Financial Performance - The company's operating revenue for Q1 2021 was ¥25,245,077.40, representing a decrease of 44.15% compared to ¥45,202,080.98 in the same period last year[7] - The net profit attributable to shareholders was -¥9,452,427.31, an improvement of 58.72% from -¥22,895,987.56 year-on-year[7] - The basic earnings per share improved to -¥0.0133 from -¥0.0321, reflecting a 58.57% increase[7] - The total operating costs for Q1 2021 were CNY 41,739,836.69, down 43% from CNY 73,163,075.31 year-over-year[52] - Net loss attributable to shareholders for Q1 2021 was CNY 9,452,427.31, compared to a net loss of CNY 22,895,987.56 in Q1 2020, representing a 58.7% improvement[53] - The total comprehensive income for the first quarter was -¥9,452,427.31, compared to -¥22,895,987.56 in the previous year, indicating a significant improvement[54] Cash Flow and Assets - The net cash flow from operating activities decreased by 78.71% to ¥4,005,801.92 from ¥18,813,695.07 in the previous year[7] - The company's cash and cash equivalents decreased from ¥179,775,885.60 on December 31, 2020, to ¥34,649,128.28 on March 31, 2021, representing a decline of approximately 80.7%[41] - The cash flow from operating activities generated a net inflow of ¥4,005,801.92, down from ¥18,813,695.07 in the previous year[61] - The company reported a cash outflow from investing activities of ¥140,446,988.00, compared to ¥5,430,964.55 in the previous year, indicating increased investment activity[62] - The ending balance of cash and cash equivalents was CNY 1,086,309.59, up from CNY 667,585.78 in the previous period[66] Shareholder Information - The total number of shareholders at the end of the reporting period was 57,686[11] - The largest shareholder, Xuzhou Fengli Technology Development Co., Ltd., held 21.12% of the shares, amounting to 150,514,615 shares[11] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[13] Investment and Growth Initiatives - The company established a joint venture with Beijing Huayang Wind Technology Co., Ltd. for the construction and operation of centralized charging facilities for electric bicycles, with a registered capital of CNY 100,000,000.00[21] - The company plans to raise a total of CNY 150,000,000.00 for an environmental industry fund, with a total commitment of CNY 15,000,000.00 from the company[20] - The company aims to expand its market presence in the energy sector, particularly in low-nitrogen combustion equipment and waste treatment technologies, in response to increasing environmental regulations[22] - The company signed an EPC+O contract worth CNY 12,500,000.00 for a green mining cement material production line project, with the project construction progressing as planned[25] Risks and Challenges - The company faces risks related to increased competition in the environmental protection industry due to the entry of state-owned enterprises and private capital[27] - The company is exposed to risks from rising production costs, including labor and material prices, which could impact profitability[30] - The company acknowledges potential project investment risks influenced by national policies and macroeconomic conditions[29] Research and Development - The company reported a significant reduction in research and development expenses to CNY 1,255,402.60 from CNY 3,550,867.85, a decrease of 64.6%[52] - Research and development expenses for the quarter were ¥578,168.76, a decrease of 8.2% from ¥629,994.06 in the previous year[56] - The company is focusing on integrating advanced sewage treatment technologies and enhancing its research capabilities through collaboration with academic institutions[24] Asset Management - Total assets at the end of the reporting period were ¥1,172,501,024.93, a decrease of 1.44% from ¥1,189,573,163.81 at the end of the previous year[7] - The net assets attributable to shareholders decreased by 1.42% to ¥655,923,120.94 from ¥665,375,548.25[7] - Accounts receivable decreased by 14.14% to CNY 172,783,959.80, attributed to the implementation of new revenue recognition standards[18] - Total liabilities decreased from ¥524,197,615.56 to ¥516,577,903.99, a reduction of approximately 1.3%[43]

Financial Performance - The company's operating revenue for 2020 was CNY 514,946,526, representing a slight increase of 0.30% compared to CNY 513,408,320 in 2019[17]. - Net profit attributable to shareholders for 2020 was CNY 12,991,452, marking an increase of 84.66% from CNY 7,035,498.48 in the previous year[17]. - The net profit excluding non-recurring gains and losses was CNY 7,231,353.81, a significant improvement of 107.73% compared to a loss of CNY 93,497,112 in 2019[17]. - Cash flow from operating activities increased by 126.87% to CNY 80,150,246.8, up from CNY 35,328,731.4 in 2019[17]. - Basic earnings per share rose to CNY 0.0182, an increase of 83.84% from CNY 0.0099 in 2019[17]. - The weighted average return on equity for 2020 was 1.93%, up from 1.06% in 2019[17]. - The company reported a total operating income of CNY 242,358,724 in Q4 2020, contributing to an annual total of CNY 514,946,524[20]. - The company reported total revenue of RMB 514.95 million for 2020, an increase of 0.30% year-on-year[50]. - The net profit attributable to the parent company was RMB 12.99 million, representing a significant growth of 84.66% compared to the previous year[50]. - The company reduced its operating costs by 5.02%, with total operating costs amounting