Financial Performance - Net profit attributable to shareholders decreased by 318.38% to a loss of CNY 14,803,369.54 compared to the same period last year[5] - Operating revenue dropped by 71.06% to CNY 35,291,277.55 year-on-year[5] - Basic and diluted earnings per share were both CNY -0.16, a decrease of 328.57% compared to the same period last year[6] - The total profit for Q1 2020 was a loss of RMB 14,796,815.01, compared to a profit of RMB 9,272,306.37 in the previous period, representing a decline of 259.58%[13] - The company's revenue decreased significantly, resulting in a net profit of -14,831,576.80 RMB, a decline of 347.55% compared to the previous period[14] - The net loss for Q1 2020 was CNY 14,831,576.80, contrasting with a net profit of CNY 5,991,317.57 in Q1 2019, marking a significant shift in profitability[34] - The gross profit margin for Q1 2020 was negative, with a gross profit of CNY -15,458,818.24, compared to CNY 37,984,710.45 in Q1 2019[34] - The company reported a significant increase in interest expenses, with CNY 3,215,601.31 in Q1 2020 compared to CNY 1,833,895.07 in Q1 2019, reflecting a rise of approximately 75%[34] Assets and Liabilities - Total assets increased by 3.73% to CNY 1,605,970,853.84 compared to the end of the previous year[5] - Total current assets increased to ¥1,243,916,725.36 as of March 31, 2020, up from ¥1,206,132,883.49 at the end of 2019, representing a growth of approximately 3.1%[23] - Total liabilities increased to ¥921,742,364.44 from ¥851,361,160.31, reflecting a rise of approximately 8.2%[25] - The total assets as of Q1 2020 were CNY 1,369,907,372.06, up from CNY 1,327,816,332.96 in Q1 2019, indicating an increase of about 3.2%[34] - The total liabilities as of Q1 2020 were CNY 744,705,394.69, an increase from CNY 694,451,226.55 in the previous year, representing a growth of about 7.2%[34] Cash Flow - Net cash flow from operating activities improved by 47.22% to a negative CNY 27,412,383.26 compared to the previous year[5] - The net cash flow from operating activities was -27,412,383.26 RMB, an improvement of 47.22% due to increased cash receipts from sales[14] - Financing activities generated a net cash inflow of CNY 29,516,287.97 in Q1 2020, compared to CNY 4,094,161.19 in Q1 2019, indicating a significant increase in financing[40] - Total cash inflow from financing activities increased to $90.46 million, up from $53 million in the previous period[43] - Cash outflow from operating activities totaled $138.51 million, an increase from $120.48 million in the previous year[43] Shareholder Information - The total number of shareholders reached 7,956 at the end of the reporting period[9] - The largest shareholder, Jin Ao Da, holds 19.16% of the shares, totaling 17,525,000 shares[9] Expenses - Operating cost for Q1 2020 was RMB 22,587,232.92, down 73.41% from RMB 84,960,240.77 in the previous period[13] - Research and development expenses decreased by 32.72% to RMB 1,675,408.47 from RMB 2,490,143.77 in the previous period[13] - The company reported a significant decrease in employee compensation payable, down 64.14% to RMB 4,725,670.09 from RMB 13,177,226.44 in the previous period[12] - Financial expenses increased by 96.87% to RMB 3,888,844.18 from RMB 1,975,362.20 in the previous period[13] - Payments for employee compensation amounted to $9.50 million, down from $10.72 million year-over-year[43] Investment and Development - The company has not disclosed any new product developments or market expansion strategies in this report[5] - The company plans to proceed with a share issuance following the approval from the China Securities Regulatory Commission[19] - Cash paid for fixed asset construction increased by 182.79% to 19,397,459.45 RMB, indicating ongoing investment in infrastructure[14] - The company incurred R&D expenses of CNY 1,675,408.47 in Q1 2020, compared to CNY 2,490,143.77 in Q1 2019, showing a decrease of approximately 32.6%[38] Taxation - The company experienced a 179.56% increase in tax payable, resulting in a negative balance of RMB 5,804,300.14, compared to RMB 7,295,269.63 in the previous period[12] - The company has reported a significant decrease in tax expenses due to reduced revenue[14] - Payments for taxes totaled $8.34 million, a decrease from $11.31 million in the previous period[43]

Financial Performance - Operating revenue for the first nine months reached CNY 382,433,033.74, an increase of 11.46% year-on-year[6] - Net profit attributable to shareholders for the first nine months was CNY 18,485,650.17, reflecting a year-on-year increase of 1.82%[6] - Total operating revenue for Q3 2019 reached ¥102,116,607.96, an increase of 8.7% compared to ¥94,475,691.18 in Q3 2018[32] - Net profit for Q3 2019 was ¥6,808,722.72, a decrease of 12.1% from ¥7,747,796.07 in Q3 2018[34] - The total profit for the first three quarters of 2019 was ¥17,050,829.90, compared to ¥9,676,180.28 in the same period of 2018, showing a significant increase[37] Cash Flow - The net cash flow from operating activities showed a significant decline, with a net outflow of CNY 56,395,130.79, a decrease of 1,128.58% compared to the same period last year[6] - The net cash flow from operating activities for the first nine months of 2019 was CNY -39,999,456.55, worsening from CNY -10,676,601.89 in the previous year[44] - Total cash inflow from financing activities was CNY 227,426,404.26, up from CNY 160,328,448.23 in Q3 2018, representing an increase of about 42%[42] - Net cash flow from financing activities improved to CNY 24,070,436.74 from CNY 3,685,534.71 year-over-year, showing a positive trend[42] - The net cash flow from investment activities was -¥42,930,571.18, a decrease of 153.65% compared to ¥80,015,929.10 in the previous period[18] Assets and Liabilities - Total assets increased by 7.41% to CNY 1,525,393,908.37 compared to the end of the previous year[6] - Total liabilities rose to ¥858,101,767.23, compared to ¥764,025,057.48, indicating an increase of approximately 12.3%[25] - Current assets totaled ¥1,216,646,423.53, an increase from ¥1,149,340,758.82, reflecting a growth of about 5.8%[24] - Non-current assets totaled ¥308,747,484.84, an increase from ¥270,771,364.01, representing a growth of approximately 14.0%[24] - Total current liabilities amounted to ¥800,334,202.08, up from ¥708,137,804.96, indicating an increase of about 12.9%[25] Shareholder Information - The total number of shareholders