无锡雪浪环境科技股份有限公司 2017 年第三季度报告全文 无锡雪浪环境科技股份有限公司 2017 年第三季度报告 2017 年 10 月 无锡雪浪环境科技股份有限公司 2017 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。 公司负责人杨建平、主管会计工作负责人马琪及会计机构负责人(会计主管 人员)马琪声明：保证季度报告中财务报表的真实、准确、完整。 1 无锡雪浪环境科技股份有限公司 2017 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 □ 是 √ 否 | | 本报告期末 | | 上年度末 | 本报告期末比上 | | --- | --- | --- | --- | --- | | | | | | 年度末增减 | | 总资产（元） | | 1,818,651,789.39 | 1,618,065,972.81 | 12.40% | | 归属于上市公司股东的 ...

Financial Performance - Total operating revenue for the first half of 2017 was CNY 370,656,039.30, representing a 21.15% increase compared to CNY 305,958,386.51 in the same period last year[19]. - Net profit attributable to shareholders was CNY 36,296,330.21, up 10.67% from CNY 32,796,246.66 in the previous year[19]. - Net profit after deducting non-recurring gains and losses was CNY 35,097,445.46, an increase of 14.18% from CNY 30,739,044.43 year-on-year[19]. - Basic earnings per share rose to CNY 0.3025, a 10.68% increase from CNY 0.2733 in the same period last year[19]. - The company's total assets at the end of the reporting period were CNY 1,755,294,398.40, reflecting an 8.48% increase from CNY 1,618,065,972.81 at the end of the previous year[19]. - The net cash flow from operating activities improved to -CNY 60,170,836.82, a 44.83% reduction in losses compared to -CNY 109,069,980.23 in the previous year[19]. - The weighted average return on net assets was 4.62%, slightly up from 4.60% in the previous year[19]. - The company achieved a revenue of 370.656 million yuan, an increase of 21.15% compared to the same period last year[26]. - The net profit attributable to the parent company was 36.2963 million yuan, up 10.67% year-on-year[36]. Investments and Expenditures - Research and development investment increased by 70.34% to ¥8,238,939.06 from ¥4,836,797.13, indicating a strong focus on innovation[45]. - The company’s total investment during the reporting period was ¥32,000,000.00, a significant increase of 540.00% compared to ¥5,000,000.00 in the previous year[54]. - The company invested CNY 32,000,000.00 in new projects during the first half of 2017, indicating a focus on expansion and development[174]. Business Operations and Strategy - The company signed major contracts totaling approximately 360 million yuan during the reporting period, indicating a robust order backlog[26]. - The company is expanding its hazardous waste disposal business, particularly in the Shanghai area, to enhance its operational capacity[27]. - The company plans to continue expanding its hazardous waste disposal business in Shanghai, supported by the progress of the Shanghai Changying project[39]. - The company is pursuing external growth through acquisitions, including a 51% stake in Jiangsu Huifeng, but some projects are still in negotiation or application stages[76]. - The company has introduced a new waste management technology that is expected to reduce operational costs by 15%[89]. Risk Management - The company is facing risks from increasing competition in the environmental protection industry and plans to strengthen its core competitiveness[71]. - The company is managing accounts receivable risks by analyzing customer credit status and implementing a collection incentive mechanism[72]. - The company is at risk of losing tax incentives as its high-tech enterprise qualification is nearing expiration, and it is currently under review[73]. - The average steel price index has increased compared to last year, posing a risk of rising raw material costs for the company[74]. Legal and Compliance - The company has not encountered any major changes in the feasibility of the investment projects during the reporting period[61]. - The company has not reported any issues or other circumstances regarding the use and disclosure of raised funds[62]. - The company has committed to not engage in high-risk investments such as securities or derivatives for the next 12 months, ensuring the use of raised funds is aligned with its main business operations[92]. - The company has no major litigation or arbitration matters pending during the reporting period, indicating a stable legal standing[95]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[120]. - The emissions of hydrochloric acid were measured at 1.98 mg/m³, below the regulatory limit of 4.40 mg/m³[120]. - The emissions of lead and its compounds were recorded at 0.05 mg/m³, under the limit of 0.11 mg/m³[120]. - Nitrogen oxides emissions were reported at 33.7 mg/m³, significantly lower than the limit of 74.98 mg/m³[120]. - Mercury emissions were at 0.00 mg/m³, well below the threshold of 0.01 mg/m³[120]. - Fluoride emissions were measured at 0.24 mg/m³, under the limit of 0.53 mg/m³[120]. - The company has established monitoring protocols for air, water, noise, and solid waste, with no exceedances reported[123]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[6]. - Major shareholder Yang Jianping holds 39.24% of the shares, totaling 47,086,200, with 35,314,650 shares under lock-up[140]. - Shareholder Xu Huifen owns 8.12% of the shares, totaling 9,741,480, with 7,541,480 shares under lock-up[141]. - The total number of shares held by directors and senior management remained unchanged at 60,636,240 shares[149]. Future Outlook - The company expects a revenue growth of 25% for the second half of 2017, driven by new product launches and market expansion strategies[89]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2018[89]. - A strategic acquisition of a local competitor is anticipated to enhance the company's service capabilities and market reach[90].

