Financial Performance - The company's revenue for Q1 2022 was CNY 542,441,122.09, representing a 24.67% increase compared to CNY 435,115,104.13 in the same period last year[3]. - Net profit attributable to shareholders was CNY 16,262,002.80, a 4.33% increase from CNY 15,586,591.95 year-over-year[3]. - Net profit for the first quarter was CNY 7,002,106.63, a decrease of 37.5% from CNY 11,233,988.97 in the same period last year[24]. - The basic earnings per share for Q1 2022 was CNY 0.0205, up from CNY 0.0198 in the same period last year, indicating an increase of about 3.5%[25]. - The company reported a decrease in comprehensive income attributable to minority shareholders, which was -CNY 9,259,896.17, compared to -CNY 4,352,602.98 in Q1 2021[25]. Cash Flow - The net cash flow from operating activities was negative at CNY -156,791,398.00, worsening by 21.85% compared to CNY -128,676,317.04 in the previous year[3]. - The total cash inflow from operating activities was CNY 814,193,724.44, compared to CNY 654,195,031.16 in Q1 2021, reflecting a growth of approximately 24.4%[28]. - The cash inflow from financing activities totaled CNY 560,120,000.00, an increase from CNY 467,808,351.00 in Q1 2021, representing a growth of about 19.7%[29]. - The net cash flow from financing activities improved to CNY 143,764,365.85, compared to CNY 44,985,058.19 in the same period last year[29]. - The total cash and cash equivalents at the end of Q1 2022 was CNY 1,135,123,516.57, up from CNY 694,861,253.70 at the end of Q1 2021, indicating a significant increase of approximately 63.4%[29]. - The cash outflow from investing activities was CNY 27,501,689.21, down from CNY 58,137,831.82 in the previous year, indicating a reduction of approximately 52.8%[29]. Assets and Liabilities - Total assets increased by 1.88% to CNY 6,443,949,468.44 from CNY 6,324,984,404.84 at the end of the previous year[3]. - The company's total assets reached CNY 6,443,949,468.44, compared to CNY 6,324,984,404.84 at the beginning of the year, indicating a growth of 1.9%[21]. - Current assets totaled CNY 4,717,857,667.67, an increase of 2.0% from CNY 4,623,041,340.95 at the start of the year[19]. - The company's cash and cash equivalents decreased to CNY 1,335,684,702.81 from CNY 1,358,390,374.34, a decline of 1.7%[19]. - The total liabilities decreased to CNY 4,095,732,957.22 from CNY 4,274,204,072.73, a reduction of 4.2%[21]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 35,087, with the top shareholder holding 21.61% of the shares[10]. - The top ten shareholders hold a total of 181,318,818 shares, with the largest shareholder owning 181,318,818 shares[11]. - The company has a total of 3,986,800 shares held by a shareholder through margin trading accounts[11]. - The company repurchased and canceled 565,000 restricted shares from four departing incentive plan participants[17]. - The company plans to release 25% of the restricted shares held by executives annually at the beginning of each year based on the previous year's holdings[13]. Research and Development - Research and development expenses increased by 30.76% to CNY 8,325,900.37, up from CNY 6,367,307.69, indicating a focus on innovation[7]. - Research and development expenses for the quarter were CNY 8,325,900.37, up from CNY 6,367,307.69, representing a year-over-year increase of 30.7%[24]. Stock Issuance and Incentives - The company issued 58,593,750 shares at a price of RMB 5.12 per share, raising a total of RMB 300 million[16]. - The total number of restricted shares at the beginning of the period was 161,178,678, with 58,593,750 shares released during the period[14]. - The company’s stock incentive plan allows for a 25% release of restricted shares each year for four consecutive years[13]. - The company received approval from the China Securities Regulatory Commission for the issuance of shares to specific investors[16]. - The company’s stock is listed on the Shenzhen Stock Exchange as of March 8, 2022[17]. Other Financial Metrics - The company reported a significant increase in contract liabilities, which rose by 44.60% to CNY 261,611,591.00, reflecting higher prepayments received[7]. - The company reported a decrease in other income by 41.07% to CNY 3,394,418.54, attributed to a reduction in government subsidies received[7]. - The company reported an investment loss of CNY 310,653.30, an improvement compared to a loss of CNY 5,535,113.65 in the previous year[24]. - Total operating costs amounted to CNY 537,574,180.86, up from CNY 414,517,707.49, reflecting a year-over-year increase of 29.7%[23].

