证券代码：300190 证券简称：维尔利 维尔利环保科技集团股份有限公司投资者关系活动记录表 编号：2022-001 | --- | --- | |----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | 投资者关系活动 | 特定对象调研 □ 分析师会议 | | 类别 | 媒体采访 □ 业绩说明会 | | | 新闻发布会 □ 路演活动 | | | 现场参观 | | | 其他电话会议 | | 参与单位名称及 | 广发证券郭鹏、姜涛 交银施罗德基金 高逸云 兴全基金 | | 人员姓名 | 廖玉乐 财通基金 白沁雨 中庚基金 胡坤 长安基金 林 忠晶 浙商证券资管产管理有限公司 刘淼 进门财经 林宜 杜南青 国联证券 赵宇 中国人保资产管理有限公司 田 | | 时间 | 2022 ...

维尔利环保科技集团股份有限公司 2022 年第三季度报告 证券代码：300190 证券简称：维尔利 公告编号：2022-079 债券代码：123049 债券简称：维尔转债 维尔利环保科技集团股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报 告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □是 否 1 维尔利环保科技集团股份有限公司 2022 年第三季度报告 一、主要财务数据 （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 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,012,862,667.05, a decrease of 36.14% compared to ¥1,586,011,726.56 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was ¥34,102,358.29, down 74.00% from ¥131,168,653.86 year-on-year[20]. - Basic earnings per share decreased by 76.47% to ¥0.04 from ¥0.17 in the same period last year[20]. - The net profit after deducting non-recurring gains and losses was ¥14,372,349.32, down 88.33% from ¥123,143,692.85 year-on-year[20]. - Operating profit for the same period was CNY 39,589,201.09, down 70.63% year-on-year, while net profit attributable to shareholders decreased by 74.00% to CNY 34,102,358.29[40]. - The company's revenue from environmental engineering was CNY 271,064,968, a decrease of 71.98% compared to the same period last year, with a gross margin of 24.78%[53]. - Revenue from environmental equipment reached CNY 209,370,764, an increase of 19.04% year-on-year, with a gross margin of 37.36%[53]. - Operating services generated CNY 261,112,969 in revenue, reflecting a 25.63% increase from the previous year, with a gross margin of 21.48%[53]. - The company reported a total revenue of 27,517 million CNY for the first half of 2022, with a 100% utilization of the funds raised[66]. - The company reported a total revenue of 1.5 billion RMB for the first half of 2022, representing a year-on-year increase of 15%[93]. - The company reported a total revenue of 6,000 million for the first half of 2022, showing a significant increase compared to the previous period[124]. - The total revenue for the first half of 2022 was approximately 2.7 billion yuan, representing a 14% increase compared to the previous year[192]. - The total revenue for the period reached 3,756 million, indicating a robust performance in the market[198]. Cash Flow and Investments - The net cash flow from operating activities was -¥72,988,449.87, an improvement of 34.67% compared to -¥111,716,179.38 in the previous year[20]. - The net cash flow from operating activities improved by 35.42%, moving from -¥111,716,179.38 to -¥72,988,449.87, attributed to increased tax refunds and reduced tax payments[52]. - The company's cash and cash equivalents at the end of the reporting period were CNY 946,673,970, a decrease of 1.47% from the previous year[57]. - The total cash inflow from financing activities was 733,009,239.74 CNY, an increase from 596,095,000.00 CNY in the previous period, reflecting improved financing efforts[186]. - The net cash flow from financing activities was -42,019,475.88 CNY, showing an improvement compared to -86,763,849.96 CNY in the previous period[186]. - The total cash outflow from investment activities was 957,760,788.07 CNY, significantly higher than 312,345,598.93 CNY in the previous period, suggesting increased investment expenditures[186]. - The company received 701,000,000.00 CNY in new borrowings, compared to 596,095,000.00 CNY in the previous period, reflecting a strategy to leverage debt for growth[186]. Assets and Liabilities - Total assets at the end of the reporting period were ¥10,497,239,147.94, a decrease of 1.41% from ¥10,647,452,922.92 at the end of the previous year[20]. - The company's total assets amounted to CNY 7,712,220,059.46, slightly down from CNY 7,798,611,938.36 at the end of 2021[174]. - The total liabilities decreased from CNY 6,131.20 million to CNY 6,013.36 million[170]. - The company's total equity attributable to shareholders decreased from CNY 4,379.17 million to CNY 4,333.67 million[170]. - The total equity attributable to the parent company showed fluctuations, reflecting changes in retained earnings and other comprehensive income[188]. Research and Development - Research and development investment decreased by 21.74% to ¥45,515,125.21 from ¥58,159,957.32, indicating a reduction in R&D activities[52]. - The company has cumulatively used RMB 731,117,321.36 of the raised funds by the end of 2021, with a remaining balance of RMB 182,572,174.45[63]. - The company has received several awards for technological progress, including first and third prizes from Jiangsu Province, and has participated in drafting multiple industry standards[42]. - The company has established a management system that enhances operational efficiency and risk prevention across its subsidiaries[50]. - The company is committed to enhancing its competitive edge through digital transformation and continuous improvement of its core technologies[28]. - The company has allocated 150 million yuan for research and development to innovate and improve product offerings[190]. Market Strategy and Expansion - The company aims to expand its business into landfill closure and other emerging sectors to enhance operational performance[34]. - The company is actively expanding its industrial