Dividend Distribution - The company plans to distribute a cash dividend of 1 RMB per 10 shares to all shareholders, based on a total of 182,104,000 shares [6]. - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares, totaling RMB 18,210,400.00 for the year 2019, based on a total share capital of 182,104,000 shares [176]. - The cash dividend for 2018 was RMB 1.00 per 10 shares, amounting to RMB 14,008,000.00, based on a total share capital of 140,080,000 shares [177]. - The cash dividend payout ratio for 2019 was 24.90% of the net profit attributable to shareholders, compared to 19.05% in 2018 and 18.20% in 2017 [178]. - The total cash dividends distributed over the past three years were RMB 18,210,400.00 in 2019, RMB 14,008,000.00 in 2018, and RMB 14,008,000.00 in 2017 [178]. - The company has maintained a consistent cash dividend distribution strategy over the past three years, with no stock bonuses or capital reserve conversions proposed [177]. - The cash dividends for 2019 represent an increase in total payout compared to previous years, reflecting the company's commitment to providing stable returns to shareholders [176]. - The company’s net profit for 2019 was RMB 73,142,052.3, which supports the dividend distribution [178]. Financial Performance - The company's operating revenue for 2019 was CNY 1,440,375,320.79, representing a 109.98% increase compared to CNY 685,964,228.70 in 2018 [18]. - The net profit attributable to shareholders for 2019 was CNY 73,142,052.32, a slight decrease of 0.53% from CNY 73,533,333.39 in the previous year [18]. - The net profit after deducting non-recurring gains and losses was CNY 66,558,602.44, which is a 2.88% increase from CNY 64,697,695.54 in 2018 [18]. - The total assets at the end of 2019 reached CNY 2,359,506,051.20, marking a 66.09% increase from CNY 1,420,600,618.35 in 2018 [18]. - The net cash flow from operating activities was negative at CNY -608,351,781.88, a significant decline compared to CNY 20,123,743.81 in 2018 [18]. - The basic earnings per share for 2019 was CNY 0.4016, a decrease of 0.54% from CNY 0.4038 in the previous year [18]. - The weighted average return on equity for 2019 was 7.63%, down from 8.18% in 2018 [18]. - The company reported a quarterly revenue of CNY 605,025,791.00 in Q4 2019, which was the highest among the four quarters [20]. - The total net profit for Q4 2019 was CNY 22,388,929.56, consistent with the performance in Q2 2019 [20]. - The company did not report any significant discrepancies between quarterly reports and annual financial indicators [20]. Strategic Direction and Development - The annual report outlines the company's strategic direction and future development plans, although these do not constitute binding commitments to investors [5]. - The company is focusing on clean energy and new energy projects, particularly in gas power generation and offshore wind power, with significant overseas project experience [33]. - The company aims to enhance its market presence in the "new infrastructure" sectors, including power IoT and ultra-high voltage [30]. - The company is implementing a "two sources, two seas" business strategy, focusing on smart energy and overseas markets [30]. - The company aims to become an internationally recognized comprehensive energy service provider, aligning with national energy investment policies [71]. - The company plans to enhance its EPC capabilities and accelerate the development of smart energy and intelligent operation businesses as part of its strategic revision [80]. - The company plans to continue expanding its market presence and investing in new technologies to enhance its competitive edge [124]. Research and Development - The company is increasing R&D investment in digital energy solutions, including network security and digital storage power stations [30]. - The company has established a professional research and development team in power information and communication technology, achieving substantial progress in digital power, power communication, and power information business [45]. - The company has established a digital technology R&D center in 2018 and initiated comprehensive promotion of digital design by the end of 2019, with plans for completion by October 25, 2021 [126]. - The company is committed to enhancing its R&D capabilities, focusing on offshore wind technology, digital design, and energy storage to strengthen its core competitiveness [159]. Market Expansion and Opportunities - The company is actively expanding its smart energy business, integrating cutting-edge technologies such as IoT, big data, and 4G/5G wireless communication [44]. - The company has established stable partnerships with over 30 large state-owned enterprises, enhancing its brand influence in the energy sector [68]. - The