编号： 证券代码：300105 证券简称：龙源技术 烟台龙源电力技术股份有限公司投资者关系活动记录表 | --- | --- | --- | |-----------------------|------------------------------------------------------------|---------------------------------------------------------------------------------------| | | 特定对象调研 | □分析师会议 | | 投资者关系活动 | □媒体采访 | □业绩说明会 | | 类别 | □新闻发布会 | □路演活动 | | | □现场参观 | □其他 | | 参与单位名称 及人员 | 富国基金研究员 1 | 名、国联证券分析师 1 名 | | 时间 | 2022 年 11 月 4 日 | | | 地点 | 公司本部会议室 | | | 上市公司接待人 员姓名 | 总会计师兼董事会秘书 证券部经理 黄大木 证券事务代表 宫文静 | 刘克冷 | | | | 1．由证券事务代表宫文静女士对公司情况进行了 ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥109,544,729.15, representing a 54.95% increase compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2022 was ¥550,634.30, a significant increase of 105.73% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥1,415,978.68, reflecting an 86.36% decrease compared to the previous year[5] - Total operating revenue for Q3 2022 was CNY 337,996,409.11, an increase of 59.5% compared to CNY 212,033,487.89 in the same period last year[21] - Net profit for Q3 2022 reached CNY 71,433,537.26, compared to a net loss of CNY 23,632,908.74 in Q3 2021[22] - Operating profit for Q3 2022 was CNY 70,890,339.61, a significant recovery from a loss of CNY 24,380,630.62 in the previous year[21] - Earnings per share for Q3 2022 were CNY 0.1392, compared to a loss per share of CNY 0.0478 in the same quarter last year[22] Assets and Liabilities - Total assets at the end of Q3 2022 amounted to ¥2,404,001,638.22, showing a 3.17% increase from the end of the previous year[5] - Total liabilities as of Q3 2022 amounted to CNY 518,811,737.37, slightly up from CNY 516,611,867.91 at the end of the previous year[21] - Total equity attributable to shareholders reached CNY 1,885,189,900.85, an increase from CNY 1,813,530,953.79 year-over-year[21] Cash Flow - The company's cash flow from operating activities showed a net outflow of -¥73,613,358.61, a drastic decrease of 5,990.03% compared to the previous year[5] - Cash inflow from operating activities totaled CNY 532,183,741.84, an increase from CNY 435,802,423.64 in the previous year, representing a growth of 22.2%[25] - Net cash outflow from operating activities was CNY -73,613,358.61, a significant decline compared to a net inflow of CNY 1,249,795.73 in the same period last year[25] - Cash inflow from investment activities amounted to CNY 1,158,477,500.00, compared to CNY 1,053,168,438.45 in the previous year, indicating an increase of 10%[25] - Net cash flow from investment activities was CNY 330,675,006.65, a recovery from a net outflow of CNY -19,884,025.31 in the previous year[25] - Cash inflow from financing activities was CNY 0.00, down from CNY 34,365,880.00 in the previous year[26] - Net cash outflow from financing activities was CNY -11,696,013.92, compared to a net outflow of CNY -18,012,763.90 in the same period last year[26] - The ending cash and cash equivalents balance was CNY 374,156,833.56, a significant increase from CNY 125,371,371.93 at the end of the previous year[26] Inventory and Receivables - The company's inventory increased by ¥122,958,736.65, a growth of 366.99%, due to an increase in business volume and unfinished projects[9] - The company reported an increase in other receivables by ¥80,849,997.02, a growth of 1,249.47%, primarily due to government land acquisition activities[9] - Accounts receivable decreased to CNY 300,118,640.24 from CNY 340,929,631.68[18] - Inventory increased significantly to CNY 306,496,103.02 from CNY 183,537,366.37[18] Shareholder Information - Total number of common shareholders at the end of the reporting period is 27,188[14] - The largest shareholder, Guodian Technology & Environment Group Co., Ltd., holds 22.99% of shares, totaling 119,322,720 shares[15] - The second largest shareholder, Xiongya (Virgin) Limited, holds 18.54% of shares, totaling 96,228,000 shares[15] Research and Development - The company continues to focus on research and development, with R&D expenses totaling CNY 29,731,249.11 in Q3 2022, slightly down from CNY 30,444,115.81 in the same period last year[21] Other Financial Metrics - The investment income decreased by ¥522,791.43, a decline of 69.15%, as the company had no financial product income during the period[10] - The asset disposal income increased by ¥68,451,024.41, a growth of 64,332.59%, due to the completion of land acquisition transactions[11] - Long-term equity investments increased to CNY 90,610,850.57 from CNY 78,403,696.54[18] - The company reported a credit impairment loss of CNY 10,312,098.62, compared to a reversal of CNY 2,733,634.87 in the previous year[21] - Total current assets as of September 30, 2022, amount to CNY 2,069,089,553.06, an increase from CNY 1,979,614,493.05 at the beginning of the year[18] - Cash and cash equivalents decreased to CNY 1,134,683,496.07 from CNY 1,210,907,860.41[18] - Total cash outflow from operating activities was CNY 605,797,100.45, compared to CNY 434,552,627.91 in the previous year, reflecting an increase of 39.3%[25] - The company has not disclosed any new product or technology developments, market expansion, or acquisition strategies in the current report[16]

