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 -¥143,877,293.60, down 74.23% from -¥55,441,013.10 in 2017[16]. - The total assets at the end of 2018 were ¥2,057,086,844.63, a decrease of 32.03% from ¥3,286,745,640.84 in 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 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 47.09 million compared to the previous year[49]. - The revenue from the energy-saving and environmental protection industry accounted for 100% of total revenue, with a significant decline of 20.45%[52]. Cash Flow and Financial Management - The cash flow from operating activities was -¥33,965,553, a 66.53% improvement compared to -¥101,481,954 in 2017[16]. - The company reported a significant increase in cash flow from operating activities in the fourth quarter, amounting to approximately ¥76.31 million, contrasting with negative cash flows in the earlier quarters[19]. - The company achieved a net cash flow from operating activities of -¥33,965,553.83, an improvement of 66.53% compared to the previous year[66][67]. - Total cash inflow from investment activities decreased by 50.81% to ¥169,204,007.00, while cash outflow dropped by 98.31% to ¥6,496,407.85[66]. - The company reported a significant reduction in cash flow from financing activities, with a net outflow of -¥127,465,440.94, a decrease of 560.06% year-on-year[66][67]. - The company has successfully repaid bank loans during the reporting period, indicating a focus on financial stability and asset management[33]. Strategic Focus and Business Development - The company plans to focus on hydrogen energy development, aiming to establish a full industry chain for hydrogen production, storage, and transportation[27]. - The strategic focus will shift towards environmental governance needs in the Xiong'an New Area, leveraging traditional business advantages and emerging energy research[27]. - The company aims to transition from being a supplier of energy-saving and environmental combustion control equipment to a renewable energy industry operator, enhancing profitability and competitiveness[78]. - The company is focusing on the development of renewable energy projects, which are seen as a strategic move to strengthen its market position[78]. - The company plans to enhance its financing channels through partnerships with financial institutions, improving efficiency and reducing costs for future business development[87]. Research and Development - The company has established two national-level postdoctoral research stations and is recognized as a national high-tech enterprise, reflecting its commitment to innovation and technology development[35]. - R&D expenses rose significantly by 56.87% to ¥31,513,943.74, representing 5.99% of total revenue[62][64]. - The number of R&D personnel increased to 75, accounting for 10.89% of the total workforce[64]. - The company successfully developed a low-nitrogen burner with NOx emissions below 30mg/Nm³, achieving domestic leading technology[63][64]. - The company plans to enhance its research and development efforts, focusing on low-nitrogen burners and waste gas treatment technologies[90]. Market Position and Competition - The environmental protection industry in China is experiencing rapid growth, with the energy-saving combustion sector also maintaining a fast growth rate, supported by government policies and technological advancements[31]. - The company has developed into a large group with a focus on technology and performance, leveraging advantages in innovation, brand marketing, and management to maintain competitiveness in a challenging market[31]. - The company is facing increased competition in the environmental protection industry, with more potential competitors entering the market[92]. - The company aims to stabilize its market share among traditional key customers by optimizing product configuration and ensuring product quality[90]. Governance and Compliance - The company has committed to maintaining independent operations, including financial independence and management autonomy, as part of its governance structure[108]. - The company has established a commitment to maintain a fair and reasonable approach in any necessary related transactions[109]. - The independent directors have reviewed the non-standard audit report and support the board's measures to improve operational conditions and ensure sustainable development[117]. - The company has faced regulatory scrutiny, with its actual controller receiving a public reprimand from the Shenzhen Stock Exchange in December 2018[184]. - The company is committed to transparency in its operations, as shown by the disclosures regarding personnel changes and regulatory matters[184]. Human Resources and Management Changes - The company experienced significant changes in its board and management personnel, with multiple resignations due to personal reasons throughout 2018[176]. - The company appointed a new general manager, Ge Bing, on January 15, 2019, following the resignation of the previous general manager, Li Xiaoguang[178]. - The company has a diverse board of directors with members holding various positions in other organizations, indicating a broad network and expertise[179]. - The company has a total of 689 staff, with 244 in production, 58 in sales, 133 in technology, 35 in finance, and 219 in administration[189]. - The total remuneration for directors and senior management during the reporting period amounted to CNY 4.1732 million[188].

