Financial Performance - Total revenue for 2020 was RMB 3,315,021,000, a decrease of 4.14% from RMB 3,458,591,000 in 2019[5] - Gross profit for 2020 was RMB 1,131,074,000, with a gross margin of 34.12%, down from 36.08% in 2019[5] - Net profit attributable to shareholders for 2020 was RMB 303,162,000, a decline of 28.5% compared to RMB 423,930,000 in 2019[5] - The company achieved total operating revenue of RMB 331,502.10 million, a decrease of 4.15% compared to the same period last year[14] - The net profit attributable to equity holders of the company was RMB 30,316.20 million, down 28.49% year-on-year[14] - The company's total operating revenue for the year ended December 31, 2020, decreased by 4.15% to approximately RMB 3,315,021,000 compared to RMB 3,458,591,000 in 2019[24] - The revenue from industrial waste treatment decreased by approximately 4.05% to about RMB 1,599,509,000, down from RMB 1,667,032,000 in the previous year[24] - The net profit attributable to equity holders of the parent company for the year ended December 31, 2020, was approximately RMB 303,162,000, a decrease of 28.49% compared to RMB 423,930,000 in 2019, largely due to the adverse impact of the COVID-19 pandemic and changes in the operating environment[25] Assets and Liabilities - Total assets increased to RMB 10,424,154,000 in 2020, up from RMB 10,395,432,000 in 2019[5] - As of December 31, 2020, total assets amounted to RMB 1,042,415.40 million, an increase of 0.28% from the beginning of the period[14] - The group's total liabilities as of December 31, 2020, were approximately RMB 5,050,514,000, a decrease from RMB 5,360,589,000 in 2019, with an asset-liability ratio of 48.45% compared to 51.57% in 2019[30] Operational Capacity and Projects - The company completed the construction of 6 projects and obtained hazardous waste operating permits totaling 192,300 tons/year during the reporting period[8] - The overall hazardous waste treatment capacity exceeded 2 million tons/year, with a utilization rate of approximately 40.53%[8] - The design capacity of ongoing construction projects exceeds 400,000 tons/year[8] - The company processed over 9,000 tons of medical waste during the pandemic, ensuring zero infection among its 4,900 employees[14] - The total hazardous waste treatment capacity exceeds 2 million tons per year, including 750,000 tons for comprehensive utilization and 360,000 tons for incineration[15] - The company has 8 ongoing projects with a combined hazardous waste treatment capacity exceeding 400,000 tons per year[16] Strategic Initiatives - The company is actively pursuing project acquisitions to enhance strategic layout and industry synergy[8] - The company aims to improve operational management standards through technical innovation and cost-saving measures[8] - The company plans to maintain a stable profit distribution plan, proposing a cash dividend of RMB 0.11 per share, subject to shareholder approval[14] - The company aims to enhance management standards and accelerate industrial layout to ensure steady business growth and improve profitability[44] - The company intends to actively explore international markets to increase market share and broaden sales channels[45] Innovation and Development - The company applied for 63 new patents and obtained 81 new authorized patents, with two achievements recognized as internationally leading standards[23] - The company is focusing on technological innovation to enhance its core competitiveness, establishing national and provincial key laboratories to improve innovation efficiency[47] - New product development initiatives are underway, with an investment of 100 million yuan allocated for R&D in sustainable technologies[58] Safety and Compliance - The accident rate decreased by 62.5% year-on-year, with no major safety incidents reported during the reporting period[21] - The company is committed to implementing safety and environmental responsibilities, enhancing risk control, and promoting a culture of safety management[46] - The company has maintained compliance with relevant laws and regulations in its operations, with no significant violations reported as of December 31, 2020[137] Corporate Governance - The board of directors will focus on enhancing corporate governance and maintaining good relationships with shareholders in 2021[140] - The company is committed to improving corporate governance practices and maintaining high levels of transparency in information disclosure[144] - The board consists of both executive and independent non-executive directors, ensuring a balance of power[152] - The company has established a comprehensive internal management system and approval processes applicable across the group[184] Financial Management - Financial costs were reduced by RMB 28.44 million year-on-year through measures such as issuing medium-term notes and replacing high-interest debt[20] - The company has maintained its profit distribution policy, ensuring that cash dividends in the last three years accounted for at least 30% of the average distributable profit[70] - The company’s distributable reserves for dividends were calculated at RMB 1,384,773,000 during the reporting period[94] Market Presence - Jiangsu Huaihong International Group reported a significant increase in revenue, achieving a total of 1.2 billion yuan, representing a 15% year-over-year growth[56] - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in market share by the end of 2024[57] Audit and Reporting - The independent auditor's report confirms that the consolidated financial statements reflect the group's financial position as of December 31, 2020, in accordance with international financial reporting standards[188] - The audit identified key audit matters based on communication with governance, which are crucial for the financial statements[200] - The audit was conducted by Zhongjian Zhonghuan (Hong Kong) CPA Limited[200] - The report was issued on March 29, 2021, for the fiscal year 2020[200] Employee Management - The total employee cost for the year was approximately RMB 594,598,000, a decrease from RMB 626,069,000 in the previous year[104] - The number of full-time employees increased to 4,978 from 4,807 in the previous year[104] - The company recognizes the risk of talent shortages in the environmental protection industry and is implementing long-term incentive mechanisms to attract and retain skilled professionals[51]

