Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,003,595,304.05, representing a 28.00% increase compared to CNY 784,051,557.95 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was CNY 180,914,797.14, an increase of 18.29% from CNY 152,935,450.31 in the previous year[21]. - Basic earnings per share for the reporting period were CNY 0.2531, reflecting an 18.33% increase from CNY 0.2139 in the same period last year[21]. - The weighted average return on net assets was 5.01%, an increase of 0.33% compared to 4.68% in the previous year[21]. - The company reported a total profit for the first half of 2021 of CNY 233,724,716.16, compared to CNY 211,213,317.39 in the first half of 2020, marking an increase of around 10.6%[154]. - The company's operating profit for the first half of 2021 was CNY 232,630,453.52, which is higher than CNY 210,173,256.98 in the same period of 2020, showing an increase of approximately 10.3%[154]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY -340,530,038.07, a significant decline of 683.73% compared to CNY -43,449,798.31 in the same period last year[21]. - The cash flow from operating activities for the first half of 2021 was CNY 779,665,945.12, compared to CNY 708,331,732.17 in the first half of 2020, reflecting an increase of approximately 10.1%[160]. - The ending balance of cash and cash equivalents was 319,928,540.35 CNY, down from 480,906,917.62 CNY in the previous period, indicating a liquidity squeeze[162]. - Total cash inflow from operating activities was 791,124,322.94 CNY, while cash outflow was 1,131,654,361.01 CNY, resulting in a net cash outflow of 340,530,038.07 CNY[161]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 6,936,465,520.41, up 3.44% from CNY 6,705,715,735.11 at the end of the previous year[21]. - The company's cash and cash equivalents at the end of the reporting period were 370,981,179.84 yuan, accounting for 5.35% of total assets, down from 10.34% at the end of the previous year[48]. - Accounts receivable increased to 773,541,243.19 yuan, representing 11.15% of total assets, up from 10.52%[48]. - The company's total liabilities were ¥2,983,675,403.15, compared to ¥2,927,382,569.74 at the end of 2020, indicating a rise of 1.9%[148]. Business Operations and Strategy - The company is actively expanding its high-end environmental technology and equipment manufacturing business, launching innovative products like the PPMI prefabricated water plant and PSIW integrated sewage treatment equipment[28]. - The company focuses on water investment and operation services, covering municipal water supply and sewage treatment, with a strong emphasis on sewage treatment as a key service area[28]. - The company aims to achieve revenue through various channels, including water treatment service fees, engineering contracting, and the sale of environmental treatment equipment[31]. - The company has developed a systematic capability for the research, design, and production of specialized environmental water treatment equipment, holding multiple patents in this area[29]. Environmental Compliance and Performance - The company maintained compliance with the GB18918-2002 Class A standard for wastewater discharge across its facilities[76]. - The company reported a total COD discharge of 253.3 tons in the first half of 2021, with a maximum allowable discharge of 1142.03 tons[76]. - The company achieved a total wastewater treatment volume of 9.05 million tons in the first half of 2021[77]. - The company continues to focus on enhancing its wastewater treatment capabilities and compliance with environmental regulations[76]. Risks and Challenges - The company has faced significant cash flow challenges, particularly in its core operating activities, which may impact future investment strategies[21]. - The company faces investment risks due to potential delays and budget overruns in project execution, particularly in emerging sectors like solid waste treatment[64]. - Intense competition in urban sewage treatment and industrial wastewater management is expected to increase as more state-owned enterprises enter the market[64]. - The company has identified operational quality risks related to wastewater treatment, which could affect project outcomes if not managed properly[65]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[6]. - The total number of shares decreased from 714,844,800 to 714,244,800, a reduction of 600,000 shares due to the cancellation of restricted stocks for a departing employee[125]. - The largest shareholder, Yixing Pengyao Investment Co., Ltd., held 216,702,150 shares, accounting for 30.34% of total shares[130]. - The company has 64 incentive plan participants, with 16,342,500 shares under the stock option and restricted stock incentive plan[128]. Legal and Regulatory Matters - The company is involved in several ongoing litigation cases, with amounts involved including 11,556.99 million yuan and 4,249.65 million yuan[89]. - The company has received a judgment requiring payment of 3,000 million yuan from the Yueyang Municipal Finance Bureau[89]. - The company faced an administrative penalty for illegal land occupation, resulting in a fine of 61,340 yuan[93]. - There were no significant litigation or arbitration matters during the reporting period[88].

