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].

Financial Performance - Net profit attributable to shareholders was CNY 112,825,25, representing a year-on-year increase of 15.85%[8] - Operating revenue for the reporting period was CNY 930,115,18, an increase of 3.92% compared to the same period last year[8] - Basic earnings per share increased by 7.94% to CNY 0.1659[8] - The weighted average return on net assets was 3.09%, an increase of 0.19% compared to the previous year[8] - Operating profit for the current period was ¥151,480,347.09, compared to ¥123,159,310.53 in the previous period, reflecting a growth of approximately 22.9%[39] - Net profit for the current period was ¥120,707,004.81, an increase from ¥105,839,959.67, which is a growth of around 14.0%[39] - Total comprehensive income for the current period was ¥117,425,691.27, compared to ¥96,680,947.62 in the previous period, indicating an increase of approximately 21.4%[40] - Net profit for the current period is $290,709,977.17, representing an increase of 7.67% compared to $269,638,475.28 in the previous period[47] Cash Flow - The net cash flow from operating activities was CNY 568,855,82, a significant increase of 56.15% compared to the previous year[8] - The net cash flow from operating activities was ¥568,855,828.18, a year-on-year increase of 56.15%, mainly due to improved cash collection following the favorable domestic pandemic situation[19] - The net cash flow from financing activities decreased by 95.30% to ¥143,594,844.77, mainly due to reduced project financing as projects commenced operations[19] - The net cash flow from financing activities was ¥143,594,844.77, down from ¥3,053,182,460.05 in the previous year[55] Assets and Liabilities - Total assets at the end of the reporting period were CNY 14,320,009,105.58, a decrease of 0.97% compared to the end of the previous year[8] - Current liabilities decreased to ¥4,494,108,574.54 from ¥4,977,158,034.58, a reduction of 9.7%[31] - Total liabilities decreased to ¥10,191,525,443.53 from ¥10,715,080,602.58, a decrease of 4.9%[31] - Owner's equity increased to ¥4,128,483,662.05 from ¥3,744,803,085.39, reflecting a growth of 10.3%[32] - Long-term receivables increased to ¥5,747,111,664.51 from ¥5,590,915,783.79, representing a growth of 2.8%[30] - Total liabilities amounted to CNY 10,715,080,602.58, with a slight decrease of CNY 342,801.91[63] Shareholder Information - The total number of common shareholders at the end of the reporting period was 30,948[12] - The largest shareholder, Anhui Guozhen Group Co., Ltd., holds 31.13% of the shares[12] - The company reported a total of 217,576,184 shares held by Anhui Guozhen Group Co., Ltd., representing a significant portion of its equity structure[13] - The top ten unrestricted shareholders collectively hold 34,554,134 shares, accounting for approximately 4.94% of the total shares[13] Operational Insights - The company has not reported any new product developments or technological advancements in this quarter[18] - There are no indications of market expansion or mergers and acquisitions mentioned in the report[18] - The company has maintained its existing strategies without introducing new initiatives during this reporting period[18] - The report does not provide specific future performance guidance or outlook for the upcoming quarters[18] Inventory and Prepayments - Prepayments at the end of the period amounted to ¥77,738,506, a decrease of 32.78% compared to the beginning of the year, mainly due to settlements with suppliers[19] - Inventory at the end of the period reached ¥424,858,602.60, an increase of 89.11% from the beginning of the year, primarily due to an increase in equipment and materials awaiting installation[19] - Inventory decreased significantly to ¥289,598,808.81 from ¥801,288,079.36, a decline of 63.8%[32] Financial Expenses - Financial expenses increased by 36.07% to ¥258,636,191.50, primarily due to increased interest expenses from project operations and financing scale growth[19] - Financial expenses rose to $258,636,191.50, up 36.1% from $190,071,509.18[47] Research and Development - Research and development expenses decreased to ¥13,901,293.05 from ¥15,744,625.30, a reduction of about 11.7%[38] - Research and development expenses rose to $40,406,334.59, an increase of 4.2% from $38,595,840.12[46]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥1,605,942,249.07, a decrease of 4.73% compared to the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥158,731,707.08, representing an increase of 1.81% year-on-year[18]. - The net cash flow from operating activities was ¥146,795,433.09, a significant decrease of 74.30% compared to the previous year[18]. - The basic earnings per share decreased