Financial Performance - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares, totaling 22,553,000 RMB, which accounts for 61.55% of the net profit attributable to shareholders for the year 2021[5]. - The company has not yet achieved profitability since its listing[4]. - The company's operating revenue for 2021 was CNY 420,239,898.12, representing a 55.26% increase compared to the previous year, primarily driven by a 54.11% increase in revenue from condensate water treatment system equipment and a 36.81% increase from desalination system equipment[24]. - The net profit attributable to shareholders for 2021 was CNY 36,639,644.35, a decrease of 16.85% from the previous year[22]. - The net cash flow from operating activities was -CNY 23,290,141.64, a decline of 195.41% year-on-year, mainly due to rapid project advancement and increased procurement scale[24]. - The total assets at the end of 2021 were CNY 931,498,959.11, an increase of 28.01% from the end of 2020[22]. - The net assets attributable to shareholders at the end of 2021 were CNY 653,435,873.28, reflecting a 56.18% increase from the end of 2020[22]. - The basic earnings per share for 2021 were CNY 0.38, down 30.91% from CNY 0.55 in 2020[23]. - The gross profit margin decreased by 7.84 percentage points compared to the previous year[98]. - The company reported a significant increase in sales expenses by 126.73% due to increased property insurance costs[98]. Research and Development - The R&D expenditure as a percentage of operating revenue was 3.77%, a decrease of 2.82 percentage points from the previous year[23]. - The company began R&D on hydrogen fuel cell engine systems in 2021, with the first prototype passing national quality inspections in the second half of the year[30][36]. - The R&D team comprises 41.50% of the workforce, with 43 authorized patents, including 11 invention patents[33]. - The total R&D investment for the year was approximately ¥15.82 million, a decrease of 11.23% compared to the previous year, with R&D expenses accounting for 3.77% of total revenue[79]. - The company has developed new technologies, including a membrane-based river management process and a distillation method for industrial wastewater treatment, both of which are now leading in the domestic market[80]. - The company has filed for 10 new patents during the reporting period, with a total of 72 applications and 58 granted patents[77]. Market Position and Strategy - The company has established a strong market position in the nuclear and thermal power industries, supplying condensate water treatment systems for 14 operational nuclear power units as of the end of 2021[62]. - The company is focusing on integrating modular water treatment systems to improve equipment utilization and meet diverse water treatment needs, aligning with current market and green development demands[66]. - The company is actively expanding its water treatment business into non-power industries, leveraging its technology and project experience to enter sectors such as metallurgy and chemicals[132]. - The company has been involved in international projects since 2010, including providing water treatment systems for significant overseas power generation projects, enhancing its global presence[133]. - The company is committed to enhancing its technological innovation and customer-oriented approach to strengthen its market position[127]. Governance and Management - The company has established a comprehensive governance structure, adhering to legal and regulatory requirements, and has held multiple board and shareholder meetings to ensure effective decision-making[138]. - The company has maintained a stable leadership structure with no changes in shareholding among key executives during the reporting period[145]. - The company has established a performance bonus system linked to the completion of annual operational targets and individual performance evaluations[154]. - The company has a remuneration and assessment committee responsible for setting evaluation standards and remuneration policies for directors and senior management[153]. Environmental and Social Responsibility - The company actively promotes energy conservation and resource-saving practices, including the use of energy-efficient equipment and advocating for paperless operations[186]. - The company has established an environmental management system and conducts regular training to enhance employee awareness of environmental protection[185]. - The company has committed to reducing carbon emissions and has taken measures to promote green development in line with national "dual carbon" goals[186]. - The company donated 50,000 yuan to the Haiyan County Charity Association during the reporting period[192]. Risks and Challenges - The company faces market competition risks as competitors enhance their financial strength and technical capabilities in the water treatment equipment sector[90]. - The company has a risk of increased accounts receivable and contract assets due to rapid business growth, which may affect cash flow and operational efficiency[91]. - The company’s operations are closely tied to the construction status of its clients, making it vulnerable to project delays due to external factors[92].

