北京市炜衡律师事务所 关于 东旭蓝天新能源股份有限公司 二〇二三年九月十五日 关于东旭蓝天新能源股份有限公司2023年第二次临时股东大会之见证法律意见书 2023年第二次临时股东大会 之 见证法律意见书 北京市炜衡律师事务所接受东旭蓝天新能源股份有限公司（以下简称"公 司"）委托，指派本所律师出席公司2023年第二次临时股东大会（以下简称 "本次股东大会"）进行法律见证，并依据《中华人民共和国公司法（2018 年修正）》（以下简称《公司法》）、《中华人民共和国证券法（2019年修 订）》（以下简称《证券法》）、《上市公司股东大会规则（2022年修订）》 （以下简称《股东大会规则》）、《上市公司治理准则（2018年修订）》（以 下简称《治理准则》）、《深圳证券交易所上市公司自律监管指引第1号—— 主板上市公司规范运作（2023年修订）》（以下简称《上市公司自律监管指 引第1号》）、《深圳证券交易所上市公司股东大会网络投票实施细则（2020 年修订）》（以下简称《网络投票实施细则》）等法律、行政法规、规章、规 范性文件以及公司现行有效的《东旭蓝天新能源股份有限公司章程》（以下 简称《公司章程》）的有关规定，就公司 ...

证券代码：000040 证券简称：东旭蓝天 公告编号：2023-029 2023 年第二次临时股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 特别提示： 1、本次股东大会不存在否决提案的情形。 2、本次股东大会不存在涉及变更以往股东大会已通过的决议。 一、会议召开情况 1、召开时间： 现场会议时间为：2023 年 9 月 15 日(星期五) 下午 14:30 网络投票时间为：通过深圳证券交易所交易系统进行网络投票的具体时间为： 2023年9月15日上午9:15至9:25、9:30至11:30，下午13:00至15:00；通过深圳证券 交易所互联网投票系统投票的具体时间为：2023年9月15日上午9:15至下午15:00。 东旭蓝天新能源股份有限公司 2、现场会议召开地点：北京市西城区菜园街 1 号综合会议室 3、召开方式：现场投票与网络投票相结合 4、召集人：公司董事会 5、现场会议主持人：公司董事长赵艳军先生 6、会议的召集、召开符合《中华人民共和国公司法》、《上市公司股东大 会规则》 等有关法律、行政法规、部门规章、规范性文件及《东旭蓝天 ...

Financial Performance - The company's operating revenue for the first half of 2023 was approximately ¥1.157 billion, a decrease of 32.93% compared to ¥1.725 billion in the same period last year[21]. - The net profit attributable to shareholders was ¥25.33 million, a significant turnaround from a loss of ¥174.92 million in the previous year, representing an increase of 114.48%[21]. - The net cash flow from operating activities decreased by 53.90% to ¥102.21 million, down from ¥221.70 million in the same period last year[21]. - The company reported a basic earnings per share of ¥0.0170, a significant improvement from a loss of ¥0.1176 per share in the previous year[21]. - Total operating revenue decreased by 32.93% to CNY 1,156,696,446.90 compared to CNY 1,724,645,076.00 in the same period last year[49]. - New energy revenue accounted for 86.33% of total revenue, amounting to CNY 998,525,426.98, down 10.98% year-on-year[49]. - Operating costs decreased by 34.45% to CNY 937,873,117.98, primarily due to reduced employee compensation and promotional expenses[50]. - Financial expenses significantly reduced by 72.10% to CNY 80,352,652.22, attributed to lower interest expenses from debt restructuring[50]. - The gross margin for new energy revenue was 19.97%, reflecting a slight increase of 0.90% compared to the previous year[51]. - The company reported a total revenue of 4.18836 billion yuan for the first half of 2023[110]. Assets and Liabilities - The company maintained a total asset value of approximately ¥24.66 billion, a decrease of 3.20% from ¥25.47 billion at the end of the previous year[21]. - As of the end of the reporting period, cash and cash equivalents amounted to ¥3,252,666,181, accounting for 13.19% of total assets, a decrease of 1.16% from the previous year[55]. - Accounts receivable reached ¥3,462,782,606, representing 14.04% of total assets, an increase of 0.23% compared to the previous year[55]. - The company's total liabilities included short-term borrowings of ¥1,558,769,466, maintaining a ratio of 6.32% of total assets, unchanged from the previous year[55]. - Long-term borrowings increased to ¥3,616,051,172, which is 14.67% of total assets, reflecting a rise of 1.39% from the previous year[55]. - The total value of fixed assets was ¥5,282,143,920, accounting for 21.42% of total assets, an increase of 0.20% from the previous year[55]. - The company's total liabilities decreased from CNY 14.21 billion to CNY 13.37 billion, a decline of about 5.9%[157]. - Current liabilities decreased from CNY 8.98 billion to CNY 8.17 billion, a reduction of approximately 9.0%[157]. Operational Developments - The company has 57 self-owned photovoltaic power stations with a total installed capacity of about 1GW as of the end of the reporting period[30]. - The company is focusing on the "carbon peak and carbon neutrality" goals and is committed to becoming a leading comprehensive service provider in the environmental and renewable energy sectors[29]. - The company has developed an intelligent operation and maintenance management platform for photovoltaic power stations, achieving full-cycle smart energy management[30]. - The company is actively pursuing ecological agriculture projects, including a pilot "tea garden complex" project, leveraging existing photovoltaic bases[30]. - The company secured new renewable energy and ecological environmental engineering orders amounting to 1.18 billion yuan during the reporting period[36]. - The company achieved a revenue of 4.08 billion yuan from electricity sales and received 790 million yuan in national subsidies[35]. - The company is focused on expanding its market presence in the renewable energy sector, particularly in photovoltaic power stations[69]. - The company is actively working on debt restructuring to alleviate financial pressure and reduce interest expenses[73]. Research and Development - The company has allocated 4.5 million yuan for research and development in new technologies for renewable energy[176]. - Research and development investment slightly decreased by 5.64% to CNY 13,546,669.96[50]. - The company is committed to ongoing research and development in new energy technologies to enhance its competitive edge in the market[69]. Market Expansion and Strategy - The company plans to expand its market presence by collaborating with local governments and state-owned enterprises to invest in photovoltaic power stations and related fields[74]. - The company is focusing on improving the operational management of its self-owned power stations to increase profitability amidst rising industry