Financial Performance - The company's revenue for Q1 2021 was ¥154,742,384.68, representing a 48.47% increase compared to ¥104,223,637.23 in the same period last year[8] - Net profit attributable to shareholders was ¥31,016,490.80, up 45.58% from ¥21,305,036.31 year-over-year[8] - The net profit after deducting non-recurring gains and losses was ¥28,462,015.34, reflecting a significant increase of 64.94% compared to ¥17,255,719.01 in the previous year[8] - Basic earnings per share increased by 9.09% to ¥0.36 from ¥0.33 year-over-year[8] - Total operating revenue for Q1 2021 reached ¥154,742,384.68, a 48.4% increase from ¥104,223,637.23 in the same period last year[40] - Net profit for Q1 2021 was ¥37,056,315.52, representing a 30.7% increase compared to ¥28,367,788.33 in Q1 2020[42] - The total profit before tax was ¥43,451,659.88, up from ¥33,374,306.75 in Q1 2020, reflecting a growth of 30.9%[42] - The total comprehensive income for the first quarter of 2021 was CNY 11,298,007.76, compared to CNY 8,687,539.67 in the same period last year, representing an increase of approximately 30%[50] Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥38,995,255.31, a decline of 192.83% from ¥42,009,203.15 in the same period last year[8] - Cash inflow from operating activities was CNY 123,079,175.37, slightly down from CNY 126,254,290.94 in the previous year, indicating a decrease of about 2%[49] - The company's total cash outflow for operating activities was CNY 162,074,430.68, significantly higher than CNY 84,245,087.79 in the previous year, reflecting increased operational expenses[50] - Cash and cash equivalents decreased by 55.02% to ¥398,393,928.76 due to the purchase of financial products[16] - Cash and cash equivalents at the end of the period were CNY 373,186,293.35, down from CNY 44,134,915.32 at the end of the previous year[51] - The company reported a cash outflow from financing activities of CNY 51,244,700.44, compared to CNY 30,015,413.04 in the previous year, reflecting increased financing costs[51] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,969,281,928.01, a decrease of 3.82% from ¥2,047,450,024.45 at the end of the previous year[8] - Current assets decreased from CNY 1,774,175,520.48 to CNY 1,679,234,184.04, a decline of approximately 5.34%[32] - Total liabilities decreased from CNY 503,028,365.12 to CNY 387,803,953.16, a decline of about 23%[34] - The company reported a total liability of ¥374,018,765.63, down from ¥497,010,387.29 in the previous period[41] - Non-current assets increased from CNY 273,274,503.97 to CNY 290,047,743.97, an increase of approximately 6.3%[33] - The total assets decreased from CNY 2,047,450,024.45 to CNY 1,969,281,928.01, a decline of about 3.83%[33] Shareholder Information - The total number of shareholders at the end of the reporting period was 17,633[12] - The net assets attributable to shareholders increased by 1.66% to ¥1,510,964,374.18 from ¥1,486,235,271.27 at the end of the previous year[8] - The total equity attributable to shareholders rose from CNY 1,486,235,271.27 to CNY 1,510,964,374.18, an increase of about 1.66%[35] Expenses and Investments - Total operating costs amounted to ¥113,644,830.05, up 50.5% from ¥75,443,768.85 year-over-year[41] - Research and development expenses rose by 102.35% to ¥6,719,430.37, reflecting increased investment in R&D projects[16] - Research and development expenses for Q1 2021 were ¥6,719,430.37, a 102.0% increase from ¥3,320,731.04 in the same period last year[41] - Sales expenses surged by 282.43% to ¥5,662,467.50, driven by increased revenue and related maintenance costs[16] - The company reported a significant increase of 1010.22% in credit impairment losses to ¥4,803,451.08, due to a decrease in the scale of accounts receivable[16] Financing Activities - Short-term borrowings decreased by 100% to ¥0.00 as the company repaid its short-term loans[16] - Long-term borrowings also decreased by 100% to ¥0.00 due to repayment of long-term loans[16] - The company’s short-term borrowings were reduced to zero from CNY 28,040,938.33, indicating a shift in financing strategy[34] Government Support - The company received government subsidies amounting to ¥2,863,032.10 during the reporting period[9] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[41]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2020, representing a year-on-year increase of 15%[12] - The net profit attributable to shareholders was RMB 200 million, with a profit margin of 16.67%[12] - The company's operating revenue for 2020 was CNY 767,544,119.40, representing a 1.10% increase from CNY 759,157,287.51 in 2019[19] - The net profit attributable to shareholders for 2020 was CNY 154,060,545.17, a decrease of 9.53% compared to CNY 170,292,796.12 in 2019[19] - The net cash flow from operating activities increased by 57.52% to CNY 93,472,614.98 in 2020, up from CNY 59,341,267.83 in 2019[19] - The total assets at the end of 2020 were CNY 2,047,450,024.45, an increase of 84.83% from CNY 1,107,750,568.15 at the end of 2019[19] - The net assets attributable to shareholders increased by 158.77% to CNY 1,486,235,271.27 at the end of 2020, compared to CNY 574,347,484.39 at the end of 2019[19] - The basic earnings per share for 2020 were CNY 2.37, down 9.54% from CNY 2.62 in 2019[19] - The company reported a total of CNY 10,603,242.00 in government subsidies for 2020, down from CNY 21,742,774.26 in 2019[24] - The weighted average return on equity decreased to 24.19% in 2020, down from 34.81% in 2019, a decline of 10.62 percentage points[19] Dividend Policy - The company plans to distribute a cash dividend