Financial Performance - The company's operating revenue for Q1 2022 was ¥155,297,959.67, representing a decrease of 11.25% compared to the same period last year[5] - Net profit attributable to shareholders was ¥13,474,867.20, an increase of 39.57% year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥12,251,187.51, showing a significant increase of 148.77% compared to the previous year[5] - Basic earnings per share for the period was ¥0.06, up by 50.00% from the previous year[6] - The net profit for Q1 2022 was CNY 13,474,867.20, representing a 39.0% increase compared to CNY 9,654,382.67 in Q1 2021[22] - Operating profit for Q1 2022 reached CNY 15,262,377.32, up from CNY 11,341,717.23 in the same period last year, indicating a growth of 34.0%[21] - The total comprehensive income for Q1 2022 was CNY 13,474,867.20, compared to CNY 9,654,382.67 in the previous year, reflecting a growth of 39.0%[22] - Net profit for Q1 2022 was ¥13,548,294.94, representing a significant increase of 149.5% from ¥5,423,494.37 in Q1 2021[33] Cash Flow - The net cash flow from operating activities was -¥116,821,218.29, a decrease of 437.84% year-on-year, indicating a substantial cash outflow[5] - Cash flow from operating activities showed a net outflow of CNY -116,821,218.29, a significant decline from a net inflow of CNY 34,579,009.88 in Q1 2021[25] - Total cash inflow from operating activities was $112.95 million, down 55.6% from $254.12 million in the same quarter last year[35] - Cash outflow from operating activities increased to $229.58 million, compared to $213.55 million in Q1 2021, reflecting higher operational costs[35] - The cash flow from investing activities showed a net outflow of -$5.36 million, an improvement from -$52.00 million in the previous year, indicating better investment management[35] - Cash inflow from investing activities was $200.73 million, significantly higher than $100.18 million in Q1 2021, driven by investment recoveries[35] - The total cash and cash equivalents decreased by $121.99 million during the quarter, compared to a decrease of $47.83 million in Q1 2021[35] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,355,821,053.89, down 4.66% from the end of the previous year[6] - Cash and cash equivalents as of March 31, 2022, were RMB 779,162,748.65, down from RMB 901,355,897.31 at the end of 2021[15] - Total assets as of March 31, 2022, were RMB 1,355,821,053.89, down from RMB 1,422,126,642.85 at the end of 2021[18] - Total liabilities decreased to RMB 525,840,763.31 from RMB 605,621,219.47 year-over-year[17] - The total equity increased from ¥813,954,846.09 at the end of 2021 to ¥827,503,141.03 as of March 31, 2022, reflecting retained earnings growth[29] - The company's cash and cash equivalents were ¥741,128,199.49 as of March 31, 2022, down from ¥863,118,560.14 at the end of 2021[27] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 21,921[11] - The largest shareholder, Ningbo Shuntong Group Co., Ltd., held 40,279,836 shares, accounting for 16.53% of the total shares[12] Research and Development - Research and development expenses for Q1 2022 were RMB 4,252,091.64, slightly up from RMB 4,212,706.94 in Q1 2021[20] - Research and development expenses for Q1 2022 were ¥4,252,091.64, slightly higher than ¥4,212,706.94 in Q1 2021, indicating continued investment in innovation[32] Financial Management - The company received government subsidies amounting to ¥707,335.53, which are closely related to its normal business operations[7] - The company reported a significant increase in interest income to CNY 5,275,167.11 from CNY 4,218,292.15 in the same quarter last year[21] - The company incurred financial expenses of CNY -5,205,455.38, compared to CNY -4,180,828.89 in Q1 2021[21] - The company reported a financial income of ¥5,139,040.45 in Q1 2022, compared to ¥4,214,538.83 in Q1 2021, indicating improved financial management[32] Operational Efficiency - Total operating costs for Q1 2022 were RMB 140,687,835.81, down 17.7% from RMB 170,995,804.18 in Q1 2021[20] - Operating costs included RMB 135,402,034.60 in cost of goods sold, which decreased from RMB 164,879,304.18 in the previous year[20] - The gross profit margin improved, with operating costs decreasing from ¥163,879,304.18 in Q1 2021 to ¥135,211,383.72 in Q1 2022, reflecting a cost reduction strategy[32] Market Activity - The company has not disclosed any new product developments or market expansion strategies in this report[35] - There were no significant mergers or acquisitions mentioned in the earnings call for this quarter[35]

Dividend Distribution and Share Repurchase - The company plans to distribute a cash dividend of 1.2 RMB per 10 shares, totaling approximately 28.64 million RMB, which represents 86.80% of the net profit attributable to shareholders for the year[7]. - The total amount spent on share repurchase during the year was approximately 36.36 million RMB, which is considered as part of the cash dividend distribution[7]. - The company has a policy to distribute at least 20% of the distributable profits as cash dividends when profits are positive and cumulative distributable profits are also positive[152]. - The company has maintained a cash dividend policy, distributing at least 20% of the annual distributable profit as cash dividends[150]. - The company plans to distribute a cash dividend of 1.2 yuan (including tax) for every 10 shares, totaling approximately 28,642,305.24 yuan (including tax) based on a total share count of 238,685,877 shares after accounting for repurchased shares[156]. - In 2021, the total cash dividend amounted to 65,002,130.96 yuan, representing 86.80% of the net profit attributable to shareholders in the consolidated financial statements[156]. - The independent directors are responsible for reviewing and providing opinions on the proposed profit distribution plans before they are submitted to the