美尚生态景观股份有限公司 2022 年第一季度报告全文 证券代码：300495 证券简称：*ST 美尚 公告编号：2022-059 美尚生态景观股份有限公司 2022 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准 确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带 的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声 明：保证季度报告中财务信息的真实、准确、完整。 3.第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增 | | --- | --- | --- | --- | | | | | 减 | | 营业收入（元） | 4,331,069.91 | 163,404,156.80 | -97.35% | | 归属于上市公司股东的净利润（元） | -39,795,11 ...

Financial Performance - The company achieved operating revenue of 213.77 million yuan in 2021, a decrease of 83.76% compared to the previous year[5]. - The net profit attributable to the parent company was -1,045.68 million yuan, a decline of 1005.81% year-on-year[5]. - The company recognized impairment losses of 853.58 million yuan, an increase of 322.99% compared to the previous year[5]. - The company's operating revenue for 2021 was ¥213,773,346.55, a decrease of 83.76% compared to ¥1,316,317,423.62 in 2020[28]. - The net profit attributable to shareholders for 2021 was -¥1,045,680,580.98, representing a decline of 1,005.81% from -¥94,562,664.16 in 2020[28]. - The net cash flow from operating activities was -¥808,041,066.42, a significant drop of 3,868.37% compared to -¥20,362,050.00 in 2020[28]. - The total assets at the end of 2021 were ¥5,938,402,495.85, down 19.00% from ¥7,331,150,251.32 at the end of 2020[28]. - The net assets attributable to shareholders decreased by 42.82% to ¥1,389,194,583.97 from ¥2,429,708,135.02 in 2020[28]. - The basic earnings per share for 2021 was -¥1.5508, compared to -¥0.1402 in 2020, reflecting a decline of 1,006.13%[28]. - The weighted average return on equity was -54.86% in 2021, a decrease of 51.04% from -3.82% in 2020[28]. - The company reported a net profit of -¥990,137,917.59 in Q4 2021, significantly impacting the annual results[31]. - The company reported a non-operating loss of ¥22,513,702.17, a significant decline compared to a profit of ¥1,216,183.22 in 2020[35]. - The company incurred a debt restructuring loss of ¥6,425,460.00 due to subsidiary debt transfer losses[35]. Business Strategy and Development - The company plans to strengthen research and development innovation and explore new business models to enhance its core competitiveness in the market[10]. - The company will implement a project risk control system to ensure the selection of high-quality projects with secure returns and guaranteed profits[14]. - The company aims to enhance management efficiency through a "360-degree refined management" and "Internet+ management" model[11]. - The company is committed to diversifying and professionalizing its business development to adapt to intensified market competition[10]. - The company is positioned to benefit from the "14th Five-Year Plan," which emphasizes ecological civilization and sustainable development, indicating a favorable market outlook[39]. - The company is actively involved in water ecological restoration projects, which are expected to see sustained growth due to national policies[43]. - The company plans to leverage technological advancements in environmental governance, aiming to capture market opportunities swiftly[44]. - The company is committed to supporting carbon peak and carbon neutrality goals through its ecological projects[43]. - The company has accumulated over 35 national patents and 14 specialized technologies, establishing a leading advantage in water ecological restoration[45]. - The mining restoration sector is experiencing explosive growth opportunities, with the company focusing on innovative business models to consolidate its market position[45]. - The company has developed a complete industrial chain layout in the ecological tourism sector, positioning itself as a comprehensive service provider in this field[49]. - The company is actively expanding its ecological product offerings and modernized production bases across multiple regions, contributing to carbon neutrality goals[52]. - The company is leveraging its experience in ecological restoration, tourism, and products to enhance its resource advantages and expand its business scope[52]. Challenges and Risks - The company is facing challenges in accounts receivable recovery due to prolonged project cycles and delayed payments influenced by the macroeconomic environment[14]. - The company has indicated uncertainty regarding its ability to continue as a going concern due to negative net profits in recent years[28]. - The company has faced challenges due to delisting risk warnings and the impact of COVID-19, leading to reduced financing capabilities and project delays[57]. - The company faces risks related to macroeconomic conditions, with potential impacts on project funding and receivables collection due to the ongoing pandemic[109]. Governance and Compliance - The company has established a comprehensive internal control system to enhance governance levels and protect investor rights[116]. - The company has implemented measures to ensure the independence of its operations, assets, personnel, and finances from the controlling shareholders[122]. - The company has a fully independent financial department with a separate accounting system and independent financial decision-making[123]. - The company has established a reporting channel for independent directors and internal audit departments to enhance oversight of management actions[172]. - The company has committed to a stable profit distribution policy to ensure reasonable returns for shareholders[176]. - The company emphasizes employee welfare and development, providing various training programs to enhance employee skills and satisfaction[176]. - The company has not engaged in any significant environmental violations or received administrative penalties during the reporting period[175]. Employee and Management - The total number of employees at the end of the reporting period was 330, with 115 in the parent company and 215 in major subsidiaries[150]. - The professional composition includes 214 technical personnel, 90 administrative personnel, 14 financial personnel, 8 production personnel, and 4 sales personnel[150]. - The company has implemented a competitive salary policy to attract talent, gradually increasing monthly salary standards[151]. - Due to the pandemic, the company developed online training courses in collaboration with the Wuxi Federation of Trade Unions, covering vocational skills, management capabilities, and comprehensive qualities[152]. - The company has established a structured training plan that is tailored to the needs of different departments, ensuring effective training quality[152]. Future Outlook - The company has set a future outlook with a revenue target of 1.5 billion RMB for 2022, reflecting an ambitious growth strategy of 25%[136]. - New product development includes the launch of eco-friendly landscaping solutions, expected to contribute an additional 10% to revenue in the upcoming year[136]. - The company is expanding its market presence, targeting new regions in Southeast Asia, with plans to establish two new offices by the end of 2022[136]. - The company is investing in technology upgrades, allocating 50 million RMB towards R&D for innovative landscaping technologies[136]. - The management team emphasized a focus on sustainability, with plans to reduce operational costs by 10% through eco-friendly practices[195].