Financial Performance - The total operating revenue for the first quarter of 2019 was ¥77,447,027.08, representing a 0.43% increase compared to the same period last year[7]. - The net profit attributable to shareholders of the listed company reached ¥87,813,595.13, a significant increase of 686.96% year-on-year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥2,051,753.83, up 112.93% from the previous year[7]. - The basic earnings per share increased to ¥0.12, compared to a loss of ¥0.02 in the same period last year, marking a 700.00% improvement[7]. - The weighted average return on net assets was 11.77%, up 12.85 percentage points from -1.08% in the previous year[7]. - The net cash flow from operating activities improved by 69.46%, amounting to -¥8,293,234.86, compared to -¥27,158,967.79 in the previous year[7]. - The company reported a total comprehensive income attributable to the parent company was CNY 87,813,595.13, compared to a loss of CNY 14,960,673.78 in the previous period[49]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,955,679,992.76, a decrease of 4.93% from the end of the previous year[7]. - The net assets attributable to shareholders increased by 12.50% to ¥790,095,096.97 compared to the end of the previous year[7]. - As of March 31, 2019, the company's total assets amounted to CNY 1,955,679,992.76, a decrease from CNY 2,057,086,844.63 at the end of 2018[38]. - The company's total liabilities decreased to CNY 1,098,005,773.36 from CNY 1,340,431,837.91, representing a decline of approximately 18.1%[40]. - The company's current liabilities totaled CNY 848,847,546.35, down from CNY 1,070,360,187.11, a decrease of about 20.6%[40]. - The equity attributable to shareholders of the parent company was CNY 822,587,009.86, down from CNY 830,070,562.21[45]. Business Strategy and Market Position - The company focused on environmental protection as its core business, actively promoting project construction and market expansion[16]. - The company signed strategic cooperation agreements with China General Consulting Investment Co., Ltd. and Hebei Baoding Urban-Rural Construction Group to enhance its development strategy in the Xiong'an New Area[17]. - The company won the bid for an integrated environmental management project in Xiong'an New Area, obtaining the franchise rights for the project[17]. - The company plans to focus its business development strategy on the environmental management needs of the Xiong'an New Area, aligning with national environmental protection strategies[17]. - The company is facing increased competition in the environmental protection industry, with more potential competitors entering the market[21]. Subsidiaries and Structural Changes - The company disposed of subsidiaries with low net asset returns, optimizing its equity structure[16]. - The company has completed the sale of its wholly-owned subsidiary, Wuhan Renkong Technology Thermal Energy Engineering Co., Ltd., and its controlling subsidiary, Blue Sky Environmental Equipment Engineering Co., Ltd.[27]. Cash Flow and Financial Management - The company's cash and cash equivalents decreased to CNY 69,352,304.28 from CNY 98,701,097.68, reflecting a decline of approximately 29.7%[38]. - Accounts receivable decreased to CNY 417,055,635.57 from CNY 552,453,217.20, indicating a reduction of about 24.5%[38]. - The cash flow from operating activities showed a net outflow of CNY 8,293,234.86, compared to a net outflow of CNY 27,158,967.79 in the previous period[55]. - The net cash flow from financing activities was a negative CNY 12,843,161.44, compared to a negative CNY 14,420,560.45 in the previous period[56]. - The company incurred financial expenses of CNY 1,363,073.99, which included interest expenses of CNY 1,353,903.06[49]. Regulatory and Compliance Issues - The company is under regulatory scrutiny for a past incident involving a CNY 3 million external guarantee that was not disclosed in the 2017 annual report[31]. - The company plans to continue monitoring and ensuring compliance with repayment obligations related to non-operating fund occupations[34]. - The first quarter report was not audited, indicating potential risks in financial reporting accuracy[62].

Financial Performance - The company's operating revenue for 2018 was ¥526,434,765, representing a decrease of 20.45% compared to ¥661,795,558 in 2017[15]. - The net profit attributable to shareholders was -¥475,698,175, a significant decline of 4,709.08% from ¥37,459,960.4 in the previous year[15]. - The net profit after deducting non-recurring gains and losses was -¥148,701,121, down 80.07% from -¥55,441,013 in 2017[15]. - The cash flow from operating activities was -¥33,965,553, a decrease of 66.53% compared to -¥101,481,954 in 2017[15]. - The total assets at the end of 2018 were ¥2,057,086,844, a decrease of 32.03% from ¥3,286,745,640 at the end of 2017[15]. - The net assets attributable to shareholders decreased by 40.60% to ¥702,281,501 from ¥1,182,255,760 in 2017[15]. - The basic earnings per share for 2018 was -¥0.6674, a decline of 4,702.76% from ¥0.05 in the previous year[15]. - The weighted average return on equity was -50.37%, down from 2.72% in 2017[15]. - The total revenue for the reporting period was CNY 526.43 million, a decrease of 20.45% compared to the previous year[52]. - Operating costs amounted to CNY 452.34 million, down 13.65% year-on-year[57]. - The net profit attributable to the parent company was a loss of CNY 47.57 million, a decrease of 4,709.08% compared to the previous year[52]. Operational Strategy - The company aims to develop hydrogen energy as part of its strategy to reduce reliance on traditional energy sources and enhance environmental protection[26]. - The strategic focus will be on environmental governance needs in the Xiong'an New Area, leveraging traditional business advantages and emerging energy research[26]. - The company has diversified its operations to include energy-saving combustion, smoke governance, and water environment management[27]. - The company plans to expand its environmental services across more cities in China and along the "Belt and Road" initiative[26]. - The company operates in the energy-saving and environmental protection sector, utilizing EP and EPC business models for comprehensive project management[33]. - The environmental protection industry in China is experiencing rapid growth, with the energy-saving combustion sector also maintaining a fast growth rate[34]. - The company aims to transition from being a supplier of energy-saving and environmental combustion control equipment