Financial Performance - The company's operating revenue for Q1 2020 was ¥609,010,637.93, a decrease of 20.35% compared to ¥764,648,039.28 in the same period last year[8]. - The net profit attributable to shareholders for Q1 2020 was ¥71,192,422.71, down 27.63% from ¥98,376,129.42 year-on-year[8]. - Basic earnings per share for Q1 2020 were ¥0.0658, a decrease of 27.61% from ¥0.0909 in the same period last year[8]. - The company's operating profit for the current period is approximately ¥79.53 million, a decrease from ¥116.24 million in the previous period, representing a decline of about 31.5%[54]. - Total profit for the current period is approximately ¥79.77 million, compared to ¥116.31 million in the previous period, indicating a decrease of around 31.4%[54]. - The company's total comprehensive income for the current period is approximately ¥74.43 million, down from ¥106.58 million, indicating a decline of about 30.1%[57]. - Operating revenue for the current period is approximately ¥368.83 million, a decrease from ¥484.75 million in the previous period, representing a decline of about 24%[58]. - Operating costs for the current period are approximately ¥274.74 million, down from ¥311.93 million, reflecting a decrease of around 12%[58]. Cash Flow - The net cash flow from operating activities was ¥24,093,496.29, representing a significant decline of 93.22% compared to ¥355,161,801.25 in the previous year[8]. - Cash flow from operating activities for the current period is approximately ¥587.88 million, compared to ¥1,075.55 million in the previous period, a decrease of about 45.5%[65]. - The net cash flow from financing activities was 523,947,186.84, a turnaround from a negative cash flow of -430,782,535.76 in the previous period[71]. - Cash inflow from financing activities totaled 1,422,473,800.00, compared to 315,100,000.00 in the previous period, representing an increase of approximately 351.5%[71]. - The total cash and cash equivalents at the end of the period reached 763,665,384.41, up from 142,407,871.73, marking an increase of approximately 436.5%[70]. Assets and Liabilities - The total assets at the end of the reporting period were ¥10,420,353,641.59, an increase of 4.97% from ¥9,926,635,026.60 at the end of the previous year[8]. - Total liabilities increased to approximately CNY 5.25 billion from CNY 4.83 billion[36]. - Total current assets amounted to CNY 5,162,678,951.92 as of December 31, 2019, unchanged from January 1, 2020[89]. - Total liabilities reached CNY 4,827,705,017.57, with current liabilities at CNY 3,941,166,072.95[85]. - The company's equity totaled CNY 5,098,930,009.03, with total equity attributable to shareholders at CNY 4,896,277,670.28[85]. Research and Development - Research and development expenses decreased by 83.45% due to reduced spending amid the pandemic[19]. - The company reported a decrease in research and development expenses to CNY 876,943.34 from CNY 5,297,636.43, a reduction of approximately 83.5%[51]. - Research and development expenses for the current period are approximately ¥501,030, significantly lower than ¥2.73 million in the previous period, indicating a reduction of about 81.7%[58]. Shareholder Information - The top shareholder, Sichuan Development Environmental Investment Group Co., Ltd., holds 25.31% of the shares, totaling 273,670,000 shares[11]. - The company did not engage in any repurchase transactions during the reporting period[14]. - The total equity attributable to shareholders increased to CNY 4,946,247,713.37 from CNY 4,894,042,246.72, reflecting a growth of about 1.1%[47]. Government Support - The company received government subsidies amounting to ¥68,562.20 during the reporting period[8]. Accounting Changes - The company began implementing the new revenue recognition standard from January 1, 2020[87]. - The company began implementing the new revenue recognition and leasing standards from January 1, 2020[97].

Financial Performance - The company's operating revenue for 2019 was ¥3,375,298,869.22, a decrease of 17.43% compared to ¥4,087,726,428.90 in 2018[23]. - The net profit attributable to shareholders for 2019 was ¥379,901,458.13, down 27.63% from ¥524,917,581.60 in 2018[23]. - The net profit after deducting non-recurring gains and losses was ¥376,323,251.80, a decrease of 22.39% from ¥484,890,254.30 in 2018[26]. - The total assets at the end of 2019 were ¥9,926,635,026.60, a decrease of 7.48% from ¥10,729,693,544.90 at the end of 2018[26]. - The net assets attributable to shareholders increased by 5.19% to ¥4,896,277,670.28 from ¥4,654,558,738.04 at the end of 2018[26]. - The basic and diluted earnings per share for 2019 were both ¥0.3513, down 27.64% from ¥0.4855 in 2018[26]. - The gross profit margin for the environmental protection industry was 22.45%, down by 6.22% from the previous year[84]. - The operating cost for the environmental protection industry was ¥2,617,596,003.80, a decrease of 10.22% from ¥2,915,638,383.52 in 2018[89]. - The company's cash flow management improved significantly in 2019, leading to a reduction in the asset-liability ratio and enhanced risk resistance[69]. Shareholder Information - The company reported a cash dividend of 1.5 RMB per 10 shares, totaling approximately 162.19 million RMB based on 1,081,272,100 shares[5]. - The company distributed cash dividends of RMB 