Financial Performance - The company reported a total revenue of 1.2 billion RMB for the year 2020, representing a year-on-year increase of 15%[16]. - The net profit attributable to shareholders was 150 million RMB, an increase of 10% compared to the previous year[16]. - The company's operating revenue for 2020 was ¥21,867,491,787.91, representing a 17.65% increase from ¥18,587,094,375.10 in 2019[23]. - The net profit attributable to shareholders for 2020 was ¥653,576,703.34, a decrease of 8.33% compared to ¥713,000,340.99 in 2019[23]. - The net cash flow from operating activities increased by 25.26% to ¥3,006,570,196.78 in 2020 from ¥2,400,196,525.85 in 2019[23]. - The company reported a basic earnings per share of ¥0.26 for 2020, down 13.33% from ¥0.30 in 2019[23]. - The company achieved a net profit of 1.2 billion RMB for the fiscal year 2020, representing a year-on-year increase of 15%[176]. - The company reported a net profit attributable to shareholders of RMB 653,576,703.34 for the fiscal year 2020[161]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2023[16]. - The company aims to become a comprehensive urban environmental service operator, focusing on waste management and resource integration with Urbaser[35]. - The company is actively pursuing new projects in Spain, France, Argentina, India, and Ecuador, enhancing its international presence[62]. - The urban environmental services segment expanded its operations across 19 provinces and municipalities, with a total contract amount of approximately RMB 10 billion[59]. - The company plans to expand its market presence in Southeast Asia, aiming for a 10% market share by 2025[176]. - A strategic acquisition of a local competitor is anticipated to enhance operational efficiency and increase market penetration[176]. Research and Development - The company has allocated 100 million RMB for research and development in new technologies for environmental protection[16]. - Research and development investment is set to increase by 30%, focusing on innovative waste management solutions[176]. - The company has 537 domestic patents, including 44 invention patents, and 32 overseas patents, indicating a strong focus on R&D and innovation[63]. - The company’s R&D team has made breakthroughs in plasma treatment technology and high-value resource reuse technology, expanding its business layout[52]. Acquisitions and Investments - Strategic acquisitions are planned to enhance service capabilities, with a budget of 300 million RMB earmarked for potential targets[16]. - The company completed several acquisitions, including Urbaser Soacha SA ESP for approximately ¥85.89 million, acquiring a 60% stake[80]. - The company acquired 100% of Yangzhou Yangying Plasma Technology Co., Ltd. for a total cost of CNY 19,490,000 on September 30, 2020, with revenue of CNY 3,537,879.09 and net profit of CNY 392,911.83 from the acquisition date to year-end[194]. - The company acquired 60% of Urbaser Soacha SA ESP for CNY 85,890,403.03 on April 1, 2020, generating revenue of CNY 76,221,793.23 and net profit of CNY 9,095,121.68 during the same period[194]. Risk Management - The company emphasizes risk management strategies in its future outlook, addressing potential market challenges[5]. - The company faces risks from macroeconomic fluctuations, which could impact its financial performance despite the stable demand for environmental services[140]. - Changes in national policies and regulations could significantly affect the company's operations and profitability, necessitating close monitoring of industry policies[141]. - The company recognizes the risk of intensified competition in the environmental sector and aims to maintain its leading position through technological innovation and improved project management[142]. Operational Efficiency - Future guidance indicates a projected revenue growth of 18% for 2021, with a focus on enhancing operational efficiency[16]. - The company has developed a comprehensive waste management service, including smart waste classification solutions across various urban scenarios, leveraging an "online + onsite" service model[36]. - The company’s automated sorting lines for recyclable resources have significantly improved sorting efficiency, enhancing the recovery and disposal of various waste materials[42]. Shareholder and Dividend Policy - The company will not distribute cash dividends or issue bonus shares for the fiscal year 2020[6]. - The company plans not to distribute any cash dividends for the fiscal year 2020, maintaining a cash dividend payout ratio of 0.00%[162]. - The company aims to actively reward shareholders starting from 2021, despite not distributing dividends in 2020[163]. - The company’s profit distribution plan is subject to approval at the annual shareholders' meeting[161]. Compliance and Governance - The company has committed to maintaining its control over the board and voting rights for the next five years[176]. - The company guarantees the protection of the legal rights of minority shareholders and will not exploit its special position for abnormal extra benefits[180]. - The company has pledged to strictly adhere to the commitments made regarding non-competition and related transactions during its shareholding period[180]. - The company will ensure that any necessary related transactions will follow market principles and fair pricing, complying with legal and regulatory requirements[180]. Environmental Impact and Sustainability - The company aims to contribute to China's carbon peak and carbon neutrality goals by leveraging its dual market advantages for sustainable development in the urban environmental service sector[63]. - The company has established a world-class waste-to-energy processing chain, focusing on high standards and low emissions in its waste incineration power generation projects, utilizing BOT and BOO financing models[39]. - The company has implemented advanced plasma technology for hazardous waste disposal, achieving near-zero emissions and meeting the strictest global discharge standards[40].