Financial Performance - The company's operating revenue for Q1 2021 was CNY 751.43 million, representing a year-on-year increase of 14.19%[8] - Net profit attributable to shareholders decreased by 42.80% to CNY 31.78 million compared to the same period last year[8] - The net cash flow from operating activities dropped by 78.23% to CNY 50.88 million, down from CNY 233.73 million in the previous year[8] - The company's net profit margin decreased due to increased operating costs, with operating costs rising by approximately 18.4% year-over-year[42] - The net profit for the first quarter of 2021 was CNY 29,972,638.72, down from CNY 46,779,584.14 year-over-year, representing a decline of approximately 36%[44] - The profit attributable to the parent company's shareholders was CNY 31,781,096.24, compared to CNY 55,561,985.79 in the same period last year, indicating a decrease of about 43%[44] - The total comprehensive income for the first quarter was CNY 29,963,872.83, compared to CNY 48,005,190.10 in the same period last year, reflecting a decline of approximately 37%[44] - The total profit for the first quarter was CNY 40,446,966.38, down from CNY 63,894,702.86 year-over-year, representing a decrease of about 37%[44] - The operating profit for the first quarter was CNY 39,634,004.76, compared to CNY 67,003,424.53 in the previous year, indicating a decline of approximately 41%[44] Revenue and Costs - Revenue from resource recycling products reached approximately CNY 299 million, up 50.11% year-on-year, driven by rising copper prices and increased sales volume[9] - Total operating costs for Q1 2021 were CNY 725,661,678.49, up from CNY 613,067,635.72 in the previous period[42] - Sales expenses rose by 35.83% to ¥25,807,700.26 as the company intensified market expansion efforts amid increased competition in the hazardous waste market[19] - The company reported a significant decline in gross profit due to a sharp drop in hazardous waste disposal prices amid intensified market competition[9] Cash Flow and Investments - The cash inflow from operating activities was CNY 840,101,872.46, an increase from CNY 821,172,989.73 in the previous period[49] - The cash and cash equivalents at the end of the period decreased to 531,582,547.85 CNY from 1,289,310,293.07 CNY in the previous period, reflecting a significant decline[52] - The company recorded a cash inflow of 1,049,000,000.00 CNY from borrowings, which is an increase from 1,008,389,500.00 CNY in the previous period[55] - The company reported a total cash outflow from investing activities of 274,358,827.36 CNY, compared to 158,033,167.73 CNY in the previous period, indicating increased investment expenditures[52] - The net cash flow from investing activities was -¥273,439,387.71, a 73.36% increase in cash outflows due to accelerated project construction payments[19] Assets and Liabilities - Total assets at the end of the reporting period were CNY 10.49 billion, a slight increase of 0.59% from the end of the previous year[8] - Total liabilities increased to CNY 4,847,978,429.78 from CNY 4,662,309,685.96, indicating a rise in financial obligations[39] - The total equity attributable to shareholders rose to CNY 4,571,970,731.78 from CNY 4,539,562,929.93, reflecting a slight increase in shareholder value[35] - The total non-current liabilities amounted to CNY 687,051,459.41, slightly up from CNY 669,568,826.25, indicating stable long-term financial commitments[39] Research and Development - R&D expenses increased by 44.69% to ¥31,944,281.61, reflecting the company's commitment to innovation in response to rapid industry growth and competition[19] - Research and development expenses for Q1 2021 were CNY 31,944,281.61, compared to CNY 22,077,328.15 in the previous period, indicating a focus on innovation[42] Strategic Initiatives - The company plans to enhance its core competitiveness by expanding domestic and international markets and improving service levels[9] - The company will continue to strengthen budget management and control costs and expenses to adapt to the competitive landscape[9]

Financial Performance - The company's operating revenue for 2020 was ¥3,315,021,211.14, a decrease of 4.15% compared to ¥3,458,591,061.22 in 2019[19]. - The net profit attributable to shareholders for 2020 was ¥303,160,989.32, down 28.49% from ¥423,929,691.12 in 2019[19]. - The net cash flow from operating activities decreased by 21.12% to ¥974,142,244.55 in 2020 from ¥1,234,997,113.16 in 2019[19]. - The basic earnings per share for 2020 was ¥0.34, a decline of 29.17% compared to ¥0.48 in 2019[19]. - The total assets at the end of 2020 were ¥10,424,153,481.19, reflecting a slight increase of 0.28% from ¥10,395,432,084.42 at the end of 2019[19]. - The weighted average return on net assets for 2020 was 6.85%, down from 10.11% in 2019, indicating a decrease in profitability[19]. - The company received government subsidies amounting to ¥50,709,765.82 in 2020, compared to ¥59,903,817.06 in 2019[24]. - The total operating revenue for 2020 was approximately ¥3.32 billion, a decrease of 4.15% compared to ¥3.46 billion in 2019[45]. - The net profit attributable to shareholders was RMB 303.16 million, down 28.49% year-on-year, with a net profit of RMB 270.39 million after deducting non-operating gains and losses, a decline of 25.19%[36]. Dividend Policy - The company reported a cash dividend of 1.10 RMB per 10 shares based on a total of 879,267,102 shares, amounting to a total distribution of approximately 96.7 million RMB[5]. - The cash dividend for 2020 represents 31.90% of the net profit attributable to ordinary shareholders, which is RMB 303,160,989.32[99]. - The cash dividend policy has been consistent, with 2019's dividend being RMB 1.50 per 10 shares, totaling RMB 131,890,065.30, representing 31.11% of the net profit[98]. - In 2018, the company distributed RMB 1.40 per 10 shares, totaling RMB 123,097,394.28, which accounted for 30.18% of the net profit[97]. - The company has maintained a cash dividend payout ratio above 80% in line with its mature development stage and absence of major capital expenditure plans[100]. Environmental Commitment - The company is committed to environmental protection and waste management, focusing on hazardous waste treatment and recycling services[14]. - The company processed over 9,000 tons of medical waste during the pandemic, contributing to local epidemic prevention efforts[36]. - The company has established a comprehensive wastewater treatment system, achieving stable reductions in chemical oxygen demand and heavy metals, ensuring compliance with discharge