to a renewable energy operator, enhancing profitability and competitiveness[81]. Research and Development - R&D expenses rose by 56.87% to ¥31,513,943.74 in 2018, reflecting increased investment in research and development[64]. - The number of R&D personnel increased to 75 in 2018, accounting for 10.89% of total employees, up from 9.30% in 2017[66]. - R&D investment as a percentage of operating revenue increased to 5.99% in 2018 from 3.74% in 2017[66]. - The company has received multiple national awards for its technological innovations, including two second-class National Science and Technology Progress Awards and two National Invention Awards[38]. - The company holds 152 valid patents, including 65 held by the listed company and 87 by subsidiaries, demonstrating its strong focus on innovation[41]. Management and Governance - The company has committed to maintaining independent operations, including financial independence and management autonomy, as part of its corporate governance[111]. - The company has established a comprehensive accounts receivable management system to improve turnover rates amid growing receivables from expanding business operations[100]. - The company emphasizes cost management and budget control to enhance profitability through various measures including technological innovation and procurement savings[93]. - The company has committed to fair and reasonable related party transactions, adhering to market rules and regulations[112]. - The company has implemented new accounting standards for financial reporting starting from 2018, as mandated by the Ministry of Finance[130]. Market Presence and Expansion - The company is focusing on new markets such as VOCs and large torches to seek new growth points amid a shrinking traditional market[93]. - The company is actively pursuing the recovery of debts from Xinjiang Jun Chuang, which remains unresolved as of the report date[121]. - The company has signed strategic cooperation agreements with various organizations to accelerate its development strategy in the Xiong'an New Area, focusing on integrated environmental solutions[90]. - The company is targeting a 100% harmless treatment rate for urban household waste in major cities by the end of 2020, as part of national waste management goals[87]. - The company is committed to expanding its business in the emerging energy sector, particularly in hydrogen energy, to leverage future growth opportunities[88]. Risks and Challenges - The company has acknowledged the existence of various risks in its operations, which are detailed in the report[4]. - The company faces risks from increased competition in the environmental protection industry due to the entry of state-owned enterprises and private capital[95]. - The company acknowledges risks related to rising production costs due to increasing prices of materials and labor in the environmental protection sector[99]. - The company reported a litigation case involving a claim of 166.7 million yuan related to a share transfer dispute, which has been settled[134]. - The company is currently involved in a litigation case with a claim of 73.56 million yuan regarding ecological bill payment rights, which is still in progress[134]. Shareholder and Dividend Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company’s board of directors agreed not to distribute any cash dividends or stock bonuses for the 2018 fiscal year due to the negative net profit[107]. - The company reported a cumulative undistributed profit of over 30% of the average distributable profit for the last three years, with a minimum cash distribution of 10% of the current year's distributable profit[113]. - The company has not proposed any cash dividend distribution plan for the reporting period despite having positive distributable profits[110]. - The cash dividend total for 2017 and 2016 was 4,276,800.00 yuan and 2,138,400.00 yuan, respectively, with no dividends in 2018[110]. Employee and Management Changes - The company experienced a management turnover with multiple executives resigning, including the General Manager and several Vice Presidents, due to personal reasons[181]. - The company appointed a new General Manager, Ge Bing, on January 15, 2019, following the resignation of the previous General Manager, Li Xiaoguang[182]. - The company has established a remuneration assessment system based on performance evaluations, with a 1:1 ratio of base salary to performance salary[191]. - The total remuneration for directors and senior management during the reporting period amounted to 417.32 million yuan[193]. - The company has a total of 689 employees who received salaries during the reporting period[193].

Financial Performance - The company's operating revenue for 2017 was ¥661,795,558.70, a decrease of 13.48% compared to ¥764,866,897.97 in 2016[18]. - The net profit attributable to shareholders in 2017 was ¥10,320,897.45, a significant turnaround from a loss of ¥291,725,450.65 in 2016, representing a 103.54% increase[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥82,580,076.13, improving by 73.10% from a loss of ¥306,946,795.64 in 2016[18]. - The net cash flow from operating activities was -¥101,481,954.54, a decline of 141.74% compared to ¥243,141,240.61 in 2016[18]. - The total assets at the end of 2017 amounted to ¥3,026,344,546.67, an increase of 7.39% from ¥2,817,983,196.30 at the end of 2016[18]. - The net assets attributable to shareholders at the end of 2017 were ¥1,182,255,767.94, a slight increase of 0.73% from ¥1,173,664,321.02 at the end of 2016[18]. - The basic earnings per share for 2017 were ¥0.01, recovering from a loss of ¥0.41 in 2016, marking a 102.44% improvement[18]. - The weighted average return on net assets was 0.88% in 2017, a significant recovery from -22.33% in 2016, reflecting a 23.21% increase[18]. - The company's total revenue for the reporting period was 661.80 million CNY, a decrease of 13.48% compared to the previous year[48]. - Operating costs amounted to 523.83 million CNY, down 27.26% year-on-year[48]. - Selling expenses were 30.97 million CNY, a decline of 14.58% from the previous year[48]. - Financial expenses totaled 19.53 million CNY, decreasing by 5.57% year-on-year[48]. - Management expenses increased slightly to 127.22 million CNY, up 0.15% compared to the previous year[48]. Operational Highlights - In Q1 2023, the company reported operating revenue of approximately ¥204.85 million, while in Q2 and Q3, revenues decreased to ¥138.34 million and ¥119.96 million respectively, before rebounding to ¥198.64 million in Q4[20]. - The