competition[74]. - The company plans to expand its market presence by entering three new regions by the end of 2023[176]. - A strategic acquisition of a smaller competitor is anticipated to enhance market share by 10%[175]. Legal and Compliance - The company has not engaged in any derivative investments during the reporting period, maintaining a conservative investment strategy[65]. - There were no significant asset or equity sales reported during the period, suggesting stability in the company's asset management[67]. - The company has not utilized any fundraising during the reporting period, indicating a self-sustaining operational model[66]. - The company has committed to publicly clarify any misleading information that may affect its stock price[92]. - The company has confirmed its ability to continue as a going concern for at least 12 months from the reporting date, with no significant issues affecting this ability[193]. Sustainability and Social Responsibility - The company is focusing on sustainability initiatives, with plans to reduce carbon emissions by 20% by 2025[176]. - The company has invested over 1.9 million yuan in public welfare donations, including poverty alleviation and educational support, during the reporting period[88]. - The company owns 4 poverty alleviation power stations located in Hebei, Shandong, and Hunan, enhancing rural energy transformation and supporting rural revitalization[85]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 90,589[141]. - The largest shareholder, Dongxu Group Co., Ltd., held 39.04% of the shares, amounting to 580,419,914 shares[141]. - The company has not engaged in any repurchase transactions during the reporting period, indicating a stable shareholder structure[143].

Financial Performance - The company's operating revenue for 2022 was ¥3,036,207,794.72, a decrease of 21.68% compared to ¥3,876,723,009.56 in 2021[20] - The net profit attributable to shareholders was -¥309,274,315.22, showing an improvement of 47.61% from -¥590,275,892.41 in the previous year[20] - The basic earnings per share for 2022 was -¥0.2080, improving by 47.61% from -¥0.3970 in 2021[20] - The company reported a significant increase in cash flow from operating activities, indicating improved operational efficiency[20] - The company continues to face challenges with negative net profits over the last three accounting years, raising concerns about its going concern ability[20] - The company reported a net profit of -181,861,399.20 CNY for 2022, resulting in a total distributable profit of -732,125,148.06 CNY at year-end[155] - The consolidated net profit attributable to the parent company for 2022 was -309,274,315.22 CNY, leading to a total distributable profit of -1,107,146,734.58 CNY[155] Cash Flow and Investments - The net cash flow from operating activities increased significantly by 241.85% to ¥881,120,271.07 from ¥257,751,864.22 in 2021[20] - The company received approximately 600 million yuan in new energy subsidies during the reporting period, contributing to its revenue stability[51] - Investment cash inflow decreased by 66.83% to ¥50,666,635.89 in 2022 from ¥152,751,798.78 in 2021[75] - The net increase in cash and cash equivalents rose by 200.86% to ¥299,176,194.88 in 2022 from ¥99,438,994.36 in 2021[76] Revenue Breakdown - New energy revenue accounted for 65.64% of total revenue in 2022, totaling approximately ¥1.99 billion, down 12.38% from ¥2.27 billion in 2021[58] - Ecological environmental revenue increased by 65.19% year-on-year, reaching approximately ¥303.52 million, up from ¥183.74 million in 2021[58] - Supply chain revenue saw a significant decline of 50.03%, totaling approximately ¥636.99 million compared to ¥1.27 billion in 2021[58] Operational Efficiency - The company achieved a total installed capacity of approximately 1GW for its photovoltaic power stations, with a new installed capacity of 1.67 million kW during the reporting period, compared to 0.14 million kW in the previous year[43] - The company has established a remote intelligent operation and maintenance platform for photovoltaic power stations, enhancing operational efficiency and reducing maintenance costs[46] - The company is developing various new technologies and systems to enhance operational efficiency and reduce costs, including an automated operation and maintenance system for photovoltaic power stations[72] Market and Industry Position - The company’s revenue primarily comes from electricity sales and ecological environmental protection services[21] - The competitive landscape in the clean energy sector is intensifying, with increasing market concentration expected as stronger players emerge[37] - The company has been recognized in the "Top 500 Global New Energy Enterprises" for six consecutive years and received multiple awards for its contributions to green and low-carbon initiatives[38] Research and Development - R&D investment decreased by 25.26% to ¥25,582,595.33 in 2022 from ¥34,230,640.14 in 2021[73] - The number of R&D personnel dropped by 31.86% to 77 in 2022 from 113 in 2021[73] - Research and development investment has increased by 40% in 2022, totaling 300 million RMB, to support new technology initiatives[128] Corporate Governance - The company has a robust corporate governance structure, ensuring compliance with legal and regulatory requirements[119] - The company has established an independent financial department with a complete financial accounting system, complying with relevant accounting standards[122] - The board of directors actively participates in training and adheres to regulations, contributing to the company's stable