Financial Performance - The company's operating revenue for Q1 2023 was CNY 30,541,232.85, representing a year-on-year increase of 4.21%[2] - The net profit attributable to shareholders for the same period was CNY 8,721,153.37, reflecting a growth of 12.14% compared to the previous year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 8,760,389.17, up by 12.65% year-on-year[2] - The basic earnings per share for Q1 2023 was CNY 0.0250, an increase of 12.11% from the same period last year[2] - The net profit attributable to the parent company was CNY 31.24 million, compared to CNY 22.52 million in the same period last year, reflecting a growth of approximately 38.5%[12] - Total operating revenue for Q1 2023 was ¥30,541,232.85, an increase of 4.22% compared to ¥29,306,211.75 in Q1 2022[15] - Net profit for Q1 2023 reached ¥8,720,130.76, representing a 12.13% increase from ¥7,775,743.08 in Q1 2022[16] - The company reported a total profit of ¥9,805,721.53 for Q1 2023, an increase of 16.38% from ¥8,423,812.21 in Q1 2022[16] Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 4,760,774.12, a decline of 124.14% compared to the previous year[5] - Cash flow from operating activities showed a net outflow of ¥4,760,774.12, worsening from a net outflow of ¥2,124,002.43 in Q1 2022[19] - The company reported a cash balance of CNY 46.67 million, an increase from CNY 41.21 million year-on-year[10] - Cash and cash equivalents at the end of Q1 2023 totaled ¥46,157,494.00, significantly up from ¥1,168,757.72 at the end of Q1 2022[20] - The company's cash flow from operating activities showed a slight positive net cash flow of CNY 28,350.20 in Q1 2023, compared to a negative cash flow of CNY -447,568.57 in Q1 2022[29] - The net increase in cash and cash equivalents was $28,349.75[30] - The ending balance of cash and cash equivalents reached $238,606.94[30] - The beginning balance of cash and cash equivalents was $210,257.19[30] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,070,059,261.75, a slight increase of 0.34% from the end of the previous year[3] - The total current assets amounted to CNY 365.84 million, up from CNY 355.56 million year-on-year[11] - The total assets of the company were CNY 1,070.06 million, slightly increasing from CNY 1,066.45 million at the end of the previous year[12] - The company's total liabilities decreased to CNY 494.41 million from CNY 499.52 million year-on-year[12] - The total current assets amounted to CNY 1,076,106.94 as of March 31, 2023, up from CNY 1,034,757.19 at the end of 2022, indicating an increase of approximately 4%[23] - The total liabilities stood at CNY 98,790,058.02 as of March 31, 2023, slightly up from CNY 98,491,959.80 at the end of 2022[24] - The total non-current liabilities were CNY 382.13 million, marginally down from CNY 382.67 million year-on-year[12] Shareholder Equity - Shareholders' equity attributable to the parent company was CNY 574,791,187.03, up by 1.54% from the previous year-end[3] - The weighted average return on equity decreased by 0.13 percentage points to 1.53%[2] - The company has no significant changes in its major shareholders' equity structure, maintaining stability in ownership[9] Expenses and Taxation - The income tax expense increased by 67.51% due to higher income from a wholly-owned subsidiary, leading to an overall increase in profit[5] - The company incurred a tax expense of ¥1,085,590.77 in Q1 2023, up from ¥648,069.13 in Q1 2022[16] - The company's management expenses decreased to CNY 838,326.00 in Q1 2023 from CNY 921,058.41 in Q1 2022, reflecting a reduction of approximately 9%[26] Non-Recurring Items - The company reported a non-recurring loss of CNY 39,235.80, primarily due to a donation expense of CNY 100,000[5] - The company’s investment income for Q1 2023 was ¥2,866,147.24, down from ¥5,041,729.82 in the same period last year[15] - The company reported other income of CNY 766.66 in Q1 2023, which was not reported in Q1 2022[26] Management and Reporting - The report was released on April 26, 2023[30] - The company is led by Yu Aixin, with accounting responsibilities held by Lian Aiqin[30] - The company is not applying new accounting standards for the current year[30] - The company faces significant financial risks due to potential delays in receiving new energy subsidies[9]

Financial Performance - In 2022, the company achieved a net profit attributable to shareholders of 40.50 million RMB, an increase of 46.39% compared to 27.66 million RMB in 2021[6]. - The total operating revenue for 2022 was 119.91 million RMB, reflecting a growth of 6.05% from 113.07 million RMB in 2021[20]. - The net cash flow from operating activities surged to 77.40 million RMB, marking a significant increase of 258.88% compared to 21.57 million RMB in 2021[20]. - The basic earnings per share for 2022 was 0.1160 RMB, representing a 46.28% increase from 0.0793 RMB in 2021[21]. - The weighted average return on equity increased to 7.42% in 2022, up from 5.41% in 2021, an increase of 2.01 percentage points[21]. - The net profit after deducting non-recurring gains and losses was 43.49 million RMB, a 75.48% increase from 24.78 million RMB in 2021[20]. - The company reported a consolidated net profit attributable to shareholders of 40.50 million RMB, which is an increase of 46.39% year-on-year[33]. - The company reported a net profit of CNY 22,522,041.61 in 2022, a turnaround from a loss of CNY 17,973,852.37 in 2021[144]. - Net profit for 2022 was CNY 40,552,488.12, representing a 46.3% increase compared to CNY 27,645,754.80 in 2021[150]. Cash Flow and Assets - The company's total assets at the end of 2022 reached 1.07 billion RMB, up 4.19% from 1.02 billion RMB at the end of 2021[20]. - The total assets at the end of the period amounted to ¥1,067,000,000, with cash and cash equivalents representing 3.86% of total assets, up from 0.12% in the previous period[48]. - The company reported a significant increase in