162,190,815.00, which is 42.69% of the net profit attributable to ordinary shareholders for the year 2019[145]. - The company has maintained a consistent cash dividend policy, distributing cash dividends for three consecutive years, with amounts of RMB 108,127,210.00 in 2017 and 2018[141][142]. Business Operations - The company operates in four main business segments: operation, engineering, resource utilization, and energy saving, focusing on industrial environmental governance[43]. - The company is actively expanding its business in energy saving and resource utilization, aiming to become a leading comprehensive environmental service provider[43]. - The company is steadily promoting business expansion, strategic cooperation, and asset acquisitions in its core business areas[43]. - The company signed an EPC contract worth approximately 480 million RMB for a flue gas desulfurization system in India, marking a significant overseas market breakthrough[49]. - The company has actively participated in the "Belt and Road" initiative, expanding its overseas environmental governance business[49]. - The company’s resource utilization business, operated by Chifeng Boyuan, produced approximately 300,000 tons annually and is expanding into coastal markets such as Jiangsu and Guangdong[74]. - The company established a new energy-saving division in August 2019, focusing on industrial waste heat utilization and energy management, and has formed strategic partnerships with multiple group clients[75]. Research and Development - The company is committed to continuous investment in research and development to apply more self-developed innovative technologies in various energy-saving and environmental protection sectors[48]. - The company has established a post-doctoral workstation and a research institute to attract top talent in the environmental protection field[54]. - The company has increased its intangible assets by 31.62% compared to the previous period, primarily due to the transformation of high-tech project results from independent research and development[53]. - Research and development expenses increased by 18.84% to ¥72,597,222.52, while total R&D investment amounted to ¥131,452,583.23, accounting for 3.89% of operating revenue[97][100]. Compliance and Governance - The company received a standard unqualified audit report from Xinyong Zhonghe Accounting Firm[5]. - The company’s financial report was confirmed to be true, accurate, and complete by its board of directors and management[5]. - The company has maintained compliance with all commitments made by its actual controllers and shareholders during the reporting period[160]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[162]. - The company has strictly adhered to commitments regarding non-competition with its main business and will prioritize the interests of the listed company in case of potential conflicts[154]. Market Expansion - The company aims to expand its market presence in the southwest region of China and overseas markets, particularly in India and countries along the Belt and Road Initiative[127]. - The company is actively exploring new business areas and technology upgrades, focusing on industrial wastewater treatment and mobile source pollution control technologies[97][100]. - The company plans to strengthen risk management for international operations, including political and foreign exchange risks, as it expands into international markets[128]. Financial Management - The company reported a significant increase in accounts receivable due to explosive growth in engineering business, necessitating enhanced management of receivables[131]. - The company has reduced other receivables by 66.59%, mainly due to the recovery of approximately 230 million RMB in loans from a subsidiary[53]. - The company has decreased accounts receivable by 27.93% as a result of strengthened collection of business payments[53]. - The company reported a decrease in financial expenses by 38.14% to ¥160,584,164.17, attributed to reduced debt scale from repaying green bonds[96]. - The company’s cash and cash equivalents increased to ¥425,999,422.60, representing 4.29% of total assets, up from 3.55% at the beginning of the year[107]. Corporate Structure - The company underwent a share transfer, changing its controlling shareholder from Beijing Century Dihe Holdings to Sichuan Development Environment Investment Group[21]. - The company was transformed into a state-controlled mixed-ownership listed company in July 2019, enhancing its market expansion and operational capabilities[64]. - The company added one subsidiary, Guizhou Qingxin Wanfeng Energy Technology Co., Ltd., through a business combination under common control, and established two new subsidiaries, Inner Mongolia Yuan Zhen Testing Technology Co., Ltd. and Chifeng Boyuan Resource Utilization Co., Ltd.[92]. Audit and Reporting - The audit firm, Xinyong Zhonghe, has been engaged for 12 consecutive years, with an audit fee of 1.5 million yuan[196]. - There were no significant accounting errors requiring restatement during the reporting period[194]. - The company has not changed its accounting firm during the reporting period[196]. - The company has implemented new accounting standards effective January 1, 2019, which do not impact the consolidated net profit or equity of the company[164].