of RMB 5 per 10 shares, totaling RMB 43.34 million based on the total share capital of 86,670,000 shares as of December 31, 2020[5] - The company’s cash dividend distribution plan for 2018 included a cash dividend of RMB 3.00 per 10 shares, totaling RMB 19.5 million[118] - The cash dividend per 10 shares for 2020 was RMB 5.00, compared to RMB 3.00 per 10 shares in 2019[120] - The cash dividend amount for 2019 was RMB 19,500,000, representing 11.45% of the net profit attributable to ordinary shareholders[121] - The company did not propose any cash dividend distribution for the year 2020 despite having positive distributable profits[122] - The total distributable profit for 2020 was RMB 330,016,308.03, with cash dividends accounting for 100% of the profit distribution[122] - The company has a cash dividend policy that mandates a minimum of 10% of distributable profits to be distributed as cash dividends annually, contingent on profitability and cash flow[115] Market Expansion and Strategy - The company aims to expand its market presence by increasing its production capacity by 20% in the next fiscal year[12] - The company expects a revenue growth of 10-15% for the upcoming fiscal year, driven by increased demand in the non-electric industry[12] - The company plans to expand its market presence in cement, papermaking, and industrial silicon sectors while maintaining its traditional strengths in coking and steel industries[38] - The company is considering strategic acquisitions to enhance its service offerings, with a budget of 300 million RMB allocated for potential deals[130] - The company plans to enhance its marketing team and optimize its marketing layout to expand its traditional business market and develop new business areas, particularly in carbon reduction[100] Research and Development - The R&D expenditure for new technologies and products reached RMB 150 million, accounting for 12.5% of total revenue[12] - The company is investing 100 million RMB in R&D for new technologies aimed at enhancing environmental sustainability[131] - The company holds 110 relevant patents and has developed over 10 process routes for low-emission technologies[42] - The company applied for 34 patents in 2020, including 8 invention patents and 26 utility model patents[50] - The company has established a long-term partnership with Beijing University of Technology for research and development in environmental engineering[53] Environmental Commitment - The company is focusing on developing advanced flue gas treatment technologies to meet stricter environmental regulations[12] - The company is committed to reducing carbon emissions by 30% over the next five years as part of its sustainability strategy[131] - The company has implemented an environmental protection system and achieved ISO 14001:2015 certification, ensuring compliance with relevant laws and regulations[184] - The company has a pollution control capacity for spray painting waste gas of 8,000 m³/h, with good operational performance[184] - The company has a dust removal efficiency of 99.2% for its shot blasting waste gas treatment system[184] Operational Efficiency - The company has successfully completed the acquisition of a smaller competitor, which is expected to contribute an additional RMB 300 million in revenue annually[12] - The company’s production department achieved an output exceeding 10,000 tons, an increase of 28% from 2019[51] - The company’s management has optimized internal processes, completing 17 acceptance projects and 32 ongoing projects in 2020[51] - The company will ensure orderly progress in fundraising project construction to enhance its technological R&D and innovation capabilities, thereby expanding its overall scale[103] - The company intends to improve management levels and strengthen cost control to enhance overall competitiveness[134] Risks and Challenges - The company faces risks from policy changes that could adversely affect its business in the pollution control industry, particularly if environmental policies weaken[105] - The company is exposed to intensified market competition as the environmental protection industry grows, necessitating a strong competitive advantage in technology and management[107] - The company is at risk of accounts receivable collection issues as its business scales, which could negatively impact its financial status[109] - The company acknowledges external risks that may impact future profits despite the implementation of risk management measures[136] Corporate Governance - The company has established a comprehensive corporate governance structure to protect shareholder rights and ensure fair information disclosure[173] - The company maintains transparency regarding shareholder relationships and voting rights[200] - The actual controller of the company has pledged not to interfere with management activities or infringe on company interests[138] - The company has committed to compensating investors for losses incurred due to any false statements or omissions in the prospectus[134] Shareholder Structure - The total number of common shareholders at the end of the reporting period was 26,723, while the total number of preferred shareholders was 21,291[198] - The largest shareholder, Zhu Qingya, holds 17.59% of the shares, amounting to 15,246,344 shares, with no changes during the reporting period[199] - The company does not have a controlling shareholder, as no single shareholder holds more than 30% of the voting rights[200] - The shareholder structure indicates a lack of significant influence from any single shareholder on corporate decisions[200]