证券代码：603388 证券简称：元成股份 公告编号：2023-032 元成环境股份有限公司 关于召开 2022 年度业绩与现金分红网上说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 元成环境股份有限公司（以下简称"公司"）已于 2023 年 4 月 29 日在上海 证券交易所网站（http://www.sse.com.cn）披露《元成环境股份有限公司 2022 年年度报告》及其摘要》。 为使广大投资者能进一步了解公司 2022 年度经营情况，公司定于 2023 年 5 月 18 日（星期四）下午 15:00 至 16:00 时在"元成股份投资者关系"小程序举 办 2022 年度业绩与现金分红网上说明会。本次网上说明会将采用网络远程的方 式举行，投资者可登陆"元成股份投资者关系"小程序参与互动交流。 一、说明会类型 本次投资者说明会以网络远程的方式举行，公司将针对 2022 年度的经营成 果、财务指标及现金分红的具体情况与投资者进行互动交流和沟通，在信息披露 允许的范围内就投资者普遍关注的问题进行 ...

Group 1: Company Overview - Yuan Cheng Environment Co., Ltd. focuses on semiconductor materials, primarily in the field of polishing wafer cleaning and etching equipment [1] - The company has established long-term partnerships with notable clients such as Yuyuan Silicon, Maxsc, and Zhejiang University Haina [1] - The company has expanded its business into high-purity silicon component cleaning equipment, advanced packaging wet process equipment, and photovoltaic wet process equipment [1] Group 2: Core Competencies - The stability of the core technical team and production technicians is a key competitive advantage [1] - The company has developed multiple invention patents and utility model technologies through independent research and innovation [1] Group 3: Product Development and Planning - The normal delivery cycle for equipment is 6-8 months, with installation and debugging taking 1 month, and hardware and process acceptance taking 2 months [2] - The company plans to complete the development of 12-inch full-process cleaning equipment by 2024 [3] - Future product planning includes a focus on high-end cleaning in the semiconductor wet process field [2]

编号：2022-001 证券代码：603388 证券简称：元成股份 元成环境股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------------------|-------------------------------------------------|------------------------------------------| | | | | | | √ 特定对象调研 □ | 分析师会议 | | | □ 媒体采访 □ | 业绩说明会 | | 投资者关系活动类别 | □ 新闻发布会 □ | 路演活动 | | | □ 现场参观 □ | 电话会议 | | | □ 其他 | | | | 杭州乐信投资管理有限公司、广州期货股份有限公 | | | | 司杭州营业部、渤海证券股份有限公司杭州婺江路 | | | | 证券营业部、雷信私募投资基金（南京）有限公司、 | | | | 杭州九禄投资管理有限公司、杭州锐誉进取私募基 | | | 参与单位名称 | 金管理有限公司、叶檀财经杭州分院、上海宇博投 | | | | 资咨询有限公司、浙江股权服务集团有限公司、杭 | | | ...

