Financial Performance - The company's operating revenue for 2021 was CNY 770,618,703.50, representing a 46.28% increase compared to CNY 526,804,519.43 in 2020[20] - The net profit attributable to shareholders for 2021 was CNY 124,561,132.13, a 14.05% increase from CNY 109,213,456.18 in the previous year[20] - The net profit after deducting non-recurring gains and losses was CNY 118,278,048.82, reflecting a 15.52% increase from CNY 102,386,021.27 in 2020[20] - The net cash flow from operating activities for 2021 was CNY 155,492,267.08, up 49.16% from CNY 104,246,066.06 in 2020[20] - The total assets at the end of 2021 were CNY 1,048,721,709.86, a 51.39% increase from CNY 692,732,034.66 at the end of 2020[20] - The net assets attributable to shareholders increased by 136.39% to CNY 847,215,935.14 from CNY 358,404,803.01 in 2020[20] - The company reported a basic earnings per share of RMB 0.75, an increase of 2.74% from the previous year[21] - The weighted average return on equity decreased to 22.98%, down 10.11 percentage points from the previous year[21] - The gross profit margin for main business was 24.49%, with main business revenue increasing by 45.92%[64] - The cost of sales rose to ¥577,128,749.72, a 58.00% increase year-on-year, primarily due to rising raw material prices[62] Operational Efficiency - The company implemented a smart power plant platform for real-time monitoring of equipment and production indicators, enhancing service quality[32] - The company maintained zero safety incidents throughout the year, achieving its production and operational goals[29] - The company has implemented energy efficiency management measures, resulting in a significant reduction in energy consumption and operating costs, with a notable decrease in energy consumption indicators throughout the year[33] - The company has established a prepayment system for steam sales, actively promoting this payment method among customers[48] - The company has implemented a biomass raw material management system and a prepaid steam purchase system to enhance operational efficiency[58] - The management team has focused on advanced management practices to improve operational efficiency and cost control[58] Environmental Impact - The company achieved ultra-low emissions for air pollutants, reducing SO2, NOX, and particulate matter emissions by 50%, 65%, and 50% respectively, significantly improving air quality in the Longyou region[56] - The company consumes approximately 140,000 tons of biomass fuel annually, equivalent to saving about 60,000 tons of standard coal, which greatly reduces pollutant emissions[56] - The company has a comprehensive environmental management system in place, including various waste management protocols[149] - The company has achieved 100% compliance in the disposal of general and hazardous waste, with all pollution sources equipped with treatment facilities[142] - The company’s wastewater treatment meets national and local discharge standards, with all wastewater being treated and reused without external discharge[143] - The company has maintained a stable and continuous operation of pollution prevention facilities, with no incidents of exceeding discharge limits during the reporting period[143] Market Position and Strategy - The company operates in the "Electricity, Heat Production and Supply" industry, specifically in "Combined Heat and Power" (CHP), which is recognized for its energy-saving benefits[35] - The company primarily engages in the combined heat and power business, supplying steam and electricity to various industries, including paper, textiles, and food processing[43] - The operational model is based on "heat determines electricity," ensuring that heating demands are prioritized in the generation of electricity[44] - The company has a strong regional monopoly as the only centralized heating provider in the northern area of Longyou Economic Development Zone, with stable long-term relationships with major clients[51] - The company is focusing on technology research and development, including a plan to independently modify a boiler to co-fire non-coal fuels, aiming to reduce coal usage[34] Risks and Challenges - The company faces risks related to the fluctuation of coal and biomass fuel prices, which significantly impact its overall gross margin[96] - The company is exposed to risks from concentrated operational regions, as its cogeneration business is primarily located within a specific area[94] - The company may face challenges in talent acquisition and retention as its asset and business scale increase significantly[97] - Changes in tax incentive policies could adversely affect the company's profitability if the VAT refund policy is altered[98] - The company’s management may struggle to adapt to rapid scale expansion, potentially weakening its market competitiveness[101] Governance and Compliance - The company has implemented strict information disclosure management systems to ensure the accuracy and completeness of information, with no insider trading incidents reported during the reporting period[110] - The company has not faced any penalties from securities regulatory authorities in the past three years[120] - The company has not reported any significant differences in governance compared to regulatory requirements, ensuring compliance with legal standards[110] - The company has established a dedicated board secretary to manage information disclosure and shareholder