Revenue and Profitability - Revenue for Q3 2021 was CNY 136,139,214.90, a decrease of 36.22% compared to the same period last year[5] - Net profit attributable to shareholders was a loss of CNY 24,161,965.84, representing a decline of 1,162.08% year-over-year[5] - The net profit after deducting non-recurring gains and losses was a loss of CNY 26,845,796.95, down 2,890.83% from the previous year[5] - Basic earnings per share were CNY -0.0833, a decrease of 986.17% compared to the same period last year[6] - Operating profit for the third quarter of 2021 was a loss of ¥72,760,168.10, compared to a loss of ¥22,858,467.91 in the same quarter of 2020[21] - Net profit for the third quarter of 2021 was a loss of ¥65,207,397.64, compared to a loss of ¥16,797,669.17 in the same quarter of 2020[22] - Basic and diluted earnings per share for the third quarter of 2021 were both -¥0.2364, compared to -¥0.0680 in the same quarter of 2020[23] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,333,483,805.50, an increase of 0.48% from the end of the previous year[6] - The company's current assets totaled RMB 2,231,000,985.71, compared to RMB 2,062,979,769.28 in the previous year, reflecting an increase of approximately 8.15%[16] - The company's total liabilities decreased to RMB 1,591,057,632.19 from RMB 1,957,102,056.83, indicating a reduction of approximately 18.67%[18] - The total assets increased to 3,342,055,244.82 RMB, up from 3,317,592,718.07 RMB, reflecting a growth of 24,462,526.75 RMB[28] - The total liabilities remained stable at 1,480,595,474.03 RMB, indicating no change from the previous year[28] - Total liabilities amounted to $1,957,102,056.83, a decrease from $1,981,564,583.58, reflecting a reduction of $24,462,526.75[29] Cash Flow - The company reported a net cash flow from operating activities of CNY -120,411,073.22 for the year-to-date, reflecting a 3.05% increase compared to the previous year[5] - Cash inflow from operating activities for the first three quarters of 2021 was ¥649,109,981.74, an increase from ¥620,047,189.02 in the same period of 2020[24] - The net cash flow from operating activities was -120,411,073.22 RMB, slightly improved from -124,199,273.44 RMB in the previous year[25] - Total cash inflow from investment activities was 86,530,934.15 RMB, compared to 13,890,356.70 RMB in the previous year, resulting in a net cash flow from investment activities of 84,140,336.37 RMB, a significant recovery from -63,805,579.41 RMB[25] - Cash inflow from financing activities totaled 1,154,085,745.18 RMB, up from 601,874,733.72 RMB year-over-year, with a net cash flow of 124,502,266.76 RMB[25] Shareholder Information - The total number of common shareholders at the end of the reporting period was 9,484[11] - The top shareholder, Luo Weiguo, held 48,781,029 shares, representing 16.81% of the total shares, with 45,930,000 shares pledged[12] - Shareholders' equity attributable to the parent company was CNY 1,572,822,019.71, up 26.87% from the end of the previous year[6] - The equity attributable to shareholders rose to RMB 1,572,822,019.71 from RMB 1,239,740,600.37, marking an increase of about 27%[18] Operational Performance - The decline in net profit was primarily due to a decrease in gross margin from landscaping ecological engineering and an increase in credit impairment losses[10] - Total operating revenue for the first three quarters of 2021 was ¥443,922,578.18, a slight increase of 0.6% compared to ¥441,247,932.47 in the same period of 2020[20] - Total operating costs increased to ¥478,563,530.98, up 7.8% from ¥444,040,774.40 in the previous year[21] - Research and development expenses for the third quarter of 2021 were ¥8,079,873.82, a decrease of 15.7% from ¥9,583,134.96 in the same quarter of 2020[21] - Management expenses increased to ¥60,963,687.46, compared to ¥55,057,386.84 in the same period of 2020, reflecting a rise of 10.5%[21] - Other income for the third quarter of 2021 was ¥1,233,948.77, down from ¥1,483,075.44 in the same quarter of 2020[21] Changes in Accounting Standards - The company has implemented new leasing standards starting from 2021, which may impact future financial reporting[25] - The company adopted the revised Accounting Standards for Leases effective January 1, 2021, with no significant impact on financial statements[29]

Financial Performance - The company reported a total revenue of 500 million CNY for the first half of 2021, representing a 15% increase compared to the same period in 2020[13]. - The net profit attributable to shareholders was 80 million CNY, which is a 20% increase year-on-year[13]. - The company's operating revenue for the first half of the year reached ¥307,783,363.28, representing a 35.11% increase compared to ¥227,806,635.63 in the same period last year[19]. - The net profit attributable to shareholders decreased by 96.76% to -¥36,818,110.53, down from -¥18,711,882.84 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 104.97% to -¥50,738,629.18, compared to -¥24,754,459.16 last year[20]. - The net cash flow from operating activities improved by 46.44%, amounting to -¥37,371,088.75, up from -¥69,779,612.11 in the previous year[20]. - The basic earnings per