Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[17]. - The company's operating revenue for the reporting period was ¥466,991,468.23, a decrease of 22.79% compared to the same period last year[23]. - The net profit attributable to shareholders was ¥4,725,835.64, down 75.73% year-on-year[23]. - The net profit after deducting non-recurring gains and losses was -¥1,794,707.69, representing a decline of 112.02% compared to the previous year[23]. - The company achieved a total revenue of CNY 46,699.15 million in the first half of 2022, with a net profit attributable to shareholders of CNY 472.58 million[59]. - The company reported a significant increase in cash flow from financing activities, up 106.57% to ¥9,119,819.06, due to reduced bank loan repayments[87]. - The company's cash and cash equivalents decreased to ¥262,310,906.64, down from ¥428,090,823.65, primarily due to the timing of financial product redemptions[94]. - The company's revenue for the reporting period was ¥466,991,468.23, a decrease of 22.79% compared to ¥604,797,688.83 in the same period last year, primarily due to the termination of some B-end operation projects and a reduction in C-end product and service orders[86]. Profitability and Margins - The gross profit margin improved to 30%, up from 28% in the same period last year[17]. - Operating costs decreased by 21.84% to ¥357,125,052.08 from ¥456,916,267.61, reflecting improved cost management[86]. - The gross margin for E2B services was 20.12%, while E2C services had a gross margin of 36.63%, showing a mixed performance across different service lines[89]. User Growth and Market Expansion - User data indicates a growth in active users by 20%, reaching 500,000 users by the end of June 2022[17]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[17]. - The company has accumulated nearly 3 million residential and commercial customers, reflecting a strong market presence in energy-efficient solutions[40]. - The air source heat pump business has seen significant growth, with a notable increase in revenue from commercial projects in the first half of 2022[63]. Research and Development - The company plans to invest RMB 200 million in R&D for new energy technologies in the upcoming year[17]. - The company applied for 45 new patents during the reporting period, including 9 invention patents, demonstrating a strong focus on independent research and development[67]. - Research and development investment was ¥16,566,093.11, a slight decrease of 2.99% from ¥17,076,625.87 in the previous year, indicating continued commitment to innovation[87]. - The company focuses on technology innovation and customer demand, ensuring sustainable competitiveness through increased R&D investment[78]. Environmental Commitment - The company utilizes low nitrogen combustion and selective non-catalytic reduction for flue gas treatment, ensuring compliance with emission standards[142]. - The company has implemented measures to ensure that all emissions are within the specified limits, demonstrating commitment to environmental standards[142]. - The company adheres to the "Comprehensive Wastewater Discharge Standard" (GB8978-1996) for wastewater management[141]. - The company has implemented a comprehensive waste gas treatment system, including low nitrogen combustion and selective non-catalytic reduction, to ensure emissions meet regulatory standards[144]. Strategic Initiatives - A strategic acquisition of a local competitor is expected to enhance the company's product offerings and market reach[17]. - The company aims to participate in the national "dual carbon" development strategy by upgrading its technology and product structure[31]. - The company is actively pursuing new projects in biomass and other renewable energy sectors to align with national industrial policy[61]. - The company’s new strategic direction aligns with national dual carbon strategies, aiming to strengthen its position as a comprehensive clean energy service provider[69]. Challenges and Risks - The management highlighted potential risks including supply chain disruptions and regulatory changes impacting the energy sector[5]. - The company faces macroeconomic risks due to ongoing global uncertainties, including trade tensions and geopolitical issues[122]. - The company is at risk of goodwill impairment related to its acquisition of a 51% stake in Chengdu Century New Energy Co., Ltd., with goodwill amounting to 299 million CNY[125]. - The company faces significant risks from fluctuations in raw material prices, primarily natural gas, biomass, steel, copper, and aluminum, which have increased production costs[126]. Corporate Governance and Management - The company has established a comprehensive internal control system to ensure fair treatment of all shareholders and timely information disclosure[160]. - The company’s management has undergone changes, with several directors and supervisors elected during the annual and temporary shareholder meetings[133]. - The company has not reported any significant changes in asset management institutions during the reporting period[136]. Product Development and Innovation - The company has developed a comprehensive solution for residential and commercial sectors, integrating "cold, warm, wind, water, and intelligence" into its offerings[39]. - The company’s new product line includes a series of condensing boilers that meet the latest energy efficiency standards and ultra-low nitrogen emission requirements[41]. - The company is developing high-temperature heat pumps and other innovative products to meet diverse industrial needs, aiming to establish new business growth points[73]. Financial Management - The total amount of funds raised was ¥600,000,000, with a net amount of ¥588,557,547.17 after deducting issuance costs[107]. - The company has reported no significant violations in the management of raised funds as of June 30, 2022[111]. - The company has committed to ensuring that the investment projects funded by raised funds proceed normally while utilizing idle funds[111].