Financial Performance - Total operating revenue for Q1 2017 was CNY 150,196,286.88, representing a 16.14% increase compared to CNY 129,323,733.36 in the same period last year[8]. - Net profit attributable to shareholders was CNY 13,859,550.65, up 9.49% from CNY 12,657,996.02 year-on-year[8]. - Basic earnings per share increased to CNY 0.1155, reflecting a growth of 9.48% compared to CNY 0.1055 in the previous year[8]. - The company reported a net profit for Q1 2017 of CNY 15,351,670.01, slightly up from CNY 15,167,882.42 in Q1 2016, representing a growth of 1.2%[63]. - The net profit attributable to shareholders of the parent company was CNY 13,859,550.65, compared to CNY 12,657,996.02 in the previous year, marking an increase of 9.5%[62]. - Basic and diluted earnings per share for Q1 2017 were both CNY 0.1155, up from CNY 0.1055 in Q1 2016, reflecting a growth of 9.5%[63]. Cash Flow - The net cash flow from operating activities was negative at CNY -63,432,461.66, a decline of 58.11% from CNY -40,120,270.69 in the same period last year[8]. - Cash inflow from operating activities was CNY 218,195,502.90, compared to CNY 186,467,296.95 in the same period last year, representing an increase of 17.0%[68]. - The net cash flow from operating activities was -CNY 63,432,461.66, worsening from -CNY 40,120,270.69 in the previous year[69]. - Cash outflow from investing activities totaled CNY 60,915,047.52, compared to CNY 30,452,871.90 in the previous year, indicating a significant increase in investment[69]. - Cash inflow from financing activities was CNY 132,000,000.00, a substantial increase from CNY 41,233,030.07 in the previous year[70]. - The net cash flow from financing activities improved to CNY 35,893,726.76, compared to CNY 9,548,310.11 in the previous year[70]. - The company reported a cash flow net decrease of CNY 83,438,093.10 for the quarter, compared to a decrease of CNY 61,021,115.13 in the same period last year[70]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,660,297,986.73, a 2.61% increase from CNY 1,618,065,972.81 at the end of the previous year[8]. - Total liabilities increased to CNY 816,792,996.90 from CNY 774,912,652.99, marking an increase of about 5.4%[53]. - The company's total equity remained stable at CNY 843,504,989.83, slightly up from CNY 843,153,319.82[54]. - The total amount of raised funds is ¥258,105,400, with ¥19,926,600 invested in the current quarter[41]. - Cumulative investment from raised funds reached ¥256,056,400, with no changes in usage reported[41]. Operational Challenges - The company faced risks from rising costs due to increasing prices of raw materials, particularly steel, which significantly impacts production costs[11]. - The competitive landscape is intensifying as more companies enter the environmental protection sector, prompting the company to enhance its technological capabilities and quality management[12]. - The company’s cash flow from operating activities showed a net outflow, indicating challenges in cash generation despite revenue growth[73]. Investments and Projects - The company signed significant contracts for environmental purification systems, with ongoing projects in Chengdu and Guangzhou[25]. - The company is actively promoting an investment project in Shanghai Changying, which will lay the foundation for expanding hazardous waste disposal business in Shanghai[29]. - The company intends to invest 70 million yuan to acquire a 20% stake in Shanghai Changying, which has a planned capacity of 25,000 tons/year for hazardous waste disposal[32]. - The company has made significant progress in key R&D projects, including a new method for dioxin removal during solid waste incineration and a high-efficiency ammonia control system for SNCR denitrification[27]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 11,053, with the largest shareholder holding 39.24% of the shares[17]. - The company has undergone a board and supervisory committee reshuffle, with new members elected during the annual shareholders' meeting[34]. - The company reported a cash dividend policy for 2016, distributing CNY 1.25 per 10 shares, approved by the shareholders' meeting on March 6, 2017[44]. Legal and Compliance Issues - The company is in the process of enforcing a compensation ruling against a supplier for losses incurred due to defective products, with the case currently in the enforcement stage[35]. - The company signed a contract with Kaitailong for the purchase of SCR catalysts, but the catalysts were found to be inactive, leading to a claim for compensation totaling ¥5,362,379.746[36]. - The arbitration ruling required Kaitailong to pay ¥3,968,572.61 for refunds and compensation, which remains unpaid as of the report date[37].

