Financial Performance - Operating revenue surged by 139.72% to CNY 115,236,789.04 year-on-year[5] - Net profit attributable to shareholders rose by 186.17% to CNY 40,117,089.21 compared to the same period last year[5] - Basic earnings per share increased by 116.13% to CNY 0.67[5] - Revenue for Q1 2021 reached RMB 115,236,789.04, a 139.72% increase compared to RMB 48,071,442.99 in Q1 2020, driven by expanded operations and increased orders[12] - Gross profit for Q1 2021 was RMB 59,756,297.22, resulting in a gross margin of approximately 51.8%[12] - Operating profit for Q1 2021 was ¥46,457,876.75, representing a growth of 180.9% compared to ¥16,524,969.26 in Q1 2020[27] - The net profit for Q1 2021 reached CNY 40,117,087.16, representing a 186% increase from CNY 14,018,569.23 in Q1 2020[28] - The total profit for Q1 2021 was CNY 46,437,920.87, compared to CNY 16,514,335.34 in Q1 2020, indicating an increase of 181%[28] Research and Development - Research and development expenses accounted for 5.55% of operating revenue, a decrease of 0.31 percentage points from the previous year[5] - R&D expenses increased by 126.71% to RMB 6,390,393.54, reflecting greater investment in research projects[13] - Research and development expenses for Q1 2021 were ¥6,390,393.54, an increase of 126.5% compared to ¥2,818,743.57 in Q1 2020[27] - The company reported a significant increase in R&D expenses, totaling CNY 6,021,573.72 in Q1 2021, compared to CNY 2,537,926.28 in Q1 2020, reflecting a 137% increase[31] Cash Flow and Investments - Net cash flow from operating activities was negative at CNY -76,455,359.32, compared to CNY -29,377,378.66 in the previous year[5] - The company reported a net cash flow from operating activities of -71,942,871.16 RMB, compared to -26,613,355.09 RMB in Q1 2020, indicating a significant increase in cash outflow[37] - The total cash inflow from operating activities was 89,389,760.59 RMB, a substantial increase from 27,503,781.90 RMB in the same period last year[37] - The company recorded cash outflows from investing activities totaling 414,991,497.97 RMB, compared to 22,198,362.04 RMB in Q1 2020, reflecting a major increase in investment expenditures[37] - The investment activities generated cash inflow of CNY 413,962,210.75 in Q1 2021, a substantial rise from CNY 20,128,818.82 in Q1 2020[34] - The company received 400,000,000.00 RMB from investment recoveries, a significant increase from 20,000,000.00 RMB in Q1 2020[37] Assets and Liabilities - Total assets increased by 3.19% to CNY 1,692,620,240.77 compared to the end of the previous year[5] - The total assets as of March 31, 2021, were RMB 1,692,620,240.77, an increase from RMB 1,640,227,975.20 at the end of 2020[12] - Total liabilities increased to ¥214,816,254.07 in Q1 2021 from ¥179,054,955.92 in Q4 2020[24] - The company's equity attributable to shareholders rose to ¥1,320,948,122.35, up from ¥1,281,989,845.98 at the end of 2020[25] - Cash and cash equivalents decreased to ¥139,121,114.71 from ¥171,712,287.32 at the end of 2020, a decline of 18.9%[23] - Accounts receivable increased to ¥381,632,959.91, up 24% from ¥307,726,225.58 at the end of 2020[23] Shareholder Information - The total number of shareholders reached 5,126[10] - The largest shareholder, Hu Mingming, holds 38.67% of the shares, totaling 23,000,000 shares[10] Government Support - Government subsidies recognized in the current period amounted to CNY 388,750.84[8] Financial Ratios - The weighted average return on equity decreased by 1.94 percentage points to 2.80%[5]

Financial Performance - The company's operating revenue for 2020 was CNY 491.39 million, an increase of 65.52% compared to the previous year[21]. - The net profit attributable to shareholders for 2020 was CNY 192.78 million, representing a growth of 91.96% year-over-year[23]. - The total assets at the end of 2020 amounted to CNY 1.64 billion, an increase of 267.08% from the previous year[23]. - The basic earnings per share for 2020 was CNY 3.80, up 68.89% from CNY 2.25 in 2019[22]. - The company's net assets attributable to shareholders increased by 349.88% to CNY 1.41 billion by the end of 2020, largely due to the successful IPO[23]. - The main business revenue was CNY 488.95 million, accounting for 99.50% of total revenue, with significant contributions from blue-green algae governance technology integration at CNY 310.76 million[101]. - The company reported a