Financial Performance - The company's operating revenue for Q3 2022 was ¥166,588,733.75, a decrease of 33.08% compared to the same period last year[3]. - The net profit attributable to shareholders for Q3 2022 was -¥18,592,827.59, an increase of 17.32% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥21,973,664.78, a slight increase of 0.43% compared to the previous year[3]. - Total operating revenue for Q3 2022 was CNY 609,650,812, a decrease of 15.7% compared to CNY 723,635,913.54 in the same period last year[16]. - Net profit for Q3 2022 was a loss of CNY 5,621,649.22, compared to a loss of CNY 63,636,342.38 in Q3 2021[17]. - The company's gross profit margin decreased to -1.2% in Q3 2022 from -8.8% in Q3 2021[16]. - The total comprehensive loss for Q3 2022 was CNY 5,621,649.22, compared to a loss of CNY 63,636,342.38 in Q3 2021[17]. Assets and Liabilities - The total assets at the end of Q3 2022 were ¥2,963,680,066.64, down 12.72% from the end of the previous year[3]. - The total liabilities decreased to CNY 1,362,912,436.70 in Q3 2022 from CNY 1,789,747,244.98 in the same period last year, a reduction of 24%[16]. - The company's total equity as of Q3 2022 was CNY 1,600,767,629.94, slightly down from CNY 1,605,947,378.99 in Q3 2021[16]. Cash Flow - The cash flow from operating activities for the year-to-date was ¥95,050,000.69, a decrease of 30.67% compared to the same period last year[7]. - The cash flow from operating activities for the current period is ¥95,050,000.69, a decrease of 30.7% compared to ¥137,089,479.73 in the previous period[18]. - Total cash inflow from operating activities is ¥743,187,674.65, down 45.9% from ¥1,372,861,668.05 in the same period last year[18]. - Cash outflow from operating activities is ¥648,137,673.96, a decrease of 47.5% compared to ¥1,235,772,188.32 in the previous period[18]. - The net cash flow from financing activities is -¥537,130,672.75, an improvement from -¥814,191,820.29 in the previous period[19]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 22,693[9]. - The largest shareholder, China Energy Conservation and Environmental Protection Group, holds 22.97% of shares, totaling 98,133,708 shares[9]. - The company reported a total of 3,848,618 restricted shares at the end of the period, with no shares released during the current period[11]. Operational Metrics - The company's basic earnings per share for Q3 2022 was -¥0.0435, an increase of 17.27% year-on-year[3]. - Basic and diluted earnings per share for Q3 2022 were both -0.0090, compared to -0.1488 in Q3 2021[17]. - Research and development expenses for Q3 2022 were CNY 33,238,841.40, a decrease of 12.5% from CNY 37,844,008.32 in the previous year[16]. - The company's weighted average return on equity was -1.26%, a decrease of 0.02% compared to the previous year[3]. Cash and Cash Equivalents - The company's cash and cash equivalents decreased by 56.64% to ¥326,642,546.72 compared to the beginning of the year[7]. - The company's cash and cash equivalents decreased from RMB 753,240,278.41 at the beginning of the year to RMB 326,642,546.72 by September 30, 2022, a decline of approximately 56.7%[13]. - The ending balance of cash and cash equivalents is ¥303,819,331.69, down 29.6% from ¥431,777,688.10 in the previous period[19].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥443,062,078.25, a decrease of 6.66% compared to ¥474,700,883.05 in the same period last year[13]. - The net profit attributable to shareholders was ¥14,766,348.12, a significant increase of 135.94% from a loss of ¥41,090,613.41 in the previous year[13]. - The net profit after deducting non-recurring gains and losses was ¥9,586,647.88, improving by 112.17% from a loss of ¥78,793,720.78 in the same period last year[13]. - The net cash flow from operating activities was ¥73,304,018.72, down 60.01% from ¥183,304,969.23 in the previous year[13]. - The total assets at the end of the reporting period were ¥3,000,697,228.03, a decrease of 11.63% from ¥3,395,694,623.97 at the end of the previous year[13]. - The basic earnings per share were ¥0.0346, compared to a loss of ¥0.0962 in the same period last year, marking an increase of 135.97%[13]. - The weighted average return on net assets was 1.00%, an improvement of 3.43% from -2.43% in the previous year[13]. - The company reported a non-recurring loss of ¥480,225.20 from the disposal of non-current assets[15]. - The total impact of non-recurring gains and losses after tax was ¥5,179,700.24[16]. - The company reported a credit impairment loss of ¥4,469,600.10, which accounted for 27.66% of total profit, mainly from receivables[26]. Market and Business Outlook - The environmental protection equipment industry in China is projected to exceed ¥10 trillion in 2022 and reach ¥12.3 trillion by 2023[18]. - The company’s wastewater treatment equipment business is expected to benefit from expanding market opportunities due to increasing environmental governance policies[18]. - The company’s clean energy heating products are gaining