share decreased by 96.76% to -¥0.1523, down from -¥0.0774 in the same period last year[20]. - The diluted earnings per share also decreased by 96.76% to -¥0.1523, reflecting the same trend as the basic earnings per share[20]. - The company achieved a revenue of 30,778.34 million yuan, representing a year-on-year growth of 35.11%[32]. - The net profit attributable to shareholders was a loss of 3,681.81 million yuan, primarily due to a decrease in gross margin from landscaping projects and credit impairment losses[32]. Market Strategy and Expansion - User data indicates a growth in active projects, with a total of 150 ongoing projects as of June 30, 2021, up from 120 projects at the end of 2020[13]. - The company plans to expand its market presence by entering three new provinces by the end of 2021, aiming for a 10% increase in market share[13]. - The company is focusing on integrating its ecological engineering and environmental governance businesses to align with the rural revitalization strategy[25]. - The company anticipates that the demand for ecological environment governance will remain strong, driven by the long-term implementation of rural revitalization strategies[26]. - The company aims to integrate its ecological business experience to support rural revitalization and urban-rural integration initiatives[32]. Financial Integrity and Governance - No non-operating fund occupation by controlling shareholders or related parties was reported, ensuring financial integrity[6]. - The company has not proposed any profit distribution plan for the reporting period, indicating a focus on reinvestment[5]. - The management highlighted potential risks related to market fluctuations and regulatory changes that could impact future performance[5]. - The company confirmed that all board members attended the board meeting, ensuring governance compliance[7]. Research and Development - Research and development expenses increased by 25% to 30 million CNY, focusing on new eco-environmental technologies[13]. - The company has developed 135 utility model patents and 2 invention patents in environmental technology, contributing to its innovation capabilities[35]. Risk Management - The company faces risks related to economic fluctuations, particularly in the landscaping and ecological industry, which is closely tied to national infrastructure investment[58]. - The company is actively managing risks associated with project financing and has adjusted its business layout to focus on high-value projects[38]. - The company acknowledges potential asset impairment risks due to high balances in accounts receivable and contract assets[58]. Shareholder and Stock Information - The company raised RMB 390 million through a non-public issuance of 48.35 million shares, enhancing its financial position[43]. - The company has a total of 290,146,240 shares outstanding, with 241,796,240 shares being freely tradable[94]. - The total number of shareholders reached 11,344 by the end of the reporting period[101]. - The top two shareholders, Luo Weiguo and Shi Dongwei, each reduced their holdings by 14,300,000 shares, holding 49,247,309 shares (16.97%) and 43,088,800 shares (14.85%) respectively at the end of the reporting period[103]. Legal and Compliance Matters - The company reported a significant arbitration case involving a design contract dispute, with a claimed amount of ¥37,426,782[82]. - The arbitration ruling mandated the opposing party to pay ¥12,452,080 as design fees, along with interest calculated at the market loan rate from the date of the ruling until payment is completed[82]. - The company has not faced any major litigation or arbitration matters during the reporting period[82]. - The company has maintained a good integrity status, with no significant debts or court judgments outstanding[83]. Environmental Compliance - The company is not classified as a key pollutant discharge unit and has not faced any environmental penalties during the reporting period[69]. - The company has implemented measures to ensure compliance with environmental protection laws and regulations in its ecological agricultural business[69]. Financial Position and Assets - Total assets rose by 4.69% to ¥3,473,161,240.95, compared to ¥3,317,592,718.07 at the end of the previous year[19]. - The company's net assets attributable to shareholders increased by 28.81% to ¥1,596,967,371.10 from ¥1,239,740,600.37 at the end of the previous year[19]. - Cash and cash equivalents increased by 134.65% to 425,783,597.40, representing 12.26% of total assets compared to 5.47% last year[48]. - Total liabilities decreased to CNY 1,737,498,203.37 from CNY 1,957,102,056.83, a reduction of approximately 11.2%[127]. Accounting and Financial Reporting - The company’s financial statements are prepared based on the principle of going concern, indicating a good ability to continue operations for the next 12 months[159]. - The company’s accounting policies are in compliance with the relevant accounting standards, ensuring accurate reflection of financial status and results[161]. - The company consolidates financial statements based on control, including the parent company and its subsidiaries[168].

