证券代码：688466 证券简称：金科环境 公告编号：2023-020 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。 重要内容提示： 投资者可于 2023 年 5 月 22 日（星期一）18:00 前登录上证路演中心网 站首页点击"提问预征集"栏目或通过公司投资者关系邮箱 ir@greentech.com.cn 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 一、业绩说明会类型 金科环境股份有限公司（以下简称"公司"）已于 2023 年 4 月 28 日在上海 证券交易所网站（www.sse.com.cn）披露了公司《2022 年年度报告》及其摘要。 为加强与投资者的深入交流，使投资者更加全面、深入地了解公司情况，公司计 划于 2023 年 5 月 24 日（星期三）下午 14:00-15:00，召开 2022 年度业绩说明会， 就投资者关心的问题进行交流。 本次业绩说明会以网络文字互动方式召开，公司将针对 2022 年年度的经营 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，在信息披露法律法规 允许的 ...

2022 年第三季度报告 证券代码：688466 证券简称：金科环境 金科环境股份有限公司 2022 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。 重要内容提示： (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 | 年初至报告期末 | 年初至报告 | | --- | --- | --- | --- | --- | | | | 上年同期增 | | 期末比上年 | | | | 减变动幅度 | | 同期增减变 | | | | (%) | | 动幅度(%) | | 营业收入 | 94,125,671.21 | 28.61 | 313,104,226.40 | -4.70 | | 归属于上市公司股东的 | 2,361,393.14 | 28.64 | 36,536,806.00 | 2.86 | | 净利润 | | | | | | 归属于上市公司股东的 扣除非经常性损益的净 | 739,588.59 | 149.01 | 31,445,857.33 | 2.67 | | ...

Financial Performance - The company reported a half-year performance summary for 2022, covering the period from January 1 to June 30, 2022[10]. - The company's operating revenue for the first half of the year was ¥218,978,555.19, a decrease of 14.24% compared to the same period last year[19]. - Net profit attributable to shareholders was ¥34,175,412.86, reflecting a growth of 1.45% year-over-year[22]. - The net cash flow from operating activities improved to ¥8,270,664.87, a significant recovery from a negative cash flow of ¥-151,957,309.63 in the previous year[23]. - The company's total assets decreased by 2.87% to ¥1,629,541,079.69 compared to the end of the previous year[19]. - The net assets attributable to shareholders increased by 3.34% to ¥1,054,345,422.52[19]. - The basic earnings per share remained stable at ¥0.33, unchanged from the previous year[19]. - The weighted average return on net assets decreased by 0.14 percentage points to 3.29% compared to the same period last year[20]. - The company reported a total revenue of 12,968.22 million RMB for the first half of 2022, with a net profit of 1,193.61 million RMB, representing a year-on-year increase of 8,540.11 million RMB[89]. Research and Development - Research and development expenses accounted for 5.45% of operating revenue, an increase of 1.43 percentage points year-over-year[20]. - The company achieved a total R&D investment of 1,193.61 million CNY, an increase of 16.38% compared to the previous year[79]. - The proportion of R&D investment to operating revenue rose to 5.45%, up by 1.43 percentage points year-on-year[79]. - The capitalized R&D investment increased significantly by 282.54% to 351.25 million CNY, reflecting a shift towards project commercialization[79]. - The company has 28 ongoing R&D projects, with 16 projects meeting their objectives and some achieving industrialization[81]. - The company is focusing on enhancing its core competitiveness through increased R&D investment and talent acquisition[140]. - The company has developed unique technologies for nanofiltration systems, ensuring stable operation and compliance with phosphorus discharge limits in large municipal water projects[66]. - The company is researching a new hollow fiber nanofiltration membrane that combines the advantages of existing technologies, promising lower costs and higher efficiency in water treatment[64]. Market Expansion and Strategy - The company is actively pursuing market expansion through strategic partnerships and investments in water treatment technologies, targeting both domestic and international markets[12]. - The company aims to leverage its core technologies to create a digital twin platform for water plants, improving operational efficiency and management[11]. - The company introduced the PIPP model (Public-Industry-Private Partnership), which focuses on generating high-quality recycled water from wastewater for industrial use, enhancing revenue streams[11]. - The company is expanding its market presence through the development of new technologies and products, enhancing its competitive edge in the wastewater treatment sector[84]. - The company plans to establish a new R&D center in Tangshan, Hebei, focusing on resource recovery technology and membrane technology applications, which will enhance its core competitiveness[105]. Environmental Compliance and Sustainability - The