鹏鹞环保股份有限公司 2021 年第一季度报告全文 鹏鹞环保股份有限公司 2021 年第一季度报告 2021-023 2021 年 04 月 1 鹏鹞环保股份有限公司 2021 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 2 鹏鹞环保股份有限公司 2021 年第一季度报告全文 第二节 公司基本情况 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 追溯调整或重述原因 公司负责人王鹏鹞、主管会计工作负责人吴艳红及会计机构负责人(会计主 管人员)吕倩倩声明：保证季度报告中财务报表的真实、准确、完整。 其他原因 | | 本报告期 | 上年同期 | | 本报告期比上年同 | | --- | --- | --- | --- | --- | | | | | | 期增减 | | | | 调整前 | 调整后 | 调整后 | | 营业收入（元） | 399,852,930.83 | 330,115,8 ...

Financial Performance - The company's operating revenue for 2020 was ¥2,124,923,263, representing a 9.91% increase from ¥1,933,343,820 in 2019[23]. - Net profit attributable to shareholders for 2020 was ¥385,738,524, a 33.06% increase from ¥289,897,711 in 2019[23]. - The net cash flow from operating activities improved significantly to ¥290,952,867, a 581.49% increase from a negative cash flow of ¥60,427,657 in 2019[23]. - Basic earnings per share for 2020 was ¥0.5458, up 34.20% from ¥0.4067 in 2019[23]. - Total assets at the end of 2020 reached ¥6,705,715,735, a 7.40% increase from ¥6,243,501,463 at the end of 2019[23]. - The company's net assets attributable to shareholders increased by 5.87% to ¥3,516,149,913 at the end of 2020 from ¥3,321,100,281 at the end of 2019[23]. - The company reported a quarterly revenue of ¥796,585,045.85 in Q4 2020, the highest among the four quarters[25]. - The net profit attributable to shareholders in Q3 2020 was ¥121,686,576.64, the highest quarterly figure for the year[25]. - The company did not report any significant discrepancies between quarterly reports and annual financial indicators[25]. - Non-operating income for 2020 included government subsidies amounting to ¥4,549,411.36[29]. - The company achieved a net cash flow from operating activities of CNY 290,952,867.64, a significant increase of 581.49% compared to the previous year[82]. - The company reported a total revenue of 1.5 billion RMB for the year 2020, representing a year-over-year growth of 15%[123]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the year, representing a 20% growth compared to the previous year[130]. Dividend Distribution - The company reported a profit distribution plan to distribute cash dividends of 0.65 RMB per 10 shares (including tax) based on 714,244,800 shares[11]. - In 2020, the company distributed a cash dividend of RMB 0.65 per share, totaling RMB 46,425,912 (including tax), which represents 12.04% of the net profit attributable to ordinary shareholders[110]. - The total cash dividend, including other methods, amounted to RMB 246,295,114.33, accounting for 63.85% of the net profit attributable to ordinary shareholders[116]. - The company plans to maintain a cash dividend payout ratio of at least 80% during profit distribution[111]. - The cash dividend distribution plan for 2020 was approved at the annual general meeting held on May 18, 2020[109]. - The cash dividend distribution for 2019 was RMB 30,976,608, which was 10.69% of the net profit[116]. - The company’s retained earnings will be carried forward for future distribution as no additional dividends were proposed for 2020[114]. Market Expansion and Competition - The company is experiencing intensified competition in urban sewage treatment and comprehensive environmental services, with numerous competitors in various segments[6]. - The company is expanding its market presence in emerging fields such as solid waste treatment and ecological environment governance[5]. - Recent government policies promoting ecological protection and environmental governance are expected to drive growth in the environmental industry, presenting significant opportunities for the company[39]. - The company is focusing on the development of new technologies and equipment, with 12 processes recognized by provincial and ministerial technology evaluations[44]. - The company is strategically expanding into solid waste resource treatment, diversifying its service offerings[42]. - The company aims to expand its influence in first-tier cities through strategic partnerships and collaborations[101]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[127]. - The company plans to promote the newly developed PPMI series products in water projects to replace traditional structures and enhance overall project returns[102]. Risk Management - The company faces risks related to project delays, budget overruns, and delayed payments due to changes in national industrial policies and macroeconomic conditions[5]. - The company acknowledges risks related to water treatment quality, particularly from industrial wastewater exceeding pre-treatment standards[9]. - The company has a low likelihood of bad debts due to its customer base primarily consisting of government departments and large state-owned enterprises[10]. - The company is focused on enhancing its management practices to mitigate risks associated with rapid growth and cash flow management[10]. - The company emphasizes the importance of improving management levels to maintain competitiveness as its business scope expands[8]. - The company is committed to maintaining steady growth while addressing potential risks in its operational environment[10]. Environmental Compliance - The company is focused on improving its wastewater treatment processes to