Financial Performance - The company reported a net profit attributable to shareholders of 5.9474 million yuan for 2021, down from 9.7957 million yuan in 2020 and 13.983 million yuan in 2019, indicating a declining trend in profitability [11]. - The company’s non-recurring profit and loss resulted in a net loss of 24.0959 million yuan in 2019, 18.1024 million yuan in 2020, and a slight profit of 0.1891 million yuan in 2021, highlighting significant financial challenges [11]. - The company reported a net profit attributable to shareholders reached 70.88 million yuan, reflecting a significant year-on-year growth of 605.28% [48]. - The net profit for the first half of 2022 was CNY 70,882,902.96, a turnaround from a net loss of CNY 14,028,506.04 in the first half of 2021 [169]. - The company reported a total of CNY 70,224,839.48 in non-recurring gains, primarily from the disposal of non-current assets and government subsidies [37]. Revenue and Sales - The company's operating revenue for the reporting period was CNY 228,451,679.96, representing a 61.64% increase compared to CNY 141,334,463.78 in the same period last year [33]. - The energy-saving segment generated revenue of 153.62 million yuan, up 117.41% year-on-year [48]. - The plasma ignition business contributed 76.94 million yuan in revenue, marking a 29.24% increase compared to the previous year [48]. - The environmental segment achieved revenue of CNY 42.29 million, a year-on-year decrease of 40.16% [49]. - The new energy segment reported revenue of CNY 32.54 million, a 100% increase year-on-year, with biomass and clean heating businesses each contributing CNY 21.42 million and CNY 11.12 million respectively, both also up 100% [49]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,422,298,839.89, up 3.95% from CNY 2,330,142,821.70 at the end of the previous year [33]. - The company's total liabilities as of June 30, 2022, were CNY 537,596,433.14, compared to CNY 516,611,867.91 at the start of the year [162]. - Cash and cash equivalents decreased to CNY 1,178,454,094.82 from CNY 1,210,907,860.41 [160]. - Accounts receivable rose to CNY 354,344,031.06 from CNY 340,929,631.68 [160]. - Inventory increased significantly to CNY 272,495,469.81 from CNY 183,537,366.37 [160]. Research and Development - The company is actively pursuing technological innovation, with a focus on clean and low-carbon combustion technologies, and has achieved international leading levels in ammonia co-firing technology [7]. - The company has applied for 8 patents during the reporting period, including 3 invention patents [44]. - Research and development expenses for the first half of 2022 were CNY 19,743,557.36, slightly down from CNY 21,493,096.67 in the same period last year, showing a decrease of about 8.1% [169]. - The company holds 341 authorized patents, including 87 domestic invention patents and 20 foreign invention patents, showcasing its technological advantages [51]. - The company is focusing on technological advancements to support its growth strategy moving forward [188]. Investment and Capital Management - The company is exploring investment directions and models for its excess raised funds to improve capital efficiency and overall performance [7]. - The company has unallocated excess funds, which could reduce capital efficiency if not invested wisely [81]. - The company has not utilized any of the raised funds totaling approximately 110.86 million RMB during the reporting period, with a cumulative investment of approximately 66.47 million RMB [66]. - The company reported a total of 66,465 million CNY in raised funds, with 20,000 million CNY allocated for permanent working capital supplementation [69]. - The company has committed to timely disclosures regarding the use of raised funds and any adjustments to project plans as necessary [70]. Shareholder and Stock Information - The company has not declared any cash dividends or stock bonuses for the reporting period, indicating a focus on reinvestment rather than shareholder returns [12]. - The company completed the repurchase and cancellation of part of its restricted stock, reducing the total share capital from 522.4 million shares to 519.12564 million shares [32]. - The company plans to repurchase and cancel a total of 3.27436 million shares of restricted stock at a repurchase price of 3.572 CNY per share due to performance not meeting targets [96]. - The largest shareholder, Guodian Technology & Environment Group Co., Ltd., holds 22.99% of the shares, totaling 119,322,720 shares [147]. - The report indicates that the total number of ordinary shareholders at the end of the reporting period was 26,057 [146]. Market and Competitive Environment - The company is facing risks related to accounts receivable collection due to high coal prices affecting its major customers, with many coal power enterprises experiencing cash flow difficulties [8]. - The company faces risks from intensified market competition, with a focus on expanding oil-saving business applications and optimizing design plans to enhance cost efficiency [79]. - The company is positioned as a leading provider of energy-saving and environmental protection services in the coal-fired power plant industry, with a focus on technological upgrades and market expansion [41]. - The company has a high proportion of related party transactions, with 69.46% of sales to a major client, which is essential for maintaining market leadership [83]. - The company is exploring potential mergers and acquisitions to strengthen its market position [185]. Environmental and Social Responsibility - The company actively participates in ecological environment protection, having detailed 42 tasks in its ecological environment protection work plan [105]. - The company has established a comprehensive occupational health management system and has implemented safety management protocols for project construction, ensuring a stable and safe operation [104]. - The company has not faced any administrative penalties for environmental issues during the reporting period [101]. - The company is committed to maintaining transparency with its shareholders through regular updates and disclosures [87]. - The company has not reported any significant litigation or arbitration matters during the reporting period [113].