energy demand in Southeast Asia is expected to grow by over 80% by 2035, equivalent to the current total energy consumption of Japan, presenting significant market opportunities for the energy sector [152]. - The overall investment scale in China's electricity energy sector exceeds CNY 1 trillion annually, with emerging business models like comprehensive energy services and incremental distribution networks gaining traction [153]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report, indicating potential differences between plans and actual outcomes [5]. - The company is closely monitoring the impact of the COVID-19 pandemic on its financial status and operational results, with measures in place to mitigate risks [162]. - The company has established a long-term mechanism for accounts receivable management to improve recovery rates and mitigate associated risks [164]. - The company adheres to a principle of "efficiency first" in its investment strategy, ensuring thorough risk analysis and management for new projects [167]. Acquisitions and Investments - The company acquired Fujian Yongfu Operation and Maintenance Technology Co., Ltd. to build an intelligent operation and maintenance platform, extending its industrial chain [46]. - The company has expanded its operational footprint by acquiring several companies, including Fujian Huachao Information Technology Co., Ltd. for ¥5,044,000.00 and Fujian Yongfu Operation Technology Co., Ltd. for ¥14,080,000.00 [93]. - The company established a subsidiary, Yongfu Singapore New Energy Development Company PTE.LTD., with a registered capital of 30,000 USD on February 19, 2019, and has not yet made any actual contributions [199]. - The company established a subsidiary, YONGFU PHILIPPINE NEW ENERGY MANAGEMENT LTD.INC., with a registered capital of 52 million Philippine Pesos, contributing 51.9948 million Philippine Pesos, representing 99.99% of the capital [200]. Financial Management - The company reported a significant change in accounting policies, including the split of "accounts receivable" into "notes receivable" and "accounts receivable," with the previous year's balances being CNY 210,000 for notes receivable and CNY 390,892,460.73 for accounts receivable [191]. - The company has implemented new financial instrument standards, which require retrospective adjustments for previously recognized financial instruments, affecting the retained earnings and other comprehensive income at the beginning of the year [192]. - The company reported a credit impairment loss of 40,859,325.41 CNY for the current period, compared to 29,754,026.91 CNY in the previous period, indicating an increase of approximately 37.5% [195]. - The company’s total liabilities include accounts payable of 180,271,013.24 CNY, which remains consistent across reporting standards [195]. Compliance and Governance - The company guarantees to continue to regulate and gradually reduce related party transactions with its subsidiaries and affiliates [181]. - The company will fulfill its information disclosure obligations accurately and completely before any share reduction [180]. - The commitments made by the controlling shareholders are irrevocable and must be strictly followed [188]. - The company will disclose any failure to fulfill commitments in a timely manner and will correct any issues promptly [188].

Financial Performance - Total revenue for Q1 2020 was ¥196,517,422.37, a decrease of 25.82% compared to ¥264,912,373.10 in the same period last year[8]. - Net profit attributable to shareholders was ¥8,212,417.82, down 58.50% from ¥19,790,734.09 year-on-year[8]. - Basic earnings per share decreased to ¥0.0451, a decline of 58.51% compared to ¥0.1087 in the previous year[8]. - The company's operating revenue for Q1 2020 was CNY 196.52 million, a decrease of 25.82% compared to the same period last year[21]. - The net profit attributable to shareholders for Q1 2020 was CNY 8.21 million, down 58.50% year-on-year[21]. - The total profit for Q1 2020 was CNY 8,243,194.11, a decrease of 65.1% from CNY 23,577,764.45 in Q1 2019[57]. - The company's operating profit for Q1 2020 was CNY 8,172,417.18, down 65.3% from CNY 23,506,664.45 in the same period last year[57]. - The company reported a total comprehensive income of CNY 6,407,877.91 for Q1 2020, down 67.5% from CNY 19,718,362.28 in the previous year[57]. Cash Flow and Assets - The net cash flow from operating activities improved to -¥150,120,303.88, a 31.95% increase from -¥220,597,970.99 in the same period last year[8]. - The company's cash and cash equivalents decreased to CNY 264,267,127.52 from CNY 267,856,999.55, a decline of about 2.0%[46]. - Operating cash inflow for the first quarter was CNY 250,608,806.06, a significant increase from CNY 74,581,155.09 in the