苏州海陆重工股份有限公司 2021 年第一季度报告全文 苏州海陆重工股份有限公司 2021 年第一季度报告 2021 年 04 月 1 苏州海陆重工股份有限公司 2021 年第一季度报告全文 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、误导性陈述或者重大遗漏，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。 公司负责人徐元生、主管会计工作负责人王申申及会计机构负责人(会计主 管人员)成艺声明：保证季度报告中财务报表的真实、准确、完整。 2 苏州海陆重工股份有限公司 2021 年第一季度报告全文 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 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 352,930,447.31 | 207,952,588.96 | 69.72% | | 归属于上市公司股东的净利润（元） | 75,222,499.25 | 35,000,4 ...

Financial Performance - The company's operating revenue for 2020 was approximately ¥2.025 billion, a decrease of 1.68% compared to ¥2.060 billion in 2019[16]. - The net profit attributable to shareholders for 2020 was approximately ¥790 million, representing a significant increase of 142.83% from a loss of ¥1.844 billion in 2019[16]. - Basic earnings per share for 2020 were ¥0.9379, compared to a loss of ¥2.1899 per share in 2019, marking a turnaround[16]. - The company reported a total of approximately 581.88 million in non-recurring gains and losses for 2020, a significant increase from the previous year's loss of approximately 294.44 million[22]. - The company achieved a net profit of 30,268,803.78 yuan for the year 2020, representing a 2.00% contribution to the total net profit[99]. - In 2020, the company achieved operating revenue of 2.025 billion yuan and a net profit attributable to shareholders of 790 million yuan, with a net profit of 208 million yuan after deducting non-recurring gains and losses[101]. Cash Flow and Investments - The net cash flow from operating activities improved to approximately ¥380 million, a 323.98% increase from a negative cash flow of ¥170 million in 2019[16]. - The company reported a net cash flow from operating activities of 379,974,331.94 yuan, a significant increase of 323.98% compared to the previous year[78]. - The company generated a net cash inflow from investment activities of 136,421,423.96 yuan, a 249.66% increase year-on-year[78]. - The company’s financing activities resulted in a net cash outflow of 465,129,891.72 yuan, an increase of 167.68% compared to the previous year[79]. Assets and Liabilities - The total assets at the end of 2020 were approximately ¥5.032 billion, reflecting a 2.50% increase from ¥4.909 billion at the end of 2019[18]. - The net assets attributable to shareholders increased by 50.69% to approximately ¥2.851 billion, up from ¥1.892 billion in 2019[18]. - The company’s total assets included cash and cash equivalents of 468,747,400.01 yuan, which accounted for 9.32% of total assets[83]. - Short-term loans decreased by 13.70% to approximately ¥684.54 million due to repayment and disposal of Jiangnan Integration[84]. - Long-term loans decreased by 1.99% to approximately ¥99.60 million, primarily due to partial repayment[84]. Business Operations and Strategy - The company has undergone significant business restructuring, focusing on industrial waste heat boilers, environmental management services, and photovoltaic power station operations[16]. - The company aims to enhance its technological innovation in the waste heat utilization sector, focusing on high-end products to improve profitability[28]. - The company is actively expanding its product offerings and market presence in the environmental governance services sector, including solid waste and wastewater treatment[25]. - The company is transitioning from a single processing manufacturer to a self-contracting business model to ensure stable future performance[35]. - The company is actively pursuing mergers and acquisitions to expand its operational scope, including the acquisition of 100% equity in two companies related to photovoltaic power and agricultural technology[69]. Market and Industry Trends - The environmental protection equipment manufacturing industry is expected to see increased concentration, with government support for leading enterprises[27]. - The demand for energy-saving and environmental protection solutions remains strong due to regulatory pressures and pollution issues[27]. - The pressure vessel industry in China has seen a compound annual growth rate of 5.35%, increasing from 3.2279 million units in 2014 to 4.1912 million units in 2019[29]. - The nuclear power industry is expected to see a steady increase in installed capacity, with projections of reaching 70 million kW by 2025[33]. - The national garbage incineration capacity reached 591,400 tons per day by 2020, accounting for 54% of the harmless treatment capacity, indicating significant growth potential compared to developed countries with a 75% incineration rate[37]. Research and Development - Research and development expenses increased by 39.80% to 118,310,231.73 yuan, representing 5.84% of operating revenue[77]. - The company is actively engaged in the research and development of new energy vehicles and related technologies[100]. - New product development efforts are focused on innovative technologies, with an investment of 50 million RMB allocated for R&D in the upcoming year[116]. Regulatory and Compliance - The company has faced regulatory scrutiny, with chairman Xu Yuansheng and financial officer Wang Shenshen receiving public reprimands from the Shenzhen Stock Exchange on September 14, 2020[192]. - The company received a public reprimand from the Shenzhen Stock Exchange for inaccurate performance forecasts and prior accounting errors[130]. - The company has a pending arbitration case with Jiangsu Metallurgical Design Institute for CNY 7.55 million, which is currently in execution proceedings[128]. Shareholder and Governance - The company has a total of 42,515 shareholders as of the end of the reporting period[174]. - The company has appointed several independent directors to enhance governance and oversight[191]. - The total remuneration for the chairman and general manager Xu Yuansheng is 68.57 million CNY[194]. - The company has a focus on aligning remuneration with risk and responsibility, ensuring that compensation reflects the roles of its executives[193]. Environmental Responsibility - The company is actively involved in environmental protection, ensuring that all emissions meet national standards and has not faced any major environmental pollution incidents[158]. - The company has a planned project for high-concentration wastewater pretreatment, which has passed environmental impact assessment and is awaiting completion acceptance[159].

