城发环境股份有限公司 关于召开 2022 年度现场业绩说明会及 2023 年第一次投资者现场交流会的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或者重大遗漏。 城发环境股份有限公司（以下简称"公司"）分别于 2023 年 04 月 22 日、2023 年 04 月 29 日发布了公司 2022 年度报告全文及摘要、2023 年第一季度报告。2022 年度报告全文及摘要将于 2023 年 05 月 16 日提交公司 2022 年度股东大会审议。 为便于广大投资者更深入全面地了解 2022 年度报告、2023 年第一季度报告及公 司经营情况，公司定于 2023 年 05 月 19 日（星期五）09:30-12:00、2023 年 05 月 19 日（星期五）15:00-18:00 在郑州市金水区金水东路 33 号郑州美盛喜来登大酒店 三层（中原厅）举办城发环境股份有限公司 2022 年度现场业绩说明会及 2023 年第 一次投资者现场交流会，将针对 2022 年度、2023 年第一季度经营成果及财务指标的 具体情况与投资者进行互动交流和沟通，就投资者普遍关注的问题进行 ...

Financial Performance - Revenue for Q1 2023 reached ¥1,520,514,471.27, an increase of 27.54% compared to ¥1,192,157,305.99 in the same period last year[4] - Net profit attributable to shareholders was ¥306,745,773.58, up 36.71% from ¥224,385,033.43 year-on-year[4] - Basic earnings per share increased by 36.68% to ¥0.4777 from ¥0.3495 in the previous year[4] - Net profit for Q1 2023 was ¥341,359,628.62, representing a 36.5% increase from ¥250,077,174.24 in Q1 2022[19] - Total operating revenue for Q1 2023 reached ¥1,520,514,471.27, an increase of 27.5% compared to ¥1,192,157,305.99 in Q1 2022[17] Cash Flow - Net cash flow from operating activities surged by 380.94% to ¥229,447,070.98, compared to ¥47,708,210.49 in Q1 2022[4] - The cash inflow from operating activities for Q1 2023 was CNY 1,103,224,797.12, an increase of 18.7% compared to CNY 929,255,652.43 in Q1 2022[20] - The net cash flow from operating activities was CNY 229,447,070.98, significantly up from CNY 47,708,210.49 in the same period last year[20] - The cash inflow from financing activities was CNY 1,158,474,207.66, a decrease from CNY 1,317,823,479.43 in Q1 2022[21] - The net cash flow from financing activities improved to CNY 464,531,739.58, compared to CNY 275,866,232.69 in the previous year[21] Assets and Liabilities - Total assets at the end of Q1 2023 were ¥26,431,269,494.66, reflecting a 3.62% increase from ¥25,507,391,139.67 at the end of the previous year[4] - Total liabilities increased to ¥18,666,452,567.05 in Q1 2023, up from ¥18,088,628,983.89 in Q1 2022[16] - The company's cash and cash equivalents increased to ¥4,793,323,072.02 in Q1 2023, compared to ¥4,390,850,803.76 in Q1 2022[16] - The company's total assets as of the end of Q1 2023 amounted to ¥26,431,269,494.66, compared to ¥25,507,391,139.67 at the end of Q1 2022[16] Shareholder Information - The total number of common shareholders at the end of the reporting period is 28,376[8] - The largest shareholder, Henan Investment Group Co., Ltd., holds 56.47% of shares, totaling 362,579,146 shares, with 120,000,000 shares pledged[8] - The company's equity attributable to shareholders rose by 4.74% to ¥6,837,566,669.40 from ¥6,528,265,256.51 at the end of last year[4] - The total equity attributable to shareholders of the parent company rose to ¥6,837,566,669.40 in Q1 2023, compared to ¥6,528,265,256.51 in Q1 2022[16] Research and Development - Research and development expenses increased by 101.39% to ¥20,112,869.03, driven by higher investment in R&D projects[7] - Research and development expenses for Q1 2023 were ¥20,112,869.03, significantly higher than ¥9,987,057.67 in Q1 2022, indicating a focus on innovation[17] Operational Changes - The company plans to issue convertible bonds, with approval received from the Henan Provincial Government[12] - The company has revised its articles of association, which was approved at the first extraordinary general meeting of 2023[10] - The company appointed a new deputy general manager, Mr. Li Zhuoying, while Ms. Liang Li resigned from her position[11] - The company is focusing on market expansion and new strategies, as indicated by its plans for bond issuance and management changes[12][11] Inventory and Receivables - Accounts receivable increased to 1,988,586,124.09 RMB from 1,653,603,777.64 RMB, indicating a growth of approximately 20.2%[14] - Inventory increased to 72,441,995.05 RMB from 63,995,749.04 RMB, reflecting a growth of approximately 21.5%[14] - Other receivables decreased slightly to 90,704,035.22 RMB from 96,668,654.62 RMB[14] Tax and Expenses - The company experienced an 80.88% rise in taxes and surcharges, amounting to ¥19,248,385.50, primarily due to increased VAT liabilities[7] - Operating costs for Q1 2023 were ¥1,122,929,738.19, up 25.4% from ¥895,245,850.97 in the same period last year[17] Audit Information - The company did not conduct an audit for the Q1 2023 report[22]

Financial Performance - The company's operating revenue for 2022 was approximately ¥6.36 billion, representing a 12.56% increase compared to ¥5.63 billion in 2021[19]. - The net profit attributable to shareholders for 2022 was approximately ¥1.06 billion, a 9.09% increase from ¥962.79 million in 2021[19]. - Basic earnings per share for 2022 were ¥1.645, reflecting a 9.09% increase from ¥1.4995 in 2021[20]. - Total assets at the end of 2022 were approximately ¥25.51 billion, a 17.25% increase from ¥21.75 billion at the end of 2021[20]. - The net assets attributable to shareholders increased by 16.42% to approximately ¥6.53 billion at the end of 2022, compared to ¥5.60 billion at the end of 2021[20]. - The company achieved a revenue of RMB 6,355.79 million in 2022, representing a year-on-year growth of 12.56%, and a net profit attributable to shareholders of RMB 1,056.19 million, up 9.09% year-on-year[43]. - The company reported a total revenue of 1.2 billion RMB for the fiscal year 2022, representing a year-over-year increase of 