company has established emergency response plans for environmental incidents, which have been submitted for approval to the ecological environment bureau[173]. - The company emphasizes the resource utilization of wastewater, enhancing the value of resource products while preventing environmental pollution[180]. - The company has successfully obtained environmental impact assessment approvals for all its projects during the reporting period[172]. - The company is committed to improving wastewater treatment processes to meet environmental standards and reduce excess discharges[169]. - The company has implemented measures to reduce carbon emissions, contributing positively to environmental protection efforts[181]. Corporate Governance and Shareholder Commitments - The board of directors confirmed the authenticity, accuracy, and completeness of the financial report, with no significant omissions or misleading statements[4]. - There are no plans for profit distribution or capital reserve conversion during this reporting period[5]. - The company has not disclosed any new employee stock ownership plans or other incentive measures during this reporting period[159]. - The commitments include provisions for adjustments in case of stock dividends or capital increases[187]. - The company has established a clear framework for compliance and accountability among its shareholders and management regarding share transfers[195]. Operational Risks and Challenges - The company has outlined various operational risks and corresponding mitigation measures in the report[4]. - The company faces risks related to project execution, particularly due to the complexity and long execution cycles of water treatment projects, which may lead to delays or cost overruns[134]. - The company is exposed to risks from large-scale accounts receivable and reduced cash flow, particularly as project sizes increase[136]. - The company anticipates increased competition in the water treatment sector as more firms enter the market, driven by technological advancements and government support[138].

Financial Performance - The company achieved operating revenue of CNY 559.51 million in 2021, a slight increase of 0.41% compared to CNY 557.21 million in 2020[27]. - Net profit attributable to shareholders was CNY 62.29 million, representing a decrease of 13.03% from CNY 71.62 million in the previous year[27]. - The company reported a net cash flow from operating activities of CNY -33.43 million, improving by 68.09% from CNY -104.74 million in 2020[27]. - The total assets of the company reached CNY 1.68 billion at the end of 2021, a 12.77% increase from CNY 1.49 billion in 2020[27]. - The company achieved operating revenue of 559.51 million yuan, a year-on-year increase of 0.41%[48]. - Net profit attributable to shareholders decreased by 13.03% to 62.29 million yuan[48]. - The company has 433 million yuan in hand orders, a decline of 26% compared to the previous year[48]. - The main business revenue was 559.29 million yuan, accounting for 99.96% of total revenue[48]. - Revenue from water treatment solutions was 441.09 million yuan, representing 78.83% of total revenue, a decrease of 7.19% year-on-year[48]. - Revenue from operation services and wastewater resource recovery products increased by 44.59% to 118.20 million yuan[48]. Research and Development - Research and development expenses accounted for 4.34% of operating revenue, an increase of 0.56 percentage points from 3.78% in 2020[28]. - The company invested 24.27 million yuan in R&D, a year-on-year increase of 15.08%, accounting for 4.34% of operating revenue[43]. - The company applied for 17 patents and software copyrights during the reporting period, with a total of 87 patents and copyrights held[44]. - The company has 26 ongoing R&D projects, with some entering the later stages of development and patent applications in progress[43]. - The company has received 20 new patents and software copyrights during the reporting period, bringing the total to 87, including 15 invention patents[94]. - The total R&D investment for the year was approximately 24.27 million yuan, an increase of 15.08% compared to the previous year, with capitalized R&D investment rising by 121.02% to 3.94 million yuan[144]. - The company has developed three core technologies in membrane filtration, enhancing its competitive edge in water treatment and resource recovery[163]. Technology and Innovation - The company has