Dividend Distribution - The company plans to distribute a cash dividend of 0.126 RMB per 10 shares to all shareholders, based on a total of 3,787,878,787 shares[3]. - The company proposed a cash dividend of 0.126 yuan per 10 shares for the 2021 fiscal year, totaling 47,727,272.72 yuan, which represents 100% of the distributable profit[186][187][190]. - The cash dividend policy complies with the company's articles of association and ensures reasonable returns for investors while considering sustainable development[186][187]. Financial Performance - The company's operating revenue for 2021 was ¥2,600,103,152.25, representing a 29.43% increase compared to ¥2,008,852,699.70 in 2020[12]. - The net profit attributable to shareholders for 2021 was ¥473,924,709.40, an 18.90% increase from ¥398,575,831.08 in 2020[12]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥458,019,831.25, up 29.27% from ¥354,309,682.16 in 2020[12]. - The company's total assets increased by 22.73% to ¥13,542,668,954.16 at the end of 2021, compared to ¥11,034,643,347.73 at the end of 2020[12]. - The net assets attributable to shareholders rose by 33.25% to ¥5,951,508,601.63 at the end of 2021, compared to ¥4,466,580,126.96 at the end of 2020[12]. - The company's total revenue for 2021 reached approximately ¥2.6 billion, representing a year-on-year increase of 29.43% compared to ¥2.01 billion in 2020[61]. - The total profit amounted to CNY 609.64 million, reflecting a growth of 28.76% compared to the previous year[41]. - The net profit attributable to shareholders was CNY 473.92 million, up by 18.90% year-on-year[41]. Operational Stability - There are no changes in the company's main business since its listing, indicating stability in operations[9]. - The company has not experienced any changes in its controlling shareholders, reflecting consistent ownership structure[9]. - The company has not reported any significant changes in its registered address or operational location, ensuring continuity in its business environment[6]. Governance and Compliance - The company emphasizes the importance of accurate financial reporting, with key executives affirming the completeness and truthfulness of the annual report[2]. - The company has engaged Tianzhi International Accounting Firm for auditing, ensuring compliance and transparency in financial practices[10]. - The company maintains a strong governance structure with a board of directors and supervisory board overseeing operations[2]. - The company has implemented a risk classification list and improved its internal control mechanisms to enhance compliance management[50]. - The internal control audit report confirmed that the company maintained effective financial reporting controls as of December 31, 2021[197]. Risk Management - The company has a comprehensive risk management strategy outlined in the management discussion section, addressing potential operational risks[2]. - The company is managing the risk of increasing accounts receivable due to delays in renewable energy subsidies, with plans to strengthen management and shorten recovery cycles[119]. - The company is addressing risks associated with contract energy management projects, which have long service periods and significant upfront investments, by focusing on high-quality clients[117]. Environmental Responsibility - The company is committed to environmental and social responsibility, as detailed in its annual report[5]. - The company is classified as a key pollutant discharge unit by the environmental protection department[199]. - Major pollutants include particulate matter, SO2, and NOx, with SO2 emissions totaling 7.529 tons, exceeding the standard by 106.22 tons[199]. - The company has implemented pollution control measures in accordance with environmental impact assessments, and the operation of related facilities has been satisfactory during the reporting period[200]. Revenue Sources and Business Segments - The company confirmed renewable energy subsidy income of CNY 549.63 million, accounting for 21.14% of total revenue during the reporting period[39]. - The company's industrial energy-saving service business achieved revenue of 999.77 million yuan, accounting for 38.45% of total revenue, with a year-on-year growth of 24.88%[44]. - The building energy-saving service business generated revenue of 634.78 million yuan, representing 24.41% of total revenue, with a year-on-year increase of 33.81%[45]. - The comprehensive resource utilization business reported revenue of 631.52 million yuan, a year-on-year growth of 73.62%, accounting for 24.29% of total revenue[47]. Future Outlook and Strategic Goals - The company aims to enhance its market competitiveness through innovation and efficient operational mechanisms, while actively participating in the "Double Hundred Action" initiated by the State-owned Assets Supervision and Administration Commission[57]. - The company has established a strategic goal to lead the comprehensive energy service industry, emphasizing high-quality development and innovation[105]. - The company has set a revenue target of 3.02 billion CNY and a net profit target of 600 million CNY for 2022, highlighting significant uncertainty in achieving these goals due to market conditions[108]. Human Resources and Management - The total number of employees at the end of the reporting period is 538, with 302 in the parent company and 236 in major subsidiaries[176]. - The professional composition includes 460 technical professionals, 57 management personnel, and 21 auxiliary staff[177]. - The company conducted 28 training sessions, training a total of 1,450 participants during the reporting period[183]. - The company has a remuneration management policy that aligns with government regulations regarding social insurance contributions[165]. Shareholder Engagement - The company held multiple shareholder meetings with participation rates of 100% for the first meeting and 76.09% for the second meeting, demonstrating strong shareholder engagement[138]. - The cash dividend distribution plan is subject to approval at the annual general meeting of shareholders[186][190].