meet and exceed environmental standards[176]. - The company’s wastewater treatment facilities maintained compliance with the GB18918-2002 Class A standards for various pollutants[176]. - The total annual COD emissions for 2020 were reported at 4,380 tons, with a compliance limit of ≤1,752 tons/year[176]. - The total annual NH3-N emissions reached 1,092.3 tons, exceeding the compliance limit of ≤584 tons/year[176]. - The company has implemented continuous discharge monitoring to maintain compliance with GB18918-2002 standards[178]. - The company achieved a total annual TP emission of 73 tons, with a compliance limit of ≤73 tons/year[176]. - The company reported a total annual discharge of 182.5 tons for NH3-N across its facilities[178]. - The company operates multiple wastewater treatment plants, each with specific discharge limits to ensure compliance with national standards[178]. Research and Development - The company is actively involved in the development of new environmental protection equipment and resource utilization technologies[5]. - The company has developed innovative products such as the PPMI modular water plant and PSIW integrated sewage treatment equipment, aiming to disrupt traditional water treatment facilities[34]. - Research and development expenses amounted to CNY 37,688,683.30, representing 1.77% of total revenue, an increase from 1.24% in 2019[79]. - The company expanded its R&D personnel to 74, accounting for 5.57% of the total workforce, up from 3.24% in 2019[79]. - The company developed new technologies for wastewater treatment, including integrated equipment and biological denitrification processes[77]. - The company has implemented a self-monitoring plan for environmental compliance, including continuous monitoring of effluent quality[182]. Corporate Governance - The company has committed to fulfilling all public commitments made during its initial public offering and is actively accepting social supervision[138]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[141]. - The company has maintained its internal control audit and financial advisory services without any changes in the accounting firm[145]. - The company has successfully merged several subsidiaries to streamline operations and improve efficiency[144]. - The company has committed to minimizing investor losses and ensuring transparency in its operations[139]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 48,889, an increase from 48,014 at the end of the previous month[200]. - Yixing Pengyao Investment holds 30.31% of shares, increasing by 72,234,050 shares during the reporting period[200]. - The largest shareholder, Yixing Pengyao Investment, has 216,702,150 shares, with no pledged shares[200]. - The company has no new strategic investors or general legal entities becoming top 10 shareholders during the reporting period[200]. - There are no reported relationships or agreements among the shareholders that would indicate coordinated actions[200]. Legal and Regulatory Matters - The company faced an administrative penalty of RMB 500,000 due to illegal discharge of wastewater, requiring immediate corrective actions[148]. - The company was fined RMB 110,000 for failing to register the use of a tower crane and not preparing a safety plan for excavation work[149]. - An additional penalty of RMB 40,000 was imposed for exceeding its qualification level in a waste disposal project[150]. - The company reported a litigation case involving a dispute over a franchise agreement with a total amount of 76.2 million yuan[146].

鹏鹞环保股份有限公司 2020 年第三季度报告全文 鹏鹞环保股份有限公司 2020 年第三季度报告 2020-109 2020 年 10 月 1 鹏鹞环保股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人王洪春、主管会计工作负责人吴艳红及会计机构负责人(会计主 管人员)吕倩倩声明：保证季度报告中财务报表的真实、准确、完整。 2 鹏鹞环保股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 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 追溯调整或重述原因 其他原因 | | 本报告期末 | | 上年度末 | | | | 本报告期末比上年度 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | 末增减 | | | | | | 调整前 | | 调整后 ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of 500 million RMB for the first half of 2020, representing a 15% growth compared to the same period last year[21]. - Operating revenue for the reporting period was CNY 784,051,557.95, an increase of 16.10% compared to the same period last year[27]. - Net profit attributable to shareholders was CNY 152,935,450.31, reflecting a growth of 26.72% year-over-year[27]. - Basic earnings per share were CNY 0.2139, representing a 26.34% increase compared to the previous year[27]. - The company’s investment and operation business revenue reached CNY 292.31 million, up by CNY 43.46 million year-on-year[50]. - The company reported a total of ¥595,820,337.87 in operating costs for the first half of 2020, which is an increase of 7.73% from ¥556,204,006.12 in the first half of 2019[168]. - The total comprehensive income for the first half of 2020 was CNY 2,951,881.34, which is a decrease from CNY 32,072,545.08 in the first half of 2019, reflecting a decline of approximately 91.83%[175]. Market Expansion and Development - User data indicates that the company has expanded its customer base, with a 20% increase in the number of contracts signed with local governments and state-owned enterprises[11]. - The company is actively pursuing