Financial Performance - Revenue for Q1 2022 was CNY 170,373,955.95, a decrease of 13.39% compared to the same period last year[3] - Net profit attributable to shareholders was CNY 21,130,055.15, down 18.23% year-over-year[3] - Net profit excluding non-recurring items was CNY 20,912,283.82, reflecting a decline of 23.28% compared to the previous year[3] - Basic earnings per share decreased by 23.08% to CNY 0.10[3] - The weighted average return on equity was 1.79%, a decrease of 0.68 percentage points from the previous year[3] - Total operating revenue for Q1 2022 was ¥170,373,955.95, a decrease of 13.36% from ¥196,705,563.24 in Q1 2021[17] - Net profit for Q1 2022 was ¥22,802,819.12, a decline of 22.49% compared to ¥29,409,187.53 in Q1 2021[18] - Basic and diluted earnings per share for Q1 2022 were both ¥0.10, down from ¥0.13 in Q1 2021[20] Assets and Equity - Total assets increased by 6.21% to CNY 3,928,455,711.58 compared to the end of the previous year[7] - Total assets as of the end of Q1 2022 were ¥3,928,455,711.58, compared to ¥3,698,804,482.87 at the end of Q1 2021[14] - Shareholders' equity attributable to shareholders rose by 42.25% to CNY 1,666,694,575.89[7] - Total equity increased to ¥1,811,812,777.11 in Q1 2022, up from ¥1,315,100,716.09 in Q1 2021[14] Cash Flow - Cash flow from operating activities was negative at CNY -102,965,928.69, indicating a significant cash outflow[3] - In Q1 2022, the cash inflow from operating activities was approximately $274.02 million, a decrease of 9.2% compared to $301.86 million in Q1 2021[21] - The net cash outflow from operating activities was $102.97 million, worsening from a net outflow of $63.33 million in the same period last year[21] - The cash inflow from financing activities was $572.21 million, significantly increasing from $278.16 million in Q1 2021, representing a growth of 105.6%[22] - The net cash flow from investing activities was negative at $33.11 million, an improvement from a net outflow of $106.82 million in Q1 2021[22] - The total cash and cash equivalents at the end of Q1 2022 stood at $487.59 million, up from $158.97 million at the end of Q1 2021, indicating a substantial increase[22] Expenses - Total operating costs for Q1 2022 were ¥161,251,931.17, down 6.67% from ¥173,062,563.72 in Q1 2021[17] - Research and development expenses increased to ¥9,558,802.33 in Q1 2022, up 74.59% from ¥5,491,979.72 in Q1 2021[17] - The cash paid for purchasing fixed assets and other long-term assets was $25.48 million, a decrease from $109.57 million in Q1 2021[22] - The company paid $111.05 million in debt repayment, slightly increasing from $109.85 million in the same quarter last year[22] Other Financial Information - The company reported non-recurring gains of CNY 217,771.33 after tax, primarily from asset disposals and government subsidies[5] - The total number of ordinary shareholders at the end of the reporting period was 14,086[6] - Long-term borrowings were ¥705,574,667.63 in Q1 2022, slightly down from ¥708,009,487.92 in Q1 2021[14] - The company received $479.19 million from investment activities, a notable increase compared to $2.75 million in the previous year[22] - The cash inflow from other financing activities amounted to $48.25 million, contributing to the overall increase in financing cash flow[22] - The company reported a negative impact of $16.39 thousand from exchange rate fluctuations on cash and cash equivalents[22]

Financial Performance - The net profit attributable to the parent company for 2021 was CNY 164,194,271.87, with the parent company achieving a net profit of CNY 60,962,191.50[6] - The company's operating revenue for 2021 was approximately ¥1.46 billion, a decrease of 10.02% compared to ¥1.62 billion in 2020[26] - Net profit attributable to shareholders increased by 19.30% to approximately ¥164.19 million in 2021 from ¥137.63 million in 2020[26] - The basic earnings per share rose to ¥0.81 in 2021, reflecting a 19.12% increase from ¥0.68 in 2020[27] - Cash flow from operating activities significantly decreased by 80.33% to approximately ¥62.79 million in 2021, down from ¥319.17 million in 2020[26] - The company's operating costs decreased by 17.92% to 958 million RMB, mainly due to the corresponding reduction in costs following the decline in operating revenue[50] - The net cash flow from operating activities was 63 million RMB, a significant decrease of 80.33% compared to the previous year, primarily due to delayed payments from local governments and prolonged approval processes[51] - The gross margin for the year was reported at 35%, a slight increase from 33% in the previous year[119] Dividend and Profit Distribution - The company plans to distribute a cash dividend of CNY 1.93 per 10 shares, totaling CNY 49,276,659.64 to all shareholders[6] - The company has reported a distributable profit of CNY 54,865,972.35 after allocating 10% of the parent company's net profit to statutory surplus reserves[6] - The company has a cash dividend policy that emphasizes stable and sustainable profit distribution, prioritizing cash dividends while considering operational needs[144] - The