shareholders' meeting[153]. - The company has not made any adjustments to its profit distribution policy during the reporting period, ensuring stability and transparency in its dividend policy[157]. - The company aims to enhance shareholder returns by ensuring that the profit distribution policy aligns with investor expectations and operational needs[157]. - The company has implemented a share repurchase program amounting to 36,359,825.72 yuan, which is considered part of the cash dividend for the year[156]. Financial Performance - The company's operating revenue for 2021 was ¥1,100,056,235.41, representing a year-on-year increase of 0.35% compared to ¥1,096,207,910.35 in 2020[25]. - Net profit attributable to shareholders was ¥74,889,693.87, reflecting a 15.00% increase from ¥65,124,147.05 in 2020[25]. - The basic earnings per share for 2021 was ¥0.31, up 14.81% from ¥0.27 in 2020[26]. - The weighted average return on equity increased to 9.25%, up from 8.25% in 2020, marking an increase of 1.00 percentage points[26]. - The cash flow from operating activities was ¥195,079,278.29, a significant recovery from a negative cash flow of -¥135,675,481.34 in 2020[25]. - Total assets at the end of 2021 reached ¥1,422,126,642.85, an increase of 2.69% from ¥1,384,887,186.43 at the end of 2020[25]. - The company achieved an annual revenue of ¥1,100,056,235.41, representing a year-on-year growth of 0.35%, and a net profit attributable to shareholders of ¥74,889,693.87, which is a 15% increase year-on-year[39]. - The company reported a net profit margin of 12%, up from 10% in the previous year[124]. - Total assets increased by 18% year-over-year, reaching 3 billion RMB[125]. Operational Highlights - The company ranked 9th among the top performers in terms of per-acre efficiency in the technology service industry in Zhejiang Province for 2021[37]. - The company was recognized as one of the top 100 competitive enterprises in Ningbo, ranking 35th in 2021[37]. - The company achieved a net profit of ¥24,790,355.09 in the fourth quarter of 2021, contributing to a total annual net profit growth[29]. - The engineering general contracting revenue reached ¥972,557,900, reflecting a growth of 0.19% compared to the previous year, while the engineering design revenue was ¥108,047,600, marking a 3.45% increase[39]. - The company successfully completed the installation and construction work for the EPC project of the Guangdong Petrochemical 20 million tons/year heavy oil processing project, with the project nearing completion[40]. - The company signed design service framework agreements with key clients including Sinopec and Zhejiang Petrochemical, and secured significant projects such as the Tianjin South Port 120,000 tons/year ethylene project[44]. - A total of 14 R&D projects were completed in 2021, along with 28 business construction projects and 14 software development projects, enhancing the company's technological capabilities[45]. - The company maintained a zero-accident safety record in ongoing projects, highlighting its commitment to quality and safety in operations[47]. Research and Development - The company received 1 invention patent and 4 utility model patents during the reporting period, indicating a focus on innovation and intellectual property[45]. - Research and development expenses increased by 2.55% to ¥35,275,115.99 compared to the previous year[68]. - The company has developed the LS-ZHSR technology, achieving a sulfur recovery rate of 99.98% and SO2 emission concentration of less than 10 mg/Nm³[61]. - The company is focused on technological innovation in areas such as low-carbon and digital solutions, contributing to its competitive edge in the petrochemical sector[63]. - The company is increasing R&D investment in technologies such as intelligent storage solutions and digital factory construction to enhance competitiveness[105]. Market and Economic Environment - The international oil price increased by approximately 53% throughout 2021, impacting the investment landscape in the petrochemical sector[49]. - In 2021, China's crude oil refining capacity increased by 378 million tons, a growth of 66% from 2010 to 2021, with an average annual growth rate of 4.69%[50]. - The global refinery capacity utilization rate reached 78% in 2021, expected to peak at 80% in 2022 and 2023, but projected to decline to 77% by 2025 due to slower demand growth[51]. - The company is positioned to benefit from the implementation of environmental protection policies and the shift towards low-carbon development in the petrochemical industry[54]. - The company recognizes the challenges posed by the global economic situation, including rising oil prices and the need for structural reforms in the petrochemical engineering sector[92]. Corporate Governance - The company adheres to strict governance practices, ensuring compliance with relevant laws and regulations while maintaining operational independence from its controlling shareholder[110]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with regulations and protecting shareholder rights[111]. - The supervisory board has 3 members, with 2 shareholder supervisors and 1 employee supervisor, actively overseeing financial reports and management performance[112]. - The company has implemented strict insider information management to prevent insider trading and enhance transparency in information disclosure[112]. - The company is committed to improving its corporate governance structure and internal control mechanisms for sustainable development[112]. - The company has engaged external legal counsel to ensure the legality of its shareholder meetings and decisions[116]. - The company has taken measures to ensure the independence of its operations and assets from controlling shareholders[112]. - The company is focused on maintaining the rights and interests of all shareholders, particularly