Financial Performance - The company's operating revenue for Q3 2022 was CNY 1,287,959,165.59, a decrease of 11.50% year-on-year[6]. - The net profit attributable to shareholders for Q3 2022 was CNY 63,833,690.76, down 33.84% compared to the same period last year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2022 was CNY 54,571,868.15, a decline of 39.31% year-on-year[6]. - The main business revenue for the first nine months of 2022 was CNY 3.69 billion, a decrease of 12.10% year-on-year[8]. - Total operating revenue for the first three quarters of 2022 was ¥3,728,676,839.66, a decrease of approximately 11.8% compared to ¥4,227,056,494.44 in the same period of 2021[24]. - Net profit for the first three quarters of 2022 was ¥274,826,981.67, a decline of approximately 29.3% from ¥388,775,557.18 in the previous year[25]. - The total comprehensive income for the first three quarters of 2022 was ¥274,826,981.67, down from ¥388,775,557.18 in the previous year, reflecting a decrease of approximately 29.3%[26]. Earnings and Shares - The basic earnings per share for Q3 2022 was CNY 0.15, down 33.84% year-on-year[7]. - The diluted earnings per share for Q3 2022 was also CNY 0.15, reflecting the same decline[7]. - Earnings per share for the first three quarters of 2022 were ¥0.50, compared to ¥0.74 in the same period of 2021, indicating a decrease of about 32.4%[26]. Revenue Breakdown - The revenue from sanitation service business was CNY 2.63 billion, an increase of 5.33%, accounting for 71.30% of the main business revenue[8]. - The revenue from sanitation equipment was CNY 980 million, a decrease of 38.03%, accounting for 26.56% of the main business revenue[8]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 5,591,366,466.77, a slight increase of 0.05% from the end of the previous year[7]. - The company's current liabilities totaled RMB 1.874 billion, down from RMB 2.036 billion at the end of 2021, indicating improved liquidity[20]. - The total liabilities as of the end of the third quarter of 2022 amounted to ¥2,158,920,321.57, a decrease from ¥2,278,743,290.52 at the end of the previous year[24]. - The total equity attributable to shareholders was ¥3,125,809,061.39, an increase from ¥3,018,080,982.14 in the previous year, reflecting a growth of approximately 3.6%[24]. Cash Flow - The cash inflow from operating activities was CNY 3,616,376,447.30, a decrease of 7.3% compared to CNY 3,900,988,280.13 in the same period of 2021[28]. - The net cash flow from operating activities was negative at CNY -20,550,637.23, an improvement from CNY -181,715,542.36 in the previous year[28]. - The cash outflow for purchasing goods and services was CNY 1,682,904,340.10, down 18.2% from CNY 2,059,923,737.54 in the prior year[28]. - The net cash flow from investing activities was CNY -178,721,516.04, slightly worse than CNY -167,318,885.27 in the same period last year[29]. - Cash inflow from financing activities totaled CNY 169,246,328.41, a decrease of 31.4% compared to CNY 246,815,492.79 in 2021[29]. - The ending cash and cash equivalents balance was CNY 480,772,025.48, down from CNY 527,045,785.06 at the end of the previous year[29]. Market Performance - The company's market share in sanitation equipment was 4.33%, ranking fifth in the industry, while its market share for innovative and mid-to-high-end sanitation vehicles was 7.54%, ranking third[15]. - In the first three quarters of 2022, the company sold a total of 3,300 sanitation vehicles, with innovative and mid-to-high-end models accounting for 61.76% of total sales[16]. - The company's innovative sanitation vehicle sales in Q3 2022 were 710 units, representing 58.58% of total sales for that quarter[16]. - In the first three quarters of 2022, the total sales of sanitation vehicles in China were 65,776 units, a decrease of 12,937 units or 16.44% year-on-year[15]. Contracts and Projects - In the first three quarters of 2022, the company won 28 sanitation service projects with an annual contract value of RMB 412 million, totaling RMB 1.647 billion in contracts[14]. - As of the end of the reporting period, the company had a total annual contract value of RMB 3.985 billion in sanitation services, with a total contract amount of RMB 31.108 billion and a pending contract amount of RMB 1.8295 billion[14]. Research and Development - Research and development expenses for the first three quarters of 2022 were ¥40,501,185.49, slightly up from ¥38,686,689.58 in 2021, indicating a year-over-year increase of about 4.2%[24]. Investment Performance - The company reported an investment loss of ¥2,080,728.41 for the first three quarters of 2022, compared to a gain of ¥3,700,234.63 in the same period of 2021[24]. - The company's cash flow from investment activities included CNY 13,611,443.01 from recovering investments, significantly up from CNY 2,541,905.16 in the same period last year[29]. Deferred Income - The company’s deferred income as of the end of the third quarter of 2022 was ¥28,114,134.86, down from ¥30,206,141.75 in the previous year, indicating a decrease of about 6.9%[24].