Financial Performance - Operating revenue for the reporting period was CNY 27,850,268.70, a decrease of 32.41% year-on-year, while year-to-date revenue increased by 38.83% to CNY 119,887,913.68[10] - Net profit attributable to shareholders decreased by 78.59% to CNY 3,315,070.86 for the reporting period, but increased significantly by 1,723.56% year-to-date to CNY 25,718,856.37[10] - Basic earnings per share for the reporting period was CNY 0.02, down 77.78%, while year-to-date earnings per share increased by 1,400.00% to CNY 0.15[10] - Total operating revenue for the current period is ¥27,850,268.70, a decrease of 32.4% from ¥41,203,016.51 in the previous period[39] - Net profit for the current period is ¥3,316,826.47, a decline of 78.8% compared to ¥15,699,201.24 in the previous period[41] - The net profit for the current period was CNY 25,408,333.45, a significant increase from CNY 1,295,518.93 in the same period last year, reflecting a growth of approximately 1,961%[50] - The total profit for the current period was CNY 25,994,123.06, up from CNY 2,294,373.71 in the previous year[50] - The total comprehensive income for the current period was CNY 25,408,333.45, compared to CNY 1,295,518.93 in the previous year[50] Cash Flow - The company reported a net cash flow from operating activities of CNY -8,848,044.95, a decrease of 545.63% year-to-date[10] - The cash flow from operating activities showed a net outflow of CNY -8,848,044.95, compared to a net inflow of CNY 1,985,530.15 in the previous period[54] - The net cash flow from operating activities for the third quarter was ¥39,090,764.84, an increase of 123.0% compared to ¥17,516,043.95 in the same period last year[59] - The company received cash from sales of goods and services amounting to ¥51,222,034.99, an increase of 97.5% compared to ¥25,977,749.49 in the previous year[59] - The company reported a cash outflow of ¥1,346,181,430.00 related to investment activities, which increased from ¥752,000,000.00 in the previous year[56] - The company’s cash flow from financing activities included cash outflows of ¥30,635,262.97 for other financing activities, which was not reported in the previous year[56] Assets and Liabilities - Total assets at the end of the reporting period decreased by 5.04% to CNY 1,327,348,051.86 compared to the end of the previous year[10] - The total current assets decreased from 706,530,595.08 to 666,213,381.61, a decline of approximately 5.2%[32] - Total liabilities decreased from 600,314,112.13 to 530,649,609.81, a reduction of about 11.6%[34] - The company's equity increased slightly from 797,425,371.57 to 796,698,442.05, a decrease of about 0.1%[34] - The total non-current assets decreased from 691,208,888.62 to 661,134,670.25, a decline of about 4.3%[33] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 3,801[14] - The largest shareholder, Hangzhou Guanghengyu Equity Investment Partnership, held 21.88% of the shares, totaling 38,730,000 shares[14] - The company has repurchased a total of 1,966,300 shares, accounting for 1.11% of the total share capital, with a total payment of approximately 29.24 million yuan[21] Operating Costs and Income - Operating costs rose by 54.73% year-on-year, primarily due to the cost recognition from completed waste heat power generation projects[18] - The company reported a 75.12% increase in investment income year-on-year, driven by higher returns from financial products[18] - Non-operating income for the reporting period included a gain from debt restructuring of CNY 2,979,885.68[12] - Research and development expenses decreased by 100% year-on-year, as there were no ongoing R&D projects during the reporting period[18] Other Financial Metrics - The weighted average return on net assets for the reporting period was 0.42%, a decrease of 1.09% compared to the previous year[10] - The company's cash and cash equivalents decreased by 36.38% compared to the beginning of the year, primarily due to increased investments in financial products and payments to suppliers[18] - Accounts receivable increased by 48.43% compared to the beginning of the year, mainly due to the increase in factoring receivables from Shanghai Yisida and accounts receivable from Golmud Shenguang[18] - Inventory saw a substantial decrease from 79,891,230.07 to 19,804,992.01, a drop of approximately 75.2%[32] - The company reported a negative retained earnings of -158,745,125.78, improving from -184,463,982.15[34]

Financial Performance - Total operating revenue for the reporting period reached ¥92,037,644.98, representing a 103.84% increase compared to the same period last year[19]. - Net profit attributable to shareholders was ¥22,403,785.51, a significant turnaround from a loss of ¥14,075,205.97 in the previous year, marking a 259.17% increase[19]. - Basic earnings per share improved to ¥0.13, compared to a loss of ¥0.12 per share in the same period last year, reflecting a 262.50% increase[19]. - The company achieved operating revenue of 92.04 million yuan, a year-on-year increase of 103.84%[30]. - Net profit attributable to shareholders was 22.40 million yuan, up 259.17% year-on-year, marking a turnaround from loss to profit[30]. - The company reported a net profit of 500,176.08 CNY for the period, with a revenue of 3,250,240.21 CNY, indicating a strong performance in its operations[64]. - The company expects a cumulative net profit of 2,500 to 2,950 million CNY for the year, representing a significant increase of 141.04% compared to the previous year[68]. - The basic earnings per share are projected to rise from 0.14 to 0.17 CNY, marking an increase of 1,300% year-on-year[68]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥1,338,753,669.36, a decrease of 4.22% from the end of the previous year[19]. - The net assets attributable to shareholders increased to ¥793,037,254.47, up 3.10% from the previous year[19]. - The asset-liability ratio improved to 38.87%, a decrease of 4.08 percentage points from the beginning of the period[31]. - Total liabilities as of the end of the reporting period were CNY 120,993,177.22, down from CNY 188,304,342.51 at the end of the previous year[143]. - Long-term borrowings decreased from CNY 395,000,000.00 to CNY 380,000,000.00, a decrease of about 3.8%[135]. - The total equity increased from CNY 797,425,371.57 to CNY 818,380,654.58, an increase of approximately 2.4%[136]. Cash Flow - The net cash flow from operating activities was negative at -¥11,475,495.98, worsening by 123.53% compared to the previous year[19]. - Cash and cash equivalents decreased by 88.71 million yuan, a decline of 1,002.51% year-on-year, primarily due to changes in cash flow from investment activities[36]. - The cash inflow from operating activities totaled CNY 74,731,375.02, an increase of 61.5% compared to CNY 46,252,447.39 in the previous period[151]. - The cash inflow from investment activities reached CNY 973,121,652.15, significantly higher than CNY 616,761,552.33 in the previous period[152]. - The