market expansion, targeting new regions in southern China, with plans to establish three new treatment facilities by the end of 2021[21]. - The company has identified potential acquisition targets in the environmental services sector to enhance its service offerings and market share[21]. - The company is actively expanding into organic solid waste disposal and resource utilization, as well as high-end environmental technology and equipment manufacturing[35]. - The company has developed multiple patents for its environmental water treatment equipment, enhancing its competitive edge in the market[36]. Research and Development - New product development includes the launch of an advanced wastewater treatment technology, which is expected to improve efficiency by 30%[21]. - The company plans to invest 100 million RMB in research and development for innovative environmental solutions over the next two years[21]. - The company’s R&D investment increased by 77.12% to CNY 10.60 million, reflecting a commitment to technological innovation[55]. Financial Management and Cash Flow - The company has implemented new strategies to improve cash flow management, aiming to reduce accounts receivable turnover days by 15%[11]. - The net cash flow from operating activities improved significantly to CNY -43,449,798.31, a 80.01% increase compared to the previous year[27]. - The cash flow from operating activities increased by 80.01% year-on-year, primarily due to an increase in cash received from sales[55]. - The company raised CNY 502,750,000.00 through borrowings in the first half of 2020, an increase from CNY 352,059,748.45 in the same period of 2019[178]. Competition and Risks - The company acknowledges risks related to intensified competition in the environmental services industry, particularly from state-owned enterprises and large private firms[8]. - The company faces investment risks due to potential delays and budget overruns in project execution, influenced by national policies and market conditions[78]. - Water treatment quality risks arise from factors such as influent water quality and equipment operation, with potential penalties from environmental authorities if standards are not met[79]. - Although accounts receivable risks are low due to strong client creditworthiness, the expansion of business may increase the scale of receivables, potentially affecting cash flow[79]. Environmental Compliance and Operations - The company’s wastewater treatment plants maintained compliance with environmental standards, with COD discharge not exceeding 50 mg/l and NH3-N not exceeding 5 mg/l[113]. - The company’s wastewater treatment operations are focused on reducing pollution and meeting regulatory requirements, with specific attention to COD, NH3-N, TN, and TP levels[113]. - Continuous monitoring of effluent quality is conducted through a self-monitoring plan and third-party monitoring services[120]. - The company has established an emergency response plan for environmental incidents based on its specific circumstances[119]. Shareholder and Capital Structure - The total share capital increased from 480 million shares to 729.1766 million shares, with a capital increase of 238,281,600 shares through a bonus issue[129]. - The company granted 10,895,000 restricted shares to 64 incentive objects as part of the 2019 stock option and restricted stock incentive plan[129]. - The largest shareholder, Yixing Pengyao Investment Co., Ltd., holds 29.72% of the shares, totaling 144,710,000 shares[141]. - The company has not undergone any changes in its controlling shareholder during the reporting period[143]. General Corporate Governance - The financial statements were approved by the board of directors on August 21, 2020[199]. - The company did not experience any changes in its board of directors or senior management during the reporting period[153]. - There were no significant penalties or rectification measures during the reporting period[92].

Financial Performance - The company's operating revenue for 2019 was ¥1,933,343,820.28, representing a 150.52% increase compared to ¥771,743,080.77 in 2018[23]. - The net profit attributable to shareholders for 2019 was ¥289,897,711.70, a 72.31% increase from ¥168,243,158.50 in 2018[23]. - The net profit after deducting non-recurring gains and losses was ¥274,321,570.10, up 82.82% from ¥150,049,636.82 in 2018[23]. - The company's total assets increased by 9.52% to ¥6,243,501,463.15 at the end of 2019, compared to ¥5,700,570,813.99 at the end of 2018[23]. - The basic earnings per share for 2019 was ¥0.6040, a 69.95% increase from ¥0.3554 in 2018[23]. - The net cash flow from operating activities was negative at -¥60,427,657.62, a decline of 164.42% compared to ¥93,797,363.32 in 2018[23]. - The company reported a total of ¥15,576,141.60 in non-recurring gains for 2019, compared to ¥18,193,521.68 in 2018[29]. - The weighted average return on net assets for 2019 was 9.10%, an increase of 3.31% from 5.79% in 2018[23]. - In 2019, the company achieved operating revenue of CNY 1,933.34 million, an increase of 150.52% compared to the previous year, with net profit attributable to shareholders rising by 72.31% to CNY 289.90 million[52]. - The company reported a total cash dividend of 30,976,608 CNY for the