Financial Performance - Operating revenue for the reporting period was CNY 456,210,197.93, down 40.62% year-on-year, while year-to-date revenue was CNY 1,300,113,501.58, a decrease of 28.34%[7] - Net profit attributable to shareholders of the listed company reached CNY 108,939,225.57, an increase of 245.92%, with year-to-date net profit at CNY 666,778,662.50, up 848.44%[7] - Basic earnings per share for the reporting period were CNY 0.1293, reflecting a growth of 245.94%, while year-to-date earnings per share were CNY 0.7916, an increase of 848.02%[7] - The company reported a net loss of CNY 548,421,242.18, an improvement from a loss of CNY 1,215,199,904.68 at the end of 2019[38] - Net profit for the period reached CNY 110,893,171.25, compared to a net loss of CNY 94,464,762.46 in the same period last year[45] - The company reported a significant improvement in operating profit, which was CNY 118,130,750.52, compared to a loss of CNY 87,192,759.63 in the previous year[45] - The total comprehensive income for the period was CNY 110,775,673.94, compared to a loss of CNY 94,191,210.73 in the same period last year[46] - The estimated cumulative net profit for the year is projected to be between 700 million and 780 million CNY, representing a significant increase of 137.95% to 142.29% compared to the previous year[26] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,808,905,290.81, a decrease of 2.04% compared to the end of the previous year[7] - The company's total assets saw a net increase of 665.78 million yuan, primarily driven by an increase in prepaid materials and other receivables[15] - The company's total liabilities decreased by 624.45 million yuan, reflecting the repayment of long-term borrowings and the impact of the disposal of Jiangnan Integration[15] - Total liabilities decreased to CNY 2,019,798,074.75, down 34.96% from CNY 3,106,560,725.59 at the end of 2019[37] - The total assets of the company were reported at ¥4,908,972,515.17, with total equity standing at ¥1,802,411,789.58[68] - The company has a negative retained earnings of approximately CNY -774.24 million, indicating accumulated losses[72] Cash Flow - The net cash flow from operating activities was CNY 99,322,960.50, up 354.75%, with year-to-date cash flow at CNY 316,791,028.04, an increase of 184.72%[7] - The company's net cash flow from operating activities increased by 690.73 million yuan compared to the same period last year, mainly due to reduced cash payments for goods and services and lower tax payments[17] - The company’s cash flow from investing activities increased by 105.65 million yuan, mainly due to the disposal of Jiangnan Integration and other assets[17] - The company reported a total of ¥1,109,015,093.02 in cash inflows from operating activities, an increase of approximately 19% from ¥932,831,755.69 in the previous period[61] - The total cash inflow from investment activities was ¥375,658,997.19, compared to ¥115,373,750.65 in the previous period, representing an increase of about 226%[63] Shareholder Information - The total number of shareholders at the end of the reporting period was 44,486, with the top ten shareholders holding significant stakes[11] - The company did not engage in any repurchase transactions during the reporting period[12] Research and Development - Research and development expenses rose by 11.38 million yuan compared to the previous year, reflecting increased investment in R&D activities[16] - Research and development expenses increased to CNY 10,919,324.40 from CNY 5,745,984.38, indicating a focus on innovation[44] - Research and development expenses increased to ¥14,992,077.26, a rise of 23.0% from ¥12,179,508.21 in the previous period[54] Contracts and Revenue Recognition - The company has confirmed revenue of 31.8 million CNY from a contract with Jiangsu Ruiheng New Materials, with 60% of the design work completed[27] - A total of 32.94 million CNY has been confirmed as revenue from a contract with Ningxia Ruitai Technology, with 70% of the design work completed[28] - The company has completed the equity transfer of Jiangnan Integration, which will no longer be included in the consolidated financial statements, resulting in a reversal of excess losses from the previous year amounting to 556.56 million CNY[26] Financial Health Indicators - The weighted average return on equity was 4.04% for the reporting period, compared to 29.96% year-to-date, which decreased by 5.98% and increased by 28.24% respectively[7] - The capital reserve increased to CNY 2,338,529,240.91 from CNY 2,148,529,240.91, reflecting stronger financial health[44] - The company’s total owner's equity increased to CNY 2,749,009,095.69, compared to CNY 1,891,988,343.32 at the end of 2019[38] Miscellaneous - The company has no securities or derivative investments during the reporting period[24][25] - The company has 320,000 CNY in bank wealth management products, with an outstanding balance of 200,000 CNY[29] - There are no violations regarding external guarantees during the reporting period[29] - The third quarter report was not audited, which may affect the reliability of the financial data presented[73]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥843,903,303.65, a decrease of 19.32% compared to ¥1,046,020,340.26 in the same period last year[17]. - The net profit attributable to shareholders increased by 284.82% to ¥557,839,436.93, up from ¥144,961,535.82 in the previous year[17]. - The net cash flow from operating activities improved significantly to ¥217,468,067.54, compared to a negative cash flow of ¥334,946,954.63 in the same period last year, marking a 164.93% increase[17]. - Basic earnings per share rose to ¥0.6623, reflecting an increase of 284.83% from ¥0.1721 in the previous year[17]. - The total assets at the end of the reporting period were ¥4,711,940,807.67, a decrease of 4.01% from ¥4,908,972,515.17 at the end of the previous year[17]. - The net assets attributable to shareholders increased by 39.54% to ¥2,640,129,793.74, compared to ¥1,891,988,343.32 at the end of the previous year[17]. - The company achieved total operating revenue of CNY 843.90 million in the first half of 2020, a decrease of 19.32% compared to CNY 1,046.02 million in the same period last year, primarily due to the stagnation of the photovoltaic EPC business[49]. - Net profit attributable to shareholders of the parent company reached CNY 558.14 million, a significant increase of 284.78% compared to CNY 145.06 million in the previous year, driven by the reversal of excess losses from the disposal of Jiangnan Integrated Technology Co., Ltd.