Financial Performance - Operating revenue for the period was ¥5,529,014,620.82, representing a year-on-year increase of 10.06%[10] - Net profit attributable to shareholders was ¥200,591,282.45, reflecting a 12.08% increase compared to the same period last year[10] - Basic earnings per share were ¥0.0795, an increase of 8.31% compared to the previous year[10] - The company reported a significant reduction in sales expenses, which decreased to ¥4,455,103.10 from ¥7,933,179.73, a decline of 43.66%[69] - Net profit for the current period was ¥227,584,294.19, representing a 7.09% increase from ¥211,083,112.09 in the same period last year[72] - The net profit attributable to the parent company was ¥200,591,282.45, compared to ¥178,970,683.56 in the previous year, reflecting a growth of 12.03%[72] - Total operating revenue for the current period reached ¥16,227,617,936.00, an increase of 24.5% compared to ¥13,067,446,755.15 in the previous period[80] - Net profit for the current period was ¥578,469,687.94, representing a 22.1% increase from ¥473,918,802.43 in the previous period[84] Assets and Liabilities - Total assets increased by 6.78% to ¥50,504,147,520.21 compared to the end of the previous year[10] - Total liabilities increased to ¥38.20 billion from ¥35.59 billion, representing a growth of approximately 7.3% year-over-year[60] - Total current assets rose to ¥2.96 billion from ¥2.34 billion, marking an increase of about 28.2%[63] - Long-term borrowings increased to ¥16.48 billion from ¥14.65 billion, representing a growth of approximately 12.5%[60] - Total liabilities were CNY 35,593,426,971.23, with current liabilities at CNY 13,245,567,409.27[102] - Total equity increased to ¥12.30 billion from ¥11.70 billion, showing a growth of around 5.0%[60] - The company reported a total equity of CNY 11,703,484,081.04, with retained earnings of CNY 1,757,062,459.23[106] Cash Flow - The net cash flow from operating activities was ¥770,154,275.46, up by 8.53% year-on-year[10] - Cash flow from operating activities generated a net amount of CNY 2,048,584,987.36, up from CNY 1,491,215,975.22, representing a growth of about 37.4%[91] - Cash inflow from sales of goods and services reached CNY 16,435,712,233.20, compared to CNY 12,953,665,261.81 in the prior year, indicating an increase of approximately 27.3%[91] - The ending balance of cash and cash equivalents was CNY 2,746,100,027.26, compared to CNY 2,314,260,270.87 at the end of the previous period, showing an increase of approximately 18.7%[94] - The company’s cash outflow for operating activities totaled CNY 14,727,259,147.60, compared to CNY 11,978,090,067.53 in the previous period, reflecting an increase of approximately 23.2%[91] Shareholder Information - The company reported a total of 41,827 shareholders at the end of the reporting period[14] - The largest shareholder, Nantong Qianchuang Investment Co., Ltd., held 16.20% of the shares[15] Government Support and Investments - The company received government subsidies amounting to ¥79,415,375.84 during the reporting period[10] - The company has established an environmental industry investment fund with an initial scale of RMB 500 million, where it will contribute RMB 499 million[27] - The company is in the process of introducing strategic investors for Urbaser through equity transfer and capital increase, aiming to optimize its capital structure and enhance its domestic and international market presence[28] Operational Changes - The company has completed the deregistration of several wholly-owned subsidiaries to improve operational efficiency, which will not adversely affect its business development or profitability[31] - The company has not disclosed any new product developments or market expansion strategies in the conference call[47] Financial Management - The company reported no non-operating fund occupation by controlling shareholders during the reporting period, indicating financial stability[44] - There were no violations regarding external guarantees during the reporting period, reflecting prudent financial management[43]

Financial Performance - The company reported a total revenue of 1.2 billion RMB for the first half of 2020, representing a year-on-year increase of 15%[19]. - The net profit attributable to shareholders was 150 million RMB, an increase of 10% compared to the same period last year[19]. - The company's operating revenue for the reporting period was ¥10,698,603,315.18, representing a 33.01% increase compared to the same period last year[26]. - Net profit attributable to shareholders was ¥295,903,414.79, reflecting a 39.77% increase year-over-year[26]. - The net cash flow from operating activities reached ¥1,278,430,711.90, marking a 63.56% increase compared to the same period last year[26]. - Basic earnings per share were ¥0.1172, a 24.95% increase from ¥0.0938 in the previous year[26]. - The management has set a performance guidance of 1.5 billion RMB in revenue for the full year 2020, reflecting a growth target of 20%[19]. - The company achieved operating revenue of 10.7 billion yuan, a year-on-year increase of 33%[65]. - Net profit attributable to shareholders reached 296 million yuan, up 39.8% compared to the same period last year[65]. - The total amount of new operating project contracts reached 16.85 billion yuan, with annual service contract value of 4.28 billion yuan[69]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% growth in that region by the end of 2021[19]. - The company is exploring potential mergers and acquisitions to enhance its service capabilities and market share[19]. - The company is actively expanding its international business and enhancing its competitiveness in overseas markets, leveraging Urbaser's advanced technologies[57]. - The company aims to launch a new line of eco-friendly products in Q3 2023, which is expected to contribute an additional 