company plans to distribute cash dividends if it achieves profits after covering losses and allocating statutory reserves, with a minimum cash distribution of 10% of distributable profits[147] Risk Management - There are no significant risks that could materially affect the company's operations during the reporting period[11] - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[8] - The company has outlined potential risks in its future development discussions, which investors should be aware of[11] - The company emphasizes environmental risk assessment and has implemented practical accident prevention measures to enhance emergency response capabilities[101] Strategic Initiatives - The company is actively pursuing a strategic shift towards the Yangtze River Economic Belt, aiming to leverage opportunities in environmental protection and resource utilization[34] - The company has initiated a mixed-ownership reform with the Yangtze Environmental Protection Group, which has become the largest shareholder, marking a significant opportunity for growth[34] - The company aims to enhance its position as a leading environmental technology enterprise by focusing on three major technology systems and expanding into new regional markets[34] - The company is actively responding to national policies promoting ecological civilization and resource utilization, aligning its strategies with the "carbon peak and carbon neutrality" goals[42] Research and Development - The company maintained strong innovation capabilities, focusing on three major technology systems related to water treatment and environmental management[46] - The total R&D expenditure was CNY 49.99 million, which is 3.42% of operating revenue, reflecting a decrease from the previous year[63] - The company has established a joint research center with Tsinghua University focusing on environmental infrastructure, indicating a commitment to innovation and technology development[66] - The company applied for 36 new patents in 2021, including 7 invention patents, and received 39 patent grants, including 8 invention patents[67] Market Presence and Expansion - The company has established subsidiaries in Jiangsu, Zhejiang, and Hubei to expand its market presence in the Yangtze River Basin, aiming for a total investment of no less than 5 billion yuan in cooperation projects with the Yangtze Environmental Protection Group[35] - The company is exploring international markets for expansion, particularly in Europe and North America[115] - The company plans to expand its market presence while leveraging proprietary technologies to enhance profitability in the environmental sector[56] - The company is actively involved in various environmental services, including urban sewage treatment and industrial wastewater management, with a strong reputation in sectors like automotive and chemical industries[45] Governance and Management - The board of directors and supervisory board members have all attended the board meeting, ensuring the report's authenticity and completeness[4] - The company has established a comprehensive internal control system to enhance management effectiveness and risk prevention, focusing on financial data analysis and fund usage supervision[154] - The company has completed the election of a new board of directors in March 2021, addressing previous governance issues related to independent directors[157] - The company is committed to improving communication with independent directors to ensure better oversight and understanding of daily operations[156] Financial Health and Assets - Total assets increased by 17.62% to approximately ¥3.70 billion at the end of 2021, compared to ¥3.14 billion at the end of 2020[26] - Cash and cash equivalents increased to $290.31 million, representing 7.85% of total assets, up 24.71% from the previous period[71] - Accounts receivable rose to $651.94 million, accounting for 17.63% of total assets, a 49.21% increase compared to the last period[71] - The company reported a significant increase in net assets and share capital following the completion of its initial public offering, although short-term indicators like earnings per share may experience a decline due to the implementation cycle of fundraising projects[174] Compliance and Audit - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[5] - The company has confirmed that there are no major accounting errors that require correction[189] - The company is committed to complying with the latest accounting standards as issued by the Ministry of Finance, ensuring transparency and accuracy in financial reporting[186] - The company appointed Lixin Certified Public Accountants (Special General Partnership) as the auditor for the 2021 fiscal year, with an audit fee of RMB 1.855 million and an audit tenure of 9 years[190]

2021 年第三季度报告 证券代码：603903 证券简称：中持股份 中持水务股份有限公司 2021 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 1 / 14 单位：元 币种：人民币 项目 本报告期 本报告期 比上年同 期增减变 动幅度(%) 年初至报告期 末 年初至报告期 末比上年同期 增减变动幅度 (%) 营业收入 272,593,789.84 -27.85 783,794,026.82 -10.52 归属于上市公司股东的 净利润 25,409,317.98 8.98 94,939,496.41 17.63 归属于上市公司股东的 扣除非 ...

