Financial Performance - The company reported a revenue of ¥371,680,169.16, representing a 66.45% increase compared to the same period last year[19]. - The net profit attributable to shareholders was a loss of ¥27,633,338.41, which is a 68.62% increase in losses year-over-year[19]. - The net cash flow from operating activities improved to ¥11,282,598.87, a 117.74% increase compared to the previous year[19]. - The total operating revenue for the first half of 2022 reached ¥371,680,169.16, a significant increase of 66.5% compared to ¥223,301,338.45 in the same period of 2021[118]. - The operating loss for the first half of 2022 was ¥10,366,050.89, an improvement from a loss of ¥16,403,657.59 in the first half of 2021[119]. - Net loss for the first half of 2022 was ¥15,103,726.66, compared to a net loss of ¥16,388,256.97 in the same period last year, indicating a narrowing of losses[119]. - The company reported a total comprehensive loss of ¥16,839,226.66 for the first half of 2022, compared to a comprehensive loss of ¥16,388,256.97 in the previous year[120]. - The company experienced a significant increase in financial expenses, totaling ¥36,363,195.66, compared to ¥22,387,449.61 in the first half of 2021[119]. Assets and Liabilities - The total assets decreased by 3.64% to ¥1,890,603,332.50 compared to the end of the previous year[19]. - The company's equity attributable to shareholders decreased from CNY 49,304,456.82 to CNY 19,935,618.41, a decline of about 59.6%[112]. - Total liabilities increased from CNY 1,738,663,662.29 to CNY 1,683,994,908.16, a decrease of about 3.1%[112]. - The company's total liabilities decreased to ¥820,898,253.39 from ¥976,899,062.86, a reduction of approximately 16%[116]. - Current assets decreased from CNY 844,640,542.81 on January 1, 2022, to CNY 762,588,628.89 by June 30, 2022, representing a decline of approximately 9.7%[110]. Business Segments - The metal products business generated revenue of ¥14,726.82, a decrease of 34.05% due to asset disposals and operational pressures from COVID-19 and environmental policies[27]. - The environmental business, primarily conducted by the subsidiary Guantaiyuan, focuses on high-difficulty wastewater treatment and was recognized as a "little giant" enterprise by the Ministry of Industry and Information Technology[27]. - Jiangsu Farsen's operating revenue reached 371.68 million yuan, a significant increase of 66.45% compared to 223.30 million yuan in the previous year, primarily due to the expansion of the environmental protection business[32]. - The gross profit margin for the environmental protection business was 26.82%, indicating strong profitability in this segment[36]. Research and Development - Research and development investment for Jiangsu Farsen was 7.29 million yuan, marking a 100% increase compared to the previous period[32]. - Guangtaiyuan has established partnerships with several national research institutions and universities to enhance its R&D capabilities[29]. - The company is actively exploring new business areas such as landfill remediation and sludge treatment, leveraging its research collaboration with universities[28]. Cash Flow and Financing - The net cash flow from operating activities for the first half of 2022 was ¥11,282,598.87, a significant improvement compared to a net outflow of ¥63,617,442.87 in the same period of 2021[124]. - Cash inflow from financing activities was ¥700,528,612.05, compared to ¥645,987,600.00 in the same period of 2021, indicating a growth of about 8.4%[125]. - The company reported a net cash outflow from investing activities of ¥14,702,026.52, an improvement from a net outflow of ¥227,725,340.54 in the first half of 2021[125]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 22,954[96]. - The largest shareholder, Farsen Hongsheng Group, holds 28.82% of shares, totaling 120,892,486 shares[96]. - The company completed the issuance of 39,862,368 new shares to its controlling shareholder, which were released from restrictions on June 20, 2022[93]. Environmental Management - The company has a wastewater treatment station that processes production wastewater to meet standards before discharging it to a centralized treatment facility, with a total discharge volume of 35,010 tons per year[57]. - The company has implemented a pollution prevention facility for acidic waste gas, which is treated to meet standards before being released, and has purchased large dust suppression vehicles for full coverage of the factory area[57]. - The company received its pollution discharge permit in 2020, with the permit number 91320281746247819J001X[58]. - The company has a blue environmental credit rating and has taken measures to reduce carbon emissions[58]. Risks and Challenges - The company faces market competition risks due to numerous small enterprises in the metal products industry, impacting pricing and profit margins[47]. - The company is exposed to raw material price fluctuation risks, which could affect operational results[47]. - Environmental risks are present due to the production processes involving hazardous waste, necessitating enhanced environmental management[48]. - The company has a significant goodwill risk following the acquisition of Dalian Guangtaiyuan Environmental Technology Co., which requires annual impairment testing[48]. Related Party Transactions - Jiangsu Far East Group reported a total of 2,295.4 million yuan in related party transactions, accounting for 89.37% of the approved transaction amount of 1,200 million yuan[71]. - The company engaged in related party transactions for raw materials with a transaction amount of 122.2 million yuan, representing 4.76% of similar transactions[71]. - The company has established fair pricing principles based on market prices for all related party transactions[71]. Corporate Governance - There were no changes in the board of directors or senior management during the reporting period[52]. - The company has not implemented any employee stock ownership or incentive plans during the reporting period[54]. - The semi-annual financial report has not been audited[65].

