股票代码：300105 股票简称：龙源技术 编号：临2020-056 烟台龙源电力技术股份有限公司关于 参加投资者网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准 确、完整，没有虚假记载、误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流，烟台龙源电力技术 股份有限公司（以下简称"公司"）将参加由山东证监局、 山东上市协会与深圳市全景网络有限公司联合举办的山东 辖区上市公司投资者网上接待日活动。具体公告如下： 活动时间：2020 年 9 月 29 日 15:00-16:55 活动形式：网络远程 活动网址：全景·路演天下 http://rs.p5w.net 出席人员：董事会秘书兼总会计师刘克冷先生、证券事 务代表张天怡女士 届时公司将通过在线方式与投资者就公司治理、经营状 况、发展战略等方面进行交流互动。欢迎广大投资者积极参 与！ 特此公告。 烟台龙源电力技术股份有限公司董事会 二〇二〇年九月二十五日 ...

Financial Performance - The company reported a net profit attributable to shareholders of 15.99 million yuan in 2017, 8.34 million yuan in 2018, and 13.98 million yuan in 2019, with a continuous decline in net profit after deducting non-recurring gains and losses, reaching -13.67 million yuan, -21.97 million yuan, and -24.10 million yuan respectively[7]. - The company's operating revenue for the reporting period was CNY 78.99 million, a decrease of 51.79% year-on-year[22]. - The net profit attributable to shareholders was CNY -19.76 million, down 11.20% compared to the previous year[22]. - The net profit after deducting non-recurring gains and losses was CNY -33.71 million, a decline of 38.85% year-on-year[22]. - The net cash flow from operating activities was CNY 6.41 million, a decrease of 40.20% compared to the previous year[22]. - The total assets at the end of the reporting period were CNY 2.17 billion, down 2.46% from the end of the previous year[22]. - The net assets attributable to shareholders were CNY 1.83 billion, a decrease of 6.15% year-on-year[22]. - The company reported a significant drop in other receivables, which fell to CNY 10,425,323.26 from CNY 24,378,981.60, a decrease of about 57.25%[138]. - The company reported a net loss for the first half of 2020 of CNY 19,758,303.14, compared to a net loss of CNY 18,057,408.66 in the first half of 2019, representing an increase in loss of 9.4%[148]. - The total comprehensive income for the first half of 2020 was -19,502,330.83 CNY, compared to -17,180,195.49 CNY in the same period of 2019, indicating a decline[151]. Revenue Segments - The energy-saving segment generated revenue of CNY 50.90 million, a decline of 29.28% year-on-year[31]. - The environmental protection segment reported revenue of CNY 27.93 million, a decrease of 69.60% year-on-year[31]. - The low-nitrogen combustion business within the environmental protection segment saw revenue increase by 96.08% to CNY 21.04 million[31]. - The energy-saving segment generated revenue of 5,090.09 CNY, down 29.28% compared to the previous year, with plasma ignition business revenue at 4,892.84 CNY, a decrease of 3.11%[43]. - The environmental protection segment reported revenue of 2,793.39 CNY, a decline of 69.60%, while low-nitrogen combustion business revenue increased by 96.08% to 2,103.65 CNY[43]. Investment and R&D - R&D expenses increased by 4.07% to 18.53 million yuan, with a total of 30 ongoing projects, including 4 national projects[40]. - The company holds 313 authorized patents, including 86 domestic invention patents and 20 foreign invention patents, reflecting its strong R&D capabilities[36]. - The company is focusing on innovative technologies such as LNG cold energy power generation and Allam cycle power generation systems, with ongoing research and development efforts[40]. - The company plans to enhance its innovation system and strengthen cooperation with universities and research institutions to maintain its technological edge[78]. - The company has allocated 5 million for new technology development in the upcoming fiscal year[68]. Market Position and Strategy - The company faces risks from increasing market competition, with a focus on developing differentiated competitive advantages through advancements in coal powder combustion control technology and exploring new technologies[3]. - The company plans to expand its non-electric business, achieving performance in projects such as plasma ignition in rotary kilns and denitrification in the steel industry[3]. - The company is actively pursuing overseas projects related to oil-saving ignition, achieving certain progress in this area[3]. - The company is exploring potential mergers and acquisitions to strengthen its market position[68]. - The company aims to improve its profitability through strategic cost management and operational improvements[167]. Financial Management - The company has not declared any cash dividends or stock bonuses for the reporting period[8]. - The company is addressing the risk of idle raised funds by exploring investment directions and models for corporate transformation and upgrading[5]. - The company has acknowledged the risk of idle raised funds and aims to explore investment directions to improve capital efficiency[78]. - The company has not engaged in any major asset or equity sales during the reporting period[74]. - The company has not conducted any asset or equity acquisition or sale transactions during the reporting period[97]. Operational Challenges - The company faced negative impacts from the COVID-19 pandemic, affecting overall business operations and revenue generation[30]. - The company is facing pressure on accounts receivable recovery due to the impact of the COVID-19 pandemic, with efforts to enhance collection strategies and communication with clients[5]. - The company has reported a decrease in electricity consumption due to the COVID-19 pandemic, impacting its accounts receivable recovery[78]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 20,529[120]. - The largest shareholder, Guodian Technology & Environment Group Co., Ltd., holds 23.25% of shares, totaling 119,322,720 shares[120]. - The second largest shareholder, Xiongya (Virgin) Limited, holds 18.75% of shares, totaling 96,228,000 shares[120]. - The company has a total of 513,216,000 shares, with 100% being unrestricted shares[117]. - The company did not issue any new shares or conduct any share buybacks during the reporting period[117]. Legal and Compliance - The company has no significant litigation or arbitration matters during the reporting period[89]. - The company is involved in a contract dispute with Beijing Zhengshi Tongchuang Environmental Engineering Technology Co., Ltd., with a claim amount of 6.707 million yuan[90]. - The company has initiated arbitration against Beijing Luoka Environmental Technology Co., Ltd. for a claim of 3.81 million yuan, which is currently in progress[90]. - The company has a total of 1.19187 million yuan in ongoing arbitration cases against Liaoning Datang International Fuxin Coal-to-Gas Co., Ltd.[90]. Environmental and Social Responsibility - The company is committed to sustainability and aims to reduce its carbon footprint by 20% over the next five years[68]. - The company has established a management mechanism for hazardous waste, adhering to reduction and resource utilization principles[111]. - The company does not belong to the key pollutant discharge units as per environmental protection regulations[111]. - The company has not initiated any poverty alleviation programs and has no plans for such initiatives[112].