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 511,200,236.98, representing a 2.61% increase compared to CNY 498,174,356.57 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2021 was CNY 69,530,178.43, which is a 21.15% increase from CNY 57,392,246.01 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 70,521,483.82, marking a 33.81% increase from CNY 52,704,382.89 year-on-year[18]. - Basic earnings per share increased by 21.43% to CNY 0.34 compared to the same period last year[19]. - Diluted earnings per share also rose by 21.43% to CNY 0.34 year-on-year[19]. - The weighted average return on equity increased by 0.51 percentage points to 6.68%[19]. - The return on assets, excluding non-recurring gains and losses, increased by 1.11 percentage points to 6.78%[19]. - The company achieved operating revenue of 511 million yuan in the first half of 2021, an increase of 2.61% compared to the same period in 2020[32]. - The net profit attributable to the parent company's shareholders was 69.53 million yuan, representing a growth of 21.15% year-on-year[32]. Cash Flow and Financial Position - The net cash flow from operating activities for the first half of 2021 was negative CNY 16,248,535.84, a significant decrease of 119.21% compared to CNY 84,574,092.11 in the same period last year[18]. - The company's cash and cash equivalents decreased by 34.20% to RMB 153,168,140.05 from RMB 232,791,201.85 at the end of the previous period[41]. - The company's short-term borrowings increased by 35.12% to RMB 484,193,493.72 from RMB 358,347,298.19 at the end of the previous period[42]. - The company's total liabilities decreased by 21.25% in accounts payable, indicating improved operational efficiency[42]. - The company's long-term equity investments increased by 4.97% to RMB 143,148,832.51 from RMB 136,367,608.37 at the end of the previous period[42]. - The company's total equity investment balance reached CNY 998.70 million, reflecting growth from new investments in joint ventures and increased investment income[47]. - The company reported a total of CNY 1.78 billion in restricted assets, primarily due to pledges for financing leases and long-term borrowings[45]. - The company’s cash flow stability is expected to improve post-project completion, but initial phases require substantial funding[52]. Business Strategy and Market Position - The company continues to focus on urban sewage treatment, industrial wastewater treatment, and comprehensive environmental governance as its main business areas[23]. - The company aims to enhance its market share through investments and acquisitions in the rapidly growing environmental protection industry[27]. - The company has established a business model combining operational services, environmental infrastructure construction, and comprehensive environmental governance[27]. - The company emphasizes technological innovation and has launched the "China Sewage Treatment Concept Plant" to address market needs[29]. - The company maintains strong customer loyalty and competitive advantages through its technical innovation and industry experience[29]. - The company is actively expanding into southern markets, establishing branches in Jiangsu, Zhejiang, and Shenzhen to support the "Yangtze River Protection" strategy[36]. - The company is involved in a PPP project for livestock manure resource utilization in the Yangtze River Delta, marking its first project in this area[37]. Research and Development - The company has developed a self-sustaining deep biological nitrogen removal technology, recognized as internationally leading, aimed at reducing carbon source dependency[34]. - The company has 172 patents, 43 registered trademarks, and 24 software copyrights, showcasing its strong technical support through independent research and development[34]. - Research and development expenses rose by RMB 4,099,000, or 36.40%, reflecting the company's active development of R&D projects[40]. Compliance and Governance - The company has committed to fair and transparent transactions with related parties, ensuring no conflicts of interest arise[80]. - There were no major penalties or compliance issues reported for the company or its executives during the reporting period, reflecting strong governance practices[83]. - The company has implemented practical accident prevention measures to mitigate environmental risks associated with increased regulatory scrutiny and operational compliance[55]. - The company is focused on enhancing emergency response capabilities and optimizing operational parameters to ensure stable compliance with environmental standards[55]. Shareholder and Investment Commitments - The company has proposed a three-year shareholder return plan for 2021-2023, indicating a commitment to returning value to shareholders[60]. - The company did not propose any profit distribution or capital reserve transfer plans for the first half of 2021, with no dividends or stock bonuses planned[64]. - The company will compensate for any losses caused to shareholders due to unfulfilled commitments[79]. - The company will not engage in any business activities that compete with its operations[79]. Financial Reporting and Accounting Policies - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance[142]. - The company’s accounting policies and estimates are aligned with its operational characteristics[145]. - The company recognizes expected credit losses for financial assets measured at amortized cost and those measured at fair value with changes recognized in other comprehensive income, considering past events and future economic forecasts[172].

