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].

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] - The diluted earnings per share rose by 21.30% to ¥0.1065 compared to ¥0.0878 in the previous year[8] - The net profit attributable to shareholders for the first half of 2018 is expected to range from 34,727.62 to 41,041.73 million CNY, representing a year-on-year increase of 10.00% to 30.00% compared to 31,570.56 million CNY in the first half of 2017[31][32] - The increase in net profit is attributed to the production commencement of the Boyuan Technology coarse powder project, tar hydrogenation, and several new special franchise projects[32] Cash Flow and Assets - The net cash flow from operating activities was negative at -¥84,967,139.46, a decline of 602.53% from ¥16,907,819.16 in the same period last year[8] - 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] - Net assets attributable to shareholders increased by 2.74% to ¥4,349,166,663.83 from ¥4,233,276,515.63 at the end of the previous year[8] - Cash and cash equivalents decreased by 65.99% due to the payment of due short-term financing[15] Operating Costs and Revenue Drivers - Operating revenue rose by 50.77%, attributed to increased income and costs compared to the same period last year[15] - Operating costs increased by 57.51% due to the production commencement of the technical powder project and the tar hydrogenation project[15] Investments and Expansion 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. at a total investment of RMB 59,040,360[17] Employee Stock Ownership Plans - The 2016 employee stock ownership plan involved the purchase of 22,861,306 shares at an average price of RMB 17.44 per share[19] - The 2017 employee stock ownership plan acquired 14,332,790 shares at an average price of approximately RMB 20.87 per share[20] Management and Shareholder Confidence - Company executives plan to increase their shareholding in the company within three months, reflecting confidence in the company's stable development[25] - The company completed the stock purchase plan by some directors, supervisors, and senior management personnel, ensuring compliance with the commitment to not reduce their holdings within six months after the purchase[30] Compliance and Investor Relations - The company has no violations regarding external guarantees during the reporting period[33] - There are no non-operating fund occupations by controlling shareholders or their related parties during the reporting period[34] - The company has been actively engaging with investors, conducting communication activities on January 31 and March 9, 2018[35]

Financial Performance - Revenue for the reporting period reached CNY 1,584,151,678.81, a 75.73% increase year-on-year[6] - Net profit attributable to shareholders rose by 31.67% to CNY 301,843,754.45 for the reporting period[6] - The net profit after deducting non-recurring gains and losses increased by 31.68% to CNY 294,997,852.17[6] - Basic earnings per share increased by 30.78% to CNY 0.2813[6] - The estimated net profit attributable to shareholders for 2017 is projected to be between RMB 855.83 million and RMB 1,079.09 million, representing a year-on-year increase of 15% to 45%[25] - The net profit for 2016 attributable to shareholders was RMB 744.20 million[25] Assets and Liabilities - Total assets increased by 5.52% to CNY 11,835,851,327.79 compared to the end of the previous year[6] - The company's cash and cash equivalents decreased by 76% as part of the green bond financing was invested in project construction[14] - Accounts receivable rose by 46%, primarily due to business growth and an increase in accepted bills[14] - Inventory increased by 60%, driven by business growth and higher procurement of goods[14] - The company's short-term borrowings decreased by 42% as it repaid maturing short-term loans[14] Shareholder Information - The total number of shareholders at the end of the reporting period was 77,426[10] - The largest shareholder, Beijing Century Dihe Holdings Co., Ltd., holds 44.82% of the shares, with 363,940,700 shares pledged[10] - The company has not conducted any repurchase transactions among its top shareholders during the reporting period[14] Government and Financial Support - The company received government subsidies amounting to CNY 12,697,966.71 during the reporting period[7] - Financial expenses surged by 425% due to increased interest expenses from higher financing amounts in the previous year[14] Operational Developments - The company's operating revenue increased by 58% due to a steady increase in the number of construction and operation projects during the reporting period[14] - The company reported a 68% increase in operating