Financial Performance - Total revenue for Q1 2020 was ¥10,003,096.23, a decrease of 82.92% compared to ¥58,573,888.21 in the same period last year[9] - Net profit attributable to shareholders was -¥15,205,532.60, an improvement of 26.62% from -¥20,720,220.98 year-on-year[9] - Basic and diluted earnings per share were both -¥0.0296, reflecting a 26.73% improvement from -¥0.0404 in the same period last year[9] - The company's operating revenue for the reporting period was 10.0031 million yuan, a decrease of 82.92% year-on-year, primarily due to the impact of the COVID-19 pandemic[21] - The company reported a net profit attributable to shareholders of 13.98 million yuan for 2019, but a continuous loss in net profit after deducting non-recurring gains and losses, with figures of -13.67 million yuan, -21.97 million yuan, and -24.10 million yuan for the last three years[31] - Total operating revenue for the current period is CNY 10,003,096.23, a significant decrease from CNY 58,573,888.21 in the previous period[53] - Net profit for the current period is a loss of CNY 15,205,532.60, compared to a loss of CNY 20,831,289.79 in the previous period, indicating an improvement[55] - Total comprehensive income for the current period is a loss of CNY 15,077,950.18, compared to a loss of CNY 21,040,349.78 in the previous period, indicating a reduction in losses[56] Cash Flow - Net cash flow from operating activities was -¥7,540,307.12, showing a 50.11% improvement from -¥15,113,335.88 in the previous year[9] - Operating cash inflow for the current period reached ¥110,286,855.81, an increase from ¥90,442,779.24 in the previous period, reflecting a growth of approximately 22%[62] - The net cash flow from investment activities was -¥24,545,123.28, significantly better than -¥726,632,591.56 in the previous period, showing a substantial reduction in cash outflow[66] - The company reported a net increase in cash and cash equivalents of -¥31,957,847.98, compared to -¥741,965,630.27 in the previous period, showing a significant improvement[63] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,201,980,678.83, a decrease of 1.00% from ¥2,224,320,992.71 at the end of the previous year[9] - Total liabilities as of March 31, 2020, were CNY 264,755,194.89, down from CNY 272,017,558.59, reflecting a decrease of about 2.3%[47] - The total equity attributable to shareholders decreased to CNY 1,937,225,483.94 from CNY 1,952,303,434.12, a decline of approximately 0.77%[48] - The company’s total liabilities and equity amounted to CNY 2,201,980,678.83, consistent with the total asset value, indicating a balanced financial position[48] Shareholder Information - The company had a total of 21,710 common shareholders at the end of the reporting period[13] - The largest shareholder, Guodian Technology & Environment Group Corporation, held 23.25% of the shares[13] Operational Adjustments - The company has implemented a project management enhancement initiative, improving project control and evaluation processes[26] - The company is actively pursuing overseas projects, particularly in Southeast Asia, to mitigate the impact of domestic market challenges[26] - The company has developed a flexible and open "2+1" training system to cultivate high-quality professional talent[27] - The company is focusing on innovation in combustion control technology and exploring new technologies to maintain a competitive edge[28] Cost Management - The company's management expenses decreased by 5.4667 million yuan, a reduction of 36.41% year-on-year, primarily due to lower social security and travel expenses during the pandemic[18] - The company has maintained a focus on cost control, with a reduction in sales and management expenses compared to the previous period[54] Investment and Fund Management - The company achieved a total fundraising amount of 110,862.15 million yuan, with cumulative investment of 58,764.74 million yuan by the end of the reporting period[34] - The company plans to use idle raised funds of 30.35 million RMB for structured deposits with Shizuishan Bank[37] - The remaining raised funds amounting to 443,971,500 RMB will be properly arranged according to the company's development plan[36] Compliance and Governance - The company has no violations regarding external guarantees during the reporting period[39] - There are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[40] - The first quarter report for 2020 was not audited[73]

Financial Performance - The net profit attributable to shareholders for the years 2017, 2018, and 2019 was 15.9864 million, 8.3404 million, and 13.9830 million RMB respectively, while the net profit after deducting non-recurring gains and losses was -13.6689 million, -21.9692 million, and -24.0959 million RMB[10]. - The company's operating revenue for 2019 was ¥513,336,356.69, representing a 10.67% increase compared to ¥463,838,041.94 in 2018[21]. - The net profit attributable to shareholders for 2019 was ¥13,983,044.70, a significant increase of 67.65% from ¥8,340,387.16 in 2018[21]. - The net cash flow from operating activities decreased by 83.39% to ¥15,899,660.02 from ¥95,742,240.43 in 2018[21]. - The basic earnings per share for 2019 was ¥0.0272, up 66.87% from ¥0.0163 in 2018[21]. - The total profit reached 1,379.08 million yuan, reflecting a significant year-on-year