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥2,440,717,674.07, a decrease of 11.94% compared to the same period last year[21]. - The net profit attributable to shareholders for the first half of 2022 was ¥144,018,541.14, down 31.78% year-on-year, primarily due to a decline in sanitation equipment revenue and the expiration of tax incentives for sanitation services[22]. - The basic earnings per share for the first half of 2022 was ¥0.35, a decrease of 31.37% compared to the same period last year[21]. - The net cash flow from operating activities for the first half of 2022 was -¥66,202,600.66, showing an improvement from -¥320,469,244.97 in the previous year[21]. - The total assets at the end of the reporting period were ¥5,434,414,699.57, a decrease of 2.76% from the end of the previous year[21]. - The net assets attributable to shareholders at the end of the reporting period were ¥3,061,250,958.45, an increase of 1.43% compared to the end of the previous year[21]. - The weighted average return on net assets for the first half of 2022 was 4.66%, down 2.71 percentage points from the same period last year[21]. - The main business revenue was 2.42 billion RMB, a decline of 12.14% year-on-year, with a gross margin of 22.40%, an increase of 0.25 percentage points[39]. - The company's sanitation equipment revenue was 625 million RMB, a decrease of 38.55% year-on-year, accounting for 25.85% of main business revenue[40]. - The sanitation service business revenue grew by 5.58% year-on-year to 1.73 billion RMB, representing 71.64% of main business revenue[41]. Market and Sales Performance - As of June 30, 2022, the total sales of sanitation vehicles in China reached 44,397 units, a decrease of 18.86% year-on-year, with innovative and mid-to-high-end models accounting for 39.19% of total sales, down 1.25 percentage points[29]. - The sales of new energy sanitation vehicles increased by 75.04% year-on-year, totaling 2,146 units, representing 4.83% of the total sanitation vehicle sales in China[30]. - The total contract amount for sanitation service projects reached ¥1,081 billion, reflecting a year-on-year growth of 10.42%[31]. - The sanitation service market is experiencing a slowdown in growth due to the ongoing pandemic and fiscal constraints, with a 2.18% year-on-year increase in the number of new sanitation service projects[31]. - The company secured 20 new sanitation service projects with a first-year annual amount of 266 million RMB, totaling 1.23 billion RMB in contract value[41]. Research and Development - The company’s R&D expenses were approximately 26.64 million RMB, remaining stable compared to the previous year[47]. - The total investment in the new sanitation equipment R&D and intelligent manufacturing project is RMB 27,492.53 million, with an actual investment of RMB 20,796.79 million as of the end of the period, achieving a project input progress of 75.65%[54]. - The company has developed a comprehensive product line with 440 models, including 36 clean energy products and 107 new energy models[27]. - The company is actively expanding its overseas market presence and has signed contracts with multiple new energy product agents[44]. Environmental and Regulatory Compliance - The company is classified as a key pollutant discharge unit in Fujian Province, specifically for soil pollution[79]. - The company’s wastewater treatment facility operates effectively, ensuring that wastewater meets the standards set by GB/T31962-2015[82]. - The company’s air pollution control facilities are compliant with the Comprehensive Emission Standard for Air Pollutants (GB16297-1996) and other relevant standards[82]. - The company has established an emergency response plan for environmental incidents, enhancing its ability to manage unexpected pollution events[84]. - The company has implemented a self-monitoring plan for environmental emissions, adhering to relevant regulations and publicly disclosing monitoring data[85]. - No administrative penalties were imposed on the company during the reporting period for environmental issues[86]. - The company has successfully completed environmental impact assessments for all construction projects, adhering to the "three simultaneous" principle of environmental protection[83]. Shareholder and Corporate Governance - The company has not proposed any profit distribution plan for the reporting period[6]. - The company did not distribute profits or increase capital reserves in the first half of 2022, with no shares or dividends allocated[75]. - The company held its annual general meeting on May 6, 2022, where resolutions including the approval of the 2020 annual report and profit distribution were passed[73]. - The controlling shareholder Zhang Guifeng pledged to hold company shares long-term and comply with regulations regarding share reduction after the lock-up period[106]. - The company will ensure timely and accurate disclosure of information regarding share reductions by major shareholders[106]. Financial Risks and Challenges - The company faces market competition risks due to increasing participation from other enterprises in the sanitation service market, which may impact its market position and profitability[58]. - The company is exposed to financial risks related to accounts receivable, which may affect its operational performance if not collected in a timely manner[64]. - The company anticipates challenges in project revenue due to external factors such as local government financial conditions and labor cost variations[69]. - The company is at risk of losing tax benefits if it no longer qualifies as a high-tech enterprise, which could adversely affect its financial performance[67]. Investment and Capital Structure - The total investment amount during the reporting period was ¥98,543,100.00, an increase of 86.15% from ¥52,938,000.00 in the previous year[51]. - The company transferred 40% equity in Hainan Yideng for ¥6,009,083.98, ceasing to hold any shares in the company[53]. - The total amount of external guarantees provided by the company, excluding guarantees for subsidiaries, is 404.76 million RMB, with a guarantee balance of 0 at the end of the reporting period[118]. - The total guarantee amount, including guarantees for subsidiaries, is 1.228448 billion RMB, which accounts for 3.68% of the company's net assets[118]. Operational Efficiency - The company reported a significant decrease in other non-current financial assets from RMB 11,959,409.03 to RMB 10,839,015.15, reflecting a reduction of RMB 1,120,393.88[56]. - The company has digitized management for over 40,000 frontline employees and assets worth over 300 million yuan through its smart sanitation cloud platform[99]. - The company has created approximately 16,000 rural employment positions related to sanitation and environmental management[101].

