证券代码：300388 证券简称：节能国祯 公告编号：2023-013 中节能国祯环保科技股份有限公司 关于召开 2022 年度业绩说明会并征集问题的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、业绩说明会的安排 1、召开时间：2023年3月30日15:00-17:00 2、召开方式：网络远程方式 3、出席人员：董事长王堤先生、总经理贺燕峰先生、总会计师王银仓先 生、董事会秘书石小峰先生、独立董事俞汉青先生。 4、召开地点：价值在线（www.ir-online.cn） 5、接入方式：投资者可于2023年3月30日（星期四）15:00-17:00通过网址 https://eseb.cn/134imxTWco0或使用微信扫描下方小程序码即可进入参与互动 交流。 二、征集问题事项 中节能国祯环保科技股份有限公司（以下简称"公司"）拟于2023年3月30 日召开2022年度业绩说明会，业绩说明会将采用网络远程方式举行，欢迎广大 投资者积极参与。 公司现就2022年年度业绩和经营情况提前向投资者征集相关问题，敬请投 资者于2023年3月29日下午5时前将所关 ...

Group 1: Company Overview and Core Business - Anhui Guozhen Environmental Protection Technology Co., Ltd. focuses on four main business areas: 1) wastewater treatment operations, including domestic sewage, industrial wastewater, pipeline networks, and watershed management; 2) environmental engineering EPC business; 3) production and sales of water treatment equipment; 4) water environment design consulting services [1][2]. - The company emphasizes its core competitive advantages in four aspects: solidifying its main business, business synergy, technical capabilities, and operational scale [2]. Group 2: Strategic Developments and Acquisitions - The company has engaged in various activities to strengthen its main business, including mergers and acquisitions, equity incentives, and private placements, focusing on industrial wastewater treatment and small-town water treatment [2]. - The acquisition of Maiwang Environment fills a gap in the industrial wastewater market and aligns with the company's strategy to become a comprehensive water environment service provider [3]. - The company has a current wastewater treatment capacity of approximately 3 million tons per day, with significant market potential due to government-imposed standards for wastewater discharge [2]. Group 3: Research and Development Focus - The company's R&D efforts are centered around comprehensive water environment governance services, with a focus on energy-saving and new process development in wastewater treatment [2]. - The company has completed 60% of the payment for the acquisition of Maiwang Environment, with the remaining payment contingent on performance commitments in 2015-2016 [3]. Group 4: Market Position and Future Outlook - The company aims to leverage its existing wastewater treatment facilities and upgrade them to meet higher discharge standards, which will create substantial value-added opportunities [2]. - The acquisition of the Norwegian company GEAS enhances the company's wastewater treatment equipment supply chain and expands its market presence in rural water environment governance [3].

Financial Performance - The company's revenue for Q3 2022 was ¥1,316,298,007.32, representing a 26.37% increase year-over-year, while the year-to-date revenue decreased by 4.83% to ¥2,820,840,851.92[5] - Net profit attributable to shareholders for Q3 2022 was ¥61,566,644.82, down 41.09% compared to the same period last year, and year-to-date net profit decreased by 2.55% to ¥266,346,722.93[5] - The basic earnings per share for Q3 2022 was ¥0.0904, a decrease of 39.53% year-over-year, while the diluted earnings per share also decreased by 38.34% to ¥0.0904[5] - Total operating revenue for the period was CNY 2,820,840,851.92, a decrease of 4.83% compared to CNY 2,964,066,276.67 in the previous period[18] - Net profit for the period was CNY 289,185,169.72, a slight decrease of 1.88% compared to CNY 293,738,499.55 in the same period last year[19] - The total comprehensive income attributable to the parent company for Q3 2022 was CNY 263,645,681.25, a decrease from CNY 273,114,262.55 in Q3 2021, representing a decline of approximately 3.4%[20] Assets and Liabilities - The company's total assets at the end of Q3 2022 were ¥14,688,149,868.49, a decrease of 2.13% from the end of the previous year[5] - The company's total assets decreased to CNY 14,688,149,868.49 from CNY 15,008,520,150.54, reflecting a decline of 2.13%[17] - Total liabilities decreased to CNY 10,632,562,084.01 from CNY 11,075,913,239.79, a reduction of 4.01%[17] - The company's total equity attributable to shareholders increased by 4.25% to ¥3,786,573,040.56 compared to the end of the previous year[5] - The total equity attributable to shareholders increased to CNY 3,786,573,040.56 from CNY 3,632,248,157.61, representing a growth of 4.25%[17] Cash Flow - The net cash flow from operating activities for Q3 2022 was ¥201,848,039.25, down 40.69% year-over-year, primarily due to delayed settlement of sales and operational payments[8] - Cash flow from operating activities for Q3 2022 was CNY 201,848,039.25, a significant decrease of 40.6% compared to CNY 340,315,823.33 in Q3 2021[21] - Total cash inflow from operating activities was CNY 2,991,868,469.86, compared to CNY 2,971,584,154.31 in the previous year, showing a slight increase of 0.7%[21] - The net cash flow from financing activities for Q3 2022 was -CNY 320,762,084.14, worsening from -CNY 141,254,553.03 in Q3 2021[22] - The company's total cash inflow from financing activities was CNY 5,574,326,690.00, compared to CNY 2,260,400,000.00 in the previous year, indicating a substantial increase of 146.5%[22] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 24,717, with the top ten shareholders holding a combined 31.13% of the shares[9] - The top ten shareholders hold a total of 116,988,133 shares, with the largest shareholder being Anhui Guozhen Group Co., Ltd.