growth of 91.38%[36]. - Net profit attributable to shareholders was 1,398.30 million yuan, up 67.65% compared to the previous year[36]. - The company reported a net profit of ¥29,664,395.48 in Q4 2019, compared to a loss of ¥20,720,220.98 in Q1 2019[23]. Revenue and Growth - The company achieved operating revenue of 51,333.64 million yuan, a year-on-year increase of 10.67%[36]. - The environmental protection segment generated revenue of 33,975.91 million yuan, a year-on-year increase of 56.47%[37]. - The flue gas treatment business under the environmental protection segment saw revenue of 16,522.83 million yuan, a remarkable growth of 395.48%[37]. - The energy-saving segment generated revenue of 173.58 million yuan, a decline of 29.64% year-on-year[52]. - The environmental protection segment reported revenue of 339.76 million yuan, marking a 56.47% increase year-on-year[53]. - The flue gas treatment business under the environmental protection segment saw revenue growth of 395.48%, reaching 165.23 million yuan[53]. Innovation and Development - The company plans to enhance its innovation system and accelerate the application of innovative results in engineering practices to maintain a competitive edge in the market[7]. - The company is focusing on expanding its non-electric sector and has initiated several plasma ignition projects in the mining and chemical industries[10]. - The company is currently in the demonstration phase for several key R&D projects, including low-pollutant combustion technology and plasma ignition technology[69]. - The company holds 314 authorized patents, including 89 domestic invention patents and 20 foreign invention patents[41]. - The company added 33 new authorized patents during the reporting period, including 7 invention patents, bringing the total to 314 authorized patents[68]. Market Strategy and Expansion - The company is actively pursuing overseas projects, including a plasma project in Zimbabwe, to expand its market presence and explore new revenue streams[6]. - The company signed contracts for plasma projects in Zimbabwe and continued to promote small intelligent plasma ignition devices[32]. - The company plans to accelerate overseas business development and project implementation, leveraging its established brand influence in international markets[51]. - The company aims to strengthen its market marketing capabilities and enhance project management to address the reduction in new contracts and unfavorable profit contribution structure[97]. - The company is focusing on technological innovation, with ongoing projects including key technologies for plasma ignition and low nitrogen emissions[98]. Financial Management and Investment - The company aims to improve the efficiency of its idle raised funds by identifying investment directions and models for corporate transformation and upgrading[7]. - The company plans to continue using idle funds for financial management, expecting sustainable returns[38]. - The company reported a total investment of RMB 66,465 million, with a commitment to invest in plasma energy-saving and environmental protection projects[86]. - The company achieved an investment income of RMB 1,828.29 million from structured financial products purchased with raised funds during the reporting period[143]. - The company is committed to enhancing project management and audit processes to improve construction quality and ensure compliance with regulations[100]. Risk Management - The company has faced risks related to accounts receivable recovery due to high coal prices and the impact of the COVID-19 pandemic on industrial operations[8]. - The company is focused on improving collection strategies for accounts receivable, especially in light of pressures from high coal prices and the impact of the pandemic on operations[104]. - The company reported a credit impairment loss of 24,431,056.21 yuan, an increase of 177.15% due to the reversal of bad debt provisions[75]. - The company increased its collection efforts on overdue receivables, resulting in a significant reduction in credit impairment losses year-on-year[54]. Shareholder Returns and Dividends - The company has proposed a profit distribution plan to distribute a cash dividend of 2 RMB per 10 shares to all shareholders[10]. - The cash dividend payout ratio for 2019 was 734.05% of the net profit attributable to the parent company, reflecting a significant return to shareholders[119]. - The cash dividend for 2019 is the first distribution after two years of no dividends, indicating a recovery in financial performance[117]. - The company has maintained compliance with its profit distribution policy and has provided opportunities for minority shareholders to express their opinions[115]. Corporate Governance and Compliance - The company emphasizes the importance of compliance management and legal training to reduce operational risks and enhance governance[100]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[124]. - The company has retained the same accounting firm, with an audit fee of 480,000 RMB for the current year[130]. - The company has not faced any bankruptcy reorganization issues during the reporting period[130]. - The company is dedicated to maintaining transparency and accountability in its financial reporting and corporate governance practices[197].