Financial Performance - The company's revenue for the first half of 2022 decreased by 16.19% compared to the same period in 2021, primarily due to funding issues and localized pandemic control measures affecting project implementation [18]. - Basic earnings per share for the first half of 2022 were CNY 0.09, down 26.08% from CNY 0.12 in the same period last year [18]. - The diluted earnings per share also stood at CNY 0.09, reflecting the same percentage decrease of 26.08% compared to the previous year [18]. - The weighted average return on net assets was 2.31%, a decrease of 0.91 percentage points from 3.22% in the prior year [18]. - The return on net assets, excluding non-recurring gains and losses, increased to 1.99%, up by 0.37 percentage points from 1.62% in the previous year [18]. - The basic earnings per share, after excluding non-recurring gains and losses, rose to CNY 0.08, representing a 33.33% increase from CNY 0.06 in the same period last year [18]. - The net profit attributable to shareholders decreased by 26.06% in the first half of 2022 compared to the same period in 2021, primarily due to a decline in revenue [19]. - Operating cash flow for the first half of 2022 was 4.21 million RMB, a significant decrease of 96.84% from 132.99 million RMB in the same period of 2021 [19]. - Revenue for the first half of 2022 was 231.67 million RMB, down 16.19% from 276.43 million RMB in the same period of 2021 [19]. - The net profit after deducting non-recurring gains and losses increased by 26.44% year-on-year, reaching 22.61 million RMB [19]. Risk Management and Governance - There were no significant risks that materially impacted the company's operations during the reporting period [6]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties [6]. - The board of directors confirmed the authenticity, accuracy, and completeness of the semi-annual report, with no false records or misleading statements [7]. - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital during the reporting period [5]. - The company has implemented strict risk management and project coordination to improve revenue premium capabilities during project execution [33]. - The company has not reported any major violations or penalties against its directors, supervisors, or senior management during the reporting period, indicating strong compliance [82]. Business Strategy and Market Position - The company operates in the civil engineering construction industry, focusing on integrated services in ecological landscape, green environmental protection, and leisure tourism [23]. - The industry is expected to benefit from favorable policies and a growing market space, despite increasing competition and challenges from local government financial pressures [25]. - The company is focusing on the integration of tourism projects, which are currently under construction and have not yet generated revenue, aiming to enhance competitive advantages and risk resistance [29]. - A significant contract worth approximately ¥333 million was signed for a comprehensive project, representing 53.38% of the company's audited revenue from the previous year [34]. - The company has established a full subsidiary to invest in and cooperate on renewable energy projects, aligning with national strategic goals for carbon neutrality [29]. - The company has optimized its business focus towards the East China region, reducing risks associated with less favorable northern regions [33]. - The company aims to improve its brand and overall strength to enhance competitiveness in a consolidating industry [32]. - The company is actively exploring new business fields and models to align with national development plans, enhancing its resilience and sustainable growth [33]. Financial Position and Assets - The total assets at the end of the reporting period were 3.44 billion RMB, a decrease of 0.88% from the previous year [19]. - The net assets attributable to shareholders increased by 2.33% to 1.15 billion RMB