by 16.19% to ¥0.2351[18]. - Total assets at the end of the reporting period were ¥14,612,765,098.51, an increase of 1.06% from the end of the previous year[18]. - The net assets attributable to shareholders of the listed company increased by 4.18% to ¥3,594,235,566.06[18]. - The weighted average return on net assets decreased to 4.44%, down by 2.38% from the previous year[18]. - The company reported non-recurring gains and losses totaling ¥1,899,523.98 for the reporting period[22]. - Cash flow from operating activities decreased by 74.30% to CNY 146,795,433.09, mainly due to delayed collection of receivables caused by the pandemic[44]. - The company reported a net profit attributable to shareholders of CNY 15,683,220, an increase of 2.26% year-on-year, driven by higher operational income and gross margin[40]. Business Operations - The investment operation business generated revenue of 803.65 million CNY, up 24.5% year-on-year, with a gross margin of 42.84%, an increase of 4.88%[26]. - The environmental engineering EPC business reported revenue of 722.44 million CNY, down 24.99% year-on-year[26]. - The company has completed and put into operation projects with a total contract amount of 895 million CNY during the reporting period[27]. - The company operates over 100 sewage treatment plants with a treatment capacity of 5.46 million tons per day, including 362,000 tons per day under construction[27]. - The company has expanded its business to cover 14 provinces in China, utilizing various treatment processes such as A²/O, oxidation ditch, SBR, MBR, and BAF[32]. - The company has developed advanced technologies for industrial wastewater treatment, including high-salt wastewater resource recovery and integrated biological reactors[34]. - The company is actively pursuing market expansion and enhancing its smart water management platform to improve operational efficiency[26]. Risks and Challenges - The company faced risks in its operations, which are discussed in detail in the report[4]. - The company faces risks related to high asset-liability ratios due to increased project financing under the PPP model[65]. - The company is exposed to market competition risks as larger state-owned enterprises enter the environmental protection industry[66]. - The company has a risk of project operation due to stringent environmental regulations and performance assessments in PPP agreements[66]. - The company faces goodwill impairment risk due to potential deterioration in the operating conditions of acquired companies[68]. - The company is exposed to inventory impairment risk influenced by local government financial conditions and efficiency[68]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - Control of the company will change following the transfer of 100,588,051 shares from the controlling shareholder to China Energy Conservation and Environmental Protection Group[68]. - The company has made commitments regarding share transfer restrictions for newly issued shares, which will be locked for 12 months[74]. - The company has a plan to use repurchased shares for future employee stock ownership plans or equity incentives[150]. - The total share capital increased from 670,587,008 shares to 679,507,926 shares due to the conversion of convertible bonds and executive lock-up shares[147]. Environmental Compliance - The company is classified as a key pollutant discharge unit by the environmental protection department[106]. - Total CODCr emissions amounted to 365 tons/year, with an average discharge concentration of 17.1 mg/L, meeting the pollution discharge standards[107]. - The company continues to monitor and report its environmental performance, demonstrating a commitment to sustainability and regulatory compliance[106]. - The company has implemented measures to ensure that all discharge levels remain within the approved limits, with no instances of exceeding discharge standards reported[106]. - The company is focused on maintaining compliance with environmental standards across all facilities[110]. Future Outlook and Strategies - The company has outlined a future outlook with a projected revenue growth of 20% for the next fiscal year, driven by new contracts and expansions[99]. - The company is actively pursuing mergers and acquisitions to strengthen its market position, with a target of acquiring at least two companies in the next 12 months[99]. - The company aims to achieve a 15% reduction in overall emissions by 2025 through innovative practices and technologies[120]. - Future strategies include enhancing wastewater treatment technologies to further reduce discharge levels[110]. - The company plans to expand its wastewater treatment capacity to accommodate increasing demand in the region[130].

