Financial Performance - The company's operating revenue for the first half of 2020 was ¥499,049,364.64, a decrease of 8.49% compared to ¥545,367,324.25 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was ¥1,135,252.22, down 98.35% from ¥68,696,393.42 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was -¥9,565,532.17, a decline of 123.75% compared to ¥40,271,153.08 in the same period last year[20]. - The net cash flow from operating activities was -¥60,216,419.55, an improvement of 10.91% from -¥67,591,311.02 in the previous year[20]. - The total assets at the end of the reporting period were ¥3,725,561,297.30, an increase of 12.12% from ¥3,322,725,939.11 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company were ¥1,198,643,843.10, a decrease of 1.69% from ¥1,219,306,156.93 at the end of the previous year[20]. - The basic earnings per share were ¥0.0034, down 98.35% from ¥0.2062 in the previous year[20]. - The diluted earnings per share were also ¥0.0034, reflecting the same decline of 98.35% compared to ¥0.2062 in the previous year[20]. - The weighted average return on net assets was 0.09%, a decrease of 5.77% from 5.86% in the previous year[20]. Business Operations and Strategy - The company completed the acquisition of 72% equity in Shanghai Changying Environmental Services Co., which is expected to expand its hazardous waste disposal business and provide new growth points for performance[30]. - The company aims to enhance its competitive strength by improving technology and product quality while providing refined after-sales services[35]. - The company is actively developing several technologies, including high-speed rotary spray drying desulfurization technology and zero discharge wastewater treatment technology, to enhance its product offerings[39]. - The company has established a systematic technical standard and production model for waste gas treatment and ash handling systems, improving its operational efficiency[45]. - The introduction of state-owned capital through New Su Environmental has positioned the company for greater development opportunities and strategic collaborations[49]. - The company has focused on building a diverse talent pool to support its key manufacturing processes and technological advancements[40]. - The company has maintained a strong customer base and established partnerships with major enterprises, enhancing its brand reputation in the industry[38]. - The company is committed to technological innovation as a driving force for high-quality development, increasing its core competitiveness[48]. - The company has successfully navigated challenges posed by the COVID-19 pandemic while continuing to execute signed contracts and expand its market presence[45]. Market and Competition - The hazardous waste disposal industry is expected to see sustained demand due to stricter enforcement of regulations, although competition is intensifying[36]. - The company is facing risks related to macroeconomic fluctuations, which may lead to reduced orders and slower payment collection[77]. - The company plans to actively explore new markets while maintaining customer relationships to mitigate risks associated with economic downturns[78]. - The company faces increasing market competition risks due to the development of competitors and new entrants, which may lead to a decline in gross margins if product costs are not effectively managed[79]. Financial Management and Risks - The company has increased financial pressure due to acquisitions, necessitating stronger financial management and risk control to maintain a reasonable asset-liability structure[84]. - There is a risk of goodwill impairment from the acquisitions; if the performance of Nanjing Excellence or Shanghai Changying does not meet expectations, it could significantly impact the company's financial results[82]. - Accounts receivable may increase with the expansion of the company's business, posing liquidity risks; the company plans to enhance internal controls to monitor and manage accounts receivable effectively[80]. Legal and Compliance - The company reported a significant lawsuit involving Xi'an Sanrui Industrial Co., Ltd. with a claim amount of 2.6996 million yuan, resulting in a loss for the company[97]. - The company is currently involved in a retrial regarding a contract dispute with Dafeng Port and Shun Technology Co., Ltd., with a claim amount of 43.1711 million yuan, which has been executed[97]. - The company won a second-instance judgment against Jiangsu Jinma Engineering Co., Ltd. in a sales contract dispute, with a claim amount of 470,600 yuan, and the case is currently in execution[97]. - The company is facing a second-instance trial in a construction contract dispute with Tianjin Rende Technology Co., Ltd., with a claim amount of 602,000 yuan[97]. - There are no significant litigation or arbitration matters reported during the reporting period[97]. - The company has not undergone any bankruptcy reorganization during the reporting period[96]. - The company has not received any administrative penalties or undergone any rectification during the reporting period[99]. - The company has not engaged in any related party transactions during the reporting period[102]. Shareholder and Capital Structure - The company completed the acquisition of 72% equity in Shanghai Changying from its original shareholders, with the transaction approved at the second extraordinary general meeting of shareholders in July 2020[106]. - The total amount of guarantees approved by the company during the reporting period was CNY 1,500 million, with an actual guarantee amount of CNY 2,500 million[114]. - The actual total amount of guarantees accounted for 1.25% of the company's net assets[114]. - The company reported no significant related party transactions during the reporting period[105]. - The company has no significant contracts or leasing arrangements in place during the reporting period[109][110][111]. - The company has no violations regarding external guarantees during the reporting period[115]. - The company has not disclosed any additional content required by regulatory authorities[141]. - The report includes detailed information on the reasons for share changes and the impact on financial metrics[141]. - The total number of common shareholders at the end of the reporting period is 12,480[147]. - The company’s total share capital is 208,216,208 shares, with 32.45% being restricted shares[139]. Environmental Compliance - Nanjing卓越 reported no exceedance in pollutant emissions, with self-monitoring plans filed with local environmental authorities[122]. - Shanghai长盈 also reported no exceedance in pollutant emissions, with self-monitoring plans in accordance with pollution discharge permits[123]. - Nanjing卓越's hazardous waste management plan includes proper disposal of incineration residues and fly ash, with operational records maintained[122]. - Shanghai长盈 has established a hazardous waste management plan, ensuring proper disposal of hazardous waste generated during production[124]. - Both Nanjing卓越 and Shanghai长盈 have implemented emergency response plans for environmental incidents, filed with local environmental authorities[126]. Future Outlook - The company plans to expand its market presence by launching new products in the second half of 2020, targeting a 10% increase in market share[200]. - Future guidance suggests a revenue target of 1.5 billion yuan for the next half-year, with an expected growth rate of 15%[200]. - The overall market outlook remains positive, with anticipated growth driven by increasing demand for environmental technology solutions[200].