Financial Performance - The company's operating revenue for the reporting period was 1,249.08 million yuan, a decrease of 20.07% year-on-year[5]. - The net profit attributable to shareholders was -79.87 million yuan, a decline of 345.56% compared to the previous year[5]. - The net cash flow from operating activities decreased by 62.43% to approximately ¥116.32 million in 2021, down from ¥309.60 million in 2020[25]. - The total assets at the end of 2021 were approximately ¥3.02 billion, an 8.77% decrease from ¥3.31 billion at the end of 2020[25]. - The net assets attributable to shareholders decreased by 11.11% to approximately ¥1.36 billion at the end of 2021, down from ¥1.53 billion at the end of 2020[25]. - The basic earnings per share for 2021 was -¥0.22, a decline of 344.44% compared to ¥0.09 in 2020[25]. - The company reported a significant asset impairment loss of CNY 148.15 million due to policy adjustments and rising commodity prices[96]. - The company reported a weighted average return on equity of -5.56% for 2021, down from 2.15% in 2020[25]. - The total revenue for 2021 was approximately ¥1.25 billion, a decrease of 20.07% compared to ¥1.56 billion in 2020[72]. Strategic Positioning and Market Opportunities - The company maintains its strategic positioning as a "comprehensive clean energy service provider," focusing on clean energy investment and operation, smart home manufacturing, and clean energy application equipment[7]. - The national "dual carbon" development strategy provides substantial market opportunities, with the company holding 377 national patents and participating in the formulation of 46 national and industry standards[8]. - The company anticipates significant growth opportunities in B-end energy equipment and distributed energy stations due to the national "dual carbon" strategy[39]. - The national "14th Five-Year Plan" emphasizes the need to increase the proportion of renewable energy and improve energy consumption efficiency, aligning with the company's strategic direction[35]. - The company is positioned as a "clean energy comprehensive service provider" in line with the national "dual carbon" development strategy, which offers significant market opportunities[125]. Product Development and Innovation - The company has developed a digitalized boiler production line, ensuring quality control and compliance with the latest energy efficiency standards[53]. - The company’s clean energy application equipment includes electric boilers, biomass boilers, and gas boilers, catering to diverse customer needs[53]. - The company’s new air purification products achieve a PM2.5 purification efficiency of 99.7% and a H1N1 virus kill rate of 99.99%[48]. - The company is focusing on the development of new energy boilers, including electric and biomass boilers, in line with the national "dual carbon" strategy[59]. - The company aims to enhance its heat pump product development to seize opportunities under the dual carbon targets, with a focus on energy-saving technologies and expanding its product series in residential and commercial heating[130]. Customer Base and Market Presence - The company has accumulated over 2 million residential and commercial customers, reflecting a strong market presence in energy-efficient solutions[40]. - The company has established a solid customer base, with over 2 million households using the "Squirrel" brand wall-mounted boilers for heating solutions[64]. - The company has accumulated extensive customer resources, numerous patents, and rich industry experience over nearly 30 years in the thermal energy sector[39]. Operational Efficiency and Cost Management - The company has implemented measures to counteract rising fuel costs, enhancing project profitability through energy-saving technology and price linkage mechanisms[65]. - The company is committed to achieving energy savings, carbon reduction, and cost reduction for its clients through innovative energy solutions[127]. - The company is advancing the development of a new series of products, including a full premixed condensing commercial boiler and a variable frequency steam engine, aimed at expanding market applications[90]. Governance and Compliance - The company has established a governance structure consisting of the shareholders' meeting, board of directors, supervisory board, and management team, ensuring compliance with relevant laws and regulations[138]. - The board of directors comprises 9 members, including 3 independent directors, ensuring a balanced representation and adherence to legal requirements[139]. - The company has implemented a robust internal control system covering various areas, including governance structure, financial management, and risk control, ensuring effective execution and risk mitigation[142]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate communication with investors through various channels[143]. Environmental Compliance and Emissions - The company achieved a nitrogen oxide emission of 6.58 tons, with an annual limit of 57.71 tons[193]. - The company operates three gas boilers, all of which comply with the emission standards for nitrogen oxides and sulfur dioxide[194]. - The company’s wastewater treatment processes ensure that all discharge meets local environmental standards[196]. - The company has implemented various emission control technologies, including low nitrogen combustion and selective non-catalytic reduction (SNCR) for flue gas treatment[196]. Employee Management and Development - The total number of employees at the end of the reporting period is 952, with 68 in the parent company and 885 in major subsidiaries[170]. - The company has established a competitive salary system based on fair and market-oriented principles, aligning employee salary growth with business development and efficiency improvements[171]. - The company has a comprehensive welfare system that includes social insurance, housing funds, commercial insurance, and various employee benefits[171]. - The company has established a long-term partnership with Times Guanghua, offering over 3,000 training courses to enhance employee skills and management capabilities[173].

Financial Performance - The company's operating revenue for Q1 2022 was ¥209,086,477.49, a decrease of 32.64% compared to ¥310,385,492.88 in the same period last year[4] - The net profit attributable to shareholders for Q1 2022 was ¥2,604,887.20, down 59.17% from ¥6,379,962.55 year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥1,663,882.57, a decline of 136.31% compared to ¥4,582,831.33 in the previous year[4] - Total revenue for the first quarter was CNY 209,086,477.49, a decrease of 32.6% compared to CNY 310,385,492.88 in the previous year[21] - Total operating costs for the first quarter were CNY 206,227,542.86, down 31.6% from CNY 301,485,492.38 year-over-year[21] - Gross profit margin for the first quarter was approximately 1.4%, compared to a significantly higher margin in the previous year[21] - The net profit for Q1 2022 was CNY 9,042,557.57, a decrease of 20.7% compared to CNY 11,413,585.58 in Q1 2021[22] - The total profit for Q1 2022 was CNY 11,321,963.21, down 30.5% from CNY 16,271,387.82 in the same period last year[22] - Operating income for Q1 2022 was CNY 9,501,109.94, a decline of 45.8% from CNY 17,531,432.94 in Q1 2021[22] - The total comprehensive income for Q1 2022 was CNY 9,042,557.57, down from CNY 11,621,835.58 in Q1 2021[22] - The basic and diluted earnings per share for Q1 2022 were both CNY 0.01, compared to CNY 0.02 in Q1 2021[22] Cash Flow and Assets - The net cash flow from operating