5% to annual revenue[172]. - The company plans to continue focusing on high-quality waste treatment projects and expand into first- and second-tier cities and overseas markets to strengthen its core competitiveness[113]. Research and Development - The company has allocated 100 million RMB for research and development in new technologies for environmental protection[19]. - The company has established a strong research and development team that has made breakthroughs in various technologies, including plasma treatment and intelligent waste management systems[58]. - The company aims to enhance its research and development capabilities to solidify its position in the waste-to-energy equipment sector and plasma harmless disposal technology[113]. - The company has invested 50.15 million yuan in R&D, a decrease of 3.75% from the previous year[76]. Environmental Compliance and Sustainability - The company has established a comprehensive environmental monitoring plan for 2020, ensuring compliance with environmental laws and regulations[194]. - The company’s wastewater and gas emissions consistently meet regulatory standards, with specific measurements such as 1.90 mg/L for ammonia nitrogen and 73.41 mg/L for COD in wastewater[174][175]. - The company has successfully passed environmental protection acceptance for multiple waste incineration power projects, with all facilities operating normally from January to June 2020[183][184][185][188]. - The company has implemented emergency response plans for environmental pollution incidents across its operational projects, with no major environmental risk incidents reported in the first half of 2020[191][192]. - The company plans to expand its market presence by enhancing its waste treatment facilities, aiming for a 20% increase in processing capacity by the end of the fiscal year[172]. - The company is investing in new technologies to reduce emissions further, targeting a 15% reduction in NOx emissions over the next two years[172]. - The company has set a target to achieve zero waste to landfill by 2025, aligning with its sustainability goals and regulatory compliance[172]. Operational Efficiency - User data showed an increase in active service users by 20%, reaching 1.5 million users by June 30, 2020[19]. - The company reported a 10% increase in overall operational efficiency compared to the previous year, attributed to upgraded equipment and processes[172]. - The company has successfully integrated the operations of Urbaser, enhancing its core competitiveness and expanding its service capabilities in solid waste management across over 30 countries[53]. Risk Management - The company has identified operational risks related to regulatory changes and has implemented measures to mitigate these risks[6]. - The company faces risks from global macroeconomic fluctuations and increasing competition in the environmental protection industry[106]. - The company is currently in a rapid expansion phase, which poses a risk of insufficient investment funds affecting business growth[109]. - A specialized global foreign exchange risk management team has been established to mitigate risks associated with currency fluctuations[114]. - The company is committed to developing effective strategies to control and mitigate various risks, including those arising from the COVID-19 pandemic[114]. Legal and Compliance - The company has no major litigation or arbitration matters during the reporting period, indicating a stable legal environment[127]. - The company has not faced any penalties or corrective actions during the reporting period, indicating compliance with regulations[132]. - The company has not undergone any bankruptcy restructuring during the reporting period, reflecting financial stability[126]. - The company has not reported any significant changes in the measurement attributes of its main assets during the reporting period[91]. Related Party Transactions - The company engaged in related party transactions, including property management fees of 74.88 million yuan and house leasing of 39.72 million yuan, both at market fair prices[134]. - The company has no significant related party transactions involving asset or equity acquisitions or sales during the reporting period[139]. - The company has a related party debt to Nantong Qianchuang Investment Co., Ltd. amounting to 11.54 million yuan, with no new additions or repayments during the period[143]. Environmental Monitoring - The company conducts quarterly monitoring of flue gas emissions including CO, HCl, SO2, and nitrogen oxides, with a total of 60 samples collected across 5 monitoring points[195]. - Monthly monitoring of heavy metals in flue gas is performed, with 180 samples collected from 5 monitoring points[195]. - Quarterly monitoring of wastewater parameters such as pH, SS, COD, and total nitrogen is conducted, totaling 4 samples from a single monitoring point[195]. - The company has established a comprehensive monitoring strategy for various environmental parameters, ensuring compliance with regulatory standards[195].

