Financial Performance - Net profit attributable to shareholders increased by 90.64% to CNY 135,375,328.83 for the reporting period[8] - Operating revenue for the reporting period was CNY 725,317,775.21, reflecting a growth of 15.18% year-on-year[8] - Basic earnings per share rose by 90.62% to CNY 0.1727 for the reporting period[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 39.57% to CNY 94,709,764.32 for the reporting period[8] - Operating profit for the reporting period was ¥327,633,397.03, with net profit reaching ¥299,755,758.85, representing a year-on-year increase of 30.35%[17] - The net profit for the third quarter reached CNY 136,306,320.49, compared to CNY 68,634,796.49 in the previous year, marking an increase of about 99.0%[41] - The total profit for the third quarter was CNY 155,736,051.48, significantly higher than CNY 82,979,197.65 in the previous year, indicating a growth of around 87.5%[40] - The total profit for the quarter was CNY 348,863,692.31, an increase of 36.4% from CNY 255,773,131.90 in the previous year[49] Assets and Liabilities - Total assets increased by 14.14% to CNY 9,250,785,426.84 compared to the end of the previous year[8] - The company's total assets as of September 30, 2020, were CNY 7,062,818,674.04, compared to CNY 5,923,749,953.00 at the end of 2019[36] - The total liabilities increased to CNY 3,414,352,354.85 from CNY 2,551,730,558.79 year-over-year[36] - Owner's equity totaled CNY 4,009,286,201.19, with CNY 783,784,957.00 in share capital and CNY 2,135,638,801.10 in capital reserves[65] - The company reported a total liability of CNY 4,095,397,931.21, with current liabilities of CNY 3,287,886,851.79 and non-current liabilities of CNY 807,511,079.42[65] - The company has a short-term loan of CNY 585,374,469.54 and accounts payable of CNY 1,113,697,129.19[64] Cash Flow - The net cash flow from operating activities was negative at CNY -125,231,659.22, a decline of 13405.71% compared to the previous year[8] - Cash received from tax refunds was ¥21,730,516.41, an increase of 113.67% compared to the same period last year, primarily due to increased VAT refunds[18] - Cash paid for various taxes was ¥142,537,751.15, up 57.28% year-on-year, reflecting increased income and operating profit[18] - The net cash flow from operating activities for Q3 2020 was -281,758,306.64 CNY, compared to -169,992,817.64 CNY in Q3 2019, indicating a decline in operational cash flow[56] - Total cash inflow from operating activities was 1,565,788,101.84 CNY, while cash outflow was 1,847,546,408.48 CNY, resulting in a net cash outflow of 281,758,306.64 CNY[56] Shareholder Information - The company reported a total of 22,701 common shareholders at the end of the reporting period[12] - The largest shareholder, Changzhou Dezhe Industrial Investment Co., Ltd., holds 35.26% of the shares, amounting to 275,572,256 shares[12] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[13] Investment and Expenses - Research and development expenses increased to CNY 23,329,453.91 from CNY 10,382,751.23 year-over-year[39] - Financial expenses for the reporting period totaled ¥54,132,690.37, a rise of 60.77% year-on-year, mainly due to increased interest expenses from the issuance of convertible bonds[17] - Investment income for the reporting period was ¥24,822,521.56, a staggering increase of 73913.90% year-on-year, resulting from the disposal of non-core assets[17] - Research and development expenses for the third quarter amounted to CNY 13,733,988.29, an increase from CNY 8,533,204.48 in the same period last year, representing a growth of approximately 61.5%[43] Market Strategy - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency[39]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥1,286,491,954.16, representing a 14.65% increase compared to ¥1,122,092,026.21 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥163,087,547.63, up 4.09% from ¥156,685,474.97 in the previous year[18]. - The operating profit for the same period was ¥194,140,750.43, reflecting a growth of 15.61% compared to the previous year[39]. - Basic earnings per share rose to ¥0.21, reflecting a 5.00% increase from ¥0.20 in the same period last year[18]. - The total comprehensive income for the first half of 2020 was ¥164,591,354.86, compared to ¥153,196,131.30 in the same period of 2019, reflecting an increase of 7.5%[191]. - The company reported a total revenue of 5,191 million yuan for the period, with no significant litigation or arbitration matters affecting its financials[100]. Cash Flow and Investments - The net cash flow from operating activities was -¥156,526,647.42, an improvement of 8.43% compared to -¥170,934,005.05 in the same period last year[18]. - The net cash flow from financing activities was 901,149,238.89 CNY, compared to 75,292,580.17 CNY in the first half of 2019, reflecting a substantial increase[198]. - The company reported a significant increase in cash flow from financing activities, amounting to ¥901,149,238.89, a staggering increase of 1,096.86% due to the issuance of convertible bonds[47]. - The ending balance of cash and cash equivalents was 1,140,373,702.11 CNY, up from 420,237,755.31 CNY at the end of the first half of 2019, indicating a growth of approximately 171.4%[198]. - The company utilized 5.12 million RMB of raised funds for project material procurement and subcontracting during the reporting period[167]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥9,155,056,479.18, a 12.96% increase from ¥8,104,684,132.40 at the end of the previous year[18]. - Total liabilities increased to CNY 4,949,064,728.72 from CNY 4,095,397,931.21, marking a rise of approximately 21%[182]. - The company's equity attributable to shareholders reached CNY 4,097,977,564.98, an increase from CNY 3,897,272,802.89, representing a growth of about 5%[183]. - Cash and cash equivalents increased significantly to CNY 1,094,574,734.90 from CNY 453,868,344.49, showing a growth of approximately 141%[185]. Business Operations and Strategy - The company focuses on "urban and rural organic waste resource utilization" and "industrial energy-saving and environmental protection" in response to national environmental policies[25]. - The main business segments include leachate treatment, wet waste treatment, biogas and biomass gas business, industrial energy-saving and VOCs governance, and industrial wastewater treatment[25]. - The company has undertaken nearly 