Financial Performance - Operating revenue for the period was CNY 196,705,563.24, representing a year-on-year increase of 6.67%[6] - Net profit attributable to shareholders rose by 12.09% to CNY 25,842,293.99[6] - Basic earnings per share increased by 18.18% to CNY 0.13[6] - The company's operating revenue for Q1 2021 was ¥75,487,222.04, a decrease of 8.3% compared to ¥82,534,901.42 in Q1 2020[30] - The net profit for Q1 2021 was ¥29,409,187.53, slightly up from ¥29,248,717.65 in Q1 2020, representing a growth of 0.5%[29] - The total profit for Q1 2021 was ¥34,983,146.24, an increase of 2.4% from ¥33,187,829.66 in Q1 2020[28] - Research and development expenses for Q1 2021 were ¥5,491,979.72, up from ¥5,249,267.37 in Q1 2020, indicating a growth of 4.6%[28] - Financial expenses decreased to ¥12,658,100.27 in Q1 2021 from ¥15,652,967.27 in Q1 2020, a reduction of 19.1%[28] - The company reported investment income of ¥5,295,453.01 in Q1 2021, significantly higher than ¥2,415,870.35 in Q1 2020, marking a growth of 119.1%[28] - The basic earnings per share for Q1 2021 was ¥0.13, compared to ¥0.11 in Q1 2020, reflecting an increase of 18.2%[29] Cash Flow - The net cash flow from operating activities improved by 18.07%, amounting to CNY -63,326,988.84[6] - The net cash flow from financing activities was CNY 130,451,285.24, a significant increase compared to a negative CNY 29,787,264.15 in the previous period[13] - The net cash flow from operating activities for Q1 2021 was -113,337,651.95 RMB, an improvement from -147,845,610.60 RMB in Q1 2020, representing a 23.2% reduction in losses[37] - Cash inflow from operating activities totaled 251,753,435.40 RMB, up 36.5% from 184,513,725.09 RMB in the same period last year[37] - The company reported a net cash outflow from investing activities of -13,356,000.47 RMB, a significant decrease from a net inflow of 40,291,683.19 RMB in Q1 2020[37] - Cash inflow from financing activities was 177,521,854.72 RMB, compared to 96,000,000.00 RMB in Q1 2020, marking a 85.0% increase[38] - The net cash flow from financing activities was 61,340,665.32 RMB, a substantial increase from 6,856,752.20 RMB in the previous year[38] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,108,611,350.07, a decrease of 1.15% compared to the end of the previous year[6] - The company's total liabilities decreased to CNY 1,912,507,980.86 in Q1 2021 from CNY 1,980,691,068.04 in Q4 2020[21] - Total assets amounted to CNY 3,144,630,449.72, a decrease of CNY 11,146,346.57 compared to the previous period[41] - Current assets totaled CNY 1,235,982,405.02, reflecting a slight decrease of CNY 959,235.93[41] - Non-current assets were CNY 1,908,648,044.70, showing an increase of CNY 12,105,582.50[41] - Total liabilities reached CNY 1,980,691,068.04, down by CNY 11,146,346.57 from the last reporting period[42] - Current liabilities amounted to CNY 1,329,922,764.23, a decrease of CNY 4,122,481.21[42] - Non-current liabilities totaled CNY 650,768,303.81, decreasing by CNY 7,023,865.36[42] Shareholder Information - The total number of shareholders was 17,238 at the end of the reporting period[10] - The largest shareholder, Zhongzhi (Beijing) Environmental Development Co., Ltd., held 39,469,256 shares, accounting for 19.51% of total shares[10] - Total equity attributable to shareholders increased to CNY 1,060,428,856.77 in Q1 2021 from CNY 1,034,586,562.78 in Q4 2020[21] - Shareholders' equity was CNY 1,163,939,381.68, remaining stable compared to the previous period[42] Strategic Initiatives - The company signed a strategic cooperation agreement with Changjiang Ecological Environmental Group, targeting an investment of no less than CNY 5 billion in cooperation projects[14] - The company is actively addressing feedback from the China Securities Regulatory Commission regarding its non-public issuance project, indicating progress in compliance[13] Changes in Accounting Standards - The company implemented new leasing standards effective January 1, 2021, impacting financial reporting[43] - The company did not adjust prior comparative data for the new leasing standards implementation[48]

Financial Performance - The net profit attributable to the parent company for 2020 was CNY 137,630,805.46, with the parent company achieving a net profit of CNY 97,490,686.47[5]. - The company's operating revenue for 2020 was approximately ¥1.625 billion, representing a year-over-year increase of 21.56% compared to ¥1.337 billion in 2019[24]. - Net profit attributable to shareholders was approximately ¥137.63 million, up 23.87% from ¥111.11 million in 2019[24]. - The basic earnings per share for 2020 was ¥0.68, reflecting a 23.64% increase from ¥0.55 in 2019[25]. - The weighted average return on equity increased to 14.22%, up 1.39 percentage points from 12.83% in 2019[25]. - The net cash flow from operating activities was approximately ¥319.17 million, a 20.09% increase from ¥265.77 million in 2019[24]. - Total assets at the end of 2020 were approximately ¥3.145 billion, a 7.54% increase from ¥2.924 billion at the end of 2019[24]. - The company reported a significant decrease in cash and cash equivalents, down 45.36% to ¥232.79 million due to reduced net inflow from financing activities[43]. - The company achieved operating revenue of 1.625 billion yuan in 2020, an increase of 21.56% compared to 2019[49]. - The net profit attributable to shareholders was 137 million yuan, representing a growth of 23.87% year-on-year[49]. - The net cash flow from operating activities reached 319 million yuan, up 20.09% from the previous year[60]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 0.70 per 10 shares, totaling CNY 14,161,262.64 to all shareholders[5]. - The company has reported a distributable profit of CNY 87,741,617.82 after allocating 10% of the net profit to statutory surplus