江苏法尔胜股份有限公司 2022 年第一季度报告 证券代码：000890 证券简称：法尔胜 公告编号：2022-022 江苏法尔胜股份有限公司 2022 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、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。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度 报告中财务信息的真实、准确、完整。 3.第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (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 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 187,386,680.66 | 119,769,655.92 | 56.46% | | 归属于上市公司股东的净利润（元） | -13,088,647.11 | 3,013,057.5 ...

Financial Performance - The company's operating revenue for 2021 was CNY 667,468,092.57, representing a 42.91% increase compared to CNY 467,058,989.47 in 2020[20] - The net profit attributable to shareholders for 2021 was CNY 40,014,405.47, a significant increase of 150.79% from CNY 15,955,439.93 in 2020[20] - The basic earnings per share for 2021 was CNY 0.10, reflecting a 150.00% increase from CNY 0.04 in 2020[21] - The total assets at the end of 2021 amounted to CNY 1,962,111,313.29, which is an increase of 111.79% from CNY 926,424,250.02 at the end of 2020[21] - The net assets attributable to shareholders increased by 196.58% to CNY 49,304,456.82 at the end of 2021, compared to CNY 16,624,494.80 at the end of 2020[21] - The company reported a net cash flow from operating activities of CNY -163,650,562.14 in 2021, a decrease of 107.95% from CNY 2,058,155,223.24 in 2020[21] - The company’s weighted average return on equity for 2021 was 87.91%, a significant improvement from 0.00% in 2020[21] - The revenue from main business activities after deductions was CNY 649,051,512.82 in 2021, compared to CNY 444,197,317.11 in 2020[21] Cash Flow and Investments - The company reported a net cash flow from operating activities of ¥46,836,338.25 in Q4 2021, contrasting with a negative cash flow of ¥146,869,457.52 in Q3 2021[26] - The company reported a significant increase in management expenses by 30.02% to CNY 39,610,570.86, attributed to the same reason as above[50] - Investment cash inflow decreased by 71.20% to ¥184,118,725.93 in 2021 from ¥639,331,061.02 in 2020[54] - Investment cash outflow surged by 919.85% to ¥378,319,242.79 in 2021, compared to ¥37,095,740.60 in 2020[54] - Financing cash inflow decreased by 40.84% to ¥1,330,232,221.50 in 2021 from ¥2,248,523,223.52 in 2020[55] Acquisitions and Business Expansion - The company completed a significant acquisition of 51% stake in Guotaiyuan in June 2021, enhancing its capabilities in high-difficulty wastewater treatment[32] - The company completed the acquisition of 51% of Dalian Guotaiyuan Environmental Technology Co., Ltd. for CNY 45.9 million, expanding its environmental business[45] - The company is actively pursuing the acquisition of an additional 49% stake in Guangtai to further enhance its main business profitability[77] - The company aims to expand its environmental industry operations, including waste treatment and ecological restoration, to leverage competitive advantages and extend its service offerings[78] Revenue Breakdown - Revenue from metal products was CNY 394,235,611.91, accounting for 59.06% of total revenue, while environmental business revenue was CNY 273,232,480.66, making up 40.94%[39] - Domestic sales reached CNY 644,514,648.92, which is 96.56% of total sales, showing a 43.47% increase from CNY 449,225,217.27 in 2020[39] Research and Development - Research and development (R&D) investment amounted to ¥3,678,727.61 in 2021, a significant increase from ¥0.00 in 2020[53] - R&D investment accounted for 0.55% of total revenue in 2021, compared to 0.00% in 2020[53] - The number of R&D personnel increased to 37 in 2021, representing 9.34% of the total workforce[52] Governance and Compliance - The company has established a comprehensive internal control system to ensure compliance with governance standards and protect the interests of minority shareholders[81] - The company operates independently with a complete business system, making autonomous decisions and bearing its own profits and losses[83] - The company has maintained a stable board of directors and management team, with no resignations or dismissals reported during the term[87] - The company has a diverse board with independent directors from various professional backgrounds, enhancing governance and oversight[90] Environmental and Social Responsibility - The company has implemented measures to enhance environmental protection, including the installation of dust suppression equipment[126] - The company received a fine of 30,000 yuan for non-compliance with its pollution discharge permit, but it reported no significant impact on operations[126] - The company emphasizes its commitment to social responsibility and timely information disclosure to shareholders, particularly small investors[126] Shareholder Information - The total number of shares is 419,503,968, with 39,875,290 shares (9.51%) under limited sale conditions and 379,628,678 shares (90.49%) under unrestricted sale conditions[174] - The largest shareholder, Farsen Hongsheng Group Co., Ltd., holds 28.82% of the shares, totaling 120,892,486 shares[176] - The company has not issued any new shares or conducted any capital increases during the reporting period[175] Audit and Financial Reporting - The company reported a standard unqualified audit opinion for the financial statements as of December 31, 2021, indicating fair representation of its financial condition and results[191] - The audit report confirmed that there were no significant misstatements in the other information provided in the annual report[199] - The audit identified revenue recognition related to environmental income as a key audit matter due to inherent risks of manipulation to meet targets[195]