activities improved to -¥14,900,984.98, a 64.94% increase from -¥42,501,703.37 in the same period last year[4] - Cash flow from operating activities showed a net outflow of CNY 14,900,984.98, an improvement from a net outflow of CNY 42,501,703.37 in the previous year[24] - Cash flow from investing activities resulted in a net outflow of CNY 197,889,527.81, compared to a net outflow of CNY 140,910,320.33 in Q1 2021[25] - Cash flow from financing activities generated a net inflow of CNY 92,353,817.64, contrasting with a net outflow of CNY 98,983,608.00 in the same quarter last year[25] - Total assets at the end of Q1 2022 were ¥3,057,817,899.84, reflecting a 1.19% increase from ¥3,021,875,111.85 at the end of the previous year[4] - Cash and cash equivalents decreased to CNY 295,308,447.68 from CNY 428,090,823.65, a decline of 30.9%[20] - The cash and cash equivalents at the end of Q1 2022 stood at CNY 272,405,233.27, a decrease from CNY 275,393,039.37 at the end of Q1 2021[25] - Total liabilities rose to CNY 1,555,233,719.45, an increase of 1.8% from CNY 1,528,334,417.55[20] - Non-current assets totaled CNY 1,764,463,852.08, up from CNY 1,737,781,954.51, indicating a growth of 1.5%[20] - Inventory increased slightly to CNY 218,392,804.45 from CNY 214,071,933.49, a rise of 2.0%[20] Shareholder Information - The company reported a total of 10,100,000 shares held in the repurchase special securities account, accounting for 2.71% of the total share capital[13] - The core partner 2 stockholding plan has accumulated a total of 5,299,065 shares purchased at an average price of 17.36 RMB per share, totaling approximately 92 million RMB[15] - As of March 31, 2022, the core partner 2 stockholding plan held 484,465 shares, representing 0.13% of the total share capital[17] - The company’s major shareholders include Chang Hou Chun with 13.65% and Li Zu Qin with 10.70% of the shares[12] - The company has a total of 50,919,599 shares held by Chang Hou Chun, which is the largest single holding[12] - The company’s major shareholders have signed a concerted action agreement, effective for five years[12] - The company’s total number of shares held by the top 10 shareholders is significant, indicating concentrated ownership[12] Project and Contract Status - The company has not signed any new BOT or BOO contracts in the current period, with a total of 34 ongoing projects valued at approximately 15 million RMB[14] - The company’s total investment amount for ongoing projects is approximately 15 million RMB, with 20 projects in the construction phase[14] - The company has not reported any new orders in the current quarter, maintaining a focus on existing contracts[14] Other Income and Expenses - The company reported a significant decrease in other income, which was ¥3,247,869.74, down 56.22% from ¥7,418,656.78 year-on-year[9] - The company experienced a 44.31% reduction in taxes and surcharges, amounting to ¥1,640,710.51, down from ¥2,946,148.65 year-on-year[9] - The company reported a 76.60% increase in asset disposal gains to ¥714,120.94, compared to ¥404,370.31 in the previous year[9] - Research and development expenses for the quarter were CNY 7,351,821.99, up from CNY 6,136,111.21, reflecting a 19.8% increase[21] - The company reported a net loss from investments in associates of CNY -209,046.38, compared to a loss of CNY -79,916.35 in the previous year[21]

Financial Performance - The company's operating revenue for Q3 2021 was ¥361,515,935, a decrease of 20.56% compared to the same period last year[3]. - The net profit attributable to shareholders was ¥5,147,517.80, representing a significant decline of 85.95% year-on-year[3]. - The net profit after deducting non-recurring gains and losses was ¥1,727,372.30, down 66.46% from the previous year[3]. - The net profit attributable to shareholders of the listed company decreased by 38.64% to CNY 24,623,082.82 compared to the same period last year[9]. - Net profit for Q3 2021 was CNY 48,858,599.86, a decrease of 16.5% from CNY 58,488,102.20 in the previous year[25]. - Earnings per share (EPS) for Q3 2021 was CNY 0.07, down from CNY 0.11 in the same quarter last year[26]. - The company reported a total comprehensive income of CNY 50,549,589.86, compared to CNY 58,160,852.20 in the same period last year[26]. Cash Flow and Liquidity - Cash and cash equivalents decreased by 62.21% to ¥219,090,475.90 due to loan repayments and profit distribution[8]. - The net cash flow from operating activities decreased by 71.70% to CNY 34,763,365.24, primarily due to rising commodity prices and increased tax payments[9]. - The net cash flow from operating activities for Q3 2021 was ¥34,763,365.24, a decrease of 71.7% compared to ¥122,846,341.36 in Q3 2020[28]. - The total cash and cash equivalents at the end of Q3 2021 stood at ¥197,982,054.15, down from ¥254,303,952.86 at the end of Q3 2020[28]. - The net cash flow from investing activities was -¥272,016,541.65, worsening from -¥216,883,709.12 in the same period last year[28]. - The net cash flow from financing activities was -¥122,178,555.20, compared to -¥177,780,089.26 in Q3 2020, indicating an improvement[28]. Assets and Liabilities - As of September 30, 2021, the company's total current assets amounted to 1,350,626,399.49 yuan, a decrease from 1,502,095,945.30 yuan at the end of 2020[21]. - The company's total liabilities decreased from 1,519,998,839.15 yuan at the end of 2020 to 1,418,633,086.72 yuan by September 30, 2021[22]. - The company's total assets decreased from 3,312,267,307.04 yuan at the end of 2020 to 3,145,945,767.01 yuan by September 30, 2021[21]. - The company's total equity attributable to shareholders was CNY 1,499,056,646.94, a decrease from CNY 1,526,322,368.41 in the previous year[25]. - The total liabilities amounted to ¥1,519,998,839.15, with current liabilities at ¥973,679,504.31[32]. - The total assets of the company were reported at ¥3,312,267,307.04, with non-current assets totaling ¥1,810,171,361.74[32]. Investments and Income - The company's trading financial assets increased by 1971.08% to ¥179,863,732.50, attributed to investments in financial products[8]. - Long-term equity investments rose by 52.22% to ¥51,870,184.64, due to new joint ventures[8]. - Investment income increased by 133.94% to CNY 6,420,972.53 due to gains from the disposal of subsidiary equity[9]. - The company reported a total of ¥3,420,145.48 in non-recurring gains for the current period[5]. - The company experienced a 32.38% increase in non-operating income, reaching CNY 4,548,944.62, mainly from litigation compensation received[9]. - The company recorded cash inflows from financing activities of ¥224,610,906.08, down from ¥420,475,000.00 in Q3 2020[28]. Taxation and Expenses - The company reported a 64.00% increase in taxes and surcharges, totaling CNY 8,523,460.07, attributed to increased turnover taxes and property taxes[9]. - The company paid ¥87,463,754.42 in various taxes and fees, an increase from ¥55,300,017.07 in the previous year[28]. - The company’s long-term borrowings increased from 39,600,000.00 yuan at the end of 2020 to 86,510,405.82 yuan by September 30, 2021[22]. - The company reported a 49.57% increase in income tax expenses, totaling CNY 23,178,784.53, due to the reversal of deferred tax expenses[9]. - Research and development expenses increased to CNY 29,454,620.61, representing a rise of 27.6% compared to CNY 23,077,807.43 in the previous year[24]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 32,441[11]. - The top three shareholders hold a combined 31.87% of the shares, with Chang Hou Chun holding 13.65%[12].