Financial Performance - The company's operating revenue for 2019 was CNY 513,336,356.69, representing a 10.67% increase compared to CNY 463,838,041.94 in 2018[18]. - The net profit attributable to shareholders for 2019 was CNY 13,983,044.70, a significant increase of 67.65% from CNY 8,340,387.16 in the previous year[18]. - The company reported a basic earnings per share of CNY 0.0272, an increase of 66.87% from CNY 0.0163 in 2018[18]. - Total profit reached 13.79 million yuan, up 91.38% year-on-year, while net profit attributable to shareholders was 13.98 million yuan, reflecting a 67.65% increase[33]. - The company reported a total revenue of 605.3 million CNY for the year 2019, reflecting a significant increase compared to the previous year[121]. Cash Flow and Assets - The net cash flow from operating activities decreased by 83.39% to CNY 15,899,660.02, down from CNY 95,742,240.43 in 2018[18]. - The total assets at the end of 2019 were CNY 2,224,320,992.71, a decrease of 3.74% from CNY 2,310,667,319.24 at the end of 2018[18]. - The company’s cash and cash equivalents decreased by 89.50% compared to the beginning of the period, primarily due to investments in financial products[35]. - The company’s inventory decreased by 36.21% compared to the beginning of the period, attributed to increased operating revenue and costs[35]. - The company reported a credit impairment loss of 18.0 million CNY for the year, reflecting the impact of the new financial instrument standards[125]. Innovation and R&D - The company plans to enhance its innovation system and accelerate the application of innovative results in engineering practices to maintain competitive advantages[7]. - The company is focusing on developing differentiated products through breakthroughs in intelligent combustion optimization and high-temperature corrosion prevention technologies[6]. - The company holds 314 authorized patents, including 89 domestic invention patents and 20 foreign invention patents, reflecting its strong technological capabilities[39]. - Research and development expenses increased by 14.86% to ¥36,108,278.69 compared to the previous year[65]. - The company’s R&D investment amounted to ¥55,306,774.82, which is 10.77% of the operating revenue, up from 9.58% in 2018[67]. Market and Business Expansion - The company has signed projects in Zimbabwe and is actively pursuing other overseas energy-saving ignition projects[6]. - The company has expanded its business into non-electric fields and signed contracts for plasma ignition projects in Zimbabwe and other overseas regions[29]. - The company is actively promoting LNG cold energy utilization technology and exploring cooperation in energy conservation and waste disposal with coal chemical enterprises[30]. - The company plans to accelerate overseas business expansion and project implementation, leveraging its brand influence developed over more than a decade in international markets[96]. - The company is focusing on technological innovation, with ongoing projects including key technologies for high moisture lignite boilers and plasma ignition systems[97]. Profit Distribution and Shareholder Relations - The company proposed a cash dividend of 2 CNY per 10 shares for the 2019 fiscal year, totaling 102,643,200 CNY, which represents 100% of the total profit distribution[112]. - The company maintained a stable profit distribution policy, ensuring a minimum of 30% of the average distributable profit over the last three years is distributed as cash dividends[107]. - The company emphasizes a proactive profit distribution approach to ensure reasonable returns for investors[107]. - The company has a clear and transparent decision-making process for profit distribution, ensuring the rights of minority shareholders are protected[112]. - The company reported a net profit available for distribution to ordinary shareholders of 648,495,582.82 CNY, with the cash dividend amounting to 734.05% of the net profit attributable to ordinary shareholders[116]. Operational Challenges and Risks - The company is facing risks related to accounts receivable recovery due to high coal prices and the impact of the COVID-19 pandemic on industrial operations[8]. - The company is addressing the risk of idle raised funds by exploring investment directions and models for corporate transformation and upgrading[102]. - The company faces significant operational pressure in the short term due to overall oversupply in the thermal power industry[92]. - The company is implementing targeted strategies to enhance accounts receivable collection amid pressures from high coal prices and the impact of the pandemic on industrial electricity consumption[103]. - The company faces risks from intensified market competition and a decline in new thermal power installations, which may limit market space[101]. Corporate Governance and Management - The company has appointed Xinyong Zhonghe Accounting Firm as its internal control auditing firm, with an audit fee of 480,000 RMB and a continuous service period of 2 years[127]. - The company has appointed experienced independent directors with backgrounds in finance and engineering, enhancing governance and oversight[199]. - The management team includes professionals with extensive experience in the energy sector, contributing to strategic decision-making[200]. - The company has maintained a stable leadership structure, with key positions filled by individuals with significant industry experience[195][198]. - The company experienced management changes, including the resignation of several executives in 2019 due to work-related transitions[194]. Social Responsibility and Community Engagement - The company emphasizes its commitment to social responsibility and community engagement, aligning with its core values of integrity and innovation[163]. - The company actively participates in social welfare activities, including blood donation drives and environmental initiatives[165]. - The company has established a waste management mechanism for harmful waste, ensuring proper disposal and adherence to reduction and resource utilization principles[167]. - The company has implemented a safety production responsibility system, signing contracts annually to ensure safety standards across over 100 projects, all of which operated smoothly during the reporting period[164]. - The company has not initiated any precision poverty alleviation programs and has no plans for such initiatives in the future[166].