1 / 12 福龙马：2022 年第一季度报告 证券代码：603686 证券简称：福龙马 福龙马集团股份有限公司 2022 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务报表 信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期增减 变动幅度(%) | | | --- | --- | --- | --- | | 营业收入 | 1,218,251,979.33 | -12.67 | | | 归属于上市公司股东的净利润 | 79,093,253.73 | -33.74 | | | 归属于上市公司股东的扣除非经常性 损益的净利润 | 70 ...

Financial Performance - In 2021, the company's operating revenue reached RMB 5.70 billion, a year-on-year increase of 4.75%[22]. - The net profit attributable to shareholders decreased by 23.13% to RMB 340.26 million, primarily due to the expiration of tax incentives and a decline in the gross margin of sanitation equipment[23]. - The net cash flow from operating activities fell by 86.19% to RMB 121.47 million, mainly due to a reduction in received payments[23]. - Basic earnings per share decreased by 22.64% to RMB 0.82, while the diluted earnings per share also fell by the same percentage[24]. - The total assets at the end of 2021 were RMB 5.59 billion, a year-on-year increase of 2.22%[22]. - The weighted average return on equity decreased to 11.65%, down 4.78 percentage points from the previous year[22]. Business Operations - The sanitation service business generated revenue of RMB 3.38 billion, an increase of 11.68%, accounting for 59.72% of total revenue[30]. - The sanitation equipment business revenue declined by 11.01% to RMB 2.11 billion, with a gross margin of 19.31%, down 6.40 percentage points[31]. - The company added new PPP project asset construction service revenue of RMB 149 million, representing 2.64% of total revenue[30]. - The company’s environmental service revenue reached 3.381 billion yuan in 2021, a year-on-year increase of 11.68%, with a gross margin of 23.29%, down 2.46 percentage points year-on-year[35]. - The company’s sanitation service operations covered 19 provinces and autonomous regions, serving nearly 64 million people with over 47,000 frontline employees[37]. Research and Development - The company completed 453 product optimization improvements in 2021 and announced 95 new products, including 28 new energy products[41]. - The company’s R&D efforts led to the completion of 11 patents, including 10 utility model patents and 1 design patent, focusing on autonomous innovation in solid waste disposal[38]. - Research and development expenses increased by 25.39% to 58 million RMB, indicating a focus on innovation[89]. - The company has a strong R&D capability, with a focus on electric, intelligent, and networked technologies, and has developed multiple self-researched leachate treatment and kitchen waste treatment equipment[80]. Market and Competitive Landscape - The company achieved a market share of 5.91% in the sanitation equipment sector, up 0.42 percentage points year-on-year, while the market share for innovative and high-end operational vehicles was 10.20%, down 0.70 percentage points[34]. - The sanitation service market has reached a marketization rate of over 70% in urban areas, indicating a shift from high growth to a focus on existing contracts[132]. - The competitive landscape of the sanitation service industry is evolving, with a market share of 11% held by the top 10 companies[131]. - The company is actively pursuing international markets and aims to introduce advanced foreign technologies to optimize its products[136]. Strategic Initiatives - The company plans to enhance production efficiency and quality by relocating its sanitation equipment production system to a new facility[31]. - The company aims to achieve a sales volume of new energy vehicles accounting for approximately 20% of total new car sales by 2025[57]. - The company is committed to high-quality development and strategic upgrades following its name change to Fulongma Group Co., Ltd. in December 2021[42]. - The company plans to establish a comprehensive waste management system, including the introduction of a waste classification system by 2025[57]. Environmental Responsibility - The company was listed as a key pollutant discharge unit in Fujian Province, highlighting its environmental responsibilities[196]. - The company’s wastewater treatment facility achieved compliance with discharge standards, with COD levels at 87 mg/L, below the limit of 450 mg/L[198]. - The company has implemented a self-monitoring plan for environmental compliance, ensuring regular testing of air and water pollutants[199]. - The company has upgraded its pollution control facilities to meet environmental protection requirements, ensuring effective operation and compliance[200]. Governance and Compliance - The company has established a robust governance structure, ensuring compliance with regulations and enhancing investor communication and transparency[160]. - The audit committee held 5 meetings during the reporting period, reviewing key financial reports including the 2021 Q1 and Q2 financial statements[177]. - The company has not been subject to penalties from securities regulatory agencies in the past three years[172]. - The internal control audit report received a standard unqualified opinion, indicating effective internal control practices[194]. Shareholder Engagement - The company plans to distribute at least 20% of the annual distributable profit as cash dividends over the next three years, prioritizing cash over stock dividends[185]. - The total number of shares held by directors and senior management at the end of the reporting period was 78,065,939, reflecting an increase of 469,450 shares during the year[165]. - The company reported a total of 170.95 million yuan allocated to the performance incentive fund for the year 2021, meeting the conditions for accrual[166]. - The company has established a performance evaluation mechanism for senior management, linking compensation to performance assessments conducted annually[191].