Financial Performance - The company's operating revenue for 2018 was CNY 2,724,023,569.51, representing an increase of 85.49% compared to CNY 1,468,545,794.26 in 2017[16]. - The net profit attributable to shareholders for 2018 was CNY 235,263,045.52, a growth of 60.37% from CNY 146,704,232.04 in 2017[16]. - The net profit after deducting non-recurring gains and losses reached CNY 236,252,344.41, marking a 90.47% increase from CNY 124,036,354.87 in 2017[16]. - The basic earnings per share for 2018 was CNY 0.66, up 60.98% from CNY 0.41 in 2017[16]. - The diluted earnings per share for 2018 was CNY 0.67, reflecting a 63.41% increase from CNY 0.41 in 2017[16]. - The total assets at the end of 2018 amounted to CNY 6,525,506,046.43, an increase of 66.41% compared to CNY 3,921,372,127.80 at the end of 2017[16]. - The net assets attributable to shareholders at the end of 2018 were CNY 1,531,273,364.33, which is a 31.92% increase from CNY 1,160,797,686.39 at the end of 2017[16]. - The company's operating income for 2018 was ¥2,723,744,333.46, compared to ¥1,468,527,557.08 in 2017, marking an 85.5% increase[83]. - The company's environmental comprehensive governance revenue for 2018 reached ¥2,551,723,569.40, a significant increase from ¥1,383,740,747.99 in 2017, representing an 84.5% growth[83]. - Water pollution control revenue amounted to ¥1,900,779,466.27 in 2018, up from ¥955,011,079.43 in 2017, indicating a 99.3% increase[83]. - Soil remediation revenue increased to ¥298,673,256.43 in 2018 from ¥209,380,726.02 in 2017, reflecting a 42.6% growth[83]. Research and Development - The company reported a significant increase in R&D expenses, totaling CNY 90,758,782.37, which is a 99.86% increase from the previous year, reflecting enhanced investment in innovation[143]. - The company holds 151 authorized patents, including 29 invention patents and 122 utility model patents, with a patent technology conversion rate exceeding 70%[104]. - The company has established a research and development team with 860 technical personnel, including over 30 PhDs and 249 master's degree holders[108]. - The company has been recognized as a "National Enterprise Technology Center" during the reporting period, enhancing its status in the technology sector[106]. - The company has established partnerships with various domestic and international research institutions, fostering innovation and technology exchange[106]. Technology and Innovation - The company reported a total of 11 patents for the Upflow Multi-stage Anaerobic Reactor (UMAR) technology, with over 100 units already in industrial application by the end of 2018[30]. - The Upflow Multi-phase Wastewater Treatment Oxidation Tower (UHOFe) technology has 10 patents, with similar industrial application success as UMAR[33]. - The company holds 16 patents for the Methanol-based Chlorine Dioxide Preparation System, covering the entire preparation process and safety design[36]. - The company has developed the ACM biological reactor, which has been recommended as a key technology for rural sewage treatment in Guangxi, with over 100 units deployed across various provinces[42][43]. - The company has developed a comprehensive soil and groundwater remediation system, holding 5 invention patents and 13 utility model patents in soil remediation technologies as of December 31, 2018[47]. - The company has patented a solar-powered purification vessel aimed at addressing black and odorous water bodies, contributing to environmental sustainability[121]. Market and Industry Trends - The market for water pollution control is projected to require an investment of approximately CNY 4-5 trillion by 2020, with a growth rate of 15%-20% for water environment protection products and services expected over the next five years[88]. - The rural environmental comprehensive governance market is anticipated to reach a value of CNY 84 billion by 2020, with a potential to exceed CNY 200 billion by 2035[91]. - The soil remediation market is estimated to have a theoretical total market capacity of approximately CNY 10.13 trillion, with significant market space expected to be released during the "13th Five-Year Plan" period[92]. - The hazardous waste industry is projected to reach a scale of 100 billion by 2020, driven by a compound annual growth rate of 12% over the past decade[96]. - The overall sanitation market in China is expected to reach 224.37 billion by the end of 2019, reflecting a 39.1% increase from 161.29 billion in 2014[94]. Corporate Governance and Management - The company has established a comprehensive governance structure involving the board of directors and supervisory board to ensure accountability[3]. - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, indicating potential risks in management[3]. - The company has a stable management team with a strong focus on the environmental industry, ensuring competitive advantages in technology research and project execution[107]. - The company has not faced any significant impacts on its core competitiveness due to equipment upgrades, key personnel turnover, or loss of important intangible assets during the reporting period[113]. Environmental Initiatives - The company is focused on environmental comprehensive governance, including water pollution treatment and soil remediation, as its core business areas[29]. - The company has introduced a new "water and soil co-governance" model for industrial site pollution, integrating multiple remediation technologies[49]. - The company has actively participated in international environmental protection forums and initiatives, enhancing its brand influence and market presence[112]. - The company has made significant breakthroughs in the environmental steward business, contributing to local regions receiving national ecological civilization construction demonstration county titles[164]. Contracts and Projects - The company signed new contracts worth 5.498 billion yuan in the reporting period, with 3.131 billion yuan from EPC and EP contracts, and 3.769 billion yuan specifically for water pollution control contracts[149]. - As of the report date, the company has a total of 14.237 billion yuan in hand contracts, including 11.414 billion yuan for water pollution control and 1.657 billion yuan for soil remediation[149]. - The company has successfully implemented the largest chemical pollution site remediation project in Southwest China, with a total contract amount of 266 million yuan and a completion rate of 92.86%[156]. - The company has expanded its soil remediation contracts to 670 million yuan in 2018, with projects covering multiple provinces in China[155]. Financial Management - The company enjoyed a 15% corporate income tax rate reduction under the "High-tech Enterprise Certificate" and a 75% deduction for R&D expenses during the reporting period[135]. - The company's cash and cash equivalents increased by 59.97%, reaching ¥732,173,032.08, primarily due to the issuance of convertible bonds[140]. - Accounts receivable rose by 77.87% to ¥1,712,822,498.63, attributed to the expansion of the company's operational scale and increased project settlement[140]. - The company actively engages with financial institutions to utilize green credit policies, reducing financing costs and ensuring project funding needs[148].

