Financial Performance - Operating revenue for the period was CNY 97,592,873.08, down 20.09% year-on-year, and year-to-date revenue decreased by 18.42% to CNY 272,587,801.82[7] - Net profit attributable to shareholders was a loss of CNY 1,588,456.54, a decline of 224.46% compared to the same period last year, with a year-to-date loss of CNY 34,230,267.28, down 137.13%[7] - Basic and diluted earnings per share were both CNY -0.002, reflecting a decrease of 200.00% compared to the previous year[7] - The company reported a net loss of CNY 585,646,500.67 for the period, compared to a loss of CNY 551,416,233.39 in the previous period[34] - Net profit for Q3 2020 was a loss of CNY 597,162.85, compared to a profit of CNY 1,802,354.56 in Q3 2019, representing a significant decline[42] - Total operating revenue for Q3 2020 was CNY 97,592,873.08, a decrease of 20.06% compared to CNY 122,122,264.94 in the same period last year[40] - Total operating revenue for the period was ¥272,587,801.82, a decrease of 18.4% compared to ¥334,129,233.67 in the previous period[47] - Basic and diluted earnings per share for Q3 2020 were both CNY -0.002, compared to CNY 0.002 in the same period last year[43] Assets and Liabilities - Total assets decreased by 33.93% to CNY 1,179,194,013.59 compared to the end of the previous year[7] - The company's current assets totaled CNY 614,438,361.87, down from CNY 745,326,607.49, indicating a reduction of about 17.6%[31][34] - The total liabilities decreased to CNY 417,909,218.48 from CNY 911,409,358.62, reflecting a reduction of approximately 54%[33][34] - The company's equity attributable to shareholders decreased to CNY 761,284,795.11 from CNY 800,564,062.39, a decline of about 4.9%[34] - The company's total liabilities decreased to CNY 398,732,370.70 from CNY 510,978,320.37 year-over-year, a reduction of 22.00%[41] - The company's equity totaled CNY 873,391,449.96, with a capital stock of CNY 712,800,000.00 and an accumulated deficit of CNY -551,416,233.39[65] Cash Flow - The net cash flow from operating activities increased significantly by 779.67% to CNY 33,669,978.44 for the period[7] - Net cash flow from operating activities surged by 7414.53% to ¥70,007,506.84, driven by enhanced collection efforts on receivables[18] - Cash and cash equivalents increased by 99.44% to ¥190,640,679.87 due to the recovery of funds from the sale of subsidiary equity and a decrease in the consolidation scope[16] - Cash inflow from financing activities was CNY 49,453,617.89, a substantial increase from CNY 7,500,000.00 in the previous year[57] - Total cash and cash equivalents increased by CNY 126,207,581.31 during the quarter, contrasting with a decrease of CNY -7,498,573.23 in the same quarter last year[57] Investments and Equity Transactions - The company signed a contract for an EPC+O project with a total value of ¥125 million for a green mining cement material production line[20] - The company completed the transfer of 22% equity in Beijing Innogreen Technology Co., Ltd. for ¥24.82 million, which will no longer be included in the consolidated financial statements[21] - The company signed a contract to transfer 90.21% equity in Suining Baoyuan New Energy Power Co., Ltd. for ¥208,667,942.51, with a payment of ¥180 million already received[22] - The company reported a 96.20% decrease in investment income to ¥3,677,087.44 due to the divestment of loss-making assets[17] - The company reported an investment loss of CNY 3,678,039.47 in Q3 2020, indicating challenges in investment performance[41] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 65,315[10] - The largest shareholder, Xuzhou Fengli Technology Development Investment Co., Ltd., held 21.12% of the shares, amounting to 150,514,615 shares[10] - There were no changes in the company's total share capital due to new share issuance or other reasons during the reporting period[7] Operating Costs and Expenses - Total operating costs for Q3 2020 were CNY 96,894,042.75, down 23.93% from CNY 127,312,636.21 in Q3 2019[41] - The company experienced a 626.90% increase in operating expenses due to donations and other compensation payments related to the pandemic[17] - Research and development expenses for Q3 2020 were CNY 2,976,041.64, a decrease of 16.06% from CNY 3,545,015.64 in Q3 2019[41] - Research and development expenses were ¥9,743,516.26, slightly down from ¥10,177,271.02 in the previous period[47] Future Strategies - Future strategies include enhancing product development and exploring market expansion opportunities, although specific figures were not disclosed[66]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥174,994,928.74, a decrease of 17.46% compared to ¥212,006,968.73 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was -¥32,641,810.74, representing a decline of 135.90% from ¥90,917,783.39 in the previous year[18]. - The basic earnings per share were -¥0.046, a decrease of 135.94% compared to ¥0.128 in the previous year[18]. - The company's total revenue for the reporting period was approximately CNY 174.99 million, a decrease of 17.46% compared to the same period last year[39]. - Operating costs amounted to CNY 132.58 million, down 18.70% year-on-year[41]. - The net profit attributable to shareholders was a loss of CNY 32.64 million, a decrease of 135.90% compared to the previous year[39]. - The company reported a net loss of -12,164,357.00 CNY for the first half of 2020, indicating a significant loss compared to previous periods[64]. - The company reported a net loss of ¥584,058,044.13, compared to a loss of ¥551,416,233.39 in the previous period[152]. - The total comprehensive income for the first half of 2020 was -24,786,449.57 CNY, compared to -4,580,958.71 CNY in the same period of 2019[167]. Cash Flow and Assets - The net cash flow from operating activities increased significantly to ¥36,337,528.40, up 809.17% from ¥3,996,781.72 in the same period last year[18]. - Cash and cash equivalents increased to CNY 79,848,506.39, representing 4.58% of total assets, up from 2.96% year-over-year[48]. - Accounts receivable decreased to CNY 350,145,164.87, making up 20.10% of total assets, down from 22.45% year-over-year[48]. - The company's equity decreased from ¥873,391,449.96 to ¥835,296,662.94, reflecting a decline of approximately 4.4%[152]. - Total assets at the end of the reporting period were ¥1,741,835,281.63, down 2.41% from ¥1,784,800,808.58 at the end of the previous year[18]. - Total liabilities slightly decreased from ¥911,409,358.62 to ¥906,538,618.69, a change of about 0.4%[151]. Research and Development - The company has invested approximately CNY 6.77 million in R&D, reflecting a 2.04% increase from the previous year[41]. - The company completed the development of various models of fully automatic low-nitrogen integrated burners, with the 3.3MW model obtaining certification by June 30, 2020[32]. - The company has established a national-level postdoctoral research station and provincial-level engineering technology research center to enhance its innovation capabilities[31]. - The company has a strong emphasis on research and development in the field of environmental protection equipment[68]. Business Operations - The company is involved in energy-saving combustion, wastewater treatment, and waste incineration power generation as its main business areas[27]. - The company operates under EP, EPC, and BOT business models, with BOT projects typically having a concession period of 25 to 30 years[28]. - The company