[10] - The company reported a total of 1,486,181 shares under lock-up for executives, with no shares released during the period[13] Research and Development - Research and development expenses for Q3 2022 were ¥16,666,123.41, a decrease of 31.58% compared to the same period last year, attributed to the completion of several R&D projects[8] - Research and development expenses were CNY 16,666,123.41, down 31.5% from CNY 24,358,459.82 in the previous period[18] Market and Future Outlook - The company is focused on expanding its market presence and developing new technologies, although specific figures were not disclosed in the report[10] - Future guidance remains optimistic, with expectations for continued growth in user data and market expansion[10] - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[19] Other Financial Metrics - The company reported a significant increase in asset disposal income for Q3 2022, amounting to ¥31,511,253.89, compared to a loss of ¥5,659.84 in the same period last year, due to the disposal of a wastewater treatment project[8] - The company experienced a 67.58% increase in prepayments, totaling ¥118,809,943.70, mainly due to increased prepayments for equipment and materials[8] - The company has a significant amount of other receivables totaling CNY 311.61 million, up from CNY 255.38 million, reflecting an increase of approximately 22%[15] - The cash and cash equivalents decreased to CNY 1.07 billion from CNY 1.39 billion at the beginning of the year, reflecting a decline of about 23.3%[15] - Accounts receivable increased to CNY 1.50 billion, up from CNY 1.46 billion, indicating a growth of approximately 2.5%[15] - Inventory rose significantly to CNY 287.79 million, compared to CNY 192.68 million, marking an increase of about 49.3%[15] - The company reported an investment loss of CNY 781,231.96, an improvement compared to a loss of CNY 6,889,873.06 in the prior period[18] - Cash outflow from investing activities was CNY 398,581,313.43, down from CNY 530,585,758.78 in the previous year, indicating a reduction of approximately 25%[22] - The company reported a cash inflow from the disposal of fixed assets of CNY 117,758,610.00, a significant increase from CNY 2,300.00 in the previous year[21] - The company received CNY 9,000,000.00 from minority shareholders as part of investment absorption in Q3 2022[22]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥2,008,823,262.81, representing a 4.49% increase compared to ¥1,922,460,866.74 in the same period last year[21]. - The net profit attributable to shareholders was ¥204,780,078.11, which is a 21.32% increase from ¥168,799,728.50 year-on-year[21]. - Basic earnings per share increased by 24.15% to ¥0.3007, compared to ¥0.2422 in the same period last year[21]. - Revenue growth during the reporting period was primarily driven by the water service operations segment, attributed to the commissioning of ongoing projects and price adjustments[40]. - The company reported a total of 23 new EPC orders worth ¥70,559.39 million, with 93 confirmed revenue orders totaling ¥84,829.24 million[50]. - The company's operating revenue for the current period is ¥2,008,823,262.81, representing a year-on-year increase of 4.49% compared to ¥1,922,460,866.74 in the same period last year[48]. - The net profit after deducting non-recurring gains and losses for the current period is RMB 14,410,320, down 12.58% year-on-year[174]. - The company's total comprehensive income for the first half of 2022 was CNY 99,131,793.59, compared to CNY 29,692,068.95 in the same period of 2021[191]. Cash Flow and Investments - The net cash flow from operating activities decreased by 58.48% to ¥63,081,015.58, down from ¥151,934,079.42 in the previous year[21]. - The net cash flow from investing activities improved by 101.64%, reaching ¥5,874,979.30 compared to a negative ¥358,580,993.40 in the previous year, mainly from equity transfer payments[48]. - The net cash flow from financing activities saw a drastic decline of 1,848.36%, amounting to -¥220,464,482.10, due to controlled loan scales and reduced net loan amounts[48]. - The total cash and cash equivalents decreased by 32.58% to -¥146,393,311.03 from -¥217,141,266.48, reflecting the impact of equity transfer payments received[48]. - The net cash flow from operating activities was CNY 63,081,015.58, a decrease from CNY 151,934,079.42 in the first half of 2021[192]. - The net cash flow from investing activities was 139,431,882.12 CNY, compared to a negative cash flow of -156,445,572.81 CNY in the previous period[196]. Assets and Liabilities - Total assets at the end of the reporting period were ¥14,721,661,064.87, a decrease of 1.91% from ¥15,008,520,150.54 at the end of the previous year[21]. - The total liabilities decreased to CNY 10,692,333,787.04 from CNY 11,075,913,239.79, a reduction of approximately 3.47%[180]. - The company's total liabilities decreased to CNY 5,767,985,259.87 from CNY 5,999,528,847.74, a reduction of 3.9%[186]. - The company's equity attributable to shareholders increased to CNY 3,753,043,197.16 from CNY 3,632,248,157.61, reflecting an increase of about 3.32%[180]. - The company's total assets decreased to CNY 14,721,661,064.87 from CNY 15,008,520,150.54, a decline of approximately 1.92%[180]. Research and Development - Research and development expenses decreased significantly by 43.58% to ¥10,469,298.31 from ¥18,555,179.30, attributed to project-based spending adjustments[48]. - The company holds 98 national patents, including 43 invention patents, reflecting its commitment to innovation and technology development[42]. - Research and development expenses for the first half of 2022 were CNY 10,469,298.31, down 42.5% from CNY 18,194,729.58 in the same period of 2021[186]. Environmental Compliance and Initiatives - The company is classified as a key pollutant discharge unit by environmental protection authorities, with specific pollutant discharge amounts detailed in the report[81]. - The company reported a total COD (Chemical Oxygen Demand) discharge of 912.5 tons per year across its wastewater treatment facilities[82]. - The company is committed to meeting the GB18918-2002 standards for wastewater discharge, ensuring compliance with national regulations[82]. - The company is focused on expanding its wastewater treatment capabilities, with a total of 5.31 tons of TP discharged annually from its facilities[82]. - The company