Financial Performance - The company's operating revenue for Q3 2021 was ¥253,565,852.83, representing a 96.79% increase year-over-year[4] - The net profit attributable to shareholders was ¥445,667.19, a decrease of 89.92% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥480,818.43, an increase of 105.16% year-over-year[4] - Total operating revenue for the current period reached ¥476,867,191.28, an increase of 26.8% compared to ¥375,925,139.27 in the previous period[18] - Operating profit for the current period was ¥17,870,202.91, down 28.5% from ¥25,015,789.21 in the previous period[19] - Net profit for the current period was ¥8,084,078.41, a decrease of 46.2% compared to ¥15,022,755.58 in the previous period[20] - Basic and diluted earnings per share were both -0.0380, compared to 0.0396 in the previous period, reflecting a significant decline[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,060,228,275.15, reflecting a 122.38% increase from the end of the previous year[4] - Total liabilities reached CNY 1,890,693,086.05, compared to CNY 909,799,755.22 at the end of 2020, marking an increase of about 107.5%[16] - The company's total assets were reported at CNY 2,060,228,275.15, up from CNY 926,424,250.02, reflecting a growth of approximately 122.9%[16] - The total equity attributable to the parent company was CNY 681,905.02, a decrease from CNY 16,624,494.80, indicating a decline of about 95.9%[16] Cash Flow - The cash flow from operating activities showed a net outflow of ¥210,486,900.39, a decrease of 109.51% compared to the previous year[9] - Cash flow from operating activities showed a net outflow of ¥210,486,900.39, contrasting with a net inflow of ¥2,213,434,057.29 in the previous period[23] - Cash flow from investing activities resulted in a net outflow of ¥321,982,936.20, compared to a net inflow of ¥403,918,059.52 in the previous period[23] - Cash flow from financing activities generated a net inflow of ¥452,760,048.21, a recovery from a net outflow of ¥2,629,856,638.31 in the previous period[23] - The ending cash and cash equivalents balance was ¥70,516,869.35, down from ¥196,434,731.92 in the previous period[23] Inventory and Receivables - Accounts receivable increased by 135.72% to ¥253,681,888.14 due to the consolidation of non-similar controlled enterprises[8] - Inventory surged by 419.87% to ¥228,013,895.69, primarily due to the increase in the scope of consolidation[8] - Accounts receivable increased significantly to CNY 253,681,888.14 from CNY 107,621,917.18, representing a growth of about 135.5% year-over-year[14] - Inventory surged to CNY 228,013,895.69, up from CNY 43,859,667.06, indicating an increase of approximately 420.5% compared to the previous year[14] Shareholder Information - The company had a total of 22,720 common shareholders at the end of the reporting period[11] - The largest shareholder, Farshing Hongsheng Group, held 28.82% of the shares, amounting to 120,892,486 shares, with 39,862,368 shares pledged[11] Future Outlook and Strategic Initiatives - Future outlook indicates a projected revenue growth of 20% for the next quarter, aiming for 1.44 billion RMB[26] - The company is investing 50 million RMB in R&D for new product development in the upcoming year[26] - Market expansion plans include entering two new provinces, targeting an additional 300,000 users[26] - The company is exploring potential acquisitions to enhance its market position, with a budget of 200 million RMB allocated for this purpose[26] - New technology initiatives are expected to reduce production costs by 15% over the next year[26] - The company plans to launch a new product line in Q1 2022, projected to contribute an additional 100 million RMB in revenue[26] - Strategic partnerships are being formed to enhance distribution channels, aiming for a 30% increase in market reach[26]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥223,301,338.45, a decrease of 9.62% compared to ¥247,073,445.15 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was a loss of ¥16,388,256.97, representing a decline of 254.62% from a profit of ¥10,599,384.94 in the previous year[19]. - The net cash flow from operating activities was -¥63,617,442.87, a significant drop of 102.89% compared to ¥2,204,787,348.50 in the same period last year[19]. - The basic earnings per share were -¥0.04, down 233.33% from ¥0.03 in the previous year[19]. - The company reported a weighted average return on net assets of -194.40%, a decline of 201.81% from 7.41% in the previous year[19]. - The company reported a significant increase in sales expenses, rising to CNY 236.24 million from CNY 127.08 million year-over-year[131]. - The company reported a comprehensive income loss of -16,388,256.97 CNY during the current period[144]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥2,062,234,077.58, an increase of 122.60% from ¥926,424,250.02 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company were ¥236,237.83, a decrease of 98.58% from ¥16,624,494.80 at the end of the previous year[19]. - The total liabilities increased to CNY 1,917,171,223.86 from CNY 909,799,755.22, reflecting a rise of approximately 110.7%[121]. - The company's short-term borrowings increased to CNY 987,400,196.54 from CNY 660,513,441.59, which is an increase of approximately 49.3%[120]. - The total equity attributable to the parent company decreased to CNY 236,237.83 from CNY 16,624,494.80, indicating a decline of about 98.6%[122]. Acquisitions and Investments - The company completed the acquisition of 51% equity in Guantaiyuan, which has become a subsidiary, focusing on the development and management of waste leachate treatment equipment[27]. - Jiangsu Farsheng Co., Ltd. reported a significant acquisition of 51% stake in Dalian Guotaiyuan Environmental Technology Co., Ltd., which is expected to enhance the company's asset scale and business scope[47]. - The company completed the acquisition of 51% equity in Dalian Guantaiyuan Environmental