路德环境科技股份有限公司 证券代码：688156 证券简称：路德环境 路德环境科技股份有限公司 投资者关系活动记录表 | --- | --- | --- | |--------------------|------------------------------|----------------------------------------| | | | 编号： LDHJ 2022-030 至 033 | | | ■特定对象调研 | □分析师会议 | | | □媒体采访 □业绩说明会 | | | 投资者关系活动类别 | □新闻发布会 ■路演活动 | | | | □现场参观 □电话会议 | | | | □网络会议 □其他 | | | | 2022 年 5 月 24 日 | | | | 10:00-11:00 | ：珠江投资、珠江人寿 | | | 11:30-13:00 | ：海南泰昇、英蓝资产、华美国际、玄元投 | | | 资、合生创展 | | | | 13:00-14:00 ：金鹰基金 | | | | 14:30-15:30 ：广发基金 | | | | 16:00-17:00 | ：海南宽行、感叹号投资、本 ...

Group 1: Company Overview - Luther Environmental Technology Co., Ltd. is listed under stock code 688156 [1] - The company focuses on the comprehensive treatment and resource utilization of high-water-content waste [3] Group 2: Investor Relations Activities - Investor relations activities were conducted from June 17 to June 28, 2022, including online meetings and discussions with various investment firms [2][3] - Key participants included the Chairman and General Manager, Ji Guangming, and the Deputy General Manager and Board Secretary, Liu Jing [3] Group 3: Capital Increase and Business Model - The company has approved a private placement of shares to its actual controller, Ji Guangming, as of June 2, 2022 [3] - The company aims to convert brewery wastewater into functional feed, highlighting the high nutrient content of the wastewater [3] Group 4: Production Capacity and Strategic Planning - Projected production capacity for the company's fermented feed from liquor waste is expected to reach 170,000 tons in 2022, 220,000 tons in 2023, and 300,000 tons in 2024 [4] - The company plans to deepen its investment in the core production areas of liquor and expand into other organic waste resource utilization [4] Group 5: Procurement and Pricing Strategy - The procurement price of liquor waste is influenced by supply and demand, with lower prices during the peak waste disposal season from July to November [4] - The company employs long-term supply agreements and public bidding for procurement, ensuring competitive pricing [4][5] Group 6: Competitive Advantages - The company has 23 authorized patents, including 5 invention patents, and over 20 pending patents [5] - Strategic partnerships with major liquor producers secure a stable supply of liquor waste, which is crucial due to its high moisture content and short shelf life [5] Group 7: Cost Structure - The main costs for the fermented feed business include liquor waste procurement, labor, fuel, and depreciation [6] - The average procurement cost per ton has remained stable over the past three years, while labor costs have decreased due to increased production volume [6]

Financial Performance - The company reported a half-year performance summary, with a focus on financial accuracy and completeness, ensuring no misleading statements or omissions [3]. - The report is unaudited, with the management team affirming the accuracy of the financial statements [7]. - The company achieved operating revenue of RMB 150.51 million in the first half of 2022, representing a year-on-year increase of 1.80% [19]. - The net profit attributable to shareholders decreased by 39.82% to RMB 18.38 million compared to the same period last year [20]. - The basic earnings per share fell by 39.39% to RMB 0.20, while the diluted earnings per share remained the same at RMB 0.20 [20]. - The company reported a significant decline of 98.12% in revenue from environmental technology equipment and materials sales [20]. - The net cash flow from operating activities surged to RMB 29.39 million, a substantial increase from RMB 1.40 million in the same period last year [20]. - The company's total assets slightly decreased by 0.15% to RMB 1.00 billion compared to the end of the previous year [20]. - The company reported a net profit of 21.52 million yuan, a decline of 33.60% year-on-year, with the net profit attributable to shareholders decreasing by 39.82% to 18.38 million yuan [79]. - The gross profit margin for the reporting period was 33.20%, down by 2.98 percentage points compared to the previous year, primarily due to increased costs in the white liquor residue fermentation feed and the impact of the pandemic on the lake and river sludge treatment services [77]. Research and Development - Research and development expenses accounted for 5.96% of operating revenue, an increase of 1.72 percentage points from the previous year [20]. - The company experienced a significant increase in research and development expenses, which rose by 43.15% year-on-year, focusing on new product development and technology upgrades [22]. - The company's R&D expenses increased by 43.15% year-on-year, totaling ¥8,964,005.58, compared to ¥6,261,859.55 in the previous year [60]. - The number of R&D personnel increased to 58, representing 16.07% of the total workforce, compared to 12.53% in the previous year [68]. - The company has filed 21 