standards[158]. - The company has achieved certification for its quality, environment, and occupational health and safety management systems, covering major operational activities related to hazardous waste management[151]. - The company has implemented a reliable environmental monitoring plan and has passed environmental acceptance for seven units, including Xingye Dongjiang and Weifang Dongjiang[157]. - The company has actively engaged in environmental education and community involvement, organizing various activities for World Environment Day[155]. - The company has developed and introduced new environmental technologies to enhance waste treatment and resource recycling, including advanced wastewater treatment and waste gas collection systems[158]. - The company has committed to continuous improvement in environmental information transparency, with real-time monitoring systems linked to government departments[159]. Operational Efficiency - The company aims to expand its market presence and enhance its service offerings through strategic partnerships and technological advancements[14]. - The company is focused on developing new technologies and products to improve its service efficiency and environmental impact[14]. - The company achieved a reduction in financial expenses by ¥22.22 million year-on-year through measures such as issuing medium-term notes and replacing high-interest debt[40]. - The company launched a "hazardous waste operation management information platform" across 7 subsidiaries, enhancing compliance and operational efficiency[40]. - The company has established 7 provincial and municipal-level technology research and development platforms in the past five years, enhancing its innovation capabilities[31]. Market Expansion - The company plans to enhance pandemic prevention measures, focus on key project construction, and drive technological innovation to explore new profit growth points[20]. - The company is actively pursuing the acquisition of the Xiongfeng Environmental project to expand into the precious metal recovery market[38]. - The company is focusing on expanding its hazardous waste operation qualifications to achieve stable revenue growth[89]. - The company plans to complete relevant state-owned asset review procedures within 12 months and will reasonably influence controlled enterprises to avoid substantial competition with Dongjiang Environmental Protection[106]. - The company has completed a strategic acquisition of a competitor for 200 million, expected to enhance operational efficiency[165]. Shareholder Relations - The company has a dedicated investor relations email for inquiries, indicating its commitment to transparency and communication with stakeholders[15]. - The company has established a shareholder return plan for 2018-2020, which has been approved by the shareholders' meetings[96]. - The company guarantees that all related transactions with listed companies will be fair and conducted according to normal commercial practices[102]. - The company has committed to avoiding any actions that may harm the interests of East Jiang Environmental Protection and its minority shareholders during its control period[104]. - The company will ensure that any business opportunities that may compete with East Jiang Environmental Protection will be transferred to it[104]. Safety and Compliance - The company emphasizes the importance of safety and environmental protection in its operations, continuously improving its safety responsibility system[93]. - The company maintained a stable safety and environmental management situation, with a 62.5% year-on-year decrease in accident rates and no major safety incidents reported[41]. - The company has identified environmental risk points and developed emergency response plans, conducting training and drills as required[181]. - Environmental monitoring plans were established in compliance with national regulations, with monitoring results publicly disclosed[182]. - The company strictly implemented the environmental protection "three simultaneous" system and obtained hazardous waste operation permits from local ecological environment authorities[180]. Research and Development - The company’s R&D investment amounted to ¥145,260,572.84, representing 4.38% of operating revenue, a decrease of 10.16% compared to the previous year[56]. - The company applied for 63 new patents and received 81 new patent authorizations during the reporting period, with two achievements recognized as internationally leading[42]. - The company is investing 50 million in R&D for new technologies aimed at reducing emissions by 30% over the next three years[164]. - The company is committed to technological innovation, establishing national and provincial key laboratories to enhance its R&D capabilities[90]. - The company is actively developing high-margin resource utilization technologies to maintain its industry-leading position[90]. Legal and Regulatory Matters - The company has no significant accounting errors that require retrospective restatement during the reporting period[113]. - The company has no major litigation or arbitration matters during the reporting period, with ongoing cases involving amounts of 119.77 million RMB and 154.37 million RMB respectively[118]. - The company has no penalties or rectification situations during the reporting period[119]. - The company has no bankruptcy reorganization matters during the reporting period[117]. - The company has no changes in accounting policies or estimates compared to the previous year[112].