15%[124]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion yuan for the fiscal year, representing a year-over-year growth of 15%[192]. Cash Dividends and Profit Distribution - The company reported a cash dividend of 1.65 RMB per 10 shares, based on a total of 642,078,255 shares[3]. - The company has proposed a cash dividend distribution plan for the next three years (2023-2025) as approved on December 21, 2022[149]. - The total distributable profit available for shareholders is 4,210,227,480.26 CNY, with the cash dividend amounting to 100% of the total profit distribution[152]. - The cash dividend distribution plan complies with the company's articles of association and shareholder resolutions[150]. Strategic Development and Market Expansion - The company plans to continue expanding its market presence and enhancing its operational capabilities in the environmental sector[3]. - The company is focusing on expanding its solid waste treatment business, particularly in waste incineration power generation, which is a core part of its operations[34]. - The company plans to enhance its operational capacity in waste treatment facilities, aligning with national goals for waste management and environmental sustainability[30]. - The company aims to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[124]. - The company is actively pursuing market expansion opportunities, particularly in urban environmental management sectors[130]. - The company is exploring potential acquisitions to enhance its service offerings, with a budget of 500 million yuan allocated for this purpose[192]. Research and Development - The company is actively engaged in research and development of new technologies and products to drive future growth[3]. - Research and development expenses surged by 623.01% to ¥77,329,535.75, driven by increased R&D projects[68]. - The company has invested 200 million RMB in R&D for sustainable technologies, aiming for a 15% reduction in carbon emissions by 2025[124]. - The company is committed to developing new technologies and products to enhance its service offerings in the environmental sector[111]. Governance and Compliance - The board of directors confirmed that all members attended the meeting to review the annual report, ensuring accountability for the report's accuracy[3]. - The report includes a comprehensive overview of the company's governance structure and compliance with regulatory requirements[3]. - The company has established a robust governance structure with independent directors to ensure compliance and ethical management practices[115]. - The company emphasizes compliance with various environmental protection laws and regulations, including the Environmental Protection Law and the Water Pollution Prevention Law[162]. - The company has implemented a self-assessment of its governance structure, finding it to be compliant with relevant laws and regulations[159]. Operational Efficiency and Cost Management - The company is committed to enhancing its operational efficiency and exploring new technologies to drive future growth[18]. - The company has implemented cost reduction measures in its water treatment business, achieving a 16% reduction in chemical costs and a 10% decrease in electricity consumption per thousand tons of water[46]. - The company aims to improve its operational efficiency, with a target to reduce costs by 8% through process optimization[124]. - The company has established a salary management mechanism that links employee compensation closely with company performance and job responsibilities[146]. Environmental Compliance and Sustainability - The company is committed to adhering to industry standards for pollutant emissions during its production and operational activities[165]. - The company has implemented a comprehensive pollution control strategy, including a target for nitrogen emissions reduction to 0.1 tons/year[167]. - The company aims to enhance its market presence through strategic partnerships and potential acquisitions in the environmental sector[168]. - The company is focused on expanding its waste management capabilities, with ongoing investments in new technologies and facilities[167]. Leadership and Management Changes - The company reported a significant leadership change with multiple resignations, including the Chairman and several directors, effective October 28, 2022[107]. - The company has appointed new senior management, including Li Jun and Li Feifei as vice presidents on March 11, 2022[106]. - The company is focusing on expanding its market presence and enhancing its operational efficiency through strategic leadership appointments[108]. - The company has a strong management team with diverse backgrounds in finance, management, and engineering, which is expected to drive future growth[109][110][112]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report, highlighting potential risks and countermeasures[3]. - The company faces risks related to changes in industry policies, which could negatively impact its operations if significant policy shifts occur[93]. - The company faces intensified competition in the solid waste disposal market due to increased investments in environmental protection and the entry of state-owned and private enterprises[94]. - The rapid expansion of the company's investment projects in the environmental sector has raised management challenges, necessitating improvements in management capabilities and organizational structure[95].