Financial Performance - Revenue for the reporting period reached CNY 743,328,029.64, representing a growth of 101.06% year-on-year[8] - Net profit attributable to shareholders increased by 131.53% to CNY 68,907,377.36 for the reporting period[8] - The net profit after deducting non-recurring gains and losses rose by 167.61% to CNY 74,102,744.35[8] - Basic earnings per share increased by 131.20% to CNY 0.1949[8] - The company's operating revenue for the first nine months of 2018 reached CNY 1,891,765,545.87, a significant increase of 105.12% compared to CNY 922,271,405.32 in the same period of 2017[26] - The company's operating revenue for the current period reached ¥1,571,407,763.85, a significant increase of 137.5% compared to ¥662,225,163.33 in the previous period[76] - Net profit for the current period was ¥172,654,355.33, compared to ¥80,952,139.93 in the previous period, indicating an increase of about 113%[72] - The company reported a total profit of ¥186,989,642.80, up from ¥85,105,028.92 in the previous period, reflecting a growth of 119.5%[78] Assets and Liabilities - Total assets increased by 49.10% to CNY 5,846,854,791.93 compared to the end of the previous year[8] - The company's total liabilities increased by 52.71% to CNY 748,463,243.69, mainly due to increased bank loans[23] - Total liabilities increased to CNY 4,242,662,970.75 from CNY 2,627,210,171.87, highlighting a rise in financial obligations[61] - Long-term borrowings increased significantly to CNY 1,240,810,000.00 from CNY 560,510,000.00, indicating a strategy to leverage for growth[61] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,412[13] - The largest shareholder, Wang Shuangfei, holds 21.28% of the shares, totaling 75,705,752 shares[13] - The company has a total of 148,934,553 shares under lock-up agreements, with 137,892,928 shares released during the reporting period[19] - The company has not engaged in any repurchase agreements among the top 10 shareholders during the reporting period[15] - The company has established a consistent policy regarding the lock-up of shares for executives and major shareholders[17] Cash Flow - The net cash flow from operating activities for the first nine months of 2018 was -CNY 250,250,585.70, a decrease of 39.72% from -CNY 179,106,264.51 in the previous year, primarily due to increased payments to suppliers and related operating expenses[27] - The net cash flow from financing activities for the first nine months of 2018 was CNY 1,203,835,311.21, an increase of 64.58% compared to CNY 731,469,730.00 in the previous year, driven by the issuance of convertible bonds and increased bank loans[27] - The company's cash and cash equivalents increased to CNY 755,681,700.00, influenced by the proceeds from the issuance of convertible bonds[23] - The company's cash flow from operating activities was impacted by increased operational costs, leading to a net outflow[85] Research and Development - Research and development expenses surged by 181.33% to CNY 61,928,398.71, reflecting the company's intensified efforts in new product development[26] - The company reported a total of ¥61,928,398.71 in research and development expenses, marking an increase of about 181%[72] - The company has allocated CNY 20,095,502.21 for R&D expenses, up from CNY 7,249,178.44, emphasizing commitment to innovation[66] Business Expansion and Contracts - The company secured a total of 3.279 billion yuan in new contracts from January to September 2018, with 2.277 billion yuan specifically for water pollution treatment contracts[51] - As of the report date, the total backlog of contracts reached 13.177 billion yuan, including 10.911 billion yuan for water pollution treatment contracts[52] - The company has maintained a strong position in traditional sectors such as industrial wastewater treatment and municipal sewage treatment, while also making breakthroughs in urban sanitation and oil sludge disposal[51] Financial Management - The company reported government subsidies amounting to CNY 10,238,116.00 during the reporting period[11] - The company plans to use up to CNY 260 million of idle raised funds to temporarily supplement working capital, with a usage period not exceeding 12 months[34] - The company has borrowed a total of CNY 1.56 billion from its actual controller, which has been fully utilized for daily operations[35] Other Information - The company did not undergo an audit for the third quarter report[88] - The company has not executed any profit distribution in the first three quarters of 2018, adhering to its profit distribution policy[54]

Financial Performance - Total revenue for the reporting period reached ¥1,148,437,516.23, representing a 107.84% increase compared to ¥552,558,001.99 in the same period last year[26]. - Net profit attributable to shareholders was ¥106,162,111.99, a 100.40% increase from ¥52,976,426.57 year-over-year[26]. - Net profit after deducting non-recurring gains and losses was ¥103,142,690.49, reflecting a 115.90% increase from ¥47,774,229.37 in the previous year[26]. - The company's total assets increased by 30.01% to ¥5,098,224,393.23 from ¥3,921,372,127.80 at the end of the previous year[26]. - The weighted average return on net assets rose to 8.79%, up from 5.17% in the previous year, an increase of 3.62%[26]. - The company's main business revenue for the first half of 2018 reached ¥1,148,143,380.34, a significant increase from ¥552,546,335.32 in the same period of 2017, representing a growth of approximately 107%[85]. - Operating revenue of 1,148.44 million yuan, a year-on-year increase of 107.84%[132]. - Operating profit reached 120.25 million yuan, up 102.93% year-on-year[132]. - Net profit attributable to ordinary shareholders was 106.16 million yuan, reflecting a growth of 100.40% compared to the previous year[132]. Research and Development - The company has invested 42.45% of its management expenses in R&D in the first half of 2018, reflecting a continuous increase in technological innovation efforts[11]. - The company has developed key technologies including the Upflow Multi-Stage Anaerobic Reactor (UMAR) with 12 patents, and the Upflow Multi-Phase Wastewater Treatment Oxidation Tower (UHOFe) with 9 patents[39][42]. - The company is actively