new patents, including 1 invention patent and 20 utility model patents, focusing on resource recovery and wastewater treatment technologies [58]. Risk Management - The company has outlined various risks in its operations and corresponding mitigation measures, urging investors to pay attention to investment risks [3]. - The management has emphasized the importance of forward-looking statements and the associated risks, advising investors to be cautious [5]. - The company has a comprehensive risk management strategy in place to address potential operational challenges [3]. - The company is actively monitoring raw material price fluctuations, which may impact profitability due to changes in market supply and demand [88]. - The company is facing risks related to core technology personnel turnover, which could affect its research and development capabilities [86]. Corporate Governance - The board of directors confirmed the absence of non-operational fund occupation by controlling shareholders or related parties [6]. - There are no special arrangements for corporate governance or significant matters affecting the company [5]. - The company has implemented a robust mechanism to protect the rights of minority investors, enhancing corporate governance [146]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties, ensuring financial integrity [149]. - The company will ensure that any related party transactions are fully disclosed and compliant with regulations [140]. Market Expansion and Strategy - The company is focusing on the resource utilization of food and beverage residues, particularly in the production and sales of white liquor residue fermentation feed, which has significant market potential [29]. - The company plans to stabilize production costs and increase sales prices in the second half of the year to mitigate profit decline risks due to rising energy and transportation costs [22]. - The company is focusing on expanding its biological fermentation feed business, leveraging the growing demand for high-quality feed alternatives amid a shortage of protein raw materials in the domestic market [80]. - The company plans to increase its fermentation feed production capacity to 420,000 tons per year and its liquor residue processing capacity to over 1.1 million tons per year by the end of 2024 [81]. - The company is actively pursuing new strategies for market expansion and technological innovation, enhancing its competitive edge in the environmental protection sector [49]. Environmental and Social Responsibility - The company processed approximately 70,000 tons of waste liquor during the first half of 2022, reducing carbon emissions from landfill disposal [124]. - The company provided 65 job opportunities in Gulin County, contributing to local poverty alleviation efforts [125]. - The company emphasizes its commitment to sustainable practices, aiming to reduce carbon emissions by 30% over the next five years [143]. - The company has received strong support from local governments for its environmental services, enhancing its competitive position in the liquor residue processing market [70]. - The company is focused on resource utilization of high-concentration wastewater generated during liquor production, with a COD exceeding 50,000, aiming for effective resource recovery [52]. Financial Management - The company plans to issue A-shares to specific investors, with a proposal for the use of raised funds focusing on technology innovation [113]. - The total amount of financial assets measured at fair value increased by 154.52% to ¥155,060,366.48, indicating a significant rise in financial product investments [107]. - The company reported a 99.37% increase in financial income, with interest income rising significantly compared to the previous year [99]. - The company has invested approximately ¥150 million in establishing a new subsidiary for producing bioconversion feed, with an annual capacity of 80,000 tons [104]. - The company has implemented a technology for recycling filter cake, which enhances dewatering efficiency and reduces material costs [54]. Shareholder Commitments - The actual controller and major shareholders committed to not transferring or entrusting the management of their shares for 36 months from the date of the company's IPO [128]. - The company has a commitment to ensure that any share transfers after the lock-up period do not exceed 25% of the total shares held at the time of the IPO each year for 4 years [128]. - The company will adhere to regulations regarding share reduction and will notify the company three trading days in advance before any share reduction [129]. - The company has established a plan to ensure stable operations and control rights after the lock-up period [128]. - The company will ensure that any income obtained from unfulfilled commitments will be returned to the company within 5 days [129].