traction in the new rural market, promoting a clean, low-carbon, and intelligent direction[18]. - The company is actively expanding its clean heating business model to regions such as Shandong, Shanxi, Xinjiang, and Henan[18]. - The high-pressure electrical testing industry is experiencing growth due to the national strategy of ultra-high voltage transmission, creating significant market demand[18]. - The company expects to generate a profit of 6.22 million yuan from the equity transfer of Qiyuan (Shaanxi) Leading Electronic Materials Co., Ltd[43]. - The company is facing risks related to accounts receivable increases, which could negatively impact cash flow if not managed properly[46]. - The company plans to enhance its core competitiveness and market capabilities to mitigate risks associated with uncertain future operating conditions[46]. Research and Development - Research and development investment intensity was 4.63%, with a total R&D expenditure of ¥20,395,075.64, down 24.25% year-on-year[23][22]. - The company has 23 ongoing research projects and has applied for 9 major national and local research funding projects[21][22]. - The company applied for 13 new patents and received 14 patents during the reporting period[21][22]. - The company has invested 100 million RMB in R&D for new technologies aimed at improving energy efficiency[67]. - New product launches include an advanced water treatment system, which is expected to contribute an additional 200 million RMB in revenue by the end of 2022[67]. Financial Management and Compliance - The company is committed to compliance management and has established a compliance management leadership group to enhance legal risk prevention[21][22]. - The company has strengthened financial management to prevent future tax-related issues, emphasizing the training of financial personnel[69]. - The company has undertaken measures to ensure compliance with regulatory requirements and has not faced administrative penalties in the last 36 months[65]. - The company has committed to maintaining independence in operations, assets, and finances post-transaction, ensuring no improper benefits are derived from shareholder status[69]. - The company has established a robust internal control system to protect the rights of shareholders and creditors, enhancing corporate governance[54]. Shareholder and Equity Information - The total number of shares is 427,244,052, with 100% ownership[98]. - The state-owned enterprise China Energy Conservation and Environmental Protection Group Co., Ltd. holds 22.97% of the shares, totaling 98,133,708 shares[101]. - The company has a total of 37,735,850 shares that were converted from restricted to unrestricted status[100]. - The largest shareholder, China Energy Conservation and Environmental Protection Group Co., Ltd., has not changed its shareholding during the reporting period[101]. - The company has not implemented any share buyback or repurchase plans during this reporting period[98]. Legal and Litigation Matters - The company has no ongoing litigation matters that could significantly impact its financial position[87]. - The litigation involving Zhao County Zhaosheng Company has a disputed amount of CNY 39.42 million, with ongoing court proceedings[75]. - The company has recovered 10 million yuan from the settlement of a contract dispute related to the first phase of the sewage treatment plant in Feixiang County, with the remaining amount still pending payment[76]. - A total of 210.96 million yuan was ordered to be paid to the plaintiffs in the labor arbitration case involving Han Shiqiang and Wang Hua[77]. - The company has received 700 million yuan in repayments from the defendant in a contract dispute with Tangshan Equipment, with ongoing negotiations for further repayments[77]. Environmental and Social Responsibility - The company strictly adheres to environmental protection laws and has not experienced any pollution incidents or penalties during the reporting period[53]. - The company has implemented measures to reduce carbon emissions, although specific details were not disclosed[54]. - The company actively engages in social responsibility initiatives, including poverty alleviation and rural revitalization efforts, by sending personnel to assist in these areas[55]. - The company promotes energy-saving equipment and optimizes resource consumption to lower energy costs[53]. Future Projections and Strategies - The company provided a positive outlook for the second half of 2022, projecting a revenue growth of 25% based on current market trends and user acquisition strategies[148]. - The company plans to implement a new marketing strategy that includes digital channels, aiming to increase brand awareness and customer engagement by 40%[148]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2023 through strategic partnerships and local investments[148]. - The company plans to focus on expanding its market presence and enhancing its product development strategies moving forward[113].

