Financial Performance - The company's operating revenue for 2021 reached ¥3,182,629,526.44, representing a year-on-year increase of 52.41%[21]. - Net profit attributable to shareholders was ¥233,469,956.76, a slight decrease of 0.18% compared to the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥188,044,445.05, down 3.62% year-on-year[21]. - The net cash flow from operating activities decreased by 44.00% to ¥193,956,694.24, primarily due to increased cash payments for raw materials[24]. - The company's total assets increased by 10.98% to ¥3,917,600,289.03 compared to the end of 2020[21]. - The basic earnings per share for 2021 was ¥0.61, a decrease of 6.15% from the previous year[23]. - The company achieved a significant increase in coal sales revenue, which reached ¥127,543.03 million, up 85.73% year-on-year[32]. - The company reported a net profit of CNY 303.55 million, which remained stable compared to the previous year[42]. - The company achieved operating revenue of CNY 3,182.63 million, a year-on-year increase of 52.41%, with thermal power sales contributing CNY 1,843.28 million (up 35.06%) and coal sales contributing CNY 1,275.43 million (up 85.73%)[45]. - Operating costs amounted to CNY 2,776.34 million, reflecting a year-on-year increase of 62.92%, with thermal power costs at CNY 1,476.94 million (up 45.65%) and coal trade costs at CNY 1,253.91 million (up 87.5%)[46]. Governance and Compliance - The company received a standard unqualified audit report from Tianjian Accounting Firm[5]. - The company’s annual report was approved by all board members present at the meeting[4]. - The company has no violations of decision-making procedures for external guarantees[8]. - The company emphasizes compliance with governance standards and improving internal controls to protect shareholder interests[91]. - The company completed the election of a new board of directors, consisting of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[92]. - The company has established four specialized committees under the board: Audit Committee, Strategy and Decision-Making Committee, Nomination Committee, and Compensation and Assessment Committee, enhancing its governance structure[92]. - The board strictly adheres to information disclosure regulations set by the CSRC and Shanghai Stock Exchange, ensuring timely and accurate reporting to investors[93]. - The company has no significant differences from the regulations on corporate governance set by the CSRC[93]. - The company is committed to improving its governance practices and protecting investors' rights, aligning with relevant laws and regulations[93]. Risk Management - The company has outlined potential risks in the management discussion and analysis section of the report[8]. - The report includes a forward-looking statement risk declaration, indicating that future plans do not constitute a substantive commitment to investors[7]. - The company faces risks from macroeconomic fluctuations, which could impact industrial heat demand and profitability[87]. - Rising international energy prices may compress profit margins and increase operational pressures on downstream heat users[87]. - The company is committed to strengthening internal controls and improving operational efficiency to manage risks effectively[163]. Environmental and Social Responsibility - The company invested a total of 38.397827 million yuan in environmental protection in 2021[131]. - The company’s coal-fired power plants utilize circulating fluidized bed boilers and low-nitrogen combustion technology, ensuring compliance with emission standards[131]. - The environmental impact assessment for the ultra-low emission upgrade project of the 4 furnace at Hangzhou Linjiang Environmental Protection Thermal Power Co., Ltd. has been approved by local environmental authorities[133]. - The company has implemented a self-monitoring scheme for environmental compliance, with data recorded by qualified third-party institutions[135]. - The company strictly adheres to national and local carbon reduction regulations and has achieved significant results in carbon emission reduction efforts[139]. - The company is actively pursuing green and low-carbon technology innovations to facilitate transformation in high-emission industries[139]. Shareholder and Investor Relations - The company plans to distribute a cash dividend of RMB 1.80 per 10 shares (including tax) based on the number of shares entitled to the dividend on the record date[6]. - The company is focused on enhancing communication with investors, particularly small and medium-sized investors, through various channels[93]. - The company will take responsibility for any failure to fulfill commitments, including timely disclosure and compensation for investor losses[167]. - Major shareholders have pledged to adhere to commitments and will not receive dividends until obligations are met[167]. Strategic Initiatives and Future Outlook - The company aims to become a leading comprehensive clean energy service provider, focusing on core business and exploring new ventures[31]. - The company plans to explore new energy projects, including biomass thermal power and photovoltaic power generation, in line with national "dual carbon" policies[85]. - The company is considering strategic acquisitions to enhance its service offerings, with a budget of 300 million RMB for potential deals[101]. - The company plans to enhance customer engagement through digital platforms, targeting a 30% increase in online interactions[101]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by the end of 2023[106]. Operational Efficiency - The company aims to enhance operational efficiency through increased automation and digitalization, focusing on safety management and cost control[84]. - The company is focused on developing smart thermal power systems and promoting energy recycling initiatives to enhance operational efficiency[88]. - The company has successfully implemented a long-term coal procurement strategy to ensure stable supply and improve efficiency[36]. Related Party Transactions - The company reported a total of CNY 101,951,000 in related party transactions for 2021, with actual transactions amounting to CNY 75,827,040, indicating a significant variance due to factors such as raw material price changes and project delays caused by the pandemic[176]. - The company has no major litigation or arbitration matters for the year, indicating a stable legal standing[174]. - There were no significant non-operating fund occupations by controlling shareholders or related parties during the reporting period[171].