previous year[67]. - Net cash flow from operating activities was -CNY 106,904,045.29, improving from -CNY 191,791,230.80 year-over-year[67]. - The ending cash and cash equivalents balance was CNY 41,667,166.12, down from CNY 178,045,762.44 year-over-year[68]. - Total assets at the end of the reporting period were ¥2,458,664,936.64, reflecting a 4.20% increase from ¥2,359,506,051.20 at the end of the previous year[8]. - The company's total assets were CNY 2,359,506,051.20, unchanged from the previous year[72]. Shareholder Information - The total number of shareholders at the end of the reporting period was 14,845[12]. - The largest shareholder, Fuzhou Bohong Investment Management Co., Ltd., held 29.98% of shares, amounting to 54,594,735 shares[12]. Operational Changes and Strategies - The company plans to focus on new business areas such as smart energy and intelligent operation, leveraging investments in new infrastructure[20]. - The company strictly executed the 2020 annual business plan, focusing on strategic guidance and optimizing regional layout, which helped minimize the impact of the pandemic on performance[24]. - The company plans to accelerate the implementation of domestic projects and respond quickly to national investments in "new infrastructure" such as ultra-high voltage and smart energy[25]. - The company aims to enhance its market development in emerging businesses like smart energy and intelligent operation, partially offsetting the impact of COVID-19[26]. - The company is closely monitoring the development of the COVID-19 pandemic and its potential impact on financial status and operational results[25]. Financial Management and Risks - The company is committed to improving accounts receivable management to mitigate risks associated with rising accounts receivable balances[28]. - The company is enhancing project management systems to address risks related to project execution, including delays and quality control issues[29]. - The company is focused on expanding its overseas market presence while managing risks associated with local regulations and business environments[30]. - The company emphasizes a "benefit first" principle in investment projects, ensuring thorough risk analysis and management procedures are in place[31]. Research and Development - Research and development expenses increased to CNY 6,169,093.63 in Q1 2020, up 22.7% from CNY 5,026,615.24 in Q1 2019[59]. - The company is focusing on partnerships with domestic and international research institutions for the offshore wind power and smart grid research centers, which have been delayed until October 25, 2021[37]. Investment and Fund Management - The total amount of raised funds is 374.09 million yuan, with 31.12 million yuan already invested in projects[35]. - The company has achieved 44.13% of the investment progress for the project aimed at enhancing surveying and design capabilities[35]. - The company has decided to halt further investments in the solar thermal power research center due to high subsequent investment costs and uncertain short-term returns, reallocating unused funds to EPC engineering projects[37]. - The total amount of unused raised funds for the solar thermal power research center will be redirected to EPC engineering projects, ensuring effective use of resources[37].

Financial Performance - Operating revenue for the reporting period reached CNY 262,260,522.97, a growth of 52.26% year-on-year[8] - Net profit attributable to shareholders decreased by 51.26% to CNY 8,575,171.81 compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 55.80% to CNY 6,867,358.39[8] - Basic earnings per share decreased by 62.50% to CNY 0.0471[8] - The weighted average return on net assets was 0.89%, down by 1.06% from the previous year[8] - Total operating revenue for Q3 2019 reached CNY 262,260,522.97, an increase of 52.3% compared to CNY 172,247,287.43 in the same period last year[47] - The net profit for Q3 2019 was CNY 8,084,772.91, down 54.0% from CNY 17,594,810.10 in Q3 2018[49] - The total profit for Q3 2019 was CNY 9,463,367.66, a decrease of 51.6% compared to CNY 19,539,284.10 in the previous year[48] - The basic and diluted earnings per share for Q3 2019 were both CNY 0.0471, down from CNY 0.1256 in the same quarter last year[49] - The total comprehensive income for Q3 2019 was CNY 8,084,772.91, compared to CNY 17,594,810.10 in Q3 2018[49] Assets and Liabilities - Total assets increased by 31.46% to CNY 1,867,461,934.95 compared to the end of the previous year[8] - The total current assets as of September 30, 2019, amounted to approximately RMB 1.55 billion, an increase from RMB 1.13 billion as of December 31, 2018[37] - The total assets as of September 30, 2019, reached approximately RMB 1.87 billion, compared to RMB 1.42 billion as of