Financial Performance - The company's operating revenue for Q1 2022 was ¥197,638,996.45, a decrease of 10.87% compared to ¥221,749,354.14 in the same period last year[3] - The net profit attributable to shareholders was -¥4,567,513.30, showing an improvement of 87.74% from -¥37,264,721.63 year-on-year[3] - The net cash flow from operating activities decreased by 62.34% to ¥68,266,785.79, down from ¥181,262,106.49 in the previous year[3] - Total operating revenue for Q1 2022 was CNY 197.64 million, a decrease of 10.9% compared to CNY 221.75 million in the same period last year[16] - Net loss for Q1 2022 was CNY 6.24 million, compared to a net loss of CNY 38.95 million in Q1 2021, indicating an improvement[17] - The total comprehensive income attributable to the parent company was -4,567,513.30 CNY, compared to -37,264,721.63 CNY in the previous period, indicating a significant improvement[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,002,715,016.03, a decline of 11.57% from ¥3,395,694,623.97 at the end of the previous year[3] - The company's total assets decreased to CNY 3.00 billion from CNY 3.40 billion year-over-year, reflecting a decline of 11.6%[15] - Total liabilities decreased to CNY 1.40 billion from CNY 1.79 billion, a reduction of 21.7% compared to the previous year[15] - The company's equity attributable to shareholders decreased to CNY 1.47 billion from CNY 1.60 billion, a decline of 8.5% year-over-year[15] Cash Flow - The company's cash and cash equivalents decreased from RMB 753.24 million at the beginning of the year to RMB 415.88 million at the end of the reporting period[13] - The total cash and cash equivalents at the end of the period were 406,154,071.73 CNY, down from 823,746,486.22 CNY at the end of the previous period, a decrease of approximately 50.7%[21] - Cash received from the sale of goods and services was 302,342,721.13 CNY, compared to 344,013,652.84 CNY in the previous period, representing a decline of about 12.1%[19] - The cash inflow from operating activities totaled 315,188,928.74 CNY, compared to 788,852,660.66 CNY in the previous period, indicating a decline of about 60%[20] - The cash outflow for operating activities was 246,922,142.95 CNY, compared to 607,590,554.17 CNY in the previous period, reflecting a decrease of about 59.3%[20] Shareholder Information - The total number of common shareholders at the end of the reporting period is 24,164, with the top 10 shareholders holding a combined 59.35% of shares[8] - China Energy Conservation and Environmental Protection Group holds 22.97% of shares, while China Origin Engineering Design Institute holds 12.02%[8] - The company has a total of 41,584,468 restricted shares, with 37,735,850 shares released during the reporting period[10] - The company reported a significant reduction in restricted shares, indicating potential liquidity improvements for shareholders[10] Expenses - The company reported a significant reduction in financial expenses by 69.12%, down to ¥5,146,279.85 from ¥16,663,823.01 year-on-year[6] - Research and development expenses decreased by 35.17% to ¥10,518,867.23, compared to ¥16,226,146.94 in the previous year[6] - Total operating costs for Q1 2022 were CNY 204.90 million, down 17.0% from CNY 246.76 million year-over-year[16] - Research and development expenses for Q1 2022 were CNY 10.52 million, a decrease of 35.0% from CNY 16.23 million in the previous year[17] Future Outlook - The company has ongoing projects related to wastewater treatment, which may impact future cash flows[10] - The company is focused on expanding its market presence and enhancing its product offerings in the environmental protection sector[12] - The company plans to continue focusing on cost control and efficiency improvements in future quarters[17]

