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].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥55,800,086.82, representing an increase of 8.16% compared to ¥51,590,825.89 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2020 was ¥11,057,078.31, showing a slight increase of 0.18% from ¥11,037,462.48 in the previous year[20]. - The net cash flow from operating activities improved significantly to ¥12,849,070.04, compared to a negative cash flow of -¥2,711,100.14 in the same period last year[20]. - The company reported a decrease of 6.55% in net profit after deducting non-recurring gains and losses, amounting to ¥10,311,778.39 compared to ¥11,034,605.83 in the previous year[20]. - The consolidated financial statements reported a main business income of 55.8 million yuan, up 8.16% year-on-year, with a net profit attributable to shareholders of 11.06 million yuan, a slight increase of 0.18%[30]. - The total comprehensive income for the first half of 2020 was CNY 4,755,248.95, compared to CNY 10,047,579.13 in the same period of 2019[78]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,013,554,426.73, a decrease of 0.41% from ¥1,017,714,509.24 at the end of the previous year[20]. - The net assets attributable to shareholders increased by 2.32% to ¥487,159,200.73 from ¥476,102,122.42 at the end of the previous year[20]. - The company's total assets as of June 30, 2020, amounted to CNY 559,432,804.97, up from CNY 554,993,793.81 at the end of 2019[71]. - Total liabilities as of June 30, 2020, were CNY 97,103,578.35, a slight decrease from CNY 97,419,816.14 at the end of 2019[71]. - The total current liabilities decreased to CNY 102,728,204.97 from CNY 117,985,616.32, a reduction of approximately 12.9%[67]. Cash Flow - The company's cash and cash equivalents decreased by 59.70% year-on-year, primarily due to the repayment of due loans[35]. - The company's cash balance as of June 30, 2020, was CNY 14,543,411.32, down from CNY 36,087,804.56 at the end of 2019[66]. - The company reported a net cash outflow from financing activities of CNY -34,135,131.72 in the first half of 2020, compared to CNY -24,223,845.32 in the same period of 2019[80]. - The company experienced a net decrease in cash and cash equivalents of CNY 299,664.27 during the first half of 2020, compared to a much larger decrease of CNY 11,368,793.75 in the same period of 2019[83]. Shareholder Information - The total number of common stock shareholders at the end of the reporting period is 23,634[55]. - The largest shareholder, Guangzhou Jiaye Investment Group Co., Ltd., holds 103,370,000 shares, representing 29.62% of total shares[57]. - The second-largest shareholder, Guangzhou Noping Investment Co., Ltd., holds 41,080,000 shares, representing 11.77% of total shares[57]. - The total number of restricted shares held by the top ten shareholders is 159,000,000 shares, all classified as non-circulating shares[59]. Operational Highlights - The company's photovoltaic power station achieved a grid-connected electricity settlement of 78.35 million kWh, an increase of 6.4 million kWh, representing a year-on-year growth of 8.9%[30]. - The settlement electricity revenue reached 55.8 million yuan, an increase of 4.21 million yuan, reflecting a year-on-year growth of 8.16%[30]. - The utilization rate of photovoltaic power generation reached 97.9%, showing a year-on-year increase of 0.3 percentage points[27]. - The company faces significant operational risks in photovoltaic power generation, including maintenance risks that directly impact output and lifespan[40]. Accounting Policies - The company adheres to the accounting standards for enterprises, ensuring that the financial statements reflect the true financial condition and operating results[100]. - The company recognizes financial assets transfer based on whether the risks and rewards of ownership have been transferred, terminating recognition if they have been transferred almost entirely[122]. - The company applies the straight-line method for lease expense allocation over the entire lease term, including initial direct costs as current expenses[193]. - The company is implementing the new revenue recognition standard effective from January 1, 2020, which unifies revenue recognition models[197]. Legal and Compliance - The company has no major litigation or arbitration matters during the reporting period, indicating a stable legal standing[45]. - There were no significant non-operating fund occupations by controlling shareholders or related parties during the reporting period[8]. - The company has not reported any new capital contributions or reductions during the current period[92].

