Financial Performance - The company reported a profit distribution plan of 3.00 RMB per 10 shares (including tax) based on a total of 132,539,000 shares[5]. - The company's operating revenue for 2021 was CNY 933,358,395.55, representing a 21.60% increase compared to CNY 767,544,119.40 in 2020[20]. - The net profit attributable to shareholders for 2021 was CNY 162,439,655.03, a 5.44% increase from CNY 154,060,545.17 in 2020[20]. - The basic earnings per share for 2021 was CNY 1.25, down 47.26% from CNY 2.37 in 2020[20]. - Total assets at the end of 2021 were CNY 2,262,755,497.16, a 10.52% increase from CNY 2,047,450,024.45 at the end of 2020[20]. - The company achieved revenue of 933 million yuan in 2021, representing a year-on-year growth of 21.60%[48]. - The net profit attributable to shareholders was 162 million yuan, an increase of 5.44% compared to the previous year[48]. - The net assets attributable to shareholders reached 1.604 billion yuan, reflecting a year-on-year growth of 7.95%[48]. - The company reported a significant decline in the weighted average return on net assets, dropping to 10.60% in 2021 from 24.19% in 2020, a decrease of 13.59 percentage points[20]. Operational Highlights - The company operates in the environmental protection sector, focusing on flue gas treatment and emission reduction technologies[12]. - The company has subsidiaries including Beijing Fangxin and Anhui Fangxin, which contribute to its operational capabilities[12]. - The company has maintained its main business without changes since its listing, indicating stability in its operational focus[19]. - The company is positioned in the flue gas treatment industry, which is heavily influenced by national environmental policies, indicating a strong policy-driven market[29]. - The company has seen a surge in innovation and technological upgrades within the environmental protection industry, leading to the emergence of new business models such as digital and smart environmental protection[29]. - The company has established long-term cooperation with Beijing University of Technology for research and development in environmental engineering[44]. - The company has developed a high-activity calcium-based desulfurization process that can replace widely used sodium-based desulfurization agents, effectively reducing solid waste disposal difficulties and carbon emissions[33]. Research and Development - The company is committed to achieving ultra-low emissions standards in the coal-fired power industry, with specific limits for particulate matter, sulfur dioxide, and nitrogen oxides[13]. - The low-temperature SCR denitration catalyst technology has reached international advanced levels, with preparation technology being internationally leading and process technology domestically leading[31]. - The company has made significant progress in the R&D of low-temperature denitration catalysts, which have entered the industrial verification stage[33]. - The company is developing several new technologies, including SCR denitrification systems and dry desulfurization processes, to meet ultra-low emission standards[69]. - The company applied for a record 42 patents in 2021, including 13 invention patents and 29 utility model patents, enhancing its competitive edge in the market[51]. Market and Industry Trends - The market demand for flue gas treatment in non-electric industries is expected to continue growing, driven by carbon peak and carbon neutrality goals[29]. - The environmental protection industry revenue scale reached approximately CNY 2.2 trillion in 2021, with a projected compound growth rate of around 10% during the 14th Five-Year Plan period[96]. - The company plans to expand its market presence in industries such as paper, industrial silicon, and cement while also focusing on carbon capture business[34]. - The company focuses on the non-electric industry for flue gas governance, enhancing its market position in sectors like coking, steel, and building materials[46]. Risks and Challenges - The company faces various risks including policy changes, intensified market competition, and technological iteration risks[5]. - The company acknowledges the risk of accounts receivable collection as its business scale expands, which could affect its financial status[102]. - Increased competition in the environmental protection industry may adversely affect the company's business expansion and profitability[102]. - The company is exposed to risks from fluctuations in downstream industries, particularly in the coking and steel sectors, which could impact its performance[102]. Governance and Compliance - The company is committed to improving its governance structure and ensuring compliance with relevant laws and regulations[108]. - The company maintains transparent information disclosure practices to protect investors' rights and ensure fair access to information[110]. - The company has established a performance evaluation and incentive mechanism to create a fair and efficient work environment[109]. - The company has a complete and independent organizational structure, including a shareholders' meeting, board of directors, and necessary