Financial Performance - The company's operating revenue for Q3 2021 was ¥4,402,747.81, a decrease of 99.04% compared to the same period last year, with a year-to-date revenue of ¥183,247,847.20, down 81.04% year-on-year[3]. - The net profit attributable to shareholders for Q3 2021 was -¥69,385,484.17, a decline of 239.22% year-on-year, with a year-to-date net profit of -¥55,542,663.39, down 161.90% compared to the previous year[3]. - The basic earnings per share for Q3 2021 was -¥0.1029, a decrease of 239.24% year-on-year, and the diluted earnings per share was also -¥0.1029, reflecting the same percentage decline[3]. - The net loss for Q3 2021 was CNY 57,061,612.17, compared to a net profit of CNY 88,170,882.44 in Q3 2020, indicating a shift in profitability[24]. - The total comprehensive loss for Q3 2021 was CNY 57,526,827.15, compared to a comprehensive income of CNY 87,762,586.08 in Q3 2020[24]. Assets and Liabilities - The total assets at the end of Q3 2021 were ¥6,979,997,623.42, a decrease of 4.66% from the end of the previous year[3]. - As of September 30, 2021, the company's total assets amounted to RMB 6,979,997,623.42, a decrease from RMB 7,321,522,867.53 at the end of 2020[19]. - The company's total liabilities decreased to CNY 4,644,503,659.98 from CNY 4,925,691,911.52, reflecting a reduction of approximately 5.7%[21]. - The total current liabilities decreased to RMB 3,000,000,000.00 from RMB 3,200,000,000.00, reflecting a reduction of approximately 6.25%[20]. - The company's total liabilities as of September 30, 2021, were RMB 3,000,000,000.00, down from RMB 3,200,000,000.00, indicating a decrease of approximately 6.25%[20]. Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥63,680,524.44, down 66.87% compared to the same period last year[9]. - Operating cash flow for the current period is ¥63,680,524.44, a decrease of 66.8% compared to ¥192,233,121.58 in the previous period[26]. - Total cash inflow from operating activities is ¥451,401,134.48, down 58.8% from ¥1,096,782,001.90 year-on-year[26]. - Cash outflow from operating activities is ¥387,720,610.04, a reduction of 57.3% compared to ¥904,548,880.32 in the previous period[26]. - Net cash flow from financing activities improved to ¥225,270,702.94 from -¥325,351,597.13 in the previous period[27]. Equity and Investments - The total equity attributable to shareholders at the end of Q3 2021 was ¥2,283,945,064.83, a decrease of 2.51% from the previous year[4]. - The company's goodwill decreased to RMB 57,378,903.92 from RMB 60,189,069.34, a decline of about 4.7%[20]. - The company’s long-term equity investments remained stable at RMB 9,179,413.00, unchanged from the previous year[20]. - The company reported a total of RMB 39,618.36 million in funds returned by the controlling shareholder, with a remaining balance of RMB 59,477.54 million, which accounts for 15.38% of the latest audited net assets[17]. Operational Costs and Expenses - The company experienced a substantial decline in operating costs, which were ¥129,139,654.23 for Q3 2021, down 80.76% year-on-year, reflecting the drop in revenue[8]. - Total operating costs for Q3 2021 amounted to CNY 279,528,415.26, down 67.5% from CNY 861,158,195.65 year-on-year[23]. - Research and development expenses for Q3 2021 were CNY 13,408,926.88, down from CNY 19,729,632.38 in the same period last year, a decrease of 32.0%[23]. Credit and Impairment - The company reported a significant increase in credit impairment losses, amounting to ¥41,136,900.99, which is a 362.52% increase year-on-year[9]. - The company reported a credit impairment loss of CNY 41,136,900.99, significantly higher than CNY 8,894,097.05 in the previous year[23]. Government Subsidies and Other Income - The company reported a significant reduction in government subsidies received, which contributed to a decrease in other income by 68.65% year-on-year[8]. Miscellaneous - The report for the third quarter was not audited[33]. - The company has not disclosed any new product developments or market expansion strategies in this report[33].