Financial Performance - The company's operating revenue for 2016 was ¥696,323,053.76, representing a 20.15% increase compared to ¥579,539,439.76 in 2015[24]. - Net profit attributable to shareholders for 2016 was ¥88,707,252.26, a significant increase of 56.84% from ¥56,559,343.04 in 2015[24]. - The basic earnings per share for 2016 was ¥0.7392, up 56.84% from ¥0.4713 in 2015[25]. - The total assets at the end of 2016 amounted to ¥1,618,065,972.81, reflecting a 15.06% increase from ¥1,406,340,675.34 at the end of 2015[25]. - The total profit amounted to ¥133,481,827.59, reflecting a year-on-year growth of 58.73%[56]. - The company achieved a net profit of 88,707,252.26 RMB for the year 2016, with a distributable profit of 298,966,811.33 RMB[125]. - The company reported a total revenue of 1.5 billion RMB for the year 2016, representing a year-on-year growth of 20%[143]. Cash Flow and Dividends - The company reported a net cash flow from operating activities of -¥18,284,287.69 for 2016, a decline of 150.47% from ¥36,227,074.85 in 2015[25]. - A cash dividend of 1.25 RMB per 10 shares was distributed, totaling 15,000,000 RMB, which represents 16.91% of the net profit attributable to shareholders[126]. - The cash dividend accounted for 100% of the profit distribution total for the year[122]. - The company has maintained a consistent cash dividend payout ratio over the past three years, with 21.22% in 2015 and 17.39% in 2014[126]. Accounts Receivable and Inventory - The accounts receivable balance at the end of the reporting period was ¥452,673,152.71, an increase of 38.48% compared to the same period last year, accounting for 27.98% of the total assets[6]. - Accounts receivable rose by 38.48% year-on-year, attributed to the expansion of sales scale[39]. - Inventory increased by 53.37% compared to the previous year, driven by an increase in executed orders[39]. Strategic Goals and Market Position - The company is focusing on internal growth and external expansion, having acquired Wuxi Industrial Waste and invested in Jiangsu Huifeng, aiming to enhance its influence and processing capacity in the Yangtze River Delta region[9]. - The company has set a strategic goal to enhance management effectiveness in response to the increasing number of subsidiaries and diverse business areas post-listing[10]. - The company aims to utilize national environmental policies to boost its market position and brand recognition[110]. - The company is positioned to benefit from the supply-side structural reforms aimed at improving production efficiency and addressing environmental issues in the steel industry[47]. Research and Development - The company holds 96 patents, including 55 utility model patents and 41 invention patents, reflecting its strong emphasis on R&D and technological innovation[40]. - Research and development (R&D) investment increased to ¥22,202,111.99, representing 3.19% of operating revenue, up from 2.71% in 2015[81]. - Investment in R&D for new technologies increased by 30%, totaling 300 million RMB, focusing on environmental technology innovations[143]. Market Expansion and New Products - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2018[144]. - New product launches are expected to contribute an additional 200 million RMB in revenue, with a focus on eco-friendly technologies[142]. - The company aims to launch three new products in 2017, which are anticipated to contribute an additional 200 million RMB in revenue[143]. Risk Management and Competition - The company acknowledges the risk of intensified market competition in the environmental protection industry, driven by macroeconomic pressures and the entry of new players[8]. - The company has identified risks related to rising steel prices, which have been increasing due to supply-side reforms, potentially impacting cost control if prices continue to rise in 2017[5]. - The comprehensive steel price index has been on the rise from 2015 to 2016, posing a significant challenge to the company's cost control efforts[5]. Compliance and Governance - The company has complied with all relevant regulations and commitments as per the Shenzhen Stock Exchange rules[148]. - The company is committed to maintaining compliance with national laws and regulations in its operations[148]. - The company has established a commitment to fulfill its obligations regarding stock price stabilization measures[130]. Shareholder Relations and Stock Management - The company will require new directors and senior management to sign commitments to uphold the stock stabilization obligations[130]. - The company has committed to a lock-up period of 36 months post-IPO, during which no shares will be transferred or repurchased[132]. - The company has engaged in stock pledges, with significant shares pledged by major shareholders, indicating potential liquidity management strategies[194][196]. Legal and Arbitration Matters - The company is involved in a legal arbitration case with a claim amount of 5,362,379.746 CNY, which includes compensation for goods, transportation, and legal fees[155]. - The company has reported a loss of 820.17 CNY related to the SCR catalyst due to its low activity, leading to its inability to be used and subsequent scrapping[154].