Revenue and Profit - Revenue for Q1 2022 was CNY 58,095,330.97, an increase of 28.07% compared to CNY 45,362,096.94 in the same period last year[2] - Total operating revenue for Q1 2022 was CNY 58,095,330.97, an increase of 28.06% compared to CNY 45,362,096.94 in the same period last year[16] - The total revenue for the first quarter was 128,294,645.47 CNY, a decrease from 141,688,014.10 CNY in the previous period, representing a decline of approximately 9.8%[19] - Net profit attributable to shareholders was a loss of CNY 7,310,350.99, a decrease of 6.16% from a loss of CNY 6,886,416.56 year-on-year[2] - The net profit for the first quarter was -7,310,350.99 CNY, compared to -6,886,416.56 CNY in the same period last year, indicating a worsening of approximately 6.1%[17] - The total comprehensive income for the first quarter was -7,310,350.99 CNY, which is a decline from -6,886,416.56 CNY in the same period last year[17] Cash Flow and Assets - Operating cash flow net amount decreased by 340.19%, from CNY 12,122,856.61 to -CNY 29,117,774.75[7] - The cash flow from operating activities was -29,117,774.75 CNY, a significant decline from 12,122,856.61 CNY in the previous year[20] - Cash and cash equivalents at the end of Q1 2022 were CNY 1,186,976,530.24, a decrease of 1.52% from CNY 1,210,907,860.41 at the beginning of the year[12] - The cash inflow from operating activities totaled 135,590,093.35 CNY, while cash outflow was 164,707,868.10 CNY, resulting in a net cash outflow of 29,117,774.75 CNY[20] - The cash and cash equivalents at the end of the period totaled 143,225,255.73 CNY, a decrease from 222,341,214.58 CNY at the end of the previous period, reflecting a decline of approximately 35.5%[20] - Total assets at the end of the reporting period were CNY 2,323,544,915.10, a slight decrease of 0.28% from CNY 2,330,142,821.70 at the end of the previous year[2] - Total assets as of March 31, 2022, were CNY 2,323,544,915.10, a slight decrease from CNY 2,330,142,821.70 at the beginning of the year[14] Costs and Expenses - The company's operating costs increased by CNY 13,386,764.27, a growth of 41.46% year-on-year, primarily due to increased revenue[5] - Total operating costs for Q1 2022 were CNY 67,949,559.10, up 29.06% from CNY 52,629,290.05 in Q1 2021[16] - The net operating profit for Q1 2022 was -CNY 7,327,798.76, slightly worse than -CNY 7,078,982.93 in Q1 2021[16] - Research and development expenses for Q1 2022 were CNY 9,506,267.88, a decrease of 26.06% compared to CNY 12,984,090.91 in Q1 2021[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 27,007[9] - The company's equity attributable to shareholders was CNY 1,806,220,602.80, down from CNY 1,813,530,953.79 at the beginning of the year[14] Other Financial Information - The company received government subsidies amounting to CNY 631,578.22 during the reporting period[4] - The company reported a 90.50% decrease in investment income, down CNY 605,308.58, attributed to no returns from financial products during the period[5] - Prepayments increased by 61.41%, totaling CNY 37,656,920.69, due to payments made to suppliers not yet settled[5] - Other current assets rose by 592.69%, increasing by CNY 4,922,366.69, mainly due to an increase in deductible input tax[5] - The company reported other income of 25,300.06 CNY for the first quarter, compared to 232,353.87 CNY in the previous period, showing a significant decrease[17] - The company did not report any significant new product developments or market expansions during this quarter[21]

Financial Performance - The net profit attributable to shareholders for the years 2019, 2020, and 2021 was 13.98 million, 9.80 million, and 5.95 million respectively, with a net profit of -24.10 million, -18.10 million, and 0.19 million after deducting non-recurring gains and losses[10]. - The company's operating revenue for 2021 was ¥541,774,831.09, an increase of 18.22% compared to ¥458,294,143.63 in 2020[24]. - The net profit attributable to shareholders for 2021 was ¥5,947,373.80, a decrease of 39.29% from ¥9,795,659.02 in 2020[25]. - The net cash flow from operating activities increased by 162.32% to ¥59,054,529.14 in 2021 from ¥22,512,081.81 in 2020[25]. - The basic earnings per share for 2021 was ¥0.0098, down 48.69% from ¥0.0191 in 2020[25]. - The total profit attributable to shareholders decreased by 39.29% to CNY 5.95 million[48]. - The company reported a total revenue of 1,833 million in 2021, showing a significant increase compared to previous years[117]. - The total assets of the company reached 3,300 million, indicating a stable financial position[117]. Business Expansion and Diversification - The company plans to expand its oil-saving business applications and has successfully completed the acceptance of the ultra-high moisture lignite ignition project at Shenhua Victory Power Plant[5]. - The company is actively engaging in clean energy development and utilization to diversify its business types[10]. - The company aims to explore investment directions and models for idle raised funds to enhance overall performance amid risks of prolonged fund idleness[7]. - The company is focusing on expanding its market presence and enhancing its product offerings in the power generation sector[119]. - The company is exploring investment opportunities in low-carbon and renewable energy sectors to diversify its business portfolio[99]. - The company plans to expand its business into coal chemical and non-electric fields, alongside continuous technological innovation[59]. Research and Development - The company has established a clean combustion engineering laboratory with a capacity of 40MW to enhance its technological innovation capabilities[7]. - The R&D investment was 48.93 million yuan, maintaining a high level of investment[43]. - The company has developed core technologies in energy-saving and environmental protection, including plasma ignition and stable combustion technologies, which have been applied to over 1,300 units globally[35]. - The company is developing low-pollutant combustion technology aimed at