2023 年第一季度报告 证券代码：605162 证券简称：新中港 浙江新中港热电股份有限公司 2023 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 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。 公司负责人谢百军、主管会计工作负责人吴建红及会计机构负责人（会计主管人员）相韫策保证 季度报告中财务信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期增减 变动幅度(%) | | --- | --- | --- | | 营业收入 | 194,299,318.68 | -8.22 | | 归属于上市公司股东的净利润 | 10,209,597.17 | -59.30 | | 归属于上市公司股东的扣除非经常性 损益的净利润 | 9,808,590.60 | -60.77 ...

证券代码：605162 证券简称：新中港 公告编号：2023-023 浙江新中港热电股份有限公司 关于召开 2022 年度暨 2023 年第一季度业绩说明会的 公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 会议召开时间：2023 年 05 月 17 日(星期三) 上午 09:00-10:00 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 本次投资者说明会以网络互动形式召开，公司将针对 2022 年度 的经营成果及财务指标的具体情况与投资者进行互动交流和沟通，在 信息披露允许的范围内就投资者普遍关注的问题进行回答。 二、 说明会召开的时间、地点 （一） 会议召开时间：2023 年 05 月 17 日 上午 09:00-10:00 （二） 会议召开地点：上证路演中心 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 05 月 10 日(星期三) 至 05 月 16 日(星期 二)16:00 前登录上证路演中心网站首页点击"提问 ...

Financial Performance - Operating revenue for the first half of 2022 reached ¥479,546,859.55, an increase of 44.93% compared to ¥330,880,797.78 in the same period last year[17]. - Net profit attributable to shareholders increased by 17.87% to ¥70,228,937.95 from ¥59,583,299.04 year-on-year[17]. - Net cash flow from operating activities rose by 72.57% to ¥111,753,273.77, up from ¥64,756,882.78 in the previous year[18]. - Basic earnings per share decreased by 5.26% to ¥0.18 from ¥0.19 in the same period last year[16]. - The total profit for the same period was 93.89 million RMB, an increase of 18.06% year-on-year, while the net profit attributable to the parent company was 70.23 million RMB, up 17.87%[33]. - The company achieved a revenue of 479.55 million RMB in the first half of 2022, representing a year-on-year growth of 44.93%[33]. - The company reported a total comprehensive income of ¥70,873,997.96 for the first half of 2022, compared to ¥57,002,295.97 in the same period of 2021[145]. Assets and Liabilities - Total assets decreased by 8.13% to ¥1,253,789,079.35 from ¥1,364,705,804.95 at the end of the previous year[18]. - Net assets attributable to shareholders declined by 6.14% to ¥1,069,860,881.07 from ¥1,139,789,793.12 at the end of the previous year[18]. - The total current assets decreased from CNY 581,181,504.90 to CNY 476,314,831.10, representing a decline of approximately 18.06%[133]. - Total liabilities decreased from CNY 224,916,011.83 to CNY 183,928,198.28, a decline of approximately 18.19%[135]. - The equity attributable to shareholders decreased from CNY 1,139,789,793.12 to CNY 1,069,860,881.07, a reduction of approximately 6.12%[135]. Operational Efficiency - The comprehensive thermal efficiency of the company reached 85.7%, significantly exceeding the provincial standard of ≥80%[28]. - The company reported a unit heating standard coal consumption of 38.02 kg standard coal/GJ, which is better than the provincial standard of ≤39.6 kg standard coal/GJ[28]. - Operating costs increased by 61.13% to ¥374.65 million, primarily due to increased product sales volume and rising raw material prices[39]. - The company reported a net cash flow from operating activities of CNY 118,265,373.28 for the first half of 2022, an increase of 80% compared to CNY 65,735,501.14 in the same period of 2021[152]. Environmental Compliance - The company achieved significant environmental compliance, with total emissions of SO2 at 1.77 mg/m3, NOX at 19.5 mg/m3, and particulate matter at 1.14 mg/m3, all below the regulatory limits[61]. - The company is the first in Zhejiang Province to pass ultra-low emissions acceptance for its thermal power plant, meeting stricter standards than those required for natural gas plants[61]. - The company has implemented advanced pollution control technologies, resulting in no secondary pollution from desulfurization wastewater[63]. - The company continues to focus on environmental responsibility, with measures in place