net profit attributable to shareholders was ¥26.29 million in Q1, but the company faced losses in Q2 and Q3, with net profits of -¥0.99 million and -¥15.93 million respectively, ending the year with a small profit of ¥0.95 million in Q4[20]. - The net cash flow from operating activities was negative in Q1 at -¥109.68 million, turned positive in Q2 at ¥81.07 million, but fell back to negative at -¥78.53 million in Q4[20]. - The company has been focusing on technological innovation, developing products such as ultra-low nitrogen burners and waste gas treatment technologies, which are crucial for maintaining competitive advantage[29]. - The company is actively expanding into hazardous waste treatment and solid waste processing, alongside developing value-added services in wastewater and waste gas treatment[29]. - The company holds a leading position in the energy-saving combustion industry, with the largest combustion laboratory in Asia, and significant market shares in various combustion systems[30]. - The company transferred 51% of its stake in Wuhai Lanyi Environmental Power Co., Ltd. and 45% of its stake in Dingzhou Ruichuan Solid Waste Treatment Co., Ltd. to Jiying Environmental Protection during the reporting period[32]. Research and Development - The company holds 72 valid patents, including 32 invention patents and 2 foreign patents[37]. - The company has established two national-level postdoctoral research stations and two academician workstations, enhancing its R&D capabilities[34]. - The company initiated five new R&D projects and continued six existing projects in water environment governance, focusing on wastewater reuse and zero discharge technologies[73]. - The company achieved a patent for a water purification device during the reporting period and has several new projects in development, including high-efficiency reverse osmosis systems[74]. - The company successfully developed a new high-efficiency low-nitrogen coal powder burner, achieving NOx emissions below 200 mg/Nm³ and CO emissions below 100 mg/Nm³, reaching a leading level in the industry[76]. - The company initiated market promotion for a high-efficiency oil burner for waste incineration, which has passed prototype testing and type testing[76]. - The company is currently conducting system design for a new low-nitrogen combustion system based on a new type of regenerative gas low-nitrogen burner[77]. Market Strategy and Expansion - The company aims to integrate environmental market resources and become a comprehensive environmental governance platform[39]. - The company signed a strategic cooperation agreement with Henan Water Investment Group for a project with a total investment of approximately CNY 500 million[61]. - The company has entered into a strategic cooperation agreement for water resource projects in Henan Province, with an estimated investment of approximately 20 billion RMB over a 30-year period[63]. - The company’s subsidiary won a bid for an EPC project with a contract value of 57.98 million RMB for the transformation of a thermal power plant, with phase one completed and phase two ongoing[63]. - The company is actively expanding its market presence in the renewable energy sector, particularly in waste-to-energy projects[105]. - The company’s investment in the Zhucheng waste-to-energy project is part of its strategy to transition from a supplier of energy-saving equipment to a renewable energy operator[105]. - The company is focusing on expanding its market presence and enhancing operational efficiency as part of its strategic initiatives[199]. Risk Management and Compliance - The company has outlined potential risks in its operations, which are detailed in the report[4]. - The company emphasizes safety and quality management, implementing multiple safety production regulations and conducting employee training to enhance safety awareness[29]. - The company faces risks related to rising production costs due to increasing prices of materials and labor in the environmental protection sector[119]. - The board acknowledges the non-standard audit report, emphasizing the need for investors to be aware of potential investment risks related to significant uncertainties in equity transfer matters[144]. - The company has committed to repay part of the non-operating fund occupation by April 30, 2018, with the remainder to be settled by June 30, 2018[143]. - The company is actively taking measures to ensure stable and healthy development, aiming to protect the interests of all shareholders and investors[144]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of ¥0.06 per 10 shares, based on a total of 712,800,000 shares[6]. - The total distributable profit for the year 2017 was reported at 37,459,960.48 CNY[127]. - The cash dividend for 2017 accounted for 41.44% of the net profit attributable to the company's ordinary shareholders[131]. - The company has maintained a consistent cash dividend policy, distributing at least 10% of the annual distributable profit[126]. - The company’s cash dividend distribution plan aligns with its articles of association and dividend management regulations[127]. - The controlling shareholder has committed to increase their stake in the company with a minimum investment of 100 million yuan and a maximum of 1 billion yuan[140]. Corporate Governance - The board of directors is responsible for proposing the profit distribution plan, which is then submitted for shareholder approval[126]. - Independent directors are required to provide clear opinions on the cash dividend plan, ensuring compliance with regulations[126]. - The company ensures independent operations and management, avoiding any competition with controlled entities[134]. - The company commits to not engaging in any business that competes with the listed company, directly or indirectly, to protect shareholder interests[135]. - The company has a continuous commitment to avoid related party transactions that could harm the listed company or its shareholders[136]. - The company has not engaged in any significant related party transactions during the reporting period[159]. Miscellaneous - The company did not experience any major litigation or arbitration matters during the reporting period[154]. - The company has not reported any new significant projects or expansions during the reporting period[141]. - The company’s financial performance remains under scrutiny due to the uncertainties highlighted in the audit report[146]. - The company has not disclosed any new product or technology developments in the recent reporting period[141].