total cash and cash equivalents at the end of the period decreased to CNY 39,126,045.05 from CNY 206,353,581.20 in the previous period[152]. Investment and Projects - The company has a total of 4 major energy-saving and environmental protection projects with a total investment of ¥2,041.36 million[41]. - The company recorded an investment income increase of 187.28% year-on-year, attributed to higher returns from financial products[32]. - The company utilized CNY 3,600 million of raised funds for the Kashgar Feilong energy management project, which is currently operational[54]. - A total of CNY 23,800 million was used to acquire 100% equity of Golmud Shenguang New Energy Co., Ltd., which is also operational[54]. - The company has committed to investing 8,000 million in working capital, with 100.00% of this amount already utilized[52]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company’s actual controller and chairman, Mr. Liu Zhendong, has increased his shareholding by 1,179,239 shares, accounting for 1% of the total share capital as of February 7, 2018[103]. - A total of 3,950,060 shares have been purchased by directors and senior management, representing 2.23% of the total share capital, with a cumulative transaction amount exceeding RMB 70 million[104]. - The company’s total capital stock increased to 17,700 thousand shares after the capital reserve conversion, reflecting a growth strategy in shareholder equity[170]. Operational Challenges and Risks - The company faces significant risks in new business development, particularly in finding profitable new projects while maintaining existing operations[70]. - The company's waste heat power generation business did not secure new orders during the reporting period, indicating a loss of competitive advantage in the market[70]. - The solar power station subsidiary is under operational pressure due to weather factors and delayed settlement of photovoltaic subsidies, which could impact performance[70]. - There is a risk of stock suspension if the company continues to report losses for the 2018 fiscal year, as per Shenzhen Stock Exchange regulations[71]. Governance and Compliance - The company has established a governance structure with a board of directors and various departments to enhance operational efficiency[171]. - The financial statements are prepared based on the going concern principle and comply with the accounting standards issued by the Ministry of Finance[174]. - The company confirms that it has the ability to continue as a going concern for at least 12 months from the reporting date[175]. - The semi-annual financial report has not been audited[79]. - There were no significant litigation or arbitration matters during the reporting period[81]. Financial Management - The total amount of entrusted financial management reached 35,280 million yuan, with no overdue amounts reported[57]. - The company has invested 21,500 million yuan in brokerage financial products sourced from idle raised funds, all of which are currently not overdue[57]. - The annualized return on the entrusted financial products ranges from 4.65% to 5.20%, with expected returns of 23.25 million yuan to 130 million yuan[57]. - The company does not reverse impairment losses for equity instruments classified as available-for-sale[200].

Financial Performance - The company's operating revenue for 2017 was ¥112,684,305.11, a decrease of 30.70% compared to ¥162,605,434.80 in 2016[16] - The net profit attributable to shareholders was -¥264,247,685.99, representing a decline of 324.44% from -¥62,258,325.98 in the previous year[16] - The basic earnings per share for 2017 was -¥2.24, a decline of 322.64% from -¥0.53 in 2016[16] - The operating profit was -26.52 million yuan, representing a decline of 229.10% year-on-year[35] - The net profit attributable to shareholders was -26.42 million yuan, a decrease of 324.44% compared to the same period last year[35] - The company reported a net profit of -264,247,685.99 CNY for the year 2017, with a parent company net profit of -263,749,725.62 CNY[91] - In 2017, the net profit attributable to ordinary shareholders was -264,247,685.99 CNY, compared to -62,258,325.98 CNY in 2016, indicating a significant loss increase[94] Cash Flow and Assets - The net cash flow from operating activities was ¥5,041,325.62, down 93.17% from ¥73,770,516.42 in 2016[16] - The company's total assets at the end of 2017 were ¥1,397,739,483.70, a decrease of 19.40% from ¥1,734,183,287.80 at the end of 2016[16] - The net assets attributable to shareholders decreased by 25.57% to ¥769,216,286.57 from ¥1,033,463,972.56 in 2016[16] - The company's cash and cash equivalents decreased from CNY 177,214,732.77 to CNY 145,075,116.46, a drop of approximately 18.1%[200] - The total current assets decreased from RMB 859.248 million to RMB 706.531 million, a decline of approximately 18%[196] Operational Challenges - The company faced significant operational risks due to weather factors affecting its solar power plants and high loan burdens[4] - The company did not achieve any new orders in the waste heat power generation market during the reporting period, indicating a risk in market expansion[4] - The company is currently facing challenges in improving operational performance and achieving profitability in new business areas[5] - The company has not secured any new orders for waste heat power generation projects during the reporting period, indicating market expansion challenges[88] Business Strategy and Investments - The company plans to distribute a capital reserve bonus of 5 shares for every 10 shares held, with no cash dividends[5] - The company aims to optimize its asset structure by reducing costs and exiting non-core business areas, achieving a significant reduction in accounts payable by 38.02%[32] - The company invested CNY 45 million in Beijing Huashu Kang Data Technology Co., holding a 3.0005% stake, as part of its business transformation strategy[32] - The company established Shanghai Yishida Commercial Factoring Co., with a registered capital of CNY 50 million, holding 80% equity, to explore new business directions[32] - The company plans to enhance risk management and control systems to mitigate potential risks associated with new business expansions and existing operational challenges[87] Revenue Breakdown - The revenue from the waste heat power generation business decreased by 43.55% year-on-year, contributing 52.52% to total revenue[41] - The photovoltaic power generation business revenue was 53.22 million yuan, accounting for 47.23% of total revenue, with a year-on-year decrease of 7.35%[41] - The company's revenue from the waste heat power generation business was ¥59,187,050.47, a decrease of 43.55% year-on-year, with a gross margin of 25.19%[45] - The photovoltaic power generation business generated revenue of ¥53,219,053.00, down 7.35% year-on-year, with a gross margin of 45.78%[45] - Energy services revenue increased by 58.24% year-on-year to ¥40,021,306.01, with a gross margin of 21.23%[45] Shareholder and Governance - The proposed profit distribution plan for 2017 includes a capital reserve increase of 5 shares for every 10 shares held, based on a total share capital of 118,000,000 shares[92] - The company has not distributed any cash dividends in the reporting period, maintaining a cash dividend ratio of 0.00%[91] - The company has retained the same accounting firm, Deloitte Touche Tohmatsu, for two consecutive years, with an audit fee of 550,000 CNY[100] - The company has a complete corporate governance structure, ensuring compliance with relevant laws and regulations[165] - The company maintains independence from its controlling shareholder in business, personnel, assets, and finance[167] Employee and Management - The total remuneration paid to the current directors, supervisors, and senior management during the reporting period amounted to 2.5181 million yuan[156] - The company has a total of 132 employees, with 41 in the parent company and 91 in major subsidiaries[159] - The company has established a competitive salary structure aligned with its operational performance goals[161] - Employee training programs are designed to align with the company's strategic development and individual needs[162] Legal and Compliance - The company is involved in significant litigation, with amounts at stake including ¥18.74 million and ¥13.31 million for disputes with Shenzhen Kelu Energy Service Co., Ltd. and Jiangxi Hengda New Energy Technology Co., Ltd. respectively[101] - The total amount of other litigation matters is ¥17.49 million, which remains unresolved[101] - The company has complied with environmental regulations and has not faced any penalties during the reporting period[124] - The company has not engaged in any related party transactions during the reporting period[104] Future Outlook - The company has outlined a future outlook with a revenue growth target of 15% for 2018, driven by new product launches and market expansion initiatives[146] - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2018[146] - The company is committed to sustainability and plans to increase its investment in renewable energy projects by 20% in the upcoming fiscal year[146]

Financial Performance - Total revenue for Q1 2018 reached ¥38,154,891.09, representing a 105.42% increase compared to ¥18,574,056.67 in the same period last year[8] - Net profit attributable to shareholders was ¥9,392,868.62, a significant turnaround from a loss of ¥12,423,872.60 in the previous year, marking a 175.60% improvement[8] - The net profit after deducting non-recurring gains and losses was ¥3,909,353.48, compared to a loss of ¥12,407,875.39 last year, reflecting a 131.51% increase[8] - Basic earnings per share improved to ¥0.08 from a loss of ¥0.11, indicating a 172.73% increase[8] - The weighted average return on equity was 1.21%, up from -1.21% in the previous year, showing a 2.42% improvement[8] - The company's operating revenue for the first quarter reached 38.15 million yuan, a year-on-year increase of 105.42%, with waste heat power generation contributing 25.91 million yuan (67.92%) and photovoltaic power generation contributing 12.24 million yuan (32.08%) [21] - The net profit attributable to shareholders was 9.39 million yuan, representing a year-on-year increase of 175.60%, with basic earnings per share of 0.08 yuan, up 172.73% [21] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,370,123,391.96, a decrease of 1.98% from ¥1,397,739,483.70 at the end of the previous year[8] - Net assets attributable to shareholders increased by 1.41% to ¥780,026,337.58 from ¥769,216,286.57 at the end of the previous year[8] - Cash and cash equivalents decreased by 51.82% compared to the beginning of the period, primarily due to increased payments for supplier invoices and investment in financial products [20] - Accounts receivable increased by 45.86% compared to the beginning of the period, mainly due to an increase in factoring receivables from Shanghai Yishida [20] - The total assets of the company decreased from 1.40 billion yuan to 1.37 billion yuan, a decline of about 2.4%[38] - The total liabilities decreased from 600.31 million yuan to 564.48 million yuan, a reduction of approximately 6.0%[39] Cash Flow - The company's cash and cash equivalents decreased from 175.78 million yuan at the beginning of the period to 84.70 million yuan at the end of the period, a decline of approximately 51.8%[37] - The total cash inflow from operating activities was CNY 22,150,095.87, an increase from CNY 17,190,781.93 in the previous period[53] - The cash flow from investing activities showed a net outflow of CNY 46,950,050.69, compared to a net outflow of CNY 19,570,710.97 in the previous period[54] - The cash and cash equivalents at the end of the period were CNY 41,143,063.02, down from CNY 160,393,407.27 at the end of the previous period[54] - The total cash outflow from operating activities was ¥11,323,611.18, down from ¥17,327,301.28 year-over-year[57] - The cash inflow from investment activities totaled ¥255,476,934.34, slightly lower than ¥257,133,150.68 in the previous year[57] Operational Challenges and Risks - The company faces risks in new business development, market expansion, and operational challenges in existing projects, which may impact future performance[11] - The company faces risks in new business expansion and market competition, particularly in waste heat power generation and photovoltaic sectors [22][23] - The company has initiated legal proceedings for certain accounts receivable, indicating potential risks in ongoing business operations[11] - The company has initiated legal proceedings for certain accounts receivable to protect its interests, indicating potential litigation risks [23] - The company has faced challenges in expected returns from several projects due to external factors, including low operational rates in the cement industry[30] Strategic Initiatives - The company plans to optimize talent management and enhance decision-making processes to mitigate risks and achieve strategic goals[11] - The company plans to use part of the raised funds for repaying bank loans and temporarily supplementing working capital, amounting to 45 million yuan[31] - The company has completed the cancellation procedures for its wholly-owned subsidiary Hami Yishida New Energy Co., Ltd.[26] - The company has signed a land repurchase letter of intent with the Dalian High-tech Industrial Park Management Committee[26] - The company has a total of CNY 20.84 million in committed investment projects, with 100% investment progress reported[30] Fund Utilization - The total amount of raised funds is CNY 777.80 million, with CNY 591.99 million already utilized[29] - No changes in the use of raised funds during the reporting period, maintaining a 0% change rate[29] - The company utilized 36 million yuan of raised funds for the "Kashgar Feilong 2000 tons new dry process cement production line waste heat power generation contract energy management project" and acquired 100% equity of the company[31] Miscellaneous - The report for the first quarter was not audited, which may affect the reliability of the financial data presented[59] - The company has no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[27] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[33] - The company has completed the registration of Shanghai Yishida Commercial Factoring Co., Ltd. with an 80% equity stake, which is currently operating normally[31]