Financial Performance - The company's operating revenue for Q3 2021 was ¥248,935,030.49, a decrease of 34.80% compared to the same period last year[3] - The net profit attributable to shareholders was -¥22,486,891.80, down 88.66% year-on-year[3] - The net profit excluding non-recurring gains and losses was -¥22,068,523.54, a decline of 88.87% compared to the previous year[3] - The company's operating revenue for Q3 2021 was CNY 723,635,913.54, a decrease of 41.12% compared to CNY 1,229,025,921.63 in the same period last year[8] - The net loss for the third quarter was CNY 63,636,342.38, compared to a net loss of CNY 232,143,033.35 in the same period last year, representing a 72.6% improvement[19] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥137,089,479.73, a decrease of 127.48% year-on-year[3] - The net cash flow from operating activities was CNY 137,089,479.73, a decline of 127.48% compared to a negative cash flow of CNY 498,781,885.60 in the previous year[9] - The cash inflow from operating activities for the current period was ¥578,403,046.65, a decrease of approximately 57.8% compared to ¥1,372,861,668.05 in the previous period[20] - The net cash flow from operating activities was ¥137,089,479.73, a significant improvement from a net outflow of ¥498,781,885.60 in the same period last year[20] - The net cash flow from financing activities was -¥814,191,820.29, a decline from a positive net cash flow of ¥67,127,196.95 in the previous year[21] - The company experienced a cash outflow of ¥1,375,511,211.96 from financing activities, primarily due to debt repayments and dividend distributions[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,517,209,641.03, down 39.57% from the end of the previous year[3] - The company's total liabilities decreased significantly due to the disposal of subsidiaries, impacting various financial metrics[8] - The total current liabilities were CNY 1.25 billion, a decrease from CNY 2.43 billion at the end of 2020, reflecting a decline of approximately 48.7%[15] - The total liabilities decreased to CNY 2.46 billion from CNY 4.45 billion, indicating a reduction of approximately 44.7%[15] - The company's total liabilities decreased to CNY 1,645,316,604.79 from CNY 3,936,829,613.55, a reduction of 58.2%[18] Equity and Investments - The equity attributable to shareholders increased by 1.49% to ¥1,739,066,979.04 compared to the end of the previous year[3] - Long-term equity investments increased to CNY 31.53 million from CNY 24.79 million, showing an increase of approximately 27.2%[15] - The total equity attributable to shareholders of the parent company was CNY 1,739,066,979.04, slightly up from CNY 1,713,494,594.18, indicating a 1.5% increase[18] Operational Changes - The company reported a significant reduction in accounts receivable, down 38.33% to ¥1,371,652,746.97 due to changes in accounting methods[7] - The company has disposed of its subsidiary, resulting in a significant decrease in various asset categories, including contract assets down 94.99%[7] - The company has initiated new construction projects, with construction in progress increasing by 5967.80% to ¥19,416,969.45[7] - The company reported a significant decrease in cash received from sales of goods and services, totaling ¥785,711,933.40, down 31.6% from ¥1,147,101,228.45 in the previous year[20] Research and Development - The company’s R&D expenses were CNY 37,844,008.32, down 39.85% from CNY 62,914,084.10 year-on-year[8] - Research and development expenses for the quarter were CNY 37,844,008.32, down 39.9% from CNY 62,914,084.10 year-on-year[18] Financial Adjustments - The company did not adjust the beginning balance of the balance sheet due to the new leasing standards, as the lease terms did not exceed 12 months[22] - The third quarter report was not audited, indicating that the figures may be subject to change upon final review[24]

Financial Performance - The company's operating revenue for Q1 2021 was ¥221,749,354.14, a decrease of 47.77% compared to the same period last year[3]. - The net profit attributable to shareholders was -¥37,264,721.63, representing a decline of 1,111.79% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥74,633,923.85, a decrease of 4,424.01% compared to the previous year[3]. - The company reported a net loss of ¥138,460,571.90, an increase in loss of 35.46% compared to a loss of ¥102,213,466.64 in the previous period[14]. - The company reported a net profit attributable to shareholders of the parent company of -50.43 million yuan, reflecting a significant change due to the adjustment in accounting treatment for the subsidiary Qiyuan Darong[17]. - The total operating