Group 1 - The company *ST Jinglan (000711.SZ) announced that its stock will be suspended for one day starting from September 5, 2025, and will resume trading on September 8, 2025 [1] - On September 8, 2025, the company will remove the delisting risk warning and some other risk warnings, changing its stock name from "*ST Jinglan" to "ST Jinglan," while the stock code remains "000711" [1] - The daily price fluctuation limit for the stock trading will still be set at 5% [1]

Core Viewpoint - The company *ST Jinglan will suspend trading on September 5 and resume on September 8, 2025, with the removal of delisting risk warnings and a change in stock abbreviation from "*ST Jinglan" to "ST Jinglan" [1] Summary by Relevant Sections - **Trading Suspension and Resumption** - The company's stock will be suspended for one day on September 5, 2025, and will resume trading on September 8, 2025 [1] - **Delisting Risk Warning** - The delisting risk warning and some other risk warnings will be removed on September 8, 2025 [1] - **Stock Abbreviation Change** - The stock abbreviation will change from "*ST Jinglan" to "ST Jinglan," while the stock code will remain "000711" [1] - **Price Limit** - The daily price fluctuation limit for stock trading will remain at 5% [1]

Group 1 - The company *ST Jinglan (000711) announced that its stock will be suspended from trading on September 5 and will resume trading on September 8, with the delisting risk warning and some other risk warnings being lifted [1] - The company's stock name will change from "*ST Jinglan" to "ST Jinglan" [1] - The daily price fluctuation limit for stock trading will remain at 5% [1]

（1）说明土壤修复运营服务业务、生态节水运营服务业务的开展情况，包括但 不限于业务实施主体、经营模式、结算方式、核心竞争力、人员结构等；园林环境科 技服务业务的开展情况，是否拟终止相关业务；2023 年度各业务前五大客户情况， 包括但不限于客户名称、定价依据及公允性、合同总额、当期收入确认金额、是否属 于你公司关联方；结合市场经营环境、行业发展状况、毛利率水平及同业务上市公司 业绩变动等，说明公司各业务的成长性，是否存在营业收入及毛利率持续下滑的风险， 1 关于深圳证券交易所 2023 年年报问询函回复的公告 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。 2024 年 5 月 14 日，京蓝科技股份有限公司（以下简称"公司"、"京蓝科技"、 "上市公司"）收到深圳证券交易所上市公司管理一部下发的《关于对京蓝科技股份 有限公司 2023 年年报的问询函》（公司部年报问询函〔2024〕第 129 号）（以下简 称"《问询函》"），收到《问询函》后公司董事会及管理层对所关注的事项高度重 视，积极组织中介机构及相关方就《问询函》所提及的问题进行认真分析、 论证。 ...

2.公司股票交易将于 2025 年 9 月 8 日（星期一）开市起撤销退市风险警示 及部分其他风险警示，证券简称由"*ST 京蓝"变更为"ST 京蓝"，股票代码仍 为"000711"，股票交易的日涨跌幅限制仍为 5%。 3.2025 年 7 月 8 日，公司收到中国证监会下发的《行政处罚事先告知书》 （处罚字〔2025〕3 号），根据《行政处罚事先告知书》认定的情况，公司控股 子公司中科鼎实环境工程有限公司为了实现业绩承诺,在"苏化 1 号"项目中原 位热脱附基础建设相关工程未施工情况下，通过虚假投入成本方式确认完工进度 虚增 2020 年收入、成本和利润，导致京蓝科技 2020 年年度报告存在虚假记载。 但未触及《深圳证券交易所股票上市规则》（2025 年修订）规定之重大违法强 制退市情形。根据相关规定，公司股票交易自 2025 年 7 月 9 日起被叠加实施其 他风险警示。 证券代码：000711 证券简称：*ST 京蓝 公告编号：2025-075 京蓝科技股份有限公司 关于撤销退市风险警示及部分其他风险警示并继续被实施其他风险 警示暨股票停复牌、变更公司简称的公告 本公司及董事会全体成员保证信息披露的内 ...

Part I Important Notice, Table of Contents, and Definitions [Important Notice](index=2&type=section&id=Important%20Notice) The board, supervisory board, and senior management guarantee the annual report's truthfulness and completeness, with the company planning no cash dividends or bonus shares - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the annual report content[4](index=4&type=chunk) - Company head Guo Shaozeng, chief accountant Gao Hong, and accounting department head Gao Hong declare the financial report is true, accurate, and complete[4](index=4&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[6](index=6&type=chunk) [Table of Contents](index=3&type=section&id=Table%20of%20Contents) This section outlines the annual report's ten main chapters, covering company operations, finance, governance, and social responsibility, along with reference documents - The report's table of contents includes ten main chapters, covering various aspects of the company's operations, finance, governance, and social responsibility[8](index=8&type=chunk) - Reference documents include signed and sealed financial statements, original audit reports, and publicly disclosed documents[10](index=10&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section defines key terms used in the report, including regulatory bodies, company entities, financial units, and the reporting period, for clarity - Definitions cover regulatory bodies, exchanges, the company and its main subsidiaries, controlling shareholders, and key transaction parties[12](index=12&type=chunk) - The reporting period is defined as January 1, 2021, to December 31, 2021[12](index=12&type=chunk) Part II Company Profile and Key Financial Indicators [I. Company Information](index=6&type=section&id=I.%20Company%20Information) Kingland Technology Co., Ltd. (stock code 000711) is legally represented by Guo Shaozeng, with its registered office in Harbin and main office in Beijing Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | Kingland Technology | | Stock Code | 000711 | | Listing Exchange | Shenzhen Stock Exchange | | Chinese Name | 京蓝科技股份有限公司 | | Legal Representative | Guo Shaozeng | | Registered Address | Nangang Economic and Technological Development Zone, Harbin, Heilongjiang Province | | Office Address | 4th Floor, Building B, Hongyuan Headquarters Plaza, Fengtai District, Beijing | | Company Website | http://www.kinglandgroup.com | | Email | securities@kinglandgroup.com | [II. Contact Person and Contact Information](index=6&type=section&id=II.%20Contact%20Person%20and%20Contact%20Information) Guo Shaozeng serves as the company's board secretary, sharing the same contact details as the company's main office Board Secretary Contact Information | Name | Guo Shaozeng | | :--- | :--- | | Contact Address | 4th Floor, Building B, Hongyuan Headquarters Plaza, Fengtai District, Beijing | | Phone | 010-64700268 | | Fax | 010-64700268 | | Email | securities@kinglandgroup.com | [III. Information Disclosure and Document Availability](index=6&type=section&id=III.%20Information%20Disclosure%20and%20Document%20Availability) The annual report is disclosed on Juchao Information Network and major securities newspapers, with physical copies available at the Board Secretary's Office - The company's annual report disclosure website is Juchao Information Network (http://www.cninfo.com.cn)[16](index=16&type=chunk) - Disclosure media include China Securities Journal, Securities Times, and Shanghai Securities News[16](index=16&type=chunk) - The company's annual report is available at the Board Secretary's Office[16](index=16&type=chunk) [IV. Registration Change Status](index=7&type=section&id=IV.%20Registration%20Change%20Status) The company's main business has diversified from high-tech to ecological environmental protection and soil remediation, with its controlling shareholder, Beijing Yangshu Lantian Investment Center, holding 16.68% of shares - The company's main business has undergone multiple transformations, from high-tech, tourism, real estate, and information technology, finally shifting to ecological environmental protection in 2016-2017, and expanding to soil remediation in 2018[17](index=17&type=chunk) - The controlling shareholder has changed multiple times; as of the end of the reporting period, Beijing Yangshu Lantian Investment Center (Limited Partnership) holds **16.68%** of the company's shares[17](index=17&type=chunk) [V. Other Relevant Information](index=7&type=section&id=V.%20Other%20Relevant%20Information) Zhongxingcai Guanghua Certified Public Accountants audited the company, with Huatai United Securities Co., Ltd. serving as financial advisor until December 31, 2021 Accounting Firm Information | Indicator | Content | | :--- | :--- | | Name | Zhongxingcai Guanghua Certified Public Accountants (Special General Partnership) | | Office Address | 24th Floor, Block A, Wantong Building, No. 2 Fuchengmenwai Street, Xicheng District, Beijing | | Signing Accountants | Li Xiaofei, Gao Tao | - The company appointed Huatai United Securities Co., Ltd. as its financial advisor, with the continuous supervision period ending on December 31, 2021[18](index=18&type=chunk) [VI. Key Accounting Data and Financial Indicators](index=8&type=section&id=VI.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In 2021, the company reported 901 million yuan in revenue, a **9.49% decrease**, and a net loss of **1.483 billion yuan**, a **38.18% reduction** in loss, with total assets and net assets declining 2021 Key Accounting Data and Financial Indicators | Indicator | 2021 | 2020 (Adjusted) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 900,915,302.39 | 995,410,211.62 | -9.49% | | Net Profit Attributable to Listed Company Shareholders (Yuan) | -1,483,433,591.44 | -2,399,698,095.52 | 38.18% | | Net Profit Attributable to Listed Company Shareholders Excluding Non-Recurring Gains and Losses (Yuan) | -1,500,866,940.58 | -2,440,142,895.01 | 38.49% | | Net Cash Flow from Operating Activities (Yuan) | 57,336,149.76 | 60,169,476.13 | -4.71% | | Basic Earnings Per Share (Yuan/Share) | -1.45 | -2.34 | 38.03% | | Diluted Earnings Per Share (Yuan/Share) | -1.45 | -2.34 | 38.03% | | Weighted Average Return on Net Assets | -102.25% | -69.79% | -45.85% | | Total Assets (Yuan) | 8,736,630,706.68 | 9,671,022,194.26 | -9.66% | | Net Assets Attributable to Listed Company Shareholders (Yuan) | 671,442,154.41 | 2,229,544,945.43 | -69.88% | - In 2020, Zhongke Dingzhi inflated operating revenue by **163 million yuan** and total profit by **66.3637 million yuan**, leading to retrospective adjustments for 2020 and 2021 related accounts[19](index=19&type=chunk) [VII. Differences in Accounting Data Under Domestic and International Accounting Standards](index=8&type=section&id=VII.%20Differences%20in%20Accounting%20Data%20Under%20Domestic%20and%20International%20Accounting%20Standards) The company reported no differences in net profit or net assets between domestic and international accounting standards during the period - The company's financial reports for the reporting period show no differences in net profit and net assets when disclosed under International Accounting Standards versus Chinese Accounting Standards[21](index=21&type=chunk) - The company's financial reports for the reporting period show no differences in net profit and net assets when disclosed under overseas accounting standards versus Chinese Accounting Standards[22](index=22&type=chunk) [VIII. Key Quarterly Financial Indicators](index=9&type=section&id=VIII.%20Key%20Quarterly%20Financial%20Indicators) The company's Q4 2021 operating revenue was 296 million yuan, with a significant net loss of **1.14 billion yuan** attributable to shareholders 2021 Key Quarterly Financial Indicators (Unit: Yuan) | Indicator | Q1 | Q2 | Q3 | Q4 | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 123,776,572.64 | 308,991,006.78 | 172,621,917.30 | 295,525,805.67 | | Net Profit Attributable to Listed Company Shareholders | -89,977,974.67 | -129,955,623.36 | -123,619,631.80 | -1,139,880,361.61 | | Net Profit Attributable to Listed Company Shareholders Excluding Non-Recurring Gains and Losses | -92,192,480.65 | -133,323,575.79 | -100,528,419.47 | -1,174,822,464.67 | | Net Cash Flow from Operating Activities | -30,124,848.00 | 45,560,641.93 | 42,843,299.49 | -942,943.66 | - In the fourth quarter, net profit attributable to listed company shareholders and net profit after deducting non-recurring gains and losses both showed significant losses, at **-1.14 billion yuan** and **-1.175 billion yuan**, respectively[24](index=24&type=chunk) [IX. Non-Recurring Gains and Losses Items and Amounts](index=9&type=section&id=IX.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Total non-recurring gains and losses in 2021 were **17.4333 million yuan**, mainly from asset disposal, government subsidies, and fair value changes 2021 Non-Recurring Gains and Losses Items and Amounts (Unit: Yuan) | Item | 2021 Amount | | :--- | :--- | | Disposal Gains and Losses on Non-Current Assets | 985,974.70 | | Government Subsidies Included in Current Profit and Loss | 3,789,662.23 | | Capital Occupation Fees Received from Non-Financial Enterprises Included in Current Profit and Loss | 14,209,351.44 | | Debt Restructuring Gains and Losses | 2,539,422.52 | | Reversal of Impairment Provisions for Receivables Subject to Individual Impairment Testing | 402,453.51 | | Fair Value Change Gains and Losses | 26,641,195.32 | | Other Non-Operating Income and Expenses Apart from the Above | -30,783,028.08 | | Less: Income Tax Impact | 31,162.13 | | Impact on Minority Interests (After Tax) | 320,520.37 | | Total | 17,433,349.14 | - Total non-recurring gains and losses in 2021 amounted to **17.4333 million yuan**, with fair value change gains and losses at **26.6412 million yuan**[25](index=25&type=chunk)[26](index=26&type=chunk) Part III Management Discussion and Analysis [I. Industry Overview During the Reporting Period](index=11&type=section&id=I.%20Industry%20Overview%20During%20the%20Reporting%20Period) The company operates in soil remediation, ecological water conservancy, and landscape environment sectors, all benefiting from policy support and market growth, despite facing various industry barriers [I. Soil Remediation Industry Analysis](index=11&type=section&id=I.%20Soil%20Remediation%20Industry%20Analysis) The soil remediation industry, driven by environmental policies, offers significant market potential but is characterized by high technical, qualification, funding, and management barriers - The soil remediation industry reduces soil pollutant concentrations to acceptable levels using physical, chemical, or biological methods[28](index=28&type=chunk) - The 'Soil Pollution Prevention and Control Law of the People's Republic of China,' effective January 1, 2019, clarifies responsibilities and promotes industry development[29](index=29&type=chunk) - Industry barriers include high technical thresholds, stringent multi-domain qualification requirements, large project capital investment with long payback periods, and a shortage of professional management talent[30](index=30&type=chunk)[31](index=31&type=chunk)[32](index=32&type=chunk)[33](index=33&type=chunk) [II. Ecological Water Conservancy Industry Analysis](index=12&type=section&id=II.%20Ecological%20Water%20Conservancy%20Industry%20Analysis) The ecological water conservancy industry, a growing interdisciplinary field, benefits from increasing national investment and social capital, with water-saving irrigation poised for a trillion-yuan market during the '14th Five-Year Plan' - The ecological water conservancy industry is an interdisciplinary field combining water conservancy engineering and ecological protection, studying water cycles, ecological carrying capacity, engineering ecological effects, and system management[37](index=37&type=chunk)[38](index=38&type=chunk) - The state highly values water conservancy construction, continuously expanding investment and introducing social capital for quasi-public and commercial water conservancy projects[40](index=40&type=chunk)[41](index=41&type=chunk)[44](index=44&type=chunk) - China's agricultural water use efficiency is low, creating vast market space for water-saving irrigation, with the ecological water conservancy industry market size projected to reach **trillions of yuan** during the '14th Five-Year Plan' period[45](index=45&type=chunk)[46](index=46&type=chunk) [III. Landscape Environment Industry Analysis](index=13&type=section&id=III.%20Landscape%20Environment%20Industry%20Analysis) The landscape environment industry, encompassing design, construction, and maintenance, is moving towards integrated, cross-regional, and resource-efficient ecological landscaping to enhance environmental quality - The landscape environment industry integrates design, planning, construction, and management art to create beneficial environments, primarily including landscape design, engineering construction, and greening maintenance[47](index=47&type=chunk) - Industry trends include integrated operations and cross-regional competition, with leading enterprises gaining larger market shares and increasing industry concentration[49](index=49&type=chunk) - Resource-efficient ecological landscaping is a future development direction, emphasizing ecological principles and the concepts of 'water saving, energy saving, and consumption reduction' to improve the ecological environment[50](index=50&type=chunk) - Soil remediation industry benefits from 'Soil Pollution Prevention and Control Law' policies, clarifying responsibilities, but faces technical, qualification, funding, and management barriers[29](index=29&type=chunk)[30](index=30&type=chunk)[31](index=31&type=chunk)[32](index=32&type=chunk)[33](index=33&type=chunk) - Ecological water conservancy industry sees expanding investment and social capital participation due to national emphasis, with urgent water-saving irrigation demand and a projected trillion-yuan market during the '14th Five-Year Plan'[40](index=40&type=chunk)[41](index=41&type=chunk)[44](index=44&type=chunk)[45](index=45&type=chunk)[46](index=46&type=chunk) - Landscape environment industry is evolving towards integrated operations, cross-regional competition, and resource-efficient ecological landscaping, leading to increased industry concentration[49](index=49&type=chunk)[50](index=50&type=chunk) [II. Company's Main Businesses During the Reporting Period](index=14&type=section&id=II.