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]

Financial Performance - The company reported a total revenue of 1.2 billion RMB for the year 2020, representing a year-on-year increase of 15%[24]. - The net profit attributable to shareholders was 150 million RMB, an increase of 10% compared to the previous year[24]. - The company's operating revenue for 2020 was approximately CNY 3.39 billion, representing a 49.93% increase compared to 2019[30]. - The net profit attributable to shareholders for 2020 was approximately CNY 614.16 million, a decrease of 1.60% from the previous year[30]. - The net profit after deducting non-recurring gains and losses was approximately CNY 626.49 million, down 3.93% year-on-year[30]. - The net cash flow from operating activities decreased by 18.22% to approximately CNY 950.93 million[30]. - The total assets at the end of 2020 were approximately CNY 13.30 billion, an increase of 46.89% from the previous year[30]. - The net assets attributable to shareholders increased by 55.54% to approximately CNY 4.70 billion[30]. - The company achieved total operating revenue of ¥3,392,797,525.99 in 2020, representing a year-on-year increase of 49.93% compared to ¥2,262,975,204.28 in 2019[55]. - The net profit attributable to shareholders was ¥614,157,412.89, with a basic earnings per share of ¥1.0763[53]. Dividend Distribution - The company plans to distribute a cash dividend of 0.96 RMB per 10 shares, totaling approximately 61.5 million RMB[8]. - The company aims to achieve a cash dividend of 0.96 yuan per 10 shares for the 2020 fiscal year, based on a total share capital of 642,078,255 shares[111]. - The company plans to distribute a cash dividend of 0.96 yuan per 10 shares, totaling 61,639,512.48 yuan, which represents 10.04% of the net profit attributable to the parent company[112]. - The total number of shares for the dividend distribution is based on 642,078,255 shares[112]. - The distributable profit for the period is reported at 614,157,412.89 yuan[112]. - The company has maintained a consistent cash dividend payout ratio, with 10.04% of net profit allocated for dividends in 2020[111]. Market Expansion and Strategy - The company has set a revenue target of 1.5 billion RMB for 2021, reflecting a growth forecast of 25%[24]. - User data indicates a growth in customer base by 20%, reaching 500,000 active users by the end of 2020[24]. - The company is expanding its market presence in three new provinces, aiming to increase market share by 10% in these regions[24]. - A strategic acquisition of a local waste management firm is planned, which is expected to enhance service capabilities and increase revenue by 5%[24]. - The company is focusing on expanding its waste incineration power generation business and enhancing its profitability in the environmental sector[43]. - The company aims to expand its market presence nationally, marking 2020 as the first year of its nationwide strategy[53]. - The company is actively participating in multiple waste incineration power generation projects in Henan Province[43]. - The company is establishing a new sanitation division to expand its market presence and is implementing a market development incentive mechanism[101]. - The company aims to increase its international business presence, particularly in the "Belt and Road" countries, and is looking for acquisition opportunities in the European environmental sector[101]. Research and Development - The company has invested 100 million RMB in R&D for sustainable energy solutions, aiming for a 30% increase in efficiency[24]. - The company is committed to strengthening its research and development capabilities to enhance its core competitiveness in the environmental sector[96]. - The company plans to accelerate digital transformation with a focus on "high starting point planning and high-quality construction" to reduce management costs and improve efficiency[102]. Operational Efficiency and Management - The company has initiated 21 projects simultaneously, enhancing operational efficiency and project management standards[53]. - The company is focusing on enhancing team vitality through internal talent mobility and a results-oriented assessment mechanism[102]. - The company is committed to optimizing its operational mechanisms to enhance market responsiveness and employee capabilities[102]. - The company is focusing on enhancing operational management and risk control to improve project profitability[101]. Risks and Challenges - The management highlighted potential risks including regulatory changes and