cost for Q1 2021 was approximately CNY 410.07 million, a significant increase from CNY 246.76 million in the same period last year, representing a growth of 66.1%[42]. - The total comprehensive income for the first quarter was -28,916,378.05 CNY, compared to -20,911,956.07 CNY in the previous year, indicating a decline[47]. Cash Flow and Liquidity - The net cash flow from operating activities was ¥181,262,106.49, a significant improvement from -¥440,561,512.06 in the same period last year[3]. - Cash inflow from operating activities totaled 788,852,660.66 CNY, significantly up from 335,060,690.89 CNY in the previous year, reflecting a strong operational performance[48]. - Cash outflow from operating activities was 607,590,554.17 CNY, down from 775,622,202.95 CNY, leading to a net cash flow from operating activities of 181,262,106.49 CNY, a recovery from -440,561,512.06 CNY last year[49]. - The ending cash and cash equivalents balance was 823,746,486.22 CNY, up from 439,241,562.37 CNY year-over-year, showing improved liquidity[50]. - The company reported a significant increase in cash received from other operating activities, totaling 442,576,257.50 CNY, compared to 15,612,621.24 CNY in the previous year[48]. - The company disposed of subsidiaries and other business units, resulting in cash inflow of 633,033,500.00 CNY, contributing to the strong cash flow from investing activities[52]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,858,421,629.22, down 33.71% from the end of the previous year[3]. - The total liabilities amounted to CNY 1,961,335,174.11, down from CNY 3,936,829,613.55 year-over-year[37]. - Short-term borrowings were reported at CNY 820.81 million, down from CNY 1.19 billion, indicating a reduction of 30.9%[35]. - The total current liabilities were CNY 1,508,964,912.67, a decrease from CNY 3,249,218,286.90 in the previous year[36]. - The total current assets amounted to CNY 2.83 billion, down from CNY 4.44 billion, representing a decline of 36.2%[34]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 28,177[6]. - The largest shareholder, China Energy Conservation and Environmental Protection Group, held 22.97% of the shares[6]. - The net assets attributable to shareholders increased by 3.13% to ¥1,767,099,633.73 compared to the end of the previous year[3]. Investments and Subsidiaries - The company plans to transfer 100% equity of its wholly-owned subsidiary Beijing Fusion Environmental Protection Co., Ltd. for a price of RMB 633.0335 million and related debts for RMB 429.89523054 million[22]. - The company recognized an investment income of 35.46 million yuan from the transfer of the subsidiary Fusion Environmental's equity and related debts, positively impacting the quarterly performance[16]. - Long-term equity investments increased by 35.35% to ¥33,548,268.68 from ¥24,786,412.37, reflecting changes in accounting treatment for the subsidiary Qiyuan Darong[12]. Operational Strategy - The company plans to continue focusing on strategic disposals and restructuring to enhance operational efficiency and financial performance[12]. - The company’s main business has shifted to focus on energy-saving environmental equipment and electrical equipment, following the transfer of Fusion Environmental and its subsidiaries[17]. - The company aims to enhance business quality and expand market share through mergers and acquisitions in the energy-saving equipment sector, while focusing on "smart manufacturing" in the electrical equipment sector[21]. Research and Development - Research and development expenses decreased to CNY 16.23 million in Q1 2021 from CNY 20.90 million in Q1 2020, a reduction of 22.5%[42]. Compliance and Governance - The company has resolved previous violations regarding guarantees, with a total repayment of RMB 168 million made to Zhejiang Zhongda Yuantong Financing Leasing Co., Ltd. on January 29, 2021[22]. - The company has no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[23]. - The company has no outstanding issues regarding the use of raised funds or any non-operating fund occupation by major shareholders during the reporting period[31]. - The company has no violations related to external guarantees during the reporting period[31].