Financial Performance - Total revenue for Q1 2020 was ¥141,083,569.63, a decrease of 37.12% compared to ¥224,355,458.53 in the same period last year[7] - Net profit attributable to shareholders was -¥26,191,503.37, representing a decline of 220.97% from a profit of ¥21,650,973.25 in the previous year[7] - Basic and diluted earnings per share were both -¥0.1258, down 175.60% from ¥0.1664 in the previous year[7] - The net profit for Q1 2020 was a loss of ¥28,493,969.23, compared to a profit of ¥19,615,131.80 in Q1 2019, indicating a significant decline in profitability[47] - The operating profit for Q1 2020 was a loss of ¥30,922,530.49, contrasting with an operating profit of ¥21,971,169.82 in the previous year[46] - The total comprehensive income for the period was -¥14.59 million, contrasting with a positive comprehensive income of ¥27.04 million in the previous year[54] Cash Flow - The net cash flow from operating activities was -¥127,804,180.44, a decrease of 7.27% compared to -¥119,140,795.20 in the same period last year[7] - The cash inflow from investment activities was ¥96.92 million, a significant decrease from ¥929.26 million in the previous year[54] - The net cash flow from financing activities was ¥57.51 million, compared to ¥56.79 million in the same period last year, indicating stable financing operations[55] - The company reported a net cash decrease of ¥93.67 million during the quarter, compared to a decrease of ¥23.34 million in the same period last year[55] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,345,506,890.71, an increase of 0.69% from ¥3,322,725,939.11 at the end of the previous year[7] - Total liabilities increased from CNY 1,987,518,403.00 to CNY 2,038,793,323.83, an increase of approximately 2.6%[39] - The company's equity attributable to shareholders decreased from CNY 1,219,306,156.93 to CNY 1,193,114,653.56, a decline of about 2.1%[40] - Current assets totaled CNY 1,918,732,852.19 as of March 31, 2020, compared to CNY 1,889,431,036.03 as of December 31, 2019, reflecting an increase of approximately 1.8%[37] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 13,493[10] - The largest shareholder, Yang Jianping, holds 29.33% of the shares, amounting to 61,064,249 shares, with 45,798,187 shares pledged[10] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[11] Government Support and Subsidies - The company received government subsidies amounting to ¥756,288.29 during the reporting period[8] Research and Development - The company has initiated four new R&D projects during the reporting period, alongside the authorization of one new patent, to enhance technological innovation[20] - Research and development expenses for Q1 2020 were ¥7,262,843.90, down from ¥9,300,509.35, a decrease of 21.9%[46] - The company has received a patent certificate as of March 30, 2020, indicating advancements in its research and development efforts[30] Investment Activities - The company is actively pursuing the acquisition of 72% equity in Shanghai Changying Environmental Services Co., with the matter currently in progress[20] - The company is conducting due diligence with relevant intermediaries for the acquisition of Shanghai Changying, with ongoing progress reported[28] - The company completed the acquisition of 24.5% of Jiangsu Aike's equity through a share transfer, with the registration of the change completed[30] Financial Management - The company’s financial expenses increased by 48.28% to 13.88 million CNY, primarily due to a rise in loan interest[15] - The company’s investment income rose by 81.95% to 2.72 million CNY, driven by increased investment returns from joint ventures[15] - The company has implemented measures to link accounts receivable management with performance assessments to accelerate the collection of receivables[25] - Accounts receivable accounted for a significant proportion of total assets, indicating potential risks if not collected in a timely manner, despite the overall reasonable level of accounts receivable[25] Market Adaptation - The company is actively pursuing diversification strategies to adapt to market changes and mitigate risks associated with the macroeconomic downturn caused by the COVID-19 pandemic[22] - The company has emphasized the importance of maintaining and expanding its competitive advantages to avoid risks of declining gross margins amid increasing industry competition[24] - The company is committed to strengthening its technical innovation capabilities and prioritizing customer needs to enhance brand advantages and core competitiveness[24]

Acquisitions and Investments - The company successfully acquired 51% of Nanjing Zhuoyue, which has increased financial pressure and requires enhanced financial management and risk control[8]. - The company is in the process of acquiring 72% of Shanghai Changying Environmental Services, with the transaction still in the planning stage and subject to further verification and approval[9]. - The company has expanded its hazardous waste disposal business, acquiring 51% of Nanjing Zhuoyue Environmental Technology Co., Ltd. and obtaining necessary operating licenses[33]. - The company plans to acquire 72% of the shares held by certain shareholders of Shanghai Changying, expanding its hazardous waste disposal business[38]. - The company successfully introduced strategic investors, transferring 43,030,512 shares to New Su Environmental, which will support future growth[52]. - The company invested CNY 108 million as a limited partner in the establishment of the Nanjing Xuelang Jinying Environmental Industry Investment Partnership[92]. - The company applied for a merger loan of RMB 220 million to acquire 51% equity in Nanjing Zhuoyue, using the acquired equity as collateral[179]. Financial Performance - The company's operating revenue for 2019 was CNY 1,242,529,677.61, representing a 29.47% increase compared to CNY 959,725,568.12 in 2018[22]. - Net profit attributable to shareholders reached CNY 89,840,477.57, a significant increase of 107.39% from CNY 43,320,357.14 in the previous year[22]. - The total assets of the company increased by 25.62% to CNY 3,322,725,939.11 at the end of 2019, up from CNY 2,645,084,020.71 in 2018[22]. - The company reported a basic earnings per share of CNY 0.4315, which is a 107.35% increase from CNY 0.2081 in 2018[22]. - The weighted average return on equity increased to 7.63% in 2019, up from 3.87% in 2018[22]. - The company reported a net profit of CNY 89.84 million for the year 2019, with distributable profits amounting to CNY 436.76 million[103]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the year, representing a growth of 15% compared to the previous year[112]. - The