Financial Performance - The company's operating revenue for 2019 was CNY 2,165,853,141.43, representing a 21.71% increase compared to CNY 1,779,589,084.67 in 2018[20]. - The net profit attributable to shareholders for 2019 was CNY 129,426,255.34, a 29.17% increase from CNY 100,200,771.35 in 2018[20]. - The net cash flow from operating activities was negative at CNY -181,236,154.18, a decline of 122.72% compared to CNY 797,866,604.24 in 2018[20]. - The total assets at the end of 2019 amounted to CNY 3,915,134,142.66, a 2.47% increase from CNY 3,820,870,783.68 at the end of 2018[20]. - The company reported a basic earnings per share of CNY 0.16 for 2019, up 23.08% from CNY 0.13 in 2018[20]. - The net profit after deducting non-recurring gains and losses for 2019 was CNY 113,446,986.64, a 20.99% increase from CNY 93,767,689.03 in 2018[20]. - The company achieved operating revenue of 2,165.85 million yuan, a year-on-year increase of 21.71%[38]. - The net profit attributable to shareholders reached 1,294.26 million yuan, reflecting a growth of 29.17% compared to the previous year[38]. - The company received government subsidies amounting to CNY 20,715,651.85 in 2019, compared to CNY 18,178,412.83 in 2018[26]. - The company reported a total revenue of 1,555,459,780.17 CNY, with a net profit of 230,199,085 CNY, indicating strong financial performance[98]. Dividend Distribution - The company reported a profit distribution plan based on 787,560,687 shares, proposing a cash dividend of 1 RMB per 10 shares (including tax) and no bonus shares[9]. - The cash dividend for the reporting period is set at 1 yuan per 10 shares, with a total cash dividend amounting to 78,756,068.70 yuan, representing 61.13% of the total distributable profit[121]. - In 2019, the company achieved a net profit of CNY 115,070,589.02, with a profit available for distribution to shareholders amounting to CNY 128,838,315.70 after accounting for statutory reserves and dividends paid[123]. - The company proposed a cash dividend of CNY 1.00 per 10 shares, totaling CNY 78,756,068.70, based on a total share capital of 797,360,687 shares as of December 31, 2019[126]. - The cash dividend for 2018 was also CNY 78,756,068.70, representing 78.60% of the net profit attributable to shareholders[129]. - The company has maintained a consistent dividend policy over the past three years, with cash dividends reflecting a significant portion of net profits[129]. Business Strategy and Market Expansion - The company aims to capture market resources in the non-government sector by developing a unique business model targeting farm owners and agricultural groups, which may face risks from economic uncertainties[6]. - The company aims to provide comprehensive service solutions across the entire agricultural value chain, focusing on smart agriculture and rural development[30]. - The company is expanding its main business into rural wastewater treatment, leveraging its project operation experience and technical reserves[8]. - The company is actively pursuing international expansion, seeking partnerships and acquisitions in advanced irrigation technology and agricultural services in regions like Israel and the United States[106]. - The company plans to expand its market presence through new product development and strategic investments in water-saving technologies[88]. - The company is expanding its market presence in Southeast Asia, with plans to enter three new countries by the end of the year[198]. - The company is focusing on building a unique business model in the future farm service sector, targeting non-government clients such as farm owners and agricultural groups[110]. - The company plans to enhance its market presence in the North China region, targeting high-standard farmland and ecological restoration projects along major rivers[104]. Research and Development - The company has a strong focus on research and development to enhance its capabilities in water-saving technologies and services, aligning with future agricultural trends[5]. - The company holds over 400 patents and 40 research achievements, enhancing its core competitiveness in modern agricultural solutions[45]. - The company has developed eight key systems in its smart water business, showcasing its technological advantages in providing comprehensive solutions[43]. - The company has invested 100 million RMB in research and development for innovative water management technologies[198]. - Research and development expenses increased by 35.62% to ¥24,833,812.38, primarily due to increased investment in R&D[74]. - The company's R&D investment for 2019 amounted to ¥49,589,198.21, representing 2.29% of total revenue[76]. - The number of R&D personnel increased to 38, accounting for 2.16% of total employees[76]. Operational Risks and Challenges - The company emphasizes the need for effective resource allocation and management capabilities as its business scale and diversity expand, which poses challenges for organizational adaptability[7]. - The company’s operational risks may arise from large investment amounts and long cooperation periods in social capital projects, which could lead to lower-than-expected profitability[4]. - The company is facing risks related to project selection and resource allocation, which could impact operational development if not managed effectively[110][112]. - The company aims to enhance its risk control management system and strengthen project evaluation processes to mitigate potential risks[111]. - The company is committed to exploring government and social capital cooperation models to maximize shared benefits and minimize project risks[110]. Corporate Governance and Compliance - The company’s financial report is guaranteed to be true, accurate, and complete by its management team, ensuring accountability for any misrepresentation[3]. - The company has maintained a focus on safety and environmental protection, investing continuously in these areas[157]. - The company has a strong focus on maintaining high standards of corporate governance, as evidenced by the independent directors on its board[183]. - The company has not reported any significant changes in its subsidiaries or other major matters during the reporting period[159]. - The company has not engaged in any joint external investment transactions during the reporting period[142]. - The company has not faced any suspension or termination of listing issues following the annual report disclosure[135]. Social Responsibility - The company has actively engaged in social responsibility initiatives, including environmental protection and poverty alleviation, enhancing its reputation and respect within the community[61]. - The company’s social responsibility report was published on April 10, 2020, detailing its commitment to social and environmental responsibilities[156]. Shareholder Information - The company reported a total of 797,360,687 shares outstanding, with 81.32% being unrestricted shares and 18.68% being restricted shares[162]. - The largest shareholder, Wang Haoyu, holds 23.30% of the shares, totaling 185,748,831 shares, with 46,437,208 shares pledged[168]. - The second largest shareholder, Qiu Ling, owns 22.74% of the shares, amounting to 181,318,818 shares, with 23,500,000 shares pledged[168]. - The company has a total of 30,975 ordinary shareholders at the end of the reporting period[167]. - The company has not conducted any repurchase transactions among the top ten shareholders during the reporting period[169]. Management and Leadership - The company experienced a management change with the resignation of the CFO Li Fuwu on August 12, 2019, due to job adjustment[181]. - The company appointed Joshua Spector as a senior management member on April 25, 2019, as part of its strategic adjustments[181]. - The company has a total of 7 current directors, with a mix of backgrounds in engineering and management, enhancing its leadership capabilities[182].