developed a membrane universal platform technology that is compatible with various ultrafiltration membrane elements, enhancing operational flexibility[15]. - The introduction of the "water plant twin" digital project implementation platform aims to streamline project design, implementation, and operation, improving efficiency[15]. - The company is investing in new technologies for membrane anti-fouling and resource recovery from concentrated liquid, enhancing overall water treatment efficiency[15]. - The company has developed a dual-membrane coupling technology that reduces biofouling in reverse osmosis systems, simplifying processes and lowering operational costs without increasing investment[131]. - The company has implemented a digital management system for water treatment plants, transitioning from automation and information technology to intelligent management, enhancing operational efficiency[125]. - The company has established a digital twin management platform for real-time monitoring and asset management of physical water plants[144]. - The company has developed a comprehensive drinking water security system that includes three key technologies for ensuring water quality in supply networks[123]. Market Position and Strategy - The company aims to become an expert in deep water treatment and resource recovery, addressing water pollution and safety issues[29]. - The market for high-quality drinking water is rapidly growing, driven by consumer upgrades and policy support, which is expected to provide ongoing performance support for the company[29]. - The company has secured multiple new projects, including a 50,000 tons/day drinking water quality improvement project in Jiangsu and a 20,000 tons/day project in Beijing, enhancing its market position in membrane-based drinking water treatment[30]. - The company is focusing on urban water quality management, anticipating a wave of water price adjustments that will create growth opportunities in water quality protection and management services[33]. - The company has established a sales system covering major business areas, including subsidiaries and sales teams in cities like Beijing, Shanghai, and Guangzhou, to quickly respond to market demands[105]. - The company is positioned to benefit from the increasing investment in wastewater resource utilization infrastructure, driven by national policies and the need for circular economy initiatives[76]. Environmental and Sustainability Initiatives - The company reported a significant focus on wastewater resource utilization, aiming to convert treated wastewater into high-quality recycled water for industrial use[15]. - The PIPP (Public Industry-Private Partnership) model is being utilized to generate high-value recycled water from wastewater, promoting sustainable practices[15]. - The blue ecological park model focuses on recovering valuable substances from industrial wastewater, creating a sustainable investment and operational framework[15]. - The company is committed to addressing emerging pollutants in water environments, ensuring compliance with environmental safety standards[15]. - The company has developed a blue ecological park model that transforms wastewater into commercially valuable products, achieving zero discharge and benefiting local ecosystems[173]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Da Xin Accounting Firm[7]. - There are no special arrangements for corporate governance applicable to the company[10]. - The company has not violated decision-making procedures for providing guarantees[10]. - The company has not faced any situation where more than half of the directors cannot guarantee the authenticity, accuracy, and completeness of the annual report[10]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[9]. Challenges and Risks - The company has detailed various risks and countermeasures in the report, which can be found in the "Management Discussion and Analysis" section[6]. - The impact of COVID-19 slowed down the progress of several large projects, affecting overall performance during the reporting period[58]. - The company faces risks related to project execution, including potential delays and cost overruns due to unforeseen circumstances or contractor performance issues[184]. - The company is exposed to financial risks, including increased accounts receivable and potential cash flow shortages due to larger project scales and upfront investments[186].