enhancing market competitiveness[67]. - The company aims to achieve stable ignition technology for coal-water slurry pyrolysis reactors, enhancing future development prospects[68]. - The company is committed to advancing its manufacturing capabilities and expanding its production capacity for power distribution equipment[99]. Market Challenges and Risks - The company is facing risks related to accounts receivable recovery due to significant losses incurred by major customers in the coal power sector[8]. - The company is facing intensified market competition, which is compressing profit margins, and is responding by expanding its oil-saving business applications and engaging in clean energy development[100]. - The company has reported a significant decline in the utilization hours of its main customers, which has contributed to the overall financial challenges faced[104]. - The company has identified risks related to the potential narrowing of its technological lead and is enhancing its innovation system and collaboration with universities to maintain its competitive advantage[101]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholders' rights and interests[108]. - The company has maintained independence in its operations, assets, personnel, and organizational structure, with no reliance on the controlling shareholder for procurement or sales[112]. - The company has established a complete and independent financial management system, including a dedicated financial accounting team and independent bank accounts[113]. - The company has adhered to regulatory guidelines and internal rules to ensure fair decision-making processes[133]. Shareholder Engagement and Compensation - The participation rate of investors in the 2021 first extraordinary general meeting was 46.22%[113]. - The total pre-tax compensation for Chairman Yang Huailiang is 59.26 million CNY, while Vice Chairman Yang Zhiqi received 36.04 million CNY[128]. - The company has a performance-based salary system for senior management, linking their annual salary to net profit and return on equity[127]. - The company proposed no cash dividend distribution for the 2021 fiscal year, despite having a positive profit available for distribution[146]. Environmental and Social Responsibility - The company has established a management mechanism for hazardous waste, ensuring proper handling and adherence to reduction principles[164]. - The company has actively participated in poverty alleviation efforts by utilizing platforms to address the sales difficulties of agricultural products in impoverished areas[168]. - The company has implemented a safety-first approach in project construction, with no safety or pollution incidents reported during the year[167]. Future Outlook - The company has set a future outlook with a revenue target of 1.5 billion RMB for 2022, indicating an expected growth rate of 25%[125]. - The company is exploring partnerships with international firms to enhance its technological advancements and global footprint[125]. - The company anticipates continued growth in revenue and profitability in the upcoming fiscal year[119].

Financial Performance - The company's operating revenue for Q3 2021 was ¥70,699,024.11, a decrease of 30.73% compared to the same period last year[2]. - The net profit attributable to shareholders was -¥9,604,402.70, a decline of 367.31% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥10,377,897.50, a decrease of 469.72% compared to the previous year[2]. - The basic and diluted earnings per share were both -¥0.0205, reflecting a drop of 392.86% year-on-year[2]. - The net profit for the third quarter of 2021 was a loss of CNY 23,632,908.74, compared to a loss of CNY 16,165,267.86 in the same period last year[26]. - The company reported a basic and diluted earnings per share of -0.0478, compared to -0.0315 in the previous period, indicating a decrease in profitability[27]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,199,243,678.95, down 2.60% from the end of the previous year[2]. - The total current assets decreased to CNY 1,922,503,552.79 from CNY 2,050,151,012.49[22]. - The total liabilities increased to CNY 415,177,613.03 from CNY 399,417,308.20 year-over-year[23]. - The company reported a decrease in total equity to CNY 1,784,066,065.92 from CNY 1,858,638,890.73[23]. Cash Flow - The cash flow from operating activities showed a net increase of 118.70%, amounting to ¥1,249,795.73[2]. - The net cash flow from operating activities for the current period is CNY 1,249,795.73, compared to a negative cash flow of CNY -6,684,534.38 in the previous period, indicating a significant improvement[30]. - The total cash inflow from investment activities was CNY 1,053,168,438.45, while cash outflow was CNY 1,073,052,463.76, resulting in a net cash flow from investment activities of CNY -19,884,025.31, a decline from CNY 960,327,270.77 in the previous period[30]. - The total cash and cash equivalents at the end of the period decreased to CNY 125,371,371.93 from CNY 962,545,342.66 at the end of the previous period, reflecting a decline of approximately 87%[31]. - The company’s cash outflow for financing activities was CNY 52,378,643.90, compared to CNY 102,695,263.62 in the previous period, indicating a reduction in financing costs[30]. Investments and Projects - The company's long-term equity investments increased by 100%, totaling ¥77,454,969.18, due to investments in new energy companies[8]. - The company's inventory increased by 34.97%, amounting to ¥61,425,279.12, attributed to more unfinished projects[8]. - The company achieved new contracts in the non-electric sector, including the flue gas treatment project for Citic Jinzhou and the denitrification project for Shandong Laigang[18]. - In the clean energy sector, the company signed geothermal heating projects with Dongying Longyuan and Dongming Zhongji[18]. - The first plasma ignition furnace for the Zimbabwe project has been completed and is ready for shipment[18]. Operational Efficiency - The financial expenses decreased by 51.90%, amounting to a reduction