wastewater treatment business and landfill closure services, alongside its wet waste treatment initiatives[41]. - The company is focusing on digital transformation, having nearly completed its enterprise management software platform to optimize project lifecycle management[44]. - The company is exploring potential mergers and acquisitions to enhance its competitive edge in the environmental technology sector[190]. - The company plans to expand its market presence by launching new products and enhancing technology development in the upcoming quarters[190]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by the end of 2023[93]. Environmental Compliance - The company reported a total COD discharge of 6.6 tons, which is 13.2 tons per year, within the standard limit of ≤50 mg/L[90]. - The ammonia nitrogen discharge was recorded at 1.32 tons, equating to 3.3 tons per year, also compliant with the standard limit of ≤10 mg/L[90]. - The company has implemented measures to ensure compliance with environmental standards and regulations[90]. - The company actively responds to national environmental protection requirements and improves waste disposal efficiency[99]. - The company has received environmental impact approvals from relevant authorities for its projects, demonstrating regulatory compliance[96]. Risks and Challenges - The company is facing risks in its operations, which are discussed in detail in the report[5]. - The company faces risks from macroeconomic fluctuations, particularly due to the ongoing COVID-19 pandemic, which has impacted the domestic and international economic environment[76]. - Rising material costs due to various factors, including the pandemic, pose a risk to project execution and operational costs; the company aims to improve procurement processes and utilize digital platforms for cost management[78]. - The company is exposed to risks related to policy changes in the environmental sector, which can significantly affect market demand; it plans to actively track and adapt to these changes[77]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 25,708[141]. - The largest shareholder, Changzhou Dezese Industrial Investment Co., Ltd., holds 35.26% of shares, totaling 275,572,256 shares[142]. - The company has not conducted any repurchase transactions among the top 10 common shareholders during the reporting period[143]. - The proportion of pledged shares by the largest shareholder reaches 80% of their total holdings[144]. Corporate Governance - The company completed the new board of directors' election in June 2022, resulting in changes in directors and senior management personnel[136]. - The company maintains open communication with shareholders through various channels, ensuring transparency and engagement[98]. - The company has established a comprehensive employee training program, enhancing skills and promoting overall development[98].

Financial Performance - The company's revenue for Q1 2022 was CNY 434,019,954.88, a decrease of 34.58% compared to CNY 663,402,652.98 in the same period last year[4] - Net profit attributable to shareholders was CNY 30,852,114.73, down 44.41% from CNY 55,501,699.38 year-on-year[4] - The total operating revenue for Q1 2022 was CNY 434,019,954.88, a decrease of 34.6% compared to CNY 663,402,652.98 in the same period last year[21] - The net profit for Q1 2022 was CNY 32,941,981.84, a decline of 40.6% compared to CNY 55,480,645.43 in Q1 2021[22] - The basic earnings per share for Q1 2022 was CNY 0.04, down from CNY 0.07 in Q1 2021[23] Cash Flow - The net cash flow from operating activities was negative CNY 208,620,292.76, a decline of 46.62% compared to negative CNY 142,287,722.28 in the previous year[4] - The cash inflow from operating activities was CNY 536,097,638.76, compared to CNY 546,497,084.59 in the previous year[25] - The company reported a total cash outflow from operating activities of 744,717,931.52 CNY, which is an increase from 688,784,806.87 CNY, indicating a rise of approximately 8.1%[26] - The company's net increase in cash and cash equivalents was -291,267,889.78 CNY, compared to -1,892,927.69 CNY in the previous year, indicating a significant deterioration in cash flow[27] Assets and Liabilities - The total assets at the end of the reporting period were CNY 10,531,882,327.61, a decrease of 1.09% from CNY 10,647,452,922.92 at the end of the previous year[4] - The company's total liabilities decreased to CNY 5,976,424,439.83 from CNY 6,131,200,495.86, reflecting a reduction of 2.5%[20] - The total equity attributable to shareholders increased to CNY 4,410,021,222.34 from CNY 4,379,167,331.79, representing a growth of 0.7%[20] - The total current assets decreased to ¥5,882,655,796.98 from ¥6,001,407,709.10[18] - The company's accounts receivable decreased to ¥1,740,392,528.55 from ¥1,768,352,313.06, indicating a reduction of about 1.6%[18] Investment Activities - Investment income increased significantly by 1383.46% to CNY 17,049,850.85, primarily due to the transfer of equity in certain associates[8] - The company reported an investment income of CNY 17,049,850.85, significantly higher than CNY 1,149,333.07 in the same period last year[21] - The company experienced a 2521.01% increase in cash paid for other investment activities, amounting to CNY 395,000,000.00, indicating a substantial rise in structured deposit purchases[9] - The cash inflow from investment activities totaled 239,188,460.46 CNY, compared to 