at the end of the reporting period was 8,811[10] - The largest shareholder, Jin Ao Da, holds 19.16% of the shares, totaling 17,525,000 shares[10] - The total equity attributable to shareholders increased to ¥660,913,007.37 from ¥649,924,081.99, reflecting a growth of approximately 1.5%[26] Expenses - The company's management expenses rose by 41.33% to ¥46,134,584.44, attributed to increased costs in project expenses and depreciation[15] - Financial expenses surged by 143.20% to ¥3,550,944.38, mainly due to higher loan interest[15] - The company reported a 33.40% increase in income tax expenses to ¥6,936,410.10, reflecting higher profits and a 25% applicable tax rate[15] Research and Development - Research and development expenses for Q3 2019 were ¥2,937,905.07, compared to ¥2,398,100.44 in Q3 2018, reflecting a 22.4% increase[33] Other Information - The company has not disclosed any new product developments or market expansion strategies in this report[6] - The company plans to proceed with a public offering of securities, pending approval from the China Securities Regulatory Commission[20] - The company has authorized its board to handle matters related to land storage and relocation of its subsidiary[18]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 280,316,425.78, representing a 12.74% increase compared to CNY 248,630,802.53 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2019 was CNY 12,416,843.66, up 11.25% from CNY 11,161,439.74 in the previous year[18]. - The net profit after deducting non-recurring gains and losses increased by 45.39%, reaching CNY 10,761,384.15 compared to CNY 7,401,726.39 in the same period last year[18]. - The total operating revenue for the first half of 2019 was CNY 280,316,425.78, an increase of 12.74% compared to CNY 248,630,802.53 in the same period of 2018[138]. - The net profit for the first half of 2019 reached CNY 13,668,480.58, representing an increase of 13.47% from CNY 12,047,560.42 in the previous year[139]. - The company's net profit for the first half of 2019 was CNY 11,706,327.67, compared to a loss of CNY 12,622,860.11 in the same period of the previous year, indicating a significant turnaround[160]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -56,635,684.29, a decline of 179.37% from CNY -20,272,303.48 in the previous year[18]. - The company's cash and cash equivalents decreased by 30.18% to ¥204,239,121.48, accounting for 14.26% of total assets[50]. - The ending cash and cash equivalents balance was CNY 60,758,815.15, down from CNY 124,789,884.60 at the end of the first half of 2018[149]. - The company reported a net cash flow from investment activities of negative CNY 9,884,779.64, compared to negative CNY 6,095,980.75 in the previous year[149]. - The company’s total liabilities increased, with a significant rise in borrowings received amounting to CNY 183,325,771.00 in the first half of 2019[146]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,432,599,619.41, a 0.88% increase from CNY 1,420,112,122.83 at the end of the previous year[19]. - The total liabilities amounted to CNY 775,257,231.39, up from CNY 764,025,057.48, indicating an increase of approximately 1.5%[133]. - Total current assets as of June 30, 2019, amounted to CNY 1,142,701,844.97, a slight decrease from CNY 1,149,340,758.82 at the end of 2018[131]. - Total current liabilities increased to CNY 722,132,941.31 from CNY 708,137,804.96, representing a rise of about 2%[132]. Shareholder Information - The company has not proposed any stock dividends or bonuses for the first half of 2019[77]. - The company confirmed that the actual controllers and shareholders have fulfilled their commitments regarding share transfer restrictions, with specific commitments lasting until May 16, 2020[79]. - Major shareholders, including Jin Ao Da and Wu Zhu Ping, express confidence in the company's long-term prospects and plan to hold their shares continuously[81]. - The company has established a commitment to adhere to regulatory oversight and public scrutiny regarding shareholding and potential sales by major shareholders[82]. Research and Development - The company holds a total of 117 patents, with multiple product series recognized as high-tech products[44]. - R&D investment in the cooling tower sector is generally insufficient, limiting innovation and competitiveness[35]. - The company has enhanced its R&D capabilities, achieving batch production capacity for new cooling tower designs[43]. - Research and development expenses for the first half of 2019 were CNY 7,221,022.09, down from CNY 9,743,257.27, suggesting a potential shift in investment strategy[139]. Market and Industry - The main business involves the research, design, manufacturing, and installation of industrial cooling towers, with a focus on mechanical ventilation cooling towers[25]. - The cooling tower market is characterized by a low concentration of firms, with fewer than 10 companies achieving annual sales exceeding 100 million[33]. - Demand for industrial cooling towers is driven by new fixed asset investments and upgrades due to energy-saving policies[36]. - The company’s products are widely used in petrochemical, metallurgy, and power industries, indicating a diverse application range[32]. Compliance and Governance - The company has confirmed compliance with all legal and regulatory requirements during the shareholder meetings[74][75]. - The company will ensure compliance with legal obligations and accept social supervision to protect investors' rights[84]. - The company has established measures to prevent any conflicts of interest among major shareholders and management[89]. - The company has committed to maintaining a cooperative relationship between major shareholders to ensure stable operations and growth[120]. Environmental Responsibility - The company has implemented various pollution control measures, including a 15-meter high exhaust stack for emissions treatment, ensuring compliance with environmental standards[104]. - The company has a waste treatment capacity of 24,000 m³/h for plastic extrusion and injection molding processes, utilizing activated carbon adsorption systems[104]. - The company’s hazardous waste, including waste oil and paint residues, is managed by qualified third-party units[104]. - The company has implemented measures to control major pollutants generated during production, including waste gas, wastewater, noise, and solid waste[101].

