Financial Performance - The company's operating revenue for the first quarter of 2017 was ¥672,467,292.43, representing a 115.64% increase compared to ¥311,849,910.48 in the same period last year[8] - Net profit attributable to shareholders was ¥95,129,107.01, an increase of 11.60% from ¥85,242,901.54 year-on-year[8] - Basic earnings per share rose to ¥0.09, up 11.59% from ¥0.08 in the same period last year[8] - The net profit attributable to shareholders for the first half of 2017 is expected to increase by 10% to 30%, ranging from CNY 29,569.47 million to CNY 34,945.74 million, compared to CNY 26,881.33 million in the first half of 2016[29] - The company attributes the performance increase to new operational and construction businesses contributing to revenue growth[29] - Net profit for the quarter was ¥101,475,696.65, up from ¥88,356,639.07 year-over-year, reflecting a growth of approximately 14.5%[44] Cash Flow - The net cash flow from operating activities surged to ¥16,907,819.16, a remarkable increase of 989.34% compared to ¥1,552,117.34 in the previous year[8] - The net cash flow from operating activities was CNY 2,344,276.07, a significant improvement compared to a net outflow of CNY 10,524,586.14 in the same period last year[56] - Cash flow from operating activities showed a positive trend, indicating potential operational improvements[56] - The company reported cash outflows from investing activities totaling CNY 828,309,951.72, compared to CNY 196,345,219.27 in the previous year, reflecting increased investment efforts[52] - Cash flow from financing activities resulted in a net outflow of CNY 243,829,606.22, contrasting with a net inflow of CNY 241,305,512.72 in the same period last year[53] Assets and Liabilities - Total assets at the end of the reporting period were ¥10,993,713,113.64, a decrease of 1.98% from ¥11,216,201,113.01 at the end of the previous year[8] - Current assets totaled CNY 5,023.31 million, down from CNY 5,410.97 million at the start of the period[35] - Total liabilities as of March 31, 2017, were CNY 6,881.16 million, down from CNY 7,209.58 million at the beginning of the period[37] - The company's equity attributable to shareholders increased to CNY 3,726.94 million from CNY 3,626.85 million[38] Expenses - Operating costs rose by 134%, primarily driven by revenue growth and rising prices of raw materials and labor[17] - The company’s financial expenses skyrocketed by 5137%, mainly due to increased interest expenses from higher financing amounts[17] - The company’s management expenses rose by 88%, driven by increased employee compensation and expanded business scale[17] - The total operating expenses increased to CNY 74,505,001.85, up from CNY 43,805,000.08 year-over-year, indicating higher operational costs[48] Shareholder Information - The total number of common shareholders at the end of the reporting period was 69,883[12] - The largest shareholder, Beijing Century Dihe Holdings Co., Ltd., held 45.03% of the shares, amounting to 483,226,200 shares[13] Investments - The company completed the cash acquisition of 80% of Beijing Bohuitong Technology Development Co., Ltd. for RMB 128 million[18] - The company reported an investment loss of CNY 239,844.31, compared to a loss of CNY 2,160,954.83 in the previous year, showing improved performance in this area[48] - The company received CNY 208,730,000.00 from investment recoveries during the quarter[56] - The company incurred CNY 400,000,000.00 in cash payments for investments during the quarter[56] Compliance and Governance - The company did not have any significant changes in accounting policies or restatements of previous years' financial data[8] - The company has maintained compliance with all commitments made during the reporting period[28] - There were no instances of non-operating fund occupation by controlling shareholders or related parties during the reporting period[31] - The company did not conduct an audit for the first quarter report[58] Market Engagement - The company is actively engaging with investors, as evidenced by a site visit on January 10, 2017[32]

Financial Performance - Total assets at the end of the reporting period reached ¥9,762,533,506.02, an increase of 49.24% compared to the previous year[6] - Net assets attributable to shareholders of the listed company amounted to ¥3,297,932,764.09, reflecting a growth of 14.05% year-on-year[6] - Operating revenue for the reporting period was ¥901,444,813.18, representing a 55.78% increase compared to the same period last year[6] - Net profit attributable to shareholders of the listed company was ¥229,245,759.61, up 55.18% year-on-year[6] - Basic earnings per share for the reporting period were ¥0.2151, a 55.08% increase compared to the same period last year[6] - The weighted average return on equity was 7.08%, an increase of 1.32% compared to the previous year[6] - The company reported a net cash flow from operating activities of ¥50,055,685.93, which is a 20.39% increase year-to-date[6] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 76,914[10] - Beijing Century Dihe Holdings Co., Ltd. held 45.05% of the shares, with 361,480,000 shares pledged[10] - The company did not engage in any repurchase transactions during the reporting period[11] Asset and Liability Changes - Cash and cash equivalents decreased by 32.83% due to increased payments for construction contracts and asset acquisitions[14] - Accounts receivable increased by 44.82% primarily due to higher revenue from construction contracts[14] - Prepayments surged by 103.79% driven by growth in construction contracts and increased advance payments for projects and equipment[14] - Inventory rose by 109.33% as a result of increased construction contract activities and completed but unsettled assets at the end of the period[14] - Fixed assets increased by 86.71% mainly due to the acquisition of environmental assets from China Aluminum by the subsidiary[14] - Development expenditures grew by 62.73% as the company increased its R&D investments[14] - Short-term borrowings surged by 135.96% due to increased funding needs for construction projects[14] - Accounts payable increased by 219.23% primarily due to the acquisition of environmental assets, with some payments not yet due[14] Other Income and Cash Flow - Other income rose by 445.47% due to new tax incentives related to industrial waste gas treatment[14] - Net cash flow from financing activities increased by 393.83% due to new investments and loans for asset purchases and working capital[14] Capital Structure and Financing - The company plans to issue green bonds not exceeding RMB 11.5 billion to optimize its capital structure and meet funding needs[29] - The National Development and Reform Commission approved the issuance of green bonds up to RMB 10.9 billion, with funds allocated for various projects including RMB 3.3 billion