market competition, advising investors to remain cautious[8]. - The company has faced risks from potential changes in environmental protection policies, which could slow industry growth and impact future operations[103]. - The water services market is experiencing intensified competition, with major players like Beikong and Shouchuang capturing significant market share, posing challenges for the company's growth[103]. - The company anticipates challenges in highway project investments due to rising construction costs and unclear national policies regarding tolls and standards[106]. Related Party Transactions and Commitments - The company guarantees that any related party transactions will adhere to principles of openness, fairness, and justice, and will be conducted at fair market prices[123]. - The company ensures the independence of the listed company's operations, management, and financial systems, maintaining a clear separation from the parent company[126]. - The company will not utilize related party transactions to transfer benefits from the listed company or impose undue obligations[126]. - The company has committed to avoiding any business competition with Tongli Cement and its subsidiaries post-transaction, ensuring no direct or indirect competition arises[123]. - The company will ensure that the listed company has independent assets, personnel, qualifications, and capabilities to operate autonomously in the market[126]. - The company will maintain independent financial accounting systems and ensure the listed company has its own bank accounts and tax obligations[126]. - The company will ensure timely recovery of receivables arising from related transactions[135]. Environmental Initiatives - The company actively participated in social responsibility initiatives during the COVID-19 pandemic, with over 4,000 employees on duty at the peak[191]. - The company organized over 70 environmental awareness activities, achieving a 90% awareness rate and 80% participation rate among residents in trial areas[192]. - The waste incineration system has a processing capacity of 600 tons per day, utilizing two mechanical grate incinerators with a capacity of 300 tons per day each[200]. - The steam turbine generator set has a rated power of 12 MW[200]. - The leachate treatment scale is 240 cubic meters per day, employing an "anaerobic + MBR + nanofiltration + RO reverse osmosis" process[200]. - The cooling tower design has a cooling water capacity of 1500 cubic meters per hour, with a total of two units[200]. - The flue gas purification system utilizes a combination of "SNCR + semi-dry + dry + activated carbon injection + bag dust collection" technology[200]. - The chemical water system includes self-cleaning filters, ultrafiltration, two-stage reverse osmosis, and EDI systems[200].

河南城发环境股份有限公司 2020 年第三季度报告全文 河南城发环境股份有限公司 2020 年第三季度报告 a Galleria ( 4 行动员大发商人需要非公计会管生，灵马会大管家协会 ,教育、文章情缘是老板中发研究学习开 · 民营网络书:用 2020年10月 河南城发环境股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整,不存在虚假记载、误导性陈述或重大遗漏,并承担个别和连 带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人朱红兵、主管会计工作负责人苏长久及会计机构负责人(会计主 管人员)许世明声明:保证季度报告中财务报表的真实、准确、完整。 2 河南城发环境股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 √是□否 追溯调整或重述原因 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------ ...

Financial Performance - The company's operating revenue for the first half of 2020 was ¥716,242,073.59, a decrease of 32.10% compared to the same period last year[19]. - The net profit attributable to shareholders of the listed company was ¥30,513,723.88, down 90.97% year-on-year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥28,207,498.76, a decline of 91.64% compared to the previous year[19]. - The net cash flow from operating activities was ¥220,696,434.71, representing a decrease of 64.32% year-on-year[19]. - Basic earnings per share were ¥0.0615, down 90.97% from ¥0.6807 in the same period last year[19]. - The company reported a significant decline in both revenue and profit due to adverse market conditions[19]. - The company anticipates significant changes in operating performance due to potential losses or substantial fluctuations compared to the same period last year[52]. - The company is facing risks from changes in road toll policies, which may impact its operating performance[53]. Assets and Liabilities - Total assets at the end of the reporting period were ¥9,727,118,705.02, an increase of 7.43% compared to the end of the previous year[19]. - The net assets attributable to shareholders of the listed company were ¥2,961,010,295.51, a decrease of 2.00% from