证券代码：300664 证券简称：鹏鹞环保 投资者关 ☑特定对象调研 □分析师会议 系活动类 □媒体采访 □业绩说明会 别 □新闻发布会 □路演活动 □现场参观 □其他 （请文字说明其他活动内容） 鹏鹞环保股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | --- | |----------|--------------------|-------------------------------------------|--------|--------------| | | | | | | | | 姓名 | 单位 | 姓名 | 单位 | | 参与单位 | 谢笑妍 | 招商证券 | 于振佳 | 建信基金 | | 名称 | 宋盈盈 | 招商证券 | 王达 | 前海开源基金 | | | 陈东飞 | 招商证券 | 郑翰 | 前海开源基金 | | | 毛祖宏 | 新华资管 | | | | | 李业彬 | 建信保险资管 | | | | | 杨林夕 | 华泰保险资管 | | | | | | | | | | 时间 | 2020 年 2 月 | 12 日下午 4:30- 5:45 | | ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥614,183,542.63, representing a 9.80% increase year-over-year[5]. - The net profit attributable to shareholders for Q3 2022 was ¥96,369,502.38, a decrease of 6.61% compared to the same period last year[5]. - Total operating revenue for the current period is ¥1,556,610,507.27, a slight decrease from ¥1,562,965,715.35 in the previous period, representing a decline of approximately 0.3%[18]. - Operating profit for the current period is ¥379,793,314.83, up from ¥361,822,353.49, reflecting an increase of approximately 5%[19]. - Net profit for the current period is ¥290,891,581.10, compared to ¥288,502,138.21 in the previous period, indicating a growth of about 0.8%[19]. - Basic and diluted earnings per share increased to ¥0.4051 from ¥0.3976, showing an improvement of approximately 1.9%[19]. Assets and Liabilities - The total assets at the end of the reporting period were ¥7,623,994,264.89, reflecting a 7.74% increase from the end of the previous year[5]. - As of September 30, 2022, total assets reached CNY 7,623,994,264.89, an increase from CNY 7,076,466,700.91 at the beginning of the year[14]. - Total liabilities amounted to CNY 3,434,331,582.76, compared to CNY 3,140,115,011.83 at the beginning of the year, reflecting an increase of approximately 9.4%[16]. - The company's total equity increased to CNY 4,189,662,682.13 from CNY 3,936,351,689.08, showing a growth of approximately 6.4%[16]. Cash Flow - The cash flow from operating activities showed a net outflow of ¥18,570,265.79, which is an improvement of 92.65% compared to the previous year[9]. - Cash inflow from operating activities totaled ¥1,907,841,091.99, compared to ¥1,354,874,330.55 in the previous period, representing an increase of about 40.6%[20]. - Cash flow from investing activities yielded a net inflow of ¥2,924,757.87, a significant improvement from a net outflow of ¥88,598,387.92 in the previous period[20]. - Cash flow from financing activities resulted in a net inflow of ¥219,197,759.22, slightly up from ¥215,727,548.09 in the previous period[21]. - The ending cash and cash equivalents balance increased to ¥613,351,312.10 from ¥526,627,396.11, reflecting a growth of approximately 16.5%[21]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 39,482, with the largest shareholder holding 30.55% of the shares[11]. Research and Development - Research and development expenses decreased by 34.61% to ¥14,939,653.49 due to a reduction in ongoing projects[9]. Investments - Investment income surged by 772.63% to ¥35,338,718.86, primarily due to the sale of a subsidiary[9]. Construction and Inventory - The company reported a significant increase in construction in progress, rising by 683.31% to ¥229,013,473.78, indicating expansion efforts[9]. - The inventory decreased to CNY 141,818,606.18 from CNY 227,269,616.43, indicating a reduction of about 37.6%[14]. Borrowings - The company experienced a 56.07% increase in short-term borrowings, totaling ¥1,056,187,281.89, indicating increased leverage[9]. - Short-term borrowings rose significantly to CNY 1,056,187,281.89 from CNY 676,742,473.32, marking an increase of about 56.0%[16]. - The long-term borrowings decreased slightly to CNY 671,931,782.30 from CNY 717,909,213.61, indicating a decline of approximately 6.4%[16]. Accounts Receivable and Prepayments - The accounts receivable increased to CNY 919,683,666.33 from CNY 894,735,068.94, reflecting a growth of approximately 2.8%[14]. - The company reported a significant increase in prepayments, which rose to CNY 117,603,252.26 from CNY 78,741,570.83, representing a growth of about 49.2%[14]. Audit Status - The third quarter report of Pengyao Environmental Protection Co., Ltd. is unaudited[22].