for heat recovery projects and RMB 5.4 billion for working capital[30] Project Contracts and Plans - The company signed a contract for a BOT project with Henan Shenhua Power Co., with a 20-year contract term and a revenue rate of RMB 0.0169 per kWh for a total expected output of 800 billion kWh[31] - The company announced the termination of the plan to issue shares for asset acquisition on October 12, 2016, after multiple progress updates throughout the year[26] - The company held an investor briefing on October 17, 2016, regarding the termination of the asset acquisition plan[27] - The company received approval for its green bond issuance on October 14, 2016, and subsequently published the bond offering prospectus on October 21, 2016[30] - The company has been actively updating the market on the progress of its asset acquisition plans, with multiple announcements made from January to October 2016[24][25][33] Incentive Plans and Governance - The stock options incentive plan was introduced to enhance the governance structure and align the interests of shareholders and management[22] - The company held its first extraordinary general meeting of 2016 on March 31, where it approved the continuation of the asset acquisition plan[25] Future Profit Expectations - The estimated net profit attributable to shareholders for 2016 is expected to range from 65,951.30 to 81,170.83 million CNY, representing a growth of 30% to 60% compared to 50,731.77 million CNY in 2015[36] - The increase in operating business and the significant rise in ongoing EPC projects are the main reasons for the expected performance growth[36] Compliance and Relations - The company has strictly adhered to commitments regarding share transfer limitations for directors and senior management, ensuring no more than 25% of their shares are transferred during their tenure[34] - There are no violations regarding external guarantees during the reporting period, indicating a stable financial position[37] - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[38] - The company has engaged in multiple investor relations activities, including site visits on August 24, August 26, and September 21, 2016, to enhance communication with institutional investors[39]

Financial Performance - The company's operating revenue for the first half of 2016 was CNY 1,086,308,283.42, representing a 13.73% increase compared to CNY 955,203,432.37 in the same period last year[22]. - The net profit attributable to shareholders of the listed company reached CNY 268,813,349.59, marking a 29.54% increase from CNY 207,520,876.42 year-on-year[22]. - The net cash flow from operating activities was CNY 26,187,691.06, which is a 23.47% increase compared to CNY 21,209,114.57 in the previous year[22]. - Basic earnings per share increased to CNY 0.25, up 31.58% from CNY 0.19 in the same period last year[22]. - The net profit after deducting non-recurring gains and losses was CNY 267,539,564.62, which is a 28.60% increase compared to CNY 208,044,417.28 in the same period last year[22]. - The company reported a total profit of ¥319,096,516.15, which is a 39.05% increase compared to ¥229,562,340.19 in the same period last year[149]. - The company reported a significant increase in cash flow from financing activities, amounting to RMB 894,747,252.40, a staggering growth of 13,416.62%[40]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 8,999,966,384.68, a 37.58% increase from CNY 6,541,438,262.02 at the end of the previous year[22]. - The company's total liabilities reached CNY 5,513,353,272.07, an increase from CNY 3,513,693,673.40, representing a growth of approximately 56.9%[142]. - Current liabilities rose to CNY 4,716,814,259.44, compared to CNY 2,606,406,333.61, marking an increase of about 80.9%[142]. - Non-current assets totaled CNY 5,690,174,648.78, up from CNY 3,761,011,876.82, reflecting a growth of approximately 51.4%[141]. - The company's total equity attributable to shareholders at the end of the period is CNY 2,603,678,619.34, reflecting a decrease of CNY 532,800,000.00 from the previous year[166]. Investments and Acquisitions - The company is actively pursuing acquisitions, planning to purchase 100% equity of Wan Fang Bo Tong and Bo Hui Tong through a combination of cash and stock issuance[36]. - The company acquired environmental assets from China Aluminum Corporation for a total price of RMB 1,754.36 million, which includes desulfurization, denitrification, and dust removal facilities[78]. - The company has made external investments totaling RMB 484,500,000.00, a substantial increase of 765.18% compared to RMB 56,000,000.00 in the same period last year[53]. Research and Development - The company's research and development investment increased significantly by 120.74%, amounting to ¥29,288,337.98, up from ¥13,268,373.67 in the previous year[39]. - The company has developed over 70 core technology patents and is in the process of applying for nearly 20 additional patents[46]. - The company has introduced new technologies such as the "new generation activated carbon dry method for multi-pollutant removal" and "wet desulfurization and denitrification integration technology" to the market[37]. Operational Highlights - The company successfully launched multiple flue gas desulfurization and denitrification projects, contributing to stable revenue streams from its operations[34]. - The company has several ongoing construction projects, including the Jiangsu Xukang project, which is expected to commence operations within the year[34]. - The company has a total of 125 units under construction or renovation, with a combined capacity of 38,295 MW in the power industry[35]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring effective operation and information disclosure[72]. - The company has not made any adjustments or restatements to previous years' financial data due to changes in accounting policies or corrections of accounting errors[22]. - The company’s financial statements are prepared based on the going concern principle, reflecting a history of profitable operations[183]. Shareholder Information - The total number of shares is 1,065,600,000, with 99.91% being unrestricted shares[121]. - The largest shareholder, Beijing Century Dihe Holdings Co., Ltd., holds 45.35% of the shares, amounting to 483,226,200 shares, which are currently pledged[124]. - The company has reported a significant number of shares under pledge, with 383,200,000 shares pledged by the largest shareholder[124]. Future Outlook - Future outlook includes expansion into new markets and potential mergers and acquisitions to enhance growth[115]. - The company is planning to issue shares for asset acquisition, with ongoing announcements regarding the progress of this plan[113]. - The company is considering issuing green bonds to support sustainable projects and initiatives[114].

