Financial Performance - The company's operating revenue for Q1 2022 was ¥1,566,050,965.16, representing a year-on-year increase of 23.84%[6] - The net profit attributable to shareholders of the listed company was ¥170,300,281.24, reflecting a growth of 42.85% compared to the same period last year[6] - Basic and diluted earnings per share were both ¥0.161, up by 43.75% from the previous year[9] - Net profit for Q1 2022 was ¥181,923,456.92, compared to ¥134,841,504.58 in Q1 2021, representing an increase of approximately 35%[32] - Total operating revenue for Q1 2022 reached ¥1,566,050,965.16, an increase of approximately 24% compared to ¥1,264,614,148.79 in Q1 2021[30] - Total operating costs for Q1 2022 were ¥1,407,961,152.72, up from ¥1,130,046,827.04 in Q1 2021, reflecting a growth of about 24%[30] - Total comprehensive income for the period reached CNY 181,923,456.92, an increase from CNY 134,841,504.58 in the previous year, reflecting a growth of approximately 35%[35] - Basic and diluted earnings per share increased to CNY 0.161 from CNY 0.112, representing a growth of about 43.8%[35] Cash Flow - The net cash flow from operating activities reached ¥302,570,625.72, showing a significant increase of 150.41% year-on-year[6] - Net cash flow from operating activities was CNY 302,570,625.72, significantly higher than CNY 120,828,729.10 in the same period last year, marking an increase of approximately 150%[39] - Cash inflow from operating activities totaled CNY 2,025,072,173.76, compared to CNY 1,791,758,420.94, indicating a rise of about 13.0%[39] - Cash outflow from operating activities was CNY 1,722,501,548.04, up from CNY 1,670,929,691.84, which is an increase of approximately 3.1%[39] - The company reported a net increase in cash and cash equivalents of CNY 263,268,519.03, contrasting with a decrease of CNY -387,670,415.00 in the previous year[41] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥18,118,845,689.25, an increase of 4.53% from the end of the previous year[9] - The company's total liabilities amounted to ¥11,650,844,182.49, an increase from ¥11,120,550,830.37 in the previous year[30] - The total equity attributable to shareholders reached ¥5,686,394,763.63, up from ¥5,493,419,354.32, indicating a growth of about 4%[30] - Total current assets as of March 31, 2022, amounted to CNY 8,208,803,898.58, an increase from CNY 7,618,103,872.40 in the previous year[21] - Total assets as of March 31, 2022, were CNY 18,118,845,689.25, compared to CNY 17,333,436,931.69 a year earlier[25] Shareholder Information - The company reported a total of 25,078 shareholders at the end of the reporting period[20] - The largest shareholder, Li Weiguo, holds 19.77% of the shares, totaling 210,614,886 shares[20] - The company has a total of 10,800,019 shares held by shareholder Ye Zaojun, which are under a credit guarantee securities account[20] - The company has not identified any related party transactions among the top shareholders, except for the relationship between Li Weiguo and Li Xingguo, who are brothers[20] Research and Development - Research and development expenses rose by 59.46% to ¥5,245,860.00, indicating an increase in R&D activities[12] - Research and development expenses for Q1 2022 were ¥52,458,574.90, compared to ¥32,898,149.45 in Q1 2021, marking an increase of approximately 59%[30] Cash and Cash Equivalents - The company's cash and cash equivalents increased by 31.22% to ¥112,263,450.00, primarily due to increased bank loans and sales collections[10] - Cash and cash equivalents reached CNY 1,122,634,506.58, up from CNY 855,507,652.49 year-over-year[21] - The company's cash and cash equivalents increased to ¥608,743,755.10 from ¥975,172,113.02, indicating a decrease of about 37%[30] - The ending cash and cash equivalents balance was CNY 900,739,693.10, up from CNY 818,784,413.19, indicating an increase of about 10%[41] Investment Activities - The company reported a net cash outflow from investing activities of ¥36,848,780.00, a decrease of 37.68% year-on-year, mainly due to reduced investments in PPP projects[12] - Net cash flow from investing activities was negative at CNY -368,487,810.91, an improvement from CNY -591,305,418.57 year-over-year[41]

Financial Performance - The company's operating revenue for 2021 was ¥7,826,771,311.40, representing a 14.65% increase compared to ¥6,826,732,844.62 in 2020[29]. - Net profit attributable to shareholders for 2021 was ¥726,253,042.30, a 32.03% increase from ¥550,071,321.50 in 2020[29]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥688,366,269.37, a 26.85% increase from ¥542,644,658.67 in 2020[29]. - The company's total assets at the end of 2021 were ¥17,333,436,931.69, a 12.33% increase from ¥15,430,249,544.30 at the end of 2020[29]. - The basic earnings per share for 2021 was ¥0.692, up 19.72% from ¥0.578 in 2020[29]. - The company reported a significant increase in operational projects, particularly in waste incineration power generation, contributing to revenue growth[31]. - In 2021, the company achieved operating revenue of 7.827 billion yuan, a year-on-year increase of 14.65%[81]. - The net profit attributable to shareholders reached 726 million yuan, representing a year-on-year growth of 32.03%[81]. Cash Flow and Investments - The net cash flow from operating activities decreased by 44.26% to ¥606,918,265.12 in 2021, down from ¥1,088,819,042.28 in 2020[29]. - The company plans to raise a total of 2.758 billion yuan through a non-public offering of A-shares to enhance its core competitiveness and reduce its debt ratio[52]. - The company plans to adjust the total distribution amount if there are changes in total shares due to options exercise or share repurchase before the record date[7]. - The company has experienced a longer cash collection cycle for environmental remediation projects due to regulatory changes, affecting cash flow[31]. - The company has pledged 51% of its subsidiary's equity and various project income rights as collateral for loans[129]. Operational