Financial Performance - Operating revenue for the period was CNY 23,763,129.34, down 9.64% year-on-year[7] - Net profit attributable to shareholders decreased by 71.04% to CNY 2,157,154.99[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses fell by 81.00% to CNY 1,415,305.82[7] - Basic and diluted earnings per share were both CNY 0.006, a decrease of 71.43%[7] - Net profit attributable to the parent company decreased by 71.04% to ¥2,157,154.99 from ¥7,448,464.95, primarily due to a decline in electricity revenue and reduced investment income[13] - Total operating revenue for Q1 2020 was ¥23,763,129.34, a decrease of 9.7% compared to ¥26,297,040.35 in Q1 2019[22] - Net profit for Q1 2020 was ¥2,156,252.67, a decline of 71.0% from ¥7,447,415.14 in Q1 2019[23] - The net profit for Q1 2020 was CNY 3,080,289.65, a decrease from CNY 5,425,808.84 in Q1 2019, representing a decline of approximately 43.4%[25] - The total comprehensive income for Q1 2020 was CNY 3,080,289.65, down from CNY 5,425,808.84 in the same period last year, indicating a decrease of about 43.4%[25] - The basic and diluted earnings per share for Q1 2020 were both CNY 0.009, compared to CNY 0.016 in Q1 2019, reflecting a decline of 43.75%[25] Cash Flow - The net cash flow from operating activities was CNY 9,277,117.52, compared to a negative CNY 1,552,509.79 in the same period last year[7] - Net cash flow from operating activities improved to ¥9,277,117.52 from a negative ¥1,552,509.79, attributed to receiving government subsidies[13] - Cash inflows from operating activities in Q1 2020 totaled CNY 14,279,399.42, significantly higher than CNY 4,178,557.80 in Q1 2019, marking an increase of approximately 241.5%[28] - The net cash flow from operating activities for Q1 2020 was CNY 9,277,117.52, a turnaround from a net outflow of CNY 1,552,509.79 in Q1 2019[28] - Cash outflows from investing activities in Q1 2020 amounted to CNY 14,299,562.91, compared to CNY 277,314.00 in Q1 2019, indicating a significant increase in investment activity[28] - The net cash flow from investing activities for Q1 2020 was -CNY 207,763.94, compared to -CNY 277,314.00 in Q1 2019, showing a reduced outflow[28] - Cash outflows from financing activities in Q1 2020 were CNY 26,085,302.38, up from CNY 17,067,345.12 in Q1 2019, representing an increase of approximately 53.1%[29] - The company reported a net decrease in cash and cash equivalents of CNY 17,015,948.26 for Q1 2020, which is an improvement compared to a decrease of CNY 18,897,168.28 in Q1 2019[29] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,002,619,189.75, a decrease of 1.48% compared to the previous year[7] - Current liabilities decreased to ¥100,734,044.16 from ¥117,985,616.32, mainly due to repayment of part of the due loans[17] - Non-current liabilities remained stable at ¥422,860,000.00, unchanged from the previous period[17] - The company's total equity increased slightly to ¥479,025,145.59 from ¥476,868,892.92, indicating a stable equity position[17] - Total assets decreased to ¥1,002,619,189.75 from ¥1,017,714,509.24, reflecting a reduction in both current and non-current assets[16] - Accounts receivable increased to ¥188,313,391.99 from ¥177,979,680.07, showing a growth of approximately 5.5%[15] - Other current assets decreased by 31.15% to ¥6,582,998.04 from ¥9,561,682.80, primarily due to gradual offsetting of input VAT[13] Shareholder Information - The total number of shareholders at the end of the reporting period was 23,724[11] - The largest shareholder, Guangzhou Jiaye, held 29.62% of the shares, totaling 103,370,000 shares, which are pledged[11] Future Outlook - The company has not indicated any significant changes in future profit forecasts or major strategic shifts[14]