fiscal year, representing 100% of the profit distribution[116]. Business Expansion and Strategy - The company is actively exploring new business projects in emerging sectors, although these may take time to yield expected benefits[5]. - The company is focused on enhancing its technical capabilities and management levels to maintain competitiveness in a rapidly evolving market[7]. - The company expanded its business into organic solid waste disposal and resource utilization, as well as high-end environmental technology and equipment manufacturing[31]. - The company is actively pursuing investments and acquisitions to diversify its presence in the environmental industry chain[31]. - The company aims to increase urban sludge treatment facility investments to over 30 billion RMB during the "13th Five-Year Plan" period, representing a 2 to 3 times increase compared to current levels[42]. - The company is developing new products such as prefabricated sewage treatment plants and integrated organic waste fermentation devices, which are expected to support future business expansion[57]. - The company plans to focus on traditional water projects, rural sewage treatment, and emergency governance projects, leveraging its competitive advantages in these areas[109]. - The company intends to explore investment and acquisition opportunities by evaluating target companies based on management quality, development potential, and profit scale[111]. Risk Management - The company faces risks related to project delays and budget overruns due to changes in national industrial policies and macroeconomic conditions, particularly in solid waste treatment and ecological environment governance[5]. - There is a risk of water treatment quality issues due to factors such as influent water quality and equipment operation, which could lead to regulatory penalties[9]. - The company has a low likelihood of bad debts due to its customer base primarily consisting of government departments and large state-owned enterprises, but the risk increases with business scale expansion[10]. - The company is committed to strengthening its internal controls and cash flow management to mitigate risks associated with rapid growth[10]. Competition and Market Environment - Intense competition is present in urban sewage treatment and comprehensive environmental services, with numerous competitors in various segments of the market[6]. - The company operates in a market with increasing government investment in environmental protection, which may lead to more competition from large state-owned enterprises[7]. - The wastewater treatment investment has been rapidly increasing, particularly in economically developed coastal cities, indicating a growing market opportunity[40]. Research and Development - The company has developed multiple patents for specialized environmental water treatment equipment, including biological reactors and screening devices[35]. - Significant R&D projects include the development of a one-stop screw press dewatering machine for sludge treatment, aimed at improving efficiency and reducing costs[75]. - The company is conducting research on high-temperature aerobic fermentation technology to produce bio-organic fertilizers from organic solid waste[75]. - The company achieved a total of 34 patents in 2019, including 33 utility model patents[79]. - Research and development investment in 2019 amounted to ¥24,055,482.67, representing 1.24% of operating revenue, an increase from 1.12% in 2017[83]. Environmental Compliance - The company is committed to adhering to the GB18918-2002 Class A standards for wastewater discharge[175]. - The company has established a maximum allowable limit for COD at 4,380 tons per year, with actual emissions reported at 1,071.61 tons[176]. - The company operates multiple wastewater treatment plants, each adhering to strict discharge standards, including NH3-N and TP limits[177]. - The company has established an emergency response plan for sudden environmental incidents[180]. - Continuous monitoring of effluent quality is conducted through the implementation of the Environmental Self-Monitoring Plan[181]. Shareholder and Corporate Governance - The company has committed to not transferring shares for 12 months post-IPO and limits annual share transfers to 25% of holdings during the tenure[130]. - The company will publicly disclose reasons for any unfulfilled commitments and apologize to shareholders and the public[132]. - The company has confirmed that all commitments made to minority shareholders have been fulfilled on time[143]. - The company will ensure that any gains from unfulfilled commitments are returned to the company within five working days[133]. - The company has made commitments to protect investor interests and minimize losses in case of non-fulfillment of public commitments[140].

鹏鹞环保股份有限公司 2020 年第一季度报告全文 鹏鹞环保股份有限公司 2020 年第一季度报告 2020-054 2020 年 04 月 1 鹏鹞环保股份有限公司 2020 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人王洪春、主管会计工作负责人吴艳红及会计机构负责人(会计主 管人员)吕倩倩声明：保证季度报告中财务报表的真实、准确、完整。 2 鹏鹞环保股份有限公司 2020 年第一季度报告全文 第二节 公司基本情况 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 | | --- | --- | --- | --- | | 营业总收入（元） | 330,115,889.27 | 309,010,254.20 | 6.83% | | 归属于上市公司股东的净利润（元） | 63,142,397.97 | 50,437 ...

