Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,655,102,282.77, representing a 35.26% increase compared to ¥1,223,685,513.64 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was ¥164,247,120.93, up 23.77% from ¥132,701,845.07 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was ¥164,275,051.80, reflecting a 23.92% increase from ¥132,567,192.92 year-on-year[22]. - The net cash flow from operating activities was ¥157,127,196.77, which is a 12.65% increase compared to ¥139,479,161.59 in the same period last year[22]. - Total assets at the end of the reporting period reached ¥12,855,759,677.99, a 17.29% increase from ¥10,960,870,318.00 at the end of the previous year[22]. - The net assets attributable to shareholders of the listed company were ¥6,268,305,543.98, marking a 34.22% increase from ¥4,670,206,686.16 at the end of the previous year[22]. - Basic earnings per share for the reporting period were ¥0.1322, up 5.34% from ¥0.1255 in the same period last year[22]. - The diluted earnings per share also stood at ¥0.1322, reflecting a 5.34% increase compared to ¥0.1255 year-on-year[22]. - The weighted average return on net assets was 3.46%, an increase of 0.73% from 2.73% in the previous year[22]. - The company’s operating costs increased to ¥1,282,100,222.65, a 34.89% rise from ¥950,488,035.28, in line with the revenue growth[53]. Business Operations - The company operates in the industrial environmental governance sector, focusing on industrial flue gas treatment, energy conservation, resource utilization, hazardous waste management, and ecological restoration[32]. - As of the end of the reporting period, the company has five business divisions: Operations, Engineering, Resource Utilization, Hazardous Waste, and Energy Conservation[32]. - The company has developed proprietary technologies including high-efficiency spraying, dust removal, and various flue gas purification techniques, contributing to its competitive edge in the market[35]. - The company is actively exploring carbon capture and utilization technologies, aiming for net-zero carbon emissions in the coking industry through a joint project with Shanxi Jinyan Industrial Group[39]. - The company has expanded its international presence, securing multiple project collaborations in countries such as India, Brazil, Pakistan, Turkey, and South Korea[36]. - The company emphasizes innovation and has established a modern organizational structure to enhance operational efficiency and attract top talent in the environmental sector[42]. - The company is positioned to benefit from supportive environmental policies and aims to increase its market share in the energy conservation and resource utilization sectors[35]. - The company has invested in two hazardous waste disposal projects and is expanding its capabilities in wastewater treatment and ecological restoration[39]. - The company is committed to maintaining a strong brand presence and operational excellence while pursuing international market opportunities[40]. - The company is focused on achieving significant growth in the green industry by 2025, aligning with national carbon reduction goals[35]. Research and Development - The company has a well-established R&D team, including postdoctoral researchers and senior professionals, which supports its comprehensive innovation system across various stages of industrialization[43]. - The company's total assets include 355 patents, with 69 being invention patents and 286 utility model patents, showcasing its strong focus on technological innovation[44]. - Research and development expenses decreased by 37.72% to ¥41,458,953.02, as existing projects entered later stages and new projects are being prepared[60]. Financial Strategies and Investments - The company raised ¥1.58 billion through a private placement of 322,448,979 shares, which will optimize its capital structure and provide sufficient funding for future development[47]. - The company reported an investment amount of ¥333,250,508.57 for the reporting period, a significant increase of 643.43% compared to ¥44,814,113.87 in the same period last year[73]. - The company completed a non-public offering of A-shares, raising a total of CNY 1,579,999,997.10, with a net amount of CNY 1,573,610,894.29 after expenses[148]. - The company has completed a sale-leaseback financing lease with ICBC Financial Leasing for a total financing amount of RMB 150 million[119]. - A sale-leaseback financing lease with CITIC Financial Leasing for RMB 250 million has been completed for desulfurization assets[120]. - The company is executing a sale-leaseback financing lease with China Merchants Finance Leasing for RMB 100 million related to desulfurization assets[123]. - The total guarantee amount approved during the reporting period was CNY 72,000 million, with actual guarantees amounting to CNY 61,647 million[138]. - The total approved guarantee amount at the end of the reporting period was CNY 152,000 million, with an actual guarantee balance of CNY 77,909.4 million[140]. - The actual total guarantee amount accounted for 12.43% of the company's net assets[141]. Market and Competitive Landscape - The company is facing risks from market competition, with a focus on enhancing innovation and management capabilities to maintain a competitive edge[80]. - The company is actively monitoring international business risks and has implemented measures to mitigate potential impacts from macroeconomic fluctuations[80]. Corporate Governance and Compliance - The company has not faced any administrative penalties related to environmental issues during the reporting period[96]. - There were no significant lawsuits or arbitration matters during the reporting period[108]. - The company has not engaged in any related party transactions during the reporting period[109]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties[102]. - The company has not encountered any major contracts or leasing issues during the reporting period[117]. - The company has not engaged in entrusted wealth management during the reporting period[146]. - The company has no significant contracts related to daily operations during the reporting period[147]. Social Responsibility - The company has actively participated in poverty alleviation efforts, donating 100,000 CNY to support local projects[98]. - The company has established a leadership group for COVID-19 prevention and developed a remote intelligent diagnosis system to support operations during the pandemic[97].