Financial Performance - Operating revenue for the reporting period was CNY 116,329,233.20, representing a year-on-year increase of 19.31%[9] - Net profit attributable to shareholders was CNY 2,086,587.36, a significant increase of 129.43% compared to the same period last year[9] - Basic earnings per share for the reporting period were CNY 0.0041, an increase of 129.71% compared to the same period last year[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -14,468,555.64, a decrease of 2.76% year-on-year[9] - The company anticipates a potential net loss for the year due to changes in project composition and a decline in gross profit margin[22] - The net profit for the third quarter was CNY 2,060,956.65, compared to a net loss of CNY 7,389,002.64 in the same period last year, indicating a significant turnaround[40] - The operating profit for the quarter was CNY 857,851.42, a recovery from a loss of CNY 7,405,047.38 in the previous year[40] - The total comprehensive income for the quarter was CNY 2,389,130.45, compared to a loss of CNY 6,889,787.93 in the same period last year[40] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,197,982,486.79, a decrease of 4.88% compared to the end of the previous year[9] - The company's total assets as of September 30, 2019, were CNY 2,213,403,163.64, down from CNY 2,323,605,361.06 at the end of 2018, a decrease of about 4.7%[36] - Total liabilities decreased to CNY 269,490,611.94 in Q3 2019 from CNY 364,361,549.62 in the previous year, a reduction of approximately 26.1%[35] - The total equity attributable to shareholders was CNY 1,943,912,551.70, down from CNY 1,959,243,811.44, a decline of about 0.8%[36] - Total liabilities amounted to CNY 366,319,183.92, with current liabilities at CNY 351,779,963.05 and non-current liabilities at CNY 14,539,220.87[62] - The total liabilities to equity ratio stands at approximately 0.19, indicating a relatively low level of leverage[62] Cash Flow - The company reported a net cash flow from operating activities of CNY -17,146,033.93, a decrease of 197.85% year-on-year[9] - Cash and cash equivalents decreased significantly to CNY 51,753,088.50 from CNY 1,211,424,744.93, a drop of approximately 95.7%[33] - The cash flow from operating activities for Q3 2019 was approximately ¥353.60 million, down from ¥459.86 million in Q3 2018, indicating a decrease in cash inflow[52] - The net cash flow from investment activities was -¥1,145,048,415.20, compared to -¥800,268,591.07 in the previous period, showing a significant increase in cash outflow[54] - The net increase in cash and cash equivalents was -¥1,161,873,231.56, worsening from -¥805,552,311.30 in the previous period[55] Orders and Projects - The total number of new orders for energy-saving and environmental protection projects during the reporting period was 24, amounting to CNY 14,395.66 million[12] - The company had 109 orders on hand at the end of the reporting period, with a total value of CNY 42,873.53 million[12] Expenses - Total operating costs for Q3 2019 were CNY 129,801,165.60, up from CNY 104,170,191.70, indicating an increase of about 24.8%[38] - Research and development expenses for Q3 2019 amounted to CNY 11,053,562.26, compared to CNY 9,651,356.42 in the previous year, reflecting a rise of approximately 14.5%[38] - The company's research and development expenses for Q3 2019 were approximately ¥28.86 million, an increase from ¥24.71 million in the previous year, reflecting a focus on innovation[50] Income and Gains - Other income increased by 93.15% to ¥2,434,206.04, driven by higher government subsidies received[19] - Investment income rose by 33.55% to ¥5,126,419.40, attributed to increased investment financial products compared to the previous year[19] - The investment income for the quarter was CNY 15,141,259.89, compared to CNY 7,340,045.79 in the same period last year, indicating improved performance in investments[42] Financial Management - The company's cash and cash equivalents decreased by 94.82% compared to the beginning of the year, amounting to ¥63,365,828.99, primarily due to investments in financial products[18] - Accounts receivable decreased by 42.83% to ¥114,111,803.36, attributed to the amount of received notes being less than the due collection and endorsement transfer[18] - Other receivables increased by 721.39% to ¥13,981,607.21, mainly due to accrued interest from investment financial products[18] - Other current assets surged by 30,048.58% to ¥1,151,570,905.22, reflecting an increase in investment financial products[18] - The company reported a credit impairment loss of ¥200,051.12 in Q3 2019, compared to a loss of -¥10.76 million in the previous year, suggesting improved credit risk management[50] Regulatory and Reporting Changes - The company is implementing new financial and revenue recognition standards starting from 2019, which may impact future financial reporting[59] - The report for the third quarter was not audited, indicating that the figures are preliminary[73]

Financial Performance - Total revenue for the first half of 2019 was ¥163,854,583.27, a decrease of 8.11% compared to ¥178,307,872.23 in the same period last year[21]. - Net profit attributable to shareholders was -¥17,767,938.14, representing a decline of 1,081.33% from a profit of ¥1,810,596.26 in the previous year[21]. - The net cash flow from operating activities decreased by 73.59%, amounting to ¥10,726,427.46 compared to ¥40,608,187.29 in the prior year[21]. - Total assets at the end of the reporting period were ¥2,218,319,243.45, down 4.00% from ¥2,310,667,319.24 at the end of the previous year[21]. - The net assets attributable to shareholders decreased by 0.92%, totaling ¥1,924,047,114.31 compared to ¥1,941,822,993.37 at the end of the last year[21]. - The company achieved operating revenue of 163.85 million yuan, a year-on-year decrease of 8.11%[30]. - The total profit was -18.01 million yuan, a year-on-year decrease of 1,607.52%[30]. - The company reported a cumulative net profit forecast of -32 million yuan for the year, indicating a significant decrease of 413.35% compared to the previous year[89]. - The basic earnings per share are expected to be -0.0624 yuan, reflecting a decline of 413.35% year-on-year[89]. - The company anticipates a net profit of -13.95 million yuan for the third quarter, a decrease of 88.79% compared to the same period last year[89]. Research and Development - The company will focus on technology innovation and the establishment of a research platform in collaboration with universities and research institutions[8]. - The company added 11 new authorized patents during the reporting period, enhancing its technological advantage[35]. - The company invested CNY 17.81 million in R&D, an increase of 18.28% year-on-year[48]. - The company has made significant progress in the R&D of high moisture lignite plasma ignition and stable combustion technology, overcoming several technical challenges[41]. - The company has initiated research and development for new products aimed at increasing competitiveness in the energy sector[176]. - The company is investing 200 million RMB in R&D for new energy technologies, expecting to launch two new products by the end of 2020[198]. Market Strategy and Expansion - The company plans to enhance its international business capabilities and explore overseas marketing models to address increasing market competition[6]. - The company is actively expanding its overseas market, particularly focusing on the plasma ignition project at the Troitskaya Power Plant in Russia, and pursuing potential projects in Poland, India, and Turkey[43]. - The company