Financial Performance - The company's operating revenue for 2021 was ¥1,338,118,782.03, representing an increase of 8.42% compared to ¥1,234,195,158.08 in 2020[28]. - The net profit attributable to shareholders for 2021 was ¥273,350,617.52, a 2.02% increase from ¥267,944,049.05 in 2020[28]. - The net cash flow from operating activities for 2021 was ¥618,831,419.00, reflecting a growth of 9.34% compared to ¥565,986,846.01 in 2020[28]. - The basic earnings per share for 2021 was ¥0.45, down 6.25% from ¥0.48 in 2020[30]. - The total assets at the end of 2021 were ¥4,422,313,815.12, an increase of 8.67% from ¥4,069,505,348.55 at the end of 2020[30]. - The net assets attributable to shareholders at the end of 2021 were ¥2,239,270,668.62, a significant increase of 29.40% from ¥1,730,446,184.82 at the end of 2020[30]. - The company achieved a total operating revenue of CNY 1,338,118,782.03 in 2021, representing an increase of 8.42% year-on-year[61]. - The net profit attributable to the parent company was CNY 26,779.05 million, up 2.16% compared to the previous year[60]. - The sales volume of tap water reached 38,024.16 million cubic meters, an increase of 5.77% year-on-year[60]. - The revenue from the water supply business was CNY 845,926,542.35, accounting for 63.22% of total revenue, with a year-on-year growth of 5.31%[64]. - The revenue from waste incineration power generation projects was CNY 413,455,170.23, representing 30.90% of total revenue, with a year-on-year increase of 7.25%[64]. Operational Highlights - The company reported a quarterly operating revenue of ¥359,029,206.53 in Q4 2021, showing a consistent growth trend throughout the year[33]. - The net profit attributable to shareholders in Q3 2021 was ¥88,760,549.60, indicating strong performance in that quarter[33]. - The company holds a 30-year exclusive operating right for water supply in Shunde District, which began on January 1, 2016, and will end on December 31, 2045[49]. - The company's waste incineration power generation project is designed to process 3,000 tons of household waste per day, along with 400 tons of sludge and 300 tons of kitchen waste[50]. - The company’s water supply and waste incineration businesses are in a mature and growth phase respectively, with stable demand and no significant cyclical fluctuations[48]. - The company’s water supply and waste incineration services hold a dominant market position in Shunde District, with limited growth potential in the region[52]. Research and Development - Research and development expenses for waste incineration power generation projects amounted to CNY 1,140.52 million, leading to the authorization of 4 new patents[60]. - The company's R&D investment amounted to ¥11,405,168.50 in 2021, representing 0.85% of operating revenue, a significant increase from 0% in 2020[83]. - The number of R&D personnel increased to 60 in 2021, with a 100% change from 2020, accounting for 4.26% of the total workforce[83]. - Research and development investments increased by 30%, focusing on innovative materials and sustainable practices[176]. Cash Flow and Investments - Operating cash inflow totaled ¥1,449,104,581.78 in 2021, a year-on-year increase of 10.92%[85]. - Operating cash outflow was ¥830,273,162.78, reflecting a 12.13% increase compared to 2020[85]. - Investment cash outflow surged by 167.69% to ¥749,333,319.96, primarily due to increased payments for fixed assets and other long-term assets[88]. - Financing cash inflow increased by 56.03% to ¥538,320,000.00, attributed to the funds raised from the initial public offering[88]. - The company raised a total of ¥31,381.82 million through its initial public offering, with ¥2,953.8 million utilized so far[104]. - Unused raised funds amount to ¥28,784.4 million, primarily held in dedicated accounts for cash management[104]. Corporate Governance - The company has established a comprehensive service capability in public utilities, including water services, solid waste treatment, and environmental consulting[56]. - The company has a well-defined corporate governance structure, including a shareholders' meeting, board of directors, and supervisory board, ensuring effective internal controls[143]. - The company has established independent personnel and financial management systems, ensuring the independence of its staff and financial operations[143]. - The company held five temporary shareholder meetings in 2021, with investor participation rates ranging from 86.76% to 100%[147][150]. - The