cash and cash equivalents to ¥41,209,205.88, a rise of 3,386.79% compared to the previous year[48]. - Cash flow from operating activities increased significantly to ¥77,396,124.01 in 2022, compared to ¥21,566,143.70 in 2021[157]. - The total equity at the end of the period is CNY 485,278,898.22, reflecting a decrease of CNY 65,502,542.88 compared to the previous year[178]. Operational Highlights - The total electricity settlement for the subsidiary reached 15,897.25 million kWh in 2022, a year-on-year increase of 3.92%[28]. - The company received CNY 7,829.82 million in subsidy funds, with accounts receivable for renewable energy subsidies increasing to CNY 30,973.63 million by the end of the reporting period[28]. - The photovoltaic industry saw a 59.3% year-on-year increase in newly installed capacity, reaching 87.4 GW in 2022[29]. - The average utilization rate of photovoltaic power generation in China was 98.3% in 2022, with Gansu province maintaining a rate of 98.2%[29]. - The company faced significant financial pressure due to delayed subsidy payments, impacting operational stability[28]. Governance and Compliance - The company has not reported any significant changes or adjustments in its business, products, or services during the reporting period[42]. - The company has maintained a governance structure that complies with legal and regulatory requirements without significant discrepancies[70]. - The company has not engaged in any related party transactions that would affect its independence[70]. - The company has established a system for registering insiders of confidential information, ensuring compliance with regulations regarding information disclosure[70]. - The company has not reported any major contracts or their performance during the reporting period[113]. Shareholder Information - The largest shareholder, Guangzhou Jiaye Investment Group Co., Ltd., holds 103,370,000 shares, representing 29.62% of the total shares, all of which are pledged[118]. - The second largest shareholder, Guangzhou Noping Investment Co., Ltd., holds 41,080,000 shares, accounting for 11.77% of the total shares, also fully pledged[118]. - The company has a total of 5 shareholders holding more than 5% of the shares, with no known relationships among them[119]. - The controlling shareholder, Guangzhou Jiaye Investment Group Co., Ltd., has pledged all its shares to secure a loan of 5.9 billion RMB, due in December 2023[124]. Audit and Financial Reporting - The audit opinion confirmed that the financial statements fairly reflect the financial position and operating results for the year ended December 31, 2022[131]. - The audit was conducted in accordance with Chinese CPA auditing standards, ensuring the reliability of the financial reporting process[133]. - The financial statements include a consolidated balance sheet as of December 31, 2022, reflecting the company's financial health[141]. - The audit firm provided a clean audit opinion, indicating no significant issues were found during the audit process[131]. - The company has maintained compliance with Chinese accounting standards in preparing its financial statements[131]. Future Outlook - The company anticipates an overall recovery in the economy in 2023, with electricity consumption expected to grow by approximately 6% compared to 2022[30]. - The company plans to enhance its power station operation and maintenance system to ensure safe and stable operations in 2023[63]. - The company aims to expand electricity sales channels and maximize power station output indicators in 2023[63].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥64,689,599.26, representing a 15.39% increase compared to ¥56,060,760.11 in the same period last year[21] - The net profit attributable to shareholders for the first half of 2022 was ¥22,048,239.05, a significant increase of 47.88% from ¥14,909,818.13 in the previous year[21] - The basic earnings per share for the first half of 2022 was ¥0.0632, up 48.01% from ¥0.0427 in the same period last year[22] - The cash flow from operating activities for the first half of 2022 was ¥4,938,014.39, a recovery from a negative cash flow of ¥785,437.93 in the same period last year[21] - The weighted average return on net assets for the first half of 2022 was 4.11%, an increase of 1.16 percentage points compared to 2.95% in the previous year[22] - The company achieved a settlement electricity volume of 83.14 million kWh, an increase of 6.55 million kWh or 8.55% year-on-year[29] - The operating revenue reached RMB 64.69 million, up RMB 8.63 million or 15.39% compared to the previous year[29] - The net profit attributable to shareholders was RMB 22.05 million, reflecting a year-on-year increase of RMB 7.14 million or 47.88%[29] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,045,283,539.34, reflecting a 2.12% increase from ¥1,023,536,692.02 at the end of the previous year[21] - The net assets attributable to shareholders increased by 4.20% to ¥547,622,378.73 from ¥525,574,139.68 at the end of the previous year[21] - The total liabilities decreased slightly from CNY 497,163,358.30 to CNY 496,896,540.09, indicating a reduction of about 0.05%[67] - The total equity attributable to shareholders rose from CNY 525,574,139.68 to CNY 547,622,378.73, marking an increase of approximately 4.2%[67] - The company's short-term loans amounted to CNY 25 million, showing a slight decrease of 0.18% compared to the previous period[36] - Long-term loans stood at CNY 386.6 million, reflecting a marginal increase of 0.15% from the last period[36] - The total restricted assets reached CNY 453.26 million, primarily due to collateral for bank loans[37] Cash Flow and Financial Management - The cash flow from operating activities was RMB 4.94 million, a significant improvement from a negative RMB 0.79 million in the previous year[35] - The company's financial expenses decreased by 4.68% year-on-year, amounting to RMB 13.06 