company reported a total revenue of 1.5 billion RMB for the fiscal year 2019, representing a year-over-year growth of 20%[124]. Cash Dividends and Share Capital - The company plans to distribute cash dividends of 1 RMB per 10 shares and increase capital reserves by 6 shares for every 10 shares held, based on a total share capital of 208,216,208 shares as of December 31, 2019[10]. - The company proposed a cash dividend of CNY 1.00 per 10 shares, totaling CNY 20.82 million, based on a total share capital of 208,216,208 shares[103]. - In 2019, the company distributed a cash dividend of 1.00 RMB per 10 shares, totaling 20,821,620.80 RMB, which represents 23.18% of the net profit attributable to ordinary shareholders[107]. - The total share capital increased from 130,135,130 shares in 2018 to 208,216,208 shares in 2019 due to a capital reserve conversion[104]. - The cash dividends for the last three years have shown a consistent increase in both amount and percentage of net profit distributed[107]. Accounts Receivable and Financial Management - The company acknowledges the risk of increased accounts receivable due to business expansion, emphasizing the importance of effective management to mitigate potential impacts on long-term stability[7]. - The company reported a significant increase in accounts receivable, which, while manageable, poses a risk if not collected timely[7]. - The company emphasizes the importance of aligning accounts receivable management with performance assessments to accelerate cash recovery[7]. - The company’s accounts receivable rose by 40.47% year-on-year, reflecting an increase in completed projects[39]. Technological Innovation and R&D - The company is committed to continuous technological innovation and enhancing brand advantages to maintain and expand its core competitiveness in a competitive market[6]. - The company has optimized its resource allocation by transferring its 51% stake in Jiangsu Huifeng, reducing management costs[34]. - The company acquired 12 new patents and 2 software copyright registrations during the reporting period, enhancing its technological capabilities[41]. - The company is focusing on technological innovation and has initiated several research projects related to waste treatment technologies[41]. - The company’s R&D investment in 2019 amounted to ¥48,569,117.84, representing 3.91% of its operating revenue, an increase from 3.57% in 2018[71]. - The company is investing 200 million RMB in research and development for innovative environmental solutions over the next three years[112]. Market Trends and Strategic Outlook - The company recognizes the potential impact of macroeconomic fluctuations on the environmental industry and is adapting its strategies to seek diversified development opportunities[4]. - The company is actively analyzing market trends to navigate opportunities and challenges in the evolving environmental sector[4]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[112]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[112]. - The management emphasized the importance of sustainability in future strategies, aligning with global environmental standards[118]. Operational Efficiency and Cost Management - The company aims to reduce operational costs by 5% through efficiency improvements in the supply chain[112]. - The company aims to reduce operational costs by 10% through efficiency improvements in the supply chain[121]. - The company aims to reduce operational costs by 15% through process optimization initiatives[116]. - The gross profit margin improved to 35%, up from 30% in the previous year, indicating better cost management[112]. Corporate Governance and Compliance - The company has ensured that its IPO prospectus is accurate and complete, with no misleading statements or omissions[109]. - The company has a commitment to repurchase shares if found in violation of regulations, with a repurchase price not lower than the IPO price plus interest[109]. - The company will take necessary actions to ensure compliance with regulatory requirements from the China Securities Regulatory Commission[115]. - The company has established a framework to link the performance of its compensation measures to the remuneration system for directors and senior management[115]. Environmental Responsibility and Sustainability - The company has committed to sustainable development and environmental protection while improving product quality and technology[162]. - The company has implemented strict environmental management practices and employee training to enhance environmental awareness[162]. - The company has a proactive approach to environmental emergencies, having established an emergency response plan[166]. - The company emphasizes customer rights protection by understanding customer needs before contract signing and striving to reduce costs while ensuring quality[161].

Financial Performance - Operating revenue for the period reached ¥326,452,743.78, representing a 31.34% year-on-year growth[7] - Net profit attributable to shareholders was ¥13,893,524.00, up 15.03% from the same period last year[7] - Basic earnings per share decreased by 28.13% to ¥0.0667[7] - Total operating revenue for Q3 2019 was CNY 326,452,743.78, an increase of 31.3% compared to CNY 248,559,775.83 in the same period last year[50] - Net profit for Q3 2019 reached CNY 14,573,183.04, a 43.5% increase from CNY 10,186,135.41 in Q3 2018[52] - The total comprehensive income for the period was ¥78,614,118.71, compared to ¥47,881,311.47 in the same quarter last year[62] Assets and Liabilities - Total assets increased to ¥3,150,911,587.84, a 19.12% increase compared to the end of the previous year[7] - Total liabilities reached CNY 1,800,459,964.18, a rise of 28.7% from CNY 1,399,051,800.84 in the previous year[42] - The company's total equity increased to CNY 1,350,451,623.66, up from CNY 1,246,032,219.87, marking a growth of approximately 8.4%[42] - Total liabilities amounted to approximately ¥1,102.43 million, with current liabilities at ¥1,051.18 million[85] - Owner's equity totaled approximately ¥1,152.45 million, including retained earnings of ¥376.66 million[86] Cash Flow - Cash flow from operating activities showed a significant decline, with a net outflow of ¥111,803,603.84, a decrease of 1,770.32% compared to the previous year[7] - The net cash flow from operating activities was negative at CNY -111,803,603.84, compared to a positive CNY 6,693,536.33 in the same period last year[70] - The net cash flow from financing activities improved to ¥1,349,986.64, a 107.33% increase, attributed to an increase in loans during the period[24] - Cash inflow from financing activities was