Efficiency and Growth - The company’s operational efficiency improved, with an 11% increase in per capita effectiveness due to performance improvements and training initiatives[47]. - The company processed 384,033.90 tons of various solid and hazardous waste in 2021, producing a total of 80,340.98 tons of recycled products, effectively reducing carbon emissions[48]. - The company generated 1.203 billion kWh of electricity from waste incineration in 2021, resulting in a carbon emission reduction of 610,000 tons[48]. - The company’s investment in operational segments has shown significant returns, with operational income now accounting for 61.87% of total revenue[45]. - The company has established a unified procurement center for raw materials to enhance resource utilization project efficiency[44]. Risk Management and Compliance - The company has detailed potential risks in the "Management Discussion and Analysis" section of the report[11]. - The board of directors has ensured the authenticity, accuracy, and completeness of the annual report[4]. - The company has not violated decision-making procedures for external guarantees[9]. - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[9]. - The company has not faced any issues with more than half of the directors being unable to guarantee the report's authenticity[9]. Corporate Governance and Shareholder Engagement - The company has established a robust corporate governance structure, ensuring clear responsibilities and effective checks and balances among the board, supervisory board, and management[158]. - The company operates independently from its controlling shareholders in terms of business, personnel, assets, and finance, maintaining complete operational autonomy[159]. - The company held five temporary shareholder meetings in 2021, addressing various resolutions including investment agreements and capital changes[161]. - The company has not faced significant differences in governance compared to regulatory requirements, ensuring compliance with laws and regulations[158]. - The company’s independent directors have not held shares during the reporting period, receiving a fixed remuneration of 80,000 RMB each[164]. Research and Development - The company has over 600 authorized patents and has participated in the development of 86 national and industry standards, showcasing its leading R&D capabilities[74]. - Research and development expenses increased by 16.97% to 247.36 million RMB, up from 211.47 million RMB in 2020[99]. - The number of R&D personnel is 356, accounting for 9.67% of the total workforce[120]. - The total R&D investment accounted for 3.21% of total revenue, with capitalized R&D expenses making up 1.49%[119]. Market Position and Future Outlook - The company has established a strong market position in solid waste treatment and environmental remediation, leveraging its first-mover advantage[155]. - The company anticipates increased competition in the environmental services sector due to the entry of large state-owned enterprises and private capital[155]. - Future guidance indicates a projected revenue growth of approximately 15% for the upcoming fiscal year, driven by new product launches and market expansion efforts[171]. - The company plans to expand its market presence and is focusing on new product development and technological advancements to enhance its competitive edge[171]. Employee Engagement and Development - The company has implemented a salary policy that emphasizes strategic, incentive-based, fair, competitive, and socially responsible principles, linking employee compensation directly to performance[197]. - The company continues to promote the "OKR" management method and has introduced a compensation distribution plan that allows employees to have a say in their salaries based on their contributions[197]. - The company is committed to creating a leading learning organization, viewing learning ability as a key competency for employees and providing continuous training opportunities[198]. - The company has implemented a performance-based compensation system, achieving a 100% coverage rate for its entrepreneurial platform's excess profit sharing plan[49].

Financial Performance - The company's operating revenue for Q3 2021 reached ¥2,113,858,917.07, representing a year-on-year increase of 24.76%[7] - Net profit attributable to shareholders for the same period was ¥193,133,775.26, reflecting a growth of 34.17% compared to the previous year[7] - The net profit after deducting non-recurring gains and losses was ¥182,777,364.98, which is an increase of 33.51% year-on-year[7] - Basic earnings per share for Q3 2021 were ¥0.182, up 32.85% from the same period last year[9] - Total operating revenue for the first three quarters of 2021 reached ¥5,485,317,880.16, a 27.1% increase from ¥4,317,577,626.53 in the same period of 2020[34] - Net profit for the first three quarters of 2021 was ¥642,043,106.86, representing a 40.2% increase compared to ¥457,830,993.44 in 2020[36] - Earnings per share (EPS) for the first three quarters of 2021 was ¥0.552, compared to ¥0.424 in the same period of 2020, reflecting a 30.2% increase[38] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥17,191,999,164.13, an increase of 11.42% compared to the end of the previous year[9] - The company's total assets reached approximately CNY 17.19 billion, an increase from CNY 15.43 billion at the end of 2020, representing a growth of about 11.4%[23] - The company's current assets totaled CNY 6.99 billion, up from CNY 5.95 billion at the end of 2020, indicating a growth of approximately 17.5%[23] - The company's total liabilities amounted to ¥11,204,477,000.78, compared to ¥10,095,834,149.05 in the previous year, showing a growth in leverage[34] - The total liabilities of the company were not explicitly stated, but the increase in current liabilities suggests a potential rise in financial leverage[27] Cash Flow - The company reported a net cash flow from operating activities of ¥406,775,800.70 for