Financial Performance - The company reported a total revenue of 1,403,721,079 CNY for the year 2020, with a cash dividend distribution of 1 CNY per 10 shares to all shareholders[7]. - The company's operating revenue for 2020 was approximately ¥4.12 billion, representing a 22.15% increase compared to ¥3.38 billion in 2019[6]. - The net profit attributable to shareholders for 2020 was approximately ¥210 million, a decrease of 44.72% from ¥380 million in 2019[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥168 million, down 55.23% from ¥376 million in 2019[6]. - The net cash flow from operating activities for 2020 was approximately ¥328 million, a significant decline of 75.63% compared to ¥1.35 billion in 2019[6]. - The total assets at the end of 2020 were approximately ¥10.96 billion, an increase of 10.42% from ¥9.93 billion at the end of 2019[6]. - The net assets attributable to shareholders at the end of 2020 were approximately ¥4.67 billion, a decrease of 4.62% from ¥4.90 billion at the end of 2019[6]. - The company reported a significant drop in basic and diluted earnings per share to ¥0.1942, down 44.72% from ¥0.3513 in 2019[6]. - The weighted average return on net assets decreased to 4.53% in 2020, down 3.43% from 7.96% in 2019[6]. Business Operations and Strategy - The company has not changed its main business since its listing, maintaining its focus on environmental technology[24]. - The company plans to further expand its business in energy conservation, hazardous waste, resource utilization, and smart environment sectors[39]. - The company achieved significant growth in the environmental protection industry, driven by stringent environmental policies and technological innovation[42]. - The company is actively participating in the "Green Belt and Road" initiative, aiming to enhance its global environmental governance business through project expansion and strategic partnerships[46]. - The company is committed to achieving the "dual carbon" strategy goals, exploring carbon emission reduction technologies and enhancing its service offerings in the environmental sector[49]. - The company aims to enhance its market expansion and technological innovation capabilities, positioning itself for high-quality development in the environmental protection industry[66]. - The company plans to continue focusing on traditional coal-fired flue gas governance while expanding into carbon capture technology and energy-saving solutions[106]. Research and Development - The company has authorized a total of 219 patents, including 35 invention patents and 7 PCT patents, as of the end of the reporting period[58]. - The company has filed 48 patent applications in 2020, including 18 invention patents and 30 utility model patents[58]. - The company has a robust R&D team, including postdoctoral researchers and professors, to support its technological innovation efforts[56]. - Research and development expenses increased by 72.59% to approximately 125.30 million RMB, reflecting the company's commitment to innovation[103]. - The total R&D investment for 2020 was approximately 160.24 million RMB, a 21.90% increase from 2019[107]. - The R&D personnel count increased to 220, representing 11.87% of the total workforce, indicating a slight increase in R&D focus[107]. Market Expansion and International Presence - The company has expanded its international market presence, securing multiple project collaborations in countries like India, Brazil, and Turkey, despite challenges posed by the pandemic[46]. - The company is focusing on expanding its overseas market presence, particularly in India and Southeast Asia, with a contract worth approximately 427 million RMB signed during the pandemic[75]. - The company has actively expanded its international market presence while leveraging its strong brand and operational advantages[55]. Investments and Projects - The company invested approximately ¥5 billion in a new hazardous waste disposal project in Ya'an, Sichuan, and approximately ¥4.5 billion in another project in Dazhou, Sichuan[39]. - The hazardous waste business has expanded significantly, with total investments in projects amounting to approximately CNY 9.5 billion, including CNY 5 billion for the Ya'an project and CNY 4.5 billion for the Dazhou project[79]. - The company acquired a waste heat