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥942,426,964.64, a decrease of 6.09% compared to ¥1,003,595,304.05 in the same period last year[22]. - Net profit attributable to shareholders increased by 6.30% to ¥192,311,371.82 from ¥180,914,797.14 year-on-year[22]. - The company reported a decrease of 12.43% in net profit after deducting non-recurring gains and losses, amounting to ¥157,525,209.72 compared to ¥179,885,046.47 in the previous year[22]. - Basic and diluted earnings per share rose by 6.40% to ¥0.2693 compared to ¥0.2531 in the previous year[22]. - The company's operating costs decreased by 2.44% to approximately CNY 634.22 million, while sales expenses dropped by 25.93% to CNY 10.53 million[42]. - The company reported a net profit impact of ¥19,785,913.72 from the equity transfer of Pengyao (Yixing) Environmental Equipment Intelligent Manufacturing Park Co., Ltd.[63]. - The company reported a total revenue of 27.5 million yuan for the first half of 2022, reflecting a year-on-year increase of 31.31%[93]. - The net profit attributable to shareholders for the first half of 2022 was 714 million yuan, representing a year-on-year increase of 4.8%[161]. - The total revenue for the first half of 2022 was 1,034 million yuan, representing a year-on-year increase of 39.4%[165]. - The net profit attributable to shareholders for the same period was 516.2 million yuan, an increase of 72.34% compared to the previous year[165]. Cash Flow and Investments - The net cash flow from operating activities improved significantly, with a net outflow of ¥126,512,926.32, a 62.85% reduction from the previous year's outflow of ¥340,530,038.07[22]. - The net cash flow from financing activities surged by 738.16% to CNY 239.79 million, mainly due to increased borrowings[42]. - The company reported a significant increase in cash inflow from borrowings, which rose to 845,000,000.00 CNY from 265,000,000.00 CNY[155]. - The cash outflow for debt repayment was 444,315,000.00 CNY, compared to 144,315,000.00 CNY in the previous period, indicating increased debt servicing[155]. - The company reported a cash and cash equivalents balance of CNY 483,676,504.26 at the end of the first half of 2022, up from CNY 319,928,540.35 at the end of the first half of 2021[153]. Assets and Liabilities - Total assets at the end of the reporting period increased by 2.71% to ¥7,268,012,116.25 from ¥7,076,466,700.91 at the end of the previous year[22]. - The company's total liabilities increased to CNY 3,177,610,910.77 from CNY 3,140,115,011.83, which is an increase of approximately 1.2%[139]. - The company's short-term borrowings increased to ¥1,053,271,590, which is 14.49% of total assets, up from 9.56%[48]. - The company's total liabilities included long-term borrowings of ¥671,558,946, which is 9.24% of total assets, down from 10.15%[48]. - The company's total equity attributable to shareholders reached CNY 3,935,953,853.86, up from CNY 3,789,456,071.59, representing an increase of about 3.9%[139]. Business Operations and Strategy - The company focuses on the environmental water treatment sector, providing a comprehensive range of services including R&D, consulting, design, equipment production, sales, engineering contracting, project investment, and operation management[30]. - The