%20Company's%20Main%20Businesses%20During%20the%20Reporting%20Period) The company focuses on comprehensive soil environmental governance, ecological water conservancy, ecological environment, and smart ecology, primarily operating through general contracting and EPC project models - The company's business segments include comprehensive soil environmental governance, ecological water conservancy, ecological environment, and smart ecology, forming a positive synergy[51](index=51&type=chunk) - Comprehensive soil environmental governance is undertaken by Zhongke Dingzhi, providing full-process system services such as contaminated soil and groundwater remediation[51](index=51&type=chunk) - Ecological water conservancy business is undertaken by Kingland Muhe, offering integrated solutions for watershed ecological restoration, irrigation district water-saving systems, and wastewater treatment[52](index=52&type=chunk) - Ecological environment business is undertaken by Northern Landscape and others, providing services such as landscape engineering construction, landscape design, greening maintenance, and seedling cultivation and sales[53](index=53&type=chunk) - The company's primary operating models are general contracting and EPC projects, generating profits through progress payments and final settlements[53](index=53&type=chunk) [III. Core Competitiveness Analysis](index=15&type=section&id=III.%20Core%20Competitiveness%20Analysis) The company's core competitiveness stems from its mission, values, and strategy to be a leading ecological environment service provider, supported by over 300 patents, high-value qualifications, strategic alignment, and an experienced management team - The company's mission is 'Green Mountains, Clear Waters, Blue Skies, and a Century-Long Chinese Dream,' with 'Benevolence Like Water, Perseverance, and Virtue' as its core values[54](index=54&type=chunk) - The company's development strategy is to become a leading international 'ecological environment planning, investment, construction, and operation service provider'[54](index=54&type=chunk) - The company possesses core technologies in soil remediation, water treatment, and agricultural waste recycling, with over **300 national patents** and high-value qualifications such as Environmental Engineering Professional Contracting Grade A and Landscape Architecture Engineering Design Grade A[54](index=54&type=chunk) - The company's main businesses are in national strategic investment areas, with vast market potential in soil remediation and smart water conservancy, where the company holds leading advantages and competitive barriers[55](index=55&type=chunk) - The company's management and core team have over **10 years of experience** in ecological and information technology fields, possessing strong industry resource integration capabilities[55](index=55&type=chunk) [IV. Main Business Analysis](index=16&type=section&id=IV.%20Main%20Business%20Analysis) The company's diversified strategy focuses on four ecological business segments; 2021 revenue was 901 million yuan, down **9.49%**, with soil remediation growing **14.90%**, while expenses decreased and R&D increased [1. Overview](index=16&type=section&id=1.%20Overview) The company pursues a diversified strategy, combining organic growth and external expansion across four ecological business segments, with subsidiaries specializing in soil remediation, ecological water conservancy, and environmental services - The company combines organic growth with external expansion, focusing on four major business segments: industrial ecology, ecological water conservancy, ecological environment, and smart ecology[57](index=57&type=chunk) - Zhongke Dingzhi primarily engages in soil and groundwater remediation, offering 'water-soil co-governance' one-stop environmental remediation solutions, and actively participates in national/provincial-level scientific research projects[57](index=57&type=chunk)[58](index=58&type=chunk) - Kingland Muhe, positioned as an agricultural steward and ecological expert, provides integrated water ecosystem solutions for projects such as efficient water saving and water source construction[58](index=58&type=chunk) - The ecological environment segment, undertaken by Northern Landscape and Kingland Environmental Technology, provides services such as landscape engineering construction and design, and increases investment in core soil remediation technology development[59](index=59&type=chunk) [2. Revenue and Costs](index=17&type=section&id=2.%20Revenue%20and%20Costs) In 2021, total operating revenue was 901 million yuan, down **9.49%**, with soil remediation revenue up **14.90%** to 791 million yuan, while total operating costs decreased by **35.06%** 2021 Operating Revenue Composition (Unit: Yuan) | By Industry | 2021 Amount | Proportion of Operating Revenue | 2020 Amount | Proportion of Operating Revenue | Year-on-Year Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Total Operating Revenue | 900,915,302.39 | 100% | 995,410,211.62 | 100% | -9.49% | | Ecological Water-Saving Operation Services | 88,541,888.21 | 9.83% | 225,519,519.92 | 22.66% | -60.74% | | Soil Remediation Operation Services | 791,257,202.15 | 87.83% | 688,652,906.71 | 69.18% | 14.90% | 2021 Operating Cost Composition (Unit: Yuan) | Industry Category | 2021 Amount | Proportion of Operating Cost | 2020 Amount | Proportion of Operating Cost | Year-on-Year Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Ecological Water-Saving Operation Services | 135,452,726.34 | 19.48% | 421,206,683.23 | 39.33% | -67.84% | | Soil Remediation Operation Services | 542,801,138.58 | 78.05% | 452,829,189.52 | 42.29% | 19.87% | - Operating revenue in East China increased by **67.32%** year-on-year, South China by **151.65%**, and Southwest China by **237.57%**[61](index=61&type=chunk) - During the reporting period, the company deregistered Zhongke Dingzhi (Yichun) Environmental Sanitation Services Co., Ltd., reducing the scope of consolidation by one entity[67](index=67&type=chunk) [3. Expenses](index=20&type=section&id=3.%20Expenses) In 2021, selling and administrative expenses decreased by **52.06%** and **44.89%** respectively due to efficiency, while R&D expenses increased by **39.74%** 2021 Major Expense Changes (Unit: Yuan) | Item | 2021 | 2020 | Year-on-Year Change | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | | Selling Expenses | 44,718,420.30 | 93,275,196.77 | -52.06% | Due to company's staff reduction and efficiency improvement, and cost cutting | | Administrative Expenses | 171,502,359.42 | 311,186,989.24 | -44.89% | Due to company's staff reduction and efficiency improvement, and cost cutting | | Financial Expenses | 654,528,411.97 | 638,639,261.89 | 2.49% | | | R&D Expenses | 38,967,224.02 | 27,886,486.05 | 39.74% | Due to increased R&D investment by the company | [4. R&D Investment](index=21&type=section&id=4.%20R%26D%20Investment) R&D investment in 2021 reached **38.9672 million yuan**, a **39.74% increase**, focusing on soil remediation and water-saving irrigation technologies, despite a decrease in R&D personnel 2021 R&D Investment Status | Indicator | 2021 | 2020 | Change Ratio | | :--- | :--- | :--- | :--- | | R&D Investment Amount (Yuan) | 38,967,224.02 | 27,886,486.05 | 39.74% | | R&D Investment as % of Operating Revenue | 4.33% | 2.80% | 1.53% | | Number of R&D Personnel (Persons) | 73 | 120 | -39.17% | - The company undertakes multiple national-level scientific research projects in soil remediation, such as coking site pollution control, pesticide industry site odor removal, complex organic pollution site remediation, and heavy metal pollution control in old industrial bases in Northeast China[72](index=72&type=chunk)[73](index=73&type=chunk)[74](index=74&type=chunk)[75](index=75&type=chunk) - In water-saving irrigation, the company develops solar-powered automatic control gates, nano-modified PE pipes, and drip irrigation tape application formulas to enhance product performance and market competitiveness[75](index=75&type=chunk)[76](index=76&type=chunk) [5. Cash Flow](index=26&type=section&id=5.%20Cash%20Flow) In 2021, net cash flow from operating activities was **57.3361 million yuan**, down **4.71%**, while investing activities turned positive, and financing activities significantly decreased due to loan repayments 2021 Cash Flow Status (Unit: Yuan) | Item | 2021 | 2020 | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Subtotal Cash Inflow from Operating Activities | 1,040,045,451.03 | 1,567,203,809.99 | -33.64% | | Subtotal Cash Outflow from Operating Activities | 982,709,301.27 | 1,507,034,333.86 | -34.79% | | Net Cash Flow from Operating Activities | 57,336,149.76 | 60,169,476.13 | -4.71% | | Subtotal Cash Inflow from Investing Activities | 40,325,008.46 | 37,246,064.01 | 8.27% | | Subtotal Cash Outflow from Investing Activities | 25,279,772.27 | 171,942,435.63 | -85.30% | | Net Cash Flow from Investing Activities | 15,045,236.19 | -134,696,371.62 | 111.17% | | Subtotal Cash Inflow from Financing Activities | 1,038,385,972.18 | 1,944,661,089.67 | -46.60% | | Subtotal Cash Outflow from Financing Activities | 1,245,022,604.40 | 1,848,043,526.36 | -32.63% | | Net Cash Flow from Financing Activities | -206,636,632.22 | 96,617,563.31 | -313.87% | | Net Increase in Cash and Cash Equivalents | -134,255,246.27 | 22,090,667.82 | -707.75% | - The decrease in net cash flow from operating activities was mainly due to a significant decline in operating revenue, but the company intensified collection efforts[78](index=78&type=chunk) - The positive shift in net cash flow from investing activities was primarily due to reduced purchases of fixed assets, intangible assets, other long-term assets, and investments[79](index=79&type=chunk) - The significant decrease in net cash flow from financing activities was mainly due to the repayment of some matured loans during the period[79](index=79&type=chunk) - The company's core business focuses on industrial ecology, ecological water conservancy, ecological environment, and smart ecology, providing full project cycle integrated solutions[57](index=57&type=chunk) 2021 Operating Revenue Composition (Unit: Yuan) | By Industry | 2021 Amount | Proportion of Operating Revenue | 2020 Amount | Proportion of Operating Revenue | Year-on-Year Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Total Operating Revenue | 900,915,302.39 | 100% | 995,410,211.62 | 100% | -9.49% | | Ecological Water-Saving Operation Services | 88,541,888.21 | 9.83% | 225,519,519.92 | 22.66% | -60.74% | | Landscape Environmental Technology Services | 7,486,261.81 | 0.83% | 60,328,661.70 | 6.06% | -87.59% | | Soil Remediation Operation Services | 791,257,202.15 | 87.83% | 688,652,906.71 | 69.18% | 14.90% | | Other Industries | 13,629,950.22 | 1.51% | 20,909,123.29 | 2.10% | -34.81% | 2021 Major Expenses (Unit: Yuan) | Item | 2021 | 2020 | Year-on-Year Change | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | | Selling Expenses | 44,718,420.30 | 93,275,196.77 | -52.06% | Due to company's staff reduction and efficiency improvement, and cost cutting | | Administrative Expenses | 171,502,359.42 | 311,186,989.24 | -44.89% | Due to company's staff reduction and efficiency improvement, and cost cutting | | R&D Expenses | 38,967,224.02 | 27,886,486.05 | 39.74% | Due to increased R&D investment by the company | 2021 Cash Flow Status (Unit: Yuan) | Item | 2021 | 2020 | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 57,336,149.76 | 60,169,476.13 | -4.71% | | Net Cash Flow from Investing Activities | 15,045,236.19 | -134,696,371.62 | 111.17% | | Net Cash Flow from Financing Activities | -206,636,632.22 | 96,617,563.31 | -313.87% | [V. Non-Core Business Analysis](index=27&type=section&id=V.%20Non-Core%20Business%20Analysis) Non-core businesses significantly impacted 2021 profit, with **921 million yuan** in asset impairment losses, representing **56.55%** of total profit, and **26.6412 million yuan** from fair value changes, both unsustainable 2021 Impact of Non-Core Business on Total Profit (Unit: Yuan) | Item | Amount | Proportion of Total Profit | Explanation of Cause | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | -1,162,294.80 | 0.07% | Investment in associates | Yes | | Fair Value Change Gains and Losses | 26,641,195.32 | -1.64% | Performance guarantee share settlement | No | | Asset Impairment | -921,022,485.07 | 56.55% | Impairment of goodwill, inventories, and accounts receivable | No | | Non-Operating Income | 839,215.89 | -0.05% | | No | | Non-Operating Expenses | 31,019,382.66 | -1.90% | | No | - Asset impairment losses amounted to **921 million yuan**, accounting for **56.55%** of total profit, primarily due to impairment of goodwill, inventories, and accounts receivable, which is not sustainable[81](index=81&type=chunk) - Fair value change gains and losses amounted to **26.6412 million yuan**, resulting from performance guarantee share settlement, which is not sustainable[81](index=81&type=chunk) [VI. Analysis of Assets and Liabilities](index=27&type=section&id=VI.%20Analysis%20of%20Assets%20and%20Liabilities) At year-end 2021, total assets were **8.737 billion yuan**, down **9.66%**, with notable changes in cash, fixed assets, and debt, and **1.32 billion yuan** in fair value financial assets, while some assets are restricted 2021 Year-End Significant Changes in Asset Composition (Unit: Yuan) | Item | 2021 Year-End Amount | Proportion of Total Assets | 2021 Beginning-of-Year Amount | Proportion of Total Assets | Proportion Change | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 98,575,149.66 | 1.13% | 321,412,946.15 | 3.31% | -2.18% | Due to the combined impact of cash flows from operating, investing, and financing activities | | Contract Assets | 2,763,992,124.37 | 31.64% | 2,940,657,649.19 | 30.25% | 1.39% | Mainly due to impairment of contract assets | | Fixed Assets | 349,982,970.32 | 4.01% | 414,091,713.16 | 4.26% | -0.25% | Mainly due to the combined impact of fixed asset purchases and depreciation | | Short-Term Borrowings | 1,598,093,696.74 | 18.29% | 1,649,970,966.15 | 16.97% | 1.32% | Mainly due to changes in financing structure | | Contract Liabilities | 660,637,343.91 | 7.56% | 613,379,042.15 | 6.31% | 1.25% | Mainly due to an increase in advance payments for project progress | | Bonds Payable | 136,050,000.00 | 1.56% | 260,772,000.00 | 2.68% | -1.12% | Repayment of matured bonds | 2021 Year-End Assets and Liabilities Measured at Fair Value (Unit: Yuan) | Item | Beginning Balance | Fair Value Change Gains and Losses for the Period | Accumulated Fair Value Changes Recognized in Equity | Ending Balance | | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | | 26,641,195.32 | | 26,641,195.32 | | Other Equity Instrument Investments | 1,367,480,064.70 | | -74,101,043.89 | 1,293,379,020.81 | | Subtotal Financial Assets | 1,367,480,064.70 | 26,641,195.32 | -74,101,043.89 | 1,320,020,216.13 | - The company's assets are subject to restrictions such as mortgages, pledges, and freezes; details are provided in the financial report notes[87](index=87&type=chunk) [VII. Investment Analysis](index=29&type=section&id=VII.