Financial Performance - The company's operating revenue for Q1 2022 was ¥97,220,364.60, representing a year-on-year increase of 43.42%[6] - The net profit attributable to shareholders was ¥5,597,034.70, reflecting a growth of 14.56% compared to the same period last year[6] - The net profit after deducting non-recurring gains and losses was ¥5,016,673.55, which is an increase of 24.88% year-on-year[6] - The company reported a 43.42% increase in operating revenue, driven by significant progress in specific water treatment projects and new operational capacities[10] - In Q1 2022, the company's net profit was ¥2,878,637.03, a significant improvement compared to a net loss of ¥2,221,343.78 in Q1 2021, marking a turnaround of approximately 229%[33] - Operating profit for Q1 2022 was ¥3,643,450.35, compared to an operating loss of ¥1,915,423.30 in the same period last year, indicating a recovery in operational performance[33] - The total comprehensive income for Q1 2022 was CNY 4,433,998.03, compared to CNY 4,201,785.38 in Q1 2021, reflecting an increase of 5.5%[24] - The company’s total comprehensive income for Q1 2022 was ¥2,878,637.03, compared to a total comprehensive loss of ¥2,221,343.78 in Q1 2021, showing a significant recovery[34] Cash Flow and Investments - The net cash flow from operating activities was -¥42,232,097.01, showing a decline of 52.66% compared to the previous year[6] - Cash flow from operating activities in Q1 2022 was CNY 81,342,755.12, compared to CNY 90,665,646.27 in Q1 2021, indicating a decrease of 10.3%[25] - The net cash flow from financing activities was -CNY 14,551,632.61 in Q1 2022, compared to CNY 14,008,737.56 in Q1 2021[27] - The company invested CNY 200,000,000.00 in cash during Q1 2022, compared to no investment in Q1 2021[27] - The company invested ¥202,000,000.00 in Q1 2022, a substantial increase from ¥5,180,000.00 in Q1 2021, representing a growth of approximately 3,788%[36] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,623,722,348.68, down 3.22% from the end of the previous year[7] - The company's total assets amount to 1,623,722,348.68 RMB, a decrease from 1,677,709,272.27 RMB at the end of 2021[18] - The company's total liabilities decreased to CNY 567,784,518.98 in Q1 2022 from CNY 624,893,420.94 in Q1 2021, a reduction of 9.1%[20] - The total liabilities as of March 31, 2022, were CNY 479,493,972.34, down from CNY 535,314,616.21 at the end of 2021[31] - The company's total current liabilities decreased to CNY 477,874,518.95 as of March 31, 2022, from CNY 532,914,857.75 at the end of 2021[31] Research and Development - Research and development expenses totaled ¥4,504,211.80, accounting for 4.63% of operating revenue, a decrease of 2.48 percentage points year-on-year[7] - The company applied for 2 PCT invention patents and obtained 3 new authorized Chinese invention patents during the reporting period, bringing the total to 90 registered patents and software copyrights, including 14 domestic invention patents and 6 foreign invention patents[15] - The company has made progress in its core technology research, specifically in membrane system application technology, and has obtained 3 new domestic invention patents related to cleaning agents and pollution control devices[16] - The company has ongoing research projects aimed at reducing biofouling and organic pollution in reverse osmosis membranes, which have led to the development of new cleaning agents[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 5,673[11] - The total equity attributable to shareholders increased to CNY 1,024,508,581.07 in Q1 2022, up from CNY 1,020,223,516.58 in Q1 2021, a growth of 0.3%[20] Sales and Expenses - The company experienced a 64.46% increase in sales expenses, primarily due to higher warranty service costs[10] - Total operating costs for Q1 2022 were CNY 91,845,726.23, up 41.1% from CNY 65,043,346.18 in Q1 2021[21] - The operating costs for Q1 2022 were CNY 45,510,697.64, up from CNY 31,740,002.02 in Q1 2021, reflecting a 43.4% increase[32]

Financial Performance - The company reported a total revenue of 1.5 billion RMB for the first half of 2021, representing a year-on-year increase of 20%[1]. - The company has set a revenue guidance of 3 billion RMB for the full year 2021, projecting a growth rate of 25%[1]. - The company achieved operating revenue of CNY 255.35 million in the first half of 2021, representing a year-on-year increase of 19.38%[21]. - Net profit attributable to shareholders was CNY 33.69 million, up 11.39% compared to the same period last year[21]. - The company had a total of CNY 521 million in hand orders at the end of the reporting period, a 21.32% increase year-on-year[23]. - The main business revenue was CNY 255.24 million, accounting for 99.96% of total revenue, with water treatment solutions contributing CNY 202.68 million, a growth of 15.87%[24]. - The net cash flow from operating activities was -CNY 151.96 million, primarily due to delayed payments from large projects and increased operational costs[25]. - Basic