December 31, 2018[38] - Total liabilities increased to CNY 784,515,400.53 from CNY 539,161,843.21, reflecting a rise of 45.5%[44] - Current liabilities reached CNY 489,952,574.35, while total liabilities were CNY 490,676,868.69[72] - Owner's equity totaled CNY 929,923,749.66, with a capital reserve of CNY 506,922,843.17 and undistributed profits of CNY 256,925,444.12[73] Cash Flow - The net cash flow from operating activities was negative at CNY -420,051,991.83, a decline of 320.12%[8] - Cash inflow from financing activities was 360,076,297.75 CNY, significantly higher than 115,000,000.00 CNY in the previous year[65] - The net cash flow from financing activities improved to 234,018,165.80 CNY from -68,713,300.44 CNY year-over-year[65] - The company reported a total operating cash outflow of 798,961,057.25 CNY, which is significantly higher than 394,267,178.75 CNY in the previous year[64] - The cash inflow from sales of goods and services was 342,227,494.26 CNY, an increase from 260,032,126.24 CNY year-over-year[66] Shareholder Information - The company had a total of 13,125 common shareholders at the end of the reporting period[12] - The largest shareholder, Fuzhou Bohong Investment Management Co., Ltd., held 29.98% of the shares[12] Research and Development - Research and development expenses increased by 39.01% to CNY 19,439,171.33, up from CNY 13,983,586.15, indicating a commitment to innovation[21] - Research and development expenses for the quarter were CNY 9,773,041.53, up from CNY 5,778,203.20, indicating a 69% increase in investment in innovation[47] - The company's R&D expenses increased to CNY 19,439,171.33 in Q3 2019, up 39.5% from CNY 13,983,586.15 in the same period last year[60] Operational Highlights - Operating costs increased by 103.12% to CNY 666,323,695.31, up from CNY 328,044,959.84, reflecting the growth in revenue and the scale of EPC projects[21] - Accounts receivable rose by 124.29% to CNY 876,743,837.54, attributed to pending payments from the 49MW ground-mounted photovoltaic EPC project in Vietnam and rapid business growth[17] - Short-term borrowings surged by 244.99% to CNY 362,239,941.40, reflecting increased funding needs for the expanding EPC contracting business[17] - The company signed an EPC contract for the 70MW wind power project in Fujian with a contract value of approximately RMB 268.43 million, confirming revenue of RMB 268.43 million as of September 30, 2019[25] - The company entered into a contract for the offshore wind farm project in Fujian with a contract value of approximately RMB 239.98 million, confirming revenue of RMB 29.72 million as of September 30, 2019[25] Financial Adjustments - The company recognized goodwill of CNY 10,543,340.62 from the acquisition of a subsidiary, reflecting the difference between the investment cost and the fair value of identifiable net assets[17] - The company’s financial assets reclassification under new financial instrument standards resulted in a 100% increase in trading financial assets to CNY 50,300,000.00[17] - The company has made adjustments to its financial assets, reclassifying CNY 14,300,000.00 from available-for-sale financial assets[74]

Financial Performance - The company reported a total revenue of RMB 100 million for the first half of 2019, representing a year-on-year increase of 15% compared to the same period in 2018[15]. - The net profit attributable to shareholders for the first half of 2019 was RMB 20 million, an increase of 10% year-on-year[15]. - Total operating revenue for the reporting period reached ¥573,089,006.82, an increase of 91.71% compared to the same period last year[21]. - Net profit attributable to shareholders was ¥42,177,950.94, reflecting a growth of 10.26% year-over-year[21]. - The company reported a total revenue of 4.00 billion in the first half of 2019, reflecting a year-on-year increase of 10.4%[98]. - The net profit for the first half of 2019 was approximately 3.10 billion, representing a growth of 10.8% compared to the same period last year[99]. - The company's total assets reached 28.00 billion, with a significant portion allocated to financial management and investment activities[100]. - The company’s total share capital increased by 42,024,000 shares due to the rights issue, resulting in a new total of 182,104,000 shares[161]. - The basic earnings per share for 2018 were RMB 0.5249, while the diluted earnings per share were also RMB 0.5249; for the first half of 2019, the basic and diluted earnings per share decreased to RMB 0.2316[162]. Market Expansion and Strategy - The company plans to expand its market presence by entering new regions, focusing on clean energy projects and smart grid solutions[15]. - User data indicates a 30% increase in project inquiries compared to the previous year, highlighting