Financial Performance - The company's operating revenue for Q1 2022 was ¥535,318,288.08, a decrease of 1.09% compared to ¥539,042,149.05 in the same period last year[6] - Net profit attributable to shareholders was ¥127,940,169.83, representing a decline of 36.38% from ¥199,150,010.52 year-on-year[6] - The net profit after deducting non-recurring gains and losses was ¥126,735,004.64, down 35.17% from ¥193,529,950.91 in the previous year[6] - The basic earnings per share decreased by 42.42% to ¥0.19 from ¥0.32 in the same period last year[9] - The decline in net profit was attributed to lower wind resource availability and increased costs in biomass fuel procurement due to the pandemic[15] - In Q1 2022, the company generated a total electricity output of 849 million kWh, a decrease of 10.30% year-on-year, and grid-connected electricity of 820 million kWh, down 9.82% year-on-year[21] - The decline in performance was primarily due to poor wind resources, with onshore wind power generation dropping by 28.39% compared to the same period last year[21] - Total revenue for Q1 2022 was CNY 535,318,288.08, a decrease of 1.3% from CNY 541,215,067.34 in Q1 2021[29] - Operating profit for Q1 2022 was CNY 187,820,762.82, down 30.6% from CNY 270,834,172.96 in Q1 2021[33] - Net profit for Q1 2022 was CNY 160,246,302.03, a decrease of 32.0% compared to CNY 235,562,252.75 in Q1 2021[33] - Total comprehensive income for the first quarter of 2022 was CNY 160,250,056.54, a decrease of 31.8% compared to CNY 235,019,423.64 in the first quarter of 2021[35] Assets and Liabilities - Total assets at the end of the reporting period were ¥15,989,998,522.83, an increase of 1.16% from ¥15,804,483,650.40 at the end of the previous year[9] - Current liabilities decreased to CNY 2,482,814,674.19 from CNY 2,952,799,204.73, a reduction of 15.9%[29] - Long-term borrowings rose to CNY 3,630,306,157.53 from CNY 3,157,174,032.08, an increase of 15.0%[29] - The company's total equity rose to CNY 4,671,906,209.62, an increase from CNY 4,644,144,746.46, indicating a growth of about 0.6%[45] - The total liabilities remained stable at CNY 8,868,081.89, compared to CNY 9,140,284.21 in the previous year, indicating a decrease of about 2.97%[43] Cash Flow - The net cash flow from operating activities was ¥157,409,104.25, a decrease of 17.43% compared to ¥190,644,000.67 in the previous year[9] - Cash outflow from operating activities totaled CNY 208,715,191.40, an increase of 9.5% compared to CNY 190,431,667.31 in the first quarter of 2021[38] - Cash and cash equivalents at the end of the period amounted to CNY 1,219,487,737.21, an increase from CNY 1,056,163,184.32 at the end of 2021[40] - The company reported cash outflows for the acquisition of fixed assets and other long-term assets totaling $1,495,886.00, a significant increase from $27,000.00 previously[48] - The net increase in cash and cash equivalents for the period was -$18,190,919.18, compared to -$142,134,356.39 in the previous period, suggesting improved cash management[48] Shareholder Information - The company had a total of 35,743 common shareholders at the end of the reporting period[16] - Jiangsu Guoxin Group Co., Ltd. held 57.27% of the shares, making it the largest shareholder[16] - The company plans to implement a share buyback program with a total investment of no less than 250 million RMB and no more than 500 million RMB, starting from April 26, 2022[22] - The company’s major shareholder, Jiangsu Guoxin Group, has a plan to increase its stake in the company, which may positively influence market confidence[22] Operational Challenges - The company reported an increase in operating costs for biomass projects due to high fuel prices and difficulties in procurement, leading to reduced revenue and profit from these projects[21] - The company has four biomass projects, with one currently suspended due to the exhaustion of reasonable utilization hours, impacting overall project profitability[21] - The company’s stock performance and market trends will be closely monitored as it navigates through the challenges posed by fluctuating wind resources and rising fuel costs[21] Research and Development - Research and development expenses for Q1 2022 were CNY 44,938.32, significantly lower than CNY 507,295.62 in Q1 2021[33] - Research and development expenses for Q1 2022 were CNY 44,938.32, a decrease from CNY 507,295.62 in Q1 2021, showing a reduction of approximately 91.16%[45] Investment Income - The company reported investment income of CNY 24,752,000.00 in Q1 2022, compared to CNY 91,038.35 in Q1 2021[33] - The company reported investment income of CNY 38,179,830.46 for Q1 2022, significantly higher than CNY 11,850,062.18 in Q1 2021, marking an increase of approximately 221.5%[45] Accounting Standards - The company is adapting to new accounting standards starting from 2022, which may impact future financial reporting[50]

Financial Performance - The company's operating revenue for 2021 was ¥1,856,720,177.13, representing a year-on-year increase of 20.04% compared to ¥1,546,722,242.92 in 2020[26]. - The net profit attributable to shareholders for 2021 was ¥306,799,683.98, a significant increase of 99.59% from ¥153,717,843.88 in 2020[26]. - The net cash flow from operating activities for 2021 was ¥762,914,483.20, showing a decrease of 5.91% compared to ¥810,795,432.63 in 2020[26]. - The total assets at the end of 2021 reached ¥15,804,483,650.40, which is a 40.93% increase from ¥11,214,134,348.09 at the end of 2020[26]. - The company's net assets attributable to shareholders increased by 21.69% to ¥5,662,143,926.64 at the end of 2021, up from ¥4,652,752,509.11 at the end of 2020[26]. - The basic earnings per share for 2021 was ¥0.49, reflecting a 96.00% increase from ¥0.25 in 2020[26]. - The company reported total operating revenue of 1.857 billion yuan, a year-on-year growth of 20.04%, and a net profit