board of directors had a total of 12 meetings, with attendance rates varying among members, indicating active participation in governance[194]. Future Outlook and Strategy - The company aims to become a leading urban environmental service provider in China, focusing on resource integration and ecological solutions for urban upgrades[121]. - The company plans to diversify its business by leveraging investment and acquisitions, enhancing its integrated capabilities in investment, research, construction, and operation[121]. - The company is committed to enhancing its corporate governance and has made changes to its board structure to improve decision-making processes[158]. - The company is actively pursuing mergers and acquisitions to strengthen its market position and diversify its product offerings[162]. - The company provided guidance for the next fiscal year, projecting a revenue growth of 25% and aiming for 1.875 billion RMB[168]. Risks and Challenges - The company faces risks related to government price controls on water supply, which may limit profitability and growth potential[124]. - The company is exposed to operational risks if it fails to renew its operating licenses or if there are changes in policies affecting its business[125]. - The company’s waste-to-energy project has been included in the national renewable energy subsidy list, but it will lose central government subsidies after 15 years, which may affect future profitability[133]. - The company’s operations are subject to strict environmental regulations, and any increase in environmental standards may require additional investments in facilities, impacting profitability[132].

广东顺控发展股份有限公司 2021 年第三季度报告 1 证券代码：003039 证券简称：顺控发展 公告编号：2021-079 广东顺控发展股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准 确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带 的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声 明：保证季度报告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | |------------------------------------------------------|------------------|-------------------------|--------------------------|---- ...

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 624,599,829.72, representing a 13.07% increase compared to CNY 552,384,078.81 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was CNY 110,030,457.84, up 13.27% from CNY 97,137,810.06 year-on-year[21]. - The net profit after deducting non-recurring gains and losses was CNY 106,848,647.20, reflecting a 14.03% increase from CNY 93,705,808.25 in the previous year[21]. - The net cash flow from operating activities was CNY 260,513,077.50, which is a 13.21% increase compared to CNY 230,112,474.69 in the same period last year[21]. - Basic earnings per share rose to CNY 0.19, an increase of 11.76% from CNY 0.17 in the same period last year[21]. - The total revenue for the first half of 2021 was 4,581,000,000 yuan, reflecting a year-on-year decrease[162]. - The total comprehensive income for the first half of 2021 was CNY 161,182,932.20, compared to CNY 141,936,345.35 in the same period of 2020[141]. - The company reported a significant increase in long-term investments, with long-term equity investments rising to CNY 3,001,486.52 from CNY 3,000,000.00[131]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,384,398,334.03, an increase of 7.74% from CNY 4,069,505,348.55 at the end of the previous year[21]. - Total current assets increased to CNY 1,112,503,163.68 from CNY 975,687,961.47 as of December 31, 2020, representing a growth of approximately 14.0%[131]. - Total liabilities decreased to CNY 1,750,268,748.16 from CNY 1,808,141,296.30, representing a reduction of approximately 3.2%[132]. - The total owner's equity at the end of the reporting period was 10,696 million yuan, showing a significant increase compared to the previous period[157]. - The total assets at the end of the reporting period amounted to RMB 1,081,613,700, with a decrease in net assets of RMB 63,884,653[165]. Revenue Sources - Revenue from water supply and sales amounted to ¥390,301,850.09, accounting for 62.49% of total revenue, with a year-on-year growth of 9.65%[40]. - Revenue from waste incineration power generation projects was ¥210,067,922.75, contributing 33.63% to total revenue, reflecting a year-on-year increase of 15.49%[40]. - The company's main business includes water supply and waste incineration power generation, with a 30-year franchise for water supply in Shunde District, effective from January 1, 2016, to December 31, 