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥474.7 million, a decrease of 43.97% compared to the same period last year[13]. - The net profit attributable to shareholders was approximately -¥41.1 million, representing a decline of 51.43% year-on-year[13]. - The net cash flow from operating activities improved significantly to approximately ¥183.3 million, an increase of 148.02% compared to the previous year[13]. - Total assets decreased by 38.58% to approximately ¥3.58 billion compared to the end of the previous year[13]. - The net profit attributable to shareholders was -¥41,090,613.41, representing a decline of 51.43% year-on-year[24]. - The company achieved operating revenue of ¥474,700,883.05, a decrease of 43.97% compared to the previous year’s ¥847,217,193.43[24]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the first half of 2021, representing a year-on-year growth of 25%[74]. - The company reported a total revenue of 1,157.92 million for the first half of 2021, maintaining a stable performance compared to the previous year[109]. - The company reported a total of ¥1,899,428.67 in cash received from investments, which is lower than ¥2,710,768.09 in the previous period[147]. Asset Management - Total assets decreased by 38.58% to approximately ¥3.58 billion compared to the end of the previous year[13]. - The company's total assets at the end of the reporting period amounted to 2,374,777,462.31 CNY[154]. - The company's current assets totaled CNY 2,534,051,600.52, down from CNY 4,444,916,057.55 at the end of 2020, indicating a decrease of about 43.1%[133]. - Accounts receivable decreased significantly to CNY 1,313,375,749.51 from CNY 2,224,171,082.44, reflecting a reduction of around 41.0%[132]. - The company's total liabilities were CNY 1,680,912,446.01, down from CNY 3,936,829,613.55, marking a decrease of approximately 57.4%[135]. Strategic Initiatives - The company plans to optimize its accounts receivable structure, aiming to reduce the overall scale of accounts receivable effectively[2]. - The company is focusing on enhancing its comprehensive management level to mitigate management risks associated with its subsidiaries[3]. - The company is committed to integrating strategic, market, financing, and corporate management to align with its development speed and business scale[4]. - The company aims to become a comprehensive service provider integrating system design, equipment manufacturing, engineering construction, and operation management, leveraging smart technologies[20]. - The company is actively expanding into new markets, including clean heating and medical waste treatment projects in various provinces and international markets[21]. Research and Development - The company has applied for 7 new patents and received 11 new patent grants during the reporting period, including 2 invention patents[22]. - Research and development expenses decreased by 33.12% to 26,923,992.73 from 40,255,327.45 in the previous year[25]. - The company has invested 100 million RMB in R&D for new technologies aimed at improving energy efficiency in its products[74]. - Investment in R&D has increased by 25%, focusing on innovative technologies and sustainable solutions[110]. Market Expansion - The company is actively pursuing market expansion, with plans to enter three new provinces by the end of 2021, aiming for a 10% market share in these regions[74]. - The company is expanding its market presence, targeting new regions in Southeast Asia, with plans to establish three new offices by the end of the year[76]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2023[111]. Compliance and Governance - The company has established a robust internal control system to protect the rights of shareholders and creditors, ensuring accurate and timely information disclosure[65]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[64]. - The company emphasizes compliance with environmental laws and has implemented measures to manage waste and reduce energy consumption[64]. - The company has committed to ensuring that all funds are legally sourced and that there are no structured financing or illegal pooling of funds[89]. Financial Health - The company reported a net loss of CNY 142,286,463.68 for the period, compared to a loss of CNY 102,213,466.64 in the previous period, indicating a worsening of approximately 39.2%[135]. - The company’s financial performance indicates a need for strategic adjustments to improve profitability and shareholder value moving forward[160]. - The company has not disclosed any recent mergers or acquisitions in the current reporting period, suggesting a focus on internal growth strategies[160]. Shareholder Information - The largest shareholder, China Energy Conservation and Environmental Protection Group Co., Ltd., holds 22.97% of the shares, totaling 98,133,708[122]. - The total number of shareholders at the end of the reporting period was 23,955[122]. - The company has established an employee stock ownership platform to incentivize key personnel and business backbones[89]. Environmental Commitment - The company is committed to green technology innovation, aiming for energy conservation and emission reduction in its product goals[66]. - The company aims to achieve carbon neutrality by 2025, aligning with global sustainability trends[111]. - The company has committed to improving operational efficiency, aiming for a 5% reduction in costs through process optimization by the end of 2021[82].