attributable to shareholders of 307 million yuan, up 99.59%[40]. - The company’s total electricity generation increased by 21.73% to 320,865 MWh, with wind power generation rising by 51.61% to 262,863 MWh[112]. - The company reported a total revenue of 1.2 billion yuan for the fiscal year, representing a year-over-year increase of 15%[194]. Dividend and Capital Plans - The company plans to distribute a cash dividend of 1 RMB per 10 shares and to increase capital by 3 shares for every 10 shares held, pending shareholder approval[7]. - The board approved a dividend payout of 0.5 yuan per share, reflecting a commitment to returning value to shareholders[194]. Audit and Governance - The company reported a standard unqualified audit opinion from Suya Jin Cheng Accounting Firm[6]. - The board of directors confirmed that all members attended the meeting, ensuring the accuracy and completeness of the annual report[5]. - The company is focused on enhancing governance with the election of independent directors and supervisors[195]. - The management changes are part of a broader strategy to strengthen leadership and operational efficiency[195]. Operational Strategy and Development - The company emphasizes the importance of renewable energy sources, including wind, solar, and biomass energy, in its operational strategy[18]. - The company has outlined its future development strategies and potential risks in the management discussion section of the report[10]. - The company is committed to achieving a non-fossil energy consumption ratio of around 20% by 2025 and 25% by 2030, in line with national carbon neutrality goals[142]. - The company plans to accelerate the development of new wind and solar projects during the 14th Five-Year Plan period, further reducing the influence of biomass power generation[155]. Renewable Energy Projects - The company achieved a total installed capacity of 1.55 million kW, with the first offshore wind power project fully connected to the grid[37]. - Wind power generation reached 2.629 billion kWh, a year-on-year increase of 51.61%, with a gross profit margin of 67.12%, up 7.64 percentage points from the previous year[38][39]. - The company’s renewable energy projects include wind, biomass, and solar power, with a focus on project development, construction, and operation[65]. - The company is exploring new energy development opportunities in offshore wind, solar thermal, geothermal, and marine energy sectors[142]. Risks and Challenges - There were no significant risks identified that could materially affect the company's operational development during the reporting period[10]. - The company faces risks related to delayed renewable energy price subsidies, which could negatively impact cash flow if not resolved[151]. - The company acknowledges the risk of declining revenues from biomass projects as they approach the end of their subsidy eligibility, planning strategic shutdowns to optimize asset allocation[155]. Research and Development - The company’s research and development expenses increased by 335.82% to 2.25 million yuan, reflecting a focus on new project development[73]. - The company plans to invest 100 million RMB in research and development for innovative energy solutions[180]. - The company is investing RMB 50 million in R&D for new technologies in energy efficiency and storage solutions[183]. Market Position and Customer Engagement - The total revenue from the top five customers amounted to 182,561.12 million RMB, accounting for 98.33% of the annual total sales[89]. - User data shows a 20% increase in customer engagement compared to the previous year[180]. - The company is focusing on expanding its market presence and developing new technologies in the renewable energy sector[180]. Management and Board Activities - The company held its 2021 Annual General Meeting on May 24, 2021, where 27 proposals were approved without any rejections[171]. - The company appointed Chen Li as the new General Manager, Feng Chunsheng as the Deputy General Manager, and Zhang Ying as the Chief Financial Officer following the resignation of previous executives[187]. - The company has undergone a significant management restructuring with the election of new board members and supervisors[187].

Financial Performance - The company's operating revenue for Q3 2021 was ¥405,925,091.49, representing a year-on-year increase of 23.98%[7] - The net profit attributable to shareholders for Q3 2021 was ¥90,628,852.88, an increase of 86.01% compared to the same period last year[7] - The basic earnings per share for Q3 2021 was ¥0.15, reflecting an increase of 87.50% year-on-year[9] - The total profit amounted to RMB 539.57 million, reflecting a year-on-year growth of 18.71%[18] - The net profit attributable to shareholders was RMB 390.83 million, which is an increase of 11.43% year-on-year[18] - The total profit for the period was approximately ¥539.57 million, an increase from ¥454.53 million in the previous year, representing a growth of about 18.7%[36] - Net profit attributable to shareholders of the parent company reached ¥390.83 million, up from ¥350.75 million, reflecting a year-over-year increase of approximately 11.4%[36] - Basic earnings per share increased to ¥0.63 from ¥0.57, marking an increase of about 10.5%[38] Assets and Liabilities - The total assets at the end of the reporting period were ¥13,681,286,738.80, a 22.00% increase from the end of the previous year[9] - As of September 30, 2021, the company's total current assets amounted to RMB 3,222.28 million, compared to RMB 2,891.54 million at the end of 2020[23] - Non-current assets totaled ¥10,459,002,199.56, up from ¥8,322,597,365.79, marking an increase of 25.69%[28] - Total assets increased to ¥13,681,286,738.80 from ¥11,214,134,348.09, representing a growth of 22.00%[28] - Current liabilities rose to ¥1,837,183,719.83, compared to ¥1,588,517,667.22, an