Financial Performance - The company reported a total revenue of 642,078,255, with a cash dividend of 1.65 CNY per 10 shares for all shareholders[4]. - The company's operating revenue for 2022 was approximately ¥6.36 billion, representing a 12.56% increase from ¥5.63 billion in 2021[22]. - The net profit attributable to shareholders for 2022 was approximately ¥1.06 billion, a 9.09% increase from ¥962.79 million in 2021[22]. - The net cash flow from operating activities increased by 29.23% to approximately ¥1.65 billion in 2022, compared to ¥1.27 billion in 2021[22]. - The basic earnings per share for 2022 was ¥1.645, up 9.09% from ¥1.4995 in 2021[23]. - Total assets at the end of 2022 were approximately ¥25.51 billion, a 17.25% increase from ¥21.75 billion at the end of 2021[23]. - The net assets attributable to shareholders increased by 16.42% to approximately ¥6.53 billion at the end of 2022, compared to ¥5.60 billion at the end of 2021[23]. - The company reported a diluted earnings per share of ¥1.645 for 2022, reflecting a 9.09% increase from ¥1.4995 in 2021[23]. - The company achieved a revenue of RMB 6,355.79 million in 2022, representing a year-on-year growth of 12.56%, and a net profit attributable to shareholders of RMB 1,056.19 million, up 9.09%[46]. - The company reported a total non-recurring gains and losses of ¥46,362,699.05 in 2022, a decrease of 5.2% compared to ¥48,880,138.36 in 2021[28]. Corporate Governance - The board of directors confirmed that all members attended the meeting to review the annual report, ensuring the accuracy and completeness of the financial statements[4]. - The company is committed to maintaining transparency and accountability in its financial reporting and corporate governance practices[4]. - The company strictly adheres to relevant laws and regulations, ensuring transparent information disclosure and protecting investor rights, particularly for minority shareholders[97]. - The company maintains independence from its controlling shareholders in terms of personnel, assets, finance, and operations, with no dual appointments among senior management[98]. - The company has a complete and clear ownership of assets, with an independent financial department and accounting system, ensuring compliance with tax obligations[98]. - The company has held multiple shareholder meetings with participation rates ranging from 66.34% to 67.00% throughout the reporting period[101][102]. - The company has a stable management team with no significant changes in the board composition during the reporting period[104]. - The company continues to focus on maintaining strong governance and management practices[104]. Risk Management - The company emphasizes the importance of risk awareness among investors regarding forward-looking statements and operational risks[4]. - Future development outlook includes potential risks and corresponding countermeasures detailed in the management discussion section[4]. - The company faces risks related to industry policy changes, increased competition, and management challenges due to rapid business expansion[90][91][92]. Strategic Initiatives - The company is exploring market expansion opportunities and potential mergers and acquisitions to strengthen its market position[4]. - The company plans to continue expanding its investment in environmental and public utility projects, focusing on sustainable development strategies[21]. - The company is committed to enhancing its operational efficiency and exploring new market opportunities through strategic partnerships and technological advancements[21]. - The company is actively involved in the development of new strategies and products, although specific details on new products or technologies were not disclosed in the provided content[109]. - The company is likely to pursue market expansion and potential mergers or acquisitions, as indicated by the diverse backgrounds of its board members in various sectors[106][107][108][109][110][111][112][113][114]. Environmental Compliance - The company emphasizes compliance with various environmental protection laws and regulations, including the Environmental Protection Law and the Water Pollution Prevention Law[161]. - The company recognizes the importance of environmental compliance and has established a framework to monitor and manage its environmental impact[160]. - The company has implemented a comprehensive pollution control strategy, achieving a total of 195.278 tons of COD emissions across all discharge points[165]. - The company is committed to ongoing research and development in environmental protection technologies to meet stricter regulatory requirements[165]. Research and Development - The management team highlighted ongoing efforts in research and development of new technologies to enhance operational efficiency[4]. - Research and development expenses surged to ¥77,329,535.75, a significant increase of 623.01% compared to the previous year[71]. - The company is investing 200 million yuan in research and development for new technologies aimed at sustainability[189]. - The total investment in R&D for new technologies is projected to reach 50 million CNY, representing a 25% increase from the previous year[169]. Financial Management - The company has established a remuneration scheme based on performance and the importance of roles, ensuring alignment with operational results[130]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 876.76 million[132]. - The company’s financial expenses increased by 94.78% to ¥535,327,013.99, primarily due to the capitalization of interest being converted to expenses[71]. - The company’s financing costs have significantly decreased due to active loan replacement and improved capital operation efficiency[54]. Market Expansion - The company is expanding its market presence by constructing a waste incineration power generation project with a daily processing capacity of 1,500 tons and acquiring four medical waste disposal projects with an annual capacity of 13,430 tons[47]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[189]. - Market expansion plans include entering two new provinces, which are anticipated to increase market share by 5%[190]. Shareholder Engagement - The company organized one online performance briefing and responded to 348 investor inquiries on the interactive platform in 2022[178]. - The company approved a shareholder dividend return plan for the next three years (2023-2025) during the board meeting on December 21, 2022[147]. - The cash dividend amount accounts for 100% of the total profit distribution[150]. Operational Efficiency - The company aims to enhance its operational efficiency and increase the comprehensive capacity utilization rate of its projects, focusing on waste-to-energy and sewage treatment collaborations[86]. - The company reduced the manual operation workload by 66% through the implementation of an intelligent control platform in its waste-to-energy projects[53]. - The company is focusing on enhancing its pollution control technologies, aiming for a 10% improvement in efficiency by the end of the next fiscal year[169].