minority shareholders[111]. Risk Management - The company has not identified any significant risks that could adversely affect its future development strategy or ongoing operations[11]. - The company has not faced any violations of decision-making procedures regarding external guarantees[10]. - The company faces policy risks due to its reliance on the petrochemical industry and will actively monitor national policies to adapt its investment strategies accordingly[102]. - The company acknowledges the potential for significant fluctuations in operating performance due to the long-term nature and complexity of its engineering contracting business[102]. - The company faces risks from high customer concentration, primarily serving major state-owned enterprises like Sinopec and PetroChina, which could impact performance if economic conditions worsen[106]. Employee and Social Responsibility - The company has implemented measures to ensure employee welfare, including competitive salaries and timely social security contributions[173]. - The company has actively participated in public welfare activities, including disaster relief, blood donation, and educational support, benefiting society[176]. - The company emphasizes internal and external training, having trained over 1,100 personnel through various methods[148]. - The company has a structured approach to employee compensation, linking departmental compensation to output and performance metrics[147]. Future Outlook - The company provided a future outlook with a revenue guidance of 1.5 billion RMB for the next quarter, representing a 25% increase compared to the current quarter[126]. - New product launches are expected to contribute an additional 300 million RMB in revenue over the next fiscal year[125]. - The company is considering strategic acquisitions to enhance its service offerings, with a budget of 200 million RMB allocated for potential deals[125]. - The company plans to expand into new business areas while maintaining its focus on existing projects, emphasizing customer service and project management efficiency[94]. - The company aims to enhance its core competitiveness and create differentiated advantages by leveraging its location in Ningbo, a major petrochemical base, to explore new market opportunities[97].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 201,559,119.20, a decrease of 25.46% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2021 was CNY 15,730,307.55, down 11.09% year-on-year[5]. - The net profit after deducting non-recurring gains and losses was CNY 15,226,548.22, a decrease of 13.94% compared to the previous year[5]. - The net profit for Q3 2021 was CNY 50,099,338.78, an increase of 26.5% compared to CNY 39,713,184.92 in Q3 2020[20]. - The total profit for Q3 2021 reached CNY 57,369,770.58, up from CNY 44,789,470.56 in the same period last year, reflecting a growth of 28.1%[20]. - Operating profit for Q3 2021 was CNY 57,328,837.33, compared to CNY 46,025,106.48 in Q3 2020, marking an increase of 24.5%[20]. - Total operating revenue for the first three quarters of 2021 reached ¥664,943,307.30, an increase of 8.5% compared to ¥613,181,724.87 in the same period of 2020[18]. - The net profit attributable to shareholders for the first three quarters of 2021 was not explicitly stated but can be inferred from the increase in retained earnings to ¥288,233,277.32 from ¥273,940,369.09, an increase of 5.0%[16]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,389,752,073.32, reflecting a slight increase of 0.35% from the end of the previous year[6]. - The total assets as of September 30, 2021, were ¥1,389,752,073.32, slightly up from ¥1,384,887,186.43 at the end of 2020[17]. - Total liabilities increased to ¥598,048,159.03 from ¥574,999,633.94, reflecting a rise of 4.0%[16]. Cash Flow - Cash flow from operating activities for the year-to-date was CNY 191,756,461.72, down 233.61% compared to the previous year[5]. - Cash flow from operating activities for the first nine months of 2021 was CNY 191,756,461.72, a significant recovery from a negative cash flow of CNY -143,524,024.31 in the same period of 2020[24]. - The company reported a total cash inflow from operating activities of CNY 922,855,613.49 for the first nine months of 2021, compared to CNY 507,483,589.51 in the same period of 2020, an increase of 81.6%[24]. - The net cash flow from investing activities for the first nine months of 2021 was CNY 115,960,005.71, a recovery from a negative cash flow of CNY -47,098,457.92 in the same period of 2020[24]. - The company experienced a net cash outflow from financing activities of CNY -72,323,507.90 in Q3 2021, compared to a net outflow of CNY -35,267,940.22 in Q3 2020[25]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 10,049[12]. - The largest shareholder, Ningbo Shuntong Group Co., Ltd., held 27,990,505 shares, accounting for 11.49% of total shares[12]. Inventory and Receivables - The company's inventory increased by 591.20% due to the rise in materials for ongoing projects[9]. - The company's cash and cash equivalents increased by 38.35% mainly due to timely receipt of project progress payments[9]. - Accounts receivable decreased to ¥132,880,927.04 from ¥157,170,308.72, indicating a reduction of 15.5%[15]. - Inventory increased significantly to ¥13,693,230.97 from ¥1,981,077.62, marking a growth of 590.5%[15]. Research and Development - Research and development expenses for the first three quarters were ¥15,638,221.78, compared to ¥13,365,356.59 in the same period of 2020, indicating an increase of 17.0%[18]. Earnings Per Share - The basic and diluted earnings per share for Q3 2021 were both CNY 0.21, compared to CNY 0.16 in Q3 2020, reflecting a growth of 31.3%[20]. Financial Income - The company reported a financial income of ¥14,213,524.79, a decrease from ¥21,387,209.87 in the previous year, reflecting a decline of 33.5%[18].