Financial Performance - The company's operating revenue for the reporting period was CNY 1,077,997,238.46, representing a 29.46% increase compared to CNY 832,675,468.34 in the same period last year[13]. - The net profit attributable to shareholders was CNY 165,125,817.13, up 31.15% from CNY 125,902,441.42 year-on-year[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 158,849,391.25, reflecting a 30.82% increase from CNY 121,425,295.85 in the previous year[13]. - The total profit reached 207.0228 million yuan, up 46.99% year-on-year[21]. - The company reported a significant increase in cash and cash equivalents, with a net increase of ¥540,556,946.72, compared to a decrease of ¥181,565,214.50 in the previous year, marking a 397.72% change[33]. - The total comprehensive income for the period was CNY 188,749,976.39, reflecting the company's performance[117]. Revenue Breakdown - Industrial energy-saving services generated revenue of 452.4482 million yuan, a growth of 27.12% driven by increased photovoltaic project capacity[21]. - Building energy-saving services reported revenue of 234.1190 million yuan, up 23.18% due to an increase in completed energy-saving renovation projects[21]. - Urban lighting energy-saving services saw revenue of 63.8723 million yuan, a decrease of 14.28% attributed to the expiration of contracts on existing projects[21]. - Comprehensive resource utilization business revenue surged to 282.6496 million yuan, a significant increase of 75.52% due to improved project operation and output[22]. Cash Flow and Investments - The net cash flow from operating activities decreased by 32.77% to CNY 155,361,615.90, down from CNY 231,091,486.29 in the same period last year[13]. - The company raised a net amount of 1.044 billion yuan from its initial public offering, enhancing its capital strength[31]. - The net cash flow from financing activities was CNY 1,257,731,494.51, compared to CNY 462,778,678.53 in the first half of 2020, indicating an increase of approximately 171.5%[111]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 12,685,381,517.36, a 14.96% increase from CNY 11,034,643,347.73 at the end of the previous year[13]. - The net assets attributable to shareholders increased by 26.16% to CNY 5,635,111,381.01, compared to CNY 4,466,580,126.96 at the end of the previous year[13]. - Total liabilities reached CNY 6.60 billion, an increase from CNY 6.19 billion, indicating a rise of about 6.5%[99]. Shareholder Information - The total number of shares increased from 3,030,303,030 to 3,787,878,787 after the issuance of 757,575,757 new shares[82]. - The state-owned legal person held 2,150,303,030 shares, representing 56.77% of the total shares[80]. - Domestic private investors held 880,000,000 shares, accounting for 23.23% of the total shares[80]. Environmental and Social Responsibility - The company reported total emissions of 0.00041926 tons of particulate matter, 0.0000377 tons of sulfur dioxide, and 0.0038424 tons of nitrogen oxides from its energy station[58]. - The company has actively participated in social responsibility initiatives, contributing to green and low-carbon development efforts[63]. - All projects have obtained environmental impact assessment approvals and passed environmental protection acceptance inspections[61]. Corporate Governance - The company has maintained compliance with legal and regulatory requirements, ensuring transparent operations and protecting the rights of investors and creditors[64]. - There were no changes in the board of directors, supervisors, or senior management during the reporting period[56]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[64]. Future Outlook and Strategy - The company is focused on becoming a leading comprehensive energy service provider, aligning with national carbon neutrality goals[19]. - The company plans to continue expanding its energy-saving services and comprehensive resource utilization projects, which have shown significant growth in revenue and operational scale[37]. - The company aims to achieve over 1 trillion yuan in total output value for the energy-saving service industry by the end of the "14th Five-Year Plan" period[27].