Technology Co., Ltd. for a total price of 45.9 million RMB[99]. Market and Competition - The company is facing market competition risks due to numerous small enterprises in the metal products industry, which significantly impacts pricing and profit margins[48]. - To mitigate risks, the company is adjusting marketing strategies, controlling production capacity, and enhancing equipment efficiency to improve competitiveness[49]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities, with a total wastewater discharge of 35,010 tons per year, which is within the permitted limits[58]. - The company has established a wastewater treatment station and has implemented measures for the treatment of acidic and dust-laden exhaust gases to ensure compliance with environmental standards[58]. - The company received a fine of 30,000 yuan for non-compliance with the pollutant discharge permit regarding the setting of exhaust outlets, but this did not significantly impact normal production operations[59]. - The company has a blue environmental credit rating, indicating a satisfactory level of environmental responsibility[59]. Corporate Governance - The company held its annual general meeting with a participation rate of 42.55% on April 16, 2021, reflecting shareholder engagement in corporate governance[53]. - The company has established a sound corporate governance structure to provide institutional support for its development[66]. - The management team is committed to ensuring that the company does not engage in unfair practices that could harm its interests or those of its shareholders[68]. - The company emphasizes the importance of an independent governance structure to protect the rights of investors, especially minority shareholders[68]. Future Outlook - Future performance guidance indicates a positive outlook with expected revenue growth across various segments[82]. - The company is focusing on improving operational efficiency and reducing losses in the upcoming quarters[132]. - The company anticipates continued growth in user data and market expansion strategies in the upcoming quarters[82]. Related Party Transactions - The company reported a revenue of 138.12 million yuan from related party transactions, accounting for 2.09% of the total similar transactions[79]. - The company engaged in related party transactions with Jiangyin Farsen, resulting in a revenue of 25.97 million yuan, representing 0.39% of the total similar transactions[79]. - The company also reported 273.23 million yuan from related party transactions with Hongsheng Stainless Steel, which accounted for 4.14% of the total similar transactions[79]. Financial Reporting - The semi-annual financial report was not audited[76]. - The company’s financial statements reflect a cautious approach to capital management amid market uncertainties[160]. - The company’s financial reports comply with the requirements of the enterprise accounting standards, reflecting its financial position and operating results as of June 30, 2021[173].

Financial Performance - The company's operating revenue for Q1 2021 was ¥119,769,655.92, representing a 20.87% increase compared to ¥99,092,249.53 in the same period last year[8]. - Net profit attributable to shareholders was ¥3,013,057.50, a significant turnaround from a loss of ¥35,641,507.49, marking an increase of 108.45%[8]. - The basic earnings per share improved to ¥0.01 from a loss of ¥0.08, reflecting a 112.50% increase[8]. - The weighted average return on equity rose to 16.62%, up 38.08% from -21.46% in the previous year[8]. - The company reported a total comprehensive income of CNY 3,013,057.50, recovering from a loss of CNY 35,641,507.49 in the previous year[49]. - The net profit for the first quarter of 2021 was CNY 9,925,801.86, a significant recovery from a net loss of CNY -17,702,575.03 in the same period last year[52]. - Operating profit for the first quarter was CNY 9,902,394.78, compared to an operating loss of CNY -17,702,575.03 in the previous year[52]. Assets and Liabilities - The total assets at the end of the reporting period were ¥866,725,194.28, a decrease of 6.44% from ¥926,424,250.02 at the end of the previous year[8]. - The company's total assets amounted to CNY 930,380,997.26, down from CNY 997,853,952.13 in the previous period[44]. - The company's total current liabilities decreased to RMB 847,087,641.98 from RMB 909,799,755.22, a reduction of about 6.9%[40]. - Total liabilities were CNY 865,075,349.47, a decrease from CNY 942,474,106.20[44]. Cash Flow - The net cash flow from operating activities was negative at -¥124,967,350.19, a decline of 117.50% compared to ¥714,168,744.41 in the same period last year[8]. - Total cash inflow from operating activities was CNY 141,288,507.02, down from CNY 266,312,858.94 in the previous year, indicating a decrease of approximately 47%[56]. - Cash outflow from operating activities totaled CNY 266,255,857.21, compared to a negative cash flow of CNY -447,855,885.47 in the previous year[56]. - The company reported a cash inflow from financing activities of CNY 51,099,289.49, a recovery from a cash outflow of CNY -870,965,948.39 in the previous year[57]. - The net cash flow from financing activities decreased by 105.87% to -$870,965,948.39, impacted by net outflows from targeted financing instruments[15]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,372[11]. - The largest shareholder, Fasten Hongsheng Group Co., Ltd., holds 28.82% of the shares, with 120,892,486 shares pledged[11]. - The company aims to enhance its profit distribution system and strengthen the investor dividend return mechanism, ensuring stable and sustainable dividend decisions[21]. - The company will actively promote profit distribution and cash dividends to enhance shareholder returns, aligning with its operational conditions and development plans[21]. Corporate