Financial Performance - Operating revenue for the reporting period was ¥471,514,462.40, representing a significant increase of 148.97% year-on-year[9] - Net profit attributable to shareholders was ¥16,628,902.32, a remarkable increase of 854.80% compared to the same period last year[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥5,763,772.61, up 323.01% year-on-year[9] - Basic earnings per share for the reporting period was ¥0.0209, an increase of 850.00% compared to the same period last year[9] - The weighted average return on net assets was 1.15%, an increase of 1.62% compared to the previous year[9] - Operating revenue for the first nine months reached ¥1,314,336,661.40, a 34.98% increase year-on-year, driven by expanded business scale and increased project wins[19] - Operating costs increased by 41.76% to ¥974,247,604.82, attributed to the expansion of business operations and increased revenue[19] - The total operating revenue for the third quarter of 2019 was CNY 471,514,462.40, a significant increase from CNY 189,387,759.07 in the same period last year, representing a growth of approximately 148.5%[48] - The total operating costs for the third quarter were CNY 421,377,602.14, compared to CNY 187,780,909.82 in the previous year, indicating an increase of about 124.0%[48] - The net profit for Q3 2019 reached ¥92,668,107.89, an increase of 48% compared to ¥62,615,686.56 in the same period last year[56] - The total profit for Q3 2019 was ¥127,570,025.87, compared to ¥73,665,513.60 in Q3 2018, marking a growth of 73%[56] Assets and Liabilities - Total assets at the end of the reporting period reached ¥3,973,037,171.71, an increase of 3.98% compared to the previous year[9] - The company's total assets as of September 30, 2019, amounted to CNY 3,284,499,265.54, up from CNY 3,047,353,392.47 at the end of 2018, reflecting a growth of approximately 7.8%[44] - The total liabilities increased to CNY 2,137,196,722.38 from CNY 1,931,211,488.21, marking an increase of about 10.7%[45] - The total liabilities increased to RMB 2,709,495,614.30 from RMB 2,652,308,574.12, reflecting a rise of about 2.1%[38] - The company's short-term borrowings rose to RMB 918,670,400.00 from RMB 878,440,300.00, marking an increase of approximately 4.1%[39] - The total amount of accounts payable was CNY 637,549,244.68, highlighting the company's obligations to suppliers[73] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥41,710,727.17, a decrease of 157.66% compared to the same period last year[9] - Cash flow from operating activities decreased by 157.66% to -¥41,710,727.17, primarily due to higher cash outflows from operations[19] - Total cash inflow from operating activities reached 2,177,452,255.62 CNY, while cash outflow was 2,219,162,982.79 CNY, resulting in a net cash flow deficit[64] - The company reported a net cash flow from financing activities of -85,388,152.16 CNY, a decrease from 353,574,491.26 CNY in the previous period[65] - The net cash flow from investment activities was -181,880,249.18 CNY, slightly improved from -183,686,749.72 CNY in the previous period[65] Shareholder Information - The company reported a total of 29,683 common shareholders at the end of the reporting period[12] - Major shareholder Wang Haoyu holds 23.30% of the shares, with 139,311,623 shares pledged[13] - The company did not engage in any repurchase transactions during the reporting period[14] Project Awards and Investments - The company was awarded a PPP project in Jiuquan City with a total estimated investment of ¥154,588,500, which is expected to positively impact future operating performance[20] - A project in Shay County with a total investment of ¥59,117,312.05 was won, covering an area of 52,700 acres for drip irrigation, anticipated to enhance future performance[21] - The company signed a PPP project contract in Wuzhong City with a total investment of ¥1,399,750,000, which will provide stable support for future operating performance and cash flow[21] - The company won a bid for an efficient water-saving project covering 128,000 acres of farmland, which is expected to positively impact its 2019 operating performance[23] - The company was selected as the pre-bid winner for a water-saving project in Tongliao City, with a project amount of approximately CNY 81.06 million and a duration of 60 days, covering 100,000 acres of farmland[24] - The company is part of a consortium that won a bid for a PPP project in Wushan County, with an estimated total investment of CNY 209.84 million, expected to provide 5.87 million cubic meters of irrigation water[23] Research and Development - Development expenditures increased by 61.89% to ¥26,072,376.24, reflecting higher investment in R&D projects[18] - Research and development expenses for the quarter were CNY 2,685,952.83, which is an increase from CNY 2,270,289.26 in the previous year, indicating a focus on innovation[48] - Research and development expenses increased to ¥3,008,162.48 from ¥2,847,670.36, indicating a focus on innovation[60] Strategic Partnerships - The company signed strategic cooperation framework agreements with multiple partners, including a notable agreement with Metzerplas from Israel[31] - The company signed a framework agreement with Xiong'an Technology Group for smart irrigation solutions for up to 200,000 acres of industrial hemp cultivation, with uncertain impact on future performance[24] - The company entered into a framework agreement with the Tongliao Municipal Government to promote high-quality agricultural development, with uncertain impact on 2019 performance[27]

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 has established a competitive advantage in high-standard farmland construction and social capital investment in farmland operations, with a notable first-mover advantage in agricultural IoT and future farm services [8]. - The company is transitioning from a water-saving irrigation system provider to a comprehensive agricultural technology service company [39]. - The company is focusing on modern agricultural development through technology services, contributing to the training of modern farmers and improving farmland value [43]. - The company is actively participating in government and social capital cooperation projects in the "three rural and three water" fields, aiming to reduce project risks through shared interests and cooperation [71]. - The company is facing challenges in the spray irrigation market due to rising land transfer costs and changes in agricultural planting structures [61]. - The company is leveraging its unique advantages in farmland operations to secure high-value operating rights in competitive regions [75]. Financial Performance - Total revenue for the reporting period was ¥842,822,199, an increase of 7.45% compared to ¥784,353,998 in the same period last year [19]. - Net profit attributable to shareholders was ¥67,226,704, representing a 21.12% increase from ¥55,502,758 in the previous year [19]. - Net profit after deducting non-recurring gains and losses was ¥61,352,460, up 25.56% from ¥48,862,688 in the same period last year [19]. - Basic earnings per share increased to ¥0.0843, up 21.12% from ¥0.0696 in the same period last year [19]. - The company achieved operating revenue of 842.82 million yuan, an increase of 7.45% year-on-year [30]. - The net profit attributable to shareholders reached 67.23 million yuan, reflecting a year-on-year growth of 21.12% [30]. - The company's operating revenue for the first half of 2019 was ¥108,555,239.46, a decrease of 19% compared to ¥133,926,788.25 in the same period of 2018 [145]. - The net profit for the first half of 2019 was a loss of ¥16,235,776.53, improving from a loss of ¥45,344,148.76 in the first half of 2018 [147]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥271,059,427, a decline of 43.09% compared to -¥189,439,001 in the previous year [19]. - Cash and cash equivalents decreased by 38.63% year-on-year, primarily due to increased payments for goods and services [31]. - The cash flow from operating activities showed a significant decline, with a net outflow