the previous year[19]. - The company's total liabilities reached CNY 6,342,540,250.77, compared to CNY 5,669,632,220.52 at the end of 2019, indicating an increase of about 11.9%[147]. - Long-term borrowings rose significantly to CNY 3,265,507,751.58 from CNY 2,561,575,484.99, reflecting an increase of approximately 27.5%[147]. Investment and Projects - The company is actively developing multiple projects, including solid waste, water services, and new sanitation projects, and has won bids for waste incineration power generation projects in various cities[36]. - The company’s total investment during the reporting period was ¥972,138,738.93, a substantial increase of 420.12% from ¥186,905,295.13 in the same period last year[47]. - The company is focusing on expanding its infrastructure investment into waste incineration power generation and sewage treatment, enhancing its profitability and core competitiveness[28]. Strategic Adjustments - The company has acknowledged the need for strategic adjustments in response to the current economic environment[19]. - The company is committed to enhancing its core competitiveness and advancing project construction in the environmental technology sector[54]. - The company is focusing on proactive research of industry policies and increasing talent investment to improve its operational capabilities[54]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company held several shareholder meetings with participation rates of 65.93% and 56.26% for different meetings[57]. - The company has committed to ensuring the independence of the listed company's operations, management, and financial systems[63]. Market and Competition - The company is experiencing intensified competition in the environmental protection industry from state-owned enterprises and foreign giants[54]. - The company is focused on eliminating industry competition to expand its business development[89]. Financial Guidance and Outlook - The management provided a positive outlook for the upcoming quarters, anticipating continued revenue growth across all segments[84]. - The financial guidance for the next period indicates a projected revenue growth of approximately 10%[84]. Compliance and Regulations - The company has not violated any commitments related to major asset restructuring as of the reporting period[58]. - The company has not reported any changes in accounting policies or estimates during the reporting period[185]. - The financial report for the first half of 2020 was not audited[142].

Financial Performance - The company's operating revenue for Q1 2020 was ¥190,062,010.34, a decrease of 58.22% compared to the same period last year[9] - The net profit attributable to shareholders was -¥100,921,602.08, representing a decline of 169.29% year-over-year[9] - Basic and diluted earnings per share were both -¥0.2033, a decrease of 169.29% compared to the same period last year[9] - Total revenue for Q1 2020 decreased by 58.22% to ¥190,062,010.34 compared to ¥454,920,438.63 in Q1 2019, primarily due to the impact of the highway toll exemption policy[21] - Cash received from sales of goods and services dropped by 52.8% to ¥229,079,718.10 from ¥485,324,855.99 in the same period last year, also affected by the highway toll exemption[21] - The company expects a net loss of ¥45 million to ¥25 million for the first half of 2020, a significant decline compared to a profit of ¥33,789.91 million in the same period last year[27] - The net profit for the current period is a loss of ¥99,876,557.84, compared to a profit of ¥145,888,048.49 in the previous period, reflecting a significant decline[62] - The company has incurred a loss of ¥100,921,602.08 attributable to the parent company, compared to a profit of ¥145,647,247.15 in the previous period[64] - The total comprehensive income for the current period is -99,876,557.84, compared to 145,888,048.49 in the previous period, indicating a substantial decline[64] Cash Flow - The net cash flow from operating activities was -¥6,007,140.13, down 102.73% from the previous year[9] - The company’s cash flow from operating activities remains a critical area for future improvement, as indicated by the current financial performance metrics[62] - Cash inflow from operating activities totaled 253,295,858.49, down from 497,602,009.72 in the previous period[73] - The net cash flow from operating activities is -6,007,140.13, a significant decline from 220,048,202.18 in the previous period[77] - The net cash flow from financing activities is 578,156,386.58, a recovery from -83,313,338.59 