earnings per share decreased by 5.71% to CNY 0.33 compared to the same period last year[22]. - The weighted average return on net assets was 3.43%, down 2.18 percentage points year-on-year[22]. - The company reported a total revenue of 12,531.89 million RMB for the first half of 2021, with a net profit of 1,025.58 million RMB, representing a significant increase from the previous period[83]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2022[1]. - A strategic acquisition of a local competitor is in progress, which is anticipated to increase market penetration by 15%[1]. - The company is positioned to benefit from the dual drivers of policy and market demand in the wastewater deep treatment sector, which is expected to see significant growth[36]. - The company is actively involved in the development of membrane technology for wastewater treatment, which has substantial market potential[36]. - The company is focusing on expanding its market presence through innovative technologies and strategic partnerships in the water treatment sector[68]. Research and Development - Investment in R&D has increased by 18%, focusing on sustainable water management solutions[1]. - The company has developed a universal membrane platform technology that is compatible with various ultrafiltration membrane elements, which is a core patented technology[12]. - The company reported a significant increase in the number of invention patents applied for, with 8 applications in the current period, bringing the cumulative total to 45[63]. - The company has 26 ongoing R&D projects focused on membrane technology, wastewater treatment, and smart water management, with several projects nearing the later stages of development[68]. - The company’s R&D investment amounted to 9.34 million yuan, a year-on-year increase of 62.99%, accounting for 4.02% of operating revenue[108]. Technological Advancements - The company reported significant advancements in its membrane anti-pollution technology and membrane combination process technology, enhancing water treatment efficiency[12]. - The company’s membrane system application technology has been integrated with "smart water management," enabling digital operations and real-time monitoring in multiple projects[54]. - The company is advancing its "smart membrane" project, which aims to provide specialized online and offline services to users, enhancing membrane research capabilities[81]. - The company is conducting research on advanced oxidation and membrane separation technologies to optimize the treatment of difficult-to-degrade wastewater[78]. - The company has completed preliminary research on a new low-energy consumption filtration system, which is expected to improve wastewater treatment efficiency[77]. Customer Satisfaction and Service - The company has achieved a 95% customer satisfaction rate, reflecting improvements in service delivery[1]. - The operation service business utilizes advanced membrane system operation technology, offering management services that allow clients to monitor system performance in real-time, enhancing operational efficiency[42]. - The operation service contracts typically last between 8 to 30 years, providing a stable revenue stream through ongoing management services[46]. Environmental Commitment - The company is committed to promoting green and sustainable development models through innovative wastewater resource utilization strategies[39]. - The company has implemented measures to reduce carbon emissions, resulting in minimal pollution output during its operations[148]. - The company views wastewater as a resource and utilizes existing membrane filtration technology to produce resource-based products, enhancing the value of treated wastewater[147]. Risks and Challenges - The company has identified key risks including regulatory changes and supply chain disruptions, with mitigation strategies outlined in the report[1]. - The company faces risks related to project execution, including potential delays and cost overruns due to unforeseen circumstances[113]. - The company is exposed to risks from increasing accounts receivable and reduced cash flow due to larger project scales and upfront investments[115]. Shareholder Commitments and Governance - The company has a commitment from its controlling shareholder to not transfer or manage shares for 36 months post-IPO, ensuring stability in shareholding[152]. - The company has established a clear framework for share transfer limitations to maintain stability post-IPO[156]. - The commitments from executives and shareholders reflect a strong alignment with the company's long-term growth strategy and market stability[157]. Awards and Recognition - The company has received multiple awards, including "Membrane Technology Well-Known Brand" in 2021[91]. - The company won two awards for its wastewater treatment plant in Tangshan, recognized as a "Benchmark Wastewater Plant for Reclaimed Water Utilization" and a "Benchmark Wastewater Plant for Smart Control" in March 2021[110].

