Financial Performance - The company's operating revenue for Q1 2021 was ¥763,814,740.03, representing a 14.74% increase compared to ¥665,672,740.44 in the same period last year[8] - The net profit attributable to shareholders for Q1 2021 was ¥86,833,945.18, a slight increase of 0.14% from ¥86,714,886.71 in the previous year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥88,598,193.29, which is a 7.16% increase from ¥82,681,499.96 year-on-year[8] - The net profit for Q1 2021 was ¥100,366,165.59, compared to ¥98,321,823.59 in the same period last year, reflecting a growth of approximately 2.1%[42] - The net profit for Q1 2021 was CNY 19,516,610.54, a decrease of 50.3% compared to CNY 39,270,559.41 in the same period last year[46] - Operating profit for Q1 2021 was CNY 24,861,795.53, down 36.2% from CNY 38,997,741.15 in Q1 2020[46] Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥39,377,081.80, a significant decline of 220.23% compared to ¥32,751,317.41 in the same period last year[8] - Cash received from operating activities increased by 32.60% year-on-year, mainly due to an increase in receivables[15] - Cash and cash equivalents decreased to CNY 484,768,577.63 from CNY 673,233,568.28, reflecting a decline of approximately 28%[32] - The net cash flow from operating activities was negative CNY 39,377,081.80, compared to a positive CNY 32,751,317.41 in Q1 2020[50] - The company incurred a credit impairment loss of CNY 9,718,732.96, compared to CNY 8,592,205.80 in the previous year[46] - The company reported a net cash outflow from financing activities of -127,972,757.93 CNY, contrasting with a net inflow of 97,396,106.60 CNY in the previous year[54] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,705,729,702.02, reflecting a 5.22% increase from ¥4,472,312,661.08 at the end of the previous year[8] - The company's total liabilities increased to CNY 2,903,070,019.57 from CNY 2,767,738,516.23, marking an increase of approximately 4.9%[34] - The company's total assets increased to ¥2,984,888,333.52 from ¥2,883,838,628.41, marking a rise of about 3.5%[38] - Total liabilities rose to ¥1,858,225,783.08, compared to ¥1,776,831,737.58, which is an increase of approximately 4.6%[38] - The total assets amounted to 4,531,816,840.65 CNY, up from 4,472,312,661.08 CNY, indicating an increase of 59,504,179.57 CNY[58] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,128[11] - The largest shareholder, Guo Beihua, holds 37.71% of the shares, while the second-largest shareholder, Liu Shaoyun, holds 28.84%[11] - The equity attributable to shareholders reached CNY 1,533,624,121.96, up from CNY 1,446,792,574.16, which is an increase of about 6%[35] Expenses and Investments - Sales expenses increased by 118.22% year-on-year, mainly due to business expansion and an increase in awarded projects[15] - Financial expenses increased by 40.43% year-on-year, primarily due to increased interest expenses during the period[15] - Research and development expenses for the quarter were ¥2,114,011.01, indicating ongoing investment in innovation[41] - The company reported an investment loss of ¥947,958.65 from joint ventures, compared to a gain of ¥426,930.98 in the previous period[41] Compliance and Adjustments - The company has no significant non-compliance issues regarding external guarantees during the reporting period[25] - The company adjusted its financial statements due to the new leasing standards, increasing "right-of-use assets" by 65,989,762.49 CNY[59] - The first quarter report was not audited, indicating a potential area for further scrutiny[64]

Financial Performance - The company's operating revenue for 2020 was CNY 2,829,108,743.25, representing a 28.87% increase compared to CNY 2,195,309,980.94 in 2019[16]. - The net profit attributable to shareholders for 2020 was CNY 375,672,082.83, a significant increase of 186.03% from CNY 131,342,269.51 in 2019[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 370,323,760.91, up 197.55% from CNY 124,456,242.23 in 2019[16]. - The net cash flow from operating activities for 2020 was CNY 305,474,021.77, an increase of 107.27% compared to CNY 147,383,239.30 in 2019[16]. - Basic earnings per share for 2020 were CNY 0.92, reflecting a 155.56% increase from CNY 0.36 in 2019[16]. - The weighted average return on equity for the company was 30.43%, a significant increase from 16.35% in the previous year[17]. - Total assets at the end of 2020 reached ¥4,472,312,661.08, representing a 36.48% increase compared to ¥3,276,870,221.16 at the end of 2019[17]. - Net assets attributable to shareholders increased by 37.01% to ¥1,446,792,574.16 from ¥1,056,005,091.07 in 2019[17]. - The company achieved a revenue of ¥2,829,108,743.25 during the reporting period, reflecting a strong growth trend in the environmental sanitation management industry[34]. - The company reported a total distributable profit of 358,969,729.11 CNY for the year 2020, with the cash dividend accounting for 100% of the profit distribution[107]. Dividend Policy - The