143,209,408.12 CNY in the previous year, marking an increase of about 67.1%[26] Research and Development - Research and development expenses decreased by 40% to CNY 16,327,766.17 compared to the same period last year[8] - Research and development expenses for Q1 2022 were CNY 16,327,766.17, down 40.1% from CNY 27,213,034.82 in Q1 2021[21] Convertible Bonds - The company has 9,169,865 convertible bonds remaining, with a total face value of ¥916,986,500[15] - A total of 2,522 convertible bonds were converted, resulting in the issuance of 33,680 shares of the company's stock[15] - The company plans to implement a public offering of convertible bonds, which was first announced in May 2019[14] - The company completed interest payments on its convertible bonds for the period from April 13, 2021, to April 12, 2022[15]

Financial Performance - The company's revenue for Q1 2022 was CNY 434,019,954.88, a decrease of 34.58% compared to CNY 663,402,652.98 in the same period last year[4] - Net profit attributable to shareholders was CNY 30,852,114.73, down 44.41% from CNY 55,501,699.38 year-on-year[4] - Total operating revenue for Q1 2022 was CNY 434,019,954.88, a decrease of 34.6% compared to CNY 663,402,652.98 in the same period last year[21] - Net profit for Q1 2022 was CNY 32,941,981.84, a decline of 40.5% compared to CNY 55,480,645.43 in Q1 2021[22] - Earnings per share for Q1 2022 was CNY 0.04, down from CNY 0.07 in the previous year[23] Cash Flow - The net cash flow from operating activities was negative at CNY -208,620,292.76, a decline of 46.62% compared to CNY -142,287,722.28 in the previous year[4] - The cash inflow from operating activities totaled $536,097,638.76, a decrease from $546,497,084.59 in the previous period[25] - The cash outflow from operating activities amounted to $744,717,931.52, compared to $688,784,806.87 in the prior period, resulting in a net cash flow from operating activities of -$208,620,292.76, worsening from -$142,287,722.28[26] - The net increase in cash and cash equivalents was -$291,267,889.78, compared to -$1,892,927.69 in the previous period[27] Assets and Liabilities - The company's total assets increased by 5.57% to CNY 10,531,882,327.61 from CNY 9,976,608,434.14 at the end of the previous year[4] - As of March 31, 2022, the total assets of the company amounted to approximately ¥10.53 billion, a decrease from ¥10.65 billion at the beginning of the year[16] - Total liabilities decreased to CNY 5,976,424,439.83 from CNY 6,131,200,495.86, reflecting a reduction of 2.5%[20] - Total equity increased to CNY 4,555,457,887.78 from CNY 4,516,252,427.06, representing a growth of 0.9%[20] Investment and Expenses - Research and development expenses decreased by 40% to CNY 16,327,766.17 compared to the same period last year[8] - Investment income surged by 1383.46% to CNY 17,049,850.85, attributed to the transfer of equity in certain joint ventures[8] - The company reported a credit impairment loss of CNY 17,122,274.36, compared to a gain of CNY 989,023.08 in the previous year[22] - The cash paid for the purchase of fixed assets and intangible assets decreased by 47.48% to CNY 82,708,213.49 compared to the previous year[9] Shareholder Information - The company has issued a total of 9,172,387 convertible bonds, with a total fundraising amount of approximately ¥917.24 million[14] - As of the report date, 2,522 convertible bonds had been converted into 33,680 shares of the company's stock[15] - The company has a significant portion of its shares held by major shareholders, with the largest shareholder holding 35.26% of the total shares[12] Strategic Focus - The company plans to continue its strategy of expanding its market presence and enhancing its product offerings, although specific new products or technologies were not detailed in the provided content[14] - The company has not reported any new mergers or acquisitions in the current quarter, focusing instead on organic growth strategies[14]

Financial Performance - The company reported a significant increase in revenue, with a total of 781,587,620.00 CNY for the year 2021, reflecting a robust financial performance[11]. - The company's operating revenue for 2021 was ¥3,153,242,136.82, a decrease of 1.55% compared to ¥3,202,734,193.99 in 2020[24]. - The net profit attributable to shareholders for 2021 was ¥186,250,872.97, down 47.87% from ¥357,309,344.37 in 2020[24]. - The net cash flow from operating activities decreased by 10.29% to ¥325,378,788.32 in 2021 from ¥362,711,408.89 in 2020[24]. - Basic earnings per share dropped to ¥0.24 in 2021, a decline of 47.83% from ¥0.46 in 2020[24]. - The total assets at the end of 2021 increased by 8.50% to ¥10,647,452,922.92 from ¥9,813,021,924.24 at the end of 2020[24]. - The net assets attributable to shareholders rose by 2.43% to ¥4,379,167,331.79 at the end of 2021 compared to ¥4,275,201,748.98 at the end of 2020[24]. - The company reported a significant decrease in net profit excluding non-recurring gains and losses, which was ¥159,201,609.33 in 2021, down 47.25% from ¥301,777,840.03 in 2020[24]. - The company's operating profit was ¥185,545,011.54, down 54.87% year-on-year, and net profit attributable to shareholders was ¥186,250,872.97, a decline of 47.87%[48]. - The company reported a significant increase in financial expenses compared to the previous year, impacting profit margins[48]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 1.00 CNY per 10 shares to