the year-to-date, showing a decline of 22.69% year-on-year[9] - The net cash flow from operating activities was 406,775,800.70, a decrease of 22.7% compared to 526,167,881.21 from the previous period[42] - Total cash outflow from operating activities amounted to 5,703,527,875.53, up 40.4% from 4,063,875,370.90[42] - The net cash flow from investing activities was -1,197,524,015.85, an improvement from -1,682,473,228.46 in the previous period[42] - Cash inflow from financing activities totaled 2,415,073,536.47, slightly down by 1.0% from 2,440,553,991.53[42] - The net cash flow from financing activities was 353,416,158.25, a decrease of 70.3% compared to 1,187,423,436.93[42] Shareholder Information - The company had a total of 27,321 common shareholders at the end of the reporting period, with the largest shareholder holding 19.82% of the shares[16] - The total equity attributable to shareholders reached ¥5,354,127,250.80, marking a 13.19% increase from the previous year[9] - The total equity attributable to shareholders reached ¥5,354,127,250.80, up from ¥4,730,324,558.30, indicating a strengthening of the company's financial position[34] Operational Insights - The increase in net profit is primarily attributed to the successful development of solid waste and hazardous waste resource utilization business, along with an increase in the number of operational waste incineration plants[14] - Research and development expenses increased to ¥129,785,442.00, up from ¥112,341,794.46, indicating a focus on innovation[34] - The company has not disclosed any new product developments or market expansion strategies during this reporting period[22] Other Financial Metrics - Non-recurring gains and losses for the reporting period totaled ¥10,356,410.28, with government subsidies contributing significantly to this figure[10] - The company reported a significant increase in investment income to ¥91,212,471.82, compared to ¥73,728,008.22 in the previous year, reflecting improved investment performance[34] - The cash and cash equivalents decreased to CNY 953.28 million from CNY 1.30 billion, a decline of about 26.5%[23] - Accounts receivable increased to CNY 987.10 million, compared to CNY 868.70 million in the previous year, reflecting a growth of approximately 13.6%[23] - Inventory rose significantly to CNY 1.79 billion, up from CNY 1.20 billion, marking an increase of about 49.7%[23] - Short-term borrowings surged to CNY 2.71 billion, compared to CNY 1.52 billion, representing an increase of approximately 78.9%[27] - The company's long-term equity investments increased to CNY 910.10 million from CNY 870.12 million, a growth of about 4.6%[27] - The company reported a significant increase in contract assets to CNY 1.97 billion, up from CNY 1.68 billion, indicating a growth of approximately 17.2%[23]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2021, representing a year-on-year increase of 15%[17] - The net profit attributable to shareholders was RMB 200 million, up 10% compared to the same period last year[17] - The company's operating revenue for the first half of the year reached ¥3,371,458,963.09, representing a year-on-year increase of 28.53% compared to ¥2,623,185,759.85 in the same period last year[22] - Net profit attributable to shareholders increased by 44.91% to ¥390,512,764.05 from ¥269,484,323.25 year-on-year[22] - The net profit after deducting non-recurring gains and losses also saw a growth of 44.41%, amounting to ¥381,527,830.11 compared to ¥264,196,047.56 in the previous year[22] - The company achieved operating revenue of 3.37 billion yuan, a year-on-year increase of 28.53%[60] - Net profit attributable to shareholders reached 391 million yuan, up 44.91% compared to the same period last year[60] User Growth and Market Expansion - The company has expanded its user base by 25%, reaching a total of 500,000 active users[17] - Future outlook indicates a projected revenue growth of 20% for the second half of 2021, driven by new product launches and market expansion[17] - Market expansion efforts include entering three new provinces, which are expected to contribute an additional RMB 300 million in revenue[17] - The company plans to introduce two new product lines by Q4 2021, targeting both domestic and international markets[17] - User data showed an increase in active users by 20% compared to the previous quarter, reaching a total of 5 million active users[197] - Market expansion plans include entering two new international markets by Q4 2023, targeting a 5% market share within the first year[196] Research and Development - The company is investing RMB 100 million in R&D for new technologies aimed at enhancing waste management solutions[17] - The company is investing in new technology development, allocating $10 million for R&D in AI and machine learning[200] Environmental Initiatives - The management highlighted a strategic focus on sustainability and environmental protection in its future projects[17] - The environmental protection industry is expected to expand significantly, driven by national policies aimed at carbon neutrality and increased market opportunities in the waste management sector[32] - The company is focusing on improving its environmental compliance and reducing emissions through new technologies and strategies[106] - The company promotes a green low-carbon philosophy, integrating energy conservation and environmental protection, and aims to improve resource and energy utilization efficiency[130] - The company has established a robust hazardous waste management plan, ensuring that all hazardous waste is treated by qualified entities and maintaining proper records[119] Financial Risks and Challenges - Risk factors include potential regulatory changes and market competition, which could impact future performance[17] - The company faces significant risks from industry policy changes, which could impact order acquisition and implementation in the environmental protection sector[81] - Intense competition in solid waste