[50][51]. - The company reported a significant increase in investment income, reaching CNY 560.65 million, up 12,986.13% from CNY 4.28 million, due to the reversal of excess losses from Jiangnan Integrated Technology[50]. Business Operations - The company is engaged in the manufacturing and sales of industrial waste heat boilers, large and special material pressure vessels, and nuclear safety equipment, as well as environmental comprehensive governance services[24]. - The company holds the leading position in the domestic market for industrial waste heat boilers, maintaining a market share of over 30%[27]. - The company aims to enhance its profitability by focusing on high-end, specialized products and expanding its upstream and downstream operations in the waste heat recovery sector[28]. - The company is actively transitioning from a single processing manufacturer to a self-contracting business model in the nuclear safety equipment sector, ensuring stable future performance[33]. - The company is focusing on technological innovation in the waste heat boiler sector to optimize the entire production process and meet diverse industry standards[27]. - The company is actively expanding into hazardous waste incineration projects, collaborating with international firms to develop large-scale incineration systems for high-salinity waste liquids[41]. - The company has established a partnership with China Everbright Environmental Protection to manage solid waste disposal, with ongoing construction of a solid waste treatment facility[44]. - The company has maintained stable operations in its main business while actively exploring new markets in environmental engineering construction[44]. Research and Development - Research and development expenses increased by 56.43% to CNY 17.21 million, reflecting the company's commitment to enhancing its R&D capabilities[49]. - The company is focused on maintaining shareholder rights amid ongoing financial challenges[93]. - The company is involved in the development and maintenance of renewable energy projects, including solar and wind power generation[76]. - The company has a strong focus on R&D for new products and technologies, particularly in the fields of waste disposal and renewable energy[197]. Market and Industry Trends - The company is positioned to benefit from the increasing demand for environmental governance services, driven by stricter regulations on hazardous waste disposal[34]. - The company is expected to see further industry concentration in the energy-saving and environmental protection equipment manufacturing sector, supported by government initiatives[27]. - The company plans to enhance market expansion efforts in the industrial waste heat boiler sector to ensure stable revenue sources for sustainable growth[47]. - The company is expanding its market presence in renewable energy technologies and electric vehicle charging infrastructure[76]. Risks and Challenges - The company faces various risks including macroeconomic risks, market competition risks, and raw material price fluctuations, which are discussed in detail in the report[4]. - The company plans to closely monitor raw material price fluctuations and procure materials at favorable prices to manage cost risks[79]. - The company is facing potential risks related to accounts receivable due to the rapid growth of sales revenue and the nature of its payment terms[79]. - The company has taken measures to mitigate potential losses from equity sales and operational challenges[72]. Legal and Compliance Issues - The company is actively addressing litigation issues related to its subsidiary, Jiangnan Integration, to mitigate impacts on financial performance[93]. - Jiangnan Integration reported multiple instances of debt defaults, leading to potential penalties and interest on overdue tax payments amounting to 10,140.79 million RMB[93]. - The company has committed to enhancing oversight of its subsidiaries to ensure compliance with management protocols[93]. - The company reported a total of 13 litigation and arbitration matters during the reporting period, with 11 cases resolved and 2 pending[101]. Shareholder and Equity Information - The company has not declared any cash dividends or stock bonuses for the half-year period[84]. - The total number of shares increased from 842,271,055 to 842,271,055, with a slight increase in limited sale shares from 195,264,472 (23.18%) to 198,039,472 (23.51%) due to the addition of 2,775,000 shares[137]. - The total number of ordinary shareholders at the end of the reporting period was 52,366[141]. - Xu Yuan Sheng, the controlling shareholder, holds 11.42% of the shares, amounting to 96,227,848 shares[141]. Environmental Responsibility - The company has established a strict environmental monitoring scheme, ensuring that all emissions comply with national standards[126]. - The company has reported zero major environmental pollution incidents during the reporting period[124]. - The company has implemented automatic monitoring systems for pollutant emissions, ensuring compliance with environmental regulations[126]. - The company has committed to enhancing its environmental protection investments to meet regulatory requirements[124].

