天壕环境股份有限公司 2020 年第三季度报告全文 天壕环境股份有限公司 2020 年第三季度报告 2020 年 10 月 1 天壕环境股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人陈作涛、主管会计工作负责人李江冰及会计机构负责人(会计主 管人员)刘彦山声明：保证季度报告中财务报表的真实、准确、完整。 2 天壕环境股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 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 | --- | --- | --- | --- | --- | |-----------------------------------------------------|-------------------------------|-------------------------|------------------|--------- ...

天壕环境股份有限公司 2020 年半年度报告全文 天壕环境股份有限公司 2020 年半年度报告 2020 年 08 月 1 天壕环境股份有限公司 2020 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别 和连带的法律责任。 公司负责人陈作涛、主管会计工作负责人李江冰及会计机构负责人(会计主 管人员)刘彦山声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 （1）天然气定价模式如出现调整带来的业绩波动风险 公司燃气板块主营业务包括城市燃气供应，即从上游采购天然气和煤层气 销售给下游客户。2017 年中共中央、国务院印发了《关于深化石油天然气体制 改革的若干意见》，提出天然气行业管网设施开放、配气管网成本监审、非居民 价格放开等改革任务，明确了"准许成本+合理收益"的定价机制，气源和销售价 格由市场形成。公司在业务区域内持有燃气特许经营权，形成了一定的自然垄 断，因此公司对上下游具有一定议价能力。如果国家按照上述要求对天然气定 价机制 ...

天壕环境股份有限公司 2020 年第一季度报告全文 天壕环境股份有限公司 2020 年第一季度报告 2020 年 04 月 1 天壕环境股份有限公司 2020 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人陈作涛、主管会计工作负责人李江冰及会计机构负责人(会计主 管人员)刘彦山声明：保证季度报告中财务报表的真实、准确、完整。 2 天壕环境股份有限公司 2020 年第一季度报告全文 第二节 公司基本情况 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 | 上年同期 | ...

天壕环境股份有限公司 2019 年年度报告全文 天壕环境股份有限公司 2019 年年度报告 2020 年 04 月 1 天壕环境股份有限公司 2019 年年度报告全文 第一节重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连 带的法律责任。 公司负责人陈作涛、主管会计工作负责人李江冰及会计机构负责人(会计主 管人员)刘彦山声明：保证年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 公司需遵守《深圳证券交易所创业板行业信息披露指引第 4 号——上市公 司从事节能环保服务业务》的披露要求 （1）天然气定价模式如出现调整带来的业绩波动风险 公司燃气板块主营 业务包括城市燃气供应，即从上游采购天然气和煤层气销售给下游客户。2017 年中共中央、国务院印发了《关于深化石油天然气体制改革的若干意见》，提出 天然气行业管网设施开放、配气管网成本监审、非居民价格放开等改革任务， 明确了"准许成本+合理收益"的定价机制，气源和销售价格由市场形成。公司在 业务区域内持有燃气特许经营权，形成了 ...

天壕环境股份有限公司 2019 年第三季度报告全文 天壕环境股份有限公司 2019 年第三季度报告 2019 年 10 月 1 天壕环境股份有限公司 2019 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人陈作涛、主管会计工作负责人李江冰及会计机构负责人(会计主 管人员)刘彦山声明：保证季度报告中财务报表的真实、准确、完整。 2 天壕环境股份有限公司 2019 年第三季度报告全文 第二节 公司基本情况 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 | --- | --- | --- | --- | --- | |-----------------------------------------------------|------------------|-------------------------|------------------|---------------------- ...