Financial Performance - The company's operating revenue for Q1 2020 was ¥5,045,853,291.28, representing a 54.82% increase compared to ¥3,259,200,890.95 in the same period last year[9] - Net profit attributable to shareholders for Q1 2020 was ¥108,148,955.15, up 35.28% from ¥79,942,436.78 in the previous year[9] - Basic and diluted earnings per share for Q1 2020 were both ¥0.0429, an increase of 11.43% from ¥0.0385[9] - Total operating revenue for the first quarter reached ¥5,045,853,291.28, an increase from ¥3,259,200,890.95 in the previous period[63] - Net profit for the period was ¥127,687,518.06, up from ¥100,404,529.78 year-over-year[67] - Operating revenue for the current period reached ¥66,315,367.38, an increase from ¥63,588,752.73 in the previous period, reflecting a growth of approximately 4%[74] - Net profit for the current period was a loss of ¥10,738,790.32, compared to a loss of ¥10,144,867.54 in the previous period, indicating a slight increase in losses[76] - Total comprehensive income for the current period was a loss of ¥10,738,790.32, compared to a loss of ¥10,144,867.54 in the previous period[76] Cash Flow - The net cash flow from operating activities reached ¥424,278,330.78, marking a significant increase of 100.61% compared to ¥211,497,217.92 in the same period last year[9] - The company's cash and cash equivalents decreased to CNY 3,537,342,558.62 from CNY 3,794,571,042.42, representing a decline of about 6.77%[46] - The company reported a significant increase in cash received from operating activities, totaling ¥5,452,278,553.94, compared to ¥3,272,007,279.21 in the previous period, an increase of approximately 67%[80] - The net cash flow from operating activities was 155,721,683.01, an increase from 47,137,084.14 in the previous period[88] - Cash inflow from investment activities totaled 117,127,139.55, compared to 30,889,303.03 in the previous period[84] - The net cash flow from investment activities was -887,469,508.23, improving from -964,683,937.22 in the previous period[84] - Cash inflow from financing activities amounted to 1,648,014,883.10, up from 1,482,301,818.51 in the previous period[84] - The net cash flow from financing activities was 228,126,115.82, compared to 62,224,735.01 in the previous period[84] - The total cash and cash equivalents at the end of the period were 2,513,176,386.95, down from 2,721,933,158.71 in the previous period[84] - The company reported a net increase in cash and cash equivalents of -252,178,676.01, compared to -648,880,496.49 in the previous period[84] Assets and Liabilities - Total assets at the end of the reporting period were ¥47,557,442,172.25, a slight increase of 0.55% from ¥47,296,911,052.27 at the end of the previous year[9] - The company's total assets increased to ¥14,437,169,908.37 from ¥14,215,203,362.09 at the end of the previous year[62] - Total current liabilities rose to CNY 13,316,862,230.94 from CNY 13,245,567,409.27, indicating an increase of about 0.54%[53] - Long-term borrowings increased to CNY 15,130,306,961.57 from CNY 14,653,013,845.22, reflecting a growth of approximately 3.25%[53] - The company's total equity decreased to CNY 11,616,454,363.21 from CNY 11,703,484,081.04, a decline of about 0.75%[53] - Total liabilities reached ¥35,593,426,971.23, with current liabilities at ¥13,245,567,409.27[98] - Shareholders' equity totaled ¥11,703,484,081.04, with total equity attributable to the parent company at ¥10,802,878,518.17[98] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 42,828[14] - The largest shareholder, Nantong Qianchuang Investment Co., Ltd., held 16.20% of the shares[14] - The company did not engage in any repurchase agreements during the reporting period[18] Government and Regulatory Matters - The company received government subsidies amounting to ¥21,740,544.48 during the reporting period[9] - The company plans to issue convertible bonds with a total scale not exceeding RMB 600 million, pending approval from the China Securities Regulatory Commission[27] - The company has not provided specific information regarding new product developments or market expansion strategies in the current report[43] Project and Operational Developments - The company has won multiple projects, including waste collection and street cleaning in Chennai, India, and solid waste treatment in Extremadura, Spain, enhancing its competitive advantage in the overseas environmental protection industry[29] - The company has completed the signing of several project contracts, including the BOT project for waste incineration in Xiangcheng City and the waste collection contract in Guayaquil, Ecuador[29] - The company has adjusted its organizational structure to optimize resource allocation and enhance operational efficiency in response to international development needs[28] Other Financial Metrics - The company incurred a tax and additional charges of ¥1,228,038.42, up from ¥464,478.32, indicating a rise of about 164%[74] - Financial expenses rose to ¥7,190,998.40 from ¥5,953,602.84, marking an increase of about 21%[74] - Research and development expenses were ¥14,144,385.34, slightly down from ¥14,266,031.24[67] - Research and development expenses increased significantly to ¥1,577,247.51 from ¥636,525.87, representing a growth of approximately 148%[74]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2019, representing a year-on-year increase of 15%[19] - The net profit attributable to shareholders was RMB 150 million, an increase of 10% compared to the previous year[19] - The company's operating revenue for 2019 was ¥18,587,094,375.10, representing a 906.40% increase compared to ¥1,846,883,070.12 in 2018[27] - The net profit attributable to shareholders for 2019 was ¥713,000,340.99, a 229.34% increase from ¥216,492,499.96 in 2018[27] - The net cash flow from operating activities reached ¥2,400,196,525.85, marking a significant increase of 1,044.11% compared to ¥209,786,562.05 in 2018[27] - The total assets at the end of 2019 amounted to ¥47,296,911,052.27, a 436.92% increase from ¥8,808,911,186.25 at the end of 2018[30] - The net assets attributable to shareholders at the end of 2019 were ¥10,802,878,518.17, reflecting a 233.50% increase from ¥3,239,249,595.26 at the end of 2018[30] - The basic earnings per share for 2019 were ¥0.3018, an increase of 88.39% from ¥0.1602 in 2018[27] - The company reported a total of ¥83,850,463.87 in non-recurring gains and losses for 2019, compared to ¥15,576,581.91 in 2018[36] - The company reported a total revenue of approximately CNY 16.22 billion from the acquired entity from the acquisition date to the end of the reporting period[110] Market Expansion and Strategy - The company