to RMB 357.95 million[50]. Market and Strategic Focus - The company is focused on expanding its market presence and developing new technologies in environmental protection[5]. - Future outlook includes addressing potential risks as detailed in the report, emphasizing the importance of rational investment[5]. - The company is focusing on expanding its market presence in hazardous waste treatment and hydrogen energy sectors[32][33]. - The company’s strategic direction emphasizes becoming a comprehensive environmental service provider through technology and capital integration[27]. - The company aims to enhance its operational capabilities and optimize its equity structure for better financial health[84]. - The company plans to expand its market presence through strategic partnerships and potential acquisitions[84]. - The company is focusing on the development of new technologies and products in the environmental technology sector[87]. - The company is positioned to benefit from the government's push for a green low-carbon economy, which is expected to drive future growth[93]. Environmental Initiatives - The company engaged in various environmental services, including energy-saving combustion, wastewater treatment, and waste incineration power generation[27]. - The company has completed the construction of an economical hydrogen refueling station, pending government approval for operation[33]. - The company has developed a comprehensive incineration treatment process for waste gas and waste liquid, which has entered the engineering promotion stage after successful R&D[40]. - The gas ultra-low nitrogen combustion technology achieved normal NOx emissions of 15-30 mg/m³, significantly improving efficiency without external flue gas circulation[41]. - 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[155]. - The company emphasizes compliance with national environmental protection standards and aims for "lawful production and standard emissions"[156]. - The company is focusing on expanding its services in water pollution control and waste management, aligning with national green development policies[93]. Challenges and Risks - The company faced operational challenges due to the COVID-19 pandemic, affecting the procurement of raw materials and the transportation of equipment[44]. - The company is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws[120]. - The company received a non-standard audit report from Zhongzheng Tiantong Accounting Firm, reflecting the current situation of the company[125]. - The company received a qualified audit opinion from Zhongzheng Tiantong Accounting Firm, which reflects the current situation of the company[127]. - The company has been actively upgrading its environmental protection facilities to address aging equipment issues and enhance control over abnormal operating conditions[156]. Shareholder and Governance - The total number of shareholders at the end of the reporting period was 55,702, with an increase from 57,686 at the end of January[168]. - The largest shareholder, Xu Zhou Feng Li Technology Development Investment Co., Ltd., holds 21.12% of the shares, totaling 150,514,615 shares, a decrease of 58,450,000 shares during the reporting period[169]. - The company has a commitment to maintaining its governance and operational integrity through its board and management team[184]. - The company’s management team includes experienced professionals with backgrounds in finance and law, enhancing its governance structure[184]. - The company has not reported any changes in its actual controller or major shareholders during the reporting period[173]. Research and Development - The company holds 338 national invention patents and has established a strong R&D team, enhancing its technological innovation capabilities[37]. - Research and development (R&D) expenses decreased by 30.77% to ¥11,249,060.84 compared to the previous year[63]. - The number of R&D personnel decreased to 50, making up 15.15% of the total workforce[68]. - The company is actively engaged in research and development of new technologies related to environmental protection and energy efficiency[89]. - The company is involved in a key national R&D project focused on the combustion technology of high-alkali coal, with expected completion of ignition tests by April-May 2021[39]. Financial Management - The company is focused on cash flow management and reduced short-term debt pressure during the pandemic, ensuring healthy financial operations[47]. - The company aims to improve its financial performance through strategic equity transactions[83]. - The company has committed to ensuring the independence of its assets and management, with ongoing compliance with these commitments[114]. - The company guarantees that there are no direct or indirect competitive businesses with its controlling entities, ensuring no conflicts of interest[115]. - The company has established an independent financial department and accounting system to ensure financial independence[114]. Corporate Social Responsibility - The company donated RMB 3.6 million for COVID-19 prevention efforts, enhancing its corporate image and brand awareness[46]. - The company has not initiated any poverty alleviation programs during the reporting year and has no subsequent plans[152]. - The company respects and protects the rights of stakeholders, promoting a balanced interest among shareholders, employees, and society[200].