Financial Performance - Operating revenue for the reporting period was CNY 41,203,016.51, representing a year-on-year increase of 66.22%[7] - Net profit attributable to shareholders was CNY 15,485,567.77, a significant increase of 399.95% compared to the same period last year[7] - Basic earnings per share reached CNY 0.13, reflecting a 425.00% increase year-on-year[7] - The gross profit for the current period was ¥14,201,202.44, compared to a loss of ¥4,217,452.55 in the previous period, marking a turnaround in profitability[37] - Net profit for the current period was ¥15,699,201.24, a substantial recovery from a net loss of ¥4,307,220.71 in the previous period[37] - Total profit for the current period was ¥16,283,208.48, compared to a loss of ¥3,893,997.01 in the previous period, indicating a strong recovery[37] - The company achieved a total operating revenue of ¥86,353,824.62 for the year-to-date period, an increase from ¥74,308,498.53 in the previous year, reflecting a growth of approximately 16.4%[43] Cash Flow - The net cash flow from operating activities was CNY 1,985,530.15, showing a decrease of 92.64% compared to the previous year[7] - The cash flow from operating activities resulted in a net outflow of -¥22,012,038.19, compared to -¥34,905,388.88 in the previous year[53] - The total cash outflow for operating activities was ¥46,176,106.90, down from ¥60,202,798.45 in the same quarter last year[54] - The cash flow from financing activities resulted in a net outflow of -¥22,012,038.19, compared to -¥34,905,388.88 in the previous year[53] - The cash flow from operating activities for Q3 2017 was CNY 1,985,530.15, a decrease from CNY 26,988,483.66 in the same quarter last year, indicating a decline in cash generation[52] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,670,573,761.13, a decrease of 3.67% compared to the end of the previous year[7] - The total current assets decreased from 859,247,905.32 to 771,437,535.10, a decline of approximately 10.2%[28] - Total liabilities decreased from 680,847,498.48 to 607,270,352.88, a decline of about 10.8%[30] - The company's total assets decreased from 1,734,183,287.80 to 1,670,573,761.13, a reduction of approximately 3.7%[31] - The company's total liabilities to equity ratio improved from 0.65 to 0.57, indicating a stronger financial position[30] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 5,028[11] - The top ten shareholders held a combined 61.85% of the company's shares, with the largest shareholder owning 21.88%[11] - There were no changes in the company's total share capital due to new share issuance or other reasons during the reporting period[7] Investments and Acquisitions - The company invested RMB 45 million to acquire a 3.0005% stake in Beijing Huashu Kang Data Technology Co., Ltd.[19] - The company decided to transfer 18% equity of Hainan Yaxi Investment Co., Ltd. for RMB 22.5 million, but has not received the payment of RMB 2.5 million from the buyer during the reporting period.[18] - The company established Shanghai Yishida Commercial Factoring Co., Ltd. with a registered capital of RMB 50 million, holding 80% of the shares.[20] Taxation - The company’s income tax rate will increase from 15% to 25% after the expiration of the high-tech enterprise certificate on September 28, 2017.[20] Operational Metrics - Operating costs increased by 32.34% year-on-year, also due to the completion progress of certain waste heat power generation projects.[17] - The company reported a significant reduction in asset impairment losses, which were -¥3,389,321.53 for the year-to-date period, compared to ¥5,029,124.37 in the previous year, indicating improved asset management[43] - The company incurred a tax expense of CNY 998,854.78 in Q3 2017, compared to CNY 719,428.30 in Q3 2016, indicating an increase in tax obligations due to improved profitability[46] Accounts Receivable and Inventory - Accounts receivable increased by 30.89% compared to the beginning of the period, mainly due to delayed payments from customers of the wholly-owned subsidiary Golmud Shenguang New Energy Co., Ltd.[17] - Prepayments increased by 139.34% compared to the beginning of the period, primarily due to an increase in procurement prepayments.[17] - Inventory decreased from 137,543,270.24 to 128,067,491.60, a reduction of approximately 6.5%[28]

Financial Performance - Total revenue for the reporting period was ¥45,150,808.11, a decrease of 8.82% compared to ¥49,520,571.92 in the same period last year[18]. - Net profit attributable to shareholders was -¥14,075,205.97, an improvement of 39.34% from -¥23,202,943.94 year-on-year[18]. - Basic earnings per share were -¥0.12, showing a 40.00% improvement from -¥0.20 in the same period last year[18]. - The company reported a net loss attributable to shareholders of 14.08 million yuan, an increase of 39.34% compared to the same period last year[35]. - The net loss for the first half of 2017 was CNY 14,403,682.31, compared to a net loss of CNY 22,517,311.57 in the previous year, indicating an improvement of 36.0%[134]. - The total profit for the first half of 2017 was -CNY 13,988,834.77, an improvement from -CNY 22,211,106.97 in the same period of 2016[134]. Cash Flow - Net cash flow from operating activities was -¥5,133,666.90, a decline of 156.95% compared to ¥9,015,101.13 in the previous year[18]. - The net cash flow from investing activities improved significantly to ¥41,257,467.33 from -¥73,377,019.28, mainly due to the maturity of financial products[38]. - The company reported a net increase in cash and cash equivalents of ¥9,828,741.57, a 110.61% improvement from -¥92,598,513.89 in the previous year[38]. - Cash received from sales of goods and services was CNY 36,361,860.04, compared to CNY 66,603,748.95 in the previous period[140]. - The cash flow from investment activities showed a significant recovery with a net increase of 44,532,769.46 CNY compared to a net decrease of 46,940,169.96 CNY in the previous period[145]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,656,389,224.14, down 4.49% from ¥1,734,183,287.80 at the end of the previous year[18]. - The company’s total liabilities decreased from CNY 680,847,498.48 to CNY 618,785,017.13, a decline of approximately 9.1%[126]. - The company has a long-term loan of CNY 410,000,000.00, which constitutes 24.75% of total liabilities, down from 25.23% in the previous year[47]. - The total amount of accounts payable