Financial Performance - The company's operating revenue for 2019 was CNY 4,169,813,123.12, representing a 4.08% increase compared to CNY 4,006,383,886.29 in 2018[28]. - The net profit attributable to shareholders for 2019 was CNY 326,434,656.11, which is a 16.25% increase from CNY 280,802,813.66 in 2018[28]. - The net cash flow from operating activities for 2019 was CNY 806,826,447.11, up 7.60% from CNY 749,806,065.25 in 2018[28]. - The total assets at the end of 2019 amounted to CNY 14,459,883,687.97, a 42.53% increase from CNY 10,145,065,074.59 at the end of 2018[28]. - The net assets attributable to shareholders increased by 55.23% to CNY 3,449,883,417.67 at the end of 2019 from CNY 2,222,484,188.69 at the end of 2018[28]. - The basic earnings per share for 2019 was CNY 0.54, a 3.85% increase from CNY 0.52 in 2018[28]. - The diluted earnings per share for 2019 was CNY 0.50, up 2.04% from CNY 0.49 in 2018[28]. - The company reported a quarterly revenue of CNY 1,589,104,672.79 in Q4 2019, which was the highest among the four quarters[29]. Investment and Financing - The company raised 928 million yuan through a private placement during the reporting period to support project financing[5]. - The company is undergoing a change in control as its major shareholder transfers 15% of its shares to China Energy Conservation and Environmental Protection Group[16]. - The company engaged in a strategic placement of 109,790,001 shares, attracting strategic investors such as China Energy Conservation and Three Gorges Group[61]. - The company has committed to invest a total of RMB 151,639.82 million in various projects, with a cumulative investment of RMB 101,829 million as of the report date, achieving an investment progress of 67.06%[104]. - The company has temporarily supplemented its working capital with RMB 10,000 million of idle raised funds, which was returned to the dedicated account within six months[104]. Operational Efficiency and Management - The company is focused on enhancing its project management and operational efficiency to mitigate risks associated with rapid expansion[11]. - The company has established a three-tier safety management system, achieving a 100% compliance rate for effluent quality and zero safety incidents throughout the year[65]. - The company has implemented a comprehensive data collection system for its operational plants, enabling real-time monitoring and management through mobile applications[50]. - The company has successfully transitioned towards a light asset model, marking a significant turning point in its operational strategy[42]. - The company is focusing on smart water management as a primary direction, developing standardized and digital operational platforms[112]. Market Position and Competition - The company faces competition risks as larger state-owned enterprises enter the environmental protection industry, potentially impacting market share and profitability[8]. - The company is positioned as a leading supplier in the industrial wastewater treatment sector, providing comprehensive solutions for major clients including Sinopec and Coca-Cola[37]. - The company has expanded its water operation business to cover 14 provinces across China, utilizing various treatment processes such as A²/O and MBR[51]. - The company has established multiple business divisions, including municipal wastewater treatment, equipment manufacturing, and industrial wastewater treatment, each with good market expansion potential[112]. Research and Development - The company independently developed the OPSM process, which has three patented technologies, recognized for its efficiency and effectiveness in water treatment[49]. - The company has received multiple patents in 2019, including three invention patents and nine utility model patents, enhancing its technological capabilities[56]. - The company invested CNY 76,145,186.60 in R&D in 2019, representing 1.83% of its operating revenue, an increase from 1.54% in 2018[86]. - The company aims to maintain continuous innovation in its main business technology development, supporting various wastewater treatment operations[85]. Environmental Compliance and Social Responsibility - The company is committed to social responsibility and aims to contribute to national ecological and environmental protection efforts[111]. - The company has established "environmental protection education bases" to promote green and low-carbon concepts among the public[166]. - The company has received recognition and praise both domestically and internationally for its efforts in environmental protection and social responsibility[166]. - The company has implemented various pollution control measures, ensuring compliance with national discharge standards for COD, NH3-N, TN, and TP[171]. Future Projections and Strategic Goals - Future guidance suggests a projected revenue growth of 10% for the upcoming fiscal year, driven by increased demand for water treatment solutions[156]. - The company plans to enhance its market presence by investing in new technologies and expanding its service offerings in the environmental protection sector[156]. - The company aims to improve its market position through strategic partnerships and potential acquisitions in the environmental sector[174]. - The company is focused on R&D for advanced wastewater treatment technologies to meet stricter environmental regulations[185].