Financial Performance - The company reported a revenue increase of 15% year-over-year for the first half of 2021, reaching RMB 500 million[17]. - The gross profit margin improved to 30%, up from 25% in the same period last year[17]. - The company's operating revenue for the reporting period was ¥604,797,688.83, representing a 30.39% increase compared to the same period last year[23]. - Net profit attributable to shareholders was ¥19,475,565.02, a significant increase of 458.62% year-over-year[23]. - The net profit after deducting non-recurring gains and losses reached ¥14,932,747.56, reflecting a 1,097.32% increase compared to the previous year[23]. - The net cash flow from operating activities was ¥58,360,013.53, marking a 568.44% increase from the same period last year[23]. - Basic and diluted earnings per share were both ¥0.05, up 400.00% from ¥0.01 in the previous year[23]. - The management has set a revenue guidance of RMB 1 billion for the full year 2021, representing a 20% growth compared to 2020[17]. Market Expansion and Strategy - User data showed a 20% increase in active users, totaling 1 million by the end of June 2021[17]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2023[17]. - The company is exploring potential acquisitions to enhance its product portfolio and market reach, with a budget of RMB 200 million set aside for this purpose[17]. - The company aims to meet the latest energy efficiency standards and ultra-low nitrogen emission requirements with its new condensing boiler series[47]. Research and Development - The company has allocated RMB 50 million for R&D in new technologies, focusing on biomass energy solutions[17]. - The company invested ¥17.08 million in R&D, which is a 9.19% increase from ¥15.64 million in the same period last year[75]. - The company holds a total of 367 valid patents, including 66 invention patents and 30 software copyrights, reflecting its strong commitment to innovation[71]. Product Development - New product launches include a high-efficiency condensing boiler, expected to contribute an additional RMB 100 million in revenue by the end of 2021[17]. - The company has developed new commercial products such as fully premixed commercial water boilers and variable frequency steam engines, achieving energy savings of 10-30% compared to traditional gas boilers and reducing footprint by 70%[53]. - The company has expanded its product line to include kitchen appliances such as integrated stoves and gas water heaters, enhancing its presence in the home appliance sector[61]. - The company has launched new products, including various innovative water purification devices, contributing to its product portfolio expansion[72]. Environmental Compliance and Sustainability - The company is positioned to benefit from the national energy transition goals, focusing on clean and renewable energy sources as part of its long-term strategy[33]. - The company has established a comprehensive waste gas treatment system to minimize environmental impact and ensure regulatory compliance[128]. - The company achieved compliance with the new pollutant secondary standard for particulate matter and the secondary new expansion standard for ammonia as per the relevant environmental regulations[143]. - The company’s organized emissions comply with the standards set by the "Emission Standards for Air Pollutants from Coal-Fired Power Plants" (DB33/2147-2018)[134]. Financial Management and Investments - The company reported a total investment loss of ¥238.61 thousand, primarily due to the disposal loss from the cancellation of a subsidiary's equity[81]. - The total amount of funds raised was ¥600,000,000, with a net amount of ¥588,557,547.17 after deducting issuance costs[95]. - The company utilized ¥1,169.45 million of the raised funds during the reporting period, primarily for the expansion project of Changzhou Boiler Co., Ltd.[96]. - The company has invested a total of CNY 58,855.75 million in committed investment projects, with a completion rate of 33.16% as of December 31, 2021[98]. Risk Management - The company faces risks related to supply chain disruptions and regulatory changes in the energy sector, which it is actively monitoring[5]. - The company faces risks from macroeconomic uncertainties, including ongoing pandemic effects and geopolitical tensions, which may impact future performance[107]. - The company is exposed to risks from fluctuations in raw material prices, particularly natural gas and steel, which can significantly affect production costs[112]. Corporate Governance and Social Responsibility - The company has established a comprehensive internal control system to ensure fair and equitable rights for all shareholders, with measures in place for transparent information disclosure[185]. - The company has committed to social responsibility by donating to charitable causes and participating in community support activities, enhancing its corporate social image[188]. - The company emphasizes employee rights and welfare, providing regular training and a comprehensive benefits system to enhance employee satisfaction and retention[186]. Legal and Compliance Issues - The company has received a fine of 86,000 RMB for non-compliance regarding organic waste gas production, which has been rectified as per regulatory requirements[182]. - The company has engaged third-party monitoring agencies to ensure compliance with emission standards across its subsidiaries[178]. - There were no major litigation or arbitration matters during the reporting period[197].