compared to the end of the previous year [19]. - Total contract assets increased by 6.17% to CNY 1,127,834,035.45 from CNY 1,062,330,155.59 [47]. - Inventory decreased by 38.68% to CNY 23,145,728.39 from CNY 37,748,725.89, primarily due to increased sales of seedlings [47]. - Other receivables decreased by 91.89% to CNY 3,218,786.14 from CNY 39,665,116.61, mainly due to reduced guarantee deposits [47]. - The company established a wholly-owned subsidiary for renewable energy and signed a cooperation agreement for a 50MW distributed wind power project, marking its entry into the new energy sector [38]. Cash Flow and Financing - Operating cash flow for the first half of 2022 was 4.21 million RMB, a significant decrease of 96.84% from 132.99 million RMB in the same period of 2021 [19]. - The net cash flow from operating activities significantly dropped by 96.84% to ¥4.21 million in the first half of 2022 from ¥132.99 million in the same period of 2021 [42]. - The company plans to raise up to ¥304 million through a private placement to support projects including the "Hongfang Village Red Tourism Infrastructure Project" and to repay bank loans [37]. - Cash flow from investment activities was negative at ¥17.58 million in the first half of 2022, an improvement from a negative ¥149.65 million in the same period of 2021 [44]. - Cash inflow from financing activities totaled 321,228,055.54 RMB, while cash outflow was 335,493,586.74 RMB, leading to a net cash flow of -14,265,531.20 RMB, an improvement from -72,325,964.99 RMB in the previous year [121]. Shareholder and Corporate Governance - The company committed to repurchase shares if the IPO prospectus contains false statements or omissions, ensuring the repurchase price is not lower than the issuance price plus applicable bank interest [73]. - The company will compensate investors for losses incurred due to false statements in the IPO prospectus, with a focus on protecting the interests of small and medium investors [73]. - The controlling shareholder pledged not to reduce their holdings of the company's shares within three years post-listing, with a three-day notice period for any future reductions [75]. - The company will disclose the status of commitments related to share repurchase and compensation in periodic reports if not fulfilled in a timely manner [75]. - The company’s controlling shareholder will use cash dividends from shares as collateral for fulfilling repurchase or compensation obligations [75]. - The company will publicly explain any failure to fulfill share repurchase obligations and provide specific reasons to shareholders [75]. - The company will immediately stop issuing salaries and allowances to directors, supervisors, and senior management until obligations are fulfilled [76]. - The company will freeze 10% of the distributable profits as of the end of the previous fiscal year for fulfilling obligations [76]. Compliance and Regulatory Matters - The company has pledged to comply with any new regulatory requirements from the China Securities Regulatory Commission regarding performance compensation measures [80]. - The company has not reported any major violations or penalties against its directors, supervisors, or senior management during the reporting period, indicating strong compliance [82]. - There were no significant changes in the audit opinion from the previous annual report, suggesting consistent financial practices [82]. Environmental and Social Responsibility - The company is committed to environmental protection and has undertaken various projects in ecological landscape and green environmental protection, contributing to carbon reduction efforts [68][69]. - The company has utilized approximately 3,000 acres of nursery base to effectively absorb carbon dioxide, supporting the "3060" carbon neutrality goals [69]. - The company is involved in projects that support rural modernization and beautiful countryside initiatives, contributing to rural revitalization efforts [70].