is involved in the development and sales of various environmental technologies and products, including waste treatment and energy generation[64]. - The company is expanding its market presence through investments in waste-to-energy projects and environmental technology solutions[65]. Risk Management - The company faced significant risks and has outlined measures to address these risks in the report[4]. - The company has established a comprehensive accounts receivable management system to mitigate risks associated with growing receivables[72]. - The company faces risks from increased competition in the environmental sector due to market demand and supportive national policies[71]. - There are concerns regarding rising production costs, which could affect profitability in the environmental services sector[72]. Shareholder Engagement and Governance - The company held its first temporary shareholders' meeting on February 3, 2020, with an investor participation rate of 29.35%[76]. - The annual shareholders' meeting on April 30, 2020, also had a participation rate of 29.36%[76]. - The company guarantees the independence of its operations and financial management, ensuring no direct or indirect competition with its controlling entities[82]. - The company has committed to maintaining a complete and independent operational management system, capable of conducting business independently[81]. Environmental Compliance - The company has established pollution control facilities including SNCR denitrification system, semi-dry desulfurization system, activated carbon injection system, and bag filter system, all of which are operational and meet the emission standards[116]. - The company actively monitors and responds to new national environmental protection standards to ensure compliance[118]. - The company complied with environmental monitoring requirements, implementing annual, quarterly, and monthly monitoring plans for wastewater and air emissions[117]. Financial Reporting and Compliance - The financial report for the first half of the year has not been audited[147]. - The company adheres to the enterprise accounting standards, ensuring that its financial reports accurately reflect its financial status and operational results as of June 30, 2020[192]. - The company maintains a continuous operating assumption, with no significant doubts regarding its ability to continue operations for the next 12 months[191].

Financial Performance - Total revenue for Q1 2020 was ¥45,202,080.98, a decrease of 41.63% compared to ¥77,447,027.08 in the same period last year[7] - Net profit attributable to shareholders was -¥22,895,987.56, representing a decline of 126.07% from ¥87,813,595.13 in the previous year[7] - Basic and diluted earnings per share were both -¥0.0321, down 126.06% from ¥0.1232 in the previous year[7] - The company reported a net loss of CNY 574,312,220.95 as of March 31, 2020, compared to a loss of CNY 551,416,233.39 at the end of 2019[39] - Net loss for Q1 2020 amounted to CNY 26,672,904.96, compared to a net profit of CNY 85,327,877.66 in Q1 2019[46] - The total profit (loss) for the current period is -14,290,673.67, worsening from -7,483,552.35 in the previous period, indicating a decline of approximately 90.5%[50] Cash Flow - Net cash flow from operating activities improved to ¥18,813,695.07, a significant increase of 326.86% compared to -¥8,293,234.86 in the same period last year[7] - The net cash flow from operating activities for the first quarter was ¥10,998,081.80, a slight increase from ¥10,101,332.85 in the previous period, indicating stable operational performance[56] - Total cash inflow from operating activities was ¥49,202,426.00, down 43.7% from ¥87,329,458.40 in the same period last year[56] - Cash outflow from operating activities totaled ¥38,204,344.20, a decrease of 50.7% compared to ¥77,228,125.55 in the previous year[56] - The net cash flow from investing activities is -5,430,964.55, worsening from -2,932,209.57 in the previous period, indicating increased cash outflow[55] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,728,032,993.34, a decrease of 3.18% from ¥1,784,800,808.58 at the end of the previous year[7] - The company's total assets decreased to CNY 1,214,473,769.91 as of March 31, 2020, from CNY 1,248,174,471.51 at the end of 2019[41] - The total liabilities decreased to CNY 881,314,448.33 from CNY 911,409,358.62, reflecting a decline of approximately 3%[37] - The company's equity attributable to shareholders decreased to CNY 777,668,074.83 from CNY 800,564,062.39, a drop of about 3%[39] - Current liabilities totaled CNY 477,496,834.29, a reduction from CNY 495,802,543.70 in the previous period[42] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 56,564[11] - The largest shareholder, Xuzhou Fengli Technology Development Co., Ltd., held 29.32% of the shares, totaling 208,964,615 shares[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] Government Support and Investments - The company received government subsidies amounting to ¥4,151,151.19 during the reporting period[8] - The company has a project in Xiong'an New Area that is expected to generate nearly ¥50 million in annual revenue once operational[17] - The company plans to co-invest in a hydrogen refueling station project in Beijing, which will be the first officially operational hydrogen station in the city[18] Risks and Challenges - The company faces risks from increased competition in the environmental industry, with more potential competitors entering the market[22] - Rising production costs due to inflation and increased labor costs pose a risk to the company's profitability[25] - The company has established a comprehensive accounts receivable management system to mitigate risks associated with growing accounts receivable[26] Operational Efficiency - Cash flow from operating activities increased by 326.86% to ¥18,813,695.07, attributed to improved collection of accounts receivable and reduced operating expenses[16] - The company is committed to maintaining steady revenue growth despite the complex economic environment[19] - The company reported a significant increase in tax expenses, with CNY 2,591,560.55 in taxes and additional charges in Q1 2020 compared to CNY 527,479.27 in the previous year[45] Accounting Standards - The company is implementing new revenue and leasing standards starting from 2020, which may impact future financial reporting[59] - The first quarter report was not audited[70]