all shareholders, indicating a commitment to returning value to investors[11]. - The proposed cash dividend distribution for 2021 is CNY 1 per 10 shares, totaling CNY 78,158,762, based on a total of 781,587,620 shares[166]. - The total distributable profit available for shareholders after accounting for legal reserves and retained earnings is CNY 609,180,451.75[166]. Market and Competitive Landscape - The competitive landscape in the environmental sector has intensified, with numerous strong competitors entering the market, prompting the company to enhance its R&D efforts and maintain its technological edge[6]. - The company is actively pursuing mergers and acquisitions to expand its business and market presence, which may introduce additional financial risks if the acquired entities do not perform as expected[10]. - The company is focusing on organic waste resource utilization, emphasizing digital transformation and R&D innovation to enhance competitiveness and industry standing[42]. - The company aims to leverage policy opportunities to expand its anaerobic technology across various sectors, aiming to increase market share and operational performance[40]. - The company is exploring market expansion opportunities to enhance its service offerings in environmental technology[176]. Operational Challenges and Risks - The company is facing risks from macroeconomic fluctuations, particularly due to the ongoing COVID-19 pandemic, which may impact the environmental industry significantly[5]. - Rising material costs due to various factors, including the pandemic, pose a risk to project execution and operational costs, leading the company to implement measures to manage procurement effectively[8]. - The company is closely monitoring policy changes in the environmental sector to capitalize on opportunities and adapt its business strategies accordingly[8]. - The company is focusing on improving its accounts receivable management to mitigate risks associated with high receivables, ensuring better cash flow and reducing potential bad debts[11]. - The company will emphasize cash flow management and accounts receivable collection to improve operational cash flow and reduce financial risks[115]. Research and Development - The company emphasizes research and development, expanding its R&D team and enhancing the efficiency of technology development[50]. - The company has been engaged in leachate treatment for nearly 20 years, possessing advanced core technologies such as MBR, anaerobic, ultrafiltration, nanofiltration, and reverse osmosis[36]. - The company has established a group industry research institute to accelerate the R&D process across various business units[53]. - The company's R&D investment amounted to approximately ¥116.86 million in 2021, representing 3.71% of total revenue, an increase from 3.45% in 2020[74]. - The number of R&D personnel increased by 10.74% from 242 in 2020 to 268 in 2021, with a notable rise in the proportion of personnel holding bachelor's degrees[74]. Environmental Compliance and Initiatives - The company is classified as a key pollutant discharge unit, with specific emissions data reported for various pollutants, including COD at 6.6 tons and ammonia nitrogen at 1.32 tons[175]. - The company has committed to continuous improvement of its internal control system to adapt to business growth and external market changes[172]. - The company is focused on enhancing its environmental compliance and reducing emissions across its operations[176]. - The company plans to invest in new technologies to further improve its wastewater treatment processes[177]. - The company has successfully implemented all environmental protection facilities as per the environmental impact assessment approvals from relevant authorities[181]. Governance and Management - The company has a board of directors consisting of 9 members, including 3 independent directors, complying with legal and regulatory requirements[121]. - The company has established a complete internal control system in compliance with relevant laws and regulations, enhancing governance and risk management capabilities[168]. - The company has a strategic and investment committee, a compensation and assessment committee, an audit committee, and a nomination committee to oversee various functions[121]. - The company actively engages in social responsibility initiatives, contributing to environmental governance and social harmony[122]. - The company has a differentiated compensation policy that includes basic salary, performance pay, social security, and housing fund, aimed at enhancing employee motivation and belonging[159]. Future Outlook and Strategic Plans - Future outlook includes a projected revenue growth of 15% for 2022, driven by new product launches and market expansion strategies[128]. - The company plans to invest 91,723.87 million in various projects, with 27,517.16 million allocated for working capital[104]. - The company aims to strengthen its market position amid increasing competition in the environmental protection industry, driven by stringent regulations and growing market demand[110]. - The company plans to increase its workforce by 10% in 2022 to support growth initiatives and enhance service delivery[130]. - The company will continue to advance its digital transformation, aiming to complete the enterprise management software platform to optimize business processes and improve operational efficiency[114].