utilization project for 805.8 million RMB, enhancing its investment and merger experience[64]. - The company signed new market contracts worth 2.044 billion RMB in 2020, expanding its market share in both the power and non-power sectors[75]. Corporate Governance and Management - The company has implemented a performance assessment system and employee training to enhance overall management efficiency[55]. - The company has established a modern organizational structure to optimize strategic planning and resource integration[55]. - The company has a structured approach to managing investment and acquisition risks, including regular feasibility assessments and internal control management[146]. - The company has committed to enhancing its management capabilities to adapt to the diverse and expanding nature of its business operations[145]. Awards and Recognition - The company has received multiple industry awards, including being named one of the "Top 50 Environmental Enterprises in China" in 2020[59]. - In 2020, the company was awarded the first prize in the Electric Power Technology Innovation Award for its "Ultra-low Emission Technology Research and Engineering Application for Large Coal-fired Power Units" project[58]. - The company has been recognized as a leading entity in the environmental protection industry, with its founder receiving accolades for influence in the field[59]. Financial Management and Cash Flow - Operating cash inflow for 2020 was CNY 2,811,294,382.83, a decrease of 24.41% compared to 2019[108]. - Net cash flow from operating activities was CNY 328,015,372.54, down 75.63% year-on-year[112]. - Financing cash inflow reached CNY 2,625,287,500.00, up 47.67% from 2019[112]. - Net cash flow from financing activities was CNY 346,825,633.93, a 125.90% increase compared to the previous year[113]. - Cash and cash equivalents decreased by CNY 36,031,556.38, a significant increase of 2,516.78% in net decrease compared to 2019[112]. Shareholder Information - The company distributed a cash dividend of 1.00 RMB per 10 shares, totaling 140,372,107.90 RMB, which represents 66.84% of the total distributable profit[158]. - The total number of shares for the dividend distribution is 1,403,721,079 shares, with a remaining undistributed profit of 2,248,051,804.91 RMB to be carried forward to future years[158]. - The cash dividend for 2019 was RMB 162,190,815.00, which accounted for 42.69% of the net profit attributable to ordinary shareholders[155].

Financial Performance - The company's operating revenue for Q1 2021 was ¥723,465,864.68, representing an increase of 11.87% compared to ¥646,705,990.82 in the same period last year[8] - The net profit attributable to shareholders of the listed company was ¥78,569,407.13, up 15.19% from ¥68,209,847.55 year-on-year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥77,893,297.26, reflecting a 14.61% increase from ¥67,962,058.98 in the previous year[8] - The basic earnings per share for the reporting period was ¥0.0727, an increase of 15.21% compared to ¥0.0631 in the same period last year[8] - The diluted earnings per share also stood at ¥0.0727, reflecting a 15.21% increase year-on-year[8] - The total comprehensive income for the current period was CNY 85,807,536.18, up from CNY 71,449,197.62, showing strong overall performance[60] Cash Flow - The net cash flow from operating activities surged by 406.38% to ¥122,005,037.43, compared to ¥24,093,496.29 in the same period last year[8] - Cash inflow from operating activities totaled CNY 836,085,033.81, up from CNY 587,875,771.44, representing an increase of about 42.3%[72] - Cash received from sales of goods and services was CNY 614,405,651.00, compared to CNY 506,669,744.22 in the prior period, indicating a growth of approximately 21.3%[68] - The net cash flow from financing activities was CNY 1,459,529,190.43, a significant rise from CNY 523,947,186.84 in the prior year, indicating an increase of approximately 178.5%[74] Assets and Liabilities - The total assets at the end of the reporting period reached ¥12,379,540,539.92, marking a 12.94% increase from ¥10,960,870,318.00 at the end of the previous year[8] - The total liabilities decreased to ¥5,519,248,201.32 from ¥5,387,100,718.81, indicating a reduction of about 2.45%[49] - Long-term borrowings increased by 38.65%, indicating