Financial Performance - Revenue for the first quarter was CNY 311,849,910.48, a decrease of 19.00% compared to CNY 385,022,945.56 in the same period last year[6] - Net profit attributable to shareholders was CNY 85,242,901.54, an increase of 28.10% from CNY 66,543,850.94 year-on-year[6] - Basic earnings per share increased by 33.33% to CNY 0.08 from CNY 0.06 in the same period last year[6] - The net profit attributable to shareholders for the first half of 2016 is expected to increase by 20% to 50%, ranging from 249.03 million to 311.28 million CNY[22] - The net profit for the first half of 2015 was 207.52 million CNY, indicating a significant growth in performance year-over-year[22] - The growth in performance is attributed to the stable operation of newly added business segments and an increase in EPC projects compared to the same period last year[22] Cash Flow and Assets - Net cash flow from operating activities was CNY 1,552,117.34, down 89.96% from CNY 15,457,417.86 in the previous year[6] - Total assets at the end of the reporting period were CNY 6,732,032,287.38, up 2.91% from CNY 6,541,438,262.02 at the end of the previous year[6] - Operating cash flow decreased by 705% as the company provided short-term funding to ensure project implementation amid tight schedules[13] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 80,351[9] - The largest shareholder, Beijing Century Dihe Holdings Co., Ltd., held 45.35% of the shares, totaling 483,226,200 shares, with 237,230,000 shares pledged[9] Income and Expenses - The company reported non-recurring gains and losses totaling CNY 477,891.78 for the reporting period[7] - Investment income decreased by 148% due to unrealized gains from equity investments, compared to realized gains from subsidiary sales in the previous year[13] - Non-operating income surged by 86,415% primarily due to new tax incentives related to industrial waste gas treatment[13] - Income tax expenses increased by 136% due to profit growth and projects entering a reduced tax period[13] - Operating tax and additional charges rose by 95% due to the growth in construction contract revenue[13] - Sales expenses increased by 46% as the company continued to intensify market development efforts[13] Strategic Developments - There were no significant changes in the company's strategy or new product developments mentioned in the report[12] - The company is currently in a trading suspension due to planning for a major asset acquisition through share issuance[14] - The company plans to issue 2.96 million reserved stock options under its 2014 stock option incentive plan, pending the resumption of trading[15] Liabilities - Other receivables increased by 40% mainly due to the increase in bid guarantee deposits[13] - Accounts payable decreased by 46% primarily due to the maturity and acceptance of accounts payable[13] Return on Investment - The weighted average return on net assets was 2.91%, an increase of 0.20% compared to the previous year[6]

Financial Performance - The company's operating revenue for 2015 was ¥2,267,800,223.15, representing a 77.62% increase compared to ¥1,276,794,616.19 in 2014[16] - The net profit attributable to shareholders for 2015 was ¥507,317,725.00, an increase of 87.49% from ¥270,577,581.68 in 2014[16] - The basic earnings per share for 2015 was ¥0.48, a 92.00% increase from ¥0.25 in 2014[16] - The weighted average return on equity for 2015 was 19.52%, up from 11.63% in 2014, indicating improved profitability[16] - The company reported a diluted earnings per share of ¥0.48 for 2015, consistent with the basic earnings per share[17] - The total profit reached CNY 58,663,930, an increase of 94.65% compared to the previous year[52] - Net profit attributable to shareholders was CNY 50,731,770, marking an 87.49% increase year-on-year[53] - The company's total revenue for the reporting period was approximately CNY 2.27 billion, representing a year-on-year increase of 38.99%[60] - The atmospheric governance business generated revenue of approximately CNY 2.25 billion, with a year-on-year growth of 39.43%[60] Cash Flow and Assets - The net cash flow from operating activities decreased by 53.60% to ¥94,229,981.82 from ¥203,103,398.32 in 2014[16] - Total assets at the end of 2015 were ¥6,541,438,262.02, a 35.97% increase from ¥4,810,816,285.50 at the end of 2014[16] - The net cash flow from investment activities was -¥544,691,703.96, an improvement of 19.10% from -¥673,317,680.52 in 2014[75] - The company's cash and cash equivalents decreased by 99.19%, resulting in a net decrease of ¥2,112,130.18[75] - Accounts receivable increased significantly to ¥1,070,198,000.42, accounting for 16.36% of total assets, up from 9.23% in 2014[78] - The company's inventory rose to ¥558,827,585.64, representing 8.54% of total assets, an increase from 3.01% in 2014[78] Market Expansion and Strategy - The company is actively expanding its market presence in non-electric sectors such as petrochemicals and steel, focusing on research and development of flue gas treatment technologies[29] - The company has established new subsidiaries in Yancheng, Shandong, and Shanxi to expand its