total revenue of 49,964,600 RMB, with a net profit of 23,978,888.69 RMB and an operating profit of 26,602,722.68 RMB[83]. - The company achieved a total revenue of 491.39 million yuan, representing a year-on-year growth of 65.52%[120]. - The net profit attributable to shareholders reached 192.78 million yuan, with a year-on-year increase of 91.96%[120]. - The total assets of the company amounted to 1.64 billion yuan, reflecting a growth of 267.08% compared to the beginning of the year[120]. Cash Flow and Dividends - The company plans to distribute a cash dividend of 6.00 CNY per 10 shares, totaling approximately 35.68 million CNY (including tax) based on a total share capital of 59,470,000 shares as of December 31, 2020[5]. - The total cash dividend for 2020, including the mid-year distribution, amounts to RMB 59,470,000.00, reflecting a significant increase from RMB 20,070,000.00 in 2019[172]. - The cash dividend payout ratio for 2019 was 19.98%, while for 2018 it was 12.46%, indicating a trend of increasing shareholder returns[172]. - The company has a cash dividend policy that mandates a minimum of 10% of the distributable profit to be distributed as cash dividends annually, contingent on meeting specific conditions[166]. - In mature stages without significant capital expenditure, the company aims for cash dividends to constitute at least 80% of the profit distribution[166]. - The company plans to strengthen cash flow management in 2021 by enhancing accounts receivable collection and controlling cash outflows[107][108]. Research and Development - Research and development expenses accounted for 4.88% of operating revenue, an increase of 0.38 percentage points compared to the previous year[22]. - The total R&D investment for the year reached approximately ¥23.98 million, representing a 79.34% increase compared to the previous year, with R&D expenses accounting for 4.88% of total revenue[70][71]. - The company has been awarded a total of 58 patents, including 7 invention patents and 50 utility model patents, reflecting its strong focus on innovation and technology development[68][69]. - The number of R&D personnel increased to 47, representing 12.11% of the total workforce, with total R&D compensation amounting to 920.97 million RMB[86]. - The company developed a new mobile algae separation vehicle, which is efficient, compact, and suitable for multiple water bloom outbreak areas[82]. - The company is focusing on the development of a grid-based water quality monitoring system to effectively utilize water quality data and improve monitoring accuracy[82]. Operational Risks and Compliance - The company has outlined various operational risks and corresponding mitigation strategies in the report, emphasizing the importance of risk management[4]. - The company has confirmed that there are no violations of decision-making procedures regarding external guarantees[7]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties, ensuring financial integrity[7]. - The company has not faced any issues with a majority of directors being unable to guarantee the authenticity of the annual report[8]. - The company acknowledges the risk of seasonal fluctuations in performance, with revenue primarily recognized in the second half of the year due to project timelines[113][114]. - The company has not experienced significant bad debt losses, but faces potential risks related to the collection of accounts receivable due to the nature of its government and state-owned enterprise clients[117]. Market Position and Strategy - The company is positioned as a leader in the blue-green algae management industry, focusing on all segments of the eutrophic lake internal source governance sector, including investigation, diagnosis, algae management, sediment remediation, water quality improvement, ecological restoration, and biomass resource utilization[154]. - The company has established a comprehensive blue-green algae governance service system, integrating technology research and development, system design, equipment integration, and operational maintenance services[97]. - The company is actively expanding its technology and service offerings to include comprehensive lake governance solutions, moving beyond emergency response to address eutrophication issues[98]. - The company has developed key technologies such as deep well algae control and flexible dredging, which are being promoted for broader