of RMB 271,059,427.48, worsening by 43.09% compared to RMB 189,439,001.13 in the previous year [45]. - The total cash outflow from operating activities was ¥1,532,341,609.51, up from ¥850,875,096.26 in the previous year [150]. - The net cash flow from financing activities was negative at ¥94,754,019.17, a decrease from a positive cash flow of ¥578,139,672.42 in the first half of 2018 [150]. - The ending balance of cash and cash equivalents was ¥282,366,217.53, down from ¥625,169,519.90 at the end of the first half of 2018, representing a decrease of about 54.8% [154]. Research and Development - The company has nearly 400 patents and over 40 research achievements supporting its integrated agricultural solutions [33]. - The company's research and development investment increased by 18.46% to RMB 15,457,043.84 from RMB 13,047,912.67 in the previous year [45]. - Significant breakthroughs were made in product development, including buried drip heads and integrated fertilization machines [41]. - The company incurred research and development expenses of ¥1,838,173.16 in the first half of 2019, indicating ongoing investment in innovation [145]. - The company plans to continue investing in research and development for new technologies and products in the water conservation industry [168]. Shareholder and Equity Information - The company plans to not distribute cash dividends or issue bonus shares, indicating a focus on reinvestment for growth [9]. - The company reported a total share capital of 797,360,687 shares, with 81.32% being unrestricted shares and 18.68% being restricted shares [108]. - The company initiated a share repurchase program with a budget of up to RMB 50 million, with a maximum repurchase price of RMB 10 per share [109]. - The company successfully repurchased 9,800,000 shares at a total cost of RMB 49,980,000, representing 1.23% of the total share capital [109]. - The company reported a profit distribution of -78,756,068, indicating a loss in profit allocation to shareholders [164]. Operational Efficiency and Management - The company aims to enhance platform management to improve overall efficiency and ensure effective resource sharing among its subsidiaries [74]. - The company emphasizes the importance of adapting its organizational structure and management model to support business development and resource allocation [73]. - The company has committed to respecting the management systems of its subsidiaries while continuously improving internal control systems and processes [74]. - The company plans to strengthen its internal risk management system and establish an investment decision committee for better project evaluation [72]. - The company is focusing on non-government market resources and developing a unique business model in the farm service sector, targeting farm owners and agricultural groups [72]. Compliance and Regulatory Matters - The company has maintained compliance with environmental regulations, with no penalties reported during the reporting period [103]. - The company has not reported any significant environmental pollution incidents or major social responsibility issues during the reporting period [102]. - The company did not undergo an audit for the semi-annual financial report [82]. - There were no major litigation or arbitration matters during the reporting period [84]. - The company reported no penalties or rectification situations during the reporting period [85].

Financial Performance - Total operating revenue for Q1 2019 was CNY 399,153,305.14, representing an increase of 11.15% compared to CNY 359,119,977.20 in the same period last year[7]. - Net profit attributable to shareholders was CNY 50,844,384.98, up 10.38% from CNY 46,063,897.61 year-on-year[7]. - Basic earnings per share rose to CNY 0.07, reflecting a 16.67% increase from CNY 0.06 in the same quarter last year[7]. - The company's total revenue for the reporting period reached ¥399,153,305.14, representing an increase of 11.15% compared to the same period last year[18]. - Net profit attributable to shareholders was ¥50,844,384.98, reflecting a growth of 10.38% year-on-year[18]. - The total comprehensive income for Q1 2019 was CNY 52,966,229.33, compared to CNY 49,707,223.98 in the previous year, indicating a growth of approximately 5%[54]. Cash Flow - Net cash flow from operating activities improved significantly to CNY -8,501,064.82, a 95.79% increase compared to CNY -202,127,762.46 in the previous year[7]. - The company's cash flow from operating activities increased by 95.79% compared to the same period last year, primarily due to increased operational investments[17]. - The cash inflow from operating activities totaled CNY 470,692,284.22, compared to CNY 302,554,517.58 in the previous year, showing a strong operational performance[58]. - Operating cash inflow totaled CNY 1,146,459,471.38, up from CNY 684,836,993.77 in the previous period, representing a growth of approximately 67.5%[62]. - Net cash flow from operating activities was CNY 135,797,270.46, a significant improvement from a net outflow of CNY -226,209,565.69 in the prior period[62]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,847,744,273.98, a 0.70% increase from CNY 3,820,870,783.68 at the end of the previous year[7]. - The company's total assets as of March 31, 2019, amounted to CNY 3,143,186,035.25, compared to CNY 3,047,353,392.47 at the end of 2018[47]. - Total liabilities decreased to CNY 2,241,440,704.04 from CNY 2,267,092,307.58, a reduction of approximately 1.13%[40]. - Total liabilities amounted to CNY 1,931,211,488.21, with current liabilities at CNY 1,857,299,233.31[69]. - The company's equity attributable to shareholders was CNY 1,099,495,092.23, a slight decrease from CNY 1,116,141,904.26 at the end of 2018[47]. Research and Development - R&D expenses rose by 27.63% year-on-year, driven by higher investments in ongoing projects[16]. - The company is advancing several R&D projects, including a multi-channel water and fertilizer integration smart machine, which is in the testing phase[21]. - The company has completed testing and acceptance of key R&D products, including the "Smart Water Cloud" control system and integrated sewage treatment equipment[23]. - Research and development expenses for Q1 2019 were CNY 1,628,278.73, compared to CNY 1,275,749.93 in Q1 2018, reflecting a growth of 27.63%[48]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 27,961[10]. - The largest shareholder, Wang Haoyu, holds 23.30% of the shares, amounting to 185,748,831 shares, with 139,311,623 shares pledged[10]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[11]. - The company plans to repurchase shares with a total amount not exceeding RMB 50 million, with a maximum price of RMB 10 per share[29]. - The company has repurchased 9,800,000 shares at a total cost of RMB 49,980,000, representing 1.23% of the total share capital[29]. Market and Competition - The company is actively expanding its market share in high-standard farmland construction, high-value farmland operation, safe water supply, and rural sewage treatment[23]. - The company is facing increased competition in the agricultural investment and operation service sector due to the influx of social capital and market participants[27]. - The company is prioritizing the successful execution of the Tianjin Wuqing sewage treatment project to build experience and enhance its operational capabilities[27]. Government Support and Subsidies - The company received government subsidies amounting to CNY 2,900,968.00 during the reporting period[8]. - Other income surged by 1108.74% year-on-year, mainly due to increased government subsidies[16]. Financial Strategy and Management - The company is focusing on risk management by establishing an investment decision committee to enhance project analysis and feasibility studies[25]. - The company is committed to improving its internal management systems to adapt to rapid changes in the external environment and ensure effective resource allocation[26]. - The company has adjusted its fundraising project implementation methods as necessary[32].