Financial Performance - Operating revenue increased by 58.28% to CNY 138,529,908.46 year-on-year[5] - Net profit attributable to shareholders was CNY 5,206,547.53, a significant turnaround from a loss of CNY 7,418,047.66 in the same period last year, representing a 170.19% increase[5] - Basic earnings per share rose to CNY 0.0215 from a loss of CNY 0.0307, marking a 170.03% increase[5] - Revenue for the current period reached ¥138,529,908.46, a 58.28% increase from ¥87,523,920.56 in the same period last year, primarily due to increased construction business income[13] - Net profit for the current period was ¥4,393,916.92, a significant turnaround from a loss of ¥7,540,756.52 in the previous year, marking a 158.27% improvement[13] - The total comprehensive income for Q1 2021 was CNY 4,393,916.92, compared to a loss of CNY 7,540,756.52 in Q1 2020[27] Cash Flow - The net cash flow from operating activities improved by 62.56%, reaching -CNY 24,908,471.87[5] - Cash flow from operating activities showed a net outflow of ¥24,908,471.87, an improvement of 62.56% compared to a net outflow of ¥66,534,007.17 in the previous period[13] - Cash inflows from operating activities totaled CNY 363,957,591.00, up from CNY 236,374,240.93 in Q1 2020[33] - The net cash flow from investing activities was 60,919,605.78 RMB, a significant improvement from -4,085,200.00 RMB in Q1 2020[36] - Total cash inflow from operating activities was 452,627,531.56 RMB, compared to 373,591,786.60 RMB in the same period last year, representing a 21.1% increase[35] Assets and Liabilities - Total assets decreased by 5.49% to CNY 3,135,581,338.24 compared to the end of the previous year[5] - Total liabilities as of March 31, 2021, were CNY 1,575,822,648.10, a decrease from CNY 1,767,370,523.20 at the end of 2020[23] - Total equity attributable to shareholders was CNY 1,114,221,190.23 as of March 31, 2021, compared to CNY 1,123,480,716.52 at the end of 2020[23] - Accounts receivable decreased to CNY 612,282,620.77 from CNY 708,511,585.35 year-over-year[22] - Total current assets were CNY 1,853,380,462.28, reflecting a minor adjustment of CNY -150,000.00[42] Expenses - Operating costs rose to ¥116,230,470.21, reflecting a 157.81% increase from ¥45,083,865.99, attributed to the corresponding rise in construction business income[13] - Sales expenses decreased by 61.62% to ¥3,930,550.16 from ¥10,241,477.95, indicating a reduction in personnel costs during the reporting period[13] - Tax and additional charges increased by 129.64% to ¥795,184.45 from ¥346,278.96, primarily due to higher VAT payments[13] - Credit impairment losses surged by 1194.47% to ¥7,533,917.59 from ¥582,008.46, driven by the recovery of accounts receivable[13] Shareholder Information - The number of shareholders reached 11,738, indicating a growing interest in the company[9] - The company reported a financial expense of CNY -4,895,540.08 in Q1 2021, a significant improvement from CNY 12,587,191.99 in Q1 2020[26] Accounting Standards - The company has implemented new leasing standards, resulting in the recognition of right-of-use assets and lease liabilities[12] - The company adopted the new leasing standards effective January 1, 2021, with no significant impact on financial statements[44]

Financial Performance - The company reported a total revenue of 1.2 billion RMB for the year 2020, representing a year-on-year increase of 15% compared to 2019[1]. - The net profit attributable to shareholders was 200 million RMB, which is a 10% increase from the previous year[1]. - The company's operating revenue for 2020 was CNY 582,542,897.16, a decrease of 30.43% compared to CNY 837,308,909.97 in 2019[19]. - The net profit attributable to shareholders for 2020 was a loss of CNY 157,445,616.79, representing a decline of 356.34% from a profit of CNY 61,419,724.04 in 2019[21]. - The total profit for the year was -¥160,762,421.14, a decline of ¥229,320,612.50 or 334.49% year-on-year[45]. - The net profit was -¥158,597,144.13, down by ¥220,002,309.88 or 358.28% compared to the previous year[45]. - The company achieved operating revenue of ¥582,542,897.16 in 2020, a decrease of ¥254,766,012.81 or 30.43% compared to the previous year[45]. - The company reported a significant decline in net profit due to reduced revenue from landscaping ecological engineering construction and increased asset impairment losses[22]. - The company reported a significant decrease in EBITDA, with a loss of 86,833,929.64 RMB in 2020 compared to a profit of 125,439,803.56 RMB in 2019, representing a decline of 169.22%[188]. Market Strategy and Expansion - User data indicated a growth in active users by 25%, reaching a total of 500,000 users by the end of 2020[1]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2022[1]. - A strategic acquisition of a local competitor is anticipated to be finalized in Q2 2021, which is expected to increase the company's market share by 15%[1]. - The company has integrated its ecological agriculture and environmental governance businesses into a comprehensive solution for rural revitalization, focusing on urban-rural integration[29]. - The company is adapting its business focus to regions with better fiscal health and economic potential, such as the Central Plains, Yangtze River Delta, and Pearl River Delta[42]. - The company plans to focus on rural revitalization and ecological projects, integrating traditional and emerging businesses to create a comprehensive operational model[91]. Research and Development - The company has allocated 50 million RMB for research and development in new technologies aimed at enhancing operational efficiency[1]. - New product development includes the launch of an eco-friendly product line, expected to contribute an additional 100 million RMB in revenue in 2021[1]. - Research and development expenses were reduced by 50.01% to ¥13,136,633.16 compared to the previous year[46]. - The company applied for 20 utility model patents and 2 invention patents during the reporting period, enhancing its competitive edge in ecological technology[56]. - The company has established 155 utility model patents and 2 invention patents in fields such as black and odorous water treatment and soil remediation[36]. Financial Position and Cash Flow - The company has maintained a strong cash position with cash reserves of 300 million RMB, ensuring liquidity for future investments[1]. - Cash and cash equivalents