Financial Performance - The company reported a profit distribution plan of 1.20 CNY per 10 shares (including tax) based on a total of 859,669,647 shares[4]. - The company's operating revenue for 2021 reached ¥3,515,088,577.67, representing a 74.21% increase compared to ¥2,017,704,487.90 in 2020[18]. - Net profit attributable to shareholders was ¥135,300,594.61, a 36.98% increase from ¥98,772,055.03 in the previous year[18]. - The net cash flow from operating activities improved significantly to ¥170,703,086.95, compared to a negative cash flow of ¥266,461,616.46 in 2020, marking a 164.06% increase[18]. - Basic earnings per share rose to ¥0.1707, up 42.25% from ¥0.12 in 2020[18]. - Total assets increased by 14.87% to ¥6,324,984,404.84 at the end of 2021, compared to ¥5,506,071,992.39 at the end of 2020[18]. - The company achieved a weighted average return on equity of 8.08%, up from 6.44% in 2020[18]. - The company achieved operating revenue of 351.51 million yuan, a year-on-year increase of 74.21%[51]. - The net profit attributable to shareholders reached 13.53 million yuan, up 36.98% from the previous year[51]. - The net cash flow from operating activities was 17.07 million yuan, reflecting a significant increase of 164.06%[51]. - The company reported a total revenue of 3,515.09 million CNY in 2021, representing a growth of 74.21% compared to the previous year[70]. - The water-saving irrigation sector contributed ¥2,847,340,063.85, accounting for 81.00% of total revenue, with a year-on-year growth of 41.12%[70]. - The revenue from smart agricultural water project construction was ¥1,852,658,742.18, which is 52.71% of total revenue, showing a growth of 73.32% compared to the previous year[70]. - The company reported a significant increase in revenue from agricultural technology sales and services, which reached approximately ¥719.52 million, representing 26.69% of total operating costs[78]. - The company reported a total revenue of 201.478 million in 2021, showing a significant increase from 198.578 million in 2018, representing a growth of approximately 1.4%[145]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the year, representing a growth of 20% compared to the previous year[158]. Risk Management - The company does not face any significant adverse risk factors affecting its future business due to its operational and financial status[4]. - The company emphasizes the importance of risk awareness for investors regarding forward-looking statements in the annual report[4]. - The company has a comprehensive risk management strategy in place to address potential challenges in its business environment[4]. - The company has established a comprehensive internal control system to enhance risk management and ensure effective supervision of management[200]. Business Operations - The company is positioned in the rural water conservancy industry, focusing on efficient agricultural water conservation, rural sewage treatment, and safe water supply for farmers[29]. - The company has integrated various capabilities, including project diagnosis, planning, financing, design, construction, and operation, to provide comprehensive solutions in the agricultural water sector[38]. - The company operates under an EPC model, primarily serving government clients, ensuring reliable funding from national and local financial support[45]. - The company has established a complete and independent business system, ensuring no reliance on controlling shareholders or related parties[139]. - The company operates eight business segments, providing integrated solutions in agricultural efficient water-saving, rural sewage treatment, and safe drinking water for farmers[139]. Strategic Initiatives - The company anticipates further growth opportunities in the agricultural water-saving sector, supported by favorable government policies and increasing innovation capabilities[32]. - The company aims to achieve an effective irrigation area of 10 million acres by 2020, with an irrigation water utilization coefficient exceeding 0.55[39]. - By 2022, the company plans to reach an effective irrigation area of 10.4 million acres and improve the average quality of cultivated land by over 0.5 grades[40]. - The company is committed to building 8 million acres of high-standard farmland by 2020, ensuring a stable grain production capacity of 1 trillion jin[40]. - The company aims to achieve a rural sewage treatment rate of 60% by 2020[40]. - The company is focused on providing comprehensive solutions for agricultural, rural, and water resource issues, emphasizing smart agriculture and rural development[43]. - The company has successfully implemented the "Yuanmou Model" in water-saving agriculture, promoting it across multiple regions in China[46]. - The company is actively involved in government and social capital cooperation projects in the "three rural and three water" sectors, aiming to mitigate project risks through shared interests and collaboration[125]. - The company has identified 2022 as a critical year for implementing its "Six Five" strategic plan, focusing on profit and cash flow management[120]. Technological Innovation - The company has developed a smart water service system that integrates IoT and big data technologies to enhance agricultural modernization[49]. - The company is in the mass production phase of the water resource remote sensing terminal, aimed at improving irrigation water utilization efficiency and enhancing product competitiveness[85]. - The company has completed the design of the digital twin system framework, with ongoing research and development of digital twin technology, which is expected to enhance market expansion in the water conservancy and agriculture sectors[86]. - The company aims to enhance the automation of irrigation systems through the development of various intelligent products, contributing to the overall competitiveness in the irrigation automation market[85]. - The company has a strong focus on technological innovation, with key personnel holding significant awards and recognitions in the field of water-saving technology[149]. Governance and Compliance - The company has a governance structure that complies with relevant laws and regulations, with no unresolved governance issues or major loopholes[134]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with regulatory requirements[135]. - The company has implemented a transparent performance evaluation and incentive mechanism for its directors and senior management[135]. - The company has established independent financial decision-making capabilities, with all major financial activities based on shareholder and board resolutions[141]. - The company has a clear governance structure with defined roles for its board members, ensuring accountability and effective decision-making[164]. Employee Engagement and Development - The company has a training program that focuses on business skills, professional knowledge, and corporate culture to enhance employee capabilities[186]. - The total number of employees at the end of the reporting period is 2,780, with 1,653 being technical personnel[183]. - The total number of employees with a master's degree is 140, while those with a bachelor's degree number 1,330[184]. - The company has implemented a comprehensive performance evaluation system that includes multiple dimensions of performance assessment[185]. - The company has approved a stock incentive plan to promote sustainable development and align employee interests with shareholder value[193]. Market Expansion - The company is actively pursuing market expansion strategies, targeting new regions in Southeast Asia for its products[158]. - The company has established five regional headquarters to enhance nationwide business expansion and integration[53]. - The company plans to optimize market layout by focusing on strategic growth areas such as East China, Northwest China, and Xinjiang, leveraging its organizational capabilities to penetrate new markets[122]. - The company has successfully expanded its customer base by 15%, reaching a total of 500,000 active users[158]. Social Responsibility - The company has maintained a strong commitment to social responsibility, actively participating in poverty alleviation and environmental protection initiatives[138]. - The company actively engaged in social responsibility initiatives, enhancing its brand image and social influence, and was recognized with multiple awards[68].