2022 年第一季度报告 证券代码：603388 证券简称：元成股份 元成环境股份有限公司 2022 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务报表 信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期增减 | | --- | --- | --- | | | | 变动幅度(%) | | 营业收入 | 86,371,554.31 | -2.62% | | 归属于上市公司股东的净利润 | 3,417,366.28 | 963.97% | | 归属于上市公司股东的扣除非经常性 | 2,291,376.50 | - | | 损益的净利润 ...

Financial Performance - In 2021, the net profit attributable to the parent company was CNY 48,954,538.99, with an undistributed profit of CNY 554,984,124.44 at year-end[5]. - The actual profit available for distribution to shareholders was CNY 498,932,171.93, and the company plans not to distribute profits or increase capital reserves for the year[5]. - The company's operating revenue in 2021 decreased by 19.84% compared to 2020, amounting to ¥572,929,406.51, primarily due to the impact of the pandemic and project delays[21]. - Net profit attributable to shareholders decreased by 47.31% in 2021, totaling ¥48,954,538.99, with a 49.83% decline in net profit after deducting non-recurring gains and losses[22]. - Basic and diluted earnings per share fell by 46.88% to ¥0.17 in 2021, reflecting a decrease in main business revenue[22]. - The weighted average return on equity decreased to 4.44% in 2021, down from 8.94% in 2020, a reduction of 4.5 percentage points[21]. - The company's total assets increased by 14.55% year-on-year, reaching ¥3,468,354,584.05 at the end of 2021[22]. - The net assets attributable to shareholders increased by 3.65% to ¥1,125,754,839.19 at the end of 2021[22]. - The company achieved a total revenue of CNY 57,292.94 million in 2021, a decrease of 19.84% compared to the previous year[42]. - The net profit attributable to shareholders was CNY 4,895.45 million, down 47.31% year-on-year[42]. Cash Flow and Investments - The net cash flow from operating activities increased by 814.21% in 2021, reaching ¥240,982,378.73, attributed to better collection of accounts receivable and a significant reduction in PPP projects[22]. - The company reported a significant increase in cash flow from operating activities in the second quarter, amounting to ¥246,215,320.23[24]. - Operating cash inflow increased by 57.57% to ¥862,754,138.58 compared to the previous period, primarily due to better accounts receivable recovery and reduced expenses in PPP-related businesses[63]. - Investment cash outflow surged by 2142.94% to ¥269,543,893.15, mainly due to the acquisition of a 51% stake in Zhejiang Yuelong Mountain Tourism Resort Company[64]. - The company completed external equity investments totaling RMB 260.1 million during the reporting period[81]. Strategic Focus and Development - The company’s future development plans and strategic goals are subject to investment risks and do not constitute a substantive commitment to investors[6]. - The company is focusing on the East China region, actively reducing new business risks in the North due to local government debt and financial pressures, while optimizing project management to enhance core business income[30]. - The company is expanding its business into the leisure tourism sector through investments and acquisitions, aiming to enhance its operational management capabilities and create new growth points for future performance[31]. - The company is adapting to the dual carbon strategy, which presents development opportunities while requiring technological innovation and high-quality transformation[34]. - The company’s core business areas include ecological landscape, green environmental protection, and leisure tourism, with a focus on planning, design, and investment[35]. - The company is committed to integrating its services across ecological landscape, green environmental protection, and leisure tourism sectors to enhance overall competitiveness[39]. Governance and Compliance - The company has received a standard unqualified audit report from its accounting firm, ensuring the accuracy and completeness of the financial report[4]. - The company’s financial report is guaranteed by the board of directors, supervisors, and senior management for its authenticity and completeness[8]. - The company has not violated decision-making procedures for providing guarantees to external parties[7]. - The company has maintained its independence in operations, assets, and finances without significant influence from controlling shareholders[103]. - The company has established a standardized and scientific internal control and risk management system to enhance decision-making efficiency and ensure compliance with legal regulations[143]. - The company emphasizes the protection of shareholder and creditor interests by optimizing governance structures and ensuring compliance with laws and regulations[149]. Market Conditions and Challenges - The landscaping industry is experiencing significant market opportunities due to urbanization and increased demand for improved living environments, with a focus on ecological restoration and green initiatives[86]. - The COVID-19 pandemic has created both challenges and opportunities for the industry, with expectations of increased government investment to stimulate economic recovery[86]. - The company anticipates that macroeconomic policies will have diminishing returns, leading to increased operational costs and credit differentiation challenges[87]. - The tightening financing environment poses cash flow risks due to delayed project settlements and the potential for increased bad debts, affecting operational cash flow[96]. - Increased market competition is anticipated as the industry shifts from high-speed growth to stable growth, potentially impacting the company's market share and performance[96]. Human Resources and Talent Development - The company has established a comprehensive training program to enhance employee skills and promote internal talent development[136]. - The number of R&D personnel is 89, accounting for 28.62% of the total workforce[61]. - The company is committed to cultivating multi-disciplinary talent to enhance collaboration across its extended industrial chain, improving overall competitiveness[92]. Shareholder and Equity Matters - The company reported a decrease in the number of shares held by the chairman, from 100,401,820 to 80,401,820, representing a reduction of 20,000,000 shares[108]. - The total remuneration for the chairman during the reporting period was 41.64 million yuan[108]. - The company has committed to repurchase all newly issued shares if the prospectus contains false statements or omissions, with the repurchase price being the market price at the time of repurchase, not lower than the issuance price plus interest[153]. - The controlling shareholder and other major shareholders are prohibited from selling shares within three years of the stock listing[155]. - The company will announce any share reduction plans three trading days in advance if the controlling shareholder intends to reduce their holdings[155]. Audit and Financial Reporting - The company appointed Crowe Horwath as the new auditor for the 2021 financial year, with an audit fee of RMB 70 million[164]. - The financial statements were audited and deemed to fairly reflect the company's financial position as of December 31, 2021[190]. - The audit procedures included testing the effectiveness of internal controls related to revenue recognition and verifying key contract terms and estimates of total project revenue[193]. - Management is responsible for assessing impairment indicators for construction in progress at each balance sheet date, which involves estimating recoverable amounts based on future cash flow projections[194].