2045[29]. Costs and Expenses - Operating costs increased by 9.87% to ¥328,106,419.69 from ¥298,626,125.98 in the previous year[36]. - Research and development expenses amounted to ¥3,651,131.78, indicating new project expenditures during the reporting period[37]. - The company’s financial expenses decreased by 25.12% to ¥14,450,699.02, attributed to a reduction in borrowing scale[36]. Cash Flow - The cash flow from investing activities showed a significant decline, with a net outflow of ¥435,191,257.46, an increase of 383.15% compared to the previous year[37]. - The net cash flow from investment activities was negative at -¥241,341,009.31, worsening from -¥9,578,875.35 in the previous half-year[152]. - The overall cash position improved with a net increase of ¥66,137,567.70, contrasting with a decrease of -¥271,040,698.90 in the previous half-year[152]. Shareholder Information - The controlling shareholder, Shun Control Group, holds over 50% of the company's shares, which poses risks of decisions that may not align with minority shareholders' interests[63]. - The largest shareholder, Guangdong Shunde Holdings Group Co., Ltd., holds 79.06% of the shares, totaling 488,203,155 shares[116]. - The proportion of state-owned shares decreased from 94.03% to 84.59% after the issuance of new shares[113]. Regulatory and Operational Risks - The company faces risks from potential delays and uncertainties in government price adjustments for water supply, which could negatively impact financial performance[53]. - The company is subject to regulatory risks related to changes in water resource fees and industry standards, which could affect operational costs and profitability[58]. - The company has established a comprehensive water quality control management system to ensure compliance with national standards, mitigating risks associated with water quality issues[56]. Corporate Governance and Compliance - The financial report for the first half of 2021 has not been audited[128]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[76]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[81]. Community Engagement and Social Responsibility - The company mobilized 270 volunteers for COVID-19 prevention efforts, contributing over 1,600 service hours[76]. - The company raised nearly 30,000 yuan for poverty alleviation and purchased agricultural products worth approximately 850,000 yuan to support local industries[77]. Future Plans and Strategic Initiatives - The company aims to expand its services beyond water supply and waste incineration to become a comprehensive urban environmental service provider[34]. - The company plans to continue expanding its market presence and invest in new product development to drive future growth[156]. - The company has initiated new projects in waste incineration and water supply, aiming for further market expansion and technological advancements[40].

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%[6]. - The net profit attributable to shareholders was RMB 250 million, an increase of 20% compared to the previous year[6]. - The company's operating revenue for 2020 was ¥1,234,195,158.08, representing a 4.05% increase from ¥1,186,126,266.06 in 2019[25]. - The net profit attributable to shareholders for 2020 was ¥267,944,049.05, which is a 13.68% increase compared to ¥235,703,368.19 in 2019[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥262,132,402.89, up 15.57% from ¥226,817,025.15 in 2019[25]. - The company reported a basic earnings per share of ¥0.480 for 2020, which is a 14.29% increase from ¥0.420 in 2019[25]. - Total operating revenue for 2020 was ¥1,234,195,158.08, representing a year-on-year increase of 4.05% compared to ¥1,186,126,266.06 in 2019[56]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 262.13 million yuan, up 15.57% year-on-year[51]. Dividend Policy - The company plans to distribute a cash dividend of RMB 1.24 per 10 shares, totaling approximately RMB 76.5 million[6]. - The company plans to distribute cash dividends of 76,572,322.52 yuan for the year 2020, which represents 28.58% of the net profit attributable to ordinary shareholders[113]. - The cash dividend per 10 shares for 2020 is set at 1.24 yuan (including tax), with a total share capital base of 617,518,730 shares[114]. - The company has established a cash dividend policy that mandates a minimum of 20% of the distributable profit to be distributed as cash dividends each year from 2021 to 2023[109]. - The company has experienced a