Financial Performance - Total operating revenue for the first quarter was ¥77,117,489.08, a decrease of 62.35% compared to ¥204,850,121.33 in the same period last year[6] - Net profit attributable to shareholders was -¥14,960,673.78, representing a decline of 156.90% from ¥26,291,171.21 year-on-year[6] - Net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 714.92%, amounting to -¥15,862,109.12 compared to ¥2,579,528.89 in the previous year[6] - Basic earnings per share fell by 150% to -¥0.02 from ¥0.04 year-on-year[6] - The company reported a significant increase in operating expenses, which contributed to the decline in net profit[14] - The decline in revenue was primarily attributed to the slowdown in new construction and renovation projects for large power plants and reduced business in flue gas emission control[14] - The company reported a significant reduction in asset disposal income compared to the previous year, which had a larger impact on overall revenue[15] - The company reported a total profit of CNY -21,632,064.17 for Q1 2018, down from CNY 38,876,153.39 in Q1 2017[45] - The net profit for Q1 2018 was a loss of CNY 20,734,996.33, compared to a profit of CNY 31,153,871.00 in Q1 2017, indicating a significant decline[46] Cash Flow and Assets - Net cash flow from operating activities improved by 75.24%, reaching -¥27,158,967.79, compared to -¥109,675,303.25 in the same period last year[6] - The company's cash and cash equivalents decreased from ¥148,358,236.92 at the beginning of the period to ¥121,186,181.52 by the end of the period, representing a decline of approximately 18.3%[36] - Accounts receivable decreased from ¥718,662,533.67 to ¥651,637,230.52, a reduction of about 9.3%[36] - Inventory levels dropped from ¥296,293,176.73 to ¥246,000,077.22, indicating a decrease of approximately 17%[36] - The total current assets decreased from ¥1,809,673,632.44 to ¥1,564,121,975.29, reflecting a decline of around 13.6%[36] - The company's total assets were CNY 3,071,025,948.33, down from CNY 3,286,745,646.37[39] - The ending balance of cash and cash equivalents was 38,532,675.73 CNY, down from 131,658,837.50 CNY in the previous period, reflecting a decrease of approximately 70%[53] Shareholder and Governance Commitments - The company has committed to distributing at least 10% of the distributable profits in cash dividends each year, contingent on achieving profitability[28] - The planned increase in shareholding by major shareholders is set between ¥100 million and ¥1 billion, with a lower limit of ¥10 million[28] - The company is committed to maintaining independence in its operations, financial management, and governance structure[20] - The company has committed to avoiding any direct or indirect competition with its listed business, ensuring no conflicts arise from its operations[22] - The company guarantees that it will not provide proprietary technology or customer information to competitors of the listed company[26] - The company has established a commitment to conduct related transactions in compliance with market rules and to ensure fairness and transparency[24] - The company will adhere to legal obligations regarding information disclosure in related transactions[24] Market and Operational Challenges - The company faced intensified competition in the environmental protection industry due to increased market demand and supportive national policies[8] - The company is facing risks and operational difficulties due to environmental policies and overall business strategy[18] - The company plans to focus on securing orders in the future to improve performance despite the current challenges[17] - There are no major changes or adjustments to the company's products or services reported during the period[19] - The company has no significant changes in core technology teams or major R&D projects during the reporting period[17] Financial Liabilities and Restructuring - The non-operating fund occupation by controlling shareholders amounted to ¥7,786.08 million, which is 5.75% of the latest audited net assets[32] - The company has been actively communicating with its major shareholders regarding the repayment of non-operating fund occupations[32] - The board of directors has approved a debt restructuring plan related to the controlling shareholder's debts[32]

徐州科融环境资源股份有限公司 2018 年第三季度报告全文 徐州科融环境资源股份有限公司 2018 年第三季度报告 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人王伟、主管会计工作负责人毛军亮及会计机构负责人(会计主管 人员)张光谊声明：保证季度报告中财务报表的真实、准确、完整。 2 徐州科融环境资源股份有限公司 2018 年第三季度报告全文 第二节 公司基本情况 2018-147 2018 年 10 月 1 徐州科融环境资源股份有限公司 2018 年第三季度报告全文 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 2,588,938,606.09 | 3,286,745,646.37 | | -21.23% | | 归属于上市公司股东的 ...

Financial Performance - Total operating revenue for the first quarter was ¥77,117,489.08, a decrease of 62.35% compared to ¥204,850,121.33 in the same period last year[6] - Net profit attributable to shareholders was -¥14,960,673.78, representing a decline of 156.90% from ¥26,291,171.21 year-on-year[6] - Net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 714.92%, amounting to -¥15,862,109.12 compared to ¥2,579,528.89 in the previous year[6] - Basic earnings per share dropped by 150.00% to -¥0.02 from ¥0.04 year-on-year[6] - The company reported a significant increase in operating expenses, which contributed to the decline in net profit[14] - The decline in revenue was primarily attributed to the slowdown in new construction and renovation projects for large power plants, as well as reduced business in flue gas emission control[14] - The company reported a significant reduction in asset disposal income compared to the previous year, which had a larger impact on overall revenue[15] - The company reported a decrease in accounts payable from CNY 472,588,509.26 to CNY 372,650,082.82, a reduction of 21.14%[37] - The net profit for Q1 2018 was a loss of CNY 20,734,996.33, compared to a profit of CNY 31,153,871.00 in Q1 2017, indicating a significant downturn in profitability[45] - The total profit for Q1 2018 was reported at a loss of CNY 21,632,064.17, contrasting with a profit of CNY 38,876,153.39 in the previous year, marking a decline of over 155%[44] Cash Flow and Liquidity - Net cash flow from operating activities improved by 75.24%, reaching -¥27,158,967.79, compared to -¥109,675,303.25 in the same period last year[6] - The company's cash and cash equivalents decreased from CNY 148.36 million at the beginning of the period to CNY 121.19 million at the end, representing a decline of approximately 18.3%[35] - Total current assets decreased from CNY 1.81 billion to CNY 1.56 billion, a decrease of about 13.9%[35] - The cash flow from investment activities showed a net inflow of 26,217,845.00 CNY, a recovery from -5,158,759.54 CNY in the previous period, suggesting improved investment management[55] - The total cash and cash equivalents at the end of the period were 38,532,675.73 CNY, down from 131,658,837.50 CNY in the previous period, indicating a significant decrease in liquidity[52] - The cash flow from financing activities included 20,000,000.00 CNY from borrowings, consistent with the previous period, reflecting stable financing strategies[52] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,071,025,948.33, a decrease of 6.56% from ¥3,286,745,646.37 at the end of the previous year[6] - Total liabilities decreased to CNY 1,584,153,546.56 from CNY 1,779,138,248.27, representing a reduction of 10.96%[39] - The total equity attributable to shareholders of the parent company was