Financial Performance - Total revenue for Q1 2020 was ¥650,708,019.44, a decrease of 5.54% compared to ¥688,890,115.46 in the same period last year[7] - Net profit attributable to shareholders was ¥47,676,024.79, down 19.80% from ¥59,447,431.21 year-on-year[7] - Basic earnings per share decreased by 36.36% to ¥0.07 from ¥0.11 in the same period last year[7] - The net profit attributable to shareholders was CNY 47.68 million, down 19.8% year-on-year[20] - The net profit for the first quarter was CNY 51,427,261.21, down from CNY 63,394,199.90, representing a decline of about 18.5%[41] - The total profit for the first quarter was CNY 61,738,256.33, compared to CNY 76,797,021.81 in the previous period, reflecting a decrease of about 19.6%[41] - The total comprehensive income for the first quarter was CNY 52,080,994.75, compared to CNY 63,243,929.71 in the previous period, showing a decrease of approximately 17.6%[42] Cash Flow - Net cash flow from operating activities was -¥119,576,759.14, a decline of 176.94% compared to ¥155,421,460.95 in the previous year[7] - Cash and cash equivalents at the end of the period were CNY 1,057,287,681.15, a decrease of 30.29% from the beginning of the period due to increased payments for equipment procurement and project costs[19] - The cash inflow from operating activities was 880,254,479.04 CNY, down from 1,274,380,492.41 CNY in the previous period, representing a decrease of approximately 30.9%[48] - The cash inflow from sales of goods and services was 437,436,197.53 CNY, down from 705,284,572.19 CNY, representing a decline of approximately 38.0%[52] - The cash outflow for purchasing goods and services was 498,198,982.87 CNY, a decrease from 681,968,424.23 CNY, indicating a reduction of about 26.9%[52] - The company experienced a net cash flow decrease of 242,501,234.51 CNY, compared to an increase of 50,458,351.69 CNY in the previous period[53] Assets and Liabilities - Total assets at the end of the reporting period were ¥14,218,084,030.22, a decrease of 1.67% from ¥14,459,883,687.97 at the end of the previous year[7] - Total liabilities amounted to CNY 10,360,760,782.71, compared to CNY 10,715,080,602.58 in the previous period[34] - Current assets totaled CNY 3,520,818,558.17, down from CNY 3,676,389,021.90 at the end of the previous year[36] - Total current assets decreased slightly to CNY 4,438,650,605.85 from CNY 4,436,851,705.05, a change of CNY -1,798,900.80[56] - Total non-current assets increased marginally to CNY 10,021,233,082.12 from CNY 10,023,003,253.77, reflecting a change of CNY 1,770,171.65[56] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 25,540[11] - The largest shareholder, Anhui Guozhen Group Co., Ltd., holds 32.02% of the shares[11] - The company did not engage in any repurchase transactions during the reporting period[12] - The company is undergoing a change in control as the controlling shareholder, Guozhen Group, is transferring 100,588,051 shares (15% of the company) to China Energy Conservation and Environmental Protection Group, pending approvals[21][22] Operational Challenges - Operating cash inflow decreased by 30.93% year-on-year, primarily due to reduced sales collections impacted by the COVID-19 pandemic[19] - The company reported a significant increase in credit impairment losses, which rose by 445.99% to CNY 12,499,868.20, due to a decrease in accounts receivable[19] - The company experienced a credit impairment loss of CNY 12,499,868.20, significantly higher than CNY 2,289,380.85 in the previous period[40] - The company has resumed normal operations since early March 2020, following effective pandemic control measures[20] Financial Ratios and Expenses - Financial expenses increased by 53.96% to CNY 85,857,461.68, attributed to a larger financing scale and increased interest expenses[19] - The tax expense for the quarter was CNY 10,310,995.12, down from CNY 13,402,821.91, indicating a reduction of approximately 23.5%[41] - Research and development expenses increased to CNY 13,186,559.92 from CNY 9,529,508.90, marking a rise of approximately 38.5%[40] Other Financial Information - The company reported non-recurring gains and losses totaling ¥1,588,646.80 for the period[8] - The company has no reported violations regarding external guarantees during the reporting period[25] - There are no non-operating fund occupations by controlling shareholders or related parties reported during the period[26] - The company has not yet audited the first quarter report, indicating it is still subject to review[61] - The company is implementing new revenue and lease standards, which may affect future financial reporting[61]