increase of 15.65%[28] - Long-term borrowings increased to ¥3,126,154,296.49 from ¥2,857,396,746.36, showing a growth of 9.39%[28] - The total liabilities increased to ¥8,119,058,362.16 from ¥6,055,563,244.85, reflecting a rise of 34.06%[28] - The company's equity attributable to shareholders rose to ¥4,950,755,104.23 from ¥4,652,752,509.11, an increase of 6.43%[28] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥510,588,386.67, showing a 2.58% increase[9] - Cash flow from operating activities generated a net amount of ¥510.59 million, compared to ¥497.77 million in the same period last year, indicating a growth of approximately 2.6%[40] - Cash inflow from investment activities totaled approximately ¥1.00 billion, while cash outflow was about ¥2.03 billion, resulting in a net cash flow from investment activities of approximately -¥1.03 billion[40] - The company reported cash and cash equivalents at the end of the period amounting to approximately ¥1.08 billion, a decrease from ¥1.23 billion year-over-year[40] - The company received cash from financing activities totaling approximately ¥1.48 billion, compared to ¥1.23 billion in the previous year, indicating an increase of about 20.5%[40] - The net cash flow from financing activities was approximately ¥586.46 million, down from ¥804.39 million in the previous year, reflecting a decrease of about 27.1%[40] Operational Highlights - The company has seen an increase in installed capacity and power generation from wind projects due to favorable wind conditions, contributing to the profit growth[12] - In the first three quarters of 2021, the company generated a total electricity output of 2.382 billion kWh, representing a year-on-year increase of 16.82%[18] - The company's revenue for the first nine months of 2021 reached RMB 1,360.58 million, an increase of 14.28% compared to the previous year[18] - The gross profit margin improved to 51.41%, up by 8.24 percentage points year-on-year[18] - The company is advancing the construction of the H2 offshore wind power project, with 64 wind turbines installed and the first three turbines already connected to the grid[19] - The company completed significant milestones in its construction projects, including the laying of the first 220kV submarine cable and the installation of the offshore booster station[19] Shareholder Information - The company reported a total of 36,563 common shareholders at the end of the reporting period[13] Government Support - The company received government subsidies amounting to ¥5,137,350.44 year-to-date, which are closely related to its normal business operations[9] Changes in Financial Standards - The implementation of the new leasing standard resulted in adjustments to the financial statements, effective from January 1, 2021[48] - The company has not made adjustments to the 2020 year-end financial statements despite the new leasing standard implementation[48]

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion CNY for the first half of 2021, representing a year-on-year growth of 25%[17]. - The company's operating revenue for the first half of 2021 was RMB 954,656,975.08, representing a 10.60% increase compared to RMB 863,195,728.10 in the same period last year[22]. - The net profit attributable to shareholders for the same period was RMB 300,200,748.17, showing a slight decrease of 0.61% from RMB 302,032,310.73 year-on-year[22]. - The total profit for the period was CNY 409.36 million, up 4.94% year-on-year, while the net profit attributable to shareholders decreased by 0.61% to CNY 300.20 million[43]. - The gross profit margin improved to 53.87%, an increase of 5.19 percentage points compared to the same period last year[43]. - The net cash flow from operating activities increased by 21.18% to RMB 362,612,817.16, compared to RMB 299,239,603.67 in the previous year[22]. - The company's total assets at the end of the reporting period reached RMB 12,707,931,887.50, a 13.32% increase from RMB 11,214,134,348.09 at the end of the previous year[22]. - The company's asset-liability ratio was 57.36% at the end of the reporting period, indicating strong solvency[40]. - The company's retained earnings increased to CNY 995,162,134.63, up from CNY 787,661,386.46, representing a growth of about 26.4%[163]. Market Expansion and Development - User data indicates that the company has expanded its customer base by 15%, reaching a total of 500,000 active users by June 2021[17]. - The company has set a future outlook with a revenue target of 2.5 billion CNY for the full year 2021, which would represent a 20% increase compared to 2020[17]. - The company is actively pursuing market expansion, with plans to enter two new provinces by Q4 2021, aiming for a 10% market share in those regions[17]. - New product development includes the launch of a solar energy solution expected to contribute an additional 200 million CNY in revenue by the end of 2021[17]. - The company is actively involved in the development and operation of renewable energy projects, including wind, biomass, and photovoltaic power generation[28]. - The company is focusing on expanding its market presence and enhancing its operational efficiency through strategic project development and management[28]. - The company is actively pursuing project resources, focusing on competitive configurations for offshore wind and distributed rooftop solar projects, and has received approval for a 40% equity acquisition of Datang Binhai[44]. Research and Development - The company has allocated 150 million CNY for research and development in renewable energy technologies for the year 2021[17]. - Research and development expenses increased to ¥1,118,264.66 from ¥55,199.54, marking a substantial rise of 1,925.5%[173]. - The company is exploring new fields such as energy microgrids, energy storage, and distributed wind power to diversify project types and mitigate risks