Financial Performance - Operating revenue for the reporting period was ¥374,452,691.17, representing a significant increase of 203.16% year-on-year[9]. - Net profit attributable to shareholders of the listed company was ¥69,655,325.26, up 57.51% compared to the same period last year[9]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥64,359,634.20, an increase of 46.12% year-on-year[9]. - Basic earnings per share for the reporting period were ¥0.1451, reflecting a growth of 57.55% compared to the previous year[9]. - The weighted average return on net assets was 2.19%, an increase from 0.71% in the previous year[9]. - Net profit for Q3 2019 was ¥70,400,301.80, up from ¥43,811,534.74 in Q3 2018, reflecting a growth of approximately 60.7%[38]. - The company reported a year-to-date net profit of ¥191,447,340.67, up from ¥149,184,410.60 in the same period last year, showing an increase of about 28.4%[46]. - Basic earnings per share for the year-to-date period were ¥0.3965, compared to ¥0.3155 in the previous year, reflecting an increase of approximately 25.7%[46]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥5,768,501,052.68, an increase of 1.19% compared to the end of the previous year[9]. - Total liabilities decreased from CNY 2,471,265,119.46 to CNY 2,304,317,661.26, a reduction of approximately 6.7%[29]. - Total equity increased from CNY 3,229,305,694.53 to CNY 3,464,183,391.42, representing a growth of about 7.3%[30]. - Current assets decreased from CNY 2,265,945,617.16 to CNY 1,952,511,724.44, a decline of approximately 13.8%[27]. - Total non-current assets rose from CNY 3,434,625,196.83 to CNY 3,815,989,328.24, an increase of about 11.1%[28]. - The company's total liabilities amounted to ¥1,395,713,481.24, slightly up from ¥1,392,108,861.85 in the previous year[35]. - The company's total assets were CNY 5,700,570,813.99, showing a slight decrease of CNY 19,440,126.14[63]. Cash Flow - The net cash flow from operating activities was negative at -¥302,022,312.92, a decline of 560.27% year-on-year[9]. - Cash inflow from operating activities totaled ¥888,747,378.52, up from ¥593,294,611.08, marking an increase of about 49.9%[54]. - Cash flow from investing activities generated a net inflow of ¥299,389,927.47, compared to a net outflow of ¥205,710,651.42 in the previous period[54]. - Cash flow from financing activities resulted in a net outflow of ¥238,914,273.82, contrasting with a net inflow of ¥913,036,005.83 previously[54]. - The ending cash and cash equivalents balance decreased to ¥465,502,153.43 from ¥1,062,273,935.21, a decline of approximately 56.2%[54]. - Cash inflow from other operating activities was 291,957,862.07 RMB, compared to 98,228,989.78 RMB in the same period last year[57]. Shareholder Information - The company reported a total of 28,134 common shareholders at the end of the reporting period[13]. - The largest shareholder, Yixing Pengyao Investment Co., Ltd., held 30.10% of the shares, amounting to 144,468,100 shares[13]. Investment and Expenses - The company’s investment income rose by 541.20% to ¥5.15 million, mainly from financial management income[17]. - Research and development expenses for the quarter were ¥8,483,358.87, up from ¥6,503,289.52 in Q3 2018, indicating a growth of about 30.5%[37]. - Financial expenses surged to ¥28,990,145.75 compared to ¥5,801,299.39 in the previous period, indicating a significant increase[49]. - The company recorded an investment income of ¥1,420,107.33 for Q3 2019, compared to ¥1,338,734.58 in Q3 2018, showing a modest increase[41]. Other Financial Metrics - The company reported a 685.03% increase in credit impairment losses to ¥7.03 million, attributed to an increase in accounts receivable[17]. - The company’s goodwill increased to ¥8.71 million due to acquisitions of other enterprises[17]. - The deferred income increased by 942.97% to ¥9.64 million, primarily due to acquisitions of other enterprises[17]. - The company's retained earnings increased by CNY 24,589,531.39 due to adjustments in the expected credit loss model[63].