Financial Performance - The company's operating revenue for the current period is ¥178,845,099.39, a decrease of 64.69% compared to ¥506,570,708.40 in the same period last year[26]. - The net profit attributable to shareholders for the current period is ¥13,842,820.78, down 65.30% from ¥39,890,243.55 in the previous year[26]. - The net cash flow from operating activities is ¥81,253,530.67, representing a decline of 53.78% from ¥175,794,344.38 in the same period last year[26]. - The total assets at the end of the current period amount to ¥7,151,417,409.03, a decrease of 2.36% from ¥7,324,147,228.06 at the end of the previous year[26]. - The company reported non-recurring losses of ¥4,441,228.17 during the current period[31]. - The weighted average return on net assets is 0.58%, down from 0.98% in the previous year[26]. - The company's operating revenue for the reporting period was ¥178,845,099.39, a decrease of 64.69% compared to ¥506,570,708.40 in the same period last year[54]. - Operating costs also fell by 64.93% to ¥124,912,434.32 from ¥356,196,233.84, primarily due to the impact of delisting risk warnings affecting normal operating loans[54]. - The net cash flow from financing activities increased significantly by 246.33% to ¥207,777,616.48, compared to a negative flow of ¥141,992,862.29 in the previous year[55]. - The company reported a credit impairment loss of ¥79,018,963.78, which is an increase of 208.87% from ¥25,583,483.77, primarily due to a reduction in receivables[55]. Goodwill and Impairment Risks - The company reported a goodwill amount of 57.3789 million yuan, indicating a risk of impairment that could adversely affect current profits[10]. - The company has identified significant impairment indicators for goodwill related to its acquisition of Chongqing Jindian Landscape Co., Ltd., leading to a full impairment provision in the 2020 annual report[10]. - The company is committed to strengthening internal controls and management of acquired subsidiaries to mitigate goodwill impairment risks[10]. - The company recognizes the risk of intensified market competition due to increased investment in the ecological landscape construction industry, which may affect project acquisition[7]. - The company is committed to resource integration and collaboration among subsidiaries to mitigate goodwill impairment risks[81]. Strategic Focus and Business Development - The company aims to enhance its core competitiveness through continuous R&D innovation and the introduction of new products, while exploring innovative business models[7]. - The company is facing operational management challenges due to its expanding business model, necessitating the optimization of management systems and the adoption of a "360-degree refined management" approach[9]. - The company is strategically focusing on economically developed regions, leveraging national strategies for integrated development in the Yangtze River Economic Belt[40]. - The company aims to contribute to carbon peak and carbon neutrality goals through green transformation and the promotion of low-carbon technologies[44]. - The company is actively participating in the ecological civilization construction, aligning with national policies for sustainable development and environmental protection[39]. Research and Development - The company has over 35 national patents and 14 specialized technologies, establishing a leading advantage in water ecological restoration business[40]. - The company has accumulated 117 patents, including 30 invention patents, enhancing its competitive edge in ecological restoration and product innovation[49]. - The company has developed innovative ecological products, such as the wood mulch organic covering, which has passed various certifications and aligns with international standards[50]. - Research and development expenses increased by 20.51% to ¥11,172,168.27 from ¥9,271,030.16, indicating a focus on innovation despite overall revenue decline[55]. - The company has invested 1,000 million in research and development for new technologies aimed at improving operational efficiency[139]. Market Opportunities and Challenges - The company is positioned to benefit from new opportunities arising from accelerated infrastructure construction and public health service investments by the government[6]. - The ecological tourism sector is expected to grow significantly, supported by the comprehensive rural revitalization strategy initiated by the government[44]. - The company is enhancing its management efficiency through "360-degree refined management" and "Internet+ management" models[80]. - The company faces macroeconomic risks due to uneven global economic recovery, with inflation and supply-demand gaps affecting performance[78]. - Infrastructure investment growth is weak, with a two-year average increase of 2.6% from January to May, impacted by strict project reviews and local government financial constraints[78]. Corporate Governance and Compliance - The company is committed to integrating economic and social benefits in its operations, adhering to legal business practices[94]. - The company is actively implementing measures to prevent the misuse of funds by controlling shareholders and related parties, enhancing internal control systems[101]. - The company has established a dynamic tracking and analysis system for large fund usage to prevent any illegal occupation of company assets[101]. - The company has committed to ensuring that the board of directors and management operate independently according to laws and regulations[106]. - The company has outlined specific measures to ensure that any related party transactions are conducted at fair market value, safeguarding shareholder interests[100]. Shareholder and Capital Management - The company plans to not distribute cash dividends or issue bonus shares, nor will it increase capital using reserves[11]. - The company has not sold any significant assets during the reporting period[74]. - The company has not engaged in any entrusted financial management, derivative investments, or entrusted loans during the reporting period[71][72][73]. - The company has committed to avoiding any business activities that may directly or indirectly compete with its main operations, ensuring compliance with competitive regulations[99]. - The company has a total of 201,176,914 shares pledged, with 189,912,245 shares frozen[162]. Contracts and Project Management - The company confirmed significant contracts totaling CNY 1.64 billion, with a performance completion rate of 97.04%[147]. - The company has a contract with the Luzhou Urban Construction Investment Group amounting to CNY 1.24 billion, with a performance completion rate of 31.29%[147]. - The company has a contract with the Chen Barhu Flag Agricultural Bureau for CNY 856 million, with a performance completion rate of 90.14%[147]. - The company has a contract with the Chongqing Jindian Garden Company for CNY 600 million, with a performance completion rate of 83.61%[147]. - The company has a contract with the Sichuan Tongrong Investment Company for CNY 429.5 million, with a performance completion rate of 94.57%[147].

