Financial Performance - In 2022, the company's operating revenue was CNY 574,469,296.12, a decrease of 47.78% compared to CNY 1,100,056,235.41 in 2021[23]. - The net profit attributable to shareholders of the listed company increased by 37.60% to CNY 103,051,828.12 from CNY 74,889,693.87 in 2021[23]. - The basic earnings per share rose to CNY 0.43, reflecting a growth of 38.71% from CNY 0.31 in 2021[24]. - The weighted average return on equity increased to 12.10%, up by 2.85 percentage points from 9.25% in 2021[24]. - The net cash flow from operating activities was CNY 70,546,168.52, a decline of 63.84% compared to CNY 195,079,278.29 in 2021[23]. - By the end of 2022, the total assets amounted to CNY 1,410,942,983.38, a slight decrease of 0.79% from CNY 1,422,126,642.85 at the end of 2021[23]. - The net assets attributable to shareholders of the listed company increased by 9.11% to CNY 890,914,946.26 at the end of 2022[23]. - The company achieved operating revenue of CNY 574,469,296.12 in 2022, a year-on-year decrease of 47.78%[35]. - The company reported a net cash flow from operating activities of ¥70,546,168.52, down 63.84% year-on-year[81]. - The company reported a significant decrease in inventory by 74.72% to ¥4,504,384.58, down from ¥17,815,831.86 in the previous period[95]. Dividend Distribution - The company plans to distribute a cash dividend of 1.3 RMB per 10 shares, totaling approximately 31,029,164.01 RMB, which represents 30.11% of the net profit attributable to shareholders for the year[7]. - The total share capital as of April 19, 2023, is 243,678,373 shares, with 4,992,496 shares held in the company's repurchase account, resulting in a base of 238,685,877 shares for dividend calculation[7]. - The company maintains a stable profit distribution policy, ensuring that cash dividends are at least 20% of the distributable profits each year[162]. - The cash dividend distribution policy requires a minimum of 20% of distributable profits to be distributed in cash when the company is in a growth phase with significant capital expenditures[167]. - The company has maintained a consistent dividend distribution policy, with no adjustments made during the reporting period[168]. Risk Management - The company has not identified any significant risks that could adversely affect its future development strategy or ongoing operations during the reporting period[10]. - The company has detailed its future development risks in the management discussion and analysis section of the report[10]. - The company faces risks from a changing market environment, including increased global economic pressures and structural adjustments in the petrochemical industry[113]. - The company will provide one-stop solutions from planning to operation to mitigate operational risks and ensure sustainable business practices[114]. Corporate Governance - The company received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the accuracy and completeness of the financial report[6]. - The company’s management has stated that all board members attended the board meeting, ensuring collective responsibility for the report's accuracy[5]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with governance regulations[125]. - The company has established a performance evaluation and compensation mechanism linking employee income to work performance[125]. - The company adheres to strict information disclosure obligations, ensuring transparency and protecting shareholder rights[126]. Market and Industry Trends - The petrochemical industry saw a total revenue of CNY 16.56 trillion in 2022, with a year-on-year growth of 14.4%[48]. - Investment in the chemical raw materials and products manufacturing sector grew by 18.8% year-on-year, indicating a positive trend in the industry[48]. - The digital transformation of the petrochemical industry is in its early stages, with a focus on integrating technology, business, and organization to enhance operational efficiency[57]. - The company is focusing on the "reduce oil and increase chemicals" strategy, aiming to enhance the yield of chemical products and capture market opportunities in high-end manufacturing sectors such as new materials and aerospace[70]. Research and Development - The company completed 11 R&D projects and 28 business constructions during the reporting period, indicating a strong commitment to innovation and development[76]. - The company invested $50 million in R&D for new technologies aimed at enhancing operational efficiency[138]. - Research and development investments have increased by 30%, focusing on sustainable technologies and product enhancements[140]. - The company plans to enhance its research and development capabilities through collaboration with institutions like the Ningbo Materials Institute[110]. Strategic Initiatives - The company is actively pursuing market expansion, signing framework agreements with major clients including Sinopec and CNOOC, and winning key project bids[42]. - The company is committed to improving safety and quality standards, receiving multiple accolades from clients for its project execution and management[44]. - The company is expanding its market focus from regional to national and international levels, aiming for integrated service offerings across the entire industry chain[117]. - The company is committed to sustainable development by promoting green production processes and technologies[104]. Employee and Management - The total remuneration for all directors, supervisors, and senior management personnel in 2022 amounted to CNY 7.797 million[146]. - The company has established a performance-based salary system linked to output growth, with a principle of "basic salary + performance salary"[158]. - A total of 1,200 training sessions were conducted for employees through various methods, including expert lectures and online teaching[159]. - The company has a total of 71 R&D personnel, accounting for 19.83% of the total workforce[92]. Environmental and Social Responsibility - The company actively integrates energy-saving and emission-reduction measures into green technology development and daily operations, focusing on core technology areas such as energy conservation and clean production[181]. - The company actively participates in public welfare activities, including disaster relief and educational support, fulfilling its social responsibilities[184]. - The company is not listed as a key pollutant discharge unit and complies with national environmental laws and regulations[180].