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 1,455,261,011.43, a decrease of 1.70% compared to the same period last year[5]. - Net profit attributable to shareholders was CNY 96,481,340.66, down 28.82% year-on-year[5]. - The main business revenue reached CNY 4.198 billion, an increase of 8.61% year-on-year, with sanitation service revenue at CNY 2.494 billion, up 12.47%[7]. - Total operating revenue for the first three quarters of 2021 reached ¥4,227,056,494.44, an increase of 8.5% compared to ¥3,895,344,146.34 in the same period of 2020[24]. - Net profit for the first three quarters of 2021 was ¥388,775,557.18, a decrease of 4.4% from ¥406,893,120.88 in the previous year[25]. - The company reported a basic earnings per share of CNY 0.23, down 28.79% year-on-year[6]. - Basic and diluted earnings per share for the first three quarters of 2021 were both ¥0.74, down from ¥0.80 in the same period of 2020[26]. - The company's total profit for the first three quarters of 2021 was ¥451,823,859.61, a decrease from ¥471,538,930.27 in the same period of 2020[25]. Cash Flow and Liquidity - The cash flow from operating activities for the year-to-date was CNY -181,715,542.36, a decrease of 149.23%[10]. - Cash flow from operating activities showed a net outflow of ¥181,715,542.36, compared to a net inflow of ¥369,096,181.22 in the first three quarters of 2020[28]. - Total cash outflow from operating activities was ¥4,082,703,822.49, an increase from ¥3,446,241,275.43 in the same period of 2020[28]. - The company reported a decrease in research and development expenses to ¥38,686,689.58 from ¥51,402,501.85 in the previous year[24]. - The company's cash and cash equivalents decreased from CNY 1.304 billion at the end of 2020 to CNY 609.8 million by September 30, 2021[19]. - The total cash and cash equivalents at the end of Q3 2021 were CNY 527.05 million, down from CNY 713.67 million at the end of Q3 2020, reflecting a decrease of approximately 26% year-over-year[29]. - The company experienced a net cash outflow from financing activities of CNY 265.48 million in Q3 2021, contrasting with a net inflow of CNY 56.05 million in Q3 2020, highlighting a significant shift in financing dynamics[29]. - The company reported cash inflows from financing activities totaling CNY 246.82 million in Q3 2021, down from CNY 535.08 million in Q3 2020, indicating a decrease of about 54%[29]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 5,388,703,202.05, a decrease of 1.43% from the end of the previous year[6]. - The company's total assets as of September 30, 2021, were CNY 5.389 billion, a decrease from CNY 5.467 billion at the end of 2020[21]. - The company's total liabilities decreased from CNY 2.365 billion at the end of 2020 to CNY 2.131 billion by September 30, 2021[21]. - The company's total liabilities rose from CNY 2.36 billion at the end of 2020 to CNY 2.40 billion at the end of Q3 2021, indicating an increase of about 1.7%[34]. - The company's equity attributable to shareholders increased from CNY 2.85 billion at the end of 2020 to CNY 2.86 billion at the end of Q3 2021, reflecting a growth of approximately 0.6%[34]. Business Operations - The revenue from sanitation equipment was CNY 1.581 billion, a decline of 4.01% year-on-year[7]. - In the first three quarters of 2021, the company won 37 sanitation service projects with an annual contract value of CNY 456 million, totaling CNY 2.351 billion[14]. - As of the end of the reporting period, the company had a total annual contract value of CNY 3.662 billion in sanitation services, with a total contract amount of CNY 29.881 billion and a pending contract amount of CNY 20.576 billion[14]. - The total sales of sanitation equipment in the first three quarters of 2021 reached 5,393 units, with innovative and mid-to-high-end models accounting for 63.75% of total sales[16]. - The market share of the company's sanitation equipment was 5.61%, with innovative products and mid-to-high-end models at 9.92% and new energy sanitation vehicles at 7.44%, ranking third in the industry[15]. Investments and Projects - The company has invested CNY 316.49 million in the "Sanitation Equipment Comprehensive Configuration Service Project," which is still under construction[17]. - The company has completed the "Sanitation Service Research and Training Base Project" and the "Marketing Network Construction Project" funded by the 2016 private placement[17]. - In Q3 2021, the company reported a net cash outflow from investment activities of CNY 167.32 million, compared to a net outflow of CNY 152.64 million in Q3 2020, indicating a decline in investment cash flow[29]. - The company’s cash outflow for the acquisition of fixed assets, intangible assets, and other long-term assets was CNY 274.41 million in Q3 2021, compared to CNY 339.52 million in Q3 2020, showing a reduction of approximately 19%[29]. Regulatory and Compliance - The company has implemented new leasing standards starting from 2021, which may impact future financial reporting and asset management strategies[31].