is focusing on expanding its market opportunities in response to changes in national environmental policies[30]. - The company plans to expand its market presence by entering three new regions by the end of the year, aiming for a 5% market share in each[74]. - The company plans to expand its market presence in the Asia-Pacific region, targeting a 15% market share by 2025[76]. - The company plans to properly arrange the use of remaining excess raised funds of ¥443,971,500.00 according to its development plan[65]. Financial Management - The company will not distribute cash dividends or issue bonus shares for the reporting period[9]. - The company aims to utilize excess raised funds effectively to enhance overall performance and avoid idle capital risks[8]. - The company has unallocated excess funds from fundraising, which could reduce capital efficiency if not invested wisely[91]. - The company has not encountered any issues or other situations regarding the use and disclosure of raised funds[66]. - The company has completed the low NOx combustion promotion project and marketing network construction project, although they do not generate direct economic benefits[65]. - The company reported a significant increase in other receivables from CNY 1,702,188.51 to CNY 6,411,982.74, an increase of about 276.56%[140]. Operational Efficiency - The company has implemented strict cost control measures and improved bidding strategies to enhance market competitiveness[40]. - The company aims to improve its operational efficiency and reduce costs in the upcoming quarters to enhance profitability[168]. - The company has implemented new strategies to enhance operational efficiency, aiming for a 5% reduction in operational costs by the end of the year[199]. - The company has adjusted its organizational structure to enhance operational efficiency and management levels[45]. User Engagement and Market Performance - User data showed a significant growth, with a 50.7% increase in user engagement metrics[74]. - The company reported a significant increase in revenue, with a total of 1.5 billion RMB for the first half of 2019, representing a 20% year-over-year growth[198]. - The company reported a 25% increase in user data, with active users reaching 1 million by the end of the reporting period[197]. - The user base grew by 12% in the last quarter, reaching a total of 1.5 million active users[78]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 30,034[123]. - The largest shareholder, Guodian Technology & Environment Group Co., Ltd., holds 23.25% of shares, totaling 119,322,720 shares[123]. - The total number of shares is 513,216,000, with no changes in restricted shares[121]. - There are no changes in the controlling shareholder or actual controller during the reporting period[127]. Future Outlook - Future outlook indicates a projected revenue growth of 35.9% for the next fiscal year, driven by new product launches[74]. - The company has set a target for a 5% increase in revenue for the second half of 2019, focusing on strategic partnerships and market expansion[176]. - The company anticipates a revenue growth of 15% for the next quarter, driven by increased demand for its products[196]. - The company plans to enhance its digital services, expecting a 4.5% increase in digital revenue streams[74].

Financial Performance - Total operating revenue for Q1 2019 was ¥58,573,888.21, an increase of 20.43% compared to ¥48,636,831.97 in the same period last year[9]. - Net profit attributable to shareholders was -¥20,720,220.98, a decrease of 150.83% from -¥8,260,769.42 year-on-year[9]. - The net loss for Q1 2019 was ¥20,831,289.79, compared to a net loss of ¥8,536,126.20 in Q1 2018, representing a significant increase in losses[51]. - The total comprehensive loss for Q1 2019 was -¥21,040,349.78, compared to -¥8,929,881.19 in Q1 2018, highlighting a worsening financial position[52]. - Operating profit was -¥20,497,334.22, a decline from -¥9,143,302.20 in the same quarter last year, indicating increased operational challenges[51]. Cash Flow - Net cash flow from operating activities was -¥15,113,335.88, representing a decline of 706.78% compared to -¥1,873,299.19 in the previous year[9]. - Cash received from sales decreased by 41.32%, amounting to a reduction of ¥61,009,407.46, attributed to a decrease in inventory receivables[20]. - Operating cash inflow for the current period was CNY 90,442,779.24, a decrease of 41.3% from CNY 154,245,167.62 in the previous period[56]. - Cash outflow from operating activities totaled CNY 105,556,115.12, down 32.5% from CNY 156,118,466.81 in the previous period[58]. - The company recorded a decrease in cash flow from operating activities, indicating potential challenges in revenue generation[58]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,259,265,321.32, down 2.22% from ¥2,310,667,319.24 at the end of the previous year[9]. - Total liabilities amounted to CNY 366,319,183.92, with current liabilities at CNY 351,779,963.05[66]. - Total equity decreased from CNY 1,944,348,135.32 to CNY 1,923,307,785.54, a decline of approximately 1.1%[44]. - Current liabilities decreased from CNY 351,779,963.05 to CNY 322,157,053.20, a reduction of about 8.5%[43]. - Non-current liabilities remained stable at CNY 13,800,482.58 compared to CNY 14,539,220.87, showing a slight decrease of 5.1%[43]. Revenue and Costs - The company's operating costs increased by 45.52% year-on-year, amounting to an increase of ¥15,318,100.39 due to higher revenue and a decline in comprehensive gross profit margin[18]. - Total operating costs rose to ¥80,368,841.11, up 36.7% from ¥58,748,723.66 year-over-year[49]. - The gross profit margin decreased, with a gross profit of -¥21,794,952.90, indicating a challenging cost environment[51]. - Research and development expenses were ¥6,771,894.65, slightly down from ¥7,847,149.51 in the previous year, reflecting ongoing investment in innovation[49]. Investments and Patents - The company obtained 8 authorized patents during the reporting period, including 1 invention patent and 7 utility model patents, bringing the total to 306 authorized patents[21]. - The company achieved a total fundraising amount of 110,862.15 million yuan, with 58,728.58 million yuan already invested[32]. - The company is focusing on the development of ultra-low NOx combustion technology, with several key projects in experimental and simulation stages[24]. - The company is currently in the experimental phase for several key R&D projects, including low-pollutant combustion technology and small plasma ignition devices[22]. Market and Competition - The company is facing intensified market competition, which is compressing profit margins and limiting market space[27]. - The company is actively expanding its marketing efforts in the thermal power industry, particularly in energy-saving and environmental protection sectors[25]. - The top five suppliers have changed, with no significant impact on the company's operations reported[23]. Financial Management - The company is addressing the risk of idle raised funds by exploring investment directions in corporate transformation and upgrades[28]. - The company is committed to improving accounts receivable collection strategies to mitigate risks associated with cash flow[29]. - The company has implemented cost control measures, ensuring that project costs remain within budget and enhancing operational efficiency[25]. Other Information - The company has established a comprehensive career development pathway for employees, focusing on management and professional skills[26]. - The first quarter report was not audited[73].