development[116] Future Outlook - The company has set ambitious targets for 2023, projecting a revenue growth of 20% to reach approximately 1.8 billion RMB[128] - The company plans to continue expanding its market presence and invest in new technologies to enhance its competitive edge[136] - The company aims to enhance its core competitiveness in the renewable energy sector by developing efficient photovoltaic component manufacturing bases and energy storage projects in resource-rich areas[101] Social Responsibility and Sustainability - The company has actively engaged in social responsibility initiatives while pursuing economic benefits[167] - The company is committed to sustainability, with plans to reduce carbon emissions by 25% over the next three years through innovative practices[128] - The company has established 4 poverty alleviation power stations with a total installed capacity of 290 kW, benefiting tens of thousands of registered impoverished households[177]

Financial Performance - The company's operating revenue for Q1 2023 was ¥583,622,511.78, a decrease of 14.04% compared to ¥678,980,331.23 in the same period last year[5] - Net profit attributable to shareholders was ¥16,221,272.40, representing a significant increase of 128.14% from a loss of ¥57,651,321.05 in the previous year[5] - The net profit after deducting non-recurring gains and losses was ¥16,828,124.32, up 129.41% from a loss of ¥57,220,361.00 in the same period last year[5] - The company's basic and diluted earnings per share were both ¥0.0109, an increase of 128.09% compared to a loss of ¥0.0388 in the previous year[5] - Total operating revenue for Q1 2023 was ¥583,622,511.78, a decrease of 13.9% compared to ¥678,980,331.23 in the same period last year[17] - Total operating costs for Q1 2023 were ¥555,550,653.40, down 24.8% from ¥738,550,658.83 in Q1 2022[18] - Net profit attributable to the parent company was ¥16,221,272.40, a significant improvement from a net loss of ¥57,651,321.05 in the previous year[19] - The company reported a net profit of ¥16,086,567.23 for Q1 2023, compared to a net loss of ¥57,807,583.88 in Q1 2022[19] - Earnings per share for Q1 2023 were ¥0.0109, recovering from a loss of ¥0.0388 per share in the same quarter last year[19] Cash Flow and Liquidity - The net cash flow from operating activities was -¥42,474,734.57, a decline of 52.18% compared to -¥27,911,279.24 in the previous year[5] - Cash received from sales of goods and services was ¥621,585,240.09, a decrease from ¥660,576,210.13 in Q1 2022[21] - The net cash flow from operating activities for Q1 2023 was -42,474,734.57 CNY, compared to -27,911,279.24 CNY in Q1 2022, indicating a decline in operational cash flow[22] - Total cash inflow from financing activities was 48,000,000.00 CNY, significantly lower than 370,300,000.00 CNY in the previous year[22] - The net cash flow from financing activities was -280,712,500.77 CNY, compared to -59,310,214.34 CNY in Q1 2022, reflecting increased cash outflows[22] - The total cash and cash equivalents at the end of Q1 2023 were 355,757,815.18 CNY, down from 698,670,450.79 CNY at the beginning of the period[23] - The net increase in cash and cash equivalents for Q1 2023 was -342,912,635.61 CNY, compared to -115,639,761.31 CNY in Q1 2022[23] - The total cash outflow from operating activities was 670,032,718.66 CNY, compared to 716,988,846.57 CNY in the same period last year[22] - The cash paid for purchasing goods and services was 523,670,052.15 CNY, down from 640,910,208.59 CNY in Q1 2022[22] - The cash paid for employee compensation was 24,209,264.66 CNY, similar to 24,314,233.62 CNY in Q1 2022[22] - The company reported a total cash outflow from investment activities of 19,733,283.83 CNY, compared to 28,417,921.06 CNY in the previous year[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥25,185,718,516.06, a decrease of 1.13% from ¥25,473,554,500.66 at the end of the previous year[5] - The company's cash and cash equivalents decreased to CNY 3,316,113,544.19 from CNY 3,655,275,843.75, representing a decline of about 9.3%[13] - Accounts receivable increased to CNY 3,559,184,932.81 from CNY 3,519,095,005.97, showing a growth of approximately 1.14%[14] - The total current liabilities were reported at CNY 4,500,000,000, with short-term borrowings at CNY 1,586,596,621.88, slightly down from CNY 1,608,862,659.09 at the beginning of the year[14] - The company reported a total of CNY 12,407,682,608.24 in current assets, down from CNY 12,605,150,675.22, indicating a decrease of about 1.57%[14] - The company’s long-term equity investments rose to CNY 12,348,575.32 from CNY 12,253,023.73, marking an increase of about 0.78%[14] - The total non-current assets were reported at CNY 12,778,035,907.82, a slight decrease from CNY 12,868,403,825.44, indicating a decline of approximately 0.70%[14] - The company’s total liabilities were reported at CNY 4,500,000,000, with accounts payable at CNY 2,730,847,464.84, down from CNY 2,813,483,840.90, reflecting a decrease of about 2.94%[14] - Total liabilities amounted to ¥13,906,110,026.33, compared to ¥14,211,837,218.17 in the previous year[15] - Total equity attributable to shareholders of the parent company was ¥11,282,321,835.99, slightly up from ¥11,264,291,285.68 year-on-year[15] - The company’s total assets were reported at ¥25,185,718,516.06, compared to ¥25,473,554,500.66 in the previous year[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 93,128, with the largest shareholder, Dongxu Group, holding 39.04% of the shares[10] Government Support - The company received government subsidies amounting to ¥434,440.08, primarily related to normal business operations[6] Strategic Outlook - The company has not disclosed any significant new product developments or market expansion strategies during this reporting period[12] - The company plans to continue focusing on market expansion and new product development to drive future growth[18] Audit Information - The company did not conduct an audit for the Q1 2023 report[24]