of ¥9,584,742.77, primarily due to increased interest from time deposits[9]. - The net cash flow from financing activities decreased by 82.46%, totaling a reduction of ¥84,682,499.72, mainly due to dividend distributions[10]. - The company established a bulk material procurement team to effectively reduce procurement costs through bargaining advantages[18]. - A comprehensive reform leadership group was formed to accelerate the promotion of reform and transformation for sustainable development[18]. Human Resources - The company introduced 6 technical talents and 3 skilled talents through campus recruitment and interviews[19]. - The company conducted internal training to enhance employees' knowledge and skills, promoting talent development[19]. Shareholder Information - The top 10 shareholders hold a total of 119,322,720 shares (22.83%) and 96,228,000 shares (18.41%) respectively[13]. - The company has a total of 7,534,000 shares under equity incentive lock-up for middle management and key technical personnel[16]. Revenue and Costs - Total revenue for the third quarter of 2021 was CNY 212,033,487.89, compared to CNY 181,056,234.01 in the previous period[25]. - Total operating costs increased to CNY 237,455,718.71 from CNY 224,538,907.70 year-over-year[25]. - Cash received from the sale of goods and services increased to CNY 414,717,985.57, up from CNY 328,461,105.97 in the same period last year, representing a growth of approximately 26.2%[28]. - Cash paid for purchasing goods and services rose to CNY 304,932,651.36 from CNY 247,386,652.79, marking an increase of about 23.3%[30]. Taxation - The company received CNY 70,700.64 in tax refunds, an increase from CNY 32,371.55 in the previous period[28]. Other Financial Information - The company did not report any net profit from the merged entity prior to the merger, with both periods showing CNY 0.00[27]. - The company has not made any adjustments to the initial balance sheet items under the new leasing standards, indicating no significant impact on financial status or cash flow[32].

Financial Performance - The company reported a net profit attributable to shareholders of 8.34 million yuan in 2018, 13.98 million yuan in 2019, and 9.80 million yuan in 2020, with net profits excluding non-recurring gains and losses showing losses of -21.97 million yuan, -24.10 million yuan, and -18.10 million yuan respectively[8]. - The company's operating revenue for the reporting period was ¥141,334,463.78, representing a 78.93% increase compared to ¥78,989,324.44 in the previous period[27]. - The net profit attributable to shareholders was -¥14,028,506.04, an improvement of 29.00% from -¥19,758,303.14 in the prior period[27]. - The net cash flow from operating activities was ¥20,553,480.38, showing a significant increase of 220.42% compared to ¥6,414,504.66 in the previous period[27]. - The total assets at the end of the reporting period were ¥2,224,860,423.68, a decrease of 1.47% from ¥2,258,056,198.93 at the end of the previous year[27]. - The net assets attributable to shareholders decreased by 3.52% to ¥1,793,304,618.62 from ¥1,858,638,890.73 at the end of the previous year[27]. - The company reported non-recurring gains of ¥2,982,354.23, including government subsidies and investment income from financial products[31]. - The company achieved operating revenue of 141.33 million yuan, a year-on-year increase of 78.93%[39]. - The net profit attributable to shareholders was -14.03 million yuan, a year-on-year reduction in losses of 29.00%[39]. - The energy-saving segment generated revenue of 70.66 million yuan, up 38.82% year-on-year, with plasma ignition business revenue at 59.53 million yuan, growing 21.68%[39]. - The environmental protection segment reported revenue of 70.67 million yuan, a significant increase of 153.00% year-on-year, with low-nitrogen combustion business revenue rising by 172.95% to 57.42 million yuan[40]. Research and Development - The company aims to strengthen its innovation system and accelerate the application of innovative results in engineering practices to maintain a competitive edge in the market[6]. - The company has 27 ongoing research projects, including 3 national projects and 8 projects from energy groups[38]. - The company added 20 authorized patents during the reporting period, including 2 invention patents, bringing the total to 307 authorized patents[42]. - Research and development expenses amounted to ¥21,493,096.67, marking a 15.97% increase year-on-year, indicating a commitment to innovation[44]. - The company incurred research and development expenses of CNY 21,493,096.67 in the first half of 2021, compared to CNY 18,534,103.79 in the previous year, reflecting a focus on innovation[146]. Strategic Expansion - The company has secured desulfurization and denitrification projects with Shandong Laigang, Qianfu Mining, and Xingtai Steel, indicating a strategic expansion into the non-electric energy-saving and environmental protection market[5]. - The company is actively working on overseas projects in Zimbabwe, Turkey, and Indonesia, ensuring their smooth execution despite pandemic challenges[5]. - The company is expanding into non-electric fields and intelligent operation software for power plants, enhancing its comprehensive energy-saving capabilities[33]. - The company plans to explore investment directions for excess raised funds to enhance capital efficiency and overall performance[72]. - The company is exploring potential mergers and acquisitions to accelerate growth and market expansion[160]. Market and Competition - The company faces intensified market competition, leading to a potential reduction in profit margins due to increased industry rivalry and declining demand for coal power[71]. - Accounts receivable recovery remains a challenge due to the financial strain on coal power enterprises, necessitating targeted collection strategies[73]. - The company has a high proportion of related party transactions, with 41.66% of sales to China Energy Investment Corporation, which supports its market position[74]. Shareholder