CNY 1,381,429,590.95, down from CNY 1,396,390,264.73, a decline of 1.07%[38] Business Strategy and Market Conditions - The company faced intensified competition in the environmental protection industry due to increased market demand and supportive national policies[8] - The company is facing challenges due to environmental policies and its overall business strategy, impacting revenue generation[17] - The company plans to focus on securing orders in the upcoming period to improve performance[17] - The company aims to enhance its operational efficiency and reduce costs internally while expanding its external business[17] Shareholder and Corporate Governance - The company has not engaged in any repurchase transactions among the top ten shareholders during the reporting period[11] - The company is committed to maintaining its independence and integrity in financial management and operations[20] - The company has committed to avoiding any direct or indirect competition with its listed business, ensuring no substantial competition arises from its controlled entities[22] - The company guarantees that it will not engage in any business activities that could harm the interests of the listed company or its shareholders[23] - The company has pledged to stop any competing business activities if they arise, or to integrate them into the listed company's operations[24] - The company will not transfer any competing business to related parties and will ensure compliance with market rules during any necessary related transactions[25] - The company has a commitment to not directly or indirectly transfer shares of the listed company for 12 months following the acquisition of shares from a controlling entity[26] Future Outlook and Commitments - The company has committed to distributing at least 10% of its distributable profits as cash dividends, with a cumulative distribution not less than 30% of the average distributable profits over the last three years[28] - The company plans to increase its shareholding by a minimum of CNY 100 million and a maximum of CNY 1 billion within 12 months[28] - The company is actively pursuing debt restructuring and related transactions with its controlling shareholder to address fund occupation issues[31] - The company has not forecasted any significant changes in net profit compared to the same period last year[29]

Financial Performance - Total operating revenue for the first half of 2018 was ¥242,579,965.08, a decrease of 29.32% compared to ¥343,190,392.43 in the same period last year[19]. - Net profit attributable to shareholders was -¥39,186,006.25, representing a decline of 254.85% from a profit of ¥25,305,387.08 in the previous year[19]. - Basic earnings per share decreased to -¥0.055, down 252.78% from ¥0.036 in the previous year[19]. - The company reported a significant increase in non-recurring losses, with a net profit after deducting non-recurring gains and losses of -¥48,023,276.83, compared to a profit of ¥468,389.70 in the previous year, a decrease of 10,352.85%[19]. - The company's total revenue for the reporting period was 242.58 million yuan, a decrease of 29.32% compared to the same period last year[40]. - The net profit attributable to the parent company was -39.19 million yuan, a decrease of 254.85% compared to the previous year[40]. - The company expects a cumulative net profit loss of between -67 million to -62 million yuan for the first three quarters of 2018, representing a decline of 814.89% compared to the same period last year[66]. - The basic earnings per share are projected to be -0.094 yuan, a decrease of 823.08% year-on-year[66]. Cash Flow and Assets - The net cash flow from operating activities improved to -¥18,274,195.70, a 36.11% increase compared to -¥28,603,125.76 in the same period last year[19]. - The net cash flow from investing activities was ¥53,557,552.15, a significant increase of 271.33%, resulting from the recovery of equity investment funds[45]. - The net increase in cash and cash equivalents was -¥25,742,777.16, an improvement of 68.74% compared to the previous year, attributed to the release of deposits[45]. - The company's total assets included cash and cash equivalents of ¥104,928,772.4, which represented 3.41% of total assets, down from 4.78% the previous year[49]. - Accounts receivable stood at ¥710,584,096.8, accounting for 23.10% of total assets, a decrease of 2.52% from the previous year[49]. - The company reported a significant increase in long-term equity investments, which rose to ¥421,329,283.5, representing 13.69% of total assets, up by 11.96% year-over-year[49]. Operational Strategy and Market Position - The company maintains a leading position in the energy-saving combustion industry, with significant market shares in plasma, low-nitrogen combustion systems, and hazardous waste incineration systems[29]. - The company is actively expanding into hazardous waste treatment and solid waste processing, aiming to diversify its operations in the environmental protection sector[28]. - The company is focusing on expanding its environmental business through strategic investments and partnerships[64]. - The company aims to transition from being a supplier of energy-saving and environmental protection equipment to a renewable energy industry operator, enhancing its profitability and competitiveness[63]. - The company is actively integrating resources within the environmental protection industry to enhance competitive strength[38]. Research and Development - Research and development expenses increased by 13.65% to ¥13,364,858.38, indicating a focus on innovation despite overall revenue decline[45]. - The company has a total of 76 valid patents, including 32 invention patents, reflecting its commitment to innovation and technology development[33]. - The company has established Asia's largest combustion laboratory, enhancing its competitive edge in technology innovation[29]. Governance and Compliance - The company has established a comprehensive accounts receivable management system to address the risk of rising accounts receivable, which increased by 73.56 million yuan due to unpaid bills[69]. - The financial department operates independently with standardized accounting systems and independent financial records[76]. - The company guarantees that its management personnel are independent and do not hold positions in other controlled entities, ensuring a clear separation of duties[75]. - The company has committed to avoiding any direct or indirect competition with its controlled entities, ensuring no overlap in business operations[78]. - The company has established independent banking accounts, ensuring no shared financial resources with controlled entities[76]. Environmental Compliance - The company has established pollution control facilities, including SNCR denitrification systems and semi-dry desulfurization systems, which are operational and meet the emission standards set by GB18485-2014[104]. - The total emissions of sulfur dioxide are reported at 144.88 tons per year, while nitrogen oxides emissions are at 31.397 tons per year[104]. - The company has implemented a self-monitoring plan for wastewater and air emissions, adhering to national and industry standards[107]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 58,102[119]. - The largest shareholder, Xuzhou Fengli Technology Development Investment Co., Ltd., holds 29.50% of the shares, amounting to 210,280,000 shares[119]. - The total number of shares is 712,800,000, with 99.99% being unrestricted shares[117].