million[35] - The company's cash and cash equivalents decreased from CNY 1,181,867.78 to CNY 795,056.70, representing a decline of approximately 32.6%[65] - The total cash inflow from operating activities was 1,770,405.29 RMB, while total cash outflow was 3,007,655.70 RMB, leading to a net cash outflow of 1,237,250.41 RMB[83] - The company reported a cash and cash equivalents balance of CNY 277,856.70 at the end of the first half of 2022, down from CNY 2,383,819.81 at the end of the first half of 2021[80] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 22,333[55] - The largest shareholder, Guangzhou Jiaye Investment Group Co., Ltd., holds 103,370,000 shares, representing 29.62% of the total shares[57] - The second largest shareholder, Guangzhou Noping Investment Co., Ltd., holds 41,080,000 shares, representing 11.77% of the total shares[57] Risk and Compliance - The report includes a risk statement regarding forward-looking statements, advising investors to be cautious of investment risks[5] - The company has not made any profit distribution or capital reserve transfer plans for this reporting period[4] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[6] - The company maintains a good integrity status, with no major debts or court judgments outstanding[47] Investment and Growth Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[71] - The company is committed to environmental protection, emphasizing the development of the photovoltaic industry as a clean energy source[44] - The management emphasized ongoing efforts in research and development to drive future growth and market expansion[90] Accounting Policies and Financial Reporting - The financial statements are prepared based on the going concern assumption, ensuring the company's ability to continue its operations[101] - The company adheres to the accounting policies set forth by the Ministry of Finance, ensuring compliance with relevant accounting standards[102] - The company has not reported any changes in accounting policies or significant errors in prior periods that would affect the current financial statements[100] - The company confirms its share of assets and liabilities in joint operations, ensuring proper accounting treatment according to relevant standards[115] Inventory and Asset Management - Inventory is classified into categories such as raw materials, work in progress, and finished goods, with initial measurement based on procurement and processing costs[135] - The company uses the FIFO (First-In, First-Out) method for inventory valuation upon issuance[136] - The company adopts a perpetual inventory system for tracking inventory[138] Revenue Recognition - Revenue is recognized when the company fulfills its performance obligations, which occurs when the customer obtains control of the related goods or services[176] - The company recognizes revenue based on the progress of performance obligations over time, using either the output method or input method to determine progress[178] Lease Accounting - The company confirms the recognition of right-of-use assets for leases, excluding short-term and low-value asset leases, measured at cost including initial lease liabilities and direct costs[188] - Lease liabilities are initially measured at the present value of unpaid lease payments, using the company's incremental borrowing rate if the implicit rate cannot be determined[189] - The company does not recognize variable lease payments in the measurement of lease liabilities until they are incurred[190]

Financial Performance - The company's operating revenue for Q1 2022 was CNY 29,306,211.75, representing a year-on-year increase of 5.09%[3] - The net profit attributable to shareholders for the same period was CNY 7,776,766.85, showing a decrease of 6.97% compared to the previous year[3] - The basic and diluted earnings per share were both CNY 0.022, reflecting a decrease of 6.97% from the previous year[3] - Net profit for Q1 2022 was CNY 7,775,743.08, a decrease of 7% from CNY 8,365,931.01 in Q1 2021[13] - Earnings per share for Q1 2022 were CNY 0.022, down from CNY 0.024 in Q1 2021[14] Cash Flow - The net cash flow from operating activities was negative at CNY -2,124,002.43, a decline of 49.15% year-on-year[3] - Cash flow from operating activities for Q1 2022 was CNY 7,405,484.51, up from CNY 6,210,624.32 in Q1 2021[16] - The net cash flow from operating activities was -$2,124,002.43, compared to -$1,424,026.71 in the previous year, indicating a decline in operational cash flow[17] - Total cash inflow from investment activities was $21,251,629.91, down from $25,895,533.92 year-over-year[17] - The net cash flow from investment activities was $9,037,429.91, a decrease from $16,799,036.92 in the prior year[17] - Cash received from operating activities totaled $7,413,551.55, up from $6,226,800.34 year-over-year[17] Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,033,152,380.27, an increase of 0.94% from the end of the previous year[3] - Total liabilities as of Q1 2022 amounted to CNY 499,003,303.46, compared to CNY 497,163,358.30 in the previous year[12] - The total assets as of Q1 2022 were CNY 1,033,152,380.27, compared to CNY 1,023,536,692.02 in the previous year[12] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 22,314[6] - The top shareholder, Guangzhou Jiaye Investment Group Co., Ltd., held 29.62% of the shares, amounting to 103,370,000 shares, all of which were pledged[6] - The equity attributable to shareholders increased to CNY 533,350,906.53, up by 1.48% from the previous year-end[3] - Total equity attributable to shareholders was CNY 533,350,906.53, an increase from CNY 525,574,139.68 in Q1 2021[12] Investment and Financing Activities - Cash paid for investments was $12,090,000.00, an increase from $9,000,000.00 in the previous year[17] - Cash paid for taxes was $4,645,880.31, compared to $3,358,962.75 in the prior year, reflecting an increase in tax payments[17] - Cash outflow from financing activities totaled $6,409,337.41, slightly higher than $6,322,873.80 in the previous year[18] - The net increase in cash and cash equivalents was $504,089.94, significantly lower than $9,052,136.63 in the same quarter last year[18] - The ending balance of cash and cash equivalents was $1,168,757.72, compared to $24,673,905.28 at the end of the previous year[18] Impairment and Other Losses - The company reported a credit impairment loss of CNY -4,526,526.44 in Q1 2022, worsening from CNY -2,465,085.05 in Q1 2021[13] - The company reported a significant decrease in cash flow due to delays in receiving subsidies from Jingyuan Deyou New Energy[4]