involved in the development of new technologies, including the key technology for pollution control and environmental monitoring in the Beibu Gulf region[112]. - The company is engaged in the research and demonstration of key technologies for the remediation of contaminated farmland in South China[110]. - The company has participated in 16 national and provincial-level research projects, with several projects currently under research and development[110]. Environmental Services and Projects - The company operates in the environmental protection technology sector, focusing on wastewater treatment and pollution control solutions[19]. - The company is involved in various operational models including BOT (Build Operation Transfer) and PPP (Public Private Partnership) for project financing and management[18]. - The company has expanded its market presence in various provinces, including Guangxi, Hunan, Hubei, Jiangsu, and Yunnan, with hundreds of ACM biological reactors deployed in municipal sewage treatment projects[52]. - The company has successfully implemented projects in various provinces, including Guangxi, Hunan, and Jiangsu, with five projects selected as national PPP demonstration projects[108]. - The company has entered the solid waste disposal sector with a project in Cangwu County, marking a significant breakthrough in the sanitation field[137]. Patents and Innovations - The company has obtained 140 patents, including 22 invention patents, enhancing its core technology in environmental services[108]. - The company has developed a new integrated biological deodorization treatment device, contributing to its innovation in waste management technologies[117]. - The company has a patent for a continuous plastic waste pyrolysis oil refining device, indicating advancements in recycling technology[117]. - New patents granted during the reporting period include a high-efficiency wet desulfurization device and a multi-point combustion type thermal desorption device for soil remediation[116]. Financial Management and Investments - The company plans to expand its financing channels through equity and bond financing to meet its working capital needs and reduce potential debt risks[7]. - The net cash flow from operating activities was negative at -¥191,937,252.81, worsening by 54.13% compared to -¥124,526,216.49 in the previous year[26]. - The company received the AAA credit rating from the China Environmental Protection Industry Association, highlighting its strong financial standing[152]. - The total amount of funds raised was RMB 536,181,873.69 after deducting issuance costs[182]. - The company has a cumulative investment of 10.585 billion yuan in PPP projects, with 5.743 billion yuan as the controlling social capital[133]. Market Trends and Industry Outlook - The environmental protection industry in China is expected to require an investment of approximately 4-5 trillion yuan by 2020 to meet the goals outlined in the "Water Ten Measures," with nearly 2 trillion yuan needed in the next three years[89]. - The growth rate for water environment protection products and equipment is projected to be between 15%-20%, while the water environment service industry is expected to grow by approximately 30%-40% over the next five years[89]. - The rural sewage treatment industry is anticipated to reach a market value of 84 billion yuan by 2020, with projections exceeding 200 billion yuan by 2035[92]. - The total market capacity for soil remediation in China is estimated to be around 10.13 trillion yuan, with potential market space of 151.7 billion yuan for industrial site remediation and 442 billion yuan for agricultural land remediation during the 13th Five-Year Plan[95]. Compliance and Risk Management - The company emphasizes the importance of strict operational management to mitigate environmental compliance risks, especially as projects enter the operational phase[13]. - The company has maintained consistent contact information and disclosure practices throughout the reporting period[21][22]. - The company has identified risk factors and corresponding countermeasures, detailed in the report[198]. - The company implemented a high-standard risk control system throughout all project phases, enhancing risk identification and assessment[132].

Financing and Investment - The company plans to issue convertible bonds with a total scale not exceeding RMB 430 million to fund the Nanning urban river black and odorous water treatment PPP project[5]. - The company has received approval from the China Securities Regulatory Commission for the convertible bond issuance, but is awaiting formal documentation[5]. - The company plans to optimize its funding sources through various channels, including debt and equity financing, to meet its liquidity needs and reduce potential repayment risks[12]. - The company’s overseas investment in RemedX Remediation Service Inc. amounts to CNY 87.27 million, representing 6.74% of the company's net assets[116]. - The company has a total of 11 major contracts signed, with a total investment exceeding 500 million[198]. Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB, representing a year-over-year growth of 15%[22]. - The company's operating revenue for 2017 was CNY 1,468,545,794.26, representing a 77.15% increase compared to CNY 828,969,071.31 in 2016[30]. - The net profit attributable to shareholders for 2017 was CNY 146,704,232.04, a significant increase of 134.06% from CNY 62,678,930.72 in 2016[30]. - The total revenue for the company in 2017 was ¥146,852.76 million, compared to ¥82,794.34 million in 2016, reflecting a growth of about 77.5%[42]. - The company’s cash flow from operating activities showed a net outflow of CNY 150,234,947.90, worsening by 168.76% compared to the previous year[160]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by the end of 2024[23]. - The company has established 18 branches across various provinces, achieving a zero breakthrough in its environmental steward business in Guangxi[123]. - The company is actively expanding its market presence through strategic partnerships and project collaborations in the environmental sector[200]. - The company’s market expansion strategy focuses on high-quality demonstration projects to