Financial Performance - The company's revenue for Q3 2021 was CNY 773,870,106.95, representing a 6.69% increase year-over-year, while the year-to-date revenue reached CNY 2,359,881,833.51, up 17.30% compared to the same period last year [5]. - The net profit attributable to shareholders for Q3 2021 was CNY 38,162,751.24, a significant decrease of 71.81% year-over-year, with a year-to-date net profit of CNY 169,331,405.10, down 43.27% [5]. - The weighted average return on equity was 0.88% for Q3 2021, down 2.37% year-over-year, reflecting challenges in profitability [5]. - The net profit attributable to shareholders was CNY 169,331,405.10, a decrease of 43.27% year-on-year; the net profit after deducting non-recurring gains and losses was CNY 150,658,843.24, down 39.53% year-on-year [16]. - Net profit for the period was ¥168,455,649.33, a decrease from ¥299,755,758.85 in the same quarter last year [24]. - Earnings per share (basic) decreased to ¥0.22 from ¥0.38 in the previous year [24]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 10,275,795,479.79, reflecting a 4.72% increase from the end of the previous year [5]. - As of September 30, 2021, total assets amounted to CNY 10,275,795,479.79, compared to CNY 9,813,021,924.24 at the end of 2020 [19]. - Current assets totaled CNY 5,806,596,483.10, an increase from CNY 5,501,162,799.07 at the end of 2020 [17]. - The company's total liabilities increased, with accounts payable rising to CNY 1,513,541,890.00 from CNY 1,372,746,517.74 at the end of 2020 [19]. - Total liabilities increased to ¥5,776,568,207.55 from ¥5,403,707,642.65 year-on-year [23]. - Total equity attributable to shareholders of the parent company rose to ¥4,363,990,495.40 from ¥4,275,201,748.98 [23]. Cash Flow - Cash flow from operating activities showed a net outflow of CNY 50,982,300.75 for the year-to-date period, marking an 81.91% increase in cash outflow compared to the previous year [5]. - The cash inflow from operating activities was CNY 1,977,094,764.45, an increase of 26.3% compared to CNY 1,565,788,101.84 in the previous period [26]. - The net cash outflow from operating activities was CNY -50,982,300.75, improving from CNY -281,758,306.64 in the same period last year [26]. - The total cash outflow from operating activities was CNY 2,028,077,065.20, compared to CNY 1,847,546,408.48 in the previous period [26]. - The ending cash and cash equivalents balance was CNY 549,827,785.92, down from CNY 953,944,381.96 at the end of the previous period [27]. Research and Development - Research and development expenses for the year-to-date period amounted to CNY 93,617,447.1, an increase of 52.36% compared to the previous year, indicating a focus on innovation and development [9]. - Research and development expenses increased to ¥93,617,447.10 from ¥61,445,003.92, reflecting a focus on innovation [23]. Operational Efficiency - The company is implementing multiple measures to reduce project execution and operational costs to improve profitability [16]. - The company continues to explore market expansion and new product development strategies to enhance future growth prospects [24]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 27,481, indicating a stable shareholder base [13].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,586,011,726.56, representing a 23.28% increase compared to CNY 1,286,491,954.16 in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 19.57% to CNY 131,168,653.86 from CNY 163,087,547.63 in the previous year[20]. - Basic earnings per share decreased by 19.05% to CNY 0.17 from CNY 0.21 in the same period last year[20]. - The diluted earnings per share also decreased by 15.79% to CNY 0.16 from CNY 0.19 in the previous year[20]. - The weighted average return on net assets was 3.02%, down from 4.10% in the same period last year[20]. - The net profit for the first half of 2021 was CNY 128.53 million, a decrease of 21.4% compared to CNY 163.45 million in the same period of 2020[200]. - The total profit amounted to CNY 142.85 million, down 26.0% from CNY 193.13 million year-on-year[200]. - Operating profit decreased to CNY 134.79 million, a decline of 30.6% from CNY 194.14 million in the previous year[200]. - The company reported a tax expense of CNY 14.32 million, which is a reduction of 51.8% compared to CNY 29.68 million in the prior year[200]. - The net profit attributable to the parent company was CNY 131.17 million, down 19.6% from CNY 163.09 million in the same period last year[200]. Cash Flow and Assets - The net cash flow from operating activities improved by 28.63%, reaching CNY -111,716,179.38, compared to CNY -156,526,647.42 in the same period last year[20]. - The total assets at the end of the reporting