Financial Performance - Operating revenue increased by 2.31% to CNY 121,944,951.22 year-on-year[7] - Net profit attributable to shareholders decreased by 24.02% to CNY 6,778,763.80 compared to the same period last year[7] - Basic earnings per share decreased by 30.00% to CNY 0.07[7] - The weighted average return on equity decreased by 0.37 percentage points to 1.04%[7] - The net profit for the first quarter of 2019 was CNY 5,991,317.57, a decrease of 33.1% compared to CNY 8,955,322.23 in the same period last year[17] - Total operating revenue for Q1 2019 was CNY 121,944,951.22, an increase of 2.94% compared to CNY 119,192,073.36 in Q1 2018[37] - Net profit for Q1 2019 was CNY 5,991,317.57, a decrease of 33.3% from CNY 8,955,322.23 in Q1 2018[38] - Earnings per share for Q1 2019 were CNY 0.07, down from CNY 0.10 in Q1 2018[39] Cash Flow and Liquidity - Net cash flow from operating activities was negative at CNY -51,937,040.30, a significant decline of 2,920.33% compared to the previous year[7] - Cash received from operating activities decreased by 44.19% to 16,037,371.57 compared to the same period last year[18] - The company reported a cash outflow of 120,478,347.15 RMB from operating activities in Q1 2019, compared to 95,591,791.83 RMB in Q1 2018, reflecting increased operational costs[46] - The cash flow from operating activities was negatively impacted by a significant increase in payments for goods and services, which totaled 118,260,245.84 RMB in Q1 2019, compared to 73,980,448.36 RMB in Q1 2018[42] - The company’s cash flow from financing activities increased by 349.27%, totaling 4,094,161.19 during the reporting period[19] - The company’s cash and cash equivalents decreased by 57,057,031.59, marking a 1146.38% increase in cash outflow compared to the previous year[19] Assets and Liabilities - Total assets decreased by 1.30% to CNY 1,401,702,410.78 compared to the end of the previous year[7] - The company's current assets totaled CNY 1,134,508,499.71, down from CNY 1,149,340,758.82 at the end of 2018, indicating a decrease of about 1.3%[29] - The total liabilities decreased to CNY 741,079,315.66 from CNY 764,025,057.48, a reduction of about 3.0%[30] - The company's equity attributable to shareholders rose to CNY 655,423,990.35 from CNY 649,924,081.99, an increase of approximately 0.8%[31] - Total liabilities amounted to approximately ¥655.74 million, with current liabilities at ¥633.92 million[53] Shareholder Information - The total number of shareholders reached 9,513 at the end of the reporting period[10] - The largest shareholder, Jin Ao Da, holds 19.16% of the shares, totaling 17,525,000 shares[10] Expenses and Costs - The company's financial expenses increased by 210.28%, reaching CNY 1,975,362.20, primarily due to increased loan interest[16] - Total operating costs for Q1 2019 were CNY 116,193,851.97, up from CNY 112,152,645.23 in Q1 2018, reflecting a year-over-year increase of 3.68%[37] - Research and development expenses for Q1 2019 were CNY 2,490,143.77, compared to CNY 3,021,946.72 in Q1 2018, indicating a decrease of 17.6%[38] - Sales expenses for Q1 2019 were CNY 13,030,555.02, up from CNY 11,950,540.74 in Q1 2018, reflecting an increase of 9.05%[38] - Management expenses for Q1 2019 were CNY 12,600,732.42, compared to CNY 11,223,403.32 in Q1 2018, showing an increase of 12.3%[38] Investments and Subsidiaries - The company completed a capital increase of 80 million yuan for its wholly-owned subsidiary Jinou Water Treatment[21] - The company has established a new subsidiary in Jakarta, Indonesia, and has allocated funds accordingly[20] - The company plans to invest in its U.S. subsidiary but has not yet made actual contributions due to uncertainties from U.S.-China trade tensions[20] Other Financial Metrics - Government subsidies recognized in the current period amounted to CNY 2,037,175.05[9] - Non-recurring gains and losses totaled CNY 1,815,842.41 for the period[10] - The company's interest income rose by 285.51% to CNY 686,916.46, driven by increased deposit interest[17] - The company's other comprehensive income rose by 145.42% to CNY 1,530,122.25, resulting from foreign currency translation differences[16] - The company declared dividends payable to minority shareholders amounting to CNY 1,980,948.89, which was not applicable in the previous period[17]

Financial Performance - The company's operating revenue for 2018 was CNY 603,746,269.82, representing a 6.80% increase compared to CNY 565,325,055.77 in 2017[21]. - The net profit attributable to shareholders for 2018 was CNY 33,187,722.33, a decrease of 12.38% from CNY 37,874,954.45 in the previous year[21]. - The net cash flow from operating activities was negative CNY 7,490,824.44, a decline of 117.38% compared to CNY 43,111,806.60 in 2017[22]. - The total assets at the end of 2018 were CNY 1,420,112,122.83, an increase of 14.39% from CNY 1,241,428,309.10 in 2017[22]. - The net assets attributable to shareholders increased by 3.49% to CNY 649,924,081.99 at the end of 2018, up from CNY 628,021,250.35 in 2017[22]. - The basic earnings per share for 2018 were CNY 0.36, down 21.74% from CNY 0.46 in 2017[23]. - The weighted average return on equity decreased to 5.20% in 2018, down 1.82 percentage points from 7.02% in 2017[23]. - The company reported a decrease in net profit excluding non-recurring gains and losses to CNY 28,700,329.01, down 18.02% from CNY 35,009,539.85 in 2017[22]. - The company achieved operating revenue of ¥603,746,269.82, an increase of 6.8% compared to the previous year[50]. - Net profit attributable to shareholders decreased by 12.38% to ¥33,187,722.33, primarily due to lower gross margins on certain large projects and increased selling expenses[50]. - The company reported a significant decline in net cash flow from operating activities, down 117.38% to -¥7,490,824.44, attributed to increased payments