Financial Performance - Operating revenue for the reporting period was CNY 732,849,780.89, down 24.33% year-on-year[7] - Net profit attributable to shareholders of the listed company was CNY 104,315,789.82, a decrease of 26.73% compared to the same period last year[7] - Basic earnings per share were CNY 0.0964, down 26.80% year-on-year[7] - Total operating revenue for the current period was ¥732,849,780.89, a decrease of 24.3% compared to ¥968,542,091.06 in the previous period[57] - Net profit for the current period was ¥104,393,883.62, a decline of 29.0% from ¥147,028,482.13 in the previous period[60] - Total operating revenue for the current period is CNY 555,514,515.73, a decrease of 27.2% from CNY 762,371,772.93 in the previous period[68] - Operating profit for the current period is CNY 67,286,554.41, down 57.3% from CNY 157,365,836.39 in the previous period[68] - Net profit for the current period is CNY 63,999,056.28, a decline of 58.8% compared to CNY 155,523,015.69 in the previous period[71] - Total comprehensive income for the current period is CNY 63,999,056.28, a decrease of 58.8% from CNY 155,523,015.69 in the previous period[71] Assets and Liabilities - Total assets at the end of the reporting period were CNY 10,502,705,731.06, a decrease of 2.12% compared to the end of the previous year[7] - Total non-current assets reached CNY 4,987,542,989.50, a slight increase from CNY 4,940,237,961.87, representing a growth of about 0.96%[40] - The total assets decreased to CNY 10,502,705,731.06 from CNY 10,729,693,544.90, marking a decline of approximately 2.11%[40] - Current liabilities decreased to CNY 4,278,987,536.72 from CNY 5,023,570,459.83, a reduction of about 14.77%[43] - The total liabilities decreased to CNY 5,467,172,153.59 from CNY 5,912,401,912.88, reflecting a decline of approximately 7.52%[43] - The total equity increased to CNY 5,035,533,577.47 from CNY 4,817,291,632.02, indicating a growth of about 4.54%[46] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 1,004,758,492.57, an increase of 26.89%[7] - Cash and cash equivalents increased by 50.78% due to enhanced collection efforts and increased bill discounting[21] - The company reported a significant increase in cash and cash equivalents, which is crucial for future investments and operational flexibility[37] - Operating cash inflow totaled CNY 2,663,291,471.12, a decrease of 13.3% from CNY 3,071,448,357.14 in the previous period[100] - Operating cash outflow amounted to CNY 1,685,916,361.28, down from CNY 2,590,484,138.83, reflecting a 34.9% reduction[100] - Net cash flow from operating activities was CNY 977,375,109.84, an increase of 103.5% compared to CNY 480,964,218.31 in the prior period[100] - Cash flow from investing activities showed a net outflow of CNY 125,862,316.54, improving from a net outflow of CNY 138,906,079.93[100] - Cash inflow from financing activities was CNY 691,002,502.26, significantly lower than CNY 1,540,742,421.98 in the previous period[100] - Net cash flow from financing activities was a negative CNY 829,673,888.10, compared to a negative CNY 936,633,254.41 last year[103] Shareholder Information - The top ten shareholders held a total of 77,519 shares, with the largest shareholder holding 25.31%[12] - The company’s controlling shareholder changed to Sichuan Development Environment Investment Group Co., Ltd., holding 25.31% of total shares[22] - The company’s employee stock ownership plan was extended for an additional 12 months, now expiring on August 28, 2020[25] Investment and Expenses - Investment income rose significantly by 716.53% due to a change in accounting treatment for equity investments[21] - Research and development expenses for the current period are CNY 25,519,804.85, reflecting ongoing investment in innovation[75] - Financial expenses for the current period are CNY 113,356,208.43, a reduction from CNY 210,919,213.73 in the previous period[75] - The company reported a credit impairment loss of ¥36,419,875.62 for the current period[86] - The company’s research and development expenses for the current period are ¥20,813,484.56[86] Government Support - The company received government subsidies amounting to CNY 2,809,652.35 during the reporting period[7]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,653,161,205.60, a decrease of 28.06% compared to CNY 2,297,890,258.46 in the same period last year [25]. - The net profit attributable to shareholders of the listed company was CNY 218,256,135.69, down 38.11% from CNY 352,644,637.86 year-on-year [25]. - Basic earnings per share decreased by 38.82% to CNY 0.2019 from CNY 0.3300 in the same period last year [25]. - The net profit after deducting non-recurring gains and losses was CNY 217,025,137.75, down 38.28% from CNY 351,646,569.80 in the previous year [25]. - The company's gross profit margin decreased due to a decline in revenue, with operating costs also reduced by 21.34% to RMB 1,281,034,618.22 [70]. - The atmospheric governance business generated RMB 1,158,933,558.88, accounting for 70.10% of total revenue, down 34.79% from the previous year [75]. Cash Flow and Assets - The net cash flow from operating activities increased significantly by 431.23%, reaching CNY 683,633,301.30 compared to CNY 128,688,468.16 in the previous year [25]. - Total assets at the end of the reporting period were CNY 10,400,801,220.96, a decrease of 3.07% from CNY 10,729,693,544.90 at the end of the previous year [25]. - The company reported a net increase in cash and cash equivalents of RMB 31,621,902.71, a significant recovery from a decrease of RMB 528,828,944.90 in the previous year [70]. - The company's total assets included cash and cash equivalents of RMB 407,862,810.25, accounting for 3.92% of total assets, down from 4.26% in the previous year [76]. - Accounts receivable increased to RMB 2,775,869,552.33, representing 26.69% of total assets, up from 21.77% in the previous year [76]. Investments and R&D - The company made significant investments totaling RMB 73,732,930.00 during the reporting period, an increase of 17.28% compared to RMB 62,870,450.00 in the same period last year [81]. - Research and development expenses decreased by 4.39% to RMB 51,392,380.47 from RMB 53,750,485.99 in the previous year [70]. - Intangible assets increased by 6.43% as a result of capitalizing R&D expenses from high-tech project outcomes [40]. - The company has 109 patents, including 24 invention patents and 85 utility model patents, showcasing its innovation capabilities [42]. Market Position and Strategy - The company ranked 29th in the 2019 China Environmental Enterprises Top 50 list, reflecting its strong market position [45]. - The company is actively expanding its market presence in non-electric sectors such as steel and petrochemicals, securing more orders and project implementations [38]. - The company maintains a leading position in the air pollution control industry, with significant order acquisition and project operation metrics [38]. - The company has established strategic cooperation agreements with over ten quality peers in the industry, promoting the development of ultra-low emission projects in coal-fired power plants [48]. Corporate Governance and Compliance - The company plans not to distribute cash dividends or issue bonus shares [6]. - The company has strictly adhered to its commitments regarding share transfer limitations for directors and senior management [96]. - There were no significant related party transactions during the reporting period [110]. - The company did not face any major litigation or arbitration matters during the reporting period [104]. Financing and Debt Management - The company has a total approved guarantee amount of RMB 311,200 million, with an actual guarantee balance of RMB 117,273.63 million, which accounts for 24.61% of the company's net assets [127]. - The company provided a debt guarantee for assets with a liability ratio exceeding 70%, totaling RMB 38,250 million [130]. - The company issued green bonds with a total balance of 108,557.45 million RMB, with an interest rate of 3.70% [173]. - The company maintains an AA credit rating for its bonds, as confirmed by the rating agency [179]. Operational Efficiency - The company has optimized its organizational structure and management efficiency, leading to significant improvements in its operational performance [67]. - The current ratio increased to 128.41% from 115.25%, a rise of 13.16% [186]. - Debt-to-asset ratio decreased to 52.60% from 55.10%, a decline of 2.50% [186]. - EBITDA interest coverage ratio improved to 6.72 from 5.18, an increase of 29.73% [186].

