Financial Performance - Net profit attributable to shareholders decreased by 26.17% to CNY 168,919,996.86 year-on-year[6] - Operating revenue for the first nine months was CNY 528,635,459.19, a slight increase of 0.62% compared to the same period last year[6] - Basic earnings per share dropped by 43.96% to CNY 0.51[7] - The gross profit margin for the reporting period was 40.80%, slightly down from 41.15% in the previous year[7] - Total operating revenue for Q3 2020 was approximately $195.99 million, a decrease of 1.4% compared to $199.42 million in Q3 2019[29] - Net profit for Q3 2020 reached approximately $63.49 million, representing a 12.5% increase from $56.38 million in Q3 2019[30] - Total profit for Q3 2020 was approximately $71.50 million, up from $67.04 million in Q3 2019, marking a 3.7% increase[30] - The company reported a total comprehensive income of approximately $63.49 million for Q3 2020, compared to $56.38 million in Q3 2019[31] Cash Flow - The net cash flow from operating activities decreased by 91.94% to CNY 16,721,032.34 compared to the same period last year[6] - The company's cash flow from operating activities decreased by 91.94% to RMB 16,721,032.34, primarily due to reduced sales receipts and increased material procurement costs[20] - The company reported a net cash flow from operating activities of ¥16,721,032.34 for the first three quarters of 2020, a decrease from ¥207,332,825.84 in the same period of 2019[36] - The total operating cash inflow for the first three quarters of 2020 was 372,570,208.61 RMB, down 36.7% from 588,766,643.32 RMB in the same period of 2019[39] - The company’s cash flow from investment activities generated a net cash inflow of 242,465,835.37 RMB in Q3 2020, compared to 34,780,550.08 RMB in Q3 2019, highlighting improved investment returns[40] Assets and Liabilities - Total assets increased by 4.6% to CNY 4,424,644,153.65 compared to the end of the previous year[6] - Total liabilities decreased by 48.26% for short-term borrowings, amounting to RMB 40,044,244.41, due to repayment of bank loans[19] - Current liabilities rose to CNY 744,815,505.92 from CNY 654,638,402.25, reflecting an increase of approximately 13.8%[22] - Total liabilities increased to CNY 1,145,608,109.61 from CNY 1,038,236,073.64, marking a growth of around 10.3%[23] - Shareholders' equity reached CNY 3,279,036,044.04, up from CNY 3,191,655,257.79, which is an increase of about 2.7%[23] - The total liabilities and shareholders' equity amounted to CNY 4,424,644,153.65, consistent with the total assets[23] Investment and Expenses - Research and development expenses accounted for 4.69% of operating revenue, a decrease of 0.21 percentage points year-on-year[7] - Financial expenses decreased by 41.82% to RMB 8,798,660.74, attributed to increased interest income[19] - The company reported a significant increase in other payables by 178.05% to RMB 11,527,046.08, indicating a rise in guarantee deposits[19] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[34] Inventory and Receivables - Inventory increased by 57.84% to RMB 474,914,602.28 from RMB 300,888,139.44, reflecting a rise in orders and ongoing projects[19] - Accounts receivable financing increased by 44.34% to RMB 44,571,346.53 compared to RMB 30,880,132.82 at the end of 2019[19] - Accounts receivable increased to CNY 108,179,235.83 from CNY 104,612,263.83, showing a growth of about 3.4%[26] Changes in Accounting Standards - The company executed a new accounting standard starting January 1, 2020, impacting the reporting of contract assets and liabilities[44] - The cumulative impact of the new revenue standard will adjust the financial statement amounts at the beginning of 2020, but prior period data will not be adjusted[50] - The company is classified as a domestic listed enterprise under the new revenue standard guidelines issued by the Ministry of Finance[50]

Financial Performance - The company reported a total revenue of RMB 100 million for the first half of 2020, representing a year-on-year increase of 15%[1]. - The company achieved operating revenue of CNY 332,646,018.53 in the first half of 2020, representing a 2.06% increase compared to the same period last year[18]. - Net profit attributable to shareholders decreased by 38.65% to CNY 106,099,091.77 compared to the previous year[18]. - Basic earnings per share dropped by 53.62% to CNY 0.32 compared to the same period last year[19]. - The company's total assets increased by 1.78% to CNY 4,305,175,813.67 compared to the end of the previous year[18]. - The company reported a total comprehensive income of approximately 106.1 million for the current period, compared to 1.26 million in the previous period, indicating a substantial increase[173]. - The total comprehensive income for the period amounted to 97,144,186.13 RMB[190]. - The total equity