Financial Performance - The company's operating revenue decreased due to the impact of the COVID-19 pandemic, with a significant delay in project execution and slower customer payment speeds, leading to an increase in accounts receivable aging and impairment losses[8]. - The company reported a decline in net profit, consistent with industry trends, as the pandemic affected the overall economic environment and cash flow[8]. - The company's operating revenue for 2020 was ¥1,341,317,036.29, a decrease of 31.05% compared to ¥1,945,444,966.30 in 2019[28]. - The net profit attributable to shareholders for 2020 was a loss of ¥5,696,255.63, representing a decline of 103.17% from a profit of ¥179,647,372.39 in 2019[28]. - The net cash flow from operating activities improved to -¥20,362,050.00 in 2020, a 94.48% increase compared to -¥368,779,083.23 in 2019[28]. - The total assets at the end of 2020 were ¥9,091,223,478.49, down 4.88% from ¥9,557,447,316.40 at the end of 2019[28]. - The net assets attributable to shareholders decreased by 5.68% to ¥3,814,585,348.19 at the end of 2020 from ¥4,044,347,237.51 at the end of 2019[28]. - The company reported a basic earnings per share of -¥0.0084 for 2020, a decrease of 103.06% from ¥0.2741 in 2019[28]. - The weighted average return on equity was -0.15% in 2020, down from 4.81% in 2019[28]. - The company experienced a significant decline in net profit, with the net profit after deducting non-recurring gains and losses at -¥6,912,438.85 for 2020, compared to ¥181,062,473.15 in 2019, a drop of 103.82%[28]. - The fourth quarter of 2020 saw a revenue of ¥374,878,228.85, with a net loss attributable to shareholders of -¥95,424,654.10[30]. - The company received government subsidies amounting to ¥1,689,811.60 in 2020, down from ¥3,248,061.74 in 2019[33]. Business Strategy and Development - The company plans to strengthen research and development, introduce innovative products, and explore new business models to maintain its core competitiveness in a competitive market[11]. - The company aims to enhance project risk control and improve accounts receivable recovery efficiency through a collaborative management approach[16]. - The ecological environment construction industry is expected to experience significant growth opportunities due to government policies and economic recovery, with no signs of overcapacity or continuous decline[9]. - The company has been deeply engaged in the ecological landscape construction industry for 20 years, focusing on three main areas: ecological restoration, ecological tourism, and ecological products, forming a complete industrial chain[37]. - The ecological restoration business includes various project types such as mine restoration, slope treatment, soil restoration, and wetland ecological restoration, with the company holding a strong competitive advantage in the mining restoration segment[37]. - The ecological tourism business provides comprehensive services including consulting, design, investment attraction, and ecological resource integration, establishing the company as a full-service provider in the ecological tourism sector[38]. - The company has launched the "Moqi Organic Covering Material" and new superior ecological plants, becoming a leading integrated producer in this market segment[38]. - The company has accumulated over 35 national patents and 14 specialized technologies in water ecological restoration, positioning itself as a leader in this field[42]. - The company aims to leverage the national strategy for the Yangtze River Economic Belt and the integration of the Yangtze River Delta to enhance project quality and promote healthy development[42]. - The company has implemented a "360-degree refined Internet+" management model to enhance construction management capabilities and efficiency[39]. - The company has established a scientific investment and financing management model to control project investment risks and optimize financing structure, improving operational cash flow[39]. - The "14th Five-Year Plan" emphasizes ecological civilization construction, providing a favorable policy environment for the company's growth in the ecological landscape and restoration sectors[41]. - The company has established a strong market position in the mining restoration sector since 2018, leveraging an innovative business model that reduces reliance on government funding[43]. - The implementation of the rural revitalization strategy is expected to create significant opportunities in rural ecological tourism, with a focus on projects that enhance ecological living conditions and increase farmers' income[43]. - The company has developed a comprehensive service model in the ecological tourism sector, supported by a robust industry resource base and operational experience, ensuring steady growth[44]. - The "Waste-Free City" initiative is part of a broader strategy to enhance resource efficiency and reduce carbon emissions, with the company positioned as a leader in the production and application of organic mulch products[46]. - The company aims to achieve a national forest coverage rate of 24.1% and a forest stock volume of 19 billion cubic meters by 2025, contributing to carbon neutrality goals through afforestation and ecosystem restoration[47]. - The company is actively exploring mechanisms to realize the value of ecological products, contributing to the growth of the green economy[47]. Risk Management - The company faces risks related to inventory settlement and accounts receivable collection due to longer project cycles and delayed payments, exacerbated by the pandemic[15]. - The company acknowledges the macroeconomic risks posed by the pandemic and the complex international trade environment, but remains optimistic about long-term growth opportunities in the ecological environment construction industry[10]. - The company has identified internal control deficiencies related to the controlling shareholder's influence, which may affect financial reporting[7]. - The company is committed to optimizing management practices and adopting advanced management models to improve operational efficiency[13]. - The company is enhancing its management efficiency through "360-degree refined management" and "Internet+ management" models to address operational challenges[108]. - The company is implementing measures to mitigate risks related to inventory settlement and accounts receivable collection, particularly due to extended project cycles[110]. - The company has strengthened its risk control measures, focusing on high-quality projects with secure receivables and guaranteed profits[61]. - The company is focusing on selecting high-quality projects with secure returns and guaranteed profits to mitigate risks[141]. - The company has committed to improving its internal control system in accordance with relevant regulations[140]. - The company is taking measures to eliminate issues highlighted in the audit report to safeguard shareholder rights[140]. Shareholder and Governance - The company will not distribute cash dividends or issue bonus shares, nor will it increase capital using reserves[17]. - The company distributed a cash dividend of RMB 0.53 per share, totaling RMB 35,736,812.86, based on a total share capital of 674,279,488 shares[115]. - The cash dividend amount for the year 2020 is proposed to be ¥0.00, indicating no profit distribution[120]. - The company has not made any cash dividend distribution proposals despite having positive profits available for distribution to ordinary shareholders[120]. - The company has complied with the cash dividend policy as per the requirements of the articles of association and shareholder resolutions[116]. - The independent directors have fulfilled their responsibilities and played their roles effectively in the decision-making process regarding dividends[116]. - The company has not adjusted or changed its cash dividend policy during the reporting period[116]. - The company has ensured that minority shareholders have had sufficient opportunities to express their opinions and that their legal rights are adequately protected[116]. - The company will introduce Xiangjiang Group as a controlling shareholder to optimize its shareholder structure and enhance the development of its three main businesses: ecological restoration, ecological tourism, and ecological products[106]. - The company is committed to enhancing its internal control system to prevent fund occupation by controlling shareholders and related parties[128]. - The company will establish a dedicated financial department and independent financial accounting system post-transaction[129]. - The company aims to ensure independent financial decision-making and compliance with tax regulations after the transaction[129]. - The company plans to strengthen internal audit work and closely monitor related party transactions[128]. - The company will not provide any form of guarantee to controlling shareholders or related parties[126]. - The company is committed to maintaining the independence of its labor, personnel, and compensation management systems[128]. - The company reported a commitment to maintain independent operations post-transaction, ensuring no interference in business activities[130]. - The company guarantees that it will have independent assets, personnel, qualifications, and capabilities for sustainable operations[130]. - The company has committed to avoiding any form of competition with its subsidiaries during the service period and for 12 months thereafter[132]. - The company will limit the transfer of shares to no more than 25% of its total holdings per year after the lock-up period expires[134]. - The company will announce any share transfers three trading days in advance[134]. - The company has established a clear structure to ensure independent governance and operations post-transaction[130]. - The company emphasizes the importance of maintaining independence from other enterprises controlled by the same stakeholders[131]. - The company has outlined measures to ensure that any potential business opportunities are communicated to it promptly[132]. - The company is committed to transparency in related party transactions, ensuring they are conducted fairly and legally[131]. Audit and Compliance - The company reported a non-standard audit opinion from Zhongxinghua, indicating significant risks faced by the company[140]. - The company aims to enhance internal audit work to monitor large fund transactions and ensure compliance with approval processes[141]. - The company is in the process of transferring shares to state-owned assets to resolve the fund occupation issue[139]. - The company established a receivables management team to enhance the efficiency of accounts receivable recovery, aiming for a more robust financial performance[142]. - The company reported a significant adjustment in financial statements due to the implementation of new revenue recognition standards, affecting the classification of accounts receivable and contract liabilities[144]. - The company corrected prior financial statement errors, resulting in a cumulative impact of approximately -¥1.01 billion on cash and adjustments to various accounts[148]. - The company appointed Zhongxinghua Accounting Firm as the external auditor for the 2020 fiscal year, following the resignation of the previous auditor due to scheduling conflicts[150]. - The company did not face any major litigation or arbitration matters during the reporting period[152]. - There were no penalties or rectification measures imposed on the company during the reporting period[153]. - The company has not engaged in any major related party transactions during the reporting period[155]. - The company has not reported any significant asset or equity acquisitions or sales during the reporting period[156]. - The company has not implemented any employee incentive plans or stock ownership plans during the reporting period[154]. - The company reported no related party debt transactions during the reporting period[158]. - The company has not entered into any management, contracting, or leasing arrangements during the reporting period[162]. - The company has not disclosed any major contracts or their performance during the reporting period, reflecting stability in operations[180][181]. Social Responsibility and Environmental Commitment - The company actively fulfills its social responsibilities, including a donation of over CNY 750,000 in medical supplies to support frontline workers during the COVID-19 pandemic[177]. - The company emphasizes environmental protection and has integrated ecological conservation into its core business strategy, focusing on ecological restoration and environmental governance[179]. - The company has not initiated any targeted poverty alleviation programs during the reporting year, nor does it have plans for such initiatives in the near future[178].

Financial Performance - The company's revenue for Q1 2021 was CNY 163,404,156.80, representing a 66.71% increase compared to CNY 98,017,424.38 in the same period last year[10] - Net profit attributable to shareholders was CNY 20,850,270.43, a significant turnaround from a loss of CNY 33,649,024.07 in the previous year, marking a 161.96% improvement[10] - Basic and diluted earnings per share were both CNY 0.0309, a recovery from a loss of CNY 0.0499 per share in the previous year, indicating a 161.96% increase[10] - The company's total revenue for the reporting period was CNY 163.40 million, an increase of 66.71% compared to the same period last year, primarily due to the normalization of business operations after the pandemic[20] - The net profit attributable to the parent company was CNY 20.85 million, a turnaround from a loss of CNY 33.65 million in the same period last year, marking a 161.96% improvement[20] - The total comprehensive income for the period was CNY 20,574,066.83, compared to a loss of CNY 34,219,604.76 in the previous year[46] Cash Flow and Liquidity - The net cash flow from operating activities was CNY 29,072,049.32, compared to a negative cash flow of CNY 106,725,396.34 in the same period last year, reflecting a 127.24% increase[10] - Cash flow from operating activities generated a net inflow of CNY 29,072,049.32, a significant improvement from a net outflow of CNY 106,725,396.34 in the prior period[50] - The company's cash and cash equivalents decreased by 35.80% to CNY 163.69 million, primarily due to the repayment of maturing payables during the reporting period[20] - The cash and cash equivalents at the end of the period decreased to 11,522,480.39 