is actively pursuing new strategies for market expansion and technological advancements in wastewater treatment[82]. - The company is committed to sustainable practices and aims to achieve zero discharge in its operations by 2025[88]. Market Position and Competition - The company faces market competition risks due to increasing demand for environmental services and competition from large state-owned enterprises[67]. - The company aims to leverage the policy and resource advantages of its controlling shareholder, China Energy Conservation Group, to become a leading enterprise in the national water service industry[46]. - The company continues to expand its market presence in the Yangtze River Economic Belt, securing multiple project contracts in Jiangsu, Hunan, and Anhui provinces[40]. - The company is exploring potential acquisition opportunities to strengthen its market position and diversify its portfolio[200]. Shareholder and Corporate Governance - The company has not provided any guarantees for related parties during the reporting period[140]. - The company reported a total guarantee amount of 1,101,355.14 million, with an actual guarantee balance of 245,258.14 million, representing 65.35% of the company's net assets[140]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[156]. - The company has not engaged in any related party transactions during the reporting period[125]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and profitability[190]. - Future outlook includes potential market expansion and new product development strategies, although specific figures were not disclosed in the report[196]. - The company plans to expand its market presence in Southeast Asia, aiming for a 15% market share by 2025[200]. - The company aims to achieve a 10% reduction in overall pollutant discharge by the end of the next fiscal year[85].

Revenue and Profit - The company's revenue for Q1 2022 was ¥835,062,458.89, representing a 9.43% increase compared to ¥763,081,757.88 in the same period last year[4] - Net profit attributable to shareholders decreased by 14.00% to ¥54,391,680.10 from ¥63,247,412.89 year-on-year[4] - The net profit for Q1 2022 was CNY 60,614,641.85, a decrease of 9.97% compared to CNY 66,950,567.58 in Q1 2021[21] - The company's net profit attributable to shareholders increased to CNY 1,273,152,722.37 from CNY 1,218,761,042.27, reflecting a growth of 4.43%[18] - The company reported a total comprehensive income of CNY 59,612,735.75, down from CNY 67,549,446.11 in Q1 2021[22] - Basic and diluted earnings per share were both CNY 0.08, compared to CNY 0.09 in the previous year[22] Cash Flow and Financial Position - The net cash flow from operating activities was negative at -¥188,200,139.40, a significant decline of 6,778.36% compared to ¥2,818,059.55 in the previous year[4] - The net cash flow from operating activities was negative at CNY -188,200,139.40, a significant decline from CNY 2,818,059.55 in the same period last year[24] - Cash and cash equivalents increased to CNY 1,492,061,440.67 from CNY 1,391,615,421.85, representing an increase of 7.23%[15] - Cash and cash equivalents at the end of the period increased to CNY 1,380,073,260.17 from CNY 1,018,812,469.30 at the end of the previous period[24] - The cash flow from investing activities was negative at CNY -8,991,144.65, an improvement from CNY -275,362,301.12 in the previous year[24] - The company experienced a decrease in operating cash outflows, totaling CNY 1,232,104,315.63 compared to CNY 1,156,243,918.39 in the previous period[24] Assets and Liabilities - The total assets at the end of the reporting period were ¥14,980,589,073.78, a slight decrease of 0.19% from ¥15,008,520,150.54 at the end of the previous year[4] - The total assets decreased slightly to CNY 14,980,589,073.78 from CNY 15,008,520,150.54, a decline of 0.19%[18] - Total liabilities decreased to CNY 10,988,368,491.03 from CNY 11,075,913,239.79, a decrease of 0.79%[18] - The total equity attributable to shareholders increased to CNY 3,685,638,867.86 from CNY 3,632,248,157.61, an increase of 1.47%[18] Research and Development - R&D expenses for the period were ¥4,362,060.57, down 61.72% from ¥11,393,830.19 in the same period last year[8] - The company reported a decrease in research and development expenses to CNY 4,362,060.57 from CNY 11,393,830.19, a reduction of 61.73%[20] Operational Performance - The total operating revenue for the first quarter was CNY 835,062,458.89, an increase of 9.42% compared to CNY 763,081,757.88 in the same period last year[20] - The total operating costs amounted to CNY 772,407,076.97, up from CNY 703,928,582.06, reflecting a year-over-year increase of 9.73%[20] - The gross profit margin for the quarter was approximately 7.53%, down from the previous year's margin[20] Other Financial Activities - Cash received from the disposal of subsidiaries and other business units was ¥117,000,000.00, a remarkable increase of 3,950.40% compared to ¥2,888,603.55 in the previous year[8] - Cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets was ¥114,026,244.65, down 53.53% from ¥245,352,704.67 in the previous year[8] - The company obtained cash from borrowings amounting to ¥1,048,910,000.00, an increase of 113.41% compared to ¥491,500,000.00 in the previous year[8] - The company raised CNY 1,048,910,000.00 through financing activities, significantly higher than CNY 491,500,000.00 in the prior period[24] Accounts Receivable and Prepayments - Accounts receivable decreased to CNY 1,375,988,907.15 from CNY 1,461,498,399.30, a reduction of about 5.85%[16] - The company's prepayments increased by 113.9% to ¥151,715,359.56 compared to ¥70,899,003.44 at the beginning of the period, mainly due to increased advance payments for equipment and project costs[8] Miscellaneous - The company did not conduct any audited financial reporting for Q1 2022[25]