Revenue and Profit - Revenue for Q3 2022 reached ¥1,478,807,125.26, an increase of 4.02% year-over-year, while year-to-date revenue was ¥4,232,974,551.20, up 18.12% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2022 was ¥249,358,417.52, a decrease of 13.83% year-over-year, with year-to-date net profit at ¥830,866,628.98, an increase of 9.82%[5] - The company reported a basic earnings per share of ¥0.3884 for Q3 2022, down 13.82% year-over-year, while year-to-date earnings per share was ¥1.294, up 9.82%[5] - Total operating revenue for the current period reached ¥4,232,974,551.20, an increase of 18.1% compared to ¥3,583,752,331.42 in the previous period[46] - Net profit for the current period was ¥926,132,469.83, representing a growth of 17.6% from ¥787,885,168.33 in the same period last year[50] - The net profit attributable to shareholders of the parent company was ¥830,866,628.98, compared to ¥756,584,051.04 in the previous period, reflecting a year-over-year increase of 9.8%[50] - Basic and diluted earnings per share for the current period were both ¥1.294, up from ¥1.1783 in the previous period[50] Assets and Liabilities - Total assets as of the end of Q3 2022 were ¥24,717,511,786.30, representing a 13.66% increase from the end of the previous year[5] - The company’s total liabilities increased significantly, with other current liabilities rising by 2362.50% to ¥820,529,739.41, primarily due to the issuance of short-term financing bonds[9] - Total liabilities amounted to CNY 17.48 billion, compared to CNY 15.40 billion, marking an increase of approximately 13.6%[42] - The company’s total equity attributable to shareholders increased to ¥6,334,397,109.03, a rise of 13.07% from the previous year[5] - The company's equity attributable to shareholders rose to CNY 6.33 billion from CNY 5.60 billion, a growth of about 13.0%[42] Cash Flow - The company’s cash flow from operating activities for the year-to-date period was ¥837,011,240.07, reflecting a decrease of 9.81% compared to the previous year[5] - Operating cash inflow from sales reached ¥2,872,082,894.38, up from ¥1,916,876,364.50, indicating a significant increase of approximately 50% year-over-year[55] - Net cash flow from operating activities amounted to ¥837,011,240.07, compared to ¥928,078,103.75 in the previous year, showing a decrease of about 10%[55] - Cash outflow for investment activities totaled ¥2,127,446,752.00, a decrease from ¥4,582,160,869.83, reflecting a reduction of approximately 53%[55] - Net cash flow from financing activities was ¥533,245,885.60, down from ¥3,057,569,031.62, indicating a decline of around 83%[57] - Cash and cash equivalents at the end of the period were ¥1,065,595,208.87, down from ¥1,338,690,433.75, representing a decrease of about 20%[57] - The company reported a net cash decrease of ¥168,723,456.48 for the period, an improvement from a decrease of ¥516,843,859.75 in the previous year[57] Research and Development - Research and development expenses surged to ¥40,481,978.71, a dramatic increase of 1344.40% year-over-year, indicating a significant investment in innovation[9] - Research and development expenses surged to ¥40,481,978.71, significantly higher than ¥2,802,676.42 in the prior period, indicating a focus on innovation[46] Shareholder Information - The total number of common shareholders at the end of the reporting period is 27,828[13] - Henan Investment Group Co., Ltd. holds 56.47% of shares, totaling 362,579,146 shares[13] - China United Cement Group Co., Ltd. holds 9.72% of shares, totaling 62,400,000 shares[13] - The top ten shareholders include Hong Kong Central Clearing Limited with 1.28% (8,223,351 shares) and ICBC - GF Multi-Factor Flexible Allocation Mixed Securities Investment Fund with 1.04% (6,678,412 shares)[13] Mergers and Acquisitions - The company plans to merge with Tsinghua Environment Technology Development Co., Ltd. through a share exchange and raise supporting funds[20] - The merger will result in Tsinghua Environment terminating its listing and transferring all assets, liabilities, and rights to the company[20] - The company will issue shares to no more than 35 specific investors for the fundraising related to the merger[20] - The restructuring is classified as a related transaction and does not constitute a restructuring listing[20] - The company has been actively promoting the merger in compliance with relevant laws and regulations[20] - The stock of the company has been suspended since January 11, 2021, due to the planning of the major asset restructuring[21] - The company decided to terminate the major asset restructuring plan and the related agreements with Tsinghua Tongfang on July 21, 2022[26] - The company provided financial assistance to Tsinghua Tongfang totaling up to RMB 290 million, with the first tranche of RMB 290 million disbursed on February 3, 2021[27] - A total of RMB 973.35 million in financial assistance was provided to Tsinghua Tongfang, with all amounts either repaid or transferred, and no overdue financial assistance[31] - The company approved the issuance of corporate bonds not exceeding RMB 2 billion on July 9, 2021, and completed the issuance of green short-term corporate bonds in September 2022[35] - The company agreed to jointly invest RMB 49 million with Henan Natural Gas Pipeline Company to establish a new subsidiary[33] - The company decided to abandon an equity investment opportunity in a project proposed by Henan Investment Group on June 20, 2022[32] - The company transferred a 48.8% stake in a private equity fund to Henan Urban Development Investment Co., Ltd. for a total consideration of RMB 1.0614 million[34] - The company extended the repayment period for financial assistance totaling approximately RMB 681 million to Tsinghua Tongfang and its subsidiaries[30] - The company provided multiple tranches of financial assistance to Zhengzhou Digital Sanitation, with the largest tranche being RMB 320 million[29] - The company signed a supplementary agreement related to the share swap and merger with Tsinghua Tongfang on January 22, 2022[25] Financial Management - Financial expenses increased to ¥363,638,936.40, compared to ¥169,419,521.15 in the previous period, with interest expenses alone rising to ¥405,847,538.85 from ¥192,430,199.89[46] - The company reported a tax expense of ¥238,346,623.80, slightly down from ¥242,029,612.28 in the previous period, indicating effective tax management[50] - Other income for the current period was ¥15,593,136.90, up from ¥4,925,923.42 in the previous period, showing improved ancillary revenue streams[46] Inventory and Receivables - The company reported a significant increase in inventory, which rose to CNY 169.30 million from CNY 35.79 million, an increase of about 373.5%[40] - Accounts receivable increased significantly to CNY 1.76 billion from CNY 910.97 million, reflecting an increase of about 93.5%[40]