from 1,340,510,679.88, reflecting a substantial decline[54] Assets and Liabilities - Total assets at the end of the reporting period were CNY 9,083,983,231.64, a slight decrease of 0.08% from CNY 9,091,223,478.49 at the end of the previous year[10] - The company's total assets as of March 31, 2021, amounted to CNY 7,487,718,616.27, a decrease from CNY 7,567,339,314.14 at the end of 2020[37] - The company's total liabilities were reported at ¥5.20 billion, down from ¥5.22 billion, a decrease of about 0.4%[34] - Current liabilities decreased to ¥4.11 billion from ¥4.15 billion, reflecting a decline of approximately 0.8%[34] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,158[13] - The largest shareholder, Wang Yingyan, holds 29.84% of the shares, with 150,882,685 shares pledged[13] Research and Development - Research and development expenses rose significantly by 171.99% to CNY 9.26 million, indicating increased investment in R&D initiatives[20] - Research and development expenses for Q1 2021 were CNY 9,257,634.17, compared to CNY 3,403,677.72 in Q1 2020, marking an increase of about 172.5%[41] Investment Projects - The total amount of raised funds in the first quarter of 2021 was 91,812.05 million RMB, with 283.43 million RMB invested during the quarter[25] - The cumulative amount of raised funds used for investment projects reached 89,307.81 million RMB, representing a utilization rate of 97.26%[25] - The project "Chen Bar Hu Qi China Grassland Industry Cluster PPP" achieved 100.06% of its planned investment, totaling 45,027.36 million RMB[25] - The "Luzhou Bachelor Mountain Municipal Road and Park Greening Tourism Construction EPC Project" reached 99.99% of its planned investment, totaling 16,810 million RMB[25] - The "Rural Infrastructure Improvement Project in Luojiang County" achieved 100.00% of its planned investment, totaling 24,999 million RMB[25] Financial Strategy and Issues - The company is currently addressing non-operational fund occupation issues with its major shareholder, aiming for a resolution through state-owned asset acquisition[28] - The company has initiated measures to recover funds occupied by the controlling shareholder, with the first share transfer currently in process[28] - No new major shareholder or related party non-operational fund occupation activities were reported during the period[29] Operational Efficiency - Operating costs for the period were CNY 104.66 million, reflecting a 57.51% increase year-on-year, also attributed to the recovery from pandemic impacts[20] - The top five suppliers accounted for 49.96% of total purchases in the first quarter, with a total procurement amount of CNY 47.55 million[22] - The top five customers contributed 88.16% of total sales, with a combined sales amount of CNY 144.05 million[22]

Financial Performance - Operating revenue for the reporting period was CNY 459,868,099.04, an increase of 3.80% compared to the same period last year[8]. - Net profit attributable to shareholders of the listed company was CNY 49,838,154.92, a decrease of 13.58% year-on-year[8]. - Basic earnings per share were CNY 0.0739, down 20.11% year-on-year[8]. - The total operating revenue for the third quarter was CNY 459,868,099.04, an increase from CNY 443,041,339.39 in the previous period[38]. - The net profit for the quarter was CNY 49,642,198.21, down from CNY 57,774,939.06, representing a decrease of about 14.7%[40]. - The company's operating revenue for the current period is 294,803,884.44, a decrease from 334,840,321.15 in the previous period, representing a decline of approximately 11.93%[43]. - The net profit for the current period is 26,277,644.71, down from 47,816,692.81 in the previous period, indicating a decrease of about 45.00%[44]. - The total profit for the current period is 31,120,286.08, down from 60,167,699.00 in the previous period, a decrease of about 48.32%[44]. - The comprehensive income total for the current period is 87,762,586.08, down from 181,583,920.70 in the previous period, reflecting a decline of about 51.70%[49]. - Basic and diluted earnings per share decreased to 0.1331 from 0.2905, representing a decline of approximately 54.00%[49]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 9,369,746,814.94, a decrease of 3.70% compared to the end of the previous year[8]. - The company's current assets decreased to CNY 4,667,288,068.93 from CNY 5,369,711,887.53, representing a decline of about 13.1%[30]. - The company's total liabilities decreased to CNY 5,201,464,368.65 from CNY 5,372,340,168.27, a reduction of approximately 3.2%[32]. - The company's equity attributable to shareholders decreased to CNY 4,115,818,288.19 from CNY 4,318,129,859.00, a decline of about 4.7%[33]. - The total liabilities rose to CNY 3,756,758,720.76, compared to CNY 3,546,834,717.03, indicating an increase of about 5.9%[36]. - The total liabilities amounted to CNY 5,372,340,168.27, with total equity at CNY 4,357,727,259.86, resulting in total assets of CNY 9,730,067,428.13[68]. - The total current liabilities were CNY 2,646,663,134.48, while non-current liabilities totaled CNY 900,171,582.55, leading to a total liabilities figure of CNY 3,546,834,717.03[69]. Cash Flow - Net cash flow from operating activities was CNY 16,438,777.20, an increase of 108.82% compared to the same period last year[8]. - Cash flow from operating activities improved by 186.83% to ¥192.23 million, reflecting better cash collection management[20]. - The company reported a cash and cash equivalents net decrease of 180.65% to -¥182.00 million, primarily due to last year's non-public offering[20]. - The cash flow from operating activities generated a net amount of ¥192,233,121.58, a significant recovery from a net outflow of ¥221,389,738.04 in the same quarter last year[56]. - The total cash inflow from operating activities reached ¥889,517,056.53, up from ¥710,945,580.27 in the previous period, indicating a growth of approximately 25.1%[58]. - The net cash flow from financing activities was negative at -¥239,971,569.48, compared to a positive net cash flow of ¥767,908,975.64 in the previous period[60]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 37,189[12]. - The largest shareholder, Wang Yingyan, held 29.84% of the shares, amounting to 201,176,914 shares[12]. Research and Development - Research and development expenses decreased by 41.29% to ¥19.73 million due to slowed progress caused by the pandemic[19]. - The company incurred research and development expenses of CNY 10,458,602.22, up from CNY 7,380,487.25, indicating an increase of about 42.3%[39]. - Research and development expenses for the quarter were ¥16,590,886.23, a decrease of 44.5% compared to ¥30,076,519.85 in the same period last year[51]. - The company has indicated a focus on expanding its market presence and enhancing product development strategies moving forward[44]. Compliance and Governance - The company has no significant non-compliance issues or overdue commitments during the reporting period[21]. - The company has not undergone an audit for the third quarter report, indicating that the figures presented are unaudited[71]. - The company has implemented new revenue and leasing standards starting in 2020, which may affect future financial reporting[70].