application in the market[157]. - The company plans to establish offices in Wuhan, Guangzhou, and Xiong'an New Area to strengthen local market development efforts[160]. Technology and Innovation - The company has achieved significant breakthroughs in key technologies such as integrated secondary enhanced flotation technology and efficient adjustable vortex well algae collection technology, which are now at an international leading level[66]. - The company has developed various technical equipment for blue-green algae management, including shore-based separation systems and mobile treatment devices, enhancing operational flexibility[35]. - The company has developed a comprehensive and effective mainstream technology route for blue algae governance, combining emergency response and preventive control measures[63][67]. - The company has integrated algae-water separation systems in over 20 algae-water separation stations nationwide, providing after-sales service and operational management[62]. - The company is exploring new materials for gas bags to enhance the durability and performance of its gas separation devices[82]. Shareholder Commitments and Governance - The company’s actual controller and major shareholders have committed to not transferring or managing their shares for a specified period following the stock issuance[176]. - The company emphasizes compliance with laws and regulations regarding shareholding and transfer, ensuring transparency in reporting shareholdings[182]. - Shareholders agree that any violation of commitments will result in the proceeds from share reductions being returned to the company[184]. - The company commits to not transferring or entrusting the management of shares held prior to the public offering for twelve months post-listing[179]. - Major shareholders commit to not transferring shares for two years after the lock-up period, with a maximum of 80% of their shares allowed for reduction each year thereafter[183].

Financial Performance - Operating revenue for the first nine months rose by 12.54% year-on-year, amounting to CNY 233,443,642.90[7] - Net profit attributable to shareholders increased slightly by 0.03% year-on-year, reaching CNY 75,325,978.61[7] - Total operating revenue for Q3 2020 was ¥102,584,828.99, an increase from ¥99,880,013.30 in Q3 2019, representing a growth of approximately 2.3%[27] - Net profit for Q3 2020 was ¥30,042,024.77, down from ¥40,485,023.64 in Q3 2019, indicating a decline of approximately 25.7%[28] - The company reported a total profit of ¥35,103,041.91 for Q3 2020, compared to ¥47,535,828.14 in Q3 2019, a decrease of approximately 26.2%[28] - The company’s operating revenue for Q3 2020 was approximately ¥94.77 million, representing a 22% increase compared to ¥77.67 million in Q3 2019[32] - Net profit for Q3 2020 was approximately ¥26.38 million, compared to ¥28.45 million in Q3 2019, reflecting a decrease of about 7%[34] Assets and Liabilities - Total assets increased by 220.71% year-on-year, reaching CNY 1,433,012,083.08[7] - Total liabilities stood at ¥137,703,657.60, slightly up from ¥132,802,361.86, indicating a marginal increase of about 4%[22] - Total assets as of Q3 2020 were ¥1,365,163,119.61, compared to ¥373,659,200.20 in the previous year, indicating a growth of about 265.5%[26] - Total liabilities as of Q3 2020 amounted to ¥124,860,111.82, compared to ¥104,854,940.62 in the previous year, showing an increase of about 19.1%[26] - Total liabilities reached CNY 132,802,361.86, with current liabilities at CNY 132,802,361.86[44] - Total equity reached 268,804,259.58, including 126,984,917.52 in undistributed profits[49] Shareholder Information - The total number of shareholders reached 3,870 by the end of the reporting period[10] - The largest shareholder, Hu Mingming, holds 38.67% of the shares, totaling 23,000,000 shares[10] - Shareholders' equity reached ¥1,295,308,425.48, a substantial increase from ¥314,027,690.09, reflecting a growth of approximately 312%[22] - Shareholders' equity totaled ¥1,240,303,007.79 in Q3 2020, significantly up from ¥268,804,259.58 in Q3 2019, marking an increase of approximately 461.5%[26] Cash Flow - The net cash flow from operating activities was negative at CNY -106,337,178.10, a decrease of 613.64% compared to the previous year[7] - Cash flow from operating activities for the first three quarters of 2020 was approximately ¥103.28 million, a decrease