Financial Performance - The company reported a total revenue of 1,081,272,100 RMB for the year 2018, with a cash dividend distribution of 1 RMB per 10 shares to all shareholders[5]. - The company's operating revenue for 2018 was CNY 4,087,726,428.90, a decrease of 0.16% compared to 2017[24]. - The net profit attributable to shareholders for 2018 was CNY 524,917,581.60, down 19.45% from the previous year[24]. - The net profit after deducting non-recurring gains and losses was CNY 484,890,254.30, a decrease of 19.40% year-on-year[24]. - The basic earnings per share for 2018 were CNY 0.4855, reflecting a decrease of 20.04% compared to 2017[24]. - The total assets at the end of 2018 were CNY 10,729,693,544.90, down 15.22% from the end of 2017[24]. - The net assets attributable to shareholders increased by 9.95% to CNY 4,654,558,738.04 at the end of 2018[24]. - The company reported a significant increase in non-recurring gains from the disposal of non-current assets amounting to CNY 45,793,386.35 in 2018[30]. - The company has consistently implemented a cash dividend policy, distributing ¥108,127,210 in cash dividends for the 2018 fiscal year, maintaining a clear and transparent process[136]. - The remaining undistributed profits for 2018 amounted to ¥2,345,119,106.23, which will be carried forward to future years[138]. Business Operations - The company has maintained its main business operations without any changes since its listing[22]. - The company has not experienced any changes in its controlling shareholders during the reporting period[22]. - The company has a total of 1,081,272,100 shares outstanding as of the reporting date[5]. - The company has appointed Xinyong Zhonghe as its auditing firm for the reporting period[23]. - The company’s financial advisor has not changed during the reporting period[23]. - The company has established strategic partnerships with over ten quality peers in the industry to promote the development of ultra-low emission projects in coal-fired power plants[52]. - The company is actively expanding its business into steel, non-ferrous metals, and petrochemical industries for pollution control and wastewater treatment[36]. - The company has developed several advanced environmental technologies, including high-efficiency desulfurization technology and zero-water wet desulfurization technology[36]. Market and Industry Position - The company has maintained a leading position in the ultra-low emission transformation of coal-fired power plants, with significant order acquisition and operational metrics ranking among the top in the industry[39]. - The non-electric market is expected to remain prosperous, contributing to stable growth in the company's main business[39]. - The company is facing rapid growth in the environmental protection industry, with increasing competition and risks associated with market changes and policy implementations[124]. - The company anticipates stable growth in its business due to stringent national pollution discharge standards and ongoing market demand in the non-electric sector[60]. Research and Development - The company holds 101 authorized patents, including 21 invention patents and 80 utility model patents, demonstrating its strong innovation capabilities[44]. - The company is focusing on developing key technologies in air, water, and solid waste management to meet environmental improvement demands[95]. - The company’s new technologies, such as the SPC-3D technology for desulfurization and dust removal, have successfully helped over 600 units achieve ultra-low emissions[68]. - The company has successfully developed and applied the SPC-3D technology, which has been implemented in over 600 coal-fired units, providing a cost-effective solution for ultra-low emissions[46]. Financial Management - The company is addressing cash management risks stemming from rising accounts receivable due to explosive growth in EPC engineering business, with measures to improve collection rates[126]. - The company is focused on mitigating risks related to mergers and acquisitions by conducting thorough feasibility studies and enhancing internal control management[127]. - The company has significant capital expenditure plans, indicating a growth phase[142]. - The company’s liquidity has been enhanced through related party debts, supporting market expansion and project development[178]. Subsidiaries and Investments - The company established several new subsidiaries during the reporting period, including Xiong'an Fresh Smart Technology Co., Ltd. and Guizhou Fresh Wanfeng Energy Technology Co., Ltd., which are now operational with no significant impact on overall performance[121]. - The company invested approximately RMB 59 million to acquire a 10.93% stake in Beijing Bico Measurement Technology Co., Ltd., and established a new subsidiary in Xiong'an New Area[64]. - The company has established several subsidiaries focused on environmental technology, including Tianjin Xinqingyuan Environmental Technology Co., Ltd. with an investment of ¥10,000,000.00 and a 100% ownership stake[110]. - Guizhou Qingxin Wanfeng Energy Technology Co., Ltd. was established with an investment of ¥51,000,000.00, holding a 51% stake, focusing on air pollution control and catalysts[110]. Risk Management - Management risks are anticipated due to the diversification of business models and an increase in employee numbers, necessitating enhanced management practices and training[125]. - The company is focused on developing new technologies and products in the environmental sector, aiming for long-term operational sustainability[110]. - The company has not reported any fundraising activities during the reporting period[120]. Corporate Governance - The company respects and protects the legitimate rights of stakeholders, including employees, suppliers, and customers, promoting cooperation and communication to balance interests and achieve sustainable development[199]. - The company strictly adheres to information disclosure obligations, ensuring that information is disclosed in a truthful, accurate, complete, timely, and fair manner[200]. - The company has implemented changes in accounting policies as per the Ministry of Finance's requirements for the 2018 financial statements[151].