Financial Performance - The company's operating revenue for 2018 was ¥526,434,765, a decrease of 19.57% compared to ¥661,795,558 in 2017[17]. - The net profit attributable to shareholders was -¥516,565,468, representing a significant decline of 12,242.30% from a profit of ¥10,320,897.4 in 2017[17]. - The net profit excluding non-recurring gains and losses was -¥480,211,464, showing a decrease of 441.71% compared to -¥82,580,076 in 2017[17]. - The cash flow from operating activities was -¥33,965,553, a 66.53% improvement from -¥101,481,954 in 2017[17]. - The total assets at the end of 2018 were ¥2,021,217,521, a decrease of 33.21% from ¥3,026,344,541 in 2017[17]. - The net assets attributable to shareholders decreased by 44.06% to ¥661,248,774 from ¥1,182,255,761 in 2017[17]. - The basic earnings per share for 2018 was -¥0.7247, a decline of 12,178.33% from ¥0.0145 in 2017[17]. - The weighted average return on equity was -55.92%, down from 0.88% in 2017[17]. - The total operating revenue for the reporting period was CNY 526.43 million, a decrease of 19.57% compared to the same period last year[49]. - Operating costs amounted to CNY 454.68 million, down 13.18% year-on-year[55]. - The net profit attributable to the parent company was CNY -516.57 million, a significant decrease of 12242.30% compared to the previous year[49]. Strategic Focus and Development - The company plans to focus on hydrogen energy development, aiming to build a full industry chain related to hydrogen energy preparation and storage[28]. - The strategic focus will shift towards environmental governance needs in the Xiong'an New Area, with plans to expand services nationwide and along the "Belt and Road" initiative[28]. - The company operates in three core business segments: energy-saving combustion, flue gas governance, and water environment governance[29]. - The company emphasizes technology research and development, continuing to develop low-nitrogen combustion technologies and waste gas treatment solutions[31]. - The company aims to enhance operational efficiency through refined management and clear business positioning for subsidiaries, focusing on cost control and project management[45][46]. - The company is actively pursuing strategic layouts in the environmental protection industry to leverage synergies across its business segments[44]. - The company is committed to continuous technological innovation, with multiple awards for its research and development efforts in environmental technology[36]. - The company is positioned as a comprehensive environmental governance platform, integrating various services such as energy-saving combustion and waste treatment[41]. - The company aims to ensure project quality and timeliness through strategic partnerships, enhancing its operational capabilities in Xiong'an New Area[93]. Research and Development - The company increased its R&D expenses by 28.01% to CNY 31.65 million, reflecting a commitment to innovation[63]. - The company's R&D investment in 2018 amounted to ¥31,646,205.22, representing 6.01% of its operating revenue, an increase from 3.78% in 2017[66]. - The number of R&D personnel increased to 75 in 2018, accounting for 10.89% of the total workforce, up from 9.30% in 2017[66]. - The company plans to enhance its research and development capabilities, focusing on low-nitrogen combustion technologies and waste gas treatment solutions[92]. Subsidiaries and Market Presence - The company established four wholly-owned subsidiaries during the reporting period, expanding its operational footprint[60]. - The company is focusing on expanding its market presence through new subsidiaries and strategic initiatives in the renewable energy sector[81]. - The company’s total revenue from its subsidiaries was impacted by various operational challenges, with some subsidiaries reporting significant losses[78]. - The company established several new subsidiaries, including Xiong'an Kairong Intelligent Environmental Protection Technology Development Co., Ltd., which had a minor impact on overall performance[80]. Governance and Compliance - The company has acknowledged the need for accounting error corrections as mandated by the Jiangsu Securities Regulatory Bureau[17]. - The company has been recognized as a "National Intellectual Property Demonstration Enterprise" and has received various honors for its innovative products[38]. - The company has committed to maintaining independent operations and financial management, ensuring no misuse of resources[108]. - The company has not proposed any stock bonus plans for the last three years, focusing instead on maintaining financial stability[106]. - The company has faced public reprimands from the Shenzhen Stock Exchange for incomplete and untimely information disclosure[132]. - The company has been under investigation by the China Securities Regulatory Commission for information disclosure violations[132]. - The company reported related party transactions amounting to 11 million yuan, with actual transactions of 7.0194 million yuan during the reporting period[137]. Challenges and Risks - The company faces increased competition