and Capital Management - The company will not distribute cash dividends or issue bonus shares, indicating a focus on reinvestment[10]. - The company completed the grant registration of the 2020 restricted stock incentive plan, awarding 9,364,000 shares to 78 incentive objects, increasing total shares from 51,321,600 to 52,258,000[25]. - The total share capital increased from 51,321,600 shares to 52,258,000 shares due to the granting of 9,364,000 restricted stocks[111]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[85]. - The company has not reported any expected inability to recover principal from entrusted financial management[66]. Financial Management and Cash Flow - The company reported a significant decrease in cash and cash equivalents, with a net increase of ¥61,785,759.69, down 92.65% from the previous year, primarily due to increased cash outflows from investment activities[46]. - The company's cash flow from financing activities showed a significant improvement, with a net outflow of -¥18,012,763.90, down 82.46% compared to the previous year, indicating better management of financing activities[46]. - The company reported a total investment cash inflow of CNY 1,047,976,716.61, while the cash outflow for investment activities was CNY 988,731,673.40, resulting in a net cash flow from investment activities of CNY 59,245,043.21[150]. - The financing activities resulted in a net cash outflow of ¥18,012,763.90, compared to a net outflow of ¥102,695,263.62 in the previous period, showing an improvement in financing cash flow[154]. Compliance and Governance - The company has not faced any penalties or rectification issues during the reporting period[94]. - The company has not changed its consolidation scope compared to the end of the previous year, which includes one subsidiary, Guoneng Longyuan (Yantai) Heat Exchange Equipment Co., Ltd.[169]. - The financial statements are prepared based on the assumption of going concern, indicating the company expects to have sufficient resources to continue operations for the next 12 months[171]. - The company adheres to the accounting standards for enterprises, ensuring that the financial statements reflect its financial position, operating results, and cash flows accurately[173].

Financial Performance - The company's operating revenue for Q1 2021 was ¥45,362,096.94, representing a 353.48% increase compared to ¥10,003,096.23 in the same period last year[9]. - The net profit attributable to shareholders was a loss of ¥6,886,416.56, an improvement of 54.71% from a loss of ¥15,205,532.60 in the previous year[9]. - The net cash flow from operating activities was ¥12,122,856.61, a significant increase of 260.77% compared to a negative cash flow of ¥7,540,307.12 in the same period last year[9]. - The company's total revenue for the first quarter increased by 353.48% compared to the same period last year[37]. - The net profit attributable to the parent company grew by 54.71% year-on-year[37]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,258,826,329.73, showing a slight increase of 0.03% from ¥2,258,056,198.93 at the end of the previous year[9]. - Total liabilities increased to CNY 407,073,855.56 from CNY 399,417,308.20, which is an increase of about 1.7%[46]. - The total equity attributable to shareholders decreased to CNY 1,851,752,474.17 from CNY 1,858,638,890.73, reflecting a decline of approximately 0.4%[47]. - The company's contract liabilities increased significantly to CNY 79,788,769.02 from CNY 43,198,268.17, showing an increase of about 84.5%[46]. Cash Flow - The net cash flow from operating activities increased by CNY 19,663,163.76, a growth of 260.77%, driven by higher cash receipts from sales of goods and services[20]. - Cash flow from operating activities was reported at ¥141,688,014.10, up from ¥107,520,930.46 in the previous period, indicating stronger cash generation[61]. - The net cash flow from investment activities was ¥48,199,992.56, a recovery from a negative cash flow of ¥24,545,123.28 in the previous year[63]. - The cash and cash equivalents at the end of Q1 2021 were ¥222,341,214.58, significantly higher than ¥79,640,021.91 at the end of Q1 2020, marking an increase of about 178.5%[63]. Operational Highlights - The company's weighted average return on equity improved to -0.37%, up by 0.41% from -0.78% in the previous year[9]. - The company achieved an operating revenue of CNY 45,362,100, a year-on-year increase of 353.48%, with significant contributions from complete project revenues and spare parts sales[21]. - The first boiler payment of USD 322.17 million for the Hwange Power Plant project has been received, indicating progress in international projects[21]. - The company is focusing on enhancing internal management and project control to improve profitability and operational efficiency[24]. Research and Development - R&D expenses increased by CNY 4,239,712.67, a growth of 48.49%, attributed to reduced costs in the previous year due to the pandemic[18]. - In Q1 2021, the company added 17 authorized patents, including 2 invention patents and 15 utility model patents[25]. Market and Competition - The company reported a risk of intensified market competition, with a decline in coal power installed capacity growth and reduced demand for environmental upgrades, impacting profit margins[26]. - The company faces a risk of reduced technological advantages if it fails to continue innovation, emphasizing the need for collaboration with research institutions and enhancing talent development[26]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 29,531, with the top 10 shareholders holding a combined 45.10% of the shares[13]. - The company has a high proportion of related party transactions with the State Energy Investment Group, which supports its market position in clean combustion technology[28]. Government Support and Investments - The company received government subsidies amounting to ¥887,779.17 during the reporting period[10]. - The company has committed to investing CNY 5,000 million in a plasma low NOx combustion promotion project, achieving 100% of the planned investment[33]. Financial Management - The financial expenses showed a significant reduction, with a net financial cost of -¥10,539,492.68 compared to -¥155,926.57 previously, indicating improved financial management[53]. - The company did not report any cash inflow from financing activities during this quarter[66].