Economic Impact and Recovery - The company reported a significant impact from the COVID-19 pandemic, with GDP growth in Q1 2020 being severely affected, while Q2 showed signs of recovery with production and consumption rebounding [6]. - The overall economic environment remains complex and challenging, with uncertainties stemming from international relations and the ongoing pandemic [6]. - The macroeconomic environment remains challenging due to the COVID-19 pandemic, with GDP growth in the first half of 2020 weaker than potential levels [83]. - The government has accelerated major infrastructure projects and increased investment in public health services, which is expected to create new opportunities for the industry [7]. - The government is accelerating major infrastructure projects and increasing investment in public health services, which will create new opportunities for industry development [84]. Financial Performance - The company's operating revenue for the current period is ¥506,570,708.40, a decrease of 37.52% compared to the same period last year [23]. - The net profit attributable to shareholders for the current period is ¥39,890,243.55, down 67.68% year-over-year [23]. - The net profit after deducting non-recurring gains and losses is ¥39,486,528.59, reflecting a decline of 68.51% compared to the previous year [23]. - The net profit for the first half of 2020 was CNY 38,528,684.23, a decline of 68.9% from CNY 123,817,875.82 in the first half of 2019 [178]. - The company reported a comprehensive income total of CNY 39,890,000.00 for the first half of 2020, compared to a loss in the previous year, indicating improved financial performance [192]. Cash Flow and Liquidity - The net cash flow from operating activities has significantly improved to ¥175,794,344.38, an increase of 602.41% from a negative cash flow in the same period last year [23]. - The net cash flow from operating activities for the first half of 2020 was CNY 194,438,658.78, compared to CNY 57,176,776.33 in the same period of the previous year, representing a significant increase [189]. - The cash inflow from investment activities was CNY 68,492,815.44, compared to CNY 43,211.90 in the first half of 2019 [185]. - The net cash flow from financing activities was CNY -141,992,862.29, a decrease from CNY 816,707,769.07 in the first half of 2019 [186]. Operational Strategy and Management - The company plans to enhance its core competitiveness through continuous R&D innovation and the introduction of new products, aiming to diversify and differentiate its business [8]. - The company has adopted a "360-degree refined management" and "Internet+" management model to improve operational efficiency amid challenges from its expanded business model and acquisitions [9]. - The company is committed to enhancing its management systems to adapt to its growth and operational challenges [9]. - The company emphasizes the importance of maintaining a competitive edge in a market with increasing competition due to heightened investment interest in the ecological landscape sector [8]. Risks and Challenges - The company faces risks related to goodwill impairment due to potential deterioration in the operating conditions of acquired subsidiaries, which could negatively impact financial performance [10]. - The company faces operational management risks due to its expanding business model and acquisitions, necessitating optimization of management systems [85]. - There is a risk of goodwill impairment if the acquired subsidiaries' future operating conditions deteriorate, which could negatively impact the company's financial results [86]. Research and Development - The company has accumulated over 35 national patents and 14 specialized technologies in water ecological restoration, establishing a leading advantage in the industry [36]. - R&D investment decreased by 64.65% to 9.27 million yuan, primarily due to delays caused by the pandemic [58]. - The company has a strong R&D team collaborating with renowned universities, focusing on systematic governance of natural resources [44]. Market Opportunities - The company is positioned to benefit from increased infrastructure investment and government support for ecological restoration projects, particularly in water ecosystem restoration [34]. - The market for mine restoration is valued at over 540 billion yuan, with an annual new restoration scale of 7 billion yuan, indicating significant growth potential [36]. - The total scale of China's tourism market is projected to reach 6.7 billion visitors and 7 trillion yuan in total revenue by 2020, providing a robust growth opportunity for the company's ecological tourism business [38]. Shareholder and Equity Information - The basic earnings per share for the first half of 2020 was CNY 0.0592, compared to CNY 0.3269 in 2019, representing a decrease of approximately 81.9% [125]. - The total number of ordinary shareholders at the end of the reporting period was 41,117 [129]. - The largest shareholder, Wang Yingyan, held 31.15% of the shares, with a total of 141,128,900 shares, which included a reduction of 20,227,884 shares during the reporting period [129]. Financing and Debt Management - The company has developed a diversified financing structure, including a mix of short and long-term financing, enhancing its risk resistance capabilities [43]. - The total external guarantee amount approved during the reporting period was CNY 215,000,000, with actual guarantees amounting to CNY 149,793,500 [111]. - The company has a long-term guarantee period of 15 years for certain subsidiaries, indicating a commitment to support their operations [111]. Compliance and Governance - The company has maintained compliance in the disclosure of raised fund usage and management, with no violations reported [75]. - The company has not undergone any major litigation or arbitration during the reporting period [96]. - The company has not reported any new capital contributions or reductions during the current period [197].

Financial Performance - Total revenue for Q1 2020 was ¥98,017,424.38, a decrease of 59.70% compared to ¥243,224,516.72 in the same period last year[8] - Net profit attributable to shareholders was -¥33,649,024.07, representing a decline of 402.48% from ¥11,124,424.86 year-on-year[8] - The company's operating revenue for Q1 2020 was approximately ¥98 million, a decrease of 59.70% compared to ¥243 million in the same period last year, primarily due to the impact of the COVID-19 pandemic[19] - The company's net profit attributable to shareholders was approximately -¥33.65 million, a decrease of 402.48% compared to ¥11.12 million in the same period last year, also affected by the pandemic[19] - The net profit for Q1 2020 was a loss of CNY 34,278,728.64, compared to a profit of CNY 11,109,161.35 in the same period last year[41] - The total comprehensive income for the period was approximately -¥34.22 million, contrasting with a positive comprehensive income of ¥10.97 million in the prior year[44] Cash Flow and Liquidity - The net cash flow from operating activities was -¥106,725,396.34, a decrease of 173.41% compared to -¥39,035,555.49 in the previous year[8] - The company reported cash and cash equivalents at the end of the period amounting to approximately ¥1.37 billion, down from ¥2.01 billion at the end of the previous period[49] - The cash flow from operating activities showed a net outflow of approximately -¥106.73 million, compared to -¥39.04 million in the previous period, indicating worsening cash flow conditions[48] - Cash inflow from financing activities totaled 70,000,000.00, down from 1,184,942,919.41, leading to a net cash flow of -33,653,694.78, a significant decrease from 1,002,714,130.47[52] Assets and Liabilities - Total assets at the end of the reporting period were ¥9,249,278,168.15, a decrease of 4.94% from ¥9,730,067,428.13 at the end of the previous year[8] - The company's total assets amounted to RMB 9,249,278,168.15, a decrease from RMB 9,730,067,428.13 