Financial Performance - Operating revenue for the reporting period was CNY 119,961,918.03, a decrease of 4.81% year-on-year, while year-to-date revenue was CNY 463,152,310.46, down 20.91% compared to the same period last year[7] - Net profit attributable to shareholders was a loss of CNY 15,933,294.25, representing a decrease of 62.22% year-on-year, while year-to-date net profit was CNY 9,372,092.83, an increase of 131.23%[7] - Basic earnings per share for the reporting period was -CNY 0.022, a decrease of 63.33% year-on-year, while year-to-date basic earnings per share was CNY 0.013, an increase of 130.95%[7] - The weighted average return on net assets was -1.17%, down from 7.34% in the previous year[7] - The net loss for the period was CNY 20,049,445.82, compared to a net loss of CNY 48,834,954.65 in the previous period[39] - The net profit attributable to the parent company was CNY -15,933,294.25, an improvement from CNY -42,178,657.88 in the previous period[39] - Basic and diluted earnings per share were both CNY -0.022, compared to CNY -0.06 in the previous period[39] Cash Flow - The company reported a net cash flow from operating activities of -CNY 22,953,361.52, a decrease of 111.37% year-on-year[7] - Cash received from the sale of goods and services decreased by 41.18% year-on-year, primarily due to a decline in revenue from the previous year[17] - Cash paid for purchasing goods and services decreased by 38.53% year-on-year, reflecting lower costs and payment cycles[17] - Cash paid for employee compensation increased by 68.35% year-on-year, due to higher salary levels and increased personnel[18] - Cash flow from operating activities showed a net outflow of -¥22,953,361.52, a decline from a net inflow of ¥201,897,980.25 in the previous year[51] - Total cash inflow from operating activities was ¥570,860,011.25, down from ¥969,587,853.22 year-over-year[51] - Cash flow from investing activities resulted in a net outflow of -¥63,497,534.02, compared to a net inflow of ¥60,040,801.88 in the same period last year[53] - Cash flow from financing activities generated a net inflow of ¥60,254,630.34, a recovery from a net outflow of -¥204,998,793.13 in the previous year[53] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 3,068,052,732.90, an increase of 0.26% compared to the end of the previous year[7] - The total current assets decreased from CNY 1,850,078,550.95 to CNY 1,738,072,152.29, a decline of approximately 6.04%[28] - Total liabilities increased slightly from CNY 1,486,386,817.65 to CNY 1,495,094,569.46, an increase of about 0.45%[30] - The company's total assets rose marginally from CNY 3,060,100,025.08 to CNY 3,068,052,732.90, an increase of approximately 0.26%[31] - Non-current assets increased from CNY 1,210,021,474.13 to CNY 1,329,980,580.61, reflecting a growth of about 9.93%[29] - Short-term borrowings increased significantly from CNY 97,000,000.00 to CNY 185,000,000.00, an increase of approximately 90.72%[30] - The total current liabilities increased from CNY 1,134,390,961.52 to CNY 1,155,801,079.28, an increase of about 1.89%[30] Shareholder Information - The total number of shareholders at the end of the reporting period was 60,525[11] - The largest shareholder, Xuzhou Fengli Technology Development Investment Co., Ltd., held 29.50% of the shares, totaling 210,280,000 shares[11] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[12] Investment and Expenses - Non-operating income and expenses included a gain from the disposal of non-current assets amounting to CNY 27,622,370.08[8] - Tax expenses decreased by 37.92% year-on-year, mainly due to the exclusion of business tax after the tax reform[16] - Financial expenses decreased by 55.66% year-on-year, attributed to interest income from capital occupation and repayment of short-term loans[16] - Investment income increased by 6700.57% year-on-year, driven by the utilization of idle assets and funds for financial product investments[16] - The company's management expenses for the year-to-date period were ¥77,715,523.82, slightly up from ¥77,516,004.96[46] Quarterly Performance - The company's operating revenue for the third quarter was ¥50,756,291.77, an increase of 44.5% compared to ¥35,147,733.81 in the same period last year[41] - The net profit for the third quarter was a loss of ¥6,544,207.06, improving from a loss of ¥28,289,460.11 in the previous year, representing a reduction of 76.9%[41] - The total operating costs for the third quarter were ¥42,165,959.32, up from ¥32,220,998.63, indicating a rise of 30.9%[41] - The company reported a total profit of -¥7,504,187.37 for the third quarter, an improvement from -¥30,438,254.02 in the previous year[41] - The basic earnings per share for the third quarter was -¥0.01, compared to -¥0.04 in the same period last year, showing a 75% improvement[43]