in the environmental protection industry, with more potential competitors entering the market through investments and acquisitions[94]. - The company is addressing risks related to rising production costs due to increasing prices of materials and labor in the environmental sector[97]. - The company has established a comprehensive accounts receivable management system to improve turnover rates and mitigate risks associated with growing accounts receivable[98]. - The company reported a non-operating fund occupation of 7,769.82 million CNY, which accounts for 12.21% of the latest audited net assets[112]. Management and Human Resources - The company experienced significant management turnover in 2018, with multiple executives resigning for personal reasons, including the CFO and several vice presidents[178]. - The company appointed a new general manager, Mr. Ge Bing, on January 15, 2019, following the resignation of Mr. Li Xiaoguang[176]. - The company has a structured compensation system for its directors and senior management, based on performance assessments and approved by the shareholders[188]. - The total compensation for the company's directors and senior management during the reporting period amounted to 417.32 million[191]. - The company has established a comprehensive training system to enhance employee skills and awareness, incorporating training plans into the overall budget and performance evaluation[193]. Future Outlook - The company aims to achieve a 100% harmless treatment rate for urban household waste in major cities by the end of 2020, as outlined in national policies[87]. - The company is committed to enhancing its competitive edge through technological innovation and capital operations, aiming for diversified development in the environmental sector[90]. - The company has set ambitious performance targets for the upcoming fiscal year, aiming for substantial growth[175].

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[15] - The net profit attributable to shareholders was ¥7,035,498.48, marking a significant recovery from a loss of ¥516,565,468.21 in the previous year, representing a 101.36% increase[15] - 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[15] - The total assets at the end of 2019 were ¥1,749,033,489.53, down 13.47% from ¥2,021,217,521.65 in 2018[15] - The net assets attributable to shareholders increased by 1.62% to ¥671,973,273.42 from ¥661,248,774.94 in 2018[15] - The basic earnings per share for 2019 were ¥0.0099, a recovery from a loss of ¥0.7247 per share in 2018, reflecting a 101.36% improvement[15] - The weighted average return on net assets was 1.06%, a significant recovery from -55.92% in the previous year[15] - The total operating revenue for the company in 2019 was CNY 513,408,320.75, a decrease of 2.47% compared to the previous year[49] - Operating costs amounted to CNY 376,879,113.68, which is a reduction of 17.11% year-on-year[52] - The net profit attributable to the parent company was CNY 1,012,660, an increase of 102.13% compared to the previous year[49] Cash Flow and Investments - The net cash flow from operating activities increased by 204.01% to ¥35,328,731.43 in 2019, compared to a negative cash flow of ¥33,965,553.83 in 2018[65] - The total cash inflow from operating activities decreased by 10.82% to ¥576,388,659.51 in 2019, while cash outflow decreased by 20.47% to ¥541,059,928.08[65] - The net cash flow from investment activities decreased by 81.73% to ¥29,728,804.11 in 2019, primarily due to the previous year's recovery of equity funds from several companies[66] - The company reported a significant increase in investment income of ¥96,649,150.17, accounting for 640.65% of total profit, primarily from the disposal of certain environmental assets[66] Business Operations and Strategy - The company aims to enhance its market position by focusing on environmental governance and expanding its core business areas, including waste incineration and sewage treatment[26] - The company acquired a 49% stake in Hebei Xiong'an Lizi Environmental Technology Co., which is expected to generate nearly ¥50 million in annual revenue once fully operational[27] - A hydrogen energy project is under development with a total planned investment of approximately ¥500 million, aimed at reducing reliance on traditional energy sources[28] - The company’s main business includes energy-saving combustion, sewage treatment, and waste incineration power generation, utilizing various advanced technologies[29] - The company operates under EP, EPC, and BOT business models, ensuring comprehensive management of engineering projects and long-term operational rights for waste incineration projects[31] - 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[43] - The company secured 57 new orders in the sewage treatment sector, with a total contract amount of approximately 260 million yuan[43] - The company achieved a total contract amount of approximately 290 million yuan from 586 new orders in the energy-saving combustion sector[43] - The company plans to enhance core competitiveness across various business areas to create an ecological