as of December 31, 2019, reflecting a decline of approximately 4.93%[31] - The company's total liabilities decreased to RMB 5,167,241,099.84 from RMB 5,372,340,168.27, reflecting a decline of approximately 3.83%[33] - The total liabilities as of March 31, 2020, were CNY 3,332,276,356.02, a decrease from CNY 3,546,834,717.03 at the end of 2019[37] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 36,439[11] - The largest shareholder, Wang Yingyan, holds 31.15% of the shares, with 210,039,884 shares, of which 172,700,523 are pledged[11] Investment and Projects - The company signed new contracts worth approximately ¥800 million since resuming operations at the end of February 2020, indicating a recovery in business activities[20] - The project "Chenbaerhu Qi China Grass Industry Cluster PPP" has a total investment of ¥45,000,000, with 77.82% of the investment completed by December 31, 2020[25] - The "Luzhou Bachelor City Municipal Road and Park Greening Tourism" project has a total investment of ¥16,812,050, with 96.35% of the investment completed by October 31, 2020[25] - The "Luojian County 2017 Urban and Rural Infrastructure Improvement Project" has a total investment of ¥25,000,000, with 99.89% of the investment completed by December 31, 2020[25] Research and Development - Research and development expenses decreased by 31.59% to ¥3.40 million from ¥4.98 million, reflecting reduced investment due to the pandemic[19] - The company’s research and development expenses for Q1 2020 were CNY 3,403,677.72, down from CNY 4,975,602.99 in the previous period[40] Future Outlook and Strategy - The company is strategically focusing on economically developed regions and has aligned its operations with national infrastructure and ecological construction policies, which are expected to positively impact its business[20] - The company plans to focus on market expansion and new product development as part of its future strategy[44]

Financial Performance - The company's operating revenue for 2019 was ¥1,945,444,966.30, a decrease of 15.37% compared to ¥2,298,868,545.31 in 2018[23]. - The net profit attributable to shareholders for 2019 was ¥214,233,994.05, down 44.61% from ¥386,782,235.90 in 2018[23]. - The net cash flow from operating activities was -¥259,630,991.75, representing a decline of 258.73% compared to ¥163,568,677.20 in 2018[23]. - The basic earnings per share for 2019 were ¥0.3269, a decrease of 49.61% from ¥0.6488 in 2018[23]. - The weighted average return on net assets was 5.37% in 2019, down from 12.54% in 2018, indicating a decline in profitability[23]. - The total revenue for the ecological protection and environmental governance sector was CNY 1,945,444,966.30, a decrease of 15.37% compared to the previous year[61]. - The ecological restoration segment generated CNY 1,211,692,025.59, maintaining a slight increase of 0.15% year-over-year[62]. - The ecological cultural tourism revenue dropped significantly by 33.06% to CNY 682,015,736.63[62]. Dividend Distribution - The company reported a profit distribution plan, proposing a cash dividend of 0.53 RMB per 10 shares (including tax) based on a total of 674,279,488 shares[12]. - The company plans to distribute a cash dividend of RMB 0.53 per 10 shares, totaling RMB 35,736,812.86 for the 2019 fiscal year[106]. - The total number of shares for the dividend distribution is based on 674,279,488 shares after accounting for repurchased shares[109]. - The company has a cash dividend payout ratio of 100% of its distributable profits for the reporting period[107]. - The company reported a cash dividend of 35,736,812.86 in 2019, which accounted for 16.68% of the net profit attributable to ordinary shareholders[111]. - In 2018, the cash dividend was 67,429,148.80, representing 17.43% of the net profit attributable to ordinary shareholders[111]. Business Strategy and Development - The company aims to enhance its core competitiveness through continuous R&D innovation and the introduction of new products, amidst intensifying market competition[8]. - The company is committed to maintaining a diversified and specialized business development strategy to adapt to market changes[8]. - The company has developed a complete industry chain in ecological landscape construction, covering ecological restoration, ecological tourism, and ecological products[31]. - The company aims to become a leading enterprise in mine restoration, leveraging its strong technical and project management capabilities[31]. - The company has diversified its business structure into three main areas: ecological restoration, ecological tourism, and ecological products, providing multiple growth avenues[48]. - The company is focused on infrastructure development as a key growth strategy in response to government policies aimed at stabilizing the economy[100]. Research and Development - The company has established a research and development management model oriented towards market demand, ensuring the development of technologies and products that meet business requirements and market needs[33]. - The company has accumulated over 35 national patents and 14 specialized technologies in water ecological restoration, positioning itself as a leader in the industry[37]. - The company has established a high-quality research and development platform in collaboration with several universities, enhancing its technological capabilities[72]. - Research and development expenses rose by 23.44% to CNY 45,507,102.39, indicating a focus on innovation[71]. - The number of R&D personnel increased to 66, accounting for 7.85% of the total workforce, up from 5.05% in the previous year[76]. Operational Challenges - The company faces increased operational management challenges due to the expansion of its business model and acquisitions, necessitating the optimization of management systems[9]. - The company acknowledges the risks associated with macroeconomic fluctuations and government spending reductions affecting its business growth[6]. - The company recognizes the impact of the COVID-19 pandemic on its financial status and operational results, but remains optimistic about long-term economic growth in China[12]. - The company is actively monitoring the global pandemic situation and is prepared to capitalize on post-pandemic economic recovery opportunities[12]. Financial Position and Investments - The total assets at the end of 2019 were ¥9,730,067,428.13, an increase of 18.63% from ¥8,202,293,509.51 at the end of 2018[23]. - The company successfully raised 930 million yuan through a private placement and secured a 200 million yuan PPP project loan from the Agricultural Development Bank, strengthening its financial position for project execution[44]. - The company has committed to invest CNY 45,000 million in the Chenbaerhu project, with a cumulative investment of CNY 35,020.16 million, achieving 77.82% of the planned investment[89]. - The cumulative investment in the Urban and Rural Improvement Project is CNY 24,922.08 million, representing 99.69% of the planned investment of CNY 25,000 million[89]. Compliance and Governance - The company has maintained transparency in its commitments and compliance with regulatory requirements throughout the reporting period[131]. - The company has not reported any violations regarding external guarantees during the reporting period, reflecting compliance with regulations[170]. - The company has committed to ensuring that its controlling shareholders and related parties adhere to the same competitive restrictions[119]. - The company guarantees the independence of its financial department and accounting system post-transaction, ensuring no shared banking accounts with controlled entities[123]. Social Responsibility - The company actively participated in social responsibility initiatives, donating over CNY 250,000 to support local poverty alleviation efforts[176]. - During the COVID-19 pandemic, the company procured and donated medical supplies worth CNY 182,000 to frontline medical teams[176].