reserves[5]. - In 2020, the company distributed cash dividends of 0.70 RMB per share, with a total profit attributable to shareholders of 14,161,262.64 RMB[123]. - In 2019, the cash dividend was 0.77 RMB per share, with a total profit attributable to shareholders of 11,128,970.16 RMB[123]. - The profit distribution ratio for 2020 was 10.29%, while for 2019 it was 10.02%[123]. - The profit distribution policy emphasizes cash dividends, with a minimum cash distribution of 10% of the distributable profits each year, contingent on the absence of major investment plans[120]. Risk Management - There are no significant risks that could materially affect the company's operations during the reporting period[9]. - The company emphasizes the importance of investor awareness regarding investment risks related to forward-looking statements[6]. - The company has detailed potential risks in its report, which investors are encouraged to pay attention to[9]. - The company has implemented effective environmental risk management measures to enhance emergency response capabilities and ensure compliance with increasing environmental regulations[114]. Business Expansion and Strategy - The company expanded its business into urban environmental governance and high-end environmental technology, enhancing its diversified layout in the environmental protection industry[36]. - The company aims to enhance market share through investments and acquisitions, leveraging the rapid growth of the domestic environmental protection industry[39]. - The company is focusing on industrial park water environment control, driven by stricter regulations and increased demand for wastewater treatment solutions[41]. - The company is actively involved in rural environmental governance, addressing issues such as domestic sewage and waste management to support rural revitalization efforts[38]. - The company has established a business model combining operational services, environmental infrastructure construction, comprehensive environmental governance, and technology product sales to drive growth[39]. Research and Development - The company has accumulated 146 patents, 36 registered trademarks, and 24 software copyrights by the end of the reporting period[53]. - The company is focused on the development of non-carbon source-dependent deep biological nitrogen removal technology, achieving international leading standards[52]. - Research and development expenses increased by 33.36% to 55.73 million RMB, reflecting the company's commitment to innovation[64]. - The company is increasing R&D investments in areas such as water resource recovery and advanced nitrogen and phosphorus removal technologies[108]. Corporate Governance - The company has established a structured internal control management system for engineering projects to ensure quality and safety, with no major safety incidents reported during the period[93]. - The company has a dedicated remuneration and assessment committee to oversee the compensation of directors and senior management[195]. - The board of directors must consider independent directors' opinions when formulating cash dividend proposals, ensuring transparency and accountability in the decision-making process[118]. - The company continues to maintain a strong governance structure with independent directors and a diverse management team[192]. Market Conditions and Trends - The demand for urban sewage treatment facility upgrades is expected to accelerate, supported by national policies aimed at improving sewage collection and treatment infrastructure[41]. - The government is providing strong support for the environmental protection industry, which is expected to drive the development of the wastewater treatment sector[84]. - The company is experiencing increased demand for wastewater treatment services due to urbanization and economic growth, with urban water demand expected to reach approximately 132 billion cubic meters by 2030[83]. - The market-oriented reforms are expected to create a favorable operating environment for the wastewater treatment industry, enhancing competition and innovation[84]. Shareholder Information - The total number of ordinary shareholders increased from 15,559 to 16,943 during the reporting period, representing a growth of approximately 8.9%[170]. - The largest shareholder, Zhongzhi (Beijing) Environmental Development Co., Ltd., holds 49,336,556 shares, accounting for 24.39% of the total shares[172]. - The second-largest shareholder, Ningbo Hangzhou Bay New Area Renbao Yuanwangqi Dike Equity Investment Center, holds 20,672,575 shares, representing 10.22% of the total shares[172]. - The company has commitments from major shareholders regarding share transfer restrictions for a period of 36 months post-IPO[125]. Compliance and Legal Matters - The company has not faced any penalties from securities regulatory agencies in the past three years, indicating compliance with regulations[198]. - There were no major lawsuits or arbitration matters involving the company during the reporting period[138]. - The company has not reported any changes in the actual controller through trusts or other asset management methods[180]. Employee and Management Structure - The total number of employees in the parent company and major subsidiaries is 1,276, with 536 in the parent company and 740 in subsidiaries[199]. - The company employs 701 production personnel, 60 sales personnel, 201 technical personnel, 45 financial personnel, and 269 administrative personnel[199]. - The company has established a series of salary levels and models to attract and retain talent, ensuring internal fairness and external competitiveness in its compensation system[200]. - The company’s management team has extensive experience in environmental management and finance, enhancing its operational capabilities[191].