Financial Performance - Total operating revenue for the reporting period was ¥123,202,259.48, a decrease of 5.99% year-on-year[8]. - Net profit attributable to shareholders was ¥7,710,817.76, representing a growth of 37.28% compared to the same period last year[8]. - Basic earnings per share increased by 37.39% to ¥0.0643[8]. - The company reported a net cash flow from operating activities of -¥74,632,935.54, a decline of 303.56% compared to the previous year[8]. - The company achieved operating revenue of 429.16 million CNY in the first three quarters of 2016, representing a year-on-year growth of 14.41%[28]. - The company reported a net profit of 50 million RMB for Q3 2016, representing a 20% increase year-over-year[41]. - Total operating revenue for Q3 2016 was CNY 123,202,259.48, a decrease of 5.8% compared to CNY 131,055,725.97 in Q3 2015[83]. - Net profit for Q3 2016 was CNY 9,931,394.65, an increase of 59.5% from CNY 6,235,728.13 in the same period last year[84]. - Total operating revenue for the third quarter reached CNY 429.16 million, an increase of 14.4% compared to CNY 375.12 million in the same period last year[90]. - The total comprehensive income for the quarter was CNY 49.41 million, compared to CNY 44.05 million in the same period last year, marking a growth of 12.5%[93]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,558,586,507.05, an increase of 10.83% compared to the previous year[8]. - The total liabilities increased from approximately 654 million RMB to about 769 million RMB, representing a growth of around 17.5%[75]. - The company's equity attributable to shareholders rose from approximately 699 million RMB to about 728 million RMB, an increase of about 4.1%[76]. - The company's cash and cash equivalents decreased from approximately 167 million RMB to about 133 million RMB during the reporting period[72]. - Accounts receivable increased from approximately 327 million RMB to about 369 million RMB, indicating a growth of around 12.5%[72]. - Inventory rose from approximately 123 million RMB to about 153 million RMB, reflecting an increase of about 24.5%[73]. - Short-term borrowings surged from approximately 121 million RMB to about 266 million RMB, marking an increase of approximately 119%[75]. Cash Flow - The company reported a net increase in cash and cash equivalents of CNY -6,446,951.27, compared to CNY -73,957,126.78 in the previous period, showing an improvement in cash management[102]. - Operating cash inflow for the current period was CNY 613,788,585.55, an increase of 33% from CNY 461,439,879.32 in the previous period[100]. - Net cash flow from financing activities was CNY 124,584,259.12, an increase of 111% from CNY 58,955,392.06 in the previous period[102]. - Cash received from other operating activities was CNY 21,494,503.97, compared to CNY 6,234,698.18 in the previous period, indicating growth in ancillary revenue streams[100]. Strategic Initiatives - The company plans to continue following the national supply-side reform policies to mitigate the impact of macroeconomic slowdown on its operations[11]. - The company aims to strengthen its internal control systems to manage risks associated with its expansion and increased number of subsidiaries[16]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[39]. - A strategic acquisition of a local competitor is in progress, which is anticipated to increase the company's market share by 5%[39]. - The company has allocated 200 million RMB for R&D in the upcoming fiscal year to innovate new environmental solutions[39]. - The company is exploring potential mergers and acquisitions to enhance its technological capabilities and market reach[45]. Operational Efficiency - The company aims to reduce operational costs by 15% through process optimization initiatives[39]. - The gross profit margin improved to 35%, up from 30% in the previous quarter, indicating better cost management[39]. - The company’s financial expenses increased by 34.62% to 32.87 million CNY, mainly due to higher loan interest expenses[27]. - The company reported a gross profit margin of approximately 13.9% for the quarter, slightly improved from the previous year's margin[90]. Compliance and Governance - The company has established measures to stabilize stock prices if the stock price falls below the net asset value per share within three years post-IPO[46]. - New directors and senior management are required to sign commitments regarding stock purchases to ensure alignment with shareholder interests[46]. - The company will implement a stock repurchase plan if necessary to stabilize stock prices[46]. - The company has a commitment to protect investors' rights and will compensate for losses due to false statements in the prospectus[47].