Financial Performance - The company's operating revenue for the first half of 2021 was RMB 463,384,188.10, representing a 35.19% increase compared to RMB 342,761,930.95 in the same period last year[18]. - The net profit attributable to shareholders of the listed company reached RMB 34,369,031.23, a 56.08% increase from RMB 22,020,724.60 in the previous year[18]. - The basic earnings per share for the first half of 2021 was RMB 0.14, up 7.69% from RMB 0.13 in the same period last year[19]. - The weighted average return on net assets increased to 4.28%, up by 1.46 percentage points from 2.82% in the previous year[19]. - The total assets of the company at the end of the reporting period were RMB 1,399,367,893.60, a 1.05% increase from RMB 1,384,887,186.43 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company decreased by 4.63% to RMB 772,401,510.42 from RMB 809,887,552.49 at the end of the previous year[18]. - The company reported a non-recurring profit of 10,622,088.45, with a significant portion attributed to non-operating income and expenses[23]. - The company reported a non-recurring loss of -1,801,308.95 due to tax impacts, affecting overall profitability[23]. Cash Flow and Investments - The net cash flow from operating activities was RMB 135,778,885.75, a significant improvement from a negative cash flow of RMB -139,199,258.87 in the same period last year, marking a 197.54% change[18]. - The net cash flow from investment activities decreased by 62.48% to RMB 86,093,192.58, attributed to reduced purchases of structured deposits[42]. - The net cash flow from financing activities was -72,205,444.50 RMB, compared to -35,223,125.64 RMB in the previous period, reflecting a worsening of approximately 104.5%[124]. - The company reported a beginning cash balance of 601,512,677.20 RMB, which contributed to the overall increase in cash and cash equivalents[124]. Business Operations and Strategy - The company specializes in professional technical services for the petrochemical industry, providing a comprehensive range of services from planning and consulting to construction management and operational services[25]. - Engineering general contracting business constitutes a high proportion of the company's revenue, with a focus on quality, safety, schedule, and cost management[25]. - The company holds Class A engineering design qualifications in the chemical, petrochemical, and oil and gas sectors, indicating strong technical capabilities[26]. - The company’s business model primarily relies on bidding for projects, integrating various departments to execute services efficiently[27]. - The company has a strong market position in the petrochemical sector, with its business positively correlated to industry development and investment[28]. - The company is focused on innovation in environmental protection and energy efficiency within the petrochemical sector[25]. - The company is actively developing a digital factory construction project to improve operational safety and efficiency for major petrochemical groups[40]. Market and Industry Trends - The petrochemical industry experienced significant revenue and profit growth, driven by strong market consumption of natural gas and refined oil products[31]. - The global petrochemical fuel market is slowly recovering, primarily driven by economic rebounds in China, the US, and Europe[30]. - The company is positioned to benefit from the ongoing structural reforms and green development initiatives in the petrochemical sector[31]. - In the first half of 2021, Brent crude oil prices showed an upward trend, with average prices ranging from $54.73 to $73.41 per barrel[30]. Research and Development - Research and development expenses rose by 3.87% to ¥10,034,277.40, indicating stable investment in innovation[42]. - The company has filed 9 patents during the reporting period, focusing on enhancing core competitiveness through technological innovation[40]. - The company has successfully applied multiple technological innovations, including ammonia-based flue gas desulfurization and sulfur recovery technology, enhancing the application range of ZHSR technology[35]. - The company has developed advanced technologies, achieving a sulfur recovery rate of 99.98% and SO2 emissions concentration below 100 mg/Nm³[32]. Shareholder and Equity Information - The company repurchased 4,992,496 shares of its circulating stock during the first half of 2021 as part of its share repurchase plan approved on December 28, 2020[20]. - The company has not proposed any profit distribution or capital reserve increase for the half-year period, indicating a focus on reinvestment[71]. - The total equity attributable to shareholders decreased to CNY 772,401,510.42 from CNY 809,887,552.49, indicating a decline of about 4.6%[105]. - The company’s limited sale shares decreased from 130,575,674 shares to 904,020 shares after the first public offering on February 10, 2020, and further reduced to 848,900 shares after the repurchase of restricted stocks[89]. Risk Management - The company did not identify any significant risks that could adversely affect its future development strategy or ongoing operations during the reporting period[5]. - The company faces risks related to significant fluctuations in operating performance due to the long project cycles and high contract values in its engineering contracting business[59]. - The procurement costs for equipment and materials account for approximately 60% of total project costs, making price fluctuations a significant risk[60]. - The ongoing COVID-19 pandemic presents uncertainties, prompting the company to innovate across six key areas to enhance operational efficiency and value[65]. Corporate Governance and Compliance - The company has experienced a management change with the resignation of the deputy general manager, Yu Peidi, due to personal reasons[70]. - The company adheres to the accounting standards and its financial statements reflect a true and complete view of its financial position and operating results[141]. - 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[139].