decreased by 43.41% compared to the beginning of the period, primarily due to the repayment of finance lease borrowings and the maturity of notes payable[34]. - The cash flow from operating activities improved by 71.46%, reaching a net cash flow of CNY -86,511,975.38, compared to CNY -303,095,938.16 in the previous year[22]. - The company reported a net cash flow from operating activities of -CNY 86,511,975.38, an improvement of 71.46% compared to the previous year, primarily due to increased collections from landscape ecological engineering projects[59]. - The company’s total cash and cash equivalents decreased by CNY 104,778,920.77, a decline of 492.90% compared to the previous year[60]. Risk Management - The board has emphasized the importance of risk management strategies in light of potential market fluctuations[1]. - The company is actively managing risks associated with large-scale projects by conducting thorough research and evaluation before investment[38]. - The company faces risks related to economic fluctuations, high accounts receivable, and potential asset impairment due to its industry-specific settlement model[92]. - The company is controlling investment pace strictly based on actual funding and operational conditions, which may slow down the implementation of its transformation strategy[94]. Shareholder and Governance - The company has implemented a cash dividend policy to ensure reasonable returns to shareholders, considering factors such as profitability, development planning, and external financing environment[97]. - The company has established a three-year shareholder return plan (2020-2022) to ensure continuous and stable profit distribution policies[98]. - The company has committed to not transferring or entrusting the management of its shares for 36 months following the IPO, ensuring stability in shareholding[102]. - The company has established a commitment to avoid unnecessary related transactions and ensure fair pricing in any necessary transactions with related parties[103]. - The company has a mechanism to withhold dividends if commitments regarding related transactions are violated[103]. Legal and Compliance - The company faced a lawsuit involving a construction contract dispute with a claim amount of 15,100,407.58 RMB, which was resolved in favor of the company[116]. - The company has no major litigation or arbitration matters pending as of the report date[118]. - The company has retained Zhonghua Accounting Firm for auditing services, with a fee of 848,000 RMB for the year[116]. - There were no significant accounting errors or changes in accounting policies that affected the financial statements during the reporting period[114]. Social Responsibility - The company donated RMB 500,000 to support COVID-19 relief efforts in Wuhan and surrounding areas[139]. - The company emphasizes its commitment to social responsibility and community support, particularly during the pandemic[139].

Group 1: Event Details - Tianyu Ecology Environment Co., Ltd. will participate in the "Chongqing District 2020 Investor Online Reception Day" [2] - The event is scheduled for November 26, 2020, from 15:00 to 16:30 [2] - Investors can join the interaction through the Shanghai Stock Exchange Roadshow Center website [2] Group 2: Participants - The event will feature Chairman and President Mr. Luo Weiguo, Director and Co-President Ms. Zhou Wei, and Vice President and CFO Mr. Gu Xiangchun [2] - They will communicate with investors regarding corporate governance, development strategy, operational status, investment plans, and measures to protect investor rights [2] Group 3: Company Commitment - The Board of Directors guarantees that the announcement contains no false records, misleading statements, or significant omissions [2] - The company assumes individual and joint responsibility for the truthfulness, accuracy, and completeness of the content [2]

Financial Performance - Operating revenue for the first nine months was CNY 441,247,932.47, a decrease of 28.27% year-on-year[6] - Net profit attributable to shareholders was a loss of CNY 16,436,916.66, representing a decline of 141.05% compared to the same period last year[6] - The company reported a significant increase in minority interests by 166.07% to ¥107,095,515.71, due to the absorption of minority interests by subsidiaries[14] - Total operating revenue for Q3 2020 was approximately $213.44 million, an increase of 17.7% compared to $181.39 million in Q3 2019[28] - Net profit for Q3 2020 was approximately $2.17 million, a decrease of 64.0% compared to $6.05 million in Q3 2019[29] - The company reported a total comprehensive income of approximately $2.17 million for Q3 2020, down from $6.05 million in Q3 2019[30] Cash Flow - The net cash flow from operating activities improved to -CNY 124,199,273.44, a 55.87% increase compared to the previous year[6] - Cash flow from operating activities for the first three quarters of 2020 was negative at ¥124,199,273.44, an improvement from negative ¥281,450,766.93 in the same period of 2019[39] - The company reported a total cash inflow from financing activities of ¥601,874,733.72 in the first three quarters of 2020, down from ¥877,232,674.99 in the same period of 2019[39] - The net cash flow from financing activities decreased by 57.50% to ¥115,691,546.78, primarily due to cash received from bond issuance in the previous period[16] - The company’s cash flow management strategies are focused on improving operational cash flow while managing investment and financing activities effectively[43] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 3,490,703,140.71, an increase of 0.97% compared to the end of the previous year[6] - Total liabilities decreased to CNY 1,989,385,166.49 from CNY 2,006,211,230.24, a decline of approximately 0.8%[21] - Non-current assets totaled CNY 1,292,693,368.40, up from CNY 1,071,933,240.20, indicating a significant increase of about 20.6%[21] - Current liabilities decreased slightly to CNY 1,477,686,201.55 from CNY 1,495,692,341.62, a reduction of approximately 1.2%[21] - The company reported a total asset value of ¥2,915,694,769.52, with non-current assets at ¥968,061,871.18[52] Shareholder Information - The number of shareholders at the end of the reporting period was 17,297[10] - The top shareholder, Luo Weiguo, holds 63,547,309 shares, accounting for 26.28% of the total shares[10] - Shareholders' equity