significant increase in cash dividends over the past three years, with 2018, 2019, and 2020 dividends amounting to 84,149,106.74 yuan, 63,884,653.95 yuan, and 76,572,322.52 yuan respectively[113]. Market Expansion and Strategy - The company has set a revenue target of RMB 1.5 billion for 2021, reflecting a growth expectation of 25%[6]. - The company is expanding its market presence by entering two new provinces in 2021, aiming for a 15% market share in those regions[6]. - The company is exploring potential mergers and acquisitions to enhance its service capabilities and market reach[6]. - The company plans to enhance its water supply capabilities by upgrading facilities and expanding its market share through acquisitions and mergers in the Shunde region[91]. - The company aims to improve operational efficiency by implementing smart water management systems and enhancing information management[92]. Operational Efficiency and Technology - New product development includes the launch of a smart water management system, expected to enhance operational efficiency by 30%[6]. - Investment in technology upgrades is projected to be around RMB 100 million, focusing on digital transformation initiatives[6]. - The company completed the upgrade of disinfection technology from liquid chlorine to sodium hypochlorite, reducing safety risks[52]. - The company improved the efficiency of its waste-to-energy project, increasing power generation per ton of waste[52]. Customer and User Growth - User data indicates a growth in customer base by 10%, reaching a total of 1.5 million users by the end of 2020[6]. - The company implemented "contactless services" during the pandemic, benefiting over one million users[52]. Environmental and Regulatory Compliance - The company has established a comprehensive water quality control management system to ensure compliance with national standards, but unforeseen events could still pose risks to water safety[98]. - The company has established an emergency response plan for environmental incidents, which has been filed with the relevant environmental authorities[168]. - The company has implemented a self-monitoring plan for pollutant emissions and publicly disclosed the results[168]. - The company has passed environmental impact assessments and received approvals from environmental protection departments[168]. Risks and Challenges - The company has identified potential risks including regulatory changes and market competition, with strategies in place to mitigate these risks[6]. - The company faces risks related to government-controlled water pricing, which may limit profitability and growth potential in its water supply business[92]. - The company faces significant risks related to the expiration of franchise agreements, which could adversely affect its ongoing operations if renewal conditions are not met or if there are unforeseen policy changes[94]. - Regulatory changes in the water supply industry may introduce uncertainties that could impact the company's operational development[99]. - Changes in water resource fee policies could adversely affect the company's financial performance due to potential delays in implementing price adjustments[99]. Shareholder and Governance Structure - The company has established a governance structure to protect minority shareholders' interests, despite the controlling shareholder holding over 50% of the shares[103]. - The company has committed to ensuring that its cash dividend policy aligns with legal and regulatory requirements, providing transparency and protection for minority shareholders[110]. - The company has fulfilled its commitment regarding the lock-up period for shareholders, which lasts for 36 months from the date of the initial public offering[117]. - The company has made long-term commitments to compensate for any dilution of immediate returns due to the issuance of new shares[120]. Social Responsibility - The company actively participated in social responsibility initiatives, including providing 5,000 masks to support local pandemic prevention efforts[154]. - The company provided CNY 160,000 in funding for agricultural development projects in four poverty-stricken villages in Sichuan Province[158]. - A total of 229 registered impoverished individuals were lifted out of poverty through the company's targeted poverty alleviation efforts[159]. - The company is committed to ongoing poverty alleviation efforts, aligning with national and local government requirements[163].