in the previous period[79] - The company received cash from borrowings totaling 827,847,927.03, compared to 119,900,000.00 in the previous period, indicating increased financing activity[79] Assets and Liabilities - The total assets at the end of the reporting period were ¥9,179,017,846.54, an increase of 1.38% from the end of the previous year[9] - The net assets attributable to shareholders decreased by 4.28% to ¥2,892,119,091.86 compared to the end of the previous year[9] - Total liabilities increased from ¥5.91 billion to ¥5.67 billion, an increase of 4.2%[46] - Total equity attributable to shareholders decreased from ¥2.89 billion to ¥3.02 billion, a decrease of 4.4%[49] - Long-term borrowings increased from ¥2.92 billion to ¥2.56 billion, an increase of 14.2%[46] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 32,989[13] - The largest shareholder, Henan Investment Group Co., Ltd., held 56.19% of the shares[13] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[18] Government Support and Regulations - The company received government subsidies amounting to ¥417,750.00 during the reporting period[9] - The company has received approval from the China Securities Regulatory Commission for its public offering of shares, although formal approval documents are still pending[25] Investment and Expenditures - The company reported a 224.3% increase in cash paid for acquiring fixed assets, intangible assets, and other long-term assets, totaling ¥394,922,916.62, due to increased expenditures on solid waste power generation projects[21] - Cash outflow from investing activities reached 443,910,466.48, compared to 241,250,130.34 in the previous period, indicating increased investment[77] Inventory and Current Assets - Inventory rose by 48.16% to ¥11,750,297.23 from ¥7,930,603.78, mainly due to the procurement of unsold sewage treatment equipment by subsidiaries[21] - Other current assets increased by 44.73% to ¥73,207,454.84 from ¥50,581,248.38, primarily due to an increase in deductible and certified input tax[21] Financial Standards and Audits - The company did not apply the new revenue and lease standards for the first quarter of 2020, as indicated in the financial statement adjustments[84] - The first quarter report for 2020 was not audited, which may affect the reliability of the financial data presented[86]

Financial Performance - The company's operating revenue for 2019 was CNY 2,262,975,204.28, representing an increase of 11.58% compared to the previous year[21]. - The net profit attributable to shareholders for 2019 was CNY 624,135,537.90, reflecting a growth of 7.40% year-on-year[21]. - The net profit after deducting non-recurring gains and losses was CNY 652,107,229.39, which is a 9.47% increase from the previous year[21]. - The net cash flow from operating activities was CNY 1,185,869,069.36, showing a decrease of 4.27% compared to 2018[21]. - The total assets at the end of 2019 amounted to CNY 8,997,503,679.99, an increase of 7.68% from the previous year[21]. - The net assets attributable to shareholders reached CNY 2,993,071,283.74, marking a 13.71% increase year-on-year[21]. - The basic earnings per share for 2019 was CNY 1.2574, up by 7.41% from the previous year[21]. - The weighted average return on equity was 21.62%, down from 27.03% in 2018, indicating a decrease of 5.26%[21]. - The company reported a decrease in financial expenses by 14.14%, amounting to ¥166,106,238.81 due to reduced interest-bearing liabilities[55]. - The company reported a revenue of 621.01 million with a significant increase of 22.31% in service income compared to the previous year[147]. Business Operations - The company has expanded its main business to include urban infrastructure construction, focusing on waste incineration power generation and municipal sewage treatment[18]. - The company underwent significant asset restructuring in 2017, transitioning its main operations from cement production to highway operation and environmental services[18]. - The company has established a comprehensive environmental service portfolio, including solid waste treatment and new sanitation services[18]. - The company expanded its business into waste incineration power generation and sewage treatment, enhancing its profitability and core competitiveness[31]. - The company managed a total of 255 kilometers of highway operations, receiving national recognition for service quality[31]. - The company plans to expand its waste incineration projects and actively explore international markets along the Belt and Road Initiative[39]. - The