Financial Performance - The company reported a total revenue of 1.2 billion yuan for the first half of 2022, representing a year-on-year increase of 15%[2]. - The net profit attributable to shareholders was 150 million yuan, up 10% compared to the same period last year[2]. - The company's operating revenue for the first half of 2022 was CNY 2,754,167,425.94, representing a 27.39% increase compared to CNY 2,162,027,706.68 in the same period last year[34]. - The net profit attributable to shareholders was CNY 581,508,211.46, up 24.46% from CNY 467,214,134.10 year-on-year[34]. - The net profit after deducting non-recurring gains and losses was CNY 550,376,614.76, reflecting a 21.92% increase from CNY 451,410,595.07 in the previous year[34]. - The basic earnings per share increased to CNY 0.9057, a rise of 24.46% compared to CNY 0.7277 in the same period last year[34]. - The company reported a total revenue of approximately CNY 2.54 billion for the period, with a net profit of around CNY 889.45 million, representing a profit margin of approximately 35%[78]. - The company achieved operating revenue of CNY 2,754,167,425.94, a year-on-year increase of 27.39%[60]. - The environmental protection industry accounted for 66.88% of total revenue, up from 55.74% year-on-year, with revenue growth of 52.85%[64]. Market Expansion and Strategy - The company plans to expand its market presence in three new provinces by the end of 2022, aiming for a 25% increase in market share[2]. - Future guidance indicates a projected revenue growth of 20% for the second half of 2022, driven by new project acquisitions[2]. - The company is exploring potential mergers and acquisitions to enhance its service capabilities in the waste management sector[2]. - The company aims to become a comprehensive environmental service provider, focusing on solid waste treatment, urban operation services, and ecological water management[45]. - The company plans to actively expand into provincial and overseas markets to mitigate risks associated with policy changes and industry competition[80]. - The company is focused on expanding its service offerings and enhancing operational efficiency[138]. - Future outlook includes continued investment in new technologies and market expansion strategies[138]. Research and Development - Research and development expenses increased by 30%, totaling 100 million yuan, focusing on new environmental technologies[2]. - Research and development investment surged to CNY 22,116,007.80, an increase of 4,153.70% compared to the previous year[60]. Operational Efficiency and Technology - A new waste treatment technology is expected to be launched in Q4 2022, which is anticipated to improve operational efficiency by 15%[2]. - The company operates 24 waste incineration power generation projects with a disposal capacity of 22,450 tons/day[53]. - The company processed 400.30 million tons of household waste, a significant increase of 569.29% compared to the previous year[53]. - The company’s wastewater treatment volume reached 3,312 million tons, marking a 101% year-on-year growth[54]. Financial Management and Investments - The company has no plans to distribute cash dividends or issue bonus shares for the current fiscal year[7]. - The company reported a net cash flow from operating activities of CNY 385,813,670.29, which is a decrease of 35.49% compared to CNY 598,063,861.38 in the previous year[34]. - The company’s financial expenses increased by 124.62% to CNY 221,905,386.79, primarily due to interest expenses from multiple waste incineration projects transitioning to operation[60]. - The company has a total contract amount of CNY 2 billion for environmental sanitation service projects[53]. Risk Management - The company has identified several risks, including regulatory changes and market competition, and has outlined strategies to mitigate these risks[2]. - The company is facing risks related to changes in national industry policies, particularly in the environmental protection and waste management sectors, which could affect future operations[79]. - The company has identified the need for enhanced management capabilities due to rapid business expansion, and plans to establish a more standardized management system[80]. Environmental Compliance and Emissions - The company adheres to the waste incineration pollution control standard GB18485-2014 and the comprehensive wastewater discharge standard GB8978-1996[105]. - The company is committed to meeting the emission limits set by the Henan Province 2020 Air Pollution Prevention and Control Action Plan[105]. - The company has completed the construction of pollution control facilities, which are now operational and effectively reducing pollutant emissions[111]. - The company conducts self-monitoring according to national standards and regularly uploads monitoring results to the pollution source monitoring data release platform[114]. - The company faced administrative penalties totaling CNY 250,000 due to non-compliance with technical standards and odor emissions[115]. Corporate Governance and Social Responsibility - The company maintains transparent communication with investors through various channels, enhancing transparency and trust[119]. - The company emphasizes employee rights protection, ensuring compliance with labor laws and improving employee benefits[119]. - The company actively participated in community volunteer services during the COVID-19 pandemic, demonstrating strong social responsibility[120]. - The company conducted 13 training sessions, with a total of 1,824 participants, focusing on professional capability enhancement and management skills[120]. Related Party Transactions - The company engaged in related party transactions amounting to 36.05 million yuan for property services, representing 3.27% of similar transaction amounts[133]. - The company also incurred 48.19 million yuan for consulting services, accounting for 4.37% of similar transaction amounts[133]. - The company reported 647.58 million yuan for labor services from a related party, which constituted 58.70% of similar transaction amounts[133].