Financial Performance - The company's operating revenue for 2020 was RMB 1,096,207,910.35, representing a 6.12% increase compared to RMB 1,033,013,799.97 in 2019[21]. - The net profit attributable to shareholders of the listed company was RMB 65,124,147.05, an increase of 13.26% from RMB 57,502,068.91 in the previous year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 51,986,108.38, showing a slight decrease of 0.37% compared to RMB 52,177,051.34 in 2019[21]. - The net cash flow from operating activities was negative at RMB -135,675,481.34, a significant decline of 131.18% from RMB 435,192,262.98 in 2019[21]. - The total assets at the end of 2020 were RMB 1,384,887,186.43, reflecting a 3.46% increase from RMB 1,338,509,416.28 at the end of 2019[21]. - The net assets attributable to shareholders of the listed company were RMB 809,887,552.49, which is a 4.40% increase from RMB 775,755,085.47 in 2019[21]. - Basic earnings per share increased by 12.50% to CNY 0.27 from CNY 0.24 in the previous year[22]. - The weighted average return on equity rose to 8.25%, an increase of 0.70 percentage points from 7.55% in the previous year[22]. - The main business revenue was ¥1,094,078,028.77, with a cost of ¥982,532,787.49, resulting in a gross margin of 10.20%, which decreased by 0.28 percentage points compared to the previous year[58]. Dividend Policy - The company proposed a cash dividend of RMB 1.50 per 10 shares, totaling RMB 35,806,430.55, which accounts for 54.98% of the net profit attributable to shareholders for the year[5]. - The cash dividend payout ratio for 2019 was 60.52%, while the ratio for 2020 was 54.98%[129]. - The company has a cash dividend policy that mandates a minimum of 20% of the distributable profits to be distributed as cash dividends annually, ensuring stable returns for investors[120]. - The company plans to maintain a continuous and stable profit distribution policy, with cash dividends constituting at least 80% of profits during mature phases without major capital expenditures[121]. - The company has outlined a three-year shareholder return plan (2020-2022) that prioritizes cash dividends, with a commitment to distribute at least 30% of the average annual distributable profits over three years[123]. Investment and Capital Structure - The company plans to increase its total share capital by 69,629,152 shares through a capital reserve transfer, resulting in a total share capital of 243,702,033 shares[24]. - The company’s capital reserve was converted to share capital, resulting in a 39.96% increase in share capital to 243,702,033.00[69]. - The company completed the repurchase and cancellation of part of the restricted stock, reducing the number of restricted shares from 904,020 to 848,900[172]. - The total number of unrestricted circulating shares increased from 43,552,327 to 243,028,269, marking an increase of about 456.56%[174]. - The company’s stock incentive plan led to a reduction in restricted shares from 1,188,460 to 673,764 after the second unlocking period[174]. Market and Industry Position - The company focuses on providing comprehensive engineering services in the petrochemical industry, including EPC services[31]. - The petrochemical industry is a crucial pillar of the national economy, with significant impacts from macroeconomic development and international oil price fluctuations[35]. - The company is positioned in the second tier of domestic petrochemical engineering companies, focusing on serving large petrochemical enterprises and leveraging its technical expertise[82]. - The demand for high-end petrochemical products in China is expected to grow faster than traditional industries, driven by national strategies and supply-side structural reforms[82]. - The company is actively seeking to expand its market presence, particularly in the petrochemical sector, to enhance its competitive edge against both domestic and international rivals[109]. Research and Development - The company has a strong focus on R&D, with significant advancements in low-sulfur fuel oil production processes and high-efficiency energy-saving designs[42]. - The company is committed to a talent-driven strategy, emphasizing flexible recruitment policies and performance-based compensation to attract and retain skilled employees[96]. - The company is focused on advancing its technological capabilities, particularly in sulfur recovery and clean production technologies, to maintain a competitive edge[93]. - The company intends to deepen collaborations with research institutions and universities to develop key technologies in the petrochemical industry[93]. - The company is investing in research and development, allocating resources to innovate and improve existing product lines[181]. Risk Management and Compliance - The report includes a risk statement regarding forward-looking statements, indicating potential risks in future development strategies[6]. - The company plans to strengthen its risk management framework to prevent and mitigate potential risks in economic activities[91]. - The company has implemented a robust internal control management system to protect shareholder rights and ensure compliance with legal requirements[163]. - The company has not reported any strategic investors or general corporations becoming top ten shareholders through new share placements[190]. - The company has committed to not transferring or repurchasing shares held by directors and senior management for 36 months post-IPO[134]. Corporate Governance - The company emphasizes transparency in its high dividend policy to align with investor expectations and operational needs[127]. - The board must provide reasons if cash dividends are not proposed despite positive profits available for distribution[130]. - The independent directors have expressed their agreement with the profit distribution plan for 2019, ensuring oversight and compliance with company policies[126]. - The company has established a commitment to ensure that any share reductions after the lock-up period will not exceed 25% of their holdings[133]. - The company has maintained a long-term relationship with the accounting firm for 8 years[136]. Social Responsibility - The company donated ¥1,000,000 to support COVID-19 prevention efforts and contributed ¥300,000 for poverty alleviation projects[54]. - The company has actively participated in public welfare activities, including a donation of 300,000 yuan for the restoration of a solar power station in Anhui Province[164]. - The company has adhered to environmental regulations and does not fall under the category of key pollutant discharge units as per the local environmental authority[166]. - The company has established a comprehensive employee training system to enhance skill development and ensure quality training outcomes[163]. - The company has maintained zero quality and safety incidents in ongoing projects, reflecting improved employee safety awareness[163].