company is accelerating the construction and operation of existing water projects while exploring new projects in other regions and actively expanding into markets outside the province[88]. - The company aims to enhance risk prevention capabilities by conducting research on policies and business models related to new sanitation and waste classification[90]. - The company is facing potential risks from changes in highway industry policies, which could negatively impact its highway operations[91]. - The company is also exposed to risks from changes in subsidy policies for waste-to-energy projects, which are crucial for its revenue[91]. Shareholder Information - The company reported a cash dividend of 1.26 CNY per 10 shares, based on a total of 496,381,983 shares, with no stock bonus issued[4]. - The largest shareholder, Henan Investment Group Co., Ltd., holds 56.19% of the shares, totaling 278,907,035 shares, with 120,000,000 shares pledged[190]. - The second largest shareholder, China United Cement Group Co., Ltd., holds 9.67% of the shares, totaling 48,000,000 shares[190]. - The company has 35,807 ordinary shareholders at the end of the reporting period, an increase from 32,989 at the previous month-end[190]. Investments and Acquisitions - The company completed the acquisition of shares in Huai County Chengfa Company for a total price of 8.37 million, with a book value of 8.3678 million[150]. - The acquisition of shares in Jiyuan Linlin Company was completed for 142.68 million, with an assessed value of 140.67 million[150]. - The company approved a cash acquisition of 51% equity in Huai County Urban Development Investment Co., Ltd. for RMB 8.373 million on January 14, 2019[154]. - A cash investment of RMB 79 million was approved on February 20, 2019, to establish Chengfa Environmental Energy (Runan) Co., Ltd. in partnership with Ru'nan Tianzhong Investment Co., Ltd. and Luoyang Urban Construction Survey and Design Institute[154]. - On February 28, 2019, the company approved a cash investment of RMB 91.403 million to establish Chengfa Environmental Energy (Dengzhou) Co., Ltd. with Shanghai Kangheng Environment Co., Ltd.[154]. - A cash investment of RMB 89 million was approved on June 14, 2019, to establish Chengfa Environmental Energy (Xiping) Co., Ltd. in collaboration with Xiping Baiguo Urban Construction Development Co., Ltd.[154]. - The company approved a cash acquisition of 100% equity in Jiyuan Linlin Environmental Energy Co., Ltd. for RMB 140.6792 million on December 9, 2019[154]. - A total contract amount of RMB 351.5898 million was approved for the general contracting of the waste incineration power generation project in Huai County on December 9, 2019[154]. - The company was awarded the technical consulting service project for the waste incineration power generation in Huai County on December 16, 2019[154]. Regulatory Compliance and Governance - The company has committed to transparency by disclosing its financial reports through designated media and regulatory websites[16]. - The company guarantees the authenticity, accuracy, and completeness of the information provided during the major asset restructuring process[106]. - The company has committed to maintaining an independent financial accounting system and ensuring independent financial management practices[110]. - The company will not engage in any competitive activities with the listed company and will ensure that the listed company operates independently[110]. - The company has committed to fully subscribe to the shares available for subscription in the current placement, with funds sourced from its own or self-raised capital[118]. - The financial report reflects compliance with the revised accounting standards issued by the Ministry of Finance in 2019[129]. - The company has ensured that all funds for the subscription of shares in the current placement are legally sourced and not from related parties[118]. - The company has appointed Da Xin Accounting Firm as the auditor, with an audit fee of 660,000 RMB, and has maintained this auditor for six years[134]. Market and Industry Outlook - The infrastructure sector contributed CNY 200,513,594.47, accounting for 8.86% of total revenue, with a growth of 16.31%[43]. - The environmental protection sector generated CNY 65,805,192.27, representing 2.91% of total revenue[45]. - 河南省将新建60余个静脉产业园垃圾焚烧发电项目，行业前景广阔[84]. - 河南省高速公路网规划到2030年将达到约10,050公里，为基础设施建设带来新的机遇[81]. - The company will ensure that related transactions do not affect the operational independence and performance stability of Tongli Cement[113].