from ¥195.75 million in the same period of 2019[36] - The company reported a net cash flow from operating activities of -106,056,439.44 RMB for the first three quarters of 2020, compared to 22,344,297.77 RMB in the previous year[39] - The company raised 948,300,800.00 RMB through financing activities, leading to a net cash flow of 927,742,538.00 RMB after accounting for outflows[38] Research and Development - Research and development expenses accounted for 4.03% of operating revenue, up from 3.98%[8] - Research and development expenses for Q3 2020 were ¥3,718,163.67, slightly down from ¥4,300,102.41 in Q3 2019, a decrease of about 13.5%[27] - Research and development expenses for Q3 2020 were approximately ¥3.41 million, slightly down from ¥3.78 million in Q3 2019[32] Inventory and Receivables - Accounts receivable rose by 49.04% to ¥290,869,363.41, attributed to expanded business operations and increased revenue[14] - Inventory increased by 96.83% to ¥58,348,505.61, reflecting a higher number of orders and ongoing projects[15] - Accounts receivable increased to ¥290,869,363.41 from ¥195,167,638.04, representing a rise of approximately 49%[20] - Inventory levels rose to ¥58,348,505.61, up from ¥29,643,877.78, marking an increase of around 97%[20] Capital and Investments - The capital reserve increased by 1146.91% to ¥994,641,695.99, mainly due to the increase in share premium from the IPO[16] - The company has made substantial investments in long-term equity investments, which increased to ¥43,907,800.00 from ¥33,000,000.00, representing a growth of about 33%[25] - Investment payments totaled 675,000,000.00 RMB, a substantial increase from 74,990,000.00 RMB in the previous period[40] Dividend and Profit Distribution - The company declared a cash dividend of ¥0.4 per share, totaling ¥23.788 million, as part of its 2020 semi-annual profit distribution plan[18]

Financial Performance - The company's operating revenue for the first half of the year reached ¥130,858,813.91, an increase of 21.66% compared to ¥107,559,308.12 in the same period last year[22]. - Net profit attributable to shareholders was ¥45,283,810.30, reflecting a growth of 30.05% from ¥34,821,408.11 year-on-year[25]. - The basic earnings per share increased to ¥1.02, up 30.77% from ¥0.78 in the previous year[24]. - The company's total assets at the end of the reporting period were ¥478,223,134.00, a 7.03% increase from ¥446,830,051.95 at the end of the previous year[22]. - The company's net assets attributable to shareholders increased to ¥359,311,500.39, a rise of 14.42% from ¥314,027,690.09 at the end of the previous year[22]. - The company reported a net cash flow from operating activities of -¥61,310,340.86, a decrease of ¥43,474,248.08 compared to the previous year[25]. - The company reported a total revenue of 49,964,600.00 RMB for the first half of 2020, with a net profit of 5,684,801.77 RMB, representing an increase of 8,308,635.76 RMB compared to the previous period[72]. - The company achieved a revenue of 130.86 million yuan in the first half of 2020, representing a year-on-year growth of 21.66%[88]. - The net profit attributable to shareholders reached 45.28 million yuan, with a year-on-year increase of 30.05%[88]. Dividend Distribution - The company plans to distribute a cash dividend of 4.00 RMB per 10 shares, totaling approximately 23,788,000.00 RMB (including tax) based on a total share capital of 59,470,000 shares as of July 31, 2020[6]. - The company has not implemented any capital reserve transfers or bonus shares in the current profit distribution plan[6]. - The profit distribution policy emphasizes a stable and reasonable approach, prioritizing cash dividends when conditions are met[168]. - The company aims to distribute at least 10% of the annual distributable profit as cash dividends, with higher percentages for mature companies without major capital expenditures[169]. - Cash dividends will be prioritized, with a minimum of 80% of the distribution for mature companies without major expenditures[170]. Research and Development - Research and development expenses accounted for 4.34% of operating revenue, an increase of 1.24 percentage points compared to 3.1% in the previous year[24]. - The total R&D investment for the period was ¥5,684,801.77, accounting for 4.34% of the operating revenue[60]. - The company has achieved a total of 40 patents, including 7 invention patents, 32 