Financial Performance - The company's operating revenue for 2018 was ¥463,838,041.94, a decrease of 22.17% compared to ¥595,959,880.29 in 2017[20]. - The net profit attributable to shareholders for 2018 was ¥8,340,387.16, down 47.83% from ¥15,986,370.32 in 2017[20]. - The weighted average return on net assets for 2018 was 0.37%, down from 0.71% in 2017[20]. - The total profit was 7.21 million yuan, down 49.73% year-on-year[40]. - The company reported a revenue of 463.84 million yuan, a year-on-year decrease of 22.17%[40]. - The total profit amounted to 7.21 million yuan, down 49.73% year-on-year, while net profit attributable to shareholders was 8.34 million yuan, a decline of 47.83%[47]. - The energy-saving segment generated revenue of 247 million yuan, a decrease of 44.09% year-on-year, with the waste heat utilization business reporting no revenue, down 152 million yuan[47]. - The environmental protection segment reported revenue of 217 million yuan, an increase of 40.34% year-on-year, driven by low-nitrogen combustion business revenue of 150 million yuan, up 79.90%[48]. Cash Flow and Investments - The net cash flow from operating activities improved significantly to ¥95,742,240.43, a 230.17% increase from -¥73,553,267.42 in 2017[20]. - In 2018, the company's operating cash inflow increased by 30.09% to ¥759,539,929.49, primarily due to an increase in cash collections from matured receivables[63]. - Investment cash inflow increased by 33.89% to ¥2,895,407,543.64, mainly due to a significant increase in cash from recovered financial investments[63]. - The company's investment cash outflow rose by 81.63% to ¥2,872,990,727.55, primarily due to increased principal payments for purchased financial products[63]. - The company reported a total of 10,000 million CNY in self-owned funds for guaranteed income financial products with a return rate of 4.55%[132]. Research and Development - The company added 47 new authorized patents during the reporting period, including 12 invention patents, bringing the total to 299 authorized patents[42]. - The company's R&D expenditure amounted to ¥44,454,372.15, representing 9.58% of operating revenue, an increase from 8.55% in 2017[61]. - The company established joint laboratories with Xi'an Jiaotong University and Northeast Electric Power University to explore new technologies[41]. - The company emphasizes innovation by collaborating with universities and research institutions to create an open innovation platform and accelerate the application of new technologies[89]. Market Strategy and Competition - The company plans to enhance its international business capabilities and explore overseas marketing models to address increasing market competition[6]. - The company has strengthened its market presence in overseas markets, particularly in Indonesia and India, enhancing its brand recognition internationally[42]. - The company plans to strengthen market development by leveraging existing technology advantages in the thermal power sector to expand into non-electric fields such as chemicals and mining[88]. - The company faces risks from intensified market competition and must focus on technological innovation and customer-centric strategies to maintain its competitive edge[91]. Profit Distribution and Shareholder Relations - The company will not distribute cash dividends or issue bonus shares for the year[8]. - The company proposed no profit distribution for the fiscal year 2018, with a total cash dividend of 0.00 yuan[101]. - The total distributable profit for the reporting period was 638,839,602.78 yuan, but no dividends were declared[105]. - The company has not distributed any cash dividends for the past three years, including 2016, 2017, and 2018[103]. - The board of directors emphasized that the profits were insufficient to cover previous losses, leading to no proposed cash distribution[105]. Governance and Compliance - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties during the reporting period, with no violations reported[106]. - The company has made changes to accounting policies in accordance with the Ministry of Finance's revised financial reporting formats, affecting several balance sheet and income statement items[110]. - The company has established a management mechanism for hazardous waste, adhering to principles of reduction, harmlessness, and resource utilization[141]. - The company has a fully independent business system, with no reliance on the controlling shareholder for procurement or sales[187]. Employee and Management Structure - The total number of employees in the company is 567, with 558 in the parent company and 9 in major subsidiaries[176]. - The company has implemented a dynamic salary management system that emphasizes performance-based incentives and aligns with annual business strategies[178]. - The average annual salary for senior management is linked to net profit and return on equity, with performance bonuses based on annual assessments[173]. - The company completed 117 training projects in 2018, with a focus on professional technical training accounting for 37% of the total[179]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[166]. - The financial outlook for 2019 indicates a projected growth rate of approximately 3.5% based on current market trends[134]. - The company plans to enhance its investor relations efforts to better communicate its growth strategies and performance metrics[166].