costs, attributed to revenue growth and rising prices of raw materials and labor[14] Employee Stock Ownership Plan - The company plans to implement a 2017 employee stock ownership plan, which is currently in progress[16] - As of September 30, 2017, 65 out of 76 participants in the stock option incentive plan exercised their options, resulting in an increase of 4,924,690 shares[19] - The company has implemented an employee stock ownership plan in 2017, with progress updates disclosed[21] Subsidiary Developments - The company established a wholly-owned subsidiary in Hong Kong with an investment of up to HKD 10 million, completed registration on July 25, 2017[20] - A wholly-owned subsidiary in India is planned with an investment of up to RMB 3 million, registration is still pending as of the report date[20] Compliance and Governance - There are no violations regarding external guarantees during the reporting period[26] - There are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[27] - The company conducted investor relations activities on July 3 and September 5, 2017, with records available on the official website[28] Return on Equity - The weighted average return on equity was 7.34%, a slight increase of 0.18% compared to the previous year[6] Cash Flow - The net cash flow from operating activities decreased by 24.23% to CNY 37,929,135.77[6]

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 1,549,445,188.15, representing a 42.63% increase compared to CNY 1,086,308,283.42 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2017 was CNY 315,705,629.02, an increase of 17.44% from CNY 268,813,349.59 in the previous year[17]. - Basic earnings per share for the first half of 2017 were CNY 0.29, up 16.00% from CNY 0.25 in the previous year[17]. - The total operating revenue for the reporting period reached CNY 1,549,445,188.15, representing a year-on-year increase of 42.63% compared to CNY 1,086,308,283.42 in the same period last year[44]. - The net profit for the first half of 2017 was CNY 323,561,500.32, compared to CNY 277,939,101.34 in the same period last year, representing an increase of approximately 16.4%[156]. - The total comprehensive income of CNY 323,499,358.65, compared to CNY 278,044,465.57 in the previous year, indicating overall financial improvement[157]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 86.06%, reaching CNY 48,724,535.31 compared to CNY 26,187,691.06 in the same period last year[17]. - The company's cash and cash equivalents net increase was -¥963,135,322.03, a significant decrease of 2,574.95% compared to a net increase of ¥38,915,337.75 in the previous year[43]. - The company's cash and cash equivalents at the end of the period were CNY 241,379,440.83, down from CNY 484,757,280.95 at the end of the previous period[164]. - The total cash inflow from financing activities was 950,144,755.70 CNY, while the cash outflow was 1,164,188,277.28 CNY, resulting in a net cash flow of -214,043,521.58 CNY[167]. - The company incurred financial expenses of CNY 26,624,074.64, compared to a financial income of CNY 1,631,898.76 in the previous year, indicating a shift in financial performance[159]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 11,277,799,974.78, a slight increase of 0.55% from CNY 11,216,201,113.01 at the end of the previous year[17]. - The company's total assets increased to CNY 9,335,153,957.16 from CNY 9,001,701,547.48 year-over-year, showing growth in asset base[153]. - Total liabilities decreased from CNY 7,209,578,383.01 to CNY 7,037,335,300.79, a reduction of about 2.4%[148]. - The company's equity increased to CNY 3,938,935,864.57 from CNY 3,695,691,865.80, reflecting a growth in shareholder value[153]. - The asset-liability ratio improved to 62.40%, down from 64.28% year-on-year, indicating a decrease of 1.88%[138]. Investments and Acquisitions - The company completed the acquisition of 80% of Bohuitong for ¥12.8 million, enhancing its market position[39]. - The company acquired 80% equity of Beijing Bohuitong Technology Development Co., Ltd. for ¥12,800 million, enhancing its capabilities in flue gas treatment and waste gas governance[52]. - The company has ongoing development expenditures amounting to CNY 147,697,276.62, reflecting investment in new technologies[147]. - The company is focusing on expanding its business in industrial pollution control, particularly in coal-fired power plants, with a strong emphasis on ultra-low emissions technology[24]. Research and Development - Research and development investment rose by 59.61% to approximately ¥46.75 million, reflecting the company's commitment to future market expansion[42]. - The company has developed various innovative environmental technologies, including SPC-3D