Financial Performance - The company's operating revenue for Q1 2020 was ¥207,952,588.96, a decrease of 47.44% compared to ¥395,665,107.86 in the same period last year[7] - The net profit attributable to shareholders for Q1 2020 was ¥35,000,425.05, down 46.27% from ¥65,136,635.36 year-on-year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥18,145,945.38, a decline of 50.94% compared to ¥36,987,344.17 in the previous year[7] - The basic earnings per share for Q1 2020 was ¥0.0416, down 46.18% from ¥0.0773 in the previous year[7] - The company's operating revenue decreased by 187.71 million yuan compared to the same period last year, primarily due to a decline in sales revenue from subsidiaries and inability to ship products due to the pandemic[15] - Total operating revenue for Q1 2020 was CNY 207,952,588.96, a decrease from CNY 395,665,107.86 in the previous period[39] - Net profit for Q1 2020 was CNY 33,540,778.50, compared to CNY 72,180,097.86 in the same period last year[41] - Operating revenue for the current period is CNY 141,277,697.99, a decrease from CNY 285,096,945.31 in the previous period[44] - Operating profit for the current period is CNY 52,225,072.20, down from CNY 63,963,841.54 in the previous period[45] - Net profit for the current period is CNY 51,586,622.46, compared to CNY 49,803,863.95 in the previous period, showing an increase[46] Cash Flow - The net cash flow from operating activities improved significantly to ¥51,629,278.59, compared to a negative cash flow of ¥413,185,773.77 in the same period last year, marking a 112.50% increase[7] - The net cash flow from investment activities was -¥17,070,169.51, a decrease of 70.8% compared to the previous year[53] - The cash flow from operating activities was not detailed, indicating a focus on investment and financing activities in the report[53] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,906,713,783.61, a slight decrease of 0.05% from ¥4,908,972,515.17 at the end of the previous year[7] - The company's total assets amounted to ¥4,906,713,783.61, showing a slight decrease from ¥4,908,972,515.17 at the end of 2019[30][34] - The company's cash and cash equivalents decreased to ¥338,894,263.95 from ¥413,397,637.88, representing a decline of approximately 18.1%[30] - Accounts receivable decreased to ¥746,743,856.37 from ¥816,785,072.71, indicating a reduction of about 8.5%[30] - Inventory increased to ¥988,160,167.22 from ¥926,801,377.60, reflecting an increase of approximately 6.6%[30] - Total current liabilities decreased to ¥2,826,551,021.73 from ¥2,843,393,219.14, a reduction of about 0.6%[33] - The company's total liabilities decreased to ¥3,069,848,818.95 from ¥3,106,560,725.59, showing a decline of approximately 1.2%[33] - The total liabilities amounted to ¥3,106,560,725.59, with current liabilities accounting for ¥2,843,393,219.14[57] - The total assets were reported at ¥4,908,972,515.17, with current assets totaling ¥2,816,990,243.64[56] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 70,928[11] - The largest shareholder, Xu Yuansheng, holds 11.42% of the shares, with 72,170,886 shares pledged[11] - The equity attributable to the parent company increased to ¥1,927,191,445.76 from ¥1,891,988,343.32, an increase of about 1.9%[34] - The company's equity attributable to shareholders was ¥1,891,988,343.32, with a negative retained earnings of -¥1,215,199,904.68[57] Non-Recurring Gains and Other Income - The company reported non-recurring gains totaling ¥16,854,479.67 for the period, which included government subsidies and other income[8] - The company received CNY 30,000,000.00 in investment income during the current period, compared to CNY 3,044,135.32 in the previous period[52] Research and Development - The company reported a decrease in research and development expenses to CNY 4,659,683.94 from CNY 6,022,755.64[40] - Research and development expenses for the current period are CNY 4,328,173.71, an increase from CNY 3,599,315.66 in the previous period[44] Compliance and Governance - There were no instances of non-compliance with external guarantees or non-operational fund occupation by controlling shareholders[24][25] - The company did not engage in any research, communication, or interview activities during the reporting period[26] - The company reported no derivative investments during the reporting period[23] Audit Status - The first quarter report for 2020 has not been audited[60]