Financial Performance - Operating revenue for the reporting period was CNY 823,336,475.02, down 7.24% year-on-year, and CNY 2,302,366,568.05 for the year-to-date, down 10.67%[8] - Net profit attributable to shareholders was CNY 68,867,618.71, a decrease of 13.50% year-on-year, and CNY 229,409,573.93 for the year-to-date, down 30.91%[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 36,877,821.96, down 42.47% year-on-year[8] - Basic earnings per share for the reporting period were CNY 0.08, down 11.11% year-on-year, and CNY 0.26 for the year-to-date, down 31.58%[8] - The net profit excluding non-recurring items decreased by 42.47% to 36,877,821.96 from 64,106,861.86, influenced by rising collection prices and declining disposal prices in resource recovery business[16] - The net profit for the third quarter was CNY 79,181,037.39, down from CNY 93,306,813.00 year-over-year, representing a decline of approximately 15.1%[40] - The profit before tax totaled CNY 101,577,672.86, compared to CNY 111,269,879.80 in the same quarter last year, indicating a decrease of about 8.3%[40] - The total comprehensive income for the third quarter was CNY 79,017,843.41, compared to CNY 93,066,372.81 in the prior year, reflecting a decline of approximately 15.1%[40] - The company reported a total operating cost of CNY 91,475,415.17 for the third quarter, down from CNY 131,916,592.74 in the previous period[42] Assets and Liabilities - Total assets at the end of the reporting period were CNY 10,271,069,793.09, a decrease of 1.20% compared to the end of the previous year[8] - The total number of shareholders at the end of the reporting period was 45,405[12] - Cash and cash equivalents decreased by 371.56% to -504,806,833.67 from 185,889,976.81 due to repayment of bank loans[16] - Other receivables decreased by 44.35% to 115,110,791.95 from 206,849,864.62, primarily due to the termination of a specific project funding[16] - Non-current assets increased by 46.89% to 168,569,523.41 from 114,756,634.20, mainly due to increased prepayments for equipment and project costs[16] - Short-term borrowings increased by 14.66% to 2,000,342,256.66 from 1,744,166,400.00, indicating a rise in financing needs[29] - The total assets decreased slightly by 1.2% to 10,271,069,793.09 from 10,395,432,084.42, reflecting overall financial adjustments[29] - The company’s accounts receivable increased by 6.77% to 901,008,355.39 from 843,722,663.17, indicating growth in sales or credit terms[28] - Total liabilities decreased to CNY 4,718,583,173.53 from CNY 4,707,057,018.49[35] Cash Flow - The net cash flow from operating activities was CNY 227,349,987.26, a decrease of 23.49% compared to the same period last year[8] - The net cash flow from financing activities decreased by 170.54% to -389,813,052.81 from -144,086,057.00, reflecting repayment of maturing bonds and bank loans[16] - The net cash flow from operating activities was 626,425,189.13 CNY, a decrease from 880,570,099.85 CNY in the previous quarter, indicating a decline of approximately 29%[55] - Total cash inflow from operating activities amounted to 2,684,305,080.23 CNY, while cash outflow was 2,057,879,891.10 CNY, resulting in a net inflow of 626,425,189.13 CNY[55] - Cash inflow from financing activities totaled 2,374,307,180.77 CNY, while cash outflow was 2,764,120,233.58 CNY, leading to a net cash outflow of 389,813,052.81 CNY[56] - The ending balance of cash and cash equivalents was 591,936,911.45 CNY, down from 1,214,881,269.28 CNY in the previous quarter, indicating a decrease of approximately 51%[56] Investment and Expenses - The company reported a significant increase in asset disposal gains by 4634.10% to 17,553,490.97 from 370,788.18 due to property sales[16] - The company reported a decrease in investment income to CNY 10,124,271.71 from CNY 12,686,603.12 year-over-year[47] - Research and development expenses increased to CNY 7,189,654.24, up from CNY 5,573,185.12 in the previous year, reflecting a focus on innovation[51] - The company experienced a significant reduction in credit impairment losses, reporting CNY -5,095,397.63 compared to CNY -82,175,186.79 in the previous year[47] Shareholder Information - The top shareholder, HKSCC NOMINEES LIMITED, held 22.76% of the shares, totaling 200,095,962 shares[12] - The total equity attributable to shareholders increased to CNY 4,441,947,862.00 from CNY 4,344,631,763.32[31] Market Outlook - The company aims to enhance market expansion and product development strategies moving forward, although specific figures were not disclosed in the report[47]

Financial Performance - Total revenue for the six months ended June 30, 2020, was RMB 1,479,030,093.03, a decrease of 12.5% compared to RMB 1,689,879,261.29 for the same period in 2019[30]. - Net profit for the six months ended June 30, 2020, was RMB 157,695,636.25, a decline of 45.7% compared to RMB 291,021,261.32 in 2019[31]. - Operating profit for the period was RMB 200,850,068.54, down 40.0% from RMB 335,214,928.87 in the previous year[31]. - Operating revenue for the first half of 2020 was RMB 226,054,891.08, a decrease of 22.9% compared to RMB 293,371,416.88 in the same period of 2019[33]. - Net profit for the first half of 2020 was RMB 41,415,623.03, down 74.7% from RMB 164,022,001.29 in the first half of 2019[34]. - Total comprehensive income for the first half of 2020 was RMB 158,823,849.45, down 45.2% from RMB 289,617,475.45 in the first half of 2019[32]. - The company reported a significant drop in profit attributable to minority interests, which was a loss of RMB 2,846,318.97 compared to a profit of RMB 38,586,119.09 in 2019[31]. - The company reported a net loss attributable to minority shareholders of RMB 2,846,318.97 in the first half of 2020, compared to a profit of RMB 38,586,119.09 in the same period of 2019[32]. - The company reported a net loss of RMB 121,241,824.27 for the period, indicating financial challenges[59]. Revenue Breakdown - The industrial waste resource recovery business generated revenue of RMB 481,624,599.08, down from RMB 565,662,430.25, reflecting a decrease of about 14.9% year-over-year[62]. - The industrial waste treatment and disposal services revenue was RMB 690,562,901.50, compared to RMB 796,882,986.93 in the previous year, indicating a decline of approximately 13.3%[62]. - The municipal waste treatment and disposal services revenue decreased to RMB 61,304,968.85 from RMB 106,423,903.40, a drop of around 42.4%[62]. - The environmental engineering and services segment saw an increase in revenue to RMB 124,257,574.36 from RMB 74,549,762.17, marking a growth of approximately 66.7%[62]. - The electronic waste dismantling segment generated revenue of RMB 66,153,140.34, down from RMB 88,576,844.85, reflecting a decline of approximately 25.3%[62]. Expenses and Costs - Total operating costs for the same period were RMB 1,340,142,470.69, down 6.4% from RMB 1,432,543,142.88 in 2019[30]. - Other income decreased to RMB 56,940,104.37 from RMB 74,200,780.20, reflecting a decline of 23.3%[31]. - Research and development expenses remained stable at RMB 51,787,340.10, slightly up from RMB 51,776,104.93 in 2019[30]. - Financial expenses decreased to approximately RMB 63,396,658, representing about 4.29% of total revenue, down from 4.12% in 2019, due to optimized financing structure[104]. - Management expenses increased slightly to approximately RMB 165,919,001, accounting for about 11.22% of total revenue, up 1.54 percentage