Financial Performance - Total revenue for the reporting period was CNY 811,500,761.13, a decrease of 0.17% compared to the same period last year [28]. - Net profit attributable to shareholders increased by 11.39% to CNY 42,012,767.57 from CNY 37,717,501.39 in the previous year [28]. - Net profit after deducting non-recurring gains and losses surged by 233.66% to CNY 19,400,638.43, compared to a loss of CNY 14,514,438.24 in the same period last year [28]. - Net cash flow from operating activities increased by 96.97% to CNY 214,009,291.61, up from CNY 108,650,666.70 [28]. - Basic earnings per share rose by 12.50% to CNY 0.0477, compared to CNY 0.0424 in the previous year [28]. - Total assets at the end of the reporting period were CNY 8,273,821,984.56, reflecting a 1.73% increase from CNY 8,132,947,694.53 at the end of the previous year [28]. - Net assets attributable to shareholders increased by 0.85% to CNY 3,495,448,984.78 from CNY 3,466,107,134.83 [28]. - The weighted average return on net assets was 1.20%, up from 1.08% in the previous year [28]. - The company reported no discrepancies between international and Chinese accounting standards for net profit and net assets during the reporting period [29]. Business Operations - The company operates in the energy-saving and environmental protection service industry, focusing on natural gas supply, water treatment, and waste heat power generation [36][37][38]. - The natural gas segment includes the development and utilization of coalbed methane resources, with operations in Shanxi and Hebei provinces [36]. - The water treatment segment provides comprehensive solutions for municipal and industrial water supply and wastewater treatment [37]. - The company engages in waste heat power generation projects, converting waste heat into electricity to reduce energy consumption for industrial partners [38][39]. - The company’s revenue model includes income from gas sales, pipeline transportation fees, and sales of gas-related equipment [42]. - The company aims to expand its market presence by increasing the natural gas supply and enhancing service offerings to industrial clients [42]. - The company’s subsidiary, Saino Water, generates revenue through providing comprehensive technical solutions and engineering services for wastewater treatment plants, with a focus on membrane products and core equipment sales [43]. - The company’s membrane production utilizes cutting-edge phase separation technology, with all key production processes developed in-house to maintain quality and proprietary technology [44]. Market Trends and Risks - The company has significant reliance on large industrial clients for gas supply, particularly in the aluminum sector, which could impact performance if demand declines [10]. - The demand for natural gas is expected to increase significantly, with a potential market growth of 45 billion cubic meters as part of the "coal-to-gas" initiative in key regions such as Beijing-Tianjin-Hebei and the Yangtze River Delta [51]. - The water treatment and environmental protection market is experiencing substantial growth due to stricter emission standards, with a focus on industrial wastewater treatment and urban water supply [52]. - The natural gas industry in China is in a growth phase, with increasing consumption and a shift towards more diverse consumption patterns, particularly in the Bohai Rim and Yangtze River Delta regions [55]. - The company faces risks related to natural gas pricing adjustments, which could lead to performance fluctuations if the pricing policy changes [119]. - The company has a high dependency on large industrial clients for gas supply, which poses risks if demand from these clients declines significantly [121]. Strategic Initiatives - The company has been actively pursuing mergers and acquisitions in the energy-saving and environmental protection sectors to enhance its competitive advantage, although integration poses challenges [11]. - The company plans to expand into new energy-saving and environmental sectors while carefully assessing investment risks associated with entering new industries [13]. - The company is actively developing commercial users along the Shen'an pipeline and exploring strategic partnerships for market expansion in gas power generation and distributed energy projects [49]. - The company is shifting its market focus from North America to Southeast Asia, the Middle East, and Europe due to the impact of the US-China trade war [89]. Financial Management - The company reported no plans to distribute cash dividends or issue bonus shares for the reporting period [14]. - The company has increased its long-term equity investments by 33,523,846.86 CNY, a growth rate of 41.91%, primarily due to additional contributions to the joint venture Zhonglian Huari [66]. - Cash and cash equivalents increased by 116,794,737.71 CNY, representing a 53.30% increase, mainly due to increased sales receipts [66]. - The company has actively pursued asset disposals for underperforming projects, enhancing its financial position and supporting strategic investments [93]. Legal and Compliance - The company has no significant litigation or arbitration matters during the reporting period [131]. - The total amount involved in the arbitration case with Hebei Zhengmao Gas Co., Ltd. is approximately CNY 34.42 million [131]. - The company has initiated enforcement proceedings for the arbitration ruling in favor of its claims [131]. - The company has a pending lawsuit against Jiangsu Suhua Da Nanjing Kaisheng Energy Co., Ltd. with a claim amount of CNY 131.84 million [132]. Shareholder Information - The total number of shares before the change was 880,200,859, with a breakdown of 168,648,755 shares under limited sale conditions (19.16%) and 711,552,104 shares under unrestricted sale conditions (80.84%) [169]. - The largest shareholder, Tianhao Investment Group Co., Ltd., holds 19.44% of the shares, totaling 171,126,166 shares, with 6,466,166 shares under limited sale conditions [174]. - The company has not implemented any share buyback or reduction during the reporting period [170]. - The report indicates that there were no changes in the number of shares held by major shareholders during the reporting period [174].