Financial Performance - The company's operating revenue for 2019 was ¥513,408,320.75, a decrease of 2.47% compared to ¥526,434,765.68 in 2018[14] - The net profit attributable to shareholders was ¥10,126,586.62, marking a significant turnaround from a loss of ¥475,698,175.60 in the previous year, representing a 102.13% increase[14] - The net cash flow from operating activities improved to ¥35,328,731.43, a 204.01% increase from a negative cash flow of ¥33,965,553.83 in 2018[14] - The total assets of the company decreased by 13.24% to ¥1,784,800,808.58 from ¥2,057,086,844.63 in 2018[14] - The net assets attributable to shareholders increased by 13.99% to ¥800,564,062.39 compared to ¥702,281,501.84 in 2018[14] - The basic earnings per share rose to ¥0.0142 from a loss of ¥0.6674 in the previous year, reflecting a 102.13% improvement[14] - The weighted average return on net assets was 1.43%, a significant recovery from -50.37% in 2018[14] - The company reported a net profit of ¥10,126,586.62, while the net profit after deducting non-recurring gains and losses was -¥90,406,023.94, indicating ongoing challenges in core operations[14] - The company has not experienced consecutive losses in the past two years, indicating a potential stabilization in financial performance[15] Revenue and Segment Performance - The company's total revenue for Q4 was approximately 179.28 million, showing a significant increase compared to Q1's 77.45 million[16] - The net profit attributable to shareholders for Q4 was -82.07 million, a stark contrast to Q1's profit of 87.81 million[16] - The net cash flow from operating activities in Q4 was 36.29 million, recovering from a negative cash flow of -8.29 million in Q1[16] - The revenue from the waste-to-energy segment surged by 97.63% to CNY 58.25 million, contributing 11.35% to total revenue[51] - The water treatment segment generated CNY 209.99 million, accounting for 40.90% of total revenue, with a year-on-year growth of 16.11%[52] Strategic Initiatives and Investments - The company aims to enhance its core competitiveness in waste incineration power generation and sewage treatment, leveraging the growing environmental protection industry[25] - The company has acquired a 49% stake in Hebei Xiong'an Lizi Environmental Technology Co., which is expected to generate nearly 50 million annually after project completion[26] - A hydrogen energy project in Xuzhou is under development, with a planned total investment of approximately 500 million RMB, covering an area of about 200 acres[27] - The company aims to strengthen core competitiveness across various business areas to form an ecological industrial chain[42] - The company is focusing on refining management practices to improve operational efficiency and ensure accurate cost accounting[44] Research and Development - The company developed a fully automatic ultra-low nitrogen integrated burner, with 3.3MW model obtaining type test certification by the end of 2019[34] - Research and development expenses decreased by 48.51% to CNY 16.23 million, attributed to the divestiture of non-performing assets[62] - The total number of R&D personnel was 67 in 2019, accounting for 19.14% of the workforce, an increase from 10.89% in 2018[66] - The company has invested in research and development for new technologies in the fields of bioenergy and environmental protection, aiming to improve operational efficiency[83] Governance and Compliance - The company has committed to maintaining independent operations, including financial independence and management autonomy, as part of its governance structure[102] - The company has established an independent financial department and accounting system, allowing for autonomous financial decision-making[184] - The company emphasizes the importance of maintaining stable and healthy development to protect the rights of all shareholders and investors[116] - The company has faced scrutiny from regulatory authorities regarding the disclosure of information related to its major shareholders and actual controllers[123] Shareholder Relations and Capital Management - The company plans not to distribute cash dividends or issue bonus shares[5] - The total cash dividend for 2019 was 0.00 yuan, with a net profit attributable to the parent company of 10,126,586.6 yuan, resulting in a cash dividend ratio of 0.00%[101] - The company emphasized the importance of long-term development and stable returns for investors, leading to the decision not to distribute profits this year[100] - The total number of common shareholders at the end of the reporting period was 58,945, an increase from 56,564 at the beginning of the period[153] Operational Challenges and Adjustments - The company reported a significant loss of 2.56 million from its subsidiary Xiong'an Kairong Intelligent Environmental Technology Co., Ltd., indicating challenges in this segment[84] - The subsidiary Xuzhou Kairong Technology Development Co., Ltd. recorded a revenue of 56.18 million, but faced a net loss of 25.02 million, indicating a significant operational challenge[82] - The company has undergone changes in accounting policies in accordance with the new financial instrument standards effective from January 1, 2019[117] - The company has committed to actively resolving debt-related issues and may engage professional intermediaries for assistance[114] Market Position and Future Outlook - The company is positioned to benefit from the rapid growth of the environmental protection industry, with the added value of the industry expected to account for approximately 3% of the GDP by 2020[88] - The company plans to leverage its core competencies in combustion control and expand its market presence in waste incineration and wastewater treatment sectors[93] - The company is transitioning from being a supplier of energy-saving and environmentally friendly combustion control equipment to a renewable energy operator, enhancing its competitive edge[85] - The company has outlined plans for future acquisitions to enhance its market position[78]

Financial Performance - The company's operating revenue for 2019 was ¥513,408,320.75, a decrease of 2.47% compared to ¥526,434,765 in 2018[14] - The net profit attributable to shareholders was ¥10,126,586.62, representing a significant increase of 102.13% from a loss of ¥475,698,175.60 in the previous year[14] - The net cash flow from operating activities improved to ¥35,328,731.43, a 204.01% increase from a negative cash flow of ¥33,965,553.83 in 2018[14] - The basic earnings per share rose to ¥0.0142, compared to a loss of ¥0.6674 per share in 2018, marking a 102.13% improvement[14] - The total assets at the end of 2019 were ¥1,784,800,808.58, a decrease of 13.24% from ¥2,057,086,844.63 in 2018[14] - The net assets attributable to shareholders increased by 13.99% to ¥800,564,062.39 from ¥702,281,501.84 in 2018[14] - The weighted average return on equity was 1.43%, a recovery from -50.37% in the previous year[14] - The company reported no continuous losses over the last two years[14] - Non-recurring gains for 2019 amounted to approximately 100.53 million, significantly impacting the overall financial performance[21] - The company reported a total revenue of 470.92 million for the year, with a significant increase in user data from 134.65 million to 470.92 million, reflecting a growth of approximately 250%[84] Revenue Breakdown - The clean combustion and boiler energy efficiency segment generated CNY 245.17 million, accounting for 47.75% of total revenue, with a decline of 9.96% year-on-year[51] - The waste-to-energy segment saw a remarkable increase in revenue by 97.63%, reaching CNY 58.25 million, representing 11.35% of total revenue[51] - Water treatment segment revenue grew by 16.11% to CNY 209.99 million, making up 40.90% of total revenue[52] Operational Developments - The company aims to enhance its core competitiveness in waste incineration power generation and sewage treatment, leveraging the growing environmental protection industry[25] - The company has acquired a 49% stake in Hebei Xiong'an Lizi Environmental Technology Co., which is expected to generate nearly 50 million annually after project completion[26] - A hydrogen energy project in Xuzhou is under development, with a total planned investment of approximately 500 million RMB, covering an area of about 200 acres[27] - The company completed approximately 120,000 tons of household waste input and generated about 30 million kWh of electricity in the garbage incineration power