from subsidy policy changes[72]. Environmental Compliance and Sustainability - The company’s biomass power generation subsidiaries are classified as key pollutant discharge units and comply with national standards for pollutant emissions[101]. - The company reported specific pollutant emissions from its biomass power generation subsidiaries, including SO₂, NOx, and smoke dust, with total emissions meeting regulatory standards[102]. - The company has established pollution prevention facilities in accordance with national and local requirements, ensuring compliance with emission standards[104]. - All construction projects of the company's biomass power generation subsidiaries have passed environmental impact assessments and obtained discharge permits[105]. - The company has developed emergency response plans for environmental incidents and has reported them to the environmental protection bureau[108]. - The company has implemented online monitoring of pollutant emissions as per regulatory requirements[109]. - The company has adhered to environmental laws and regulations, with no pollution incidents reported in its wind and solar power operations[109]. Risks and Challenges - There are no significant risks identified that could adversely affect the company's strategic goals or operational targets for the upcoming year[8]. - The company faces risks from delayed renewable energy price subsidies, which could impact cash flow and investment returns[67]. - The company is at risk of declining grid connection prices, which could affect profitability if costs do not decrease correspondingly[73]. - The profitability of wind and solar projects is highly dependent on local climate conditions, which are unpredictable and can lead to fluctuations in operational performance[78]. - The company is preparing for potential changes in national policies that could adversely affect operational performance in the renewable energy sector[68]. - The company is taking measures to minimize the risk of electricity curtailment by conducting strict site evaluations for new projects[81]. Corporate Governance and Management - The board of directors has confirmed that all financial reports are accurate and complete, ensuring transparency for investors[4]. - The company has experienced changes in its management team, with new appointments for the roles of General Manager, Deputy General Manager, and Chief Financial Officer[86]. - The company has appointed new members to the board and supervisory committee, including Xu Guoqun as the chairman of the third board[91]. - The company did not distribute or increase shares during the reporting period[92]. - The company has not reported any significant litigation or arbitration matters during the reporting period[121]. Related Party Transactions - The company reported a total revenue of 72 million yuan from related party transactions, accounting for 35.13% of similar transaction amounts[122]. - The company has engaged in leasing office buildings from Guoxin Group, with a transaction amount of 720,000 yuan[122]. - The company has also procured medical products from a subsidiary of Guoxin Group, amounting to 70,300 yuan[122]. - The company has accepted labor services from a subsidiary of Guoxin Group, with a transaction value of 70,800 yuan[122]. - The company has outlined future plans to resolve outstanding commitments related to competition avoidance[113].

Financial Performance - The company's operating revenue for 2020 was CNY 1,546,722,242.92, representing a 4.20% increase compared to CNY 1,484,404,012.94 in 2019[23]. - The net profit attributable to shareholders for 2020 decreased by 39.47% to CNY 153,717,843.88 from CNY 253,953,179.50 in 2019[23]. - The net cash flow from operating activities increased by 56.69% to CNY 810,795,432.63 in 2020, up from CNY 517,439,515.13 in 2019[23]. - Total assets grew by 34.43% to CNY 11,214,134,348.09 at the end of 2020, compared to CNY 8,342,125,519.19 at the end of 2019[23]. - Basic earnings per share for 2020 were CNY 0.25, down 39.02% from CNY 0.41 in 2019[24]. - The weighted average return on equity decreased to 3.33% in 2020, down from 5.61% in 2019, a reduction of 2.28 percentage points[24]. - Non-recurring gains and losses for 2020 amounted to CNY 6,815,463.13, compared to CNY 7,889,216.11 in 2019[30]. - The gross profit margin improved to 39.91%, an increase of 1.22 percentage points year-on-year[53]. - The company's asset-liability ratio at the end of the reporting period was 54%, indicating strong debt repayment capability[48]. Dividend Distribution - The company plans to distribute a cash dividend of 1.5 CNY per 10 shares, totaling approximately 92.7 million CNY based on a total share capital of 61.8 million shares as of December 31, 2020[5]. - The company has not proposed any stock dividend distribution or capital reserve transfer to increase share capital for this reporting period[5]. - The company distributed cash dividends of 92.7 million RMB to shareholders for the 2020 fiscal year, with a proposed distribution of 0.15 RMB per share for 2021[141]. Operational Efficiency - The average utilization hours of the company's power generation equipment during the reporting period are not specified but are critical for assessing operational efficiency[12]. - The company monitors project operations and conducts performance assessments for its subsidiaries to ensure operational efficiency[34]. - The company is committed to enhancing operational efficiency to maximize output under existing resource conditions[107]. Renewable Energy Focus - The company emphasizes the importance of renewable energy sources, including wind and solar power, in its operational strategy[12]. - The company's main business involves investment, development, and operation of renewable energy projects, including wind power (996 MW), biomass power (115 MW), and solar power (92 MW), with a total