Financial Performance - Operating revenue for the period was CNY 895.04 million, a decrease of 2.05% year-on-year[8] - Net profit attributable to shareholders increased by 9.24% to CNY 97.39 million[8] - Basic earnings per share decreased by 5.18% to CNY 0.1537[8] - Total operating revenue for Q3 2019 was CNY 895,037,709.39, a decrease of 2.5% compared to CNY 913,726,615.99 in the same period last year[45] - Net profit for Q3 2019 reached CNY 105,839,959.67, an increase of 11.0% from CNY 95,362,469.98 in Q3 2018[46] - The net profit for the year-to-date period was ¥269,638,475.28, an increase of 10.54% from ¥243,952,947.81 in the same period last year[54] - The net profit for the current period is ¥85,378,225.82, compared to ¥108,840,895.93 in the previous period, reflecting a decline of approximately 21.5%[58] Assets and Liabilities - Total assets increased by 33.30% to CNY 13.52 billion compared to the end of the previous year[8] - The total amount of cash received from investment activities increased by 149.15% to ¥133,524,167.05, reflecting increased investments in associated companies and other entities[21] - The total liabilities of the company were CNY 9.75 billion, compared to CNY 7.58 billion at the end of 2018, reflecting an increase of about 28.8%[38] - Long-term borrowings rose to CNY 4.90 billion from CNY 2.48 billion, which is an increase of approximately 97.7%[37] - The company's total liabilities amounted to 6,566,443,781.90 CNY, indicating a manageable debt level relative to its asset base[69] Cash Flow - The net cash flow from operating activities was negative CNY 1.80 billion, a decline of 737.61%[8] - The company reported a net cash outflow from operating activities of ¥1,804,627,936.84, compared to a smaller outflow of ¥215,448,660.89 in the previous period[62] - Cash inflow from operating activities totaled ¥3,056,782,500.62, an increase from ¥2,856,063,337.27 in the previous period[62] - The company raised ¥5,041,705,923.62 from financing activities, significantly higher than ¥1,948,477,000.00 in the previous period[63] Shareholder Information - The company reported a total of 23,439 common shareholders at the end of the reporting period[12] - The top shareholder, Anhui Guozhen Group, holds 32.46% of the shares[12] - The company signed a share transfer agreement to transfer 15% of its shares (100,546,210 shares) to two entities, which will result in a new major shareholder structure[22] Investments and Projects - The company successfully acquired 38% equity in Wuhai Guozhen Yijia Water Environment Governance Co., Ltd. for a transaction price of 33.5685 million yuan, increasing its ownership to 95%[24] - The company has ongoing major orders in the energy-saving and environmental protection sector, with a total investment amount exceeding 500 million yuan, indicating strong market demand[26] - The company reported a significant project, the Fuyang Water System Comprehensive Rectification Project, with an order amount of 102.698 million yuan, achieving a project execution progress of 18.12%[26] Financial Management - Financial expenses increased by 49.65% to ¥190,071,509.18, mainly due to higher interest expenses from increased project loans[20] - The company reported a financial expense of ¥190,071,509.18 for the year-to-date period, which is an increase of 49.6% from ¥127,011,992.85[54] - The company incurred financial expenses of ¥84,733,136.50, which is an increase from ¥62,595,844.69 in the previous period, primarily due to higher interest expenses[58] Research and Development - Research and development expenses for Q3 2019 were CNY 15,744,625.30, compared to CNY 12,565,728.14 in Q3 2018, reflecting a growth of 25.0%[45] - The company's R&D expenses for the year-to-date period were ¥38,595,840.12, an increase of 4.08% compared to ¥37,082,105.03 in the previous year[54] Compliance and Governance - The company reported no violations regarding external guarantees during the reporting period[30] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[31] - The third quarter report was not audited, indicating a potential area for further scrutiny[75] - The company has implemented new financial instrument standards starting in 2019, which may affect future financial reporting[75]