Financial Performance - The company's operating revenue for Q3 2021 was ¥45,302,092.31, a decrease of 71.50% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2021 was ¥7,084,316.94, down 75.29% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥7,164,896.94, a decrease of 74.65% compared to the previous year[5] - The basic earnings per share for Q3 2021 was ¥0.07, reflecting an 80.56% decline from the same period last year[6] - Total operating revenue for the first three quarters of 2021 was CNY 160,180,309.97, a decrease of 8.8% compared to CNY 175,667,263.01 in the same period of 2020[20] - Net profit for the first three quarters of 2021 was CNY 18,849,819.51, a decline of 8.0% from CNY 20,679,480.96 in the same period of 2020[22] - Basic and diluted earnings per share for the first three quarters of 2021 were CNY 0.20, compared to CNY 0.26 in the same period of 2020[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥886,095,370.51, an increase of 21.77% compared to the end of the previous year[6] - As of September 30, 2021, the company's total assets amounted to ¥886,095,370.51, an increase from ¥727,660,054.80 at the end of 2020, reflecting a growth of approximately 21.8%[16] - The total current liabilities decreased to ¥249,820,421.11 from ¥306,808,961.64, a reduction of about 18.6%[18] - The total liabilities decreased to ¥252,002,755.55 from ¥309,269,059.88, a decline of about 18.5%[18] - The company's equity increased to ¥422,092,614.83, up from ¥225,240,798.30, reflecting a growth of approximately 87.5%[18] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥61,397,293.39, indicating a significant cash outflow[6] - Cash flow from operating activities for the first three quarters of 2021 was negative CNY 61,397,293.39, a significant decrease from positive CNY 232,324.80 in the previous year[26] - Net cash flow from investing activities was -$30.45 million, compared to -$18.46 million in the previous period, indicating an increase in cash outflow for investments[27] - Total cash inflow from financing activities reached $332.89 million, significantly higher than $128.58 million in the prior period, reflecting strong capital raising efforts[27] - Net cash flow from financing activities was $154.44 million, a substantial increase from $12.75 million in the previous quarter, showcasing improved financial health[27] - Cash and cash equivalents at the end of the period totaled $94.78 million, up from $22.47 million at the end of the previous period, indicating a strong liquidity position[27] - The company received $217.79 million in cash from investments, highlighting robust investor confidence and support[27] - Cash outflow for debt repayment was $89.70 million, compared to $36.36 million in the previous period, reflecting increased debt management activities[27] Research and Development - Research and development expenses totaled ¥4,333,971.39, accounting for 9.57% of operating revenue, which is an increase of 1.91 percentage points year-on-year[6] - Research and development expenses for the first three quarters of 2021 amounted to CNY 11,931,327.34, an increase of 22.6% from CNY 9,731,075.42 in 2020[20] Inventory and Receivables - Accounts receivable increased to ¥354,915,657.73 from ¥304,395,526.59, representing a rise of approximately 16.6%[16] - Inventory levels rose to ¥62,886,330.79, compared to ¥29,214,484.43, marking an increase of around 115.5%[17] - The company reported a significant increase in prepayments, which rose to ¥31,124,282.50 from ¥14,178,576.56, indicating a growth of about 119.8%[17] Shareholder Information - The number of shares held by the largest shareholder, Shen Wanzhong, is 34,330,000, representing 32.10% of total shares[13] Strategic Focus - The company plans to continue focusing on market expansion and new product development to drive future growth[22] Other Financial Metrics - The weighted average return on equity was 1.12%, a decrease of 6.41 percentage points compared to the previous year[6] - The company reported a significant decline in sales revenue, which primarily impacted net profit figures for the quarter[10] - The company recorded a credit impairment loss of CNY -6,274,550.95, an improvement compared to CNY -8,325,971.77 in the previous year[21] - The company did not apply the new leasing standards for the current financial year, which may affect future financial reporting[27] - The impact of exchange rate changes on cash and cash equivalents was minimal at -$25.26, indicating stability in foreign exchange operations[27]