Financial Performance - The company's revenue for Q3 2021 reached ¥667,404,012.54, representing a 79.01% increase year-over-year[3] - Net profit attributable to shareholders was ¥30,951,196.10, up 46.60% compared to the same period last year[3] - The net profit after deducting non-recurring gains and losses was ¥29,764,945.02, reflecting a 76.71% increase year-over-year[3] - The company's basic earnings per share for the period was ¥0.0388, an increase of 44.78% year-over-year[3] - The total profit for the period was ¥80,379,275.89, representing a 34% increase compared to the previous year, attributed to the rise in operating revenue.[8] - Net profit for the period was CNY 69,080,414.18, representing a 31.3% increase from CNY 52,612,285.88 in the same period last year[20] - Operating profit increased to CNY 82,100,980.73, up 25.8% from CNY 65,231,088.60 in the previous year[20] - Basic earnings per share improved to CNY 0.0787, compared to CNY 0.0612 in the previous year[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥5,584,370,418.08, a 1.42% increase from the end of the previous year[3] - The company's total assets reached ¥5,584,370,418.08, slightly up from ¥5,506,071,992.39, reflecting a growth of approximately 1.4%[17] - The total liabilities as of September 30, 2021, were ¥3,623,314,704.18, compared to ¥3,549,218,032.14 at the end of 2020, marking an increase of about 2.1%[18] - The company’s total liabilities increased significantly, with current liabilities rising by 167.44% to ¥49,527,730.20, primarily due to the increase in short-term tax payable.[8] - Long-term borrowings increased significantly to ¥583,640,355.43 from ¥249,255,100.69, representing a rise of about 133.4%[18] - The total equity attributable to shareholders decreased by 0.73% to ¥1,646,578,218.03 compared to the end of the previous year[3] - The total equity attributable to shareholders decreased to ¥1,646,578,218.03 from ¥1,658,679,590.05, indicating a decline of approximately 0.7%[18] Cash Flow - The cash flow from operating activities showed a net outflow of ¥392,499,660.62, a decline of 110.51% compared to the previous year[3] - The company's cash flow from operating activities showed a net outflow of ¥392,499,660.62, a decline of 110.51% year-on-year, primarily due to increased procurement.[8] - The company reported a net cash outflow from investing activities of ¥46,471,015.53, a 73.25% increase compared to the previous year, mainly due to reduced external investments.[8] - The net cash flow from investment activities was -46,471,015.53 CNY, a decrease from -173,723,241.89 CNY in the previous year[24] - The total cash inflow from financing activities was 1,215,343,860.00 CNY, compared to 1,445,886,125.00 CNY in the same period last year[24] - The net cash flow from financing activities was 321,713,296.07 CNY, down from 561,520,112.38 CNY year-over-year[24] - The cash and cash equivalents at the end of the period were 704,843,615.12 CNY, a decrease from 942,472,859.38 CNY at the end of the previous year[24] Research and Development - Research and development expenditures increased by 158.67% to ¥27,967,893.98, indicating a focus on innovation[7] - Research and development expenses increased by 71.86% to ¥19,905,529.27, indicating a significant growth in R&D investment during the period.[8] - Research and development expenses rose to CNY 19,905,529.27, an increase of 71.5% compared to CNY 11,582,267.08 in the prior period[19] Operational Highlights - The company's operating revenue for Q3 2021 reached ¥1,704,608,403.52, a 54.19% increase compared to the same period last year, primarily due to an increase in project bids and the acquisition of Beijing Huitu Technology Group Co., Ltd.[8] - Operating costs rose to ¥1,282,073,981.20, reflecting a 55.25% increase year-on-year, mainly driven by the increase in revenue.[8] - The total cost of operations was CNY 1,611,465,340.42, an increase of 54.7% from CNY 1,040,891,911.49 in the prior period[19] Market Strategy - The company plans to continue its market expansion and product development strategies, focusing on enhancing its competitive edge in the industry[15] Shareholder Information - The company has a total of 161,743,678 restricted shares, with 12,810,000 shares released during the current period, which is 8% of the total[14] Other Information - The report for the third quarter was not audited[30] - The company has implemented new leasing standards affecting the financial statements, requiring adjustments to the balance sheet[25]

Business Model and Strategy - The company reported a significant focus on government and social capital cooperation projects in the "three rural and three water" sectors, aiming to maximize shared interests and reduce project risks[4]. - The company plans to adopt a unique business model targeting non-government clients such as farm owners and agricultural groups, which may expose it to various risks related to macroeconomic factors and agricultural uncertainties[5]. - The company emphasizes the need for enhanced resource allocation across funding, talent, product supply, project planning, and management to support its expanding business model[5]. - The company is committed to environmental sustainability, expanding into rural wastewater treatment as part of its business diversification strategy[5]. - The company has established a competitive advantage in high-standard farmland construction and social capital investment in farmland operations, but faces increasing competition as more entities enter the agricultural investment and operation services sector[5]. - The company has pioneered the introduction of social capital investment in agricultural water management projects, exemplified by the successful Yunnan Luliang project[45]. - The company has expanded its service offerings in the "Three Rural and Three Water" sectors, enhancing its ability to secure large-scale orders through innovative models and comprehensive solutions[36]. Financial Performance - The company achieved operating revenue of CNY 1,037,204,390.98, representing a 41.56% increase compared to the same period last year[22]. - Net profit attributable to shareholders reached CNY 31,376,035.40, up 15.86% year-over-year[22]. - Cash flow from operating activities was negative at CNY -225,958,604.15, a decline of 103.15% compared to the previous year[22]. - The company reported a basic earnings per share of CNY 0.040, an increase of 17.65% from the previous year[22]. - The total assets at the end of the reporting period were CNY 5,480,613,480.21, a slight decrease of 0.46% from the end of the previous year[22]. - The operating cost increased by 43.72% to ¥787,780,452.08 from ¥548,122,033.92 in the previous year, attributed to higher sales[55]. - The company reported a decrease in income tax expenses by 19.19% to 4,316,937.70 CNY, reflecting a reduction in current income tax[56]. - The company reported a total of 18,194 million yuan in related transactions during the reporting period[117]. Research and Development - The company has a strong focus on research and development to adapt to the evolving agricultural landscape and enhance its service offerings[5]. - Research and development investment surged by 94.92% to 13,447,008.65 CNY, primarily due to increased personnel costs and R&D material expenses[56]. - The company holds 562 patents and software copyrights in the field of smart water management, indicating a robust focus on technological innovation[48]. - The company has over 500 patents and 50 research achievements, supporting its integrated solutions for modern agriculture[49]. - Investment in R&D has increased by 25%, focusing on sustainable water management solutions to meet growing market demands[138]. Market Expansion and Partnerships - The company launched a strategic partnership with Huawei to collaborate on smart water management and agricultural water-saving technologies[32]. - The company is focusing on digital transformation and has successfully launched its "No. 1 Project" to improve project management capabilities[31]. - The company is actively pursuing market expansion strategies, targeting new regions with a projected investment of 31,445 million in infrastructure projects[136]. - Recent acquisitions have strengthened the company's position in the market, with a focus on integrating innovative technologies into existing operations[135]. - The company has initiated several strategic partnerships aimed at enhancing its service offerings and expanding its market reach[136]. Social Responsibility and Compliance - The company has actively participated in social responsibility initiatives, including donations to rural education and water-saving facilities[103]. - The company donated over 15 million RMB worth of pandemic prevention materials to various regions and organizations[104]. - The company has maintained compliance with environmental protection laws and has not discharged any pollutants during the reporting period[102]. - The company has been recognized for its contributions to the fight against COVID-19, with its chairman receiving a national honor[104]. - The company has a long-term commitment to fulfilling its social responsibilities and supporting local communities[103]. Shareholder and Equity Information - The company will not distribute cash dividends, issue bonus shares, or increase capital through reserves[6]. - The company approved a stock incentive plan on May 14, 2021, to promote sustainable development and align interests with shareholders[95]. - A total of 12.81 million restricted stocks were granted on June 2, 2021, with 3.01 million shares issued through a private placement and 9.8 million shares repurchased from the secondary market[99]. - The company’s total share capital after the changes is 801,008,181 shares[146]. - The major shareholders include Wang Haoyu (23.19%, 185,748,831 shares) and Qiu Ling (22.64%, 181,318,818 shares) with a significant portion of shares pledged[157]. Risk Management - The company’s management acknowledges the importance of leadership and adaptability in navigating operational risks and changes in the external environment[5]. - The company is actively improving its internal risk control management system to mitigate potential project risks[85]. - The company faced project selection risks but has accumulated sufficient experience in government and social capital cooperation projects[84]. - The company is exploring opportunities for mergers and acquisitions to further consolidate its market presence and enhance operational capabilities[136]. Operational Efficiency - The company is focused on enhancing its technological capabilities in water management and irrigation systems[134]. - The company is committed to improving water efficiency in agriculture through innovative engineering solutions[134]. - Operational efficiency improvements are projected to reduce costs by 10% through the implementation of new technologies and streamlined processes[138].