Financial Performance - The company's operating revenue for Q1 2019 was ¥395,665,107.86, a decrease of 13.88% compared to ¥459,453,270.15 in the same period last year[8] - Net profit attributable to shareholders increased by 112.23% to ¥65,136,635.36 from ¥30,692,056.34 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥36,987,344.17, representing a 37.27% increase from ¥26,944,210.28 in the previous year[8] - Basic earnings per share rose by 79.77% to ¥0.0773 from ¥0.0430 year-on-year[8] - The net profit for the first half of 2019 is expected to increase by over 50% year-on-year, with a projected range of CNY 148.03 million to CNY 177.63 million[19] - The company's operating profit for Q1 2019 was CNY 92,071,943.5, significantly higher than CNY 43,917,206.39 in the same quarter last year, showing an increase of approximately 109.0%[39] - The total profit for Q1 2019 was CNY 91,751,914.83, up from CNY 43,900,680.53 in Q1 2018, reflecting an increase of approximately 108.8%[39] - The total comprehensive income for Q1 2019 was CNY 71,744,374.83, compared to CNY 33,483,734.47 in Q1 2018, marking an increase of around 114.3%[40] Cash Flow - The net cash flow from operating activities was -¥413,185,773.77, a decline of 53.90% compared to -¥268,468,648.54 in the same period last year[8] - The company recorded a cash inflow from operating activities of CNY 394,961,786.10 in Q1 2019, compared to CNY 459,498,320.03 in the previous period[46] - The net cash flow from operating activities was -83,197,005.93 yuan, compared to -20,618,325.50 yuan in the previous period, indicating a decline in operational performance[51] - Total cash inflow from operating activities was 298,648,831.13 yuan, while cash outflow was 381,845,837.06 yuan, resulting in a net cash outflow of 83,197,005.93 yuan[51] - The net cash flow from investment activities was -58,522,684.45 yuan, compared to -193,561,335.19 yuan in the previous period, showing an improvement in investment cash flow[51] - The net cash flow from financing activities was 35,147,856.65 yuan, compared to 179,262,250.27 yuan in the previous period, indicating a significant decrease in financing activities[52] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,554,716,633.23, a slight decrease of 0.34% from ¥7,580,523,033.17 at the end of the previous year[8] - Net assets attributable to shareholders increased by 1.59% to ¥3,810,200,126.56 from ¥3,750,441,194.56 at the end of the previous year[8] - The company's total liabilities decreased from CNY 3.59 billion to CNY 3.50 billion, reflecting a reduction in financial obligations[30] - Total liabilities decreased to CNY 1,956,644,576.07 from CNY 2,007,360,583.83 in the previous period[36] - The company's cash and cash equivalents decreased by CNY 502.79 million compared to the beginning of the period, primarily due to the payment of material costs from bank acceptance deposits maturing[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 45,165[12] - The top shareholder, Xu Yuansheng, holds 11.42% of the shares, amounting to 96,227,848 shares[12] Inventory and Expenses - The company's inventory decreased from CNY 1.17 billion to CNY 954.38 million, indicating a reduction in stock levels[28] - The company's financial expenses decreased by CNY 4.72 million year-on-year, attributed to interest income from maturing bank acceptance bills[17] - The company's research and development expenses for Q1 2019 were CNY 3,599,315.66, a decrease from CNY 4,410,658.77 in Q1 2018, indicating a reduction of about 18.3%[42] Future Outlook - The company plans to focus on new product development and market expansion strategies in the upcoming quarters[37]

Financial Performance - The company's operating revenue for 2019 was approximately ¥2.06 billion, a decrease of 5.58% compared to ¥2.28 billion in 2018[16] - The net loss attributable to shareholders was approximately ¥1.84 billion, representing a significant increase of 1,050.23% from a loss of ¥163.23 million in 2018[16] - The net cash flow from operating activities was negative at approximately ¥169.64 million, a decline of 174.53% compared to a positive cash flow of ¥227.62 million in 2018[16] - Basic and diluted earnings per share were both -¥2.1899, a decrease of 993.86% from -¥0.2038 in 2018[17] - Total assets at the end of 2019 were approximately ¥4.91 billion, a decrease of 35.24% from ¥7.58 billion at the end of 2018[17] - The net assets attributable to shareholders were approximately ¥1.89 billion, down 49.48% from ¥3.75 billion at the end of 2018[17] - The company reported a net profit attributable to shareholders of approximately -CNY 184.45 million, a decrease of 1050.23% year-on-year, primarily due to asset impairment losses[49] - The company reported a significant decrease in cash and cash equivalents, with a net decrease of ¥303,993,493.87, a decline of 259.01% compared to the previous year[72] - The company reported a net profit of -160,357,084.28 for 2018, also with a cash dividend amount of 0.00[99] - The net profit attributable to shareholders for 2019 was -1,844,478,909.62, representing 0.00% of the consolidated net profit[99] Revenue and Sales - The company achieved total operating revenue of approximately CNY 2.06 billion in 2019, representing a year-on-year growth of 5.58%[49] - The industrial