Financial Performance - The company achieved operating revenue of ¥566,948,939.25, representing a 95.50% increase compared to the same period last year[21]. - Net profit attributable to shareholders reached ¥133,188,796.45, a growth of 60.69% year-on-year[21]. - Basic earnings per share increased to ¥0.25, reflecting a 56.25% rise from the previous year[21]. - Total assets at the end of the reporting period amounted to ¥3,970,395,564.00, an 8.65% increase from the end of the previous year[21]. - The company reported a net profit increase, with retained earnings growing to CNY 517,847,327.95 from CNY 464,578,531.50, a rise of about 11.4%[122]. - The company reported a net profit for the current period of CNY 133,188,796.45, contributing to an increase in retained earnings[135]. - The company expects a net profit increase of 50% to 70% for the first nine months of 2014, projecting a net profit range of CNY 201.40 million to CNY 228.25 million[65]. Cash Flow and Investments - The company reported a net cash flow from operating activities of ¥76,591,217.31, a decrease of 20.22% compared to the previous year[21]. - Cash flow from financing activities increased significantly by 364.31% to ¥88,482,580.19, due to new bank loans for investment projects[37]. - The company reported a net loss from investment activities of CNY -123,060,846.57, an improvement from CNY -271,529,877.53 in the previous period[134]. - The company has temporarily supplemented working capital with excess raised funds of CNY 8,000 million and CNY 10,000 million in previous years, all of which have been returned to the dedicated fundraising account[55]. Operational Developments - The company successfully launched several new projects, including the Chongqing Shizhu Power Plant desulfurization and denitrification projects, contributing to future revenue growth[31]. - The establishment of a wholly-owned subsidiary in Poland aims to expand international market presence and promote proprietary technology[31]. - The company continues to focus on expanding its EPC construction business while maintaining stable revenue from desulfurization and denitrification projects[35]. - The acquisition of assets related to the Zhejiang Wushashan Power Plant desulfurization project is part of the company's strategy for market expansion[31]. Shareholder Information - The company distributed a cash dividend of CNY 1.50 per 10 shares, totaling CNY 79.92 million for the 2013 fiscal year[66]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[68]. - The total number of shareholders at the end of the reporting period was 58,468[106]. - The largest shareholder, Beijing Century Dihe Holdings Co., Ltd., held 50.15% of the shares, totaling 267,192,000 shares, with no changes during the reporting period[106]. Governance and Compliance - The financial report is guaranteed to be true, accurate, and complete by the responsible personnel, including the head of the company and the accounting supervisor[6]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring effective operation and investor protection[72]. - There were no major litigation or arbitration matters reported during the period[73]. - The company has not reported any significant changes in project feasibility or major deviations from expected benefits[53]. Accounting Policies and Financial Reporting - The company’s financial statements comply with the requirements of the enterprise accounting standards, ensuring a true and complete reflection of its financial status[155]. - The company did not report any changes in accounting policies or prior period error corrections during the current period[140]. - The company’s accounting period runs from January 1 to December 31 each year, with the reporting currency being RMB[156]. - The consolidated financial statements include all subsidiaries under actual control and eliminate significant internal transactions[160]. Asset Management - Total liabilities increased to CNY 1,547,312,712.17 from CNY 1,287,876,738.60, reflecting a rise of about 20.2%[122]. - The company’s total equity attributable to shareholders increased to CNY 2,423,082,851.83, up from CNY 2,366,431,969.44 at the end of the previous year[137]. - The company has committed a total investment of CNY 74,709.23 million for the flue gas desulfurization project, achieving a 100% investment progress as of the reporting period[53]. - The company has established six subsidiaries and has acquired controlling stakes in two technology companies to enhance its operational capabilities[152].