decreased to CNY 87,893,044.44, accounting for 5.31% of total liabilities, a significant drop from 11.10% in the previous year[47]. - The company’s total assets for its main subsidiaries include 97.8 million CNY for Shandong Shida and 714.5 million CNY for Golmud Shenguang[66]. Operational Performance - The company operates primarily in the photovoltaic industry and energy-saving environmental services, focusing on waste heat power generation and grid-connected photovoltaic power generation[25]. - The photovoltaic power generation business operated a 53 MW power station, generating 30.34 million kWh of electricity, with revenue of approximately 2.39 million yuan[31]. - The company faced challenges in the waste heat power generation business, with no new orders in the first half of 2017 due to a decline in investment willingness from cement enterprises[30]. - The energy services segment saw a revenue increase of 53.80% to ¥19,288,307.97, with a gross profit margin of 29.97%[41]. - The company is actively exploring diversification in the renewable energy and energy-saving sectors but has not made substantial progress, facing significant operational pressure[69]. Shareholder Information - The total number of shareholders at the end of the reporting period is 5,157[108]. - The largest shareholder, Hangzhou Guanghengyu Equity Investment Partnership, holds 21.88% of the shares, totaling 25,820,000 shares, with 3,900,000 shares pledged[108]. - Central Huijin Asset Management Co., Ltd. holds 4.79% of the shares, totaling 5,648,300 shares[108]. - The company has a total of 118,000,000 shares, with 23.48% being restricted shares after a decrease of 361,389 shares during the reporting period[104]. Governance and Compliance - The company has established a governance structure including a shareholders' meeting, board of directors, and supervisory board, with six subsidiaries involved in energy-saving and renewable energy projects[160]. - The company has not experienced any major litigation or arbitration matters during the reporting period[79]. - The company has no significant related party transactions during the reporting period, including daily operations, asset or equity acquisitions, and joint investments[84][85][86][87][88]. - The company has not faced any penalties or corrective actions during the reporting period[82]. Financial Management - The company plans to use up to 70 million yuan of raised funds for repaying bank loans and temporarily supplementing working capital[33]. - The company approved a maximum of 400 million CNY for purchasing financial products, with 300 million CNY from idle raised funds and 100 million CNY from idle self-owned funds[59]. - The company is managing unused raised funds through special accounts and financial products[54]. - The company has no derivative investments or entrusted loans during the reporting period[60][61]. Accounting Policies - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance and reflect the company's financial position as of June 30, 2017[165]. - The company uses RMB as its functional currency for accounting purposes[168]. - The company recognizes minority interests in subsidiaries separately in the consolidated balance sheet, reflecting the portion not owned by the parent company[174]. - The company applies a percentage of receivables method for estimating bad debt provisions based on aging analysis, with rates of 5% for up to 1 year, 10% for 1-2 years, 50% for 2-3 years, and 100% for over 3 years[190].

Financial Performance - Total revenue for Q1 2017 was ¥18,574,056.67, a decrease of 19.70% compared to ¥23,130,828.05 in the same period last year[9] - Net profit attributable to shareholders was -¥12,423,872.60, showing a slight decrease of 0.02% from -¥12,420,774.48 year-on-year[9] - The company reported a revenue of 18.57 million yuan, a year-on-year decrease of 19.70%, with heat recovery power generation contributing 8.74 million yuan (47.04%) and photovoltaic power generation contributing 9.84 million yuan (52.96%)[21] - The company’s net profit attributable to shareholders was -12.42 million yuan, with a basic earnings per share of -0.11 yuan, remaining relatively stable compared to the previous year[21] - The company reported a net loss attributable to shareholders in the current period, with uncertainty regarding performance improvement in the next reporting period[30] Cash Flow and Liquidity - Net cash flow from operating activities was -¥9,135,091.13, representing a decline of 53.93% compared to -¥5,934,622.35 in the previous year[9] - The net cash flow from operating activities decreased by 53.93% compared to the same period last year, primarily due to a reduction in cash received from sales of goods and services[20] - Cash and cash equivalents at the end of the reporting period amounted to CNY 213,875,516.01, down from CNY 250,006,948.37 at the beginning of the period[37] - The total cash inflow from investment activities was 276,311,589.03 CNY, down from 301,459,226.02 CNY in the previous period, reflecting a decrease in investment returns[54] - The total cash and cash equivalents at the end of the period were 160,393,407.27 CNY, down from 345,711,652.48 CNY in the previous period, indicating a significant decrease in liquidity[55] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,686,934,365.40, down 2.72% from ¥1,734,183,287.80 at the end of the previous year[9] - Total liabilities decreased to CNY 647,711,333.56 from CNY 680,847,498.48[39] - Total equity attributable to shareholders was CNY 1,021,040,099.96, down from CNY 1,033,463,972.56[40] - Total current assets decreased from CNY 859,247,905.32 to CNY 824,587,816.12 during the reporting period[37] Market Risks and Strategic Plans - The company faced significant market risks in its waste heat power generation business due to a shrinking domestic market and increased competition in international markets[11] - The photovoltaic industry is experiencing risks related to power curtailment, particularly affecting the company's solar power station in Golmud[11] - The company plans to explore new business growth points through acquisitions of mature and scalable targets to enhance revenue and profit[11] - The company plans to actively adjust its competitive strategy and increase market development efforts in response to the shrinking domestic market for heat recovery power generation[22] Shareholder Information - The top shareholder, Hangzhou Guanghengyu Equity Investment Partnership, holds 21.88% of shares, totaling 25,820,000 shares[13] - The total number of ordinary shareholders at the end of the reporting period was 5,648[12] Investment Activities - The company has invested CNY 8,000 million in working capital, achieving 100% of the planned investment[27] - The Hubei Century New Peak energy management project has a total investment of CNY 7,773.9 million, with 100% of the planned investment completed[27] - The total investment in the Yishida Technology Park R&D center project is CNY 5,071 million, also achieving 100% of the planned investment[27] - The acquisition of 100% equity in Golmud Shenguang New Energy Co., Ltd. was completed for CNY 23,800 million, with normal operations ongoing[28] Legal and Compliance Risks - The company faces litigation risks, including an ongoing case with Shenzhen Kelu Energy Service Co., Ltd., which may impact future operations[22] - The report for the first quarter was not audited, which may affect the reliability of the financial data presented[60]