growing demand for the company's services[15]. - The company is actively pursuing strategic partnerships to enhance its capabilities in engineering design and project management[15]. - Future guidance suggests a projected revenue growth of 20% for the full year 2019, driven by new project acquisitions[15]. - The company is focusing on the Southeast Asian electricity market as part of its international expansion strategy[49]. - The company is actively exploring new overseas business models and investment strategies, particularly in Southeast Asia, in line with the Belt and Road Initiative[58]. - The company is focusing on expanding its market presence and enhancing its service offerings in the energy design sector[99]. - The company plans to expand its market presence, focusing on new product development and technological advancements in the upcoming quarters[140]. Research and Development - Research and development expenses increased by 25% in the first half of 2019, reflecting the company's commitment to innovation in power engineering[15]. - The company has developed 93 patent technologies, with 4 patents authorized in the first half of 2019[48]. - The company has established a comprehensive technology innovation research and development system, focusing on areas such as new energy, energy storage, and smart energy[39]. - The company is actively pursuing new technology developments in energy storage, flexible DC technology, and smart energy[56]. - Research and development investment rose by 17.80% to RMB 9,666,129.80, reflecting the company's commitment to enhancing its technological capabilities[64]. - Research and development expenses for the first half of 2019 amounted to CNY 9,666,129.80, which is a 17.8% increase from CNY 8,205,382.95 in the first half of 2018[197]. Financial Health and Management - The company emphasizes risk management strategies in its operations to mitigate potential impacts from market fluctuations[7]. - The company has established a modernized internal control system to enhance management efficiency[46]. - The company is implementing a long-term mechanism for accounts receivable management to mitigate risks associated with rising accounts receivable balances as business scales up[108]. - The company is enhancing its project management system to control risks related to project delays and quality management by improving supplier management and on-site management capabilities[110]. - The company is closely monitoring the political, economic, and social environments in countries where it operates overseas projects to mitigate execution risks[111]. - The company has maintained a strong liquidity position, with cash management practices ensuring sufficient operational funds[100]. - The company is committed to maintaining its financial health and operational efficiency in the upcoming quarters[99]. Operational Challenges - The company reported a net cash flow from operating activities of -¥309,147,740.67, a decline of 198.96% compared to the same period last year[21]. - Cash and cash equivalents decreased by 36.19% compared to the beginning of the year, mainly due to increased working capital for equipment and subcontractor payments[34]. - The company’s inventory accounted for 35.19% of total assets, reflecting a significant increase of 19.58% year-on-year due to ongoing projects[71]. - The company is focusing on enhancing its organizational structure and processes to support its strategic expansion and internationalization efforts[89]. Corporate Governance and Compliance - The company did not distribute cash dividends or issue bonus shares for the half-year period[115]. - The company has not faced any administrative penalties for environmental violations during the reporting period[149]. - The company has not engaged in any derivative investments during the reporting period, indicating a conservative approach to risk management[101]. - The company has not made any significant equity investments during the reporting period[78]. - The company has not encountered any overdue amounts in its entrusted financial management activities[94]. - The company has a consistent record of financial responsibility, as indicated by the absence of violations in external guarantees[145]. Social Responsibility - The company is actively participating in poverty alleviation efforts, with a financial contribution of CNY 0.5 million towards health initiatives for impoverished mothers[151]. - The company plans to continue its poverty alleviation efforts in the second half of 2019, focusing on supporting local agricultural products and conducting follow-up activities[154]. - The company is committed to executing its precision poverty alleviation plan by integrating resources and collaborating with local governments[150].