to reduce noise pollution and manage solid waste effectively[64]. Research and Development - Research and development expenses doubled to ¥7.58 million due to new project investments[39]. - The company has obtained 13 patents, including 2 invention patents, and has participated in the formulation of 4 industry standards[32]. - The company is focusing on developing additional energy products such as compressed air and industrial water to increase revenue and improve gross margins[27]. Shareholder Commitments - The controlling shareholder, Zhejiang Yuesheng Group, committed to not transferring or entrusting the management of shares for 36 months post-IPO[79]. - If the stock price falls below the IPO price for 20 consecutive trading days within 6 months post-IPO, the lock-up period will automatically extend by 6 months[80]. - The company has established measures to prevent related party transactions and conflicts of interest[80]. - The controlling shareholders have made a binding commitment to uphold the integrity of the company's operations and protect shareholder rights[103]. Legal Matters - The company is currently involved in a significant lawsuit regarding a monopoly pricing dispute with Shenzhou Haoyun Dyeing Co., with the claim amounting to RMB 59.41 million, which is under second-instance review[108]. - A settlement was reached with Zhejiang Guandong Dyeing and Garment Co. for a heat supply contract dispute, with the company to receive RMB 3 million in installments starting July 2022[112]. - The company has a pending claim against Zhejiang Tianle Group for RMB 25 million, with a court mediation agreement reached for repayment by July 16, 2021, but execution has resulted in a recovery of zero[109][110]. Market Position and Strategy - The company’s main business involves the production and supply of thermal and electric power through cogeneration, aligning with national policies that encourage this industry[22]. - The energy supply system in China is transitioning from coal-dominated to a diversified model, with renewable energy becoming a significant part of new power installations[23]. - The company is actively pursuing a green low-carbon transformation by coupling existing units with biomass and solid waste, aiming to reduce reliance on coal[36].

2022 年第一季度报告 证券代码：605162 证券简称：新中港 浙江新中港热电股份有限公司 2022 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务报表 信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期增减 变动幅度(%) | | | --- | --- | --- | --- | | 营业收入 | 211,699,619.30 | | 49.60 | | 归属于上市公司股东的净利润 | 25,087,022.20 | | 25.06 | | 归属于上市公司股东的扣除非经常 性损益的净利润 | 25,004,275.04 | ...

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 113,687,473.11 in 2021, a decrease of 27.74% compared to RMB 157,337,870.04 in 2020[6]. - Operating revenue for 2021 was RMB 770,843,823.61, representing a 35.00% increase from RMB 570,987,274.04 in 2020[22]. - The net cash flow from operating activities decreased by 45.91% to RMB 114,874,604.76 in 2021 from RMB 212,366,870.26 in 2020[22]. - The total assets of the company increased by 44.19% to RMB 1,364,705,804.95 at the end of 2021, compared to RMB 946,447,946.85 at the end of 2020[22]. - The net assets attributable to shareholders rose by 91.92% to RMB 1,139,789,793.12 at the end of 2021, up from RMB 593,883,704.97 at the end of 2020[22]. - The basic and diluted earnings per share were both 0.32 yuan, down 34.69% from 0.49 yuan in 2020[23]. - The weighted average return on equity decreased to 13.68%, down 15.72 percentage points from 29.40% in 2020[23]. - The gross profit margin declined significantly due to the sharp rise in coal prices while electricity prices remained unchanged[24]. - The company achieved a total operating revenue of 770.84 million yuan, representing a year-on-year growth of 35.00%[76]. - The net profit attributable to shareholders was 113.69 million yuan, a decrease of 27.74% compared to the previous