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 1,192,157,305.99, representing a 62.38% increase compared to CNY 734,164,827.59 in the same period last year[4] - Net profit attributable to shareholders for Q1 2022 was CNY 224,385,033.43, a 15.74% increase from CNY 193,876,015.36 year-on-year[4] - Total operating revenue for the current period reached CNY 1,192,157,305.99, a significant increase from CNY 734,164,827.59 in the previous period, representing a growth of approximately 62.5%[27] - Net profit for the current period was CNY 250,077,174.24, compared to CNY 201,261,215.76 in the previous period, reflecting a growth of approximately 24.2%[30] - Total comprehensive income amounted to CNY 250,077,174.24, an increase of 24.2% compared to CNY 201,261,215.76 in the previous period[33] - Basic and diluted earnings per share increased to CNY 0.3495 from CNY 0.3020, representing a growth of 15.6%[33] Cash Flow - The net cash flow from operating activities decreased by 51.91% to CNY 47,708,210.49, down from CNY 99,200,244.93 in the previous year[4] - Cash inflow from operating activities reached CNY 929,255,652.43, up 65.6% from CNY 561,315,248.40 in the prior period[34] - Cash inflow from investment activities totaled CNY 304,056,684.14, significantly higher than CNY 2,653,229.06 in the previous period[37] - Net cash flow from investment activities was negative at CNY -427,301,296.33, compared to CNY -1,141,264,790.77 last year[37] - Cash inflow from financing activities was CNY 1,317,823,479.43, down 35.4% from CNY 2,039,260,463.53[37] - Net cash flow from financing activities decreased to CNY 275,866,232.69 from CNY 957,449,762.46, a decline of 71.2%[37] - The ending balance of cash and cash equivalents was CNY 1,130,591,812.20, down from CNY 1,770,919,510.12 in the previous period[37] Assets and Liabilities - Total assets at the end of Q1 2022 were CNY 23,187,973,661.11, a 6.62% increase from CNY 21,747,758,322.29 at the end of the previous year[4] - The company's total liabilities reached CNY 16,542,176,422.51, compared to CNY 15,401,054,428.15, indicating a growth of around 7.4%[26] - Non-current liabilities totaled CNY 11,188,408,034.29, up from CNY 10,335,500,591.06, which is an increase of approximately 8.3%[26] - The company's total current assets reached ¥4,433,878,443.19, up from ¥4,113,665,209.66 at the beginning of the year[20] - The company's fixed assets decreased to ¥5,358,798,044.99 from ¥5,457,260,037.12[20] Shareholder Information - The total number of common shareholders at the end of the reporting period was 27,754[12] - The largest shareholder, Henan Investment Group Co., Ltd., holds 56.47% of the shares, totaling 362,579,146 shares[12] Operational Metrics - The company's accounts receivable increased by 46.26% to CNY 1,332,392,290.50, attributed to an expanded consolidation scope and revenue growth[8] - The company's inventory rose by 55.51% to CNY 55,660,015.24, mainly due to an increase in operational projects and raw materials[8] - The company reported a 94.40% increase in operating costs, amounting to CNY 713,778,285.53, driven by growth in waste incineration power generation and environmental engineering contracting[8] - Research and development expenses for the current period were CNY 9,987,057.67, reflecting the company's commitment to innovation[30] Investment and Financial Assistance - Investment income surged by 556.82% to CNY 14,142,926.86, primarily due to interest income from financial assistance[8] - The company provided financial assistance totaling approximately ¥971 million to Tsinghua Tongfang Co., Ltd., with ¥290 million repaid and ¥681 million remaining unpaid[16] - The company is in the process of a share swap merger with Tsinghua Tongfang, with related funding proposals approved by the board[16] Management Changes - The company appointed a new deputy general manager and a new secretary of the board in early 2022[16] Audit Status - The first quarter report was not audited[38]

Financial Performance - The company reported a profit distribution plan of 1.50 CNY per 10 shares (including tax) based on a total of 642,078,255 shares[8]. - The company's operating revenue for 2021 was ¥5,631,402,442.79, representing a 65.46% increase compared to the previous year[34]. - The net profit attributable to shareholders for 2021 was ¥962,787,084.06, which is a 55.99% increase from the previous year[34]. - The net profit after deducting non-recurring gains and losses for 2021 was ¥913,906,945.70, reflecting a 45.17% increase year-over-year[34]. - The net cash flow from operating activities for 2021 was ¥1,272,978,215.12, an increase of 32.76% compared to the previous year[34]. - The total assets at the end of 2021 amounted to ¥21,747,758,322.29, marking a 61.20% increase from the end of 2020[34]. - The net assets attributable to shareholders at the end of 2021 were ¥5,602,251,164.35, which is an 18.24% increase from the end of 2020[34]. - The basic earnings per share for 2021 was ¥1.4995, a 32.39% increase compared to the previous year[34]. - The diluted earnings per share for 2021 was also ¥1.4995, reflecting the same percentage increase of 32.39% year-over-year[34]. - The weighted average return on equity for 2021 was 18.56%, up from 16.71% in 2020[34]. - The company reported a total of ¥48,880,138.36 in non-recurring gains for 2021, compared to a loss of ¥12,313,228.99 in 2020[40]. Business Transformation and Strategy - The company underwent a significant business transformation in 2018, shifting its focus from cement production to environmental and public utility projects, including investment, construction, and management[29]. - The company operates in the environmental and public utility sectors, focusing on infrastructure investment and management[29]. - The company aims to increase the waste-to-energy processing capacity to 80,000 tons/day by the end of 2025, with a target of 65% for urban waste incineration processing capacity[48]. - The company plans to enhance its operational management capabilities by establishing a comprehensive business analysis system across all projects[49]. - The company is positioned to benefit from the growing market for wastewater treatment, with a target of achieving a 25% reuse rate for reclaimed water in major cities by 2025[48]. - The company is pursuing internationalization as a strategic direction to enhance its market presence[100]. - The company plans to accelerate the transformation of its industrial structure, with the environmental protection industry now accounting for over 50% of its business[103]. Mergers and Acquisitions - The company completed the acquisition of 8 waste-to-energy projects and 5 medical hazardous waste projects through equity acquisition, marking a breakthrough in external mergers and acquisitions[52]. - The company has acquired 100% of Zhengzhou Qidi Company for ¥721,883,200.00, focusing on waste incineration power generation[85]. - The company approved the merger plan with Tsinghua Tongfang Environmental Technology Co., Ltd. and the associated fundraising proposal on July 22, 2021[177]. - The company reported a significant asset restructuring due to the merger with Tsinghua Tongfang Environmental Technology Co., Ltd., which is classified as a major asset reorganization[179]. - The company has acquired 100% equity of Zhengzhou Tsinghua Zero Carbon Technology Co., Ltd. from Tsinghua Tongfang Environmental Technology Co., Ltd.