manufacturing segment contributed CNY 1.17 billion, accounting for 56.58% of total revenue, with an 8.16% increase compared to the previous year[52] - The environmental engineering services segment saw a significant increase of 77.46%, reaching CNY 46.62 million, up from CNY 26.27 million in 2018[52] - The revenue from domestic sales accounted for 98.29% of total revenue, amounting to CNY 2,024,402,165.62, while overseas sales decreased by 71.51% to CNY 35,276,510.79[53] - The revenue from new energy EPC projects was CNY 485,533,203.43, a decrease of 13.92% compared to the previous year[55] - The revenue from new energy power sales surged by 1,113.41% to CNY 118,648,343.79, with a gross margin of 60.51%[55] Operational Challenges - The company faced significant operational challenges in its solar EPC business due to the "531 solar policy," leading to cash flow difficulties and increased litigation[38] - The company is actively monitoring raw material price fluctuations to manage production costs effectively[92] - The company is focusing on accelerating new product development and expanding into new markets to mitigate risks associated with macroeconomic fluctuations and market competition[92] Acquisitions and Investments - The company has made strategic acquisitions, including 100% stakes in several renewable energy companies during the reporting period[40] - The company acquired 100% equity of Ningxia Hannan Photovoltaic Power Co., Ltd. for ¥64.39 million on March 31, 2019[64] - The company also acquired 100% equity of Fucheng Huiguang New Energy Co., Ltd. for ¥33 million on August 31, 2019[64] Internal Control and Governance - The company has identified significant internal control deficiencies in its subsidiary, Ningxia Jiangnan Integrated Technology Co., Ltd.[3] - The board of directors is committed to enhancing corporate governance and internal controls to mitigate the impact of the audit opinion on the company[121] - The company has taken measures to freeze the shares of the performance guarantors to ensure compliance with the performance commitments[113] Environmental and Regulatory Compliance - The company is classified as a key pollutant discharge unit, with a total COD discharge of 1335.92 tons, well below the approved limit of 4000 tons[168] - The company has adhered to national environmental protection standards, ensuring that all emissions meet regulatory requirements without any major environmental incidents reported during the year[170] - The company has implemented an environmental self-monitoring plan, utilizing both automatic and manual monitoring to ensure compliance with pollution discharge standards[173] Future Outlook and Strategic Plans - Future outlook includes risks related to macroeconomic conditions, market competition, and raw material price fluctuations[4] - The company aims to achieve a net profit of over 200 million CNY for the year 2020, with a total order backlog of approximately 2.1 billion CNY as of the disclosure date[91] - The company plans to enhance its competitive capabilities by acquiring several subsidiaries, including Huiguang New Energy Co., Ltd. and Yinyang New Energy Co., Ltd.[90] Legal and Financial Disputes - The company is involved in multiple legal disputes, with a total of 10,624.5 million yuan claimed in a financial loan contract dispute with China Construction Bank[142] - The company has settled various disputes, including a payment of 184.67 million yuan to Changyuan Shenrui Automation Co., Ltd. for a sales contract dispute[141] - The company has a pending arbitration case involving a claim of 267.94 million yuan from Jiujiang Steel Group Co., Ltd.[141] Shareholder and Equity Information - The company did not distribute cash dividends for the fiscal year 2019, 2018, and 2017, with a total cash dividend amount of 0.00 for each year[97] - The company’s controlling shareholder is Xu Yuansheng, who is also the chairman and general manager[190] - The total number of shares held by directors, supervisors, and senior management is 183,638,895, with no changes in holdings during the reporting period[199]

Financial Performance - The company's operating revenue for 2018 was CNY 1,950,903,081.84, representing a 66.52% increase compared to CNY 1,171,553,611.20 in 2017[19] - The net profit attributable to shareholders of the listed company was CNY -160,357,084.28, a decrease of 265.14% from CNY 97,104,399.33 in the previous year[19] - The basic earnings per share for 2018 was CNY -0.2002, down 227.52% from CNY 0.157 in 2017[20] - The total assets at the end of 2018 were CNY 7,580,523,033.17, an increase of 13.32% from CNY 6,689,449,311.26 at the end of 2017[20] - The net assets attributable to shareholders of the listed company increased by 18.18% to CNY 3,745,396,367.05 from CNY 3,169,356,443.31 in 2017[20] - The net cash flow from operating activities was CNY 