300 leachate treatment projects across the country, improving the liquid recovery rate and reducing overall treatment costs through continuous process optimization[30]. - The company aims to strengthen its position as an expert in organic waste resource utilization, focusing on practical technology and economic efficiency[30]. - The company has initiated a digital transformation strategy, establishing a data center and big data cloud platform to enhance operational efficiency and service quality[43]. Risk Management and Compliance - The company has outlined various risk factors and corresponding countermeasures in the report[5]. - The company faces significant risks due to the ongoing COVID-19 pandemic, which has severely impacted the global economy and business operations[84]. - The company is committed to improving its accounts receivable management to mitigate risks associated with high receivables, ensuring timely cash flow[86]. - The company has a commitment to avoid conflicts of interest and ensure compliance with related party transactions[94]. Shareholder Information - The total number of shares after the recent changes is 783,784,900, with 93.03% being unrestricted shares[137]. - The largest shareholder, Changzhou Dezhe Industrial Investment Co., Ltd., holds 35.16% of the shares, totaling 275,572,256 shares[145]. - The company distributed a cash dividend of RMB 1 per 10 shares to all shareholders based on a total share capital of 783,784,957 shares[154]. Environmental Compliance - The company has established multiple pollution control facilities, including a pre-treatment comprehensive pool with a capacity of 60,000 tons/day, which has been operational since 2015[123]. - The company’s wastewater treatment meets the Class A standard for urban sewage treatment plants, ensuring compliance with environmental regulations[122]. - The company has received environmental impact assessment approvals from local authorities, confirming the adequacy of its pollution control measures[127]. - The company has reported no exceedances in pollutant discharge limits across various monitored pollutants, including ammonia nitrogen and total phosphorus[120].

Financial Performance - Total revenue for the first quarter was ¥520,943,916.96, an increase of 10.16% compared to ¥472,912,720.14 in the same period last year[8]. - Net profit attributable to shareholders decreased by 34.82% to ¥47,504,998.11 from ¥72,884,882.33 year-on-year[8]. - Net profit after deducting non-recurring gains and losses was ¥43,699,595.04, down 33.39% from ¥65,604,896.56 in the previous year[8]. - Total profit for the reporting period was ¥56,176,061.61, a decrease of 30.32% compared to the same period last year, with net profit at ¥45,401,746.94, down 35.3% due to delays in resuming work caused by the pandemic[16]. - Basic and diluted earnings per share both decreased by 33.33% to ¥0.06 from ¥0.09 year-on-year[8]. - The company reported a total operating cost of CNY 487,012,485.97, up from CNY 405,836,388.22, which is an increase of about 20.0%[50]. - The total comprehensive income for the quarter was CNY 45,401,746.94, down from CNY 67,476,973.74, indicating a decrease of approximately 32.7%[52]. Cash Flow and Liquidity - The net cash flow from operating activities improved by 10.22%, reaching -¥51,317,815.41 compared to -¥57,156,985.17 in the same period last year[8]. - Cash received from tax refunds was ¥12,036,061.23, up 226.9% year-on-year, attributed to increased VAT refunds[17]. - Cash received related to operating activities decreased by 81.24% to ¥10,879,288.97, mainly due to a reduction in government subsidies[17]. - The net cash flow from operating activities was -51,317,815.41 yuan, an improvement from -57,156,985.17 yuan in the previous period, indicating a reduction in cash outflow[58]. - Total cash inflow from operating activities was 494,905,353.04 yuan, down from 575,702,509.41 yuan, reflecting a decrease of approximately 14.05%[56]. - The ending balance of cash and cash equivalents was 501,577,950.46 yuan, down from 638,957,092.61 yuan, reflecting a decrease of about 21.4%[59]. Assets and Liabilities - Total assets at the end of the reporting period were ¥8,083,026,623.32, a slight decrease of 0.27% from ¥8,104,684,132.40 at the end of the previous year[8]. - Current liabilities totaled CNY 3,225,465,864.72, down from CNY 3,287,886,851.79, a decrease of approximately 1.9%[43]. - Total liabilities were CNY 4,095,397,931.21, with current liabilities at CNY 3,287,886,851.79[67]. - The company's total assets stood at CNY 8,104,684,132.40, with non-current assets totaling CNY 3,750,205,405.81[66]. - The equity attributable to shareholders was CNY 3,897,272,802.89, with total equity at CNY 4,009,286,201.19[67]. Investments and Projects - The company has committed to various investment projects, with the first project achieving a 100% investment completion rate[32]. - The company has reported that the investment in Hanfeng Technology has reached 24.62327 million yuan, with a project feasibility confirmed[32]. - The company has also invested 10.49253 million yuan in Dole Refrigeration, with the project feasibility confirmed[32]. - The company has a project in Taizhou for organic waste recycling, with 61.05% of the investment completed by the end of 2020[32]. - The cumulative amount of raised funds used for projects reached 1,124.4627 million yuan, with a cumulative change in the purpose of raised funds totaling 972.5662 million yuan, accounting for 86.64%[32]. Shareholder Information - The total number of shareholders at the end of the reporting period was 22,785[12]. - The company reported no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[29]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[37]. Regulatory and Compliance - The company received approval from the China Securities Regulatory Commission for the public issuance of convertible bonds on January 17, 2020[27]. - The company is actively addressing feedback from the China Securities Regulatory Commission regarding its convertible bond issuance[27]. - The company has not reported any violations regarding external guarantees during the reporting period[36]. Research and Development - Research and development expenses increased to CNY 21,525,313.60 from CNY 19,309,691.28, showing a growth of approximately 11.5%[50]. - The company is focusing on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[44].