[180]. Risk Management and Governance - The company emphasizes the importance of risk awareness among investors regarding forward-looking statements in its annual report[8]. - The company faces risks from potential changes in national industry policies, which could impact its operations and market development[106]. - The company will actively monitor industry policies and expand into overseas markets to mitigate risks associated with policy changes[106]. - The company has decided to forgo the acquisition of a 100% stake in a related company, prioritizing its own interests and capabilities for future opportunities[116]. - The company has a diverse board with members holding various professional backgrounds, including engineering, economics, and management[127][128][129]. - The board includes independent directors with extensive experience in accounting and legal fields, enhancing corporate governance[135][136]. Operational Efficiency and Cost Management - The company has implemented new strategies to improve operational efficiency, aiming for a 10% reduction in operational costs[154]. - The company reported a significant increase in costs for environmental engineering contracting and equipment business, with raw material and labor costs rising by 75.73%[68]. - Sales and management expenses increased by 24.03% and 35.49% respectively, primarily due to the expansion of the consolidation scope and stable business operations[74]. - Financial expenses rose by 75.73% to ¥274,832,004.44, attributed to an increase in the financing scale during the reporting period[74]. - R&D expenses surged by 1,001.64% to ¥10,695,551.58, mainly due to increased material costs[74]. Employee and Management Structure - The total number of employees at the end of the reporting period is 4,712, with 122 from the parent company and 4,590 from major subsidiaries[187]. - The employee composition includes 2,955 production personnel, 1,027 technical personnel, 239 financial personnel, and 127 sales personnel[187]. - The company has established a salary management mechanism that links employee compensation closely with company performance and job responsibilities[191]. - The company has a comprehensive training plan covering various areas, including production technology and leadership[192]. - The current management team includes General Manager Bai Yang, appointed on July 28, 2021, and Deputy General Manager Liang Li, appointed on January 21, 2022[126]. Investor Relations and Communication - The company has a dedicated investor relations team to manage communications and disclosures[25]. - The first extraordinary general meeting of 2021 had an investor participation rate of 71.57%[119]. - The annual general meeting for 2020 had an investor participation rate of 66.62%[119]. - The second extraordinary general meeting of 2021 had an investor participation rate of 70.31%[119]. - The third extraordinary general meeting of 2021 had an investor participation rate of 70.93%[119]. - The fourth extraordinary general meeting of 2021 had an investor participation rate of 66.59%[119]. Future Outlook and Development Plans - The company has outlined a future outlook with a revenue growth target of 15% for the next fiscal year[154]. - The company is investing in new product development, with a budget allocation of 50 million CNY for R&D in the upcoming year[154]. - The company plans to expand its market presence by entering three new provinces in the next fiscal year[154]. - The company is focusing on technological advancements, with plans to integrate AI solutions into its service delivery by the end of the next fiscal year[154]. - The company plans to develop 40 core courses and conduct 20 skill training sessions to strengthen its talent pool[105].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥2,162,027,706.68, representing a 199.93% increase compared to the same period last year[26]. - The net profit attributable to shareholders of the listed company reached ¥467,214,134.10, a significant increase of 1,353.38% year-on-year[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥451,410,595.07, up 1,412.39% from the previous year[26]. - The net cash flow from operating activities was ¥598,063,861.38, reflecting a 171.99% increase compared to the same period last year[26]. - Basic earnings per share were ¥0.7277, an increase of 1,110.82% year-on-year[26]. - The company reported a significant increase in tax expenses, which rose by 673.99% to ¥159,653,344.48, reflecting the overall profit growth[42]. - The total revenue for the reporting period was 8,088.08 million, indicating a robust operational performance[123]. - The company has not reported any significant sales returns during the reporting period, indicating stable sales performance[123]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥16,261,271,539.80, a 20.54% increase from the end of the previous year[26]. - The net assets attributable to shareholders of the listed company were ¥5,102,969,423.82, representing a 7.70% increase compared to the end of the previous year[26]. - The company's total liabilities increased to ¥6,084,500,000, with long-term borrowings at ¥5,511,728,915.51, representing 33.89% of total liabilities[49]. - The debt-to-asset ratio increased to 64.75%, up by 4.29% from 60.46%[187]. - The total liabilities amounted to CNY 10,528.87 million, compared to CNY 8,188.36 million last year[199]. Business Operations - The environmental protection sector contributed ¥1,172,651,562.66, accounting for 54.24% of total operating revenue, showing a remarkable growth of 1,584.24% year-on-year[42]. - The company's operating costs increased by 160.48% to ¥1,301,640,491.02, primarily due to the growth in the environmental protection business[42]. - The company is actively expanding its