Financial Performance - Operating revenue for the reporting period reached CNY 174,979,482.76, representing a significant increase of 90.08% year-on-year[5]. - Net profit attributable to shareholders of the listed company was CNY 9,654,382.67, up 135.14% compared to the same period last year[5]. - Basic and diluted earnings per share both increased to CNY 0.04, a 100% increase from CNY 0.02 in the same period last year[5]. - The company's operating revenue for Q1 2021 reached CNY 174,979,482.76, representing a 90.08% increase compared to CNY 92,055,404.25 in Q1 2020, primarily due to significant growth in engineering contracting business[13]. - The net profit for Q1 2021 reached CNY 9,654,382.67, compared to CNY 4,105,851.56 in Q1 2020, indicating a growth of about 135%[25]. - The total profit for Q1 2021 was CNY 11,352,237.23, compared to CNY 4,757,303.89 in Q1 2020, showing an increase of approximately 138%[24]. Cash Flow - Net cash flow from operating activities was CNY 34,579,009.88, a turnaround from a negative cash flow of CNY -37,312,213.13 in the previous year, marking an increase of 192.67%[5]. - The company's cash inflow from operating activities in Q1 2021 was CNY 254,131,171.45, an increase of 20.7% compared to CNY 210,576,776.60 in Q1 2020[29]. - The net cash flow from operating activities was CNY 34,579,009.88, a significant improvement from a negative CNY 37,312,213.13 in the same period last year[29]. - The company experienced a net decrease in cash and cash equivalents of CNY 17,440,401.56 during the quarter, an improvement from a decrease of CNY 74,704,636.09 in Q1 2020[30]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,355,767,999.48, a decrease of 2.10% compared to the end of the previous year[5]. - The total assets as of March 31, 2021, were CNY 1,339,469,091.49, down from CNY 1,370,331,593.32 at the end of 2020[22]. - Total liabilities as of March 31, 2021, were CNY 559,720,330.59, slightly decreased from CNY 560,000,946.94 at the end of 2020[22]. - The company's equity attributable to shareholders was CNY 779,748,760.90 as of March 31, 2021, down from CNY 810,330,646.38 at the end of 2020[23]. Shareholder Information - The total number of shareholders at the end of the reporting period was 8,640[10]. - The largest shareholder, Ningbo Shuntong Group Co., Ltd., held 27,990,505 shares, accounting for 11.49% of the total shares[10]. - The company repurchased 4,992,496 shares as part of its share buyback plan, with a total expenditure of CNY 60 million, aiming to enhance shareholder value[15]. Research and Development - Research and development expenses increased by 55.41% to CNY 4,212,706.94 from CNY 2,710,720.29, indicating a focus on innovation and technology development[13]. - Research and development expenses for Q1 2021 amounted to CNY 4,212,706.94, compared to CNY 2,710,720.29 in Q1 2020, representing a 55.2% increase[23]. Investment Activities - Investment income surged to CNY 6,146,488.78, a staggering increase of 614,548.88% compared to CNY 1,000.00, due to the sale of equity in a subsidiary[14]. - The company plans to transfer its equity in two subsidiaries for a total of CNY 36.38 million, indicating a strategic move to optimize its investment portfolio[15]. - The company's long-term equity investments decreased to CNY 0 from CNY 28,916,377.51, reflecting the sale of a subsidiary's equity[19]. Inventory and Operating Costs - Inventory levels rose significantly by 169.69% to CNY 5,342,768.50 from CNY 1,981,077.62, primarily due to increased materials for contracting projects[13]. - The gross profit margin increased as operating costs rose to CNY 164,879,304.18, an 85.16% increase from CNY 89,048,191.05 in the previous year, reflecting the corresponding rise in revenue[13]. - Total operating costs for Q1 2021 were CNY 170,995,804.18, up from CNY 89,861,917.07 in Q1 2020, reflecting an increase of 90.5%[23].

Financial Performance - Net profit attributable to shareholders increased by 4.01% to CNY 39,713,184.92 for the year-to-date period[6] - Operating revenue for the year-to-date period was CNY 613,181,724.87, reflecting a 0.93% increase year-on-year[6] - The company reported a net profit of CNY 34,624,535.28 after deducting non-recurring gains and losses, a slight increase of 0.09% year-on-year[6] - Basic earnings per share decreased by 27.27% to CNY 0.16[7] - The company reported a decrease in inventory from CNY 130,515,719.24 in Q3 2019 to CNY 21,010,950.56 in Q3 2020, a reduction of 83.9%[23] - Net profit for the first three quarters of 2020 was CNY 38,128,276.12, compared to CNY 36,783,733.97 in the same period of 2019, reflecting a growth of 3.7%[28] - Net profit for Q3 2020 was ¥17,269,194.31, down 25.4% from ¥23,101,877.28 in Q3 2019[34] - Total profit for Q3 2020 was ¥19,572,216.49, a decrease of 25.3% compared to ¥26,194,115.76 in Q3 2019[34] Cash Flow - Net cash flow from operating activities decreased by 162.95% to -CNY 143,524,024.31 compared to the same period last year[6] - Cash flow from operating activities showed a net outflow of RMB -143,524,024.31, a decline of 162.95% compared to the previous year[15] - Total cash inflow from operating activities decreased to 507,483,589.51 RMB, down 35% from 782,918,109.65 RMB in the previous year[36] - Cash outflow from operating activities increased to 651,007,613.82 RMB, up 17% from 554,921,853.32 RMB in 2019[36] - Investment activities generated a net cash outflow of -47,098,457.92 RMB, an improvement from -235,548,705.38 RMB in the same period last year[37] - Financing activities resulted in a net cash outflow of -35,267,940.22 RMB, compared to -39,474,938.09 RMB in the previous year, indicating a slight improvement[37] Assets and Liabilities - Total assets increased by 3.32% to CNY 1,382,934,796.62 compared to the end of the previous year[6] - The company's total assets reached RMB 1,382,934,796.62, an increase from RMB 1,338,509,416.28 at the end of the previous year[19] - Total liabilities as of September 30, 2020, were CNY 581,251,069.88, compared to CNY 545,928,896.38 at the end of 2019, an increase of 6.5%[24] - The company’s total liabilities and equity combined were ¥1,338,509,416.28, indicating a balanced financial structure[44] Shareholder Information - The total number of shareholders reached 8,516 as of the report date[11] - The largest shareholder, Ningbo Shuntong Group, holds 11.49% of shares, totaling 27,990,505 shares[11] Equity and Reserves - The company's equity increased by 39.96% to RMB 243,702,033.00 due to capital reserves being converted into share capital[15] - The company’s total equity as of September 30, 2020, was CNY 782,538,941.73, an increase from CNY 773,431,748.82 at the end of 2019, reflecting a growth of 1.4%[24] Revenue Recognition and Adjustments - The company implemented new revenue recognition standards from January 1, 2020, affecting financial reporting[44] - Inventory decreased by 84.22% to RMB 21,010,950.56, as adjustments were made under the new revenue recognition standards[14] - Contract assets amounted to RMB 217,628,754.11, reflecting adjustments under the new revenue recognition standards[14] - The company’s contract liabilities were recorded at RMB 154,661,978.97, reflecting adjustments under the new revenue recognition standards[14] Government Support - The company received government subsidies amounting to CNY 7,091,644.59 during the year-to-date period[8] Research and Development - Research and development expenses for Q3 2020 were CNY 3,705,115.06, down 34.4% from CNY 5,649,627.42 in Q3 2019[28]