new long-term financing activities[19] - The company's total liabilities and equity reached ¥12,379,540,539.92, compared to ¥10,960,870,318.00, an increase of approximately 12.1%[43] Investment and Expenses - Research and development expenses surged by 1357.03%, reflecting the company's increased investment in innovation[19] - Financial expenses rose to CNY 42,972,831.04 from CNY 28,351,947.91, primarily due to increased interest expenses[57] - The investment income for the current period was CNY 5,456,770.21, a significant increase from CNY 1,612,551.11 in the previous period[61] Other Income and Gains - The company reported non-recurring gains and losses totaling ¥676,109.87 for the reporting period[8] - The company reported a significant increase in other income, which rose by 341.34% due to training subsidies received[19] - The company reported a significant increase in other income to CNY 15,285,786.06 from CNY 9,731,124.28, contributing to overall revenue growth[57] Compliance and Standards - The company has no reported violations regarding external guarantees during the reporting period[26] - The first quarter report for Beijing Qingxin Environment Technology Co., Ltd. is unaudited[81] - The company has implemented the new leasing standards starting from 2021, affecting prior comparative data[81]

Financial Performance - Operating revenue decreased by 3.35% to CNY 708,305,510.06 for the reporting period, and decreased by 19.68% to CNY 1,916,325,597.81 year-to-date[7] - Net profit attributable to shareholders decreased by 56.74% to CNY 45,122,115.20 for the reporting period, and decreased by 43.96% to CNY 180,774,580.79 year-to-date[7] - Basic earnings per share decreased by 56.74% to CNY 0.0417 for the reporting period, and decreased by 43.95% year-to-date[7] - The company reported a decrease of 59.39% in net profit after deducting non-recurring gains and losses to CNY 42,161,188.98 for the reporting period[7] - Net profit decreased by 43.22% impacted by the pandemic[21] - The company reported a net profit of ¥2,638,256,186.12, up from ¥2,619,672,420.32, indicating a slight increase of about 0.7%[46] - Net profit for the current period is CNY 41,625,343.31, down from CNY 104,393,883.62 in the previous period[61] - Net profit for the current period is ¥87,171,118.80, an increase of 36.2% compared to ¥63,999,056.28 in the previous period[72] - The company reported a comprehensive income total of CNY 32,794,824.76, down from CNY 104,456,415.08 in the previous period[64] - Comprehensive income total for the current period is ¥175,029,189.28, compared to ¥323,810,829.65 in the previous period, reflecting a significant decrease[79] Assets and Liabilities - Total assets increased by 4.62% to CNY 10,385,202,352.82 compared to the end of the previous year[7] - The total assets of the company reached approximately CNY 9.93 billion, with current assets totaling around CNY 5.16 billion[111] - The company’s total liabilities rose to ¥5,273,363,735.80 from ¥4,827,705,017.57, representing an increase of approximately 9.2%[46] - Total liabilities increased to CNY 4,978,343,488.25 from CNY 4,521,762,516.64[53] - The company has a long-term loan of approximately CNY 562.81 million, indicating reliance on debt financing[108] - The company has total non-current liabilities of approximately CNY 886.54 million, contributing to a total liabilities figure of CNY 4.83 billion[108] - Current liabilities decreased to ¥3,423,277,996.80 from ¥3,941,166,072.95, reflecting a reduction of approximately 13.1%[43] - The company has short-term borrowings of approximately 485.8 million[114] - The company has long-term borrowings of approximately 448.4 million[114] Cash Flow - Net cash flow from operating activities decreased by 72.98% to CNY 86,782,657.60 for the reporting period, and decreased by 77.48% year-to-date[7] - Operating cash flow decreased by 77.48% due to a lower recovery of historical debts compared to the previous year[21] - Cash flow from operating activities was ¥226,261,819.19, significantly lower than ¥1,004,758,492.57 in the previous period, representing an 77.53% decrease[89] - Cash inflow from operating activities totaled ¥2,245,342,321.10, down 15.7% from ¥2,663,291,471.12 in the previous period[95] - The company received green corporate bond fundraising during the reporting