Financial Performance - Operating revenue for the first nine months rose by 27.18% to CNY 875,974,911.93 compared to the same period last year[5] - Net profit attributable to shareholders increased by 26.89% to CNY 80,706,959.51 year-on-year[5] - Basic earnings per share increased by 25.00% to CNY 0.40[5] - Total operating revenue for Q3 2020 reached ¥377.8 million, a 52.0% increase from ¥248.4 million in Q3 2019[28] - Net profit for Q3 2020 was ¥30.0 million, representing a 14.0% increase compared to ¥26.3 million in Q3 2019[30] - Total operating revenue for the first three quarters of 2020 was ¥875.9 million, a 27.1% increase from ¥688.7 million in the same period of 2019[28] - The company reported a total comprehensive income of CNY 62,093,874.09 for the first three quarters of 2020[38] Cash Flow - Net cash flow from operating activities surged by 123.75% to CNY 152,502,424.54 compared to the same period last year[5] - The net cash flow from operating activities improved significantly to ¥152,502,424.54, a 123.75% increase from ¥68,157,614.78[15] - Cash flow from operating activities generated a net amount of CNY 152,502,424.54, up from CNY 68,157,614.78 in the first three quarters of 2019[40] - Total cash inflow from operating activities reached ¥908,261,324.72, up 19.0% from ¥763,398,186.51 year-on-year[41] - Cash outflow from investing activities was ¥144,719,559.24, a decrease of 15.7% compared to ¥171,556,983.74 in the previous year[43] Assets and Liabilities - Total assets decreased by 2.88% to CNY 2,839,837,146.59 compared to the end of the previous year[5] - The company’s total liabilities decreased by 38.00% in other current liabilities to ¥37,817,241.09 from ¥60,996,978.41, mainly due to a reduction in accrued sales tax[13] - Total liabilities amounted to CNY 1,890,024,380.11, with current liabilities at CNY 1,348,136,377.42 and non-current liabilities at CNY 541,888,002.69[48] - Long-term equity investments increased to ¥126,928,632.20, a rise of 41.76% from ¥89,538,394.50, primarily due to new investments in joint ventures[13] - Cash and cash equivalents decreased from CNY 228,329,792.93 to CNY 82,654,910.48, a decline of about 63.8%[24] Equity - Net assets attributable to shareholders increased by 8.71% to CNY 977,382,114.09 year-on-year[5] - Total equity increased from CNY 1,034,151,727.10 to CNY 1,097,894,772.20, an increase of about 6.2%[20] - The company’s retained earnings increased from CNY 196,048,834.81 to CNY 247,013,738.74, an increase of about 26%[26] - The company’s capital reserve was recorded at CNY 399,499,627.88, supporting its equity base[48] Operational Efficiency - The weighted average return on equity improved by 1.05 percentage points to 8.59%[5] - Operating costs rose to ¥601,441,892.55, reflecting a 37.27% increase from ¥438,133,180.30, primarily due to the increase in revenue[13] - The company reported a significant decrease in employee compensation payable, down 89.15% to ¥3,432,246.36 from ¥31,647,594.31, due to the distribution of last year's year-end bonuses[13] - Research and development expenses for Q3 2020 totaled ¥12.1 million, a 5.2% increase from ¥11.5 million in Q3 2019[28] Investment Activities - Investment income surged by 191.78% to ¥8,387,232.96, compared to ¥2,874,528.38 in the previous period, mainly from increased returns from joint ventures[15] - Long-term borrowings were reported at CNY 364,519,672.88, contributing to the overall financial structure[48] - The company executed a new revenue recognition standard, adjusting pre-received payments from "prepayments" to "contract liabilities"[49]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 498,174,356.57, representing a 13.13% increase compared to CNY 440,368,274.73 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2020 was CNY 57,392,246.01, which is a 26.50% increase from CNY 45,369,607.00 in the previous year[19]. - The net cash flow from operating activities increased significantly by 98.26%, reaching CNY 84,574,092.11, compared to CNY 42,658,875.88 in the same period last year[19]. - Basic earnings per share for the first half of 2020 were CNY 0.28, up 21.74% from CNY 0.23 in the same period last year[20]. - The weighted average return on equity increased to 6.17%, up from 5.42% in the previous year, reflecting a 0.75 percentage point increase[20]. - The company reported a net profit of 4,687,863.12 RMB from non-recurring gains and losses, primarily driven by government subsidies of 5,788,748.88 RMB[24]. - The company’s total comprehensive income for the first half of 2020 was CNY 69,573,816.08, compared to CNY 59,490,660.32 in the first half of 2019, reflecting an increase of 16.5%[131]. Assets and Liabilities - The company's total assets as of the