Financial Performance - The company's operating revenue for Q3 2021 was ¥159,838,518.94, a decrease of 19.17% compared to the same period last year[6]. - The net profit attributable to shareholders was ¥10,205,998.09, down 47.21% year-on-year[6]. - The net profit after deducting non-recurring gains and losses was ¥8,060,021.04, a decline of 44.02% compared to the previous year[6]. - The basic earnings per share for the period was ¥0.04, a decrease of 42.86% from the same quarter last year[7]. - Total operating revenue for the first three quarters of 2021 was CNY 436,264,004.62, a decrease of 16.6% compared to CNY 523,234,667.22 in the same period of 2020[21]. - Net profit for the first three quarters of 2021 was CNY 44,978,853.27, a decline of 28.6% from CNY 62,973,031.91 in the same period of 2020[23]. - Earnings per share for the first three quarters of 2021 were CNY 0.16, compared to CNY 0.22 in the same period of 2020[24]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,480,342,089.64, an increase of 14.94% compared to the end of the previous year[7]. - The company's total liabilities as of September 30, 2021, were ¥1,934,537,306.85, an increase from ¥1,748,708,892.08 at the end of 2020[18]. - Total liabilities as of the end of the third quarter of 2021 were CNY 2,091,510,883.91, an increase of 9.9% from CNY 1,903,661,233.79 at the end of 2020[22]. - The total assets of the company reached ¥3,480,342,089.64, compared to ¥3,027,866,277.67 at the end of 2020[18]. - The total liabilities were reported at ¥1,903,661,233.79, compared to ¥1,944,786,783.22 at the start of the year[30]. Cash Flow - Cash flow from operating activities for the year-to-date was ¥194,764,376.75[7]. - The company reported a significant decrease in cash and cash equivalents by 55.37% due to large investment expenditures during the period[11]. - The company’s cash flow from operating activities reflects a strong recovery, indicating improved operational efficiency and revenue generation capabilities[25]. - The net cash flow from operating activities for Q3 2021 was ¥194,764,376.75, a significant improvement compared to a net outflow of ¥64,828,369.19 in Q3 2020[26]. - Total cash outflow from investing activities was ¥265,226,045.66, compared to ¥11,443,173.00 in the same period last year, resulting in a net cash flow from investing activities of -¥199,308,174.73[26]. - Cash inflow from financing activities totaled ¥584,633,611.10, while cash outflow was ¥654,827,415.48, leading to a net cash flow from financing activities of -¥70,193,804.38[26]. - The ending cash and cash equivalents balance for Q3 2021 was ¥54,629,370.94, down from ¥75,159,461.92 in Q3 2020[27]. Shareholder Information - The total number of ordinary shares at the end of the reporting period was 8,093[14]. - The largest shareholder, Zhu Changren, holds 100,401,820 shares, representing 35.21% of the total shares[15]. - The company has a total of 10 major shareholders, with the top two holding a combined 46.80% of the shares[15]. - Zhu Changren and Zhou Jinhai are identified as related parties, holding 40.81% and 3.53% of the shares respectively[15]. Other Financial Metrics - The weighted average return on equity was 0.93%, down 0.87 percentage points year-on-year[7]. - The company reported an investment income of CNY 13,183,909.44 for the first three quarters of 2021, compared to a loss of CNY 25,411.40 in the same period of 2020[22]. - Long-term borrowings amounted to CNY 151,556,910.01, a slight decrease from CNY 153,457,345.76 in the previous period[22]. - The company executed adjustments in its financial statements due to the new leasing standards effective from January 1, 2021[28].

Financial Performance - Revenue for the first half of 2021 was approximately ¥276.43 million, a decrease of 15.07% compared to the same period in 2020[24] - Net profit attributable to shareholders for the first half of 2021 was approximately ¥35.54 million, down 18.57% year-on-year[24] - Net profit after deducting non-recurring gains and losses decreased by 48.92% to approximately ¥17.88 million in the first half of 2021[24] - Basic and diluted earnings per share for the first half of 2021 were both ¥0.12, representing a 20% decrease compared to the same period last year[22] - The weighted average return on net assets decreased by 0.97 percentage points to 3.22% compared to the same period last year[22] - The company achieved operating revenue of ¥276,425,485.68, a decrease of 15.07% compared to the same period last year[42] - Net profit attributable to shareholders was ¥35,538,098.81, down 18.57% year-on-year[42] - The total profit