functional departments[112]. - The company has established a comprehensive corporate governance structure to protect shareholder rights and ensure fair information disclosure[165]. Employee and Management - The total number of employees at the end of the reporting period was 674, with 518 in the parent company and 156 in major subsidiaries[141]. - The company has established a comprehensive training system, conducting various training programs to enhance employee skills and capabilities[144]. - The company has a structured salary policy that includes basic salary, position salary, overtime pay, performance bonuses, and welfare allowances[142]. - The company has established a performance evaluation system for senior management, linking compensation to company performance to ensure long-term goals are met[154]. Environmental Responsibility - The company has implemented effective measures for pollution control, achieving a dust removal efficiency of 99.2% in its operations[162]. - The company has maintained compliance with environmental regulations, with no administrative penalties reported during the reporting period[162]. - The company has a wastewater treatment capacity of 5,000 m³/a, meeting national standards[162]. - The company has a solid waste recycling strategy, focusing on the recovery and sale of general solid waste[163]. - The company is committed to social responsibility, actively participating in community support and rural revitalization initiatives[171]. Future Outlook - The company provided guidance for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion RMB[122]. - New product launches are expected to contribute an additional 200 million RMB in revenue, with a focus on eco-friendly technologies[122]. - The company plans to enter two new international markets by the end of the fiscal year, aiming for a 15% contribution to overall revenue[122]. - The management team emphasized a commitment to sustainability, with initiatives projected to reduce carbon emissions by 30% over the next five years[122].

Financial Performance - The company's operating revenue for Q3 2021 was ¥168,699,547.11, a decrease of 21.44% compared to the same period last year[2] - The net profit attributable to shareholders for Q3 2021 was ¥43,813,865.73, down 28.23% year-on-year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥41,871,835.17, a decrease of 30.30% compared to the previous year[2] - The basic earnings per share for Q3 2021 was ¥0.34, reflecting a decline of 63.83% year-on-year[2] - Total operating revenue for the current period reached ¥595,341,310.14, an increase of 12.55% compared to ¥528,897,665.32 in the previous period[17] - Net profit for the current period was ¥140,414,661.74, an increase of 2.41% compared to ¥136,379,926.31 in the previous period[19] - Basic and diluted earnings per share were both ¥0.96, down from ¥1.83 in the previous period[19] Assets and Liabilities - The total assets at the end of Q3 2021 amounted to ¥2,167,212,989.52, an increase of 5.85% from the end of the previous year[2] - The total liabilities of the company as of September 30, 2021, were CNY 525,151,004.07, compared to CNY 503,028,365.12 at the end of 2020, reflecting a slight increase of approximately 4.4%[15] - The company's cash and cash equivalents decreased to CNY 471,357,764.34 from CNY 885,677,855.67 at the end of 2020, representing a decline of approximately 46.8%[13][15] - Accounts receivable increased significantly to CNY 423,686,923.35, up from CNY 273,873,839.63, marking a growth of about 55%[13][15] - The company's equity attributable to shareholders rose to CNY 1,563,195,898.69 from CNY 1,486,235,271.27, indicating an increase of about 5.2%[15] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥77,929,180.79, a decline of 221.14% compared to the same period last year[2] - Cash flow from operating activities showed a net outflow of ¥77,929,180.79, compared to a net inflow of ¥64,328,859.47 in the prior period[21] - Cash flow from investing activities resulted in a net outflow of ¥242,347,525.20, compared to a net outflow of ¥34,164,866.16 in the previous period[21] - Cash flow from financing activities also showed a net outflow of ¥71,374,480.44, worsening from a net outflow of ¥37,030,726.86 in the prior period[21] - The ending cash and cash equivalents balance was ¥448,296,829.59, down from ¥839,948,016.02 at the beginning of the period[21] Construction and Development - The company reported a significant increase in construction in progress, rising by 3798.00% due to the acceleration of project construction[6] - The company completed the registration of its subsidiary in Dalian on September 29, 2021, to enhance resource allocation and market development[11] - The company plans to leverage the Dalian Industrial Layout to enhance its human resources and promote the "Dalian University of Technology - Tongxing Environmental CCUS Joint R&D Center" project[11] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 17,200[9] - A stock incentive plan was approved on July 30, 2021, and the first grant registration was completed on September 17, 2021[11] Inventory and Assets Management - The company reported a significant increase in contract assets to CNY 188,377,560.68 from CNY 166,429,818.10, which is an increase of approximately 13.4%[13][15] - The company’s inventory increased to CNY 146,873,197.69 from CNY 138,709,055.06, reflecting a growth of about 5.3%[13][15] Audit Information - The company did not undergo an audit for the third quarter report[23]