Financial Performance - The company's operating revenue for 2022 was ¥3,036,207,794.72, a decrease of 21.68% compared to ¥3,876,723,009.56 in 2021[20] - The net profit attributable to shareholders was a loss of ¥309,274,315.22, an improvement of 47.61% from a loss of ¥590,275,892.41 in the previous year[20] - The net cash flow from operating activities increased by 241.85% to ¥881,120,271.07, compared to ¥257,751,864.22 in 2021[20] - The basic and diluted earnings per share were both -¥0.2080, showing a 47.61% improvement from -¥0.3970 in 2021[20] - Total assets at the end of 2022 were ¥25,473,554,500.66, a decrease of 2.60% from ¥26,152,927,015.00 at the end of 2021[20] - The net assets attributable to shareholders decreased by 2.77% to ¥11,264,291,285.68 from ¥11,585,277,202.14 in 2021[20] - The company reported a total investment of 262.12 million during the reporting period, a decrease of 28.47% compared to 366.44 million in the previous year[84] - The company reported a net profit of -181,861,399.20 CNY for the year 2022, with a total distributable profit of -732,125,148.06 CNY at year-end[155] - The consolidated net profit attributable to the parent company for 2022 was -309,274,315.22 CNY, resulting in a total distributable profit of -1,107,146,734.58 CNY[155] Revenue Breakdown - Revenue from the renewable energy sector was approximately ¥1.99 billion, accounting for 65.64% of total revenue, down 12.38% from ¥2.27 billion in 2021[58] - The ecological environmental revenue increased by 65.19% to approximately ¥303.52 million, up from ¥183.74 million in 2021, representing 10.00% of total revenue[58] - Supply chain revenue saw a significant decline of 50.03%, dropping to approximately ¥636.99 million from ¥1.27 billion in 2021, accounting for 20.98% of total revenue[58] Cash Flow and Investments - The company received approximately 600 million yuan in new energy subsidies during the reporting period, contributing to its revenue stability[51] - Cash and cash equivalents net increase rose by 200.86% to ¥299,176,194.88 in 2022 from ¥99,438,994.36 in 2021[76] - Investment cash inflow decreased by 66.83% to ¥50,666,635.89 in 2022 from ¥152,751,798.78 in 2021[75] - The net cash flow from financing activities turned negative, decreasing by 763.24% to -¥371,022,232.24 in 2022 from ¥55,941,170.09 in 2021[76] Operational Efficiency - The company reported a significant increase in cash flow from operating activities, indicating improved operational efficiency[20] - The company has established a remote intelligent operation and maintenance platform for photovoltaic power stations, enhancing operational efficiency and reducing maintenance costs[46] - The company is focusing on enhancing its management and team efficiency through organizational changes and employee engagement initiatives[55] - The company is developing a large-scale photovoltaic power station automatic operation and maintenance system to enhance component safety and reduce losses[72] Market and Industry Insights - The solar power industry in China saw a record new installed capacity of 87.41 GW in 2022, representing a year-on-year growth of 59.3%[33] - The company anticipates that the solar power market will continue to grow, with predictions of new installed capacity reaching 95-120 GW in China in 2023[34] - The company holds approximately 1 GW of self-owned solar power station capacity and nearly 2 GW of self-operated and entrusted operation projects[38] Research and Development - The company has invested 100 million RMB in R&D for new energy technologies, aiming to innovate and improve efficiency[128] - Ongoing R&D projects include a smart distribution network control system and a family energy management system, focusing on efficiency and cost reduction[71] - The company completed the acceptance of the 200MW high-efficiency photovoltaic module project, aiming to increase power generation efficiency from 450W to 550W, a 22% improvement[71] Governance and Compliance - The company emphasizes transparency in information disclosure, providing timely and accurate information to all shareholders to protect their rights[118] - The supervisory board operates independently, fulfilling its duties to oversee major company matters and ensuring compliance with laws and regulations[117] - The company maintains independence in operations, assets, finance, and business from its controlling shareholders, ensuring no interference in decision-making[121] Employee and Management - The total number of employees at the end of the reporting period was 442, with 240 in production, 53 in sales, and 21 in technical roles[149] - The company has implemented a comprehensive employee training program to enhance overall staff quality[152] - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 604.9 million RMB[141] Environmental and Social Responsibility - The company generated 1.15 billion kWh of electricity from its photovoltaic power stations, equivalent to saving 374,000 tons of standard coal, reducing carbon dioxide emissions by 1.137 million tons, sulfur dioxide by 34,200 tons, and nitrogen oxides by 17,100 tons[166] - The company has established 4 poverty alleviation power stations with a total installed capacity of 290 kW, benefiting tens of thousands of registered impoverished households[177] - The company has been actively involved in over 100 government-commissioned projects related to poverty alleviation and rural development[136]