enhance its brand and market presence[185]. - The company has a strong focus on compliance with national regulations regarding engineering consulting qualifications[137]. Research and Development - The company aims to strengthen its R&D capabilities and optimize resource integration to maintain its competitive edge in the environmental services sector[10]. - R&D expenses as a percentage of management costs increased from 32.76% in 2015 to 33.30% in 2017, reflecting the company's commitment to innovation in a technology-driven industry[16]. - The company is investing 50 million RMB in R&D for innovative environmental technologies over the next two years[23]. - The company has achieved significant breakthroughs in technological innovation, with a total of 114 patents, including 20 invention patents and 94 utility model patents, and a patent technology conversion rate exceeding 70%[118]. - The company has established various technical research platforms, including an academician workstation and a postdoctoral workstation, attracting over 20 high-end technical experts[127]. Operational Challenges and Risks - The company faces risks related to the repayment of principal and interest on the convertible bonds, which may impact cash flow if business performance does not meet expectations[5]. - The company acknowledges intensified market competition in the environmental protection industry, driven by increased investment and interest from state-owned enterprises[10]. - The company is facing regulatory tightening in the PPP model, which may impact project feasibility and expected economic benefits, necessitating enhanced risk management practices[15]. - There is a risk of key personnel turnover due to competition from state-owned enterprises, which could jeopardize the company's core technologies and operational capabilities[18]. - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, which do not constitute binding commitments[3]. Environmental Services and Projects - The company's main business includes comprehensive environmental governance services, professional technical services, and operational management services, with a focus on water pollution control, soil remediation, and solid waste disposal[41]. - The company’s technologies are designed to effectively reduce pollutants in soil and water, ensuring compliance with national environmental standards[64]. - The company has developed a comprehensive soil remediation service chain, including technologies for solidification/stabilization, chemical oxidation, and microbial remediation, with 3 invention patents and 11 utility model patents obtained[63]. - The company has strategically acquired a Canadian soil remediation service company to enhance its capabilities in oilfield pollution disposal and groundwater remediation[63]. - The company’s wastewater treatment systems achieve compliance with the Class 1B discharge standards as per GB 18918—2002, with potential to reach Class 1A standards with simple follow-up treatment[60]. Employee Engagement and Management - The company has implemented a stock incentive plan and a training program to enhance employee engagement and innovation capabilities[188]. - The company has a high-quality management team with overseas study backgrounds, ensuring competitive advantages in technology research and engineering implementation[125]. - The company has established comprehensive performance assessments and equity incentives for senior management to enhance management stability and innovation[127]. - The company has a total of 815 technical personnel, including over 30 PhDs and 176 master's degree holders, enhancing its research and development capabilities[127]. - The company has actively expanded its PPP business model, resulting in explosive growth in the number of PPP orders during the reporting period[122].

Financial Performance - Total operating revenue for Q1 2018 reached ¥519,526,443.46, representing a 140.82% increase compared to ¥215,736,646.57 in the same period last year[8] - Net profit attributable to shareholders was ¥60,582,365.94, a significant increase of 270.82% from ¥16,337,250.85 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥62,085,618.10, up 319.80% from ¥14,789,196.85 in the previous year[8] - Basic earnings per share rose to ¥0.17, reflecting a 240.00% increase compared to ¥0.05 in the same period last year[8] - Operating profit for Q1 2018 was ¥71,237,237.59, reflecting a 319.70% growth from the previous year's ¥16,952,000.00[36] - The company's cash flow from financing activities increased by 55.75% to ¥374,663,901.73, driven by increased borrowings[35] - The company reported a significant increase in environmental comprehensive governance revenue, totaling ¥500,795,537.02, a 140.66% increase year-over-year[38] - The company’s financial expenses surged by 249.61% to ¥17,608,976.65, mainly due to increased interest expenses from bank loans[33] - The company’s short-term borrowings increased by 45.87% to ¥714,924,400.00, reflecting higher bank loans[30] - The total operating costs for the current period were ¥448,508,606.39, compared to ¥198,520,928.13 in the previous period, reflecting an increase of about 126%[87] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,389,109,572.09, an increase of 11.93% from ¥3,921,372,127.80 at the end of the previous year[8] - The debt scale has been rising, with liabilities reaching ¥303,341.63 million and an asset-liability ratio of 69.11% as of March 2018[13] - Total liabilities increased to CNY 3,033,416,345.50 from CNY 2,627,210,171.87, representing a growth of about 15.43%[81] - Non-current assets totaled CNY 2,568,716,099.87, up from CNY 2,205,997,111.97, indicating an increase of approximately 16.43%[80] - The company's equity increased to CNY 1,355,693,226.59 from CNY 1,294,161,955.93, reflecting a growth of about 4.73%[81] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 22,565[20] - Wang Shuangfei holds 21.28% of shares, amounting to 75,705,752 shares, with 37,109,367 shares pledged[20] - The top ten shareholders collectively hold significant stakes, with the largest shareholder having over 21%[20] - The company reported a total of 148,934,553 shares with 137,842,276 shares under lock-up at the beginning