Financial Performance - The company's operating revenue for Q1 2021 was ¥452,535,826.52, representing a 31.11% increase compared to ¥345,169,428.61 in the same period last year[3]. - Net profit attributable to shareholders was ¥74,418,618.54, an increase of 18.24% from ¥62,938,171.71 year-on-year[3]. - Basic earnings per share for the period were ¥0.0210, reflecting a slight increase of 0.96% from ¥0.0208 in the same period last year[3]. - The total comprehensive income for Q1 2021 was CNY 79,048,038.15, compared to CNY 64,182,417.99 in the previous year, indicating a growth of 23.1%[35]. - Net profit for Q1 2021 reached CNY 79,048,038.15, representing a 23.1% increase from CNY 64,182,417.99 in Q1 2020[35]. Cash Flow - The net cash flow from operating activities decreased significantly by 73.15%, amounting to ¥18,112,656.21 compared to ¥67,460,827.51 in the previous year[3]. - The company reported a significant increase in cash and cash equivalents, reaching approximately CNY 1,025.81 million as of March 31, 2021, compared to CNY 507.77 million at the end of 2020, reflecting a change of 102.02% due to the successful IPO in January 2021[11]. - The net cash flow from operating activities was -16,046,688.72 CNY, a decrease from 31,755,967.34 CNY in the previous period, indicating a significant decline in operational performance[42]. - Cash inflow from investment activities totaled 84,758,373.38 CNY, down from 182,436,702.55 CNY in the prior period, reflecting reduced investment returns[43]. - The total cash and cash equivalents at the end of the period reached 678,828,576.55 CNY, compared to 103,141,438.63 CNY in the previous period, indicating a substantial increase in liquidity[43]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥12,109,056,079.97, a 9.74% increase from ¥11,034,643,347.73 at the end of the previous year[3]. - Total liabilities amounted to CNY 6,192,208,892.07, a decrease of 1.13% from the previous period[47]. - Current liabilities decreased to CNY 2,570,997,244.30 from CNY 2,830,386,556.65, a reduction of approximately 9.1%[29]. - Owner's equity increased to CNY 5,961,686,904.02 from CNY 4,842,434,455.66, reflecting a growth of around 23.1%[30]. - The company reported a total asset value of 11,034,643,347.73 CNY, a slight decrease from 11,105,379,839.91 CNY, reflecting a minor contraction in asset base[46]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 316,084[7]. - The largest shareholder, China Southern Power Grid Co., Ltd., held 40.39% of the shares, amounting to 1,530,000,000 shares[7]. Investment and Projects - The total amount of committed investment projects is CNY 104,355.69 million, with a cumulative investment of CNY 53,942.74 million, representing a progress rate of 51.73%[18]. - The biomass gasification heating project has achieved a cumulative investment of CNY 1,698.07 million, with a progress rate of 78.51%[18]. - The company has adjusted the expected operational status dates for the distributed photovoltaic contract energy management project and urban lighting energy-saving service expansion project to December 31, 2021[20]. Financial Expenses - The company’s financial expenses rose by 56.46% to CNY 45.04 million, driven by an increase in borrowing activities during the reporting period[12]. - Interest expenses rose to ¥16,650,488.08, up from ¥11,986,395.98, marking an increase of 39.8%[37]. Research and Development - Research and development expenses for Q1 2021 were CNY 1,088,871.56, slightly down from CNY 1,113,000.00 in Q1 2020[34]. - Research and development expenses decreased to ¥546,307.15 from ¥1,113,000.00, reflecting a reduction of 50.9%[37]. Compliance and Governance - The company has no violations regarding external guarantees during the reporting period[23]. - The company has not engaged in any entrusted wealth management during the reporting period[23]. - The first quarter report was not audited[53].