company plans to distribute a cash dividend of CNY 1 per 10 shares to all shareholders, based on a total of 408,660,000 shares[5]. - The cash dividend for 2020 represents 10.88% of the net profit attributable to ordinary shareholders, which was 375,672,082 CNY[106]. - The company has maintained a stable profit distribution policy, ensuring reasonable returns to investors while considering sustainable development[104]. - The cash dividends for the past three years have shown a consistent increase, with 10.03% in 2018, 10.58% in 2019, and 10.88% in 2020[106]. - The proposed cash dividend distribution is CNY 1.00 per 10 shares, totaling CNY 40,866,000 (including tax), which represents 10.88% of the net profit attributable to the parent company for the year[108]. Business Strategy and Operations - The company has maintained its focus on urban management and environmental sanitation services, with no significant changes in its business strategy[14]. - The company aims to expand its market presence by leveraging its full industry chain layout and experience in sanitation and environmental services[25]. - The company is actively involved in drafting industry standards for urban sanitation and waste management, enhancing its influence in the sector[26]. - The company has implemented a "City Manager" strategy, focusing on integrated urban management services, which improves operational efficiency and reduces public service costs[37]. - The company is focused on enhancing service quality and management levels, aligning with national policies to support sustainable development and environmental quality improvement[94]. Market Expansion and Development - The company operates in over 70 cities across 19 provinces in China, managing more than 300 projects, which enhances its national influence and competitive strength[41]. - The environmental sanitation management industry is currently in a rapid development phase, driven by government procurement and marketization, indicating significant future growth potential[33]. - The company expanded its service coverage to over 70 cities by the end of 2020, with new regional marketing centers established in Fujian, Xinjiang, Zhejiang, Sichuan, and Liaoning[45]. - The company is actively participating in the rural revitalization strategy, focusing on improving rural living environments and increasing market share through integrated sanitation services[95]. Technology and Innovation - The company has invested in technology, utilizing big data and cloud computing to enhance vehicle management and operational efficiency, leading to a more streamlined management process[42]. - The company upgraded its smart sanitation platform in collaboration with Tsinghua University, enhancing operational efficiency and project management through advanced technologies like IoT and big data[47]. - The company is committed to promoting "smart sanitation" technologies, leveraging IoT to optimize resource allocation and improve operational efficiency[94]. - The company plans to leverage new information technologies such as big data, cloud computing, and AI to improve project management efficiency and create a smart sanitation operation management ecosystem[97]. Social Responsibility - The company is actively contributing to social responsibility by providing employment opportunities to various disadvantaged groups, enhancing its brand image[41]. - The company has actively participated in poverty alleviation efforts, helping over 1,200 impoverished households find employment[150]. - The company has funded 76 impoverished students in 2020 through various educational initiatives, including scholarships and school construction[151]. - The company implemented a "Ten Thousand Miles Clean Action" public welfare annual meeting, involving 600 employees in various environmental activities, which received strong public response[148]. Financial Management and Structure - The company has a low default risk and stable income sources, primarily funded by government fiscal budgets, which ensures financial security[32]. - The company has engaged Huaxing Accounting Firm for auditing services during the reporting period[15]. - The company has a clear strategy to avoid competition with its major shareholders and management personnel[112]. - The company has a stable operational performance and is expected to generate stable operating cash flow through internal growth[176]. Employee and Management - The company has maintained a stable employee count, reaching a total of 45,000 employees in 2020, despite economic downturns and the impact of the pandemic[150]. - The management team includes experienced professionals with backgrounds in environmental technology and management[181][182][183]. - The company has implemented a competitive compensation policy that includes salaries, performance bonuses, and various insurance benefits[196]. - The training program has been enhanced to support the "City Manager" strategy, focusing on both online and offline training methods[197].