Financial Performance - The company's operating revenue for 2020 was ¥2,017,704,487.90, a decrease of 6.84% compared to ¥2,165,853,141.43 in 2019[22]. - The net profit attributable to shareholders for 2020 was ¥98,772,055.03, down 23.68% from ¥129,426,255.34 in 2019[22]. - The net cash flow from operating activities was -¥266,461,616.46, representing a 47.02% increase in cash outflow compared to -¥181,236,154.18 in 2019[22]. - The total assets at the end of 2020 were ¥5,506,071,992.39, an increase of 40.64% from ¥3,915,134,142.66 at the end of 2019[22]. - The net assets attributable to shareholders increased by 12.53% to ¥1,658,679,590.05 at the end of 2020 from ¥1,473,996,382.67 at the end of 2019[22]. - The company reported a basic earnings per share of ¥0.12 for 2020, down 25.00% from ¥0.16 in 2019[22]. - The company achieved a net profit of RMB 199,496,943.77 for the year 2020, with a profit distribution plan proposing a cash dividend of RMB 1.00 per 10 shares, totaling RMB 78,756,068.70[134]. - The cash dividend distribution represents 100% of the total profit distribution amount for the year[132]. - The company has accumulated a total distributable profit of RMB 229,629,496.39 as of December 31, 2020, after accounting for the legal surplus reserve and previous dividends[134]. Business Strategy and Operations - The company aims to provide comprehensive service solutions across the entire agricultural value chain, focusing on smart agriculture and water management[32]. - The company has established a competitive advantage in high-standard farmland construction and social capital investment in farmland operations[7]. - The company is expanding its business into rural wastewater treatment, which may increase competition with traditional enterprises in this field[7]. - The company is adapting its business model to align with national agricultural development trends and international best practices[4]. - The company aims to capture market resources in the non-government sector, focusing on farm owners and agricultural groups[5]. - The company has established a comprehensive service model in the agricultural water-saving sector, integrating production, engineering design, construction, and operation management[34]. - The company has successfully introduced social capital investment in projects, exemplified by the Yunnan Luliang project, which has been replicated in multiple regions[35]. - The company is committed to maximizing shared benefits and risk-sharing in its cooperative projects with the government[4]. - The company is committed to technological innovation and expanding its market presence in the agricultural sector[32]. - The company is focusing on a "three-network" integration strategy (water network, information network, service network) to improve agricultural efficiency and rural water management[115]. Research and Development - The company has a strong focus on research and development to support its expanding operations[6]. - The company holds over 500 patents and has established multiple research and innovation platforms to support its technology development[48]. - The company's R&D investment in 2020 amounted to ¥57,989,000.11, representing 2.87% of total revenue, an increase from 2.29% in 2019[85]. - Research and development expenses increased by 18.82% to approximately ¥29.51 million in 2020[82]. - The company has expanded its R&D team to 59 personnel, representing 2.46% of the total workforce, up from 2.16% in 2019[85]. Market and Competition - The company faces risks related to project selection, particularly in government and social capital cooperation projects[4]. - The company has established a competitive advantage in high-standard farmland construction and is facing increased competition in the agricultural investment sector[126]. - The company is actively participating in government and social capital cooperation projects to mitigate project selection risks and enhance profitability[122]. - The company is addressing resource allocation risks by improving internal management systems and enhancing leadership capabilities[124]. Financial Management - The company has a strong capital coordination capability, being a pioneer in introducing social capital into agricultural water management projects[42]. - The company maintained good credit relationships with over 20 financial institutions, ensuring stable funding support for business operations[62]. - The total cash inflow from financing activities increased by 29.23% to ¥1,682,572,899.12, largely due to the issuance of convertible bonds[88]. - The company raised a total of ¥63,800,000 through the issuance of convertible bonds, with a net amount of ¥624,720,943.39 after deducting issuance costs[101]. - The company has confirmed that there are no violations in the management of raised funds and has fulfilled disclosure obligations regarding the use and progress of these funds[107]. Corporate Governance - The company has committed to fulfilling all promises made by actual controllers and shareholders during the reporting period[141]. - The actual controllers have pledged to bear the responsibility for any tax liabilities arising from the company's water-saving engineering business for the years 2006 and 2007[141]. - The company has established measures to ensure that all directors and senior management adhere to the commitments made regarding their shareholdings[142]. - The controlling shareholders have promised not to engage in any business activities that compete with the company or its subsidiaries, ensuring no conflicts of interest arise[144]. Environmental and Social Responsibility - The company is committed to addressing imbalances in agricultural development and water resource distribution, aligning with national rural revitalization strategies[115]. - The company has actively donated approximately 10 million yuan worth of epidemic prevention materials to over 160 units across 17 provinces[55]. - The company is recognized as a key enterprise supported by national industrial policies, highlighting its strategic importance in the rural water conservancy sector[184]. - The company has committed to environmental protection and has not been penalized for any violations, ensuring compliance with national regulations[184]. Future Outlook - Future plans include upgrading management systems to support rapid growth, emphasizing digital transformation as a key driver for business operations[116]. - The company plans to implement standardized project management to enhance project execution efficiency and brand image[120]. - The company is focusing on expanding its market presence through new projects and collaborations, including a 6,207.8 million CNY investment in agricultural development[181].