Financial Performance - The company's operating revenue for Q1 2019 was ¥764,648,039.28, a decrease of 24.58% compared to ¥1,013,900,862.10 in the same period last year[7]. - Net profit attributable to shareholders was ¥98,376,129.42, down 15.44% from ¥116,344,036.54 year-on-year[7]. - Basic and diluted earnings per share were both ¥0.0909, representing a decrease of 14.65% from ¥0.1065 in the same period last year[7]. - Total operating revenue for the current period is ¥764,648,039.28, a decrease of 24.6% compared to ¥1,013,900,862.10 in the previous period[53]. - Net profit for the current period is ¥106,621,261.76, a decrease of 23.2% from ¥138,727,431.48 in the previous period[56]. - The company's gross profit margin for the current period is approximately 10.3%, compared to 13.5% in the previous period[53]. - The total comprehensive income attributable to the parent company's owners for the current period is ¥98,333,376.45, compared to ¥116,278,150.81 in the previous period[60]. - Total comprehensive income amounted to CNY 95,546,644.46, compared to CNY 130,724,756.51 in the previous period[67]. Cash Flow - The net cash flow from operating activities was ¥355,161,801.25, a significant increase of 518.00% compared to a negative cash flow of -¥84,967,139.46 in the previous year[7]. - Cash flow from operating activities generated a net amount of CNY 355,161,801.25, a significant improvement from a negative CNY 84,967,139.46 in the prior period[71]. - Cash inflow from operating activities totaled CNY 1,075,553,007.36, slightly up from CNY 1,042,851,433.53 year-over-year[71]. - Cash outflow from operating activities decreased to CNY 720,391,206.11 from CNY 1,127,818,572.99, indicating improved cost management[71]. - Cash flow from investing activities resulted in a net outflow of CNY 13,435,303.53, compared to a larger outflow of CNY 81,870,191.17 in the previous period[74]. - Cash flow from financing activities showed a net outflow of CNY 430,782,535.76, an improvement from a net outflow of CNY 482,623,129.95 last year[74]. - The ending cash and cash equivalents balance was CNY 142,407,871.73, down from CNY 270,641,441.85 in the previous period[68]. - The company reported a decrease in cash paid for purchasing goods and services to CNY 402,944,891.76 from CNY 519,117,794.64[71]. - The company’s cash inflow from sales of goods and services reached CNY 815,487,518.52, reflecting a strong performance in revenue generation[68]. Assets and Liabilities - Total assets at the end of the reporting period were ¥10,545,185,725.05, a decrease of 1.72% from ¥10,729,693,544.90 at the end of the previous year[7]. - The net assets attributable to shareholders increased by 2.12% to ¥4,753,390,540.48 from ¥4,654,558,738.04 at the end of the previous year[7]. - Total current assets decreased from CNY 5,789,455,583.03 to CNY 5,591,716,683.76, a decline of approximately 3.43%[36]. - Total liabilities decreased to CNY 5,620,609,598.42 from CNY 5,912,401,912.88, representing a reduction of approximately 4.9%[39]. - The total owner's equity increased to CNY 4,924,576,126.63 from CNY 4,817,291,632.02, reflecting a growth of about 2.2%[42]. - The total current liabilities decreased to CNY 4,712,072,269.19 from CNY 5,023,570,459.83, a decrease of approximately 6.2%[39]. - The total non-current liabilities decreased to CNY 908,537,329.23 from CNY 888,831,453.05, indicating a slight increase of about 2.0%[39]. - The company's total liabilities were CNY 5,912,401,912.88, while total equity reached CNY 4,817,291,632.02[87]. Shareholder Information - The top shareholder, Beijing Century Dihe Holdings, held 45.31% of the shares, totaling 479,871,570 shares[11]. - The company reported no non-recurring gains or losses that would be classified as regular gains or losses[7]. - There were no agreements for repurchase transactions among the top ten shareholders during the reporting period[17]. Inventory and Receivables - Accounts receivable increased by 111.27% due to an increase in bank acceptance bills received[20]. - Accounts receivable and notes receivable totaled CNY 3,160,171,068.43, down from CNY 3,328,553,034.26, reflecting a decrease of approximately 5.06%[33]. - Inventory increased from CNY 1,396,293,556.12 to CNY 1,441,023,446.71, an increase of about 3.21%[33]. - The company's inventory increased to CNY 1,329,769,607.50 from CNY 1,291,398,274.17, showing an increase of about 3.0%[46].