Financial Performance - Net profit attributable to shareholders increased by 46.52% to CNY 218,561,503.32 for the reporting period[7] - Operating revenue rose by 33.43% to CNY 638,947,537.59 for the reporting period[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 41.22% to CNY 237,429,269.58[7] - Basic earnings per share increased by 46.52% to CNY 0.4403 for the reporting period[7] - Net profit for the quarter was CNY 224,322,427.22, representing a 45.5% increase from CNY 154,161,978.75 in the previous year[47] - Total operating revenue for the third quarter reached CNY 638,947,537.59, an increase of 33.5% compared to CNY 478,879,485.53 in the same period last year[46] - Net profit for the period was CNY 567,619,924.74, compared to CNY 445,980,583.69 in the previous period, representing a growth of 27.3%[54] - The total comprehensive income for the period was CNY 567,619,924.74, compared to CNY 445,980,583.69 in the previous period, indicating a growth of 27.3%[56] Assets and Liabilities - Total assets increased by 2.38% to CNY 8,338,234,933.80 compared to the end of the previous year[7] - The total assets of the company as of September 30, 2019, were ¥644,222,243.02, down from ¥696,908,026.69 at the beginning of the year[35] - Current liabilities decreased to CNY 2,205,792,015.82 from CNY 2,218,888,447.69, a reduction of about 0.59%[38] - Long-term borrowings decreased significantly to CNY 2,341,208,898.08 from CNY 2,644,595,301.26, a decline of approximately 11.45%[39] - Total liabilities decreased to CNY 5,111,340,075.86 from CNY 5,498,577,276.67, a decrease of about 7.05%[39] - The company's equity attributable to shareholders increased to CNY 2,927,936,775.60 from CNY 2,494,017,037.31, reflecting a growth of approximately 17.43%[39] - Total liabilities amounted to CNY 5,498,577,276.67, with current liabilities at CNY 2,218,888,447.69 and non-current liabilities at CNY 3,279,688,828.98[75] Cash Flow - The net cash flow from operating activities reached CNY 949,407,920.32, an increase of 14.59% compared to the previous year[7] - The company's cash flow from operating activities showed a significant increase, with cash paid for goods and services rising by 67.86% to ¥270,890,263.23 from ¥161,379,669.80[23] - Cash flow from operating activities was ¥949,407,920.32, an increase from ¥828,508,347.93 in the previous period, representing a growth of about 15%[65] - The company reported a cash flow net increase of -147,962,360.44 yuan for the period[70] Investments and Other Income - Long-term equity investments increased by 55.40% to ¥39,858,705.45 from ¥25,649,597.77 as the company invested in newly established subsidiaries[21] - The company reported a government subsidy of CNY 1,273,749.98 during the reporting period[7] - The company reported a 2,326.19% increase in other income to ¥1,273,749.98 from ¥52,499.97, due to amortization of central infrastructure special funds[23] - Cash received from investment returns increased by 41.44% to ¥42,478,944.14 from ¥30,034,121.23, based on contractual interest from BT projects[25] - The company received investment income of 1,084,899,690.34 yuan during the reporting period[70] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 37,242[12] - The company reported a rise in unallocated profits to CNY 1,970,670,887.06 from CNY 1,527,626,462.40, a growth of about 29.05%[39]

Financial Performance - The company's operating revenue for the reporting period was CNY 1,054,919,592.81, representing a 13.52% increase compared to CNY 929,271,628.20 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 337,899,091.06, an increase of 17.57% from CNY 287,589,743.78 in the previous year[19]. - The net cash flow from operating activities was CNY 618,483,921.45, reflecting a 14.74% increase compared to CNY 539,074,490.01 in the same period last year[19]. - Basic earnings per share were CNY 0.6807, up 17.56% from CNY 0.5794 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was CNY 337,349,957.38, which is a 17.51% increase from CNY 287,293,311.37 in the previous year[19]. - The total profit amounted to CNY 463,769,466.19, compared to CNY 395,277,608.43 in the same period last year, reflecting an increase of about 17.3%[149]. - The net profit for the period was CNY 343,297,497.52, up from CNY 291,818,604.94, indicating a rise of approximately 17.6%[149]. - Operating profit reached CNY 463,606,634.49, an increase from CNY 395,412,204.34, which is a growth of approximately 17.3%[149]. - The