company operates under several business models including BOT, BT, TOT, PPP, and entrusted operation, enhancing its operational flexibility and revenue generation[34]. - The company’s revenue model includes water treatment service fees, engineering service income, equipment sales, and solid waste processing fees, ensuring diversified income streams[34]. - The company has completed over 1,300 water treatment projects, enhancing its brand recognition and market competitiveness[38]. - The company has initiated a strategic acquisition plan aimed at enhancing its competitive edge in the environmental protection sector[165]. Environmental Compliance and Risks - The company has outlined potential risks and corresponding mitigation strategies in the management discussion section of the report[3]. - 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[65]. - The company faces investment risks due to potential delays in project progress and budget overruns influenced by national policies and market conditions[64]. - The company is experiencing intensified competition in urban sewage treatment and industrial wastewater treatment sectors, with numerous competitors enhancing their technical capabilities[64]. - The company has implemented measures to reduce carbon emissions, contributing to environmental sustainability[82]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[4]. - The total number of shares decreased from 714,244,800 to 709,337,075 due to the repurchase and cancellation of 4,907,725 restricted shares[117]. - The largest shareholder, Yixing Pengyao Investment Co., Ltd., holds 30.55% of the shares, totaling 216,702,150 shares[124]. - The total number of common shareholders at the end of the reporting period is 40,274[123]. - The company has not undergone any changes in its controlling shareholder during the reporting period[127]. Legal Matters - The company reported a total liability of 13,544.06 million yuan related to a lawsuit against the Huangshan Xunying County People's Government, with a judgment requiring payment of 251.53 million yuan plus interest[91]. - The company is involved in multiple lawsuits, including a claim of 3,490.59 million yuan against Zhongyuan Water and a claim of 1,863.23 million yuan against a construction group, both of which are currently in litigation[92]. - The company has ongoing litigation with a total claim amount of 1,781.05 million yuan against a construction company, which is currently under review[92]. - The company faced a penalty of 200,000 yuan due to violations related to wastewater discharge, with a commitment to pay by November 30, 2022[95]. Research and Development - Research and development investment decreased by 37.88% to CNY 8.53 million, primarily due to a reduction in ongoing R&D projects[42]. - The research and development expenses for the first half of 2022 were CNY 8,532,424.87, down 37.5% from CNY 13,734,563.20 in the previous year[145]. - The company aims to enhance operational efficiency by implementing new technologies and optimizing existing processes[161]. - The company plans to expand its market presence through new product development and strategic partnerships in the upcoming quarters[161]. Compliance and Governance - The semi-annual financial report was not audited[88]. - The financial statements reflect the company's financial position, operating results, and cash flows accurately and completely, in compliance with accounting standards[179]. - The company has established methods for accounting treatment of business combinations under common control and non-common control[183][184]. - The company believes it has sufficient operating funds to continue as a going concern for at least 12 months from the approval date of the financial statements[177].