period were CNY 10,146,315,225.94, an increase of 3.40% from CNY 9,813,021,924.24 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company increased by 1.18% to CNY 4,325,826,004.49 from CNY 4,275,201,748.98 at the end of the previous year[20]. - Cash and cash equivalents increased to CNY 806.51 million from 754.22 million at the end of last year[190]. - Accounts receivable rose to CNY 2,050.74 million, up from 1,747.07 million at the end of last year[190]. - The company's long-term debt stands at 850.76 million, an increase from 781.32 million at the end of last year[192]. - The total liabilities amount to 5,689.02 million, compared to 5,403.71 million at the end of last year[192]. Research and Development - The company increased its R&D expenditure by 52.59% compared to the previous year, focusing on solid waste disposal technologies[39]. - Research and development expenses for the first half of 2021 were CNY 58,159,957.32, up 52.6% from CNY 38,115,550.01, highlighting a commitment to innovation[198]. - The company is focusing on enhancing its R&D capabilities and exploring market expansion opportunities to drive future growth[200]. Environmental Initiatives - The company focuses on "urban and rural organic waste resource utilization" and "industrial energy conservation and environmental protection" as its main business areas[27]. - The company has established a strong position in the leachate treatment market, with a projected demand for leachate treatment reaching RMB 47.88 billion from 2019 to 2025[31]. - The company has developed the EMBT technology for resourceful and harmless treatment of kitchen waste, with successful projects already operational[33]. - The company reported a total of 0.24 tons of COD emissions, which is within the annual limit of 13.2 tons[108]. - The company’s ammonia nitrogen emissions were recorded at 0.09 tons, significantly below the annual limit of 3.3 tons[108]. - The company’s total nitrogen emissions were 0.16 tons, well within the annual limit of 5.28 tons[108]. - The company’s total phosphorus emissions were 0.003 tons, far below the annual limit of 0.396 tons[108]. - The company’s sulfur dioxide emissions were 6.53 tons, which is below the annual limit of 78.456 tons[109]. - The company’s nitrogen oxides emissions were recorded at 20.90 tons, well within the annual limit of 0.21 tons[109]. - The company’s particulate matter emissions were 0.54 tons, significantly below the annual limit of 29.26 tons[109]. Business Strategy and Market Position - The company is actively exploring new business areas, including industrial wastewater treatment and low-concentration gas catalytic oxidation, to expand its market presence[37]. - The company is leveraging carbon neutrality policies to develop carbon asset projects, aiming to enhance project profitability[40]. - The company has implemented a digital transformation strategy to optimize business processes and improve management efficiency[41]. - The company is committed to continuous innovation and digital transformation to enhance its service offerings and market competitiveness[27]. - The company is focusing on expanding its market presence through various new projects and technologies, aiming for sustainable growth in the environmental sector[81]. - The company anticipates continued growth in the second half of 2021, driven by increased demand for its environmental services and products[149]. Shareholder and Financial Management - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has strengthened its management oversight of subsidiaries to enhance operational standards and mitigate financial risks[42]. - The company emphasizes shareholder rights protection by adhering to legal regulations and facilitating shareholder participation in meetings[116]. - The company has maintained a stable credit rating of AA- for its convertible bonds, with a stable outlook[183]. - The company reported a total revenue of 12,392.03 million for the first half of 2021, showing a significant increase compared to 8,966.82 million in the same period of 2020, representing a growth of approximately 38.5%[148]. Risks and Challenges - The company faced increased competition in the environmental protection industry, prompting a focus on technological innovation and collaboration with large state-owned enterprises to maintain competitive advantages[96]. - The company highlighted risks related to high accounts receivable balances, emphasizing the need for improved management and collection processes to mitigate potential cash flow issues[98]. - The company aims to enhance its financial management and risk control in light of potential financial risks associated with mergers and acquisitions[97].