Financial Performance - Revenue for the reporting period reached ¥741,690,520.80, up 27.80% from the same period last year[8] - Net profit attributable to shareholders surged to ¥106,598,389.11, reflecting a significant increase of 175.69% year-over-year[8] - Basic earnings per share increased to ¥0.26, a rise of 136.36% compared to the same period last year[8] - Operating revenue increased by 39.26% year-on-year, primarily due to an increase in the number of project operations[18] - Total operating revenue for Q3 2020 reached ¥741,690,520.80, an increase from ¥580,342,576.13 in the same period last year[41] - Net profit for Q3 2020 was ¥121,425,624.92, compared to ¥53,720,283.98 in Q3 2019, representing a growth of approximately 126%[43] - The company reported a comprehensive income total of CNY 56,771,617.97 for the third quarter, compared to CNY 15,814,462.54 in the same quarter last year, indicating a growth of about 259.5%[47] Assets and Liabilities - Total assets increased to ¥3,808,066,383.14, representing a growth of 16.21% compared to the end of the previous year[8] - Total liabilities increased to CNY 2,232,167,142.85 from CNY 2,012,296,895.53, reflecting a rise of about 10.9%[35] - Total non-current assets reached CNY 2,075,922,670.47, compared to CNY 1,849,889,858.19, marking an increase of around 12.2%[34] - The company's total assets amounted to CNY 3,808,066,383.14, up from CNY 3,276,870,221.16, which is an increase of approximately 16.2%[36] - Total current assets increased to CNY 1,732,143,712.67 from CNY 1,426,980,362.97, representing a growth of approximately 21.4% year-over-year[33] Shareholder Information - The company reported a total of 15,772 common shareholders at the end of the reporting period[12] - The top shareholder, Guo Beihua, holds 37.71% of the shares, while Liu Shaoyun holds 28.84%[12] - The total equity attributable to shareholders was CNY 1,056,005,091.07[65] Cash Flow - Net cash flow from operating activities was ¥145,278,094.72, showing a remarkable increase of 300.92% year-over-year[8] - The total cash inflow from operating activities was CNY 2,028,424,164.34, up from CNY 1,431,783,995.21 year-on-year, indicating a growth of approximately 42%[56] - The net cash flow from operating activities was CNY 296,708,072.77, compared to CNY 55,641,447.95 in the previous year, showing a substantial increase[56] - The cash flow from financing activities generated a net inflow of CNY 303,197,840.22, down from CNY 358,642,164.81 in the previous year[57] Expenses - Management expenses increased by 161.26% year-on-year, mainly due to increased employee compensation and business entertainment expenses[18] - Financial expenses increased by 47.00% year-on-year, primarily due to increased interest expenses[18] - The company reported a significant increase in management expenses, which rose to ¥71,819,253.39 from ¥27,427,464.29 year-over-year[42] - Research and development expenses were recorded at ¥674,796.85, indicating ongoing investment in innovation[42] Changes in Accounts - Accounts receivable decreased by 53.55% compared to the end of the previous year, mainly due to the implementation of the new revenue standard in 2020, which adjusted some receivables to be presented as contract assets[16] - Accounts receivable decreased significantly to CNY 351,842,532.31 from CNY 757,535,381.80, a decline of approximately 53.7%[33] - The company reported a decrease in accounts payable to CNY 365,747,351.91 from CNY 534,758,179.77, a decline of about 31.6%[35] Capital and Financing - The company plans to publicly issue convertible bonds with a total face value of 420 million yuan, with a term of 6 years, which is currently progressing smoothly[17] - The company has raised a total of 234.71 million yuan from the public offering of A-shares, with a net amount of 188.71 million yuan after deducting issuance costs[22] - The balance of unused raised funds is 152.78 million yuan, with 1.52 million yuan in investment income and bank interest after deducting fees[22] Revenue Recognition - The company executed a new revenue standard starting January 1, 2020, impacting various financial metrics[66] - The company implemented new revenue recognition standards starting January 1, 2020, affecting financial reporting[71]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,450,623,016.06, representing a 45.95% increase compared to CNY 993,917,381.95 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2020 was CNY 186,407,829.66, a significant increase of 205.89% from CNY 60,940,045.30 in the previous year[18]. - The net cash flow from operating activities reached CNY 151,429,978.05, marking a substantial increase of 680.36% compared to CNY 19,405,100.90 in the same period last year[18]. - Basic earnings per share for the first half of 2020 were CNY 0.46, up 170.59% from CNY 0.17 in the previous year[18]. - The