Financial Performance - Operating revenue for the reporting period was ¥968,542,091.06, representing a decline of 38.86% year-on-year [9]. - Net profit attributable to shareholders was ¥142,373,632.00, down 52.83% compared to the same period last year [9]. - Basic earnings per share decreased by 53.18% to ¥0.1317 [9]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥142,388,312.64, down 51.73% year-on-year [9]. - The company reported a net profit of ¥495,018,269.86 for the year-to-date, a decrease of 19.84% compared to the same period last year [9]. - The estimated net profit attributable to shareholders for 2018 is expected to range from 521.33 million to 716.82 million RMB, representing a change of -20% to 10% compared to 2017 [25]. Cash Flow - The net cash flow from operating activities increased significantly by 1,987.68% to ¥791,837,467.35 [9]. - Net cash flow from operating activities increased by 1,988% due to enhanced collection efforts [18]. - The net cash flow from investing activities decreased by 82% due to a slowdown in investments [18]. - The net cash flow from financing activities decreased by 562% due to dividend payments and repayment of bank loans [18]. Assets and Shareholder Information - Total assets at the end of the reporting period amounted to ¥11,972,193,656.52, a decrease of 5.40% compared to the previous year [9]. - The total number of shareholders at the end of the reporting period was 90,657 [13]. - The largest shareholder, Beijing Century Dihe Holdings Co., Ltd., held 45.31% of the shares, totaling 489,871,570 shares [13]. Financial Position and Expenses - The weighted average return on net assets was 2.95%, a decrease of 4.39% year-on-year [9]. - Financial expenses increased by 46% due to rising funding costs [18]. - Long-term payables increased by 38% due to the development of sale-leaseback business [18]. Corporate Actions and Plans - The company plans to introduce strategic investors through debt-to-equity swaps or equity transfers [21]. - The company terminated the plan to issue shares for asset acquisition due to complex negotiations with target company shareholders [21]. Compliance and Governance - No violations of external guarantees during the reporting period [27]. - No non-operating fund occupation by controlling shareholders or related parties during the reporting period [28]. - No entrusted financial management activities during the reporting period [29]. - No research, communication, or interview activities conducted during the reporting period [30]. Business Performance - The company’s BOT business continues to show stable growth, while the EPC business has seen a decline in gross margin [25].

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 2,297,890,258.46, representing a 48.30% increase compared to CNY 1,549,445,188.15 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 352,644,637.86, an increase of 11.70% from CNY 315,705,629.02 in the previous year[18]. - The net cash flow from operating activities reached CNY 128,688,468.16, showing a significant increase of 164.11% compared to CNY 48,724,535.31 in the same period last year[18]. - The company reported a basic earnings per share of CNY 0.33, up 13.79% from CNY 0.29 in the previous year[18]. - The gross profit margin decreased by 5.84% year-on-year, with the cost of sales increasing by 61.63% to ¥1,628,514,826.17, primarily due to increased construction volume and rising labor and material costs[49]. - The company reported a significant increase in other business revenue, which rose by 226.46% to ¥520,708,377.25, compared to ¥159,501,426.66 in the previous year[47]. - The company’s revenue from air pollution control business was ¥1,777,181,881.21, accounting for 77.34% of total revenue, with a year-on-year increase of 27.86%[47]. - The company reported a significant increase in accounts receivable due to explosive growth in EPC engineering business, posing challenges to cash flow management[70]. - The company plans to enhance management of accounts receivable by assigning responsibility for collections and incorporating collection rates into performance evaluations[70]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 12,310,323,224.23, a decrease of 2.73% from CNY 12,655,944,688.29 at the end of the previous year[18]. - The total liabilities decreased to ¥7,395,300,685.12 from ¥8,012,357,843.82, indicating a decrease of about 7.69%[151]. - The company reported a total current assets of ¥6,424,451,235.19, down from ¥6,698,250,390.11, a decrease of approximately 4.09%[150]. - The company’s total assets decreased to ¥12,310,323,224.23 from ¥12,655,944,688.29, a reduction of approximately 2.72%[150]. - The total liabilities at the end of the reporting period were CNY 3,841,750,000, indicating a stable financial position[176]. Investments and R&D - The company invested ¥53,750,485.99 in research and development, a 14.98% increase from ¥46,746,153.97 in the previous year, emphasizing its commitment to technological innovation[45]. - The company has developed over 90 core technology patents and is applying for more than 40 additional patents, showcasing its strong innovation capabilities[30]. - The company aims to increase its R&D investment by 15% in the upcoming fiscal year to support innovation and product development[178]. Business Operations and Strategy - The company is focused on industrial pollution control, with core business in flue gas desulfurization, denitrification, and dust removal, and is expanding into steel, non-ferrous metals, and petrochemical industries[26]. - The company operates mainly through EPC and BOT models, ensuring comprehensive responsibility for project quality, safety, costs, and schedules[27]. - The company is expanding into new businesses such as flue gas dewatering and zero discharge of desulfurization wastewater to ensure sustainable development in the coal-fired power plant sector[28]. - The company is actively pursuing mergers and acquisitions to bolster its competitive position in the market[105]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[162]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[6]. - The largest shareholder, Beijing Century Dihe Holdings, holds 45.31% of the shares, totaling 489,871,570 shares, with 409,180,400 shares pledged[119]. - The total number of ordinary shareholders at the end of the reporting period was 90,648[119]. - The company has a stock option plan with a first exercise period for reserved stock options, with 11 recipients eligible to exercise 1,184,000 options[115]. - The company’s stock option incentive plan saw 730,200 options exercised, increasing the total share capital by the same amount[84]. Financial Management and Compliance - The company is committed to maintaining transparency and compliance with regulatory requirements in its financial reporting[107]. - The company maintained a loan repayment rate and interest payment rate of 100% during the reporting period[141]. - The company has not engaged in any significant non-equity investments or securities investments during the reporting period[60][62]. - The company has not sold any significant assets or equity during the reporting period[64][65]. - The company has no major litigation or arbitration matters during the reporting period[79]. Market and Industry Outlook - The non-electric sector is expected to see growth due to new pollution discharge standards, creating new opportunities for the company in various industrial sectors[39]. - The company anticipates that operating income will continue to grow, but increased market competition is expected to lead to a decline in EPC gross margins and rising financial costs due to changes in the financing environment[67]. - The company is facing risks from rapid industry changes and increased competition, prompting it to actively monitor industry trends and adjust strategies accordingly[68].