attributable to owners at the end of the period was 2,522,585,850.44 RMB[190]. Research and Development - Research and development efforts have led to the introduction of two new membrane technologies, expected to enhance efficiency by 25%[1]. - The financial report indicates a commitment to research and development, particularly in the production of key intermediates like 7-ACA and 6-APA for antibiotic manufacturing[11]. - The company has developed a comprehensive "RDPA" research and development system, emphasizing innovation in membrane materials and wastewater treatment processes[39]. - The company applied for 24 patents and was granted 9 patents during the reporting period, including 1 invention patent and 9 utility model patents[57]. - The total R&D investment for the period was ¥15,546,528.94, representing 4.67% of the operating revenue[59]. Market Expansion and Strategy - The company projects a revenue growth of 10% for the second half of 2020, driven by new product launches and market expansion strategies[1]. - The company is planning to expand its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2021[1]. - The company aims to expand its market presence through innovative water treatment solutions and strategic partnerships[12]. - The company is actively pursuing mergers and acquisitions as part of its growth strategy, aiming to strengthen its market position[174]. Operational Efficiency - The company has implemented cost-control measures that are expected to reduce operational expenses by 5% in the upcoming quarters[1]. - The company has established a strong operational framework, including BOT and TOT models, to enhance its wastewater treatment service offerings[12]. - The company emphasizes the importance of achieving high-quality recycled water standards through advanced treatment technologies[11]. - The company operates under a business model that includes providing integrated membrane technology solutions and ongoing operational support to clients[32]. Environmental Commitment - The company reported a significant focus on clean production methods to reduce pollution and improve resource utilization efficiency[11]. - The company is committed to maintaining its status as a key player in environmental protection within the water treatment sector[119]. - The company has established a comprehensive pollution prevention system across its subsidiaries to mitigate environmental impact[118]. - The company strictly adheres to national environmental protection laws and regulations, with no violations or pollution incidents reported during the reporting period[128]. Financial Health and Risks - The net cash flow from operating activities was negative at CNY -14,004,939.13, a decline of 107.22% from the previous year[18]. - The company faces risks related to technological upgrades and the need for continuous innovation in a competitive market, which could impact its market position and profitability[81]. - The company is aware of the potential volatility in investment returns from its long-term equity investment in Shandong Tianli Pharmaceutical Co., which may be influenced by market price fluctuations and operational performance[85]. Shareholder and Governance Matters - The controlling shareholder, Singapore San Da Membrane, committed to not transferring or entrusting the management of shares for 36 months post-IPO[99]. - The company commits to strictly follow the profit distribution policy approved by the shareholders' meeting, ensuring profit distribution to shareholders as per the company's articles of association and the three-year dividend return plan after listing[104]. - The company has established a plan to ensure compliance with share transfer restrictions[99]. - The company emphasizes the importance of protecting investor rights and will apologize for any non-compliance with commitments[102]. Technological Advancements - The introduction of microfiltration (MF), ultrafiltration (UF), nanofiltration (NF), and reverse osmosis (RO) technologies enhances the company's water treatment capabilities[12]. - The company has developed a range of membrane technology products, including nanofiltration cores, ceramic membranes, and hollow fiber membranes, which are leading in the industry[26]. - The company is currently developing several projects, including a flat composite nanofiltration membrane with a projected total investment of ¥2,500,000, which has achieved a permeation flux of over 40 LMH at 0.69 MPa pressure[61]. Compliance and Legal Matters - There were no significant litigation or arbitration matters during the reporting period[108]. - The company did not experience any bankruptcy reorganization matters during the reporting period[108]. - The company has not disclosed any significant contracts or their performance during the reporting period[112].