Financial Performance - The company's operating revenue for 2018 was approximately ¥1.78 billion, representing a 38.55% increase compared to ¥1.28 billion in 2017[20]. - The net profit attributable to shareholders for 2018 was approximately ¥100.20 million, a 4.99% increase from ¥95.44 million in 2017[20]. - The net cash flow from operating activities reached approximately ¥797.87 million, a significant increase of 5,806.90% compared to a negative cash flow of ¥14.08 million in 2017[20]. - The total assets at the end of 2018 amounted to approximately ¥3.82 billion, reflecting a 29.40% increase from ¥2.95 billion at the end of 2017[20]. - The company reported a basic earnings per share of ¥0.13, a decrease of 18.75% from ¥0.16 in 2017[20]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching approximately ¥93.77 million, a 22.99% increase from ¥76.24 million in 2017[20]. - The weighted average return on equity for 2018 was 7.08%, slightly up from 7.00% in 2017[20]. - The company achieved operating revenue of 1,779.59 million yuan, an increase of 38.55% compared to the previous year[37]. - The net profit attributable to shareholders was 100.20 million yuan, reflecting a growth of 4.99% year-on-year[38]. - The company signed new orders totaling 4.5 billion yuan, representing a year-on-year increase of 52%[38]. Business Expansion and Strategy - The company has expanded its business into rural sewage treatment and safe drinking water for farmers, in addition to its core focus on efficient agricultural water conservation[31]. - The company aims to provide comprehensive service solutions across the entire agricultural value chain, including smart agriculture and farm management[30]. - The company has established a complete industrial chain support system over nearly 20 years, covering R&D, financing, water conservancy design, and smart manufacturing[31]. - The company has established a model for social capital investment in farmland operations, which has been successfully replicated nationwide[34]. - The company operates in over 30 countries and regions globally, enhancing its international brand influence[35]. - The company has developed a comprehensive smart water management platform utilizing IoT, big data, and cloud computing technologies[36]. - The company has focused on high-value economic crops, providing precise irrigation solutions to improve yield and efficiency[35]. - The company has expanded its rural environmental governance efforts, winning contracts for rural sewage treatment projects in Tianjin and Gansu[50]. - The company has completed a comprehensive layout for its future farm service business, targeting farm owners and agricultural enterprises[51]. - The company is actively pursuing market expansion through strategic acquisitions and new product development initiatives[68]. Research and Development - The company is committed to enhancing its research and development capabilities to support its expanding business operations and market presence[7]. - The company has developed 386 patents and 38 research achievements, supporting its integrated modern agricultural solutions[43]. - The company’s R&D expenses increased by 278.34% to ¥18,311,916.02, primarily due to increased investment in research and development[73]. - The company’s R&D investment amounted to ¥38,907,745.36, representing 2.19% of operating revenue[75]. - The company is investing 200 million RMB in R&D for new water-saving technologies in 2019[198]. Risk Management and Challenges - The company faces risks related to resource allocation as its business scale and diversity expand, requiring effective coordination and support from various departments[7]. - The company acknowledges potential competition risks as more social capital and operators enter the agricultural investment and operation service sector, particularly in rural sewage treatment[8]. - The company is focusing on non-government market resources, targeting farm owners and agricultural groups, which may expose it to uncertainties in macroeconomic conditions and agricultural practices[6]. - The company emphasizes the need for improved organizational structure and management capabilities to adapt to internal and external environmental changes[7]. - The company is committed to improving its risk management system by implementing a layered risk management approach and enhancing audit efforts across business segments[110]. Shareholder and Capital Management - The company plans to distribute a cash dividend of 1.00 yuan per 10 shares to all shareholders, based on a total of 787,560,687 shares[9]. - The total distributable profit available for shareholders as of December 31, 2018, was CNY 104,030,854.28[121]. - The company did not implement any capital reserve conversion into shares during the reporting period[120]. - The cash dividend for 2018 accounted for 78.60% of the consolidated net profit attributable to ordinary shareholders[127]. - The company’s total share capital as of December 31, 2018, was 787,560,687 shares[120]. Corporate Governance and Management - The company has a positive outlook based on its strategic development plans and confidence in its core business[121]. - The company underwent a board restructuring on March 9, 2018, with multiple appointments and dismissals of directors and supervisors[182]. - The company appointed new senior management personnel, including Gao Zhanyi and Wei Gaoyang, on May 11, 2018[183]. - The management team is expected to drive future growth and strategic initiatives following the recent changes[183]. - The company is focused on enhancing its governance structure through the appointment of qualified individuals to key positions[182]. Environmental and Social Responsibility - The company has received multiple awards for quality and social responsibility, including the Gansu Provincial Government Quality Award[158]. - The company has not been classified as a key pollutant discharge unit by environmental protection authorities and has adhered to all relevant regulations without penalties[159]. - The company donated over RMB 300,000 to support underprivileged employees and local schools during the reporting period[158]. - The company’s environmental and safety measures have consistently met national standards, ensuring compliance and avoiding penalties[159]. Market Trends and Opportunities - The company plans to leverage the national rural revitalization strategy, which emphasizes investment in agricultural water conservation, presenting significant market potential[99]. - The rural sewage treatment market is expected to grow rapidly, with current treatment rates significantly lower than urban areas, indicating substantial room for improvement[100]. - The demand for high-quality agricultural products is increasing, necessitating advanced irrigation technology and comprehensive service solutions to meet consumer expectations[103]. - The company aims to enhance its market share in water conservancy design, smart water management, and overseas business, focusing on high-standard farmland construction and social capital investment in farmland operations[107].