technology, which offers cost-effective solutions for ultra-low emissions in large coal-fired power plants[30]. - The company is actively pursuing technological innovations, including the development of new multi-pollutant removal technologies and zero water replenishment techniques[40]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[6]. - The total number of ordinary shareholders at the end of the reporting period is 91,295[118]. - The largest shareholder, Beijing Century Dihe Holdings Co., Ltd., holds 45.03% of the shares, totaling 483,226,200 shares, with 264,080,000 shares pledged[118]. - The company has a total of 1,073,196,600 shares after the exercise of stock options by 80 incentive objects, totaling 7,596,600 options exercised[115]. Risks and Management - The company is facing risks from rapid industry changes and market competition, with a focus on tracking industry trends and expanding into new competitive areas to maintain profitability[62]. - Management risks are increasing due to business growth and diversification, prompting the company to enhance management capabilities and internal controls[63]. - The company is addressing cash management risks associated with rising accounts receivable by tightening collection processes and expanding financing channels[64]. Compliance and Governance - The company has not made any adjustments or restatements to previous years' accounting data[17]. - The company has no significant litigation or arbitration matters during the reporting period[77]. - The company has not experienced any penalties or rectification issues during the reporting period[79]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial reports are true and complete[191].

Financial Performance - The company's operating revenue for 2016 was CNY 3,393,990,299.80, representing a 49.66% increase compared to CNY 2,267,800,223.15 in 2015[19] - Net profit attributable to shareholders reached CNY 744,201,395.60, a 46.69% increase from CNY 507,317,725.00 in the previous year[19] - The basic earnings per share increased to CNY 0.70, up 47.75% from CNY 0.47 in 2015[19] - Total assets at the end of 2016 amounted to CNY 11,216,201,113.01, a 71.46% increase from CNY 6,541,438,262.02 in 2015[19] - The company's net assets attributable to shareholders grew by 25.42% to CNY 3,626,849,717.57 from CNY 2,891,736,261.16 in 2015[19] - The total profit reached CNY 890.97 million, reflecting a growth of 51.88% compared to the previous year[48] - Net profit attributable to shareholders was CNY 744.20 million, up 46.69% year-on-year[48] - The company's gross profit margin decreased to 37.39% in 2016 from 39.99% in 2015, while the operating cost increased by 53.60% to CNY 2,125,118,016.35[53] Cash Flow and Investments - The net cash flow from operating activities was CNY 84,949,093.56, a decrease of 9.85% compared to CNY 94,229,981.82 in 2015[19] - The company’s cash flow from operating activities showed a positive trend, with a net cash flow of ¥34.89 million in Q4 2016[25] - Operating cash inflow increased by 62.98% to approximately ¥2.24 billion in 2016, while operating cash outflow rose by 68.34% to approximately ¥2.15 billion[66] - Net cash flow from financing activities surged by 586.89% to approximately ¥3.01 billion, driven by new investments and loans[67] - Total investment in 2016 reached approximately ¥534.50 million, a significant increase of 471.42% compared to ¥93.54 million in the previous year[73] Research and Development - R&D investment increased by 76.53% in 2016, totaling approximately ¥117.56 million, compared to ¥66.60 million in 2015[65] - The number of R&D personnel decreased by 14.67% to 221 in 2016, while the proportion of R&D personnel remained stable at 16.07%[65] - The company has submitted multiple patent applications for its R&D projects, enhancing its core competitiveness in the industry[64] - The company has developed several innovative technologies, including zero-water wet desulfurization and integrated flue gas purification technologies[32] Market Expansion and Strategy - The company is focusing on expanding its business into non-electric sectors, including petrochemical and steel industries, to enhance its market presence[32] - The company plans to continue benefiting from government policies promoting low emissions, which are expected to sustain growth in the environmental protection industry[34] - The company aims to leverage its technology and capital advantages to participate in international competition and gradually develop international business connections, particularly through its subsidiary in Poland, in line with the "Belt and Road" initiative[86] - The company plans to expand its market presence in non-electric industries