2022 年第一季度报告 证券代码：688156 证券简称：路德环境 路德环境科技股份有限公司 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 | 57,114,167.43 | 15.41 | | 归属于上市公司股东的净利润 | 3,842,222.07 | -54.18 | | 归属于上市公司股东的扣除非经常 | 3,457,064.77 | -42. ...

Financial Performance - The company's operating revenue for 2021 was RMB 382,000,137.03, representing a 52.56% increase compared to RMB 250,399,501.97 in 2020[20]. - The net profit attributable to shareholders for 2021 was RMB 75,539,102.26, up 58.23% from RMB 47,740,797.49 in 2020[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 65,218,599.61, reflecting a 73.53% increase from RMB 37,584,273.43 in 2020[20]. - The net cash flow from operating activities for 2021 was RMB 44,812,668.69, a significant increase of 90.46% compared to RMB 23,528,354.56 in 2020[20]. - As of the end of 2021, the net assets attributable to shareholders were RMB 770,076,330.47, an 8.78% increase from RMB 707,906,229.13 at the end of 2020[20]. - The total assets at the end of 2021 reached RMB 1,004,559,208.33, marking a 14.31% increase from RMB 878,794,589.11 at the end of 2020[20]. - Basic and diluted earnings per share rose to 0.82 RMB, reflecting a year-on-year increase of 28.13%[21]. - The company's gross profit margin for 2021 was 37.52%, a decrease of 7.59% year-on-year, attributed to temporary facility amortization and equipment depreciation costs incurred during the pandemic[122]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 3.00 per 10 shares, totaling RMB 27,552,000.00 (including tax) based on a total share capital of 91,840,000 shares as of December 31, 2021, resulting in a cash dividend payout ratio of 36.47%[6]. - The independent directors have expressed clear agreement with the profit distribution plan, which is subject to approval at the annual shareholders' meeting[6]. - The company has not proposed any stock dividends or capital reserve transfers for the year[6]. - In 2020, the company distributed cash dividends of RMB 2.0 per 10 shares, totaling RMB 18.368 million[200]. Research and Development - The company's R&D expenditure accounted for 4.18% of operating revenue, a decrease of 0.28 percentage points from the previous year[22]. - Research and development expenses amounted to CNY 15.95 million, representing 4.18% of operating revenue, with 31 patents applied for during the reporting period[45]. - The company increased its R&D investment by 42.80% in 2021, totaling ¥15,949,008.29, compared to ¥11,169,090.59 in the previous year[88]. - The company holds a total of 99 patents, including 16 invention patents and 81 utility model patents, as of the end of the reporting period[85]. - During the reporting period, the company applied for and was granted 31 new patents, including 3 invention patents and 28 utility model patents[85]. Risk Management - The company has detailed potential risks in its annual report, emphasizing the importance of risk awareness for investors[4]. - The company has a comprehensive risk statement regarding forward-looking statements, cautioning investors about potential uncertainties[7]. - The company is exposed to risks related to raw material price fluctuations, which could impact profitability, and plans to adjust procurement policies accordingly[108]. - The company faces risks from concentrated market regions, particularly in the Yangtze River Delta, and aims to diversify its resource utilization projects to enhance sustainability[109]. - The company is actively monitoring industry policies and competition, adapting its strategies to mitigate risks from potential changes in the regulatory environment and increasing competition[112][113]. Corporate Governance - The company has a structured governance framework in place, ensuring accountability and transparency in its operations[8]. - The company has established a robust corporate governance structure, holding three shareholder meetings in 2021 to ensure compliance with legal and regulatory requirements[164]. - The board of directors convened eight meetings in 2021, ensuring effective decision-making and adherence to governance protocols[164]. - The company has implemented a management system for insider information, ensuring confidentiality and compliance with disclosure regulations[167]. - The company is committed to investor relations management, enhancing communication with shareholders and addressing their concerns[166]. Market Expansion and Strategy - The company is focusing on the resource utilization of organic and inorganic high-water-content waste, particularly through the transformation of organic waste into feed products[153]. - The company plans to expand its business through mergers and acquisitions in the solid waste treatment sector, enhancing its capabilities in both organic and inorganic waste processing[154]. - The company is deepening cooperation with major liquor enterprises to secure long-term supply agreements, thereby increasing its market share in wine lees acquisition[159]. - The company is exploring partnerships with local firms to strengthen its supply chain and reduce costs by 15%[181]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by 2025[182]. Environmental and Technological Innovations - The company has developed a core technology system for sludge dewatering and solidification, which includes 9 invention patents and 55 utility model patents[18]. - The company’s insect protein feed production, initiated in September 2021, utilizes insect and microbial degradation technology to convert organic waste into high-value insect protein feed[56]. - The company has developed synthetic soil from dewatered sludge, meeting the standards for greening planting soil as per CJ/T 340-2016[82]. - The company has implemented a high-efficiency thermal drying process for sludge, allowing for energy recovery during combustion in power plant boilers[82]. - The company’s innovative technologies enhance the efficiency of solid-liquid separation and organic matter degradation, contributing to sustainable waste management solutions[82].