Financial Performance - Total revenue for the first half of 2016 was CNY 305,958,386.51, representing a 25.36% increase compared to CNY 244,061,169.31 in the same period last year[15]. - Net profit attributable to ordinary shareholders was CNY 32,796,246.66, up 7.25% from CNY 30,579,418.03 in the previous year[15]. - Basic earnings per share increased by 7.26% to CNY 0.2733 from CNY 0.2548 in the previous year[15]. - The net profit for the period was CNY 39,481,226.93, reflecting a year-on-year growth of 4.42%[25]. - The total profit for the first half of 2016 was CNY 38,278,635.16, an increase from CNY 24,186,993.34 in the same period of the previous year, representing a growth of approximately 58.5%[150]. - The net profit for the first half of 2016 reached CNY 32,405,407.15, compared to CNY 22,802,836.25 in the prior year, indicating a year-over-year increase of about 42%[150]. Cash Flow and Financial Position - Net cash flow from operating activities was negative CNY 109,069,980.23, a decrease of 627.90% compared to a positive CNY 20,661,096.09 in the same period last year[15]. - Cash inflow from operating activities totaled CNY 347,400,015.36, up from CNY 307,834,939.52 in the previous year, reflecting an increase of approximately 12.8%[151]. - Cash outflow from operating activities increased to CNY 456,469,995.59, compared to CNY 287,173,843.43 in the prior year, marking a rise of about 59%[153]. - The ending cash and cash equivalents balance was CNY 85,729,603.88, down from CNY 128,753,175.88 at the end of the previous year[154]. - Total assets at the end of the reporting period were CNY 1,526,023,060.58, an increase of 8.51% from CNY 1,406,340,675.34 at the end of the previous year[15]. - Total liabilities increased to CNY 746,518,273.81 from CNY 654,513,735.30, marking a growth of about 14.0%[138]. Investments and Acquisitions - The company plans to invest CNY 70 million to acquire a 20% stake in Shanghai Changying Environmental Services[29]. - The company aims to become the controlling shareholder of Lingxia Solid Waste by acquiring 51% of its shares[29]. - The company completed the acquisition of 100% equity of Wuxi Kangwei Dongfang Environmental Technology Co., Ltd. for a total price of 64 million yuan, with all payments and asset transfers finalized as of the report date[79]. - The company is currently involved in arbitration against Fangda Water Technology Engineering Co., Ltd. for compensation of 5,362,379.746 yuan due to defective SCR catalysts, with the case still pending[77]. Research and Development - Research and development investment reached ¥4,836,797.13, an increase of 11.41% compared to the previous year[36]. - The company has applied for two invention patents and two utility model patents during the reporting period, with four invention patents granted[27]. - The company is currently developing two significant R&D projects aimed at improving efficiency and reducing costs in waste gas purification and dioxin removal[48]. Shareholder and Equity Information - Shareholders' equity attributable to ordinary shareholders rose by 3.00% to CNY 719,664,354.04 from CNY 698,671,487.58 at the end of the previous year[15]. - The company distributed a cash dividend of 1 RMB per 10 shares, totaling 12 million RMB, to shareholders based on a total share capital of 120 million shares as of December 31, 2015[71]. - The company has not proposed any cash dividend distribution plan for the half-year period despite having positive undistributed profits[73]. - The largest shareholder, Yang Jianping, holds 39.24% of the shares, amounting to 47,086,200 shares, with 11,750,000 shares pledged[120]. Regulatory Compliance and Governance - The company guarantees the accuracy and completeness of the IPO prospectus, committing to repurchase all new shares if there are significant misstatements or omissions[99]. - The independent directors and supervisory board have fulfilled their responsibilities and ensured the protection of minority shareholders' rights[73]. - The company has committed to maintaining a competitive edge by not expanding into areas that may conflict with its existing business operations[104]. - The company has established measures to ensure the implementation of its commitments regarding the repurchase of shares[106]. Market Outlook and Strategic Plans - The company provided a positive outlook for the second half of 2016, projecting a revenue growth of 20%[102]. - New product launches are expected to contribute an additional 10% to overall revenue in the upcoming quarters[103]. - Market expansion plans include entering three new regions by the end of 2016, targeting a 5% market share in each[103]. - The company is considering strategic acquisitions to enhance its market position, with potential targets identified[102]. Operational Efficiency - Operating costs rose to ¥197,751,473.87, reflecting a 30.62% increase primarily due to the recognition of more revenue projects[36]. - The company achieved operating revenue of CNY 305,958,386.51, a year-on-year increase of 25.36% due to increased order execution and improved operational efficiency[36]. - The company’s gross profit margin for hazardous waste incineration disposal was 55.32%, reflecting a year-on-year increase of 11.54%[42].