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 2,771,795,483.01, representing a year-on-year increase of 14.78%[19] - The net profit attributable to shareholders for the same period was CNY 211,122,645.62, an increase of 8.12% compared to the previous year[19] - The basic earnings per share rose to CNY 0.51, reflecting an increase of 8.51% year-on-year[21] - The diluted earnings per share also increased to CNY 0.51, consistent with the basic earnings per share growth[21] - The net profit growth was primarily driven by increased revenue from the sanitation industry operations[22] - The gross profit margin for the main business was 22.95%, a decrease of 3.89 percentage points year-on-year[39] - The revenue from the sanitation service business was 1.640 billion yuan, a year-on-year increase of 12.65%, accounting for 59.62% of the main business revenue[43] - The company reported a total of CNY 201.99 million in financial assets at the beginning of the period, which decreased to CNY 122.78 million by the end, resulting in a total decline of CNY 79.21 million[60] - The company reported a significant increase in total comprehensive income for the first half of 2021, reaching ¥145,438,876, compared to ¥70,869,010.63 in the same period of 2020[140] Cash Flow and Financial Position - The net cash flow from operating activities decreased to CNY -320,469,244.97, primarily due to increased payments for goods and employee compensation[22] - The company's cash and cash equivalents decreased by 48.85% to ¥666,974,172.66, down from ¥1,303,946,320.24 in the previous year[53] - The company’s cash flow from operating activities showed a net outflow of 320 million yuan, compared to a net outflow of 32 million yuan in the previous year[49] - The company reported a net cash flow from financing activities of -¥128,282,980.68, compared to a positive cash flow of ¥235,798,507.91 in the same period last year[144] - The ending balance of cash and cash equivalents was ¥567,167,926.53, slightly up from ¥512,108,854.37 at the end of the first half of 2020[144] - The company reported a significant increase in payments to employees, totaling 133,714,142.37 RMB, compared to 51,423,289.49 RMB in the same period of 2020[147] Market and Operational Strategy - The company aims to expand its market presence in the sanitation service sector, leveraging government policies promoting waste classification and environmental management[35] - The company has established a diverse sales model, primarily focusing on direct sales to government and sanitation service companies[28] - The company continues to enhance its core competitiveness through technological innovation and a comprehensive service network in both sanitation equipment and service operations[36] - The company is adapting its marketing strategies to improve customer experience and strengthen its brand influence in a competitive market[28] - The company plans to enhance its product development focusing on "lean, small, and intelligent" sanitation equipment[48] - The company is considering strategic acquisitions to enhance its market position, with potential targets identified in the industry[104] Environmental Compliance and Initiatives - The company has established environmental monitoring plans to ensure compliance with pollution discharge standards, with all facilities operating normally and meeting the required emission standards[83] - The company has implemented a comprehensive environmental impact assessment process for all projects, ensuring compliance with environmental regulations[84] - The company has developed an emergency response plan for environmental incidents, enhancing its ability to manage unexpected pollution events[85] - The company’s wastewater treatment facilities have been effective, with all wastewater meeting discharge standards before entering municipal sewage systems[82] - The company has established a smoke purification system and leachate treatment facilities, ensuring compliance with environmental discharge requirements[90] - The company has not faced any administrative penalties related to environmental issues during the reporting period[87] Risks and Challenges - The company faces market competition risks due to increasing participation from other enterprises in the sanitation service market, which may affect its market position and profitability[64] - The company is exposed to operational risks, including potential delays in raw material supply and price fluctuations, which could impact profitability[65] - The company may face adverse impacts on its operations if government fiscal policies