Financial Performance - The company achieved operating revenue of CNY 342,761,930.95 in the first half of 2020, representing a 26.28% increase compared to the same period last year[23]. - Net profit attributable to shareholders was CNY 22,020,724.60, up 31.43% year-on-year[23]. - Basic earnings per share increased by 30.00% to CNY 0.13[24]. - The weighted average return on net assets rose to 2.82%, an increase of 0.63 percentage points year-on-year[24]. - The company reported a non-recurring gain of RMB 5,088,502.29, primarily from government subsidies and other non-operating income[29]. - The company reported a total revenue of 1,098,234 million for the first half of 2020, with no changes in shareholding structure[102]. - The net profit for the first half of 2020 reached RMB 22.55 million, representing a 47.8% increase from RMB 15.28 million in the first half of 2019[135]. - The total profit for the first half of 2020 was RMB 25.32 million, up 48.8% from RMB 17.04 million in the same period of 2019[135]. Cash Flow and Liquidity - The net cash flow from operating activities was -CNY 139,199,258.87, a decrease of 226.76% compared to the previous year, primarily due to higher prepayments and progress payments for projects[25]. - The net cash flow from investment activities improved significantly to ¥229.47 million, a 376.57% increase from a negative cash flow of ¥82.97 million in the same period last year[50]. - Cash and cash equivalents at the end of the period reached ¥740,431,326.60, accounting for 58.35% of total assets, an increase of 32.13% compared to the same period last year[53]. - The net cash flow from operating activities was -139,113,075.86 RMB, compared to 111,433,034.93 RMB in the previous period, indicating a significant decline in operational performance[141]. - The total cash inflow from investment activities reached 587,109,323.41 RMB, up from 350,100,315.00 RMB, reflecting increased investment recovery[141]. - The net cash flow from investment activities was 229,467,491.44 RMB, a turnaround from -83,070,518.85 RMB in the previous period, showing improved investment performance[141]. Assets and Liabilities - The company's total assets decreased by 5.20% to CNY 1,268,906,757.46 compared to the end of the previous year[23]. - The net assets attributable to shareholders were CNY 763,363,411.25, down 1.60% from the end of the previous year[23]. - Total current assets decreased to ¥1,135,473,482.66 as of June 30, 2020, down from ¥1,203,725,900.18 as of December 31, 2019, representing a decline of approximately 5.67%[122]. - Total liabilities decreased to ¥505,543,346.21 from ¥562,754,330.81, reflecting a decline of about 10.14%[124]. - The total equity attributable to the parent company at the end of the reporting period was CNY 763,363,411.25, compared to CNY 754,976,183.69 at the end of the previous period, reflecting an increase of approximately 1.5%[149]. Operational Highlights - The company is involved in several major projects, including the Guangdong Petrochemical integrated project and the Fujian Zhangzhou Gulei refining project, which contributed to revenue recognition[25]. - The company specializes in providing comprehensive engineering services, including project planning, design, procurement, construction management, and operational services, particularly in the petrochemical industry[31]. - The company holds a first-class engineering design qualification in the chemical, petrochemical, and pharmaceutical industries, as well as in oil and gas[32]. - The company has successfully completed various projects in the Yangtze River Delta, including sulfur recovery and hydrogenation, demonstrating its strong regional presence[43]. - The company successfully secured several key projects, including a 80,000 tons/year sulfur recovery unit for Sinopec Beihai Refining and a 200,000 tons/year solvent oil hydrogenation unit for Henghe Materials Technology[46]. Market and Strategic Initiatives - The company actively explores new investment opportunities to expand its market reach, particularly in the construction of new chemical facilities[33]. - The company is focusing on technological innovation, including the development of low-energy consumption processes and digital factory construction, to enhance operational efficiency and sustainability[47]. - The company aims to leverage the strategic shift towards a domestic circulation economy to optimize its petrochemical industry structure and product offerings[48]. - The company is adapting to market changes by shifting from homogeneous to differentiated business capabilities, aiming to provide integrated solutions across the project lifecycle[65]. - The company is actively pursuing international market expansion while facing intensified competition in the petrochemical industry[64]. Risk Management - There were no significant risks identified that could adversely affect the company's future development strategy or ongoing operations[9]. - The company faces significant risks in its engineering contracting business due to large contract amounts and long project cycles, with procurement costs accounting for approximately 60% of total project costs[66]. - The company has implemented measures to mitigate risks related to price fluctuations of raw materials and equipment by locking in prices and optimizing procurement processes[66]. - The company acknowledges the risks posed by global pandemic uncertainties and fluctuating oil prices, and is committed to enhancing management and operational efficiency[72]. Shareholder and Governance - The company has a stable customer base primarily consisting of major state-owned enterprises such as Sinopec, PetroChina, and CNOOC, which ensures a stable profit level despite potential risks from economic fluctuations[68]. - The company has appointed Tianjian Accounting Firm as the financial audit and internal control audit institution for the year 2020[83]. - The integrity status of the company and its controlling shareholders was good, with no unfulfilled court judgments or significant debts due[83]. - The company experienced a change in control with the new controlling shareholder being the Yuyao City State-owned Assets Management Office as of April 16, 2020[110]. - The board of directors saw significant changes, with three directors resigning and three new directors elected during the annual shareholders' meeting on May 7, 2020[115]. Research and Development - Research and development expenses rose by 34.10% to ¥9.66 million, attributed to an increase in R&D personnel[50]. - The company is committed to research and development, allocating resources to innovate and improve product lines[102]. - The company is focusing on low-energy consumption technologies and efficient energy-saving processes in petrochemical heating and sulfur waste gas treatment[68]. Environmental Compliance - The company does not belong to the list of key pollutant discharge units published by the Ningbo Ecological Environment Bureau, indicating compliance with environmental regulations[92]. - The company has adhered to national environmental laws and regulations, obtaining necessary discharge permits and meeting emission standards[92].