for the first half of 2021 was RMB 40,738,411.67, down from RMB 50,235,879.78 in the same period of 2020, a decline of 18.73%[100] Cash Flow - Operating cash flow for the first half of 2021 was approximately ¥132.99 million, a significant increase from a negative cash flow of ¥107.73 million in the same period of 2020[23] - The net cash flow from operating activities for the first half of 2021 was ¥132,988,402.41, showing a significant increase compared to the previous year due to higher receivables collected[31] - Total cash inflow from operating activities reached ¥493,722,791.64, up from ¥280,914,264.78 in the first half of 2020, reflecting a growth of approximately 75.7%[106] - The net cash flow from investing activities was negative at ¥149,652,973.05, a decline from a negative cash flow of ¥2,093,000.00 in the previous year, highlighting increased investment expenditures[107] - The company reported a net decrease in cash and cash equivalents of ¥71,736,059.04 for the first half of 2021, compared to a decrease of ¥110,671,398.42 in the same period of 2020[107] Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥3.50 billion, an increase of 15.54% from the end of the previous year[24] - Total liabilities rose to CNY 2,119,054,392.56, compared to CNY 1,903,661,233.79, indicating an increase of about 11.3%[94] - The company's total assets decreased by 55.98% in cash, primarily due to significant investment expenditures[47] - The total current assets amounted to CNY 2,102,996,603.94, down from CNY 2,227,382,859.43, indicating a decrease of approximately 5.6%[95] Business Strategy and Market Position - The company has established various business channels and information networks for project information collection, enhancing its competitive advantage in the market[32] - The company is actively responding to the concept of green development, focusing on ecological landscape, green environmental protection, and leisure tourism projects[30] - The company aims to expand its business in ecological landscape, green environmental protection, and leisure tourism, aligning with national development strategies[30] - The company is focused on enhancing its core engineering revenue segment's profit margin and support capabilities through strategic planning and design[38] - The company is undergoing a strategic shift to enhance brand strength and overall competitiveness amid industry consolidation[39] Investments and Acquisitions - The company has completed four acquisitions since its listing, enhancing its qualifications and technology in the leisure tourism sector[33] - The company has invested 1,044 million in organic agriculture technology projects, with an 80% completion rate[54] - The company’s subsidiary, Zhejiang Yuancheng Tourism Industry Holdings, acquired a 51% stake in Zhejiang Yuelongshan Tourism Development Co., Ltd., focusing on tourism investment and operations[33] Risk Management - The company emphasizes risk management and coordinated development across different business fields and models during project implementation[30] - The company has identified risks related to the PPP business model, which is heavily reliant on local government financial capabilities[55] - The company is committed to improving its project judgment and identification capabilities to navigate industry opportunities and risks effectively[37] Shareholder and Corporate Governance - The company has not proposed any profit distribution or capital reserve transfer plans for the reporting period[7] - The controlling shareholder has committed to avoiding competition with the company and minimizing related party transactions, ensuring compliance with regulations[71] - The company has maintained a good integrity status, with no unfulfilled court judgments or significant overdue debts[72] Environmental Commitment - The company is committed to environmental protection projects, including water pollution control, soil remediation, air pollution control, and solid waste management, positioning itself within the green environmental industry[64] - Approximately 3,000 acres of nursery bases have been established, effectively absorbing carbon dioxide and contributing to the increase of carbon sinks, aligning with the "3060" vision goals[65] - The company undertakes projects for local governments related to ecological landscape and green environmental initiatives, contributing to rural modernization and revitalization efforts[66] Financial Reporting and Accounting Policies - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations for the next 12 months[132] - The company adheres to the accounting standards for enterprises, ensuring that the financial statements reflect a true and complete view of its financial status and performance[134] - The company recognizes revenue based on the progress of performance obligations, using the output method to determine progress as the cumulative completed work divided by the estimated total work[191]