company's total revenue for the reporting period reached 1.451 billion yuan, with the main business income primarily derived from urban sanitation services, accounting for 97.05% of total revenue[29][35]. - Urban sanitation service revenue amounted to 1,407,889,995.11 yuan, while waste disposal revenue was 12,367,797.50 yuan, representing only 0.85% of total revenue[29][30]. - The company achieved a revenue of ¥1,450,623,016.06, representing a year-on-year growth of 45.95%[45]. - The net profit attributable to shareholders was ¥186,407,829.66, with a significant increase of 205.89% year-on-year[45]. - The company reported a total revenue of 2,066.65 million yuan for the period, representing a 1.47% increase compared to the previous period[98]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,784,515,684.68, reflecting a 15.49% increase from CNY 3,276,870,221.16 at the end of the previous year[18]. - The net assets attributable to shareholders increased to CNY 1,228,524,884.34, a rise of 16.34% from CNY 1,056,005,091.07 at the end of the previous year[18]. - The total liabilities increased to CNY 2,324,197,574.19 as of June 30, 2020, up from CNY 2,012,296,895.53, which is an increase of approximately 15.5%[146]. - The company's total liabilities to equity ratio as of June 30, 2020, was approximately 1.59, compared to 1.59 at the end of 2019, indicating stability in leverage[146]. - The company's short-term borrowings rose significantly to CNY 807,450,000.00 from CNY 455,979,481.19, marking an increase of about 77.0%[145]. Cash Flow - The company has experienced a notable increase in cash flow, attributed to improved operational efficiency and revenue growth[36]. - The company reported a net increase in cash and cash equivalents of ¥169,393,412.14, a 226.75% improvement compared to a decrease of ¥133,647,500.61 in the same period last year[51]. - Cash flow from operating activities surged to ¥151,429,978.05, a significant increase of 680.36% from ¥19,405,100.90 in the previous year[51]. - The company reported a significant increase in cash flow from financing activities, indicating improved liquidity and financial stability[165]. - The cash flow from operating activities was not detailed in the provided documents, but the overall cash position improved significantly during the period[168]. Investments and Expenditures - The company has made significant investments in fixed assets, including new transportation and machinery equipment, to support its expanding operations[36]. - Research and development investment amounted to ¥1,679,687.53, marking the first investment in R&D focused on solid waste treatment and smart sanitation[51]. - The company plans to enhance its ability to respond to policy risks by closely monitoring macro policies and exploring new technologies[82]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[151]. Market Presence and Operations - The company has expanded its business scope to cover over 70 cities across 18 provinces in China, enhancing its market presence and influence[35]. - The company has been recognized as one of the "Top Ten Influential Enterprises in Sanitation" for three consecutive years, reflecting its strong market position[35]. - The environmental sanitation industry is projected to reach a total market size of 314.4 billion yuan per year by 2020, presenting substantial growth opportunities for the company[34]. - The company is actively involved in drafting industry standards and regulations, indicating its leadership role in the environmental sanitation sector[27]. Risk Management - The company has identified potential risk factors and corresponding countermeasures in its operational analysis section[6]. - The company anticipates potential risks related to industry policy changes, which could affect the environmental sanitation management sector[81]. - Labor cost pressures are a concern due to the labor-intensive nature of the industry, but the company is optimizing management and introducing automation to mitigate these risks[84]. Corporate Governance and Compliance - The company has not engaged in any securities or derivative investments during the reporting period[65][66]. - The company has not experienced any significant changes in the feasibility of its investment projects during the reporting period[71]. - The company has included all subsidiaries in the consolidated financial statements as of June 30, 2020[182]. - The financial report was approved by the board of directors on August 27, 2020[182]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,887[125]. - The largest shareholder, Guo Beihua, holds 37.71% of the shares, totaling 154,116,379 shares[125]. - The total number of shares issued is 408,660,000, with 89.99% being restricted shares[123]. - The company does not have any preferred shares or convertible bonds in the reporting period[130][133].