year[76]. - The main business gross margin was 21.29%, down by 19.03 percentage points year-on-year[76]. Operational Highlights - The company sold 33,936.16 million kWh of electricity, an increase of 5.22% year-on-year, and sold 2.68 million tons of steam, up 12.34%[31]. - The company sold a total of 500,000 tons of carbon emission quotas through the national carbon trading system at a transaction price of 50 RMB/ton, resulting in a total transaction amount of 25 million RMB[33]. - The company completed the construction of a 220t/h subcritical new type circulating fluidized bed boiler and a 35MW back-pressure high-efficiency steam turbine generator set, significantly reducing coal consumption and environmental costs after production[32]. - The company has successfully replaced small boilers in the region with mid-pressure heating, achieving a historical high in mid-pressure heating supply while improving pipeline delivery capacity[34]. - The company’s new subcritical back-pressure heating unit has a 25% higher power generation capacity compared to supercritical units under the same heating conditions[38]. - The company’s projects align with national policies promoting energy conservation and the development of combined heat and power systems[39]. Environmental and Sustainability Initiatives - The company continues to strengthen internal controls and environmental management, ensuring compliance with emission standards and maintaining a good environmental credit status[32]. - The company is the first thermal power plant in Zhejiang Province to pass ultra-low emission acceptance, with coal-fired units meeting natural gas power plant emission standards[165]. - The company has implemented advanced pollution control technologies, including limestone desulfurization and low-nitrogen combustion, to effectively reduce emissions of SO2, NOX, and particulate matter[168]. - The company has achieved ultra-low emissions for all units, with nitrogen oxide emissions controlled through the installation of SCR modules, enhancing operational efficiency[174]. - The company has been awarded the "Green Enterprise" title by the Zhejiang Provincial Economic and Trade Commission and the Environmental Protection Bureau[177]. - The company has committed to a 36-month lock-up period for shares held by major shareholders following the IPO, with automatic extensions under certain conditions[184]. Strategic Plans and Future Outlook - The company plans to focus on energy-saving and low-carbon development strategies while expanding its heating pipeline network and improving operational efficiency[31]. - The company aims to achieve the goal of becoming a "regional comprehensive energy supply center" and "regional carbon neutrality center" within 3-5 years through increased R&D investment[98]. - The company plans to enhance its energy utilization efficiency and reduce carbon emissions through the operation of new projects, including the subcritical back-pressure heating units[54]. - The company plans to expand its market presence in Southeast Asia, aiming for a 30% market share by 2025[138]. - The management team emphasized a focus on sustainability, with a goal to reduce carbon emissions by 40% by 2025[138]. Governance and Compliance - The company has established a robust internal control system that meets the requirements of the Ministry of Finance and the China Securities Regulatory Commission, ensuring compliance and asset safety[162]. - The company has not faced any penalties from environmental authorities since passing the ultra-low emission acceptance in 2016, reflecting its compliance and operational efficiency[62]. - The company has not reported any significant risks or dissenting opinions from the supervisory board during the reporting period[151]. - The company has established a framework for ongoing compliance with its commitments to avoid conflicts of interest and ensure fair practices[188].