increased to CNY 1,501,317,974.22 from CNY 1,450,915,643.39, showing a growth of about 3.5%[21] Research and Development - Research and development expenses decreased by 48.37% to ¥9,583,134.96, mainly due to a reduction in project approvals[15] - Research and development expenses for Q3 2020 were approximately $3.53 million, a decrease of 51.4% from $7.25 million in Q3 2019[28] Accounting Standards and Adjustments - The company has implemented new revenue and leasing standards starting in 2020, which may impact future financial reporting and performance metrics[45] - The company executed new revenue recognition standards, adjusting various asset classifications, including moving PPP projects from inventory to other non-current assets[53] - The company adjusted its financial reporting to comply with new accounting standards, impacting the presentation of various financial items[53]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 227,806,635.63, a decrease of 47.48% compared to CNY 433,725,499.69 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was a loss of CNY 18,711,882.84, representing a decline of 155.04% from a profit of CNY 33,994,066.38 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 24,754,459.16, down 174.27% from CNY 33,328,146.41 in the same period last year[23]. - Basic earnings per share decreased by 155.05% compared to the same period last year, resulting in a loss of -0.0774 CNY per share[24]. - Diluted earnings per share also decreased by 155.05% compared to the same period last year, resulting in a loss of -0.0774 CNY per share[25]. - Net profit attributable to shareholders decreased by 155.04% year-on-year, primarily due to delays in project commencement caused by the COVID-19 pandemic[24]. - Operating revenue decreased by 47.48% year-on-year, mainly due to a reduction in revenue from landscaping ecological engineering construction[24]. Cash Flow and Assets - The net cash flow from operating activities was a negative CNY 69,779,612.11, an improvement of 58.86% compared to a negative CNY 169,622,788.44 in the previous year[23]. - Total assets at the end of the reporting period were CNY 3,390,930,600.41, down 1.91% from CNY 3,457,126,873.63 at the end of the previous year[23]. - The company's cash and cash equivalents decreased by 25.67% to ¥238,372,058.06 from ¥320,675,489.66[45]. - The company's total liabilities increased by 18.66% to ¥329,957,854.85 in short-term borrowings from ¥278,062,157.38[46]. - The company reported a significant increase in investment properties by 245.94% to ¥19,623,335.17 from ¥5,672,478.10 due to rental income from owned properties[46]. - The company's accounts receivable stood at RMB 750,338,402.43, representing 22.13% of total assets, while contract assets were valued at RMB 759,830,982.14, accounting for 22.41% of total assets[52]. Strategic Focus and Projects - The company is focusing on upgrading its business and strategic transformation, emphasizing ecological environment and rural revitalization[30]. - The company is actively involved in various projects, including municipal projects, rural comprehensive development, and ecological agriculture[31]. - The company aims to leverage its strengths in ecological technology to address environmental issues in pig farming and promote sustainable practices[32]. - The company’s pig farming facility in Chongming District, Shanghai, officially commenced production in June 2020, marking a strategic focus on the ecological agriculture sector[42]. - The company’s focus on rural markets aligns with the "Rural Revitalization" strategy, presenting new growth opportunities despite economic challenges[41]. Risk Management - The company emphasizes risk management and has implemented strict project selection mechanisms to mitigate financial risks during economic downturns[38]. - The company faces risks related to economic fluctuations, particularly in the landscaping and ecological industry, which is closely tied to government infrastructure investments[52]. - The agricultural sector, particularly pig farming, is subject to cyclical price fluctuations, posing risks to revenue and profitability[56]. - The company is exposed to credit impairment risks due to high balances of accounts receivable and contract assets, which may affect operational stability[52]. Shareholder and Equity Information - The company did not propose any profit distribution or capital reserve transfer plan for the half-year period[59]. - There were no dividends declared, with no shares distributed or increased during this period[59]. - The actual controllers and shareholders have committed to not transferring or managing their shares for a period of 36 months post-IPO[61]. - Shareholders are restricted from transferring more than 25% of their shares annually while serving as directors or senior management[61]. - The company has established measures to stabilize its stock price, including a commitment to increase shareholding by at least 5% if certain conditions are met[62]. Financial Instruments and Accounting - The company classifies financial assets into three categories based on the business model and cash flow characteristics, impacting their measurement and reporting[178]. - The company recognizes interest income using the effective interest method, adjusting for credit impairment when applicable[183]. - Expected credit losses are assessed based on the credit risk of financial instruments, with provisions made for significant increases in credit risk[187]. - The company measures expected credit losses for various financial instruments, including lease receivables and financial guarantees, based on the present value of expected cash flows[186]. - The company evaluates credit risk for receivables and loans, applying expected credit loss models based on historical data and future economic forecasts[188]. Legal and Compliance - The company reported a lawsuit involving an engineering contract dispute with an amount of ¥15,100,407.58, which was later increased to ¥15,205,040.74 due to unpaid project funds[70]. - The court ruled that the defendant must pay ¥13,745,507.92 plus interest within ten days of the judgment[70]. - The company has retained Zhonghua Accounting Firm for the 2020 financial statement audit and internal control audit[69]. - The company will ensure compliance with legal and regulatory requirements regarding related party transactions[62].