Financial Performance - Operating revenue for the current period was ¥133,788,301.28, representing a decrease of 11.67% year-on-year[6] - Net profit attributable to shareholders was ¥58,315,652.32, an increase of 9.74% compared to the same period last year[6] - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥47,855,800.09, a decrease of 5.74% year-on-year[6] - Basic and diluted earnings per share were both ¥0.17, down 22.73% from the previous year[6] - The company reported a 41.58% decrease in selling expenses, amounting to ¥2,849,278.54 from ¥4,877,403.73[14] - The financial expenses decreased by 54.41% to ¥2,513,306.32 from ¥5,512,362.82 due to increased interest income[14] - Total operating revenue for Q1 2020 was ¥19,814,760.10, a decrease of 59.8% compared to ¥49,238,181.80 in Q1 2019[26] - Net profit for Q1 2020 reached ¥8,878,547.33, up 21.1% from ¥7,334,595.06 in Q1 2019[27] - Total comprehensive income for Q1 2020 was ¥8,878,547.33, compared to ¥7,334,595.06 in Q1 2019, reflecting a growth of 21.1%[27] Assets and Liabilities - Total assets at the end of the reporting period reached ¥4,291,978,987.57, an increase of 1.47% compared to the end of the previous year[6] - The company's total assets amounted to ¥4,291,978,987.57, a slight increase from ¥4,229,891,331.43[20] - The total liabilities stood at ¥1,041,414,548.47, compared to ¥1,038,236,073.64 previously[19] - The company's total assets as of March 31, 2020, were CNY 2,938,799,659.87, slightly up from CNY 2,931,159,993.15 at the end of 2019[22] - Current assets totaled CNY 2,414,678,123.05, a marginal increase from CNY 2,406,536,054.54 at the end of 2019[22] - The total liabilities were recorded at 1,038,236,073.64 RMB, with current liabilities amounting to 654,638,402.25 RMB[37] - The company's total equity reached 3,191,655,257.79 RMB, indicating a stable equity position[37] Cash Flow - The company reported a net cash flow from operating activities of -¥22,452,386.62, a decrease of 147.71% compared to the same period last year[6] - The net cash flow from operating activities decreased by 147.71% to -¥22,452,386.62 from ¥47,063,896.51 due to the impact of the pandemic[14] - Investment activities generated a net cash flow of -¥213,597,442.94, an increase of 254.34% compared to -¥60,280,481.51[14] - Operating cash flow for Q1 2020 was negative at -¥22,452,386.62, compared to positive cash flow of ¥47,063,896.51 in Q1 2019[30] - Total cash inflow from operating activities was ¥137,721,123.03, down from ¥161,733,223.96 in Q1 2019[29] - The company incurred total cash outflow from investing activities of ¥919,985,752.63, compared to ¥60,280,481.51 in Q1 2019[30] Shareholder Information - The total number of shareholders at the end of the reporting period was 20,137[11] - The largest shareholder, 三达膜技术（新加坡）有限公司, held 43.36% of the shares[11] Research and Development - Research and development expenses accounted for 4.86% of operating revenue, an increase of 0.81 percentage points[6] - Research and development expenses for Q1 2020 were ¥3,860,405.61, an increase of 20.1% from ¥3,213,825.79 in Q1 2019[26] Inventory and Accounts Receivable - The company reported a decrease in accounts receivable to CNY 61,081,824.76 from CNY 104,612,263.83, a reduction of 41.6%[22] - Inventory increased to CNY 188,099,155.84, up 34.8% from CNY 139,432,749.66 at the end of 2019[22] - The company’s accounts receivable decreased by 81,113,213.62 RMB, indicating improved cash collection efforts[35] - The inventory level remained stable at 300,888,139.44 RMB, reflecting consistent stock management[36]

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the fiscal year, representing a 15% growth compared to the previous year[21]. - The company achieved operating revenue of CNY 742.01 million in 2019, a year-on-year increase of 25.78% compared to CNY 589.91 million in 2018[22]. - Net profit attributable to shareholders reached CNY 276.67 million, reflecting a 52.58% increase from CNY 181.32 million in the previous year[22]. - Basic earnings per share rose to CNY 1.07, up 48.61% from CNY 0.72 in 2018[23]. - The company's total assets increased by 76.35% to CNY 4.23 billion at the end of 2019, compared to CNY 2.40 billion at the end of 2018[22]. - The net assets attributable to shareholders surged by 122.44% to CNY 3.16 billion, up from CNY 1.42 billion in 2018[22]. - The cash flow from operating activities reached CNY 236.32 million, a significant increase of 134.99% compared to CNY 100.57 million in 2018[22]. - The company