Financial Performance - The company's operating revenue for Q1 2021 was ¥435,115,104.13, representing a 127.07% increase compared to ¥191,623,140.79 in the same period last year[8] - Net profit attributable to shareholders was ¥15,586,591.95, a significant increase of 1,285.19% from ¥1,125,234.58 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥13,784,189.19, compared to a loss of ¥1,240,557.89 in the previous year, marking a 1,211.13% improvement[8] - The basic earnings per share rose to ¥0.0198, up 1,314.29% from ¥0.0014 in the same quarter last year[8] - The diluted earnings per share increased to ¥0.0233, reflecting a 1,564.29% rise from ¥0.0014 year-on-year[8] - The total operating revenue for the first quarter of 2021 was CNY 435,115,104.13, compared to CNY 191,623,140.79 in the previous period, indicating a significant increase[66] - Net profit for the first quarter reached CNY 11,233,988.97, compared to CNY 1,180,569.03 in the same period last year, representing a significant increase[68] Assets and Liabilities - The total assets at the end of the reporting period were ¥5,647,911,257.58, a 2.58% increase from ¥5,506,071,992.39 at the end of the previous year[8] - The net assets attributable to shareholders were ¥1,674,449,909.86, showing a 0.95% increase from ¥1,658,679,590.05 at the end of the previous year[8] - Long-term borrowings increased by 123.39% to ¥556,812,356.89, attributed to a rise in bank loans[18] - The total liabilities reached CNY 3,683,437,246.15, compared to CNY 3,549,218,032.14, marking an increase of about 3.78%[60] - Current liabilities decreased to CNY 2,409,202,989.68 from CNY 2,598,667,556.53, a reduction of about 7.29%[60] - Non-current liabilities increased to CNY 1,274,234,256.47 from CNY 950,550,475.61, indicating a rise of approximately 34.05%[60] Cash Flow - The company reported a net cash flow from operating activities of -¥128,676,317.04, which is a 156.05% decline compared to -¥50,166,597.93 in the same period last year[8] - Cash flow from operating activities was CNY 587,039,502.06, significantly higher than CNY 339,185,114.07 in the previous period[75] - The net cash flow from investment activities was -43,587,497.54 CNY, indicating a significant investment outflow compared to -62,950,444.37 CNY in the previous year[76] - Total cash inflow from financing activities was 467,808,351.00 CNY, while cash outflow was 422,823,292.81 CNY, resulting in a net cash flow of 44,985,058.19 CNY[77] Research and Development - The company reported a 143.06% increase in R&D expenses, totaling ¥6,367,307.69, reflecting increased investment in research and development[20] - Research and development expenses were CNY 6,367,307.69, an increase from CNY 2,619,683.01 in the previous period, indicating a focus on innovation[68] Contracts and Projects - The company signed significant contracts, including a PPP project in Wu Zhong City with an investment scale of ¥139,975,000, currently in progress[21] - The company won the contract for the Tianjin Jinghai District 2020 40 Villages Domestic Sewage Treatment Project with an investment scale of CNY 282.87 million, currently under execution[26] - The company secured the contract for the Changtu County New High-Standard Farmland Construction Project with an investment scale of CNY 165.19 million, currently under execution[26] - The company obtained the contract for the Lanzhou New Area Zhongchuan Park High-Standard Farmland Improvement Project with an investment scale of CNY 62.08 million, currently under execution[26] - The company achieved a contract for the 2021 High-Standard Farmland Construction Project in Bozhou City with an investment scale of CNY 299.32 million, currently under execution[27] Market Position and Strategy - The company has established a competitive advantage in high-standard farmland construction and social capital investment in farmland operations, with a focus on smart agriculture and farmland operation services[36] - The company is focused on expanding its market share by capitalizing on policy advantages and increasing its market development efforts[31] - The company has actively participated in government and social capital cooperation projects in the "Three Rural and Three Water" sectors, accumulating sufficient project experience to mitigate risks[31] Risk Management - The company emphasizes risk control by selecting financially sound and reputable partners for its projects, aiming to minimize operational risks[33] - The company is committed to strengthening its internal risk management systems and enhancing its decision-making processes to adapt to rapid changes in the external environment[34] Equity and Financing - The company plans to issue a total of CNY 638 million in convertible bonds, with a maturity of 6 years, to support its operations and expansion efforts[39] - The convertible bonds "Dayu Convertible Bonds" were issued on August 19, 2020, with a total amount not exceeding RMB 500 million[41] - The company repurchased 9,800,000 shares at a total cost of RMB 49,980,000, representing 1.23% of the total share capital, at a price of RMB 5.10 per share[42] Compliance and Governance - The company has disclosed that it will adhere to the latest regulatory requirements from the China Securities Regulatory Commission regarding compensation measures[43] - The company has not reported any violations of commitments by its directors and senior management[43]

Financial Performance - The company's operating revenue for 2020 was CNY 2,017,704,487.90, a decrease of 6.84% compared to CNY 2,165,853,141.43 in 2019[22]. - The net profit attributable to shareholders for 2020 was CNY 98,772,055.03, down 23.68% from CNY 129,426,255.34 in 2019[22]. - The net cash flow from operating activities was negative CNY 266,461,616.46, worsening by 47.02% compared to negative CNY 181,236,154.18 in 2019[22]. - The total assets at the end of 2020 increased by 40.64% to CNY 5,506,071,992.39 from CNY 3,915,134,142.66 at the end of 2019[22]. - The net assets attributable to shareholders rose by 12.53% to CNY 1,658,679,590.05 at the end of 2020, compared to CNY 1,473,996,382.67 at the end of 2019[22]. - The company reported a basic earnings per share of CNY 0.12 for 2020, a decrease of 25.00% from CNY 0.16 in 2019[22]. - The company achieved a net profit of RMB 199,496,943.77 for the year 2020, with a profit distribution plan proposing a cash dividend