Financial Performance - The company's net profit attributable to shareholders for 2021 was CNY 27.66 million, an increase of 26.85% compared to CNY 21.81 million in 2020[6]. - Total revenue for 2021 reached CNY 113.07 million, reflecting a growth of 13.75% from CNY 99.41 million in 2020[20]. - The basic earnings per share for 2021 was CNY 0.0793, up 26.88% from CNY 0.0625 in 2020[21]. - The net profit attributable to shareholders for the year was CNY 2,766 million, representing a year-on-year increase of 26.85%[29]. - The total operating revenue for 2021 was CNY 113,070,975.49, an increase of 13.4% compared to CNY 99,405,594.98 in 2020[170]. - Net profit for 2021 was CNY 27,645,754.80, up 26.5% from CNY 21,858,686.00 in 2020[171]. - The total comprehensive income for the year was CNY 27,663,115.82, indicating a significant recovery from the previous year's loss of CNY 67,445,869.63[188]. Assets and Liabilities - The company's total assets as of the end of 2021 were CNY 1.02 billion, a slight increase of 1.48% from CNY 1.01 billion at the end of 2020[20]. - The total assets and owners' equity amounted to CNY 580,104,385.13 and CNY 485,278,898.22 respectively at the end of 2021[168]. - Total liabilities decreased to CNY 497,163,358.30 in 2021 from CNY 509,834,418.24 in 2020, a reduction of approximately 2.5%[162]. - The company’s total liabilities to equity ratio improved to approximately 0.94 in 2021 from 1.02 in 2020, indicating a stronger financial position[162]. Cash Flow - The net cash flow from operating activities for 2021 was CNY 21.57 million, a decrease of 61.39% compared to CNY 55.85 million in 2020[20]. - Operating cash inflow for 2021 was CNY 81,470,860.39, a decrease of 3.3% from CNY 84,176,076.09 in 2020[175]. - Cash inflow from financing activities decreased to CNY 54,000,000.00 in 2021 from CNY 94,000,000.00 in 2020, a decline of 42.5%[176]. - The total cash and cash equivalents at the end of 2021 were CNY 664,667.78, down from CNY 15,621,768.65 at the end of 2020[176]. Operational Highlights - The total annual settlement electricity for the company reached 15,297 million kWh, an increase of 1,160 million kWh or 8.2% year-on-year, resulting in annual revenue of CNY 11,307 million, up 13.75%[29]. - The company's photovoltaic power station achieved a total settlement electricity of 15,297 million kWh, an increase of 1,160 million kWh, representing a growth rate of 8.2% year-on-year[36]. - The company faced significant pressure from delayed renewable energy subsidy payments, with receivables from subsidies reaching CNY 28,867 million by the end of 2021, an increase of CNY 6,924 million from the previous year[29]. Strategic Focus - The company plans to focus on risk management and has outlined potential risks in the annual report[8]. - The company is focusing on clean energy as a strategic emerging industry, with clear expectations for electricity revenue due to the long operational cycle and low maintenance costs of power station assets[35]. - The company plans to enhance its internal control system and improve management levels in 2022 to ensure sustainable development[70]. - The company aims to expand electricity sales channels and maximize output indicators in 2022[70]. Governance and Compliance - The board of directors consists of 6 members, including 2 independent directors, complying with legal and regulatory requirements[76]. - The company has established a performance evaluation and incentive mechanism, including a salary and allowance system for directors and a performance assessment system[76]. - The audit committee is chaired by an independent director with accounting expertise, ensuring effective oversight of financial matters[76]. - The company maintains independence from its controlling shareholder in business, personnel, assets, and financial matters, with no instances of fund occupation or illegal guarantees as of December 31, 2021[75]. Challenges and Risks - The company is facing challenges with subsidy payments and financial support for renewable energy projects, which have not been resolved effectively[34]. - As of the end of 2021, the company faced a significant risk of subsidy payment delays, with nearly 290 million yuan in overdue payments[72]. - The company faced challenges related to regional power restrictions and pricing pressures due to rapid industry growth[72]. Shareholder Information - The largest shareholder, Guangzhou Jiaye Investment Group, holds 103,370,000 shares, representing 29.62% of total shares, all of which are pledged[134]. - The total number of ordinary shareholders as of the end of the reporting period is 22,442, an increase from 22,314 at the end of the previous month[132]. - The total number of shares held by the top ten shareholders with limited sale conditions is 159,000,000, which is a substantial portion of the company's equity[136]. Audit and Financial Reporting - The audit report confirmed that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2021[149]. - The audit procedures included evaluating the internal controls related to accounts receivable management and assessing the reasonableness of management's estimates[152]. - The audit report was issued on April 18, 2022, by the accounting firm, confirming compliance with auditing standards[159].