Financial Performance - Operating revenue increased by 18.18% to CNY 67,786,745.30 year-on-year[5] - Net profit attributable to shareholders increased by 28.61% to CNY 4,885,621.86 compared to the same period last year[5] - The company reported a net profit of CNY 5,694,267.70 for Q1 2021, compared to CNY 5,115,326.56 in Q1 2020, indicating a growth of 11.4%[32] - The net profit for Q1 2021 was CNY 4,212,168.10, up from CNY 3,558,564.66 in Q1 2020, indicating a growth of 18.4%[33] - The company reported a total comprehensive income of CNY 4,201,785.38 for Q1 2021, compared to CNY 3,536,652.06 in Q1 2020, reflecting an increase of 18.7%[33] Assets and Liabilities - Total assets decreased by 5.91% to CNY 1,399,890,903.57 compared to the end of the previous year[5] - Total assets as of March 31, 2021, amounted to CNY 1,276,286,421.30, down from CNY 1,361,905,430.80 at the end of 2020[30] - Total liabilities as of March 31, 2021, were CNY 391,681,270.85, a decrease from CNY 475,078,936.57 at the end of 2020[30] - Shareholders' equity as of March 31, 2021, was CNY 884,605,150.45, slightly down from CNY 886,826,494.23 at the end of 2020[30] Cash Flow - The net cash flow from operating activities was CNY -89,200,835.89, showing a significant decline compared to CNY -68,813,575.34 in the previous year[5] - Cash inflows from operating activities totaled CNY 98,100,033.26, up from CNY 80,910,204.03 in Q1 2020, marking a growth of 21.2%[38] - The net cash flow from operating activities for Q1 2021 was -77,679,838.84 RMB, compared to -70,251,938.77 RMB in Q1 2020, indicating a decline of approximately 10.5% year-over-year[41] - The total cash outflow from operating activities in Q1 2021 was 153,932,956.12 RMB, up from 133,928,080.66 RMB in Q1 2020, representing an increase of approximately 15%[41] - The cash flow from investment activities in Q1 2021 was -5,484,857.60 RMB, compared to -1,128,603.00 RMB in Q1 2020, indicating a decline of approximately 386%[41] Expenses - Research and development expenses accounted for 7.11% of operating revenue, an increase of 2.35 percentage points[7] - R&D expenses rose by 76.57% to CNY 4,816,471.06, reflecting a return to normal project progress[16] - Sales expenses increased by 61.29% to CNY 3,282,844.68, driven by a recovery in sales activities post-pandemic[16] - The cash paid for purchasing goods and services in Q1 2021 was 112,746,138.48 RMB, which is an increase of approximately 28% compared to 88,144,553.75 RMB in Q1 2020[41] Shareholder Information - The total number of shareholders reached 6,396 by the end of the reporting period[10] - The largest shareholder, Zhang Huichun, holds 25.20% of the shares[10] Future Outlook - The company has signed contracts for future revenue of CNY 38,960.59 million in equipment and technology solutions[19] - The total amount of signed contracts in operation services and wastewater resource products is CNY 17,088.52 million[21] - The management indicated plans for future product development and market expansion strategies to enhance revenue streams[35] - The company’s total assets and liabilities are expected to grow as it continues to expand its market presence and invest in new technologies[35]

Financial Performance - Operating revenue increased by 18.18% to CNY 67,786,745.30 compared to the same period last year[5] - Net profit attributable to shareholders increased by 28.61% to CNY 4,885,621.86 compared to the same period last year[5] - Total operating revenue for Q1 2021 was CNY 67,786,745.30, an increase of 18.5% compared to CNY 57,357,651.06 in Q1 2020[32] - Operating profit for Q1 2021 was CNY 5,623,012.49, a slight increase from CNY 5,240,109.95 in Q1 2020[32] - Net profit for Q1 2021 reached CNY 5,694,267.70, compared to CNY 5,115,326.56 in Q1 2020, reflecting a growth of 11.4%[32] - The total comprehensive income for Q1 2021 was CNY 4,201,785.38, compared to CNY 3,536,652.06 in Q1 2020, indicating an increase of 18.7%[33] - The company's net loss for Q1 2021 was CNY 2,221,343.78, a decline from a profit of CNY 16,526.72 in Q1 2020[36] Assets and Liabilities - Total assets decreased by 5.91% to CNY 1,399,890,903.57 compared to the end of the previous year[5] - Total assets as of March 31, 2021, were CNY 1,276,286,421.30, down from CNY 1,361,905,430.80 at the end of 2020[30] - Total liabilities as of March 31, 2021, were CNY 391,681,270.85, a decrease from CNY 475,078,936.57 at the end of 2020[30] - Shareholders' equity as of March 31, 2021, was CNY 884,605,150.45, slightly down from CNY 886,826,494.23 at the end of 2020[30] - Cash and cash equivalents decreased to CNY 354,021,076.76 from CNY 425,722,403.05 at the end of 2020[28] Cash Flow - The net cash flow from operating activities was CNY -89,200,835.89, showing a significant increase in losses compared to CNY -68,813,575.34 