installed capacity of 1,206 MW as of the end of 2020[33]. - The company is currently constructing an offshore wind power project with a capacity of 350 MW[33]. - The company plans to explore new directions such as energy storage and BIPV for business innovation[56]. - The company is focusing on the development of energy storage and microgrid technologies to enhance power system stability and consumption capacity[94]. Market and Growth Opportunities - The Chinese government aims for carbon emissions to peak by 2030 and achieve carbon neutrality by 2060, presenting significant growth opportunities for the renewable energy sector[35]. - By the end of 2020, China's installed capacity for wind power reached 281 million kW and solar power reached 253 million kW, indicating a need for an additional 666 million kW of capacity to meet the 2030 target[35]. - The company aims to expand its market share in renewable energy generation through self-development and mergers and acquisitions, focusing on microgrids, energy storage, and new energy hydrogen production[96]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by 2025[175]. Risk Management - The company has not identified any significant risks that could materially impact its operational development during the reporting period[7]. - The company’s future plans and strategic developments are subject to investment risks, and no substantial commitments are made to investors[6]. - The company faces risks related to delayed renewable energy price subsidies, which could impact cash flow and investment returns[99]. - The company is actively managing risks associated with declining grid-connected electricity prices and the potential impact on project profitability[104]. Corporate Governance - The company has engaged Suya Jincheng Accounting Firm for auditing services, with a fee of 1.62 million RMB for the 2020 financial report, compared to 1.48 million RMB for the previous year[123]. - The company has established long-term commitments regarding the elimination of competition with its controlling shareholder, Guoxin Group[119]. - The company maintains independence from its controlling shareholder in terms of assets, personnel, and operations[193]. - The total remuneration for the board of directors and senior management during the reporting period amounted to 308.45 million RMB[173]. Environmental Compliance - The company has complied with all environmental regulations, with no pollution incidents reported during the reporting period[153]. - All biomass power generation companies under the company have established pollution prevention facilities in accordance with national and local requirements[150]. - The company has developed emergency response plans for environmental incidents and submitted them for record to the environmental protection bureau[151]. Research and Development - The total R&D expenditure was CNY 516,130.60, accounting for only 0.03% of total revenue, with three R&D personnel[69]. - The company plans to enhance R&D investment, particularly in "new energy + blockchain" and digital smart wind farms[97]. - The company has allocated 100 million yuan for research and development in new technologies for renewable energy[175]. Subsidiary Performance - The company's net profit from the subsidiary Linhai Wind Power in 2020 was CNY 157.20 million, with a cost of CNY 61.11 million[92]. - Huanghai Wind Power reported a 2020 revenue of CNY 163.59 million and a cost of CNY 68.62 million[92]. - The total revenue from the subsidiary Dazhong Wind Power in 2020 was CNY 122.07 million, with a cost of CNY 36.70 million[92].

Financial Performance - Operating revenue for Q1 2021 reached CNY 539,042,149.05, a growth of 22.78% year-on-year[17] - Net profit attributable to shareholders was CNY 199,150,010.52, reflecting a 6.31% increase from the same period last year[17] - The company reported a 119.10% increase in cash paid for the acquisition of fixed assets, totaling ¥566,231,666.54, indicating increased investment in construction projects[31] - Net profit for Q1 2021 reached RMB 233,406,536.73, compared to RMB 217,870,438.00 in Q1 2020, representing an increase of 7.1%[59] - The total comprehensive income for Q1 2021 was RMB 232,863,707.62, compared to RMB 218,204,654.26 in Q1 2020, showing a growth of 6.8%[59] - The company achieved a total profit of CNY 7,138.05 million in Q1 2021, down 35.4% from CNY 11,029.80 million in Q1 2020[66] Cash Flow and Liquidity - The company generated a net cash flow from operating activities of CNY 190,644,000.67, up by 4.53% year-on-year[17] - Cash received from operating activities increased by 224.39% to ¥9,097,528.11, reflecting higher interest income[31] - The net cash flow from financing activities increased by 395.45% to ¥424,383,478.02, driven by increased loan acquisition[31] - The net cash flow from operating activities for Q1 2021 was -6,335,015.28 CNY, compared to -5,870,064.97 CNY in Q1 2020, indicating a decline in operational cash flow[70] - The cash inflow from operating activities was significantly lower than the cash outflow, indicating potential challenges in maintaining operational liquidity[70] Assets and Liabilities - Total assets increased by 9.00% to CNY 12,223,782,097.58 compared to the end of the previous year[17] - Total liabilities amounted to ¥6,832,347,286.72, an increase from ¥6,055,563,244.85, which is a rise of about 12.8%[46] - Current assets increased to ¥3,189,479,250.41 as of March 31, 2021, up from ¥2,891,536,982.30 on December 31, 2020, representing a growth of approximately 10.3%[41] - Non-current assets totaled ¥9,034,302,847.17 as of March 31, 2021, compared to ¥8,322,597,365.79 at the end of 2020, indicating an increase of about 8.6%[44] - The company's cash and cash equivalents were ¥1,076,025,532.28 as of March 31, 2021, compared to ¥1,026,687,528.89 a year earlier, showing an increase of approximately 