treatment and environmental restoration is noted, with many competitors seeking to enhance their technical capabilities and market presence[82] - The fluctuation of raw material and product prices poses a risk, but the company focuses on resource utilization and has strategies to mitigate price volatility[87] - The impact of the COVID-19 pandemic on the economy remains uncertain, with potential delays in project timelines and payments[88] Operational Efficiency - The company has enhanced its operational capabilities in solid waste treatment, expanding from single solid waste projects to a collaborative capacity for multiple types of solid waste projects[41] - The system has achieved co-production operation, significantly shortening the raw material pretreatment cycle, and processing costs have decreased by 15% compared to the previous year's average, enhancing project profitability[80] - The company aims to reduce operational costs by 8% through efficiency improvements in the supply chain[199] Employee Engagement and Compensation - The company has implemented a series of incentive measures, rewarding 783 individuals with over 50 million shares to enhance employee motivation and support long-term performance growth[43] - The company has adopted a differentiated compensation distribution system to link employee compensation with performance contributions, maximizing employee engagement[43] Corporate Governance and Compliance - The company has made important commitments regarding related party transactions and competition, ensuring compliance and transparency in its operations[135] - The company has established a long-term commitment to stabilize its stock price since the initial public offering[141] - The company has not received any non-operating fund occupation from controlling shareholders or related parties during the reporting period[145] Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue growth of 10% to 12%[198] - New product launches are expected to contribute an additional $50 million in revenue by the end of the fiscal year[199] - The company is considering strategic acquisitions to enhance its product offerings, with a budget of $100 million set aside for potential deals[197] Shareholder Information - The total number of ordinary shareholders reached 27,895 by the end of the reporting period[175] - The largest shareholder, Li Weiguo, holds 209,414,886 shares, representing 19.81% of the total shares[175] - The total number of restricted shares at the end of the period was 59,272,578, indicating an increase of 2,780,887 shares[174] Emissions and Environmental Compliance - The company reported a total emission of 2.207 tons of particulate matter with a concentration of 14.44 mg/m³, which is below the approved limit of 8.06 tons per year[101] - The company has implemented a comprehensive environmental monitoring plan, with no instances of exceeding pollutant discharge standards reported during the year[122] - The company has completed the annual review of its pollutant discharge permits and complied with local government regulatory requirements[120]

Financial Performance - The company's operating revenue for 2020 was approximately ¥6.83 billion, representing a 34.51% increase compared to ¥5.08 billion in 2019[24]. - The net profit attributable to shareholders for 2020 was approximately ¥550.07 million, a 33.51% increase from ¥412.02 million in 2019[24]. - The net cash flow from operating activities for 2020 was approximately ¥1.09 billion, reflecting a 38.41% increase from ¥786.68 million in 2019[24]. - The total assets at the end of 2020 were approximately ¥15.43 billion, a 34.70% increase from ¥11.46 billion at the end of 2019[24]. - The basic earnings per share for 2020 was ¥0.752, up 21.68% from ¥0.618 in 2019[24]. - The company reported a weighted average return on equity of 14.25% for 2020, an increase of 0.24 percentage points from 14.01% in 2019[24]. - The company's operating income for 2020 was 6.827 billion RMB, an increase of 34.51% year-on-year[86]. - The operating costs for the same period were 5.246 billion RMB, reflecting a year-on-year increase of 34.55%[86]. - The net cash flow from operating activities was 1.089 billion RMB, up 38.41% from the previous year[86]. - The company’s financing activities generated a net cash flow of 1.994 billion RMB, a significant increase of 83.53% year-on-year[86]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.70 per 10 shares and to convert capital reserves into shares at a ratio of 3 shares for every 10 shares held[6]. - The cash dividend per 10 shares for 2020 was ¥0.70, consistent with the previous year, while the stock bonus was 3 shares per 10 shares[154]. - The company has committed to a cash dividend policy ensuring that at least 10% of the distributable profit will be distributed as cash dividends annually[151]. - The company plans to maintain a cash dividend proportion of no less than 20% in its profit distribution during its growth phase[151]. - In 2020, the company distributed cash dividends amounting to ¥56,640,000.55, representing 10.30% of the net profit attributable to ordinary shareholders[154]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[5]. - The company emphasizes the importance of accurate and complete financial reporting, with management responsible for the integrity of the report[4]. - The company has made commitments regarding related party transactions and competition, ensuring compliance with regulations[157]. - The company committed to avoid competition with its major shareholder, Li Weiguo, as detailed in the prospectus[165]. - The company has engaged Tianjian Accounting Firm for auditing services, with a remuneration of RMB 60,000 for five years[189]. Business Operations and Strategy - The company has outlined its future plans and development strategies, which are subject to investment risks[7]. - The company aims to become a global leader in environmental system services, emphasizing technological innovation and public service[34]. - The