period, leading to a 105.30% increase in financing cash flow[21] - Total cash inflow from financing activities reached ¥1,702,037,500.00, up 146.5% from ¥691,002,502.26 in the prior period[98] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 63,917[11] - The largest shareholder, Sichuan Development Environment Investment Group Co., Ltd., holds 25.31% of the shares[11] - The company plans to issue non-public shares, pending approval from the China Securities Regulatory Commission[22] Inventory and Receivables - Accounts receivable decreased by 56.99% due to the maturity and release of pledged notes[21] - Inventory decreased by 57.92% as a result of reclassification under new revenue standards[21] - The company reported a significant decrease in inventory, with a reduction of approximately CNY 846.59 million compared to the previous period[111] - Accounts receivable decreased to ¥1,861,529,314.87 from ¥2,338,030,748.69, a decline of about 20.4%[47] Research and Development - Development expenses rose by 155.56% as core equipment R&D investments increased during the reporting period[21] - Research and development expenses rose to CNY 12,590,649.59 from CNY 10,450,287.42[58] - Research and development expenses for the current period are ¥24,895,704.18, slightly down from ¥25,519,804.85 in the previous period[72] - Research and development expenses increased slightly to ¥21,339,190.31 from ¥20,813,484.56, reflecting a 2.52% increase[83] Other Income and Expenses - Other income decreased by 39.06% due to delays in subsidy applications caused by the pandemic[21] - Other income decreased to CNY 10,109,463.93 from CNY 18,473,749.90[58] - Financial expenses increased to CNY 44,216,731.08 from CNY 39,668,478.09, with interest expenses slightly decreasing[58] - Tax expenses for the current period are ¥1,675,392.11, down from ¥3,286,448.13 in the previous period, a decrease of 49.1%[72] - Financial expenses for the current period are ¥109,130,582.10, a decrease from ¥113,356,208.43 in the previous period[74] Capital and Equity - The total equity attributable to shareholders increased to ¥4,906,103,166.35 from ¥4,896,277,670.28, reflecting a growth of approximately 0.2%[46] - The company's equity attributable to shareholders was approximately CNY 4.90 billion, with retained earnings of CNY 2.62 billion[108] - Owner's equity totaled approximately 4.89 billion, with retained earnings of about 2.63 billion[118] - The company reported a capital reserve of approximately 842.5 million[118]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,208,020,087.75, a decrease of 26.93% compared to CNY 1,653,161,205.60 in the same period last year[22]. - Net profit attributable to shareholders was CNY 135,652,465.59, down 37.85% from CNY 218,256,135.69 year-on-year[22]. - The net cash flow from operating activities was CNY 139,479,161.59, a significant decline of 79.60% compared to CNY 683,633,301.30 in the previous year[22]. - Basic earnings per share decreased to CNY 0.1255, down 37.84% from CNY 0.2019 in the same period last year[22]. - The net profit after deducting non-recurring gains and losses was CNY 135,517,813.44, a decrease of 37.56% from CNY 217,025,137.75 year-on-year[22]. - The weighted average return on net assets was 2.73%, down from 4.58% in the previous year, a decrease of 1.85%[22]. - The company's operating revenue for the reporting period was approximately ¥1.21 billion, a decrease of 26.93% compared to ¥1.65 billion in the same period last year[67]. - The net cash flow from operating activities decreased by 79.60% to approximately ¥139.48 million, down from ¥683.63 million in the previous year due to slower recovery of historical receivables[67]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 10,360,647,831.14, an increase of 4.37% from CNY 9,926,635,026.60 at the end of the previous year[22]. - The net assets attributable to shareholders were CNY 4,869,766,956.29, a slight decrease of 0.54% from CNY 4,896,277,670.28 at the end of the previous year[22]. - As of June 2020, cash and cash equivalents amounted to ¥681,118,280.26, representing 6.57% of total assets, an increase of 2.65% compared to the previous year[72]. - Accounts receivable totaled ¥2,109,608,975.67, accounting for 20.36% of total assets, a decrease of 6.33% from the previous year due to better cash