Financial Performance - The company's revenue for Q1 2022 was CNY 429,329,246.61, representing a 7.37% increase compared to CNY 399,852,930.83 in the same period last year[3] - Net profit attributable to shareholders decreased by 2.37% to CNY 71,859,999.62 from CNY 73,605,551.75 year-on-year[3] - Total operating revenue for Q1 2022 was CNY 429.33 million, an increase of 7.4% compared to CNY 399.85 million in Q1 2021[16] - Net profit for Q1 2022 was CNY 72.07 million, a decrease of 5.2% from CNY 76.46 million in Q1 2021[18] - The total comprehensive income for the first quarter of 2022 was CNY 72,065,402.02, compared to CNY 76,464,907.12 in the previous period, reflecting a decrease of approximately 5.2%[19] Cash Flow - The net cash flow from operating activities improved significantly, showing a net inflow of CNY -10,836,011.43, a 90.11% increase from CNY -109,542,263.16 in the previous year[3] - Cash inflow from operating activities totaled CNY 755,906,233.74, an increase of approximately 54.5% compared to CNY 489,301,935.87 in the previous period[21] - Cash inflow from investing activities was CNY 37,790,213.26, significantly higher than CNY 148,862.91 in the previous period[22] - The net cash flow from investing activities improved to CNY 13,632,584.84, compared to CNY -78,202,748.13 in the previous period[22] - Cash inflow from financing activities was CNY 405,800,000.00, up from CNY 220,040,000.00 in the previous period, marking an increase of approximately 84.3%[22] - The net cash flow from financing activities decreased to CNY 83,351,981.04 from CNY 136,986,613.12 in the previous period[22] - The ending balance of cash and cash equivalents was CNY 495,947,615.25, down from CNY 601,436,523.69 in the previous period[23] Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,146,674,494.24, up 0.99% from CNY 7,076,466,700.91 at the end of the previous year[3] - The company's total assets increased to CNY 7.15 billion in Q1 2022, compared to CNY 7.08 billion in Q1 2021, reflecting a growth of 1.0%[15] - The company's total liabilities decreased slightly to CNY 3.13 billion in Q1 2022 from CNY 3.14 billion in Q1 2021[14] Shareholder Information - Shareholders' equity attributable to the parent company increased by 1.90% to CNY 3,861,316,071.21 from CNY 3,789,456,071.59[3] - The total number of ordinary shareholders at the end of the reporting period was 40,739[8] Earnings and Expenses - The basic earnings per share for Q1 2022 was CNY 0.1006, down 2.33% from CNY 0.1030 in the same period last year[3] - The weighted average return on equity decreased to 1.88% from 2.07% year-on-year[3] - Research and development expenses for Q1 2022 were CNY 4.18 million, down 36.7% from CNY 6.61 million in Q1 2021[16] - The company reported an investment income of CNY 14.68 million in Q1 2022, a significant increase from CNY 0.49 million in Q1 2021[16] Compliance and Penalties - A penalty of CNY 340,000 was imposed on a subsidiary due to non-compliance with wastewater treatment standards[10] Audit Information - The company did not conduct an audit for the first quarter report[23]

Financial Performance - The company's operating revenue for 2021 was CNY 2,093,114,360, a decrease of 1.50% compared to CNY 2,124,923,263 in 2020[25]. - The net profit attributable to shareholders for 2021 was CNY 311,491,790.43, representing a decline of 19.25% from CNY 385,738,524.06 in 2020[25]. - The net cash flow from operating activities was negative CNY 207,808,439.9, a significant decrease of 171.42% compared to CNY 290,952,867.64 in 2020[25]. - The total assets at the end of 2021 amounted to CNY 7,076,466,700, reflecting a growth of 5.53% from CNY 6,705,715,735 at the end of 2020[25]. - The weighted average return on equity for 2021 was 8.53%, down from 11.50% in 2020, indicating a decrease of 2.97%[25]. - The company reported a basic earnings per share of CNY 0.4436 for 2021, which is an 18.72% decrease from CNY 0.5458 in 2020[25]. - The company achieved a gross margin of 61.94% in wastewater treatment, despite a slight decrease from the previous year[61]. - The overall operating revenue for 2021 was approximately 2.09 billion CNY, a decrease of 1.50% compared to 2020[58]. - The investment operation business saw a revenue increase of 12.39%, contributing 731 million CNY, while engineering contracting revenue decreased by 10.01% to 922 million CNY[58]. Dividend and Profit Distribution - The company reported a profit distribution plan to distribute a cash dividend of 0.65 CNY per 10 shares, based on a total of 709,337,550 shares[11]. - The total distributable profit for the year was RMB 516,213,850.60, indicating a strong profitability position[135]. - The company distributed a cash dividend of RMB 0.65 per 10 shares, totaling RMB 46,106,940.75, which represents 100% of the profit distribution amount[134]. - The company's cash dividend policy aligns with its articles of association and adequately protects minority shareholders' rights[134]. - The company is in