Financial Performance - The company's operating revenue for 2018 was approximately ¥463.84 million, a decrease of 22.17% compared to ¥595.96 million in 2017[20]. - The net profit attributable to shareholders for 2018 was approximately ¥8.34 million, down 47.83% from ¥15.99 million in 2017[20]. - The weighted average return on net assets for 2018 was 0.37%, down from 0.71% in 2017[20]. - The total profit was 7.21 million yuan, down 49.73% year-on-year[40]. - The company achieved operating revenue of 464 million yuan, a decrease of 22.17% compared to the same period last year[47]. - The total profit amounted to 7.21 million yuan, down 49.73% year-on-year, while the net profit attributable to shareholders was 8.34 million yuan, a decline of 47.83%[47]. - The energy-saving segment generated revenue of 247 million yuan, a decrease of 44.09%, with waste heat utilization business reporting no revenue, down 152 million yuan[47]. - The environmental protection segment reported revenue of 217 million yuan, an increase of 40.34%, driven by low-nitrogen combustion business which grew by 67 million yuan[48]. - The company's revenue from the plasma ignition business was 156 million yuan, an increase of 15.20% year-on-year[51]. - The revenue from the economizer business was 69 million yuan, a decrease of 34.19% compared to the previous year[51]. - The company maintained a gross profit margin of 31.45%, despite a decline in overall revenue[57]. Cash Flow and Investments - The net cash flow from operating activities improved significantly to approximately ¥95.74 million, a 230.17% increase from -¥73.55 million in 2017[20]. - In 2018, the company's operating cash inflow increased by 30.09% to ¥759,539,929.49, primarily due to an increase in cash collections from matured receivables[65]. - The company achieved a significant increase in investment cash inflow by 33.89% to ¥2,895,407,543.64, mainly due to the recovery of principal and income from financial products[65]. - The net increase in cash and cash equivalents decreased by 76.58% to ¥118,661,373.43, compared to ¥506,564,503.68 in 2017[65]. - The company reported an increase in prepayments by 21.81% year-on-year, reflecting a rise in customer payments for projects not yet completed[66]. - The company reported a significant reduction in investment, with total investment amounting to 8,999,799.93 yuan, a decrease of 66.14% compared to the previous year[74]. Research and Development - The company added 47 new authorized patents during the reporting period, including 12 invention patents, bringing the total to 299 authorized patents[42]. - The company's R&D expenditure amounted to ¥44,454,372.15, representing 9.58% of operating revenue, an increase from 8.55% in 2017[62]. - The company has established strategic partnerships with universities to enhance collaborative innovation, including a research station with Northeast Electric Power University[60]. - The company has allocated 10,000 million for new technology research and development to enhance operational efficiency[134]. - The R&D expenditure for new technologies and products was approximately 150 million RMB, accounting for 12.5% of total revenue[167]. Market Strategy and Expansion - The company plans to enhance its international business capabilities and explore overseas marketing models to address increasing market competition[6]. - The company intends to broaden the investment direction of its raised funds to enhance overall performance[7]. - The company aims to enhance market development capabilities by focusing on customer needs and expanding into non-electric sectors such as chemicals and mining[88]. - The company plans to expand its market presence through strategic partnerships and new product development initiatives in 2019[134]. - The company anticipates a revenue growth of 10% in 2019, driven by new product launches and market expansion efforts[134]. Risk Management - The company faces risks related to the collection of accounts receivable due to the ongoing impact of domestic energy supply-side reforms[7]. - The company is experiencing increased pressure on accounts receivable recovery due to the domestic energy supply-side reform and high coal prices affecting profitability[93]. - The company faces risks from intensified market competition, with a focus on technological innovation to create barriers and product differentiation[91]. - The company is facing risks related to the narrowing of its technological advantages, emphasizing the need for continuous innovation and collaboration with research institutions[92]. Shareholder and Governance - The company will not distribute cash dividends or issue bonus shares for the year[8]. - The profit distribution policy prioritizes cash dividends, with a commitment to distribute at least 30% of the average distributable profit over the last three years[97]. - The company did not distribute profits or increase capital reserves in 2017 and 2018, with a total distributable profit of approximately 638.84 million yuan[102][104]. - The company has maintained a consistent policy of not distributing profits over the past three years, reflecting a focus on reinvestment[104]. - The company emphasizes the importance of shareholder engagement in profit distribution discussions, ensuring that minority shareholders' rights are protected[99]. Compliance and Internal Control - The company has established an independent financial department with a complete accounting system, ensuring no interference from the controlling shareholder[188]. - The company has a fully independent business system, with no reliance on the controlling shareholder for procurement or sales[187]. - The company has maintained compliance with governance regulations, with no administrative measures taken by regulatory authorities[185]. - No significant internal control deficiencies were identified during the reporting period, indicating effective internal governance[199]. Employee and Management - The total number of employees in the company is 567, with 558 in the parent company and 9 in major subsidiaries[176]. - The company has implemented a dynamic salary management system that emphasizes performance-based incentives and aligns with annual business strategies[178]. - The average annual salary for senior management is linked to net profit and return on equity, with performance bonuses based on annual assessments[173]. - The company completed 117 training projects in 2018, with a focus on professional technical training accounting for 37% of the total[179]. - The company has established a performance evaluation and incentive mechanism for senior management, linking their compensation to net profit and return on equity[198].