4.8%[41] Investment and R&D - R&D expenses amounted to ¥507,295.62, marking a significant investment in innovation[28] - The company plans to acquire a 40% stake in Datang Guoxin Binhai Offshore Wind Power Co., Ltd. from its controlling shareholder, Guoxin Group, through a share issuance[33] - Research and development expenses for Q1 2021 were RMB 507,295.62, reflecting ongoing investment in innovation[57] Shareholder Information - The number of shareholders at the end of the reporting period was 31,577[19] - The company's retained earnings rose to ¥986,811,396.98 from ¥787,661,386.46, indicating an increase of about 25.3%[46] - Total equity attributable to shareholders reached approximately ¥4.65 billion, remaining unchanged from the previous reporting period[77] Government Support and Taxation - The company received government subsidies amounting to CNY 4,710,831.70 during the reporting period[17] - The company's tax expenses rose by 36.27% to ¥35,566,801.39, as subsidiaries began paying corporate income tax after tax exemption periods ended[28] - The company's tax expenses for Q1 2021 were CNY 1,699.49 million, down from CNY 2,761.26 million in Q1 2020, indicating a reduction in tax liabilities[66] Operational Metrics - The total electricity generated by controlled renewable energy projects was 946 million kWh, an increase of 24.05% year-on-year[23] - The on-grid electricity volume reached 910 million kWh, marking a 24.79% increase compared to the previous year[23] - The company's installed capacity increased due to the commissioning of new wind power projects in December 2020[23]

Financial Performance - Net profit attributable to shareholders of the listed company for the first three quarters was ¥350,754,484.74, representing an increase of 82.81% year-on-year[17]. - Operating revenue for the first three quarters was ¥1,190,603,306.95, up 10.20% from the same period last year[17]. - The net cash flow from operating activities for the first three quarters was ¥497,769,509.41, an increase of 28.32% year-on-year[17]. - The basic earnings per share for the reporting period was ¥0.57, an increase of 83.87% compared to the previous year[17]. - The company’s weighted average return on equity increased by 3.14 percentage points to 7.39%[17]. - The company’s net profit attributable to shareholders increased by 82.81% to ¥350,754,484.74, driven by increased installed capacity and lower fuel costs[31]. - The company reported a 53.11% increase in tax refunds received, totaling ¥41,394,186.83, due to increased VAT refunds[31]. - The total comprehensive income for the first three quarters of 2020 was CNY 313,709,920.06, compared to CNY 286,255,920.74 in the same period of 2019, reflecting an increase of approximately 9.5%[74]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥10,319,215,817.90, an increase of 23.70% compared to the end of the previous year[17]. - The company's total liabilities increased to CNY 4,925,598,276.92 from CNY 3,280,071,210.29, marking a rise of about 50.1%[49]. - Long-term borrowings rose by 37.55% to ¥2,842,691,135.82, reflecting new external bank loans[28]. - The company's equity attributable to shareholders reached CNY 4,850,391,339.68, compared to CNY 4,592,788,646.32 in the previous year, showing an increase of about 5.6%[49]. - The company’s contract assets amounted to ¥1,238,211,438.72, with no prior year comparison available due to reclassification[28]. - The company reported a decrease in inventory from CNY 45,676,246.19 in 2019 to CNY 34,448,785.92, a decline of approximately 24.5%[43]. - The company’s accounts receivable decreased significantly from CNY 1,142,961,873.12 to CNY 116,229,011.91, a drop of about 89.8%[43]. Cash Flow - The company’s cash and cash equivalents increased by 59.11% to ¥1,249,023,714.19 due to new external bank loans[28]. - Cash inflow from operating activities totaled CNY 1,230,599,172.80, up from CNY 1,003,443,111.61 in the previous year, representing a growth of about 22.6%[76]. - The net cash flow from financing activities was CNY 804,392,962.24, compared to negative CNY 331,664,483.48 in the same period last year, indicating a turnaround[81]. - The ending balance of cash and cash equivalents was CNY 1,232,956,723.18, compared to CNY 982,420,402.91 at the end of the same period last year, reflecting an increase of approximately 25.5%[80]. - The company received CNY 1,160,000,000.00 from the recovery of investments, down from CNY 2,340,000,000.00 in the previous year, representing a decrease of about 50.5%[77]. Research and Development - Research and development expenses decreased by 98.75% to ¥87,379.25, indicating a significant reduction in R&D investment[28]. - Research and development expenses for Q3 2020 were CNY 32,179.71, a substantial decrease from CNY 1,906,108.96 in Q3 2019[58]. - The company reported a significant increase in research and development expenses, totaling approximately ¥32.18 million, compared to ¥14.35 million in the previous quarter, marking an increase of about 124%[68]. Strategic Initiatives - The company plans to transfer all shares of a subsidiary to eliminate potential competition, with a commitment to complete the transfer within 24 months[36]. - The company is actively pursuing research and evaluation for a share transfer plan, which may impact future financial performance and market positioning[38]. - The company plans to focus on market expansion and new product development in the upcoming quarters[58]. Operational Metrics - The total electricity generation from controlled renewable energy projects was 2.039 billion kWh, a year-on-year increase of 12.09%[25]. - The on-grid electricity volume for the first three quarters was 1.936 billion kWh, an increase of 12.38% year-on-year[25]. - The company’s biomass power generation project profits increased year-on-year due to lower fuel acquisition prices and better quality[26].