environmental market presence[50] - The company plans to expand its market share in the power sector while also entering non-electric fields such as petrochemicals, steel, and cement, establishing benchmark projects to create new profit growth points[109] - The company intends to expand its ultra-low emission market space by leveraging its SPC-3D technology and gradually applying new technologies to non-electric sectors[113] - The company is in the preparatory phase for new projects in Shandong and Shanxi provinces, indicating ongoing market expansion efforts[102] Research and Development - In 2015, the company's R&D investment amounted to ¥66,597,775.62, representing a 79.81% increase from ¥37,037,143.01 in 2014[72] - The number of R&D personnel increased to 259, up 2.78% from 252 in 2014, but the proportion of R&D personnel to total staff decreased to 16.00% from 42.00%[72] - The company has developed over 70 core technology patents and is currently applying for nearly 10 additional patents, showcasing its strong innovation capabilities in environmental protection technologies[35] - The company is committed to continuous investment in technology innovation, establishing a vertical management model for R&D, and enhancing collaboration with research institutions[111] Environmental Commitment - The company has developed advanced technologies for flue gas treatment, including high-efficiency desulfurization and integrated desulfurization and dust removal technology, which have been successfully applied in industrial flue gas governance[29] - The company is focusing on the development of advanced desulfurization technologies, as seen in the 1×660MW capacity enhancement project for Guohua Power[48] - The company aims to achieve a breakthrough in international business while maintaining rapid internal growth through strategic acquisitions and resource integration[114] - The company emphasized its commitment to sustainable practices, aiming to reduce carbon emissions by 30% over the next five years through innovative technologies[176] Shareholder and Dividend Information - The company plans to distribute cash dividends at a rate of RMB 1 per 10 shares for the year 2015, with a total cash dividend amounting to RMB 106,560,000[130] - The company achieved a cash dividend of RMB 106,560,000 for the year 2015, representing 20.81% of the net profit attributable to ordinary shareholders[128] - The company has maintained a consistent cash dividend policy, with cash dividends of RMB 106,560,000 in both 2014 and 2015, reflecting a stable return to investors[129] - The company reported a significant increase in undistributed profits, reaching RMB 885,623,154.08 by the end of 2015[128] Management and Governance - The company has a robust management team with extensive experience, ensuring competitive advantages in flue gas desulfurization and denitrification operations[39] - The company is addressing management risks associated with rapid business expansion and increasing employee numbers through enhanced training and internal controls[117] - The company has established a transparent and stable profit distribution mechanism to protect the interests of minority shareholders[124] - The company has implemented a stock option incentive plan, granting a total of 13.52 million stock options to 86 eligible participants, accounting for 2.54% of the total share capital[144] Contracts and Projects - The company has successfully undertaken a variety of "turnkey" projects, providing comprehensive solutions for flue gas treatment, including design, construction, and operational support[38] - The company has secured multiple new construction and renovation projects, significantly increasing its market share in the flue gas treatment sector[46] - The company signed a significant contract for a BOT project with Shanxi Ping Shuo Coal Gangue Power Co., with an operational service fee of CNY 0.0152 per kWh[61] - The company announced a successful bid for a BOT project involving two 600MW units, focusing on ultra-low emissions renovation[170] Financial Management - The company has reported a net interest income of RMB 49,255,404.00 from the raised funds[87] - The company has committed to using the raised funds for specific projects, with a total of RMB 50,805.52 million (30.97%) allocated for changes in use[87] - The company has established a fundraising account specifically for the Tokto Power Plant project, which is now closed with a total balance of 0[87] - The company has not reported any significant non-equity investments during the reporting period[86]