such as petrochemicals, steel, cement, glass, and carbon through technology research and development, engineering applications, market expansion, and asset acquisitions[86] Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 1 per 10 shares, based on a total share capital of 1,073,196,600 shares[9] - The company distributed cash dividends of RMB 107,319,660, representing 14.42% of the net profit attributable to ordinary shareholders in 2016[110] - The cash dividend policy has been consistently implemented, with a minimum of 20% of profits allocated for distribution during the growth phase[110] - The company has maintained a positive profit distribution plan for three consecutive years, with cash dividends of RMB 106,560,000 in 2015 and RMB 106,560,000 in 2014[110] Corporate Governance and Compliance - The audit report for the year was issued by Xinyong Zhonghe Accounting Firm, confirming the accuracy and completeness of the financial statements[9] - The company has adhered to all commitments made regarding profit distribution and shareholder rights protection[112] - The company has engaged in multiple investor relations activities throughout 2016, enhancing communication with institutional investors[101] - The company has a robust decision-making process for profit distribution, ensuring transparency and compliance with regulations[105] Environmental and Social Responsibility - The company is positioned to benefit from the expected 13 trillion yuan investment in air, water, and soil remediation projects driven by stricter environmental regulations[82] - The environmental management strategy is shifting from a single focus on pollutant control to a dual focus on environmental improvement and total pollutant control[80] - The company has not been classified as a key pollutant discharge unit by environmental protection authorities[156] - The company has not published a social responsibility report[156] Stock Options and Employee Incentives - The 2016 employee stock ownership plan acquired 18,126,401 shares at an average price of 17.29 RMB per share, accounting for 1.70% of the total share capital[124] - The company’s stock option incentive plan was confirmed by the China Securities Regulatory Commission, allowing for the first exercise of options by 80 individuals[173] - The total number of stock option incentive recipients was adjusted from 82 to 80, with the first exercisable quantity being 7.5966 million shares[129] Risk Management - The company recognizes the risks associated with rapid industry changes and increased competition, and it plans to actively monitor market trends to mitigate these risks[96] - The company will enhance its internal management and execution capabilities to address the challenges posed by its expanding business and workforce[97]

Financial Performance - The company's operating revenue for 2016 was CNY 3,393,990,299.80, representing a 49.66% increase compared to CNY 2,267,800,223.15 in 2015[18]. - The net profit attributable to shareholders was CNY 744,201,395.60, up 46.69% from CNY 507,317,725.00 in the previous year[18]. - The basic earnings per share increased to CNY 0.70, a 47.75% rise from CNY 0.47 in 2015[18]. - The total assets at the end of 2016 reached CNY 11,216,201,113.01, marking a 71.46% increase from CNY 6,541,438,262.02 in 2015[18]. - The net assets attributable to shareholders at the end of 2016 were CNY 3,626,849,717.57, a 25.42% increase from CNY 2,891,736,261.16 in 2015[18]. - The total profit reached 890,969,400 CNY, growing by 51.88% compared to the previous year[51]. - Net profit attributable to shareholders was 744,201,400 CNY, reflecting a 46.69% increase year-on-year[51]. - The gross profit margin for the environmental protection industry was 37.39%, slightly down by 1.60% from the previous year[56]. Cash Flow and Investments - The company's cash flow from operating activities was CNY 84,949,093.56, a decrease of 9.85% compared to CNY 94,229,981.82 in 2015[18]. - Operating cash inflow rose by 62.98% to ¥2,237,073,294.64, while operating cash outflow increased by 68.34% to ¥2,152,124,201.08[68]. - Net cash flow from operating activities decreased by 9.85% to ¥84,949,093.56, reflecting a significant difference from net profit due to short-term funding for project implementation[69]. - Investment cash inflow dropped by 92.00% to ¥16,153,500.00, while investment cash outflow surged by 215.58% to ¥2,356,371,297.83[68]. - Financing cash inflow increased by 193.53% to ¥4,763,937,131.00, resulting in a net cash flow from financing activities of ¥3,013,615,883.01, up 586.89%[68]. - Total investment for the reporting period reached ¥534,500,000.00, a significant increase of 471.42% compared to the previous year[74]. Business