Financial Performance - The company's operating revenue for 2021 was CNY 4,476,914,403.81, representing a 15.71% increase compared to CNY 3,869,243,263.66 in 2020[17]. - The net profit attributable to shareholders for 2021 was CNY 366,705,952.53, which is a 10.62% increase from CNY 331,491,492.20 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was CNY 286,167,010.84, showing a decrease of 3.18% from CNY 295,579,617.79 in 2020[17]. - The net cash flow from operating activities was CNY 927,999,160.55, an increase of 6.88% compared to CNY 868,297,798.97 in 2020[17]. - The basic earnings per share for 2021 was CNY 0.5314, up 9.68% from CNY 0.4845 in 2020[17]. - The total assets at the end of 2021 were CNY 15,008,520,150.54, a 1.12% increase from CNY 14,842,120,268.09 at the end of 2020[17]. - The net assets attributable to shareholders decreased by 6.55% to CNY 3,632,248,157.61 from CNY 3,886,852,775.24 in 2020[17]. - The company reported a total of 53 new orders in the EPC category, amounting to ¥147.10 million, with 185 orders confirmed for revenue recognition[52]. - The company reported a total revenue of 2.14 billion in 2021, with a year-on-year increase of 5%[97]. - The company achieved a total operating revenue of CNY 4.48 billion in 2021, representing a year-on-year increase of 15.71%[43]. Market and Industry Trends - The water industry is transitioning from expansion to refined management, focusing on wastewater resource utilization and integrated project development[28]. - The market for wastewater resource utilization is expected to grow significantly, with the reuse rate of wastewater currently below 10%[29]. - The government has prioritized drinking water quality, with plans to improve standards by 2022 and 2030, promoting direct drinking water projects[30]. - The rural and county-level water management market is rapidly expanding, with increased policy support driving growth[31]. - Future projections indicate a steady growth in demand for wastewater treatment services, driven by urbanization and regulatory requirements[154]. Operational Capacity and Projects - The company operates over 100 sewage treatment plants with a processing capacity of 5.46 million tons per day, including 140,000 tons per day under construction and 1.85 million tons per day under management[32]. - The company has participated in the construction of over 300 sewage treatment projects, with more than 100 projects undertaken, showcasing its extensive experience in the industry[38]. - The company successfully operated 6 industrial water treatment plants and 1 coal chemical park, with a total industrial water treatment capacity of nearly 200,000 tons per day[41]. - The company has established a complete industrial chain advantage, providing comprehensive solutions in urban water environment governance, industrial wastewater treatment, and rural water environment governance[33]. - The company has a total pipeline network of 5,289 kilometers, enhancing its operational capacity and market presence[32]. Research and Development - The company holds 98 national patents, including 43 invention patents, demonstrating its commitment to innovation and technology[38]. - The company has established partnerships with over 30 domestic universities and research institutions, enhancing its research and development capabilities[38]. - The company aims to achieve significant advancements in wastewater treatment technology through ongoing R&D projects, including the integration of key technologies[61]. - The company reported a research and development (R&D) expenditure of ¥35,377,592.46 in 2021, which represents 0.79% of its operating revenue[64]. - The company is focusing on optimizing the design of its screen equipment to enhance energy efficiency and reduce operational costs[62]. Environmental Compliance and Sustainability - The company is classified as a key pollutant discharge unit, with specific emissions monitored and reported[153]. - The wastewater treatment plants operated under the Class A discharge standard, ensuring compliance with environmental regulations[154]. - The company is committed to continuous improvement in its environmental performance metrics[155]. - The company has established a compliance framework for wastewater treatment, adhering to the national standards for pollutant discharge[166]. - The company is committed to achieving a 30% reduction in pollutant discharge levels by 2025 as part of its sustainability strategy[186]. Governance and Management - The company has established a comprehensive corporate governance structure, ensuring effective operation of the shareholders' meeting, board of directors, and supervisory board[138]. - The company has a diverse board with members holding various positions in other companies, indicating strong industry connections[112]. - The company has established a transparent performance evaluation and incentive mechanism for its directors and senior management, ensuring compliance with relevant laws[89]. - The company has not faced any penalties from securities regulatory agencies in the past three years[114]. - The company has conducted multiple shareholder meetings, with participation rates ranging from 20.61% to 49.76% during the reporting period[94]. Financial Management - The company optimized its financial resources, obtaining an additional credit line of CNY 3.7 billion, significantly reducing financial costs[44]. - The company reported investment income of ¥49,698,231.39, accounting for 10.10% of total profit[68]. - The company has a capital reserve balance of RMB 1,711,718,973.60 as of the end of 2021[135]. - The company has implemented strict asset control measures, including regular inventory checks and asset insurance, to prevent theft and loss[145]. - The company has established control procedures including transaction authorization, responsibility segregation, and independent auditing to mitigate operational risks[143]. Strategic Outlook - The company plans to enhance business synergy with China Energy Conservation, focusing on complementary strengths in water supply and wastewater treatment[79]. - The company aims to achieve a biological nitrogen removal rate greater than 80% and a total nitrogen (TN) output of less than 15 mg/L in its wastewater treatment plants[63]. - The company is exploring new models for watershed governance, successfully implemented in the Hefei Shiwuli River watershed project[80]. - The company is actively pursuing partnerships and potential acquisitions to enhance its service offerings and market reach[171]. - The company plans to expand its market presence by increasing the number of wastewater treatment facilities, targeting a 20% growth in capacity over the next year[165].