company has developed a comprehensive environmental service platform, including wastewater treatment and flue gas treatment[34]. - The company is positioned for growth in its solid waste and hazardous waste resource utilization business, which is a key strategic focus[45]. - The company plans to expand its operations in the East and Southwest regions, where revenue growth has been significant[95]. Market and Industry Trends - The company anticipates favorable developments in the solid waste treatment industry due to new national and industry standards being implemented[128]. - The solid waste and hazardous waste resource utilization market is expected to expand due to stricter regulations, benefiting larger companies with capital and operational advantages[129]. - Urban household waste incineration processing volume increased from 11 million tons in 2006 to 122 million tons in 2019, with incineration accounting for 51% of harmless treatment by 2019[129]. Risks and Challenges - The company faces risks from industry policy changes, particularly regarding subsidies for waste incineration power generation[140]. - The impact of the COVID-19 pandemic on the economy remains uncertain, with potential delays in project timelines and payment from owners[149]. - The company has implemented hedging strategies to mitigate risks associated with commodity price fluctuations[148]. - The company is implementing measures to manage accounts receivable risks, including enhancing client credit assessments and improving collection processes[145]. Acquisitions and Investments - The company completed the acquisition of 51% equity in Hangzhou New Materials, expanding its solid waste resource utilization business[64]. - The company acquired 40% of Yangxin Pengfu for a total consideration of CNY 190 million and cash payment of CNY 20 million[119]. - The company acquired 30.01% of Jingyuan Gaoneng for a total consideration of CNY 127.55 million and cash payment of CNY 30 million[119]. - The company acquired 19.01% of Jingyuan Gaoneng for a total consideration of CNY 79.80 million and cash payment of CNY 20 million[119]. Legal Matters - The company is currently involved in arbitration regarding claims against the former shareholders of Guizhou Hongda, with no resolution as of yet[173]. - The company has been involved in a major lawsuit related to the acquisition of Guizhou Hongda, with an unresolved claim amounting to RMB 57,120,200[197]. - The company reported a significant arbitration case involving Jilin Guoyuan Investment Holding Group, with a total claim amount of RMB 12,568,130.81[194]. - The arbitration ruling required Jilin Guoyuan to pay the claimed amount within ten days, but the payment has not been made, leading to a forced execution application by the company[194]. Research and Development - The company holds 390 authorized patents and has participated in the development of 84 national and industry standards, showcasing its strong R&D capabilities[47]. - The company invested 21,147.26 million in R&D, representing 3.10% of total revenue[102]. - The company has achieved a 20% improvement in reduction smelting capacity and a 5% increase in the recovery rate of valuable metals through its advanced technologies in hazardous waste resource utilization[48].

Financial Performance - Operating revenue increased by 55.57% to CNY 1,264,614,148.79 year-on-year[12] - Net profit attributable to shareholders increased by 69.22% to CNY 119,219,094.05 compared to the same period last year[12] - Basic earnings per share increased by 37.74% to CNY 0.146 per share compared to the previous year[12] - Net profit doubled, increasing by 102.63% year-on-year to RMB 13,484.15 million, primarily due to higher operating income[22] - Net profit for Q1 2021 was CNY 134,841,504.58, up from CNY 66,546,123.56 in Q1 2020, indicating a growth of approximately 102.4%[46] - Total profit reached ¥45.71 million, up from ¥34.38 million, marking a year-over-year increase of 33.0%[52] - Net profit for the period was ¥39.25 million, compared to ¥29.09 million in the previous year, reflecting a growth of 35.1%[52] Cash Flow - Net cash flow from operating activities rose by 44.14% to CNY 120,828,729.10 year-on-year[12] - Cash flow from operating activities improved by 44.14% year-on-year, reaching RMB 12,082.87 million, mainly from the recovery of project payments[25] - Cash inflow from operating activities generated ¥120.83 million, an increase from ¥83.83 million year-over-year, indicating a growth of 44.4%[54] - Cash inflow from investing activities amounted to $57,747,126.15, while cash outflow was $42,327,358.17, resulting in a net cash inflow of $15,419,767.98[60] - Cash inflow from financing activities was $303,365,521.37, a decrease of 4% from $315,962,839.21 in the previous period[60] - The company reported a total cash decrease of $366,468,311.76, compared to a decrease of $321,597,675.80 in the prior year[60] Assets and Liabilities - Total assets decreased by 2.49% to CNY 15,045,557,279.90 compared to the end of the previous year[12] - Total liabilities decreased from 10,095,834,149.05 to 9,558,719,032.79, a reduction of approximately 5.3%[34] - Current liabilities decreased from 5,236,555,734.63 to 4,723,383,371.38, representing a decline of about 9.8%[34] - Total equity increased from 5,334,415,395.25 to 5,486,838,247.11, reflecting an increase of about 2.8%[36] - The total liabilities decreased to CNY 5,937,182,622.88 in Q1 2021 from CNY 6,814,370,962.48 in Q1 2020, a reduction of about 12.9%[46] Shareholder Information - The number of shareholders at the end of the reporting period was 30,141[17] - The largest shareholder, Li Weiguo, holds 19.36% of the shares, totaling 157,228,373 shares[17] Operating Costs and Expenses - Operating costs rose by 53.80% year-on-year to RMB 92,639.43 million, correlating with the increase in operating revenue[22] - Research and development expenses grew by 33.93% year-on-year to RMB 3,289.81 million, reflecting increased investment in