Financial Performance - The company's operating revenue for 2021 was RMB 382,000,137.03, representing a 52.56% increase compared to RMB 250,399,501.97 in 2020[20]. - The net profit attributable to shareholders for 2021 was RMB 75,539,102.26, up 58.23% from RMB 47,740,797.49 in 2020[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 65,218,599.61, reflecting a 73.53% increase from RMB 37,584,273.43 in 2020[20]. - The net cash flow from operating activities for 2021 was RMB 44,812,668.69, a significant increase of 90.46% compared to RMB 23,528,354.56 in 2020[20]. - As of the end of 2021, the net assets attributable to shareholders were RMB 770,076,330.47, an 8.78% increase from RMB 707,906,229.13 at the end of 2020[20]. - The total assets at the end of 2021 amounted to RMB 1,004,559,208.33, which is a 14.31% increase from RMB 878,794,589.11 at the end of 2020[20]. - Basic and diluted earnings per share rose to 0.82 RMB, reflecting a year-on-year increase of 28.13%[21]. - The company's gross profit margin for 2021 was 37.52%, a decrease of 7.59% year-on-year, attributed to temporary facility amortization and equipment depreciation costs incurred during the pandemic[122]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 3.00 per 10 shares, totaling RMB 27,552,000.00 (including tax) based on a total share capital of 91,840,000 shares as of December 31, 2021, resulting in a cash dividend payout ratio of 36.47%[6]. - The company has a cash dividend policy in place to ensure sustainable returns to investors, as outlined in its three-year shareholder return plan[200]. - In 2020, the company distributed cash dividends of RMB 2.0 per 10 shares, totaling RMB 18.368 million[200]. Research and Development - The company's R&D expenditure accounted for 4.18% of operating revenue, a decrease of 0.28 percentage points from the previous year[22]. - The company increased its R&D investment by 42.80% in 2021, totaling ¥15,949,008.29, compared to ¥11,169,090.59 in the previous year[88]. - Research and development expenses increased by 20%, totaling $100 million, to support new technology initiatives[181]. - The company has developed a core technology system for sludge dewatering and solidification, which includes 9 invention patents and 55 utility model patents[12]. - The company holds a total of 99 patents, including 16 invention patents and 81 utility model patents, as of the end of the reporting period[85]. Market Expansion and Strategy - The company has a strategic focus on expanding its market presence and enhancing its technological capabilities in environmental management[11]. - The company plans to continue expanding its business in sludge treatment and functional feed products in line with national policies[22]. - The company is focusing on expanding its market presence through direct sales and distributor partnerships, enhancing its operational efficiency in the sludge treatment sector[60]. - The company is exploring trade pathways for insect protein feed to expand its revenue and achieve economies of scale in the short term[160]. - The company plans to invest 300 million RMB in R&D over the next two years to further enhance its technological edge[175]. Risk Management - The company has detailed potential risks in its annual report, emphasizing the importance of risk awareness for investors[4]. - The company is exposed to risks related to raw material price fluctuations, which could impact profitability, and plans to adjust procurement policies accordingly[108]. - The company faces risks from concentrated market regions, particularly in the Yangtze River Delta, and aims to diversify its resource utilization projects[109]. - The company is aware of potential industry policy changes that could affect its market environment and is committed to adapting its strategies accordingly[112]. Corporate Governance - The company has established a robust corporate governance structure, ensuring compliance with relevant laws and regulations, and has held three shareholder meetings in 2021[163]. - The board of directors convened eight meetings in 2021, adhering to governance rules and ensuring effective decision-making processes[164]. - The company has implemented a comprehensive information disclosure management system to