Financial Performance - The company's operating revenue for 2019 was CNY 2,730,648,145.74, representing a 32.24% increase compared to CNY 2,064,843,723.91 in 2018[21]. - The net profit attributable to shareholders for 2019 was CNY 316,710,725.54, a 36.30% increase from CNY 232,366,860.28 in 2018[21]. - The net profit after deducting non-recurring gains and losses was CNY 298,884,197.12, up 37.84% from CNY 216,834,636.73 in 2018[21]. - The total assets at the end of 2019 were CNY 8,104,684,132.40, a 12.37% increase from CNY 7,212,673,349.94 at the end of 2018[21]. - The basic earnings per share for 2019 were CNY 0.40, a 37.93% increase from CNY 0.29 in 2018[21]. - The net cash flow from operating activities for 2019 was CNY 195,457,194.33, a decrease of 20.58% compared to CNY 246,095,084.10 in 2018[21]. - The company's operating profit reached ¥365,933,986.68, up 29.45% year-on-year[53]. - The environmental engineering segment contributed ¥1,700,828,868.56, accounting for 62.29% of total revenue, with a growth of 53.79%[63]. - The company's revenue for the environmental protection sector reached ¥2,730,648,145.74, with a year-on-year increase of 30.51%[65]. - The gross profit margin for the environmental protection sector decreased by 2.04% to 30.51% compared to the previous year[65]. Cash Flow Management - The company is committed to enhancing the management of accounts receivable to improve cash flow and mitigate bad debt losses[7]. - The company aims to enhance cash flow by focusing on accounts receivable collection, with strict assessments of annual collection targets for each business unit[121]. - The company improved its cash flow management, focusing on the collection of receivables from older projects to mitigate financial risks[56]. - Operating cash inflow reached ¥2,670,761,718.56, a 56.01% increase compared to the previous year, driven by improved collection efforts and increased project payments[82]. - Operating cash outflow was ¥2,475,304,524.23, up 68.86% year-on-year, primarily due to increased procurement expenses and higher employee compensation[82]. Technological Innovation - The company emphasizes the importance of technological innovation and aims to maintain its competitive edge in funding, R&D, engineering experience, talent reserve, and brand building[5]. - The company emphasizes digital transformation and continuous innovation to enhance its competitive edge in the environmental protection industry[31]. - The company is developing a low-energy, anti-scaling technology for leachate treatment, which aims to enhance market competitiveness in the water treatment sector[76]. - The company has completed the development of a composting technology for kitchen waste, aiming to create high-quality organic fertilizers and enhance resource utilization[77]. - The company is actively developing anaerobic digestion technology for kitchen waste, which is expected to become a new growth point for the business[77]. Market Expansion - The company faces intensified competition in the environmental protection industry due to the entry of strong state-owned enterprises, which may pressure business expansion[5]. - The company aims to optimize its business layout and improve management efficiency to enhance market competitiveness and mitigate operational risks[5]. - The company reported a revenue from the North China region surged by 212.57% to ¥487,339,877.56, indicating significant market expansion[63]. - The company plans to leverage its subsidiaries to expand its industrial environmental protection market and enhance operational performance[42]. - The company is actively expanding its market presence through new projects and partnerships, including BOT projects in Haikou and Jingmen[88]. Investment and Financing - The company plans to issue convertible bonds to fund projects related to its main business, including the construction of an industrial research institute and an environmental smart cloud platform[58]. - The total amount of raised funds was ¥1,140,000,000, with a net amount of ¥1,122,566,200 after deducting issuance costs[91]. - The company has committed to using the remaining raised funds for new investment projects related to its main business[105]. - The company has invested 20,268.24 million yuan in various projects since January 2015, with 19,900.00 million yuan being replaced by raised funds as of July 12, 2016[103]. - The company plans to allocate 30,000 million RMB of idle raised funds to purchase low-risk, liquid financial products to enhance investment returns[108]. Subsidiaries and Acquisitions - The company is focused on integrating and managing acquired subsidiaries to realize synergies and improve overall performance[6]. - The company added three new subsidiaries during the reporting period, expanding its operational footprint[70]. - The company plans to terminate its cooperation on the Jin Tan water supply and pipeline renovation project, transferring its 49% stake in Jin Tan Water to Jin Tan Zhong He for a consideration of CNY 49 million[93]. - The company has established a talent development system, enhancing employee skills and providing diverse career development platforms[50]. - The company has improved its group management mechanism, enhancing internal communication and collaboration among group members[50]. Environmental Compliance - The company and its subsidiaries are classified as key pollutant discharge units by environmental protection authorities[168]. - The company reported no exceedances in pollutant discharge limits for COD, ammonia nitrogen, total phosphorus, and total nitrogen[168]. - The company has implemented various pollution prevention facilities, including a pre-treatment comprehensive pool with a capacity of 60,000 tons/day, operational since 2015[172]. - The company’s wastewater treatment processes include multiple stages, such as denitrification and ultrafiltration, ensuring compliance with GB16889-2008 standards[173]. - The company has established a comprehensive environmental monitoring plan, ensuring compliance with local environmental regulations[175]. Shareholder Returns - The company plans to distribute a cash dividend of 1 RMB per 10 shares to all shareholders, based on a total of 783,784,957 shares[9]. - The company reported a total distributable profit of RMB 371,644,321.92 for 2019, with cash dividends accounting for 100% of the profit distribution[129]. - The cash dividend for 2019 increased by 100% compared to 2018, reflecting a positive growth trend in profitability[130]. - The company has maintained a consistent dividend payout policy over the past three years, reflecting its commitment to returning value to shareholders[132]. - The cash dividend distribution plan is based on a total of 783,784,957 shares[130].