in the previous year[5] - Cash flow from operating activities showed a net outflow of ¥89,200,835.89, an increase in prepayments and shipping payments compared to the previous year[18] - The cash inflow from operating activities was CNY 98,100,033.26 in Q1 2021, compared to CNY 80,910,204.03 in Q1 2020, reflecting a growth of 21.2%[38] - The net cash flow from operating activities for Q1 2021 was -77,679,838.84 RMB, compared to -70,251,938.77 RMB in Q1 2020, indicating a decline of approximately 10.5% year-over-year[41] - Total cash inflow from operating activities was 76,253,117.28 RMB, up from 63,676,141.89 RMB in the previous year, representing an increase of about 19.5%[41] - Cash outflow from operating activities totaled 153,932,956.12 RMB, compared to 133,928,080.66 RMB in Q1 2020, reflecting an increase of approximately 15%[41] Research and Development - Research and development expenses accounted for 7.11% of operating revenue, an increase of 2.35 percentage points[7] - R&D expenses rose by 76.57% to ¥4,816,471.06, reflecting a return to normal project progress[16] - Research and development expenses for Q1 2021 were CNY 4,816,471.06, significantly higher than CNY 2,727,739.12 in Q1 2020, reflecting increased investment in innovation[32] - Research and development expenses for Q1 2021 were CNY 4,088,349.58, which is a 88.5% increase from CNY 2,171,967.26 in Q1 2020[35] Shareholder Information - The number of shareholders at the end of the reporting period was 6,396[10] - The top shareholder, Zhang Huichun, holds 25.20% of the shares[10] Other Financial Metrics - The weighted average return on equity decreased by 0.53 percentage points to 0.50%[5] - The company received government subsidies amounting to CNY 49,291.56 related to its normal business operations[8] - The total non-recurring gains and losses amounted to CNY 868,517.33[8] - Accounts receivable financing increased by 384.80% to ¥8,797,190.72 compared to the previous year[14] - Other receivables rose by 142.31% to ¥11,557,984.68, primarily due to performance guarantees for the sewage treatment project[14] - Short-term borrowings increased by 59.88% to ¥31,976,721.00, attributed to an increase in bank credit loans[14] - Employee compensation payable decreased by 64.83% to ¥3,646,250.13, mainly due to the issuance of annual bonuses[14] - Tax payable decreased by 83.11% to ¥1,670,739.15, primarily due to tax payments made in Q4 2020[14] - Sales expenses increased by 61.29% to ¥3,282,844.68, driven by a recovery in sales activities post-pandemic[16] - The company has signed contracts for future revenue of ¥38,960.59 million in equipment and technology solutions[19]

Financial Performance - The company's operating revenue for 2020 was CNY 557,212,040.55, representing a 10.44% increase compared to CNY 504,557,542.63 in 2019[25]. - The net profit attributable to shareholders for 2020 was CNY 71,624,793.66, a decrease of 4.14% from CNY 74,719,885.94 in 2019[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 68,826,662.33, down 5.81% from CNY 73,075,091.48 in 2019[25]. - The cash flow from operating activities for 2020 was negative CNY 104,743,766.66, a significant decline compared to a positive CNY 90,152,047.03 in 2019, marking a 216.19% change[25]. - The total assets at the end of 2020 were CNY 1,487,762,748.44, an increase of 100.61% from CNY 741,618,261.05 at the end of 2019[25]. - The net assets attributable to shareholders at the end of 2020 were CNY 965,484,150.48, a substantial increase of 187.84% from CNY 335,420,768.01 at the end of 2019[25]. - The company achieved operating revenue of 557.21 million yuan in 2020, representing a year-on-year increase of 10.44%[27]. - Net profit attributable to shareholders decreased by 4.14% to 71.62 million yuan compared to the previous year[27]. - The company reported a total revenue of 11,347.89 million RMB, with a net profit of 2,109.00 million RMB, indicating a strong financial performance[85]. Dividend Policy - The company plans to distribute cash dividends of RMB 0.70 per 10 shares, totaling approximately RMB 7,193,200, which represents 10.04% of the net profit attributable to shareholders for 2020[7]. - The company has outlined a profit distribution plan that requires approval from the annual general meeting of shareholders[7]. - The cash dividend policy was strictly adhered to, with no adjustments made during the reporting period[173]. - The cash dividends for 2020 and 2019 were consistent at 10.04% of the net profit attributable to shareholders, indicating a stable dividend policy[176]. - The company does not plan to issue bonus shares or increase capital through reserves in the 2020 dividend proposal[174]. - The cash dividend distribution for 2020 is pending approval from the annual general meeting of shareholders[174]. - The total net profit