Financial Performance - In 2016, the company's operating revenue was ¥162,605,434.80, a decrease of 56.57% compared to ¥374,410,455.57 in 2015[20] - The net profit attributable to shareholders was -¥62,258,325.98, representing a decline of 875.42% from a profit of ¥8,029,023.73 in 2015[20] - The total assets at the end of 2016 were ¥1,734,183,287.80, down 12.02% from ¥1,971,013,863.04 at the end of 2015[20] - The net assets attributable to shareholders decreased by 5.88% to ¥1,033,463,972.56 from ¥1,098,082,298.54 in 2015[20] - The basic earnings per share were -¥0.53, a decline of 857.14% from ¥0.07 in 2015[20] - The company reported a significant reduction in sales expenses by 54.26% and management expenses by 33.48% due to decreased business activities and cost control measures[59] - The company incurred an operating loss of CNY 8.14 million, a decrease of 182.57% year-on-year[41] - The company reported a net profit of 3,001,345.01 for its subsidiary Yunfu Yishida Waste Heat Power Generation Co., Ltd.[82] - The company reported a loss of RMB 2.65 million for 2016, attributed to local power restrictions and weather conditions[117] - The company reported a net profit decrease of 54.21 million yuan due to asset impairment provisions, including 28.54 million yuan for goodwill and 25.67 million yuan for inventory[153] Cash Flow and Investments - The net cash flow from operating activities increased by 433.66% to ¥73,770,516.42, compared to ¥13,823,497.48 in 2015[20] - The net cash flow from investment activities decreased by 152.23% to -¥94,667,700.76, mainly due to a reduction in cash received from the disposal of subsidiaries and other business units compared to the previous year[64] - The total cash and cash equivalents decreased by 4.05% to -¥73,632,265.88, indicating a decline in liquidity[64] - The company received CNY 12.79 million from the liquidation of a cooperative enterprise, contributing CNY 10.83 million to the 2016 investment income after adjustments[40] - The company has a total of CNY 5,000 million in principal guaranteed financial products, with expected returns ranging from CNY 22.92 million to CNY 83.75 million[143] - The company has a total of CNY 3,000 million in non-principal guaranteed financial products, with an actual return of CNY 74.02 million during the reporting period[143] - The company has a total of CNY 10,000 million in principal guaranteed financial products, with a return of CNY 76.25 million expected[143] Business Strategy and Market Conditions - The company plans to actively adjust its competitive strategy and increase market development efforts due to challenges in the residual heat power generation business[5] - The company aims to find new business growth points through acquisitions of mature and scalable targets[8] - The company is actively seeking new growth points in the photovoltaic business despite facing significant challenges related to grid limitations and project quality[38] - The company aims to expand its waste heat power generation business, focusing on overseas projects due to a declining domestic market[97] - The company plans to enhance its green energy business by improving the efficiency of its subsidiary and seeking high-quality photovoltaic projects globally[99] - The company has faced risks related to the expansion of new businesses, with previous restructuring efforts not yielding results[8] - The company did not secure any new projects in 2016, reflecting the difficult market conditions and increased competition in both domestic and international markets[37] Subsidiaries and Acquisitions - The company established a wholly-owned subsidiary in Xiamen, investing 10 million yuan, and another in the United States with an investment of 200,000 USD, although the latter has not commenced operations[54] - The company acquired 100% equity of Golmud Shenguang New Energy Co., Ltd. for 23,800 million, with the registration change completed on November 20, 2014[78] - The company decided to deregister its wholly-owned subsidiary in Baotou due to underperformance since its establishment[55] - The company established Xiamen Yishida New Energy Co. to leverage the policy advantages of the Xiamen Free Trade Zone, enhancing business expansion opportunities[87] - The company has completed the registration of its U.S. subsidiary, Yishida (USA) Energy Inc., to facilitate overseas business development[87] Shareholder and Dividend Policy - The company will not distribute cash dividends or bonus shares for the year[9] - The company has a policy to distribute at least 10% of the annual distributable profit as cash dividends if there are no major investment plans[106] - The company has not proposed any cash dividend distribution for the 2016 fiscal year due to negative net profit[112] - The cash dividend for 2015 represented 29.39% of the net profit attributable to shareholders, while the 2014 dividend was 32.12%[114] - The company’s cash dividend distribution plan for 2016 was approved by the board, reflecting adherence to regulatory guidelines[112] Legal and Compliance - The company faced a lawsuit involving a contract dispute with a total amount of 22.5 million CNY, which has been settled[126] - The company reported another lawsuit with a claim amount of 17.6 million CNY, which was dismissed by the court, indicating no significant impact on the company[127] - The company has no penalties or rectification measures during the reporting period[128] - The company has not disclosed any issues regarding the use of raised funds during the reporting period[78] Governance and Management - The company has established a complete governance structure, ensuring compliance with relevant laws and regulations[196] - The company has been expanding its management team with professionals from various backgrounds, enhancing its governance structure[186] - The company has independent directors with extensive experience in law and finance, contributing to its governance and strategic direction[182] - The total pre-tax remuneration for 12 directors, supervisors, and senior management in 2016 amounted to 3.9412 million CNY[188] - The company emphasizes the importance of aligning remuneration with performance and specific roles within the organization[188] Employee and Talent Development - The total number of employees in the company is 210, with 285 employees receiving salaries during the reporting period[191] - The professional composition includes 128 technical personnel, 49 management personnel, and 17 financial personnel[191] - Employee training programs are designed to align with the company's strategic development and individual needs[193] - The company emphasizes the importance of talent development to adapt to market changes and ensure sustainable growth[99]