Revenue and Profit - Revenue for Q3 2021 reached ¥1,041,605,409.93, an increase of 11.99% year-over-year, while year-to-date revenue was ¥2,964,066,276.67, up 16.88% compared to the same period last year[3] - Net profit attributable to shareholders for Q3 2021 was ¥104,514,363.49, a decrease of 7.37% year-over-year, with year-to-date net profit at ¥273,314,091.99, reflecting a slight increase of 0.65%[3] - The company’s diluted earnings per share for Q3 2021 was ¥0.1466, down 8.32% from the same period last year[3] - Total operating revenue for the current period reached ¥2,964,066,276.67, an increase of 16.8% compared to ¥2,536,057,433.14 in the previous period[20] - Operating profit for the current period was ¥352,702,214.90, slightly up from ¥351,470,420.31 in the previous period[21] - Net profit for the current period was ¥293,738,499.55, compared to ¥290,709,977.17 in the previous period, reflecting a growth of 1.0%[21] - The total comprehensive income for the current period was ¥293,479,590.18, slightly up from ¥288,353,969.91 in the previous period[22] - Basic earnings per share for the current period was ¥0.3933, down from ¥0.4014 in the previous period[22] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥340,315,823.33, down 40.18% compared to the previous year[8] - Cash flow from operating activities generated a net amount of ¥340,315,823.33, down from ¥568,855,828.18 in the previous period[25] - Cash flow from investing activities resulted in a net outflow of ¥515,894,855.23, an improvement from a net outflow of ¥911,531,108.96 in the prior period[25] - Cash flow from financing activities showed a net outflow of ¥141,254,553.03, compared to a net inflow of ¥143,594,844.77 in the previous period[26] Assets and Liabilities - Total assets at the end of Q3 2021 were ¥14,599,098,041.34, a decrease of 1.64% from the end of the previous year[4] - The company's current assets decreased to RMB 4,318,933,685.07 from RMB 4,520,591,348.71 at the end of 2020, reflecting a decline of approximately 4.5%[16][18] - Cash and cash equivalents decreased significantly to RMB 1,119,432,052.64 from RMB 1,508,543,864.29, representing a decline of about 25.9%[16][18] - The total liabilities of the company decreased slightly to RMB 10,540,930,270.03 from RMB 10,648,218,295.75, a reduction of about 1%[18] - The company's equity attributable to shareholders decreased by 3.84% to ¥3,737,547,032.05 compared to the end of the previous year[4] - The company's equity attributable to shareholders decreased to RMB 3,737,547,032.05 from RMB 3,886,852,775.24, reflecting a decline of approximately 3.8%[18] - The long-term borrowings increased to RMB 5,328,487,074.12 from RMB 5,196,855,452.95, indicating an increase of about 2.5%[17][18] Research and Development - Research and development expenses for the current period were ¥24,358,459.82, a decrease of 39.72% year-over-year, attributed to the completion of several R&D projects[8] - The company reported a decrease in research and development expenses to ¥24,358,459.82 from ¥40,406,334.59, a reduction of 39.9%[20] Inventory and Receivables - The inventory increased to RMB 309,630,250.89 from RMB 226,722,370.53, representing an increase of approximately 36.5%[16][18] - Accounts receivable increased to RMB 1,412,558,174.53 from RMB 1,351,396,860.38, showing an increase of approximately 4.9%[16][18] Other Financial Information - The company reported a significant increase in prepayments, which rose by 192.33% to ¥155,604,748.36, mainly due to increased prepayments for equipment and raw material purchases[8] - The company’s long-term receivables decreased by 97.67% to ¥134,475,998.23, primarily due to adjustments in accounting policies related to franchise projects[8] - The company reported a significant increase in intangible assets from CNY 2,169,019,179.79 to CNY 6,982,912,861.83, an increase of CNY 4,813,893,682.04[29] - The company has implemented the new leasing standards starting January 1, 2021, which required adjustments to the financial statements[31]

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥1.92 billion, representing a 19.71% increase compared to ¥1.61 billion in the same period last year[19]. - The net profit attributable to shareholders was approximately ¥168.80 million, a 6.34% increase from ¥158.73 million in the previous year[19]. - The net profit after deducting non-recurring gains and losses was approximately ¥164.84 million, reflecting a 5.11% increase from ¥156.83 million year-on-year[19]. - The net cash flow from operating activities was approximately ¥151.93 million, up 3.50% from ¥146.80 million in the same period last year[19]. - The total revenue for the reporting period reached 305,869.33 million yuan, with a significant increase in energy-saving and environmental protection project orders[42]. - The company confirmed revenue of 141,234.59 million yuan from major energy-saving and environmental protection projects, which accounted for over 30% of the audited operating income from the previous fiscal year[42]. - The company's operating revenue for the reporting period reached CNY 1,922,460,866.74, representing a