无锡雪浪环境科技股份有限公司 2016 年第一季度报告全文 无锡雪浪环境科技股份有限公司 2016 年第一季度报告 2016 年 04 月 1 无锡雪浪环境科技股份有限公司 2016 年第一季度报告全文 第一节 重要提示 本公司董事会、监事会及其董事、监事、高级管理人员保证本报告所载资 料不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准 确性和完整性承担个别及连带责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人杨建平、主管会计工作负责人马琪及会计机构负责人(会计主管 人员)马琪声明：保证季度报告中财务报告的真实、完整。 2 无锡雪浪环境科技股份有限公司 2016 年第一季度报告全文 无锡雪浪环境科技股份有限公司 2016 年第一季度报告全文 | | 少数股东权益影响额（税后） | 30,704.11 | | | --- | --- | --- | --- | | 合计 | | 215,910.10 | -- | 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等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 ...

Financial Performance - The company's operating revenue for 2015 was ¥579,539,439.76, representing a 38.09% increase compared to ¥419,686,116.96 in 2014[24]. - The net profit attributable to shareholders for 2015 was ¥56,559,343.04, a 22.91% increase from ¥46,016,663.90 in the previous year[24]. - The net cash flow from operating activities improved significantly to ¥36,227,074.85, compared to a negative cash flow of -¥38,506,077.07 in 2014, marking a 194.08% change[24]. - The total assets at the end of 2015 reached ¥1,406,340,675.34, a 50.28% increase from ¥935,805,176.44 at the end of 2014[24]. - The total profit reached CNY 84,092,230.65, reflecting a year-on-year growth of 49.93%[45]. - The company achieved operating revenue of CNY 579,539,439.76, a year-on-year increase of 38.09%[45]. - The company’s basic earnings per share for 2015 were ¥0.4713, up 7.53% from ¥0.4383 in 2014[24]. - The weighted average return on net assets was 8.38%, down from 9.24% in the previous year[24]. Revenue Sources - The company generated ¥264,959,102.03 from flue gas purification, which grew by 7.07% year-on-year[34]. - Revenue from ash treatment was ¥171,713,889.27, reflecting a 2.67% increase compared to the previous year[35]. - The hazardous waste incineration and disposal business generated ¥105,426,314.21 in revenue, with a profit of ¥29,226,381.43[36]. - Revenue from waste incineration power generation reached ¥343,675,796.66, a 45.03% increase compared to ¥236,972,021.65 in the previous year[56]. - The steel segment generated ¥129,271,767.56 in revenue, accounting for 22.31% of total revenue, but saw a decline of 6.08% year-over-year[56]. Accounts Receivable and Cash Management - The accounts receivable balance at the end of the reporting period was ¥326,879,351.48, an increase of 29% compared to the same period last year, accounting for 23% of the company's total assets[8]. - The company has implemented a payment collection incentive mechanism since 2014, which has improved the collection rate of receivables[9]. - The company will continue to strengthen the pre-audit, in-process control, and post-supervision of accounts receivable to mitigate risks associated with high accounts receivable[9]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥1 per 10 shares (including tax) based on a base of ¥120,000,000, with no bonus shares issued[11]. - The company reported a cash dividend of RMB 12 million, representing 100% of the total distributable profit of RMB 230.59 million for the year[128]. - The company aims to maintain a minimum cash dividend payout ratio of 20% during its growth phase[130]. - The cash dividend for 2014 was ¥8,000,000, which accounted for 17.39% of the net profit of ¥46,016,663.90[133]. Business Expansion and Acquisitions - The company has acquired several subsidiaries, including Wuxi Industrial Waste Safe Disposal Co., Ltd., and has transitioned from a single equipment supplier to a comprehensive service provider in the industrial hazardous waste treatment sector[10]. - The company expanded its business scope by acquiring Wuxi Industrial Waste, which contributed to the growth in hazardous waste disposal services[37]. - The company plans to expand its hazardous waste treatment capabilities in Nanjing through the acquisition of Jiangsu Huifeng[49]. - The company secured contracts worth approximately CNY 1.15 billion for the Chengdu Wanxing Environmental Power Plant project[40]. Research and Development - The company’s R&D investment amounted to ¥15,723,345.80, representing 2.71% of total revenue, with 31 new patents granted during the reporting period[50]. - The company aims to enhance its core competitiveness through increased focus on technology and R&D, responding to the growing environmental industry[50]. - The company is actively involved in the research and development of environmental protection technologies[85]. Market Conditions and Risks - The company acknowledges risks from the declining profitability in the steel industry, which may affect its business volume, and plans to maintain deep cooperation with quality clients while exploring new business areas[7]. - The company recognizes the ongoing macroeconomic pressures and their potential impact on the environmental protection industry, which is closely tied to economic performance[6]. - The company is aware of the potential impact of the VAT reform on its profits, particularly for its subsidiary engaged in hazardous waste disposal, which previously enjoyed tax exemptions[11]. Compliance and Governance - The company has committed to ensuring the accuracy and completeness of its financial disclosures, as per its obligations during the IPO process[134]. - The company is committed to avoiding related party transactions that may lead to conflicts of interest[134]. - The company has established a framework for handling social security and housing fund liabilities, ensuring no financial burden falls on the company due to past obligations[145]. Future Outlook and Strategic Goals - The company provided a future outlook projecting a revenue growth of 25% for the next fiscal year, driven by new product launches and market expansion[152]. - The company plans to strengthen its market expansion efforts in 2016, aiming to increase order quantities by analyzing market dynamics and improving customer response times[119]. - The company aims to enhance its technological competitiveness by increasing R&D investment in 2016, focusing on market needs and collaboration with leading technical enterprises[115][116].