end of the reporting period were CNY 2,844,824,721.32, a decrease of 2.71% from CNY 2,924,176,107.21 at the end of the previous year[19]. - The net assets attributable to shareholders increased by 6.07%, amounting to CNY 953,717,438.12, compared to CNY 899,106,205.33 at the end of the previous year[19]. - The total liabilities decreased to ¥1,196,058,454.70 from ¥1,289,129,564.09, indicating a reduction of 7.2%[126]. - The total current liabilities were 1,232,046,601.38 RMB, a decrease from 1,348,136,377.42 RMB at the end of 2019[118]. - The total long-term borrowings decreased by 7.01% to ¥338,966,806.41, primarily due to repayments of maturing loans[55]. Operational Efficiency - The company has effectively implemented accounts receivable management policies, contributing to improved cash flow and operational stability[20]. - The net cash flow from operating activities increased by 98.26% to CNY 84,574,092.11, reflecting a focus on project quality and effective receivables management[49]. - The company’s cash flow from operating activities for the first half of 2020 was CNY 606,660,561.89, up from CNY 441,522,414.39 in the same period of 2019, indicating a growth of 37.4%[137]. - The company reported a credit impairment loss of CNY -8,320,600.10 for the first half of 2020, compared to CNY -996,913.33 in the same period of 2019[131]. Market Strategy and Growth - The company aims to enhance its market share through investments and acquisitions, leveraging the rapid growth of the domestic environmental protection industry[29]. - The company is focusing on comprehensive environmental governance, including black and odorous water treatment and rural environmental improvement[28]. - The company plans to enhance its market presence through strategic expansions and potential mergers and acquisitions in the upcoming quarters[148]. - The company plans to expand its market presence by launching two new products in the next quarter, aiming for a 15% increase in market share[157]. Research and Development - The company emphasizes technology innovation and has undertaken multiple national research projects, enhancing its technical capabilities and industry recognition[36]. - The company’s R&D expenses decreased by 24.56% to CNY 11,260,808.75, primarily due to disruptions in project development caused by the pandemic[48]. - Research and development efforts are ongoing, focusing on new product innovations to drive future revenue growth[148]. Shareholder and Capital Management - There were no plans for profit distribution or capital reserve transfer to increase share capital during the reporting period[5]. - The company plans to distribute cash dividends of 0.77 yuan per 10 shares, totaling approximately 11.13 million yuan, and will also increase capital by issuing 4 additional shares for every 10 shares held[96][97]. - The company does not plan to distribute profits or increase capital reserves in the first half of 2020, indicating a focus on reinvestment rather than shareholder returns[68]. - The company will publicly explain any failure to fulfill measures to offset the dilution of immediate returns at the shareholders' meeting[69]. Compliance and Governance - The company has committed to not transferring or entrusting the management of its shares during the lock-up period, ensuring compliance with the shareholding arrangement[71]. - The company will ensure compliance with legal regulations regarding share repurchase or increase[70]. - The company will bear compensation responsibilities for any losses caused to investors due to unfulfilled commitments[72]. - The company has no major litigation or arbitration matters during the reporting period[77]. Environmental and Social Responsibility - The company has established emergency response plans for environmental incidents, detailing response principles, organizational structure, and monitoring mechanisms[88]. - The company has implemented measures to mitigate environmental risks, including accident prevention strategies and enhanced monitoring of operational processes[66]. - The company is actively involved in the research and development of environmental pollution treatment technologies and related services[61].

2020 年第一季度报告 公司代码：603903 公司简称：中持股份 中持水务股份有限公司 2020 年第一季度报告 1 / 24 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要项 5 | | 四、 | 附录 8 | 2020 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 | 项目 | 本期金额 说明 | | --- | --- | | 非流动资产处置损益 | -13,180.69 | | 计入当期损益的政府补助，但与公 司正常经营业务密切相关，符合国 家政策规定、按照一定标准定额或 | 196,626.58 | | 定量持续享受的政府补助除外 | | | 除上述各项之外的其他营业外收入 | -78,123.43 | | 和支出 | | | 少数股东权益影响额（税后） | 33,736.64 | | 所得税影响额 | -26,936.11 | | 合计 | 112,122.99 | 2.2 截止报告期末的股东总数、前十名股东、前十名流通股东（或无限售条件股东）持股情况表 单位：股 | 股东总数（户） | | | | ...