CNY 560,000,000.00, up from CNY 478,837,132.71 in the previous year, indicating an increase of approximately 17.0%[70] Investment and Expenses - Research and development expenses surged by 83.81% to ¥37,085,608.79, up from ¥20,176,581.10, reflecting increased investment in R&D projects[22] - The company reported a significant increase in financial expenses, which rose by 219.99% to ¥36,710,528.94 from ¥11,472,424.34, driven by increased borrowing[22] - Investment income increased to ¥32,532,222.37, a growth of 574.80% due to the inclusion of Nanjing Zhuoyue in the consolidation scope and increased returns from Shanghai Changying Investment[24] Shareholder Information - The total number of shareholders at the end of the reporting period was 10,407[10] - Major shareholder Yang Jianping holds 39.10% of the shares, with 61,064,249 shares pledged[11] - The company does not have any plans for share repurchase transactions during the reporting period[13] Market Expansion and Future Plans - The company plans to transfer a total of 43,030,512 shares, representing 20.67% of the total share capital, to a strategic investor, New Su Environmental, pending regulatory approvals[26] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[49] Government Support - The company received government subsidies in September 2019, contributing positively to its financial position[29] Dividend Policy - The company maintained its cash dividend policy, distributing ¥9,109,459.10 in cash dividends for the 2018 fiscal year, equivalent to ¥0.7 per share[32]

Financial Performance - Total operating revenue for the first half of 2019 reached ¥545,367,324.25, an increase of 37.94% compared to ¥395,353,250.24 in the same period last year[18]. - Net profit attributable to shareholders was ¥68,696,393.42, representing an 84.60% increase from ¥37,212,931.42 in the previous year[18]. - Basic earnings per share increased by 15.35% to ¥0.3299 from ¥0.2860 in the same period last year[19]. - The company reported a significant increase in investment income, which rose by 607.47% to ¥28,270,950.50, primarily due to the consolidation of Nanjing Zhuoyue[41]. - The total profit for the first half of 2019 was CNY 74,298,583.96, up from CNY 40,689,972.17, indicating an increase of 82.5%[170]. - The company reported a net profit for the first half of 2019 was CNY 64,476,335.61, representing an increase of 91.3% compared to CNY 33,752,882.86 in the same period of 2018[170]. Cash Flow and Investments - The net cash flow from operating activities was negative at -¥67,591,311.02, a decline of 825.40% compared to -¥7,304,025.33 in the previous year[18]. - The cash flow from operating activities showed a significant negative change, with a net outflow of RMB 67,591,311.02, attributed to higher payments for goods[40]. - The company reported a net cash outflow from operating activities of CNY -67,591,311.02, worsening from CNY -7,304,025.33 in the same period last year[175]. - Investment activities resulted in a net cash outflow of CNY -7,427,631.98, a significant decrease from a net inflow of CNY 143,770,341.33 in the first half of 2018[175]. - The net cash flow from investment activities was -212,368,102.28 CNY, compared to a positive cash flow of 136,692,509.39 CNY in the previous period[179]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,110,619,085.73, up 17.60% from ¥2,645,084,020.71 at the end of the previous year[19]. - The company's total liabilities reached CNY 1,774,740,645.11, up from CNY 1,399,051,800.84, indicating an increase of about 27%[157]. - Current assets totaled CNY 1,645,821,977.98, a decrease from CNY 1,745,421,667.30, reflecting a decline of approximately 5.7%[154]. - The company's equity attributable to shareholders was CNY 1,198,162,072.78, up from CNY 1,138,575,138.46, reflecting a growth of approximately 5.2%[157]. - The company reported a significant increase in long-term borrowings, which rose to CNY 198,000,000.00 from CNY 18,500,000.00, representing a substantial increase of over 970%[156]. Operational Highlights - The company acquired 51% equity in Nanjing Zhuoyue Environmental Technology Co., Ltd., which began operations in January and April 2019, contributing to increased investment income[28]. - The company’s hazardous waste disposal business has expanded, with operations commencing at Shanghai Changying Environmental Services Co., Ltd. and Nanjing Zhuoyue Environmental Technology Co., Ltd.[27]. - The company successfully participated in major projects, including being the first candidate for the procurement of the flue gas purification system for the Guangzhou Sixth Resource Thermal Power Plant Phase II[32]. - The company aims to become a leading international environmental engineering system integrator and overall solution provider for environmental governance[27]. - The company has committed 108 million RMB to establish an environmental industry merger fund, indicating a strategic move towards investment in the sector[69]. Research and Development - Research and development investment increased by 16.52% to RMB 17,619,639.43, with 9 new utility model patents and 2 software copyright certificates obtained during the reporting period[38]. - The company obtained 9 new utility model patents and 2 software copyright certificates during the reporting period, enhancing its technology innovation capabilities[32]. - The company focuses on the research, design, and manufacturing of waste treatment equipment, which is critical for its market expansion strategy[198]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,186[133]. - Yang Jianping holds 39.10% of the shares, totaling 38,165,155 shares, with 12,721,719 shares pledged[133]. - The total number of shares held by the top 10 unrestricted shareholders is 29,000,000 shares[135]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[137]. - The total number of shares decreased from 130,135,130 to 130,135,130 due to various shareholding changes, with limited shares now totaling 56,696,133 and unrestricted shares totaling 73,438,997[125][126]. Regulatory and Compliance - The company has established a comprehensive environmental emergency response plan, filed with local environmental protection authorities[112]. - The company has received hazardous waste management licenses from relevant authorities in January and April 2019[111]. - The company has ongoing litigation involving amounts of 20.7 million yuan, 60.2 million yuan, and 18.15 million yuan, all currently in trial[84]. - The company has not experienced any penalties or rectification situations during the reporting period[87]. - The company has not undergone any bankruptcy restructuring during the reporting period[83].