of the period, and 92,184,597 shares remaining under lock-up at the end of the period[25] - The company has a structured lock-up policy for executives, ensuring compliance with regulations regarding shareholding[25] - The overall shareholder structure remains stable with no new major shareholders entering during the reporting period[21] Project Management and Development - The company plans to issue convertible bonds totaling up to ¥430 million to fund a PPP project for urban river pollution control[11] - The company aims to mitigate seasonal revenue fluctuations by expanding its service offerings in environmental services and after-sales value-added services[15] - The company plans to strengthen PPP project management by improving risk identification, assessment, and response strategies[18] - The company is committed to conducting thorough feasibility studies for PPP projects to ensure expected outcomes are met[18] - The company has developed a third-generation low-temperature pyrolysis system for rural household waste, which is currently in the debugging and stable operation phase[43] - The company has successfully developed and promoted the ACM reactor and MCO point source sewage treatment system for rural wastewater treatment[48] Regulatory and Compliance - Since 2017, the PPP model has faced stricter regulatory policies, which may impact the feasibility and economic benefits of projects[17] - The company is focused on maintaining compliance with evolving PPP regulations to foster sustainable market competition[17] - The company has established an effective internal control system to enhance decision-making and risk prevention[16] - The company has made changes to its accounting estimates regarding the provision for product quality assurance to better reflect its financial status[62] Cash Flow and Investments - Cash flow from operating activities was ¥264,623,028.17, significantly higher than ¥88,208,150.42 in the previous period, indicating an increase of approximately 199%[92] - Cash inflow from financing activities amounted to CNY 579.77 million, compared to CNY 384.10 million in the prior period, showing a strong increase in financing[96] - The company has invested a total of RMB 48,683.90 million (including interest) from the raised funds, achieving a utilization rate of 90.6%[69] - Cash outflow from investing activities reached CNY 374.78 million, up from CNY 160.74 million in the previous period, reflecting increased investment expenditures[94] Innovation and Technology - The company has a total of 119 patents, including 21 invention patents and 98 utility model patents, as well as 7 software copyrights[43] - The company has developed a high-efficiency biological purification system for VOCs waste gas, with a small-scale system built and performance studies underway[46] - The company has designed a deodorization tower with an online cleaning and anti-blocking device to efficiently remove odor gases from wastewater treatment plants[47]

Financial Performance - Total revenue for the period reached CNY 369,713,403.33, representing a 27.93% increase year-on-year[9] - Net profit attributable to shareholders rose by 56.65% to CNY 29,761,669.90 for the quarter[9] - The net profit excluding non-recurring gains and losses increased by 70.34% to CNY 27,690,150.91[9] - Basic earnings per share increased by 41.21% to CNY 0.0843[9] - Operating revenue for the first nine months of 2017 reached ¥922.27 million, an increase of ¥351.60 million or 61.61% compared to the same period in 2016[22] - Net profit for the current period was ¥28,731,393.56, representing a 53% increase from ¥18,804,387.47 in the previous period[55] - The total comprehensive income for the current period was ¥29,078,939.08, compared to ¥18,804,387.47 in the previous period, reflecting a growth of 54%[55] - Net profit for the current period was ¥80,952,139.93, representing a 106.2% increase from ¥39,142,695.66 in the previous period[59] - The company reported a total profit of ¥95,646,270.45, which is 109.0% higher than ¥45,666,291.44 in the last period[59] Assets and Liabilities - Total assets increased by 54.98% to CNY 3,560,662,482.33 compared to the end of the previous year[9] - Accounts receivable increased by 65.93% to ¥990,196,754.77 due to expanded business operations and increased project settlements[18] - Inventory rose by 214.29% to ¥165,387,103.89, driven by an increase in engineering projects[18] - Fixed assets grew by 104.42% to ¥198,614,169.03 as a result of completed construction projects being transferred to fixed assets[18] - Total liabilities increased significantly, with long-term borrowings rising by 121.96% to ¥587,850,000.00 due to additional bank loans[18] - Current liabilities rose to CNY 1,595,449,912.99 from CNY 980,964,049.71, an increase of about 62.5%[49] - Total liabilities increased to CNY 2,270,885,620.30 from CNY 1,278,508,547.85, representing a growth of approximately 77.7%[49] - Shareholders' equity increased to CNY 1,289,776,862.03 from CNY 1,019,057,543.06, reflecting a growth of about 26.5%[49] Cash Flow - The company reported a cash flow from operating activities of -CNY 179,106,264.51, a decline of 52.51% year-on-year[9] - Net cash flow from operating activities was -¥179,106,264.51, compared to -¥117,440,460.77 in the previous period, indicating a worsening performance[66] - Cash inflow from financing activities was ¥1,042,683,700.00, slightly down from ¥1,097,608,894.00, a decrease of 5.0%[66] - Investment activities generated a net cash flow of -¥512.09 million, an increase in outflow of 82.92% compared to -¥279.96 million in 2016[24] Shareholder Information - The total number of shareholders at the end of the reporting period was 24,075[14] - The largest shareholder, Wang Shuangfei, holds 21.26% of the shares, totaling 75,705,752 shares[14] - The company has established a cash dividend policy to ensure stable returns to investors, with a plan for shareholder returns from 2017 to 2019[42] Strategic Initiatives - The company plans to issue convertible bonds totaling up to ¥430 million to support the PPP project for urban river pollution control[29] - The company is actively pursuing market expansion through strategic investments and partnerships in environmental