%20Investment%20Analysis) The company's 2021 investment was **390,000 yuan**, a **99.69% decrease**, with no major new investments, and some previously funded projects failing to meet expectations or being closed 2021 Investment Amount Changes | Indicator | Investment Amount for the Reporting Period (Yuan) | Investment Amount for the Same Period Last Year (Yuan) | Change Rate | | :--- | :--- | :--- | :--- | | Investment Amount | 390,000.00 | 127,424,300.00 | -99.69% | - The company's raised funds were primarily used for transaction consideration, intermediary fees, smart ecological cloud platform, smart sprinkler production, efficient water-saving new material R&D, smart efficient agricultural water-saving projects, and supplementing Muhe's working capital[93](index=93&type=chunk) - The project for annual production of **600 large smart sprinklers** and the smart efficient agricultural water-saving project did not achieve planned progress or expected returns[93](index=93&type=chunk) - The efficient water-saving new material R&D and pilot production project was closed due to market demand and actual investment indicating difficulty in achieving expected benefits[94](index=94&type=chunk) - The company previously used idle raised funds to temporarily supplement working capital, which has since been fully repaid or permanently converted to working capital[94](index=94&type=chunk)[95](index=95&type=chunk) [VIII. Significant Asset and Equity Sales](index=32&type=section&id=VIII.%20Significant%20Asset%20and%20Equity%20Sales) The company did not engage in any significant asset or equity sales during the reporting period - The company did not sell any significant assets during the reporting period[98](index=98&type=chunk) - The company did not sell any significant equity during the reporting period[99](index=99&type=chunk) [IX. Analysis of Major Holding and Participating Companies](index=33&type=section&id=IX.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) Major subsidiaries Kingland Muhe and Northern Landscape reported net losses of **668 million yuan** and **229 million yuan** respectively in 2021, while the deregistration of Zhongke Dingzhi (Yichun) had minimal impact Financial Status of Major Holding Subsidiaries (Unit: Yuan) | Company Name | Company Type | Registered Capital | Total Assets | Net Assets | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Kingland Muhe Water-Saving Equipment Co., Ltd. | Subsidiary | 1.04 billion | 4,741,488,425.91 | 1,205,257,530.63 | 101,857,502.55 | -668,307,044.59 | -667,923,142.91 | | Kingland Northern Landscape (Tianjin) Co., Ltd. | Subsidiary | 109 million | 1,951,077,172.20 | -609,730,443.67 | 7,486,261.81 | -220,258,579.49 | -228,586,246.03 | - During the reporting period, the company deregistered Zhongke Dingzhi (Yichun) Environmental Sanitation Services Co., Ltd., which did not significantly impact production, operations, or performance[102](index=102&type=chunk) [X. Information on Structured Entities Controlled by the Company](index=35&type=section&id=X.%20Information%20on%20Structured%20Entities%20Controlled%20by%20the%20Company) The company did not control any structured entities during the reporting period - The company did not control any structured entities during the reporting period[103](index=103&type=chunk) [XI. Outlook on the Company's Future Development](index=35&type=section&id=XI.%20Outlook%20on%20the%20Company's%20Future%20Development) Facing external challenges, the company leverages core technologies and a diversified 'solution + investment and operation' strategy across four ecological business segments, with plans for rural revitalization, market expansion, and strategic partnerships, while addressing organizational and financial risks - The company faces external challenges such as economic development pressure from international and domestic uncertainties, rising construction costs, and order disruptions[103](index=103&type=chunk) - The company's internal strengths include core technologies, over **300 national patents**, multiple high-value qualifications, and an 'industry-university-research' collaboration model[104](index=104&type=chunk) - The company's development strategy is to maintain diversification, adopting a 'solution + investment and operation' model, focusing on four major business segments, aiming to become a leading international ecological environment service provider[105](index=105&type=chunk) - Operating plans include developing rural revitalization industries (e.g., soil remediation, water-saving irrigation), strengthening management, expanding markets, and introducing strategic investors (e.g., Xinjiang Water Conservancy Investment Holding Co., Ltd.)[105](index=105&type=chunk)[106](index=106&type=chunk)[107](index=107&type=chunk) - The company faces risks from organizational adjustments, intensified industry competition, and funding, with countermeasures including improving the industrial chain, resource integration, accounts receivable collection, industrial fund cooperation, and capital market refinancing[108](index=108&type=chunk) [XII. Activities such as Research, Communication, and Interviews During the Reporting Period](index=36&type=section&id=XII.%20Activities%20such%20as%20Research,%20Communication,%20and%20Interviews%20During%20the%20Reporting%20Period) The company did not engage in any research, communication, or interview activities during the reporting period - The company did not engage in any activities such as research, communication, or interviews during the reporting period[109](index=109&type=chunk) Part IV Corporate Governance [I. Basic Status of Corporate Governance](index=37&type=section&id=I.%20Basic%20Status%20of%20Corporate%20Governance) The company strictly adheres to laws and regulations, continuously improving its corporate governance and internal control systems to ensure standardized operations and protect shareholder rights, with no significant discrepancies from regulatory requirements - The company strictly adheres to laws and regulations such as the 'Company Law' and 'Securities Law,' continuously improving its corporate governance structure and internal control system[111](index=111&type=chunk) - The company strengthens the responsibilities of the general meeting of shareholders, board of directors, supervisory board, and management, ensuring the right to know, participate, and vote for all shareholders[111](index=111&type=chunk) - The company strictly implements information disclosure rules, ensuring truthfulness, accuracy, completeness, timeliness, and fairness, and actively enhances communication with investors[112](index=112&type=chunk) - The actual state of corporate governance has no significant discrepancies with laws and regulations[112](index=112&type=chunk) [II. Company's Independence from Controlling Shareholder and Actual Controller in Terms of Assets, Personnel, Finance, Organization, and Business](index=37&type=section&id=II.%20Company's%20Independence%20from%20Controlling%20Shareholder%20and%20Actual%20Controller%20in%20Terms%20of%20Assets,%20Personnel,%20Finance,%20Organization,%20and%20Business) The company maintains full independence from its controlling shareholder and actual controller across business, personnel, assets, finance, and organization, ensuring autonomous operations and no horizontal competition - The company's business is completely independent of the controlling shareholder, actual controller, and their affiliates, operating autonomously with no horizontal competition[113](index=113&type=chunk) - The company's personnel are independent, and senior management does not hold positions other than director in the controlling shareholder's entities[113](index=113&type=chunk) - The company's assets are independent, complete, and clearly owned, not being gratuitously occupied or controlled by the controlling shareholder, actual controller, or their affiliates[113](index=113&type=chunk) - The company's finances are independent, with a sound and independent financial accounting system, independent taxation, and accounting personnel not holding concurrent positions in the controlling shareholder's entities[113](index=113&type=chunk)[114](index=114&type=chunk) - The company's organizations are independent, with the board of directors, supervisory board, and other internal organizations operating independently and exercising management rights autonomously[114](index=114&type=chunk) [III. Horizontal Competition](index=38&type=section&id=III.%20Horizontal%20Competition) The company did not experience any horizontal competition during the reporting period - The company did not experience any horizontal competition during the reporting period[115](index=115&type=chunk) [IV. Information on Annual General Meetings and Extraordinary General Meetings Held During the Reporting Period](index=38&type=section&id=IV.%20Information%20on%20Annual%20General%20Meetings%20and%20Extraordinary%20General%20Meetings%20Held%20During%20the%20Reporting%20Period) In 2021, the company held 11 extraordinary and 1 annual general meeting, deliberating on articles of association, board elections, and related party transactions, with all resolutions promptly disclosed - During the 2021 reporting period, the company held **11 extraordinary general meetings** and **1 annual general meeting**[115](index=115&type=chunk)[116](index=116&type=chunk)[117](index=117&type=chunk) - Meeting deliberations included revisions to the articles of association, re-election of the board of directors, and related party transactions; all meetings were convened according to prescribed procedures and resolutions were disclosed[115](index=115&type=chunk)[116](index=116&type=chunk)[117](index=117&type=chunk) [V. Information on Directors, Supervisors, and Senior Management](index=40&type=section&id=V.%20Information%20on%20Directors,%20Supervisors,%20and%20Senior%20Management) The company's board, supervisory board, and senior management saw multiple changes, with current leadership including Chairman Guo Shaozeng, and total remuneration for the period amounting to **4.9949 million yuan** - During the reporting period, there were multiple changes among the company's directors, supervisors, and senior management, including the departure of directors Jiang Lizhe, Liu Xin, Chen Fangqing, Zhu Jiang; supervisors Meng Chen, Yang Dehui; and the termination of senior management Guo Yuanyuan, Liu Xin, Tian Xiaonan[122](index=122&type=chunk)[123](index=123&type=chunk)[124](index=124&type=chunk) - The current Chairman and President is Guo Shaozeng, Executive Vice President is Han Zhiquan, Vice Presidents include Han Shiying, Wang Haidong, Feng Yulu, Li Guirong, Dong Chunyu, and the Chief Financial Officer is Gao Hong[125](index=125&type=chunk)[126](index=126&type=chunk)[127](index=127&type=chunk)[128](index=128&type=chunk)[129](index=129&type=chunk)[130](index=130&type=chunk) - Some directors, supervisors, and senior management hold concurrent positions in other entities, such as Guo Shaozeng at Rongtong Capital and Qingshanghui, and Yan Tao at Wanhui Investment[130](index=130&type=chunk)[131](index=131&type=chunk) 2021 Remuneration of Directors, Supervisors, and Senior Management (Unit: 10,000 Yuan) | Name | Position | Employment Status | Total Pre-Tax Remuneration from the Company | | :--- | :--- | :--- | :--- | | Yang Rengui | Chairman | Departed | 60 | | Yan Tao | Director | Appointed/Dismissed | 0 | | Jiang Lizhe | Director, Executive President | Departed | 11.11 | | Han Zhiquan | Director, Executive Vice President | Current | 62.88 | | Liu Xin | Director, Vice President, Board Secretary | Departed | 27.56 | | Hao Xin | Director, President | Departed | 96.55 | | Chen Fangqing | Independent Director | Departed | 0 | | Nie Xingkai | Independent Director | Departed | 12 | | Zhu Jiang | Independent Director | Departed | 12 | | Zhou Jianmin | Independent Director | Current | 0 | | Yin Zhoucheng | Chairman of Supervisory Board | Departed | 6 | | Meng Chen | Supervisor | Departed | 0 | | Yang Dehui | Employee Representative Supervisor | Departed | 24.68 | | Wang Yue | Employee Representative Supervisor | Current | 14.57 | | Zhang Haiyan | Supervisor | Current | 1 | | Guo Yuanyuan | Vice President | Departed | 23.2 | | Feng Yulu | Vice President | Current | 55.17 | | Wuliji | Vice President | Departed | 0 | | Yin Xiaodong | Vice President | Departed | 0 | | Li Guirong | Vice President | Current | 0 | | Liang Jin | Chief Financial Officer | Departed | 56.56 | | Tian Xiaonan | Board Secretary | Departed | 36.21 | | Total | -- | -- | 499.49 | [VI. Performance of Directors' Duties During the Reporting Period](index=49&type=section&id=VI.%20Performance%20of%20Directors'%20Duties%20During%20the%20Reporting%20Period) The board held 18 meetings, diligently deliberating key proposals, actively monitoring operations, and ensuring decisions considered minority shareholder interests, with no objections raised by directors - During the reporting period, the company's board of directors held **18 meetings**, deliberating on important proposals such as annual report auditing, re-appointment of accounting firms, and internal control self-evaluation reports[135](index=135&type=chunk)[136](index=136&type=chunk)[137](index=137&type=chunk) - All directors diligently performed their duties, actively monitored the company's operations and financial status, attended meetings on time, and offered advice for the company's business development[140](index=140&type=chunk) - Board decisions fully considered the interests of minority shareholders, enhancing decision-making scientificity and promoting the company's continuous healthy development[140](index=140&type=chunk) - No objections were raised by directors regarding company matters during the reporting period[139](index=139&type=chunk) [VII. Status of Board's Special Committees During the Reporting Period](index=52&type=section&id=VII.%20Status%20of%20Board's%20Special%20Committees%20During%20the%20Reporting%20Period) The board's Strategy, Audit, Nomination, and Remuneration Committees all fulfilled their duties, holding meetings to deliberate on strategic plans, financial reports, personnel appointments, and remuneration policies, with all proposals approved - The Strategy Committee held **1 meeting** to deliberate on the company's annual development strategy and operating plan[141](index=141&type=chunk) - The Audit Committee held **3 meetings** to deliberate on the 2020 annual report audit, re-appointment of accounting firms, internal control self-evaluation report, and 2020 financial report[141](index=141&type=chunk) - The Nomination Committee held **2 meetings** to deliberate on the appointment of the board secretary and the election of independent directors[141](index=141&type=chunk)[142](index=142&type=chunk) - The Remuneration and Appraisal Committee held **1 meeting** to deliberate on the company's 2021 remuneration policy[142](index=142&type=chunk) - All important opinions and suggestions put forward by the special committees were approved, with no dissenting matters[141](index=141&type=chunk)[142](index=142&type=chunk) [VIII. Work of the Supervisory Board](index=53&type=section&id=VIII.%20Work%20of%20the%20Supervisory%20Board) The supervisory board found no risks during its supervision activities and raised no objections to the supervised matters - The supervisory board found no risks in the company's supervision activities during the reporting period[143](index=143&type=chunk) - The supervisory board raised no objections to the supervised matters during the reporting period[143](index=143&type=chunk) [IX. Company Employee Information](index=53&type=section&id=IX.%20Company%20Employee%20Information) As of year-end, the company had **591 employees**, primarily administrative, with **73 R&D personnel**, and a majority holding bachelor's or master's degrees, supported by a remuneration policy and continuous training 2021 Year-End Employee Count and Composition | Indicator | Number (Persons) | | :--- | :--- | | Total Number of Employees at Period-End | 591 | | Production Personnel | 49 | | Sales Personnel | 56 | | Technical Personnel | 55 | | Financial Personnel | 40 | | Administrative Personnel | 233 | | Other | 158 | | Doctorate | 14 | | Master's | 113 | | Bachelor's | 227 | | Associate Degree | 137 | | Other Education Levels | 100 | - The company's remuneration policy consists of position-based salaries and performance-based wages, determined by employee attendance, work completion, and appraisal results[146](index=146&type=chunk) - In 2021, the company conducted micro-classroom training to enhance employees' professional skills and comprehensive quality[147](index=147&type=chunk) [X. Company Profit Distribution and Capital Reserve to Share Capital Conversion](index=54&type=section&id=X.%20Company%20Profit%20Distribution%20and%20Capital%20Reserve%20to%20Share%20Capital%20Conversion) The company did not adjust its profit distribution policy and plans no cash dividends, bonus shares, or capital reserve conversions for the year - The company did not formulate, implement, or adjust its profit distribution policy during the reporting period[148](index=148&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the year[148](index=148&type=chunk) [XI. Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=54&type=section&id=XI.%20Implementation%20of%20Equity%20Incentive%20Plans,%20Employee%20Stock%20Ownership%20Plans,%20or%20Other%20Employee%20Incentive%20Measures) The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures and their implementation during the reporting period[149](index=149&type=chunk) [XII. Construction and Implementation of Internal Control System During the Reporting Period](index=54&type=section&id=XII.%20Construction%20and%20Implementation%20of%20Internal%20Control%20System%20During%20the%20Reporting%20Period) The company established an effective internal control structure, revising key systems, standardizing transactions, and providing training, with no significant internal control deficiencies found during the reporting period - The company established an internal control organizational structure comprising the general meeting of shareholders, board of directors, supervisory board, management, and various holding subsidiaries[151](index=151&type=chunk) - During the reporting period, the 'Articles of Association' and other systems were revised to standardize related party transactions, external guarantees, asset disposals, and ensure timely information disclosure[151](index=151&type=chunk) - The company organized regulatory training for directors, supervisors, and senior management to enhance their awareness of standardized operations[151](index=151&type=chunk) - No significant internal control deficiencies were found during the reporting period[152](index=152&type=chunk) [XIII. Management and Control of Subsidiaries During the Reporting Period](index=55&type=section&id=XIII.%20Management%20and%20Control%20of%20Subsidiaries%20During%20the%20Reporting%20Period) The company had no special remarks regarding subsidiary management and control during the reporting period and encountered no integration issues - The company had no special remarks regarding the management and control of its subsidiaries during the reporting period and encountered no integration issues[152](index=152&type=chunk) [XIV. Internal Control Self-Evaluation Report or Internal Control Audit Report](index=55&type=section&id=XIV.%20Internal%20Control%20Self-Evaluation%20Report%20or%20Internal%20Control%20Audit%20Report) The company's internal control evaluation report, covering 100% of assets and revenue, was disclosed on April 28, 2022, with the auditor issuing an unqualified opinion, consistent with the board's self-evaluation - The company's internal control evaluation report was disclosed on April 28, 2022, covering **100%** of the company's total assets and operating revenue[153](index=153&type=chunk) - Internal control deficiency identification standards include qualitative and quantitative criteria for financial and non-financial reporting[153](index=153&type=chunk)[154](index=154&type=chunk) - Zhongxingcai Guanghua Certified Public Accountants issued a standard unqualified internal control audit report, stating that the company maintained effective internal controls over financial reporting in all material respects[155](index=155&type=chunk) - The internal control audit report was consistent with the board's self-evaluation report, finding no significant non-financial reporting deficiencies[155](index=155&type=chunk) [XV. Rectification of Self-Inspected Issues from Special Action on Listed Company Governance](index=57&type=section&id=XV.%20Rectification%20of%20Self-Inspected%20Issues%20from%20Special%20Action%20on%20Listed%20Company%20Governance) The company had no rectification of self-inspected issues from special action on listed company governance during the reporting period - The company had no rectification of self-inspected issues from special action on listed company governance during the reporting period[156](index=156&type=chunk) Part V Environmental and Social Responsibility [I. Significant Environmental Issues](index=58&type=section&id=I.%20Significant%20Environmental%20Issues) The company and its subsidiaries are not key polluting units, received no environmental penalties, and did not disclose carbon reduction measures during the reporting period - The company and its subsidiaries are not classified as key polluting units by environmental protection authorities[158](index=158&type=chunk) - No administrative penalties for environmental issues were received during the reporting period[158](index=158&type=chunk) - Measures taken to reduce carbon emissions and their effects were not disclosed[158](index=158&type=chunk) [II. Social Responsibility](index=58&type=section&id=II.%20Social%20Responsibility) The company protects shareholder rights through robust governance and disclosure, safeguards employee rights with legal compliance and training, and upholds business ethics to foster win-win relationships with customers and suppliers - The company effectively protects the legitimate rights and interests of all shareholders, especially minority investors, by improving governance structure, providing diverse voting methods, and separate vote counting[158](index=158&type=chunk) - The company safeguards employees' legitimate rights and interests in accordance with laws and regulations such as the 'Labor Law,' emphasizing employee training to enhance professional literacy and comprehensive quality[159](index=159&type=chunk) - The company strictly adheres to business ethics, acts with integrity, protects customer and supplier interests, actively resolves project issues, and seeks win-win development for both parties[159](index=159&type=chunk) [III. Consolidation and Expansion of Poverty Alleviation Achievements and Rural Revitalization](index=58&type=section&id=III.%20Consolidation%20and%20Expansion%20of%20Poverty%20Alleviation%20Achievements%20and%20Rural%20Revitalization) The company has not yet undertaken poverty alleviation or rural revitalization initiatives during the reporting period - The company has not yet carried out poverty alleviation and rural revitalization work during the reporting period[160](index=160&type=chunk) Part VI Significant Events [I. Fulfillment of Commitments](index=59&type=section&id=I.%20Fulfillment%20of%20Commitments) Most commitments made during share reform and asset restructuring, covering independence, competition, and related party transactions, are ongoing, with some fulfilled, but an overdue performance compensation commitment exists - Multiple commitments were made by the company's actual controller, shareholders, related parties, and the company during share reform, acquisition reports, and asset restructuring, covering independence, avoiding horizontal competition, standardizing and reducing related party transactions, and avoiding fund occupation[162](index=162&type=chunk)[163](index=163&type=chunk)[164](index=164&type=chunk)[165](index=165&type=chunk)[166](index=166&type=chunk)[167](index=167&type=chunk)[168](index=168&type=chunk)[169](index=169&type=chunk)[170](index=170&type=chunk)[171](index=171&type=chunk)[172](index=172&type=chunk)[173](index=173&type=chunk) - Most commitments are long-term and ongoing, while some share lock-up and information truthfulness commitments have been fulfilled[162](index=162&type=chunk)[163](index=163&type=chunk)[164](index=164&type=chunk)[165](index=165&type=chunk)[166](index=166&type=chunk)[167](index=167&type=chunk)[168](index=168&type=chunk)[169](index=169&type=chunk)[170](index=170&type=chunk)[171](index=171&type=chunk)[172](index=172&type=chunk)[173](index=173&type=chunk) - There is an overdue performance compensation commitment, such as the performance compensation for Northern Landscape by Northern Group and Beikong Consulting[165](index=165&type=chunk) - Whether the company's commitments were fulfilled on time: No[173](index=173&type=chunk) [II. Non-Operating Fund Occupation by Controlling Shareholder and Other Related Parties](index=70&type=section&id=II.%20Non-Operating%20Fund%20Occupation%20by%20Controlling%20Shareholder%20and%20Other%20Related%20Parties) The company had no non-operating fund occupation by its controlling shareholder or other related parties during the reporting period - The company had no non-operating fund occupation by its controlling shareholder or other related parties during the reporting period[174](index=174&type=chunk) [III. Irregular External Guarantees](index=70&type=section&id=III.%20Irregular%20External%20Guarantees) The company had no irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[175](index=175&type=chunk) [IV. Board of Directors' Explanation on the Latest 'Non-Standard Audit Report'](index=70&type=section&id=IV.%20Board%20of%20Directors'%20Explanation%20on%20the%20Latest%20%22Non-Standard%20Audit%20Report%22) The company had no board of directors' explanation on the latest 'non-standard audit report' during the reporting period - The company had no board of directors' explanation on the latest 'non-standard audit report' during the reporting period[176](index=176&type=chunk) [V. Explanations by the Board of Directors, Supervisory Board, and Independent Directors (if any) on the Accounting Firm's 'Non-Standard Audit Report' for the Current Period](index=70&type=section&id=V.%20Explanations%20by%20the%20Board%20of%20Directors,%20Supervisory%20Board,%20and%20Independent%20Directors%20(if%20any)%20on%20the%20Accounting%20Firm's%20%22Non-Standard%20Audit%20Report%22%20for%20the%20Current%20Period) The company had no explanations from the board, supervisory board, or independent directors regarding the accounting firm's 'non-standard audit report' for the current period - The company had no explanations from the board of directors, supervisory board, or independent directors regarding the accounting firm's 'non-standard audit report' for the current period[176](index=176&type=chunk) [VI. Explanation of Changes in Accounting Policies, Accounting Estimates, or Significant Accounting Error Corrections Compared to the Previous Year's Financial Report](index=70&type=section&id=VI.%20Explanation%20of%20Changes%20in%20Accounting%20Policies,%20Accounting%20Estimates,%20or%20Significant%20Accounting%20Error%20Corrections%20Compared%20to%20the%20Previous%20Year's%20Financial%20Report) Effective January 1, 2021, the company adopted new leasing standards, retrospectively adjusting opening consolidated financial statements, impacting right-of-use assets, lease liabilities, and other related accounts - Effective January 1, 2021, the company adopted new leasing standards, adjusting relevant items in the opening financial statements based on the cumulative impact of initial application[176](index=176&type=chunk) Impact of Adopting New Leasing Standards on 2021 Opening Consolidated Statement Items (Unit: Yuan) | Statement Item | December 31, 2020 | January 1, 2021 | Impact Amount | | :--- | :--- | :--- | :--- | | Right-of-Use Assets | | 68,997,200.85 | 68,997,200.85 | | Fixed Assets | 432,297,833.39 | 414,091,713.16 | -18,206,120.23 | | Long-Term Deferred Expenses | 3,697,800.00 | 3,334,400.00 | -363,400.00 | | Lease Liabilities | | 53,944,842.64 | 53,944,842.64 | | Long-Term Payables | 60,745,941.35 | 58,000,000.00 | -2,745,941.35 | | Retained Earnings | -2,992,645,533.44 | -2,993,244,889.13 | -599,355.69 | | Minority Interests | 393,605,930.27 | 393,434,065.29 | -171,864.98 | [VII. Explanation of Changes in Consolidation Scope Compared to the Previous Year's Financial Report](index=71&type=section&id=VII.%20Explanation%20of%20Changes%20in%20Consolidation%20Scope%20Compared%20to%20the%20Previous%20Year's%20Financial%20Report) In 2021, the company's consolidation scope decreased by one entity to 46 subsidiaries, primarily due to the deregistration of Zhongke Dingzhi (Yichun) Environmental Sanitation Services Co., Ltd - The company's consolidation scope for 2021 included **46 subsidiaries**, a decrease of **1** from the previous period[178](index=178&type=chunk) - The subsidiary deregistered in this period was Zhongke Dingzhi (Yichun) Environmental Sanitation Services Co., Ltd[178](index=178&type=chunk) [VIII. Appointment and Dismissal of Accounting Firms](index=71&type=section&id=VIII.%20Appointment%20and%20Dismissal%20of%20Accounting%20Firms) Zhongxingcai Guanghua Certified Public Accountants serves as the company's domestic accounting firm for the seventh consecutive year, with a remuneration of **1.05 million yuan**, and was also appointed for the 2021 internal control audit Current Accounting Firm Information | Indicator | Content | | :--- | :--- | | Name of Domestic Accounting Firm | Zhongxingcai Guanghua Certified Public Accountants (Special General Partnership) | | Remuneration of Domestic Accounting Firm (10,000 Yuan) | 105 | | Consecutive Years of Audit Service by Domestic Accounting Firm | 7 Years | | Names of Certified Public Accountants at Domestic Accounting Firm | Li Xiaofei, Gao Tao | - The company did not change its accounting firm during the reporting period[179](index=179&type=chunk) - The company appointed Zhongxingcai Guanghua Certified Public Accountants as its internal control audit firm for 2021, with a fee of **600,000 yuan**[179](index=179&type=chunk) [IX. Delisting Risk After Annual Report Disclosure](index=71&type=section&id=IX.%20Delisting%20Risk%20After%20Annual%20Report%20Disclosure) The company did not face delisting risk after the annual report disclosure during the reporting period - The company did not face delisting risk after the annual report disclosure during the reporting period[180](index=180&type=chunk) [X. Bankruptcy and Reorganization Matters](index=72&type=section&id=X.%20Bankruptcy%20and%20Reorganization%20Matters) The company had no bankruptcy and reorganization matters during the reporting period - The company had no bankruptcy and reorganization matters during the reporting period[181](index=181&type=chunk) [XI. Significant Litigation and Arbitration Matters](index=72&type=section&id=XI.%20Significant%20Litigation%20and%20Arbitration%20Matters) The company is involved in multiple significant litigations, including a **72.0878 million yuan** performance compensation lawsuit for Northern Landscape and **97 pending lawsuits** as a defendant totaling **746 million yuan** - Due to the failure to meet performance commitments for the acquisition of Northern Landscape, the company sued Northern Municipal, Gao Xuegang, and others, with the court ruling that the defendants fulfill compensation obligations, involving **72.0878 million yuan**[182](index=182&type=chunk) - This performance compensation lawsuit impacted 2021 total profit and net profit by **26.6412 million yuan**, and 2022 Q1 total profit and net profit by **5.2124 million yuan**[182](index=182&type=chunk) - Northern Landscape was sued by Tianjin Binhai Rural Commercial Bank for failing to repay a loan, involving **23.4 million yuan**, and has received a civil judgment[184](index=184&type=chunk) - The company is a defendant in **97 pending lawsuits**, with a total amount of **745.53015834 million yuan**[185](index=185&type=chunk) - The company is actively resolving various litigation matters, but the specific impact of some matters on subsequent period profits cannot yet be determined[185](index=185&type=chunk) [XII. Penalties and Rectification](index=75&type=section&id=XII.%20Penalties%20and%20Rectification) The company had no penalties or rectification during the reporting period - The company had no penalties or rectification during the reporting period[186](index=186&type=chunk) [XIII. Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=75&type=section&id=XIII.%20Integrity%20Status%20of%20the%20Company,%20its%20Controlling%20Shareholder,%20and%20Actual%20Controller) The company and its actual controller, Guo Shaozeng, are listed as dishonest judgment debtors in multiple cases for failing to fulfill legal obligations, which may negatively impact the company's image but has not substantially affected operations Company and Actual Controller Listed as Dishonest Judgment Debtors | Debtor | Enforcement Court | Case Filing Date | Case Number | Fulfillment Status | Specific Circumstances of Dishonest Debtor Behavior | | :--- | :--- | :--- | :--- | :--- | :--- | | Kingland Technology, Kingland Northern, Guo Shaozeng | Tianjin Third Intermediate People's Court | January 27, 2021 | (2021) Jin 03 Zhi 134 Hao | All Unfulfilled | Violation of property reporting system | | Kingland Technology, Guo Shaozeng | Nanjing Gulou District People's Court | July 27, 2021 | (2021) Su 0106 Zhi 6057 Hao | All Unfulfilled | Ability to fulfill but refused to fulfill oblig