Main Financial Data [Key Accounting Data and Financial Indicators](index=2&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%20%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In Q3 2022, the company's operating revenue decreased by 8.33% year-on-year, and net profit attributable to shareholders significantly dropped by 57.59% Key Financial Indicators for Q3 2022 and Year-to-Date | Indicator | Current Period (Q3) | YoY Change (Current Period) | Year-to-Date (YTD) | YoY Change (Year-to-Date) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 1,011,308,292.13 | -8.33% | 2,735,953,368.16 | -2.84% | | Net Profit Attributable to Shareholders (Yuan) | 7,378,557.51 | -57.59% | -167,540,115.94 | 6.54% | | Net Cash Flow from Operating Activities (Yuan) | — | — | 363,890,905.34 | 21.92% | | Basic Earnings Per Share (Yuan/share) | 0.005 | -58.33% | -0.1127 | 6.55% | | Total Assets (Yuan) | 26,580,790,211.07 | 1.64% (vs. prior year-end) | 26,580,790,211.07 | 1.64% (vs. prior year-end) | | Shareholders' Equity Attributable to Parent Company (Yuan) | 11,418,178,277.17 | -1.44% (vs. prior year-end) | 11,418,178,277.17 | -1.44% (vs. prior year-end) | [Non-recurring Gains and Losses](index=2&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%20%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) During the reporting period, non-recurring gains and losses primarily stemmed from the disposal of non-current assets, specifically a 13.45 million Yuan gain from selling old factory buildings Details of Non-recurring Gains and Losses (Year-to-Date) | Item | Year-to-Date Amount (Yuan) | Description | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | 13,453,402.34 | Mainly due to the disposal of old factory buildings by a subsidiary in the current period | | Government Grants Recognized in Current P&L | 8,244,030.92 | - | | Other Non-operating Income and Expenses | -22,827,778.93 | - | | **Total** | **-3,170,140.94** | -- | [Analysis of Major Financial Indicator Changes](index=3&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%20%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E5%8F%91%E7%94%9F%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) Several financial indicators showed significant changes, with other payables and long-term borrowings increasing, while credit impairment losses decreased and asset impairment losses increased - **Other Payables**: Increased by **107.12%** compared to the end of the previous year, primarily due to increased overdue interest[9](index=9&type=chunk) - **Long-term Borrowings**: Increased by **49.46%** compared to the end of the previous year, mainly due to loan extensions[9](index=9&type=chunk) - **Credit Impairment Losses**: Decreased by **82.53%** year-on-year from the beginning of the year to the end of the reporting period, primarily due to the reversal of bad debts from debt offsetting in the current period[9](index=9&type=chunk) - **Asset Impairment Losses**: Increased by **201.80%** year-on-year from the beginning of the year to the end of the reporting period, mainly due to increased impairment provisions for contract assets in the current period[9](index=9&type=chunk) - **Income Tax Expense**: Increased by **100.21%** year-on-year from the beginning of the year to the end of the reporting period, primarily due to the gradual expiration of income tax preferential policies for power station companies in the current period[9](index=9&type=chunk) Shareholder Information [Common Shareholder Holdings](index=3&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%20%E6%99%AE%E9%80%9A%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E5%92%8C%E8%A1%A8%E5%86%B3%E6%9D%83%E6%81%A2%E5%A4%8D%E7%9A%84%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of the end of the reporting period, the total number of common shareholders was 104,515, with the largest shareholder, Dongxu Group Co., Ltd., holding 39.04% of shares, most of which are pledged and frozen - As of the end of the reporting period, the total number of common shareholders was **104,515**[11](index=11&type=chunk) Top Three Shareholders' Holdings | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held | Pledged/Frozen Status | | :--- | :--- | :--- | :--- | :--- | | Dongxu Group Co., Ltd. | Domestic Non-state-owned Legal Person | 39.04% | 580,419,914 | Pledged 576,673,200 shares, Frozen 580,419,914 shares | | Qianhai Open Source Fund - SPD Bank - Guomin Trust - Guomin Trust · Zhengtong No. 7 Single Fund Trust | Other | 2.89% | 42,971,601 | None | | Xu Kaidong | Domestic Natural Person | 0.82% | 12,210,400 | None | Quarterly Financial Statements [Consolidated Balance Sheet](index=4&type=section&id=1%E3%80%81%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of September 30, 2022, total assets were 26.58 billion Yuan, total liabilities were 15.17 billion Yuan, and equity attributable to parent company shareholders was 11.42 billion Yuan Key Items from Consolidated Balance Sheet | Item | September 30, 2022 (Yuan) | January 1, 2022 (Yuan) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 26,580,790,211.07 | 26,152,927,015.00 | 1.64% | | Total Liabilities | 15,165,984,563.76 | 14,570,905,645.14 | 4.08% | | Total Equity Attributable to Parent Company Shareholders | 11,418,178,277.17 | 11,585,277,202.14 | -1.44% | [Consolidated Income Statement (Year-to-Date)](index=6&type=section&id=2%E3%80%81%E5%90%88%E5%B9%B6%E5%B9%B4%E5%88%9D%E5%88%B0%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E5%88%A9%E6%B6%A6%E8%A1%A8) In the first three quarters of 2022, total operating revenue decreased by 2.84%, while operating loss and net loss attributable to parent company shareholders both narrowed Key Items from Consolidated Income Statement (Year-to-Date) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | I. Total Operating Revenue | 2,735,953,368.16 | 2,815,921,579.36 | -2.84% | | II. Total Operating Costs | 2,826,217,938.28 | 2,905,541,385.89 | -2.73% | | III. Operating Profit | -127,264,848.99 | -162,744,190.48 | 21.80% | | V. Net Profit | -167,688,830.70 | -184,580,770.14 | 9.15% | | Net Profit Attributable to Parent Company Shareholders | -167,540,115.94 | -179,273,177.41 | 6.54% | [Consolidated Cash Flow Statement (Year-to-Date)](index=8&type=section&id=3%E3%80%81%E5%90%88%E5%B9%B6%E5%B9%B4%E5%88%9D%E5%88%B0%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In the first three quarters of 2022, net cash flow from operating activities increased by 21.92%, while investing and financing activities resulted in net outflows Key Items from Consolidated Cash Flow Statement (Year-to-Date) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 363,890,905.34 | 298,476,157.37 | | Net Cash Flow from Investing Activities | -176,320,822.92 | -501,257,801.19 | | Net Cash Flow from Financing Activities | -192,238,784.29 | 256,977,553.45 | | Net Increase in Cash and Cash Equivalents | -4,098,438.24 | 54,020,702.81 | | Cash and Cash Equivalents at Period-End | 395,395,817.67 | 354,075,964.36 |

Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥1.72 billion, representing a 0.70% increase compared to the same period last year[20]. - The net loss attributable to shareholders was approximately ¥174.92 million, an improvement of 11.06% from a net loss of ¥196.67 million in the previous year[20]. - The company reported a decrease in net profit after deducting non-recurring gains and losses, amounting to approximately -¥168.83 million, which is a 15.01% improvement from the previous year's loss[20]. - The company's total revenue for the reporting period was ¥1,724,645,076.03, representing a year-on-year increase of 0.70% compared to ¥1,712,689,334.94 in the same period last year[40]. - The net profit attributable to shareholders was -175 million yuan, with a reduced loss margin compared to the previous year[30]. - The company reported a significant reduction in accounts receivable financing, decreasing from 10,927,990.00 to 2,017,754.75, a decline of approximately 81.55%[51]. - The company reported a total comprehensive income for the first half of 2022 was a loss of CNY 174,858,618.52, compared to a loss of CNY 199,201,857.29 in the same period of 2021, reflecting a decrease in comprehensive losses of about 12.2%[152]. Cash Flow and Financial Position - The net cash flow from operating activities decreased by 9.61% to approximately ¥221.70 million compared to ¥245.27 million in the same period last year[20]. - The company reported a net cash outflow from financing activities of ¥124,189,569.17, a decrease of 226.36% compared to the previous year, primarily due to loan repayments[40]. - The total cash and cash equivalents decreased by 181.78% to a net outflow of ¥30,282,235.19 compared to an inflow of ¥37,030,819.35 in the same period last year[40]. - The company’s accounts receivable increased to ¥3,883,173,648.54, representing 14.75% of total assets, up from 12.45% the previous year[49]. - The company’s long-term borrowings increased significantly to ¥2,650,247,907.72, accounting for 10.07% of total assets, due to reclassification of long-term debt to current liabilities[49]. - The company reported a total of 16,987.78 million CNY related to a rental default case, which has been concluded in the first instance[102]. Operational Efficiency and Investments - The company achieved operating revenue of 1.725 billion yuan, a year-on-year increase of 0.7%[30]. - The company has a self-owned photovoltaic power station with a grid-connected installed capacity of about 1GW and has established an intelligent operation and maintenance management platform for photovoltaic power stations[28]. - The company has implemented a smart energy management platform for photovoltaic power stations, enhancing operational safety and efficiency[35]. - The company plans to provide comprehensive solutions and technical services in the fields of smart energy operation and ecological environment governance[28]. - The company reported a total investment during the reporting period was 141,017,925.20, which represents a decrease of 47.29% compared to the previous year's investment of 267,539,724.23[54]. - The company is focusing on developing high-end edible oils and daily care products to expand its product line in the tea oil sector[32]. Strategic Initiatives and Future Outlook - The company is focusing on the "carbon peak and carbon neutrality" goals and is developing ecological agriculture projects, including a "tea garden complex" project based on the Dabie Mountain oil tea industry[28]. - The company plans to continue debt risk mitigation efforts, including communication with financial institutions for debt restructuring[72]. - The company is actively expanding its market presence by collaborating with state-owned enterprises in renewable energy development[73]. - The company aims to enhance its operational efficiency by reducing costs and optimizing management measures[99]. - The company plans to expand its main business in renewable energy and ecological environmental protection, leveraging national policies to boost