Financial Performance - Net profit attributable to shareholders was -¥6,638,771.07, representing a decline of 123.16% year-on-year[8] - Operating revenue for the reporting period was ¥421,694,754.35, down 8.61% compared to the same period last year[8] - Basic earnings per share were -¥0.0075, a decrease of 123.29% year-on-year[8] - The weighted average return on net assets was -0.19%, down 122.41% compared to the previous year[8] - The net profit attributable to shareholders decreased by 31.20% to ¥31,078,730.32 compared to the same period last year[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 161.71% to -¥21,362,272.54 compared to the same period last year[22] - Basic and diluted earnings per share both decreased by 30.91% to ¥0.0351 compared to the same period last year[22] - Operating profit for the current period was -$13.24 million, compared to a profit of $7.54 million in the previous period, indicating a significant decline[50] - Net profit for the current period was -$13.63 million, down from a profit of $5.35 million in the previous period, reflecting a negative shift in profitability[50] - The total revenue from sales of goods and services was approximately ¥988.49 million, a decrease from ¥1,102.52 million in the previous period, representing a decline of about 10.3%[59] - The net profit for the period was approximately ¥20.19 million, compared to ¥30.61 million in the same period last year, indicating a decrease of about 34%[58] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥160,684,626.32, an increase of 91.63%[8] - Operating cash flow net increased by 91.63% to CNY 160,684,626.32, driven by the recovery of operating funds[21] - The net cash flow from investment activities was negative at approximately -¥202.08 million, an improvement from -¥795.64 million in the previous period[61] - The net cash flow from financing activities was negative at approximately -¥170.61 million, compared to a positive cash flow of ¥395.15 million in the same period last year[61] - The cash and cash equivalents at the end of the period were approximately ¥166.87 million, down from ¥348.05 million in the previous year, a decrease of about 52%[62] - The company paid approximately ¥1,044.73 million in debt repayment, significantly higher than ¥515.01 million in the previous period, indicating an increase of about 103%[61] - The company's cash and cash equivalents decreased from 550.71 million yuan at the beginning of the period to 243.19 million yuan at the end of the period[37] - The company's cash and cash equivalents at the end of the period stood at ¥30.73 million, a decrease from ¥106.43 million year-over-year[65] - The net increase in cash and cash equivalents was negative at ¥64.21 million, compared to a decrease of ¥450.73 million in the same quarter last year[65] Shareholder Information - The company had a total of 31,569 common shareholders at the end of the reporting period[12] - The largest shareholder, Tianhao Investment Group Co., Ltd., held 19.44% of the shares, with 171,126,166 shares[12] - The company did not conduct any repurchase transactions among the top 10 shareholders during the reporting period[13] - The company has no violations regarding external guarantees during the reporting period[31] - There were no overdue commitments from major shareholders or related parties during the reporting period[30] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,864,068,687.39, a decrease of 5.82% compared to the end of the previous year[8] - Cash and cash equivalents decreased by 55.84% from the beginning of the year to CNY 243,193,907.20, primarily due to debt repayment[18] - Long-term equity investments increased by 43.01% to CNY 77,288,529.64, attributed to a capital increase in a subsidiary[18] - Short-term borrowings rose by 61.46% to CNY 918,296,479.00, reflecting increased financing needs[18] - Prepayments increased by 107.08% to CNY 224,349,259.98, mainly due to advance payments for projects[18] - The total assets of the company decreased from 8.35 billion yuan to 7.86 billion yuan[38] - The total liabilities decreased from 4.68 billion yuan to 4.29 billion yuan, reflecting a reduction in financial obligations[39] - The company's equity attributable to shareholders decreased from 3.49 billion yuan to 3.44 billion yuan[39] - Current liabilities increased to CNY 1,083,417,271.21, up from CNY 808,404,051.59 at the beginning of the period[42] - The total equity of the company decreased to CNY 3,210,723,012.88 from CNY 3,267,993,795.10 at the beginning of the period[43] Expenses - Management expenses increased by 31.42% to CNY 127,543,269.32, mainly due to higher employee compensation and depreciation[19] - Financial expenses rose by 52.10% to CNY 123,635,972.84, attributed to expanded financing scale[19] - Research and development expenses rose to CNY 10,055,191.36, an increase of 44.5% compared to CNY 6,944,618.22 in the previous period[44] - The company experienced an increase in management expenses to $11.51 million from $9.09 million in the previous period, indicating rising operational costs[49] Investments and Projects - The company signed a cooperation framework agreement with CNOOC to establish a joint venture for the Shenmu-Anping coalbed methane pipeline project, with a total investment of approximately ¥4.6 billion[24] - The Shenmu-Anping pipeline project aims to connect coalbed methane resources with the Beijing-Tianjin-Hebei market, enhancing the company's