Financial Performance - The company's operating revenue for Q1 2020 was CNY 665,672,740.44, representing a 40.37% increase compared to CNY 474,212,747.08 in the same period last year[8] - Net profit attributable to shareholders reached CNY 86,714,886.71, a significant increase of 184.84% from CNY 30,443,401.30 year-on-year[8] - Basic and diluted earnings per share rose to CNY 0.21, up 162.50% from CNY 0.08 in the same quarter last year[8] - Net profit for Q1 2020 was CNY 98.32 million, representing a 144.36% increase from CNY 40.27 million in Q1 2019[35] - The total profit for the first quarter was CNY 42,462,949.10, a significant increase from CNY 13,584,904.28 in the previous period, representing a growth of approximately 213.5%[38] - The net profit for the first quarter reached CNY 39,270,559.41, compared to CNY 14,270,322.53 in the same period last year, marking an increase of about 175.1%[38] Cash Flow - The net cash flow from operating activities improved to CNY 32,751,317.41, a 143.84% increase from a negative CNY 74,713,683.35 in the previous year[8] - Operating cash flow for the first quarter was CNY 32,751,317.41, a turnaround from a negative cash flow of CNY -74,713,683.35 in the previous year[39] - The company’s cash inflow from operating activities was CNY 589,883,232.12, compared to CNY 360,766,779.12 in the previous year, showing an increase of approximately 63.6%[39] - The total cash outflow from investing activities was CNY 115,123,193.15, compared to CNY 319,103,076.79 in the previous period, indicating a reduction of about 64.0%[41] - The net cash flow from financing activities was CNY 153,597,222.89, a decrease from CNY 242,508,144.04 in the same period last year[41] - The company’s cash flow from investment activities showed a net outflow of CNY -115,051,914.15, compared to CNY -302,835,038.47 in the previous year, indicating an improvement in cash management[41] Assets and Liabilities - Total assets increased by 8.38% to CNY 3,551,447,632.51 compared to CNY 3,276,870,221.16 at the end of the previous year[8] - The company's current assets totaled CNY 1,636,580,925.57 as of March 31, 2020, compared to CNY 1,426,980,362.97 at the end of 2019, indicating an increase of about 14.69%[25][26] - Total liabilities as of March 31, 2020, were CNY 2,185,089,983.29, up from CNY 2,012,296,895.53, which is an increase of about 8.59%[27][28] - The company's equity attributable to shareholders reached CNY 1,142,719,977.78, compared to CNY 1,056,005,091.07 at the end of 2019, showing an increase of approximately 8.19%[28] - Total liabilities as of March 31, 2020, were CNY 1.13 billion, compared to CNY 1.04 billion at the end of 2019, reflecting a growth of 8.66%[32] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 22,349, with the top ten shareholders holding a combined 84.59% of the shares[11] Government Support and Other Income - Other income surged by 4977.55% primarily due to VAT exemptions during the COVID-19 pandemic[15] - The company received government subsidies, contributing to a 3766.01% increase in non-operating income compared to the previous year[15] Borrowings and Debt Management - Short-term borrowings increased by 39.51% due to business needs, while long-term payables decreased by 33.34% as a result of repaying finance lease liabilities[15] - Long-term borrowings decreased to CNY 1.02 million from CNY 3.81 million at the end of 2019, indicating a reduction in long-term debt[32] - Short-term borrowings increased significantly to CNY 636,142,225.83 from CNY 455,979,481.19, representing a rise of about 39.5%[26][27] Accounting Standards and Auditing - The company began implementing the new revenue and lease accounting standards in 2020, which did not affect the initial financial statements for the year[50] - The first quarter report for 2020 was not audited[51] Miscellaneous - The company reported no significant non-operating fund occupation by controlling shareholders or related parties during the reporting period[21] - There were no securities investments, entrusted financial management, or derivative investments reported during the period[17][18][19] - The company has not engaged in any share buybacks or significant external guarantees during the reporting period[20]

Financial Performance - The company's operating revenue for 2019 was ¥2,195,309,980.94, representing a 39.30% increase compared to ¥1,575,903,222.85 in 2018[6]. - The net profit attributable to shareholders for 2019 was ¥131,342,269.51, a 27.94% increase from ¥102,658,328.75 in 2018[6]. - The net profit after deducting non-recurring gains and losses was ¥124,456,242.23, up 21.97% from ¥102,035,690.01 in 2018[6]. - The company's total revenue for 2019 was 1,099,999,999.99 CNY, representing a year-on-year increase of 20.62% compared to 2018[63]. - The total operating revenue for 2019 was approximately 2.195 billion yuan, representing a year-on-year increase of 39.30% from 1.576 billion yuan in 2018[51]. - The environmental sanitation management segment contributed 2.190 billion yuan, accounting for 99.74% of total revenue, with a year-on-year growth of 39.54%[51]. - The company's gross profit margin for the environmental