Financial Performance - Total revenue for the reporting period was CNY 131,055,725.97, representing a 45.22% increase year-on-year[6] - Net profit attributable to shareholders decreased by 17.94% to CNY 5,616,717.56 for the reporting period[6] - Basic earnings per share decreased by 18.04% to CNY 0.0468[6] - The weighted average return on net assets was 0.84%, down 22.83% compared to the same period last year[6] - The company reported a significant increase in revenue for Q3 2015, with a year-over-year growth of 25%[36] - The total operating revenue for the third quarter was CNY 131,055,725.97, an increase of 45.3% compared to CNY 90,247,399.16 in the same period last year[68] - The net profit for the period was CNY 6,235,728.13, a decrease of 8.9% from CNY 6,844,458.02 in the previous year[70] - The total profit for the current period is 52,118,677.61, compared to 44,327,904.29 in the previous period, indicating an increase of approximately 17.5%[77] Assets and Liabilities - Total assets increased by 41.51% to CNY 1,324,301,836.89 compared to the end of the previous year[6] - The company’s total liabilities increased to CNY 601,334,815.79 from CNY 285,889,332.55, showing a significant rise in financial obligations[61] - The company’s equity capital increased to CNY 120,000,000.00 from CNY 80,000,000.00, reflecting a capital increase strategy[61] - The company’s inventory rose to CNY 154,606,116.51 from CNY 117,635,682.17, marking an increase of approximately 31.4%[59] - The company’s cash and cash equivalents decreased to CNY 123,101,097.92 from CNY 180,239,328.00, indicating a decline of approximately 31.7%[58] Investments and Acquisitions - The company signed an investment cooperation framework agreement with Jiangsu Huifeng Tianyou Environmental Development Co., which may become a controlling subsidiary[10] - The company is considering strategic acquisitions to bolster its competitive position in the market, with a budget of $50 million allocated for potential deals[38] - The company has signed a purchase agreement for SCR catalyst from a U.S. supplier, indicating ongoing efforts in technology acquisition[48] - The company has initiated arbitration against Fangda Water Technology Engineering Co., claiming a total of CNY 5,362,379.746 for losses related to the purchase of SCR catalysts, which were found to be unusable due to low activity[50] Risk Management - The company is facing risks from macroeconomic downturns and intensified market competition in the environmental protection industry[10] - The company has implemented measures to manage accounts receivable risks, which remain significant[11] - The company has committed to not engage in high-risk investments such as securities investment or venture capital for the next 12 months[41] Shareholder Commitments - Major shareholder Yang Jianping holds 39.24% of the shares, with a portion pledged[14] - The company reported a total of 50,876,000 restricted shares at the beginning of the period, with 25,438,000 new restricted shares added, resulting in a total of 76,314,000 restricted shares by the end of the period[17] - The company has committed to not engaging in related party transactions involving leasing or similar agreements with shareholders[30] - The company will provide a 25-day notice before any stock reduction, detailing the reasons and future plans[30] Research and Development - The company is currently working on four major R&D projects aimed at improving efficiency and reducing emissions, with progress in operational debugging[22] - The company has obtained 2 new invention patents and 9 utility model patents in the reporting period[25] - Research and development expenses increased by 12%, focusing on innovative technologies to enhance product offerings[37] Future Outlook - The company provided a positive outlook for Q4 2015, projecting a revenue increase of 20% based on current market trends[38] - New product launches are expected to contribute an additional 10% to revenue in the upcoming quarter[39] - The company plans to focus on market expansion and new product development as part of its future strategy[74] Cash Flow Management - The cash inflow from operating activities was CNY 461,439,879.32, a significant increase from CNY 269,316,390.03 in the previous period, representing a growth of approximately 71.5%[84] - The net cash flow from operating activities was CNY 36,664,387.42, recovering from a negative cash flow of CNY -60,329,495.88 in the previous period[85] - The total cash outflow from investing activities was CNY 173,471,479.42, compared to CNY 43,402,405.96 in the previous period, indicating a substantial increase in investment expenditures[86]