Operations and Strategy - The company has maintained its main business operations without any changes since its listing[17]. - The company is focusing on expanding its business in non-electric sectors, including petrochemical and steel industries, for flue gas treatment technology[31]. - The company is expanding its non-electricity sector pollution control business while continuing to strengthen its core business in the power industry[46]. - The company aims to expand its non-electric industrial flue gas treatment technologies across various sectors, including petrochemicals, steel, cement, and glass, leveraging its leading technology in ultra-low emissions[87]. - The company plans to enhance its international presence by utilizing its Polish subsidiary as a platform for international service and cooperation, aligning with the national "Belt and Road" strategy[87]. Research and Development - R&D investment increased by 76.53% to ¥117,562,298.63 in 2016, accounting for 3.46% of operating revenue[67]. - The company has developed over 80 core technology patents and is applying for nearly 20 additional patents, focusing on various advanced environmental protection technologies[37]. - The company is focusing on developing new technologies in waste management, with an investment of CNY 50 million allocated for R&D in 2016[162]. Environmental Initiatives - The company maintained its leading position in the coal-fired power plant ultra-low emission market, supported by advanced proprietary technologies[33]. - The company expects continued growth in the environmental protection industry due to stricter national air emission standards[33]. - The atmospheric governance business accounted for 96.58% of total revenue, with a year-on-year growth of 45.55%[54]. - The company has signed contracts for multiple pollution control projects, including a 2×300MW BOT project that passed environmental acceptance in January 2017[47]. - The company is actively involved in the construction and operation of environmental pollution control facilities, with a focus on expanding its market presence[80]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 1 per 10 shares, based on a total share capital of 1,073,196,600 shares[8]. - The company distributed cash dividends of RMB 107,319,660, representing 14.42% of the net profit attributable to ordinary shareholders in 2016[111]. - The cash dividend per 10 shares for 2016 was RMB 1, with no capital reserve fund conversion to share capital planned[109]. - The company has maintained a consistent cash dividend policy, with cash dividends amounting to RMB 106,560,000 in 2015, which was 21.00% of the net profit[111]. Corporate Governance and Compliance - The company has actively engaged in investor relations activities, including multiple on-site visits by institutions throughout 2016[102]. - The company strictly adheres to information disclosure obligations, ensuring that all information is true, accurate, complete, timely, and fair[156]. - The company has implemented a robust investor relations management system to protect the rights of all shareholders, especially minority shareholders[157]. - The company has no major litigation or arbitration matters during the reporting period[124]. - The company has no penalties or rectification situations during the reporting period[120]. Market and Competitive Landscape - The company faces risks from rapid industry changes and market competition, necessitating proactive monitoring of industry trends and competitive dynamics[97]. - The company is addressing cash management risks associated with increasing accounts receivable due to explosive growth in EPC engineering business, implementing stricter management of receivables[99]. - The company is committed to strengthening internal control management and integration capabilities to mitigate risks associated with investment and acquisition performance[101]. Employee Engagement and Stock Options - The 2016 employee stock ownership plan acquired 18,126,401 shares at an average price of 17.29 RMB per share, accounting for 1.70% of the total share capital[125]. - The company’s stock option incentive plan was approved by the China Securities Regulatory Commission and was implemented in 2014, allowing for the first exercise period in 2016[176]. - The total number of shares held by the management team at the end of the period was 1,993,900 shares[194]. Future Outlook - The company anticipates a substantial increase in environmental investment due to the government's focus on pollution control and environmental quality improvement during the 13th Five-Year Plan[81]. - The company has plans for future growth, emphasizing innovation and market expansion strategies[198].