projects[37] - The company has established several new subsidiaries, including a 95% owned subsidiary with a registered capital of ¥24 million[30] Expenses - Operating costs rose to ¥657.64 million, reflecting an increase of ¥241.12 million or 57.89% due to higher revenue[22] - Financial expenses increased by 91.56% to ¥24.64 million, primarily due to increased interest expenses from bank loans[22] - Tax expenses surged by 125.25% to ¥14.69 million, driven by an increase in total profit[22] - The company reported a significant increase in management expenses, up 46.15% to ¥80.36 million, attributed to rising R&D costs and personnel expenses[22] Project Investments - The company completed investments of 32,476.10 million RMB in the PPP project for Southeast Water Supply in Sihong County, which is currently in trial operation[37] - The total contract amount for the Wulongchong Reservoir centralized water supply project is 191.1 million RMB, with 14,287.69 million RMB invested by the company as of the report date[37] - The company has a significant order backlog, with 115,114.31 million RMB in unrecognized revenue from confirmed orders[36]

Financial Performance - Total revenue for the reporting period reached ¥552,558,001.99, representing a 96.17% increase compared to the same period last year[28]. - Net profit attributable to shareholders was ¥52,976,426.57, a significant increase of 156.05% year-over-year[28]. - The net profit after deducting non-recurring gains and losses was ¥47,774,229.37, reflecting a 200.40% increase compared to the previous year[28]. - The company reported a basic earnings per share of ¥0.1504, up 131.38% from ¥0.0650 in the same period last year[28]. - Operating revenue for the first half of 2017 reached ¥552,558,001.99, representing a significant increase of 96.17% compared to ¥281,674,346.46 in the same period of 2016[118]. - Operating profit for the same period was CNY 59.26 million, an increase of 232.92% compared to the previous year[91]. - The company achieved a revenue of ¥552,558,001.99, representing a 96.17% increase compared to ¥281,674,346.46 in the same period last year, primarily due to an increase in environmental project settlements[111]. Assets and Liabilities - The company's liabilities increased from RMB 391.20 million in 2014 to RMB 1.88 billion in June 2017, with a debt-to-asset ratio of 63.43%[9]. - Total assets increased by 29.03% to ¥2,964,483,972.29 compared to the end of the previous year[28]. - Fixed assets increased by 47.58% compared to the previous fiscal year, primarily due to the conversion of construction in progress to fixed assets[77]. - Intangible assets increased by 133.60% year-on-year, mainly due to the acquisition of concession rights by subsidiaries[77]. - Accounts receivable rose by 44.66% compared to the previous year, reflecting the expansion of the company's operational scale and increased project settlement volume[77]. - Cash and cash equivalents increased to ¥472,796,541.12, representing 15.95% of total assets, up from 11.66% last year, a 4.29% increase due to increased bank borrowings[128]. Research and Development - R&D expenses as a percentage of management expenses were 28.17%, 32.76%, 32.80%, and 30.06% from 2014 to the first half of 2017, highlighting a strong focus on innovation[13]. - The company has obtained 12 patents related to the UMAR technology, with over a hundred units already in industrial application[39]. - The UHOFe technology has 9 patents, and similar to UMAR, it has also seen over a hundred units deployed in the market[42]. - The company has obtained 102 authorized patents, including 19 invention patents, and is focusing on upgrading and promoting low-temperature pyrolysis technology for rural waste management[105]. Business Expansion and Strategy - The company has 26 subsidiaries as of the report date, indicating rapid expansion and increased management complexity[10]. - The company expanded its business scope to include water pollution control, solid waste management, and urban waste management services, enhancing its market competitiveness[27]. - The company is actively seeking to mitigate risks associated with its PPP business model through careful project evaluation and management[12]. - The company is focusing on expanding its market in rural sewage treatment and solid waste disposal, leveraging its proprietary technologies[92]. - The company secured a notable PPP project in Nanning for the treatment of 11 rivers with a total value of 918 million CNY, showcasing its strong capability in acquiring large orders[80]. Market Outlook - The environmental protection industry is expected to grow at an annual rate of 20-30% during the "13th Five-Year Plan" period, with total investment in environmental pollution control reaching approximately 8-10 trillion yuan[68]. - The water environment protection products and equipment market is projected to grow at a rate of 15%-20% over the next five years, while the water environment service industry is expected to grow by about 30%-40%[70]. - The soil remediation market has a potential market size of nearly 10 trillion yuan, with an effective market size exceeding 200 billion yuan, driven by the implementation of the "Soil Ten Measures" policy[72]. Corporate Governance and Compliance - The company has not declared any cash dividends or stock bonuses for the first half of 2017[5]. - The company has not faced any significant impacts on its core competitiveness due to equipment upgrades, key personnel turnover, or loss of important intangible assets during the reporting period[81]. - The company has not engaged in any major asset or equity sales during the reporting period[150][151]. - There were no significant litigation or arbitration matters during the reporting period[164]. Social Responsibility - The company has invested a total of RMB 28,889,000 in poverty alleviation efforts during the reporting period[188]. - The company provided RMB 200,000 in scholarships to students at Guangxi University and donated RMB 40,000 to various charitable projects[191]. - The company is committed to improving ecological environments while contributing to local employment and poverty alleviation through its environmental governance projects[103].