plans to expand its market presence by entering three new provinces in 2020, aiming for a 20% growth in market share[19] - Future guidance indicates expected revenue growth of 12% to 15% for 2020, with a target revenue of RMB 1.35 billion[19] - A strategic partnership with Urbaser is expected to enhance operational efficiency and expand service offerings in the waste management sector[19] - The company aims to develop into a "5A" level comprehensive urban environmental service operator, focusing on smart waste management and resource recycling[42] - The company is actively expanding its international market presence, supported by national industrial policies and government guidance[57] - The company aims to focus on urban sanitation services as a key area for future development, capitalizing on the rapid growth of the domestic sanitation market[173] - The company is expanding its solid waste treatment business, focusing on kitchen waste and hazardous waste processing, while leveraging Urbaser's integrated urban waste management capabilities[174] - The company is increasing its scale in environmental equipment manufacturing and plans to expand overseas markets by utilizing Urbaser's platform[177] Research and Development - The company has invested RMB 200 million in R&D for new technologies, focusing on waste-to-energy solutions[19] - The company has developed advanced waste treatment technologies, including plasma melting and enhanced incineration, with proprietary intellectual property rights[53] - The company’s automated sorting lines are equipped with advanced optical separation devices, improving waste sorting efficiency[53] - The number of R&D personnel increased by 48.99% from 149 in 2018 to 222 in 2019, while the R&D investment amount rose by 47.50% to approximately ¥71.24 million[130] - The company is focusing on the development of plasma melting technology and has completed the construction and trial operation of a plasma fly ash resource demonstration project[126] Acquisitions and Partnerships - The company completed the acquisition of Urbaser, a leading global environmental company, transitioning to a full-chain waste management operation[42] - The company completed a significant asset restructuring, acquiring 100% equity of Jiangsu Dezhan, which includes fixed assets and intangible assets[58] - The company completed the acquisition of 100% equity in Jiangsu Dezhan, indirectly acquiring 100% equity in Urbaser, a global leader in urban environmental services, enhancing its core competitiveness and expanding its business to over 30 countries and regions[64] - The acquisition of Urbaser has allowed the company to complement its domestic and international operations, enhancing its overall value in the solid waste management sector[68] Operational Efficiency and Technology - The company has established a world-class waste incineration power generation chain, focusing on high standards and low emissions in its operations[50] - The company operates resource recycling bases that enhance urban waste management and promote eco-friendly urban development[49] - The company’s Urbaser subsidiary leads in industrial recycling services, particularly in waste oil regeneration and fuel recovery[54] - The company’s comprehensive water management services are primarily conducted in Spain and Argentina, utilizing government-conferred operating models[54] - The company’s smart management cloud platform enhances operational efficiency and transparency across its cleaning services[48] Risks and Challenges - The management highlighted potential risks including regulatory changes and market competition, with strategies in place to mitigate these risks[6] - The company faces global macroeconomic fluctuations that could impact its financial performance, although it has a stable customer base in municipal institutions[183] - The company is exposed to industry competition risks as the environmental sector attracts numerous new entrants and requires continuous technological advancements[184] - The company is at risk of funding shortages during its rapid expansion phase, which could hinder its ability to grow its business[186] - The company is subject to foreign exchange risks, particularly with Urbaser's operations in multiple currencies, with the euro accounting for approximately 70% of total revenue[189] Customer and Supplier Information - The top five customers accounted for 12.22% of the total annual sales, with the largest customer contributing approximately CNY 738.82 million[118] - The top five suppliers accounted for 10.43% of the total annual purchases, with the largest supplier accounting for approximately CNY 496.80 million[120] Financial Management - The company has secured a syndicated loan agreement with Deutsche Bank for a total amount not exceeding €350 million, with a current outstanding balance of €35 million as of the reporting period end[146] - The company has made a significant equity investment of CNY 8,881,983,508.38 in Jiangsu Dezhan Investment Co., holding a 100% stake[149] - The company has ongoing projects in waste incineration power generation, with significant investments in various BOT projects across different regions[150] - The total amount of unused raised funds as of the reporting period was CNY 85.4 million, with plans to continue using them as intended[156]

证券代码：000035 证券简称：中国天楹 公告编号：TY2020-25 中国天楹股份有限公司 关于提醒投资者防范不法分子假冒本公司名义 从事诈骗活动的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导性 陈述或者重大遗漏。 近期，中国天楹股份有限公司（以下简称"本公司"或"公司"）接到投资 者反映，有不法分子假冒公司名义，利用网络投资平台，向投资者进行虚假宣传， 实施诈骗，骗取投资者的资金或个人信息。为此，本公司郑重提醒广大投资者： 一、本公司法定名称：中国天楹股份有限公司；外文名称：China Tianying Inc.；公司官方网站：www.ctyi.com.cn；电子邮箱：tyhb@ctyi.com.cn；投资 者接待专线：(86) 0513-80688810；传真：(86) 0513-80688820。 二、本公司指定的信息披露媒体为《中国证券报》、《证券时报》以及巨潮资 讯网（www.cninfo.com.cn ），公司的相关信息请以公司在指定媒体上披露的公 告文件为准，切勿轻信任何其他非正规渠道信息，敬请广大投资者提高警惕，仔 细辨别。 三、本公司强烈谴责任何假冒本公 ...