Financial Performance - Total assets at the end of the reporting period reached ¥5,566,644,019.40, an increase of 15.71% compared to the previous year[6] - Net assets attributable to shareholders of the listed company amounted to ¥2,710,733,890.11, reflecting an 11.95% increase year-on-year[6] - Operating revenue for the reporting period was ¥578,683,307.80, representing a growth of 69.47% compared to the same period last year[6] - Net profit attributable to shareholders of the listed company was ¥147,727,127.32, a significant increase of 92.69% year-on-year[6] - Basic earnings per share for the reporting period was ¥0.14, marking a 100% increase compared to the same period last year[6] - The weighted average return on equity was 5.76%, up from 2.42% in the previous year[6] - The estimated net profit attributable to shareholders for 2015 is expected to increase by 70% to 100%, ranging from CNY 459.98 million to CNY 541.16 million[29] - The net profit for 2014 attributable to shareholders was CNY 270.58 million[29] - The growth in 2015 is attributed to the stable operation of desulfurization and denitrification projects, with the Shizhu project contributing to new growth[29] - The number of EPC projects under construction has significantly increased compared to the previous year, leading to substantial profit growth from these projects[29] - The company is expected to maintain a positive net profit for 2015, indicating a stable financial outlook[29] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 78,256[10] - The largest shareholder, Beijing Century Dihe Holdings Co., Ltd., held 45.35% of the shares, totaling 483,226,200 shares[10] - The company’s controlling shareholder, Century Dihe, increased its stake by acquiring 1,500,000 shares, while other directors and senior management purchased 657,700 shares[23] - The company’s major shareholder has committed to not selling more than 5% of the total shares through the securities trading system within six months from October 10, 2014[28] - The major shareholder plans to increase their stake by no more than 1% of the total issued shares within three months from July 6, 2015[28] - Company directors and senior management have committed to a minimum increase of CNY 10 million in company shares within one month from July 8, 2015[28] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date was ¥41,578,405.05, a decrease of 64.87% compared to the previous year[6] - Cash and cash equivalents decreased by 44% due to increased equity investments and growth in construction contract projects[14] - The company’s operating cash flow decreased by 65% due to increased short-term funding for construction projects[14] - The company’s short-term borrowings increased by 147% due to a surge in construction projects and funding needs[14] - The company did not engage in any repurchase transactions during the reporting period[11] - The company has not engaged in any securities investments during the reporting period[30] - The company did not hold shares in other listed companies during the reporting period[31] Operational Highlights - Accounts receivable increased by 104% primarily due to higher revenue from construction contract projects[14] - Revenue grew by 69% as the company actively expanded its construction business and received market recognition for its SPC-3D desulfurization and dust removal integrated technology[14] - Operating costs increased by 62% in line with revenue growth[14] - The company established a special industrial fund with a total scale of RMB 253 million, contributing RMB 100 million, accounting for 39.53% of the total[15] - The company completed the first grant of 13.52 million stock options under the 2014 stock option incentive plan, with an exercise price of RMB 21.81 per share[17] - The company sold 55% of its stake in the subsidiary Zhongtian Runbo for RMB 66.7857 million, with the total assessed value of the stake being RMB 115.6904 million[20] Strategic Initiatives - The company established a wholly-owned subsidiary, Yancheng Guodian Qingxin Environmental Technology Co., Ltd., with a registered capital of RMB 100 million, focusing on air and water pollution control[24] - A new subsidiary, Chongqing Qingyuan Mining Co., Ltd., was set up with a registered capital of RMB 3 million, specializing in the sale of limestone and its products[24] - The company invested RMB 5 million to establish Shanxi Qingxin Environmental Technology Co., Ltd., which will engage in various pollution control services and equipment sales[25] - The company approved the establishment of Chongqing Smart Environmental Big Data Co., Ltd. with a total investment of RMB 50 million, in which the company holds a 15% stake[25] - The company’s investment in the environmental big data joint venture was completed with the registration and licensing process finalized in September 2015[25] - The company’s board approved the establishment of a special industrial fund to support environmental initiatives[26] - The company’s stock option incentive plan for 2014 was approved and completed, with adjustments made to the stock option quantity and exercise price due to a rights distribution plan[27] - The company is expanding its market presence through strategic investments in subsidiaries and joint ventures focused on environmental technology and services[25]