Financial Performance - Total operating revenue for Q1 2017 reached CNY 215,736,646.57, an increase of 111.21% compared to the same period last year[9]. - Net profit attributable to shareholders was CNY 16,337,250.85, representing a growth of 276.98% year-on-year[9]. - Net profit after deducting non-recurring gains and losses was CNY 14,789,196.85, up 502.69% from the previous year[9]. - Basic earnings per share increased to CNY 0.12, a rise of 300.00% compared to the same period last year[9]. - Operating profit reached CNY 16.97 million, up 523.42% compared to the same period last year[49]. - The total comprehensive income for the first quarter of 2017 was CNY 14,544,818.94, compared to CNY 1,203,295.17 in the previous period[91]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,602,429,833.09, reflecting a 13.27% increase from the end of the previous year[9]. - The company's debt scale increased from CNY 39,120.04 million at the end of 2014 to CNY 155,050.27 million by March 2017, indicating a rising trend in liabilities[15]. - The asset-liability ratio was 65.67% in 2014, 64.58% in 2015, 55.65% in 2016, and 59.58% by March 2017, reflecting a generally high level of financial leverage[15]. - The company's total liabilities rose to CNY 1,550,502,745.25 from CNY 1,278,508,547.85, an increase of approximately 21.23%[80]. - Long-term borrowings increased significantly to CNY 653,140,600.00 from CNY 264,850,000.00, representing a growth of about 146.00%[80]. Cash Flow - The company reported a significant decline in net cash flow from operating activities, amounting to CNY -166,540,173.40, a decrease of 888.39% year-on-year[9]. - Cash inflows from operating activities totaled CNY 98,131,959.94, down from CNY 174,520,711.06 in the previous period, indicating a decrease of approximately 43.7%[94]. - The net cash flow from operating activities was CNY -166,540,173.40, compared to CNY -16,849,558.46 in the previous period, reflecting a significant decline[94]. - The company reported a net increase in cash and cash equivalents of CNY -86,747,721.70, reflecting a 21.41% decrease compared to the previous year[34]. Shareholder Information - The top shareholder, Wang Shuangfei, holds 21.26% of shares, amounting to 30,266,100 shares, with 14,000,000 shares pledged[20]. - The second and third largest shareholders, Xu Kaishao and Song Hainong, each hold 3.48% of shares, totaling 4,950,000 shares, also pledged[20]. Strategic Initiatives - The company plans to issue corporate bonds not exceeding CNY 400 million to enhance financial strength and support long-term development[13]. - The company plans to explore new profit growth points in environmental assessment, third-party governance, monitoring, and after-sales services to mitigate seasonal revenue risks[18]. - The company aims to reduce income volatility by increasing the diversity of its client base and project types in future market expansions[17]. Project Developments - The company secured new orders worth CNY 33,790.62 million during the reporting period, with a total of 127 orders[39]. - The company completed project investments of CNY 32,915.94 million for the PPP project in Suqian, Jiangsu Province[41]. - The company has secured several large projects, including a heavy metal pollution control project with a total investment of approximately RMB 90 million and a PPP project in Huayuan County with a bid amount of approximately RMB 236 million[43]. Research and Development - The company's R&D investment increased by 49.93% to CNY 7,334,835.42, driven by enhanced development efforts for new products[36]. - The company is advancing the research of energy-saving and environmentally friendly sodium chlorate preparation technology, which significantly reduces energy consumption and is environmentally friendly[45]. - The company has developed a high-efficiency biological deodorization system for sewage treatment plants, which is currently in the preliminary design stage[44].

Financial Performance - The company's operating revenue for 2016 was CNY 828,969,071.31, representing a 64.26% increase compared to CNY 504,673,304.37 in 2015[27]. - The net profit attributable to shareholders for 2016 was CNY 62,678,930.72, up 45.79% from CNY 42,991,961.20 in 2015[27]. - The basic earnings per share for 2016 was CNY 0.4896, an increase of 38.27% from CNY 0.3541 in 2015[27]. - The total assets at the end of 2016 reached CNY 2,297,566,090.91, a 120.49% increase from CNY 1,042,039,375.55 in 2015[27]. - The net assets attributable to shareholders increased by 170.07% to CNY 997,128,484.88 in 2016 from CNY 369,207,173.12 in 2015[27]. - The company reported a net cash flow from operating activities of CNY -55,899,021.85, an improvement of 25.36% compared to CNY -74,889,171.28 in 2015[27]. - The weighted average return on equity for 2016 was 11.84%, down from 13.11% in 2015[27]. - The company's total share capital as of the last trading day before disclosure was 142,351,370 shares[27]. Revenue Breakdown - In 2016, the total revenue from environmental comprehensive governance reached CNY 820.31 million, a significant increase of 65.0% compared to CNY 496.99 million in 2015[39]. - Water pollution control revenue was CNY 391.59 million, up 71.2% from CNY 228.56 million in 2015[39]. - The revenue from water supply surged to CNY 212.11 million, compared to CNY 27.95 million in 2015, marking a growth of 659.5%[39]. - The revenue from soil remediation increased significantly by 2865.09%, reaching CNY 101.39 million, indicating strong growth in this segment[124]. - The company's revenue from environmental comprehensive governance was ¥820,313,602.90, accounting for 98.96% of total revenue, with a year-on-year growth of 65.06%[113]. Investment and Capital Management - The company plans to distribute a cash dividend of 0.60 CNY per 10 shares and to increase capital stock by 15 shares for every 10 shares held, pending shareholder approval[3]. - The company completed a non-public offering of shares with a financing scale of 550 million RMB, aimed at funding various PPP projects and supplementing working capital[58]. - The company has significantly enhanced its brand recognition and market share through effective management and a strong technological foundation since its listing[65]. - The company has established multiple project companies across various locations to enhance its domestic business layout and market share[63]. - The company has reported a significant increase in project investments, reflecting its commitment to expanding its operational capacity and market presence[120]. Research and Development - The company invested 28.17%, 32.76%, and 32.80% of its management expenses in R&D for the years 2014, 2015, and 2016 respectively, indicating a strong commitment to technological innovation[13]. - Research and development expenses increased by 74.54% to ¥27,935,183.72, reflecting the company's commitment to new product development[84]. - The company has established various technical research and development platforms, attracting over 20 high-end technical experts, including two experts enjoying special government allowances[68]. - The company has developed new technologies for wastewater treatment and solid waste management, contributing to its innovation strategy[74]. Market Expansion and Strategy - The company aims to enhance its research and development capabilities and optimize resource integration to mitigate the impact of intensified market competition[7]. - The company is actively exploring new profit growth points in project operations, environmental assessments, and value-added services to reduce seasonal revenue