Financial Performance - The company's net cash flow from operating activities decreased by 27.79% compared to the same period last year[6]. - The net profit for the year dropped by 60.35% year-on-year, primarily due to the impact of the pandemic on client operations and increased accounts receivable[6]. - The company's operating revenue for 2020 was ¥1,562,624,073.93, representing a 6.96% increase compared to ¥1,460,955,401.39 in 2019[16]. - The net profit attributable to shareholders decreased by 60.35% to ¥32,525,519.18 in 2020 from ¥82,037,786.30 in 2019[16]. - The net profit after deducting non-recurring gains and losses was ¥47,028,135.20, down 26.74% from ¥64,195,176.50 in the previous year[16]. - Basic earnings per share fell by 60.87% to ¥0.09 in 2020 from ¥0.23 in 2019[16]. - The total assets at the end of 2020 were ¥3,312,267,307.04, a decrease of 2.26% from ¥3,388,899,349.53 at the end of 2019[16]. - The weighted average return on equity was 2.15%, down 3.35% from 5.50% in 2019[16]. - The company reported a net loss of ¥17,177,865.62 in Q1 2020, followed by a recovery in Q2 and Q3, but ended the year with a loss in Q4[20]. - The company achieved operating revenue of CNY 1,562.62 million, an increase of 6.96% compared to the same period last year[49]. - The net profit attributable to shareholders decreased by 60.35% to CNY 32.53 million, while the net profit after deducting non-recurring items fell by 26.74% to CNY 47.03 million[49]. - The net cash flow from operating activities was CNY 309.61 million, down 27.79% year-on-year[49]. Dividend Distribution - The profit distribution plan approved by the board is to distribute a cash dividend of 1.5 RMB per 10 shares (including tax) based on a total of 362,838,038 shares[6]. - In 2020, the company distributed cash dividends of RMB 54,425,705.70, which is 43.29% of the total distributable profit of RMB 208,750,947.56[115]. - The cash dividend amount was 54,425,705.70, representing 167.33% of the net profit attributable to ordinary shareholders[121]. - The total cash dividend, including other methods, reached 90,366,741.62, which is 277.83% of the net profit attributable to ordinary shareholders[121]. - The company has committed to maintaining a minimum cash dividend ratio of 80% during profit distribution, given its mature development stage and lack of major capital expenditure plans[115]. Operational Challenges - The report indicates that some B-end operational clients faced significant operational difficulties, leading to asset impairment and increased disposals[6]. - The company has identified risks related to accounts receivable collection due to the impact of the pandemic, which may adversely affect cash flow and operational performance[111]. - The company will continue to monitor the operational status of its projects closely to prevent asset impairment and disposal losses due to client performance issues[111]. Future Outlook and Strategy - The company has highlighted potential risks in its future plans and development strategies, urging investors to be cautious[6]. - The company anticipates a rebound in the Chinese economy in 2021, despite facing risks such as global economic slowdown and geopolitical tensions[101]. - The company aims to enhance its position as a "clean energy comprehensive service provider," focusing on clean energy products and services[106]. - The company plans to invest in the construction of a clean energy boiler production project with an annual capacity of 20,000 tons, utilizing funds raised from convertible bonds[108]. - The company intends to increase R&D investment, focusing on energy-saving products such as steam generators and new air conditioning systems[107]. Environmental Commitment - The company is committed to complying with the disclosure requirements of the Shenzhen Stock Exchange regarding energy-saving and environmental protection services[6]. - The company’s clean energy solutions are designed to integrate various energy sources, ensuring efficient and environmentally friendly energy use[26]. - The company has implemented a low nitrogen combustion and selective non-catalytic reduction (SNCR) system for flue gas treatment, with two boilers equipped with waste gas treatment facilities[162]. - The company has made significant investments in environmental protection, including the installation of online monitoring systems and third-party testing for emissions[171]. Research and Development - The company has established a comprehensive R&D, production, sales, and after-sales service system, enhancing its market position in the gas wall-mounted boiler sector[38]. - Research and development expenses rose by 12.51% to 38,000,589.92 CNY, representing 2.43% of total revenue[70]. - The company has developed a new series of wall-mounted boilers, the Shuxin series-L0, which features intelligent flame adjustment technology for energy efficiency[30]. - The company has identified a significant market opportunity in the indoor air quality sector, driven by increasing consumer awareness and regulatory standards[105]. Corporate Governance and Compliance - The board meeting was attended by all directors, ensuring the report's approval and accuracy[6]. - The company guarantees the authenticity and completeness of the information provided for the transaction, assuming legal responsibility for any inaccuracies[123]. - The company has committed to avoiding related party transactions with significant influence on its operations, ensuring fairness and market-based pricing[124]. - The company has maintained compliance with its commitments since their inception in May 2011[124]. Market Position and Sales - The company operates in the thermal technology sector, focusing on energy efficiency and environmental solutions[12]. - The company's sales network covers major domestic and international markets, utilizing a diversified approach including retail, engineering, and e-commerce[29]. - The E2B segment contributed CNY 848.92 million, accounting for 54.33% of total revenue, while the E2C segment saw a significant increase of 19.68% to CNY 696.92 million, representing 44.60% of total revenue[56]. - The company's revenue from the Northern region increased by 46.69% to CNY 528.29 million, making up 33.81% of total revenue[56]. Investment and Financing - The company raised a total of 600 million yuan from the public offering of convertible bonds, with a net amount of 588.56 million yuan after deducting issuance costs[91]. - The company plans to invest CNY 280 million in the construction of the Disen Incubator Park project, aimed at fostering high-level talent and innovation[52]. - The company has not changed the use of raised funds, and the remaining funds are stored in a dedicated account for future operational needs[90]. Social Responsibility - The company has a commitment to social responsibility, actively participating in community support and charitable activities[158]. - The company donated a total of 35,000 RMB to the Guangdong Education Foundation and 50,000 RMB to the Huangpu District Charity Association in 2020[158].