industrial chain[44] Research and Development - The company has been recognized as a national high-tech enterprise and has received 10 patent authorizations in the reporting period, totaling 89 effective patents[38] - The company's R&D investment in 2019 amounted to ¥16,249,423.91, representing 3.17% of total revenue, a decrease from 6.01% in 2018[64] - The company completed the development of several models of fully automatic low-nitrogen integrated burners, including a 3.3MW model that has obtained type testing certification[62] - The company has invested in research and development for new technologies in the fields of bioenergy and environmental protection, aiming to strengthen its market position[81] Governance and Compliance - The company has established an independent financial department and accounting system to ensure financial decision-making autonomy[101] - The company has a governance structure in place to maintain independence from its controlling entities[101] - The company has committed to maintaining a transparent relationship with shareholders, ensuring that any related party transactions are conducted fairly and in compliance with regulations[102] - The company has established a comprehensive management system to ensure independent operations and avoid conflicts of interest with controlling shareholders[102] - The company has implemented measures to ensure the accuracy of financial disclosures and compliance with regulatory requirements[78] - The company received an administrative penalty from the China Securities Regulatory Commission for false information in its annual report and was ordered to rectify within 60 working days[121] - The company completed the required rectification work on time as per the regulatory requirements[122] Shareholder Relations - The company plans to distribute cash dividends of no less than 10% of the current year's distributable profit, ensuring shareholder returns[103] - The total cash dividend for 2019 was 0.00, with a net profit attributable to shareholders of listed companies amounting to 10,126,586.6, resulting in a cash dividend ratio of 0.00%[100] - The company emphasized the importance of investor returns, stating that the decision not to distribute profits aligns with relevant laws and regulations[98] - The company aims to provide stable and long-term returns to investors through its strategic decisions[98] - The company has a commitment to avoid any direct or indirect competition with its controlling shareholders and their affiliates, ensuring independent business operations[102] Legal and Regulatory Issues - The company faced a lawsuit involving a payment dispute amounting to 7,356.35 million yuan, which has been settled but remains unexecuted[119] - Another lawsuit related to a construction dispute with an amount of 7,316.4 million yuan is currently under trial[119] - The company’s major shareholders and actual controllers have received administrative penalties and market bans due to violations[122] 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[172] - The company has a diverse professional composition, including 195 production personnel, 53 sales personnel, 136 technical personnel, 32 financial personnel, and 225 administrative personnel[172] - The company conducted a total of 2833 training hours in 2019, covering management training, skills training, onboarding, and qualification training[174] - The total pre-tax remuneration for the chairman is 58.29万元, while the general manager and financial director received 45.62万元[171] - The company has established a market-oriented salary system that links performance assessment closely with individual compensation[173] Market and Industry Outlook - The environmental protection industry in China is expected to account for approximately 3% of the national GDP by 2020, indicating significant growth potential[86] - The company's garbage incineration power generation business is projected to maintain over 20% growth in the coming years, driven by national policies promoting waste incineration[87] - The market demand for clean fuel and clean combustion technology remains strong, particularly in the industrial boiler sector, which is a key customer base for the company[86]

Financial Performance - The company's operating revenue for 2016 was approximately ¥772 million, a decrease of 22.71% compared to ¥998 million in 2015[23]. - The net loss attributable to shareholders for 2016 was approximately ¥286 million, a significant decline of 7164.45% from a profit of ¥4 million in 2015[23]. - The cash flow from operating activities for 2016 was approximately ¥243 million, a decrease of 301.27% compared to a negative cash flow of approximately ¥121 million in 2015[23]. - The total assets at the end of 2016 were approximately ¥2.826 billion, down 12.75% from ¥3.260 billion at the end of 2015[24]. - The net assets attributable to shareholders at the end of 2016 were approximately ¥1.180 billion, a decrease of 18.31% from ¥1.444 billion at the end of 2015[24]. - The basic earnings per share for 2016 was -¥0.40, a decline of 4100.00% from ¥0.04 in 2015[23]. - The company reported a significant decline in net profit, with a loss of approximately 30.19 million CNY, compared to a profit of 406.07 million CNY in the previous year, indicating a decrease of over 107%[109]. - The company reported a total operating income of 24,006,076 CNY for Wuhan Combustion Control Technology Thermal Energy Engineering Co., Ltd.