Financial Performance - Total revenue for the first half of 2019 reached ¥675,316,877.98, representing a 68.08% increase compared to ¥401,777,063.09 in the same period last year[20]. - Net profit attributable to shareholders was ¥120,686,812.48, up 15.57% from ¥104,424,257.14 year-on-year[20]. - Basic earnings per share increased to ¥0.2514, reflecting a growth of 12.33% from ¥0.2238 in the same period last year[20]. - The company’s revenue is driven by providing water treatment project management services, engineering contracting, equipment sales, and solid waste treatment services[32]. - The company’s engineering contracting revenue increased by 184.13% year-on-year, reaching RMB 345.64 million[42]. - The company’s equipment sales revenue grew by 22.52% year-on-year, amounting to RMB 68.19 million[42]. - The company reported a net profit of CNY 124.4 million, reflecting a growth of 12% compared to the same period last year[70]. - The gross margin for the environmental technology segment improved to 30%, up from 25% in the previous year[69]. Cash Flow and Financial Position - The net cash flow from operating activities was negative at ¥217,370,064.96, a decline of 556.85% compared to a negative cash flow of ¥33,092,661.40 in the previous year[20]. - The net cash flow from investment activities improved to ¥87,089,035.58, a 119.13% increase from -¥455,347,409.97 in the previous period, primarily due to the redemption of purchased financial products[48]. - The company reported a net increase in cash and cash equivalents of -¥314,103,249.76, a decrease of 191.28% compared to the previous year[48]. - The total assets at the end of the reporting period included cash and cash equivalents of ¥412,044,900.34, which accounted for 7.22% of total assets, down from 15.51% in the previous year[53]. - The company’s long-term borrowings decreased to ¥632,454,250.48, a reduction of 5.65% due to loan repayments[53]. - The company reported a decrease in short-term borrowings to CNY 439,000,000.00 from CNY 472,000,000.00, a reduction of about 7%[147]. - The company’s total current assets decreased to CNY 1,993,393,114.23 from CNY 2,265,945,617.16, representing a decline of approximately 12%[146]. Investments and Acquisitions - The company completed the acquisition of Jiangsu Chenjie Recycling Technology Co., Ltd. and established several cooperative project companies[43]. - The company made significant equity investments totaling CNY 533,672,000 during the reporting period, with a net loss of CNY 1,771,800[57]. - The company reported a loss of CNY 250,217,000 from its investment in Changsha Pengyao Wastewater Treatment Co., Ltd., which holds a 100% stake[57]. - The company is exploring potential acquisitions to enhance its capabilities in wastewater treatment and solid waste management[70]. Operational Strategy and Market Focus - The company is focused on expanding its market presence and enhancing its operational capabilities through strategic initiatives[20]. - The company focuses on the environmental water treatment sector, providing a full range of services including R&D, consulting, design, equipment production, sales, engineering contracting, project investment, and operation management[27]. - The company is actively expanding into new business areas such as organic solid waste disposal and resource utilization, enhancing its diversified layout in the environmental industry[27]. - Recent government policies have created a favorable environment for the environmental protection industry, enhancing the company's growth opportunities[35]. Legal and Compliance Issues - A significant lawsuit involving an amount of 76.2 million yuan is currently in the second-instance trial[83]. - The company is currently involved in legal disputes with multiple parties, including a construction contract dispute with Haikou Longchang Dadi Construction Engineering Co., amounting to 85.51 million yuan, which is still under trial[86]. - The company has outstanding payments totaling 575.3739 million yuan related to a contract dispute[85]. - The company has not reported any fundraising activities during the reporting period[61]. Environmental Impact and Compliance - The total wastewater discharge for the company was 9.05 million tons, with a total of 7.2 million tons treated[107]. - The company has multiple wastewater treatment plants, with specific pollutant discharge standards met, including COD and ammonia nitrogen levels[107]. - The company is focused on continuous improvement in wastewater treatment processes to enhance compliance with environmental regulations[108]. - The company has established a continuous monitoring system for effluent quality, connecting to provincial control platforms or utilizing qualified third-party monitoring[113]. Shareholder and Equity Information - The total number of shares before the change was 480,000,000, with a post-change total of 480,000,000, indicating no net change in total shares[122]. - The largest shareholder, Yixing Pengyao Investment Co., Ltd., holds 30.10% of shares, totaling 144,468,100 shares[128]. - The company has not undergone any changes in controlling shareholders or actual controllers during the reporting period[131]. - The total number of common shareholders at the end of the reporting period is 33,103[128]. Research and Development - The company has a systematic capability for R&D, design, and production of specialized environmental water treatment equipment, holding multiple patents in this area[28]. - Research and development expenses rose by 65.94% to ¥5,987,018.23, attributed to the inclusion of new subsidiaries in the consolidation scope[48]. - The company is actively involved in the research and development of environmental technologies and solutions[59]. - New product development in environmental pollution prevention technology is a key strategy for the company moving forward[68].