Financial Performance - Operating revenue for the reporting period reached CNY 629,708,224.91, a 50.76% increase year-on-year[7] - Net profit attributable to shareholders increased by 41.00% to CNY 71,010,526.73 for the reporting period[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses rose by 40.72% to CNY 67,857,816.62[7] - Basic earnings per share increased by 40.90% to CNY 0.0906[7] - Revenue for the year-to-date reached CNY 1,751,800,251.12, a 33.42% increase compared to the same period last year[20] - Net profit attributable to the parent company was CNY 227,696,001.70, reflecting a 38.09% increase year-over-year[22] - The total operating revenue for Q3 2019 was CNY 629,708,224.91, an increase of 50.7% compared to CNY 417,677,191.34 in the same period last year[42] - The net profit attributable to the parent company was CNY 71,010,526.73, up 40.9% from CNY 50,361,366.91 in Q3 2018[43] - The company's total revenue for the year-to-date period was ¥1,751,800,251.12, an increase of 33.5% from ¥1,313,022,100.69 in the previous year[49] Asset Management - Total assets increased by 6.87% to CNY 7,708,180,688.09 compared to the end of the previous year[7] - As of the end of the reporting period, accounts receivable increased by 134.24% to CNY 291,921,275.48 due to increased prepayments for construction projects[19] - Inventory increased by 31.55% to CNY 1,552,052,909.75, attributed to a rise in completed but unbilled assets from new engineering projects[19] - Total current assets as of September 30, 2019, amounted to ¥4,187,915,871.14, up from ¥3,808,884,966.86 at the end of 2018[33] - Total assets increased to ¥7,708,180,688.09 as of September 30, 2019, compared to ¥7,212,673,349.94 at the end of 2018[33] - Non-current assets totaled ¥3,520,264,816.95 as of September 30, 2019, compared to ¥3,403,788,383.08 at the end of 2018[33] - The company's total liabilities increased to CNY 2,334,982,577.81 from CNY 2,176,632,014.42, representing a rise of 7.3%[39] - The company's total current liabilities included accounts payable of CNY 956,114,036.32 and tax payable of CNY 244,606,409.12[68] Cash Flow and Financing - The net cash flow from operating activities for the year-to-date was CNY -169,992,817.64, a decrease of 64.28%[7] - Cash received from sales increased by 70.78% to CNY 1,544,700,025.08, driven by improved collection efforts[22] - Cash paid for purchasing goods and services rose by 89.93% to CNY 1,334,389,448.18, driven by increased payments for new projects[22] - Cash received from borrowings increased by 111.24% year-on-year, reaching ¥962,088,275.84, primarily due to loan rollovers and an increase in bank loan balances[23] - Cash received from other financing activities surged by 1011.07% year-on-year to ¥59,650,353.49, mainly from increased returned bank deposits[23] - The company reported a total cash inflow from financing activities of 1,023,948,629.33 CNY, up from 460,818,750.00 CNY in the previous year, showing increased borrowing activity[60] - The net cash flow from financing activities improved to 180,681,842.63 CNY from -232,583,488.94 CNY, suggesting better management of financing sources[60] Shareholder Information - The company had a total of 22,547 common shareholders at the end of the reporting period[11] - The largest shareholder, Changzhou Dezhe Industrial Investment Co., Ltd., held 41.53% of the shares[11] - The company reported no significant changes in the status of its major shareholders during the reporting period[12] Expenses and Costs - Management expenses increased by 43.64% to CNY 135,664,576.81, mainly due to a rise in personnel costs[20] - Cash paid to employees increased by 38.92% year-on-year, totaling ¥205,413,903.31 due to an increase in workforce[23] - Cash paid for other operating activities rose by 53.39% year-on-year, amounting to ¥228,339,061.20, attributed to increased office and travel expenses as well as higher deposits due to increased orders[23] - The company's total operating costs for the year-to-date period amounted to ¥1,499,974,020.22, an increase of 31.7% from ¥1,138,957,361.64[49] - The company's financial expenses increased to ¥30,230,409.82 from ¥25,971,899.77, reflecting an increase of approximately 16.5%[55] Research and Development - Research and development expenses decreased to CNY 10,382,751.23 from CNY 14,751,089.72, a decline of 29.5% year-over-year[42] - Research and development expenses for Q3 2019 were ¥8,533,204.48, up 47.5% from ¥5,792,401.15 in the previous year[46] - Research and development expenses rose to ¥23,940,978.65, up from ¥18,046,242.33, indicating a year-over-year increase of about 32.5%[55]

Financial Performance - Total revenue for the first half of 2019 reached ¥1,122,092,026.21, representing a 25.33% increase compared to ¥895,344,909.35 in the same period last year[20]. - Net profit attributable to shareholders was ¥156,685,474.97, up 45.26% from ¥107,863,280.87 year-on-year[20]. - The net profit after deducting non-recurring gains and losses was ¥148,034,213.78, reflecting a 50.52% increase from ¥98,349,013.75 in the previous year[20]. - Basic earnings per share increased to ¥0.200, a rise of 44.93% compared to ¥0.138 in the same period last year[20]. - The operating profit for the same period was ¥167,932,555.71, reflecting a growth of 34.30% compared to the previous year[42]. - The company achieved operating revenue of ¥1,122,092,026.21, a year-on-year increase of 25.33%[42]. - The company reported a total comprehensive income of CNY 153,196,131.30, up from CNY 112,358,492.49 in the previous year, reflecting an increase of 36.4%[171]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥7,416,074,426.45, a 2.82% increase from ¥7,212,673,349.94 at the end of the previous year[20]. - Total liabilities as of June 30, 2019, were CNY 3,580,829,613.13, compared to CNY 3,488,594,321.01 at the end of 2018, showing an increase of about 2.65%[162]. - The company's equity attributable to shareholders reached CNY 3,735,480,147.52, up from CNY 3,618,974,456.09, indicating a growth of approximately 3.23%[162]. - Accounts receivable increased to RMB 1,293.32 million, accounting for 17.44% of total assets, up from 15.81% in the previous year[54]. - Short-term loans increased significantly to RMB 744.35 million, which is 10.04% of total assets, up from 1.68% in the previous year[54]. Cash Flow - The net cash flow from operating activities was negative at -¥170,934,005.05, worsening by 58.62% compared to -¥107,763,368.72 in the same period last year[20]. - The net cash flow from financing activities improved by 132.04%, reaching RMB 75,292,580.17, due to increased bank loans[50]. - The company's cash and cash equivalents decreased to CNY 743,212,793.84 from CNY 1,102,666,870.20, reflecting a decline of approximately 32.60%[159]. - The net cash flow from financing activities was positive at approximately ¥75.29 million in the first half of 2019, a recovery from a negative cash flow of -¥235.01 million in the same period of 2018[179]. Business Operations and Strategy - The company focuses on the resource utilization and harmless treatment of organic waste, aiming to provide high-cost performance engineering technology and operational services[27]. - The company has developed various