business in waste incineration and sewage treatment, aiming to enhance its profitability and industry influence[36]. - The company secured new contracts in the new sanitation sector with a total annual contract value of ¥48,848,500[36]. - The company has obtained operating rights for over 20 waste incineration power projects in Henan province, aligning with the provincial policy to establish more than 60 such projects[38]. Investments and Acquisitions - The company’s investment in the Zhengzhou Qidi Zero Carbon Technology Co., Ltd. amounted to ¥1,008,000,000.00, with a 100% ownership stake[52]. - The acquisition of 100% equity in Zhengzhou Qidi Zero Carbon Technology Co., Ltd. was completed for a transaction price of 100,800.9 million, enhancing the company's capabilities in hazardous waste management[124]. - The company also acquired 95% equity in Wuhan Qidi Ecological Environmental Technology Co., Ltd. for 28,147.8 million, further expanding its environmental services portfolio[124]. - The company plans to conduct a share swap merger with Tsinghua Environment Technology Co., Ltd. and raise supporting funds through the issuance of A-shares[133]. Risk Management - The company has outlined potential risks and corresponding measures in its management discussion and analysis section[7]. - The company faces risks from potential changes in national industry policies, which could impact operations and profitability[64]. - The company aims to mitigate management risks associated with rapid business expansion by enhancing its management systems and internal controls[67]. Corporate Governance - The company does not plan to distribute cash dividends or issue bonus shares for this reporting period[7]. - The participation rate in the 2021 annual general meeting was 66.63%, indicating strong shareholder engagement[71]. - The company has no stock incentive plans, employee stock ownership plans, or other employee incentive measures in place during the reporting period[74]. - There were no overdue commitments or non-operating fund occupations by major shareholders during the reporting period[108]. - The company reported no violations regarding external guarantees during the reporting period[109]. Environmental and Social Responsibility - The company is classified as a key pollutant discharge unit by environmental protection authorities[78]. - The total annual emissions for SO2 are 26.54 tons and NOX are 139.5 tons, with the approved discharge limits being 55 tons/year for SO2 and 200 tons/year for NOX[78]. - The company actively engages in social responsibility activities, including public welfare initiatives for students and sanitation workers[104]. - The company conducted multiple community activities to promote waste classification awareness, significantly improving residents' understanding of waste sorting[105]. - The company held 6 professional training sessions in various fields, enhancing employee skills and compliance with labor laws[105].

Financial Performance - The company's operating revenue for Q1 2021 was ¥734,164,827.59, representing a 286.28% increase compared to ¥190,062,010.34 in the same period last year[10] - The net profit attributable to shareholders was ¥193,876,015.36, a significant turnaround from a loss of ¥100,921,602.08 in Q1 2020, marking a 291.39% increase[10] - The net cash flow from operating activities reached ¥99,200,244.93, a remarkable increase of 1,652.04% from a negative cash flow of ¥6,007,140.13 in the previous year[10] - Basic earnings per share were ¥0.3020, compared to a loss of ¥0.2033 per share in the same quarter last year, reflecting a 259.45% improvement[10] - Operating profit for the current period was ¥268,015,270.27, compared to a loss of ¥94,294,096.80 in the previous period, indicating a turnaround in profitability[66] - Net profit for the current period was ¥201,261,215.76, recovering from a net loss of ¥100,300,416.67 in the previous period[66] Assets and Liabilities - The total assets at the end of the reporting period were ¥14,321,824,703.94, up 6.16% from ¥13,299,211,681.63 at the end of the previous year[10] - The total assets increased to ¥6,955,077,463.67 from ¥5,852,267,077.84, reflecting a growth of approximately 18.8%[58] - Total liabilities amounted to CNY 8,839,783,451.08, up from CNY 8,188,358,542.64, reflecting an increase of about 7.9%[48] - Total liabilities rose to ¥2,707,317,162.57, up from ¥1,599,231,985.73, marking an increase of about 69.3%[58] - The company's total equity rose to CNY 5,482,041,252.86 from CNY 5,302,391,385.69, indicating an increase of approximately 3.4%[51] Cash Flow - The total cash inflow from operating activities was ¥561,315,248.40, compared to ¥253,310,620.19 in the previous period, reflecting an increase of approximately 121.5%[81] - The net cash flow from financing activities was ¥957,449,762.46, compared to ¥594,154,101.30 in the previous period, showing an increase of approximately 61.1%[84] - The net cash flow from operating activities was -6,898,178.22, compared to -2,547,126.87 in the previous period, indicating a decline in operational cash flow[85] - Cash inflow from financing activities reached 2,196,272,599.64, up from 873,936,789.23 in the previous period, reflecting increased financing efforts[88] Shareholder Information - The top shareholder, Henan Investment Group Co., Ltd., holds 56.47% of the shares, with a total of 362,579,146 shares[15] - The company did not engage in any repurchase transactions among the top shareholders during the reporting period[19] Government Support - The company received government subsidies amounting to ¥1,272,923.33 during the reporting period[10] Investments and Financing - The company issued short-term financing bonds totaling ¥1,975,223,414.53, a 133.80% increase from ¥844,847,927.03 in the previous period[23] - Long-term equity investments increased by 149.91% to ¥89,550,323.61 from ¥35,832,779.68, due to capital contributions to joint ventures[23] Other Financial Metrics - Research and development expenses were reported, although specific figures were not detailed in the provided data[63] - The company reported a significant increase in other income, amounting to ¥443,469.30, compared to ¥100,769.27 in the previous period[66] - Interest expenses for the current period were ¥7,530,739.63, up from ¥3,336,393.46 in the previous period, representing an increase of approximately 125.8%[70] Mergers and Acquisitions - The company plans to merge with Tsinghua Environment through a share swap and raise supporting funds, with ongoing uncertainties[27]