Financial Performance - The company's operating revenue for Q3 2021 was ¥184,915,675.32, representing a year-on-year increase of 27.43%[4] - The net profit attributable to shareholders decreased by 58.21% in Q3 2021, amounting to ¥19,592,391.63[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 63.12%, totaling ¥17,211,885.60[4] - Basic earnings per share for Q3 2021 were ¥0.05, down 66.67% compared to the same period last year[5] - Total operating revenue for the first three quarters of 2021 reached ¥515,796,473.10, a 33.0% increase from ¥387,482,403.36 in the same period of 2020[20] - Net profit for the third quarter of 2021 was ¥79,175,690.67, a decrease of 27.6% compared to ¥109,352,231.13 in the same quarter of 2020[22] - Earnings per share for the third quarter of 2021 were ¥0.23, down from ¥0.34 in the same quarter of 2020[22] Cash Flow and Liquidity - The cash flow from operating activities for the year-to-date period decreased by 98.91%, reaching ¥1,715,497.27[5] - Cash flow from operating activities for the first three quarters of 2021 was ¥1,715,497.27, significantly lower than ¥157,454,230.53 in the same period of 2020[23] - The company reported a net cash inflow from operating activities of ¥573,886,442.37 for the first three quarters of 2021[23] - The net cash flow from investment activities was -252,015,917.58 RMB, compared to -173,952,506.19 RMB in the previous period, indicating a significant increase in cash outflow[24] - The total cash inflow from financing activities reached 566,978,663.16 RMB, up from 254,000,000.00 RMB, reflecting a strong capital raising effort[24] - The net cash flow from financing activities was 266,119,609.70 RMB, a substantial increase from 34,711,590.09 RMB in the prior period[24] - The ending cash and cash equivalents balance was 203,926,634.60 RMB, compared to 194,498,982.26 RMB at the end of the previous period, showing a net increase of 15,819,189.39 RMB[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,334,275,711.21, an increase of 40.98% year-on-year[5] - The company's total assets as of September 30, 2021, amount to RMB 1,334,275,711.21, an increase from RMB 946,447,946.85 at the end of 2020[17] - Current assets increased to RMB 574,910,108.43 from RMB 375,918,541.18 year-over-year[16] - The total liabilities decreased to RMB 195,126,487.53 from RMB 234,567,999.31 year-over-year[17] - Total liabilities as of the end of the third quarter of 2021 amounted to ¥228,997,700.56, compared to ¥352,564,241.88 at the end of the previous year[18] - Total liabilities rose to 389,867,111.49 RMB, up from 352,564,241.88 RMB, indicating an increase of about 10.6%[28] Shareholder Information - The total number of common shareholders at the end of the reporting period is 32,997[12] - Zhejiang Yuansheng Group Co., Ltd. holds 74.67% of shares, totaling 299,021,050 shares[12] - The equity attributable to shareholders increased by 86.11% to ¥1,105,278,010.65[5] - Total equity attributable to shareholders reached ¥1,105,278,010.65, an increase from ¥593,883,704.97 in the previous year[18] - The company's total equity remained stable at 593,883,704.97 RMB, unchanged from the previous period[29] Operational Highlights - The increase in operating revenue was attributed to the expansion of heat users and increased sales of electricity and heat, despite rising coal prices[9] - The decline in net profit was primarily due to increased management costs and the inability to adjust electricity prices in response to rising coal costs[9] - The "Energy-saving and Emission Reduction Upgrade Project" was officially delivered for production on September 9, 2021[14] - The company incurred research and development expenses of ¥7,700.00 in the third quarter of 2021, compared to ¥0 in the same quarter of 2020[21] - The company achieved a net profit from a controlled entity merger of ¥3,675,426.75 in the current period, compared to a loss of ¥2,061,125.86 in the previous period[23] Investment and Financing - The company raised a net amount of ¥432 million through the issuance of 80,090,200 shares during the reporting period[10] - The company raised a total of RMB 48,614.75 million from its initial public offering, with a net amount of RMB 32,221.86 million after expenses[14] - The company's fixed assets increased significantly to RMB 586,361,781.78 from RMB 288,446,370.54[16] - The company's long-term investments are reported at RMB 10,661,106.81, slightly up from RMB 10,019,255.76[17] - The long-term borrowings stood at 100,133,451.39 RMB, consistent with the previous reporting period[28] - The company has adopted a new leasing standard, recognizing lease liabilities of 37,302,869.61 RMB[29]