Financial Performance - The company's revenue for Q1 2021 was CNY 663,402,652.98, representing a 27.35% increase compared to CNY 520,943,916.96 in the same period last year[8]. - Net profit attributable to shareholders was CNY 55,501,699.38, up 16.83% from CNY 47,504,998.11 year-on-year[8]. - The net profit after deducting non-recurring gains and losses was CNY 49,295,243.97, reflecting a 12.80% increase from CNY 43,699,595.04 in the previous year[8]. - The total profit reached CNY 63,768,182.28, reflecting a growth of 13.51% year-over-year[19]. - The net profit for Q1 2021 reached CNY 55,480,645.43, representing a 22.2% increase from CNY 45,401,746.94 in Q1 2020[49]. - The total comprehensive income for Q1 2021 was CNY 55,480,645.43, compared to CNY 45,401,746.94 in the same quarter last year, reflecting a growth of 22.2%[50]. Cash Flow - The net cash flow from operating activities was negative at CNY -142,287,722.28, worsening by 177.27% compared to CNY -51,317,815.41 in the same period last year[8]. - The total cash inflow from operating activities was CNY 546,497,084.59, an increase from CNY 494,905,353.04 in the previous period, representing a growth of approximately 10.3%[56]. - Cash outflow for purchasing goods and services was CNY 484,788,074.37, up from CNY 329,505,176.40, indicating a significant increase of about 47.2%[56]. - The net cash flow from operating activities for the parent company was -CNY 186,166,144.85, worsening from -CNY 31,551,208.90 in the prior period[59]. - Cash inflow from investment activities totaled CNY 143,209,408.12, a substantial increase from CNY 6,531,900.92, marking a growth of over 2,000%[56]. - The net cash flow from investment activities was -CNY 41,354,074.44, an improvement from -CNY 102,775,556.93 in the previous period[56]. - Cash inflow from financing activities was CNY 447,615,345.00, slightly down from CNY 462,564,555.90[57]. - The net cash flow from financing activities improved to CNY 181,748,869.03 from CNY 53,366,314.82[57]. - The ending cash and cash equivalents balance was CNY 578,851,959.99, compared to CNY 501,577,950.46 in the previous period, reflecting an increase of approximately 15.4%[57]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 9,976,608,434.14, a 1.67% increase from CNY 9,813,021,924.24 at the end of the previous year[8]. - As of March 31, 2021, the company's total current assets amounted to approximately CNY 5.69 billion, an increase from CNY 5.50 billion as of December 31, 2020, reflecting a growth of about 3.5%[39]. - Accounts receivable rose to approximately CNY 1.92 billion, up from CNY 1.75 billion, indicating an increase of around 9.5%[39]. - Current liabilities totaled CNY 3,551,838,669.95, slightly down from CNY 3,597,099,597.96, indicating improved management of short-term obligations[41]. - Non-current liabilities rose to CNY 1,957,471,470.10 from CNY 1,806,608,044.69, suggesting increased long-term financing[41]. - Owner's equity increased to CNY 4,467,298,294.09 from CNY 4,409,314,281.59, reflecting a strengthening of the company's financial position[42]. Investments and Projects - The company reported a significant increase of 87.9% in prepaid accounts, amounting to CNY 141,902,386.99, due to investments in the construction of an industrial research institute and an environmental intelligent cloud platform[16]. - The company has completed 100% of its commitments for several projects, including the Tonglu County sewage treatment project and the Wenling City leachate treatment plant expansion[28]. - The investment in Hanfeng Technology totaled CNY 35,000 million, with a cumulative investment of CNY 30,257 million realized by the end of the reporting period[28]. - The company is actively pursuing market expansion through various environmental projects, including the construction of new waste treatment facilities[29]. - The company has committed to various projects, including the construction of an environmental intelligent cloud platform with an investment of CNY 6.35 billion, expected to be completed by the end of 2022[31]. - The marketing service network and exhibition center construction project has an investment of approximately CNY 4.78 billion, with a completion target set for December 31, 2023[31]. Financial Management and Strategy - Financial expenses increased by 34.28% to CNY 23,283,471.61, primarily due to the accrual of convertible bond interest expenses[16]. - The company is actively managing risks related to high accounts receivable balances, aiming to improve cash flow and minimize bad debt losses[24][25]. - The company plans to enhance its competitive edge by focusing on technological innovation and strengthening partnerships with large state-owned enterprises[22]. - The company plans to repay part of its bank loans and bonds, ensuring financial stability and supporting ongoing projects[29]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[46]. - The company is focusing on enhancing its product offerings and exploring potential mergers and acquisitions to strengthen its competitive position[46].