generation sector[42] - The company secured 57 new orders in the sewage treatment sector, with a total contract amount of approximately 260 million yuan[42] Research and Development - The company has a total of 89 valid patents, including 30 invention patents and 59 utility model patents[37] - The company developed a fully automatic ultra-low nitrogen integrated combustion machine, with 3.3MW model obtaining type test certification by the end of 2019[34] - Research and development expenses decreased by 48.51% to CNY 16.23 million, attributed to the divestiture of non-performing assets[62] - The total number of R&D personnel was 67 in 2019, accounting for 19.14% of the workforce, an increase from 10.89% in 2018[66] - Research and development investment amounted to ¥16,225,142.26 in 2019, representing 3.16% of operating revenue, a decrease from 5.99% in 2018[66] Financial Management - The company plans to enhance financial management by improving accounts receivable collection and accelerating cash flow[45] - Accounts receivable decreased by 56.72% compared to the beginning of the period, mainly due to an increase in bill settlements[31] - Prepayments decreased by 77.45% compared to the beginning of the period, primarily due to the company's divestment of loss-making assets[31] - Long-term equity investments increased by 533.37% compared to the beginning of the period, mainly due to new significant influence investments[31] Governance and Compliance - The company has committed to maintaining the independence of its assets and financial management, ensuring no misuse of funds or resources[104] - The company has established an independent financial department and accounting system to ensure financial decision-making autonomy[104] - The company has acknowledged the non-standard audit report and is taking steps to address the highlighted issues to protect investor interests[111] - The company is under investigation by the China Securities Regulatory Commission for potential false disclosures related to its major shareholders[125] - The company has implemented measures to ensure compliance and address the issues raised by the audit report[118] Shareholder Relations - The company plans not to distribute cash dividends or issue bonus shares[5] - The total cash dividend for 2019 was 0.00 yuan, with a net profit of 10,126,586.6 yuan, resulting in a cash dividend ratio of 0.00%[103] - The company emphasizes the importance of investor returns, aligning its profit distribution policy with relevant laws and regulations[102] - The company has committed to ensuring the independence of its organizational structure and governance, with no overlap with controlled entities[104] Market Strategy - The company is focusing on expanding its market presence through strategic acquisitions and partnerships in the environmental technology sector[81] - The company aims to increase its market share by leveraging its technological advancements and expanding its service offerings[81] - The company is committed to maintaining a sustainable growth trajectory through innovative solutions in environmental technology[81] - The company has outlined future guidance that includes a focus on profitability and operational efficiency across its subsidiaries[81] Employee and Management Structure - The total number of employees in the company is 641, with 326 in the parent company and 315 in major subsidiaries[176] - The company has a professional composition of 195 production personnel, 53 sales personnel, 136 technical personnel, 32 financial personnel, and 225 administrative personnel[176] - The company organized a total of 2,833 training hours in 2019, covering management training, skills training, onboarding training, and qualification training[178] - The company has established a market-oriented compensation system that links performance assessment to individual value returns[177] Risk Management - The company has committed to enhancing internal governance and risk management to prevent future related party fund occupation issues[111] - The company’s independent directors expressed support for the audit opinions and emphasized the need for ongoing monitoring of the company’s financial practices[113] - The company has not reported any changes in the shareholding structure of major shareholders during the reporting period[160]

Financial Performance - Operating revenue for the reporting period was CNY 122,122,264.94, an increase of 45.91% year-on-year[7]. - Net profit attributable to shareholders was CNY 1,276,246.41, representing a 100.57% increase compared to the same period last year[7]. - Basic earnings per share for the reporting period was CNY 0.002, an increase of 100.64% year-on-year[7]. - The weighted average return on net assets was 0.17%, an increase of 17.76% compared to the previous year[7]. - Net profit reached ¥92,422,267.77, a 133.33% increase compared to a net loss of ¥277,302,402.44 in the previous year[16]. - The company reported a net loss of ¥469,348,790.21, improving from a loss of ¥561,542,820.01 in the previous period[28]. - Total operating revenue for Q3 2019 was CNY 122,122,264.94, an increase of 45.9% compared to CNY 83,699,745.34 in the same period last year[35]. - Net profit for Q3 2019 was CNY 1,802,354.56, a significant improvement from a net loss of CNY 229,185,904.78 in Q3 2018[36]. - The company reported a gross profit margin of approximately 3.3% in Q3 2019, compared to a negative margin in the previous year[35]. - The company reported a total comprehensive income of ¥92,422,267.77, recovering from a loss of ¥277,302,402.44[43]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,802,047,690.66, a decrease of 12.40% compared to the end of the previous year[7]. - Total current assets decreased to ¥825,243,518.16 from ¥1,002,385,985.58, a decline of approximately 17.7% year-over-year[26]. - Total non-current assets decreased to ¥976,804,172.50 from ¥1,054,700,859.05, a decline of about 7.4%[26]. - Total liabilities decreased to ¥937,094,691.54 from ¥1,340,431,837.91, a reduction of approximately 30.0%[27]. - The total assets decreased to ¥1,802,047,690.66 from ¥2,057,086,844.63, a decline of approximately 12.4%[26]. - The total liabilities decreased to CNY 425,117,135.68 in Q3 2019 from CNY 575,559,385.07 in the previous year, a decline of 26.1%[33]. - Total liabilities reached ¥575,559,385.07, with current liabilities at ¥545,869,377.22[65]. - The total current liabilities represent approximately 39% of total assets, indicating a significant short-term financial obligation[64]. Cash Flow - The net cash flow from operating activities for the year-to-date was CNY -957,101.38, a decrease of 98.52% compared to the previous year[7]. - Cash flow from operating activities improved by 98.52%, reducing the net outflow to -¥957,101.38[16]. - Cash inflow from operating activities was 351,149,173.83 CNY, down from 458,555,095.18 CNY in the previous period, indicating a decrease of approximately 23.4%[49]. - The net cash flow from operating activities was -957,101.38 CNY, an improvement from -64,842,779.82 CNY in the previous period[50]. - The net cash flow from investing activities was 36,211,598.60 CNY, compared to 99,715,032.11 CNY in the previous period, reflecting a decrease of about 63.7%[51]. - Total cash outflow from operating activities was 352,106,275.21 CNY, down from 523,397,875.00 CNY in the previous period, a decrease of about 32.7%[50]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 