revenue[99]. - The company is focused on developing new technologies and products to strengthen its market presence and drive future growth[104]. Legal and Compliance Matters - The company is currently involved in multiple legal cases, with a total of approximately 4.3 million yuan in potential liabilities under negotiation, but expects no penalties to arise from these disputes[104]. - The company confirmed that it does not need to provision for expected liabilities related to ongoing legal disputes, which is a positive indicator for financial health[104]. - The company has not faced any environmental penalties during the reporting period and maintains compliance with environmental standards[82]. - The company has no significant related party transactions during the reporting period[108]. - The company has not reported any violations in the procedures for providing guarantees[122]. Shareholder and Equity Information - The total number of shares before the change was 1,486,873,870, with no new shares issued or changes in shareholding structure[128]. - The largest shareholder, Dongxu Group Co., Ltd., held 39.04% of the shares, with a total of 576,673,200 shares[130]. - The company did not report any share repurchase progress during the reporting period[129]. - The total equity attributable to shareholders was CNY 11,410,965,418.78 as of June 30, 2022, down from CNY 11,585,277,202.14 at the beginning of the year, a decrease of approximately 1.5%[148]. - The company has a guarantee amount of CNY 80,000 million for Dongxu New Energy Investment Co., Ltd.[122]. Environmental and Social Responsibility - The company reported a total electricity generation of 573 million kWh in the first half of 2022, saving 191,900 tons of standard coal and reducing CO2 emissions by 499,816 tons[82]. - Dongxu Lantian holds 4 poverty alleviation power stations with a total on-grid electricity of 420 million kWh, benefiting tens of thousands of impoverished households[84]. - The Dabieshan Tea Oil Industrial Park project creates hundreds of job opportunities for local farmers and supports income growth through land transfer and financial assistance[86]. - Dongxu Kangtu Solar Technology Co., established in 2016, has created over 100 reemployment positions and has become a model for photovoltaic poverty alleviation projects[87].

Financial Performance - The company's revenue for Q1 2022 was ¥678,980,331.23, representing a 16.16% increase compared to ¥584,504,337.24 in the same period last year[2] - The net profit attributable to shareholders was -¥57,651,321.05, an improvement of 30.09% from -¥82,463,112.91 year-on-year[2] - Total operating revenue for Q1 2022 was ¥678,980,331.23, an increase of 16.14% compared to ¥584,504,377.24 in Q1 2021[16] - Net loss for Q1 2022 was ¥57,807,583.88, a reduction in loss of 30.66% compared to a net loss of ¥83,238,629.08 in Q1 2021[17] - The company reported a total comprehensive loss of ¥54,991,399.66 for Q1 2022, compared to a loss of ¥83,555,662.39 in Q1 2021[17] - Basic and diluted earnings per share for Q1 2022 were both -¥0.0388, an improvement from -¥0.0555 in Q1 2021[18] Cash Flow and Liquidity - The net cash flow from operating activities was -¥27,911,279.24, a significant decline of 232.16% compared to ¥21,118,568.62 in the previous year[2] - The company did not have any cash inflows from investment activities during the reporting period, marking a 100% decrease from ¥66,054,986.74 in the previous year[7] - Operating cash flow for Q1 2022 was negative at ¥27,911,279.24, compared to positive cash flow of ¥21,118,568.62 in Q1 2021[19] - Cash and cash equivalents at the end of Q1 2022 were ¥283,854,494.60, down from ¥317,399,125.28 at the end of Q1 2021[21] - The company’s total assets decreased, impacting its liquidity position, as reflected in the cash flow statements[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥25,998,155,575.98, a decrease of 0.59% from ¥26,152,927,015.00 at the end of the previous year[2] - The company's current assets totaled CNY 12,725,878,853.02, slightly down from CNY 12,802,492,309.99 at the start of the year[14] - Total liabilities decreased to CNY 14,471,125,605.78 from CNY 14,570,905,645.14, a reduction of approximately 0.7%[15] - The company's short-term borrowings were CNY 1,560,551,197.04, down from CNY 1,644,157,817.76[15] - The total equity attributable to shareholders decreased to CNY 11,530,444,487.40 from CNY 11,585,277,202.14, a decline of about 0.5%[15] Research and Development - Research and development expenses increased by 38.41% to ¥7,579,105.20 from ¥5,475,898.45 in the same period last year[7] - Research and development expenses increased to ¥7,579,105.20 in Q1 2022, up 38.38% from ¥5,475,898.45 in Q1 2021[16] Shareholder Information - The company had a total of 73,162 common shareholders at the end of the reporting period[10] - The largest shareholder, Dongxu Group Co., Ltd., held 39.04% of the shares, amounting to 580,419,914 shares, with 423,673,200 shares pledged[10] Financial Expenses - The company incurred financial expenses of ¥151,225,107.91 in Q1 2022, an increase of 23.39% from ¥122,510,247.44 in Q1 2021[16]