Financial Performance - The company's operating revenue for Q1 2021 was ¥241,369,323.35, a decrease of 43.15% compared to ¥424,544,227.12 in the same period last year[3] - Net profit attributable to shareholders was ¥5,372,609.82, an increase of 45.87% from ¥3,683,044.49 year-on-year[3] - The net profit after deducting non-recurring gains and losses was -¥33,736,615.21, a significant decline of 2,054.57% compared to ¥1,726,034.59 in the previous year[3] - The total operating cost was CNY 270,029,261.47, down 34.15% year-on-year, also attributed to the disposal of the subsidiary[12] - The company reported a net loss of CNY 96,840,856.82, compared to a loss of CNY 102,213,466.64 in the previous period, showing an improvement of about 5.3%[33] - The company reported a gross profit margin of approximately 10.0% for Q1 2021, compared to 24.0% in the same period last year[39] - The company achieved a cash inflow from investment activities of CNY 633,083,500.00, a notable increase compared to a cash outflow of CNY -16,740,426.95 in the previous year[45] Cash Flow - The net cash flow from operating activities was ¥178,016,155.21, improving from -¥440,561,512.06 in the same period last year[3] - Cash flow from operating activities generated a net inflow of CNY 178,016,155.21, a turnaround from a net outflow of CNY -440,561,512.06 in the prior year[45] - The cash outflow for operating activities was CNY 614,253,826.64, down from CNY 775,622,202.95 in the same quarter last year[45] - The total cash inflow from financing activities amounted to 736,228.00 CNY, while the cash outflow was 606,686,851.99 CNY, resulting in a net cash flow of -605,950,623.99 CNY[48] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,008,613,585.36, down 31.13% from ¥5,820,709,536.96 at the end of the previous year[3] - Current liabilities decreased from CNY 3,249,218,286.90 to CNY 1,595,379,070.18, a reduction of approximately 50.8%[32] - Total liabilities decreased from CNY 3,936,829,613.55 to CNY 2,048,949,331.62, reflecting a decline of around 47.8%[32] - Owner's equity increased from CNY 1,883,879,923.41 to CNY 1,959,664,253.74, showing an increase of about 4%[33] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 28,177[6] - The largest shareholder, China Energy Conservation and Environmental Protection Group, held 22.97% of the shares[6] Investments and Projects - The company has invested ¥7,336.4 million in the dedicated electrical equipment project, achieving 91.71% of the planned investment[21] - The company has invested 10,681.49 million in the expansion of the plate radiator production capacity project and the construction of the Xi'an International Energy-saving and Environmental Protection Equipment Demonstration Park[25] - The company has completed the transfer of 100% equity of its wholly-owned subsidiary, Beijing Fusion Environmental Protection Co., Ltd., for a total price of ¥63,303.35 million, which will no longer be included in the consolidated financial statements[18] Strategic Focus - The company’s strategic focus has shifted to energy-saving and environmental protection equipment, as well as electrical equipment, following the disposal of the subsidiary[13] - The company aims to enhance the quality of its energy-saving and environmental protection equipment business while expanding its market share through acquisitions of leading companies in the industry[17] Fundraising and Financial Management - The total amount of raised funds is ¥98,224.4 million, with no changes in usage reported during the period[21] - The company has no unused raised funds as of the report date, with a balance of CNY 0.42 million in the special account for raised funds[26] - The company plans to use CNY 3 million of surplus raised funds for permanent working capital, which is related to its main business operations[27] Miscellaneous - The first quarter report was not audited, indicating that the financial data has not undergone external verification[50] - The company has not conducted any research, communication, or interview activities during the reporting period[28]