64,577[11]. - The largest shareholder, Xuzhou Fengli Technology Development Investment Co., Ltd., held 29.32% of the shares, totaling 208,964,615 shares[11]. Investment and Expenses - Investment income surged by 748.39% to ¥96,843,988.86 following the divestiture of loss-making assets[16]. - Research and development expenses decreased by 49.88% to ¥10,177,271.02 due to asset divestiture[16]. - Research and development expenses decreased to CNY 3,545,015.64 in Q3 2019 from CNY 6,942,695.96 in Q3 2018, a reduction of 48.9%[35]. - The company’s financial expenses decreased to ¥8,139,647.34 from ¥10,088,402.93, indicating improved cost management[40]. Changes in Financial Position - Accounts receivable increased by 78.94% to ¥34,429,936.39 due to increased bill settlements[16]. - Prepayments decreased by 74.84% to ¥32,046,692.06 as a result of asset divestiture[16]. - The company reduced its accounts payable by 52.95% to ¥254,521,880.88 as a result of asset divestiture[16]. - Deferred tax liabilities decreased by 95.51% to ¥292,670.72 due to the divestiture of loss-making assets[16]. - The minority interest increased by 390.33% to ¥70,477,467.48 following the divestiture of loss-making assets[16]. - The company reported an asset impairment loss of CNY 3,794,567.38 in Q3 2019, a significant reduction from CNY 143,509,059.77 in the previous year[36]. - The total assets impairment loss was reported at ¥3,293,209.66, compared to a significant loss of ¥201,376,150.42 in the previous period[42]. Future Outlook - The company has a projected outlook for future growth, focusing on market expansion and new product development strategies[59].

Financial Performance - Total operating revenue for the first half of 2019 was CNY 212,006,968.73, a decrease of 12.60% compared to CNY 242,579,965.08 in the same period last year[17]. - Net profit attributable to shareholders was CNY 90,917,783.39, a significant increase of 332.02% from a loss of CNY 39,186,006.25 in the previous year[17]. - Net profit after deducting non-recurring gains and losses was CNY 2,137,327.70, up 104.45% from a loss of CNY 48,023,276.83 in the same period last year[17]. - Basic earnings per share were CNY 0.128, compared to a loss of CNY 0.055 per share in the same period last year, representing an increase of 332.73%[17]. - The company's total revenue for the reporting period was approximately 212 million RMB, a decrease of 12.60% year-on-year[47]. - The net profit attributable to shareholders of the listed company was approximately 90.92 million RMB, an increase of 332.02% year-on-year[47]. - The company reported a net profit of 93,923,648.72 RMB from the sale of Blue Sky Environmental Equipment Engineering Co., Ltd. and 3,086,888.17 RMB from the sale of Wuhan Fuel Control Technology Thermal Engineering Co., Ltd., optimizing its asset structure[64]. - The company reported a significant increase in investment income to CNY 96,843,988.86, up from CNY 20,913,692.69 in the previous year[141]. Cash Flow and Liquidity - Net cash flow from operating activities was CNY 3,996,781.72, an increase of 121.87% compared to a negative cash flow of CNY 18,274,195.70 in the previous year[17]. - Cash and cash equivalents decreased by 46.84% compared to the beginning of the period, primarily due to repayment of bank loans and a reduction in the scope of consolidation[31]. - The net cash flow from investment activities was -988,901.43, a decline of 101.85% compared to the previous year, as there were no recoveries from equity investments[49]. - The net cash flow from financing activities was -34,788,672.75, a decrease of 42.99% due to repayment of short-term and long-term borrowings[49]. - The company's cash and cash equivalents decreased by 23.46% to -31,780,758.72, primarily due to loan repayments[49]. - The company’s cash and cash equivalents were CNY 52,473,459.42, significantly lower than CNY 98,701,097.68 at the end of 2018, marking a decline of about 46.9%[130]. - The ending cash and cash equivalents balance decreased to ¥488,801.66 in 2019 from ¥5,304,675.68 in 2018, indicating a decline of approximately 91%[152]. Assets and Liabilities - The company's total assets decreased by 13.92% to ¥1,770,826,482.14 compared to the end of the previous year[18]. - The company's total liabilities decreased from CNY 1,340,431,837.91 at the end of 2018 to CNY 907,675,837.59, reflecting a reduction of about 32.2%[133]. - Current assets totaled CNY 787,686,081.03 as of June 30, 2019, down from CNY 1,002,385,985.58 at the end of 2018, indicating a decrease of approximately 21.4%[131]. - The total liabilities at the end of the reporting period were 1,501,000,000 yuan, indicating a need for strategic financial management[159]. - The total equity at the end of the reporting period was 716,655,000 yuan, showing a slight increase from the previous period[159]. Business Operations and Strategy - The company plans to focus on hydrogen energy development, aiming to build a full industry chain for hydrogen energy preparation and storage[27]. - The company’s core business segments include energy-saving combustion, sewage treatment, and waste incineration power generation[28]. - The company aims to expand its market layout in waste incineration power generation, with ongoing projects in Jiangsu and Shandong[30]. - The company is focusing on enhancing its core competitiveness in waste-to-energy, sewage treatment, and energy-saving combustion sectors[41]. - The company operates under EP, EPC, and BOT business models for its energy-saving and environmental protection projects[29]. Risk Management and Compliance - The company received an investigation notice from the China Securities Regulatory Commission on August 7, 2019, and will cooperate with the investigation[4]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[4]. - The company has committed to enhancing internal governance and risk management to address non-standard audit opinions[80]. - The company acknowledges external risks related to project construction delays due to the need for multiple approvals[71]. - The company faces risks related to professional competitiveness as the domestic pollution market opens up, requiring higher technical and management standards[67]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company held two shareholder meetings during the reporting period, with participation rates of 29.34% and 29.32%[74]. - The controlling shareholder held 208,964,615 shares, accounting for 29.32% of the total share capital, with all shares judicially frozen[87]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[120]. Research and Development - Research and development expenses were reduced by 50.38% to 6,632,255.38, indicating a significant cutback in R&D investment[49]. - The company developed a new type of plasma generator, achieving historical best records in reliability and electrode lifespan[34]. - The company has been recognized as a national high-tech enterprise and has established a national-level postdoctoral research station[33]. Legal and Regulatory Matters - The company received an administrative penalty from the China Securities Regulatory Commission (CSRC) for false disclosures and was ordered to rectify issues within 60 working days[86]. - There are ongoing legal disputes involving amounts of approximately 7,356.35 million and 7,316.4 million related to payment requests and construction contracts, respectively[83]. - The company has not conducted an audit for the half-year financial report[78].