Financial Performance - The company's operating revenue for Q1 2021 was CNY 310,385,492.88, representing a 94.34% increase compared to CNY 159,714,809.84 in the same period last year[9]. - The net profit attributable to shareholders was CNY 6,379,962.55, a significant turnaround from a loss of CNY 17,177,865.62 in the previous year, marking a 137.14% improvement[9]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 4,582,831.33, compared to a loss of CNY 17,851,136.62 last year, reflecting a 125.67% increase[9]. - The basic earnings per share increased to CNY 0.02 from a loss of CNY 0.05, showing a 140.00% improvement[9]. - The total operating revenue for Q1 2021 was CNY 310,385,492.88, a significant increase of 94.3% compared to CNY 159,714,809.84 in the same period last year[53]. - The total operating costs for Q1 2021 amounted to CNY 301,485,492.38, up 68.7% from CNY 178,713,743.56 in Q1 2020[53]. - The net profit for Q1 2021 reached CNY 49,018,184.30, up 87.0% from CNY 26,188,529.16 in the previous year[58]. - The total profit for Q1 2021 was CNY 49,661,711.18, an increase of 95.4% from CNY 25,404,720.57 in the previous year[58]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,129,371,528.01, down 5.52% from CNY 3,312,267,307.04 at the end of the previous year[9]. - The company's total assets as of March 31, 2021, were CNY 3,129,371,528.01, a decrease from CNY 3,312,267,307.04 at the end of 2020[47]. - Total liabilities decreased to CNY 1,373,493,604.41 from CNY 1,519,998,839.15 at the end of 2020, reflecting a reduction of 9.6%[47]. - Total liabilities amounted to CNY 1,519,998,839.15, with current liabilities at CNY 973,679,504.31 and non-current liabilities at CNY 546,319,334.84[65]. - The company's total inventory is valued at CNY 3,956,212.22[66]. Cash Flow - The net cash flow from operating activities improved by 33.91%, amounting to CNY -42,501,703.37 compared to CNY -64,304,321.48 in the previous year[9]. - The company reported a significant increase in cash flow from operating activities, totaling CNY 312,150,109.49, compared to CNY 194,181,330.20 in the same period last year[60]. - Total cash inflow from operating activities was 334,893,208.60 CNY, while cash outflow was 377,394,911.97 CNY, resulting in a net cash flow of -42,501,703.37 CNY[61]. - The ending cash and cash equivalents balance was 275,393,039.37 CNY, down from 557,832,767.37 at the beginning of the period[61]. - The company’s cash flow from operating activities showed a net increase of 39,681,431.94 CNY compared to a mere 493,526.21 CNY in the previous period[62]. Investments and Projects - The company has ongoing projects with a total investment amount of CNY 175.77 million, with 43 projects currently in the operational phase[22]. - The investment in the clean energy boiler expansion project at Changzhou Boiler Co., Ltd. is CNY 8,705.2 million, with 32.24% of the total investment completed[35]. - The investment in the home environment technology company’s industrial park transformation project is CNY 13,855 million, with only 5.79% of the total investment completed[35]. - The company has fully repaid bank loans amounting to CNY 18,000 million, achieving a 100% completion rate[35]. Shareholder Information - The top ten shareholders hold a combined 45.65% of the company's shares, with the largest shareholder owning 13.65%[14]. - The company has not reported any violations of commitments made by actual controllers and shareholders during the reporting period[28]. - The actual controllers have adhered to commitments regarding non-competition and fund occupation since May 2011[29]. - The actual controllers of the company have adhered to commitments made in 2011 regarding the reduction and regulation of related party transactions, with no violations reported[30]. Compliance and Governance - The company is in compliance with various commitments regarding the accuracy and completeness of information provided in acquisition reports[29]. - The company has undertaken measures to ensure that all documents related to major asset restructuring are authentic and accurate[29]. - The company has committed to ensuring that the implementation of immediate return measures is strictly adhered to, with penalties for any violations[31]. - The company has committed to not using company assets for personal benefit or to interfere with company management activities[31]. Risks and Challenges - The company faces risks related to macroeconomic conditions, including ongoing pandemic impacts and geopolitical tensions, which may affect its future operations[24]. - The company is at risk of asset impairment and disposal losses due to potential mismatches between designed and actual energy usage in operational projects, especially in a declining macroeconomic environment[27]. - In 2020, due to the pandemic, the company faced risks related to accounts receivable collection, potentially impacting cash flow and operational performance[26].