fluctuations[10]. - The company has a focus on expanding its market presence in the environmental protection sector, particularly in industries such as pulp and paper, pharmaceuticals, and municipal services[40]. - The company plans to actively expand its market in water pollution prevention PPP projects, focusing on comprehensive environmental remediation of drinking water sources and urban black-odor water bodies[178]. - The company intends to broaden its municipal project portfolio and environmental service industry, including water supply and drainage integration, municipal wastewater treatment, and ecological restoration[179]. Risks and Challenges - The company faces risks related to the implementation of PPP (Public-Private Partnership) projects, which may be affected by external policy changes and economic conditions[11]. - The company faces risks related to the potential loss of key personnel in a competitive market, which could jeopardize core technologies and intellectual property[16]. - The company has implemented risk prevention measures and is enhancing communication with stakeholders to ensure the smooth completion of the acquisition[6]. Acquisitions and Partnerships - The company agreed to acquire 100% of RemedX Remediation Service Inc. for 13 million CAD, with the completion of the transaction extended to March 31, 2017[5]. - The company has implemented the acquisition of RemedX Remediation Service Inc. to enhance its capabilities in groundwater remediation and petroleum-contaminated soil site restoration[62]. - The company has successfully acquired 100% equity of Canadian RX Company, marking its first step into the international soil remediation market[96]. Corporate Governance and Management - The company has established effective management systems for its subsidiaries to ensure efficient information flow and collaboration, which is crucial for maintaining profitability amid growth[15]. - The company has a strong management team with a focus on technological innovation and market competitiveness, ensuring its leadership in the environmental protection industry[67]. - The company has established a comprehensive environmental service model integrating investment, design, engineering, products, consulting, and operations[62]. Future Outlook - The company anticipates a growth rate of 15%-20% in water environment protection products and equipment over the next five years, with water environment service industry growth expected at 30%-40%[52]. - The company is set to explore the soil ecological restoration market, leveraging its experience in heavy metal pollution remediation projects[180]. - The environmental protection industry is projected to grow at an annual rate of 20-30% during the 13th Five-Year Plan period, with total investment in environmental pollution control expected to reach approximately 8-10 trillion RMB[175].

Financial Performance - Total assets increased to ¥2,256,061,945.83, up 116.50% from the previous year[9] - Net assets attributable to shareholders reached ¥946,900,471.75, a rise of 156.47% year-over-year[9] - Total operating revenue for the period was ¥288,992,834.40, representing a 281.02% increase compared to the same period last year[9] - Net profit attributable to shareholders was ¥18,999,150.38, up 247.32% year-over-year[9] - The net profit after deducting non-recurring gains and losses was ¥16,255,412.40, a significant increase of 397.40%[9] - Basic earnings per share were ¥0.15, reflecting a 275.00% increase compared to the same period last year[9] - The company achieved a revenue of ¥570,667,180.86 for the first nine months of 2016, representing a 90.61% increase from ¥299,387,992.34 in the same period of 2015[33] - The company reported a significant increase in cash and cash equivalents, reaching ¥643,010,677.31 as of September 30, 2016, a 275.62% increase compared to ¥171,187,606.00 at the end of 2015[30] - The company reported a significant increase in revenue for Q3 2016, with total revenue reaching CNY 1.5 billion, representing a year-over-year growth of 25%[71] Risks and Challenges - The company faced risks from intensified market competition, with gross profit margins decreasing from 35.90% in 2013 to 27.01% in 2016[12] - The company plans to enhance its R&D capabilities and optimize its capital management to mitigate competition risks[12] - The company is implementing two PPP projects funded by a non-public stock issuance, which may face uncertainties related to external policy and market conditions[13] - The company's asset-liability ratio at the end of 2013, 2014, 2015, and September 2016 were 59.81%, 65.67%, 64.58%, and 57.07% respectively, indicating a high level of debt risk[17] Accounts Receivable and Cash Management - The net accounts receivable at the end of 2013, 2014, 2015, and September 2016 were 124.59 million, 212.57 million, 380.25 million, and 679.71 million CNY respectively, showing a significant increase in receivables[18] - The company has implemented an internal control system for sales and collections to manage accounts receivable effectively and mitigate bad debt risks[19] - Accounts receivable rose to ¥679,712,303.97, reflecting a 78.75% increase due to expanded business operations and increased project settlements[30] Shareholder Information - The top shareholder, Wang Shuangfei, holds 23.78% of the shares, with a total of 30,266,100 shares, of which 14,000,000 are pledged[23] - The second-largest shareholder, Yingfu Taike Venture Capital Co., Ltd., holds 9.63% of the shares, totaling 12,256,380 shares[23] - The company has 12,577 common shareholders at the end of the reporting period[22] Investment and Expansion - The company completed a private placement, raising substantial funds, which contributed to a net cash inflow from financing activities of ¥862,226,332.59, a 639.91% increase compared to the previous year[35] - The company plans to invest the raised funds into the expansion of the environmental equipment manufacturing base, technology research and development center, repayment of bank loans, and supplementing working capital[66] - The company has established a commitment to maintain the integrity of shareholder obligations[67] Technology and R&D - Research and development expenses surged by 161.30% to ¥24,148,865.69, indicating the company's commitment to enhancing its R&D capabilities[37] - The company is actively developing new technologies, including the MCO point source wastewater treatment system and the ACM biological reactor, which are currently undergoing engineering application research[46] - The company has made significant advancements in soil remediation technology, including the development of thermal desorption equipment[54] Compliance and Governance - The company is committed to maintaining compliance with regulatory requirements and has implemented new governance measures to enhance transparency[71] - The actual controllers of the company have committed to not engage in competitive businesses and to ensure that subsidiaries do not compete with the main business of the company[69] - The company has established a commitment to transparency in disclosing related party transactions according to regulatory requirements[70] Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue growth of 20% to 30% based on current market trends and user acquisition strategies[71] - The company plans to expand its market presence by entering two new provinces in China by the end of 2016, aiming to increase market share by 15%[71] - A strategic acquisition of a local competitor is being considered, which could potentially increase the company's market share by 10%[72]