Financial Performance - The company's operating revenue for Q3 2021 was ¥29,989,600.02, representing a year-over-year increase of 26.02%[3] - The net profit attributable to shareholders for the same period was ¥6,063,546.78, reflecting a growth of 5.84% compared to the previous year[3] - The net profit excluding non-recurring gains and losses also stood at ¥6,063,546.78, with a 5.84% increase year-over-year[3] - Net profit for the third quarter of 2021 was ¥20,976,338.84, up from ¥16,824,930.75 in the same quarter of 2020, representing a growth of 24.3%[15] - Total comprehensive income for the third quarter of 2021 reached ¥20,976,338.84, a significant increase from ¥16,824,930.75 in the same period of 2020, representing a growth of approximately 24.3%[16] - Basic and diluted earnings per share for the third quarter of 2021 were both ¥0.0601, compared to ¥0.0481 in the third quarter of 2020, reflecting an increase of 24.8%[16] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,038,486,662.66, marking a 2.97% increase from the end of the previous year[4] - The company's total assets as of September 30, 2021, amounted to ¥1,038,486,662.66, compared to ¥1,008,561,997.16 at the end of 2020, indicating a growth of 2.9%[13] - The total liabilities as of September 30, 2021, were ¥518,782,744.90, compared to ¥509,834,418.24 at the end of 2020, showing a slight increase of 1.9%[12] - The equity attributable to shareholders reached ¥518,884,388.77, which is a 4.21% increase compared to the previous year[4] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥7,757,663.47, showing a significant decline of 84.19% compared to the previous year[3] - Net cash flow from operating activities for the first three quarters of 2021 was ¥7,757,663.47, down 84.2% from ¥49,052,996.30 in the same period of 2020[19] - Cash inflow from sales of goods and services for the first three quarters of 2021 was ¥34,518,142.09, a decrease of 48.2% compared to ¥66,591,358.44 in the same period of 2020[18] - Total cash outflow from operating activities was ¥27,121,970.49 in the third quarter of 2021, compared to ¥19,432,134.84 in the same quarter of 2020, indicating an increase of 39.1%[19] - Cash inflow from investment activities totaled ¥60,965,440.34 in the first three quarters of 2021, slightly decreasing from ¥65,693,064.68 in 2020[19] - The company reported a cash and cash equivalents balance of ¥9,936,832.95 at the end of the third quarter of 2021, down from ¥41,305,613.29 at the end of the same quarter in 2020[20] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 22,625[7] - The top shareholder, Guangzhou Jiaye Investment Group Co., Ltd., held 29.62% of the shares, amounting to 103,370,000 shares, all of which were pledged[7] Investment and Impairment - Long-term equity investments rose to ¥306,302,511.77 from ¥297,255,780.10, an increase of 3.5%[11] - The company reported a decrease in undistributed profits to -¥24,663,603.28 from -¥45,636,968.19, indicating an improvement in retained earnings[13] - The company’s financial asset impairment losses were reported at -¥7,382,854.91, compared to -¥1,214,174.19 in the previous year, reflecting a significant increase in impairment losses[15] Operational Efficiency - Total operating costs decreased to ¥65,697,579.38 from ¥70,496,575.17, reflecting a reduction of approximately 6.4%[14] - Accounts receivable increased to ¥261,706,010.17 from ¥207,701,740.44, marking a rise of 26%[11] - Cash and cash equivalents decreased to ¥10,454,032.95 from ¥16,138,968.65, a decline of 35%[10] Market Activity - The company has not reported any new product launches or significant market expansion strategies in the current financial report[21]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 56,060,760.11, a 0.47% increase compared to CNY 55,800,086.82 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2021 was CNY 14,909,818.13, representing a 34.84% increase from CNY 11,057,078.31 in the previous year[19]. - The basic earnings per share for the first half of 2021 was CNY 0.0427, up 34.70% from CNY 0.0317 in the same period last year[20]. - The company reported a net loss of CNY 30,727,150.06, an improvement compared to a net loss of CNY 45,636,968.19 in the previous year[64]. - The total comprehensive income for the first half of 2021 was CNY 14,913,774.36, compared to CNY 11,097,328.84 in the same period of 2020, reflecting a growth of 34.5%[73]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 1,010,474,970.59, a slight increase of 0.19% from CNY 1,008,561,997.16 at the end of the previous year[19]. - The company's net assets attributable to shareholders at the end of the reporting