Financial Performance - Operating revenue for the third quarter was CNY 455,056,587.66, representing a year-on-year growth of 12.23%[7] - Net profit attributable to shareholders was CNY 36,642,728.17, up 2.19% from the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 48,426,354.50, a significant increase of 63.05% year-on-year[7] - The company achieved a total operating revenue of RMB 918.88 million for the first three quarters, a decrease of 5.86% compared to the same period last year, primarily due to the impact of COVID-19[22] - The net profit attributable to shareholders for the first three quarters was RMB 40.13 million, down 55.90% year-on-year, with a significant loss of RMB 17.18 million in Q1 due to business disruptions[22] - In Q3, the company reported a net profit of RMB 36.64 million, representing a year-on-year increase of 2.19%[22] - The total profit for Q3 2020 was CNY 73,984,817.03, a decrease of 49.1% compared to CNY 145,333,867.47 in the previous year[67] Cash Flow and Liquidity - The net cash flow from operating activities was CNY 114,115,498.56, down 8.97% compared to the previous quarter[8] - The net cash flow from operating activities for the first three quarters was RMB 122.85 million, a decline of 50.66% year-on-year, with Q1 showing a negative cash flow of RMB 64.30 million[23] - Cash and cash equivalents decreased by RMB 283.26 million, a drop of 51.37%, mainly due to repayment of bank loans and investments in financial products[24] - The company's operating cash flow for the period was CNY 122,846,341.36, a decline of 50.7% from CNY 249,001,033.49 in the same quarter last year[72] - The total cash inflow from investment activities was 91,253,334.40 CNY, while cash outflow was 308,137,043.52 CNY, resulting in a net cash flow of -216,883,709.12 CNY[73] - The cash flow from financing activities showed a net outflow of -177,780,089.26 CNY, compared to -155,886,910.07 CNY in the previous period, indicating a decline in financing efficiency[73] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 3,521,680,950.65, an increase of 3.92% compared to the end of the previous year[7] - The total number of shares outstanding was 372,826,534 at the end of the reporting period[9] - The company's total liabilities increased to RMB 1.74 billion from RMB 1.58 billion, representing a growth of approximately 10%[49] - The company reported a decrease in short-term borrowings to RMB 192.25 million from RMB 230.89 million[49] - The company’s total current assets amounted to 1,431,965,753.93 CNY, indicating stable liquidity position[78] - Total liabilities reached CNY 1,576,446,630.48, with current liabilities at CNY 942,042,188.69[80] Shareholder Information - The company has a total of 19,360 common shareholders at the end of the reporting period[16] - The top three shareholders hold a combined 32.76% of the shares, with the largest shareholder owning 14.03%[16] - The company repurchased a total of 10,100,000 shares, accounting for 2.78% of the total share capital, with a total payment of approximately RMB 50.32 million[40] Research and Development - The company plans to continue investing in research and development, with R&D expenses reported at CNY 7,438,431.38 for Q3 2020, slightly down from CNY 8,170,239.93 in Q3 2019[55] - Research and development expenses increased to CNY 1,905,225.24 from CNY 1,737,195.06, marking a rise of 9.7%[60] Other Financial Metrics - Basic earnings per share remained at CNY 0.10, unchanged from the previous quarter[8] - The weighted average return on equity was 2.52%, an increase of 8.62% compared to the previous quarter[8] - The company reported a significant increase in other receivables, rising to CNY 526,676,623.71 from CNY 481,188,994.74, an increase of 9.4%[51] - The company recorded an investment loss of CNY 22,894,862.07 compared to a profit of CNY 57,427,687.03 in the previous year[60]

Financial Performance - The company's operating revenue for the first half of 2020 was approximately ¥463.82 million, a decrease of 18.71% compared to the same period last year[18]. - The net profit attributable to shareholders of the listed company was approximately ¥3.49 million, down 93.68% year-on-year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥1.25 million, a decline of 95.50% compared to the previous year[18]. - The net cash flow from operating activities was approximately ¥8.73 million, a decrease of 92.94% year-on-year[18]. - Basic earnings per share were ¥0.01, down 93.33% from ¥0.15 in the same period last year[18]. - Total assets at the end of the reporting period were approximately ¥3.31 billion, a decrease of 2.45% from the end of the previous year[18]. - The weighted average return on net assets was 0.23%, down 3.53% from the previous year[18]. - The net assets attributable to shareholders decreased by 5.00% to ¥1,455,873,848.88 compared to the previous period[19]. - The company reported a comprehensive diluted earnings per share of ¥0.0096[20]. - The company reported a significant decline in earnings before interest, taxes, depreciation, and amortization (EBITDA) by 53.50% year-on-year, primarily due to the impact of COVID-19[178]. Investment and Projects - During the reporting period, the company operated 66 investment and operation projects, with 52 projects already in operation[26]. - The company plans to invest CNY 280 million in the construction of the Disen Incubation Park project, which is currently under construction[50]. - The company has secured contracts for over 110,000 wall-mounted boilers during the reporting period, including projects for 37,400 units and 20,000 units in specific bidding projects[49]. - The company has launched new products in the air purification sector, including medium-sized floor-standing fresh air machines and air purification disinfection machines[48]. - The company has initiated a project to handle over 10,000 tons of solid waste annually, addressing environmental concerns and contributing to local ecological initiatives[147]. Cash Flow and Financial Management - The net cash flow from operating activities dropped by 92.94% to approximately 8.73 million, significantly impacted by delayed sales collections due to COVID-19[54]. - The net cash flow from investment activities decreased by 65.38% to approximately -66.78 million, mainly due to a reduction in the balance of principal-protected financial products[54]. - The net cash flow from financing activities decreased by 379.86% to approximately -156.20 million, influenced by the repayment of bank loans and the absence of convertible bond fundraising[54]. - The company's cash and cash equivalents decreased significantly by 1,476.40% to approximately -214.18 million, primarily due to the impact of COVID-19 on sales collections[54]. - The company reported a significant increase in prepayments, which totaled CNY 29,424,789.93 compared to CNY 31,551,336.99, reflecting a decrease of about 6.8%[192]. Market and Product Development - The company focuses on clean energy investment and operation, providing comprehensive energy solutions to industrial and commercial users[25]. - The company has developed an IoT boiler operation platform in collaboration with Alibaba Cloud, enhancing automation and efficiency[28]. - The company’s smart home division offers a range of products under the "Little Squirrel" and "Loyalty" brands, covering various home comfort solutions[28]. - The company’s new air system market is expected to expand significantly, driven by increasing consumer demand for improved indoor air quality[40]. - The company is actively promoting product upgrades and expanding retail channels, particularly in the southern market, to enhance brand influence and market share[94]. Risk Management and Challenges - The company has faced significant risks and challenges, which are detailed in the report[5]. - The company emphasizes the importance of investor awareness regarding potential investment risks[5]. - The company is monitoring the impact of customer financial difficulties on accounts receivable, which may adversely affect cash flow and operational performance[94]. - The company has identified risks related to asset impairment and disposal losses due to potential mismatches between designed and actual energy consumption in its projects[95]. - The company is committed to strengthening post-investment management of its acquired entities to mitigate risks associated with goodwill impairment[95]. Corporate Governance and Compliance - The company has not engaged in any investor communication activities during the reporting period[96]. - Devotion Energy Group Limited has committed to providing truthful, accurate, and complete information regarding the acquisition of 100% equity in Guangzhou Disen Home Boiler Manufacturing Co., Ltd[103]. - The company has confirmed that it has fulfilled its capital contribution obligations to Disen Home Boiler and that there are no violations of shareholder responsibilities[105]. - The company has committed to avoiding related party transactions that could harm shareholder interests, ensuring fair pricing based on market standards[107]. - The company has not reported any violations of commitments made regarding related party transactions and corporate governance[110]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[140]. - The total emissions of nitrogen oxides from Hangzhou Dida Clean Energy Co., Ltd. were 1.2944 tons, with an annual limit of 78.7 tons[140]. - The company has achieved compliance with emission standards for organized and unorganized emissions, including particulate matter, sulfur dioxide, and nitrogen oxides, meeting the GB 13271-2014 standards[142]. - The company has implemented a low-nitrogen combustion system and selective non-catalytic reduction for flue gas treatment[141]. - The company processed wastewater through sedimentation before reuse for coal burning and site humidification[141].