of RMB 1.00 per 10 shares, totaling RMB 78,756,068.70[134]. - The cash dividend distribution represents 100% of the total profit distribution amount for the year[132]. - The company has accumulated a total distributable profit of RMB 229,629,496.39 as of December 31, 2020, after accounting for the legal surplus reserve and previous dividends[134]. Market Position and Strategy - The company has established a competitive advantage in high-standard farmland construction and social capital investment in farmland operations, with a focus on smart agriculture and farmland operation services[7]. - The company aims to expand its market presence by targeting non-government clients such as farm owners and agricultural groups, adapting successful international business models[5]. - The company is experiencing increased competition in the agricultural investment and operation service sector due to the implementation of the rural revitalization strategy[7]. - The company aims to provide comprehensive service solutions across the entire agricultural value chain, focusing on smart agriculture and water management[32]. - The company is committed to enhancing its research and development capabilities to support new product and technology innovations[6]. - The company is committed to technological innovation and service model innovation to enhance its market position in the agricultural sector[32]. - The company has established a comprehensive design service for the entire water conservancy industry chain, with three design institutes and various professional qualifications[36]. - The company has pioneered the introduction of social capital investment in agricultural water conservancy projects, exemplified by the successful Yunnan Luliang project[35]. - The company is a leader in the agricultural efficient water-saving sector, with a strong brand and industry recognition[41]. Investment and Financial Management - The company successfully issued RMB 638 million in convertible bonds in July 2020, laying a solid foundation for long-term development[62]. - The company has maintained good credit relationships with over 20 financial institutions, ensuring stable funding support for business operations[62]. - The total cash inflow from financing activities increased by 29.23% to ¥1,682,572,899.12, mainly due to the issuance of convertible bonds[88]. - The company has a total of ¥337,230,645.22 in construction projects, showing a 6.12% increase compared to the previous period[93]. - The company has a total capital reserve of RMB 231,657,390.76 as of the end of 2020[134]. - The company has established a special account for the management of raised funds from the convertible bond issuance[185]. - The company has confirmed that it will not invest in any businesses that compete with its own operations[144]. Research and Development - The company holds over 500 patents and has established multiple research and innovation platforms to support its technology development[48]. - Research and development expenses increased by 18.82% to ¥29,508,332.16 in 2020, reflecting the company's commitment to innovation[82]. - The company's R&D investment in 2020 amounted to ¥57,989,000.11, representing 2.87% of total revenue, an increase from 2.29% in 2019[85]. - The number of R&D personnel increased to 59, accounting for 2.46% of the total workforce, up from 2.16% in 2019[85]. - The company completed the trial of the Multi-Channel Water and Fertilizer Integration Intelligent Machine project, which is expected to enhance fertilizer utilization and protect soil health[83]. Risk Management - The company faces risks related to project selection, particularly in government and social capital cooperation projects, which may have large investments and long cooperation periods[4]. - The company is strengthening risk management by enhancing contract reviews and legal support to ensure compliance and minimize operational risks[121]. - The company is addressing resource allocation risks by improving internal coordination and management systems to support its expanding operations[124]. - The company is actively participating in government and social capital cooperation projects to mitigate project selection risks and ensure profitability[122]. Corporate Governance - The company has a comprehensive governance structure in place, ensuring accountability and transparency in its operations[3]. - The company has maintained a commitment to transparency and compliance with corporate governance standards throughout the reporting period[141]. - The company has not reported any violations of commitments by its major shareholders or management regarding share transfers and competitive activities[142]. - The company's board of directors has confirmed that the raised funds have been used in accordance with relevant regulations and guidelines[107]. Social Responsibility and Environmental Initiatives - The company is actively involved in rural wastewater treatment, extending its main business into the energy-saving and environmental protection sector[7]. - The company has increased its social welfare expenditures significantly due to its response to the COVID-19 pandemic[40]. - The company emphasizes safety and environmental protection, investing continuously in health and safety measures across its operations[184]. - The company is recognized as a key enterprise supported by national industrial policies, highlighting its strategic importance in the rural water conservancy sector[184]. - The company is actively involved in various environmental protection initiatives, ensuring that its operations do not classify it as a major polluter[184]. Future Outlook - The company’s future outlook remains positive, with expectations for continued growth in the water-saving technology sector[162]. - The company plans to continue leveraging its competitive advantages in agricultural operations and sewage treatment to enhance its market position[127]. - The company’s future strategy includes a focus on innovation and comprehensive management upgrades to support sustainable growth[116]. - The company aims to enhance its core competitiveness by increasing R&D investment and collaborating with national and provincial research institutions[117]. - In 2021, the company focused on new business directions such as land transfer and agricultural integration to improve market share and explore new growth points[118].