[107]. 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 2,851,200 yuan, based on a total share capital of 712,800,000 shares as of December 31, 2015[122]. - The cash dividend represents 100% of the total profit distribution for the year[126]. - The cash dividend paid in 2016 was significantly lower compared to previous years, reflecting the company's financial challenges[129]. - The remaining undistributed profits for 2016 will be carried forward to the next fiscal year[126]. 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 the risk of increased financial expenses due to ongoing investment projects, which may significantly impact its performance[10]. - The company is aware of potential project investment risks due to changes in national industrial policies and macroeconomic conditions, which could delay project execution and affect expected benefits[9]. - The company has faced challenges in receivables management, with discrepancies in accounts receivable from major projects leading to adjustments in financial statements[24]. - The company’s management acknowledges the challenges posed by expanding operational scale and the need for enhanced management capabilities to adapt to changing internal and external environments[10]. Strategic Initiatives - The company plans to enhance its market presence and product offerings through strategic initiatives and potential acquisitions in the environmental sector[24]. - The company is actively developing solid waste treatment projects, including waste incineration power generation projects[46]. - The company has expanded into water environment governance through the acquisition of Beijing Yingnuo Green Technology Co., Ltd. in March 2015[44]. - The company is participating in various PPP projects to enhance its industry influence in environmental governance[46]. - The company aims to develop a comprehensive environmental governance service platform, integrating capabilities in air, water, and solid waste management[117]. Research and Development - The company holds 97 utility model patents, 20 invention patents, and 5 software copyrights, showcasing its strong R&D capabilities in environmental technology[53]. - Research and development investment amounted to approximately CNY 44 million in 2016, representing 5.70% of operating revenue, with a total of 73 R&D personnel, accounting for 10.08% of the workforce[85]. - The company has established partnerships with three major universities for collaborative research, enhancing its innovation capabilities in environmental technologies[195]. Market Trends and Government Support - The government continues to increase support for the environmental protection industry, providing ongoing growth opportunities for the company[47]. - The implementation of the "Air Pollution Prevention and Control Action Plan" requires a direct investment of 1.84 trillion yuan, with the central government investing 5 billion yuan and 10 billion yuan in the first two years[114]. - The "Water Pollution Prevention and Control Action Plan" is expected to generate an additional output value of approximately 1.9 trillion yuan for the environmental protection industry[114]. - The "13th Five-Year Plan" anticipates total environmental protection investment to exceed 17 trillion yuan, indicating significant market potential for the environmental industry[116]. Corporate Governance - The company’s financial report has been confirmed by its board and management as accurate and complete, ensuring accountability for its contents[3]. - The company has committed to maintaining the independence of its operations and financial management[129]. - The company guarantees that in the event of unavoidable related party transactions, they will be conducted fairly and transparently, adhering to market rules and legal obligations[131]. - The company has established a commitment to not use raised funds for permanent working capital or to repay bank loans, ensuring funds are utilized appropriately[131]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[132]. Management and Personnel - The company experienced a management turnover, with multiple executives, including the general manager and several directors, resigning due to personal work reasons and company management needs[190]. - The company has appointed new executives, including a vice president and a board secretary, to address management needs and improve operational efficiency[190]. - The total remuneration for directors and senior management during the reporting period amounted to CNY 6,579,000[200]. - The highest remuneration was received by Zhu Feng, a deputy general manager, totaling CNY 978,500[200]. - The company has a performance assessment system for remuneration based on a 1:1 ratio of base salary to performance salary[198].