Financial Performance - Revenue for the first quarter reached ¥192,036,858.28, an increase of 60.59% compared to ¥119,583,706.08 in the same period last year[5] - Net profit attributable to shareholders was ¥50,488,559.49, up 65.87% from ¥30,437,986.39 year-on-year[5] - Net profit after deducting non-recurring gains and losses was ¥50,442,090.99, reflecting a 68.66% increase from ¥29,908,360.60 in the previous year[5] - The company's main business profit for the reporting period was ¥55,772,100, an increase of 68.57% compared to the same period last year[12] - The weighted average return on net assets was 2.24%, up from 1.41% in the previous year[5] - The expected net profit attributable to shareholders for the first half of 2014 is projected to be between 124.33 million yuan and 140.91 million yuan, representing a year-on-year increase of 50% to 70%[21] - The increase in net profit is attributed to stable operations of new desulfurization projects and increased profits from EPC projects compared to the previous year[21] Cash Flow - Operating cash flow net amount decreased by 70.98% to ¥17,394,863.61 from ¥59,943,033.32 in the same period last year[5] - The net cash flow from operating activities for the first quarter of 2014 was 17.39 million yuan, a decrease of 70.98% compared to the same period last year, primarily due to increased procurement from EPC construction and franchise operations, along with rising employee compensation[15] - The net cash flow from investing activities for the first quarter of 2014 was -82.56 million yuan, an increase of 38.34% year-on-year, mainly due to reduced investment in BOT projects as previous projects were in their initial stages[15] - The net cash flow from financing activities for the first quarter of 2014 was 164.98 million yuan, an increase of 1523.62% compared to the same period last year, primarily due to new borrowings from the subsidiary in Chifeng[15] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,908,828,446.85, a 6.96% increase from ¥3,654,308,708.04 at the end of the previous year[5] - The company's expected liabilities increased by 80.79% to ¥7,988,000 due to new completed projects and corresponding warranty deposits[11] Shareholder Information - The number of shareholders at the end of the reporting period was 61,224[7] Business Developments - The company signed a BOT contract with Chongqing Datang International Shizhu Power Generation Co., Ltd. in January 2014, which includes investment, design, construction, operation, and maintenance of desulfurization facilities, with revenue from desulfurization services[16] - In January 2014, the company established a wholly-owned subsidiary in Poland to expand its international market presence, which is now operating normally[16] - The company terminated its bond issuance plan in February 2014 due to high comprehensive financing costs resulting from changes in market interest rates and supply-demand conditions[17] Taxation - The company reported a 58.48% increase in business tax and additional fees to ¥1,342,900, driven by revenue growth[13]

Financial Performance - The company's operating revenue for 2013 was CNY 765,021,644.55, representing a 99.60% increase compared to CNY 383,268,758.53 in 2012[21] - The net profit attributable to shareholders for 2013 was CNY 180,022,616.96, a 72.23% increase from CNY 104,524,351.87 in the previous year[21] - Basic earnings per share for 2013 were CNY 0.34, up 70.00% from CNY 0.20 in 2012[21] - The total profit for 2013 was 198.70 million yuan, representing a 73.94% growth year-over-year[32] - The company reported a total investment of 5,000,000.00 in Hebei Zhaoxiang Investment Co., with a loss of 259,105.91 during the reporting period[75] - The company achieved a net profit of ¥177,300,420.50, with a distributable profit of ¥159,570,378.45 after deducting 10% for statutory surplus reserves[116] - The cash dividend for 2013 was set at ¥1.5 per 10 shares, totaling ¥79,920,000, which represents 44.39% of the net profit attributable to shareholders[118] Assets and Liabilities - Total assets at the end of 2013 were CNY 3,654,308,708.04, a 33.52% increase from CNY 2,736,806,229.34 at the end of 2012[21] - The net assets attributable to shareholders increased by 5.73% to CNY 2,230,576,673.73 from CNY 2,109,754,056.77 in 2012[21] - As of the end of 2013, cash and cash equivalents decreased by 19.29% to ¥728,925,491.23, accounting for 19.95% of total assets, down from 39.24% in 2012[54] - Accounts receivable increased by 2.02% to ¥265,544,526.63, representing 7.27% of total assets, compared to 5.25% in the previous year[54] - Fixed assets rose to ¥1,201,272,717.70, making up 32.87% of total