year-on-year increase of 19.71% due to the growth in water service operations[38]. - The operating cost increased by 25.63% to CNY 1,385,473,057.05, corresponding to the rise in revenue[38]. - The company reported a management expense increase of 34.02% to CNY 87,431,216.51, primarily due to rising labor costs[39]. - Research and development investment decreased by 23.89% to CNY 18,555,179.30, reflecting a reduction in project-related expenditures[39]. - The total comprehensive income for the first half of 2021 was CNY 181,668,615.22, compared to CNY 170,928,278.64 in the first half of 2020, marking an increase of 6.5%[200]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥14.65 billion, a decrease of 1.31% from ¥14.84 billion at the end of the previous year[19]. - The net assets attributable to shareholders decreased by 6.53% to approximately ¥3.63 billion from ¥3.89 billion at the end of the previous year[19]. - The total liabilities increased, with short-term loans rising by 2.46% to 1,952,801,040.84 yuan due to increased working capital needs[47]. - The company's total liabilities increased to CNY 5,764,919,345.28 in the first half of 2021, compared to CNY 5,299,668,180.29 in the same period of 2020, reflecting a growth of 8.8%[196]. - The total assets of the company amounted to CNY 8,721,634,195.52, up from CNY 8,437,095,524.19 in the previous year, indicating a growth of 3.4%[196]. - The company's total equity decreased from CNY 4.19 billion to CNY 3.95 billion, a decline of about 5.8%[192]. Shareholder Information - The company did not distribute cash dividends or issue bonus shares for this period[5]. - The company has a total of 26,264 common shareholders as of the end of the reporting period[160]. - The largest shareholder, Anhui Guozhen Group, holds 16.74% of the shares, amounting to 116,988,133 shares[160]. - China Energy Conservation and Environmental Protection Group holds 14.39% of the shares, totaling 100,588,051 shares[160]. - The company completed a share buyback of 18,040,754 shares, representing 2.58% of the total share capital, with a total expenditure of approximately RMB 150.99 million[155]. - The maximum buyback price was RMB 10.8 per share, while the minimum was RMB 7.85 per share[155]. Operational Capacity and Projects - The company operates over 100 wastewater treatment plants with a treatment capacity of 5.454 million tons per day, including 337,100 tons per day under construction and 1,867,500 tons per day under management[31]. - The total operational scale of industrial water reached nearly 200,000 tons per day, with 6 industrial water treatment plants and 1 coal chemical park in operation[35]. - The company has participated in the construction of over 300 wastewater treatment projects, with more than 100 projects undertaken, showcasing its extensive experience in the industry[32]. - The company has established a complete industrial chain for water resource utilization, providing integrated solutions in urban water environment governance, industrial wastewater treatment, and rural water environment management[26]. - The company aims to expand its market presence internationally, having acquired companies like Maiwang Environmental Technology and Biovac, and is involved in projects across the US, Norway, Sweden, and Denmark[32]. Environmental Compliance and Sustainability - The company reported a total discharge of COD at 8 tons, ammonia nitrogen at 27.186 tons, TN at 172.81 tons, and TP at 23.725 tons annually, with no exceedance of discharge standards[72]. - The company adheres to GB18918-2002 standards for wastewater discharge, ensuring compliance with first-class A standards across its facilities[72]. - The company has implemented continuous discharge methods at its facilities, ensuring consistent compliance with environmental regulations[73]. - The company is focused on reducing pollutant discharge and improving treatment efficiency through ongoing technological advancements[73]. - The company is committed to meeting environmental standards, with specific discharge limits for ammonia nitrogen set at 0.8 mg/L[74]. - The company has established a continuous monitoring system for pollutant discharge across its facilities[74]. Risks and Challenges - The company faces increasing market competition, particularly from large state-owned enterprises entering the environmental protection industry, which intensifies the competitive landscape[58]. - The company is exposed to operational risks due to performance assessment requirements in PPP projects, which could lead to reduced revenues if performance criteria are not met[59]. - There is a risk of goodwill impairment following acquisitions, which could negatively impact the company's financial results if the acquired companies perform poorly[62]. - The company faces inventory impairment risks due to the reliance on local government budgets and financial conditions affecting the collection of receivables[63]. - The company is at risk of talent loss as competition for skilled professionals in the environmental sector intensifies, which could hinder its innovation and operational capabilities[64]. Future Outlook and Strategic Initiatives - The company aims to expand its market presence by entering three new provinces, aiming for a 10% market share increase in the next two years[138]. - The company is exploring potential mergers and acquisitions to enhance its market presence in the environmental sector[74]. - The company plans to enhance its management practices to mitigate risks associated with rapid growth, including improving cash flow management and internal controls[64]. - The company is optimistic about future growth, projecting a revenue increase of 15% for the next fiscal year based on current market trends and demand[138]. - The overall market outlook remains positive, with an expected industry growth rate of 12% in the environmental technology sector[138].