Financial Performance - Operating revenue for the reporting period was ¥5,023,713,390.29, representing a year-on-year increase of 896.54%[10] - Net profit attributable to shareholders was ¥178,970,683.56, up 125.43% from the same period last year[10] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥215,192,216.09, an increase of 176.88% year-on-year[10] - Basic earnings per share for the reporting period was ¥0.0734, reflecting a growth of 25.04% compared to the previous year[10] - Total operating revenue from the beginning of the year to the end of the period was 13.1 billion RMB, an increase of 11.7 billion RMB, reflecting a growth of 856%[22] - Net profit attributable to the parent company was 390 million RMB, an increase of 220 million RMB, marking a growth of 134%[22] - Total revenue for the third quarter reached ¥5,023,713,390.29, a significant increase from ¥504,117,169.46 in the same period last year, representing a growth of approximately 895%[68] - Net profit for the quarter was ¥211,083,112.09, up from ¥80,429,588.60 in the prior year, reflecting an increase of approximately 162%[68] - The total profit for the current period was ¥730,421,848.54, compared to ¥230,743,406.83 in the previous period, representing an increase of about 216.5%[82] - The net profit attributable to the parent company's shareholders was ¥390,673,767.22, compared to ¥166,646,585.10 in the previous period, marking an increase of around 134.8%[85] Assets and Liabilities - Total assets at the end of the reporting period reached ¥42,302,842,595.55, an increase of 380.23% compared to the previous year[10] - Total liabilities at the end of the period amounted to 31.5 billion RMB, up by 26 billion RMB, with an increase of 471%[22] - The total assets of the company amounted to CNY 42,302,842,595.55, a substantial rise from CNY 8,808,911,186.25, representing an increase of approximately 379.5%[57] - The total liabilities of the company as of September 30, 2019, were CNY 31,510,234,743.61, compared to CNY 5,514,397,311.77 at the end of 2018, reflecting an increase of around 471.5%[57] - The company's long-term borrowings surged to CNY 14,443,040,063.78 from CNY 654,883,100.00, indicating a growth of about 2105.5%[57] Cash Flow - The company reported a net cash flow from operating activities of ¥1,491,215,975.22, which is an increase of 376.98% year-on-year[10] - Cash inflow from operating activities totaled approximately ¥13.47 billion, significantly up from ¥1.62 billion in the previous period, representing an increase of over 730%[95] - The net cash flow from operating activities was approximately ¥1.49 billion, compared to a negative cash flow of -¥219,831,597.74 in the prior period[101] - Cash inflow from financing activities was approximately ¥8.30 billion, a significant increase from ¥663.95 million in the previous period, indicating a growth of over 1140%[96] - The company received approximately ¥6.08 billion in cash from borrowings, compared to ¥285.01 million in the previous period, showing a substantial increase[96] Market Expansion and Operations - The significant increases in assets, liabilities, revenue, net profit, and cash flow were primarily due to a major asset restructuring and the merger of overseas target assets[22] - The company signed multiple contracts for waste classification and environmental services projects, enhancing its market presence[26][27][28][29] - The company completed the cancellation of several wholly-owned subsidiaries to improve resource integration and operational efficiency[32] - The company received multiple winning bids for waste management projects both domestically and internationally, indicating strong market expansion efforts[28][29] - The company has successfully completed the asset acquisition and fundraising process related to the purchase of Jiangsu Dezhan Investment Co., Ltd.[33] Research and Development - The company reported research and development expenses of ¥16,325,807.34, up from ¥6,440,219.72, indicating a growth of about 153%[68] - Research and development expenses for the current period amounted to ¥59,729,445.31, indicating ongoing investment in innovation[82] Shareholder Information - The top shareholder, Nantong Qianchuang Investment Co., Ltd., holds 16.77% of the shares, with a total of 408,938,743 shares[14] - The equity attributable to the owners of the parent company increased to CNY 9,937,508,591.45 from CNY 3,239,249,595.26, showing an increase of approximately 207.5%[57] Other Financial Metrics - The weighted average return on net assets was 1.82%, a decrease of 0.67% from the previous year[10] - The company has no reported violations regarding external guarantees during the reporting period[44] - There were no non-operating fund occupations by controlling shareholders or their affiliates during the reporting period[45]

Financial Performance - The company's operating revenue for the first half of 2019 reached ¥8,043,733,364.86, representing an increase of 831.80% compared to the same period last year[26]. - The net profit attributable to shareholders of the listed company was ¥211,703,083.66, a growth of 142.62% year-on-year[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥205,795,484.55, up by 136.06% from the previous year[26]. - The net cash flow from operating activities was ¥781,621,067.62, reflecting an increase of 815.07% compared to the same period last year[26]. - Basic earnings per share were ¥0.0938, which is a 45.20% increase from ¥0.0646 in the same period last year[26]. - Total assets at the end of the reporting period amounted to ¥41,574,784,562.01, a significant increase of 371.96% from the end of the previous year[26]. - The net assets attributable to shareholders of the listed company were ¥9,750,917,334.46, representing a growth of 201.02% year-on-year[26]. - EBITDA for the reporting period reached RMB 1.65 billion, providing stable cash flow for project expansion[71]. - The company's investment income amounted to ¥45,229,169.87, accounting for 11.11% of total profit[81]. - The company reported a significant increase in investment, with total investment amounting to approximately 10.14 billion yuan, a 2030.78% increase compared to the previous year[105]. Strategic Acquisitions and Restructuring - The company completed the acquisition of Urbaser, a leading global environmental company, marking a transition to a full-chain solid waste management operation[36]. - The company completed a major asset restructuring by acquiring 100% equity of Jiangsu Dezhan, adding 