a mature development stage with no significant capital expenditure plans, allowing for a high cash dividend payout ratio[135]. Market and Competitive Landscape - The company is experiencing intensified competition in urban sewage treatment and comprehensive environmental services, with many 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]. - The company anticipates increased investment opportunities in the wastewater treatment sector due to rising environmental protection standards and government policies[34]. - The market for recycled water utilization is expected to expand as the current utilization rate remains low, indicating potential growth in this sector[34]. - The company is focused on expanding its market presence and enhancing its product offerings in the environmental protection sector[113]. Operational Challenges and Risks - The company faces risks related to project delays and budget overruns 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 is focused on enhancing its management practices to mitigate risks associated with rapid growth and cash flow management[10]. - 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 maintains a low asset liability ratio and good cash flow, contributing to rapid growth in revenue and net profit in recent years[36]. Research and Development - The company is actively involved in new product development, including innovative wastewater treatment systems using stainless steel materials[18]. - The company is developing a new integrated wastewater treatment system to improve efficiency and reduce costs[74]. - The company is utilizing GPS-X simulation software to optimize wastewater treatment processes[74]. - Research on algae control technology aims to enhance the operational level of wastewater treatment plants[74]. - The company's R&D investment amounted to ¥31,264,450.89 in 2021, representing 1.49% of total revenue, a decrease from 1.77% in 2020[76]. Environmental Compliance - The company is committed to strict compliance with environmental discharge standards, including GB18918-2002 Class A standards[149]. - The company has implemented advanced treatment technologies to ensure emissions are within regulatory limits[150]. - The company aims to enhance its environmental compliance and reduce emissions in future operations[147]. - The wastewater treatment plants maintained good operational performance, contributing significantly to local water environment improvement and energy conservation efforts[154]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[146]. Corporate Governance and Management - The company maintains complete independence from its controlling shareholders in terms of assets, personnel, finance, organization, and business operations[104]. - The company has established an independent financial accounting system and does not share bank accounts with its controlling shareholders, confirming financial independence[105]. - The company has a strong management team with diverse backgrounds, including expertise in environmental engineering and finance[112]. - The financial team is led by CFO Lv Qianqian, who has been with the company since 2007, ensuring robust financial management practices[116]. - The company is committed to maintaining transparency and accountability in its governance practices[115]. Legal and Regulatory Matters - The company faced significant litigation, with a total claim amounting to approximately 13,544.06 million yuan related to a water treatment service fee dispute[189]. - The company is currently involved in several ongoing legal cases, with claims amounting to 6,980.9 million yuan related to a loan guarantee dispute, which has been withdrawn[191]. - The company has resolved multiple legal disputes, including a payment of 36.35 million yuan related to a construction contract, which has been fully paid[190]. - The company continues to monitor its legal exposure and is taking steps to mitigate risks associated with ongoing litigation[192]. - There were no related party transactions associated with daily operations during the reporting period[195]. Strategic Initiatives - The company aims to transform into an investment operation and service-oriented enterprise in 2022, focusing on a new business model of "industry + investment + platform"[94]. - The company plans to expand its traditional water supply and sewage treatment projects, leveraging its financial advantages and comprehensive service capabilities[95]. - The company intends to adopt an "investment + product + process + service" model for solid waste projects, targeting high upfront fee projects to enhance project profitability[96]. - The establishment of the environmental supply and marketing platform is a key strategic move to enhance the company's competitiveness and create a new ecosystem in the environmental industry[98]. - The company is actively pursuing market expansion and new product development strategies, although specific figures were not disclosed in the report[192].