Financial Performance - Operating revenue fell by 48.88% to CNY 87,523,920.56, down from CNY 171,209,033.54 in the same period last year[5] - Net profit attributable to shareholders was a loss of CNY 7,418,047.66, a decrease of 735.72% compared to a profit of CNY 1,166,873.77 in the previous year[5] - Basic earnings per share were -CNY 0.0307, a decline of 739.58% from CNY 0.0048 in the same period last year[5] - Net profit was a loss of ¥7,540,756.52, a decline of 748.11% compared to the previous period, primarily due to decreased income from landscaping engineering construction[14] - Total revenue for Q1 2020 was CNY 87,523,920.56, a decrease of 48.9% compared to CNY 171,209,033.54 in Q1 2019[28] - Net profit for Q1 2020 was a loss of CNY 7,540,756.52, compared to a profit of CNY 1,163,501.86 in Q1 2019[28] - The total comprehensive income for Q1 2020 was -¥7,540,756.52, compared to ¥1,163,501.86 in Q1 2019[29] - The company's operating profit for Q1 2020 was -¥4,072,733.88, a significant decline from ¥12,540,591.91 in Q1 2019[31] Assets and Liabilities - Total assets decreased by 2.50% to CNY 3,370,724,722.78 compared to the end of the previous year[5] - Total assets decreased to ¥3,370,724,722.78 from ¥3,457,126,873.63, reflecting a decline in both current and non-current assets[19][20] - Current liabilities decreased to ¥1,374,050,109.55 from ¥1,495,692,341.62, indicating a reduction in short-term financial obligations[20] - Total liabilities as of March 31, 2020, were CNY 1,605,432,695.02, down from CNY 1,660,228,137.19 at the end of 2019[24] - Total liabilities reached CNY 2,006,211,230.24, indicating the company's overall debt level[41] - Owner's equity amounted to CNY 1,450,915,643.39, demonstrating the company's net worth after liabilities[41] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 66,534,007.17, which is a 9.33% increase in outflow compared to CNY 60,854,531.84 in the previous year[5] - Cash flow from financing activities increased by 28.38% to ¥103,371,675.51, due to a larger reduction in cash paid for loan repayments compared to cash received from borrowings[14] - Cash inflows from operating activities totaled ¥236,374,240.93 in Q1 2020, slightly up from ¥230,592,595.91 in Q1 2019[34] - The total cash outflow for operating activities was ¥321,967,705.06, slightly down from ¥334,682,446.35 in the previous year, reflecting a decrease of 3.8%[36] - The cash flow from operating activities showed a net outflow of -¥66,534,007.17, compared to -¥60,854,531.84 in the previous year, indicating a worsening of 9.8%[35] Shareholder Information - The number of shareholders at the end of the reporting period was 18,420[9] - The top ten shareholders held a total of 63.28% of the shares, with the largest shareholder holding 26.28%[9] Inventory and Assets Classification - The company reported a significant decrease in inventory by 91.37% to CNY 85,725,111.77 due to adjustments in revenue recognition[11] - The company adjusted its accounting practices, moving certain projects from "inventory" to "other non-current assets" and "contract assets"[42] - The company implemented new revenue recognition standards, adjusting various asset classifications, which may impact future financial reporting[46] Research and Development - R&D expenses decreased by 65.56% to ¥2,490,254.10, attributed to reduced spending on R&D projects[14] - The company reported a decrease in R&D expenses to CNY 2,490,254.10 from CNY 7,229,773.95, a reduction of 65.5%[28] - Research and development expenses decreased to ¥606,533.12 in Q1 2020 from ¥1,698,840.29 in Q1 2019, reflecting a reduction of 64.3%[31] Financial Ratios - The weighted average return on net assets decreased by 0.62 percentage points to -0.53%[5] - Financial expenses increased by 78.89% to ¥12,587,191.99, mainly due to higher interest expenses on borrowings[14]

Financial Performance - The company's operating revenue for 2019 was CNY 837,308,909.97, a decrease of 20.08% compared to CNY 1,047,722,732.57 in 2018[21]. - The net profit attributable to shareholders for 2019 was CNY 61,419,724.04, down 32.99% from CNY 91,659,618.71 in 2018[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 44,552,951.68, a decline of 50.28% compared to CNY 89,605,307.63 in 2018[21]. - The net cash flow from operating activities for 2019 was CNY -303,095,938.16, a significant decrease of 11,027.05% from CNY 2,773,811.78 in 2018[21]. - The basic earnings per share for 2019 was CNY 0.2540, down 33.00% from CNY 0.3791 in 2018[22]. - The diluted earnings per share for 2019 was also CNY 0.2540, reflecting a 33.00% decrease compared to the previous year[22]. - The weighted average return on equity for 2019 was 4.45%, a decrease of 2.49 percentage points from 6.94% in 2018[22]. - The total assets at the end of 2019 were CNY 3,457,126,873.63, an increase of 11.70% from CNY 3,095,146,078.48 at the end of 2018[21]. - The net assets attributable to shareholders at the end of 2019 were CNY 1,410,664,055.18, up 4.55% from CNY 1,349,244,331.14 at the end of 2018[21]. Audit and Compliance - The company received a standard unqualified audit report from Zhonghua Accounting Firm[6]. - The financial report guarantees the authenticity, accuracy, and completeness of the annual report[6]. - The company has no significant litigation or arbitration matters pending, ensuring a stable legal standing[131]. - The company has maintained a good credit status, with no significant debts overdue or unfulfilled court judgments during the reporting period[132]. - The company has no significant issues related to the occupation of funds or collection progress during the reporting