sanitation management sector was 18.44%, slightly increasing from the previous year[53]. - The company's gross profit margin for the environmental sanitation management segment was 32.49% in 2019, compared to 34.02% in 2018, indicating a slight decline[56]. Cash Flow and Dividends - The company plans to distribute a cash dividend of 0.34 CNY per 10 shares to all shareholders, based on a total of 408,660,000 shares[4]. - In 2019, the company distributed a cash dividend of 0.34 CNY per 10 shares, totaling 13,894,440 CNY, which is 10.58% of the net profit attributable to the parent company[110]. - The total distributable profit for 2019 was 224,755,559.19 CNY, with the cash dividend accounting for 100% of the profit distribution[107]. - The company has committed to maintaining a minimum cash dividend ratio of 20% during its growth phase[109]. - The operating cash inflow for 2019 was 2,003,796,506.45 CNY, up 20.62% from 1,661,232,948.84 CNY in 2018[63]. - The net cash flow from operating activities decreased by 29.24% to 147,383,239.30 CNY, primarily due to a high recovery of bid deposits in the previous year[63]. Business Operations and Strategy - The company has established a comprehensive urban public environmental management service system, focusing on urban sanitation and waste management[25]. - The company has expanded its service offerings to include a comprehensive environmental service system, covering urban sanitation, pollution prevention, and public facility management[35]. - The company operates over 300 projects, leveraging more than a decade of experience in environmental sanitation management[38]. - The company has established a dual-driven development strategy focusing on "Urban Stewardship + Environmental Innovation Technology" to enhance its service offerings[37]. - The company is actively involved in drafting industry standards and regulations related to urban sanitation and waste management[26]. - The company is focusing on integrated urban management projects, which include a wider range of services beyond traditional sanitation operations[83]. - The company plans to continue expanding its urban sanitation integration business and innovate in environmental protection technology to enhance its market position[44]. Market Position and Recognition - The company has been recognized as one of the "Top Ten Influential Enterprises in Sanitation" for three consecutive years, ranking second in 2019[35]. - The environmental sanitation management industry is projected to reach a total market space of 314.4 billion yuan per year by 2020[34]. - The market share concentration in the environmental sanitation industry is gradually increasing, with the top ten companies accounting for approximately 60% of the total contract amount[82]. Assets and Liabilities - The total assets at the end of 2019 were ¥3,276,870,221.16, a 64.09% increase from ¥1,996,972,130.82 at the end of 2018[6]. - The net assets attributable to shareholders at the end of 2019 were ¥1,056,005,091.07, reflecting a 41.71% increase from ¥745,198,318.60 at the end of 2018[6]. - The company's asset-liability ratio decreased, indicating a reduction in financial risk following the IPO[167]. - The total amount of external guarantees approved by the company during the reporting period was 0[141]. - The company has no outstanding external guarantees at the end of the reporting period[141]. Employee and Social Responsibility - In 2019, the company added 16,317 new jobs, increasing total employment to over 40,000, representing a growth of 52.75% year-on-year[157]. - The company launched the "Ten Thousand Mile Cleaning Action" public welfare initiative, involving 600 employees in community service activities[154]. - The company has actively participated in poverty alleviation efforts, providing employment opportunities through various projects, including the integrated sanitation PPP project[158]. - The company adheres to labor laws and regulations, ensuring fair treatment and timely payment of wages to all employees[153]. Governance and Compliance - The company has appointed Huaxing Accounting Firm as the new auditor for the 2019 fiscal year, replacing Guangdong Zhengzhong Zhujiang Accounting Firm, to ensure audit objectivity and independence[125]. - The company has not experienced any significant accounting errors that require retrospective restatement during the reporting period[123]. - The company has fulfilled its commitments to small and medium shareholders as per the established agreements[115]. - The company has established a clear framework for managing share transfers to ensure compliance with legal and regulatory requirements[114]. Risks and Challenges - The company faces risks including policy changes that could impact the sanitation management industry, potentially slowing growth[92]. - Increased competition in the sanitation management sector poses a risk as new entrants join the market[93]. - Rising labor costs due to business expansion may affect profitability, despite measures to enhance mechanization and automation[94]. - The complexity of management may increase as the company scales, necessitating higher management standards[96].