market position[24] - The company signed a cooperation contract for the East Mountain Economic and Technological Development Zone Marine Biotechnology Park Smart Energy Project, with a total planned investment of ¥2 billion[25] - The project is expected to enhance the company's experience in investment, construction, and operation of distributed energy supply projects[25] - The company reported a total of 2 new EPC orders with a total value of 79.13 million yuan during the reporting period[29] - The company confirmed revenue from 3 orders amounting to 94.42 million yuan, with a total of 22 orders on hand valued at 308.25 million yuan[29] - The company has signed a cooperation framework agreement with Zhonglian Coalbed Methane Co., Ltd. to expand its business operations[29] Other Financial Metrics - Non-recurring gains and losses totaled ¥52,441,002.86, with significant contributions from government subsidies and other income[9] - Non-operating income surged by 449.42% to CNY 57,909,922.78, due to performance compensation income recognition[19] - Total operating costs increased to CNY 449,117,479.17, up 3.5% from CNY 435,080,889.81 in the previous period[44] - Total comprehensive income for the current period was -$14.10 million, compared to $616.90 thousand in the previous period, indicating a substantial decline in overall financial health[51] - The company reported a basic and diluted earnings per share of 0.0351, down from 0.0508 in the previous period, reflecting reduced profitability[55] - Other income decreased to $9.04 million from $9.30 million in the previous period, indicating a slight decline in additional revenue sources[50] - Investment losses amounted to -$405.74 thousand, compared to a gain of $167.86 thousand in the previous period, highlighting challenges in investment performance[50]

Financial Performance - Total revenue for the reporting period reached ¥812,864,365.33, an increase of 7.23% compared to ¥758,091,183.38 in the same period last year[28]. - Net profit attributable to shareholders was ¥37,717,501.39, representing a significant increase of 128.48% from ¥16,508,290.78 year-on-year[28]. - The net cash flow from operating activities was ¥108,650,666.70, up 89.78% from ¥57,250,795.32 in the previous year[28]. - Basic earnings per share increased to ¥0.0424, a rise of 127.96% compared to ¥0.0186 in the same period last year[28]. - Total assets at the end of the reporting period were ¥7,944,772,388.70, down 4.85% from ¥8,349,959,929.02 at the end of the previous year[28]. - The net assets attributable to shareholders decreased slightly by 0.53% to ¥3,467,058,321.42 from ¥3,485,458,624.38 at the end of the previous year[28]. - Non-recurring gains and losses totaled ¥52,231,939.63, primarily driven by performance compensation from Beijing Huasheng and government subsidies[32]. - The company reported a significant decline in net profit after deducting non-recurring items, which amounted to -¥14,514,438.24, a decrease of 289.81% compared to ¥7,646,974.76 in the previous year[28]. - The weighted average return on net assets was 1.08%, an increase of 0.59% from 0.49% in the same period last year[28]. Business Segments - The company operates in the energy-saving and environmental protection service industry, focusing on natural gas supply and pipeline operation, water treatment engineering services, and waste heat power generation[35][36][37]. - The natural gas segment includes the development and utilization of natural gas resources, with significant operations in Shanxi and Hebei provinces, enhancing resource integration and growth potential[35]. - The water treatment segment provides comprehensive solutions for municipal water supply, wastewater treatment, and seawater desalination, covering the entire water treatment industry chain[36]. - The company utilizes a contract energy management model in waste heat power generation, allowing partners to save energy costs without investment, sharing energy savings as returns[37]. - The water treatment business generates revenue through engineering service fees and sales of membrane products, leveraging proprietary technology for competitive advantage[40]. - The membrane products are produced using advanced thermal phase separation technology, with a focus on quality control and proprietary production processes[41]. - The sales model for water treatment projects includes public bidding for large infrastructure projects, ensuring compliance with regulations and maximizing contract acquisition[42]. Market and Competitive Position - The company continues to focus on expanding its market presence and enhancing its technological capabilities in the environmental sector[22]. - The company is expanding its market presence in both domestic and international sectors, enhancing its competitive position in the industrial, municipal, and seawater desalination markets[43]. - The company has established a strong procurement model, ensuring stable gas supply through long-term agreements with upstream suppliers, which supports revenue growth from increased natural gas sales[39]. - The natural gas sector is benefiting from favorable government policies and increased environmental regulations, which are expected to enhance revenue and performance in the gas segment[46]. - The tightening of environmental policies and increased regulatory scrutiny have created significant market demand, benefiting the water services segment's operational