Financial Performance - The company's revenue for Q1 2021 was ¥763,081,757.88, representing a 17.27% increase compared to ¥650,708,019.44 in the same period last year[8]. - Net profit attributable to shareholders was ¥63,247,412.89, up 32.66% from ¥47,676,024.79 year-on-year[8]. - Basic earnings per share increased by 28.57% to ¥0.09 from ¥0.07 in the same period last year[8]. - The company's total revenue for the reporting period was 763.08 million yuan, an increase of 17.27% compared to the same period last year[19]. - The net profit attributable to shareholders was 63.25 million yuan, reflecting a growth of 32.66% year-on-year[19]. - The total comprehensive income for Q1 2021 was CNY 67,549,446.11, compared to CNY 52,080,994.75 in the previous year, marking an increase of approximately 29.7%[45]. - The company's operating profit for Q1 2021 was CNY 78,256,338.94, compared to CNY 61,448,680.88 in the same period last year, showing an increase of about 27.3%[44]. Cash Flow and Liquidity - The net cash flow from operating activities improved significantly to ¥2,818,059.55, a turnaround from a negative cash flow of ¥119,576,759.14 in the previous year, marking a 102.36% increase[8]. - Cash received from sales and services was 1.08 billion yuan, a 34.10% increase year-on-year, attributed to improved cash collection from operations[18]. - The cash flow from operating activities was CNY 1,082,490,547.76, compared to CNY 807,214,701.90 in the previous period, indicating a strong increase in cash inflow[51]. - The ending balance of cash and cash equivalents was 1,018,812,469.30 CNY, compared to 843,787,778.85 CNY at the end of the previous year[53]. - The company experienced a net decrease in cash and cash equivalents of -256,330,360.99 CNY during the quarter[53]. Assets and Liabilities - Total assets decreased by 4.56% to ¥14,165,562,268.75 from ¥14,842,120,268.09 at the end of the previous year[8]. - The company's current assets decreased to RMB 4.09 billion from RMB 4.52 billion at the end of 2020, indicating a decline of approximately 9.5%[33]. - The company's total liabilities decreased to RMB 10.12 billion from RMB 10.65 billion, reflecting a reduction of approximately 5%[35]. - The company's total equity as of March 31, 2021, was CNY 3,136,379,268.14, slightly down from CNY 3,137,427,343.90[40]. - The company's total liabilities reached CNY 10,648,218,295.75, which is CNY 240,384,427.21 higher than the previous period[61]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 28,103[12]. - The largest shareholder, Anhui Guozhen Group Co., Ltd., held 16.74% of the shares, amounting to 116,988,133 shares[12]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[13]. - The company has repurchased a total of 2,258,113 shares, representing 0.32% of the total share capital, with a total expenditure of approximately RMB 22.3 million[25]. Operational Highlights - The company aims to enhance its market position by focusing on industrial wastewater treatment, park management, and rural water supply and drainage during the "14th Five-Year Plan" period[21][22]. - The company plans to leverage digitalization and information technology to improve asset management and operational efficiency[22]. - The collaboration with China Energy Conservation is expected to create synergies, enhancing both companies' strengths in water treatment and supply[19][20]. - The company has successfully implemented a new model for comprehensive river basin governance, as demonstrated in the Hefei Shiwuli River project[22]. Research and Development - Research and development expenses for Q1 2021 amounted to CNY 7,133,807.08, slightly up from CNY 6,924,173.83 in the previous year[47]. - The company has no significant changes in its core technology team or key technical personnel during the reporting period[24]. Accounting and Standards - The report indicates that the first quarter results have not been audited[71]. - The company has implemented new leasing standards effective from January 1, 2021, impacting accounting policies[70].