Financial Performance - The company's operating revenue for Q1 2018 was ¥1,013,900,862.10, representing a 50.77% increase compared to ¥672,467,292.43 in the same period last year[8] - Net profit attributable to shareholders was ¥116,344,036.54, up 22.30% from ¥95,129,107.01 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥116,233,840.50, reflecting a 28.34% increase from ¥90,569,360.23 in the previous year[8] - The basic earnings per share increased by 20.20% to ¥0.1065 from ¥0.0886 in the same period last year[8] - Total operating revenue for Q1 2018 reached CNY 1,013,900,862.10, a significant increase of 50.9% compared to CNY 672,467,292.43 in the same period last year[47] - The total profit for the period was CNY 164,246,461.26, representing a 44% increase from CNY 113,900,890.36 in the previous year[48] - The gross profit margin improved to 36.4% in Q1 2018, compared to 32.8% in Q1 2017[51] Cash Flow and Liquidity - The company reported a net cash flow from operating activities of -¥84,967,139.46, a significant decrease of 602.53% compared to ¥16,907,819.16 in the previous year[8] - Cash and cash equivalents decreased by 65.99% due to the repayment of due short-term financing[15] - Cash flow from operating activities was CNY 704,475,805.18, significantly higher than CNY 436,202,658.17 in the same period last year[54] - The net cash flow from operating activities was -84,967,139.46 CNY, compared to 16,907,819.16 CNY in the previous period, indicating a significant decline[55] - The ending cash and cash equivalents balance was 270,641,441.85 CNY, down from 368,959,817.64 CNY in the previous period[56] - The company’s cash and cash equivalents decreased by 649,522,742.47 CNY during the period, compared to a decrease of 835,554,945.22 CNY in the previous period[56] Assets and Liabilities - Total assets at the end of the reporting period were ¥12,432,457,024.50, down 1.77% from ¥12,655,944,688.29 at the end of the previous year[8] - The total liabilities decreased to CNY 7,650,758,213.05 from CNY 8,012,357,843.82, a reduction of 4.5%[41] - The company's total assets decreased to CNY 12,432,457,024.50 from CNY 12,655,944,688.29, a decline of 1.8%[42] - Short-term borrowings increased significantly to CNY 1,730,999,800.00 from CNY 1,198,499,800.00, representing a rise of 44.4%[41] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 93,035[11] - The largest shareholder, Beijing Century Dihua Holdings Co., Ltd., held 45.09% of the shares, with 369,370,400 shares pledged[11] - The company’s management has committed to not reducing their shareholdings for six months following the completion of their stock purchase[30] - The company has adhered to all commitments made regarding shareholding and stock options[30] - Company executives plan to increase their holdings in the company within three months, reflecting confidence in its stable development[26] Investments and Future Plans - The company plans to establish a joint venture in Guizhou with a total investment of RMB 100 million[16] - A wholly-owned subsidiary is planned to be set up in Xiong'an with an investment of RMB 50 million[17] - The company subscribed to 10,933,400 shares of Beijing Bico Measurement Technology Co., Ltd. for a total investment of RMB 59,040,360[18] - The increase in performance is attributed to the production commencement of the Bouyuan Technology phenolic project, tar hydrogenation, and several new special operating projects[31] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[49] Operational Costs - Operating costs increased by 57.51% due to the production commencement of new projects[15] - Total operating costs for Q1 2018 were CNY 866,736,958.13, up from CNY 577,638,487.70, reflecting a year-over-year increase of 50.1%[47] - Operating expenses, including sales and management costs, totaled CNY 68,803,017.68, which is a 20% increase from CNY 57,376,783.69 in the previous year[48]

Financial Performance - The company's operating revenue for 2017 was approximately ¥4.09 billion, representing a 20.63% increase compared to ¥3.39 billion in 2016[17]. - The net profit attributable to shareholders for 2017 was approximately ¥651.66 million, a decrease of 12.44% from ¥744.20 million in 2016[17]. - The net profit after deducting non-recurring gains and losses was approximately ¥601.60 million, down 18.93% from ¥742.08 million in 2016[17]. - The net cash flow from operating activities was negative at approximately -¥75.82 million, a decline of 189.26% compared to ¥84.95 million in 2016[17]. - The total assets at the end of 2017 were approximately ¥12.66 billion, an increase of 12.84% from ¥11.22 billion at the end of 2016[17]. - The net assets attributable to shareholders at the end of 2017 were approximately ¥4.23 billion, up 16.72% from ¥3.63 billion at the end of 2016[17]. - The basic earnings per share for 2017 were ¥0.6072, a decrease of 13.06% from ¥0.6984 in 2016[17]. - The weighted average return on net assets for 2017 was 16.74%, down 6.52% from 23.26% in 2016[17]. - The company's total revenue for 2017 reached ¥4,094,220,132.55, representing a year-on-year increase of 20.63% compared to ¥3,393,990,299.80 in 2016[43]. - The air pollution control business accounted for 84.90% of total revenue, generating ¥3,475,948,405.34, with a year-on-year growth of 6.55%[43]. - The other business segment saw significant growth, with revenue increasing by 369.39% to ¥618,271,727.21, up from ¥131,718,801.18 in 2016[43]. - The gross profit margin for the environmental protection industry was 29.42%, a decrease of 7.97% from the previous year[45]. Cash Flow and Investments - The net cash flow from operating activities turned negative at -¥75,824,839.99, a decrease of 189.26% compared to the previous year[60]. - Investment cash inflow surged by 6,490.21% to ¥1,064,550,127.41, while investment cash outflow decreased by 26.01% to ¥1,743,497,601.59[60]. - The net cash flow from financing activities decreased by 84.39% to ¥470,544,250.63, with total financing cash inflow dropping by 34.98%[60]. - The company's total investment in 2017 was ¥237,040,360.00, a decrease of 55.65% from ¥534,500,000.00 in the previous year[66]. - The company’s financial expenses surged by 104.38% to ¥213,872,424.24, primarily due to increased interest expenses from higher financing amounts[55]. Business Expansion and Market Position - The company has maintained its leading position in the coal-fired power plant desulfurization and denitrification market, with order acquisition and project operation metrics ranking first for three consecutive years[25]. - The company has successfully expanded into non-electric sectors, including steel, coking, non-ferrous metals, and petrochemicals, with multiple engineering cases and market orders obtained[25]. - The company is actively pursuing new business areas such as flue gas dewatering and desulfurization wastewater zero discharge projects, ensuring sustainable growth in the coal-fired power sector[25]. - The company is expanding its business into non-electric sectors, including steel, coking, and petrochemicals, to capture more market orders as industrial pollution control gains heightened attention[35]. - The company aims to leverage its leading technology in flue gas treatment to penetrate broader markets, including wastewater and solid waste management[77]. - The company has established a subsidiary in India and a joint venture in Germany to facilitate international market expansion and align with the Belt and Road Initiative[78]. Research and Development - R&D investment increased by 13.83% to ¥133,821,876.68 in 2017 from ¥117,562,298.63 in 2016[57]. - The number of R&D personnel rose by 42.99% to 316 in 2017, while the proportion of R&D personnel to total employees decreased by 3.12% to 12.95%[57]. - The company has developed nearly 90 core technology patents and is applying for over 40 additional patents, particularly highlighting the SPC-3D technology for flue gas purification, which has been implemented in over 600 domestic power generation units[28][29]. - The company is actively developing new technologies such as "SCR flue gas denitrification system optimization" and "low-temperature denitrification technology," which are nearing completion and will enhance its core competitiveness[58]. Corporate Governance and Shareholder Relations - The company has ensured that minority shareholders have ample opportunities to express their opinions and that their legal rights are fully protected[94]. - The profit distribution plan was strictly executed according to the company's articles of association and approved by the board of directors and shareholders' meeting[93]. - The company has maintained a continuous relationship with its auditing firm, with the current auditor having served for 10 years[108]. - The company emphasizes the protection of stakeholders' rights, including employees, suppliers, and customers, to achieve sustainable development[135]. - The company strictly adheres to information disclosure obligations, ensuring timely and accurate reporting as per legal requirements[136]. Employee and Management Structure - The company has a total of 2,440 employees, with 1,332 in the parent company and 1,108 in major subsidiaries[190]. - The company employs 1,607 production personnel, 189 sales personnel, and 343 technical personnel, reflecting a diverse workforce[190]. - The company has implemented a training plan to enhance employee skills and knowledge sharing, aligning with future development needs[195]. - The management team consists of qualified individuals selected through a transparent process[200]. - The company has established an independent labor, personnel, and salary management system[200]. Risk Management and Compliance - The company anticipates risks from rapid industry changes and increased competition, necessitating proactive market trend monitoring[86]. - The company is committed to improving internal management and training to address the challenges posed by its growing workforce[87]. - The company maintains strict compliance with legal and regulatory requirements in its governance structure[200]. Dividend Distribution - The company plans to continue fulfilling its corporate social responsibilities and aims to be a trusted brand in society[138]. - The company has consistently implemented a positive profit distribution policy, maintaining cash dividends to reward investors while achieving good operational performance[93]. - In 2017, the company distributed cash dividends of 108,127,210 RMB, which accounted for 16.59% of the net profit attributable to shareholders[98]. - The cash dividend for 2016 was 107,319,660 RMB, representing 14.42% of the net profit attributable to shareholders[98]. - The cash dividend distribution plan for the current reporting period is set at 1.00 RMB per 10 shares, totaling 108,127,210 RMB[99].