Financial Performance - The company's operating revenue for Q1 2023 was CNY 134,568,812.84, a decrease of 13.35% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 19,700,643.72, representing an increase of 46.20% year-on-year[5] - Basic earnings per share increased by 33.33% to CNY 0.08[6] - The company reported a net profit of RMB 4,821,439.06 for Q1 2023, compared to a net profit of RMB 14,610,123.86 in Q1 2022[20] - The net profit for Q1 2023 was CNY 19,700,643.72, an increase of 46.5% compared to CNY 13,474,867.20 in Q1 2022[22] - Operating profit for Q1 2023 reached CNY 21,513,814.08, up 40.9% from CNY 15,262,377.32 in the same period last year[22] - The total revenue from sales of goods and services in Q1 2023 was CNY 169,001,144.70, up from CNY 105,199,041.65 in Q1 2022, marking a growth of 60.8%[24] Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,369,119,342.01, down 2.96% from the end of the previous year[6] - Total assets as of March 31, 2023, were RMB 1,369,119,342.01, down from RMB 1,410,942,983.38 at the end of 2022[18] - Total liabilities decreased to RMB 458,503,752.03 from RMB 520,028,037.12 year-over-year[17] - The total liabilities decreased to ¥452,431,947.28 in Q1 2023 from ¥513,807,582.38 in Q4 2022, reflecting a reduction of 11.93%[29] Cash Flow - The cash flow from operating activities was CNY 1,105,410.44, with no applicable year-on-year comparison[5] - Cash flow from operating activities generated a net inflow of CNY 1,105,410.44, a significant recovery from a net outflow of CNY 116,821,218.29 in Q1 2022[25] - The total cash inflow from investment activities was CNY 151,266,575.34, while cash outflow was CNY 30,832,485.48, resulting in a net cash inflow of CNY 120,434,089.86[25] - The cash inflow from operating activities for Q1 2023 showed a positive trend, indicating improved liquidity management[34] - The net cash flow from operating activities turned positive at $626,253.62, a significant improvement from a net outflow of $116.6 million in the same quarter last year[35] - The total net increase in cash and cash equivalents for the quarter was $151.1 million, compared to a net decrease of $122.0 million in Q1 2022[35] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 13,841[12] - The largest shareholder, Ningbo Shuntong Group Co., Ltd., holds 40,279,836 shares, accounting for 16.53% of the total shares[12] Research and Development - Research and development expenses for Q1 2023 were RMB 3,877,446.44, a decrease from RMB 4,252,091.64 in Q1 2022[20] - Research and development expenses for Q1 2023 were ¥3,877,446.44, slightly down from ¥4,252,091.64 in Q1 2022[31] Government Support - The company received government subsidies amounting to CNY 11,206,335.53, closely related to its normal business operations[9] Financial Management - The company incurred financial expenses of CNY -4,789,950.46 in Q1 2023, a decrease from CNY -5,205,455.38 in Q1 2022[21] - The investment income for Q1 2023 was CNY 999,739.56, compared to CNY 728,287.63 in Q1 2022, indicating a growth of 37.2%[21] - The company reported a significant decrease in credit impairment losses, which were CNY 5,486,299.93 in Q1 2023, compared to a loss of CNY -783,369.70 in Q1 2022[21] Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters to drive growth[34]

证券代码：603637 证券简称：镇海股份 公告编号：2023- 004 镇海石化工程股份有限公司 关于召开 2022 年度业绩说明会的预告公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 会议召开时间：2023 年 5 月 16 日（星期二）上午 10:00-11:00 会议召开地点：同花顺上市公司路演平台（以下简称"同花顺路演平台"， 网址：https://board.10jqka.com.cn/rs）或同花顺 App 端入口（同花顺 App 首页-更多-特色服务-路演平台） 会议召开方式：网络在线互动 投资者可于 2023 年 5 月 15 日（星期一）16:00 前通过电子邮件 （zpec@izpec.com）方式联系公司，提出所关注的问题，公司将在业绩说明 会上对投资者普遍关注的问题进行回答。 