ensure transparency and protect the rights of minority shareholders[166]. - The company maintains independence from its controlling shareholder, ensuring no interference in decision-making or operations[166]. Environmental Focus - The company is focused on environmental technology, particularly in the treatment of high-water-content waste materials, which includes river and lake sludge, engineering mud, and organic residues[11]. - The company aims to achieve a reduction in waste and promote harmless and stable resource utilization through its innovative technologies[12]. - The company is strategically positioned to benefit from supportive environmental policies and regulations, which are expected to drive rapid growth in the sludge treatment industry[75]. - The company is leveraging advanced fermentation technologies to convert liquor lees into high-value biological feed, contributing to a circular economy and reducing reliance on traditional feed sources[66]. Operational Efficiency - The company has established several subsidiaries to enhance its operational capabilities and market reach[11]. - The company has implemented cost control measures by using self-developed materials and direct procurement strategies, which help reduce purchasing costs[103]. - The company is actively enhancing its talent pool by recruiting high-end professionals in animal nutrition and biological fermentation[46]. - The company has established long-term supply agreements with major liquor enterprises, securing a stable source of high-water-content organic waste, particularly from liquor production[101].

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 2021 年第三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。 公司负责人季光明、主管会计工作负责人胡卫庭及会计机构负责人（会计主管人员）秦学仁保证 2021 年第三季度报告中财务报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 路德环境科技股份有限公司 2021 年第三季度报告 证券代码：688156 证券简称：路德环境 路德环境科技股份有限公司 2021 年第三季度报告 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、准确性和完整性依法承担法律责任。 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 | | | 本报告期比上年 | | 年初至报告期末 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 同期增减变动幅 | 年初至报告期末 | 比上年同期增减 | | | | 度(%) | | 变动幅度(%) | | 营业收入 | 88,285,797 ...

Financial Performance - The company reported a total revenue of RMB 500 million for the first half of 2021, representing a year-on-year increase of 20%[14]. - The company's operating revenue for the first half of the year reached ¥147,851,457.25, representing an increase of 80.83% compared to the same period last year[21]. - Net profit attributable to shareholders increased by 942.14% to ¥30,548,302.38, while the net profit after deducting non-recurring gains and losses rose by 771.75% to ¥22,998,487.86[21][23]. - The basic and diluted earnings per share increased by 725.00% to ¥0.33, primarily due to a low base from the previous year[22][23]. - The company reported a significant increase in revenue for the first half of 2021, achieving a total of 500 million RMB, representing a 25% growth compared to the same period in 2020[114]. - The company reported a net profit margin of 15% for the first half of 2021, an improvement from 12% in the previous year[115]. - The company achieved operating revenue of 147.85 million RMB, an increase of 80.83% compared to the same period last year[81]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion yuan for the first half of 2021, representing a year-over-year growth of 25%[126]. User Growth - User data indicates a growth in active users by 15%, reaching a total of 1.2 million users[14]. - User data showed an increase in active users, reaching 1.2 million, which is a 30% increase year-over-year[115]. - User data showed an increase in active users, reaching 3 million by the end of June 2021, which is a 15% increase compared to the previous year[127]. Research and Development - The company has allocated RMB 50 million for research and development in the next fiscal year[14]. - Research and development expenses accounted for 4.24% of operating revenue, up from 3.57% in the previous year, indicating a focus on innovation[22]. - The company achieved a total R&D investment of ¥6,261,859.55, representing a 114.31% increase compared to the previous period's ¥2,921,937.69[49]. - R&D expenses increased by 114.31% to 6.26 