R&D[22] - Other income saw a significant increase of 107.92% year-on-year, totaling RMB 837.92 million, mainly from government subsidies[22] - Research and development expenses for Q1 2021 totaled CNY 32,898,149.45, up from CNY 24,563,176.16 in Q1 2020, which is an increase of approximately 33.9%[46] Cash and Cash Equivalents - Cash and cash equivalents decreased by 30.92% to CNY 89,566,960.00 due to repayment of part of green corporate bonds[18] - Cash and cash equivalents decreased from 671,211,678.67 to 306,506,951.66, a decline of approximately 54.4%[36] - The company’s cash and cash equivalents at the end of the period totaled ¥818.78 million, compared to ¥763.20 million at the end of the previous year, showing an increase of 7.3%[56] - The ending cash and cash equivalents balance was $249,064,935.70, up from $193,762,838.99 in the previous period[60] Government Subsidies - The company received government subsidies amounting to CNY 4,719,568.61 during the reporting period[15] - Investment income rose by 77.00% year-on-year to RMB 3,027.30 million, attributed to the disposal of certain investments and profitable futures trading[22]

Financial Performance - Operating revenue for the first nine months reached CNY 4,317,577,626.53, a 36.15% increase year-on-year[18] - Net profit attributable to shareholders increased by 31.70% to CNY 413,436,386.62 compared to the same period last year[18] - Basic earnings per share rose by 22.15% to CNY 0.579 compared to the same period last year[20] - Diluted earnings per share increased by 31.58% to CNY 0.575 compared to the same period last year[20] - The weighted average return on net assets improved by 1.36 percentage points to 12.391%[20] - The company reported a net profit for Q3 2020 of ¥181,848,364.81, compared to ¥143,992,032.37 in Q3 2019, indicating a growth of 26.2%[64] - The total revenue for Q3 2020 reached ¥1,694,391,866.68, a 55.4% increase from ¥1,090,632,370.05 in Q3 2019[58] - The net profit for Q3 2020 was approximately ¥164.70 million, compared to ¥127.01 million in Q3 2019, representing a year-over-year increase of 29.7%[67] Assets and Liabilities - Total assets increased by 24.80% to CNY 14,296,210,217.59 compared to the end of the previous year[18] - Total liabilities reached CNY 9.18 billion, up from CNY 7.79 billion, which is an increase of approximately 17.8%[47] - Long-term borrowings rose by 70.57% year-to-date, driven by increased project financing[28] - Current assets totaled CNY 5.65 billion, compared to CNY 4.48 billion in the previous period, marking an increase of about 26.4%[44] - Total liabilities increased slightly to ¥6,739,855,246.79 from ¥6,622,919,177.06, a growth of 1.8%[56] - The total liabilities to equity ratio stands at approximately 2.13, indicating a leveraged capital structure[97] Cash Flow - Net cash flow from operating activities for the first nine months was CNY 526,167,881.21, up 48.90% year-on-year[18] - The net cash flow from operating activities improved by 48.90%, amounting to 52,616.79 million RMB compared to 35,336.74 million RMB in the previous year[33] - The company reported a net cash flow from operating activities of CNY 526,167,881.21 for the first three quarters of 2020, an increase of 49% compared to CNY 353,367,359.13 in the same period of 2019[85] - Total cash inflow from operating activities reached CNY 4,590,043,252.11, up from CNY 3,785,283,006.60 year-over-year, reflecting a growth of approximately 21%[85] - The company's cash outflow for operating activities was CNY 4,063,875,370.90, compared to CNY 3,431,915,647.47 in the previous year, indicating an 18% increase[85] Shareholder Equity - Net assets attributable to shareholders increased by 45.13% to CNY 4,542,500,872.84 compared to the end of the previous year[18] - The company's equity attributable to shareholders rose to CNY 4.54 billion, compared to CNY 3.13 billion, reflecting an increase of approximately 45.1%[48] - The total equity increased to ¥3,929,678,268.72 from ¥2,577,249,817.87, marking a growth of 52.5%[56] Inventory and Prepayments - Inventory levels were affected by the implementation of new revenue accounting standards, impacting the financial statements[28] - Prepayments increased by 95.28% year-to-date, mainly due to higher prepayments for equipment and subcontracting[28] - Inventory decreased significantly to CNY 219.15 million from CNY 1.87 billion, indicating a reduction of about 88.3%[50] Government Subsidies and Other Income - The company reported government subsidies of CNY 9,462,091.90 for the first nine months[21] - The fair value change income surged by 446.18%, attributed to hedging activities to mitigate price fluctuations of nickel and copper[32] - The company reported a significant increase in prepayments to ¥644,843,846.98 from ¥242,647,870.56, a rise of 166.5%[62] Financial Management - The company is implementing new financial accounting standards effective from January 1, 2019, impacting financial reporting[105] - The company has not disclosed any new product developments or market expansion strategies in the current report[106]

Financial Performance - Net profit attributable to shareholders increased by 28.84% to CNY 70,452,817.53 year-on-year[12] - Operating revenue rose by 18.80% to CNY 812,879,055.95 compared to the same period last year[12] - Basic earnings per share increased by 27.71% to CNY 0.106 per share[12] - The company reported a decrease in total profit to CNY 34,381,574.22 from CNY 51,491,406.25 year-over-year, reflecting a decline of approximately 33%[50] - Net profit for Q1 2020 reached CNY 66,546,123.56, compared to CNY 58,987,190.65 in Q1 2019, representing an increase of 12.6%[44] - Total operating revenue for Q1 2020 was CNY 812,879,055.95, an increase of 19% compared to CNY 684,250,118.94 in Q1 2019[42] - Basic earnings per share for Q1 2020 were CNY 0.106, compared to CNY 0.083 in Q1 2019, indicating a growth of 27.7%[46] Cash Flow - Net cash flow from operating activities increased by 43.88% to CNY 83,828,978.13 