for goods[57]. - Operating costs increased by 8.85% to ¥426,085,581.25, primarily due to higher revenue leading to increased costs[57]. - The gross profit margin for the main business decreased by 1.36 percentage points to 29.27% due to lower margins on large projects[61]. Market and Business Strategy - The company focuses on the research, design, manufacturing, and installation of industrial cooling towers, with applications in petrochemical, metallurgy, and power industries[34]. - The production model is based on "sales-driven production," where production plans are aligned with sales orders[37]. - The sales strategy involves direct sales through project bidding, with a structured process for contract negotiation and execution[39]. - The company plans to enhance its international market presence by establishing subsidiaries in Indonesia and the United States with total investments of up to $372 million[51]. - The company has completed the registration of its subsidiaries in Indonesia and the United States, enhancing its operational footprint[52]. - The company aims for "internal development + external expansion" strategy, focusing on technological innovation and broadening its cooling tower business for key industries like petrochemicals, metallurgy, and power[101]. - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of 500 million RMB allocated for this purpose[134]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share by the end of the year[132]. Research and Development - The company has developed a new series of environmentally friendly cooling towers, achieving a water-saving rate of over 50% for the B model, compared to 20%-30% for the A model[52]. - The company holds 110 patents and has received recognition for multiple high-tech products in energy-saving and water-saving technologies[48]. - The company’s R&D investment is currently insufficient, relying heavily on imitation rather than innovation due to inadequate intellectual property protection and chaotic market competition[44]. - Research and development expenses decreased by 6.86% to ¥14,455,154.37, reflecting a reduction in material costs for certain projects[57]. - New product development initiatives are underway, with an investment of 50 million allocated for R&D in advanced cooling technologies[185]. Environmental Compliance - The company has committed to environmental protection measures, including a 15-meter high exhaust stack for emissions treatment, ensuring compliance with standards[154]. - The company has implemented noise pollution control measures, including vibration pads and soundproof windows, to ensure noise levels meet regulatory standards[154]. - The company has a waste management strategy that includes recycling plastic and steel waste, with hazardous waste handled by qualified units[154]. - The company’s environmental compliance efforts are supported by a range of treatment technologies, including activated carbon adsorption and thermal combustion systems[156]. - The company has established a total of three active carbon adsorption systems for treating non-methane total hydrocarbons, with a processing capacity of 24,000 m³/h[155]. Shareholder and Governance - The company plans to distribute a cash dividend of CNY 1.09 per 10 shares, totaling CNY 9,970,230.00[5]. - The cash dividend policy is aligned with regulations and aims to protect the rights of shareholders, especially minority investors[107]. - The company has committed to not transferring or entrusting the management of shares held prior to the IPO for 12 months from the date of listing[114]. - Major shareholders have pledged to hold their shares long-term and will not reduce their holdings below the IPO price during the specified lock-up period[116]. - The company will take legal responsibility for any false statements or omissions in the prospectus, including potential buyback obligations if conditions are not met[118]. - The company has established a commitment to transparency and accountability to investors regarding share transactions[118]. - The company will face penalties for unauthorized share reductions, including forfeiture of dividends equivalent to the amount gained from such actions[116]. - The company has outlined specific conditions under which it will repurchase shares if regulatory authorities determine non-compliance with listing conditions[118]. - The company has committed to ensuring the authenticity and completeness of its prospectus, taking legal responsibility for any false statements or omissions[120]. - The controlling shareholders, Jin Aoda and Wu Zhuping, pledged to repurchase shares if any misleading information in the prospectus leads to investor losses[120]. Employee and Management - The total number of employees in the parent company and major subsidiaries is 482, with 280 in the parent company and 202 in subsidiaries[195]. - Employee composition includes 227 production staff, 108 sales personnel, 53 technical staff, and 12 financial staff[195]. - The company emphasizes a fair and competitive compensation policy to motivate employees and support their career development[196]. - The total remuneration for all senior management personnel amounts to 5,624.02 thousand yuan for the reporting period[182]. - The management emphasized the importance of maintaining compliance with regulatory standards to avoid potential penalties[137]. Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue increase of 10% to 1.32 billion RMB[130]. - The company is committed to reducing operational costs by 5%, aiming for a more efficient cost structure[136]. - The management team highlighted the importance of sustainability, committing to a 40% reduction in carbon emissions by 2025[186]. - The company provided guidance for 2019, projecting a revenue growth of 10% to 12%, aiming for a total revenue between 1.65 billion and 1.68 billion[187].