1,087,214,942 shares listed on the Shenzhen Stock Exchange on February 1, 2019[53]. - The acquisition of Urbaser has enhanced the company's overall competitiveness, expanding its business scope to 31 countries and regions globally[55]. - The company completed an acquisition of 100% equity in Jiangsu Dezhan Investment Co., Ltd. for approximately 888.2 million yuan, focusing on urban environmental services and waste management[105]. - The company reported a significant asset restructuring plan that complies with relevant laws and regulations, ensuring feasibility and operability[177]. Market Expansion and Services - The company is focused on expanding its market presence through innovative waste management solutions and strategic acquisitions[36]. - The company aims to provide comprehensive waste management services across the entire industry chain, including waste classification, urban sanitation, and waste-to-energy projects[57]. - The company is actively expanding its international market presence while maintaining its leading position in the Spanish market[59]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share in the region by the end of 2024[152]. - The company is exploring potential acquisitions to enhance its service offerings, with a budget of 500 million RMB earmarked for strategic investments[186]. Technological Innovation - The company has developed a smart environmental management platform that integrates IoT, big data, and cloud computing to enhance operational efficiency and management capabilities[41]. - The company emphasizes the integration of technology in waste management to improve efficiency and reduce environmental impact[41]. - The company aims to enhance its research and development capabilities to solidify its position in the waste incineration sector, focusing on technological innovation and cost efficiency[134]. - The company has committed to investing 100 million RMB in R&D for new technologies in waste management[176]. - Ongoing research and development efforts have led to the introduction of two new technologies, projected to enhance operational efficiency by 25%[194]. Risk Management and Compliance - The company emphasizes the importance of risk awareness regarding future development plans and strategies[6]. - The company faces risks related to macroeconomic fluctuations, which could impact waste supply and government investment in waste-to-energy projects[122]. - The company has fulfilled its commitments regarding compliance with relevant laws and regulations, ensuring its operational continuity[141]. - The company confirmed that there are no significant legal issues or administrative penalties from the China Securities Regulatory Commission in the past three years[144]. - The company has established a sound corporate governance structure and independent operational management system prior to the transaction[144]. Sustainability and Environmental Impact - The management emphasized the importance of sustainability in future strategies, aiming for a 50% reduction in carbon emissions by 2025[186]. - The company is committed to sustainability, with plans to reduce operational carbon emissions by 20% by 2021[200]. - The company has implemented cost-cutting measures that are expected to reduce operational expenses by 10% in the upcoming quarter[186]. - The company has established partnerships with three new distributors to enhance its supply chain efficiency[175]. - A new partnership with local governments aims to improve waste recycling rates by 30% over the next two years[186].

Financial Performance - The company's total revenue for Q1 2019 reached ¥3,259,200,890.95, representing a significant increase of 1,016.71% compared to ¥291,856,943.95 in the same period last year[10] - Net profit attributable to shareholders was ¥79,942,436.78, up 246.08% from ¥23,099,306.25 year-on-year[10] - The diluted earnings per share rose to ¥0.0385, reflecting a 125.15% increase from ¥0.0171 in the same quarter last year[10] - The company reported a net profit of ¥1,851,393,024.76, up from ¥1,077,122,253.45, which is an increase of approximately 71.5%[53] - Net profit for the current period was ¥100,404,529.78, up from ¥22,441,832.32 in the previous period, reflecting an increase of approximately 347%[63] - The company reported a total comprehensive income of ¥98,122,237.28 for the current period, compared to ¥22,103,578.32 in the previous period, reflecting a growth of approximately 344%[66] Cash Flow - The net cash flow from operating activities was ¥211,497,217.92, a remarkable increase of 374.54% compared to a negative cash flow of -¥77,037,692.93 in the previous year[10] - The cash flow from operating activities for the current period is ¥211,497,217.92, recovering from a negative cash flow of -¥77,037,692.93 in the previous period[74] - The net cash flow from operating activities for the current period is ¥47,137,084.14, a significant improvement compared to the previous period's net cash flow of -¥305,965,296.92[83] - The cash flow from financing activities has a net inflow of ¥62,224,735.01, a recovery from a net outflow of -¥235,301,333.62 in the previous period[81] - The net cash flow from financing activities was -¥30,535,809.00, a decrease from -¥338,255,964.71 in the previous period, showing improved cash management[87] Assets and Liabilities - The total net assets attributable to shareholders increased to ¥7,929,442,330.85, a growth of 144.79% from ¥3,239,249,595.26 at the end of the previous year[10] - Total current assets reached ¥10,364,927,296.36, up from ¥1,792,418,907.08, indicating a growth of around 478.5%[44] - Non-current assets surged to ¥30,958,963,108.30 from ¥7,016,492,279.17, representing an increase of approximately 341.5%[47] - Total assets amounted to ¥41,323,890,404.66, compared to ¥8,808,911,186.25 at the end of 2018, showing a growth of about 368.5%[52] - Total liabilities increased to ¥32,715,911,294.20 from ¥5,514,397,311.77, reflecting a rise of approximately 492.5%[50] - The company's equity attributable to shareholders rose to ¥7,929,442,330.85 from ¥3,239,249,595.26, indicating an increase of about 144.0%[53] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 39,251[15] - The top shareholder, Nantong Qianchuang Investment Co., Ltd., held 16.53% of the shares, amounting to 403,070,243 shares[15] Operational Highlights - The company completed the acquisition of 100% equity in Jiangsu Dezhan, which is now a wholly-owned subsidiary, enhancing its market position[23] - The company established