Financial Performance - The net profit attributable to shareholders for 2018-2020 was 8.34 million, 13.98 million, and 9.80 million RMB respectively, while the net profit after deducting non-recurring gains and losses was -21.97 million, -24.10 million, and -18.10 million RMB[10]. - The company reported a decline in traditional business gross margins, indicating ongoing challenges in the competitive market[10]. - The company's operating revenue for 2020 was ¥458,294,143.63, a decrease of 10.72% compared to ¥513,336,356.69 in 2019[22]. - The net profit attributable to shareholders for 2020 was ¥9,795,659.02, down 29.95% from ¥13,983,044.70 in 2019[22]. - The total profit amounted to 9.91 million yuan, down 28.17% compared to the previous year[35]. - The company reported a basic earnings per share of ¥0.0191 for 2020, a decrease of 29.78% from ¥0.0272 in 2019[22]. - The company’s weighted average return on equity was 0.51% in 2020, down from 0.70% in 2019[22]. - The company reported a total revenue of 458.29 million yuan, a year-on-year decrease of 10.72%[35]. - The energy-saving segment generated revenue of 136.72 million yuan, a decrease of 21.23%[36]. - The environmental protection segment achieved revenue of 321.57 million yuan, down 5.35% year-on-year[36]. Investment and R&D - The company is committed to strengthening its innovation system and enhancing collaboration with research institutions to maintain its technological advantage[7]. - The company has secured new orders worth ¥25,590.39 million in the energy-saving and environmental protection engineering sector during the reporting period[60]. - The company’s research and development expenses increased by 14.71% to ¥41,419,683.61 in 2020 compared to ¥36,108,278.69 in 2019[67]. - The company invested CNY 63,726,112.47 in R&D in 2020, representing 13.91% of its operating revenue, an increase from 10.77% in 2019[71]. - The number of R&D personnel increased to 179 in 2020, accounting for 31.18% of the total workforce, up from 29.02% in 2019[71]. - The company is currently implementing several key R&D projects, including ultra-low NOx combustion technology, which is in the demonstration project phase[69]. - The company has established a comprehensive numerical simulation platform to provide advanced solutions for intelligent operation and flexible peak regulation of coal-fired units[95]. Market Strategy and Expansion - The company has established an overseas business department to implement its overseas strategy, focusing on projects in Zimbabwe, Turkey, and Indonesia[6]. - The company is actively expanding its plasma ignition and stable combustion technology applications, achieving demonstration projects with Shenhua Victory Power Plant and Ledong Power Plant[33]. - The company is expanding its market presence in non-electric sectors, targeting coal chemical, mining, steel, and cement industries for energy-saving and emission-reduction projects[96]. - The company plans to enhance its marketing strategy by focusing on LNG cold energy utilization and biomass co-firing technologies[96]. - The company anticipates an increase in the penetration and consumption ratio of renewable energy sources such as wind and solar power during the 14th Five-Year Plan period[94]. Corporate Governance and Compliance - The company has maintained compliance with all commitments made to minority shareholders[116]. - The company has not engaged in any competitive investments that would violate its commitments[115]. - The company has not reported any standard audit report issues for the recent period[118]. - The company has not undergone any bankruptcy restructuring during the reporting period[124]. - The company has not engaged in any high-risk financial management activities during the reporting period[142]. - The board of directors consists of 9 members, including 3 independent directors, and operates in accordance with legal regulations[200]. Shareholder Returns - The company will distribute a cash dividend of 1 RMB per 10 shares to all shareholders, with no bonus shares issued[11]. - The total cash dividend for 2020 was CNY 51,321,600, which accounted for 523.92% of the net profit attributable to ordinary shareholders[114]. - The company emphasizes a stable and continuous profit distribution policy, prioritizing cash dividends to ensure reasonable returns for investors[107]. Risk Management - The company has faced risks related to accounts receivable recovery due to pressures on major clients in the coal power sector, which may affect cash flow[8]. - The company's accounts receivable recovery remains under pressure due to significant challenges faced by major clients in the coal power sector, including high costs and declining electricity prices[101]. - The company is addressing the risk of market competition by expanding its application of plasma ignition and stable combustion technologies[99]. Social Responsibility and Sustainability - The company has actively participated in public welfare activities, showcasing its commitment to social responsibility[150]. - The company is focusing on sustainability initiatives, aiming to reduce carbon emissions by 25% over the next three years[183]. - The company has established a management mechanism for hazardous waste, ensuring proper handling and adherence to reduction and resource utilization principles[154]. Legal Matters - The company is involved in several legal disputes, with a total amount in litigation of approximately 3,500,000 RMB related to intellectual property infringement[127]. - The company has reached settlements in various disputes, including a payment of 240,180 RMB from Shandong Runyin Biochemical Co., Ltd., which is currently being executed[127].