Financial Performance - Operating revenue decreased by 15.16% to CNY 189,387,759.07 for the current period, but increased by 31.06% to CNY 973,741,757.77 year-to-date[7] - Net profit attributable to shareholders increased by 80.78% to CNY 1,741,607.50 for the current period, and by 91.28% to CNY 57,244,366.23 year-to-date[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses increased by 223.32% to CNY 1,362,554.89 for the current period, and by 86.14% to CNY 50,983,348.65 year-to-date[7] - Basic earnings per share rose by 1,000.00% to CNY 0.0022 for the current period, and by 16.67% to CNY 0.07 year-to-date[7] - Total operating revenue for the third quarter was CNY 189,387,759.07, a decrease of 15.1% compared to CNY 223,224,819.69 in the same period last year[42] - Net profit for the period reached CNY 2,655,516.12, compared to CNY 170,643.24 in the previous year, indicating a significant increase[43] - The total comprehensive income attributable to the parent company was ¥57,244,366.23, compared to ¥29,926,225.76 in the previous year, reflecting an increase of approximately 91.5%[53] - The total comprehensive income for the year-to-date period was ¥62,615,686.56, compared to ¥31,618,275.71 in the previous year, reflecting an increase of approximately 97.5%[52] Assets and Liabilities - Total assets increased by 25.69% to CNY 3,711,411,843.53 compared to the end of the previous year[7] - The company's total assets at the end of the quarter were CNY 2,958,083,923.62, up from CNY 2,672,743,202.56 at the beginning of the year[40] - Current liabilities totaled CNY 1,812,335,578.98, an increase from CNY 1,483,074,271.22 at the start of the year[39] - Long-term investments rose to CNY 1,781,956,027.79, compared to CNY 1,631,630,641.79 at the beginning of the year, reflecting a growth of 9.2%[38] - The total liabilities increased to CNY 1,896,739,533.48 from CNY 1,581,704,645.47, indicating a rise of 19.9%[39] - The equity attributable to shareholders of the parent company was CNY 1,397,482,673.98, slightly up from CNY 1,390,218,307.75[40] Cash Flow - Cash and cash equivalents increased by 57.37% from the beginning of the year to ¥737,086,508.83, mainly due to higher cash inflows from operating activities[18] - The net cash flow from operating activities improved by 134.22% to ¥72,344,418.54, mainly due to better cash inflows from key projects[19] - Cash flow from operating activities generated a net amount of ¥72,344,418.54, a turnaround from a negative cash flow of ¥211,411,478.82 in the previous period[57] - Total cash and cash equivalents at the end of the period were ¥671,540,851.09, compared to ¥420,925,092.46 in the previous period[60] - The net cash flow from financing activities was 350,943,191.26 CNY, an increase from 76,731,170.92 CNY in the previous period[63] - Cash inflow from obtaining loans amounted to 856,440,300.00 CNY, compared to 414,270,000.00 CNY previously[63] - Cash outflow for debt repayment was 467,292,348.61 CNY, up from 291,372,053.95 CNY in the prior period[63] Shareholder Information - The total number of shareholders at the end of the reporting period was 36,246[11] - The top two shareholders, Wang Haoyu and Qiu Ling, hold 23.30% and 22.74% of shares respectively, with significant portions pledged[11] - There were no repurchase transactions conducted by the top shareholders during the reporting period[12] Research and Development - R&D expenses surged by 163.58% to ¥5,040,778.08, reflecting increased investment in R&D projects[19] - Research and development expenses increased to ¥2,270,289.26 from ¥1,912,423.58, showing a growth of 18.7%[43] - Research and development expenses increased to ¥1,676,703.07 in Q3 2018 from ¥300,143.06 in Q3 2017, showing a growth of over 455%[47] Projects and Contracts - The company secured a government project in Xiangyun County with a contract value of ¥148.26 million, covering an irrigation area of 50,000 acres[20] - A framework agreement for an agricultural high-efficiency water-saving project was signed, with an estimated total investment of ¥300 million, though its impact on 2018 performance remains uncertain[20] - The company was awarded a contract for a rural sewage treatment project in Wuqing District, with an investment scale of ¥1.59 billion, expected to significantly impact 2018 and 2019 performance[23] - The company received a notice of successful bid for the efficient water-saving irrigation project in Binchuan County, with an investment scale of approximately CNY 280.46 million, which is expected to positively impact the company's 2018 operating performance[24] - A cooperation framework agreement was signed with the People's Government of Fengqing County for a 56,000 mu agricultural efficient water-saving project, with a preliminary estimated investment of CNY 168 million, though the impact on 2018 performance remains uncertain[25] - The company, as the lead partner in a consortium, was selected as the first candidate for the modern ecological irrigation district construction project in Wuzhong City, with a total investment of approximately CNY 1.39975 billion, covering a construction period of 5 years and an operation period of 22 years[25] Other Information - There were no overdue commitments or violations regarding external guarantees during the reporting period[28][29][30] - The company's third-quarter report was not audited[64]

Financial Performance - The total operating revenue for the first half of 2018 was ¥784,353,998.70, representing a 50.92% increase compared to ¥519,721,557.03 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was ¥55,502,758.74, a significant increase of 91.63% from ¥28,962,822.75 year-on-year[16]. - The net profit after deducting non-recurring gains and losses was ¥48,862,688.55, up 81.18% from ¥26,968,950.54 in the previous year[16]. - The basic earnings per share increased to ¥0.07, a rise of 75.00% compared to ¥0.04 in the same period last year[16]. - The company achieved operating revenue of 784.35 million yuan, a year-on-year increase of 50.92%[25]. - The net profit attributable to shareholders reached 555.03 million yuan, reflecting a growth of 91.63% compared to the previous year[25]. - The company reported a significant increase in cash flow from financing activities, amounting to ¥578,139,672.42, a 834.65% increase compared to -¥78,695,510.53 in the previous year[39]. - The company reported a total of ¥81.78 million in revenue from water-saving engineering design, reflecting a decrease of 25.10% year-over-year, with a gross margin of 38.07%[42]. - The total comprehensive income for the first half of 2018 was CNY 95,437,070.59, showing a decrease of 6.53% compared to the previous period[156]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,592,949,205.64, reflecting a 21.68% increase from ¥2,952,851,523.98 at the end of the previous year[16]. - The company's total liabilities increased to ¥2,159,002,381.40, compared to ¥1,581,704,645.47 in the previous period, indicating a rise of 36.4%[140]. - The equity attributable to shareholders of the parent company rose to CNY 1,445,721,066.49 from CNY 1,390,218,307.75, showing an increase of about 4.0%[133]. - The company has a total of ¥257.19 million in restricted assets, primarily due to bank guarantees and collateral for loans[50]. - The company reported a significant increase in short-term loans to ¥1.29 billion, which is 35.87% of total liabilities, up from 21.10% in the previous year[47]. Cash Flow Management - The company reported a negative net cash flow from operating activities of ¥189,439,001.13, worsening by 63.70% compared to ¥-115,722,339.35 in the previous year[16]. - The net increase in cash and cash equivalents was ¥311,985,365.15, a 207.35% improvement from -¥290,623,147.36, indicating enhanced cash reserves[39]. - Cash generated from operating activities was ¥572,825,522.56, compared to ¥387,474,067.50 in the previous year, showing a growth of 47.8%[145]. - The company experienced a net increase in cash and cash equivalents of 311,985,365.15 CNY, contrasting with a decrease of -290,623,147.36 CNY in the previous period[147]. Business Expansion and Strategy - The company plans to expand its main business into rural sewage treatment and safe drinking water for farmers, aligning with