Governance - The company has established a sound corporate governance structure with clear responsibilities and effective operations among the shareholders' meeting, board of directors, supervisory board, and management[21]. - The company emphasizes the importance of a complete and effective corporate governance and management framework to protect the interests of investors, especially minority shareholders[22]. - The company has committed to maintaining the independence of its assets, ensuring that subsidiaries have complete and independent business systems[22]. - The company guarantees that its senior management will only serve in the listed company and will not hold positions in other enterprises, ensuring personnel independence[22]. Related Party Transactions - The company will ensure that related transactions with subsidiaries are conducted at market fair prices to avoid any detrimental impact on its interests[21]. - The company has pledged to fully bear any losses caused to its related parties due to violations of commitments regarding related transactions[21]. - The company has committed to timely and detailed information disclosure regarding potential related transactions, adhering to legal decision-making procedures[21]. - The company has established measures to prevent any potential competition with its subsidiaries, including divesting from competing businesses if necessary[24].

Financial Performance - The company's operating revenue for 2020 was ¥467,058,989.47, a decrease of 53.46% compared to ¥1,003,609,325.63 in 2019[21] - The net profit attributable to shareholders in 2020 was ¥15,955,439.93, representing a 102.05% increase from a loss of ¥777,563,777.57 in 2019[21] - The net cash flow from operating activities increased by 22.82% to ¥2,058,155,223.24 in 2020, up from ¥1,675,805,917.45 in 2019[21] - The total assets at the end of 2020 were ¥926,424,250.02, a decrease of 80.65% from ¥4,788,102,718.79 at the end of 2019[22] - The net assets attributable to shareholders increased by 111.21% to ¥16,624,494.80 in 2020, compared to a negative net asset of ¥148,284,828.35 in 2019[22] - The basic earnings per share for 2020 was ¥0.04, a significant improvement from a loss of ¥2.05 per share in 2019[22] - The company reported a decrease in revenue from its main business, with the adjusted operating revenue being ¥444,197,317.11 in 2020, down from ¥978,314,243.33 in 2019[22] - The company reported non-recurring gains of CNY 72.94 million in 2020, significantly higher than CNY 1.94 million in 2019[27] - Revenue from metal products accounted for 87.62% of total revenue, totaling ¥409,213,860.04, down 45.23% from ¥747,163,455.60 in 2019[40] - Financial business revenue decreased by 77.44% to ¥57,845,129.43, down from ¥256,445,870.03 in 2019, representing 12.38% of total revenue[40] Cash Flow and Investments - The net cash flow from investing activities surged by 597.56% to ¥602,235,320.42, primarily due to increased cash from the disposal of subsidiaries and fixed assets[54] - The net cash flow from financing activities decreased by 72.21% to -¥2,719,103,139.35, mainly due to net outflows from the repayment of targeted financing instruments[54] - The total cash and cash equivalents decreased by 132.05% to -¥58,712,595.69, reflecting the combined impact of operating, investing, and financing activities[54] - The company raised CNY 115.20 million through a private placement of 39,862,368 shares, which was used to repay bank loans and reduce financial costs[37] - The company disposed of idle assets, generating proceeds of CNY 13.60 million and CNY 11.65 million from the sale of land and buildings[37] Business Strategy and Development - The company completed the divestiture of its factoring business, transferring 100% equity of Shanghai Moshan Commercial Factoring Co., Ltd. for a gain of CNY 45.40 million[36] - Two new subsidiaries, Jiangsu Farsen Environmental Engineering Co., Ltd. and Jiangsu Farsen Environmental Technology Co., Ltd., were established to pivot towards the environmental industry[37] - The company is in the process of acquiring Dalian Guantaiyuan Environmental Technology Co., Ltd., which aims to upgrade and transform its main industry[37] - The company’s strategic focus is on optimizing its business structure and seeking high-quality business support points for long-term development[30] - The company plans to enhance its competitiveness in the metal products sector by optimizing existing products and focusing on technological innovation in 2021[78] Shareholder and Governance - The company’s controlling shareholder, Fasten Hongsheng Group, holds 28.82% of the total shares[19] - The company has not distributed any cash dividends over the past three years, maintaining a policy of no cash dividends or stock bonuses[83] - The company guarantees that it and its controlled enterprises will not engage in any direct or indirect competition with Farsen Co., Ltd. in the future[87] - The company has established an independent financial department with standardized accounting practices, ensuring independent banking operations[91] - The company has a clear strategy to maintain operational independence and avoid substantial competition with related entities[91] Compliance and Internal Control - The company has not faced any criminal penalties or administrative penalties from the China Securities Regulatory Commission in the last five years[90] - The company has implemented a sound internal control system to ensure compliance with corporate governance standards[178] - The internal control audit report issued by the accounting firm confirmed that the company maintained effective internal controls over financial reporting as of December 31, 2020[193] - The audit opinion type for the financial statements is a standard unqualified opinion, indicating no material