Dividend and Profit Distribution - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares to all shareholders, based on a total of 140,080,000 shares[5]. - The company will increase its capital reserve by converting 3 shares for every 10 shares held by shareholders[5]. - The company distributed a cash dividend of RMB 1.00 per 10 shares, totaling RMB 14,008,000.00 for the reporting period[145]. - The total distributable profit as of December 31, 2018, was RMB 204,811,771.94, after accounting for previous undistributed profits[146]. - The cash dividend accounted for 19.05% of the net profit attributable to shareholders, which was RMB 73,533,333.39 for the year 2018[148]. - The company proposed a capital reserve increase of 3 shares for every 10 shares held, with no cash dividends in previous years[147]. - The company maintained a consistent cash dividend policy over the past three years, with cash dividends of RMB 14,008,000.00 each year since 2017[148]. - The independent directors fulfilled their responsibilities and ensured the protection of minority shareholders' rights during the dividend distribution process[145]. - The company’s profit distribution plan aligns with its articles of association and relevant regulations[145]. - The total cash dividend distributed in 2018 represented 100% of the profit distribution total[146]. - The company’s net profit for the year was RMB 73,533,333.39, with a corresponding profit distribution plan approved by the board[146]. - The company has not proposed any cash dividend distribution plan for the current reporting period despite having positive distributable profits[148]. Financial Performance - The company's operating revenue for 2018 was ¥685,964,228.70, representing a 21.54% increase compared to ¥564,396,520.28 in 2017[17]. - The net profit attributable to shareholders for 2018 was ¥73,533,333.39, a decrease of 4.46% from ¥76,966,118.46 in 2017[17]. - The net cash flow from operating activities decreased by 64.30% to ¥20,123,743.81 in 2018 from ¥56,365,713.93 in 2017[17]. - The total assets at the end of 2018 were ¥1,420,600,618.35, an increase of 18.16% from ¥1,202,239,854.29 at the end of 2017[17]. - The company reported a basic earnings per share of ¥0.5249 in 2018, down 24.37% from ¥0.6940 in 2017[17]. - The net profit after deducting non-recurring gains and losses was ¥64,697,695.54, down 11.99% from ¥73,509,293.42 in 2017[17]. - The weighted average return on net assets decreased to 8.18% in 2018 from 14.80% in 2017, a decline of 6.62%[17]. - The company reported a total of ¥8,835,637.85 in non-recurring gains in 2018, compared to ¥3,456,825.04 in 2017[24]. - The company's long-term equity investments increased by 100% compared to the beginning of the year, primarily due to the adjustment of shares in Fujian Yongfan Wind Power Technology Co., Ltd. to long-term equity investments[33]. - Cash and cash equivalents grew by 62.41% year-over-year, attributed to an increase in net cash flow during the reporting period[33]. - Accounts receivable rose by 31.97% compared to the beginning of the year, driven by business growth and delays in project production due to external factors[33]. Business Operations and Strategy - The company is involved in engineering consulting, design, and project management services in the energy sector[10]. - The company is focused on clean and renewable energy solutions, including solar and wind energy[10]. - The company operates in over 20 provinces and regions in China and has expanded its overseas business to Southeast Asia, Africa, and the Middle East[27]. - The company provides full lifecycle technical services in power engineering planning, consulting, surveying, design, and EPC project contracting[27]. - The company aims to enhance its core competitiveness in the clean energy sector, focusing on offshore wind power as a strategic development direction[29]. - The company is actively participating in the national "going out" strategy, expanding its overseas business in Southeast Asia and Africa[29]. - The company has established a digital technology R&D center in 2018 and completed the first two phases of research work, with the comprehensive launch phase over 50% completed[39]. - The company plans to promote digital design across the power grid, power generation BOP, and offshore wind power sectors in the second half of 2019[39]. - The company has established stable cooperative relationships with over 30 large state-owned enterprises, enhancing its brand influence in the power engineering sector[44]. - The company undertook or participated in over 100 key national and provincial engineering survey and design tasks, winning 158 quality engineering awards at the national and provincial levels[44]. Research and Development - R&D investment accounted for 2.8% of total revenue in 2018, with the company obtaining 21 new patents during the year[36]. - The company has developed key technologies for offshore wind power, including research on embedded rock single-pile foundations and floating collision prevention technology[37]. - The company has accumulated a total of 25 patents related to offshore wind power, becoming the first in China to provide three-dimensional digital foundation design results[37]. - The company is focusing on enhancing its digital technology R&D investment to promote digitalization, networking, and intelligence in the power sector[128]. - The company plans to strengthen its innovation capabilities