million yuan, indicating a focus on ongoing project investments[82]. - The company is focusing on the development of solid-state fermentation technology, which utilizes microbial growth to process organic waste[46]. - The company applied for 10 new patents and received 6 authorized patents during the reporting period, bringing the total number of patents to 105, including 16 invention patents[47]. Market Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2022[14]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2022[126]. - Market expansion plans include entering two new regions by the end of 2021, which is anticipated to increase market share by 5%[116]. Strategic Initiatives - The company has no plans for mergers or acquisitions in the near term, focusing instead on organic growth strategies[14]. - The company is exploring potential mergers and acquisitions to enhance its product offerings and market reach, with a budget of 500 million yuan allocated for this purpose[126]. - The management emphasized the importance of sustainability in their new strategies, aiming for a 50% reduction in carbon footprint by 2025[115]. - The company plans to pursue strategic acquisitions to enhance its technology portfolio, with a budget of 200 million RMB allocated for potential targets[114]. Operational Efficiency - The company aims to reduce operational costs by 15% through improved efficiency measures implemented in the first half of 2021[127]. - The company has achieved a 20% increase in production capacity through the development of a new automatic packaging and stacking system, which has improved dust removal efficiency[55]. Financial Health - Total assets grew by 5.56% to ¥927,631,543.33, while net assets attributable to shareholders increased by 1.77% to ¥720,423,216.51[21]. - The company's cash flow from operating activities decreased by 91.41% to ¥1,397,991.30, attributed to an increase in receivables and cash outflows from new projects[23]. - The company has a total of RMB 61,324,846.41 in restricted assets, including cash, receivables, fixed assets, and intangible assets[87]. - The company reported a total expected amount for daily related party transactions not exceeding RMB 2.91 million for the year 2021[129]. Compliance and Governance - The management team emphasized the importance of compliance with regulatory requirements, ensuring that all operations adhere to the latest financial regulations[116]. - The company has committed to maintaining transparency in its financial reporting and ensuring compliance with regulatory standards to protect shareholder interests[127]. - The company will ensure that the control arrangements are disclosed and maintained for stable operations after the lock-up period[110]. Environmental Commitment - The company is engaged in water environment governance and solid waste treatment, utilizing self-developed technologies for sludge treatment and resource utilization[29]. - The company has committed to sustainability initiatives, aiming for a 50% reduction in carbon emissions by 2025, which aligns with global environmental standards[116]. - The company has implemented pollution prevention measures to ensure that pollutants meet the discharge standards, including wastewater treatment that complies with GB8978-1996[104]. Shareholder Relations - The company will communicate with shareholders, especially small and medium shareholders, through various channels to address their concerns[120]. - The company will publicly apologize if it fails to implement the share repurchase commitment and explain the reasons[120]. - The company has implemented a stock incentive plan, granting 1.706 million shares at a price of 12 RMB per share to 35 individuals[68].

二、 公司基本情况 2.1 主要财务数据 | | | | 单位：元 币种：人民币 | | | | --- | --- | --- | --- | --- | --- | | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | | | | | 减(%) | | | | 总资产 | 890,318,012.76 | 878,794,589.11 | | | 1.31 | | 归属于上市公司股东的净资 | 716,291,493.12 | 707,906,229.13 | | | 1.18 | | 产 | | | | | | | | 年初至报告期末 | 上年初至上年报 | 比上年同期增减(%) | | | | | | 告期末 | | | | | 经营活动产生的现金流量净 额 | -10,564,186.20 | 4,503,881.95 | | | -334.56 | | | 年初至报告期末 | 上年初至上年报 | 比上年同期增减（%） | | | | | | 告期末 | | | | | 营业收入 | 49,486,781.28 | 16,999,778.68 | | | 191.10 | | 归 ...