Financial Performance - Operating revenue for the reporting period was CNY 381,808,728.20, a decline of 32.24% year-on-year[3] - Net profit attributable to shareholders of the listed company was a loss of CNY 198,363,844.18, representing a decrease of 2,314.14% compared to the same period last year[3] - The net cash flow from operating activities was a negative CNY 117,026,927.81, a decrease of 20.19% year-on-year[3] - Basic earnings per share were -CNY 0.4643, a decline of 2,310.95% compared to the same period last year[3] - The net loss for Q3 2020 was CNY 202,454,720.03, compared to a net profit of CNY 15,217,839.93 in Q3 2019, indicating a significant decline in profitability[26] - The company's total operating revenue for the current period is CNY 1,229,025,921.63, a decrease of 24.8% compared to CNY 1,634,581,968.66 in the previous period[31] - The net profit for the current period is a loss of CNY 232,143,033.35, compared to a profit of CNY 80,738,669.52 in the previous period, indicating a significant decline[32] - The total comprehensive income for the current period is a loss of CNY 104,943,503.49, compared to a loss of CNY 32,484,770.20 in the previous period[30] Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,996,853,611.66, a decrease of 7.00% compared to the end of the previous year[3] - Current assets totaled CNY 4,461,754,630.09, down from CNY 4,962,175,928.27, indicating a decrease of about 10.08% year-over-year[18] - Total liabilities decreased to CNY 3,822,629,057.21 from CNY 4,044,511,777.82, a reduction of about 5.48%[19] - The company's equity attributable to shareholders decreased to CNY 1,977,329,782.99 from CNY 2,204,592,293.34, a decline of about 10.27%[20] - Long-term borrowings increased to CNY 561,008,200.00 from CNY 323,008,200.00, showing an increase of approximately 74.00%[19] Cash Flow - The cash flow from financing activities decreased by 94.49% to CNY 67,127,196.95, primarily due to the use of loans for the project[13] - The company's cash and cash equivalents decreased by 59.09% to CNY 343,563,163.89 due to operational expenditures[12] - The cash inflow from investment activities includes ¥433,889,788.77 from the disposal of subsidiaries and other business units[39] - The net cash flow from operating activities shows a net outflow of CNY -498,781,885.60, compared to CNY -413,556,709.87 in the same period last year[37] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 26,218[6] - The largest shareholder, China Energy Conservation and Environmental Protection Group Co., Ltd., held 22.97% of the shares[6] Expenses - Financial expenses increased by 45.21% to CNY 87,963,899.57, mainly due to increased loans from financial institutions[12] - Research and development expenses for the current period are CNY 62,914,084.10, an increase from CNY 54,402,634.91 in the previous period, showing a growth of 15.5%[31] - The company reported a significant increase in financial expenses, totaling CNY 35,138,598.56, compared to CNY 22,579,610.30 in the previous year, an increase of 55.5%[25] Other Financial Metrics - The weighted average return on net assets was -9.55%, compared to -9.94% in the previous year[3] - The company reported a significant drop in undistributed profits, which fell to CNY 161,273,243.43 from CNY 387,771,441.28, a decrease of approximately 58.49%[20] - The company incurred a credit impairment loss of CNY 96,070,392.40, compared to CNY 8,923,665.58 in the previous period, indicating a significant increase in credit risk[32]