business models including EPC, O&M, EMC, BOT, and equipment sales, with EPC and O&M being the primary models for new orders in the first half of 2019[28]. - The company has been actively developing its research and development capabilities, establishing a group-level industrial research institute to enhance innovation and resource allocation[45]. - The company is focusing on expanding its market share in waste leachate treatment and kitchen waste processing, leveraging favorable government policies[43]. - The company has established a comprehensive service model covering wastewater treatment, solid waste treatment, and industrial energy-saving solutions, with over 100 projects undertaken[37]. Research and Development - Research and development investment rose by 48.24% to RMB 38,247,946.19, reflecting the company's commitment to innovation[49]. - The company has strengthened its existing business by optimizing processes and developing new technologies in the oil and gas recovery sector[37]. - The company has a strong technological advantage in leachate treatment, having completed over 200 projects and continuously optimizing treatment processes to improve recovery rates and reduce costs[32]. Investments and Projects - The company plans to allocate a total of RMB 134.39 million for waste management and engineering projects, with RMB 84.39 million for concession projects and RMB 50 million for engineering projects[61]. - The company has committed 21,260 million CNY to repay non-public bonds, achieving a 100% completion rate[67]. - The company has initiated the expansion of the Changshu Second Household Waste Incineration Power Plant, with a projected investment of 1,630 million CNY[67]. - The company has reported a total investment of 112,256 million CNY for various projects, with a completion rate of 100% for some initiatives[67]. Shareholder and Equity Information - The company has completed the repurchase of 30,327,873 shares, accounting for 3.73% of the total share capital, with a total transaction amount of approximately ¥155.41 million[134]. - The largest shareholder, Changzhou Dezhe Industrial Investment Co., Ltd., holds 41.53% of shares, totaling 325,472,256 shares[143]. - The total number of shareholders is not specified, but the report indicates a diverse ownership structure among executives[141]. - The company has a significant number of shares held by executives, indicating strong management alignment with shareholder interests[140]. Compliance and Governance - The company has no major litigation or arbitration matters during the reporting period[98]. - The company has not engaged in any significant related party transactions during the reporting period[102]. - The company has established a long-term commitment to avoid competition and regulate related transactions[95]. - The company has ensured that commitments made to minority shareholders are fulfilled in a timely manner[95].

Financial Performance - Total operating revenue for Q1 2019 reached ¥472,912,720.14, an increase of 42.06% compared to ¥332,896,150.73 in the same period last year[8] - Net profit attributable to shareholders was ¥72,884,882.33, representing a growth of 53.40% from ¥47,512,627.70 year-on-year[8] - Net profit excluding non-recurring gains and losses was ¥65,604,896.56, up 42.66% from ¥45,986,083.29 in the previous year[8] - Basic earnings per share increased by 50.00% to ¥0.09 from ¥0.06 in the same period last year[8] - The total profit reached ¥80,615,393.06, an increase of 48.78% compared to the same period last year[25] - Net profit for Q1 2019 reached CNY 70,177,150.53, marking a 52.66% increase compared to the previous year[22] - The company reported a comprehensive income total of CNY 67,476,973.74 for Q1 2019, compared to CNY 45,709,415.77 in Q1 2018[56] Cash Flow and Assets - The net cash flow from operating activities improved by 37.21%, reaching -¥57,156,985.17 compared to -¥91,029,060.60 in the previous year[8] - Cash received from sales and services was CNY 514,042,524.16, up 107.85% year-on-year, due to improved collection efforts[23] - The company reported a 436.65% increase in cash received from other operating activities, totaling CNY 57,978,098.58, primarily from government subsidies[23] - The total assets at the end of the reporting period were ¥7,322,963,683.91, a 1.53% increase from ¥7,212,673,349.94 at the end of the previous year[8] - The company's current assets totaled ¥3,916,212,953.34, compared to ¥3,808,884,966.86 at the end of 2018, reflecting a growth of approximately 2.8%[44] - The cash and cash equivalents decreased to ¥975,857,349.07 from ¥1,102,666,870.20, representing a decline of about 11.5%[44] Liabilities and Equity - Total liabilities amounted to ¥3,532,643,818.28, up from ¥3,488,594,321.01, reflecting a growth of approximately 1.3%[46] - The company's equity attributable to shareholders reached ¥3,687,923,024.59, compared to ¥3,618,974,456.09 at the end of 2018, showing an increase of about 1.9%[47] - The company's total equity as of Q1 2019 was CNY 3,324,136,384.39, slightly up from CNY 3,293,272,152.66 in the previous year[52] Operational Efficiency and Management - The company is actively enhancing its management efficiency through a newly established group management system[25] - The company plans to strengthen its financial management and risk control in response to potential financial risks from acquisitions[29] - The company is focusing on timely collection of accounts receivable to mitigate risks associated with high balances[29] - The company is enhancing its management structure and processes to improve operational efficiency and mitigate management risks[31] Research and Development - R&D expenses for the quarter were CNY 19,309,691.28, reflecting a 41.36% increase due to higher personnel costs and increased investment in research[21] - Research and development expenses for Q1 2019 were CNY 19,309,691.28, an increase from CNY 13,556,301.73 in the same period last year[54] - The company aims to improve its core competitiveness by increasing R&D personnel and establishing an industrial research institute[27] Market Position and Competition - The company is facing increased competition in the environmental protection sector due to the entry of large state-owned enterprises[30] - The company is focusing on technological innovation and service optimization to maintain its competitive edge in the environmental protection industry[31] - The company plans to leverage existing brand and platform advantages to expand its market presence and drive business transformation[30] Project Management and Investments - The company signed 7 new EPC orders worth ¥197,784,500, with 12 orders on hand totaling ¥1,600,224,400[26] - The company achieved a project completion rate of 100% for the Tonglu County kitchen waste resource utilization project, with an investment of 1,000 million[37] - The company has a project completion rate of 79.41% for the Xi'an kitchen waste resource utilization project, with an investment of 3,000 million[38] - The investment in the Jintan water supply and pipeline renovation project was originally planned at 97,256.62 million, but the company has agreed to terminate its investment rights and obligations due to sufficient external funding being secured[38] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,961[12] - The company completed a share buyback of 30,327,873 shares, accounting for 3.73% of the total share capital, with a total transaction amount of approximately ¥155.41 million[34]