year-on-year[12] - Cash flow from operating activities for the first quarter of 2020 was CNY 83,828,978.13, an increase of 44% compared to CNY 58,261,346.40 in the first quarter of 2019[54] - Cash flow from investing activities showed a net outflow of CNY 507,619,936.03 in the first quarter of 2020, compared to a net outflow of CNY 208,439,470.85 in the first quarter of 2019[56] - Cash flow from financing activities resulted in a net inflow of CNY 480,384,064.10, down from CNY 606,319,661.56 in the first quarter of 2019[56] - Cash paid for purchasing goods and services amounted to 793,570,555.13, compared to 442,577,082.97 in the prior period, showing a substantial increase in operational expenses[59] Assets and Liabilities - Total assets increased by 4.51% to CNY 11,971,841,889.05 compared to the end of the previous year[12] - Total liabilities increased to CNY 8,124,491,634.17, up from CNY 7,794,573,727.43, representing a growth of approximately 4.23%[32] - Non-current liabilities rose to ¥4,301,796,384.43 from ¥3,839,693,266.82, marking an increase of about 12.06%[32] - Current liabilities totaled ¥3,822,695,249.74, a decrease from ¥3,954,880,460.61, reflecting a decline of approximately 3.34%[32] - The company's long-term equity investments grew to ¥795.62 million, compared to ¥705.77 million in the previous year[29] Shareholder Information - The number of shareholders reached 34,927 at the end of the reporting period[15] - The top shareholder, Li Weiguo, holds 22.22% of the shares, totaling 151,168,373 shares[15] Expenses - Financial expenses surged by 264.33% to ¥50.45 million, primarily due to interest accrued on green bonds and increased fixed asset loan interest[21] - Management expenses increased by 43.24% to ¥75.91 million, mainly due to higher consulting fees and employee compensation[21] - Research and development expenses for Q1 2020 totaled CNY 24,563,176.16, slightly higher than CNY 23,451,317.16 in Q1 2019[44] Investment Income - Investment income rose significantly by 226.54% to ¥17.10 million, mainly driven by substantial profit growth from an associated company[21] - The company reported an investment income of CNY 17,102,970.55 for Q1 2020, compared to CNY 5,237,624.40 in Q1 2019, marking a significant increase[44] Changes in Financial Indicators - Significant changes in financial indicators include a 180.09% increase in notes receivable to CNY 1,648.79 million[19] - The company reported a decrease of 67.15% in receivables financing to CNY 1,020.00 million compared to the previous year[19] - The company's receivables increased by 180.09% year-over-year, reflecting a rise in customer acceptance bills[20]

Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.70 per share (including tax) to all shareholders for every 10 shares held, based on the total share capital after deducting shares in the repurchase account[7]. - The company will not conduct capital reserve transfers to increase share capital or issue bonus shares in the current profit distribution plan[7]. - In 2019, the company distributed cash dividends amounting to approximately 46.75 million RMB, representing 11.35% of net profit attributable to shareholders[164]. - The company has a cash dividend policy ensuring at least 10% of distributable profits are returned to shareholders, with a minimum of 20% in cash during growth phases[163]. Financial Performance - The company's operating revenue for 2019 was CNY 5,075,386,924.73, representing a 34.90% increase compared to 2018[23]. - The net profit attributable to shareholders for 2019 was CNY 412,015,129.41, a 26.92% increase from the previous year[23]. - The net cash flow from operating activities reached CNY 786,678,020.55, showing a significant increase of 144.24% year-on-year[23]. - The total assets at the end of 2019 amounted to CNY 11,455,167,855.46, reflecting a 34.99% growth compared to 2018[23]. - The basic earnings per share for 2019 was CNY 0.618, which is a 24.10% increase from 2018[23]. - The company reported a weighted average return on equity of 14.01% for 2019, an increase of 0.56 percentage points from the previous year[23]. Operational Highlights - The company has maintained its commitment to environmental technology and services, focusing on solid waste management and hazardous waste treatment[14]. - The company engaged in environmental remediation and solid waste treatment, focusing on core business areas such as hazardous waste treatment and municipal solid waste management[30]. - The company aims to become a global leader in environmental system services, emphasizing technological innovation and public service[30]. - The company has expanded its operations through investments in related companies, enhancing its capabilities in waste management and environmental services[36]. - The company has completed over 100 specialized remediation projects, with some becoming industry demonstration projects, showcasing its extensive project experience[52]. Research and Development - The company has 324 patented technologies and 21 software copyrights, emphasizing technological innovation as a core strategy[48]. - The company has established a comprehensive innovation system, participating in 5 major national R&D projects and obtaining 11 related technological achievements in 2019[67]. - The company developed several new technologies and products, including an ecological closure barrier technology for landfills and a multi-dimensional pollution control system[106]. - The company's R&D investment totaled 16,019.16 million, accounting for 3.16% of total revenue[103]. - The number of R&D personnel was 276, making up 10.46% of the total workforce[103]. Market Position and Strategy - The company aims to build a "waste-free city" by extending its industrial chain from waste classification to final disposal, enhancing its comprehensive environmental solutions[52]. - The company is actively seeking quality targets for investment and acquisition to enhance its hazardous waste treatment capabilities[66]. - The company