Financial Performance - The company's revenue for Q3 2021 was ¥559,370,411.30, representing a year-on-year increase of 2.77%[3] - Net profit attributable to shareholders decreased by 15.20% to ¥103,189,237.34 in Q3 2021[3] - The net profit excluding non-recurring gains and losses was ¥101,053,535.68, down 13.61% compared to the same period last year[3] - The basic earnings per share for Q3 2021 was ¥0.1445, a decrease of 15.10% year-on-year[3] - The weighted average return on equity was 2.77%, down 0.91% compared to the same period last year[3] - The total operating revenue for the third quarter of 2021 was CNY 1,562,965,715.35, an increase from CNY 1,328,338,217.33 in the same period last year[15] - The net profit for the third quarter was CNY 288,502,138.21, slightly down from CNY 291,663,145.69 in the previous year[16] - The profit attributable to the parent company's shareholders was CNY 284,104,034.48, compared to CNY 274,622,026.95 in the same quarter last year[17] Assets and Liabilities - The total assets at the end of Q3 2021 reached ¥7,399,807,723.95, an increase of 10.35% from the end of the previous year[3] - The company's total assets as of September 30, 2021, amounted to 2,672,309,149.71, up from 2,410,388,763.72 at the end of 2020[11] - The total assets increased to CNY 7,399,807,723.95 from CNY 6,705,715,735.11 year-on-year[13] - The total liabilities rose to CNY 3,384,181,494.12, up from CNY 2,927,382,569.74 in the previous year[13] - Total liabilities amounted to CNY 2,927,382,569.74, with current liabilities at CNY 2,026,010,587.56 and non-current liabilities at CNY 901,371,982.18[25] Cash Flow - The cash flow from operating activities was negative at -¥252,696,685.92, a decline of 34.10% year-to-date[3] - The company's cash flow from operating activities showed a net outflow of 252,696,685.92, worsening by 34.10% compared to the previous period[7] - Operating cash inflow for the current period was CNY 1,354,874,330.55, an increase of 25.9% from CNY 1,075,578,860.10 in the previous period[20] - Net cash outflow from operating activities was CNY -252,696,685.92, compared to CNY -188,437,566.99 in the previous period, indicating a worsening cash flow situation[20] - Cash inflow from investment activities decreased to CNY 93,533,895.03 from CNY 210,621,929.57, a decline of 55.6%[21] - Net cash outflow from investment activities was CNY -88,598,387.92, a significant drop from a net inflow of CNY 160,023,661.58 in the previous period[21] - Cash inflow from financing activities totaled CNY 707,733,895.00, slightly down from CNY 734,715,900.00 in the previous period[21] - Net cash inflow from financing activities improved to CNY 215,727,548.09 from CNY 11,534,766.49, showing a positive trend[21] Equity and Retained Earnings - The company's total equity attributable to shareholders increased by 7.52% to ¥3,780,710,979.63[4] - The total equity attributable to shareholders reached CNY 3,516,149,913.90, contributing to a total equity of CNY 3,778,333,165.37[26] - The company reported an unallocated profit of CNY 1,848,919,504.67, indicating strong retained earnings[26] Operational Metrics - Accounts receivable decreased by 33.72% to 20,364,303.46, primarily due to the maturity of commercial acceptance bills[7] - Prepayments increased by 141.24% to 74,556,463.11, mainly due to prepayments for goods[7] - Inventory rose by 33.59% to 148,081,035.63, attributed to an increase in equipment in production[7] - Contract assets increased by 43.61% to 686,388,979.60, driven by new engineering projects[7] - The company's income tax expense increased by 32.70% to 76,991,541.10, reflecting an increase in total profit[7] - Research and development expenses for the quarter were CNY 22,845,964.47, up from CNY 19,206,972.88 in the previous year[16] Financial Position and Audit - The company has a total of CNY 150,229,357.76 in taxes payable, which may impact cash flow management[25] - The report indicates a total of CNY 41,422,830.79 in contract liabilities, suggesting future revenue recognition[25] - The company has not undergone an audit for the third quarter report, which may affect stakeholder confidence[27]

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].