Financial Performance - The company's operating revenue for 2018 was ¥771,743,080.77, a decrease of 4.45% compared to ¥807,676,980.65 in 2017[22]. - The net profit attributable to shareholders for 2018 was ¥168,243,158.50, down 23.29% from ¥219,322,071.71 in 2017[22]. - The net profit after deducting non-recurring gains and losses was ¥150,049,636.82, a decline of 28.18% from ¥208,927,595.47 in 2017[22]. - The net cash flow from operating activities increased by 46.30% to ¥93,797,363.32 from ¥64,113,424.37 in 2017[22]. - The total assets at the end of 2018 were ¥5,700,570,813.99, representing a 45.63% increase from ¥3,914,530,618.73 at the end of 2017[22]. - The net assets attributable to shareholders increased by 36.05% to ¥3,024,586,134.78 from ¥2,223,064,830.85 at the end of 2017[22]. - The basic earnings per share for 2018 were ¥0.3554, a decrease of 35.18% from ¥0.5483 in 2017[22]. - The weighted average return on net assets was 5.79%, down from 10.38% in 2017[22]. - The company reported a total of ¥18,193,521.68 in non-recurring gains and losses for 2018, compared to ¥10,394,476.24 in 2017[28]. - In 2018, the company achieved operating revenue of 771.74 million yuan, a decrease of 35.93 million yuan compared to the previous year[54]. - The net profit for 2018 was 165.38 million yuan, down 51.42 million yuan year-on-year, with a comprehensive profit margin of 21.43%, lower than 26.84% in 2017[54]. Market and Competition - The company is experiencing intensified competition in urban sewage treatment and comprehensive environmental services, with numerous competitors in various segments[7]. - The company is expanding its market presence in solid waste and ecological sectors, although this requires time for market cultivation[6]. - The company has a market share of 0.42% in municipal water supply, with a total scale of 40,000 tons/day[45]. - In municipal wastewater treatment, the company holds a market share of 0.87%, with a total scale of 77,000 tons/day[46]. - The company is focused on enhancing its management systems and internal controls to mitigate risks associated with rapid growth[8]. Strategic Initiatives - The company is exploring strategic partnerships and potential mergers and acquisitions to strengthen its market position[6]. - The company is actively involved in the development of new technologies and products in the environmental protection sector[6]. - The company has established a mature procurement model with a qualified supplier database and regular evaluations[36]. - The company is focusing on developing integrated treatment technologies for organic solid waste, including kitchen waste and livestock manure[75]. - The company aims to enhance its consulting services in environmental technology and project evaluation, targeting growth in the service sector[96]. Environmental Commitment - The company is committed to maintaining water treatment quality despite challenges from incoming water quality and operational issues[7]. - The company focuses on providing comprehensive services in the environmental water treatment sector, including R&D, consulting, design, equipment production, and project management[38]. - The company has implemented continuous monitoring of effluent quality to ensure compliance with environmental regulations[188]. - The overall performance in pollutant reduction has shown a commitment to sustainable practices in wastewater management[188]. - The company has established an emergency response plan for environmental incidents and is actively monitoring effluent quality through a self-monitoring scheme[191]. Investment and Growth - The company reported a significant increase in investment activity cash outflow by 2,692.29% year-on-year, primarily due to increased external investments[87]. - The company plans to expand its market presence through new product development and strategic partnerships in the environmental technology sector[96]. - The company is focusing on utilizing self-owned funds for investment in energy-saving projects, indicating a strategic shift towards sustainable practices[96]. - The company has committed to ongoing monitoring and reporting of environmental performance to the public, enhancing transparency and accountability[192]. - The company is actively pursuing market expansion through the establishment of new subsidiaries, including those focused on solid waste treatment and air pollution control[113]. Shareholder Relations - The company reported a cash dividend distribution plan based on a base of 480,000,000 shares, proposing a cash dividend of 0.35 CNY per 10 shares (including tax) and no bonus shares[10]. - The company has a cash dividend policy that requires at least 80% of profits to be distributed as cash dividends during its mature stage[130]. - The cash dividend amount was 16,800,000.00, representing 9.99% of the net profit attributable to ordinary shareholders[133]. - The company will actively accept social supervision regarding its public commitments made during the IPO process[140]. - The company will ensure that any gains from unfulfilled commitments will be returned to the company[141]. Operational Challenges - The company faces risks related to project delays, budget overruns, and cash flow issues due to potential changes in national industrial policies and macroeconomic conditions[6]. - The company has a low risk of bad debts due to its customer base primarily consisting of government departments and large state-owned enterprises, but expanding accounts receivable could pose cash flow challenges[8]. - The company reported a significant increase in sludge treatment costs, which rose by 385.70% to ¥41,142,392.06[67]. - The company has identified instances of illegal discharge from upstream enterprises, impacting water quality[188]. - The company is focusing on enhancing its wastewater treatment capacity to address increasing environmental regulations and standards[188].