Financial Performance - The company's operating revenue for Q3 2021 was ¥755,238,883.34, representing a year-on-year increase of 32.05%[7] - The net profit attributable to shareholders for Q3 2021 was ¥55,649,661.16, a decrease of 22.77% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥46,737,852.31, down 24.78% year-on-year[11] - The basic earnings per share for Q3 2021 was ¥0.14, reflecting a decline of 30.46% compared to the previous year[11] - Total operating revenue for the first three quarters of 2021 reached ¥2,147,118,185.36, a 44.4% increase from ¥1,485,217,895.89 in the same period of 2020[34] - Net profit for the first three quarters of 2021 was ¥245,525,725.86, representing a 21.5% increase compared to ¥201,922,959.42 in 2020[34] - Earnings per share for the first three quarters of 2021 was ¥0.51, compared to ¥0.43 in the same period of 2020[36] Assets and Liabilities - The total assets at the end of Q3 2021 amounted to ¥3,747,301,327.12, an increase of 6.15% from the end of the previous year[11] - Total assets as of September 30, 2021, were RMB 3.75 billion, up from RMB 3.53 billion, indicating a growth of 6.1%[28] - The company’s total liabilities decreased to ¥1,495,445,264.46 from ¥1,635,641,582.35 year-over-year[34] - Total liabilities amounted to approximately ¥1,635.64 million, with current liabilities at ¥1,039.17 million and non-current liabilities at ¥596.47 million[48] - The company’s long-term borrowings stood at ¥422.16 million, indicating a significant portion of non-current liabilities[48] Cash Flow - The cash flow from operating activities for the year-to-date was ¥296,070,092.88, showing a decrease of 6.85% compared to the previous year[11] - Cash flow from operating activities for the first three quarters of 2021 was ¥2,335,070,302.05, an increase from ¥1,706,650,070.05 in 2020[36] - Operating cash inflow totaled CNY 2,369,334,058.29, an increase of 37.06% from CNY 1,729,194,392.33[40] - Net cash flow from operating activities was CNY 296,070,092.88, a decrease of 6.93% compared to CNY 317,914,744.02[40] Costs and Expenses - The decline in net profit was primarily due to the sharp increase in raw material coal prices and the lagging adjustment mechanism for steam prices[17] - Total operating costs for the first three quarters of 2021 were ¥1,951,105,313.82, up 44.4% from ¥1,350,657,132.93 in 2020[34] - Research and development expenses for the first three quarters of 2021 were ¥1,587,798.61, down from ¥2,418,998.41 in 2020[34] Equity - The equity attributable to shareholders increased to ¥1,851,536,216.45, up 20.99% year-on-year[11] - Shareholders' equity increased to ¥2,251,856,062.66 from ¥1,894,453,075.38 year-over-year[34] - The company’s retained earnings were reported at approximately ¥543.79 million, contributing to overall equity growth[48] - The company’s total equity increased due to retained earnings and capital reserves, reflecting positive operational performance[51] Market Conditions and Strategy - The company attributed the increase in operating revenue to a significant rise in coal prices and increased sales volume and prices of steam and electricity[17] - The company plans to continue monitoring market conditions and adjust its pricing strategies accordingly to mitigate the impact of rising costs[17] Current Assets and Liabilities - As of September 30, 2021, total current assets amounted to approximately RMB 1.29 billion, an increase of 24.5% from RMB 1.03 billion on December 31, 2020[24] - Cash and cash equivalents reached RMB 594.96 million, up from RMB 443.58 million, reflecting a growth of 34.2% year-over-year[24] - Accounts receivable increased to RMB 198.76 million from RMB 181.50 million, representing a rise of 9.5%[24] - Inventory grew to RMB 170.61 million, compared to RMB 140.36 million, marking a 21.5% increase[24] - The company’s total current liabilities include employee compensation payable of approximately ¥15.88 million and taxes payable of approximately ¥28.32 million[48]