[Part I Important Notice, Table of Contents, and Definitions](index=2&type=section&id=Part%20I%20Important%20Notice%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides crucial disclaimers, the report's comprehensive table of contents, and definitions of key terms for clarity [Important Notice](index=2&type=section&id=Important%20Notice) The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the annual report, noting risks in competition, funding, and talent development, and no dividend distribution plan - The company's board of directors, supervisory board, and senior management guarantee the **truthfulness, accuracy, and completeness** of the annual report content[3](index=3&type=chunk) - The company plans **not to distribute cash dividends, bonus shares, or convert capital reserves into share capital**[5](index=5&type=chunk) - Key risks include **intensified industry competition**, **significant capital demand and long operating cycles** in the ecological environment industry, and **rapidly increasing demand for core talent** with diverse backgrounds[4](index=4&type=chunk) [Table of Contents](index=3&type=section&id=Table%20of%20Contents) This section presents the complete directory structure of the annual report, covering all chapters from important notices to financial reports and reference documents, providing readers with the overall framework of the report - The report's table of contents comprises **thirteen sections**, covering core content such as company profile, business overview, operational analysis, significant events, and financial reports[8](index=8&type=chunk) [Definitions](index=4&type=section&id=Definitions) This section provides definitions for common terms and company-related entities used in the report, ensuring accurate understanding of the content - The report clearly defines key entities such as the **China Securities Regulatory Commission (CSRC), Shenzhen Stock Exchange, Jinglan Technology, controlling shareholder Yangshu Lantian, Jinglan Holdings, and its main subsidiaries**[10](index=10&type=chunk) [Part II Company Profile and Key Financial Indicators](index=5&type=section&id=Part%20II%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section outlines the company's fundamental information, historical business changes, and a comprehensive overview of its key financial performance and position over recent periods [I. Company Information](index=5&type=section&id=I.%20Company%20Information) This section provides the company's basic registration information, stock code, listing exchange, legal representative, registered and office addresses, company website, and email contact details - The company's stock abbreviation is **'Jinglan Technology'**, stock code **000711**, listed on the **Shenzhen Stock Exchange**[12](index=12&type=chunk) - The legal representative is **Yang Rengui**, with the registered address in Harbin, Heilongjiang Province, and the office address in Chaoyang District, Beijing[12](index=12&type=chunk) [II. Contact Persons and Information](index=5&type=section&id=II.%20Contact%20Persons%20and%20Information) This section lists the names, contact addresses, telephone numbers, fax numbers, and email addresses of the company's board secretary and securities affairs representative, facilitating communication for investors and relevant parties - The Board Secretary is **Liu Xin**, and the Securities Affairs Representative is **Tian Xiaonan**, both with contact information at the Beijing office address[13](index=13&type=chunk) [III. Information Disclosure and Document Availability](index=5&type=section&id=III.%20Information%20Disclosure%20and%20Document%20Availability) This section specifies the company's designated information disclosure media, the CSRC-designated website, and the location where the annual report is available for inspection - The company's designated information disclosure media are **China Securities Journal, Securities Times, and Shanghai Securities News**, with the designated website being **Juchao Information Network (http://www.cninfo.com.cn)**[14](index=14&type=chunk) [IV. Registration Changes](index=6&type=section&id=IV.%20Registration%20Changes) This section reviews the company's significant business adjustments and changes in controlling shareholders since its listing, reflecting its strategic transformation history - The company's main business has undergone multiple adjustments, from high-tech products and real estate to information system integration, eventually transitioning to focus on **ecological and environmental protection businesses (ecological water saving, landscape environment, soil remediation)** between 2016 and 2018[15](index=15&type=chunk) - Controlling shareholders have changed multiple times, with **Yangshu Lantian becoming the largest shareholder in 2016**, holding **16.68%** of shares at the end of the reporting period[15](index=15&type=chunk) [V. Other Relevant Information](index=6&type=section&id=V.%20Other%20Relevant%20Information) This section discloses information about the accounting firm engaged by the company, the names of its signing accountants, and the financial advisor responsible for continuous supervision during the reporting period - The company engaged **Zhongxingcai Guanghua Certified Public Accountants (Special General Partnership)** for auditing, with **Wang Fengqi and Zhang Mengyong** as the signing accountants[16](index=16&type=chunk) - During the reporting period, **Huatai United Securities Co., Ltd.** served as the financial advisor, fulfilling continuous supervision duties[16](index=16&type=chunk) [VI. Key Accounting Data and Financial Indicators](index=6&type=section&id=VI.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) This section presents the company's key accounting data and financial indicators for the past three years (2018-2020), showing a significant decline in operating revenue and net profit in 2020, but a positive net cash flow from operating activities 2018-2020 Key Accounting Data and Financial Indicators | Indicator | 2020 | 2019 | YoY Change | 2018 | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 995,410,211.62 | 1,901,408,713.75 | -47.65% | 2,490,857,777.77 | | Net Profit Attributable to Listed Company Shareholders (RMB) | -2,399,698,095.52 | -1,036,745,832.56 | -131.46% | 102,535,975.63 | | Net Cash Flow from Operating Activities (RMB) | 60,169,476.13 | -88,641,195.85 | 167.88% | -843,379,277.69 | | Basic Earnings Per Share (RMB/share) | -2.34 | -1.03 | -127.18% | 0.12 | | Weighted Average Return on Net Assets | -69.79% | -22.11% | -47.68% | 2.39% | | Total Assets (RMB) | 9,671,022,194.26 | 12,118,205,650.23 | -20.19% | 10,994,938,944.75 | | Net Assets Attributable to Listed Company Shareholders (RMB) | 2,229,544,945.43 | 4,635,903,674.91 | -51.91% | 4,343,418,610.61 | - The company's net profit, whichever is lower before and after deducting non-recurring gains and losses, has been **negative for the past three fiscal years**[19](index=19&type=chunk) [VII. Differences in Accounting Data Under Domestic and International Accounting Standards](index=7&type=section&id=VII.%20Differences%20in%20Accounting%20Data%20Under%20Domestic%20and%20International%20Accounting%20Standards) This section states that during the reporting period, there were no differences in net profit and net assets between financial reports disclosed under International Accounting Standards or overseas accounting standards and Chinese Accounting Standards - During the reporting period, the company had **no differences in net profit and net assets** between financial reports disclosed under International Accounting Standards and Chinese Accounting Standards[20](index=20&type=chunk) - During the reporting period, the company had **no differences in net profit and net assets** between financial reports disclosed under overseas accounting standards and Chinese Accounting Standards[21](index=21&type=chunk) [VIII. Quarterly Key Financial Indicators](index=8&type=section&id=VIII.%20Quarterly%20Key%20Financial%20Indicators) This section presents the company's 2020 quarterly operating revenue, net profit attributable to listed company shareholders, net profit after deducting non-recurring gains and losses, and net cash flow from operating activities, showing a significant net loss in the fourth quarter 2020 Quarterly Key Financial Indicators | Indicator | Q1 | Q2 | Q3 | Q4 | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 158,573,159.16 | 143,222,311.86 | 259,655,768.26 | 433,958,972.34 | | Net Profit Attributable to Listed Company Shareholders (RMB) | -49,845,783.85 | -243,664,863.58 | -143,622,647.95 | -1,962,564,800.14 | | Net Cash Flow from Operating Activities (RMB) | -75,736,894.26 | -112,978,694.35 | 182,154,744.59 | 66,730,320.15 | [IX. Non-Recurring Gains and Losses Items and Amounts](index=8&type=section&id=IX.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) This section details the company's non-recurring gains and losses items and amounts for the past three years (2018-2020), with a total of 40.44 million RMB in non-recurring gains and losses in 2020 2018-2020 Non-Recurring Gains and Losses Items and Amounts | Item | 2020 Amount (RMB) | 2019 Amount (RMB) | 2018 Amount (RMB) | | :--- | :--- | :--- | :--- | | Non-current asset disposal gains and losses | 79,144.33 | 18,792,269.73 | 14,984,143.92 | | Government grants recognized in current profit or loss | 3,966,846.03 | 8,681,570.64 | 6,120,463.44 | | Fund occupation fees received from non-financial enterprises recognized in current profit or loss | 15,836,442.08 | 25,288,811.71 | 15,087,337.48 | | Reversal of impairment provisions for accounts receivable and contract assets subject to individual impairment testing | 34,106,598.96 | 0.00 | 0.00 | | Other non-operating income and expenses apart from the above | 4,897,346.67 | -16,856,444.28 | -1,958,642.37 | | Less: Income tax impact | 6,236,347.98 | 4,321,541.56 | 4,970,883.34 | | Minority interest impact (after tax) | 12,205,230.60 | 4,555,633.09 | 1,257,471.61 | | Total | 40,444,799.49 | 27,029,033.15 | 28,070,417.04 | [Part III Company Business Overview](index=9&type=section&id=Part%20III%20Company%20Business%20Overview) This section outlines the company's core business segments, significant asset changes, and key competitive advantages, highlighting its strategic focus and market position [I. Main Businesses During the Reporting Period](index=9&type=section&id=I.%20Main%20Businesses%20During%20the%20Reporting%20Period) During the reporting period, the company's main businesses covered four segments: industrial ecology, ecological water conservancy, ecological environment, and smart ecology, with soil remediation being the primary revenue source, accounting for 69.18% of total revenue, utilizing various operating models such as general contracting, EPC, and PPP - The company's main business segments include **industrial ecology, ecological water conservancy, ecological environment, and smart ecology**, forming a virtuous complementary relationship[27](index=27&type=chunk) - In 2020, operating revenue was **995.41 million RMB**, primarily from **soil remediation business**, which generated **688.65 million RMB**, accounting for **69.18% of total revenue**[27](index=27&type=chunk)[28](index=28&type=chunk) - Ecological water conservancy operation services generated **225.52 million RMB** (22.66% of total revenue), while other business segments (e.g., landscape engineering) generated **60.33 million RMB** (6.06% of total revenue)[29](index=29&type=chunk)[30](index=30&type=chunk) - The company's operating models primarily include **general contracting, EPC projects, and PPP projects**[31](index=31&type=chunk) [II. Significant Changes in Major Assets](index=10&type=section&id=II.%20Significant%20Changes%20in%20Major%20Assets) This section explains significant changes in the company's major assets during the reporting period, including the reasons for variations in equity investments, fixed assets, and intangible assets - The increase in equity investments was primarily due to the **combined effect of increased investments in equity-accounted companies and decreased net profit/loss of investees**[33](index=33&type=chunk) - Changes in fixed assets were mainly due to the **combined effect of former subsidiary Jinglan Yunzhi IoT Technology Co., Ltd. no longer being consolidated, new fixed asset purchases, and depreciation accruals**[33](index=33&type=chunk) - The increase in intangible assets was primarily due to **more project companies having concession rights with uncertain revenue amounts**[33](index=33&type=chunk) [III. Analysis of Core Competitiveness](index=10&type=section&id=III.%20Analysis%20of%20Core%20Competitiveness) The company's core competitiveness lies in its long-term corporate mission, positive core values, clear development strategy, comprehensive functional division, excellent financial and industrial integration capabilities, strong management team and industry resource integration, robust R&D and independent innovation capabilities, and promising market outlook - The company's mission is **'Green Mountains, Clear Waters, Blue Skies, Enduring China Dream,'** aiming to become a leading international **'ecological environment planning, investment, construction, and operation service provider'**[34](index=34&type=chunk) - The company enhances its smart ecological industry chain through **mergers and acquisitions**, achieving resource integration and improving risk resistance and operational efficiency[35](index=35&type=chunk) - The company possesses multiple **core technologies (soil remediation, water body treatment, agricultural waste recycling)**, **232 invention and utility model patents**, **68 software copyrights**, and operates **academician and postdoctoral workstations**[36](index=36&type=chunk) - The company's main business is in a **national strategic investment priority area**, with **huge market potential in soil remediation and smart water conservancy**, giving it a leading industry advantage and competitive barriers[37](index=37&type=chunk) [Part IV Management Discussion and Analysis](index=12&type=section&id=Part%20IV%20Management%20Discussion%20and%20Analysis) This section provides an in-depth analysis of the company's operational performance, financial position, and investment activities, highlighting key business segments, asset and liability changes, and future development strategies [I. Overview](index=12&type=section&id=I.%20Overview) During the reporting period, the company pursued a diversified development strategy, combining organic growth with external expansion, focusing on four business segments: industrial ecology, ecological water conservancy, ecological environment, and smart ecology; in 2020, operating revenue and net profit significantly declined due to the pandemic and macroeconomic factors, total assets decreased mainly due to goodwill impairment, and total liabilities increased primarily due to financing needs - The company's core business focuses on **four major segments: industrial ecology, ecological water conservancy, ecological environment, and smart ecology**, providing integrated solutions[39](index=39&type=chunk) - The industrial ecology segment (**Zhongke Dingshi**) enhanced its ecological environment layout through acquisitions, gaining **'water and soil co-governance' capabilities** and winning bids for multiple soil and groundwater remediation projects[40](index=40&type=chunk) - The ecological water conservancy segment (**Jinglan Muhe**) deepened its positioning as an **'agricultural steward, ecological expert,'** providing comprehensive solutions for efficient water saving and water source construction, and signing strategic cooperation agreements[41](index=41&type=chunk) - The ecological environment segment (**Beifang Yuanlin, Jinglan Environmental Technology, etc.