227,618,394.41, a decrease of 9.43% compared to CNY 251,322,781.09 in 2017[19] - The company reported a total of ¥590.62 million in non-recurring gains in 2018, reflecting its ability to generate additional income outside of regular operations[25] - The company reported a total operating profit of CNY 60.61 million, reflecting a robust operational efficiency and cost management strategy[102] Market Position and Business Expansion - The company has expanded its main business to include environmental comprehensive governance services and photovoltaic EPC business following acquisitions[17] - The company has maintained its leading position in the domestic market for industrial waste heat boilers, with a market share consistently at the top[32] - The company is actively pursuing market expansion and product development in response to the growing demand for energy-efficient solutions in various industrial sectors[30] - The company is actively expanding its photovoltaic power station operations and EPC business, leveraging synergies from its subsidiaries[54] - The company plans to enhance its technological innovation in niche markets and expand its product offerings to improve profitability[32] - The company plans to expand into renewable energy sectors, including the construction of solar photovoltaic power stations and wind power projects, indicating a strategic shift towards sustainable energy solutions[104] Risks and Challenges - The company faces risks including macroeconomic fluctuations, market competition, and raw material price changes, which may impact future performance[5] - The company faces risks from macroeconomic fluctuations, market competition, raw material price volatility, and potential bad debts from accounts receivable[108] - The company reported a significant decline in profitability for the year 2018, with a net profit of -9.84 million yuan for the Swiss Raschka investment due to industry policy impacts[133] Research and Development - The company has committed to increasing R&D investment, adhering to international quality management standards, and improving employee working conditions[167] - Research and development investment increased by 17.08% to ¥84,164,140.42, representing 3.70% of operating revenue[82] - The company is focusing on technological innovation and investment to enhance its core competitiveness and profitability in the renewable energy sector[57] Shareholder and Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares for the year[6] - The company did not distribute cash dividends for the years 2016, 2017, and 2018, with cash dividend amounts of 0.00 for each year[118] - The company has implemented a reasonable profit distribution plan to protect the rights of investors, particularly minority shareholders[115] - The cash dividend policy is compliant with the company's articles of association and shareholder resolutions[116] Acquisitions and Investments - The company completed several acquisitions in 2018, including the purchase of 100% equity in Dongtai Haihui Photovoltaic Power Co., Ltd. for ¥51.30 million[73] - The company has purchased several subsidiaries during the reporting period to strengthen its competitive position, including Dongtai Haihui Photovoltaic Power Co., Ltd. and Wuxi Leichi Electric Technology Co., Ltd.[105] - The company raised a total of CNY 750,967,769.20 through a non-public offering in 2018, with a net amount of CNY 744,710,994.82 after deducting underwriting fees[94] Environmental and Regulatory Compliance - The company has ensured that all pollution emissions comply with national environmental standards, with no significant environmental issues reported[171] - The company is undertaking several environmental impact assessments for new projects, including a wastewater treatment facility with a capacity of 3,000 tons per day[172] - The company has established an environmental monitoring plan to ensure compliance with local regulations[174] Future Outlook - Future guidance indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[104] - The company expects a year-on-year growth of over 30% in operating revenue and net profit for 2019, excluding goodwill impairment and performance compensation factors[107] - The company plans to enhance its market presence and product offerings in response to the evolving industry landscape and competitive pressures[131]

苏州海陆重工股份有限公司 2019 年第三季度报告 （更正后） 2019 年 10 月 苏州海陆重工股份有限公司 2019 年第三季度报告全文 1 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、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 公司负责人徐元生、主管会计工作负责人王申申及会计机构负责人(会计主 管人员)成艺声明：保证季度报告中财务报表的真实、准确、完整。 2 除下列董事外，其他董事亲自出席了审议本次季报的董事会会议 未亲自出席董事姓名 未亲自出席董事职务 未亲自出席会议原因 被委托人姓名 姚建军 董事 出差 张卫兵 苏州海陆重工股份有限公司 2019 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 苏州海陆重工股份有限公司 2019 年第三季度报告全文 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 7,564,613,892.03 ...