Financial Performance - The company's operating revenue for the first half of 2015 was CNY 955,203,432.37, representing a 68.48% increase compared to CNY 566,948,939.25 in the same period last year[20]. - The net profit attributable to shareholders for the same period was CNY 207,520,876.42, up 55.81% from CNY 133,188,796.45 year-on-year[20]. - The net profit after deducting non-recurring gains and losses was CNY 208,044,417.28, reflecting a 56.25% increase compared to CNY 133,148,036.03 in the previous year[20]. - Basic earnings per share for the period were CNY 0.19, a 58.33% increase from CNY 0.12 in the previous year[20]. - Total profit reached CNY 229.56 million, reflecting a growth of 55.48% compared to the previous year[34]. - The company achieved operating revenue of CNY 955.20 million, a year-on-year increase of 68.48%[34]. - The net profit attributable to shareholders was CNY 207.52 million, up 55.81% year-on-year[34]. - The company reported a significant increase in operating costs to CNY 621.05 million, a rise of 67.00% year-on-year[38]. - The gross profit margin for the environmental protection industry was 34.98%, showing a slight increase of 0.73% from the previous year[41]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,189,294,302.97, a 7.87% increase from CNY 4,810,816,285.50 at the end of the previous year[20]. - The net assets attributable to shareholders increased by 5.41% to CNY 2,552,324,838.62 from CNY 2,421,344,051.00 at the end of the previous year[20]. - Total liabilities increased to CNY 2,501,312,843.30 from CNY 2,207,137,666.16, which is an increase of approximately 13.29%[137]. - The company's equity attributable to shareholders rose to CNY 2,552,324,838.62 from CNY 2,421,344,051.00, showing an increase of about 5.43%[138]. - Current assets rose to CNY 1,794,753,421.99, up from CNY 1,537,312,395.87, indicating an increase of about 16.73%[136]. - Total equity at the end of the current period is CNY 2,534,004,938.59, an increase from CNY 2,407,980,580.31 at the end of the previous period, representing an increase of approximately 5.26%[167]. Cash Flow - The net cash flow from operating activities decreased by 72.31% to CNY 21,209,114.57, down from CNY 76,591,217.31 in the same period last year[20]. - Cash inflow from operating activities totaled CNY 461,188,430.40, an increase from CNY 410,018,788.48 in the previous period[150]. - The net increase in cash and cash equivalents was CNY -284,370,692.89, compared to CNY -123,497,249.18 in the prior period[152]. - Cash received from sales of goods and services was CNY 429,687,969.86, up from CNY 376,271,280.93 in the previous period[154]. - The ending balance of cash and cash equivalents was CNY 163,583,380.49, down from CNY 583,987,409.64 in the previous period[152]. Investments and Projects - The company has successfully secured multiple construction projects in the flue gas desulfurization and denitrification sector, contributing to a solid foundation for future revenue growth[30]. - The company has undertaken a BOT project for ultra-low emission transformation at Shanxi Pingzhu Coal Gangue Power Co., Ltd., involving two 300MW units[30]. - The company has been awarded several EPC contracts for flue gas treatment projects, including a significant project for Shenhua Guohua Mengjin Power Co., Ltd. involving two 600MW units[30]. - The company established new subsidiaries in Yancheng, Shandong, and Shanxi to expand its environmental market presence[32]. - The company has added four new subsidiaries, including Shanxi Qingxin Environmental Technology Co., Ltd., expanding its operational scope[173]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[6]. - The company implemented a cash dividend of RMB 2 per 10 shares, totaling RMB 106.56 million, and a capital reserve conversion of 10 shares for every 10 shares held[70]. - The total number of common shareholders at the end of the reporting period is 82,500[123]. - The controlling shareholder, Century Dihe, committed to not selling more than 5% of the company's total shares through the securities trading system within six months starting from October 10, 2014[104]. - The company has no related party transactions for joint external investments during the reporting period[92]. Financial Management and Strategy - The company continues to leverage its technological and brand advantages to enhance its market position amid both opportunities and challenges in the industry[30]. - The company is focused on expanding its market presence through strategic project acquisitions and technological advancements in environmental protection solutions[30]. - The company has engaged in discussions with various financial institutions regarding its development strategy and market environment[73]. - The company’s financial strategy appears to focus on balancing shareholder returns with reinvestment into the business, as indicated by the equity changes and profit distribution[161]. Accounting and Compliance - The company has not identified any discrepancies between the financial reports prepared under domestic and overseas accounting standards for the reporting period[24]. - The semi-annual financial report has not been audited[106]. - The accounting policies are in accordance with the Ministry of Finance's enterprise accounting standards, ensuring the accuracy of financial reporting[178]. - The group recognizes identifiable assets and liabilities of acquired subsidiaries at fair value on the acquisition date for business combinations under common control[185].