reported a diluted earnings per share of CNY 1.07, consistent with the basic earnings per share[23]. Dividend Policy - The company plans to distribute a cash dividend of 2.50 RMB per 10 shares, totaling approximately 83,470,000 RMB, which represents 30.17% of the net profit attributable to shareholders for 2019[4]. - The profit distribution plan for 2019 has been approved by the board and requires shareholder meeting approval for finalization[129]. - The company has committed to distributing at least 30% of its distributable profits as cash dividends in profitable years[127]. - The independent directors have reviewed and supported the profit distribution plan, ensuring the protection of minority shareholders' rights[129]. - The cumulative distributable profit of the parent company as of December 31, 2019, was approximately ¥550.43 million[128]. Research and Development - The company invested a total of ¥39,416,824.11 in R&D during the reporting period, which represents 5.31% of its operating revenue[63]. - The company applied for 35 patents and was granted 10 patents during the reporting period, including 3 invention patents and 7 utility model patents[62]. - The company has developed a series of high-performance composite membrane materials and advanced inorganic non-metallic membrane materials, including a high-strength zirconia ceramic ultrafiltration membrane with a particle size of 10-30nm[61]. - The company has established a comprehensive technology development platform based on a "target-oriented, reverse thinking" R&D principle, enhancing its core competitiveness through expanded R&D efforts[59]. - The company has focused on clean production processes and wastewater resource recovery technologies, developing innovative solutions for industries such as vitamins, starch sugars, and antibiotics[60]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[21]. - A strategic acquisition of a local competitor is in progress, which is anticipated to add an additional 200 million RMB in annual revenue[21]. - The company aims to achieve a sales revenue of 880 million RMB in 2020, driven by market opportunities in drinking water purification and wastewater treatment[121]. - The company intends to enhance its marketing network and expand into key industries such as pharmaceuticals, food, and petrochemicals[123]. Operational Efficiency and Risks - The company faces risks related to core competitiveness, particularly in technology upgrades and iterations, which are critical in the technology-intensive membrane application industry[83]. - There is a risk of research and development failures and challenges in converting technological achievements into marketable products, which could adversely affect the company's operating performance[83]. - The company is exposed to accounts receivable risks due to slow sales collections influenced by downstream customer cash flow and industry conditions, particularly in economically underdeveloped regions[84]. - The company’s main clients may experience significant fluctuations, impacting the demand for customized membrane equipment, which could lead to operational performance volatility[84]. Environmental Compliance - The company is committed to maintaining compliance with the GB18918-2002 standards, which is crucial for environmental sustainability and operational integrity[201, 202, 203, 204, 205, 206, 207, 208, 209, 210]. - The company has implemented environmental monitoring measures, including both manual and online continuous monitoring of pollutants[177]. - The company’s wastewater treatment facilities are required to meet specific discharge standards, including CODcr limits of 274 tons/year and total nitrogen limits of 82.13 tons/year for certain plants[173]. - The company has established emergency response plans for environmental incidents to mitigate potential impacts on the surrounding environment[176]. Corporate Governance - The company maintains a robust governance structure, ensuring compliance with laws and regulations, and has established a comprehensive internal management system[163]. - The company has committed to reducing related party transactions and will strictly adhere to market rules during necessary transactions[144]. - The company has implemented new financial instrument standards effective January 1, 2019, reclassifying non-trading equity investments as other equity instrument investments[146]. - The company has changed its auditing firm to Rongcheng Accounting Firm, maintaining the audit fee at RMB 1,200,000[148].