Financial Performance - The company's operating revenue for 2017 was ¥654,510,553.92, a decrease of 15.22% compared to ¥772,006,227.88 in 2016[19] - The net profit attributable to shareholders was ¥4,254,262.66, representing a significant increase of 101.49% from a loss of ¥285,944,099.05 in the previous year[19] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥88,646,710.92, an improvement of 70.57% from -¥301,165,444.04 in 2016[19] - 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[19] - The total assets at the end of 2017 amounted to ¥3,026,179,112.38, an increase of 7.08% from ¥2,825,986,783.57 in 2016[19] - The net assets attributable to shareholders were ¥1,182,090,333.65, showing a slight increase of 0.21% from ¥1,179,565,521.52 in 2016[19] - The basic earnings per share for 2017 was ¥0.006, compared to a loss of ¥0.4093 in 2016, marking a 101.47% improvement[19] - The diluted earnings per share also stood at ¥0.006, reflecting the same percentage increase as the basic earnings per share[19] - The weighted average return on net assets was -7.81%, an improvement of 14.67% from -22.48% in 2016[19] Revenue Breakdown - The net combustion and boiler energy efficiency segment generated ¥320.97 million, accounting for 49.04% of total revenue, with a year-on-year increase of 41.56%[59] - The flue gas treatment segment saw a significant decline in revenue, dropping 62.52% to ¥150.29 million from ¥400.94 million[59] - The waste-to-energy segment experienced substantial growth, with revenue increasing by 585.93% to ¥36.96 million[59] - The water treatment segment's revenue was ¥168.62 million, reflecting a year-on-year increase of 26.86%[59] Investments and Acquisitions - The company acquired 100% equity of Jiangsu Yongbao Environmental Technology Co., Ltd. in two phases, enhancing its hazardous waste business capabilities[45] - The company is actively involved in the research and development of bioenergy equipment, with a reported investment of RMB 10 million in this area[100] - The company is involved in the acquisition of environmental protection equipment and engineering services[89] - The company has initiated new projects in various fields, including high-efficiency reverse osmosis systems and rural integrated sewage treatment equipment[74] - The company is focusing on expanding its business scope and enhancing profitability through strategic acquisitions and partnerships in the environmental sector[101] Strategic Focus and Innovation - The company emphasized its focus on technology innovation and has developed various technologies including ultra-low nitrogen burners and waste gas treatment systems[30] - The company aims to develop new technologies such as ultra-low nitrogen burners and plasma generators to maintain competitive advantage and improve service quality[111] - The company is transitioning from equipment manufacturing to operational management in the environmental industry, aiming to increase its comprehensive governance service capabilities[101] - The company is committed to developing new profit growth points through strategic investments in the renewable energy industry, particularly in waste management and energy recovery[103] Market Position and Competition - 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[31] - The environmental protection industry is experiencing rapid growth, providing significant opportunities for companies with strong technological reserves like the company[31] - The company faces increased competition in the solid waste disposal industry due to the entry of large state-owned enterprises and private capital into the environmental sector[112] Cash Flow and Financial Management - The net cash flow from operating activities was -¥101,481,954.54 in 2017, a decline of 141.74% compared to the previous year[78] - Cash inflow from investment activities increased by 11.27% to ¥343,993,018.59, while cash outflow rose by 22.01% to ¥383,662,179.21[78] - The net cash flow from financing activities decreased by 61.83% to ¥192,600,000.00, reflecting a reduction in financing scale due to tighter bank credit policies[78] - The company reported a significant increase in accounts receivable due to the growth of its main environmental business, necessitating enhanced management and collection efforts[116] Corporate Governance and Compliance - The company has established a comprehensive accounts receivable management system to mitigate risks associated with increasing receivables[116] - The company guarantees the independence of its assets and operations, ensuring no violation of fund, asset, or resource occupation[128] - The company has established an independent financial department and accounting system, capable of making independent financial decisions[129] - The company has a commitment to avoid related party transactions unless necessary, ensuring compliance with market rules and fair trading principles[132] Future Outlook - The company plans to focus on expanding its core environmental business and enhancing profitability through project construction and market development in 2018[110] - The company is actively pursuing opportunities for mergers and acquisitions to enhance its competitive position in the market[194] - The company has set ambitious targets for revenue growth and market expansion in the next fiscal period[191] - The company is committed to sustainability, with a goal to reduce carbon emissions by 50% by 2030[198]

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]