Financial Performance - The net profit attributable to shareholders for 2019 was CNY 25.30 million, a decrease of 8.68% compared to 2018[5]. - The total operating revenue for 2019 was CNY 105.02 million, reflecting a slight decline of 1.03% from the previous year[19]. - The basic earnings per share for 2019 was CNY 0.0725, down 8.69% from CNY 0.0794 in 2018[20]. - The weighted average return on equity for 2019 was 5.46%, a decrease of 0.88 percentage points from 2018[20]. - The company reported a net loss of ¥67,445,869.63 in 2019, an improvement compared to a loss of ¥92,742,861.49 in 2018[145]. - The total comprehensive income for the current period was CNY 25,296,991.86, reflecting a significant increase in earnings[170]. - The total profit for 2019 was 26,608,054.77 RMB, down from 27,802,609.00 RMB in 2018, reflecting a decrease of approximately 4.29%[152]. Assets and Liabilities - The company's total assets at the end of 2019 amounted to CNY 1.02 billion, an increase of 1.06% compared to the end of 2018[19]. - The net assets attributable to shareholders at the end of 2019 were CNY 476.10 million, an increase of 5.61% from the end of 2018[19]. - Total assets increased to ¥1,017,714,509.24 in 2019 from ¥1,007,001,828.62 in 2018, representing a growth of approximately 1.7%[144]. - Total liabilities decreased to ¥540,845,616.32 in 2019 from ¥555,474,019.94 in 2018, a reduction of about 2.6%[145]. - Current liabilities totaled ¥117,985,616.32 in 2019, up from ¥96,614,019.94 in 2018, marking an increase of about 22.1%[144]. - Accounts receivable stood at 187,372,789.18 RMB, which is pledged for loans from financial institutions[49]. Cash Flow - The net cash flow from operating activities for 2019 was CNY 44.67 million, an increase of 11.78% compared to 2018[19]. - Cash inflow from investment activities surged to CNY 104,038,023.20 in 2019, a significant increase from CNY 13,152,794.52 in 2018, marking a growth of 691.5%[159]. - Cash outflow for investment activities rose to CNY 104,874,003.93 in 2019, compared to CNY 4,877,773.07 in 2018, reflecting an increase of 2,048.5%[159]. - The ending cash and cash equivalents balance for 2019 was CNY 35,570,604.56, up from CNY 34,616,703.75 in 2018, indicating a growth of 2.8%[159]. Market and Industry Context - The company's main business is photovoltaic power generation, with electricity revenue as the primary income source[28]. - In 2019, the national photovoltaic power generation capacity reached 224.3 billion kWh, a year-on-year increase of 26.3%[29]. - The cumulative installed photovoltaic capacity reached 204.3 million kW, a year-on-year increase of 17.3%[28]. - The company is positioned to benefit from the government's push for renewable energy development and the expected decline in photovoltaic costs[30]. - By 2050, over 75% of power generation is expected to come from clean energy, with photovoltaic power accounting for about 40%[30]. Governance and Compliance - The company has established a governance structure that ensures equal rights for all shareholders, particularly minority shareholders, and complies with relevant laws and regulations[123]. - The board of directors consists of 9 members, including 3 independent directors, fulfilling the requirements of laws and regulations[124]. - The company has maintained independence from its controlling shareholder in business, personnel, assets, and financial matters[128]. - The audit report confirms that the financial statements fairly reflect the company's financial position and operating results for the year[132]. Employee and Management Information - The total remuneration for all directors, supervisors, and senior management in 2019 was 1.714 million yuan[114]. - The company had a total of 78 employees, with 9 in the parent company and 69 in major subsidiaries[117]. - The company has established a multi-tiered training system to support employee growth and meet business development needs[119]. Risks and Challenges - The company has outlined potential risks in its annual report, advising investors to pay attention to these risks[7]. - The company faces risks related to photovoltaic operation and maintenance, including operational risks and regional abandonment limits[67]. - The company faced significant financial pressure due to a large amount of receivables from new energy subsidies, totaling approximately 190 million yuan as of the end of 2019[34].