Financial Performance - The company's operating revenue for the first quarter of 2015 was CNY 385,022,945.56, representing a 100.49% increase compared to CNY 192,036,858.28 in the same period last year[5]. - The net profit attributable to shareholders of the listed company was CNY 66,543,850.94, an increase of 31.80% from CNY 50,488,559.49 year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 66,535,509.08, reflecting a 31.90% increase compared to CNY 50,442,090.99 in the previous year[5]. - The basic earnings per share increased to CNY 0.12, up 33.33% from CNY 0.09 in the same period last year[5]. - Main business profit for the reporting period was 117.58 million yuan, a growth of 53.42% year-on-year, driven by significant increases in EPC project revenue and the operation of the Shizhu desulfurization and denitrification BOT project[16]. - The company reported an expected net profit attributable to shareholders for the first half of 2015 to be between 199.78 million RMB and 226.42 million RMB, representing a year-on-year increase of 50% to 70%[33]. - The increase in net profit is attributed to the stable operation of new desulfurization projects and the commissioning of additional denitrification projects, contributing to growth in the first half of 2015[33]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 5,130,196,454.02, a 6.64% increase from CNY 4,810,816,285.50 at the end of the previous year[5]. - The net assets attributable to shareholders of the listed company were CNY 2,502,937,096.38, which is a 3.37% increase from CNY 2,421,344,051.00 at the end of the previous year[5]. - Total liabilities at the end of the reporting period were 1.96 billion yuan, with long-term payables reported at 196 million yuan, primarily related to the sale and leaseback of desulfurization and denitrification assets[13]. Cash Flow - The net cash flow from operating activities was CNY 15,457,417.86, a decrease of 11.14% compared to CNY 17,394,863.61 in the same period last year[5]. - Cash flow from operating activities for the reporting period was a net inflow of 15.46 million yuan, a decrease of 1.94 million yuan compared to the same period last year, mainly due to increased procurement and employee compensation[18]. - The company’s cash flow from financing activities was a net inflow of 213.99 million yuan, an increase of 24.01 million yuan year-on-year, mainly due to new financing lease loans[18]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 38,467[8]. - The largest shareholder, Beijing Century Dihe Holdings Co., Ltd., held 45.21% of the shares, totaling 240,863,100 shares[8]. Investments and Subsidiaries - The company established a wholly-owned subsidiary, Yancheng Guodian Qingxin Environmental Technology Co., Ltd., with a registered capital of 100 million RMB, focusing on air and water pollution control, solid waste management, and energy conservation[27]. - The company has invested in a wholly-owned subsidiary, Chongqing Qingyuan Mining Co., Ltd., with a registered capital of 3 million RMB, focusing on the sale of limestone and its products[27]. - The company holds a 60% stake in Shandong Qingxin Environmental Technology Co., Ltd., which was established with a registered capital of 30 million RMB, focusing on environmental engineering technology and equipment sales[27]. Expenses - The company’s inventory at the end of the reporting period was 207.62 million yuan, an increase of 43.19% year-on-year, attributed to ongoing EPC projects that have not yet met revenue recognition criteria[12]. - The company’s financial expenses for the reporting period were 53.62 million yuan, an increase of 626.67% year-on-year, mainly due to increased borrowing costs[17]. - The company’s management expenses for the reporting period were 32.25 million yuan, an increase of 108.72% year-on-year, primarily due to stock incentive costs[17]. Strategic Adjustments - The company completed the sale of 55% equity in Zhongtian Runbo for 66.79 million yuan, impacting minority interests by a reduction of 59.33 million yuan[15][23]. - The company sold its stake in the controlling subsidiary, Zhongtian Runbo, as part of its strategic adjustments[29]. - The company completed the first grant of its 2014 stock option incentive plan, which was approved by the China Securities Regulatory Commission[29]. - The company plans to establish a special industrial fund to support its business initiatives[29]. - The company established a special industrial fund with a total scale of 253 million yuan, contributing 100 million yuan, accounting for 39.53% of the total[22]. Project Development - Accounts receivable at the end of the reporting period was 592.53 million yuan, an increase of 33.26% compared to the end of the previous year, primarily due to increased revenue from desulfurization and denitrification projects[12]. - The company has seen an increase in EPC projects compared to the same period last year, contributing to profit growth[33]. - The company does not hold any securities investments or shares in other listed companies during the reporting period[34][35].

Financial Performance - The company's operating revenue for 2014 was CNY 1,276,794,616.19, representing a 66.90% increase compared to CNY 765,021,644.55 in 2013[18]. - The net profit attributable to shareholders for 2014 was CNY 270,577,581.68, a 50.30% increase from CNY 180,022,616.96 in the previous year[18]. - The net cash flow from operating activities reached CNY 203,103,398.32, showing a significant increase of 316.21% compared to CNY 48,797,824.09 in 2013[18]. - The basic earnings per share for 2014 was CNY 0.51, up 50.00% from CNY 0.34 in 2013[18]. - Total assets at the end of 2014 amounted to CNY 4,810,816,285.50, reflecting a 29.70% increase from CNY 3,709,201,645.25 at the end of 2013[18]. - The net assets attributable to shareholders increased by 8.55% to CNY 2,421,344,051.00 from CNY 2,230,576,673.73 in 2013[18]. - The weighted average return on equity for 2014 was 11.63%, an increase of 3.33% from 8.30% in 2013[18]. - The total operating costs amounted to ¥842,811,453.35, reflecting a year-on-year increase of 72.61%[56]. - The company reported a gross profit margin of 33.99% for the environmental protection industry, a decrease of 2.19% from the previous year[56]. Investment and Acquisitions - The company has made strategic acquisitions, including the Zhejiang Wushashan Power Plant project, which began contributing profits in August 2014[28]. - The company established a wholly-owned subsidiary in Poland to expand its international market presence and promote its proprietary technology[29]. - The company has successfully completed the ultra-low emissions acceptance for the Yungang Power Plant, marking it as the first project of its kind in Shanxi