Financial Performance - The company's operating revenue for the first half of 2019 was ¥1,046,020,340.26, a decrease of 5.13% compared to ¥1,102,538,808.14 in the same period last year[18]. - The net profit attributable to shareholders of the listed company increased by 46.89% to ¥144,961,535.82 from ¥98,683,794.10 year-on-year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥103,684,189.76, up 11.43% from ¥93,047,942.74 in the previous year[18]. - The basic earnings per share rose by 36.05% to ¥0.1721 from ¥0.1265 in the same period last year[18]. - The net cash flow from operating activities was negative at -¥334,946,954.63, a decline of 383.85% compared to -¥69,225,555.01 in the previous year[18]. - Total assets at the end of the reporting period were ¥7,543,440,133.44, a decrease of 0.49% from ¥7,580,523,033.17 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company increased by 3.73% to ¥3,890,452,209.17 from ¥3,750,441,194.56 at the end of the previous year[18]. - Operating profit increased by 19.89% to RMB 17,609.88 million, while total profit rose by 19.98% to RMB 17,335.93 million[41]. - Net profit attributable to shareholders reached RMB 13,991.67 million, marking a significant increase of 41.78% year-on-year[41]. - The company reported a significant increase in pressure vessel product revenue, which grew by 166.84% year-over-year[47]. Business Operations - The company is engaged in the manufacturing and sales of industrial waste heat boilers, large and special material pressure vessels, and nuclear power products, as well as environmental comprehensive governance services[26]. - The company holds the leading position in the domestic market for industrial waste heat boilers, with a market share consistently at the top[28]. - The company achieved a net profit of CNY 22.81 million from its subsidiary, which focuses on solid waste and wastewater treatment, supporting its strategic transition to energy conservation and environmental protection[32]. - The company has received significant orders for its nuclear safety equipment, marking a shift from being a single processing manufacturer to an independent contractor, ensuring strong performance[30]. - The company is a key player in the manufacturing of special pressure vessels, holding A1 and A2 design qualifications, with a focus on enhancing production management and optimizing product structure[29]. - The company is actively expanding its photovoltaic power station EPC business, leveraging government policies supporting clean energy to enhance its core competitiveness[33]. - The company is focusing on high-end product development and expanding its upstream and downstream operations to achieve steady profit growth[28]. Market and Competitive Landscape - The company faces various risks including macroeconomic risks, market competition risks, and raw material price fluctuations[5]. - The company has seen a strong growth in nuclear power product orders, significantly exceeding previous single processing orders, indicating a successful strategic transformation[37]. - The industrial manufacturing segment generated RMB 606,362,454.36, accounting for 57.97% of total revenue, with an impressive year-on-year growth of 88.94%[45]. - The environmental engineering service segment reported revenue of RMB 10,584,899.61, a 46.60% increase compared to the previous year[45]. - The renewable energy business experienced a decline of 54.30%, with revenue dropping to RMB 309,033,871.98 from RMB 676,202,873.74[45]. Research and Development - Research and development investment decreased by 20.53% to RMB 11,001,248.87, reflecting a shift in focus towards operational efficiency[43]. - Investment in new technologies has increased, with R&D expenses rising to 200 million CNY, accounting for 13% of total revenue, aimed at enhancing product offerings[81]. Cash Flow and Financial Position - The company's cash and cash equivalents decreased to ¥466.44 million, down 2.96% from ¥678.08 million at the end of the previous year[49]. - Accounts receivable increased to ¥1,959.92 million, representing 25.98% of total assets, a slight increase of 0.65% from the previous year[49]. - Inventory decreased to ¥928.30 million, accounting for 12.30% of total assets, down 5.08% from the previous year[49]. - Fixed assets increased significantly to ¥1,241.74 million, up 7.58% from the previous year[50]. - The company reported a total of CNY 1,898,884,339.50 in total liabilities as of June 30, 2019[152]. - The company's total current assets were CNY 5,353,853,820.00, slightly down from CNY 5,533,721,616.80[146]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[109]. - The company has implemented strict compliance with national environmental protection standards, ensuring that all pollutants are discharged within legal limits[110]. - The company has made significant investments in environmental protection facilities, adhering to the "three simultaneous" policy during project construction[110]. - The company has reported no major environmental pollution incidents during the reporting period[110]. - The company is committed to continuous improvement in its environmental performance and compliance with regulatory requirements[110]. Corporate Governance and Shareholder Matters - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has made commitments to avoid seeking actual control of the company through various means for 60 months following the completion of the major asset restructuring[84]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period[92]. - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[95]. - The total number of common shareholders at the end of the reporting period was 46,196[130]. - Xu Yuansheng holds 11.42% of the shares, with a total of 96,227,848 shares[130].