Financial Performance - Operating revenue decreased by 3.64% to CNY 343,106,493.71 for the first nine months compared to the same period last year[6] - Net profit attributable to shareholders increased slightly by 0.24% to CNY 18,155,193.25 year-on-year[6] - Basic and diluted earnings per share both decreased by 13.04% to CNY 0.20[7] - Total operating revenue for Q3 2018 was ¥94,475,691.18, a decrease of 14.14% compared to ¥110,045,262.03 in Q3 2017[30] - Total operating costs for Q3 2018 were ¥86,796,379.88, down 18.49% from ¥106,483,010.35 in the same period last year[30] - Net profit for Q3 2018 reached ¥7,747,796.07, an increase of 7.73% from ¥3,736,137.76 in Q3 2017[31] - The net profit attributable to the parent company for the first nine months of 2018 was ¥18,155,193.25, slightly up from ¥18,111,842.69 in the same period last year[31] - Total revenue for the first nine months of 2018 was CNY 380,971,949.95, compared to CNY 372,164,175.81 in the previous year, showing a slight increase of about 2.2%[37] Cash Flow and Liquidity - Net cash flow from operating activities showed a significant decline of 271.98%, resulting in a negative cash flow of CNY -4,590,266.62[6] - Cash flow from operating activities for the first nine months of 2018 was negative at CNY -4,590,266.62, compared to a positive cash flow of CNY 2,669,136.80 in the same period last year[38] - Total cash inflow from operating activities was 272,142,010.08 RMB, down from 285,128,841.20 RMB year-over-year, reflecting a decrease of approximately 4.1%[39] - Cash outflow from operating activities totaled 282,818,611.97 RMB, slightly lower than 288,576,895.74 RMB in the previous year, resulting in a decrease of about 2.0%[39] - Cash and cash equivalents decreased to CNY 145,059,793.94 from CNY 153,688,635.74, a decline of approximately 5.29%[27] - The ending balance of cash and cash equivalents was 106,140,906.68 RMB, down from 176,287,414.67 RMB in the previous year, representing a decrease of approximately 39.6%[40] Assets and Liabilities - Total assets increased by 9.16% to CNY 1,355,163,763.07 compared to the end of the previous year[6] - Total liabilities reached CNY 712,997,970.57, up from CNY 605,624,950.20, an increase of around 17.67%[25] - Current liabilities rose to CNY 688,994,595.84, compared to CNY 580,343,525.07, marking an increase of about 18.76%[25] - Total liabilities decreased by 59.54% in tax payables, amounting to ¥6,073,765.38, compared to the previous year[13] - Shareholders' equity totaled CNY 642,165,792.50, compared to CNY 635,803,358.90, showing a slight increase of about 0.57%[25] Investments and Subsidiaries - The company plans to change the implementation plan of the marketing network construction project, with a total investment amount adjusted from CNY 27.4 million to CNY 27.85 million[15] - The company intends to increase its wholly-owned subsidiary Seagull Asia Pacific by USD 1.5 million (approximately CNY 9.76 million) and establish Seagull Indonesia with a total investment not exceeding USD 720,000 (approximately CNY 4.69 million)[16] - The company has completed the capital increase for its wholly-owned subsidiary, Jinou Water Treatment, with a total capital increase of CNY 80 million, of which CNY 14 million is added to the registered capital[18] - The company is in the process of establishing new subsidiaries in the United States and Indonesia, with respective investments of up to USD 300,000 (approximately CNY 1.95 million) and USD 720,000 (approximately CNY 4.69 million)[16] Research and Development - Research and development expenses increased by 40.47% to ¥12,141,357.71, driven by investments in fundraising projects[14] - Research and development expenses for Q3 2018 were ¥2,398,100.44, slightly up from ¥2,356,879.84 in Q3 2017[30] Shareholder Information - The total number of shareholders reached 11,405 by the end of the reporting period[10] - The largest shareholder, Jin Ao Da, holds 19.16% of the shares, totaling 17,525,000 shares[10] Other Income and Expenses - Non-recurring gains and losses included government subsidies amounting to CNY 3,465,673.45 for the year-to-date[8] - Other income grew by 91.72% to ¥4,743,153.45, mainly from increased government subsidies[14] - Investment income rose by 43.09% to ¥5,109,589.86, due to higher returns from financial products[14] - The company reported a significant rise in prepayments to CNY 26,262,512.28 from CNY 5,076,687.68, an increase of approximately 418.36%[27] - The company’s financial expenses decreased by 49.74% to ¥1,460,086.20, due to increased exchange gains[14]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 248,630,802.53, representing a 1.06% increase compared to CNY 246,030,853.82 in the same period last year[18]. - The net profit attributable to shareholders of the listed company decreased by 17.73% to CNY 11,161,439.74 from CNY 13,566,975.20 year-on-year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 40.72% to CNY 7,401,726.39 compared to CNY 12,485,292.42 in the previous year[18]. - The net cash flow from operating activities was negative at CNY -20,272,303.48, a significant decline from CNY 24,360,500.45 in the same period last year, marking a 183.22% decrease[18]. - Basic earnings per share decreased by 36.84% to CNY 0.12 from CNY 0.19 in the same period last year[19]. - The weighted average return on net assets dropped to 1.77%, down by 1.20 percentage points from 2.97% in the previous year[20]. - Sales expenses increased by 16.37% to ¥26,345,627.13 due to intensified market expansion efforts[45]. - R&D expenses rose by 54.99% to ¥9,743,257.27, reflecting increased investment in new product development[45]. - The company reported a significant increase in cash paid for purchasing goods and services, totaling CNY 155,632,109.80, compared to CNY 126,483,024.89 last period[126]. Assets and Liabilities - The total assets at the end of the reporting period increased by 4.79% to CNY 1,300,877,065.74 from CNY 1,241,428,309.10 at the end of the previous year[18]. - The total liabilities rose to CNY 667,218,718.16, compared to CNY 