一、说明会类型 镇海石化工程股份有限公司（以下简称"公司"）已于 2023 年 4 月 21 日（4 月 20 日收盘后）在上海证券交易所网站（http://www.sse.com.cn/）发布公司 ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥146,302,616.84, a decrease of 27.41% compared to the same period last year[5]. - Net profit attributable to shareholders was ¥11,779,089.81, down 25.12% year-on-year, while the net profit after deducting non-recurring gains and losses was ¥11,008,132.12, a decrease of 27.70%[5]. - The basic earnings per share for the quarter was ¥0.05, a decline of 16.67% compared to the previous year[6]. - The weighted average return on equity decreased to 1.40%, down 0.57 percentage points from the previous year[6]. - Total operating revenue for the first three quarters of 2022 was CNY 471,204,602.90, a decrease of 29.1% compared to CNY 664,943,307.30 in the same period of 2021[19]. - The net profit for Q3 2022 was CNY 57,055,235.69, representing an increase of 13.9% compared to CNY 50,099,338.78 in Q3 2021[21]. - Net profit for the first three quarters of 2022 reached CNY 56,484,532.72, representing a 23% increase compared to CNY 45,932,947.18 in the previous year[29]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,434,774,209.55, reflecting a slight increase of 0.89% from the end of the previous year[6]. - As of September 30, 2022, total assets amounted to CNY 1,434,774,209.55, slightly up from CNY 1,422,126,642.85 at the end of 2021[18]. - Total liabilities decreased to CNY 589,855,853.85 from CNY 605,621,219.47, a reduction of about 2.6%[18]. - The company's equity attributable to shareholders rose to CNY 844,918,355.70 from CNY 816,505,423.38, an increase of approximately 3.5%[18]. - The total liabilities decreased to CNY 583,788,585.29 from CNY 596,904,357.90 at the end of 2021, indicating a reduction in financial obligations[28]. Cash Flow - The company reported a cash flow from operating activities of -¥18,524,011.77, indicating a significant decline[6]. - The net cash flow from operating activities for the first nine months of 2022 was negative at CNY -18,524,011.77, compared to a positive CNY 191,756,461.72 in the same period of 2021[24]. - The company generated CNY 494,761,801.83 in cash inflows from operating activities during the first nine months of 2022, a decrease from CNY 922,855,613.49 in the same period of 2021[23]. - Operating cash flow for the first three quarters of 2022 was negative at -16,825,467.33 RMB, a significant decline compared to 199,084,933.39 RMB in the same period of 2021[30]. - Total cash inflow from operating activities was 493,402,845.88 RMB, down from 922,289,242.73 RMB year-over-year, representing a decrease of approximately 46.5%[30]. - Cash outflow from operating activities totaled 510,228,313.21 RMB, compared to 723,204,309.34 RMB in the previous year, indicating a reduction of about 29.5%[30]. Investments - Long-term equity investments increased by 224.87%, attributed to the capital contribution to Ningbo Huafu New Materials Technology Co., Ltd.[10]. - The company reported a total investment cash outflow of CNY 307,929,603.93 in Q3 2022, compared to CNY 183,805,102.78 in Q3 2021[24]. - The company received 200,996,573.52 RMB from investment recoveries during the first three quarters of 2022[30]. - The company paid 305,600,000.00 RMB for investments, which is a significant cash outflow in the investment activities section[30]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,462[12]. - The company had a total of 4,992,496 shares held in a repurchase account, accounting for 2.05% of circulating shares[13]. - The company has signed a "consensus action agreement" among major shareholders, indicating a unified strategy moving forward[13]. Inventory and Receivables - Accounts receivable increased by 62.95%, primarily due to an increase in receivables from general contracting projects[10]. - Inventory decreased by 98.49%, mainly due to materials in transit for general contracting projects[10]. - The company's inventory as of September 30, 2022, was CNY 268,164.61, a significant decrease from CNY 17,815,831.86 at the end of 2021[27]. - Accounts receivable increased to CNY 266,153,155.47 from CNY 163,334,118.93, representing a growth of 62.9%[16]. Expenses - The company incurred sales expenses of CNY 1,657,857.22 in Q3 2022, compared to CNY 1,144,539.31 in Q3 2021, indicating a rise in sales-related costs[20]. - The company reported a tax expense of CNY 7,342,709.77 for Q3 2022, slightly higher than CNY 7,270,431.80 in Q3 2021[21]. - Research and development expenses for the first three quarters of 2022 were CNY 15,282,881.11, slightly down from CNY 15,638,221.78 in the previous year[28].

Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥324.90 million, a decrease of 29.88% compared to ¥463.38 million in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2022 was approximately ¥45.28 million, representing an increase of 31.74% from ¥34.37 million in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥37.68 million, up 58.68% from ¥23.75 million in the same period last year[20]. - The net cash flow from operating activities was negative at approximately -¥59.83 million, a decline of 144.06% compared to ¥135.78 million in the previous year[20]. - The total assets at the end of the reporting period were approximately ¥1.40 billion, a decrease of 1.63% from ¥1.42 billion at the end of the previous year[20]. - The net assets attributable to shareholders at the end of the reporting period were approximately ¥833.14 million, an increase of 2.04% from ¥816.51 million at the end of the previous year[20]. - The basic earnings per share for the first half of 2022 were ¥0.19, reflecting a growth of 35.71% compared to ¥0.14 in the same period last year[20]. - The diluted earnings per share for the first half of 2022 were also ¥0.19, consistent with the basic earnings per share growth of 35.71%[20]. - The weighted average return on equity increased to 5.43%, up 1.15 percentage points from 4.28% in the previous year[20]. - The company reported a total non-recurring gain of 7,594,286.29, with a tax impact of 1,340,168.17[22]. Industry Context - The company operates in the professional technical service industry, specifically serving the petrochemical sector, providing a comprehensive range of services from planning and consulting to design, procurement, construction management, and operational services[25]. - Engineering general contracting business accounts for a significant portion of the company's revenue, with a focus on quality, safety, schedule, and cost management[25]. - The petrochemical industry is a crucial pillar of the national economy, with significant impacts from national development plans and international oil price fluctuations on project investment supply and demand[30]. - The company’s business model is closely tied to the development and investment trends in the petrochemical industry, indicating a positive correlation with industry growth[30]. - The shift towards "reducing oil and increasing chemicals" and refining integration is seen as a breakthrough for the high-end development of China's petrochemical industry[35]. Research and Development - The company is committed to research and innovation in environmental protection, oil quality upgrades, and energy conservation[25]. - The company has initiated 15 R&D projects and 34 business construction projects in the first half of 2022, focusing on technology innovation and patent applications[50]. - The company is focused on R&D in areas such as industrial waste gas control and low-carbon technologies, with successful applications in products and services[41]. - The company developed the LS-ZHSR technology, achieving a sulfur recovery rate of 99.98% and SO2 emission concentration of ≯10 mg/Nm³[39]. - The company aims to enhance its digital transformation to improve operational efficiency and competitiveness in the petrochemical sector[35]. Market Position and Strategy - The company has established framework agreements with major clients, including Sinopec and Ningbo Zhoushan Refinery, enhancing market presence[45]. - The company is positioned in the Yangtze River Delta, a region with significant petrochemical market potential and advantages in resource attraction[41]. - The company focuses on differentiated competition in sulfur recovery and hydrogenation, holding a strong competitive advantage in niche markets[34]. - Future opportunities for the company include direct investment in the ASEAN region due to the tight supply of refined oil products, benefiting from the ongoing industrial structure upgrade[37]. - The company plans to strengthen market development efforts and optimize resource allocation to improve market resilience and customer service[65]. Governance and Management - The first extraordinary general meeting of 2022 was held on May 6, with 76,728,814 shares represented, accounting for 32.15% of the total voting shares[72]. - The annual general meeting for 2021 took place on May 20, with 65,638,608 shares represented, which is 27.50% of the total voting shares[73]. - The company has elected new board members, including non-independent directors and independent directors, to enhance governance[74]. - There were significant changes in the board of directors and management, with multiple resignations including the chairman and several vice presidents[75][76]. Financial Management - The company’s cash and cash equivalents decreased by 21.63% to ¥706,357,567.10, down from ¥901,355,897.31 in the previous year[53]. - Accounts receivable increased by 35.57% to ¥221,439,243.31, compared to ¥163,334,118.93 in the previous year, due to increased project receivables[54]. - The company’s total liabilities and assets ratio indicates a stable financial position, with total assets amounting to ¥2,680,801.79 in overseas assets, accounting for 0.19% of total assets[55]. - The company reported a total of 4,992,496 shares in circulation, with a repurchase account holding 2.05% of the total shares[100]. - The company’s long-term equity investments increased from CNY 2,400,000.00 to CNY 7,941,629.26, an increase of approximately 230.9%[110]. Social Responsibility - The company actively participates in social responsibility initiatives, including disaster relief and educational support, reflecting its commitment to community welfare[81]. Accounting and Financial Reporting - The financial statements are prepared based on the going concern principle, with no significant doubts regarding the company's ability to continue operations for the next 12 months[143]. - The company adheres to the accounting standards for enterprises, ensuring that the financial statements accurately reflect its financial position and operating results[145]. - The company has specific accounting policies for financial instruments, fixed asset depreciation, and revenue recognition tailored to its operational characteristics[144]. - Revenue is recognized based on the assessment of contracts, identifying performance obligations, and determining the timing of revenue recognition[199].

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].