Financial Performance - Total revenue for Q1 2019 was CNY 224,355,458.53, representing a 23.28% increase compared to CNY 181,993,980.66 in the same period last year[7] - Net profit attributable to shareholders was CNY 21,650,973.25, a 4.74% increase from CNY 20,671,825.36 year-on-year[7] - Basic earnings per share increased by 4.79% to CNY 0.1664 from CNY 0.1588 year-on-year[7] - The company achieved operating revenue of 224.36 million yuan, an increase of 23.28% compared to the same period last year[17] - The net profit attributable to shareholders was 21.65 million yuan, up 4.74% year-on-year[17] - Net profit for Q1 2019 reached CNY 19,615,131.80, representing a 8.8% increase from CNY 18,037,732.26 in Q1 2018[43] - The company's basic and diluted earnings per share for Q1 2019 were both CNY 0.1664, compared to CNY 0.1588 in the previous year[44] - The total comprehensive income for Q1 2019 was CNY 19,615,131.80, compared to CNY 18,037,732.26 in the previous year[44] Cash Flow - The net cash flow from operating activities was negative at CNY -119,140,795.20, a decline of 417.24% compared to CNY -23,033,761.67 in the same period last year[7] - Cash flow from operating activities showed a significant decline of 417.24%, resulting in a net outflow of 119.14 million yuan due to higher payment of goods[16] - Cash inflow from operating activities totaled 226,928,902.12, down from 240,754,088.46, while cash outflow increased to 346,069,697.32 from 263,787,850.13[49] - The net cash flow from operating activities was -114,108,186.00, compared to -1,121,670.18 in the previous period, indicating ongoing operational challenges[52] - The net cash flow from financing activities was 56,792,295.75, a notable increase from 1,435,309.18 in the previous period[53] - The ending cash balance was 138,150,815.04, compared to 68,361,078.00 in the prior period, reflecting improved liquidity[53] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,661,295,264.40, a 0.61% increase from CNY 2,645,084,020.71 at the end of the previous year[7] - Current liabilities decreased slightly to CNY 1,063,387,292.51 from CNY 1,064,957,970.50, a reduction of 0.15%[34] - The total liabilities amounted to CNY 1,397,310,433.33, slightly down from CNY 1,399,051,800.84, a decrease of 0.12%[34] - The company's equity attributable to shareholders rose to CNY 1,160,226,111.71 from CNY 1,138,575,138.46, an increase of 1.61%[35] - The total current assets reached CNY 1,751,791,007.19, compared to CNY 1,743,573,434.89, marking a growth of 0.46%[38] Investments and R&D - The company invested in Yancheng Yuanxu Environmental Technology Co., Ltd. and Yancheng Chirui Environmental Technology Co., Ltd. to expand its hazardous waste disposal business[20] - The company obtained 6 new authorized patents during the reporting period, enhancing its R&D capabilities[20] - Research and development expenses increased to CNY 9,300,509.35, a rise of 24.7% from CNY 7,459,233.09 in Q1 2018[42] - The company has invested ¥110 million in a private equity fund, indicating a strategy to utilize idle funds for financial growth[25] Competition and Market Position - The company faces intensified competition in the environmental protection industry, despite being a pioneer with technological and brand advantages[22] - The company is actively pursuing external growth through acquisitions, with ongoing projects in Yancheng that are still in the establishment phase[22] - The company has acquired a hazardous waste operation license through Nanjing Zhuoyue, enabling it to conduct hazardous waste incineration and disposal[22] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 8,392[11] - The largest shareholder, Yang Jianping, holds 39.10% of the shares, amounting to 50,886,874 shares, with a portion pledged[11] Government Support - Government subsidies recognized in the current period amounted to CNY 10,410,805.90[8] - The company has received government subsidies, which may positively impact its financial position[25]

Financial Performance - The company's operating revenue for 2018 was ¥959,725,568.12, representing a 17.32% increase compared to ¥818,035,386.30 in 2017[21]. - The net profit attributable to shareholders decreased by 28.21% to ¥43,320,357.14 in 2018 from ¥60,342,452.32 in 2017[21]. - The cash flow from operating activities increased significantly by 192.95% to ¥117,645,026.05 in 2018, compared to ¥40,158,143.59 in 2017[21]. - The basic earnings per share dropped by 33.33% to ¥0.3329 in 2018 from ¥0.4993 in 2017[21]. - Total assets at the end of 2018 reached ¥2,645,084,020.71, a 20.55% increase from ¥2,194,268,931.67 in 2017[21]. - The net assets attributable to shareholders increased by 3.10% to ¥1,138,575,138.46 at the end of 2018 from ¥1,104,364,240.42 at the end of 2017[21]. - The company reported a significant increase in cash flow from operating activities in Q4 2018, amounting to ¥110,951,489.72[23]. - The company experienced a decline in net profit in Q4 2018, reporting a loss of ¥5,971,262.53 attributable to shareholders[23]. - The company received government subsidies amounting to ¥9,947,254.14 in 2018, compared to ¥2,118,502.71 in 2017[26]. - The total non-recurring losses for 2018 amounted to ¥10,129,865.95, indicating a significant impact on the overall profitability[27]. - The company reported an increase in operating revenue compared to the previous year, driven by an increase in orders and government subsidies[32]. - The net profit for the year decreased compared to the previous year, primarily due to the inclusion of Nanjing Xuelang Jinying Environmental Industry Investment Partnership in the consolidated financial statements and provisions for litigation related to the Dafeng project[32]. - The company achieved operating revenue of CNY 959.73 million in 2018, an increase of 17.32% compared to the previous year[46]. - The net profit attributable to shareholders was CNY 43.32 million, a decrease of 28.21% year-on-year, primarily due to the inclusion of Nanjing Xuelang Jinyin in the consolidated