Financial Performance - The company's operating revenue for 2018 was ¥526,434,765, a decrease of 20.45% compared to ¥661,795,558 in 2017[16]. - The net profit attributable to shareholders was -¥475,698,175, representing a decline of 4,709.08% from a profit of ¥37,459,960.4 in the previous year[16]. - The net profit excluding non-recurring gains and losses was -¥439,344,171.51, a decrease of 432.02% compared to -¥55,441,013.10 in 2017[16]. - The total assets at the end of 2018 were ¥2,057,086,844.63, down 32.03% from ¥3,286,745,640.84 at the end of 2017[16]. - The net assets attributable to shareholders decreased by 40.60% to ¥702,281,501.84 from ¥1,396,390,264.73 in 2017[16]. - The basic earnings per share for 2018 was -¥0.6674, a significant drop of 4,702.76% from ¥0.05 in the previous year[16]. - The cash flow from operating activities was -¥33,965,553, improving by 66.53% from -¥101,481,954 in 2017[16]. - The weighted average return on equity was -50.37%, a decrease of 51.25% from 2.72% in 2017[16]. - The total revenue for the reporting period was CNY 526.43 million, a decrease of 20.45% compared to the previous year[49]. - Operating costs amounted to CNY 452.34 million, down 13.65% year-on-year[54]. - The net profit attributable to the parent company was CNY -47.57 million, a decrease of CNY 4.71 million compared to the previous year[49]. Business Strategy and Development - The company aims to develop hydrogen energy as part of its strategy to reduce reliance on traditional energy sources and enhance environmental protection[27]. - The strategic focus will be on environmental governance needs in Xiong'an New Area, with plans to expand services nationwide and along the "Belt and Road" initiative[27]. - The company operates in three core business segments: energy-saving combustion, flue gas treatment, and water environment governance[28]. - The company is committed to integrating its traditional business advantages with emerging energy developments to enhance its competitive edge[26]. - The company operates under the EP and EPC business models, focusing on energy conservation and environmental protection, ensuring quality, safety, costs, and progress under fixed-price contracts[30]. - The company aims to transition from being a supplier of energy-saving equipment to a renewable energy operator, enhancing its profitability and competitiveness[78]. - The company is actively involved in the investment and construction of waste incineration projects, which are crucial for its strategic development[78]. - The company plans to enhance quality and safety training, focusing on design quality and manufacturing quality to improve customer satisfaction[90]. - The company is focusing on new markets such as VOCs and large torches to seek new growth points amid a shrinking traditional market[90]. Research and Innovation - The company has developed into a large group with a focus on technology and performance, maintaining a leading position in the energy-saving combustion industry with significant market shares in various systems[31]. - The company has established Asia's largest combustion laboratory and holds a considerable market share in plasma, dual-strong low-oil, and waste incineration technologies[31]. - In 2018, the company achieved significant technological advancements, including a NOx emission level of less than 250 mg/Nm³ for its swirl coal powder burner, which is considered a domestic leading standard[36]. - The company holds a total of 152 valid patents, including 65 held by the listed company and 87 by subsidiaries, reflecting its strong innovation capabilities[38]. - The company has received multiple national awards for its technological innovations, including the National Science and Technology Progress Award and the National Technology Invention Award[35]. - The company is enhancing its research and development efforts in low-nitrogen combustion technology and waste gas treatment to maintain competitive advantage[90]. Risk Management and Governance - The company has acknowledged the existence of various risks in its future development outlook[4]. - The company faces risks from increased competition in the environmental protection industry due to the entry of state-owned enterprises and private capital[92]. - The company is implementing cost control measures to mitigate risks from rising production costs in the environmental sector[96]. - The company has established a comprehensive accounts receivable management system to improve turnover rates amid growing receivables[97]. - The company has committed to maintaining independent operations, including financial independence and management autonomy, as part of its governance structure[108]. - The company has a rigorous governance structure, complying with relevant laws and regulations, ensuring effective operation of the board and shareholder meetings[195]. - The company emphasizes transparency in information disclosure, utilizing multiple channels to maintain good investor relations[197]. Shareholder and Financial Management - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company reported a net profit attributable to shareholders of -475,698,175.60 yuan for 2018, resulting in no cash dividends or stock bonuses being distributed[107]. - The company has a consistent policy of not distributing dividends in years with negative net profits[107]. - The company has committed to distributing at least 10% of the current year's distributable profits in cash dividends, with a cumulative distribution of no less than 30% of the average annual distributable profits over the last three years[110]. - The company reported a total of 1,100 million yuan in expected related party transactions, with 701.94 million yuan actually occurring during the reporting period[136]. - The company has not engaged in any direct or indirect business activities that compete with its listed operations, ensuring no substantial competition exists[109]. Management Changes - The company has seen a turnover in its senior management with multiple resignations in 2018[175]. - The company appointed new executives including 李晓光 as the current general manager from March 2018[175]. - The company experienced significant changes in its board and management personnel, with multiple resignations due to personal reasons throughout 2018[176]. - The company appointed Ge Bing as the new General Manager on January 15, 2019, following the resignation of Li Xiaoguang[176]. Compliance and Regulatory Issues - The company faced administrative penalties from the China Securities Regulatory Commission for violations of securities laws, with notifications received on August 9, 2018[132]. - The company has completed rectification work within 60 working days as required by regulatory authorities regarding previous financial discrepancies[113]. - The independent directors have reviewed the non-standard audit report and support the board's measures to improve operational stability and protect investor interests[122]. - The company has not faced any situations that could lead to suspension or termination of its listing[130].