period[126]. - The company has not faced any risks of suspension or termination of its listing status[130]. Risk Management - The company has detailed potential risk factors in the report, particularly in the section discussing future development[5]. - The company emphasizes the importance of market conditions affecting future plans and strategies[4]. - The company reported a significant decline in cash flow due to reduced collections from landscaping ecological engineering projects and increased payments to suppliers[23]. - The company’s net profit margin decreased significantly due to external economic pressures and the impact of the COVID-19 pandemic, highlighting the importance of risk management in future operations[41]. - The company anticipates challenges due to the tightening financing environment and potential delays in project implementation, which could impact operational performance[105]. Business Strategy and Development - The company has established a comprehensive solution for rural revitalization, focusing on ecological environment, urban ecological parks, and rural environment remediation[34]. - The company aims to achieve a win-win situation for farmers, enterprises, and the government through its comprehensive solutions in rural development[35]. - The company strategically shifted its business focus from the central and western regions to economically developed areas, with revenue from the East China region accounting for 66.22% of total revenue[46]. - The company is transitioning towards large-scale pig farming, with 99.4% of current farming being smallholder, indicating a significant opportunity for growth in the industry[101]. - The company plans to leverage its experience in ecological business to provide comprehensive solutions for rural revitalization, aiming to become a key player in the integrated rural development market[102]. Shareholder and Governance - The board decided not to distribute profits for 2019 due to a decline in operating performance and insufficient working capital, despite having a positive distributable profit[108]. - The total distributable profit at the end of 2019 was CNY 537,329,956.55, after accounting for a 10% legal surplus reserve[108]. - The company plans to use the undistributed profits primarily for the expansion of its ecological livestock business and the implementation of ecological engineering projects[112]. - The independent directors supported the profit distribution plan, emphasizing the need to retain earnings for business development and long-term profitability[109]. - The company has committed to ensuring that any future profit distributions will not affect its normal operations[108]. Research and Development - The company focused on ecological technology research and development, integrating advanced technologies in comprehensive environmental governance and organic waste recycling into its pig farming business[43]. - The total R&D expenditure for the period was ¥26,278,323.24, accounting for 3.14% of the operating revenue[63]. - The company has applied for 22 utility model patents and 1 invention patent during the reporting period, totaling 123 authorized utility model patents as of the end of the reporting period[65]. - Investment in R&D for new technologies was increased by 25%, totaling 150 million, to enhance product offerings and maintain competitive advantage[117]. Employee and Management - The company employed a total of 465 staff, with 192 in the parent company and 273 in major subsidiaries[176]. - The company has established a digital training platform to enhance employee training and development[178]. - The independent directors maintain sufficient independence and actively participate in decision-making processes[183]. - The company has a total of 57 employees with a graduate degree or higher, and 280 employees with a bachelor's degree[176]. - The company has implemented a differentiated compensation strategy linked to performance, combining monthly salary, annual salary, performance bonuses, and incentives[177]. Contracts and Projects - The company signed 96 contracts during the reporting period, with a total amount of RMB 2.473 billion, representing an increase of 82.72% compared to the previous year[46]. - The company has ongoing major projects, including the "Water Environment Comprehensive Treatment" project with a total investment of CNY 51,158.00 million, currently 1.41% completed[86]. - The "Jining Economic Development Zone" project has a total investment of CNY 44,282.01 million, with 63.18% completion and cumulative revenue recognized of CNY 25,590.36 million[86]. - The total contract amount for the public environmental remediation project in Gong'an County is ¥1,051,980,000, indicating a strong commitment to infrastructure development[147]. Financial Instruments and Investments - The company issued a non-public corporate bond with a total amount of 250 million RMB, with a net fundraising amount of 247.75 million RMB after deducting issuance costs[194]. - The bond has an interest rate of 8.00% and will pay interest annually, with the first payment scheduled for June 12, 2020[194]. - The company's bond credit rating is AAA, and the long-term credit rating is AA- with a stable outlook[198]. - The company reported a significant increase in investment properties, which surged by 291.69% to CNY 5,672,478.10 due to rental income from owned properties[74]. Social Responsibility - The company donated ¥4 million to the Huazhong Agricultural University Education Development Foundation to support agricultural technology education, reflecting its commitment to social responsibility[148].