**) increased soil remediation technology development, won rural revitalization projects, and signed strategic cooperation agreements[42](index=42&type=chunk) 2020 Operating Performance and Asset Status | Indicator | 2020 Amount (RMB 10,000) | YoY Change (RMB 10,000) | Change Ratio | | :--- | :--- | :--- | :--- | | Operating Revenue | 99,541.02 | -90,599.85 | -47.65% | | Net Profit Attributable to Listed Company Shareholders | -239,969.81 | -136,295.23 | -131.46% | | Total Assets (Year-End 2020) | 967,102.22 | -244,718.35 | -20.19% | | Total Liabilities (Year-End 2020) | 704,787.13 | 20,304.42 | 2.97% | - The significant decline in performance was mainly due to the **COVID-19 pandemic, macroeconomic conditions, and changes in the financial environment**, leading to slower project progress, reduced operating revenue, and decreased profit; the decrease in total assets was primarily due to **goodwill impairment**; the increase in total liabilities was mainly due to **increased external financing to meet operating capital needs**[44](index=44&type=chunk) [II. Main Business Analysis](index=13&type=section&id=II.%20Main%20Business%20Analysis) This section details the company's main business revenue and cost structure, including operating revenue and gross profit margins by industry, product, and region; in 2020, ecological water saving and landscape environment business revenues significantly declined, while soil remediation revenue slightly increased; R&D investment decreased year-on-year, but the company still possesses multiple core technologies and research platforms in environmental remediation 2020 Operating Revenue Composition (by Industry) | Industry | 2020 Amount (RMB) | Proportion of Operating Revenue | 2019 Amount (RMB) | Proportion of Operating Revenue | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Ecological Water-Saving Operation Services | 225,519,519.92 | 22.66% | 1,058,342,650.57 | 55.66% | -78.69% | | Landscape Environmental Technology Services | 60,328,661.70 | 6.06% | 153,724,453.24 | 8.08% | -60.76% | | Soil Remediation Operation Services | 688,652,906.71 | 69.18% | 671,511,136.75 | 35.32% | 2.55% | | Other Industries | 20,909,123.29 | 2.10% | 17,830,473.19 | 0.94% | 17.27% | 2020 Operating Revenue and Cost (by Industry) | Industry | Operating Revenue (RMB) | Operating Cost (RMB) | Gross Profit Margin | YoY Change in Operating Revenue | YoY Change in Operating Cost | YoY Change in Gross Profit Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Ecological Water-Saving Operation Services | 225,519,519.92 | 421,206,683.23 | -86.77% | -78.69% | -47.18% | -111.43% | | Soil Remediation Operation Services | 688,652,906.71 | 452,829,189.52 | 34.24% | 2.55% | 4.13% | -1.00% | 2020 Expense Situation | Item | 2020 (RMB) | 2019 (RMB) | YoY Change | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | | Selling Expenses | 93,275,196.77 | 69,806,287.96 | 33.62% | Due to increased efforts in collections, higher personnel salaries from sales collection policies, and increased agency service fees | | Administrative Expenses | 311,186,989.24 | 289,921,906.39 | 7.33% | Due to controlled expense outlays and increased agency service fees | | Financial Expenses | 638,639,261.89 | 340,587,187.43 | 87.51% | Primarily due to increased interest from changes in financing structure | | R&D Expenses | 27,886,486.05 | 45,572,033.90 | -38.81% | Due to reduced R&D investment | - The company's subsidiary **Zhongke Dingshi possesses core soil remediation technologies** such as thermal desorption, ambient temperature desorption, and solidification/stabilization, and participates in multiple national/provincial-level scientific research projects[57](index=57&type=chunk)[60](index=60&type=chunk)[61](index=61&type=chunk)[62](index=62&type=chunk)[63](index=63&type=chunk)[64](index=64&type=chunk) 2020 R&D Investment | Indicator | 2020 | 2019 | YoY Change | | :--- | :--- | :--- | :--- | | Number of R&D Personnel (people) | 120 | 159 | -24.53% | | R&D Investment Amount (RMB) | 27,886,486.05 | 45,572,033.90 | -38.81% | | R&D Investment as % of Operating Revenue | 2.80% | 2.40% | 0.40% | 2020 Cash Flow | Item | 2020 (RMB) | 2019 (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 60,169,476.13 | -88,641,195.85 | 167.88% | | Net Cash Flow from Investing Activities | -134,696,371.62 | -131,707,822.40 | -2.27% | | Net Cash Flow from Financing Activities | 96,617,563.31 | 25,110,334.27 | 284.77% | | Net Increase in Cash and Cash Equivalents | 22,090,667.82 | -195,238,683.98 | 111.31% | [III. Non-Core Business Analysis](index=19&type=section&id=III.%20Non-Core%20Business%20Analysis) This section analyzes the impact of non-core businesses on total profit, with asset impairment being the primary factor, accounting for 52.36% of total profit, mainly due to goodwill, long-term assets, and inventory impairment 2020 Impact of Non-Core Businesses on Total Profit | Item | Amount (RMB) | Proportion of Total Profit | Explanation of Cause | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | -1,176,371.29 | 0.05% | | Yes | | Asset Impairment | -1,334,086,677.94 | 52.36% | Goodwill, long-term assets, and inventory impairment | No | | Non-operating Income | 7,622,908.40 | -0.30% | | No | | Non-operating Expenses | 2,163,047.76 | -0.08% | | No | [IV. Analysis of Assets and Liabilities](index=20&type=section&id=IV.%20Analysis%20of%20Assets%20and%20Liabilities) This section analyzes the composition and significant changes in the company's assets and liabilities; at the end of 2020, both total assets and net assets attributable to listed company shareholders decreased, the liability structure changed, and both short-term and long-term borrowings increased Significant Changes in Asset Composition at Year-End 2020 | Major Asset | 2020 Year-End Amount (RMB) | Proportion of Total Assets | 2020 Year-Beginning Amount (RMB) | Proportion of Total Assets | Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 321,412,946.15 | 3.32% | 383,372,540.97 | 3.16% | 0.16% | Due to the combined impact of cash flows from operating, investing, and financing activities | | Accounts Receivable | 1,279,570,429.23 | 13.23% | 1,966,154,875.23 | 16.22% | -2.99% | Primarily due to enhanced collection efforts for engineering projects across business segments and impairment of receivables | | Inventories | 789,118,010.73 | 8.16% | 680,900,264.45 | 5.62% | 2.54% | Primarily due to increased contract performance costs and decreased raw materials and inventory goods | | Long-Term Equity Investments | 7,860,758.11 | 0.08% | 5,514,569.40 | 0.05% | 0.03% | Due to the combined impact of increased investments in equity-accounted companies and decreased net profit/loss of investees | | Fixed Assets | 432,297,833.39 | 4.47% | 406,028,004.92 | 3.35% | 1.12% | Primarily due to former subsidiary Jinglan Yunzhi IoT Technology Co., Ltd. no longer being consolidated, new fixed asset purchases, and depreciation accruals | | Short-Term Borrowings | 1,649,970,966.15 | 17.06% | 1,728,798,522.72 | 14.27% | 2.79% | Primarily due to changes in financing structure | | Long-Term Borrowings | 586,600,000.00 | 6.07% | 149,771,608.59 | 1.24% | 4.83% | Primarily due to changes in financing structure | | Contract Assets | 2,940,657,649.19 | 30.41% | 3,203,726,524.07 | 26.44% | 3.97% | Primarily due to contract asset impairment | - As of the end of the reporting period, the company's major assets were **not subject to seizure or detention**, with detailed information on asset mortgages, pledges, and freezes provided in the financial report notes[73](index=73&type=chunk) [V. Investment Status](index=21&type=section&id=V.%20Investment%20Status) This section outlines the company's investment activities during the reporting period, showing a significant year-on-year decrease in total investment; it discloses major equity investments, including in Hangzhou Zhenfu Investment Management Partnership, and details the use of raised funds, noting that some projects did not meet planned progress or expected returns, but the company has taken measures for adjustment and closure Investment Amount During Reporting Period | Indicator | Investment Amount During Reporting Period (RMB) | Investment Amount in Prior Period (RMB) | Change Rate | | :--- | :--- | :--- | :--- | | Total Investment Amount | 127,424,300.00 | 1,338,943,169.88 | -90.48% | - During the reporting period, the company made an equity investment of **113.32 million RMB** in **Hangzhou Zhenfu Investment Management Partnership (Limited Partnership)**, holding a **74.71% stake**[75](index=75&type=chunk) Status of Committed Projects Funded by Raised Capital (Partial) | Committed Investment Project | Adjusted Total Investment (RMB 10,000) | Cumulative Investment at Period-End (RMB 10,000) | Investment Progress at Period-End | Project Achieved Expected Benefits | | :--- | :--- | :--- | :--- | :--- | | Cash consideration for this transaction | 47,300 | 47,300 | 100.00% | Not applicable | | Jinglan Smart Ecological Cloud Platform Project | 10,232 | 5,204.7 | 50.87% | Not applicable | | Annual production of 600 large intelligent sprinkler irrigation machines project | 5,920.71 | 5,864.65 | 99.05% | No | | Smart high-efficiency agricultural water-saving project | 65,000 | 65,028.7 | 100.04% | No | - The **annual production of 600 large intelligent sprinkler irrigation machines project** and the **smart high-efficiency agricultural water-saving project** did not meet planned progress or expected returns, primarily due to **market environment changes, design modifications, stricter environmental policies, and insufficient construction time**[80](index=80&type=chunk) - The **Jinglan Smart Ecological Cloud Platform project**, through cooperation with Alibaba Cloud, significantly **reduced costs and accelerated R&D speed**, achieving expected implementation results and project closure[81](index=81&type=chunk) [VI. Significant Asset and Equity Sales](index=25&type=section&id=VI.%20Significant%20Asset%20and%20Equity%20Sales) This section states that the company did not have any significant asset or equity sales during the reporting period - The company **did not sell significant assets** during the reporting period[83](index=83&type=chunk) - The company **did not sell significant equity** during the reporting period[84](index=84&type=chunk) [VII. Analysis of Major Holding and Participating Companies](index=26&type=section&id=VII.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) This section analyzes the financial status and operating results of the company's major subsidiaries, Jinglan Muhe Water-Saving Equipment Co., Ltd. and Jinglan Beifang Yuanlin (Tianjin) Co., Ltd., and discloses the acquisition and disposal of subsidiaries during the reporting period Major Holding Subsidiary Financial Data (2020) | Company Name | Total Assets (RMB) | Net Assets (RMB) | Operating Revenue (RMB) | Operating Profit (RMB) | Net Profit (RMB) | | :--- | :--- | :--- | :--- | :--- | :--- | | Jinglan Muhe Water-Saving Equipment Co., Ltd. | 5,371,396,025.40 | 1,873,180,673.54 | 222,229,887.71 | -753,057,707.68 | -762,846,136.42 | | Jinglan Beifang Yuanlin (Tianjin) Co., Ltd. | 2,035,922,583.73 | -382,059,965.67 | 60,328,661.70 | -407,295,725.06 | -398,719,029.48 | - During the reporting period, the company **established Jinglan Environmental Technology (Chengdu) Co., Ltd. and Chifeng Muhe Hotel Co., Ltd.**, and **deregistered 3 subsidiaries**, including Jinglan Muhe Julu Tiantiantong Agricultural Water Supply Co., Ltd.[87](index=87&type=chunk) [VIII. Structured Entities Controlled by the Company](index=28&type=section&id=VIII.%20Structured%20Entities%20Controlled%20by%20the%20Company) This section states that the company did not control any structured entities during the reporting period - The company **did not control any structured entities** during the reporting period[88](index=88&type=chunk) [IX. Outlook on Company's Future Development](index=28&type=section&id=IX.%20Outlook%20on%20Company%27s%20Future%20Development) The company's future outlook analyzes external factors (pandemic impact and 'new infrastructure' opportunities) and internal strengths (R&D, qualifications, strategic partnerships); it will adhere to a diversified development strategy, focusing on comprehensive ecological environment governance through organic growth and external expansion, with detailed operational plans for synergistic development across business segments and strengthened internal management to address competition, funding, and talent risks - The **COVID-19 pandemic in 2020 significantly impacted the progress and collection of the company's engineering projects**, but domestic epidemic prevention and control achieved remarkable results, with the central government introducing multiple financial support policies and **'new infrastructure' development opportunities**[87](index=87&type=chunk)[88](index=88&type=chunk) - The company's internal strengths include **R&D capabilities** through cooperation with research institutes and universities (**core technologies in soil remediation, water body treatment**), **multiple high-value qualifications**, and **strategic partnerships with enterprises and institutions**[89](index=89&type=chunk) - The company's development strategy is to adhere to **diversification**, leverage capital market advantages, combine organic growth with external expansion, build a **'solution + investment and operation' business model**, and become a leading international ecological environment service provider[91](index=91&type=chunk) - Operational plans include: **Jinglan Muhe** strengthening market development, risk control, refined management, and talent cultivation; **Zhongke Dingshi** promoting qualification upgrades, market expansion, financial compliance, and technology R&D; **Jinglan Environmental** deepening market expansion, comprehensive budget management, and business contract management; **Jinglan Yuanlin** establishing regional marketing and production models, and implementing project manager contracting[92](index=92&type=chunk)[93](index=93&type=chunk)[94](index=94&type=chunk) - The management headquarters will **enhance internal control compliance**, **improve capital and budget management**, **strengthen human resource development**, **perfect management systems**, and actively **explore domestic and international markets**[95](index=95&type=chunk) - Potential risks and countermeasures: **competition risk** (improving industry chain, external growth), **funding risk** (refinancing, industrial funds, strengthening management), **core talent cultivation risk** (detailed HR system, optimizing structure, improving incentives)[96](index=96&type=chunk) [X. Reception of Research, Communication, Interview, and Other Activities](index=30&type=section&id=X.%20Reception%20of%20Research%2C%20Communication%2C%20Interview%2C%20and%20Other%20Activities) This section discloses the company's reception of investor research and communication activities during the reporting period, including 36 phone communications with individual investors, primarily discussing company operations, project progress, fulfillment of compensation obligations, and future development plans, without disclosing undisclosed material information Reception of Research, Communication, Interview, and Other Activities During Reporting Period | Reception Date | Reception Method | Type of Recipient | Recipient | Main Topics Discussed and Materials Provided | Number of Receptions | Number of Individuals Received | Undisclosed Material Information Disclosed, Revealed, or Leaked | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | November 20, 2020 | Phone Communication | Individual | Investor | Company operations, project progress, fulfillment of compensation obligations, future development plans, etc.; no materials provided | 36 | 36 | No | [Part V Significant Events](index=31&type=section&id=Part%20V%20Significant%20Events) This section details the company's profit distribution plans, fulfillment of commitments, major litigation, and other significant events, providing insights into corporate governance and material developments [I. Profit Distribution of Ordinary Shares and Capital Reserve Conversion to Share Capital](index=31&type=section&id=I.%20Profit%20Distribution%20of%20Ordinary%20Shares%20and%20Capital%20Reserve%20Conversion%20to%20Share%20Capital) This section discloses the company's ordinary share dividend distribution plans for the past three years (2018-2020), all of which involve no cash dividends, bonus shares, or conversion of capital reserves into share capital - The company planned **no cash dividends, bonus shares, or conversion of capital reserves into share capital** for the 2018, 2019, and 2020 fiscal years[99](index=99&type=chunk) Company's Cash Dividend Distribution for Ordinary Shares in the Past Three Years | Dividend Year | Cash Dividend Amount (incl. tax) (RMB) | Net Profit Attributable to Ordinary Shareholders of Listed Company (RMB) | Ratio of Cash Dividend Amount to Net Profit Attributable to Ordinary Shareholders of Listed Company in Consolidated Statements | | :--- | :--- | :--- | :--- | | 2020 | 0.00 | -2,354,850,607.11 | 0.00% | | 2019 | 0.00 | -1,036,745,832.56 | 0.00% | | 2018 | 0.00 | 102,535,975.63 | 0.00% | [II. Profit Distribution and Capital Reserve Conversion to Share Capital for the Current Reporting Period](index=31&type=section&id=II.