national rural revitalization policies[4]. - The company has actively expanded its business scope, focusing on agricultural and water-related projects across various regions, including international markets such as Thailand and Nigeria[34]. - The company is focusing on strategic mergers and acquisitions to drive growth in the upcoming periods[154]. - The company has established a strong international presence, collaborating with renowned experts and institutions to enhance its brand influence globally[24]. Research and Development - The company has expanded its research and development capabilities, successfully developing several new products including automatic irrigation control systems and various filtration devices[32]. - Research and development investment rose by 22.14% to ¥13,047,912.67 from ¥10,682,616.82, reflecting an increase in R&D efforts[39]. - The company has made significant advancements in smart water management and rural sewage treatment technologies, enhancing its competitive edge[28]. Shareholder and Management Commitments - The company will not distribute cash dividends or issue bonus shares for this reporting period[5]. - The company’s controlling shareholders, Wang Haoyu and Qiu Ling, committed to bear the responsibility for any tax payments, penalties, and interest if the tax authorities pursue the company for income tax from 2006 and 2007, which is calculated at 1% of revenue[78]. - Wang Haoyu and Qiu Ling have made commitments to avoid any business activities that compete with the company's main operations, ensuring no conflicts of interest during their ownership[79]. - The company has implemented an employee stock ownership plan, which was approved in April 2018, and is currently in discussions with asset management institutions regarding its execution[86]. Compliance and Governance - The company reported no instances of mismanagement of fundraising, ensuring compliance with disclosure obligations[59]. - The company did not engage in entrusted financial management, derivative investments, or entrusted loans during the reporting period[62][63][64]. - The company has maintained compliance with environmental and safety regulations, with no penalties received[102]. - The company’s independent directors and supervisory board expressed agreement with the decisions made regarding the fundraising projects[61]. Market and Industry Position - The company operates a comprehensive business model covering the entire agricultural and water-saving industry chain, focusing on high-efficiency water-saving equipment and wastewater treatment systems[168]. - The company is actively involved in the "Three Rural Issues and Three Water Issues" sector, providing comprehensive solutions across the entire industry chain[25]. - The company has a well-established marketing network, covering numerous provinces and over 20 countries, providing a competitive advantage in market expansion[29]. Investment and Fundraising - The total amount of raised funds is CNY 721,355,637.00, with a net amount of CNY 699,999,996.97 after deducting issuance costs[54]. - The company has established dedicated accounts for the raised funds, ensuring proper management and usage[55]. - The company decided to terminate two fundraising projects, including the Tianjin spray irrigation production line and the Hexi Corridor black goji berry efficient water-saving irrigation project, due to significant changes in project feasibility and market conditions[58]. Environmental and Social Responsibility - The company has not reported any major environmental protection issues or been listed as a key pollutant discharge unit by environmental authorities[101]. - The company emphasizes its commitment to environmental safety in its manufacturing and engineering operations[102]. - The company has not yet initiated any targeted poverty alleviation work and has no subsequent plans for such initiatives[103].

Financial Performance - Total revenue for Q1 2018 reached ¥359,119,977.20, an increase of 84.92% compared to ¥194,200,125.99 in the same period last year[7] - Net profit attributable to shareholders was ¥46,063,897.61, representing a growth of 100.51% from ¥22,973,534.51 year-on-year[7] - The net profit after deducting non-recurring gains and losses was ¥45,340,664.10, up 105.32% from ¥22,082,391.71 in the previous year[7] - Basic earnings per share increased to ¥0.06, a 50.00% rise from ¥0.04 in the same quarter last year[7] - The company achieved operating revenue of RMB 359,119,977.20, an increase of 84.92% year-on-year[19] - Net profit attributable to shareholders reached RMB 46,063,897.61, up 100.51% compared to the same period last year[19] - New signed orders amounted to RMB 1.85 billion, a year-on-year increase of 1,290.98%[19] - Total operating revenue for Q1 2018 was CNY 359,119,977.20, a 84.93% increase from CNY 194,200,125.99 in the same period last year[43] - Net profit for Q1 2018 reached CNY 49,707,223.98, compared to CNY 23,310,729.63 in Q1 2017, representing an increase of 113.61%[44] - Earnings per share for Q1 2018 were CNY 0.06, up from CNY 0.04 in the same quarter last year[45] - Operating profit for Q1 2018 was CNY 57,868,224.08, an increase from CNY 25,814,401.39 in Q1 2017[44] - The total profit for Q1 2018 was CNY 58,479,087.03, compared to CNY 26,863,276.41 in the same quarter last year[44] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,300,931,413.77, reflecting an 11.79% increase from ¥2,952,851,523.98 at the end of the previous year[7] - The net assets attributable to shareholders amounted to ¥1,439,925,531.73, up 3.58% from ¥1,390,218,307.75 at the end of last year[7] - Total current assets increased to ¥2,336,459,156.85 from ¥2,040,520,854.17, representing a growth of approximately 14.5%[35] - Total non-current assets reached ¥964,472,256.92, up from ¥912,330,669.81, indicating an increase of around 5.7%[36] - Total liabilities rose to ¥1,790,696,406.38 from ¥1,499,746,059.09, marking an increase of approximately 19.4%[37] - The total liabilities as of Q1 2018 amounted to CNY 1,880,409,764.37, an increase from CNY 1,581,704,645.47 in the previous year[44] - Total equity attributable to shareholders increased to ¥1,439,925,531.73 from ¥1,390,218,307.75, reflecting a growth of approximately 3.6%[38] - The total equity for Q1 2018 was CNY 1,071,520,605.41, slightly down from CNY 1,091,038,557.09 in Q1 2017[44] Cash Flow - The company reported a net cash flow from operating activities of -¥202,127,762.46, worsening by 38.27% compared to -¥146,185,174.21 in the previous year[7] - Cash received from sales of goods and services in Q1 2018 was CNY 259,720,659.89, compared to CNY 174,306,473.85 in the previous period[50] - The net cash flow from operating activities was -202,127,762.46 CNY, compared to -146,185,174.21 CNY in the previous period, indicating a decline of approximately 38.4%[51] - Total cash inflow from financing activities was 539,701,902.73 CNY, significantly higher than 174,270,000.00 CNY in the previous period, representing an increase of about 209.5%[52] - The net cash flow from financing activities was 349,119,537.43 CNY, compared to 52,117,213.37 CNY in the previous period, showing an increase of approximately 572.5%[52] - The total cash and cash equivalents at the end of the period amounted to 571,086,704.91 CNY, up from 446,012,753.05 CNY, reflecting an increase of about 28.1%[52] - Cash inflow from operating activities was 302,554,517.58 CNY, compared to 186,046,016.77 CNY in the previous period, representing an increase of about 62.7%[51] - The cash flow from investment activities was -21,918,745.27 CNY, compared to -48,499,466.33 CNY in the previous period, showing an improvement of approximately 54.8%[52] Shareholder Commitments and Risks - The company has identified management risks due to rapid expansion and is enhancing platform management to improve operational efficiency[9] - The company is closely monitoring the progress of its fundraising projects to mitigate risks associated with potential market changes[10] - The company’s management is committed to increasing shareholdings, reflecting confidence in future growth and stability[23] - The company reported a commitment from its controlling shareholders to cover any tax liabilities arising from the