Financial Performance - Total revenue for the reporting period was CNY 24,787,926.61, representing a decline of 78.28% year-over-year[9]. - Net profit attributable to shareholders was a loss of CNY 5,162,633.30, an increase in loss of 46.79% compared to the same period last year[9]. - Basic earnings per share were CNY -0.04, a decrease of 50.00% compared to the same period last year[9]. - The company's operating revenue for the reporting period was 24.79 million yuan, a decrease of 78.28% year-on-year[21]. - The net loss attributable to shareholders for the reporting period was 5.16 million yuan, a year-on-year decrease of 46.79%[21]. - For the first three quarters of 2016, the company achieved an operating revenue of 74.31 million yuan, a decrease of 64.80% year-on-year[21]. - The total loss for the first three quarters was 26.11 million yuan, a year-on-year decrease of 11.02%[21]. - Total revenue for the current period was CNY 24,787,926.61, a decrease of 78.3% compared to CNY 114,106,192.22 in the previous period[48]. - Total operating costs for the current period were CNY 31,722,128.66, down from CNY 118,390,466.78 in the previous period[48]. - Net profit for the quarter was a loss of CNY 5.43 million, compared to a loss of CNY 10.21 million in the same quarter last year, showing an improvement[54]. - The total comprehensive loss for the quarter was CNY 26.82 million, compared to a loss of CNY 29.23 million in the previous year[58]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,910,181,944.46, a decrease of 3.09% compared to the previous year[9]. - The total assets as of September 30, 2016, amounted to CNY 1,910,181,944.46, a decrease from CNY 1,971,013,863.04 at the beginning of the period[43]. - Current assets totaled CNY 971,568,286.38, down from CNY 998,088,930.65 at the beginning of the period[40]. - The company’s total liabilities decreased to CNY 823,148,995.07 from CNY 853,434,181.37[42]. - The company’s total liabilities decreased to CNY 264,790,000.76 from CNY 280,384,651.54[46]. - The company’s non-current assets totaled CNY 938,613,658.08, down from CNY 972,924,932.39[41]. - The company's cash and cash equivalents decreased to CNY 296,789,992.79 from CNY 319,157,105.51[40]. - The company's cash and cash equivalents decreased to CNY 197,737,396.23 from CNY 223,263,055.81[44]. Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 26,988,483.66, an increase of 179.44%[9]. - The net cash flow from operating activities for the current period is ¥26,988,483.66, compared to a negative ¥33,971,547.25 in the previous period, indicating a significant improvement[64]. - Total cash inflow from operating activities decreased to ¥112,153,762.28 from ¥229,830,196.47, representing a decline of approximately 51% year-over-year[64]. - Cash outflow from operating activities also decreased to ¥85,165,278.62 from ¥263,801,743.72, a reduction of about 68%[64]. - The net cash flow from investing activities is negative at -¥19,646,323.80, compared to -¥34,625,565.75 in the previous period, showing a smaller loss[65]. - Cash inflow from investing activities increased significantly to ¥903,882,756.20 from ¥459,457,616.17, marking an increase of approximately 96%[65]. - Cash outflow from investing activities rose to ¥923,529,080.00 from ¥494,083,181.92, an increase of about 87%[65]. - The net cash flow from financing activities is negative at -¥34,905,388.88, slightly improved from -¥35,413,384.68 in the previous period[65]. - The total cash and cash equivalents at the end of the period is ¥243,025,728.04, a slight increase from ¥240,335,798.03 in the previous period[65]. Shareholder Information - The total number of shareholders at the end of the reporting period was 6,144[14]. - The largest shareholder, Hangzhou Guanghengyu Equity Investment Partnership, holds 21.88% of the shares[14]. - The company has committed to not transferring shares obtained from the equity transfer for 36 months, ensuring stability in shareholder structure[26]. - The company has committed to increase its shareholding by no more than 2% of the total share capital within 12 months from July 9, 2015[27]. Investment and Projects - The total amount of raised funds is CNY 777.80 million, with CNY 482.57 million already invested by the end of the reporting period[29]. - The commitment to invest in the Hubei Century Xinfeng Contract Energy Management Project has not been fulfilled, with a total investment of CNY 77.74 million planned but not achieved[29]. - The EasyStar Technology Park R&D Center project has a total investment of CNY 50.71 million, which is fully utilized[29]. - The total amount of over-raised funds is CNY 274 million, with all funds allocated to projects[29]. - The company has achieved 100% progress in the investment of CNY 8 million for supplementary working capital[29]. - The company has reported a cumulative investment of CNY 20.83 million in committed investment projects, with a completion rate of 100%[29]. - The company is in the final acceptance stage for the EasyStar Technology Park R&D Center project, with future functionality dependent on strategic needs[29]. - The company utilized CNY 36 million of raised funds for the "Kashgar Feilong 2000 tons new dry cement production line waste heat power generation contract energy management project" and acquired 100% equity of Golmud Shenguang New Energy Co., Ltd. for CNY 238 million[30]. Operational Risks - The company faces market risks in its waste heat power generation business due to dependence on high-energy-consuming industries[12]. - The company is experiencing risks related to power curtailment in the western photovoltaic industry, affecting its Golmud photovoltaic power station[12]. - The company faced significant risks in the waste heat power generation market due to macroeconomic adjustments and industry conditions[23]. - The company established wholly-owned subsidiaries in Xiamen and the United States, facing potential operational and management risks[22]. - The company is actively addressing legal disputes and investment risks associated with its operations in the waste heat power generation sector[22]. - The company is currently involved in a contract dispute with Xuzhou Longshan Cement Co., Ltd., with the outcome still uncertain[31]. Cost Management - The company experienced a significant reduction in sales expenses, which were CNY 3.39 million, down 64.7% from CNY 9.57 million last year[56]. - Management expenses decreased to CNY 23.81 million, a reduction of 36.7% from CNY 37.52 million year-on-year[56]. - The company is focusing on improving operational efficiency and reducing costs in response to the challenging market conditions[57].