Financial Performance - The company's operating revenue for Q3 2021 was ¥184,915,675.32, representing a year-on-year increase of 27.43%[5] - The net profit attributable to shareholders decreased by 58.21% to ¥19,592,391.63 compared to the same period last year[5] - The basic earnings per share (EPS) was ¥0.05, down 66.67% from the previous year[6] - Total operating revenue for the first three quarters of 2021 reached ¥515,796,473.10, a 33.0% increase from ¥387,482,403.36 in the same period of 2020[20] - Net profit for the first three quarters of 2021 was ¥79,175,690.67, a decrease of 27.6% compared to ¥109,352,231.13 in the same period of 2020[22] - Earnings per share for the first three quarters of 2021 were ¥0.23, down from ¥0.34 in the same period of 2020[22] Assets and Liabilities - The total assets increased by 40.98% to ¥1,334,275,711.21 compared to the end of the previous year[6] - Total assets increased to CNY 946,447,946.85 as of Q3 2021, up from CNY 983,750,816.46 at the beginning of the year, reflecting a growth in asset base[27] - Total liabilities as of the end of the third quarter of 2021 amounted to ¥228,997,700.56, a decrease from ¥352,564,241.88 at the end of 2020[20] - Total liabilities amounted to ¥352,564,241.88, a decrease of ¥37,302,869.61 from ¥389,867,111.49 in the previous period[28] - Non-current liabilities totaled ¥117,996,242.57, down from ¥152,259,991.53, reflecting a reduction of ¥34,263,748.96[28] Cash Flow - Cash flow from operating activities decreased by 98.91% to ¥1,715,497.27 for the year-to-date period[5] - Cash flow from operating activities for the first three quarters of 2021 was ¥551,905,415.42, an increase from ¥444,132,244.45 in the same period of 2020[23] - Operating cash inflow for Q3 2021 was CNY 573,886,442.37, an increase from CNY 492,029,783.35 in Q3 2020, reflecting a growth of approximately 16.5%[24] - Net cash outflow from investing activities was CNY -252,015,917.58, compared to CNY -173,952,506.19 in the same period last year, indicating a significant increase in investment expenditures[24] - Cash flow from financing activities generated a net inflow of CNY 266,119,609.70, up from CNY 34,711,590.09 in Q3 2020, showing a substantial increase in financing efforts[25] Inventory and Expenses - The company reported a significant increase in inventory and prepaid coal payments due to rising coal prices, impacting cash flow[10] - Inventory increased to RMB 44.24 million from RMB 33.00 million, indicating a growth of approximately 34% year-over-year[18] - Total operating costs for the first three quarters of 2021 were ¥413,829,104.09, up 58.2% from ¥261,482,229.36 in the previous year[20] - The company reported a decrease in sales expenses to ¥1,215,081.11 from ¥1,020,240.95 year-over-year[21] - Research and development expenses were reported at ¥7,700.00 for the first three quarters of 2021, compared to ¥0 in the previous year[21] Shareholder Equity - The equity attributable to shareholders rose by 86.11% to ¥1,105,278,010.65 compared to the end of the previous year[6] - Total equity attributable to shareholders reached ¥1,105,278,010.65, significantly up from ¥593,883,704.97 in the previous year[20] - The company maintained an undistributed profit of ¥226,298,013.32, consistent with the previous reporting period[28] - The capital reserve remained stable at ¥1,879,709.73, with no changes reported[28] Financing Activities - The company successfully raised net funds of ¥432 million through its initial public offering, which diluted earnings per share[10] - The company raised a total of RMB 480.61 million by issuing 80.09 million shares at a price of RMB 6.07 per share, with a net amount of RMB 322.22 million after deducting issuance costs[15] - The company received CNY 452,978,663.16 from investment inflows during the financing activities, indicating strong capital raising efforts[24] Operational Efficiency - The company reported a net cash flow from operating activities of CNY 1,715,497.27, a decrease from CNY 157,454,230.53 in Q3 2020, indicating a decline in operational efficiency[24] - Cash outflows for operating activities totaled CNY 572,170,945.10, significantly higher than CNY 334,575,552.82 in the previous year, suggesting increased operational costs[24] - The company paid CNY 36,744,571.46 in employee compensation, which is an increase from CNY 31,261,206.15 in Q3 2020, reflecting a rise in workforce expenses[24]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 330,880,797.78, representing a year-on-year increase of 36.52% compared to CNY 242,366,746.87 in the same period last year[17]. - The net profit attributable to shareholders of the listed company decreased by 4.62% to CNY 59,583,299.04, down from CNY 62,469,758.99 in the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 4.67% to CNY 59,338,645.52, compared to CNY 56,690,334.64 in the same period last year[17]. - The total profit amounted to 79.53 million yuan, a year-on-year decrease