Financial Performance - The company's operating revenue for 2016 was approximately ¥764.87 million, a decrease of 23.41% compared to ¥998.64 million in 2015[23]. - The net loss attributable to shareholders was approximately ¥291.73 million, representing a significant decline of 7,527.20% from a profit of ¥3.93 million in 2015[23]. - The cash flow from operating activities was ¥243.14 million, a drastic improvement from a negative cash flow of ¥120.80 million in 2015[23]. - Total assets at the end of 2016 were approximately ¥2.82 billion, down 12.99% from ¥3.24 billion at the end of 2015[24]. - The net assets attributable to shareholders decreased by 18.71% to approximately ¥1.17 billion from ¥1.44 billion in 2015[24]. - The basic earnings per share for 2016 was -¥0.41, a decline of 4,200.00% compared to ¥0.04 in 2015[23]. - The company reported a significant adjustment in accounting policies, leading to a restatement of previous years' financial data[23]. - The company reported a total revenue of CNY 124,699,246.54 in Q1 2016, with a net profit attributable to shareholders of CNY -317,197,807.62[32]. - The company reported a total revenue of 486,785,358 with a net loss of 30,189,730 for the year[104]. - The company reported a net profit of -6,441,000 RMB for the year 2016, indicating a significant loss[100]. Cash Dividends - The company plans to distribute a cash dividend of 0.03 CNY per 10 shares (including tax) based on a total of 712,800,000 shares, with no bonus shares issued[10]. - The company distributed a cash dividend of 0.04 yuan per share, totaling 2.85 million yuan, based on a total share capital of 712.8 million shares as of December 31, 2015[116]. - The total distributable profit for the year is 43,456,955.42 yuan, with cash dividends accounting for 100% of the profit distribution[120]. - The company did not implement a capital increase from capital reserves in 2016, and the remaining undistributed profits will be carried forward to the next year[120]. - The company has consistently prioritized cash dividends, with a minimum of 10% of the distributable profit allocated for cash distribution each year[118]. - The company’s cash dividend policy requires independent directors to provide clear opinions on the timing, conditions, and ratio of cash dividends[118]. - The company’s profit distribution plan is consistent with its articles of association and dividend management measures[118]. - The company has established a mechanism for communication with minority shareholders regarding cash dividend proposals[118]. - The cash dividend distribution process is compliant and transparent, requiring board approval and shareholder meeting resolution[118]. Risks and Challenges - The company faces risks related to accounts receivable, which have been growing rapidly alongside business expansion, although they are in line with industry characteristics[8]. - The company acknowledges potential risks from investment projects that may be affected by changes in national industrial policies and macroeconomic conditions[9]. - The company’s management faces challenges in adapting to the increasing complexity of operations as the business expands and diversifies[10]. - The company has implemented provisions for bad debts based on the aging of accounts receivable, maintaining a cautious approach to financial management[8]. - The company reported a significant decline in the growth rate of installed capacity in the thermal power sector, dropping from 23.62% in 2006 to 5.24% in 2014, impacting the demand for its traditional energy-saving and flue gas treatment businesses[5]. - The company faced significant operational challenges due to fluctuations in natural gas and diesel prices, impacting profitability[148]. Market and Competitive Position - The company has a strong competitive position in its business areas, but the market remains fragmented with many participants, leading to intense competition[6]. - The company’s traditional business segments are heavily influenced by the performance of the downstream power industry, particularly thermal power[5]. - The company is focusing on expanding its market presence, particularly in the energy and environmental sectors[103]. - The company aims to enhance its comprehensive competitiveness by integrating resources and optimizing internal management, covering various environmental governance areas[112]. - The company is actively participating in PPP projects, leveraging national environmental protection policies to enhance its service capabilities[44]. Research and Development - The company’s R&D team successfully developed new clean combustion equipment, enhancing its traditional energy-saving combustion business[41]. - The company has acquired Innogreen and Xinjiang Jun Chuang, actively entering the water treatment and solid waste treatment sectors, and has established a strategic presence in multiple cities including Beijing, Hangzhou, and Wuhan[47]. - The company has made significant progress in R&D, achieving a reduction in nitrogen oxide emissions from gas burners to as low as 26 mg/m³, meeting national and local environmental standards[76]. - The company successfully developed ultra-low nitrogen burners and systems for gas industrial boilers, achieving pollutant emission data of NOx less than 30 mg/m³ and CO less than 30 mg/m³ for single burner configurations[77]. - The company reported a research and development investment of ¥44,017,164.85 in 2016, accounting for 5.75% of operating revenue, with a total of 73 R&D personnel, representing 10.08% of the workforce[79]. Strategic Initiatives - The company plans to enhance its market expansion strategies and invest in new technologies to improve future performance[23]. - The company is focusing on the PPP model as a key reform approach, which is expected to provide new opportunities for external expansion[44]. - The company aims to enhance operational efficiency through refined management practices and has implemented a differentiated assessment system for subsidiaries[53]. - The company has established a comprehensive environmental governance service platform, covering areas such as flue gas treatment and ecological environment governance[47]. - The company is involved in the research and development of energy-saving products and technologies, although specific new products were not mentioned[103]. Governance and Management - The company has a stable management team with all current executives holding zero shares at the beginning and end of the reporting period[182]. - The company has a structured approach to governance, with independent directors and a supervisory board in place[192]. - The company has a performance assessment system for determining the remuneration of directors and senior management, based on a 1:1 ratio of base salary to performance salary[193]. - The company’s independent directors' allowances are approved by the shareholders' meeting before being issued[193]. - The company has seen a turnover in its board members, with several directors leaving, including the vice chairman and other key positions[183]. Asset Management - The company reported a total guarantee amount of 23,900,000 RMB during the reporting period, with an actual guarantee amount of 22,115,790 RMB[158]. - The total guarantee amount at the end of the reporting period was 108,900,000 RMB, with an actual guarantee balance of 41,824,350 RMB, representing 35.64% of the company's net assets[158]. - The company has not engaged in any significant new product or technology development initiatives during the reporting period[148]. - The company has not reported any joint external investment transactions during the reporting period[149]. - The company has not provided guarantees for shareholders, actual controllers, or their related parties during the reporting period[158].