utility model patents, and 1 design patent[59]. - The company is focusing on four key R&D directions: blue algae and water environment research, lake eutrophication monitoring, algae-water separation technology, and resource utilization of algal sludge[80]. - The company has developed several core technologies, including integrated secondary enhanced flotation technology and efficient adjustable vortex algae collection technology, which are at the international or domestic leading level[57]. Operational Risks and Management - The company has outlined various operational risks and corresponding mitigation measures in the report, emphasizing the importance of risk management[4]. - The report includes a forward-looking statement risk declaration, indicating that future plans and strategies do not constitute a substantive commitment to investors[7]. - The company faces risks related to technological upgrades and seasonal fluctuations in performance, which could impact future profitability[93][94]. - The company has committed to minimizing or avoiding related party transactions and will adhere to market rules when such transactions are necessary[175]. Corporate Governance - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties during the reporting period[8]. - There are no violations of decision-making procedures regarding external guarantees reported[9]. - The company has not disclosed any special arrangements for corporate governance during the reporting period[7]. - The company has not engaged in any significant related party transactions during the reporting period[178]. - The company has not disclosed any major contracts or their performance during the reporting period[180]. Market Position and Future Outlook - The company continues to focus on the development and maintenance of integrated blue-green algae treatment technology and services as its main business model[30]. - The blue algae governance industry is in a rapid development phase, with increasing demand driven by environmental regulations and the need for improved water quality management[45]. - The company has a strong market presence, having been entrusted by local governments to operate and upgrade 27 algae-water separation stations across the country[82]. - The company has over 900 million yuan in hand orders as of the report date, indicating strong future revenue potential[91]. - The company is transitioning from a blue-green algae management service provider to a comprehensive service provider for lake eutrophication management[86]. Shareholder Commitments and Restrictions - Shareholders are restricted from transferring or managing their shares for twelve months following the IPO, and any reduction in shareholding must not exceed 25% of their total shares during their tenure as directors or senior management[130]. - The lock-up period for shareholders holding more than 5% of the company's shares is extended by six months if the stock price falls below the issue price for twenty consecutive trading days within six months post-IPO[125]. - The company has committed to ensuring that neither it nor its closely related family members will engage in any business activities that may compete with the company or its subsidiaries[174]. - The company has established a stock price stabilization plan that will be activated if the stock price falls below the latest audited net asset value per share for 20 consecutive trading days[139]. - The company will not allow the transfer of shares held by directors and senior management who fail to fulfill their stock purchase obligations until they comply with the commitments[147]. Environmental and Technological Innovations - The company aims to ensure the safety of drinking water sources by addressing blue algae outbreaks and improving water quality in eutrophic lakes, with a focus on proactive prevention and control measures[47]. - The company is developing a satellite remote sensing model to monitor water quality parameters such as total nitrogen, total phosphorus, COD, and chlorophyll a, with a focus on lakes and reservoirs[68]. - The company is committed to addressing the challenges of eutrophication in water bodies through innovative integrated solutions[66]. - The company has developed advanced environmental technology equipment, achieving over 99.99% removal efficiency for high-concentration algal slurry, contributing to ecological restoration efforts[79].