Financial Performance - The company's operating revenue for the first half of the year reached ¥1,391,879,302.02, a 52.40% increase compared to ¥913,291,921.23 in the same period last year [25]. - Net profit attributable to shareholders increased by 62.33% to ¥133,531,912.05 from ¥82,257,988.27 year-on-year [26]. - The net profit after deducting non-recurring gains and losses rose by 82.20% to ¥114,746,444.28 compared to ¥62,978,855.01 in the previous year [25]. - Basic earnings per share increased by 60.87% to ¥0.37 from ¥0.23 year-on-year [25]. - The weighted average return on equity rose by 2.35 percentage points to 8.36% from 6.01% in the previous year [25]. - The company achieved operating revenue of CNY 1.39 billion, a year-on-year increase of 52.40% [40]. - Net profit attributable to the parent company was CNY 134 million, reflecting a year-on-year growth of 62.33% [37]. - The company reported a total profit for the first half of 2021 of CNY 195,957,879.27, significantly higher than CNY 116,200,879.16 in the previous year, showing an increase of about 68.5% [161]. Cash Flow and Financial Position - The company's cash flow from operating activities decreased by 13.87% to ¥156,089,732.10, primarily due to increased cash payments for raw materials as coal prices rose [28]. - The company's total assets grew by 5.72% to ¥3,732,151,599.19 compared to ¥3,530,094,657.73 at the end of last year [25]. - The total liabilities decreased to CNY 1,479,894,734.39 from CNY 1,635,641,582.35, indicating a reduction of about 9.6% [144]. - The company's cash and cash equivalents increased to CNY 669,218,502.46 from CNY 443,576,058.23, representing a growth of approximately 50.8% [141]. - The total current assets rose to CNY 1,292,504,355.56, up from CNY 1,034,721,336.89, marking an increase of around 24.9% [141]. - The company's retained earnings increased to CNY 677,326,638.31 from CNY 543,794,726.26, representing a growth of about 24.6% [147]. Risk Management - The company has outlined potential risks in the management discussion and analysis section, advising investors to be cautious [8]. - The company faces macroeconomic risks that could impact steam and electricity demand, particularly if economic fluctuations occur [52]. - Policy risks related to electricity pricing and energy regulations may affect the company's operational performance [52]. - The company is actively monitoring and managing risks associated with raw material price volatility, particularly coal, which is essential for its thermal power generation operations [52]. Environmental Compliance - The total environmental protection investment by the company's controlled enterprises for the first half of 2021 amounted to RMB 19.03 million [71]. - The company has implemented low-nitrogen combustion technology and multi-stage dust removal processes in its coal-fired power plants to meet emission standards [71]. - The company reported a total nitrogen oxide emission of 23.3 tons for the first half of 2021, which is within the allowable limit [70]. - The company has not exceeded the emission limits for sulfur dioxide and particulate matter at its facilities [71]. - The company has established emergency response plans for environmental pollution incidents, which have been filed with local environmental protection bureaus [72]. Corporate Governance - The report indicates that the board of directors and management guarantee the accuracy and completeness of the financial report, with no significant omissions or misleading statements [4]. - The company has confirmed that all board members attended the board meeting to approve the report [5]. - The company appointed Li Weiming as the general manager and Huang Guoliang as the deputy general manager and financial officer during the board meeting on July 29, 2021 [59]. - The company has established a second board of directors and supervisory board, with independent directors and employee representatives elected [59]. Shareholder Returns and Dividends - The company plans to distribute a cash dividend of RMB 1.80 per 10 shares based on the 2021 mid-year profit distribution plan, pending shareholder approval [6]. - The company has committed to not transferring or managing shares held prior to the IPO for a period of 36 months, with automatic extensions under certain conditions [83]. - The company has established a three-year dividend return plan to ensure stable returns for shareholders post-IPO [104]. Related Party Transactions - The company reported a total of 316,674,864.33 RMB in related party transactions, with 100% of the transactions priced at market rates [112]. - The company plans to reduce related party transactions and ensure fair pricing in unavoidable transactions, adhering to legal and regulatory requirements [89]. - The company will ensure that related party transactions do not harm the interests of the issuer and its shareholders [89]. Innovation and Technology - The company has obtained 20 new patents in the first half of the year, demonstrating its commitment to innovation [37]. - The company has successfully implemented circulating fluidized bed technology in 18 boilers across 5 power plants, enhancing energy efficiency [36].