Financial Performance - Total operating revenue for Q1 2020 was ¥159,714,809.84, a decrease of 40.74% compared to the same period last year[7] - Net profit attributable to shareholders was -¥17,177,865.62, representing a decline of 152.25% year-over-year[7] - Net cash flow from operating activities was -¥64,304,321.48, a decrease of 160.01% compared to the previous year[7] - Basic and diluted earnings per share were both -¥0.0473, down 152.21% from the previous year[7] - The company's overall revenue declined due to the impact of the COVID-19 pandemic, with significant drops in both the clean energy investment and operation (B-end) and clean energy application equipment (B-end) sectors[24] - The net profit for Q1 2020 was CNY -17,776,032.26, compared to a net profit of CNY 47,798,456.46 in the same period last year, indicating a significant decline[65] - The total profit for Q1 2020 was CNY -17,162,665.50, a decrease from CNY 55,402,276.24 in the previous year[64] - The total comprehensive income for Q1 2020 was CNY -17,776,032.26, compared to CNY 47,798,456.46 in the previous year, indicating a substantial decline[68] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,173,740,354.12, a decrease of 6.35% from the end of the previous year[7] - Total liabilities decreased by CNY 78.64 million, a decline of 34.06%, as a result of loan repayments[18] - The total current assets decreased from 1,431,965,753.93 RMB to 1,246,041,815.47 RMB, indicating a reduction of about 13.0%[56] - The company's total assets as of March 31, 2020, amounted to CNY 2.10 billion, an increase from CNY 2.06 billion at the end of 2019[60] - Total liabilities decreased to CNY 1.41 billion in Q1 2020 from CNY 1.58 billion in Q4 2019, indicating a reduction of 10.47%[61] - The total equity attributable to shareholders was CNY 1,532,509,448.87, while total equity amounted to CNY 1,812,452,719.05[79] Cash Flow - Cash and cash equivalents decreased by CNY 370.09 million, a decline of 67.12%, primarily due to the purchase of principal-protected financial products and repayment of bank loans[18] - The cash flow from operating activities for Q1 2020 was CNY -64,304,321.48, worsening from CNY -24,731,182.66 in the previous year[71] - The company reported a cash balance of CNY 3.94 million as of March 31, 2020, compared to CNY 131.42 million at the end of 2019, indicating a significant liquidity reduction[59] - The total cash and cash equivalents at the end of the period decreased to 3,936,256.56 RMB from 664,680,106.36 RMB in the previous period[76] - The company experienced a net increase in cash and cash equivalents of -127,482,838.07 RMB, contrasting with an increase of 618,910,697.38 RMB in the previous period[76] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 19,268[11] - The largest shareholder, Chang Hou Chun, holds 14.03% of the shares, totaling 50,919,599 shares[11] - The company repurchased a total of 3,500,000 shares, accounting for 0.96% of the total share capital, with a total payment of 19,348,711.51 yuan (excluding transaction fees) as of the report date[42] Investment and Projects - The company has invested 5,749.33 million yuan (21.29%) in the project to expand the annual production of 20,000 tons of clean energy boilers by the end of 2022[45] - The company has invested 13,855.75 million yuan (92.38%) in the comfortable home industrial park project, with a total commitment of 15,000 million yuan[45] - The strategic cooperation agreement with Country Garden for joint exploration in the heating sector has not yet resulted in a formal contract, leaving the specifics uncertain[37] Risks and Challenges - The company is facing risks from a slowing macroeconomic environment, which has led to decreased demand and orders from downstream customers[32] - The company is also exposed to risks related to natural gas price fluctuations and supply limitations, which could impact its commercial gas operation projects[32] - Increased competition in the wall-hung boiler industry poses a risk, as more market players enter the sector, necessitating continuous product and service innovation[33] Research and Development - Research and development expenses decreased by CNY 2.88 million, a decline of 32.82%, due to the completion of some R&D projects[20] - Research and development expenses for Q1 2020 were CNY 5.90 million, down from CNY 8.78 million in Q4 2019, a decrease of 32.93%[63] - The company holds a total of 266 valid patents, including 47 invention patents and 204 utility model patents, with 2 new utility model patents added in the first quarter of 2020[30] Accounting and Compliance - The company is undergoing a change in accounting policy due to the implementation of new revenue standards effective January 1, 2020[8] - There were no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[50][51] - The first quarter report was not audited, indicating a preliminary financial position[82] - The company has not disclosed any adjustments or changes in accounting policies for the current reporting period[82]