Financial Performance - The company's operating revenue for 2018 was CNY 2,064,843,723.91, representing a 45.64% increase compared to CNY 1,417,765,375.61 in 2017[23]. - The net profit attributable to shareholders for 2018 was CNY 232,366,860.28, a 67.53% increase from CNY 138,703,129.69 in 2017[23]. - The net cash flow from operating activities reached CNY 246,095,084.10, marking a significant increase of 277.34% compared to CNY 65,219,021.22 in 2017[23]. - The total assets at the end of 2018 amounted to CNY 7,212,673,349.94, which is a 17.48% increase from CNY 6,139,644,965.50 at the end of 2017[23]. - The company reported a basic earnings per share of CNY 0.29 for 2018, up 70.59% from CNY 0.17 in 2017[23]. - The net profit after deducting non-recurring gains and losses for 2018 was CNY 216,834,636.73, reflecting a 48.58% increase from CNY 145,936,922.75 in 2017[23]. - The company achieved operating revenue of CNY 2,064,843,723.91, a year-on-year increase of 45.64%[59]. - The operating profit for the same period was CNY 282,685,022.02, reflecting a growth of 51.39% compared to the previous year[59]. - The company reported a total of 437,464,820.41 CNY in sales from its top five customers, which constituted 21.19% of the annual total sales[78]. - The company reported a total project investment of 100,500.01 million, with 45,322.1 million utilized and 89,101.42 million remaining[116]. Investment and Acquisitions - The company has made substantial equity investments, including ¥32,550,000.00 in Guangzhou Yili Environmental Services, acquiring a 35% stake[97]. - The company has completed the acquisition of 49% equity in Changzhou Jintan Water Supply Co., Ltd. for RMB 49 million[103]. - The company plans to invest RMB 30,000 million of idle funds in safe, liquid principal-protected financial products to enhance investment returns[104]. - The company has allocated RMB 3,639.0145 million for the PPP project at Shenyang Daxin Landfill for leachate treatment[104]. - The company has invested RMB 20,000 million in Hanfeng Technology after the equity transfer was completed[103]. - The company has also allocated RMB 1,000 million for the resource utilization and harmless treatment of kitchen waste in Tonglu County[104]. - The company has successfully raised 4,900 million from the transfer of 49% equity in Jintan Water Supply Co., Ltd.[116]. - The company plans to invest 1,630 million in the Changshu second waste incineration power plant expansion project[116]. Risk Management - The company is facing financial risks associated with mergers and acquisitions, which may impact profitability if the acquired businesses do not meet expectations[6]. - Accounts receivable have increased, with a focus on managing this risk to avoid liquidity shortages and bad debt losses[8]. - The company aims to strengthen its financial management and risk control in response to the growing scale of operations and subsidiaries[11]. - The company acknowledges the competitive risks in the environmental industry due to changing government policies and increased competition from state-owned enterprises[9]. Technological Innovation and Development - The company emphasizes the importance of technological innovation and aims to maintain a competitive edge in the environmental protection industry[9]. - The company has established a research and development center to enhance technological innovation and strengthen its competitive edge[53]. - The company is actively developing kitchen waste resource utilization and harmless treatment technology, aiming to optimize organic loss rate, oil extraction rate, and biogas yield[83]. - The company has developed the EMBT technology for resource recovery and reduction of kitchen waste, with successful pilot projects in Hangzhou and Shaoxing[40]. - The company aims to enhance product quality while developing new technologies for low-concentration gas catalytic oxidation in various industries[44]. - The company is focusing on low-energy ammonia nitrogen leachate treatment technology, which can be applied in municipal wastewater and industrial wastewater projects[83]. Market Expansion and Business Strategy - The company is expanding its market presence and actively pursuing business transformation to enhance competitiveness[9]. - The company aims to strengthen its brand as an expert in organic waste resource utilization while providing high-cost performance engineering services[32]. - The company is positioned to benefit from the increasing demand for waste treatment solutions driven by stringent environmental regulations and government support[35]. - The company plans to leverage existing industrial environmental customer resources to expand its market presence in energy-saving and environmental protection services[45]. - The company has successfully expanded its overseas business by undertaking a solid waste disposal project in Thailand[60]. Shareholder Returns and Dividends - The company reported a profit distribution plan, proposing a cash dividend of 0.50 CNY per 10 shares based on a total of 783,784,957 shares[12]. - The cash dividend distribution plan for 2018 is to distribute RMB 0.50 per 10 shares, totaling RMB 39,189,247.85[145]. - The total cash dividend amount, including other methods, reached RMB 194,595,125.96, which accounts for 100% of the distributable profit[145]. - The cash dividend for 2018 represents 16.87% of the net profit attributable to shareholders[150]. - The company has maintained a consistent cash dividend policy, with a minimum of 20% of profits allocated for cash dividends during growth phases[145]. Environmental and Social Responsibility - The company has implemented a comprehensive emergency response plan for environmental incidents, filed with local environmental authorities[194]. - The company has established various pollution control facilities, including a pre-treatment comprehensive pool with a capacity of 60,000 tons per day, which is currently operating normally[193]. - The company has submitted an environmental impact report for the sewage treatment project and received approval from the local environmental protection bureau[194]. - The company has been actively monitoring its environmental impact and has registered its pollution source self-monitoring plan[195]. Corporate Governance and Compliance - The company has committed to minimizing and regulating related party transactions to protect the interests of itself and minority shareholders[153]. - The company has established a long-term effective non-competition agreement with key personnel to avoid conflicts of interest[152]. - The company has implemented strict compliance measures for related party transaction approvals and information disclosure obligations[153]. - The company has confirmed that there was no impairment of goodwill related to the acquisition of Hanfeng Technology[161]. - The company has confirmed that there was no impairment of goodwill related to the acquisition of Dole Refrigeration[163].