points from 9.49% in 2019[103]. - Sales expenses for the period were approximately RMB 48,484,603, representing about 3.28% of total revenue, a slight decrease from 3.29% in 2019 due to reduced business activities impacted by the COVID-19 pandemic[102]. Assets and Liabilities - As of June 30, 2020, total current assets decreased to RMB 2,654,995,417.50 from RMB 3,025,673,151.15, representing a decline of approximately 12.24%[36]. - Total liabilities decreased to RMB 5,100,945,095.98 from RMB 5,360,588,714.91, reflecting a reduction of about 4.84%[39]. - Total equity attributable to the parent company increased to RMB 4,373,175,965.42 from RMB 4,344,631,763.32, marking a growth of approximately 0.66%[40]. - The total assets decreased to RMB 10,224,186,348.62 from RMB 10,395,432,084.42, reflecting a decrease of approximately 1.64%[38]. - The company's total owner's equity decreased to RMB 2,887,470,164.70 from RMB 2,977,944,606.97, reflecting a decline of approximately 3.0%[45]. Cash Flow - Cash inflows from operating activities totaled RMB 1,664,364,999.04, a decrease from RMB 2,028,660,810.19, indicating a decline of approximately 17.9%[46]. - Operating cash flow for the six months ended June 30, 2020, was RMB 399,075,201.87, a decrease of 31.5% compared to RMB 583,438,087.84 for the same period in 2019[47]. - The net cash flow from financing activities was negative at RMB -373,755,920.16, contrasting with a positive cash flow of RMB 38,320,439.13 in the same period of 2019[49]. - The ending cash and cash equivalents balance was RMB 780,088,534.98, down from RMB 1,303,447,097.46 at the end of June 2019, representing a decrease of 40.0%[49]. - Cash inflow from financing activities totaled RMB 2,024,090,572.00, a substantial increase of 79.9% compared to RMB 1,126,108,028.84 in the same period last year[48]. Strategic Focus and Future Plans - The company plans to focus on market expansion and new technology development in the upcoming quarters[30]. - The company is focusing on expanding its environmental engineering services as a strategic growth area, which has shown promising revenue growth[62]. - The company plans to enhance its market presence through strategic initiatives in waste management and resource recovery sectors[62]. - In the second half of 2020, the company will focus on stabilizing and expanding the hazardous waste market, accelerating project construction, enhancing R&D, and controlling costs and expenditures[115]. - The company intends to explore new business opportunities in hazardous waste collection and recycling, including the dismantling and recycling of old vehicles and power battery recovery[119]. Tax Incentives - The company benefits from a reduced corporate income tax rate of 15% due to its status as a high-tech enterprise, along with a 75% deduction for R&D expenses[70]. - The company benefited from various tax incentives, including a 100% VAT refund for biogas electricity generation from waste fermentation for the period from January 2020 to December 2020[81]. - The company has ongoing tax incentives for environmental protection projects, including a 50% reduction in corporate income tax from 2023 to 2025[80]. Corporate Governance and Management - The company has established an audit committee to oversee financial reporting, risk management, and internal audit functions, complying with listing rules[140]. - The company has revised its articles of association in accordance with new regulations and its operational situation[126]. - The company plans to appoint a new auditor, Zhongshen Zhonghuan, after the current auditor's term ends on June 29, 2020[129]. - The company has made amendments to its governance structure to align with updated regulatory requirements[126].

Financial Performance - Dongjiang Environmental reported no cash dividends or stock bonuses for the current period[6]. - The company's operating revenue for the reporting period was ¥1,479,030,093.03, a decrease of 12.48% compared to the same period last year[20]. - The net profit attributable to shareholders was ¥160,541,955.22, down 36.40% year-on-year[20]. - The net cash flow from operating activities was ¥399,075,201.87, reflecting a decline of 31.60% compared to the previous year[20]. - The company maintained a total asset value of ¥10,224,186,348.62, which is a decrease of 1.65% from the end of the previous year[20]. - The company achieved operating revenue of approximately RMB 1.479 billion in the first half of 2020, a year-on-year decrease of 12.48%[36]. - The net profit attributable to shareholders was approximately RMB 161 million, down 36.40% year-on-year, primarily due to the impact of COVID-19 on hazardous waste disposal demand[36]. - The company reported a significant decrease in municipal waste treatment revenue, which fell by 42.40% due to policy adjustments affecting landfill volumes[53]. - Revenue from environmental engineering and services increased by 66.68%, primarily due to the recognition of income from the Zhuhai Fushan First Water Purification Plant project[53]. - The company reported a total of 555.76 million yuan in settled litigation amounts during the reporting period, with an effective judgment amount of approximately 382.76 million yuan[86]. Operational Strategy - The company aims to expand hazardous waste treatment capacity and improve utilization rates, focusing on key regions such as the Guangdong-Hong Kong-Macao Greater Bay Area and Yangtze River Delta[28]. - The company is focusing on expanding its hazardous waste disposal business, particularly in high-risk and high-value waste categories, to cultivate new profit growth points[41]. - The company plans to complete the construction of three key projects, which will add 97,400 tons/year of landfill capacity and 30,000 tons/year of incineration capacity[42]. - The company aims to enhance management quality and operational efficiency through refined management practices and standardized operational procedures[42]. - The company is actively working on environmental technology development and project management, with a focus on pollution control and resource recovery[80]. - The company is committed to planning business directions to avoid substantial competition with its subsidiaries, ensuring compliance with relevant regulations[80]. Research and Development - The company has developed multiple core technologies for waste treatment and resource utilization, positioning itself as a leader in the industry[32]. - The company added 35 new patents during the