inquiries[110] - The company continues to follow the Shanghai Stock Exchange's listing rules and its own articles of association in its operations[110] Employee Management - The company has a total of 215 employees, with 146 in the parent company and 69 in major subsidiaries[128] - The employee composition includes 120 production personnel, 36 technical personnel, 8 financial personnel, and 51 administrative personnel[128] - The company has established a salary management system that includes basic salary, performance salary, overtime pay, seniority allowance, and attendance bonuses[129] - The company provides both statutory benefits and special benefits, including social insurance and holiday welfare[129] - The company has implemented a comprehensive training program to enhance employee skills and competencies, focusing on both internal and external training[131] Shareholder Commitments - The controlling shareholders have committed to a voluntary lock-up period of 36 months from the date of the company's stock listing, during which they will not transfer or manage their shares[158] - If the stock price falls below the IPO price for 20 consecutive trading days within 6 months post-listing, the lock-up period will automatically extend by 6 months, totaling 42 months[161] - The company will ensure compliance with the stabilization commitments and accept supervision from regulatory bodies and investors[166] - The lock-up commitments also apply to close relatives of the controlling shareholders, ensuring a consistent approach to share management[162] - The company commits to implementing stock price stabilization measures if the stock price falls below the audited net asset value per share for 20 consecutive trading days within three years post-IPO[169]

Financial Performance - The company's operating revenue for Q3 2021 was ¥166,043,179.67, representing a year-on-year increase of 28.62%[4] - The net profit attributable to shareholders for the same period was ¥25,241,243.70, showing a decrease of 21.23% compared to the previous year[4] - The net profit after deducting non-recurring gains and losses was ¥22,260,872.23, down 25.85% year-on-year[4] - Total revenue for the first three quarters of 2021 reached ¥507,931,792.99, a 40% increase compared to ¥362,586,903.33 in the same period of 2020[18] - Net profit for the first three quarters of 2021 was ¥89,918,720.27, compared to ¥78,652,653.09 in the previous year, reflecting a growth of approximately 14.4%[20] - Total revenue for the first three quarters of 2021 reached ¥446,596,303.70, a significant increase from ¥296,005,499.94 in the same period of 2020, representing a growth of approximately 50.9%[22] Assets and Equity - The total assets at the end of the reporting period reached ¥931,484,895.54, an increase of 34.47% compared to the end of the previous year[5] - The equity attributable to shareholders increased by 126.72% year-on-year, amounting to ¥812,573,523.28[5] - Total assets as of September 30, 2021, were ¥931,484,895.54, an increase from ¥692,732,034.66 at the end of 2020[16] - Current assets increased significantly to ¥467,840,188.59 from ¥200,439,235.67 at the end of 2020[16] - The company's equity attributable to shareholders increased to ¥812,573,523.28 from ¥358,404,803.01, indicating strong growth in shareholder value[16] Earnings and Returns - The basic earnings per share for Q3 2021 was ¥0.15, a decrease of 28.57% compared to the same period last year[5] - The company reported a basic and diluted earnings per share of ¥0.58 for Q3 2021, compared to ¥0.52 in Q3 2020, reflecting an increase of 11.5%[21] - The weighted average return on equity decreased by 55.91% to 4.53%[5] Cash Flow - The cash flow from operating activities for the year-to-date period was ¥76,850,022.04, down 40.09% year-on-year[4] - Net cash flow from operating activities for the first three quarters of 2021 was ¥76,850,022.04, down from ¥128,274,963.78 in the previous year[23] - Cash inflows from operating activities totaled ¥459,086,982.88, compared to ¥308,308,643.80 in the same period of 2020, showing a growth of approximately 48.9%[22] - Total cash outflows from operating activities were ¥382,236,960.84, up from ¥180,033,680.02 in the previous year, indicating increased operational expenditures[22] - The company reported cash outflows for investment activities of ¥132,265,857.17, compared to ¥56,209,093.70 in the same period of 2020, reflecting increased investment activities[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 25,521[10] - The company successfully completed its initial public offering, raising a total of ¥419 million, with a net amount of ¥364.25 million after expenses[12] Financial Management - The company reported a decrease in financial expenses to ¥4,185,541.73 from ¥8,210,837.15, reflecting improved cost management[19] - The company's cash and cash equivalents rose to ¥178,210,923.56 from ¥32,720,488.09, showing a substantial increase in liquidity[15] - Current liabilities decreased to ¥107,529,854.71 from ¥321,779,625.78, indicating improved liquidity[16] - Cash and cash equivalents at the end of Q3 2021 totaled ¥178,210,923.56, up from ¥28,239,786.22 at the end of Q3 2020, indicating a substantial increase in liquidity[23] Research and Development - The company’s research and development expenses were not explicitly detailed but are part of the overall operating costs, indicating ongoing investment in innovation[19]