attributable to shareholders for 2020 was RMB 71,624,793.66, supporting the proposed dividend distribution[176]. Research and Development - The company has increased its R&D investment as a percentage of operating revenue to 3.78%, up 0.31 percentage points from the previous year[26]. - The company applied for 11 new invention patents during the reporting period, focusing on breakthroughs in membrane technology for water treatment[29]. - The company has a total of 71 registered patents and software copyrights, including 4 domestic invention patents and 2 overseas invention patents[74]. - The company is currently working on 24 major R&D projects, with some projects entering the later stages of development and achieving partial industrialization of research results[80]. - The company has committed to a cash dividend policy, ensuring returns to investors as part of its three-year shareholder return plan[172]. - The company has maintained R&D investment at over 3% of revenue for the past three years, supporting key technological breakthroughs in water treatment[92]. - The company is focusing on the development of intelligent and digital management systems for membrane equipment manufacturing and operation[70]. Market Position and Strategy - The company aims to expand its market presence by selling reclaimed water and converting wastewater into commercially valuable products[16]. - The company is a leader in the domestic market for drinking water deep treatment and wastewater resource recovery, capable of providing full-scale water treatment solutions for plants with capacities of 200,000 tons/day or more[39]. - The company has established partnerships with key stakeholders in the water industry to enhance its service offerings and market reach[17]. - The company is focusing on the integration of membrane technology with other water treatment processes to enhance treatment efficiency and reduce land occupation[66]. - The company is actively pursuing market expansion and technological advancements in the water treatment sector, supported by national policies aimed at enhancing water resource management and pollution control[158]. - The company has identified a market opportunity of nearly RMB 100 billion in the water treatment sector due to the push for resource recycling and sustainable development[159]. Operational Performance - The company has established a comprehensive project management system to mitigate execution risks, although challenges remain[112]. - The company has successfully undertaken a drinking water deep treatment project with a daily processing capacity of 762,800 tons, and cumulative wastewater resource utilization projects with a daily processing capacity of approximately 1.3 million tons[102]. - The company has implemented 12 large-scale membrane filtration projects with a daily processing capacity of over 100,000 tons[94]. - The company has developed a digital twin platform for water plants, which has been successfully applied in multiple projects, marking a step towards commercialization[106]. - The company is implementing a customer-centric strategy, transitioning from project-centered to customer-centered operations to enhance client satisfaction and loyalty[167]. Risks and Challenges - The company is facing risks related to project execution, including potential delays and cost overruns due to unforeseen circumstances[112]. - The wastewater resource recovery business is primarily dependent on sales to large industrial enterprises, with revenue risks associated with industrial capacity fluctuations[113]. - The company is exposed to risks from increasing accounts receivable and reduced cash flow due to larger project scales and upfront investments[117]. - The company anticipates that investment in major infrastructure for drinking water and wastewater treatment will strengthen in the long term despite uncertainties from the COVID-19 pandemic[121]. Technological Innovations - The company has developed a core patented technology called the membrane universal platform technology, which is compatible with various ultrafiltration membrane components[15]. - The company is focusing on the development of high-quality recycled water through advanced treatment technologies[15]. - The company has launched a new generation of membrane water treatment products, aiming to enhance efficiency and reduce costs in water treatment operations[31]. - The company is recognized as a representative enterprise in the municipal wastewater deep treatment sector, with several projects exceeding a treatment capacity of 200,000 tons per day[63]. - The company has implemented a new dual-membrane technology (ultrafiltration + nanofiltration/reverse osmosis) for deep wastewater treatment, positioning itself as a leader in producing high-quality reclaimed water[64].