Financial Performance - The company's operating revenue for 2020 was CNY 2,008,852,699.70, representing a year-over-year increase of 33.18% from CNY 1,508,400,089.52 in 2019[12]. - The net profit attributable to shareholders for 2020 was CNY 398,575,831.08, up 44.29% from CNY 276,230,848.54 in 2019[12]. - The net profit after deducting non-recurring gains and losses was CNY 354,309,682.16, reflecting a 52.96% increase compared to CNY 231,638,244.12 in 2019[12]. - The net cash flow from operating activities for 2020 was CNY 778,889,827.59, a significant increase of 72.91% from CNY 450,449,322.28 in 2019[12]. - The basic earnings per share for 2020 was CNY 0.13, which is a 44.44% increase from CNY 0.09 in 2019[13]. - The total assets at the end of 2020 were CNY 11,034,643,347.73, a 24.23% increase from CNY 8,882,260,320.19 at the end of 2019[13]. - The net assets attributable to shareholders at the end of 2020 were CNY 4,466,580,126.96, up 9.73% from CNY 4,070,376,380.16 at the end of 2019[13]. - The company achieved operating revenue of 2.009 billion yuan in 2020, representing a year-on-year growth of 33.18%[41]. - The total profit reached 473 million yuan, an increase of 46.57% compared to the previous year[41]. - The company reported a total revenue of 10 billion RMB for the fiscal year 2020, representing a year-over-year increase of 15%[181]. Shareholder Information - The company reported a total of 3,787,878,787 shares, with a cash dividend of 0.106 RMB per 10 shares (including tax) for all shareholders[2]. - The company plans to distribute a cash dividend of 0.106 yuan per 10 shares, totaling 40,151,515.14 yuan, which represents 10.07% of the net profit attributable to ordinary shareholders[110]. - The total distributable profit for the company as of December 31, 2020, was 306,725,021.95 yuan[111]. - The cash dividend amount for 2020 is the first distribution since 2018, where a cash dividend of 48,035,971.51 yuan was distributed[109]. - The company has a total of 3,030,303,030 shares, with state-owned legal entities holding 70.96% and other domestic investors holding 29.04%[162]. Business Operations - The company has not reported any changes in its main business since its listing, indicating stability in operations[9]. - The company operates 174 power generation projects with a total installed capacity of approximately 1,196.37 MW as of December 31, 2020, and has an additional 247.00 MW of projects under construction[25]. - The company has established a comprehensive energy-saving service system covering design, renovation, and service, positioning itself as a leading provider in the industry[28]. - The company has a dedicated investor relations team to manage communications with shareholders and stakeholders[7]. - The company has selected multiple media outlets for information disclosure, ensuring transparency in its operations[8]. Market and Industry Insights - The energy-saving service industry in China had a total output value of CNY 522.24 billion in 2019, with a year-on-year growth of 9.4%[26]. - The number of energy-saving service companies in China reached 6,547 in 2019, with a year-on-year increase of 1.7%[27]. - The energy-saving service industry is supported by national policies, with significant market opportunities due to the ongoing economic transformation and emphasis on green development[26]. - The company is positioned to benefit from favorable national policies promoting energy conservation and environmental protection, indicating a promising market outlook[38]. Strategic Initiatives - The company plans to enhance its core capabilities in customer service, business development, technology integration, capital operation, management control, and resource allocation to maintain its leading position in the energy-saving service industry[96]. - The company aims to leverage the growing market for energy-saving services, supported by national policies promoting energy efficiency and environmental protection[90]. - The company plans to deepen cooperation with high energy-consuming industries to enhance market share through energy-saving technologies such as photovoltaic and efficient energy stations[97]. - The company intends to expand its biomass comprehensive utilization projects in regions with high agricultural waste production and convenient logistics[97]. Risk Management - The company faces market risks due to increasing competition in the energy-saving service sector, necessitating timely adjustments to market strategies[102]. - The company is committed to developing high-quality projects and clients to mitigate risks associated with long-term contract energy management services[103]. - The company will closely monitor changes in renewable energy subsidy policies, which could impact the profitability of new photovoltaic projects[103]. Governance and Compliance - The company operates under the supervision of the State-owned Assets Supervision and Administration Commission of the State Council[4]. - The company has established a comprehensive internal control system and improved its governance structure to enhance management levels and protect shareholder rights[153]. - The company has complied with all commitments made to minority shareholders and has fulfilled its obligations on time[126]. - The company confirmed that there are no false records, misleading statements, or significant omissions in the prospectus for the initial public offering of shares[120]. Future Outlook - The company provided a future outlook, projecting a revenue growth of 20% for the next fiscal year, driven by new product launches and market expansion[183]. - The company aims to achieve a revenue of CNY 2.63 billion and a net profit of CNY 500 million for 2021[98]. - The company plans to enhance its digital transformation initiatives, investing 500 million yuan in IT infrastructure upgrades[187]. Employee and Management - The total remuneration for directors and senior management during the reporting period amounted to 12.52 million CNY[190]. - The company employed a total of 534 staff members, with 435 in professional technical roles and 76 in management roles[191][192]. - The company conducted 56 training sessions, with a total of 904 participants, emphasizing continuous employee development[195]. - The management team is focused on enhancing operational efficiency and exploring new business opportunities in the energy sector[179].