period were CNY 512,820,841.99, reflecting a 2.99% increase from CNY 497,911,023.86 at the end of the previous year[19]. - The total liabilities increased, with cash and cash equivalents decreasing by 82.02% to 2.9 million yuan due to partial repayment of bank loans[29]. - Total liabilities decreased to CNY 496,833,617.31 from CNY 509,834,418.24, a reduction of approximately 2.2%[64]. - Current assets totaled CNY 260,296,297.82, up from CNY 246,874,783.07, indicating an increase of approximately 5.8%[63]. Cash Flow - The company reported a net cash flow from operating activities of CNY -785,437.93, which is not comparable to the previous year's CNY 12,849,070.04[19]. - Operating cash flow turned negative at -785,438 yuan, compared to a positive 12.85 million yuan in the same period last year[28]. - The net cash increase for the first half of 2021 was -13,237,948.84 RMB, an improvement from -21,544,393.24 RMB in the first half of 2020[81]. - The total cash outflow from operating activities was 16,367,132.46 RMB in the first half of 2021, compared to 11,928,486.69 RMB in the same period of 2020, indicating a rise of approximately 37%[80]. - Cash and cash equivalents at the end of the first half of 2021 stood at 2,383,819.81 RMB, a decrease from 14,026,211.32 RMB at the end of the first half of 2020[81]. Operational Highlights - The company's main business includes photovoltaic power generation and commercial property leasing, with electricity revenue being the primary source of income[22]. - The national electricity consumption increased by 16.2% year-on-year in the first half of 2021, indicating a strong economic recovery[22]. - The installed capacity of solar power generation increased by 23.7% year-on-year, contributing to the growth of renewable energy sources[23]. - The photovoltaic power station achieved a settlement electricity of 76.59 million kWh, a year-on-year decrease of 2.25%[24]. - The company is exploring partnerships with local power grid authorities to secure contract electricity shares that match the scale of its power stations[25]. Cost Management - The company reduced its operating costs by 13.86% year-on-year, with management expenses down by 20.84%[28]. - Total operating costs decreased to CNY 43,225,741.82 from CNY 48,496,063.97, reflecting a reduction of about 10.5%[71]. - The company's management expenses rose to CNY 3,154,540.88 in the first half of 2021, compared to CNY 3,984,929.38 in the previous year, showing a decrease of 20.8%[72]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 22,825[52]. - The top shareholder, Guangzhou Jiaye Investment Group, holds 103,370,000 shares, representing 29.62% of the total shares, all of which are pledged[54]. - Guangzhou Noping Investment holds 41,080,000 shares, accounting for 11.77% of the total shares, also fully pledged[54]. - The total number of restricted shares held by major shareholders is 159,000,000, with all being non-circulating stocks[56]. Regulatory and Compliance - The company has not faced any environmental penalties and has implemented measures to protect the environment and address climate change[41]. - There were no significant lawsuits or arbitration matters during the reporting period[44]. - The company has not disclosed any stock incentive plans or employee stock ownership plans during the reporting period[39]. - The company has not engaged in any major related party transactions during the reporting period[45]. - The company has maintained a good integrity status without any major debts or court judgments pending[44]. Investment and Income - Investment income from joint ventures increased by 49% year-on-year to 7.2 million yuan[24]. - The company reported a decrease in trading financial assets from ¥16,600,000.00 at the end of 2020 to zero as of June 30, 2021[62]. - The company’s long-term investments in equity reached CNY 304,459,957.13, up from CNY 297,255,780.10, indicating an increase of about 2.4%[63]. - Investment income increased to CNY 7,566,015.09 in the first half of 2021, compared to CNY 4,987,949.06 in the same period of 2020, marking a growth of 51.5%[72]. Risk Management - The company faced significant cash flow pressure with accounts receivable for new energy subsidies increasing to 269 million yuan, a rise of 20.05% compared to the end of the previous year[29]. - The company is facing risks related to operational maintenance, regional power restrictions, and delays in renewable energy subsidy payments, which account for two-thirds of its electricity settlement income[32]. - The company aims to enhance internal management to reduce operational failures and maximize electricity generation[25].