financial statements and related legal provisions[46]. - The company reported a total revenue of 1.5 billion RMB for the year 2018, representing a year-on-year growth of 20%[125]. - The company reported a total revenue of approximately 860 million CNY for the year 2018, reflecting a growth of 3.60% compared to the previous year[185]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.70 per 10 shares (including tax) and to increase capital by 6 shares for every 10 shares held[11]. - The proposed cash dividend for 2018 is 0.7 RMB per share, totaling 9,109,459.10 RMB, which represents 100% of the profit distribution[118]. - The cash dividend for 2017 was also RMB 9,109,459.10, amounting to 15.10% of the net profit attributable to ordinary shareholders[121]. - The cash dividend payout ratio has shown an increase from 15.10% in 2017 to 21.03% in 2018[121]. - The company distributed a cash dividend of RMB 0.70 per 10 shares, totaling RMB 9,109,459.10 for the year 2018, which represents 21.03% of the net profit attributable to ordinary shareholders[119]. Growth and Expansion Strategies - The company is actively pursuing both organic growth and external expansion through acquisitions, with a focus on hazardous waste management[8]. - The company aims to enhance its market development and sales capabilities in 2019, focusing on customer needs and long-term partnerships[109]. - The company plans to accelerate its external development strategy while focusing on hazardous waste disposal projects[48]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[126]. - A strategic acquisition of a local competitor is expected to enhance the company's service offerings and increase market penetration by 5%[127]. - The company aims to launch three new products in the next quarter, which are anticipated to contribute an additional 100 million RMB in revenue[125]. - The company plans to invest 108 million RMB in establishing an environmental industry merger fund with partners[106]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[129]. - A strategic acquisition of a local competitor is in progress, which is anticipated to add 200 million RMB in annual revenue[130]. Research and Development - The company added 26 new authorized patents during the reporting period, including 25 utility model patents and 1 invention patent[42]. - Research and development expenses for 2018 amounted to 34.29 million yuan, representing 3.57% of total revenue, an increase from 3.23% in 2017[72]. - The number of R&D personnel increased to 152 in 2018, accounting for 26.16% of the workforce, up from 24.38% in 2017[72]. - The company completed several R&D projects, including energy-saving equipment for flue gas purification and a new feeding system for hazardous waste incineration[72]. - Investment in R&D for new technologies increased by 25%, totaling 200 million RMB, focusing on sustainable environmental solutions[125]. - Investment in R&D increased by 30% year-on-year, focusing on innovative environmental technologies[138]. Market and Competitive Landscape - The company acknowledges the potential impact of macroeconomic fluctuations on the environmental protection industry, which it heavily relies on[5]. - The company recognizes the risks associated with intensified market competition, which may lead to a decline in gross profit margins[6]. - The company emphasizes the importance of maintaining and expanding its competitive advantages in the waste-to-energy and metallurgy sectors[7]. - The company faces challenges from increasing environmental technology requirements and intensified industry competition[37]. - The company is positioned to benefit from ongoing environmental regulations and policies aimed at pollution control, which are expected to drive demand in the environmental protection industry[34]. Operational Efficiency and Management - The company is committed to strengthening internal management and communication to meet the increasing demands from its growing order backlog[10]. - The company intends to optimize management processes to reduce costs and improve efficiency in 2019[110]. - The company aims to reduce operational costs by 10% over the next year through efficiency improvements[127]. - The company aims to reduce operational costs by 15% through process optimization initiatives[130]. - The company has committed to reducing operational costs by 10% in 2019 through efficiency improvements and automation[140]. Partnerships and Collaborations - The company has established strong partnerships with major enterprises in the steel industry, enhancing its reputation in the market[37]. - A new partnership with a technology firm is expected to enhance product innovation and accelerate time-to-market for new solutions[125]. - A new partnership with a leading environmental firm is expected to enhance service offerings and drive additional revenue streams[128]. Compliance and Governance - The company has committed to ensuring the accuracy and completeness of its IPO prospectus and will compensate investors for any losses due to false statements[124]. - The company will ensure that any future stock incentive plans are linked to the execution of compensation measures[133]. - The company’s management will be held accountable for any violations of their commitments, with potential regulatory actions from securities authorities[133]. - The company has not faced any situations that could lead to suspension or termination of its listing during the reporting period[156]. Social Responsibility and Sustainability - The company emphasized its social responsibility by focusing on green development and striving for harmony with stakeholders, including employees, customers, and suppliers[188]. - The company has committed to a new sustainability initiative, aiming to reduce carbon emissions by 40% over the next five years[134]. - The company is not classified as a key pollutant discharge unit by environmental protection authorities, highlighting its commitment to environmental management[192].