performance[49]. - The company is recognized as a leading enterprise in the energy-saving and environmental protection industry, enhancing its competitive advantage in business expansion and financing[54]. Strategic Initiatives - The company has strengthened its acquisition strategy in the energy-saving and environmental protection sectors, enhancing its competitive advantages through multiple acquisitions[11]. - The company plans to actively explore new business areas in energy conservation, environmental protection, and clean energy, while carefully assessing investment risks in new industries[12]. - The company aims to increase the share of natural gas in primary energy consumption to 15% by 2030, aligning with national energy strategies[47]. - The company has accumulated rich experience in merger and acquisition integration, continuously enhancing its investment management capabilities[11]. - The company has been actively pursuing mergers and acquisitions to enhance its competitive advantage in the energy-saving and environmental protection sectors[106][107]. Operational Risks - The company holds natural gas franchise rights in three counties in Shanxi Province, with a focus on supplying gas to large aluminum enterprises, indicating a high customer concentration risk[10]. - The gas segment's profitability is supported by a natural monopoly and bargaining power with upstream partners, but is exposed to risks from potential government pricing policy adjustments[5]. - The reliance on cooperative enterprises for waste heat power management poses operational risks, particularly if these enterprises face production challenges[8]. - The company’s financial performance may be impacted by macroeconomic conditions affecting gas demand from large industrial clients[10]. - The company has established strict standards for selecting cooperative enterprises, focusing on those with strong sustainable operational capabilities[8]. - The company anticipates potential risks related to natural gas pricing adjustments, which could impact profitability due to government pricing policies[103]. - The company relies on cooperative enterprises for its waste heat power generation management business, which may affect operational efficiency if these enterprises face production challenges[105]. - The company has significant reliance on large industrial clients for natural gas supply, which poses risks if demand declines due to macroeconomic factors[106]. Investment and Financing - The company has seen a 46% increase in long-term equity investments, amounting to an increase of 24.91 million yuan, primarily due to the capital increase from China Gezhouba Group Green Park Technology Co., Ltd.[51]. - The company experienced a 39% decrease in cash funds, down by 216.71 million yuan, mainly due to debt repayment.[51]. - The company reported a 31% reduction in inventory, decreasing by 200.68 million yuan, attributed to the transfer of completed but unsettled assets to accounts receivable upon meeting settlement conditions.[51]. - The company has a total approved guarantee amount of CNY 236,199 million at the end of the reporting period, with actual guarantees totaling CNY 111,402.9 million[142]. - The company reported a guarantee amount of CNY 6,557 million for subsidiaries at the end of the reporting period, with actual guarantees of CNY 2,175.01 million[142]. - The company has a guarantee balance of CNY 0 for shareholders, actual controllers, and their related parties[142]. Legal and Compliance - The company has no significant litigation or arbitration matters during the reporting period[119]. - The total amount involved in the arbitration case with Hebei Zhengmao is approximately CNY 34.42 million, with the company applying for enforcement of the arbitration result[119]. - The company has initiated legal proceedings against Jiangsu Suhua New Materials Co., Ltd. for contract disputes, with the amount involved being CNY 130.94 million[119]. - The company is also involved in a lawsuit against Ningxia Xinhua Industrial Group Co., Ltd. for CNY 133.85 million, which is currently under review[119]. - The company has no media scrutiny or public questioning during the reporting period[120]. - There are no penalties or rectification measures reported for the company during the period[122]. Corporate Governance - The actual controller and related parties have fulfilled their commitments during the reporting period[113]. - The company has not undergone any bankruptcy reorganization during the reporting period[118]. - The semi-annual financial report has not been audited[117]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period[123]. - The actual amount of related party transactions for the reporting period is CNY 3.31 million, which is below the approved limit of CNY 20 million[124]. - The company has not engaged in any asset or equity acquisition or sale transactions during the reporting period[126]. - The company has not disclosed any additional necessary information as required by regulatory authorities[169]. Social Responsibility - The company invested 3.39 million in poverty alleviation efforts, helping 238 registered poor individuals to escape poverty[149]. - The company plans to invest a total of 2.8 million in poverty alleviation in the second half of 2018, aiming to assist 20 households[154]. - The company has established a poverty alleviation working group in Xing County, focusing on 90 registered poor households[149].