605,624,950.20, indicating an increase of about 10.1%[114]. - Current liabilities totaled CNY 642,931,975.76, up from CNY 580,343,525.07, reflecting a growth of approximately 10.8%[113]. - Accounts receivable decreased by 49.55% to ¥19,557,500.40, down from ¥38,769,888.02[49]. - Prepayments increased by 90.54% to ¥28,328,776.00, compared to ¥14,867,908.63[49]. - The total current assets amounted to ¥1,056,239,988.71, up from ¥1,003,014,726.31, which is an increase of about 5.3%[112]. Market and Industry Insights - The company specializes in the research, design, manufacturing, and installation of industrial cooling towers, with a focus on energy-efficient and environmentally friendly models[25]. - The cooling tower market in China has over 10 companies with annual sales exceeding 100 million, while several dozen companies have sales between 10 million and 100 million[30]. - The demand for cooling towers is driven by new fixed asset investments in industries such as petrochemicals, metallurgy, and power generation, as well as upgrades for energy and water conservation[31]. - The cooling tower industry in China is characterized by low market concentration and a need for improved technical capabilities compared to international competitors[30]. Research and Development - The company has established a technology center with over 60 technical personnel and more than 50 testing instruments, enhancing its research and development capabilities[33]. - The company holds 97 patents and has received recognition for multiple high-tech products in energy-saving and water-saving technologies[34]. - The company is investing heavily in R&D to develop new products with high added value and good environmental performance[61]. - The company has filed for 2 invention patents and 10 utility model patents in the first half of 2018, emphasizing its commitment to R&D[40]. Shareholder and Governance Practices - The company committed to ensuring that the prospectus and its summary do not contain false records, misleading statements, or significant omissions, and will bear individual and joint legal responsibility for their authenticity, accuracy, and completeness[70]. - The management expresses a long-term positive outlook on the company's and industry’s development prospects[68]. - The company has established a lock-up period for major shareholders, limiting share sales to no more than 1% of total shares per year after the lock-up period ends[69]. - The company will ensure compliance with all legal obligations regarding share repurchases and investor compensation[70]. - The management's commitment to holding shares reflects confidence in the company's future performance[68]. Environmental and Social Responsibility - The company has implemented various pollution prevention measures for waste gas, wastewater, noise, and solid waste during production[84][85][86]. - The company’s main environmental protection facilities are operating normally, with all major pollutants meeting discharge standards[87]. - The company maintains a strong focus on safety and environmental management, adhering to OHSAS18001 and ISO14001 standards[43]. Financial Management and Investments - The company reported a total investment of 1,700 million yuan in fixed income products with an expected annual return of 4.35%, yielding 395,571.62 yuan[89]. - The company has implemented a strategy of investing in fixed income products to ensure capital preservation and generate returns[89]. - The company utilized temporarily idle raised funds for cash management, indicating a strategic approach to fund allocation[89]. Compliance and Regulatory Matters - The company has committed to accepting supervision from regulatory authorities and the public regarding its share transactions[69]. - The company has not reported any significant contracts or guarantees during the reporting period[80]. - The company’s financial statements were approved by the board of directors on August 15, 2018, ensuring compliance with accounting standards[143].

Financial Performance - Net profit attributable to shareholders was CNY 8,922,353.55, an increase of 54.37% year-on-year[6] - Operating revenue reached CNY 119,192,073.36, reflecting a growth of 9.14% compared to the same period last year[6] - Basic earnings per share increased by 25% to CNY 0.10 from CNY 0.08 in the previous year[6] - The total profit for the period reached ¥10,781,291.26, an increase of 52.11% compared to the previous period's ¥7,087,780.29[13] - Net profit attributable to the parent company was ¥8,922,353.55, reflecting a growth of 54.37% from ¥5,779,959.39 in the same period last year[13] - The company reported a significant increase in investment income, which rose by 89.50% to ¥582,288.37, compared to ¥307,281.57 in the previous year[13] - The net profit after deducting non-recurring gains was CNY 5,569,245.21, a year-on-year increase of 2.87%[6] - Net profit for Q1 2018 reached CNY 8,955,322.23, representing a 51.0% increase from CNY 5,896,903.55 in the same period last year[36] - The company's operating revenue for the current period is ¥99,754,905.39, an increase of 2.4% compared to ¥97,384,838.85 in the previous period[39] - The net profit for the current period is ¥7,701,960.12, representing a 52.3% increase from ¥5,066,700.44 in the previous period[39] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,217,288,764.47, a decrease of 1.94% compared to the end of the previous year[6] - The company's total assets amounted to RMB 1,217.29 million, a decrease from RMB 1,241.43 million at the beginning of the year[27][30] - The company's current assets totaled RMB 981.59 million, down from RMB 1,003.01 million at the beginning of the year[28] - The company's total liabilities decreased to RMB 568.77 million from RMB 605.62 million at the beginning of the year[29] - Total liabilities decreased to CNY 510,125,777.45 from CNY 563,708,491.59, a reduction of 9.5%[32] - The total equity of the company increased to CNY 600,092,532.28 from CNY 588,228,966.62, an increase of 2.9%[33] Cash Flow - The net cash flow from operating activities was negative