Financial Performance - The company's operating revenue for Q1 2021 was ¥399,852,930.83, representing a 21.13% increase compared to ¥330,115,889.27 in the same period last year[8] - Net profit attributable to shareholders was ¥73,605,551.75, up 16.57% from ¥63,142,397.97 year-on-year[8] - Basic earnings per share were ¥0.1030, reflecting a 16.25% increase from ¥0.0886 in the same period last year[8] - The company's main business revenue for Q1 2021 was CNY 399.85 million, an increase of CNY 69.74 million or 21.13% year-over-year[17] - The net profit attributable to ordinary shareholders for Q1 2021 was CNY 72.68 million, up CNY 10.04 million or 16.03% compared to the same period in 2020[17] - Net profit for Q1 2021 was CNY 76,464,907.12, compared to CNY 66,603,647.42 in the same period last year, reflecting a growth of approximately 12%[36] - The total comprehensive income attributable to the parent company is CNY 73,605,551.75, an increase from CNY 63,142,397.97 in the previous period[40] - The company has a total comprehensive income of CNY 76,464,907.12, compared to CNY 66,603,647.42 in the previous period, indicating overall growth despite net losses[40] Cash Flow and Liquidity - The net cash flow from operating activities was -¥109,542,263.16, a decrease of 66.12% compared to -¥65,939,695.28 in the previous year[8] - The cash flow from operating activities shows a net outflow of CNY -109,542,263.16, worsening from CNY -65,939,695.28 in the previous period[44] - Cash inflow from operating activities totaled 147,866,521.35 yuan, while cash outflow reached 262,578,663.53 yuan, resulting in a net cash outflow of 114,712,142.18 yuan[20] - The ending balance of cash and cash equivalents was 280,816,914.85 yuan, compared to 250,222,248.85 yuan in the previous period, showing a slight increase in liquidity[48] - The company reported a cash outflow of 50,000,000.00 yuan for debt repayment, down from 175,000,000.00 yuan in the previous period, indicating reduced debt servicing[48] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,860,790,737.51, a 2.31% increase from ¥6,101,203,484.96 at the end of the previous year[8] - As of March 31, 2021, total assets amounted to CNY 6.86 billion, compared to CNY 6.71 billion at the end of 2020[26] - Current liabilities totaled CNY 2.11 billion as of March 31, 2021, an increase from CNY 2.03 billion at the end of 2020[28] - The company's total liabilities were CNY 1,959,910,938.33, compared to CNY 1,766,161,301.84 in the previous period, showing an increase of approximately 11%[32] - The company's total assets as of March 31, 2021, were CNY 4,243,798,481.18, an increase from CNY 4,053,018,937.67 at the end of 2020[32] Shareholder Information - The company had a total of 48,014 common shareholders at the end of the reporting period[11] - The largest shareholder, Yixing Pengyao Investment Co., Ltd., held 30.31% of the shares, amounting to 216,702,150 shares[11] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[13] Operational Insights - The increase in net profit was primarily driven by the operation of sewage treatment projects and adjustments in water prices, along with an increase in sludge disposal volume[17] - The company has no significant changes in major suppliers or customers during the reporting period[19] - There were no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[21] Research and Development - Research and development expenses rose to CNY 6,612,059.69 from CNY 4,279,404.33, reflecting a significant increase of approximately 54.3%[35] - Research and development expenses for the current period are CNY 4,647,658.90, compared to CNY 3,975,001.53 in the previous period, reflecting an increase in investment in innovation[39] Investment Activities - The company reported an investment income of CNY 430,938.96, a recovery from a loss of CNY -280,330.99 in the previous period[39] - Investment activities resulted in a net cash outflow of -32,931,752.23 yuan, compared to -22,092,798.58 yuan in the previous period, reflecting increased investment expenditures[48] Audit and Compliance - The first quarter report was not audited, which may affect the reliability of the financial data presented[50]

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].