Financial Performance - Operating revenue for the reporting period was ¥248,559,775.83, representing a year-on-year growth of 23.89%[7] - Net profit attributable to shareholders was ¥12,078,688.25, up 47.09% from the same period last year[7] - The net profit after deducting non-recurring gains and losses was ¥11,581,430.29, an increase of 43.95% year-on-year[7] - Basic earnings per share rose to ¥0.0928, reflecting a growth of 35.67% compared to the previous year[7] - The total operating revenue for the third quarter was CNY 248,559,775.83, an increase of 23.9% compared to CNY 200,631,340.99 in the same period last year[36] - The net profit for Q3 2018 reached CNY 10,186,135.41, representing a 50.5% increase from CNY 6,794,075.31 in Q3 2017[37] - The total profit for Q3 2018 was CNY 13,923,949.41, compared to CNY 7,925,438.99 in Q3 2017, marking a 75.5% increase[37] - The company's total comprehensive income for Q3 2018 was CNY 10,186,135.41, compared to CNY 6,794,075.31 in the previous year, showing an increase of 50.5%[37] Asset Management - Total assets at the end of the reporting period reached ¥2,329,709,822.65, an increase of 6.17% compared to the previous year[7] - The company's total current assets amounted to 1,527,953,208.07 RMB, up from 1,462,884,621.48 RMB, showing an increase of about 4.4%[29] - The company's total assets reached CNY 2,329,709,822.65, an increase of 6.1% from CNY 2,194,268,931.67 at the beginning of the year[31] - The company's total assets as of the end of Q3 2018 were not specified, but the increase in net profit suggests a positive trend in asset management[40] Cash Flow - Cash flow from operating activities showed a significant increase of 218.25%, totaling ¥6,693,536.33 for the year-to-date[7] - Operating cash flow improved by 218.25% to ¥6,693,536.33, mainly due to better collection of receivables compared to the same period last year[19] - The net cash flow from operating activities was ¥6,693,536.33, a significant improvement from a negative cash flow of -¥5,660,479.32 in the previous period[51] - Cash inflow from financing activities was ¥472,287,132.71, an increase from ¥397,080,104.83 in the prior period[55] - The net increase in cash and cash equivalents was -¥90,319,367.53, contrasting with an increase of ¥3,663,063.66 in the previous period[55] Investments - Long-term equity investments surged by 133.04% to ¥146,858,060.71, primarily due to payments made for investments in Nanjing Xuelang Jinying[18] - The company has invested CNY 401,258,060.71 in long-term equity investments, up from CNY 317,419,283.53, indicating a strategic focus on long-term growth[32] - The total investment cash outflow was ¥863,074,254.39, compared to ¥89,527,463.21 in the previous period, indicating a substantial increase in investment activities[51] - The company reported an investment income of CNY 39,473,966.21 in Q3 2018, a significant recovery from a loss of CNY 186,032.85 in the same period last year[40] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,906[11] - The largest shareholder, Yang Jianping, holds 39.10% of the shares, amounting to 50,886,874 shares[11] - The company reported a cash dividend of 0.70 RMB per 10 shares, totaling 9,109,459.10 RMB distributed to shareholders[24] - The company has maintained a clear cash dividend policy, ensuring the protection of minority shareholders' rights[24] Liabilities and Expenses - Total liabilities increased to CNY 1,143,070,263.76, up 13.6% from CNY 1,006,223,648.31 year-on-year[31] - Other payables rose significantly by 724.13% to ¥45,725,035.29, primarily due to unpaid dividends[18] - Research and development expenses for Q3 2018 were CNY 5,054,817.84, down from CNY 7,577,018.43 in Q3 2017, a decrease of 33.3%[40] - Research and development expenses rose to ¥20,176,581.10, up 27.56% from ¥15,815,957.49 in the previous period[47] Market Strategy - The company plans to enhance its market expansion strategies and invest in new technologies to drive future growth[36] - The company planned to establish an environmental industry merger fund with a capital commitment of 10 million RMB, but the fund was ultimately terminated due to market conditions[20] Other Financial Metrics - The weighted average return on net assets was 1.06%, a slight decrease of 0.03% from the previous year[7] - The gross profit margin for the quarter was approximately 4.5%, reflecting a slight decrease from previous periods due to rising costs[36] - The total operating costs amounted to CNY 236,995,010.79, up 23% from CNY 192,780,540.67 year-on-year[36]

Financial Performance - Total operating revenue for the first half of 2018 was CNY 395,353,250.24, representing a 6.66% increase compared to CNY 370,656,039.30 in the same period last year[16]. - Net profit attributable to shareholders of the listed company was CNY 37,212,931.42, a 2.53% increase from CNY 36,296,330.21 in the previous year[16]. - Operating profit for the same period was CNY 61.83 million, reflecting a growth of 13.29% year-on-year[36]. - The company achieved a net profit attributable to shareholders of 37,212,931.42 yuan, an increase of 2.53% compared to the same period last year[27]. - Net profit for the current period was ¥37,695,176.06, down 12.5% from ¥42,872,850.16 in the previous period[168]. - The total comprehensive income for the current period was 42,872.80 million yuan, reflecting a substantial increase[186]. - The company reported a significant increase in retained earnings, with a total of 39,286 million yuan[186]. Cash Flow and Liquidity - Net cash flow from operating activities improved significantly to CNY -7,304,025.33, an 87.86% increase compared to CNY -60,170,836.82 in the same period last year[17]. - The company recorded a significant increase in cash and cash equivalents, rising by 624.65% to CNY 168.22 million[41]. - Cash and cash equivalents increased to ¥380,389,214.92, representing 16.85% of total assets, up from 6.59% in the previous year, a change of 10.26%[49]. - The company's cash and cash equivalents at the end of the period were CNY 342,071,291.11, up from CNY 169,603,551.72, indicating a significant increase of about 101.5%[160]. - The total cash and cash equivalents at the end of the period reached 293,277,527.21 yuan, compared to 59,442,293.15 yuan in the previous period[179]. - The company reported a cash increase of 162,800,029.97 yuan, contrasting with a decrease of -33,704,478.18 yuan in the previous period[179]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,256,869,921.99, a 2.85% increase from CNY 2,194,268,931.67 at the end of the previous year[17]. - Current liabilities totaled CNY 1,008,594,133.84, compared to CNY 982,056,456.17, reflecting an increase of about 2.6%[157]. - The total liabilities amounted to CNY 1,040,214,214.49, up from CNY 1,006,223,648.31, indicating an increase of approximately 3.4%[158]. - The company's equity at the end of the current period stands at approximately ¥750,898,108.92, which is a critical indicator of financial health[193]. Investments and R&D - Research and development expenses increased by 83.54% to CNY 15.12 million, primarily due to upfront investments in R&D projects[40]. - The company holds a total of 45 invention patents and 62 utility model patents, reflecting its strong R&D capabilities[30]. - The company received government subsidies amounting to 9,105,158.84 yuan during the reporting period[24]. - The company has established strong partnerships with well-known firms in the waste-to-energy sector, enhancing its brand recognition[30]. Strategic Initiatives - The company emphasizes a strategy of "internal growth plus external development" to expand its business operations[25]. - The company plans to continue its strategy of "internal growth plus external expansion" to enhance performance and deliver greater returns to investors[38]. - The company plans to participate in the establishment of an environmental protection investment partnership, indicating a strategic move towards market expansion[56]. - The company is actively seeking and reserving quality projects to support its external expansion efforts[76]. Risk Management - The company has detailed risk factors and corresponding measures in the report, emphasizing the importance of risk awareness for investors[4]. - The company faces risks related to rising financial costs due to potential increases in debt financing, especially in a tight market[76]. Compliance and Governance - The financial report for the first half of 2018 was not audited[153]. - The financial statements comply with the requirements of the accounting standards, accurately reflecting the company's financial position, operating results, and cash flows for the reporting period[198]. - The company has confirmed that its actual controller and major shareholders have fulfilled their commitments during the reporting period[81]. Environmental Compliance - The company reported that all pollutant emissions from its operations are within the standards, with no exceedances detected in air, water, noise, and solid waste monitoring[119]. - The company has implemented a monitoring plan for environmental self-assessment, which has been filed with the local environmental protection bureau[122]. - The company operates under strict environmental regulations, ensuring that all construction projects comply with environmental laws and regulations[121].