Financial Performance - The company reported a significant increase in revenue for the first half of 2021, with total revenue reaching RMB 500 million, representing a 25% year-over-year growth[12]. - The company's operating revenue for the first half of 2021 reached approximately ¥114.88 million, a significant increase of 587.35% compared to the same period last year[20]. - Net profit attributable to shareholders was approximately ¥11.77 million, marking a 247.34% increase year-over-year, primarily driven by the rise in operating revenue[20]. - Basic earnings per share improved to ¥0.11, a 210.00% increase from a loss of ¥0.10 in the previous year[19]. - The company's total assets reached ¥893,571,999.57, reflecting a growth of 22.80% compared to the previous year[58]. - The company's net assets attributable to shareholders increased by 50.19% to approximately ¥628.38 million, largely due to the public issuance of shares during the reporting period[20]. - The total comprehensive income for the first half of 2021 was ¥11,765,502.57, compared to a comprehensive loss of ¥7,985,347.92 in the same period of 2020[167]. - The company reported a net profit of CNY 17,207,866.41 for the first half of 2021, a significant improvement from a net loss in the same period of 2020[165]. Research and Development - The company has allocated RMB 50 million for research and development in the upcoming year to innovate and improve existing technologies[12]. - The company's R&D investment for the first half of 2021 amounted to approximately ¥7.60 million, representing a 21.99% increase compared to the previous period[45]. - The company has established a research and development center for high-tech products, emphasizing large-scale water treatment systems and automation products[27]. - The company has developed several patented technologies for wastewater treatment, including a solar-powered wastewater evaporation device and a multifunctional energy-saving continuous evaporation crystallization system[40]. - The company has successfully applied its products in various power industry projects, including clients like Guodian Shuangwei and China Resources Power[29]. - The company holds 37 authorized patents, including 9 invention patents and 28 utility model patents, showcasing its strong R&D capabilities[52]. Market Expansion and Strategy - The company is expanding its market presence, targeting new regions in Southeast Asia, with plans to establish two new facilities by the end of 2022[12]. - A strategic acquisition of a local competitor is in progress, which is anticipated to increase market share by 10%[12]. - The company aims to strengthen its position in the nuclear and thermal power water treatment market by optimizing core technologies and promoting product development[42]. - The company plans to enhance its product matrix by self-producing key materials for membrane water treatment, which will lower production costs and improve competitiveness[53]. - The company aims to expand its business into other industrial water treatment sectors beyond power generation, leveraging its technological advancements[59]. Sustainability and Environmental Initiatives - The management highlighted a focus on sustainability initiatives, aiming to reduce carbon emissions by 15% by 2023[12]. - The company plans to invest CNY 540,000 in environmental protection facilities to reduce dust, noise, and wastewater pollution from new projects[87]. - The company has implemented measures to ensure that emissions meet the standards for air pollutants and wastewater discharge[88]. - The company has not been listed as a key pollutant discharge unit and has complied with environmental regulations, with no administrative penalties received[86]. Financial Management and Shareholder Relations - The board has approved a profit distribution plan, with a proposed dividend payout ratio of 30% for the fiscal year[12]. - The company has established a detailed profit distribution mechanism to protect shareholders' rights[110]. - The company will ensure that the profit distribution plan adheres to the review procedures established by the shareholders' meeting[113]. - The company committed to strengthen fundraising management and ensure that raised funds are used legally and reasonably[109]. - The company will publicly explain any failure to implement stock price stabilization measures and apologize to investors[108]. Risks and Challenges - The company faces risks related to customer concentration, with the top five customers accounting for a significant portion of total revenue[63]. - The company imports 20-30% of its components, which poses a risk if international trade conditions change adversely[65]. - The company has a risk of core technical personnel turnover, with 66 R&D staff making up 49.62% of total employees, highlighting the importance of retaining key talent[66]. Shareholding Structure and IPO Commitments - The company reported a lock-up period of 36 months for shares held by major shareholders following the IPO approval on May 13, 2021[94]. - Major shareholders are restricted from transferring more than 25% of their shares annually during their tenure and for six months post-departure[96]. - The company will ensure compliance with all relevant laws and regulations during the share reduction process[105]. - The commitments made by the controlling shareholder will remain effective for three years after they cease to be the controlling shareholder[116].