Financial Performance - Total revenue for Q1 2018 was CNY 394,185,461.60, an increase of 12.89% compared to CNY 349,189,803.81 in the same period last year[7] - Net profit attributable to shareholders was CNY -16,311,501.34, a decrease of 678.16% from CNY 2,821,257.11 in the previous year[7] - The company's consolidated revenue for the reporting period reached 394.19 million, representing a year-on-year growth of 12.89% driven by the gas and water service sectors[27] - The net profit attributable to the parent company was -16.31 million, primarily impacted by increased financial and depreciation expenses[27] - The net profit for the period was a loss of CNY 24,468,575.75, compared to a profit of CNY 1,311,095.39 in the same period last year[54] - Total comprehensive income for Q1 2018 was a loss of CNY 18,627,161.85, compared to a profit of CNY 127,698.96 in the previous year[58] Cash Flow - Net cash flow from operating activities reached CNY 73,500,582.52, a significant increase of 1,066.78% compared to CNY 6,299,456.53 in the same period last year[7] - Cash flow from operating activities generated a net inflow of CNY 73,500,582.52, significantly up from CNY 6,299,456.53 in the previous year[61] - Cash flow from investing activities resulted in a net outflow of CNY 70,780,420.78, an improvement from a net outflow of CNY 319,731,171.48 in the previous year[62] - Cash flow from financing activities showed a net outflow of CNY 179,827,062.90, compared to a net inflow of CNY 133,632,598.40 in the same period last year[62] Assets and Liabilities - Total assets at the end of the reporting period were CNY 8,017,512,254.33, down 3.98% from CNY 8,349,959,929.02 at the end of the previous year[7] - Cash and cash equivalents decreased by 41.78% from the previous year, amounting to 320,602,856.46 RMB[21] - Total current assets decreased from ¥2,348,622,552.85 to ¥2,110,201,417.60, a decline of about 10.1%[45] - Total liabilities decreased from ¥4,679,588,215.84 to ¥4,372,148,375.85, a reduction of approximately 6.5%[47] - The company's total assets decreased from ¥8,349,959,929.02 to ¥8,017,512,254.33, reflecting a decline of about 4%[48] Shareholder Information - Total number of common shareholders at the end of the reporting period is 35,245[15] - The largest shareholder, Tianhao Investment Group, holds 19.25% of shares, totaling 171,126,166 shares, with 6,466,166 shares pledged[15] - The actual controller of Tianhao Investment Group is Mr. Chen Zuotao, who, together with his holdings, controls a total of 22.93% of the company's shares[16] Operational Highlights - The company is focused on mergers and acquisitions in the energy-saving and environmental protection sectors to enhance competitive advantages[10] - The company plans to expand into new energy-related fields while carefully assessing investment risks and strengthening team capabilities[13] - The company signed new energy-saving and environmental protection project orders worth 12.06 million during the reporting period[27] - The company has increased investments in pipeline construction to support future growth in the gas sector[27] Risks and Challenges - The company faces risks related to natural gas pricing adjustments that could impact performance due to reliance on government pricing mechanisms[9] - Seasonal characteristics in the water treatment industry may lead to fluctuations in financial results, with project revenues concentrated in the second half of the year[9] Other Financial Metrics - Financial expenses rose to 40.08 million, a 67.40% increase due to expanded financing scale[23] - Investment income surged to 0.30 million, reflecting a 483.91% increase due to reduced losses from equity investments and increased returns from cash management products[23] - The company incurred financial expenses of CNY 26,535,025.59, an increase from CNY 17,544,968.90 in the previous year[57]

Financial Performance - The company reported a total revenue of 1.2 billion RMB for the fiscal year 2017, representing a year-on-year growth of 15%[19]. - The net profit attributable to shareholders was 200 million RMB, an increase of 10% compared to the previous year[19]. - The company's operating revenue for 2017 was CNY 1,983,877,478.76, representing a 17.51% increase compared to CNY 1,688,224,239.74 in 2016[27]. - The net profit attributable to shareholders for 2017 was CNY 90,172,263.66, a significant increase of 54.48% from CNY 58,372,612.02 in 2016[27]. - The net profit after deducting non-recurring gains and losses reached CNY 93,933,106.34, marking a 145.67% increase from CNY 38,235,252.68 in 2016[27]. - The gross margin for the year was reported at 35%, a slight increase from 33% in the previous year[19]. - The company reported a significant increase in government subsidies related to business operations, amounting to CNY 4,424,763.00 in 2017[33]. - The company reported a significant impact from