Financial Performance - Total revenue for the reporting period was CNY 343,190,392.43, a decrease of 25.32% compared to CNY 459,553,007.96 in the same period last year[21]. - Net profit attributable to shareholders was CNY 25,305,387.08, representing an increase of 108.03% from CNY 12,164,259.56 year-on-year[21]. - Basic earnings per share rose to CNY 0.036, up 111.76% from CNY 0.017 in the previous year[21]. - The net cash flow from operating activities improved to CNY -28,603,125.76, a 50.10% increase compared to CNY -57,319,900.11 last year[21]. - Total assets at the end of the reporting period were CNY 3,000,669,242.11, a decrease of 1.94% from CNY 3,060,100,025.08 at the end of the previous year[21]. - The net assets attributable to shareholders increased to CNY 1,384,165,416.66, reflecting a growth of 1.73% from CNY 1,360,659,754.78[21]. - The company's total revenue for the reporting period was approximately 154.11 million CNY, with a significant increase in energy-saving and environmental protection project orders[51]. - The company reported a total profit of CNY 32,142,411.24, which is an increase of 12.9% compared to CNY 28,498,761.03 in the same period last year[134]. - Earnings per share (EPS) for the first half of 2017 was CNY 0.036, compared to CNY 0.017 in the previous year, reflecting a growth of 111.8%[135]. - The company achieved a gross profit margin of approximately 24.9% in the first half of 2017, compared to 27.6% in the same period of 2016[134]. Operational Challenges - The company reported a significant impact on its traditional energy-saving and flue gas treatment businesses due to the slowdown in the downstream power industry, particularly in thermal power, with a forecasted reduction in installed capacity during the "13th Five-Year Plan" period[4]. - From January to May 2017, the growth of thermal power installed capacity in most provinces has slowed down, with some provinces experiencing zero growth in new installations[4]. - The company faces risks related to accounts receivable, with a significant increase in accounts receivable due to project completions, necessitating enhanced credit management and collection efforts[5]. - The company is exploring PPP (Public-Private Partnership) projects in the environmental sector, which may present uncertainties and operational risks due to large investment amounts and long cooperation periods[6]. - The company anticipates a significant decline in new market demand for traditional energy-saving and flue gas treatment businesses due to a slowdown in the power industry[71]. Strategic Initiatives - The company plans to adjust its marketing strategies for traditional businesses and focus on technological research and product innovation to capture new market shares in energy-saving fields[5]. - The company is focusing on integrating third-party operations in the environmental protection sector, shifting from equipment construction to operational management[31]. - The company is actively involved in solid waste treatment projects, including waste-to-energy initiatives, which have received strong government support[30]. - The company has expanded its business into water environment governance through the acquisition of Beijing Innogreen Technology Co., Ltd. in March 2015[29]. - The company is focusing on expanding its market presence in various regions, including Beijing, Hangzhou, and Shandong, through strategic acquisitions[34]. Financial Management - The company plans to strengthen financial management and analyze the profitability of major investment projects to optimize resource utilization and improve asset turnover rates[43]. - The company has established a comprehensive management assessment mechanism to enhance performance and management levels across its subsidiaries[42]. - The company’s cash and cash equivalents decreased by 46.96% compared to the beginning of the period, primarily due to investments in financial products[33]. - The company's other current assets increased by 590.69% compared to the beginning of the period, mainly due to the use of idle funds to purchase financial products[33]. - The net cash flow from financing activities decreased by 114.94% to -22,493,947.91 CNY, primarily due to bank acceptance bills[47]. Shareholder Information - The company will not distribute cash dividends, issue bonus shares, or increase capital from reserves for the reporting period[7]. - The total number of shares remains at 712,800,000, with no changes in shareholding structure[106]. - The largest shareholder, Xuzhou Fengli Technology Development Investment Co., Ltd., holds 29.46% of the shares, totaling 210,000,000 shares[109]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[111]. - The company has not disclosed any significant contracts or related party transactions during the reporting period[98]. Environmental and Technological Development - The company has developed a complete set of ultra-low emission technology solutions for coal-fired flue gas, achieving emissions concentrations of less than 5 mg/m³ for dust, 35 mg/m³ for SO2, and 50 mg/m³ for NOx under 6% O2 conditions[40]. - The company holds 181 utility model patents, 33 invention patents, and 11 software copyrights, reflecting its commitment to innovation in energy-saving and environmental protection technologies[41]. - The company is involved in the development and sales of energy and environmental protection equipment, including waste incineration and energy recovery projects[67]. - The company has invested in multiple environmental technology projects and has a strong R&D capability supported by partnerships with leading universities[35]. - The company is actively engaged in technology development and consulting services related to energy and environmental projects[67]. Compliance and Governance - The half-year financial report has not been audited[81]. - There were no major equity sales during the reporting period[63]. - The company has not reported any significant changes in its accounting policies or estimates that would impact its financial reporting[163]. - The company has evaluated its ability to continue as a going concern for the next 12 months and found no significant doubts regarding its sustainability[162]. - The company has not reported any major environmental issues or been classified as a key pollutant unit by environmental authorities[101].