tighten, affecting its revenue from sanitation services[66] - The company has a risk of labor disputes and challenges in workforce management due to high employee turnover in the labor-intensive sanitation service sector[66] Shareholder and Corporate Governance - The company did not propose any profit distribution or capital reserve transfer plans for the half-year period, with no dividends or stock bonuses planned[75] - The company held a shareholder meeting on April 29, 2021, to approve the 2020 annual report and other key resolutions[70] - The company reported no adverse effects on shareholder interests, particularly for minority shareholders, due to the termination of the A-share issuance[68] - The company has made commitments to avoid any form of competition with its own operations from major shareholders[106] - The company assures that all commitments made by its major shareholders are valid and will be upheld during their tenure[106] Accounting and Financial Reporting - The company adheres to the accounting standards, ensuring that the financial statements accurately reflect its financial position and operating results[171] - The company utilizes the Chinese Yuan (RMB) as its functional currency for accounting purposes[174] - The company applies the expected credit loss model for impairment measurement on financial assets measured at amortized cost and certain other financial instruments[186] - The company recognizes loss provisions for expected credit losses as either impairment losses or gains in the current period's profit and loss statement[188] - The company follows specific accounting standards for cash payments, equity securities issuance, debt restructuring, and non-monetary asset exchanges when determining initial investment costs[200]

证券代码：603686 证券简称：龙马环卫 公告编号：2021-051 福建龙马环卫装备股份有限公司 关于参加 2021 年度福建上市公司投资者 网上集体接待日活动的公告 | --- | |----------------------------------------------------------------| | | | | | 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误 | | 导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个 | | 别及连带责任。 | 重要内容提示： 会议类型：2021 年度福建上市公司投资者网上集体接待日 召开时间：2021 年 5 月 14 日（星期五）15:30-17:00 召开方式：网络在线交流 参与方式 ： 登 录 " 全 景 网 投 资 者 关 系 互 动 平 台 " （http://ir.p5w.net） 一、会议主题 为进一步加强与投资者的互动交流，使广大投资者能更深入全 面地了解福建龙马环卫装备股份有限公司（以下简称"公司"）情 况，本公司将参加由福建证监局与福建省上市公司协会、深圳市全 景网络有限公司举办的"2021 年度福建上 ...

Financial Performance - Operating revenue increased by 31.52% to CNY 1,394,996,801.42, driven by higher sales of equipment and sanitation services[10] - Net profit attributable to shareholders rose by 52.43% to CNY 119,373,751.85 compared to the same period last year[6] - The company's net profit for Q1 2021 was CNY 143,112,228.04, representing a 37.03% increase compared to the previous year[11] - Net profit for Q1 2021 reached CNY 143.11 million, up 37% from CNY 104.44 million in Q1 2020[28] - The total comprehensive income for Q1 2021 was CNY 143.11 million, compared to CNY 104.44 million in Q1 2020, indicating a strong performance[28] Assets and Liabilities - Total assets decreased by 3.85% to CNY 5,256,569,205.73 compared to the end of the previous year[6] - The company's total assets as of March 31, 2021, were CNY 5,256,569,205.73, a decrease from CNY 5,467,120,986.12 at the end of 2020[21] - Total liabilities decreased to ¥1,771,563,331.12 from ¥1,953,127,824.63 at the end of 2020, indicating improved financial stability[25] - The company's retained earnings as of March 31, 2021, were ¥1,161,469,902.58, slightly up from ¥1,155,009,491.34 at the end of 2020[26] - Shareholders' equity totaled CNY 3,102,422,463.84, a decrease of CNY 16,946,723.39 compared to the previous period[41] Cash Flow - Cash flow from operating activities showed an improvement, with a reduction in outflow to CNY -233,172,689.84 from CNY -242,295,843.05[6] - The cash inflow from operating activities totaled CNY 1.24 billion, compared to CNY 879.13 million in Q1 2020, showing a significant increase[32] - The net cash flow from operating activities was negative at CNY -233.17 million, slightly improved from CNY -242.30 million in Q1 2020[32] - The cash flow from financing activities showed a significant decrease of 141.16%, amounting to CNY -89,832,807.74, mainly due to the repayment of bank loans[11] - The company reported a total cash and cash equivalents net decrease of -488,018,254.02 RMB in Q1 2021[37] Shareholder Information - The number of shareholders reached 43,742, with the top ten shareholders holding a combined 52.10% of shares[8] - The company has repurchased a total of 4,188,060 shares, representing 1.01% of the total share capital, with a total transaction amount of CNY 74,988,650.00[16] Research and Development - Research and development expenses increased by 152.10% to CNY 14,760,408.78 due to higher investment in R&D[11] - Research and development expenses rose significantly to ¥14,760,408.78, compared to ¥5,854,891.65 in Q1 2020, marking a 151.5% increase[27] Market and Operations - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[10] - The total annualized contract amount for sanitation service projects reached CNY 35.30 billion, with a total contract amount of CNY 297.46 billion[12] - The total sales volume of sanitation equipment was 1,797 units, with innovative and mid-to-high-end models accounting for 66.44% of total sales[13] - The company has successfully taken over several sanitation service projects, including those in Jin'an District and Dongsheng District[12] Investment and Income - The company recorded a non-operating income of CNY 10,972,431.29, primarily from government subsidies and other income[6] - Investment income decreased by 49.89% to CNY 1,715,343.18, primarily due to reduced returns from bank wealth management products[11]