is positioned as a leading enterprise in the environmental remediation industry, with plans to enhance technology research and development, talent training, and market expansion[136]. - The company plans to continue expanding its market share in the environmental remediation industry through increased investment in technology and project development[136]. Financial Risks and Challenges - The company faces risks related to a tight macro financing environment, despite improvements in the overall financing landscape for the environmental protection industry[150]. - The company faces intense competition in environmental remediation and waste-to-energy sectors, with numerous competitors and low market concentration[153]. - Accounts receivable have increased alongside revenue growth, posing liquidity and bad debt risks; the company has enhanced management and tracking of receivables[154]. - Fluctuations in commodity prices, particularly for metals like copper and lead, could impact project profitability; the company plans to mitigate this through production efficiency and hedging strategies[158]. Legal and Compliance Issues - The company has ongoing litigation with Jilin Guoyuan Investment Holding Group, with an arbitration amount of CNY 5.2288 million[189]. - The company is currently pursuing enforcement of a ruling for a payment of RMB 12,568,130.81 from Jilin Guoyuan Investment Holding Group Co., Ltd. due to non-compliance with an arbitration decision[194]. - The company has been involved in multiple arbitration and litigation cases, reflecting ongoing legal challenges[194]. - The company is committed to ensuring compliance with legal rulings and pursuing outstanding payments through legal channels[194]. Corporate Governance - The company has made important commitments regarding related party transactions and competition resolution, ensuring compliance during the asset acquisition process[169]. - The company has committed to a share lock-up period of 12 months from the date of share issuance, with gradual unlocking based on performance commitments[169]. - The commitments made by the controlling shareholder and actual controller, Li Weiguo, regarding share lock-up and price stabilization are effective indefinitely from the date of the company's initial public offering[175]. - The company has ensured that all commitments made by its directors and senior management during the asset acquisition process are legally binding and will be adhered to[173].

Financial Performance - Net profit attributable to shareholders was CNY 313,924,430.31, reflecting a growth of 30.06% year-on-year[21]. - Operating revenue for the first nine months was CNY 3,171,297,981.53, up 41.87% from the same period last year[21]. - Basic earnings per share increased by 29.86% to CNY 0.474[23]. - The company reported a net profit of ¥1,506,323,382.11, up from ¥1,225,932,744.20, indicating a year-over-year increase of about 22.9%[49]. - The total comprehensive income for the period was approximately CNY 71.43 million, compared to CNY 59.02 million in the same period last year, reflecting an increase of about 20.5%[67]. - The net profit for Q3 2019 was ¥127,009,878.88, representing a 22.5% increase compared to ¥103,583,717.32 in Q3 2018[57]. - The net cash flow from operating activities was CNY 353.37 million, compared to CNY 145.74 million in the previous year, indicating a significant increase of about 142.5%[69]. Assets and Liabilities - Total assets reached CNY 11,101,721,478.01, an increase of 30.83% compared to the end of the previous year[21]. - Total liabilities reached ¥7,510,296,946.46, up from ¥5,435,708,428.68, indicating a growth of around 38.2%[47]. - Current assets totaled ¥5,159,939,788.53, compared to ¥3,532,151,655.99, reflecting an increase of about 46%[49]. - Non-current assets rose to ¥5,941,781,689.48 from ¥4,953,649,361.71, marking an increase of approximately 20%[49]. - The total liabilities and equity amounted to ¥11,101,721,478.01, consistent with the total assets, confirming the balance sheet integrity[49]. - The total assets amounted to $8.49 billion, with current assets totaling $3.53 billion[76]. - The total liabilities reached $5.44 billion, with current liabilities at $3.71 billion[79]. Shareholder Information - The company reported a total of 28,534 shareholders at the end of the reporting period[26]. - The top shareholder, Li Weiguo, holds 151,168,373 shares, accounting for 22.43% of the total[26]. - The total owner's equity (shareholder's equity) was CNY 3,050,092,589.02[82]. Cash Flow - Net cash flow from operating activities amounted to CNY 353,367,359.13, a significant increase of 142.46% year-on-year[21]. - Cash inflows from operating activities totaled CNY 3.79 billion, up from CNY 2.64 billion year-over-year, representing a growth of approximately 43.3%[69]. - The ending balance of cash and cash equivalents was CNY 997.91 million, compared to CNY 554.39 million at the end of the same period last year, marking an increase of approximately 80.0%[71]. - The net cash flow from investing activities was -$525.73 million, compared to -$842.02 million in the previous period[73]. Research and Development - R&D expenses increased by 55.92% to ¥10,016.52, reflecting increased investment in research and development[37]. - Research and development expenses for Q3 2019 were ¥37,330,336.19, significantly higher than ¥21,394,734.43 in Q3 2018[57]. - Research and development expenses for Q3 2019 were approximately ¥29.93 million, a significant increase of 130.5% compared to ¥12.96 million in Q3 2018[62]. Government Support - The company received government subsidies amounting to CNY 15,802,179.59 during the first nine months[24]. - Other income surged by 327.72% to ¥2,238.43, mainly due to government subsidies and tax refunds received during the reporting period[37]. Future Plans - The company plans to continue expanding its market presence and investing in new technologies and products[56]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[64].