Financial Performance - The company's operating revenue for 2020 was CNY 3,869,243,263.66, a decrease of 7.21% compared to CNY 4,169,813,123.12 in 2019[26]. - The net profit attributable to shareholders for 2020 was CNY 331,491,492.20, representing a slight increase of 1.55% from CNY 326,434,656.11 in 2019[26]. - The net profit after deducting non-recurring gains and losses was CNY 295,579,617.79, down 5.66% from CNY 313,327,769.61 in 2019[26]. - The net cash flow from operating activities increased by 7.62% to CNY 868,297,798.97 in 2020, compared to CNY 806,826,447.11 in 2019[26]. - The total assets at the end of 2020 were CNY 14,842,120,268.09, an increase of 2.64% from CNY 14,459,883,687.97 at the end of 2019[26]. - The net assets attributable to shareholders increased by 12.67% to CNY 3,886,852,775.24 at the end of 2020, compared to CNY 3,449,883,417.67 at the end of 2019[26]. - The company reported a basic earnings per share of CNY 0.4845, a decrease of 10.28% from CNY 0.54 in 2019[26]. - The company achieved operating revenue of 3.869 billion yuan, a year-on-year decrease of 7.21%, while net profit attributable to shareholders was 331 million yuan, an increase of 1.55%[41]. Risk Management - The company is exposed to operational risks due to the implementation of new environmental standards, which may require significant upgrades to existing facilities[7]. - The company has a risk of goodwill impairment following acquisitions, which could negatively impact its financial results if the acquired companies perform poorly[11]. - The company is focusing on enhancing its management capabilities to mitigate risks associated with its rapid expansion and numerous subsidiaries[9]. - The company acknowledges the risk of talent loss in a competitive market, which could affect its innovation and operational capabilities[14]. - The company is actively monitoring changes in risk factors to maintain stable and rapid growth[14]. Business Strategy and Operations - The company is focused on urban water environment governance, industrial wastewater treatment, and rural water environment management as its main business areas[36]. - The company has established a complete industrial chain advantage, providing project investment, technology research and development, design, construction, equipment manufacturing, and project operation services[36]. - The company aims to create a clean and beautiful living environment, emphasizing the importance of technology optimization and smart operation in its projects[36]. - The company operates under a PPP model for many projects, which requires careful performance assessment to avoid revenue reductions[7]. - The company has diversified its business model, including investment operations, environmental engineering EPC services, and water treatment equipment production and sales[38]. - The company is actively involved in the "Yangtze River Protection" strategy, focusing on expanding its water treatment operations and enhancing its smart water management platform[42]. - The company has made significant investments in overseas assets, including a 56.12 million yuan acquisition in Norway and a 30.73 million yuan acquisition in the United States[47]. - The company is positioned in a growing industry with increasing demand for water environment governance, supported by government policies and regulations[43]. Research and Development - The company holds 73 national patents, including 37 invention patents, and has established a comprehensive technology innovation and achievement transformation system[49]. - The company has established extensive cooperation with over 30 domestic universities and research institutions, enhancing its research and development capabilities[49]. - The company has been recognized with three National Science and Technology Progress Awards, highlighting its leadership in technology innovation within the industry[49]. - The company has invested 2,000 million RMB in research and development for innovative water purification technologies[132]. - The company aims to introduce new products and technologies in the next fiscal year to improve operational efficiency and environmental compliance[156]. Environmental Compliance and Impact - The company is classified as a key pollutant discharge unit by environmental protection authorities, indicating its significant role in environmental management[145]. - The company has reported specific pollutant discharge data, including COD at 11.649 mg/L and ammonia nitrogen at 51.553 mg/L, with total annual discharges of 2372.5 tons for COD and 237.25 tons for ammonia nitrogen[145]. - The company adheres to GB18918-2 standards for wastewater treatment, with a total annual discharge of 583.987 tons for COD and 711.75 tons for TN[145]. - The company has established environmental protection education bases to engage the public and promote environmental awareness[142]. - The company has received widespread recognition and praise both domestically and internationally for its service quality and commitment to social responsibility[142]. Shareholder and Financial Policies - The profit distribution plan approved by the board includes a cash dividend of 1.2 RMB per 10 shares (tax included) and no bonus shares[14]. - The company declared a cash dividend of RMB 1.2 per 10 shares, totaling RMB 83,604,268.56 for the reporting period, which represents 100% of the distributable profit[98]. - The cash dividend for 2020 accounted for 25.22% of the net profit attributable to the company's ordinary shareholders[102]. - The company has consistently maintained a cash dividend payout ratio of at least 20% in recent years, aligning with its profit distribution policy[99]. - The company has not proposed any changes to its cash dividend policy during the reporting period[103]. Corporate Governance - The company maintained a strict internal control system in compliance with relevant laws and regulations to protect shareholder rights[58]. - The company has complied with all commitments made by its controlling shareholders and related parties during the reporting period[103]. - The company has implemented changes in accounting policies as required by the Ministry of Finance, effective from January 1, 2020[106]. - The company appointed Da Xin Accounting Firm with an audit fee of 1.3 million CNY for two consecutive years[107]. - The company has not faced any delisting situations following the annual report disclosure[107]. Social Responsibility - The company actively participates in social responsibility initiatives, supporting industry economic development and engaging in various environmental education activities[142]. - The company has established "social practice bases" in collaboration with multiple sewage treatment plants and universities, promoting green and low-carbon concepts[142]. - The company plans to donate 3 million RMB to the Anhui Guozhen Charity Foundation for public welfare projects[122]. - The company has implemented various poverty alleviation strategies, although specific quantitative data on these initiatives is not provided[144].