Financial Performance - Operating revenue for the reporting period was CNY 102,066,909.57, down 12.26% year-on-year, and year-to-date revenue decreased by 35.38% to CNY 181,056,234.01[9] - Net profit attributable to shareholders was CNY 3,593,035.28, an increase of 72.20% compared to the same period last year[9] - The basic earnings per share for the reporting period was CNY 0.0070, an increase of 70.73% compared to the same period last year[9] - Operating profit increased to ¥3,370,233.20 from ¥857,851.42, showing a significant improvement[39] - Net profit for the current period is ¥3,593,035.28, compared to ¥2,060,956.65 in the previous period, reflecting an increase of approximately 74.5%[39] - Total operating revenue decreased to ¥181,056,234.01 from ¥280,183,816.47, representing a decline of approximately 35.3% year-over-year[46] - Operating profit showed a loss of ¥16,753,247.80 compared to a loss of ¥17,488,741.99 in the previous period, indicating a slight improvement[47] - The company reported a total comprehensive loss of ¥16,165,267.86, compared to a loss of ¥15,676,219.13 in the previous period[49] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,199,107,065.52, a decrease of 1.13% compared to the end of the previous year[9] - The total liabilities rose to CNY 366,429,101.67 from CNY 272,017,558.59, indicating an increase of about 34.8%[31] - The company's total equity decreased to CNY 1,832,677,963.85 from CNY 1,952,303,434.12, a reduction of about 6.1%[32] - The total current liabilities increased to CNY 352,260,042.82 from CNY 255,029,858.38, reflecting an increase of approximately 38.2%[31] - The company has a long-term liability of CNY 16,987,700.21, which includes estimated liabilities of CNY 1,341,000.00[67] - The total liabilities and owner's equity combined also equaled CNY 2,224,320,992.71, indicating a balanced sheet[67] Cash Flow - The company reported a net cash flow from operating activities of CNY -13,099,039.04, a decrease of 53.00% year-on-year[9] - The company's cash and cash equivalents increased by ¥857,701,144.82, a growth of 667.54% compared to the beginning of the year, primarily due to the maturity of financial products[19] - The net cash flow from investing activities increased by ¥2,105,375,685.97, a growth of 183.87%, due to a decrease in the amount spent on financial products[20] - Cash inflow from investment activities totaled CNY 1,351,609,430.90, compared to CNY 1,471,653,243.80 in the previous period[56] - Cash and cash equivalents at the end of the period reached CNY 962,545,342.66, up from CNY 45,850,775.06 in the previous period[57] Revenue Recognition and Accounting Changes - The company executed a new revenue recognition standard starting January 1, 2020, impacting the reporting of inventory and contract assets[67] - The company has implemented new revenue and leasing standards starting January 1, 2020, without retrospective adjustments[72] - Contract assets increased by CNY 87,052,777.09 as of January 1, 2020, due to the new revenue recognition standard[72] Shareholder Information - The top shareholder, Guodian Technology & Environment Group Corporation, holds 23.25% of the shares, amounting to 119,322,720 shares[15] - The company reported an undistributed profit of CNY 666,015,711.52 as of Q3 2020[71] Other Financial Metrics - The company reported a credit impairment loss of ¥11,123,625.01, compared to a gain of ¥3,939,211.13 in the previous period, indicating a significant shift in credit quality[38] - Research and development expenses remained stable at ¥11,482,898.74, slightly up from ¥11,053,562.26, indicating continued investment in innovation[38] - Investment income decreased to ¥3,695,052.25 from ¥15,141,259.89, a decline of about 75.6%[42]