%20Profit%20Distribution%20and%20Capital%20Reserve%20Conversion%20to%20Share%20Capital%20for%20the%20Current%20Reporting%20Period) This section reiterates the company's plan for the year to not distribute cash dividends, bonus shares, or convert capital reserves into share capital - The company plans **no cash dividends, bonus shares, or conversion of capital reserves into share capital** for the year[102](index=102&type=chunk) [III. Fulfillment of Commitments](index=32&type=section&id=III.%20Fulfillment%20of%20Commitments) This section details the fulfillment status of commitments by the company's actual controller, shareholders, related parties, and the company itself during the reporting period, including independence, avoidance of horizontal competition, regulation of related-party transactions, share lock-up, and performance commitments; notably, Beifang Yuanlin's performance commitment was not met, and the company has filed a lawsuit and obtained a judgment - Multiple commitments are ongoing, including **long-term commitments from the controlling shareholder and actual controller regarding independence, avoidance of horizontal competition, and regulation and reduction of related-party transactions**[103](index=103&type=chunk)[104](index=104&type=chunk)[105](index=105&type=chunk)[106](index=106&type=chunk)[107](index=107&type=chunk)[108](index=108&type=chunk)[109](index=109&type=chunk)[110](index=110&type=chunk)[111](index=111&type=chunk)[112](index=112&type=chunk)[113](index=113&type=chunk) - Beifang Yuanlin's performance commitment was **overdue and unfulfilled**, primarily due to **macroeconomic conditions and changes in the financial environment**, leading to reduced operating revenue and decreased profit; the company has filed a lawsuit and obtained a judgment, requiring the compensation obligors to fulfill their compensation obligations[114](index=114&type=chunk) Zhongke Dingshi Environmental Engineering Co., Ltd. 2020 Performance Commitment Fulfillment | Indicator | Committed Performance (RMB 10,000) | Actual Performance for Current Period (RMB 10,000) | Performance Commitment Ratio | | :--- | :--- | :--- | :--- | | Net profit attributable to parent company after deducting non-recurring gains and losses | 40,000 (three-year cumulative) | 11,685.96 (2020) | N/A | | Net cash flow from operating activities | 15,000 (three-year cumulative) | N/A | N/A | - Zhongke Dingshi's 2020 performance commitment fulfillment **exceeded profit forecast expectations**, and **no goodwill impairment was recognized** during the reporting period[117](index=117&type=chunk) [IV. Non-Operating Fund Occupation by Controlling Shareholder and Its Related Parties](index=44&type=section&id=IV.%20Non-Operating%20Fund%20Occupation%20by%20Controlling%20Shareholder%20and%20Its%20Related%20Parties) This section states that during the reporting period, there was no non-operating fund occupation by the controlling shareholder and its related parties of the listed company - The company **had no non-operating fund occupation by its controlling shareholder or related parties** during the reporting period[117](index=117&type=chunk) [V. Explanations by the Board of Directors, Supervisory Board, and Independent Directors (if any) on the Accounting Firm's 'Non-Standard Audit Report' for the Current Period](index=44&type=section&id=V.%20Explanations%20by%20the%20Board%20of%20Directors%2C%20Supervisory%20Board%2C%20and%20Independent%20Directors%20(if%20any)%20on%20the%20Accounting%20Firm%27s%20%27Non-Standard%20Audit%20Report%27%20for%20the%20Current%20Period) This section states that the accounting firm did not issue a non-standard audit report for the company during the reporting period - The company **did not receive a non-standard audit report** from the accounting firm during the reporting period[118](index=118&type=chunk) [VI. Explanation of Changes in Accounting Policies, Accounting Estimates, and Accounting Methods Compared to the Previous Year's Financial Report](index=44&type=section&id=VI.%20Explanation%20of%20Changes%20in%20Accounting%20Policies%2C%20Accounting%20Estimates%2C%20and%20Accounting%20Methods%20Compared%20to%20the%20Previous%20Year%27s%20Financial%20Report) This section explains that the company adopted new revenue standards from January 1, 2020, and retrospectively adjusted relevant items in the opening consolidated financial statements, detailing the impact on consolidated balance sheet and income statement items under both new and old standards - The company adopted the Ministry of Finance's revised **'Enterprise Accounting Standard No. 14—Revenue' (New Revenue Standard)** starting **January 1, 2020**[118](index=118&type=chunk)[119](index=119&type=chunk) Impact of Adopting New Revenue Standard on Opening Consolidated Statement Items for 2020 | Statement Item | December 31, 2019 (RMB) | January 1, 2020 (RMB) | | :--- | :--- | :--- | | Contract Assets | 0.00 | 3,203,726,524.07 | | Inventories | 4,354,696,634.50 | 680,900,264.45 | | Advances from Customers | 905,195,208.15 | 0.00 | | Contract Liabilities | 0.00 | 412,191,529.29 | | Undistributed Profits | -581,857,220.20 | -592,947,437.92 | | Owners' Equity Attributable to Parent Company | 4,635,903,674.91 | 4,624,813,457.19 | Impact of Adopting New Revenue Standard on 2020 Consolidated Income Statement Items | Statement Item | Current Period Amount Under New Standard (RMB) | Current Period Amount Under Original Standard (RMB) | | :--- | :--- | :--- | | Asset Impairment Losses | -1,334,086,677.94 | -1,338,171,195.42 | | Total Profit | -2,481,562,301.71 | -2,485,646,819.19 | | Net Profit | -2,531,322,158.15 | -2,534,655,123.93 | [VII. Explanation of Significant Accounting Error Corrections Requiring Retrospective Restatement During the Reporting Period](index=45&type=section&id=VII.%20Explanation%20of%20Significant%20Accounting%20Error%20Corrections%20Requiring%20Retrospective%20Restatement%20During%20the%20Reporting%20Period) This section states that the company had no significant accounting error corrections requiring retrospective restatement during the reporting period - The company **had no significant accounting error corrections requiring retrospective restatement** during the reporting period[121](index=121&type=chunk) [VIII. Explanation of Changes in Consolidation Scope Compared to the Previous Year's Financial Report](index=45&type=section&id=VIII.%20Explanation%20of%20Changes%20in%20Consolidation%20Scope%20Compared%20to%20the%20Previous%20Year%27s%20Financial%20Report) This section explains that the company's consolidation scope changed in 2020, with 2 new subsidiaries added and 3 deregistered, reducing the total number of consolidated subsidiaries from 48 to 47 - In 2020, the company consolidated **47 subsidiaries**, an increase of **2** and a decrease of **3** compared to the previous period[122](index=122&type=chunk) - Newly consolidated subsidiaries established in the current period are **Jinglan Environmental Technology (Chengdu) Co., Ltd. and Chifeng Muhe Hotel Co., Ltd.**[123](index=123&type=chunk) - Subsidiaries deregistered in the current period are **Jinglan Muhe Julu Tiantiantong Agricultural Water Supply Co., Ltd., Tianjin Landscape Water Environment Restoration Technology Co., Ltd., and Tianjin Beifang Kechuang Environmental Testing Co., Ltd.**[123](index=123&type=chunk) [IX. Appointment and Dismissal of Accounting Firms](index=46&type=section&id=IX.%20Appointment%20and%20Dismissal%20of%20Accounting%20Firms) This section discloses that the company appointed Zhongxingcai Guanghua Certified Public Accountants (Special General Partnership) as its 2020 audit firm and states that no change in accounting firms occurred during the reporting period - The company engaged **Zhongxingcai Guanghua Certified Public Accountants (Special General Partnership)** as its domestic accounting firm, with **6 consecutive years of audit services** and a remuneration of **1.05 million RMB**[124](index=124&type=chunk) - During the reporting period, the company **did not change its accounting firm**[124](index=124&type=chunk) - The company engaged **Zhongxingcai Guanghua Certified Public Accountants (Special General Partnership)** as its 2020 internal control audit firm, with a fee of **600,000 RMB**[124](index=124&type=chunk) [X. Delisting Risk After Annual Report Disclosure](index=46&type=section&id=X.%20Delisting%20Risk%20After%20Annual%20Report%20Disclosure) This section states that the company does not face delisting after the annual report disclosure - The company **did not face delisting** during the reporting period[125](index=125&type=chunk) [XI. Bankruptcy and Reorganization Matters](index=46&type=section&id=XI.%20Bankruptcy%20and%20Reorganization%20Matters) This section states that the company had no bankruptcy and reorganization matters during the reporting period - The company **had no bankruptcy and reorganization matters** during the reporting period[125](index=125&type=chunk) [XII. Major Litigation and Arbitration Matters](index=46&type=section&id=XII.%20Major%20Litigation%20and%20Arbitration%20Matters) This section discloses the company's major litigation and arbitration matters, primarily including lawsuits filed against relevant parties due to Beifang Yuanlin's unfulfilled performance commitment, for which the court has issued a first-instance judgment requiring compensation; it also discloses other litigation and arbitration cases not meeting the materiality threshold - Due to **Beifang Yuanlin's unfulfilled performance commitment**, the company filed a lawsuit against **Beikong Engineering, Gao Xuegang, and other related parties**, involving an amount of **720.88 million RMB**[126](index=126&type=chunk) - The court has issued a **first-instance judgment** regarding the Beifang Yuanlin performance commitment lawsuit, requiring the defendants to fulfill their compensation obligations, with the judgment result **not impacting the company's 2020 net profit**[126](index=126&type=chunk) Major Litigation and Arbitration Matters During Reporting Period | Basic Information of Litigation (Arbitration) | Amount Involved (RMB 10,000) | Provision for Liabilities Formed | Litigation (Arbitration) Progress | Execution Status of Litigation (Arbitration) Judgment | | :--- | :--- | :--- | :--- | :--- | | Beifang Yuanlin performance commitment unfulfilled lawsuit | 72,087.85 | No | Court has issued a first-instance judgment | Not yet started execution | | Litigation/arbitration not meeting major disclosure standards - Company (incl. subsidiaries) suing others | 3,383.36 | No | Some have been concluded with judgments, some are not yet heard or withdrawn/settled | Some executed, some not yet in execution phase | | Litigation/arbitration not meeting major disclosure standards - Others suing the company (incl. subsidiaries) | 26,097 | No | Some have been concluded with judgments, some are not yet heard or withdrawn/settled | Some executed, some not yet in execution phase | [XIII. Penalties and Rectification](index=48&type=section&id=XIII.%20Penalties%20and%20Rectification) This section states that the company had no penalties or rectification situations during the reporting period - The company **had no penalties or rectification situations** during the reporting period[129](index=129&type=chunk) [XIV. Integrity Status of the Company, Its Controlling Shareholder, and Actual Controller](index=49&type=section&id=XIV.%20Integrity%20Status%20of%20the%20Company%2C%20Its%20Controlling%20Shareholder%2C%20and%20Actual%20Controller) This section states that the company, its controlling shareholder, and actual controller maintain good integrity, with no unfulfilled court judgments or overdue unpaid debts - The company, its controlling shareholder, and actual controller maintain **good integrity**, with **no unfulfilled court judgments or large overdue unpaid debts**[130](index=130&type=chunk) [XV. Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=49&type=section&id=XV.%20Implementation%20of%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) This section states that the company had no implementation of equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period - The company **had no equity incentive plans, employee stock ownership plans, or other employee incentive measures** or their implementation during the reporting period[131](index=131&type=chunk) [XVI. Major Related-Party Transactions](index=49&type=section&id=XVI.%20Major%20Related-Party%20Transactions) This section states that during the reporting period, the company had no related-party transactions related to daily operations, asset or equity acquisitions/disposals, joint external investments, or non-operating related-party receivables/payables - The company **had no related-party transactions related to daily operations** during the reporting period[132](index=132&type=chunk) - The company **had no related-party transactions involving asset or equity acquisitions/disposals** during the reporting period[133](index=133&type=chunk) - The company **had no related-party transactions involving joint external investments** during the reporting period[134](index=134&type=chunk) - The company **had no non-operating related-party receivables or payables** during the reporting period[135](index=135&type=chunk) [XVII. Major Contracts and Their Fulfillment](index=50&type=section&id=XVII.%20Major%20Contracts%20and%20Their%20Fulfillment) This section discloses the company's major contract fulfillment during the reporting period, including leasing matters, significant guarantees, and major ordinary course contracts; the company has office leases and provided multiple guarantees for subsidiaries, with total guarantees accounting for 149.83% of net assets; it also lists several ongoing major ordinary course contracts - To meet office needs, the company leased **part of the second floor of Poly International Plaza T2, Wangjing Dongyuan 7th District, Chaoyang District, Beijing**[139](index=139&type=chunk) External Guarantees by the Company and Its Subsidiaries (Excluding Guarantees to Subsidiaries) | Guaranteed Party Name | Guaranteed Amount (RMB 10,000) | Actual External Guarantee Balance at Period-End (RMB 10,000) | | :--- | :--- | :--- | | Jiaozuo Runhua Chemical Industry Co., Ltd. | 10,000 | 5,000 | | Ulanqab Jinglan Ecological Technology Co., Ltd. | 40,000 | 25,000 | - At the end of the reporting period, the company's **total guarantees amounted to 3.34 billion RMB**, accounting for **149.83% of the company's net assets**[150](index=150&type=chunk) - The company provided multiple guarantees for subsidiaries, including **Jinglan Muhe, Beifang Yuanlin, Jinglan Ecological, Jinglan Nengke, Jinglan Environmental Technology, Jinglan Environmental Construction, Jinglan Resource Technology, and Zhongke Dingshi**, with guarantee methods including **joint and several liability guarantees, mortgage guarantees, and pledge guarantees**[143](index=143&type=chunk)[144](index=144&type=chunk)[145](index=145&type=chunk)[146](index=146&type=chunk)[147](index=147&type=chunk)[148](index=148&type=chunk)[149](index=149&type=chunk)[150](index=150&type=chunk)[151](index=151&type=chunk)[152](index=152&type=chunk)[153](index=153&type=chunk) - The company signed multiple major ordinary course contracts, including the **Gaotang County Rural Revitalization Demonstration Project, Tianjin Beichen District Chemical Hazardous Goods Trade and Storage Company Site Remediation Project, and Shandong Dacheng Agricultural Chemical Co., Ltd. Phase II Soil Remediation Project**, with some projects completed and others in construction or design phases[157](index=157&type=chunk)[158](index=158&type=chunk)[159](index=159&type=chunk) [XVIII. Social Responsibility](index=61&type=section&id=XVIII.