Financial Performance - The company's operating revenue for 2015 was ¥998,642,626.01, representing an increase of 18.53% compared to ¥842,523,041.37 in 2014[22]. - The net profit attributable to shareholders for 2015 was ¥3,927,800.28, a significant decrease of 90.78% from ¥42,584,434.08 in 2014[22]. - The net cash flow from operating activities was -¥120,802,809.00, showing a drastic increase of 2,406.98% compared to -¥4,818,654.01 in 2014[22]. - The total assets at the end of 2015 amounted to ¥3,238,712,404.00, an increase of 18.32% from ¥2,737,136,805.10 at the end of 2014[22]. - The basic earnings per share for 2015 was ¥0.01, down 83.33% from ¥0.06 in 2014[22]. - The company reported a net profit attributable to shareholders after deducting non-recurring gains and losses of -¥1,090,133.79 in 2015, a decline of 104.71% from ¥23,147,227.44 in 2014[22]. - The weighted average return on equity for 2015 was 0.27%, down from 2.92% in 2014, indicating a decrease of 2.65%[22]. - The company's total revenue for the reporting period was CNY 998.64 million, representing an 18.53% increase compared to the previous year[51]. - Operating costs amounted to CNY 748.69 million, which is a 21.01% increase year-over-year[59]. - The net profit attributable to the parent company was CNY 3.93 million, a decrease of 90.78% compared to the previous year[51]. Investment and Acquisitions - The company acquired Beijing Innogreen Technology Co., Ltd. in March 2015, marking its entry into the water resources and environmental management industry, with a focus on various water treatment projects[33]. - The company acquired 51.31% equity of Innogreen, becoming its controlling shareholder, and included it in the consolidated financial statements starting from June 2015[64]. - The revenue from the newly consolidated business of Innogreen was ¥113.55 million, accounting for 11.37% of the company's total operating income[65]. - The company completed the acquisition of Xinjiang Jun Chuang Energy Equipment Co., Ltd., which will strengthen its natural gas distributed energy management capabilities[93]. - The company plans to acquire the remaining 49% stake in Xinjiang Jun Chuang for ¥15 million, which will result in full ownership[144]. Market and Competition - The company operates in a highly competitive market for energy-saving and environmental protection industries, necessitating continuous improvement in technology and cost management[7]. - The company faces risks from intense market competition in the energy-saving and environmental protection sectors, requiring continuous improvement in technology and management[116]. - The company is leveraging national environmental protection policies to expand its market presence and enhance its operational capabilities through strategic acquisitions and partnerships[36]. - The company aims to enhance its environmental governance strategy, focusing on smoke control, water treatment, solid waste management, and energy-saving services[104]. Risks and Challenges - The company faces risks related to accounts receivable, which have been growing rapidly alongside business expansion, although they remain in line with industry characteristics[8]. - The company acknowledges the risk of project delays and payment delays due to changes in national industrial policies and macroeconomic conditions[10]. - The company has seen a rapid increase in accounts receivable, which aligns with revenue growth, but potential risks exist if major clients' financial conditions deteriorate[117]. - Financial expenses are expected to increase significantly due to ongoing investment projects, prompting the company to enhance fund management[119]. Research and Development - The company has developed core technologies in flue gas treatment, including "near-zero emissions" projects and various flue gas purification systems, enhancing its competitive edge in the energy and environmental protection sector[31]. - The company has completed the technical research and development of low-nitrogen combustion technology and has received several project orders, expanding its market outreach[69]. - The company has filed for four patents related to water treatment technologies, enhancing its competitive edge in the industry[70]. - Research and development expenses amounted to approximately ¥52.95 million in 2015, representing 5.30% of the company's operating income[72]. Strategic Goals and Future Outlook - The company aims to transform into a comprehensive environmental governance platform, enhancing its business layout and integrating new business areas[44]. - The company is focused on transitioning from traditional business models to more advanced models such as BOT and PPP[104]. - The company aims to achieve a significant increase in waste treatment capacity, targeting a daily capacity of 580,000 tons during the "12th Five-Year Plan" period[102]. - The company plans to increase its investment in environmental protection projects, with an expected additional output value of approximately 1.9 trillion yuan from the water pollution prevention plan[101]. - The company aims to enhance its project investment decision-making process by implementing an expert evaluation mechanism[105]. Shareholder and Governance - The company has established a profit distribution policy, ensuring that cash dividends will be at least 10% of distributable profits in profitable years[124]. - The company plans to distribute a cash dividend of 0.04 yuan per 10 shares, totaling 2,851,200 yuan for the fiscal year 2015[130]. - The total distributable profit for the year is reported at 212,643,287.96 yuan[130]. - The company has a commitment to provide financial support to its subsidiaries without engaging in high-risk investments within 12 months after such support[138]. - The company has maintained a commitment to avoid engaging in any business activities that would compete with its own operations[138]. Operational Efficiency and Management - The company is committed to optimizing its management mechanisms and implementing a differentiated performance evaluation system to improve operational efficiency[106]. - The company intends to strengthen financial management by analyzing profit and loss across business segments and enhancing accounts receivable management[108]. - The company aims to establish a robust performance evaluation system that aligns with its operational goals and ensures accountability[109]. - The company emphasizes a merit-based culture, promoting talent through internal training and fair competition[113].