Financial Performance - Operating revenue for the reporting period was ¥417,677,191.34, representing a year-on-year increase of 40.96%[8] - Net profit attributable to shareholders was ¥50,361,366.91, up 20.64% year-on-year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥46,843,182.99, an increase of 11.68% compared to the same period last year[8] - Basic earnings per share for the reporting period was ¥0.06, reflecting a growth of 20.00%[8] - The total operating revenue for the third quarter was CNY 417,677,191.34, an increase of 40.9% compared to CNY 296,312,365.44 in the same period last year[48] - Net profit for the quarter reached CNY 48,363,618.26, representing a 10.5% increase from CNY 43,675,612.84 in the previous year[50] - Total operating revenue for the period reached CNY 1,313,022,100.69, a significant increase from CNY 843,882,331.78 in the previous period, representing a growth of approximately 55.6%[56] - Net profit for the period amounted to CNY 161,388,178.01, up from CNY 110,088,736.95 in the previous period, reflecting a growth of approximately 46.5%[58] Assets and Liabilities - Total assets at the end of the reporting period reached ¥6,571,216,276.11, an increase of 7.03% compared to the end of the previous year[8] - The company's total assets increased by 135.16% in prepayments, amounting to CNY 166,234,840.87, primarily due to increased construction projects[22] - Long-term equity investments rose by 133.22% to CNY 72,352,554.04, driven by new investments in Guangzhou Yinli and Zhongde Yuan[22] - The company's fixed assets increased by 31.69% to CNY 573,868,215.33, mainly due to the completion of assets at its subsidiary EMC[22] - Total assets increased from ¥6,139,644,965.50 to ¥6,571,216,276.11, marking a growth of about 7.0%[43] - Total liabilities rose from ¥2,396,747,694.56 to ¥2,793,824,988.42, which is an increase of approximately 16.6%[43] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥103,476,862.30, a decrease of 8.11%[8] - Cash received from sales and services was CNY 904,496,025.35, up 66.33% year-on-year, attributed to improved collection efforts and increased project scope[25] - The net cash flow from operating activities was negative at CNY -103,476,862.30, slightly worse than the previous year's negative CNY -95,714,586.52[63] - Cash inflow from investment activities was CNY 454,715,542.59, a substantial increase from CNY 104,916,319.17 in the prior year, reflecting a growth of about 332.5%[64] - The net cash flow from investment activities was CNY 98,309,645.35, a recovery from the previous year's negative CNY -234,891,311.67[64] - The cash and cash equivalents at the end of the period decreased by CNY 237,108,403.33, compared to a decrease of CNY 86,831,933.45 in the same period last year[64] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,469[12] - The largest shareholder, Changzhou Dezhe Industrial Investment Co., Ltd., held 39.98% of the shares[12] - The company reported a total of 25,465,172 shares issued for acquisition, with 6,235,977 shares currently locked up, representing approximately 24.5% of the total[18] - The total number of shares held by key executives includes 5,678,233 shares for Yang Wenjie, with 1,419,558 shares locked, accounting for about 25%[18] - The company has a significant number of shares under lock-up, with 2,493,657 shares for Zong Tao, also representing 25% of his total holdings[16] Expenses - The company's sales expenses surged by 117.01% to CNY 68,029,250.80, largely due to the increased operational scope of newly consolidated entities[24] - Research and development expenses increased to CNY 14,751,089.72, up 31.3% from CNY 11,249,410.44 year-on-year[48] - The company reported a significant increase in sales expenses, which reached CNY 24,806,004.09, up 84.6% from CNY 13,423,687.87[48] Other Financial Metrics - The weighted average return on net assets was 1.37%, an increase of 0.20% compared to the previous year[8] - Other comprehensive income after tax was CNY 1,620,917.06, compared to CNY 222,283.14 in the previous year, reflecting a substantial increase[50] - The company reported a tax expense of CNY 23,605,194.69 for the period, compared to CNY 18,648,029.36 in the previous period, which is an increase of about 26.5%[58] Future Outlook - The company plans to repurchase shares with a budget between CNY 10 million and CNY 20 million to enhance shareholder value and investor confidence[29] - The company has not indicated any significant changes in net profit expectations for the upcoming reporting period[35]

Financial Performance - Total revenue for the first half of 2018 reached ¥895,344,909.35, representing a 63.51% increase compared to ¥547,569,966.34 in the same period last year[18]. - Net profit attributable to shareholders was ¥107,863,280.87, up 53.78% from ¥70,142,133.02 year-on-year[18]. - The net profit after deducting non-recurring gains and losses was ¥98,349,013.75, reflecting a 46.36% increase from ¥67,197,834.25 in the previous year[18]. - Basic earnings per share increased to ¥0.13, a rise of 44.44% compared to ¥0.09 in the same period last year[18]. - The company achieved operating revenue of ¥895,344,909.35, a year-on-year increase of 63.51%[43]. - The net profit attributable to shareholders reached ¥107,863,280.87, reflecting a growth of 53.78% compared to the previous year[43]. - The company reported a total revenue of 112,256.99 million CNY for the first half of 2018, with a net profit of 28,468.3 million CNY[70]. - The net profit for the first half of 2018 reached CNY 23,091,246.45, representing a growth of 25.0% from CNY 18,338,244.16 in the previous year[168]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥6,190,887,867.67, a slight increase of 0.83% from ¥6,139,644,965.50 at the end of the previous year[18]. - Net assets attributable to shareholders rose to ¥3,661,880,544.75, marking a 1.45% increase from ¥3,609,374,063.94 at the end of the last year[18]. - The company's total current assets decreased from CNY 3,523,450,429.85 to CNY 3,256,145,747.79, a decline of approximately 7.6%[153]. - Total liabilities increased from CNY 2,396,747,694.56 to CNY 2,413,523,901.06, a rise of about 0.7%[156]. - The company's total assets slightly increased from CNY 6,139,644,965.50 to CNY 6,190,887,867.67, showing a growth of approximately 0.8%[156]. - The total equity attributable to the owners of the parent company rose from CNY 3,609,374,063.94 to CNY 3,661,880,544.75, an increase of about 1.5%[156]. Cash Flow - The net cash flow from operating activities was -¥107,763,368.72, worsening by 105.07% compared to -¥52,550,139.15 in the same period last year[18]. - The net cash flow from investment activities improved significantly to ¥80,226,998.83, a 145.64% increase, due to the maturity of short-term financial products[48]. - The company reported a net cash flow from financing activities of -¥235,010,523.52, a decrease of 278.73%, largely due to repayment of private placement bonds and increased dividend payments[48]. - The cash and cash equivalents decreased by 175.59% to -¥263,079,299.16, reflecting ongoing investments in fundraising projects[48]. - The cash flow from operating activities showed a net outflow of CNY 107,763,368.72, worsening from a net outflow of CNY 52,550,139.15 in the previous year[171]. - The cash flow from investment activities generated a net inflow of CNY 80,226,998.83, compared to a net outflow of CNY 175,778,261.98 in the same period last year[171]. - The total cash and cash equivalents at the end of the period were CNY 679,885,057.03, down from CNY 1,323,862,828.09 at the end of the previous year[172]. Investments and Projects - The company has ongoing construction projects in Shaoxing, Tonglu, and Xi'an for kitchen waste BOT, indicating active expansion in its project portfolio[29]. - The company has developed the EMBT technology for waste treatment, with a pilot project operational in Hangzhou and plans for further implementation in Shaoxing[35]. - The company has invested 7 million yuan in equity assets during the reporting period[29]. - The company secured new orders totaling ¥75,853.19 million for waste liquid treatment, kitchen waste treatment, and sewage treatment projects during the reporting period[42]. - The company has allocated RMB 134.39 million from raised funds for waste management projects, including RMB 84.39 million for concession projects and RMB 50 million for engineering projects[65]. - The company has committed RMB 30.76 million from the non-public offering to repay bonds and bank loans, with RMB 21.26 million already repaid for private bonds and RMB 4 million for bank loans[66]. Subsidiaries and Acquisitions - The company completed the acquisition of a 40% stake in Jinyuan Machinery, which has now become a wholly-owned subsidiary, enhancing its manufacturing capabilities[43]. - The company’s subsidiary, Hangen Environment, has achieved advanced domestic technology levels in biogas projects, focusing on optimizing existing processes and developing new ones to enhance competitiveness[34]. - The company’s subsidiary, Hanfeng Technology, operates numerous energy-saving projects in high-energy-consuming industries, demonstrating its leadership in the industrial energy-saving sector[34]. - The company’s subsidiary, Dole Refrigeration, leads in oil and gas recovery technology, contributing to the establishment of industry standards[34]. - The company has established a long-term cooperative relationship with clients through its extensive experience in waste liquid and sewage treatment projects[37]. Risk Factors and Management - The report highlights various risk factors and corresponding mitigation strategies[4]. - The company is facing increased competition in the environmental protection industry, influenced by government policies and the entry of large state-owned enterprises into the market[82]. - The company is transitioning towards an integrated investment and operation model in the environmental sector, which may involve complex project management risks[84]. - The company is actively pursuing mergers and acquisitions to expand its business, which introduces financial risks and requires stringent management of acquired entities[85]. - The company has a high balance of accounts receivable, which poses a risk of liquidity shortages; measures are being implemented to improve collection efforts[83]. Shareholder and Governance - The company plans to implement a share repurchase program to enhance shareholder value and investor confidence[45]. - The company did not distribute cash dividends or issue new shares during the reporting period, indicating a focus on reinvestment[90]. - The company has fulfilled its commitments related to shareholding and asset restructuring, ensuring compliance with regulatory requirements[91]. - The company has committed to timely fulfillment of its commitments to minority shareholders[97]. - The company has established measures to minimize and regulate related party transactions during the period of being a related party[93]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[118]. - The total COD emissions from the company were 1,095 tons per year, with a discharge concentration of ≤50 mg/L, complying with Class A standards[119]. - The company has implemented various pollution control facilities, including a pre-treatment comprehensive pool with a capacity of 60,000 tons per day, operational since 2015[120]. - The company has established an emergency response plan for environmental incidents, submitted to local environmental protection authorities for record[121]. - The company has been actively monitoring its pollution sources according to the established self-monitoring plan[121].