Financial Performance - The company's operating revenue for Q1 2021 was CNY 300,045,910.65, representing a 16.79% increase compared to CNY 256,916,397.72 in the same period last year[9]. - Net profit attributable to shareholders was CNY 56,382,270.00, up 19.42% from CNY 47,213,356.28 year-on-year[9]. - The net profit after deducting non-recurring gains and losses was CNY 54,681,843.71, reflecting a 22.76% increase from CNY 44,542,847.75 in the previous year[9]. - Basic earnings per share were CNY 0.1015, up 19.41% from CNY 0.0850 in the previous year[9]. - Total operating revenue for the first quarter reached ¥300,045,910.65, an increase of approximately 16.7% compared to ¥256,916,397.72 in the same period last year[64]. - Total operating costs amounted to ¥201,051,132.76, up from ¥182,076,798.95, reflecting a year-over-year increase of about 10.3%[67]. - The total profit for the current period was ¥98,829,604.63, compared to ¥76,021,884.50 in the previous period, marking a 30.0% increase[74]. - The company's net cash flow from operating activities was ¥307,444,905.42, up from ¥252,426,465.35, representing a growth of 21.8%[82]. Cash Flow and Investments - The net cash flow from operating activities reached CNY 120,902,597.79, a significant increase of 90.72% compared to CNY 63,393,050.78 in the same period last year[9]. - Net cash flow from investing activities worsened by 172.95% to -¥223,446,987.65, primarily due to increased cash payments for fixed assets and intangible assets[23]. - Cash outflow from investing activities was ¥224,382,502.43, compared to ¥83,466,583.89 in the prior period, indicating increased investment in long-term assets[86]. - Total cash outflow for investment activities reached ¥116,665,267.06, significantly higher than ¥21,916,480.31, suggesting aggressive investment strategies[92]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,445,066,606.13, an increase of 9.23% from CNY 4,069,505,348.55 at the end of the previous year[9]. - The company's total liabilities decreased slightly to RMB 1,788,859,692.80 from RMB 1,808,141,296.30, reflecting a reduction of approximately 1.6%[52]. - Total assets as of March 31, 2021, were ¥2,240,129,898.02, up from ¥1,988,262,240.89 at the end of 2020, representing an increase of about 12.7%[62]. - Total liabilities decreased to ¥766,667,735.80 from ¥844,506,669.87, indicating a reduction of approximately 9.2%[62]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 58,145[13]. - The largest shareholder, Guangdong Shunde Holdings Group, held 79.06% of the shares, totaling 488,203,155 shares[13]. - Net assets attributable to shareholders increased by 21.39% to CNY 2,100,573,796.62 from CNY 1,730,446,184.82 at the end of the previous year[9]. Expenses and Taxation - Management expenses increased by 23.08% to ¥23,553,694.12, mainly due to costs related to the IPO and the cancellation of social security fee discounts[20]. - Financial expenses decreased by 31.77% to ¥7,394,896.73, attributed to reduced interest expenses from a smaller financing scale last year[20]. - Income tax expenses surged by 118.57% to ¥17,732,085.35, due to the transition of a subsidiary from tax exemption to reduced taxation and profit growth[20]. - The company reported a tax expense of ¥17,732,085.35, which is significantly higher than the previous period's ¥8,112,832.90, reflecting a 118.5% increase[74]. Other Information - The company reported a government subsidy of CNY 119,007.63 during the reporting period[9]. - The company raised a total of RMB 36,332 million from the public offering of 62 million shares at RMB 5.86 per share, with a net amount of RMB 31,381.82 million after deducting issuance costs[36]. - The first quarter report has not been audited[106]. - The company is subject to the new leasing standards effective from 2021[107].