Financial Performance - The company's operating revenue for 2020 was CNY 5,443,356,242.64, representing a 28.75% increase compared to CNY 4,227,925,740.42 in 2019[20] - The net profit attributable to shareholders for 2020 was CNY 442,631,127.51, a 63.71% increase from CNY 270,370,386.99 in 2019[20] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 398,560,433.27, up 61.76% from CNY 246,385,727.12 in 2019[20] - The net cash flow from operating activities reached CNY 879,844,078.94, a significant increase of 172.25% compared to CNY 323,180,866.80 in 2019[20] - As of the end of 2020, the total assets amounted to CNY 5,467,120,986.12, reflecting a 20.43% increase from CNY 4,539,742,648.21 at the end of 2019[20] - The net assets attributable to shareholders at the end of 2020 were CNY 2,846,357,565.33, which is a 13.86% increase from CNY 2,499,958,318.48 in 2019[20] Dividend and Shareholder Returns - The company plans to distribute a cash dividend of CNY 3.80 per 10 shares (including tax) based on the total share capital as of the dividend record date[3] - The company acknowledges risks related to project revenue fluctuations influenced by external factors such as local government finances and labor costs[170] - The company has established a profit distribution plan for 2021-2023, allowing for cash, stock, or a combination of both for profit distribution[174] - The company plans to distribute at least 20% of its distributable profits as cash dividends annually over the next three years, prioritizing cash over stock dividends[174] Market and Business Strategy - The company aims to enhance its market presence by developing new business areas such as solid waste disposal and overseas operations[31] - The company has established a diverse sales model for sanitation equipment, focusing on direct sales and a multi-layered sales channel[32] - The company is actively expanding its sanitation service projects through competitive bidding and signing franchise agreements with local governments[33] - The company aims for a revenue target of 6.8 billion yuan and a net profit of 540 million yuan for 2021[150] - The company plans to enhance its product offerings in the solid waste disposal sector, focusing on organic waste, leachate, and sludge treatment technologies[148] Research and Development - The company has established various research and development centers, enhancing its competitive edge in the sanitation industry[52] - The company completed 64 high-tech research projects and achieved 372 product optimizations in 2020, with 88 new product announcements[76] - The company has a strong focus on technology and R&D, with key products holding independent intellectual property rights and several core technologies being domestically leading[160] - The company will continue to invest in R&D for new energy sanitation vehicles, including hydrogen fuel and plug-in hybrid models, in line with national policies[154] Operational Efficiency - The company has implemented a comprehensive marketing system to improve customer experience and brand influence in the sanitation equipment sector[32] - The company has implemented a development strategy focusing on "electrification, intelligence, and networking" in its sanitation equipment sector[58] - The company has implemented a comprehensive budget management system to enhance project management and cost control[83] - The company is committed to enhancing financial management and improving cash flow efficiency through stringent budget execution and receivables management[155] Risks and Challenges - The company faces risks related to raw material delivery and price fluctuations, particularly for chassis and steel, which could impact production schedules[158] - The company is at risk of increased market competition as more players enter the sanitation equipment industry, potentially affecting growth and profitability[156] - Changes in government fiscal policies could adversely affect the company's sanitation service operations and cash flow, as local governments are the primary clients[167] - The company acknowledges risks related to project revenue fluctuations influenced by external factors such as local government finances and labor costs[170] Market Trends and Government Policies - The demand for sanitation services is rapidly increasing due to the growing expectations of the population for improved living conditions and urban environmental hygiene[133] - Government investment in urban sanitation has increased significantly, from 5.75 billion yuan in 2001 to 68.46 billion yuan in 2019, reflecting a compound