reporting period, bringing the total to 375 patents, enhancing its technological capabilities[40]. - The company is committed to innovation-driven development and plans to strengthen its research and development capabilities through market-oriented reforms[44]. - Research and development investment decreased by 13.58% to ¥61,918,172.10 from ¥71,650,880.68 year-on-year[47]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[112]. - The company has a total of 1 wastewater discharge point with a COD limit of 500 mg/L, and the actual discharge was 0.7756 tons/year[112]. - The company has a total of 2 organized gas discharge points for SO2 and NOx, with limits of 300 mg/m³ and 500 mg/m³ respectively, and actual discharges of 2.85 tons/year for SO2 and 15.25 tons/year for NOx[112]. - The company has implemented emergency response plans for environmental incidents, including training and drills for staff[126]. - The company has established self-monitoring plans for environmental compliance, submitting results to local authorities and making them publicly available[127]. - The company has successfully issued medium-term notes totaling RMB 600 million, with funds received on May 12, 2020[132]. Financial Management - The company received a financial support of RMB 110 million from its controlling shareholder to aid in resuming operations during the pandemic, with an interest rate of 3.3%[99]. - The company signed a financial services agreement with Guangsheng Financial Company, allowing a maximum daily deposit balance of RMB 240 million and a comprehensive credit limit of RMB 1 billion for one year[100]. - The total amount of external guarantees approved during the reporting period was RMB 54.4 million, with an actual guarantee amount of RMB 11.99 million at the end of the reporting period[106]. - The company has no instances of unauthorized external guarantees during the reporting period[108]. - The company reported no entrusted financial management activities during the reporting period[109]. Shareholder Information - The company has a registered capital of CNY 60 million for Baoan Dongjiang and CNY 110 million for Jiangsu Dongjiang[69]. - The largest shareholder, HKSCC NOMINEES LIMITED, holds 22.76% (200,095,912 shares) of the total shares, with no change during the reporting period[143]. - The total number of ordinary shareholders at the end of the reporting period was 40,451[143]. - The company did not conduct any repurchase transactions during the reporting period[145]. - The report indicates that there were no changes in the number of shares held by the top 10 unrestricted shareholders[145]. Market Risks and Challenges - Future plans and strategic developments are subject to market risks and do not constitute binding commitments to investors[5]. - The company is facing risks related to market competition, talent shortages, safety and environmental production, project progress, and environmental policy compliance[72]. - The company has faced challenges in project approval speeds due to stricter environmental policies, impacting project timelines[72]. - The company plans to strengthen project and market expansion, increase investment and financing, and actively explore market opportunities in response to intensified industry competition[71].

T三 DONGJIANG ENVIRONMENTAL COMPANY LIMITED* 東 江 環 保 股 份 有 限 公 司 (於中華人民共和國註冊成立之股份有限公司) (股份代號：00895) 01/20 U FE *僅供識別 目錄 公司資料 2 3 財務概要 4 董事長報告 6 管理層討論與分析 22 管理層簡介 26 董事會工作報告 40 監事會工作報告 41 企業管治報告 53 審計報告 60 合併資產負債表 63 母公司資產負債表 65 合併利潤表 68 母公司利潤表 70 合併現金流量表 73 母公司現金流量表 75 合併股東權益變動表 77 母公司股東權益變動表 79 財務報表附註 公司資料 公司資料 | --- | --- | --- | |--------------------------------------------------|-------------------------------------------------|-------| | 執行董事 | 戰略發展委員會 | | | 譚 侃 （董事長） | 譚 侃 （主席） | | | 姚 曙 （總 裁）（於 2019 年 ...

Financial Performance - The company's operating revenue for Q1 2020 was ¥658,045,177.74, a decrease of 18.42% compared to ¥806,667,629.12 in the same period last year[8] - Net profit attributable to shareholders was ¥55,561,985.79, down 48.57% from ¥108,028,970.63 year-on-year[8] - The net cash flow from operating activities was ¥233,731,141.27, reflecting a decline of 26.54% compared to ¥318,168,801.69 in the previous year[8] - Basic earnings per share dropped to ¥0.06, a 50.00% decrease from ¥0.12 in the same period last year[8] - Net profit for Q1 2020 was CNY 46,779,584.14, down from CNY 125,892,657.83 in the same period last year[40] - Operating profit for the current period is ¥41,699,180.66, compared to ¥16,633,614.60 in the previous period, indicating significant growth[44] - Net profit for the current period is ¥42,062,771.38, up from ¥16,691,598.16 in the previous period, reflecting a strong performance[44] - The company reported a total comprehensive income of ¥42,062,771.38 for the current period, compared to ¥16,691,598.16 in the previous period[45] Assets and Liabilities - The total assets at the end of the reporting period were ¥10,583,195,435.00, an increase of 1.81% from ¥10,395,432,084.42 at the end of the previous year[8] - Total assets amounted to ¥10,583,195,435, up from ¥10,395,432,084.42[30] - Current assets totaled ¥3,187,982,806.99, an increase from ¥3,025,673,151.15[29] - Total liabilities increased to ¥5,468,800,648.42 from ¥5,360,588,714.91[31] - Total liabilities rose to CNY 5,807,449,028.95 from CNY 4,707,057,018.49[36] - Current assets increased significantly to CNY 4,493,226,083.30 from CNY 3,473,137,881.66[33] - The company's total equity reached CNY 3,020,007,378.35, up from CNY 2,977,944,606.97[36] Cash Flow - Cash flow from financing activities increased by 183.10% to ¥118,320,553.19, mainly due to an increase in short-term loans[17] - Cash and cash equivalents increased by 639.41% to ¥192,566,547.95, resulting from higher financing cash inflows and reduced investment expenditures[17] - Cash flow from operating activities is ¥233,731,141.27, a decrease from ¥318,168,801.69 in the previous period[48] - Cash and cash equivalents at the end of the period amount to ¥1,289,310,293.07, an increase from ¥993,291,515.42 at the end of the previous period[49] - The company’s cash flow from financing activities generated a net cash inflow of ¥118,320,553.19, compared to a net outflow of ¥142,378,824.87 in the previous period[49] - The net increase in cash and cash equivalents was approximately $76.69 million, contrasting with a decrease of $134.82 million in the previous period[52] - The ending balance of cash and cash equivalents was approximately $654.72 million, compared to $576.64 million at the end of the previous period[52] Operational Highlights - The company managed to handle approximately 4,000 tons of medical waste during the reporting period, demonstrating its commitment to public health amid the pandemic[8] - The company plans to focus on five key areas to achieve its performance targets, including market expansion and cost control[9] - The company aims to enhance safety and environmental management while continuing to implement pandemic prevention measures[9] - The company has made progress in obtaining hazardous waste operating qualifications, with Fujian Oasis Solid Waste Disposal Co., Ltd. acquiring a 20,000 tons/year incineration qualification[8] Expenses and Costs - Sales expenses decreased by 35.92% to ¥18,999,312.46, attributed to reduced business activities due to the COVID-19 pandemic[17] - Total operating costs decreased to CNY 613,067,635.72 from CNY 690,420,301.56, with operating costs specifically down to CNY 452,286,691.64 from CNY 515,703,491.98[39] - The company reported a decrease in research and development expenses to CNY 22,077,328.15 from CNY 22,223,479.42[39] - The company incurred financial expenses of ¥14,938,487.14, down from ¥19,041,358.62 in the previous period[43] Investment Performance - Investment income rose by 164.33% to ¥2,015,074.39, driven by increased returns from joint ventures and associates[17] - Investment income for the current period is ¥52,015,074.39, significantly higher than ¥16,762,346.29 in the previous period[43] Miscellaneous - The company did not undergo an audit for the first quarter report[54] - The chairman of the company is Tan Kan, who provided the report on April 30, 2020[55]

Financial Performance - The company's operating revenue for 2019 was ¥3,458,591,061.22, representing a 5.31% increase compared to ¥3,284,080,652.02 in 2018[18]. - The net profit attributable to shareholders for 2019 was ¥423,929,691.12, a 3.93% increase from ¥407,917,006.14 in 2018[18]. - The net cash flow from operating activities increased by 37.58% to ¥1,234,997,113.16 in 2019, up from ¥897,658,614.67 in 2018[18]. - The total assets at the end of 2019 were ¥10,395,432,084.42, reflecting a 6.68% increase from ¥9,744,457,681.11 at the end of 2018[18]. - The net profit excluding non-recurring gains and losses for 2019 was ¥361,422,588.12, an 11.75% increase from ¥323,431,535.09 in 2018[18]. - The basic earnings per share for 2019 was ¥0.48, a 2.13% increase from ¥0.47 in 2018[18]. - The total revenue for 2019 was CNY 2,210,633,262.30, representing a year-on-year increase of 4.02% compared to CNY 2,125,240,410.09 in 2018[57]. - The company reported a significant increase in cash flow from operating activities, indicating strong operational performance[65]. Dividend Distribution - The company reported a profit distribution plan to distribute a cash dividend of 1.5 RMB per 10 shares (including tax) based on a total of 879,267,102 shares[5]. - The cash dividend amount for 2019 was RMB 131,890,065.30, representing 31.11% of the net profit attributable to ordinary shareholders[105]. - The total cash dividend distributed was 100% of the distributable profit amounting to RMB 1,359,220,177.94[106]. - The cash dividend for 2018 was RMB 123,097,394.28, which accounted for 30.18% of the net profit attributable to ordinary shareholders[105]. - The cash dividend for 2017 was RMB 142,823,116.42, representing 30.17% of the net profit attributable to ordinary shareholders[105]. - The company plans to distribute profits primarily through cash dividends, with a minimum of 20% of the distributable profits allocated for cash dividends each year[112]. - The company has committed to distributing no less than 30% of the average annual distributable profits over three years in cash[112]. Operational Capacity and Expansion - The company plans to expand its hazardous waste treatment capacity and enhance service capabilities in key regions such as the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta[29]. - The company has established 28 hazardous waste treatment and disposal bases across 9 provinces, serving approximately 30,000 clients, which is a year-on-year increase of 15.4%[43]. - The company’s hazardous waste operating capacity exceeds 1.9 million tons per year, with incineration capacity of approximately 300,000 tons per year and landfill capacity of about 180,000 tons per year[43]. - The company has a total design capacity exceeding 20,000 tons/year from completed and under-construction projects, with over 80% of this capacity dedicated to incineration and landfill, aligning with its strategic focus on enhancing harmless disposal capabilities[45]. - The company is actively exploring new market opportunities and optimizing existing operations to enhance market share amid increasing industry competition[45]. - The company is focusing on expanding its hazardous waste disposal services, particularly in medical waste, laboratory waste, and chemical waste, leveraging 20 years of core technology in the hazardous waste sector[93]. - The company aims to expand its overseas market presence, particularly in Hong Kong and Macau, in response to the "Belt and Road" initiative, promoting its advanced technologies abroad[94]. Technological Innovation and R&D - The company is focusing on technological innovation and service integration to enhance its business model and operational efficiency[29]. - The company has developed multiple core technologies for waste treatment and resource recovery, enhancing its competitive edge in the industry[34]. - Research and development expenses rose by 39.12% to CNY 127,360,440.74, reflecting the company's commitment to innovation in response to competitive pressures in the environmental industry[62]. - The company added 68 new authorized patents during the reporting period, bringing the total to 338, including 11 invention patents[49]. - The company is focusing on R&D for advanced waste treatment technologies to improve operational efficiency and environmental impact[176]. Environmental Commitment and Compliance - The company is committed to environmental protection and sustainable development through its various business operations[9]. - The company has implemented a comprehensive EHS system to ensure employee health and safety, strictly adhering to national occupational health regulations[160]. - The company has achieved significant improvements in resource utilization and CO2 emissions reduction through its circular