Financial Performance - Operating revenue for the current period was ¥88,699,064.38, a decrease of 1.39% compared to ¥89,947,209.50 in the same period last year [6]. - Net profit attributable to shareholders of the listed company was -¥5,846,086.98, compared to -¥57,273.38 in the previous year, indicating a significant loss [6]. - Basic and diluted earnings per share decreased by 73.81%, from ¥0.0042 to ¥0.0011 [6]. - The company reported a weighted average return on net assets of 0.03%, a decrease of 0.09 percentage points from the previous year [6]. - Net profit for Q1 2021 was ¥321,374.74, a significant decline of 73.5% from ¥1,210,135.29 in Q1 2020 [24]. - The net profit for Q1 2021 was CNY 5,198,210.52, down from CNY 6,252,761.90 in Q1 2020, representing a decline of approximately 16.9% [26]. - Operating revenue for Q1 2021 was CNY 83,396,478.41, compared to CNY 88,865,544.54 in Q1 2020, indicating a decrease of about 6.6% [25]. - The operating profit for Q1 2021 was CNY 5,763,168.86, down from CNY 6,341,898.59 in Q1 2020, reflecting a decline of approximately 9.1% [26]. Cash Flow and Liquidity - The net cash flow from operating activities improved to -¥113,226,917.82 from -¥129,143,482.70 year-on-year [6]. - Cash and cash equivalents decreased by 71.63% to ¥40,458,925.08 from ¥142,605,265.64 due to significant payments made at the beginning of the year [13]. - The company reported a significant increase in cash inflow from operating activities, which is a positive indicator for future growth and stability [31]. - The total operating cash inflow for Q1 2021 was CNY 168,012,637.36, slightly down from CNY 170,483,060.68 in Q1 2020 [28]. - Cash outflow from investing activities was 334,433.00 RMB, significantly reduced from 1,160,000.00 RMB in Q1 2020, showing a decrease of approximately 71% [32]. - Cash inflow from financing activities increased to 143,790,277.77 RMB, up from 110,650,000.00 RMB in Q1 2020, marking a 30% increase [32]. - The ending cash and cash equivalents balance was 23,734,364.48 RMB, up from 19,547,941.75 RMB in Q1 2020, representing a 21.3% increase [32]. Assets and Liabilities - Total assets decreased by 3.40% from the end of the previous year, amounting to ¥2,924,891,338.99 [6]. - Total assets decreased to ¥2,924,891,338.99 from ¥3,027,866,277.67, reflecting a reduction in both current and non-current assets [18]. - Total liabilities decreased to ¥1,800,341,986.22 from ¥1,903,661,233.79, primarily due to the payment of accounts payable [18]. - Total current assets decreased to ¥2,093,988,475.02 from ¥2,227,382,859.43, indicating a decline of 6% [21]. - Total liabilities decreased to ¥1,934,665,076.77 from ¥2,039,977,630.79, a reduction of 5.2% [21]. - Total liabilities decreased to 1,903,661,233.79 RMB from 1,944,786,783.22 RMB, indicating a reduction of approximately 2.1% [36]. Shareholder Information - The total number of shareholders at the end of the reporting period was 9,221 [11]. - The largest shareholder, Zhu Changren, holds 35.21% of the shares, with 81,960,004 shares pledged [11]. - Shareholders' equity increased slightly to ¥1,124,549,352.77 from ¥1,124,205,043.88, indicating stable retained earnings [18]. - The total equity attributable to the parent company was CNY 1,086,158,823.80 as of March 31, 2021 [37]. Expenses and Investments - Management expenses increased by 34.01% to ¥12,488,301.55 from ¥9,318,930.31, attributed to higher routine management costs [14]. - Financial expenses decreased by 48.71% to ¥4,991,551.58 from ¥9,732,897.85, mainly due to reduced financing costs from delayed project payments [14]. - Investment income surged by 669.58% to ¥1,306,533.15 from ¥169,772.89, driven by increased interest income from PPP project advances [14]. - The company reported a decrease in research and development expenses to ¥5,263,694.78 from ¥6,906,936.79, a reduction of 23.7% [23]. - Research and development expenses for Q1 2021 were CNY 4,394,936.16, a decrease from CNY 5,934,900.75 in Q1 2020, showing a reduction of about 25.9% [25]. Other Information - The company has not disclosed any new product developments or market expansion strategies in this report [6]. - The company has implemented new leasing standards affecting the financial statements as of January 1, 2021 [37].