Financial Performance - Total operating revenue for the reporting period was ¥49,520,571.92, a decrease of 48.96% compared to ¥97,013,849.72 in the same period last year[16]. - Net profit attributable to shareholders of the listed company was -¥23,202,943.94, representing an 18.22% decline from -¥19,627,168.43 in the previous year[16]. - Basic earnings per share were -¥0.20, a decrease of 17.65% compared to -¥0.17 in the same period last year[16]. - The company reported a 35.84% improvement in net profit after deducting non-recurring gains and losses, amounting to -¥27,175,952.66 compared to -¥42,355,907.04 in the previous year[16]. - The net profit attributable to shareholders was CNY -23.20 million, a decline of 18.22% compared to the previous year, with basic earnings per share at CNY -0.20, down 17.65%[25]. - The net loss for the first half of 2016 was CNY 22,517,311.57, compared to a net loss of CNY 19,333,644.52 in the previous year, reflecting an increase in losses of approximately 16.3%[119]. - The company's operating profit (loss) was reported at CNY -23,807,393.36, worsening from CNY -21,140,315.40 year-over-year[118]. - The total comprehensive loss for the first half of 2016 was CNY -22,517,311.57, compared to CNY -19,333,644.52 in the same period of 2015[119]. Cash Flow and Liquidity - Net cash flow from operating activities improved to ¥9,015,101.13, a 124.37% increase from -¥36,997,033.39 in the same period last year[16]. - Cash and cash equivalents decreased to ¥231,322,856.37 from ¥319,157,105.51, representing a decline of approximately 27.5%[108]. - The net cash flow from operating activities was -16,179,146.02 RMB, compared to -6,204,537.81 RMB in the previous period, indicating a decline in operational performance[129]. - The cash and cash equivalents at the end of the period decreased to 109,116,288.53 RMB from 313,329,307.10 RMB in the previous period, reflecting a significant reduction in liquidity[130]. - The net increase in cash and cash equivalents was -65,146,767.28 RMB, contrasting with an increase of 108,408,514.28 RMB in the prior period, indicating cash flow challenges[130]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,915,325,496.63, down 2.83% from ¥1,971,013,863.04 at the end of the previous year[16]. - Total liabilities decreased from CNY 853,434,181.37 to CNY 823,985,326.53, a decline of about 3.46%[110]. - Owner's equity decreased from CNY 1,117,579,681.67 to CNY 1,091,340,170.10, a reduction of approximately 2.34%[111]. - The total owner's equity at the end of the period was 1,091,340.00 CNY[135]. - The company had a total of RMB 37,768.76 million in unutilized raised funds as of June 30, 2016[50]. Investment and Subsidiaries - The company participated in 17 bidding projects in overseas waste heat power generation markets, mainly in Pakistan, India, Turkey, and Vietnam, but faced challenges with funding and enthusiasm from local cement enterprises[26]. - The company established a wholly-owned subsidiary in Xiamen with an investment of CNY 10 million to leverage the advantages of the free trade zone for market expansion[26]. - A wholly-owned subsidiary was also set up in Delaware, USA, with an investment of USD 2 million to enhance the company's international competitiveness and brand image[26]. - The company has eight subsidiaries included in the consolidated financial statements for the first half of 2016[146]. Market Conditions and Risks - The company achieved operating revenue of CNY 49.52 million, a year-on-year decrease of 48.96% due to a severe market situation in the domestic cement waste heat power generation sector[25]. - The company faces risks in its energy management projects due to the downturn in the cement industry, impacting expected returns[46]. - The company is expanding its overseas projects in renewable energy, facing political and legal risks[47]. - The company is experiencing market risks in its waste heat power generation business, with declining investment demand[46]. - The company emphasized the importance of establishing a robust risk management system to mitigate potential risks associated with overseas investments[22]. Research and Development - The company reported a significant decrease in research and development expenses, down 60.09% to CNY 2.04 million, in line with its R&D plan[30]. - The company has established a professional management team to mitigate risks associated with overseas projects[47]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company distributed a cash dividend of RMB 0.2 per share, totaling RMB 2.36 million, based on a total share capital of 118 million shares[64]. - The company has not made any adjustments to its cash dividend policy during the reporting period[65]. - The company has not held any equity in financial enterprises during the reporting period[56]. Financial Management and Controls - The company has implemented a financial and collaborative office system to improve internal control and management efficiency[44]. - The company has committed to invest RMB 20,831 million in various projects, with a completion rate of 100.00% for several projects[52]. - The company has a total approved external guarantee amount of 52,000,000, with an actual guarantee balance of 47,400,000 at the end of the reporting period, representing 44.20% of the company's net assets[81]. Accounting Policies and Standards - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance and reflect the company's financial position as of June 30, 2016[151]. - The company uses RMB as its functional currency for accounting purposes[154]. - The company’s financial reports are based on the principle of control for determining the scope of consolidation, ensuring that all subsidiaries are accounted for appropriately[161].