economy and energy-saving initiatives[167]. - The company’s wastewater treatment facilities have successfully reduced chemical oxygen demand (COD) and ammonia nitrogen levels, achieving compliance with discharge standards[170]. - The company has implemented real-time monitoring systems for pollution discharge, ensuring transparency and adherence to environmental regulations[170]. - The company has established emergency response plans for environmental incidents, ensuring preparedness and compliance with legal requirements[189]. - The company has adhered to pollutant discharge permit systems, timely renewing permits and fulfilling discharge reporting obligations[188]. Corporate Governance and Management - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and senior management[4]. - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute a commitment to investors, highlighting the associated risks[5]. - The company has implemented changes in accounting policies and estimates, which were approved by the board of directors[114]. - The company is actively managing potential competition with its subsidiaries to avoid conflicts of interest[110]. - The company has established a talent development system that combines professional skills and leadership, continuously providing high-quality talent for its development[159]. Subsidiaries and Investments - The company has a total of 70 subsidiaries, expanding its operations through new establishments, mergers, and acquisitions, covering key industrial waste markets in China[33]. - The company appointed Xinyong Zhonghe Accounting Firm with an audit fee of 1.35 million CNY, maintaining a continuous service period of 15 years[126]. - The company has established three new subsidiaries: Jieyang Dongjiang, Huizhou Dongtou, and Zhuhai Dongjiang, while two subsidiaries were deregistered[125]. - The company approved a capital increase of RMB 50 million to its associate company, Ousheng Green Fuel (Jieyang) Co., Ltd., with the first phase of RMB 11.13 million to be paid by January 3, 2020[143]. Safety and Risk Management - The company emphasizes a strong commitment to safety and environmental protection, establishing long-term mechanisms for risk management and safety training[96]. - In 2019, the company did not experience any major safety production responsibility accidents or significant environmental pollution incidents[160]. - The company has conducted emergency drills in collaboration with local government agencies to enhance its emergency response capabilities[161].

Financial Performance - Operating revenue for the reporting period was CNY 887,564,909.39, representing a year-on-year increase of 9.42%[8] - Net profit attributable to shareholders decreased by 25.35% to CNY 79,619,996.54 compared to the same period last year[8] - Basic earnings per share decreased by 30.77% to CNY 0.09[8] - The company reported a net profit attributable to shareholders after deducting non-recurring gains and losses of CNY 64,106,861.86, a decrease of 37.41% compared to the same period last year[8] - The company's third-quarter revenue reached approximately 887.56 million yuan, representing a year-on-year growth of about 9.42%[17] - The net profit attributable to shareholders for the third quarter was approximately 79.62 million yuan, a year-on-year decrease of about 25.35% due to credit loss provisions[17] - The total operating revenue for Q3 2019 was CNY 887,564,909.39, an increase of 9.4% compared to CNY 811,125,151.25 in the same period last year[36] - The net profit for the third quarter was CNY 93,306,813.00, down 22.0% from CNY 119,546,302.35 year-over-year[38] - The company's total profit for the third quarter was CNY 111,269,879.80, compared to CNY 131,589,957.74 in the previous year, reflecting a decline of 15.4%[38] - The total comprehensive income for the third quarter was CNY 93,066,372.81, compared to CNY 119,150,566.38 in the previous year, indicating a decrease of 21.9%[38] Assets and Liabilities - Total assets increased by 5.60% to CNY 10,289,702,984.41 compared to the end of the previous year[8] - The company's total assets amounted to approximately 10.29 billion yuan, up from 9.74 billion yuan at the beginning of the year[28] - The total liabilities increased to CNY 5,335,487,498.73 from CNY 5,058,297,101.89, indicating a rise of 5.5%[30] - The total current liabilities reached CNY 4,506,159,489.67, up from CNY 3,524,008,760.87, indicating a year-over-year increase of 27.8%[30] Cash Flow - Net cash flow from operating activities increased by 23.50% to CNY 297,132,012.01 during the reporting period[8] - The total cash flow from operating activities increased by 63.28% to approximately 880.57 million yuan, driven by enhanced industrial waste treatment business[16] - The net cash flow from operating activities for Q3 2019 was ¥880,570,099.85, an increase from ¥539,307,205.67 in Q3 2018, reflecting a significant improvement in operational efficiency[52] - Total cash inflow from operating activities was ¥2,964,514,056.74, while cash outflow was ¥2,083,943,956.89, resulting in a net cash inflow of ¥880,570,099.85[52] Shareholder Information - The total number of shareholders at the end of the reporting period was 35,136[12] - The largest shareholder, HKSCC NOMINEES LIMITED, held 22.76% of the shares[12] Government Support - The company received government subsidies amounting to CNY 33,813,348.19 during the reporting period[9] Investment and Expenses - Research and development expenses for Q3 2019 were CNY 28,171,970.94, compared to CNY 24,344,456.21 in Q3 2018, showing a growth of 15.1%[36] - The company reported a significant increase in other income to CNY 47,643,096.40 from CNY 36,850,168.08, representing a rise of 29.1%[36] - The company incurred a credit impairment loss of CNY -74,030,955.17 in the third quarter, compared to CNY -628,785.92 in the previous year[38] - The company recorded a credit impairment loss of CNY 82,175,186.79, compared to CNY 2,975,648.83 in the same period last year, indicating increased credit risk[44] Inventory and Receivables - Other receivables decreased by 43.26% to approximately 189.87 million yuan, primarily due to the provision for bad debts and recovery of government subsidies[16] - Contract assets increased by 35.14% to approximately 129.34 million yuan, mainly from revenue recognition of public engineering projects[16] - The inventory decreased to approximately 267.21 million yuan, down from 299.71 million yuan, indicating improved inventory management[27]