Financial Performance - The company's operating revenue for 2017 was ¥818,035,386.30, representing a 17.48% increase compared to ¥696,323,053.76 in 2016[21]. - The net profit attributable to shareholders decreased by 31.98% to ¥60,342,452.32 from ¥88,707,252.26 in the previous year[21]. - The net cash flow from operating activities improved significantly, reaching ¥40,158,143.59, a 319.63% increase from -¥18,284,287.69 in 2016[21]. - The total assets at the end of 2017 were ¥2,194,268,931.67, a 35.61% increase from ¥1,618,065,972.81 at the end of 2016[21]. - The basic earnings per share decreased by 32.45% to ¥0.4993 from ¥0.7392 in 2016[21]. - The weighted average return on equity fell to 7.38% from 12.05% in the previous year, a decrease of 4.67%[21]. - The company achieved a non-recurring net profit of ¥59,093,297.11, which is a slight increase of 0.68% compared to the previous year[48]. - The company's total revenue for 2017 reached ¥818,035,386.30, representing a year-on-year increase of 17.48%[57]. - Revenue from waste incineration power generation accounted for 72.91% of total revenue, increasing by 23.89% from the previous year[57]. - The company reported a net profit of ¥60,342,452.32 for the year 2017, with a profit distribution proposal of ¥0.70 per 10 shares, totaling ¥9,109,459.10 to be distributed to shareholders[113]. Investment and Growth Strategies - The company signed new contracts worth approximately 1.3 billion RMB, an increase of about 50% compared to the same period last year[8]. - The company is actively pursuing mergers and acquisitions, having increased its stake in Jiangsu Huifeng and Shanghai Changying, while expanding hazardous waste disposal operations in the Yangtze River Delta region[10]. - The company is focusing on improving project budgeting and procurement management to mitigate cost risks[5]. - The company is committed to strengthening technology research and development to reduce material and manufacturing costs[5]. - The company has increased its R&D investment, resulting in the acquisition of 3 new invention patents and 4 utility model patents during the reporting period, bringing the total to 44 invention patents and 56 utility model patents[49]. - The company plans to strengthen its core competitiveness in waste incineration and flue gas purification to maintain its leading position in the industry[101]. - The company aims to capture market share in hazardous waste disposal, leveraging favorable market conditions[104]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[127]. - A strategic acquisition of a local competitor was announced, valued at 200 million RMB, aimed at consolidating market position[128]. Risk Management and Challenges - The company is facing risks from rising raw material prices, particularly steel, which may increase costs[5]. - The company acknowledges the uncertainty in the development of its investment projects, particularly those in the early stages[10]. - The company recognizes the increasing competition in the environmental protection industry as a significant challenge[100]. - The company is committed to improving internal controls and risk management to enhance operational efficiency[102]. - The company is facing challenges from rising steel prices, which could increase raw material costs, impacting profitability[100]. Corporate Governance and Compliance - The company has committed to a stock price stabilization plan, which will be activated if the stock price falls below the audited net asset value per share for 20 consecutive trading days within three years post-IPO[116]. - The company emphasizes strict adherence to the stabilization plan by all involved parties, including controlling shareholders and directors[116]. - The company guarantees the accuracy and completeness of its IPO prospectus, ensuring no misleading statements are present[121]. - The company has established a mechanism for stock repurchase if any legal violations are confirmed by regulatory authorities[121]. - The company has pledged to adjust the repurchase price based on dividends and other equity adjustments during the repurchase period[121]. - The company has a structured approach to managing its business operations to prevent any competitive overlaps with its subsidiaries[120]. - The company emphasizes the protection of shareholders' rights, especially for small and medium investors, ensuring timely information disclosure[167]. Research and Development - The company has obtained 7 new patents and 5 software copyright registrations during the reporting period, enhancing its technological capabilities[43]. - Research and development investment reached CNY 26,387,480.19, representing 3.23% of operating revenue, with a total of 148 R&D personnel, accounting for 24.38% of the workforce[73]. - The company is investing 50 million RMB in R&D for sustainable technologies over the next three years[127]. - The company is committed to continuous technological innovation to improve service and product quality, thereby increasing customer satisfaction[169]. Environmental Responsibility - The company is committed to improving internal controls and risk management to enhance operational efficiency[102]. - The company focuses on customer satisfaction by integrating customer needs into sales, design, and production processes[169]. - The company is classified as a key pollutant discharge unit, with various pollutants monitored and reported, all meeting the required standards[172]. - The waste incineration facility has a daily processing capacity of 24 tons, with an expansion project designed for 60 tons approved by the Jiangsu Provincial Environmental Protection Department[176]. - The company has established a monitoring plan for pollutants, with no exceedances reported, ensuring stable operation of pollution control facilities[174]. Employee Engagement and Corporate Culture - The company emphasizes talent development and corporate culture, enhancing employee engagement and overall company strength[53]. - The company organizes various recreational activities to enhance employee engagement and loyalty[168]. - The company has improved its procurement process to provide fair competition channels for qualified suppliers, facilitating better communication and market understanding[170].