assets, a decrease of 5.9% from 2012[54] - Short-term borrowings increased significantly by 12.16% to ¥444,639,358.70, which is 12.17% of total assets[57] - Long-term borrowings decreased slightly by 0.49% to ¥369,375,000.00, representing 10.11% of total assets[57] Cash Flow - The net cash flow from operating activities decreased by 79.86% to CNY 48,797,824.09 from CNY 242,290,515.58 in 2012[21] - The operating cash inflow for 2013 was ¥678,655,452.22, representing a 21.03% increase compared to 2012[49] - The investment activities cash outflow was ¥734,607,771.56, a decrease of 43.89% compared to the previous year[49] Dividends and Shareholder Relations - The company plans to distribute a cash dividend of CNY 1.5 per 10 shares to all shareholders based on a total share capital of 53,280,000 shares as of December 31, 2013[6] - The company's cash dividend policy stipulates that at least 30% of the average distributable profit over the last three years must be distributed in cash, with a minimum of 10% of the current year's profit if conditions are met[99] - The board must communicate with shareholders, especially minority shareholders, before finalizing cash dividend proposals[106] - The company must complete the distribution of dividends within two months after the shareholders' meeting decision[108] Business Operations and Strategy - The company completed the acquisition of Chifeng Boyuan Technology Co., focusing on deep processing of industrial by-products and resource utilization projects[31] - The company successfully launched several BOT projects, including Shanxi YunGang Power Plant and Inner Mongolia Hohhot Power Plant, contributing to stable operational performance[31] - The company made advancements in technology development, achieving multiple patents and innovations, including the development of the swirling coupling wet desulfurization technology[32] - The company aims to reduce particulate matter concentration in cities by over 10% by 2017, with specific targets for regions like Beijing, where the annual average concentration is to be controlled at around 60 micrograms per cubic meter[81] - The company plans to enhance its technology research and development, focusing on deep purification of desulfurization and denitrification processes, and developing multi-pollutant control technologies[87] - The company is committed to utilizing capital market financing to support both organic growth and external expansion, seeking quality projects for sustainable development[91] Market and Competition - The company anticipates a compound annual growth rate of approximately 30% in the environmental protection industry during the 12th Five-Year Plan period, with total investment exceeding 5 trillion yuan[85] - The company faces risks from intensified market competition due to potential new entrants, prompting a focus on technology upgrades and management efficiency[92] - Rising operational costs are anticipated due to mandatory upgrades for pollution control equipment, impacting profitability[92] Research and Development - The total R&D expenses accounted for 2.69% of the operating income, amounting to ¥15,309,592.79[48] - Research and development expenses increased by 12% in 2013, reflecting the company's commitment to innovation[162] - The company is investing 100 million RMB in research and development for new environmental technologies over the next two years[199] Corporate Governance - The audit report for the financial statements was issued by Xinyong Zhonghe Accounting Firm, confirming the accuracy and completeness of the financial report[5] - The independent directors have expressed their agreement with the revised profit distribution policy, emphasizing the protection of minority shareholders' interests[112] - The company has implemented measures to enhance investor relations, including regular communication through various channels to ensure transparency[123] Acquisitions and Investments - The company acquired 51% of Boyuan Technology for RMB 76.5 million, which is now a consolidated subsidiary[137] - The company also acquired 90% of Hebei Zhaoxiang for RMB 4.5 million, which is a subsidiary of Qingxin Energy[137] - The company temporarily used CNY 10,000 million of excess raised funds to supplement working capital, which was fully returned by January 15, 2014[70] Future Outlook - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2014[162] - Future guidance estimates a revenue growth of 20% for the full year 2013, projecting total revenue to reach 5 billion RMB[162] - The company has set a future outlook with a revenue target of 1.8 billion RMB for the next fiscal year, indicating a projected growth of 20%[199]