Financial Performance - The company reported a revenue of RMB 1.2 billion for the first half of 2021, representing a year-on-year increase of 15%[19]. - The net profit attributable to shareholders was RMB 200 million, up 10% compared to the same period last year[19]. - The company's operating revenue for the reporting period was ¥426,641,763.03, representing a 35.81% increase compared to ¥314,154,520.01 in the same period last year[24]. - The net profit attributable to shareholders was ¥81,478,485.20, a 40.42% increase from ¥58,025,331.22 year-on-year[24]. - The company's revenue for the reporting period was ¥426,641,763.03, representing a year-on-year increase of 35.81% compared to ¥314,154,520.01 in the same period last year[44]. - The net profit for the first half of 2021 reached CNY 93,030,315.18, representing a growth of 33.5% from CNY 69,957,368.42 in the previous year[134]. - The company reported a total profit of CNY 107,950,935.96 for the first half of 2021, which is an increase of 30.9% compared to CNY 82,438,980.91 in the previous year[134]. Investment and Development - The company plans to invest RMB 300 million in new product development and technology research in the next fiscal year[19]. - Research and development investment rose to ¥19,403,191.35, up 31.07% from ¥14,803,463.93, driven by increased collaboration in industry-academia-research[44]. - The company has a strong focus on R&D for new technologies and products to enhance its service offerings in the flue gas treatment sector[34]. - The company has over 120 related patents and has developed more than 10 process routes for ultra-low emission technologies, providing comprehensive solutions from dust removal to desulfurization and denitrification[39]. Market Expansion - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by the end of 2022[19]. - User data indicates a 20% increase in customer base, reaching a total of 1.5 million users[19]. - The company has set a performance guidance for the second half of 2021, expecting a revenue growth of 12% to 18%[19]. Cash Flow and Financial Health - The net cash flow from operating activities was -¥67,692,996.61, a significant decrease of 229.80% compared to ¥52,150,940.21 in the previous year[24]. - The company's cash and cash equivalents decreased significantly to -¥478,662,409.28, a drop of 9,419.45% from -¥5,028,259.18, reflecting the overall impact of cash flow changes[44]. - The net cash flow from investing activities was -¥315,839,423.92, a drastic decrease of 1,312.61% from -¥22,358,578.31, attributed to increased purchases of structured deposits and fixed asset expenditures[44]. - The total cash flow for the period decreased by 537,338,266.03 CNY, contrasting with an increase of 1,716,045.60 CNY in the first half of 2020[144]. Risk Management - The company has identified potential risks related to regulatory changes and has outlined corresponding mitigation strategies[4]. - The company faces risks from policy changes, intensified market competition, and fluctuations in downstream industries[61][63]. - Measures to mitigate risks include increasing R&D investment and enhancing talent training[62]. Environmental Commitment - The company aims to achieve ultra-low emissions standards in its operations, aligning with national environmental regulations[19]. - The company provides comprehensive solutions for ultra-low emissions in non-electric industries, including steel, coking, building materials, papermaking, and waste incineration[31]. - The company has established an environmental protection system and measures, passing the ISO 14001:2015 certification[75]. - The company reported a waste gas treatment capacity of 8,000 m³/h for spray painting and drying processes, with a 99.2% dust removal efficiency[75]. Shareholder Information - The total number of shares increased from 86,670,000 to 130,005,000 due to a capital reserve conversion, with a ratio of 10 shares resulting in 5 new shares issued[103]. - The largest shareholder, Zhu Qingya, holds 17.59% of the total shares, amounting to 22,869,516 shares[108]. - The company has 18,752 common stock shareholders as of the report date[108]. - The total number of shares held by the top 10 shareholders accounts for a significant portion of the company's equity, with the top three alone holding over 39%[108]. Corporate Governance - There were changes in senior management, with a new CFO appointed on June 15, 2021[71]. - The company has not engaged in any share buybacks or significant mergers and acquisitions during the reporting period[105]. - The financial report for the first half of 2021 was not audited[122]. - The company has not experienced any changes in the scope of consolidation during the reporting period[166].

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]