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%[22]. - The net profit attributable to shareholders was RMB 250 million, which is a 10% increase compared to the previous year[22]. - The company's operating revenue for 2020 was ¥1,234,195,158.08, representing a 4.05% increase from ¥1,186,126,266.06 in 2019[25]. - The net profit attributable to shareholders for 2020 was ¥267,944,049.05, which is a 13.68% increase compared to ¥235,703,368.19 in 2019[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥262,132,402.89, up 15.57% from ¥226,817,025.15 in 2019[25]. - The basic earnings per share for 2020 was ¥0.480, reflecting a 14.29% increase from ¥0.420 in 2019[25]. - The company achieved operating revenue of 1,234.20 million yuan, an increase of 4.05% year-on-year[52]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 262.13 million yuan, up 15.57% year-on-year[52]. - The company reported a net cash flow from operating activities of ¥565,986,846.01 in 2020, a slight increase of 0.07% from ¥565,564,732.89 in 2019[25]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 1.24 per 10 shares, totaling approximately RMB 76.5 million[6]. - The company plans to distribute cash dividends of 76,572,322.52 yuan for the year 2020, which represents 28.58% of the net profit attributable to ordinary shareholders[120]. - In 2019, the cash dividend distributed was 63,884,653.95 yuan, accounting for 27.10% of the net profit attributable to ordinary shareholders[120]. - For 2018, the cash dividend was 84,149,106.74 yuan, which constituted 42.68% of the net profit attributable to ordinary shareholders[120]. - The company has a cash dividend policy that mandates at least 20% of the distributable profit to be allocated as cash dividends each year from 2021 to 2023[116]. Market Expansion and Strategy - The company has set a revenue target of RMB 1.5 billion for 2021, aiming for a growth rate of 25%[22]. - The company is expanding its market presence in the Guangdong province, targeting a 15% market share by 2023[22]. - A strategic acquisition of a local water supply company is in progress, which is projected to increase annual revenue by RMB 200 million[22]. - The company aims to strengthen its core water supply business while expanding its service offerings in waste management and environmental services, targeting both local and surrounding markets[93]. - The company plans to upgrade water supply facilities in the Shunde area, establishing a dual water source supply system to enhance service quality and reliability[96]. Operational Efficiency and Development - New product development includes the launch of a smart water management system, expected to enhance operational efficiency by 30%[22]. - The company is investing RMB 50 million in R&D for sustainable water treatment technologies in 2021[22]. - The company completed the upgrade of disinfection technology from liquid chlorine to sodium hypochlorite, reducing safety risks[53]. - The company improved the efficiency of its waste-to-energy project through technical upgrades, enhancing operational effectiveness[53]. - The company has implemented smart water management systems to improve operational efficiency and water quality in the Shunde region[97]. Environmental and Social Responsibility - The company actively participated in environmental protection and sustainable development initiatives, ensuring compliance with environmental regulations[161]. - The company provided CNY 370,000 in funding and material support for poverty alleviation efforts, helping 229 registered impoverished individuals to escape poverty[166]. - The company supported local education by providing CNY 10,000 to two impoverished students who were accepted into university[169]. - The company has a plan to continue its poverty alleviation efforts in alignment with national and local requirements[170]. - The company has complied with environmental impact assessment procedures and has received approval from environmental authorities[176]. Risks and Challenges - The management highlighted potential risks including regulatory changes and competition, with strategies in place to mitigate these risks[6]. - The company faces risks related to government price controls on water supply, which may limit profitability and growth potential[98]. - The company faces significant risks related to the expiration of franchise agreements, which could adversely affect its ongoing operations if renewal conditions are not met or if there are unpredictable policy changes[99]. - Regulatory changes in the water supply industry may introduce uncertainties that could impact the company's operations and financial performance[104]. - Changes in water resource fee policies could have short-term adverse effects on the company's financial status and operational results[104]. Shareholder Structure and Governance - The controlling shareholder, Shun Control Group, holds over 50% of the company's shares, which poses risks related to potential decisions that may not favor minority shareholders[108]. - The company has established a governance structure to protect the rights of shareholders, particularly minority shareholders[160]. - The company has a total of 10 major shareholders, with no significant changes in their holdings during the reporting period[198]. - The actual controller has not changed during the reporting period[200]. Financial Management and Capital Structure - The company acknowledges financial risks due to its capital-intensive water supply and waste incineration businesses, which require significant upfront investment and have long payback periods[108]. - The company is exploring diversified financing methods, including equity and bond financing, to meet its capital needs as it expands operations[108]. - The company plans to improve the overall efficiency of fund utilization and establish good relationships with banks to support its rapid development[108]. - The company has not engaged in any significant related party transactions during the reporting period[150].