company's financial performance indicates a strong upward trend in profitability and efficiency compared to the previous year[149]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 8,121,756,674.26, a slight decrease of 0.28% from CNY 8,127,172,653.98 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased by 8.63% to CNY 2,709,375,272.28 from CNY 2,485,940,300.29 at the end of the previous year[19]. - The company's total liabilities at the end of the reporting period were CNY 1.29 billion, which is an increase from CNY 1.10 billion in the previous period[167]. - The total liabilities as of June 30, 2019, were CNY 5,122,784,243.54, down from CNY 5,498,577,276.67 at the end of 2018, indicating a decrease of about 6.8%[141]. - The company's long-term borrowings decreased to RMB 2,467,519,468.47, which is 30.38% of total assets, down by 3.15% year-on-year[42]. Cash Flow - The total cash inflow from operating activities for the first half of 2019 was CNY 1,109,321,504.23, an increase from CNY 964,097,534.34 in the same period of 2018, representing a growth of approximately 15.06%[158]. - The cash outflow from investing activities totaled CNY 384,405,179.90, a significant decrease from CNY 775,776,156.36 in the previous year, reflecting a reduction of approximately 50.55%[159]. - The net cash flow from investing activities was negative at CNY -224,097,066.68, improving from CNY -666,567,165.84 in the first half of 2018[159]. - The cash inflow from financing activities was CNY 269,107,917.66, down from CNY 610,404,000.00 in the same period last year, a decline of about 55.80%[159]. - The net cash flow from financing activities was CNY -451,895,882.04, compared to a positive CNY 49,980,974.32 in the first half of 2018, indicating a significant shift in financing dynamics[159]. Investment and Expansion - The company plans to publicly issue shares to reduce its debt ratio and supplement working capital, with the process currently proceeding as planned[34]. - The company has successfully won bids for several waste incineration power generation projects in various locations, laying a solid foundation for future development in the environmental sector[34]. - The company is actively participating in the three-year action plan for the construction of the "Vascular Industry Park" in Henan Province, which is expected to lead to the establishment of over 60 waste incineration power generation projects by 2020[30]. - The company reported a significant increase in investment, with a total of RMB 186,905,295.13, representing a 644.39% increase compared to the same period last year[48]. - The company is exploring potential mergers and acquisitions to accelerate growth and market penetration[166]. Shareholder and Dividend Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The total number of shares remained unchanged at 496,381,983, with no new shares issued or other changes during the reporting period[109]. - The total number of common shareholders at the end of the reporting period was 37,865, with the largest shareholder, Henan Investment Group Co., Ltd., holding 56.19% of shares, totaling 278,907,035 shares[114]. - The company did not distribute cash dividends or bonus shares during the reporting period[64]. Legal and Compliance Issues - The company is involved in a significant lawsuit with a claim amount of 14,396.7 million RMB, which is currently under execution[69]. - The company reported a debt of CNY 111 million and interest of CNY 32.967 million owed to Yimai Coal Group, with interest calculated from January 1, 2014, until the debt is fully repaid[73]. - The company has no significant impact on profits from the ongoing lawsuit related to the asset swap agreement signed in 2017 with Henan Investment Group[73]. - There were no penalties or rectifications during the reporting period[75]. Financial Reporting and Accounting Policies - The company operates under the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect a true and complete picture of its financial status[182]. - The company includes all subsidiaries in the consolidated financial statements, including controlled entities and separable parts of invested units[187]. - The company adopts unified accounting policies and periods for consolidated financial statements, ensuring consistency across subsidiaries[187]. - The company recognizes goodwill when the merger cost exceeds the fair value of identifiable net assets acquired in non-common control mergers[186].