Financial Performance - Net profit attributable to shareholders increased by 26.97% to CNY 21,113,198.55 for the current period[8] - Operating income decreased by 20.93% to CNY 372,836,399.69 compared to the same period last year[8] - Basic earnings per share increased by 28.23% to CNY 0.0268 for the current period[8] - The company achieved operating revenue of CNY 1,105.54 million in the first three quarters of 2020, a decrease of 15.89% compared to the same period last year[16] - The net profit attributable to shareholders for the first three quarters was CNY 48.19 million, down 42.53% year-on-year[16] - In Q3 2020, the net profit attributable to shareholders was CNY 21.11 million, an increase of 26.97% year-on-year[16] - Total operating revenue for Q3 2020 was CNY 372.84 million, a decrease of 21% compared to CNY 471.51 million in Q3 2019[40] - Net profit for Q3 2020 was CNY 20.94 million, compared to CNY 22.02 million in Q3 2019, reflecting a decrease of 4.9%[41] - The net profit for the current period is CNY 99,229,781.98, down from CNY 109,916,707.60, reflecting a decline of 6.19%[51] - The total comprehensive income attributable to the parent company is CNY 48,194,892.51, down from CNY 83,855,606.42, a decline of 42.55%[51] Assets and Liabilities - Total assets increased by 18.44% to CNY 4,637,173,256.41 compared to the end of the previous year[8] - The company's total assets reached CNY 4,637,173,256.41, an increase from CNY 3,915,134,142.66 at the end of 2019, representing a growth of approximately 18.4%[32] - Total liabilities reached CNY 2.51 billion, up from CNY 2.11 billion at the end of 2019, indicating a growth of 19%[38] - The total current liabilities were CNY 1,920,929,293.65, compared to CNY 1,731,000,000.00 at the end of 2019, indicating an increase of about 11%[33] - The company reported a total equity of approximately CNY 1.15 billion, with retained earnings of CNY 128.84 million[66] Cash Flow - Net cash flow from operating activities was negative at CNY -75,225,972.71, a decrease of 142.70%[8] - Cash flow from operating activities shows a net outflow of CNY 186,450,871.48, worsening from a net outflow of CNY 94,883,933.58 in the previous period[54] - The company generated CNY 1,331,306,292.62 in cash inflows from operating activities, slightly up from CNY 1,298,958,684.52 in the previous period[54] - The total cash inflow from financing activities was ¥1,311,286,125.00, an increase of 23.4% from ¥1,063,042,800.00 in the previous year[58] - The net cash flow from operating activities for Q3 2020 was ¥62,511,030.04, a decrease of 35.4% compared to ¥96,774,257.54 in Q3 2019[58] Shareholder Information - The total number of shareholders at the end of the reporting period was 38,867[11] - The top two shareholders, Wang Haoyu and Qiu Ling, hold 23.30% and 22.74% of shares respectively, with significant portions pledged[11] - The company did not engage in any repurchase transactions during the reporting period[12] - The company repurchased 9,800,000 shares at a total cost of 49,980,000 RMB, with an average price of 5.10 RMB per share, representing 1.23% of the total share capital[20] Investments and Expenditures - Long-term equity investments grew by 59.44% from the beginning of the year, totaling CNY 283.54 million, due to increased external investments[17] - Development expenditures surged by 168.01% from the beginning of the year, amounting to CNY 13.92 million, driven by increased R&D project investments[17] - The company reported a 703.04% increase in investment income, totaling CNY 1.95 million, attributed to higher investment returns[17] - Investment losses amounted to CNY -9,533,596.89, a stark contrast to the investment income of CNY 149,657,156.00 reported in the same quarter last year[43] Compliance and Commitments - The controlling shareholders committed to not engaging in any business activities that compete with the company's main operations[21] - The company has not identified any violations of commitments made by its controlling shareholders regarding share transfer limits during their tenure[21] - The company will continue to monitor and ensure compliance with all regulatory commitments to protect investor interests[21] - The company has made commitments to comply with the latest regulations from the China Securities Regulatory Commission regarding compensation measures[21] Research and Development - Research and development expenses for Q3 2020 were CNY 4.68 million, an increase of 74% compared to CNY 2.69 million in Q3 2019[41] - The company reported a decrease in research and development expenses to CNY 2,013,745.80 from CNY 3,008,162.48, a reduction of 33.06%[50] - The company has committed to ensuring that any new technology or products developed will be prioritized for the issuer and its subsidiaries[23]

Business Expansion and Strategy - The company reported a significant expansion in its business model, focusing on non-government clients such as farm owners and agricultural groups, aiming to capture market resources in the future farm service sector [5]. - The company plans to enhance its competitive advantage in high-standard farmland construction and social capital investment in farmland operations, despite facing increased competition from traditional enterprises in the agricultural investment sector [8]. - The company aims to leverage its nationwide layout and full industry chain advantages to increase market share in the agricultural water conservancy sector [34]. - The company has established a leading position in the domestic rural water conservancy industry, particularly in the efficient water-saving sector, with a strong brand and technical capabilities [35]. - The company aims to improve rural living conditions and food security by focusing on agricultural technology and services, aligning with national rural revitalization strategies [37]. - The company plans to expand its market share by enhancing proactive marketing strategies and leveraging government resources for project development [38]. - The company is focusing on resource integration across its eight business segments to strengthen its competitive advantage in the agricultural water sector [40]. - The company has developed innovative operational models such as the "Yuanmou Model" and "EPC+O Model," which have proven effective in promoting local economic development and increasing farmer incomes [39]. - The company has established three regional headquarters and enhanced its business model, focusing on EPC+O and EPC+M models to improve future performance [54]. - The company is expanding its marketing network across various regions, including Southeast China, despite delays caused by the pandemic [81]. Financial Performance - The company reported a revenue of ¥732,702,118.95, a decrease of 13.07% compared to the same period last year [21]. - Net profit attributable to shareholders was ¥27,081,693.96, down 59.72% year-over-year [21]. - The net profit after deducting non-recurring gains and losses was ¥21,531,428.53, reflecting a decline of 64.91% compared to the previous year [21]. - Basic and diluted earnings per share decreased to ¥0.034, down 62.22% from ¥0.090 [21]. - The company achieved operating revenue of 732.70 million yuan, a decrease of 13.07% compared to the same period last year [53]. - The net profit attributable to the owners of the company was 27.08 million yuan, down 59.72% year-on-year [53]. - Operating costs decreased by 10.75% to ¥548.12 million from ¥614.16 million year-on-year [61]. - The company reported a significant reduction in income tax expenses, down 57.15% to ¥5.34 million from ¥12.47 million, primarily due to the impact of COVID-19 on profits [61]. - The company reported a total investment of ¥23,807,915.14 during the reporting period, a decrease of 54.91% compared to the previous year [73]. - The company reported a total of 