%20Social%20Responsibility) This section describes the company's fulfillment of social responsibilities, including upholding its corporate mission, developing core businesses, strictly adhering to environmental responsibilities, engaging in public welfare activities, and technological innovation; the company actively participates in targeted poverty alleviation through donations, educational support, elderly care, disability assistance, and medical aid, and implements industry-based poverty alleviation aligned with its main business - The company upholds its mission of **'Green Mountains, Clear Waters, Blue Skies, Enduring China Dream,'** focusing on the ecological environment sector and striving to become a leading international **'ecological environment planning, investment, construction, and operation service provider'**[161](index=161&type=chunk) - The company actively responded to targeted poverty alleviation initiatives, with **Jinglan Yuanlin donating to 7 assisted villages in Lintan County, Gansu Province**, and **Jinglan Muhe donating supplies to students in Shaburitai Village, Chifeng City**, and participating in poverty alleviation and warmth-giving activities[163](index=163&type=chunk) 2020 Targeted Poverty Alleviation Achievements | Indicator | Unit | Quantity/Status | | :--- | :--- | :--- | | Overall situation: Funds | RMB 10,000 | 7.1 | | Overall situation: Material equivalent | RMB 10,000 | 1.01 | | Other projects: Number of projects | projects | 9 | | Other projects: Investment amount | RMB 10,000 | 8.11 | - The company's subsequent targeted poverty alleviation plan will involve **job creation, placement of disabled individuals, and industry-based poverty alleviation** leveraging its main business[165](index=165&type=chunk) - The company and its subsidiaries are **not classified as key polluting units** by environmental protection authorities[166](index=166&type=chunk) [XIX. Explanation of Other Significant Matters](index=63&type=section&id=XIX.%20Explanation%20of%20Other%20Significant%20Matters) This section states that the company had no other significant matters requiring explanation during the reporting period - The company **had no other significant matters requiring explanation** during the reporting period[166](index=166&type=chunk) [XX. Significant Matters of Company Subsidiaries](index=63&type=section&id=XX.%20Significant%20Matters%20of%20Company%20Subsidiaries) This section states that the company had no significant matters concerning its subsidiaries during the reporting period - The company **had no significant matters concerning its subsidiaries** during the reporting period[167](index=167&type=chunk) [Part VI Share Changes and Shareholder Information](index=64&type=section&id=Part%20VI%20Share%20Changes%20and%20Shareholder%20Information) This section details the company's share capital changes, securities issuance, and the status of its shareholders and actual controller, including major shareholding structures and any pledges or freezes [I. Share Change Status](index=64&type=section&id=I.%20Share%20Change%20Status) This section details the changes in the company's total shares, restricted shares, and unrestricted shares during the reporting period, primarily due to the lifting of restrictions on some shareholders' shares Share Change Status (2020) | Share Class | Number Before Change (shares) | Proportion Before Change | Change (Increase/Decrease) (shares) | Number After Change (shares) | Proportion After Change | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 290,697,495 | 28.40% | -88,894,705 | 201,802,790 | 19.71% | | II. Unrestricted Shares | 732,970,321 | 71.60% | 88,894,705 | 821,865,026 | 80.29% | | III. Total Shares | 1,023,667,816 | 100.00% | 0 | 1,023,667,816 | 100.00% | - The main reason for share changes was the company processing the **lifting of restrictions on 82,281,059 shares** for 9 shareholders, including **Yin Xiaodong and Banding Asset Management**[170](index=170&type=chunk) Changes in Restricted Shares (Partial Shareholders) | Shareholder Name | Restricted Shares at Beginning of Period (shares) | Restricted Shares Released in Current Period (shares) | Restricted Shares at End of Period (shares) | Reason for Restriction | | :--- | :--- | :--- | :--- | :--- | | Yin Xiaodong | 113,842,569 | 28,460,642 | 85,381,927 | Additional Issuance | | Banding Asset Management | 48,141,732 | 48,141,732 | 0 | Additional Issuance | | Gu'an Yichang | 5,078,092 | 5,078,092 | 0 | Additional Issuance | [II. Securities Issuance and Listing](index=66&type=section&id=II.%20Securities%20Issuance%20and%20Listing) This section states that the company had no securities issuance during the reporting period, no explanations for changes in total shares, shareholder structure, or asset and liability structure, and no existing internal employee shares - The company **had no securities issuance (excluding preferred shares)** during the reporting period[173](index=173&type=chunk) - The company **had no explanations for changes in total shares and shareholder structure, or changes in the company's asset and liability structure** during the reporting period[173](index=173&type=chunk) - The company **had no existing internal employee shares** during the reporting period[173](index=173&type=chunk) [III. Shareholders and Actual Controller](index=66&type=section&id=III.%20Shareholders%20and%20Actual%20Controller) This section discloses the company's shareholder count and shareholding, including the top 10 shareholders' proportions, quantities, and pledge/freeze status; the controlling shareholder is Beijing Yangshu Lantian Investment Center (Limited Partnership), and the actual controller is Guo Shaozeng, with no changes during the reporting period - At the end of the reporting period, the total number of ordinary shareholders was **32,277**[174](index=174&type=chunk) Top 5 Shareholders' Shareholding (Year-End 2020) | Shareholder Name | Shareholder Nature | Shareholding Proportion | Shares Held at Period-End (shares) | Pledge or Freeze Status (shares) | | :--- | :--- | :--- | :--- | :--- | | Beijing Yangshu Lantian Investment Center (Limited Partnership) | Domestic Non-State-Owned Legal Person | 16.68% | 170,763,781 | Pledged: 170,735,328 | | Yin Xiaodong | Domestic Natural Person | 11.12% | 113,842,569 | N/A | | Beijing Yangshu Jiaye Investment Center (Limited Partnership) | Domestic Non-State-Owned Legal Person | 9.21% | 94,316,806 | Pledged: 94,316,806 | | Wuliji | Domestic Natural Person | 5.65% | 57,814,766 | Pledged: 57,799,998 | | Jinglan Holdings Co., Ltd. | Domestic Non-State-Owned Legal Person | 5.10% | 52,200,000 | Pledged: 50,026,701 | - The controlling shareholder is **Beijing Yangshu Lantian Investment Center (Limited Partnership)**, and the actual controller is **Guo Shaozeng**, with **no changes** during the reporting period[177](index=177&type=chunk)[178](index=178&type=chunk)[179](index=179&type=chunk) [Part VII Preferred Shares Related Information](index=70&type=section&id=Part%20VII%20Preferred%20Shares%20Related%20Information) This section confirms that the company had no preferred shares during the reporting period [Preferred Shares Related Information](index=70&type=section&id=Preferred%20Shares%20Related%20Information) This section states that the company had no preferred shares during the reporting period - The company **had no preferred shares** during the reporting period[184](index=184&type=chunk) [Part VIII Convertible Corporate Bonds Related Information](index=71&type=section&id=Part%20VIII%20Convertible%20Corporate%20Bonds%20Related%20Information) This section confirms that the company had no convertible corporate bonds during the reporting period [Convertible Corporate Bonds Related Information](index=71&type=section&id=Convertible%20Corporate%20Bonds%20Related%20Information) This section states that the company had no convertible corporate bonds during the reporting period - The company **had no convertible corporate bonds** during the reporting period[186](index=186&type=chunk) [Part IX Directors, Supervisors, Senior Management, and Employees](index=72&type=section&id=Part%20IX%20Directors%2C%20Supervisors%2C%20Senior%20Management%2C%20and%20Employees) This section provides details on the shareholdings, changes, professional backgrounds, and compensation of the company's directors, supervisors, and senior management, along with an overview of the employee structure and related policies [I. Shareholding Changes of Directors, Supervisors, and Senior Management](index=72&type=section&id=I.%20Shareholding%20Changes%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) This section lists the shareholdings of the company's directors, supervisors, and senior management, including opening and closing share counts and changes during the period, noting that some executives, such as Liu Xin, Guo Yuanyuan, Li Guirong, Wuliji, and Yin Xiaodong, hold company shares Shareholding Changes of Directors, Supervisors, and Senior Management (Partial) | Name | Position | Shares Held at Beginning of Period (shares) | Shares Held at End of Period (shares) | | :--- | :--- | :--- | :--- | | Liu Xin | Director, Vice President, Board Secretary | 124,799 | 124,799 | | Guo Yuanyuan | Vice President | 497,400 | 497,400 | | Li Guirong | Vice President | 72,780 | 72,780 | | Wuliji | Vice President | 57,814,766 | 57,814,766 | | Yin Xiaodong | Vice President | 113,842,569 | 113,842,569 | [II. Changes in Company Directors, Supervisors, and Senior Management](index=74&type=section&id=II.%20Changes%20in%20Company%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) This section discloses changes in the company's directors, supervisors, and senior management during the reporting period, including Jiang Lizhe's resignation as Executive President, position adjustments for Yang Rengui and Hao Xin, and the departures of Wu Chunjun and Li Wenming - Jiang Lizhe resigned as Executive President on **April 13, 2021**, due to personal reasons[190](index=190&type=chunk) - Yang Rengui and Hao Xin's positions were adjusted, with **Yang Rengui appointed President and Hao Xin appointed Executive President**[190](index=190&type=chunk) - Wu Chunjun resigned as Vice Chairman and President, and Li Wenming resigned as Vice President[190](index=190&type=chunk) [III. Employment Status](index=74&type=section&id=III.%20Employment%20Status) This section details the professional backgrounds, key work experiences, and internal and external appointments of the company's current directors, supervisors, and senior management, including positions in shareholder entities and other organizations, and states no securities regulatory penalties in the past three years - Chairman **Yang Rengui holds a Ph.D. in Finance** and previously served as Chairman and President of Boya Software Group[191](index=191&type=chunk) - President **Hao Xin previously served as Director, Party Secretary, and Executive Deputy General Manager of Beijing Urban Construction Environmental Remediation Co., Ltd.**[192](index=192&type=chunk) - Board Secretary **Liu Xin holds a master's degree and a Tsinghua EMBA background**[194](index=194&type=chunk) - Supervisory Board Chairman **Yin Zhoucheng is a Senior Economist** and previously served as Vice President and Chairman of Jilin Pan-Asia Trust and Investment Co., Ltd.[196](index=196&type=chunk) - Vice President **Yin Xiaodong currently serves as Chairman of Zhongke Dingshi**[198](index=198&type=chunk) - The company's current and departed directors, supervisors, and senior management **had no securities regulatory penalties in the past three years**[200](index=200&type=chunk) [IV. Compensation of Directors, Supervisors, and Senior Management](index=78&type=section&id=IV.%20Compensation%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) This section discloses the decision-making process, determination basis, and actual payment of compensation for the company's directors, supervisors, and senior management; in 2020, the total pre-tax compensation paid to directors, supervisors, and senior management was 5.54 million RMB - Compensation for directors, supervisors, and senior management is determined by the **company's board of directors and general meeting of shareholders**, based on **job responsibilities, performance appraisals, and industry compensation levels**[201](index=201&type=chunk) 2020 Compensation of Directors, Supervisors, and Senior Management (Partial) | Name | Position | Total Pre-Tax Compensation from Company (RMB 10,000) | Received Compensation from Company's Related Parties | | :--- | :--- | :--- | :--- | | Yang Rengui | Chairman | 60 | No | | Hao Xin | Director, President | 82.98 | No | | Jiang Lizhe | Director, Executive President | 66.8 | No | | Liu Xin | Director, Vice President, Board Secretary | 50.17 | No | | Nie Xingkai | Independent Director | 12 | No | | Zhu Jiang | Independent Director | 12 | No | | Meng Chen | Supervisor | 0 | Yes | | Total | -- | 554 | -- | [V. Company Employee Information](index=79&type=section&id=V.%20Company%20Employee%20Information) This section details the company's employee count, professional composition, and education levels, and outlines its compensation policies and training plans; as of the end of the reporting period, the company had a total of 1,078 active employees, with a higher proportion of engineering and technical personnel 2020 Employee Count and Professional Composition | Indicator | Quantity (people) | | :--- | :--- | | Total number of active employees | 1,078 | | Production personnel | 143 | | Sales personnel | 95 | | Technical personnel | 120 | | Financial personnel | 69 | | Administrative personnel | 53 | | Engineering personnel | 345 | | Other | 253 | 2020 Employee Education Level | Education Level Category | Quantity (people) | | :--- | :--- | | Postgraduate (Doctorate and above) | 15 | | Postgraduate (Master's) | 158 | | Undergraduate | 387 | | Junior College | 229 | | High School and below | 289 | - The company's compensation policy is divided into **position-based salary and performance-based salary**, determined by **employee attendance, work completion, and appraisal results**[207](index=207&type=chunk) - In 2020, **new employee training coverage reached 100%**, and online vocational skills training was conducted; in 2021, micro-classroom training will continue to enhance employees' comprehensive quality[208](index=208&type=chunk) [Part X Corporate Governance](index=81&type=section&id=Part%20X%20Corporate%20Governance) This section details the company's corporate governance structure, its independence from the controlling shareholder, the functioning of its board committees and supervisory board, and the internal control system [I. Basic Status of Corporate Governance](index=81&type=section&id=I.%20Basic%20Status%20of%20Corporate%20Governance) This section outlines the basic status of corporate governance, emphasizing the company's strict adherence to rele

Group 1 - The company approved a financing guarantee for its subsidiary Yunnan Yesheng Environmental Resources Technology Co., Ltd. with a limit of up to 90 million yuan for the year 2025 [2][3] - The guarantee is valid from the date of approval until the next shareholders' meeting that reviews similar matters [2] - The subsidiary plans to apply for a working capital loan of up to 10 million yuan from the Industrial and Commercial Bank of China, with a loan term of 36 months and an interest rate not exceeding 4% [2][3] Group 2 - The total external guarantee amount provided by the company and its subsidiaries is 199 million yuan, with a balance of 39 million yuan, representing 5.87% of the company's latest audited net assets [5][6] - There are no overdue debts as of the date of the announcement [6]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：000711 证券简称：*ST京蓝 公告编号：2025-074 京蓝科技股份有限公司 关于为控股子公司贷款提供担保的公告 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。 一、担保情况概述 京蓝科技股份有限公司（以下简称"京蓝科技""上市公司""公司"）于2025年8月13日召开第十一届董事 会第十七次临时会议，于2025年9月2日召开2025年第六次临时股东会，审议通过了《关于对控股子公司 2025年度融资担保额度进行预计的议案》，同意2025年度公司对合并报表范围内子公司云南业胜环境资 源科技有限公司（以下简称"云南业胜"）担保额度不超过9000万元，有效期自公司股东会审议批准之日 起至下年审议本类事项的股东会之日止。并授权公司董事长代表公司在上述担保额度内签署相关法律文 件。 具体内容详见公司于2025年8月15日在指定信息披露媒体巨潮资讯网发布的《关于对控股子公司2025年 度融资担保额度进行预计的公告》（公告编号：2025-061）。 京蓝科技控股子公司云南业胜根据业务发展需要，拟向中国工商银 ...

京蓝科技股份有限公司 关于为控股子公司贷款提供担保的公告 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。 证券代码：000711 证券简称：*ST 京蓝 公告编号：2025-074 一、担保情况概述 京蓝科技股份有限公司（以下简称"京蓝科技""上市公司""公司"）于 2025 年 8 月 13 日召开第十一届董事会第十七次临时会议，于 2025 年 9 月 2 日 召开 2025 年第六次临时股东会，审议通过了《关于对控股子公司 2025 年度融资 担保额度进行预计的议案》，同意 2025 年度公司对合并报表范围内子公司云南 业胜环境资源科技有限公司（以下简称"云南业胜"）担保额度不超过 9000 万 元，有效期自公司股东会审议批准之日起至下年审议本类事项的股东会之日止。 并授权公司董事长代表公司在上述担保额度内签署相关法律文件。 具体内容详见公司于 2025 年 8 月 15 日在指定信息披露媒体巨潮资讯网发布 的《关于对控股子公司 2025 年度融资担保额度进行预计的公告》（公告编号： 2025-061）。 京蓝科技控股子公司云南业胜根据业务发展需要，拟向 ...