at CNY -1,719,584.16, a decline of 121.21% year-on-year[6] - The cash flow from operating activities shows a net outflow of ¥1,719,584.16, a decrease from a net inflow of ¥8,108,187.20 in the previous period[41] - Total cash inflow from operating activities was 85,020,045.09 RMB, down 16.2% from 101,458,262.35 RMB in the prior period[44] - Cash outflow from operating activities increased to 95,591,791.83 RMB, compared to 92,546,964.31 RMB in the previous period, reflecting higher operational costs[44] - The company reported a net cash flow from investment activities of -579,154.00 RMB, worsening from -146,610.00 RMB in the previous period[44] - The ending balance of cash and cash equivalents was 96,839,200.30 RMB, significantly higher than 22,563,329.12 RMB at the end of the previous period[45] Shareholder Information - The total number of shareholders at the end of the reporting period was 14,943[10] - The top shareholder, Jin Ao Da, holds 19.16% of the shares, totaling 17,525,000 shares[10] Investments and Future Plans - The company plans to use up to RMB 100 million of idle raised funds for cash management, investing in financial products with high safety and liquidity[15] - The company plans to establish new subsidiaries in the United States and Indonesia, with total investments of up to USD 300,000 and USD 72,000 respectively[19] - The company will collaborate with its wholly-owned subsidiaries to implement the marketing network project across multiple international locations, including Malaysia and Thailand[18] - The company has established an industrial investment fund with a contribution of RMB 10 million, in collaboration with other investors[21] Operational Costs - Total operating costs for Q1 2018 were CNY 112,152,645.23, up from CNY 103,223,336.28, reflecting a rise of 8.9%[35] - The company paid cash for employee compensation totaling ¥16,829,321.21, an increase from ¥13,266,256.87 in the previous period[41]

Financial Performance - The company's operating revenue for 2017 was CNY 565,325,055.77, an increase of 4.84% compared to CNY 539,230,743.84 in 2016[21] - The net profit attributable to shareholders for 2017 was CNY 37,874,954.45, reflecting a slight increase of 0.81% from CNY 37,572,105.94 in 2016[21] - The net cash flow from operating activities decreased by 19.17% to CNY 43,111,806.60 in 2017 from CNY 53,336,132.61 in 2016[21] - Basic earnings per share for 2017 were CNY 0.46, a decrease of 16.36% from CNY 0.55 in 2016[23] - The weighted average return on equity decreased by 2.15 percentage points to 7.02% in 2017 from 9.17% in 2016[23] - The company reported a total cash flow from operating activities of ¥40,442,669.80 for the year, highlighting strong cash generation capabilities despite seasonal fluctuations[26] - The company achieved operating revenue of ¥565,325,055.77, an increase of 4.84% compared to the previous year[41] - Net profit attributable to shareholders was ¥37,874,954.45, up 0.81% year-on-year[41] - The net asset attributable to shareholders grew by 46.97% to ¥628,021,250.35[47] - Basic earnings per share were ¥0.46, with a non-recurring profit of ¥0.42 per share[47] Assets and Liabilities - The total assets of the company increased by 18.48% to CNY 1,241,428,309.10 at the end of 2017, compared to CNY 1,047,780,160.45 at the end of 2016[22] - The total liabilities increased by 32.75% to 61,918,830.00 in accounts payable[69] - The company’s cash and cash equivalents at the end of the period were 185,806,776.22, a 49.80% increase from the previous year[69] - The total amount of guarantees provided by the company, excluding guarantees to subsidiaries, is RMB 189,150,000, which accounts for 32.31% of the company's net assets[135] - The company has a total of RMB 202,915,340 in guarantees, including those to subsidiaries[135] Shareholder Information - The company issued 22.87 million new shares to the public, which contributed to the increase in net assets[24] - The company’s total share capital as of the end of 2017 was 91,470,000 shares, which was used as the basis for the dividend calculation[117] - The company’s stock was listed on the Shanghai Stock Exchange on May 17, 2017[156] - The largest shareholder, Jin Ao Da, holds 17,525,000 shares, representing 19.16% of the total shares[163] - The company has committed to maintaining a cooperative relationship among shareholders for at least five full fiscal years following the listing of its A-shares[169] Dividends - The company plans to distribute a cash dividend of CNY 1.38 per 10 shares, totaling CNY 12,622,860.00[4] - The company proposed a cash dividend of 1.38 RMB per 10 shares for the 2017 fiscal year, totaling 12,622,860 RMB, which represents 33.33% of the net profit attributable to shareholders[117] - For the 2016 fiscal year, the cash dividend was set at 1.05 RMB per 10 shares, amounting to 7,203,000 RMB, with a payout ratio of 19.17% of the net profit[116] - The company has not proposed any cash profit distribution plan for the reporting period despite having positive distributable profits[119] Market and Industry Insights - The company’s customer base is concentrated in industries such as petrochemicals, power generation, and clean energy, which are expected to drive future revenue growth[26] - The company is actively expanding its overseas market presence, with plans to establish a subsidiary in Indonesia in 2018[42] - The cooling tower market in China has a low concentration, with fewer than 10 companies achieving annual sales exceeding 100 million RMB[88] - The nuclear power sector is projected to require 109 nuclear island cooling towers and 54 conventional island cooling towers based on a planned installed capacity of 54.36 million kilowatts[98] - The industrial cooling tower market will benefit from the demand for new installations and upgrades in various sectors, including paper, cement, textiles, and electronics, maintaining a high level of demand[99] Research and Development - The company is focused on R&D for industrial cooling towers, with products widely used in various industrial sectors, indicating a commitment