44.58 million in undistributed profits, which is essential for future reinvestment strategies [191]. Cash Flow and Investments - The net cash flow from operating activities improved to -¥111,224,898.77, a 58.97% increase from -¥271,059,427.48 in the same period last year [21]. - The company's cash and cash equivalents at the end of the reporting period were ¥651,338,599.77, a decrease of 3.85% from the previous year [68]. - The company reported a 123.50% increase in cash flow from financing activities, amounting to ¥22.27 million, primarily due to increased bank loans [61]. - The company has confirmed that there are no violations in the management of raised funds [82]. - The company temporarily supplemented its working capital with RMB 90 million from idle raised funds, with a usage period not exceeding 12 months [82]. Research and Development - The company has over 400 patents and more than 40 research achievements, supporting modern agricultural integrated solutions [46]. - The company has developed a comprehensive smart water management platform, improving decision-making and management capabilities [46]. - The company is implementing a digital transformation project to enhance project lifecycle management and operational efficiency [41]. - The company has increased its research and development expenditures by 88.59% compared to the beginning of the year, reflecting increased investment in research and development [42]. Corporate Governance and Compliance - The company has not engaged in any derivative investments or entrusted loans during the reporting period [86][88]. - The company did not conduct an audit for the semi-annual financial report [106]. - There were no major litigation or arbitration matters during the reporting period [108]. - The company reported no penalties or rectification situations during the reporting period [109]. - The company has established an investment decision committee to enhance technical analysis, financial judgment, feasibility studies, and risk assessments for projects, focusing on selecting financially sound and reputable partners [93]. Market Challenges and Risks - The company faced project delays due to the COVID-19 pandemic, impacting revenue recognition and project completion [34]. - The company has faced challenges in the sprinkler irrigation market due to rising land transfer fees and changes in crop planting structures [81]. - The company is positioned to expand its market presence through its diverse range of services and products [200]. - The company faces risks related to resource allocation as its business scale and diversity expand, requiring higher coordination and resource allocation capabilities from management [94]. Shareholder Information - The total number of shares is 797,360,687, with 18.68% being limited shares and 81.32% being unrestricted shares [134]. - The company repurchased 9,800,000 shares at a total cost of 49,980,000 RMB, representing 1.23% of the total share capital, at a price of 5.10 RMB per share [135]. - The major shareholders include Wang Haoyu with 23.30% and Qiu Ling with 22.74% of the shares, both of whom have pledged portions of their holdings [139]. - The company’s controlling shareholders have made commitments regarding tax liabilities and avoiding potential competition with the company, which are being fulfilled [101].

Financial Performance - Total revenue for Q1 2020 was ¥191,623,140.79, a decrease of 51.99% compared to ¥399,153,305.14 in the same period last year[8]. - Net profit attributable to shareholders was ¥1,125,234.58, down 97.79% from ¥50,844,384.98 year-on-year[8]. - Net cash flow from operating activities was -¥50,166,597.93, a decline of 490.12% compared to -¥8,501,064.82 in the previous year[8]. - Basic earnings per share decreased by 98.00% to ¥0.0014 from ¥0.07 in the same period last year[8]. - Total revenue for the reporting period was ¥191,623,140.79, a decrease of 51.99% compared to the same period last year, primarily due to the impact of the COVID-19 pandemic on sales[18]. - Net profit attributable to shareholders was ¥1,125,234.58, a decrease of 97.79% year-on-year, largely influenced by the pandemic's effects[18]. - Operating costs decreased by 51.51% year-on-year, reflecting a decline in sales volume due to the pandemic[18]. - Other income increased by 74.17% year-on-year, mainly due to an increase in government subsidies received[19]. - The company reported a total loss of CNY 12,971,627.10 for the period, an improvement from a loss of CNY 16,646,812.03 in the previous period[51]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4,054,690,478.64, an increase of 3.56% from ¥3,915,134,142.66 at the end of the previous year[8]. - The company's total assets amounted to CNY 3,343,311,157.63, an increase from CNY 3,258,464,733.71 at the end of 2019[45]. - Total liabilities as of March 31, 2020, were CNY 2,203,826,360.15, compared to CNY 2,106,008,309.13 at the end of 2019[45]. - The total assets of the company reached CNY 3,258,464,733.71[64]. - The total liabilities amounted to CNY 2,106,008,309.13, with current liabilities at CNY 2,044,987,626.85[64]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,297[11]. - The top two shareholders, Wang Haoyu and Qiu Ling, held 23.30% and 22.74% of shares respectively, with significant portions pledged[11]. - There were no significant changes in the number of restricted shares during the reporting period[14]. Government Support and Subsidies - The company received government subsidies amounting to ¥5,436,934.48 during the reporting period[9]. - The company is actively participating in government and social capital cooperation projects in the "Three Rural Issues" sector, aiming to maximize shared benefits and minimize project risks[24]. - The company is leveraging policy advantages to capture greater market share in the agricultural sector, particularly in light of increased government investment[24]. Research and Development - Research and development expenses increased by 60.89% year-on-year, indicating a rise in R&D investment during the period[19]. - The company is focusing on the development of new products and technologies, including various water-saving and irrigation systems, to enhance its competitive edge[21]. Risk Management and Business Strategy - The company is enhancing its internal risk control management system and establishing an investment decision committee to improve project analysis and risk assessment[25]. - The company is facing resource allocation risks due to its expanding business scale and diverse business models, necessitating improved coordination and resource support[26]. - The company is focusing on developing a unique business model targeting non-government clients, such as farm owners and agricultural groups, while managing risks associated with macroeconomic uncertainties[25]. Fundraising and Investments - The total amount of raised funds is RMB 70 million, with RMB 363.85 thousand invested in the current quarter[31]. - Cumulative investment of raised funds reached RMB 41.69883 million, accounting for 59.57% of the total raised funds[32]. - The company has changed the use of raised funds amounting to RMB 17.74799 million, which is 25.35% of the total raised funds[32]. - The company has successfully repurchased 9.8 million shares at an average price of RMB 5.10 per share, totaling RMB 49.98 million, representing 1.23% of the total share capital[29]. Operational Challenges - The company experienced a 30055.37% increase in non-operating expenses year-on-year, primarily due to increased donation expenditures[19]. - The company has faced increased competition in emerging business areas, particularly in rural sewage treatment and agricultural IoT[28]. - The company has made significant progress in establishing marketing networks across various regions, despite challenges posed by the pandemic[32].