collection and slower project progress[75]. - Inventory was reported at ¥406,809,385.08, making up 3.93% of total assets, down 9.57% year-on-year as part of the inventory was reclassified to contract assets and liabilities[75]. - Fixed assets reached ¥3,580,403,879.43, which is 34.56% of total assets, reflecting an increase of 2.27% compared to the previous year[75]. - Long-term borrowings decreased to ¥618,242,664.72, representing 5.97% of total assets, down 3.06% from the previous year[75]. - The debt-to-asset ratio stands at 50.98%, reflecting a 2.35% increase from the previous year[189]. Business Operations and Strategy - The company operates in four main business segments: Operations Division, Engineering Division, Resource Utilization Division, and Energy Saving Division, focusing on industrial environmental governance and energy conservation[31]. - The company is actively expanding its international presence, having secured multiple project collaborations in countries such as India, Brazil, and Turkey, as part of its participation in the "Belt and Road" initiative[37]. - The company aims to leverage its technological innovations to enhance profitability and expand its market share in the energy-saving and environmental sectors[36]. - The company is focused on risk management in its international operations, employing strategies to mitigate potential challenges in foreign markets[37]. - The company has made significant strides in wastewater treatment and solid waste disposal, aligning with national efforts to improve environmental standards[38]. - The company is implementing innovative management practices to reduce costs and improve efficiency amid the pandemic[101]. Research and Development - Research and development investment increased by 29.53% to approximately ¥66.57 million, compared to ¥51.39 million in the previous year[67]. - As of June 2020, the company had authorized a total of 145 patents, including 26 invention patents and 113 utility model patents[62]. - The company has developed a comprehensive innovation system covering the entire lifecycle of industrialization, ensuring a strong technical foundation for innovation[43]. - The company has established a post-doctoral workstation and a research institute to attract top talent in the environmental protection field[42]. Financial Instruments and Investments - The company successfully issued green corporate bonds worth 800 million yuan with a coupon rate of 3.79% during the reporting period[58]. - The total amount of raised funds was ¥79,500,000, with ¥55,345.53 invested during the reporting period[87]. - The company issued green corporate bonds with a total balance of 80,000 million at an interest rate of 3.79%, maturing on March 13, 2025[179]. - The company strictly adhered to the use of raised funds as per the bond prospectus, with a remaining balance of 24,154.47 million[184]. Shareholder Information - The largest shareholder, Sichuan Development Environmental Investment Group Co., Ltd., holds 273,670,000 shares, representing 25.31% of total shares[157]. - Beijing Century Dihe Holdings Co., Ltd. holds 216,201,570 shares, accounting for 20.00% of total shares[157]. - The total number of common shareholders at the end of the reporting period was 68,099[157]. - The company experienced a decrease of 594,033 shares in restricted shares, resulting in a total of 2,116,862 restricted shares post-adjustment[149]. Corporate Governance - The company held two temporary shareholder meetings and one annual meeting during the reporting period, with participation rates of 49.79% and 50.65% respectively[104]. - The half-year financial report has not been audited[107]. - The company reported no related party transactions during the reporting period[114]. - There were no significant non-raised fund investment projects during the reporting period[95]. Environmental and Regulatory Compliance - The company does not have any major environmental protection issues and is not listed as a key pollutant discharge unit by environmental authorities[140]. - There were no violations regarding external guarantees during the reporting period[137]. - The company has not initiated any targeted poverty alleviation work during the reporting year and has no subsequent plans[141].

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].