Profit Distribution - The company reported a profit distribution plan based on a base of 781,584,171, proposing a cash dividend of 1 RMB per 10 shares (including tax) and no bonus shares[11]. - The total cash dividend amount for 2020 is RMB 78,158,417.10, which represents 21.87% of the net profit attributable to shareholders[152]. - The cash dividend distribution plan for 2020 is set at RMB 1 per 10 shares, based on a total of 781,584,171 shares[150]. - The company has maintained a consistent cash dividend policy, with the 2019 cash dividend amounting to RMB 78,378,495.70, which was 24.75% of the net profit[152]. - The total distributable profit for 2020, after accounting for the legal surplus reserve, is RMB 587,668,663.71[149]. - The company has not proposed any stock dividend or capital reserve transfer for the current fiscal year[145]. - The independent directors confirmed that the profit distribution plan aligns with the interests of shareholders and does not harm investor rights[146]. Financial Performance - The company's operating revenue for 2020 was approximately ¥3.20 billion, representing a 17.29% increase compared to ¥2.73 billion in 2019[23]. - The net profit attributable to shareholders for 2020 was approximately ¥357.31 million, up 12.82% from ¥316.71 million in 2019[23]. - The net cash flow from operating activities increased by 85.57% to approximately ¥362.71 million in 2020, compared to ¥195.46 million in 2019[23]. - The total assets at the end of 2020 reached approximately ¥9.81 billion, a 21.08% increase from ¥8.10 billion at the end of 2019[23]. - The company's net assets attributable to shareholders increased by 9.70% to approximately ¥4.28 billion at the end of 2020, compared to ¥3.90 billion at the end of 2019[23]. - The basic earnings per share for 2020 was ¥0.46, reflecting a 15.00% increase from ¥0.40 in 2019[23]. Business Strategy and Market Position - The company aims to enhance its core technology and maintain a competitive edge by focusing on practical technology engineering transformation[6]. - The company plans to strengthen cooperation with large state-owned enterprises to leverage resources and improve operational performance[6]. - The company is actively pursuing mergers and acquisitions to expand its business and market presence, while also recognizing the associated financial risks[9]. - The company is focused on improving its sales capabilities and project execution to maintain its leading position in the environmental protection industry[6]. - The company is aware of the competitive pressures from strong state-owned enterprises entering the environmental sector and is strategizing to mitigate these risks[6]. - The company is committed to tracking and analyzing industry policy changes to seize opportunities and enhance competitiveness[8]. Technological Innovation and R&D - The company emphasizes the importance of technological innovation and R&D to support its production and development goals[6]. - The company is focused on expanding its business in organic waste resource utilization and industrial energy conservation, aiming to enhance its competitive position in the market[33]. - The company has developed advanced treatment processes for leachate and wet waste, positioning itself as an expert in organic waste resource utilization[33]. - The company plans to continue leveraging digital transformation and innovation to improve service offerings and operational efficiency[33]. - The company is committed to developing integrated solutions for leachate treatment, aiming for a comprehensive approach to waste management[40]. - The company is focusing on optimizing industrial anaerobic processes to enhance market share and operational performance in the industrial energy-saving sector[44]. - The company has developed advanced anaerobic fermentation technologies and has undertaken several large-scale biogas projects, solidifying its position in the biogas and natural gas engineering field[44]. Financial Management and Risks - The company acknowledges the risk of high accounts receivable due to an increasing number of recognized income projects, emphasizing the need for effective management to avoid liquidity issues[10]. - The company reported a growing trend in accounts receivable, which poses a risk of cash flow shortages if not managed properly[10]. - The company has focused on improving accounts receivable collection, particularly for older projects, to enhance cash flow[63]. - The company has strengthened its management system, enhancing operational efficiency and risk management across subsidiaries[62]. - The company is actively pursuing industrial wastewater treatment orders to further diversify its business portfolio and improve financial performance[40]. Investment and Expansion - The company has made significant investments in construction projects, including the completion of the Changchun project and increased investment in the Dunhua Zhongneng construction[48]. - The company has established over 30 stable operational projects in kitchen waste treatment, enhancing its market presence and technical capabilities in this area[42]. - The company is expanding into new business sectors, with significant market potential for the multi-combination membrane scale-up device[84]. - The company has completed the technical research for low-cost harmless landfill and leachate treatment technology, including the construction of two engineering demonstration projects[84]. - The company is actively developing new markets in low-concentration gas catalytic oxidation for industries such as sludge drying, oil recovery, and pharmaceuticals[45]. Environmental and Regulatory Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[183]. - The wastewater treatment system processes domestic sewage and landfill leachate, achieving compliance with GB16889-2008 standards[185]. - The company has fully implemented environmental protection facilities as per the environmental impact report approval[183]. - The company has established a self-monitoring plan for pollution sources and is complying with environmental monitoring requirements[188]. - The company has developed emergency response plans for environmental incidents and submitted them for local environmental department approval[187]. Shareholder and Corporate Governance - The company has engaged Xinyong Zhonghe Accounting Firm for auditing services, with a fee of 1.15 million CNY, maintaining a relationship for 10 years[160]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period, indicating financial stability[158]. - The company has adhered to its commitments regarding related party transactions and competitive practices, ensuring compliance with legal and regulatory standards[156]. - The company has not faced any non-standard audit reports during the reporting period, reflecting sound financial practices[159]. - The company reported no significant litigation or arbitration matters during the reporting period[161].