misstatements were found[198] - The company has committed to ensuring that the application documents for the transaction do not contain false records or misleading statements[90] Employee and Management - The company employed a total of 348 staff, including 41 in the parent company and 307 in major subsidiaries[173] - The professional composition of employees includes 223 production personnel, 30 technical personnel, and 17 financial personnel[173] - The company emphasizes employee training and has designed a comprehensive training program to enhance skills and professional development[175] - The total remuneration for the company's directors and senior management during the reporting period amounted to 3.28 million yuan[173] - The independent directors receive an annual allowance of 60,000 yuan, paid monthly[170] Market and Product Development - The company plans to expand its market presence by entering new regions and enhancing its product offerings in the next fiscal year[95] - Future guidance estimates a revenue growth of 25% for the upcoming year, driven by new product launches and market expansion strategies[95] - A new product line is set to launch in Q3 2021, anticipated to contribute an additional RMB 50 million in revenue[95] - The gross margin improved to 35%, up from 30% in the previous year, indicating better cost management and pricing strategies[95] - The company has initiated a strategic acquisition of a local competitor, expected to enhance market share by 15%[95]

Financial Performance - Operating revenue for the reporting period was CNY 128,851,694.12, a decline of 64.49% year-on-year[8] - Net profit attributable to shareholders increased by 106.45% to CNY 4,423,370.64 for the reporting period[8] - Basic earnings per share rose by 106.48% to CNY 0.0117[8] - The weighted average return on net assets was 3.14%, down 14.71% from the previous year[8] - Operating revenue decreased by 66.71% to ¥375,925,139.27, impacted by the pandemic, contraction of financial business scale, and changes in subsidiary consolidation[16] - Operating costs decreased by 58.22% to ¥454,551,042.79, reflecting the significant drop in operating revenue and changes in subsidiary consolidation[16] - Investment income surged by 523.29% to ¥63,630,400.47, mainly from gains on subsidiary disposals[17] - The net profit for Q3 2020 was ¥4,423,370.64, a significant improvement from a net loss of ¥68,554,226.88 in Q3 2019[53] - The net profit for the current period is -¥8,326,759.36, compared to -¥5,770,964.99 in the previous period, indicating a worsening of approximately 44%[56] - The total comprehensive income for the current period is -¥31,837,297.51, compared to -¥9,318,235.89 in the previous period[65] Assets and Liabilities - Total assets decreased by 76.45% to CNY 1,127,425,649.88 compared to the end of the previous year[8] - The company's total assets decreased to ¥1,189,288,164.76 from ¥1,503,265,478.74, reflecting a decline of 20.9%[49] - The company's total liabilities decreased to CNY 1,260,687,722.65 from CNY 4,936,387,547.14, showing a reduction of approximately 74%[44] - Total liabilities decreased to ¥1,251,992,767.60 from ¥1,534,132,784.07, a reduction of 18.4%[49] - The company's equity attributable to shareholders was reported at CNY -133,262,072.77, an improvement from CNY -148,284,828.35 in the previous period[45] - The owner's equity showed a negative balance of ¥62,704,602.84, worsening from a negative ¥30,867,305.33 in the previous year[49] Cash Flow - Net cash flow from operating activities decreased by 97.61% to CNY 8,646,708.79[8] - The net cash flow from operating activities increased by 510.59% to ¥2,213,434,057.29, driven by a net increase in customer factoring receivables[17] - The cash flow from operating activities shows a net outflow of -¥1,655,118,623.03, contrasting with a net inflow of ¥800,964,098.35 in the previous period[68] - The cash flow from financing activities resulted in a net outflow of -¥2,629,856,638.31, compared to a smaller outflow of -¥343,369,839.21 in the previous period[69] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 29,861[12] - The largest shareholder, Farshing Hongsheng Group, holds 21.34% of the shares[12] - The company did not engage in any repurchase transactions during the reporting period[13] Corporate Governance and Compliance - The company has established a sound corporate governance structure to protect the rights and interests of investors, especially small and medium-sized investors[23] - The company has committed to not transferring benefits to other units or individuals under unfair conditions, ensuring the protection of its interests[23] - The company has pledged to disclose relevant information regarding transactions in a timely manner, ensuring the authenticity and completeness of the information provided[22] - The company has established a governance framework that clearly defines the responsibilities and powers among the shareholders' meeting, board of directors, supervisory board, and management[23] - The company has not faced any administrative penalties from the China Securities Regulatory Commission in the last three years, indicating compliance with regulations[25] - The company has committed to maintaining a complete separation from controlling entities in terms of operations and decision-making processes[25] Related Party Transactions - The actual controller and shareholders of the company have committed to ensuring fair related party transactions, promising not to seek preferential treatment in business cooperation[20] - The company will conduct transactions with related parties at fair market prices and will not engage in activities that harm the interests of the company[21] - The company has pledged to minimize related party transactions and ensure they are conducted at fair market prices[25] Future