Province[31]. - The company has invested CNY 188.02 million in total for various projects, with CNY 160.57 million utilized by the end of the reporting period[77]. - The company has utilized CNY 385.08 million of the raised funds for the acquisition of desulfurization facilities at Inner Mongolia Datang International Hohhot Thermal Power Co., Ltd., achieving 100% completion[78]. Research and Development - The company is focusing on technology innovation and has increased its investment in research and development to enhance its competitive edge in the market[30]. - The company increased its R&D investment to CNY 37,037,143.01, a rise of 79.70% from the previous year[36]. - Research and development expenditures totaled ¥48,461,594.03, with a notable increase in internal development costs for wet desulfurization and dry desulfurization technologies[53]. - The company has developed over 50 patents, including advanced technologies for flue gas desulfurization and denitrification, contributing to its leading position in the air pollution control sector[64]. Dividend Policy - The company plans to distribute a cash dividend of CNY 2 per 10 shares, along with a capital reserve transfer of 10 shares for every 10 shares held[5]. - The total cash dividend for 2014 was CNY 106,560,000, representing 39.38% of the net profit attributable to shareholders, which was CNY 270,577,581.68[128]. - The company has a profit distribution policy that mandates a 10% allocation of after-tax profits to statutory reserves, with the remaining profits distributed to shareholders based on their shareholding ratios[107]. - The company maintained a cash dividend distribution policy of at least 10% of the annual distributable profits when profitable and retained earnings are positive[110]. Corporate Governance - The company has a robust management team with extensive operational experience, enhancing its competitive advantage in flue gas treatment operations[65]. - The company’s board of directors is required to consider various factors, including industry characteristics and major capital expenditures, when proposing cash dividend policies[111]. - The company’s independent directors play a crucial role in reviewing and providing opinions on the cash dividend policy and its adjustments[121]. - The company’s governance structure includes a mix of independent and executive directors, ensuring a balance of power and oversight[200]. Risk Management - The company recognizes management risks associated with rapid business growth and plans to strengthen internal management and training to adapt to changing environments[97]. - The company is addressing potential investment risks by conducting thorough feasibility studies and regularly reviewing project viability[97]. - The company is increasing efforts to manage accounts receivable, implementing measures to improve collection rates and reduce outstanding receivables[98]. Market Expansion - The company is actively pursuing international competition through its Polish subsidiary and aims to expand its overseas business[93]. - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share within the next two years[174]. - The company aims to reduce chemical oxygen demand and ammonia nitrogen emissions by approximately 2%, and sulfur dioxide and nitrogen oxides emissions by around 3% and 5% respectively[90]. Audit and Compliance - The company has received a standard unqualified audit report from Xinyong Zhonghe Accounting Firm[4]. - The audit firm engaged is Shinewing Certified Public Accountants, with a remuneration of 900,000 RMB for the reporting period[162]. - No non-standard audit report issued for the reporting period[164]. - The company has complied with all commitments made by shareholders and has no violations of external guarantees[161].

Financial Performance - Operating revenue for the period reached CNY 341,458,810.23, a 47.62% increase year-on-year, with year-to-date revenue of CNY 908,407,749.48, up 74.26%[5] - Net profit attributable to shareholders was CNY 76,667,004.73, reflecting a 49.22% increase compared to the same period last year, with a year-to-date net profit of CNY 209,855,801.18, up 56.30%[5] - Basic earnings per share rose by 40.00% to CNY 0.14 for the period, with a year-to-date figure of CNY 0.39, an increase of 56.00%[5] - The weighted average return on equity improved to 3.34% for the period, compared to 0.96% in the previous year[5] - The estimated net profit attributable to shareholders for 2014 is projected to be between ¥252.03 million and ¥288.04 million, representing a year-on-year increase of 40% to 60%[23] - The net profit for 2013 attributable to shareholders was ¥180.02 million[23] - The increase in profit is attributed to the acquisition of desulfurization concession projects and the revenue generated from BOT projects that commenced operations during the reporting period[23] Assets and Liabilities - Total assets increased by 21.62% to CNY 4,444,529,894.87 compared to the end of the previous year[5] - Cash and cash equivalents decreased by 55.17% due to the use of part of the raised funds to acquire desulfurization assets for the Wushashan project[14] - Accounts receivable increased by 71.93% as a result of the growth in franchise and EPC projects[14] - Accounts payable increased by 137.82% due to new EPC projects and payments for equipment procurement and construction[14] - The company’s estimated liabilities surged by 370.15% as new projects entered the warranty period, necessitating increased provisions[14] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 54,498[9] - The largest shareholder, Beijing Century Dihe Holdings Co., Ltd., holds 50.15% of the shares, totaling 267,192,000 shares[9] - There were no changes in the company's total share capital due to new share issuance or other reasons during the reporting period[5] Cash Flow and Financing - The company reported a net cash flow from operating activities of CNY 118,355,656.25, an increase of 33.38% year-on-year[5] - Financial expenses surged by 1122.90% due to reduced capitalized interest from BOT projects and increased interest expenses from loans[14] - The company plans to use RMB 253 million of raised funds for permanent working capital and investments in subsidiaries[17] - The company provided a guarantee for a bank financing project of its subsidiary, with a guarantee amount not exceeding RMB 300 million[18] Projects and Agreements - The company signed a municipal heating franchise agreement with the government of Juxian County, Linyi City, covering a 30-year operational period[16] - A special industrial fund named Beijing Qingxin Chenghe Venture Capital Center (Limited Partnership) was established with a total scale of RMB 253 million, with the company contributing RMB 100 million[19]