Financial Performance - Total revenue for the first half of 2015 was CNY 244,061,169.31, representing a 14.78% increase compared to CNY 212,633,374.91 in the same period last year[15]. - Net profit attributable to ordinary shareholders was CNY 30,579,418.03, up 15.88% from CNY 26,387,807.24 in the previous year[15]. - Basic earnings per share rose to CNY 0.2548, reflecting a 15.87% increase from CNY 0.2199 in the previous year[15]. - The company reported non-recurring gains and losses totaling CNY 1,991,314.65 for the period[18]. - The company achieved a net profit attributable to shareholders of 30,579,418.03 yuan, an increase of 15.88% compared to the same period last year, primarily due to the inclusion of Wuxi Industrial Waste in the consolidated financial statements from January 1, 2015[36]. - The company reported a total comprehensive income of ¥30,579,418.03 for the current period[153]. Cash Flow and Investments - The net cash flow from operating activities improved significantly to CNY 20,661,096.09, a 136.46% increase from a negative CNY 56,670,374.66 in the same period last year[15]. - The company’s cash flow from operating activities showed a significant improvement, with a net cash inflow of CNY 20,661,096.09, a 136.46% increase compared to the previous year[29]. - The company reported a total cash outflow from investing activities of CNY 148,809,229.73, compared to CNY 8,884,468.62 in the previous period, indicating a substantial increase in investment expenditures[146]. - The company received CNY 297,446,522.72 from sales of goods and services, an increase from CNY 176,464,577.41 in the previous period, representing a growth of approximately 68.5%[145]. Assets and Liabilities - Total assets increased by 33.65% to CNY 1,250,671,104.79 from CNY 935,805,176.44 at the end of the previous year[15]. - The company’s total liabilities increased due to the consolidation of Wuxi Industrial Waste, which was included in the financial statements from January 1, 2015[30]. - The company’s total liabilities rose to CNY 413,553,035.98, compared to CNY 251,803,845.53, indicating a significant increase of 64.2%[137]. - The company’s cash and cash equivalents decreased to RMB 146,783,134.64 from RMB 180,239,328.00, reflecting a decline of approximately 18.5%[130]. Revenue Breakdown - Revenue from waste treatment reached 50,325,980.24 yuan, with a significant increase of 55.85% year-on-year, driven by the performance of Wuxi Industrial Waste[36]. - The company’s revenue from the steel sector was 57,947,220.58 yuan, reflecting a decrease of 8.66% year-on-year, while revenue from waste incineration power generation was 130,498,463.94 yuan, down 7.96% year-on-year[35]. - The East China region contributed 161,439,948.26 yuan in revenue, a growth of 40.20% year-on-year, while the South China region saw a revenue increase of 44.41% to 32,672,797.82 yuan[35]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares for this period[6]. - The company is currently developing several key projects, including a flue gas dry desulfurization system and a high-efficiency dioxin removal unit, with ongoing pilot system construction and debugging[41]. - The company’s strategic goal is to become an international leader in solid waste and gas treatment systems, focusing on technology application and industry chain extension[45]. - The company is considering strategic acquisitions to enhance its product offerings and market reach, with a budget of up to 50 million for potential deals[93]. Shareholder Information - The company implemented a cash dividend plan, distributing 1 RMB per 10 shares to shareholders, resulting in a total of 8 million RMB distributed[67]. - The total number of shareholders at the end of the reporting period is 4,925[116]. - Yang Jianping holds 39.24% of the shares, totaling 31,390,800 shares, with 7,688,268 shares pledged[116]. Compliance and Governance - The company has committed to transparency and compliance with regulatory standards to protect investor interests[93]. - The financial report was approved by the board of directors on August 18, 2015[164]. - The company has committed to ensuring the accuracy and completeness of its IPO prospectus, with ongoing compliance since June 2014[89]. Research and Development - Research and development expenses amounted to CNY 4,341,374.67, a decrease of 13.74% year-on-year[29]. - Ongoing research and development efforts are focused on innovative technologies, with an investment of 5 million in R&D for 2015[92]. Related Party Transactions - The company engaged in related party transactions, purchasing products from Beijing Huizhi Environmental Technology Co., Ltd. for 4,800,000 yuan, which accounted for 100% of similar transaction amounts[76]. - The company has no significant contracts or leasing matters that impacted profits by 10% or more during the reporting period[83]. Financial Reporting - The half-year financial report for 2015 has not been audited[103]. - The financial statements are prepared based on the accrual basis of accounting, in accordance with the relevant accounting standards[166].