annual growth rate of 14.75%[134] - The implementation of the National Six Emission Standards for light-duty vehicles starting July 1, 2020, aims to enhance environmental protection and promote the use of new energy vehicles in sanitation services[130] - The government aims for 20% of new car sales to be new energy vehicles by 2025, promoting a shift towards sustainable transportation solutions in urban sanitation[130] Corporate Governance - The company emphasizes the importance of independent directors in the profit distribution decision-making process, ensuring compliance with legal and regulatory requirements[176] - The company will review its profit distribution plan at least every three years, considering feedback from independent directors and minority shareholders[175] - Major shareholders have committed to not engaging in any competitive business activities that may harm the company's interests, ensuring no conflicts of interest arise[185] Employee and Community Engagement - The company donated 18 sanitation vehicles and provided 5 million RMB worth of pandemic prevention materials during the COVID-19 outbreak[91] - The company maintained a zero infection rate among its employees during the pandemic, ensuring all projects operated normally[91] - The employee stock ownership plan extracted a performance incentive fund totaling CNY 5,900,363.35, which does not exceed 15% of the company's net profit attributable to shareholders for 2019[193]

Financial Performance - Net profit attributable to shareholders rose by 66.04% year-on-year, amounting to RMB 330.82 million[8] - Operating revenue for the period was RMB 3.90 billion, a year-on-year increase of 28.82%[6] - The sanitation service business revenue grew by 78.33%, contributing 57.38% to total operating revenue[7] - The company reported a basic earnings per share of RMB 0.80, up 66.67% from RMB 0.48[6] - The company reported a net profit margin improvement, with retained earnings rising to ¥1,278,972,751.91 from ¥1,031,281,547.78, an increase of about 24%[25] - The company achieved a total net profit of ¥406,893,120.88 for the first three quarters of 2020, compared to ¥216,290,849.44 in the same period of 2019, indicating an increase of 88%[32] - The company reported a total profit of ¥185,631,213.07 for Q3 2020, compared to ¥103,081,349.92 in Q3 2019, marking an increase of 80%[32] Asset and Liability Management - Total assets increased by 16.96% year-on-year, reaching RMB 5.31 billion[6] - Current liabilities rose to ¥2,163,312,881.66, compared to ¥1,856,903,939.35, reflecting an increase of about 16.4%[25] - Non-current liabilities increased significantly to ¥181,115,131.02 from ¥35,108,642.48, marking a rise of approximately 415.5%[25] - Total liabilities reached ¥1,892,012,581.83, with non-current liabilities at ¥35,108,642.48[47] - The total liabilities and shareholders' equity combined also equaled ¥4,539,742,648.21, confirming the balance sheet integrity[47] Cash Flow and Investments - Cash flow from operating activities turned positive, with a net amount of RMB 369.10 million compared to a negative RMB 326.58 million in the previous year[6] - The company’s cash and cash equivalents increased by 53.75% to RMB 824.82 million, driven by improved cash collection[12] - The company reported a significant increase in cash received from sales, totaling approximately ¥3.69 billion for the first three quarters of 2020, compared to ¥2.86 billion in the same period of 2019, an increase of about 28.8%[40] - The company experienced a net cash outflow from investing activities of ¥7,856,843.79 in the first nine months of 2020, a decrease from a net inflow of ¥126,631,478.37 in the same period of 2019[43] - The company’s investment activities resulted in a net cash outflow of CNY 152,640,646.38, mainly due to increased investments in fixed assets and financial products[13] Market Position and Growth - The total number of sanitation service projects won by the company in the first three quarters of 2020 was 30, with an annualized contract amount of CNY 6.32 billion, and a total contract amount of CNY 23.51 billion[15] - The company's market share in the sanitation equipment sector was 5.16% for the first three quarters of 2020, with a market share of 10.98% for innovative and high-end operational models, ranking third in the industry[19] - The company plans to expand its market presence and invest in new technologies to drive future growth[25] Research and Development - Research and development expenses for Q3 2020 totaled ¥22,432,800.47, a 67% increase from ¥13,434,712.08 in Q3 2019[30] - Research and development expenses in Q3 2020 were ¥22.18 million, up from ¥13.43 million in Q3 2019, reflecting a growth of about 64.9%[36] Operational Efficiency - The gross profit margin for the sanitation service business improved by 5.26 percentage points to 25.34%[7] - The company's cash flow from operating activities for Q3 2020 was CNY 369,096,181.22, reflecting improved management of accounts receivable[13] - The company's long-term borrowings increased by 940.01% to CNY 161,545,372.27, mainly due to increased borrowings by project subsidiaries[13]