Financial Performance - Operating revenue rose by 45.36% to CNY 544,286,659.38 for the current period, compared to CNY 374,452,691.17 in the same period last year[9] - Net profit attributable to shareholders increased by 74.70% to CNY 121,686,576.06, up from CNY 69,655,325.00 year-on-year[9] - The net profit after deducting non-recurring gains and losses surged by 81.75% to CNY 116,976,576.03 compared to CNY 64,359,634.00 in the previous year[9] - Basic earnings per share increased by 74.21% to CNY 0.1702 from CNY 0.0977 in the same period last year[9] - Operating profit for the period was ¥127,412,448.36, up from ¥75,179,290.57 year-on-year, reflecting a growth of approximately 69.5%[37] - Net profit attributable to the parent company was ¥121,686,576.64, compared to ¥69,655,325.26 in the previous year, representing an increase of about 74.8%[37] - Net profit for the period was CNY 291,663,145.69, representing a 52.4% increase from CNY 191,447,340.67 in the same period last year[45] - The total comprehensive income for the period was CNY 291,663,145.69, an increase from CNY 191,447,340.67 in the same period last year[46] Assets and Liabilities - Total assets increased by 5.50% to CNY 6,586,755,376.05 compared to the end of the previous year[9] - The company's total assets amounted to ¥4,024,110,461.25, an increase from ¥3,923,637,768.34 in the previous year[33] - Total liabilities increased to CNY 2,950,064,204.63 from CNY 2,669,323,745.54, an increase of approximately 10.51%[29] - The company's total liabilities were ¥1,765,145,896.01, compared to ¥1,532,768,315.13 in the previous year, marking an increase of approximately 15.1%[33] - The company's total equity stood at 3,574,177,717.61 CNY, reflecting its financial stability[62] Cash Flow - Cash flow from operating activities showed a decline of 71.27%, resulting in a net outflow of CNY 144,987,700.68[9] - The company's cash flow from operating activities improved by 37.61% compared to the previous period[17] - Cash flow from operating activities showed a net outflow of ¥188,437,566.99, an improvement from a net outflow of ¥302,022,312.92 in the same period last year[53] - Operating cash flow for the period was negative at -190,006,349.46 CNY, a significant decline compared to a positive cash flow of 16,818,374.26 CNY in the same period last year[55] Shareholder Information - The company reported a total of 54,484 shareholders at the end of the reporting period[13] - The largest shareholder, Yixing Pengyao Investment Co., Ltd., holds 30.31% of the shares, amounting to 216,702,150 shares, with part of these shares pledged[13] Research and Development - The company's revenue from research and development expenses increased by 32.73% to RMB 19,206,972.88, reflecting higher R&D investment[17] - Research and development expenses for the quarter were ¥8,603,030.39, slightly up from ¥8,483,358.87 year-on-year, indicating continued investment in innovation[36] - Research and development expenses for the period were CNY 19,206,972.88, up 32.5% from CNY 14,470,377.10 in the previous year[43] - Research and development expenses rose to ¥13,734,601.10, up 17.8% from ¥11,648,016.59 in the previous year[48] Investment Activities - The company reported an investment loss of ¥10,797,755.43, contrasting with a gain of ¥1,703,944.56 in the same period last year, indicating challenges in investment performance[36] - Total investment income for the quarter was ¥80,281,773.88, significantly higher than ¥34,849,531.58 in the previous year[48] Other Financial Metrics - The company's trading financial assets decreased by 69.51% to RMB 18,038,636.09 due to the redemption of bank wealth management products[17] - Accounts receivable decreased by 95.66% to RMB 498,746.96, primarily due to the maturity of commercial acceptance bills[17] - The company's construction in progress increased by 253.55% to RMB 95,368,412.41, attributed to increased project construction[17] - Short-term borrowings rose by 99.03% to RMB 615,000,000.00, mainly due to increased bank loans[17] - The company's deferred income increased by 113.00% to RMB 21,321,219.63, due to received project investment funds[17] - The company incurred credit impairment losses of CNY 16,361,243.42, an increase from CNY 7,032,056.39 in the previous period[45] - The company's tax expenses were CNY 58,017,408.52, compared to CNY 45,414,420.33 in the previous period[45]