Financial Performance - Operating revenue rose by 17.35% to CNY 27,886,218.46 year-on-year[7] - Net profit attributable to shareholders surged by 287.51% to CNY 8,359,112.84 compared to the same period last year[7] - Basic and diluted earnings per share increased by 300% to CNY 0.024[7] - The company reported a net profit from continuing operations of CNY 8,365,931.01 in Q1 2021, compared to CNY 2,156,252.67 in Q1 2020, indicating a growth of around 287%[20] - The total comprehensive income attributable to the parent company was CNY 8,359,112.84 in Q1 2021, compared to CNY 2,157,154.99 in Q1 2020, marking an increase of about 287%[19] - The total profit for Q1 2021 was CNY 8,365,931.01, compared to CNY 2,156,252.67 in Q1 2020, reflecting a growth of about 287%[18] Asset and Liability Management - Total assets increased by 1.01% to CNY 1,018,710,675.25 compared to the end of the previous year[7] - Total liabilities increased slightly to CNY 511,617,165.32 from CNY 509,834,418.24, a change of 0.4%[13] - The company’s total equity increased to CNY 507,093,509.93 from CNY 498,727,578.92, reflecting a growth of 1.5%[13] - Long-term equity investments increased to CNY 301,296,095.82 from CNY 297,255,780.10, showing a growth of 1%[12] - Accounts receivable increased by 11.03% to CNY 230,609,266.80 compared to the end of the previous year[9] Cash Flow Analysis - Cash flow from operating activities showed a negative value of CNY -1,424,026.71, compared to a positive CNY 9,277,117.52 in the same period last year[7] - Cash flow from operating activities was CNY 6,210,624.32 in Q1 2021, down from CNY 14,233,574.80 in Q1 2020, showing a decrease of about 56%[22] - The net cash flow from operating activities for Q1 2021 was -1,424,026.71 RMB, a significant decrease compared to 9,277,117.52 RMB in Q1 2020[23] - The company reported a total cash inflow from operating activities of 3,604,968.20 RMB, down from 6,010,468.53 RMB in Q1 2020[25] - The net cash flow from operating activities for the parent company was 1,059,812.63 RMB, a recovery from -371,023.97 RMB in the previous year[25] Investment Income - Investment income rose by 45.34% to CNY 4,335,849.64 compared to the same period last year[9] - The company reported investment income of CNY 4,040,315.72 in Q1 2021, an increase from CNY 2,891,509.59 in Q1 2020, indicating a growth of approximately 40%[19] Cost Management - Total operating costs decreased to CNY 21,391,052.04 from CNY 23,847,709.07, reflecting a reduction of 6.1%[17] - The company plans to continue focusing on cost management and operational efficiency to improve profitability in future quarters[17] - The company's management expenses increased to CNY 701,925.79 in Q1 2021 from CNY 474,292.09 in Q1 2020, representing a rise of approximately 48%[19] Shareholder Information - The total number of shareholders reached 22,983 by the end of the reporting period[8]

Financial Performance - The net profit attributable to shareholders for 2020 was CNY 21.81 million, a decrease of 13.79% compared to CNY 25.30 million in 2019[5]. - Total operating revenue for 2020 was CNY 99.41 million, down 5.35% from CNY 105.02 million in 2019[20]. - The basic earnings per share for 2020 was CNY 0.0625, a decrease of 13.79% from CNY 0.0725 in 2019[21]. - The weighted average return on equity for 2020 was 4.72%, down 0.74 percentage points from 5.46% in 2019[21]. - The company reported a net profit of CNY 5.02 million in Q4 2020, compared to CNY 5.73 million in Q3 2020[24]. - The company achieved a total electricity settlement of 141.37 million kWh in 2020, a decrease of 5.35% year-on-year[34]. - The company's operating revenue for the year was 99.41 million RMB, a decline of 5.35% year-on-year, with a net profit attributable to shareholders of 21.81 million RMB, down 13.79%[34]. - The company reported an investment income of 13.99 million RMB from its joint venture Guangzhou Weicheng, a decrease of 27.98% year-on-year[34]. - The company reported a net loss of CNY 45,636,968.19, an improvement from a loss of CNY 67,445,869.63 in the previous year[136]. - The company’s net profit for 2020 was CNY 13,973,975.26, a decrease from CNY 21,181,091.99 in 2019, representing a decline of approximately 34.1%[147]. Cash Flow and Assets - Cash flow from operating activities for 2020 was CNY 55.85 million, an increase of 25.02% compared to CNY 44.67 million in 2019[20]. - The cash and cash equivalents decreased to CNY 16,138,968.65 from CNY 36,087,804.56, a decline of about 55.3%[134]. - The company reported a net cash flow from operating activities of CNY 55.85 million, an increase of 25.02% compared to the previous year[37]. - The company’s cash flow from financing activities was not detailed in the provided data, indicating a potential area for further analysis in future reports[153]. - The total cash flow from investment activities was 1,188,108.00 RMB, with cash inflow from the disposal of fixed assets recorded at 1,350,000.00 RMB[152]. - The total cash inflow from operating activities was 38,681,658.77 RMB, compared to 37,943,688.73 RMB in 2019, indicating a year-over-year increase of approximately 1.9%[152]. Liabilities and Equity - The total liabilities decreased to CNY 509,834,418.24 from CNY 540,845,616.32, indicating a reduction of about 5.7%[136]. - The company's equity attributable to shareholders rose to CNY 497,911,023.86 from CNY 476,102,122.42, reflecting an increase of approximately 4.5%[136]. - The total current liabilities decreased to CNY 82,534,418.24 from CNY 117,985,616.32, a reduction of about 30%[136]. - The total equity attributable to the parent