Financial Performance - The net profit attributable to the parent company for 2019 was CNY 111,105,984.85, with the mother company achieving a net profit of CNY 35,664,870.54[5]. - The company's operating revenue for 2019 was CNY 1,336,814,679.10, representing a year-on-year increase of 29.28% compared to CNY 1,034,035,918.46 in 2018[23]. - The net profit attributable to shareholders for 2019 was CNY 111,105,984.85, which is a 19.94% increase from CNY 92,637,780.18 in 2018[23]. - The cash flow from operating activities significantly improved to CNY 265,768,396.22, a 620.69% increase compared to CNY 36,876,681.68 in 2018[23]. - The total assets at the end of 2019 reached CNY 2,924,176,107.21, marking a 21.73% increase from CNY 2,402,213,893.58 at the end of 2018[23]. - The basic earnings per share for 2019 was CNY 0.77, an increase of 18.46% from CNY 0.65 in 2018[24]. - The company reported a weighted average return on equity of 12.83% for 2019, up from 12.20% in 2018, reflecting an increase of 0.63 percentage points[24]. - In 2019, the company's net profit attributable to shareholders reached CNY 111.11 million, a nearly 20% increase compared to 2018[59]. - The net cash flow from operating activities improved significantly to CNY 265.77 million, an increase of CNY 22.89 million from the previous year[59]. - Total assets increased by 21.73% to CNY 2.92 billion, while net assets grew by 18.52% to CNY 1.03 billion[67]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of CNY 0.77 per 10 shares, totaling CNY 11,128,970.16, and to increase capital by issuing 4 additional shares for every 10 shares held, resulting in a total share capital of 202,344,912 shares[5]. - The profit distribution policy prioritizes cash dividends, with a minimum cash distribution of 10% of the distributable profits each year, contingent on the absence of major investment plans[151]. - In the case of significant investments exceeding 50% of the latest audited net assets or total assets, the company may adjust its cash dividend distribution accordingly[150]. - The company aims for a minimum cash dividend ratio of 80% during mature phases without major expenditures, and 40% if there are significant spending plans[151]. - The number of shares for cash dividends was 0.77 per 10 shares in 2019, compared to 0.90 in 2018, indicating a decrease in cash dividend distribution[159]. - The company did not propose a cash profit distribution plan despite having positive distributable profits for ordinary shareholders during the reporting period[160]. Operational Highlights - The company maintained a focus on technological innovation and customer service, achieving its best operating performance since its listing[34]. - The company operates in urban sewage treatment and industrial wastewater treatment, providing comprehensive pollution control services[35][37]. - The company emphasized project quality and improved accounts receivable management, leading to significantly better sales collection compared to the previous year[25]. - The company has established a business model combining operational services, environmental infrastructure construction, comprehensive environmental governance, and technology product sales, aiming for both short-term cash flow and long-term stable growth[39]. - The company has established a strong focus on industrial park and industrial business, recognizing the vast market potential in these areas[66]. - The company is actively involved in environmental pollution control and wastewater treatment, with a focus on expanding its market presence[121]. Research and Development - The company's R&D expenses rose by 25.52% to CNY 41.79 million, indicating a commitment to technological innovation[69]. - The company applied for 15 patents in 2019, including 5 invention patents, and received authorization for 35 patents, enhancing its technological competitiveness[87]. - The company is committed to continuous innovation in technology products, including specialized water treatment materials and integrated systems, to meet diverse customer needs[128]. - The company aims to become a leading environmental technology enterprise by focusing on technological innovation and application, enhancing core competitiveness through R&D in industrial park and groundwater pollution control technologies[125]. Risk Management - The company has not identified any significant risks that could materially affect its operations during the reporting period[8]. - The company emphasizes the importance of investor awareness regarding potential risks associated with forward-looking statements[6]. - The company recognizes the risk of intensified competition in the environmental sector, with numerous competitors seeking to enhance their technical capabilities and expand their market presence[132]. - The company emphasizes environmental risk management, implementing strict operational measures to avoid violations and potential penalties from regulatory bodies[139]. Capital Structure and Financing - The company has a legal reserve requirement of 10%, amounting to CNY 3,566,487.05, from the net profit of the mother company[5]. - The company has committed to ensuring the accuracy and completeness of its financial reports, as stated by its management team[4]. - The company has utilized bond financing to supplement capital for investment projects and working capital for engineering projects[116]. - The company has a structured process for profit distribution decisions, including independent board reviews and shareholder consultations to align with investor interests[144]. Shareholder Engagement - The board of directors must consider independent directors' opinions when formulating profit distribution plans, ensuring transparency and communication with minority shareholders[145]. - The company has committed to not transferring or entrusting the management of its shares for a period of 36 months from the date of its IPO, which will last until March 13, 2020[161]. - The company will ensure that any share reduction does not exceed the stipulated limits during the lock-up period[163]. Compliance and Governance - The company has established a comprehensive approach to environmental monitoring and emergency response to enhance operational stability and compliance[140]. - The company has implemented new accounting standards related to financial instruments starting from January 1, 2019, affecting the presentation of financial statements[170]. - The company has no major litigation or arbitration matters in the current fiscal year[175]. - The company has established a commitment to avoid any related party transactions that could harm its interests or those of its shareholders[167].