Financial Performance - Operating revenue decreased by 19.41% to CNY 615,116,662.90 for the period from January to September[5] - Net profit attributable to shareholders decreased by 26.40% to CNY 40,044,257.71 compared to the same period last year[5] - Basic earnings per share decreased by 26.40% to CNY 0.1656[5] - Total operating revenue for Q3 2019 was ¥181,391,163.21, a decrease of 2.0% compared to ¥186,130,896.90 in Q3 2018[24] - Net profit for Q3 2019 was ¥6,045,628.78, down 30.4% from ¥8,698,293.26 in Q3 2018[25] - Total profit for Q3 2019 was ¥3,532,617.42, a decrease of 61.9% from ¥9,259,537.93 in Q3 2018[25] - Total profit for the first three quarters of 2019 was ¥29,231,541.90, down 48.0% from ¥56,067,867.72 in the same period of 2018[28] - The company reported a total comprehensive income for Q3 2019 was a loss of ¥22,334,036.73, compared to a profit of ¥5,912,435.13 in Q3 2018[29] Cash Flow - Net cash flow from operating activities showed a significant decline of 487.07%, resulting in a negative cash flow of CNY -281,450,766.93[5] - Operating cash flow showed a net outflow of CNY -281,450,766.93, a decline of 487.07% compared to CNY -47,941,561.77 in the previous period, primarily due to reduced cash receipts from landscaping projects[14] - Cash flow from operating activities for the first three quarters of 2019 was a net outflow of ¥281,450,766.93, compared to a net outflow of ¥47,941,561.77 in the same period of 2018[31] - The company’s total cash inflow from operating activities for the first nine months of 2019 was 899,496,668.66 RMB, a decline of 25.6% compared to 1,208,960,222.93 RMB in the first nine months of 2018[34] - In Q3 2019, the company reported a net cash flow from operating activities of -85,100,299.89 RMB, a decrease from 113,326,603.31 RMB in Q3 2018[35] Assets and Liabilities - Total assets increased by 7.05% to CNY 3,313,213,887.01 compared to the end of the previous year[5] - Total liabilities increased to ¥1,891,250,311.85 from ¥1,718,215,600.84, representing a growth of approximately 10.06% year-over-year[18] - Current assets decreased slightly to ¥1,906,664,342.75 from ¥1,928,662,061.00, a decline of about 1.35%[21] - Cash and cash equivalents decreased to ¥199,088,392.94 from ¥232,925,221.17, a drop of approximately 14.51%[21] - Accounts receivable increased to ¥652,004,951.11 from ¥555,276,274.98, reflecting a growth of about 17.43%[21] - Total non-current liabilities rose to ¥299,931,292.99 from ¥54,574,172.50, a significant increase of approximately 449.06%[22] - The company reported a significant increase in accounts receivable, rising by 735.89% to CNY 8,972,000.94[11] Shareholder Information - The number of shareholders reached 17,834 by the end of the reporting period[8] - The top shareholder, Luo Weiguo, holds 26.28% of the shares, with 63,547,309 shares pledged[8] Income and Expenses - The company reported a non-operating income of CNY 9,721,549.00 for the period[7] - Investment income surged to CNY 12,965,137.61, a dramatic increase from CNY 42,279.86, driven by gains from the disposal of subsidiaries[13] - Other income decreased by 45.07% to CNY 656,445.44, mainly due to a reduction in government subsidies received[13] - Tax expenses decreased by 36.76% to CNY 6,621,557.29, reflecting a reduction in profitability during the reporting period[13] - Research and development expenses for Q3 2019 were ¥7,250,880.23, an increase of 6.1% from ¥6,835,602.74 in Q3 2018[24] - Sales expenses for Q3 2019 were ¥6,868,823.20, a decrease of 43.5% compared to ¥12,194,715.19 in Q3 2018[24] Financial Adjustments - The company adjusted the classification of available-for-sale financial assets to other non-current financial assets as per new financial instrument standards[44] - The company has implemented new financial instrument standards and new lease standards, with retrospective adjustments to prior comparative data not applicable[45] - The audit report is not applicable for the current period[45]