Financial Performance - The company reported a total revenue of 1.2 billion RMB for the first half of 2020, representing a year-on-year increase of 15%[21]. - The net profit attributable to shareholders was 200 million RMB, an increase of 10% compared to the same period last year[21]. - The company's operating revenue for the first half of the year reached ¥863,195,728.10, representing a 16.60% increase compared to ¥740,308,884.26 in the same period last year[24]. - Net profit attributable to shareholders was ¥302,032,310.73, a significant increase of 116.51% from ¥139,498,827.57 year-on-year[24]. - The total profit for the period was 390.09 million yuan, representing a year-on-year growth of 105.74%[47]. - The company's gross profit margin was 48.68%, an increase of 8.35 percentage points compared to the same period last year[47]. - The company achieved a net profit of 302.03 million yuan in the first half of the year, which is an increase of 57.41% compared to the cumulative net profit for the same period last year[72]. - The company reported a basic earnings per share of ¥0.49, up from ¥0.23 in the previous year, reflecting improved profitability[152]. - The comprehensive income total for the first half of 2020 was ¥349,133,109.33, compared to ¥165,862,951.47 in the same period of 2019, representing a growth of 110.5%[152]. Renewable Energy Capacity and Development - The installed capacity of renewable energy reached 1,500 MW, with wind power contributing 60% and solar power 40%[21]. - The company has a total installed capacity of 1,055.145 MW, with wind power accounting for 848.5 MW, biomass power for 115 MW, and solar power for 91.645 MW[32]. - The company is currently developing an additional 501.2 MW of capacity, including 350 MW of offshore wind projects[32]. - The company's controlled renewable energy projects generated a total of 1.49 billion kWh, an increase of 18.03% year-on-year[47]. - The expected renewable energy power consumption ratio for 2020 is projected to reach 28.2%, an increase of 0.3 percentage points from 2019[37]. Research and Development - Research and development expenses increased by 20% to 50 million RMB, focusing on new energy technologies[21]. - The company has obtained 36 patents in the biomass energy sector, demonstrating strong technological advantages[40]. - The company is focusing on R&D for large-scale offshore wind projects and new energy applications such as distributed microgrids and blockchain technology[48]. - Research and development expenses significantly decreased by 98.92% to ¥55,199.54, compared to ¥5,109,668.18 in the previous year[51]. Market Expansion and Strategy - The company plans to expand its market presence by entering three new provinces by the end of 2021[21]. - The company has no plans for major acquisitions in the near term, focusing instead on organic growth[21]. - The company is actively exploring mergers and acquisitions of existing renewable energy projects[48]. - The company plans to explore and develop markets outside Jiangsu province and internationally to mitigate risks associated with regional market changes[73]. Financial Position and Assets - The company's total assets increased by 9.25% to ¥9,113,458,528.68 from ¥8,342,125,519.19 at the end of the previous year[24]. - The company's asset-liability ratio was 40.60%, indicating strong solvency[44]. - The company's total liabilities amounted to ¥3,699,771,110.45, compared to ¥3,280,071,210.29, showing a growth of approximately 12.8%[138]. - The total owner's equity at the end of the reporting period was ¥5,062,054,308.90, reflecting an increase from the previous year[175]. Regulatory and Risk Management - The board has identified potential risks related to regulatory changes in the renewable energy sector[21]. - The government subsidy for renewable energy projects is being adjusted, with new projects no longer included in central financial subsidies starting from 2021[34]. - The company is closely monitoring changes in national policies that could affect the renewable energy sector and is prepared to adapt its strategies accordingly[77]. - The profitability of wind and solar projects is highly dependent on local climate conditions, which are unpredictable and may affect investment returns[80]. Environmental Compliance - The company strictly adhered to pollution discharge regulations, with no violations reported during the reporting period[107]. - The total emissions of SO₂ from Huai'an Biomass were 32.35 tons, with a concentration of 46.59 mg/m³, below the standard of 50 mg/m³[108]. - Jiangsu Province New Energy Development Co., Ltd. has complied with all environmental protection laws and regulations, with no pollution incidents reported during the reporting period[119]. - The company has established pollution prevention facilities in accordance with national and local requirements, ensuring compliance with emission standards[112]. Shareholder and Corporate Governance - The total number of ordinary shareholders at the end of the reporting period was 32,976[122]. - Jiangsu Guoxin Group holds 52.59% of the shares, totaling 325,000,000 shares[123]. - The company has not proposed any profit distribution or capital reserve transfer plans for the first half of 2020[84]. - The share lock-up period for major shareholders is set for 36 months from the date of the initial public offering, with a two-year reduction intention thereafter[90].

Financial Performance - Net profit attributable to shareholders increased by 229.66% to CNY 187,321,253.42 year-on-year[17] - Operating revenue rose by 24.05% to CNY 439,014,214.92 compared to the same period last year[17] - Basic earnings per share rose by 233.33% to CNY 0.30[17] - The company achieved a net profit attributable to shareholders of 187.32 million yuan in Q1 2020, representing a 229.66% increase compared to the same period last year[37] - Net profit for Q1 2020 reached RMB 217,870,438.00, significantly up from RMB 67,813,399.60 in Q1 2019, representing a growth of 221.0%[58] - Comprehensive income for Q1 2020 totaled RMB 218,204,654.26, compared to RMB 67,414,157.18 in Q1 2019, reflecting a growth of 223.0%[58] Cash Flow - The net cash flow from operating activities reached CNY 182,387,997.86, a significant increase of 274.25% year-on-year[17] - Cash inflow from operating activities amounted to CNY 337,306,870.07, up from CNY 243,833,058.52 in the same period last year, indicating an increase of about 38.3%[68] - The net cash flow from operating activities was CNY 182,387,997.86, significantly higher than CNY 48,733,639.70 in Q1 2019, marking an increase of approximately 274.5%[68] - Cash inflow from investment activities totaled CNY 762,289,849.99, compared to CNY 331,755,271.68 in Q1 2019, reflecting an increase of around 129.5%[68] - Cash inflow from financing activities was CNY 151,506,197.00, compared to CNY 29,000,000.00 in Q1 2019, representing an increase of approximately 421.4%[68] Assets and Liabilities - Total assets increased by 4.06% to CNY 8,680,618,120.03 compared to