Outlook and Strategy - The company is focusing on optimizing its industrial structure to find and cultivate new business support points, ensuring long-term development[23] - The company aims to improve its profit distribution system and strengthen the investor dividend return mechanism, actively rewarding investors[23] - The company plans to implement measures to mitigate the dilution of immediate returns due to major asset restructuring[23] Legal and Regulatory Compliance - The company has confirmed that it is legally established and in good standing, with no circumstances that would lead to dissolution or bankruptcy[29] - There are no ongoing investigations or legal actions against the company that could impact its operations or reputation[28] - Jiangsu Far East has not been involved in any insider trading related to major asset restructuring in the last three years, maintaining its integrity in the market[29]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥247,073,445.15, a decrease of 67.76% compared to the same period last year[17]. - The net profit attributable to shareholders was ¥10,599,384.94, representing an increase of 112.24% from a loss of ¥86,604,615.51 in the previous year[17]. - Basic earnings per share improved to ¥0.0279 from a loss of ¥0.2281, marking a 112.23% increase[17]. - Total revenue for the reporting period was ¥247,073,445.15, a decrease of 67.76% compared to ¥766,443,626.32 in the same period last year[38]. - The company reported a net loss of CNY 644,156,181.58, compared to a loss of CNY 654,755,566.52 in the previous period[130]. - The total profit for the first half of 2020 was ¥20,592,368.98, compared to a total loss of ¥104,953,812.88 in the same period of 2019[137]. - The company's comprehensive income for the first half of 2020 was ¥10,599,384.94, recovering from a comprehensive loss of ¥55,745,416.43 in the same period of 2019[137]. Cash Flow - The net cash flow from operating activities reached ¥2,204,787,348.50, a significant increase of 3,151.95% compared to the previous year[17]. - Cash received from sales of goods and services was ¥408,941,441.66 in the first half of 2020, a decline of 52.6% from ¥863,374,995.04 in the same period of 2019[143]. - The total cash inflow from investment activities was CNY 180,308,814.36, while cash outflow was CNY 1,046,904.84, resulting in a net cash flow of CNY 179,261,909.52[144]. - Cash inflow from financing activities amounted to CNY 1,697,130,980.00, with cash outflow totaling CNY 4,286,740,346.30, leading to a net cash flow of -CNY 2,589,609,366.30[145]. - The total cash and cash equivalents at the end of the reporting period was CNY 3,379,145.14, down from CNY 216,845,166.32 at the end of the previous period[145]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,172,293,416.95, a decrease of 75.52% from the end of the previous year[17]. - Total liabilities reached CNY 1,309,978,860.36, down from CNY 4,936,387,547.14[129]. - The company's equity attributable to shareholders was negative CNY 137,685,443.41, compared to negative CNY 148,284,828.35 previously[130]. - Cash and cash equivalents decreased from 408,299,297.61 CNY at the end of 2019 to 125,321,484.26 CNY by June 30, 2020, a decline of approximately 69.4%[127]. Business Operations - The company achieved operating revenue of CNY 24,707.34 million, a decrease of 67.76% year-on-year, primarily due to the impact of the COVID-19 pandemic and the contraction of financial services[31]. - Revenue from the metal products business decreased by 55.75% year-on-year, with a gross margin decline of 0.45 percentage points[33]. - The company aims to stabilize its metal products business while seeking higher quality business support points for long-term development[31]. - The company completed the divestiture of its commercial factoring business, realizing a transfer gain of CNY 4,540.43 million from the sale of 100% equity in Shanghai Moshan Commercial Factoring Co., Ltd.[32]. Risk Management - The company faced significant risks as detailed in the report, which investors should be aware of[5]. - The company has implemented measures to mitigate risks associated with raw material price fluctuations and environmental compliance[54][55]. - The company faces risks related to single business operations and market competition, which may impact profitability[53][54]. Corporate Governance - The governance structure has been improved to protect the rights of investors, especially minority shareholders, providing institutional guarantees for company development[63]. - The company has committed to not transferring benefits to other units or individuals under unfair conditions, ensuring the integrity of its operations[63]. - The company has established a complete and effective governance and management framework, ensuring clear responsibilities among various functional departments[63]. - The company has pledged to maintain confidentiality regarding major asset restructuring and insider information, ensuring compliance with regulations[63]. Related Party Transactions - The total amount of related party transactions for the reporting period is estimated at 17,792.35 million, with actual transactions amounting to 58,255 million[85]. - The company has confirmed that there are no significant differences between transaction prices and market reference prices[85]. - The company reported a total profit of 643,984.20 CNY from leasing activities during the reporting period, which contributed to over 10% of the total profit[94]. Future Plans - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has not made any commitments regarding future plans or strategies that could be considered binding for investors[5]. - The company aims to optimize its industrial structure and concentrate resources to cultivate new business support points for long-term development[62].