Financial Performance - The company's operating revenue for 2021 was CNY 3,876,723,009.56, an increase of 11.68% compared to CNY 3,471,428,437.98 in 2020[17]. - The net profit attributable to shareholders was a loss of CNY 590,275,892.41, improving by 42.18% from a loss of CNY 1,020,892,685.09 in the previous year[17]. - The net cash flow from operating activities decreased by 52.94% to CNY 257,751,864.22 from CNY 547,736,979.29 in 2020[17]. - The total assets at the end of 2021 were CNY 26,152,927,015.00, a slight decrease of 0.18% from CNY 26,201,168,826.73 at the end of 2020[17]. - The net assets attributable to shareholders decreased by 4.83% to CNY 11,585,277,202.14 from CNY 12,173,091,627.70 in 2020[17]. - The basic earnings per share for 2021 was -CNY 0.3970, an improvement of 42.18% from -CNY 0.6866 in 2020[17]. - The company reported a quarterly revenue of CNY 1,060,801,430.20 in Q4 2021, with a net profit loss of CNY 411,002,715.00 for the same quarter[22]. - The company achieved total revenue of ¥3.877 billion, representing a year-on-year increase of 11.68%, while the net profit attributable to shareholders was -¥590 million, a reduction in losses compared to the previous year[46]. Revenue Sources - The company’s revenue from power sales and ecological environmental protection contributed significantly to the operating income[18]. - New energy revenue accounted for ¥2.27 billion, which is 58.67% of total revenue, showing a significant growth of 68.53% from ¥1.35 billion in 2020[56]. - The ecological and environmental protection revenue saw a drastic decline of 62.57%, dropping to approximately ¥183.74 million from ¥490.93 million in 2020[56]. Operational Developments - The company has a self-owned photovoltaic power station with a grid-connected installed capacity of approximately 1GW and over 2GW in self-operation and agency operation projects[35]. - The company has established a smart operation and maintenance management platform for photovoltaic power stations, enhancing data collection and intelligent fault diagnosis[36]. - The company is piloting a "tea garden complex" project under the "agriculture-photovoltaic complementary" model, aiming to create a well-known brand in tea oil[37]. - The company has developed a high-end photovoltaic module manufacturing enterprise with an annual production capacity of 1 GW, which has become a significant part of its photovoltaic business[50]. Government Support and Subsidies - In 2021, the company received government subsidies amounting to ¥14,744,653.08, reflecting a significant increase compared to previous years[28]. - The company received approximately ¥1.5 billion in renewable energy subsidies during the year, with outstanding subsidy receivables totaling ¥1.5 billion at the end of the reporting period[46]. Debt and Financial Management - The company has actively engaged in debt resolution, achieving loan extension agreements totaling ¥4.241 billion during the reporting period, with total interest-bearing liabilities amounting to ¥9.138 billion at the end of the reporting period[51]. - The company is committed to resolving debt risks by negotiating with creditors for debt restructuring and maintaining the stability of existing loans[105]. - The company will enhance cost management and financial control to optimize operational efficiency and reduce expenses[106]. Research and Development - R&D expenses rose significantly by 40.55% to ¥36,553,365.45, reflecting increased investment in research and development[69]. - The company is currently developing a 200MW high-efficiency solar module aimed at increasing power output from 450W to 550W, which is expected to lower production costs[70]. - The company is enhancing its core technology capabilities through research on the application of refined tea oil in cosmetics[72]. Corporate Governance - The company has established a comprehensive internal control management system aligned with its development strategy, evaluating the effectiveness of internal controls as of December 31, 2021[161]. - The company has a well-established corporate governance structure, ensuring no significant discrepancies with regulatory requirements[120]. - The company maintains independence in personnel, assets, finance, organization, and business from its controlling shareholders[121]. Market Expansion and Strategy - The company is focused on expanding its market presence through acquisitions and strategic partnerships in the renewable energy sector[62]. - The company plans to actively pursue large-scale renewable energy projects in regions with strong resource conditions, such as Inner Mongolia, Qinghai, Gansu, and Shaanxi, to achieve scalable growth[102]. - The company aims to enhance its integrated zero-carbon solution capabilities by focusing on "smart energy + environmental governance" and strengthening technology research and development[101]. Social Responsibility and Community Engagement - The company contributed approximately 140,000 yuan in poverty alleviation donations to the Jinzhai area from 2018 to 2021[177]. - The company donated over 2,500 essential food items valued at approximately 100,000 RMB to support flood relief efforts in Xinxiang, Henan Province[178]. - The company established the Anhui Dongxu Kangtu Solar Technology Co., which has created over 100 re-employment positions and supported the local photovoltaic industry[180]. Leadership Changes - The company experienced a management turnover, with multiple executives resigning, including the General Manager and Chairman, Wang Fumin, on May 27, 2021[128]. - Zhao Yanjun was elected as the new Chairman and General Manager on May 27, 2021, indicating a shift in leadership[129]. - The company has appointed several new directors and executives as part of its restructuring efforts, including Ding Feng as Vice General Manager[130]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on new product launches and market expansion strategies[137]. - The company aims to enhance its market presence through new product development and technology advancements in the renewable energy sector[132].