Financial Performance - As of December 31, 2019, the distributable profit available for shareholders was CNY 248,082,739.35, with a capital reserve balance of CNY 260,272,452.35[5] - The company's operating revenue for 2019 was approximately CNY 1,033 million, representing a year-on-year increase of 62.96%[23] - The net profit attributable to shareholders of the listed company was approximately CNY 57.5 million, an increase of 7.13% compared to the previous year[23] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 51.74% to approximately CNY 52.2 million[25] - The net cash flow from operating activities surged by 386.42% to approximately CNY 435.2 million, driven by improved collection of receivables and increased advance payments for general contracting projects[25] - The basic earnings per share rose to CNY 0.33, reflecting a 6.45% increase from the previous year[24] - The total assets at the end of 2019 reached approximately CNY 1,339 million, marking a 31.39% increase year-on-year[23] - The weighted average return on equity increased to 7.55%, up by 0.25 percentage points from the previous year[24] - The company achieved a revenue of ¥1,033,013,799.97, representing a year-on-year growth of 62.96%[53] - The net profit attributable to shareholders was ¥57,502,068.91, an increase of 7.13% compared to the previous year[53] Profit Distribution - The proposed profit distribution plan includes a cash dividend of CNY 2 per 10 shares (before tax) and a capital reserve conversion of 4 shares for every 10 shares held[5] - The company plans to distribute cash dividends of at least 20% of the distributable profits each year, provided certain conditions are met[103] - In 2019, the company distributed a cash dividend of 2.0 yuan per 10 shares, totaling 34,825,600.20 yuan, which represents 60.56% of the net profit attributable to shareholders[109] - The cash dividend in 2018 was 2.5 yuan per 10 shares, amounting to 43,532,000.25 yuan, which accounted for 81.10% of the net profit attributable to shareholders[109] - The company has established a profit distribution policy that prioritizes cash dividends, especially during its growth phase[106] Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the accuracy and completeness of the financial report[4] - The report emphasizes the importance of accurate financial disclosures and the responsibilities of the board and management[8] - The company has maintained compliance with relevant decision-making procedures regarding external guarantees[7] - The company has maintained compliance with all commitments made during its IPO process, ensuring investor confidence[112] Operational Risks and Future Outlook - The company has outlined potential risks in its future development strategy, which investors should be aware of[9] - The financial report includes a detailed discussion of the company's operational risks and future outlook[9] - The company is committed to sustainable development and shareholder returns as part of its business development plan[5] - The company is actively exploring investments in new facility projects to expand its market reach[36] - The company faces challenges such as increased market competition and the need for technological innovation in the context of economic restructuring[81] Industry Position and Strategy - The company operates in the professional technical service industry, primarily serving the petrochemical sector, providing comprehensive solutions from planning to operation services[34] - The petrochemical industry is crucial for economic stability, with fixed asset investments influencing the company's business scale[39] - The company differentiates itself in the market by focusing on sulfur recovery and hydrogenation projects, which are aligned with environmental protection and oil quality upgrades[40] - The company is positioned among several large engineering firms in the petrochemical sector, competing in niche markets[40] - The company aims to focus on niche areas within petrochemical engineering to achieve differentiated competition and transformation[80] Project Management and Execution - The company has a robust project management capability, ensuring timely and efficient completion of projects, which has contributed to high customer satisfaction[43] - The company emphasizes the importance of quality and safety in project execution, particularly in major projects like the Guangdong Petrochemical 20 million tons/year heavy oil processing project[89] - The company utilizes a matrix management approach for project execution, integrating various departments to ensure effective project delivery[36] Research and Development - Research and development expenses increased by 48.10% to ¥31,273,634.40, indicating a strong focus on innovation[55] - The company is focusing on technological innovation and collaboration with patent holders to enhance its core competitiveness and develop advanced technologies for the petrochemical industry[97] - The company is committed to technological innovation and increasing R&D investment, particularly in core technologies related to sulfur recovery and petrochemical engineering[91] Shareholding Structure - The company has a total of 161 shareholders, with no agreements that could lead to joint control over the company[192] - The company has no controlling shareholder or actual controller, maintaining a decentralized ownership structure throughout the reporting period[195] - The company’s stock structure reflects a significant portion of shares under lock-up, with the majority held by domestic natural persons[171] Employee Management and Development - The company emphasizes the importance of employee training and development to enhance overall business capabilities and retain talent[93] - The company aims to strengthen its performance management mechanisms to better motivate employees and improve overall productivity[93] - The company has established a comprehensive employee social insurance management system to protect employee rights[158] Social Responsibility - The company has actively participated in social responsibility initiatives, including disaster relief and educational support[160] - The company has maintained a zero accident rate in quality safety management for ongoing projects in 2019[159] Legal and Regulatory Compliance - The company has not faced any major litigation or arbitration matters during the reporting period, indicating a stable legal standing[121] - The company has maintained a good credit status, with no debt defaults or regulatory penalties reported as of the end of the reporting period[121]

2020 年第一季度报告 公司代码：603637 公司简称：镇海股份 镇海石化工程股份有限公司 2020 年第一季度报告 1 / 19 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 8 | 2020 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | --- | --- | --- | --- | | | | | 减(%) | | 总资产 | 1,263,109,885.74 | 1,338,509,416.28 | -5.63 | | 归属于上市公司 | 780,120,942.99 | 775,755,085.47 | 0.56 | | 股东的净资产 | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | 经营活动产生的 | -37,312,213.13 | 71,327,562.95 | -152.31 | | 现金流量净额 | | | | | | 年初至报告期末 | ...