Financial Performance - The company's operating revenue for 2020 was approximately ¥250.40 million, a decrease of 17.55% compared to ¥303.69 million in 2019[22]. - Net profit attributable to shareholders increased by 8.36% to ¥47.74 million, up from ¥44.06 million in the previous year[22]. - The net cash flow from operating activities decreased by 22.86% to ¥23.53 million, primarily due to the impact of the COVID-19 pandemic[24]. - The company's total assets increased by 66.79% to ¥878.79 million, compared to ¥526.87 million at the end of 2019[22]. - The net assets attributable to shareholders grew by 110.69% to ¥707.91 million, up from ¥335.99 million in 2019[22]. - Basic earnings per share remained stable at ¥0.64, with diluted earnings per share also at ¥0.64[23]. - The overall performance was affected by the pandemic, with significant revenue decline in the first half of the year, although recovery was noted in the second half[24]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the fiscal year 2020, representing a year-over-year growth of 25%[158]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 2.00 per 10 shares, totaling RMB 18,368,000.00, with a cash dividend ratio of 38.47% for the year[5]. - In 2020, the company distributed a cash dividend of 2.00 CNY per share, totaling 18,368,000 CNY, with a net profit attributable to ordinary shareholders of 47,740,797.49 CNY, representing a payout ratio of 38.47%[152]. - The company is committed to maintaining a dividend payout ratio of 30% of net income, ensuring returns to shareholders[158]. Research and Development - The proportion of R&D investment to operating revenue increased to 4.46%, up from 3.61% in 2019[23]. - Total R&D investment for the year was ¥11,169,090.59, an increase of 1.98% from the previous year's ¥10,952,676.07[62]. - The company applied for 33 new patents during the reporting period and was granted 26, including 2 invention patents and 24 utility model patents[60]. - The company is investing in the development of innovative environmental technology equipment, which is expected to drive future growth[38]. - The company aims to expand the application of its organic residue microbial solid-state fermentation technology to other industrial residues beyond the current scope[74]. Operational Efficiency and Technology - The company has adopted a factory-based operational model, which enhances efficiency and scalability in waste treatment services[40]. - The company’s core technology system for sludge dewatering and solidification has been applied in over ten industrial projects, indicating strong market adoption[74]. - The company has established a comprehensive quality assurance system, ensuring product quality meets customer requirements throughout the entire lifecycle[199]. - The company has implemented a complete procurement internal control management system, ensuring timely product delivery and quality control[197]. Market Expansion and Strategic Initiatives - The company plans to continue expanding its market presence through strategic partnerships and potential acquisitions in the environmental services sector[39]. - The company is focusing on expanding its market presence in nine provinces, including Hubei, Zhejiang, and Guangdong, to enhance its competitive advantage in industrial solid waste treatment[141]. - The company established a joint venture with Changjiang Ecological Environmental Protection Group, focusing on water environment governance and solid waste disposal in the Yangtze River Economic Belt[84]. - The company is exploring strategic acquisitions to bolster its technology capabilities, with a budget of 500 million RMB allocated for potential deals[156]. Compliance and Governance - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties[7]. - The company has not violated any decision-making procedures in providing guarantees[7]. - The company has a robust decision-making structure that protects the rights of shareholders and creditors, ensuring fair treatment of all investors[195]. - The company will adhere strictly to regulations regarding stock reduction as stipulated by the China Securities Regulatory Commission[157]. Environmental and Social Responsibility - The company actively fulfilled social responsibilities during the COVID-19 pandemic, donating RMB 100,000 and maintaining salary payments without layoffs[200]. - The company has taken measures to manage and treat pollutants effectively, ensuring compliance with environmental standards[200]. - The company has not been classified as a high-pollution industry, with minimal pollutant emissions during production[200]. Challenges and Risks - The company has detailed various operational risks and corresponding countermeasures in the report, emphasizing the importance of investor awareness regarding investment risks[4]. - The company faced challenges in project receivables and increased acceptance bills with a one-year maturity, impacting cash flow[24]. - The company plans to enhance its procurement policies to manage risks related to fluctuations in raw material prices, which include calcium carbide slag, fly ash, and distiller's grains[92].