to innovation and market expansion[31] - The company has obtained 86 patents and recognized multiple series of products as high-tech products in energy-saving and water-saving technologies[39] - Research and development expenses increased by 9.92% to ¥15,518,988.70[50] - The company is actively developing new energy-efficient cooling tower technologies to enhance its competitive edge and meet market demands[106] Operational Efficiency - The company employs a "make-to-order" production model, aligning production closely with sales orders to optimize inventory management[32] - The company has established a comprehensive business system covering research and development, manufacturing, marketing, and after-sales service in the cooling tower field[40] - The company has implemented training programs to improve employee skills and ensure product quality, contributing to overall operational efficiency[195] - The company has a structured approach to waste management, including recycling and proper disposal of hazardous waste[149] Governance and Compliance - The company has appointed several independent directors with extensive experience in finance and management, enhancing governance[181] - The company has a strong focus on governance, with independent directors playing a crucial role in oversight[181] - The company commits to ensuring that the prospectus and its summary do not contain false records, misleading statements, or significant omissions, and will bear individual and joint legal responsibilities for their authenticity, accuracy, and completeness[124] - The company has engaged in strategic partnerships, such as with TRUWATER COOLING TOWERS SDN.BHD., to enhance its market presence[186] Risks and Challenges - The company has identified potential risks in its operational plans and strategies, which are detailed in the report[7] - The company is facing risks related to macroeconomic fluctuations, which may impact downstream demand and overall market performance[109] - The company is exposed to foreign exchange risks that could affect its overseas business profitability due to fluctuations in the RMB exchange rate[112]

Financial Performance - Operating revenue for the first nine months increased by 5.00% to CNY 356,076,115.85 compared to the same period last year[6] - Net profit attributable to shareholders increased by 4.15% to CNY 18,111,842.69 compared to the same period last year[6] - Total revenue for the first nine months of 2017 reached CNY 293,994,385.57, compared to CNY 287,074,815.34 for the same period in 2016, indicating a growth of about 2.5%[33] - Net profit for the first nine months of 2017 was CNY 22,508,664.77, compared to CNY 21,241,678.36 in the previous year, reflecting a growth of 5.9%[31] - The total comprehensive income attributable to the parent company for the first nine months of 2017 was CNY 18,520,479.55, compared to CNY 18,749,439.90 in the same period of 2016, a decrease of approximately 1.2%[33] Assets and Liabilities - Total assets increased by 18.46% to CNY 1,241,149,225.75 compared to the end of the previous year[6] - The company’s total liabilities increased, with accounts payable rising by 31.68% to RMB 61,417,700.00, indicating higher operational activities[13] - The company has a total current liability of RMB 606,651,269.57, compared to RMB 586,427,032.13 at the beginning of the year[22] - The company reported a total asset of RMB 1,241,149,225.75 as of September 30, 2017, an increase from RMB 1,047,780,160.45 at the beginning of the year[21] Shareholder Information - The total number of shareholders at the end of the reporting period was 12,339[10] - The top ten shareholders held a total of 66.73% of the shares, with the largest shareholder holding 19.16%[10] - Net assets attributable to shareholders increased by 40.73% to CNY 601,346,773.77 compared to the end of the previous year[6] Cash Flow - Net cash flow from operating activities decreased by 3.51% to CNY 2,669,136.80 compared to the same period last year[6] - Operating cash inflow for the period (January to September) was CNY 372,164,175.81, an increase of 10.96% compared to CNY 335,365,257.39 in the same period last year[37] - Total cash inflow from financing activities reached CNY 322,929,040.56, up from CNY 187,720,194.17 in the previous year, indicating a significant increase of 72.00%[38] - Cash and cash equivalents increased significantly to CNY 222,384,401.06 from CNY 92,315,771.56 at the beginning of the year, marking a growth of 141.0%[25] Inventory and Receivables - Accounts receivable decreased by 34.41% to RMB 32,465,732.37, attributed to higher payments made during the period[13] - Inventory rose by 35.71% to RMB 338,060,941.19, driven by an increase in new project commencements[13] - The company’s inventory increased to RMB 338,060,941.19 from RMB 249,110,450.56, reflecting a growth of approximately 36%[21] Earnings Per Share - Basic earnings per share decreased by 8.00% to CNY 0.23 compared to the same period last year[7] - Diluted earnings per share decreased by 8.00% to CNY 0.23 compared to the same period last year[7] - Basic earnings per share for Q3 2017 was CNY 0.04, down from CNY 0.07 in Q3 2016, reflecting a decrease of approximately 42.9%[33] Financial Management - The company plans to use up to RMB 100 million of idle raised funds for cash management, investing in safe and liquid financial products[14] - The company purchased financial products worth RMB 10 million, with expected annual returns of 4.35%[14] - The company reported a significant decrease in non-operating income by 98.28% to RMB 66,023.92, due to changes in accounting standards[13] Profitability - The company's net profit for Q3 2017 was CNY 3,736,137.76, a decrease from CNY 4,122,299.48 in Q3 2016, representing a decline of approximately 9.4%[32] - The total profit for Q3 2017 was CNY 4,711,721.88, down from CNY 35,696,667.95 in Q3 2016, representing a decline of approximately 86.8%[34] - The company reported a net profit margin of approximately 4.1% for Q3 2017, compared to 5.0% in Q3 2016, indicating a decrease in profitability[32]