years 2006 and 2007, amounting to 1% of revenue from water-saving projects[25] - The controlling shareholders, Wang Haoyu and Qiu Ling, have pledged to avoid any competition with the company's main business activities[26] - The company has not encountered any violations of commitments made by its major shareholders during the reporting period[26] - The company has a long-term commitment from its shareholders to limit the transfer of shares during their tenure to no more than 25% of their total holdings[26] - The company is actively monitoring and managing risks associated with its operations, as outlined in its risk management section[24] Investment and Projects - The company plans to issue bonds up to RMB 540 million, which has been approved by the China Securities Regulatory Commission, to support project construction and operations[23] - The total amount of raised funds for the quarter was 70,000,000, with an investment of 900,150[28] - Cumulative investment amount from raised funds reached 37,282,700, with a change in purpose amounting to 0[28] - The investment progress for the Tianjin Dayu Sprinkler Production Line project was 83.92%, with a total commitment of 5,504,200[28] - The investment progress for the automated control equipment production line project was 17.59%, with a total commitment of 5,033,300[28] - The investment progress for the Hexi Corridor high-efficiency water-saving irrigation project was 31.41%, with a total commitment of 25,000,000[28] - The company plans to temporarily use 80,000,000 of idle raised funds to supplement working capital, with a repayment period not exceeding 12 months[29] - The company has not encountered any significant changes in the feasibility of projects or violations regarding the use of raised funds[30] - There were no instances of non-operating fund occupation by controlling shareholders or related parties during the reporting period[31] - The company has complied with disclosure obligations regarding the use and progress of raised funds, ensuring no violations of fund management regulations[29] Other Information - The company has not disclosed any significant new product developments or technological advancements in this reporting period[24] - The company has not provided specific future performance guidance or market expansion plans in the current report[24] - The company has not reported any recent mergers or acquisitions that would impact its strategic direction[24] - The company has committed to ensuring the independent operation and decision-making of its subsidiaries to avoid conflicts of interest[26] - The company reported no cash dividend policy execution during the reporting period[30]

Financial Performance - The company's operating revenue for 2017 was CNY 1,284,423,666, representing a 24.80% increase compared to CNY 1,029,195,759.68 in 2016[16]. - The net profit attributable to shareholders for 2017 was CNY 95,437,070.59, a significant increase of 57.78% from CNY 60,487,154.50 in 2016[16]. - The net profit after deducting non-recurring gains and losses was CNY 76,239,226.08, up 60.30% from CNY 47,560,832.34 in 2016[16]. - The company's total assets at the end of 2017 were CNY 2,952,851,523.98, an increase of 18.77% from CNY 2,486,127,190.04 at the end of 2016[16]. - The net assets attributable to shareholders increased by 4.25% to CNY 1,390,218,307.75 from CNY 1,333,575,934.93 in 2016[16]. - The basic earnings per share for 2017 were CNY 0.16, a decrease of 20.00% compared to CNY 0.20 in 2016[16]. - The diluted earnings per share were CNY 0.13, down 18.75% from CNY 0.16 in 2016[16]. - The net cash flow from operating activities was negative CNY 14,076,376.13, an improvement of 89.81% from negative CNY 107,251,418.16 in 2016[16]. - The weighted average return on equity for 2017 was 5.60%, a decrease from 6.13% in 2016[16]. Business Operations - The company has eight major business segments, including research and development, capital, design, engineering, manufacturing, smart water management, environmental protection, and agriculture[27]. - The company signed new orders totaling 2,964 million yuan, an increase of 88.31% compared to the previous year[30]. - The company reported non-recurring gains and losses totaling 191.98 million yuan for the year[22]. - The company has a strong engineering construction capability, with over 300 project managers and a first-class qualification for water conservancy engineering construction[27]. - The company has established a comprehensive operational capability, ensuring the safe and stable operation of water-saving projects through integrated design, materials, construction, and after-sales service[44]. - The company has formed strategic partnerships with multiple banks and financial institutions, providing a solid financing guarantee for future PPP projects[45]. - The company has established a new manufacturing division, significantly improving operational efficiency and productivity through smart equipment upgrades[50]. Market and Strategic Initiatives - The company plans to leverage new platforms to expand its rural environmental protection and safe water supply business segments[31]. - The market for efficient water-saving irrigation is expected to grow significantly, with an estimated investment of 150 billion yuan planned for new irrigation projects during the 13th Five-Year Plan[33]. - The company is positioned to benefit from the national rural revitalization strategy and the increasing focus on agricultural and rural development[33]. - The company is actively pursuing multiple strategic partnerships for water-saving projects, with total estimated investments exceeding CNY 60 billion across various agreements[65]. - The company has signed over 20 billion yuan in new PPP framework agreements during the year, expanding its influence in the market[49]. Research and Development - The company applied for 55 national patents in 2017, including 37 invention patents, enhancing its technological capabilities[53]. - Research and development investment amounted to ¥33,841,787.91, representing 2.63% of operating revenue, an increase from 2.31% in 2016[77]. - The company has been recognized as a high-tech enterprise and has received national awards for its innovative technology in precision drip irrigation[41]. Financial Management and Investments - The company raised a total of 721,355,637.00 RMB through a non-public offering of 40,344,275 shares at a price of 17.88 RMB per share, with a net amount of 699,999,996.97 RMB after deducting issuance costs[95]. - The company has committed to several investment projects, including a modern agricultural water-saving facility with a total investment of 167,478,000 RMB, of which 34.83% has been completed by June 30[98]. - The company has made substantial investments in new projects, including the establishment of new subsidiaries focused on water management and engineering[89]. - The company has successfully issued 540 million yuan in corporate bonds, approved by the China Securities Regulatory Commission[52]. Shareholder Structure and Governance - The controlling shareholder, Wang Dong, passed away, leading to the inheritance of 145,055,054 shares, representing 45.48% of the total shares[166]. - The new controlling shareholders are Wang Haoyu and Qiu Ling, effective from May 16, 2017[177]. - The company has undergone changes in its board members, with several appointments and resignations in 2017[186]. - The company has not reported any mergers or acquisitions during the reporting period[179]. Corporate Social Responsibility - The company donated approximately CNY 400,000 to various charitable causes throughout the year[156]. - The company does not belong to the key pollutant discharge units as identified by environmental protection authorities[158]. Future Outlook - The company plans to expand its market presence through new product development and technological advancements in water-saving solutions[93]. - The company aims to enhance its operational efficiency and explore potential mergers and acquisitions to strengthen its market position[93]. - The company maintains a positive outlook on the market prospects for the water-saving irrigation industry, supported by favorable government policies and increased investment[128].