Financial Performance - The company's operating revenue for 2020 was RMB 714,763,820.37, a decrease of 29.08% compared to RMB 1,007,890,013.01 in 2019[22]. - The net profit attributable to shareholders for 2020 was RMB 68,046,915.33, down 38.84% from RMB 111,255,061.81 in 2019[22]. - The company's basic and diluted earnings per share decreased by 33.33% in 2020, down to CNY 0.32 from CNY 0.48 in 2019[23]. - Operating revenue in 2020 fell by 29.08% compared to 2019, primarily due to the impact of the pandemic and project delays[23]. - Net profit attributable to shareholders decreased by 31.95% in 2020, with a net profit of CNY 2,635.98 million compared to CNY 3,870.00 million in 2019[23]. - The weighted average return on equity dropped to 8.94% in 2020, down from 14.2% in 2019, a decrease of 5.26 percentage points[23]. - The company reported a significant decline in revenue from the green environmental protection sector, which fell by 79.65% year-on-year[56]. - The revenue from the leisure tourism segment decreased by 25.46%, with a gross margin of 25.46%[53]. - The company reported a net profit margin decline due to reduced revenue, impacting overall profitability metrics[190]. Cash Flow and Assets - The net cash flow from operating activities improved to RMB 26,359,758.77 in 2020, compared to a negative cash flow of RMB 58,188,080.47 in 2019[22]. - Total assets increased to RMB 3,027,866,277.67 at the end of 2020, reflecting a growth of 3.07% from RMB 2,937,720,624.41 at the end of 2019[22]. - The company's net assets attributable to shareholders rose to RMB 1,086,158,823.80 at the end of 2020, a 4.72% increase from RMB 1,037,225,458.23 at the end of 2019[22]. - Accounts receivable increased by 325.57% to ¥524.32 million, primarily due to the implementation of new revenue recognition standards[69]. - The total amount of new contracts signed during the reporting period was ¥777.38 million, with 57 projects[77]. - The total amount of orders on hand at the end of the reporting period was ¥1,239.35 million, including ¥249.24 million for projects that have been signed but not yet started[78]. Strategic Focus and Market Position - The company emphasizes the importance of risk awareness in its forward-looking statements regarding future development plans and strategic goals[7]. - The company plans to focus on ecological landscape, green environmental protection, and leisure tourism as core areas for future growth[56]. - The company has shifted its focus from traditional government-funded projects to leisure tourism, aiming to reduce reliance on government investment and transition towards "big tourism consumption"[37]. - The company is committed to sustainable development strategies aligned with national goals such as "carbon peak" and "carbon neutrality," which are expected to create more market opportunities[39]. - The company is focusing on the East China region to enhance market competitiveness and reduce operational risks[43]. - The company aims to enhance its brand and overall strength to improve its competitive position in a consolidating market[44]. Governance and Compliance - The board of directors confirmed that all members attended the board meeting, ensuring the integrity of the annual report[5]. - The company has not violated any decision-making procedures for external guarantees[8]. - The company emphasizes the protection of shareholder and creditor interests through optimized governance structures and compliance with legal regulations[119]. - The company has established a commitment to maintain stock price stability through share repurchases if necessary[97]. - The company will ensure compliance with relevant laws and regulations regarding share repurchases and stock distribution[97]. Research and Development - Research and development expenses amounted to CNY 24.97 million, a decrease of 27.31% compared to the previous year[62]. - The company applied for 16 patents during the reporting period, including 4 invention patents[63]. - The company is actively pursuing technical innovation and transformation to strengthen its internal capabilities[42]. Shareholder Information - The company plans to distribute a cash dividend of RMB 0.6 per 10 shares, totaling RMB 17,108,523.6 to shareholders[6]. - The company reported a cash dividend payout ratio of 18.41% for 2020, with a total net profit of RMB 92,916,066.42[93]. - The total number of ordinary shares is 288,627,500, with 122,182,060 shares being tradable and 166,445,440 shares under restrictions[126]. Challenges and Risks - The company faced significant challenges in 2020 due to external uncertainties, including the impact of the pandemic and geopolitical tensions[32]. - The overall financing environment remains tight, increasing operational risks for the company[32]. - The company acknowledged risks related to the recovery of investments in traditional projects due to tightening government funding[90]. - The company is cautiously expanding its business due to the impact of the COVID-19 pandemic and external uncertainties[49].