government fines and penalties related to Scinor Water, which may affect its financial performance[143]. Business Segments and Operations - The company has a total of four main business segments, including natural gas supply and pipeline operation, and water treatment engineering services[37][38]. - The gas segment holds natural gas franchise rights in three counties, ensuring a certain level of pricing power and profitability[5]. - The company’s main customers in the gas supply segment are large aluminum enterprises, which have shown stable profitability despite industry fluctuations[10]. - The company’s water treatment services generate revenue through engineering services for wastewater treatment plants and the sale of membrane products, leveraging proprietary technology[42]. - The company operates over 30 projects in the waste heat power generation sector, with a total installed capacity exceeding 300 MW[63]. - The company has established a contract energy management model that allows partners to save energy costs significantly without any investment, leading to a win-win situation[39]. - The company is focused on integrating resources and expanding its capabilities in the gas sector through strategic acquisitions and partnerships[37]. Research and Development - The company is investing 50 million RMB in R&D for new technologies aimed at improving energy efficiency[19]. - The company has developed advanced membrane manufacturing technologies that improve production efficiency by nearly 5 times compared to traditional methods[61]. - Research and development projects include the development of high-performance PVDF hollow fiber ultrafiltration membranes aimed at reducing costs in seawater desalination, currently in the optimization phase[97]. - The company is enhancing its research and development in membrane technology to meet the growing demand in the water treatment industry[129]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2020[19]. - The company aims to leverage its advantages in water treatment and membrane product sales to expand market share and brand influence[129]. - The company plans to enter international markets, with a focus on Southeast Asia, aiming for a 15% contribution to total revenue by 2025[173]. - The company is actively exploring new business areas in energy conservation, environmental protection, and clean energy, while assessing investment risks[12]. Cash Dividends and Shareholder Returns - The company reported a cash dividend of 0.21 RMB per 10 shares, with a total base of 888,932,064 shares[12]. - The company plans to distribute a cash dividend of 0.21 CNY per 10 shares, totaling 18,667,573.34 CNY, which represents 20.70% of the net profit attributable to shareholders in 2017[138]. - The total distributable profit for the year is 446,075,682.81 CNY, with cash dividends accounting for 100% of the profit distribution[137]. - The company has maintained a consistent dividend payout strategy over the past three years[140]. Risks and Challenges - The company faces risks related to government pricing policy changes for natural gas, which could impact sales performance[5]. - The company relies on high-energy-consuming industries for its waste heat power generation contracts, which may be affected by macroeconomic conditions[8]. - The company has established strict standards for selecting cooperative enterprises in its waste heat power generation business to mitigate operational risks[8]. - The company’s financial performance may be affected by the seasonal nature of its water treatment projects, requiring effective management strategies[7]. Acquisitions and Investments - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance operational efficiency and increase market penetration[19]. - The company has completed 5 out of the only ten large-scale seawater desalination projects in China, leading the domestic market in terms of project quantity and water production scale[61]. - The cumulative investment in the acquisition of 100% equity of Sino Water was CNY 524.16 million[113]. - The company has expanded its business through acquisitions, including the purchase of Saino Water and Beijing Huasheng, enhancing its capabilities in water treatment and gas supply[73]. Environmental and Regulatory Compliance - The company is committed to developing a collaborative strategy in the gas sector, particularly in urban gas supply and pipeline transportation[126]. - The company has undertaken measures to ensure compliance with various legal and regulatory requirements regarding stock transfers and shareholding limits[146]. - The company has committed to avoiding any illegal occupation of Tianhao Energy's funds and assets, ensuring no financial support is provided to related parties[176]. - The company has established a commitment to disclose information related to related party transactions in accordance with legal requirements[162].