of 4.63%[39]. - The company achieved a comprehensive income total of ¥59,583,299.04, consistent with the net profit figure for the period[131]. - The total comprehensive income for the first half of 2021 was CNY 57,002,295.97, compared to CNY 63,824,695.08 in the same period of 2020, indicating a decrease of approximately 10%[134]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 45.40% to CNY 64,756,882.78, down from CNY 118,592,955.59 in the previous year[17]. - The company's cash and cash equivalents decreased by 47.99% to ¥97,842,385.69, compared to ¥188,121,171.27 at the end of the previous year[49]. - Cash inflows from operating activities amounted to CNY 381,885,140.09, an increase of about 13% from CNY 337,532,286.74 in the first half of 2020[135]. - The net cash flow from financing activities was negative at CNY -64,432,717.47, compared to a positive CNY 46,606,738.85 in the first half of 2020[136]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 961,696,112.85, a slight increase of 1.61% from CNY 946,447,946.85 at the end of the previous year[17]. - The total liabilities decreased to ¥308,229,108.84 from ¥352,564,241.88, a decline of about 12.6%[124]. - The company's retained earnings increased to ¥285,881,312.36 from ¥226,298,013.32, reflecting a growth of approximately 26.4%[124]. - The inventory increased by 46.89% to ¥48,474,786.80, reflecting higher coal prices[49]. Operating Costs and Profitability - The increase in operating costs was primarily due to a 58.80% rise in raw material costs, which outpaced the growth in operating revenue[19]. - Operating costs increased by 58.80% to ¥232,512,679.93, primarily due to a 44.22% rise in coal prices[45]. - The average procurement price of coal was 1,036.16 yuan/ton, an increase of 323.42 yuan/ton or 45.38% year-on-year[39]. - The company experienced a decrease in net profit due to the absence of non-recurring gains from government subsidies received in the previous year, amounting to CNY 7,414,400[19]. Environmental and Technological Initiatives - The company aims to reduce carbon emissions to levels comparable to natural gas combined cycle power plants, enhancing economic benefits through carbon trading[30]. - The company is the first in Zhejiang Province to pass ultra-low emission acceptance for its entire plant, significantly reducing operational costs and improving overall efficiency[34]. - The company has implemented energy-saving upgrades that are expected to further reduce coal consumption and improve environmental performance[40]. - The company has established an emergency response plan for environmental incidents, which has been filed with the local environmental protection bureau[70]. Shareholder and Governance Matters - The company has not distributed dividends or bonus shares for the reporting period, maintaining a profit distribution of 0[61]. - The controlling shareholder is obligated to increase their holdings if the stock price remains low after the buyback[84]. - The company will disclose any buyback plans within two trading days after the board's decision[86]. - The company has committed to not transferring or managing shares for 36 months post-IPO, ensuring stability in shareholding[78]. Legal and Regulatory Issues - The company is pursuing a claim of RMB 25 million against Zhejiang Tianle Group for bank loan repayment, with a court mediation agreement reached for repayment by July 16, 2021[96]. - The company is also involved in a heat supply contract dispute, claiming RMB 38.72 million in unpaid price differences and RMB 4.39 million in interest losses[97]. - The company has ongoing litigation regarding a monopoly pricing dispute, with a court ruling against the plaintiff, who has appealed[93]. Market Position and Competition - The company is the only public centralized heating enterprise in Shengzhou City, facing competition from 16 other thermal power plants in the surrounding area[30]. - The company has established a strong customer base with over 150 downstream clients, including major pharmaceutical companies and textile industries[35]. - The company anticipates continued growth in steam and electricity sales as the impact of the COVID-19 pandemic on downstream users diminishes[19]. Accounting and Financial Reporting - The financial statements are prepared based on the going concern assumption, with no significant doubts regarding the company's ability to continue operations for the next 12 months[155]. - The company follows specific accounting policies for bad debt provisions, fixed asset depreciation, and revenue recognition[156]. - The company does not have any significant events that would raise doubts about its ability to continue as a going concern[155]. - The company has not reported any major contracts or their performance during the reporting period[102].