the end of the previous year[17] - The total assets of Jiangsu New Energy as of March 31, 2020, amounted to 8.68 billion yuan, an increase from 8.34 billion yuan at the end of 2019[40] - The company’s total liabilities as of March 31, 2020, were 3.24 billion yuan, compared to 3.11 billion yuan at the end of 2019[40] - Total liabilities increased to ¥3,400,359,156.87 from ¥3,280,071,210.29, representing a growth of approximately 3.66%[46] - Total equity rose to ¥5,280,258,963.16 from ¥5,062,054,308.90, reflecting an increase of about 4.32%[46] Operational Efficiency - The total electricity generated by controlled renewable energy projects was 763 million kWh, an increase of 23.86% year-on-year[23] - The on-grid electricity volume was 729 million kWh, up 24.69% compared to the previous year[23] - The company benefited from improved wind and solar resources in Jiangsu, leading to increased electricity generation[23] - Operating cash flow increased by 274.25% to ¥182,387,997.86, supported by renewable energy subsidies and increased power generation[30] Changes in Financial Reporting - The company reclassified renewable energy price subsidies from receivables to contract assets, impacting current profits[23] - Accounts receivable decreased by 85.78% to ¥162,532,945.56 due to reclassification to contract assets under new revenue standards[24] - The company has recognized contract assets amounting to ¥1,001,802,936.00 as of January 1, 2020, reflecting adjustments made under the new revenue standards[83] - The company has implemented new accounting standards for revenue and leasing, effective from January 1, 2020, impacting the financial reporting and asset recognition[80] Future Outlook - The company expects significant growth in net profit for the first half of 2020 compared to the same period in 2019[37] - Future guidance indicates a positive outlook for revenue growth driven by new product launches and market expansion strategies[90] - The company is actively exploring potential mergers and acquisitions to strengthen its competitive position in the industry[90]

Financial Performance - The company's operating revenue for 2019 was CNY 1,484,404,012.94, representing a year-on-year increase of 0.79% compared to CNY 1,472,814,118.29 in 2018[26]. - The net profit attributable to shareholders for 2019 was CNY 253,953,179.50, a decrease of 19.29% from CNY 314,641,509.62 in 2018[26]. - The net cash flow from operating activities decreased by 39.67% to CNY 517,439,515.13 in 2019, down from CNY 857,668,331.67 in 2018[26]. - The company's total assets at the end of 2019 were CNY 8,342,125,519.19, an increase of 1.76% from CNY 8,198,025,594.33 at the end of 2018[26]. - The basic earnings per share for 2019 was CNY 0.41, down 26.79% from CNY 0.56 in 2018[27]. - The weighted average return on equity for 2019 was 5.61%, a decrease of 2.43 percentage points from 8.04% in 2018[30]. - The company reported a net profit of CNY 62,080,216.93 in Q4 2019, with total revenue for the quarter at CNY 404,021,367.33[29]. - The company's net assets attributable to shareholders increased by 2.93% to CNY 4,592,788,646.32 at the end of 2019[26]. Dividend Distribution - The company plans to distribute a cash dividend of 1.5 CNY per 10 shares, totaling approximately 92.7 million CNY based on a total share capital of 61.8 million shares as of December 31, 2019[7]. - The company has not adopted stock dividends or capital reserve transfers for this profit distribution plan[7]. - The company's profit distribution policy remains unchanged, with a cash dividend of 1.5 RMB per 10 shares for 2019, totaling 92.7 million RMB, which is 36.50% of the net profit attributable to shareholders[134]. - The company has not proposed a cash profit distribution plan for the reporting period despite having positive distributable profits[136]. Risk Management - The company has not identified any significant risks that could adversely affect its future development strategy and operational goals during the reporting period[8]. - The company has detailed analyses of potential risks in its future development discussions within the report[8]. - The company is facing risks related to concentrated customer bases, particularly with local grid companies in Jiangsu province, which could impact operations if market conditions change[122]. - The company is addressing the risk of delayed renewable energy subsidies by enhancing cash flow management and maintaining a healthy financial status[126]. Renewable Energy Projects - The company has a total installed capacity of 1,055.145 MW as of December 31, 2019, including 848.5 MW from wind power, 115 MW from biomass, and 91.645 MW from solar power[39]. - The company is actively involved in the development of new energy projects, focusing on wind, biomass, and solar energy[39]. - The company’s biomass power generation capacity accounted for 19.39% of Jiangsu Province's total biomass capacity[49]. - The company’s solar power generation capacity represented 0.62% of Jiangsu Province's total solar capacity[49]. - The company is actively involved in the construction and management of offshore wind farms, contributing to its market expansion strategy[111]. Financial Health - The asset-liability ratio was 39.32%, a decrease of 0.68 percentage points compared to the beginning of the period, indicating strong solvency[62]. - The company reported a net cash flow from operating activities of 517.44 million yuan for the year 2019, indicating a healthy cash flow status[126]. - The company's asset-liability ratio at the end of the reporting period was 39.32%, reflecting a stable debt structure and strong solvency[126]. Environmental Compliance - The company’s renewable energy projects significantly reduce harmful gas emissions compared to traditional coal-fired power generation[170]. - The company has established pollution prevention facilities in compliance with national and local requirements, ensuring normal operation and standard emissions[177]. - All biomass power generation projects have passed environmental impact assessments and obtained discharge permits as required[178]. - The company strictly conducts online monitoring of pollutant emissions in accordance with national and local regulations[180]. Shareholder Information - The total number of ordinary shares is 61,800,000, with a proportion of 100%[184]. - Jiangsu Guoxin Group Co., Ltd. holds 325,000,000 shares, representing 52.59% of the total shares[189]. - The company does not have any preferred shareholders with restored voting rights[189]. - The actual controller of the major shareholders is the Jiangsu Provincial Government[194]. Research and Development - Research and development expenses rose by 17.13% to ¥9,783,746.35, accounting for 0.66% of total operating revenue[78]. - The total number of R&D personnel is 44, representing 7.10% of the company's total workforce[78]. - The company is committed to increasing innovation investment to drive research and development projects aligned with future growth directions[120].