company at the end of 2020 was 476,102,122.42 RMB, showing stability in the company's financial position[155]. - The retained earnings showed a deficit of CNY 93,207,463.43, which is a significant concern for future profitability[170]. Operational Challenges - The company faced significant pressure on cash flow due to declining electricity volume and prices, as well as delayed subsidy payments[35]. - The company acknowledges the ongoing challenges posed by regional electricity restrictions, particularly in Gansu Province, which may affect future growth[64]. - The company has significant assets pledged for loans, including fixed assets valued at 379,965,987.73 yuan and accounts receivable at 219,427,978.06 yuan[49]. - The company has a substantial financial risk due to overdue subsidy payments amounting to CNY 219 million, which constitutes two-thirds of its electricity settlement income[65]. Strategic Initiatives - The company plans to strengthen communication with banks to maintain necessary loan scales for cash flow management[35]. - The company aims to enhance cooperation with grid authorities and major electricity consumers to secure contract electricity shares that match the scale of its power stations[35]. - The company is exploring the integration of energy storage solutions to enhance the flexibility of power sources and improve the utilization rate of renewable energy[61]. - The company aims to enhance its power station operation and maintenance system to ensure asset safety and stability in operations[63]. Corporate Governance - The company has maintained a good integrity status, with no unfulfilled court judgments or significant overdue debts[75]. - The company has not disclosed any major risks identified by the supervisory board[120]. - The financial statements were audited in accordance with Chinese CPA auditing standards, ensuring compliance and reliability[124]. - The company has not reported any new product launches or technological advancements during this period[167]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,191, an increase from 22,983 at the end of the previous month[87]. - Guangzhou Jiaye Investment Group Co., Ltd. held 103,370,000 shares, accounting for 29.62% of total shares, with all shares pledged[89]. - The company has no significant changes in the total number of ordinary shares and share capital structure during the reporting period[85]. - The company has no significant changes in the internal employee stock situation during the reporting period[87].

Financial Performance - Net profit attributable to shareholders of the listed company was CNY 16,786,276.77, an increase of 4.05% year-on-year[6]. - Basic earnings per share for the period were CNY 0.048, up by 4.11% compared to the previous year[6]. - Operating revenue for the first nine months was CNY 79,596,828.61, a slight decrease of 0.28% compared to the same period last year[6]. - Total revenue for Q3 2020 was CNY 23,796,741.79, a decrease of 15.3% compared to CNY 28,233,397.97 in Q3 2019[21]. - Net profit for Q3 2020 was CNY 5,727,601.91, compared to CNY 5,155,029.43 in Q3 2019, indicating an increase of 11.1%[22]. - The company reported a net loss of ¥50,659,592.86, an improvement from a loss of ¥67,445,869.63 in the previous year[16]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,017,557,672.84, a decrease of 0.02% compared to the end of the previous year[6]. - The total liabilities decreased to ¥523,863,849.17 from ¥540,845,616.32, indicating a reduction in financial obligations[16]. - The total assets as of September 30, 2020, were ¥1,017,557,672.84, slightly down from ¥1,017,714,509.24 at the end of 2019[15]. - Total liabilities as of September 30, 2020, were CNY 101,876,106.38, compared to CNY 97,419,816.14 at the end of 2019, representing an increase of 4.8%[19]. Cash Flow - Net cash flow from operating activities for the period was CNY 49,052,996.30, representing a significant increase of 68.92% year-on-year[6]. - The net cash flow from operating activities for Q3 2020 was ¥49,052,996.30, an increase from ¥29,039,459.97 in Q3 2019, representing a growth of approximately 69%[30]. - The company reported a total cash inflow from operating activities of ¥66,591,358.44 for the first three quarters of 2020, compared to ¥47,270,702.35 in the same period of 2019, representing an increase of about 40.9% year-over-year[29]. - The net cash flow from financing activities was -¥43,051,633.56, a decline from -¥36,898,168.66 in Q3 2019, reflecting a worsening of approximately 16%[31]. Shareholder Information - Net assets attributable to shareholders of the listed company increased by 3.53% to CNY 492,888,399.19[6]. - The total number of shareholders at the end of the reporting period was 23,281[9]. - The largest shareholder, Guangzhou Jiaye Investment Group Co., Ltd., held 29.62% of the shares, with all shares pledged[9]. Government Support and Subsidies - The company received government subsidies amounting to CNY 9,811.00 during the reporting period, primarily for employment stabilization[8]. Operational Efficiency - The weighted average return on net assets decreased by 0.06 percentage points to 3.46%[6]. - The company's management expenses for Q3 2020 were ¥534,348.18, down from ¥810,160.28 in Q3 2019, indicating a reduction of approximately 34.0% year-over-year[27]. - The company reported a decrease in management expenses to CNY 1,892,859.26 in Q3 2020 from CNY 2,396,019.94 in Q3 2019, a reduction of 21.1%[21]. Future Outlook - The company plans to continue focusing on market expansion and new product development to drive future growth[28].