Financial Performance - Revenue for Q1 2020 was ¥99,092,249.53, a decrease of 72.44% compared to ¥359,503,393.08 in the same period last year[8] - Net profit attributable to shareholders was -¥35,641,507.49, representing a decline of 545.12% from ¥8,007,225.86 year-on-year[8] - Basic and diluted earnings per share were both -¥0.0939, down 545.02% from ¥0.0211 in the same period last year[8] - The net profit for Q1 2020 was a loss of CNY -690,397,074.01 for the period, compared to a loss of CNY -654,755,566.52 in the previous period[31] - The total profit for Q1 2020 was a loss of CNY 29,854,411.45, compared to a profit of CNY 14,892,881.05 in the same period last year[37] - The operating profit for Q1 2020 was a loss of CNY 29,854,361.45, compared to a profit of CNY 14,822,881.05 in the same period last year, highlighting a significant downturn in operational efficiency[37] Cash Flow - Net cash flow from operating activities increased by 1,274.89% to ¥714,168,744.41, compared to -¥60,785,767.34 in the previous year[8] - The cash flow from operating activities was CNY 264,993,908.09 in Q1 2020, down from CNY 387,138,618.00 in the previous year, a decrease of about 31.6%[43] - The net cash flow from operating activities was 714,168,744.41 CNY, a significant improvement compared to -60,785,767.34 CNY in the previous period[44] - Total cash inflow from financing activities was 1,349,220,000.00 CNY, while cash outflow was 2,220,185,948.39 CNY, resulting in a net cash flow of -870,965,948.39 CNY[45] - The company received 190,000,000.00 CNY in borrowings during the period, compared to 740,800,000.00 CNY in the previous period[45] - The net cash flow from operating activities for the parent company was 95,446,406.94 CNY, an increase from 40,985,262.36 CNY in the previous period[46] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,860,017,786.89, a decrease of 19.38% from ¥4,788,102,718.79 at the end of the previous year[8] - Total liabilities decreased from CNY 4,936,387,547.14 to CNY 4,043,944,122.73, a reduction of about 18.1%[30] - The company's total equity attributable to shareholders decreased from CNY -148,284,828.35 to CNY -183,926,335.84, indicating a further decline in shareholder equity[31] - Cash and cash equivalents decreased by 53.29% to ¥190,731,323.56 from ¥408,299,297.61 due to a net decrease in cash flow[15] - Other payables increased by 125.31% to ¥1,902,900,709.47 from ¥844,568,285.99, mainly due to an increase in payable borrowed funds[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 42,909[11] - The largest shareholder, Fasten Hongsheng Group, held 21.34% of the shares, totaling 81,030,118 shares[11] Non-Operating Income and Expenses - The company reported non-operating income of ¥40,007.63, primarily from non-current asset disposal gains and government subsidies[9] - The company’s financial expenses showed a significant decrease of 120.90%, resulting in a net income of -¥4,586,813.85, due to increased interest income[15] - The financial expenses for Q1 2020 amounted to CNY 16,700,134.52, an increase from CNY 14,675,206.20 in the same period last year, showing a rise of approximately 13.8%[40] Investment Activities - Investment income rose by 51.89% to ¥15,207,159.96 from ¥10,011,792.18, attributed to gains from the disposal of trading financial assets[15] - The company reported an investment income of CNY 15,207,159.96 in Q1 2020, an increase from CNY 10,011,792.18 in the previous year, reflecting a growth of approximately 51.9%[37] - Cash inflow from investment activities was 26,622,095.56 CNY, while cash outflow was 1,046,904.84 CNY, leading to a net cash flow of 25,575,190.72 CNY[44] - The cash flow from investment activities for the parent company was 5,474,728.08 CNY, up from 3,866,301.37 CNY in the previous period[48] Litigation and Compliance - The company has disclosed a major litigation announcement, with no current assessment of its impact on profits due to ongoing pandemic-related delays[16] - The company did not undergo an audit for the first quarter report[49]