Financial Performance - Operating revenue for the reporting period was ¥223,224,819.69, reflecting a growth of 9.00% year-on-year[7]. - Net profit attributable to shareholders decreased by 51.04% to ¥963,403.01 for the reporting period[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥421,432.17, down 15.35% compared to the same period last year[7]. - The basic earnings per share was ¥0.0002, a decrease of 97.65% year-on-year[7]. - The weighted average return on net assets was 0.07%, down 0.15% from the previous year[7]. - The total operating income for the year-to-date period is CNY 742,946,376.72, an increase of 3.9% from CNY 720,057,776.93 in the same period last year[48]. - The total operating costs for the year-to-date period are CNY 716,487,192.69, up 1.8% from CNY 703,921,150.93 in the previous year[48]. - The net profit for the current period is CNY -4,124,846.26, an improvement from CNY -6,445,270.19 in the previous period, indicating a reduction in losses[46]. - The total comprehensive income for the current period is CNY 31,618,275.71, compared to CNY 21,640,499.56 in the previous period, reflecting a year-over-year increase of 46.1%[51]. - The basic and diluted earnings per share for the current period are both CNY 0.06, consistent with the previous period[51]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥2,519,608,586.78, an increase of 1.35% compared to the previous year[7]. - The company's total liabilities reached CNY 1,944,407,279.05, compared to CNY 1,953,439,059.48 at the beginning of the period, showing a slight decrease[33]. - The total liabilities as of the end of Q3 2017 amounted to CNY 1,126,071,978.45, compared to CNY 1,109,037,493.84 at the beginning of the period, showing a slight increase of about 1.5%[36]. - The company's cash and cash equivalents decreased to CNY 444,096,126.78 from CNY 605,686,903.73, reflecting a decline of approximately 26.5%[33]. - The company's cash and cash equivalents decreased to CNY 370,603,161.52 from CNY 518,215,398.73, a decline of about 28.5%[37]. - The total cash and cash equivalents at the end of the period were ¥420,925,092.46, down from ¥570,407,468.70 at the end of the previous period[58]. - The total cash and cash equivalents at the end of the period were ¥371,667,429.43, down from ¥492,167,366.32 at the beginning of the period[60]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 37,375[11]. - The top two shareholders, Qiao Ling and Wang Haoyu, each hold 22.74% of the shares, totaling 181,318,818 shares[11]. - The company has committed to not reducing its shareholdings for six months starting January 17, 2017, to promote stable development and protect shareholder interests[27]. Cash Flow - The net cash flow from operating activities for the year-to-date was -¥219,257,944.66, a decrease of 22.21% compared to the previous year[7]. - Cash flow from operating activities showed a net outflow of -¥219,257,944.66, worsening from -¥179,416,381.85 in the previous period[58]. - The company received cash from sales of goods and services amounting to ¥590,764,147.25, slightly down from ¥598,192,033.96 in the previous period[57]. - The company reported a cash inflow from financing activities of ¥78,756,780.63, a decrease from ¥583,572,295.55 in the previous period[58]. - The net cash flow from financing activities was ¥76,731,170.92, a decrease from ¥569,448,751.10 in the previous period[60]. Investments and Projects - The company signed a PPP investment cooperation framework agreement with the Binchuan County government for a project covering 113,000 mu, with an estimated total investment of ¥500 million[17]. - A framework agreement was signed with the Wuzhong City government for a modern irrigation project with a total estimated investment of ¥2.2 billion[19]. - The company is actively promoting a project in Xiangyun County with an estimated total investment of ¥170 million, utilizing a BOT model[20]. - The company plans to integrate various funding sources for a project in Fuyang City, with an estimated total investment of ¥6 billion[19]. - The company is preparing to bid for a project in Alxa Left Banner with an estimated total investment of ¥860 million, focusing on water supply and flood control[20]. - The company signed a strategic cooperation framework agreement with the Hulunbuir Daxinganling Agricultural Reclamation Group for a total investment of 1.4 billion RMB, covering 460,000 mu of efficient water-saving irrigation projects[21]. - The company entered into a strategic cooperation framework agreement with the Shuangliao Municipal Government in Jilin Province, involving a total estimated investment of 2.5 billion RMB for water conservancy projects under the PPP model[21]. - A joint venture, Beijing Leshui Xinyuan Intelligent Water Technology Co., Ltd., was established with a registered capital of 30 million RMB, with the company contributing 15.3 million RMB for a 51% stake[23]. - The company is actively pursuing multiple strategic cooperation agreements with various local governments, including agreements signed with governments in Yunnan, Gansu, and Inner Mongolia[24]. - The company is focusing on modernizing irrigation management and technology development, including smart water solutions and automated control technologies[23]. Operational Costs - Operating costs for the same period were CNY 223,561,450.17, up from CNY 203,937,524.16, indicating an increase of about 9.7%[42]. - Operating costs for the current period are CNY 57,297,176.06, down 22.9% from CNY 74,303,555.35 in the previous period[46]. - Management expenses increased to ¥19,086,362.15 from ¥16,240,367.14 in the previous period, reflecting higher operational costs[53]. - The company incurred sales expenses of ¥3,333,655.73, down from ¥4,030,925.32 in the previous period[53]. Compliance and Governance - There were no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[28][29]. - The company has not reported any significant changes in net profit compared to the same period last year, indicating stable financial performance[28]. - The company did not undergo an audit for the third quarter report[61].