Shanghai Tianying Environmental Development Co., Ltd. with a registered capital of ¥50 million to engage in environmental technology and services[26] - The company signed contracts for urban sanitation integration and waste classification services, indicating ongoing expansion in service offerings[26] - The company won bids for multiple projects, including a waste incineration power generation project, which will contribute to future revenue streams[27] Government Support - The company received government subsidies amounting to ¥3,505,466.06 during the reporting period, which contributed to its financial performance[10] Research and Development - Research and development expenses for the current period were ¥14,266,031.24, compared to ¥11,703,080.22 in the previous period, indicating an increase of approximately 22%[63] - Research and development expenses for the current period are ¥636,525.87, indicating ongoing investment in innovation[69] Future Outlook - The company anticipates significant changes in net profit for the upcoming reporting period, although specific forecasts were not disclosed[33] Miscellaneous - The company did not engage in any repurchase transactions during the reporting period[18] - The first quarter report was not audited, indicating preliminary figures[100]

Financial Performance - The company reported a total revenue of 1.2 billion RMB for 2018, representing a year-on-year increase of 15%[19] - The net profit attributable to shareholders was 150 million RMB, an increase of 10% compared to the previous year[19] - The company's total revenue for 2018 was approximately ¥1.85 billion, representing a 14.58% increase compared to ¥1.61 billion in 2017[27] - The net profit attributable to shareholders for 2018 was approximately ¥216.49 million, a decrease of 2.60% from ¥222.27 million in 2017[27] - The net cash flow from operating activities increased significantly by 496.90% to approximately ¥209.79 million, compared to ¥35.15 million in 2017[27] - The weighted average return on equity for 2018 was 6.92%, down from 8.96% in 2017, reflecting a decrease of 2.04%[30] - The company reported a diluted earnings per share of ¥0.1602 for 2018, down 7.35% from ¥0.1729 in 2017[27] - The company reported a net profit attributable to shareholders of RMB 216,492,499.96 for the year 2018, showing a decrease from RMB 222,269,197.54 in 2017[179] Market Expansion and Growth Strategy - The company plans to expand its market presence by entering three new provinces in 2019, aiming for a 20% growth in user base[19] - Future guidance indicates a revenue target of 1.5 billion RMB for 2019, reflecting a growth rate of 25%[19] - The company aims to launch two new products in the waste management sector by Q3 2019, expected to contribute an additional 200 million RMB in revenue[19] - The company is exploring potential acquisitions in the environmental services sector to enhance its service offerings[19] - The company is actively expanding its garbage classification, urban sanitation, and waste incineration power generation projects, focusing on high-quality development[59] - The company is focusing on internationalization and organizational restructuring to maximize value and adapt to global challenges[80] - The company is focusing on expanding its market presence and exploring potential mergers and acquisitions to drive growth[188] Research and Development - Research and development expenses increased by 25% to 100 million RMB, focusing on new waste treatment technologies[19] - The company has established a postdoctoral research station and was recognized as a national intellectual property demonstration enterprise, applying for 113 patents in 2018[68] - The number of R&D personnel increased by 52.04% to 149, indicating a focus on enhancing technological capabilities[102] - R&D investment accounted for 2.62% of operating revenue, up from 2.35% in the previous year, demonstrating a commitment to innovation[104] - The company has introduced advanced plasma disposal technology for hazardous waste treatment, enhancing its environmental protection capabilities[45] - The company has established a smart environmental management platform integrating IoT, big data, and cloud computing technologies[46] Financial Management and Investments - The total investment amount for the reporting period was ¥788,128,871.70, representing a 14.72% increase compared to ¥687,007,383.29 in the previous year[132] - The company has secured a loan of ¥90 million from Zhejiang Commercial Bank, backed by its receivables[124] - The company’s total borrowings from various banks amount to over ¥1 billion, with multiple subsidiaries providing guarantees for these loans[125] - The company has pledged properties with a fair value of 235,377,845.08 yuan as collateral for loans, with a book value of 257,034,538.60 yuan[119] - The company has not distributed any cash dividends for the years 2016, 2017, and 2018, maintaining a cash dividend payout ratio of 0.00%[182] Operational Challenges and Risks - The company has identified key risks in its operational strategy, including regulatory changes and market competition, and has outlined mitigation measures[6] - The company faces risks related to macroeconomic changes, which could impact waste supply and government investment in waste-to-energy projects[159] - Increased competition in the solid waste disposal industry poses challenges, with many enterprises entering the market[160] - Political risks associated with overseas investments are a concern, requiring careful analysis of host countries' environments[161] - The company is in a rapid expansion phase, which may lead to funding risks affecting business growth[164] Corporate Governance and Compliance - The company has established a sound corporate governance structure and independent operational management system prior to the transaction, ensuring independence from actual controllers and related parties[192] - The company has maintained compliance with relevant laws and regulations, with no records of penalties for violations in the past three years[188] - The company has committed to providing accurate and complete information for the transaction, taking legal responsibility for any misrepresentation[195] - There are no ongoing criminal investigations or regulatory inquiries against the company, ensuring compliance with securities regulations[192] - The company has not faced any administrative penalties from the China Securities Regulatory Commission in the past three years[192]