and core competitiveness through a three-year technology development plan[129]. Market Trends and Industry Outlook - The overall electricity consumption in China is projected to reach 6.8-7.2 trillion kWh by 2020, with an average annual growth rate of 3.6%-4.8%[105]. - The total installed capacity of electricity generation is expected to reach 2 billion kW by 2020, with an average annual growth rate of 5.5%[105]. - The cumulative installed capacity of offshore wind power in China reached 3,580 MW by November 2018, with approved project capacity at 17,100 MW and projects under construction at 6,000 MW[108]. - The market for energy-saving retrofitting of coal-fired power plants is significant, with an average coal consumption target of less than 310 grams/kWh for existing units by 2020[108]. - The investment in the distribution network construction and renovation is expected to be no less than 2 trillion yuan from 2015 to 2020, with a cumulative investment of no less than 1.7 trillion yuan during the 13th Five-Year Plan[110]. - The offshore wind power planning total scale is adjusted to 131,570 MW, with an increase of 59,390 MW, representing a growth rate of 81.11%[107]. - The average growth rate for nuclear power generation is projected at 16.5%, wind power at 9.9%, and solar power at 21.2% during the 13th Five-Year Plan[107]. - The Southeast Asian energy demand is projected to grow by over 80% by 2035, equivalent to Japan's current total energy consumption, presenting significant market opportunities for the power industry[116]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[4]. - The company is addressing potential risks in the power industry, including policy changes and market fluctuations, by focusing on smart distribution networks and clean energy[135]. - The company is implementing measures to manage accounts receivable risks as its business scale expands[137]. - The company is enhancing its project management capabilities to mitigate risks associated with project execution and subcontractor quality control[138]. - The company is improving its overseas project management to adapt to local regulations and market conditions[139]. Shareholder and Corporate Governance - The company has committed to not transferring or entrusting others to manage its shares for 36 months from the date of its stock listing[149]. - The company’s shareholders are restricted from transferring their shares within 6 months of their resignation, and for 18 months thereafter, ensuring stability in shareholding[150]. - The total number of shares that can be reduced by shareholders after the lock-up period is limited to 10% of the total shares outstanding[150]. - If the stock price falls below the issue price for 20 consecutive trading days, the lock-up period will automatically extend by 6 months[150]. - The company has fulfilled all commitments related to share transfers and management as of the reporting date[149]. - The company has established measures to ensure that directors and senior management fulfill their commitments, with penalties for non-compliance[160]. - The company will disclose specific reasons for any failure to fulfill commitments in a timely manner[160]. - The company has the right to withhold cash dividends and salaries from violators until compliance is achieved[160]. - Serious violations of commitments may lead to the replacement of relevant directors or the dismissal of senior management by the board[160]. Subsidiaries and Related Transactions - The company established a subsidiary with a registered capital of ¥50 million, focusing on investments in various energy sectors and technology development[71]. - The company has engaged Huachuang Securities as its sponsor since its public listing in 2017, with a continuous supervision period until December 31, 2020[165]. - The company signed a housing lease contract with Fujian Yongfu Group Co., Ltd. for 210,000 yuan, which did not require board approval[177]. - A housing lease contract was signed with Fujian Province Yongfu Bofa Investment Co., Ltd. for 257,400 yuan, also not requiring board approval[177]. - The company entered into a housing lease contract with Fujian Province New Energy Offshore Wind Power Research Center Co., Ltd. for 537,600 yuan, with 118,300 yuan settled for office equipment leasing during the reporting period[177]. - The company did not engage in any asset or equity acquisition or sale transactions during the reporting period[174]. - There were no significant related party transactions that contributed to over 10% of the company's total profit during the reporting period[181]. - The company reported no significant impact from its leasing activities on its financial status or operations[180]. Employee Stock Ownership Plan - The first employee stock ownership plan raised a total of 20.62 million yuan, involving 99 participants including directors and senior management[171]. - As of January 31, 2019, the employee stock ownership plan acquired 1,455,368 shares, representing 1.0390% of the total share capital, at an average price of approximately 14.0264 yuan per share[172]. - The lock-up period for the employee stock ownership plan is 12 months, from February 1, 2019, to January 31, 2020, with a total duration from October 15, 2018, to October 14, 2021[172]. - The employee stock ownership plan aims to enhance employee motivation and align their long-term value with the company's growth[172].

Financial Performance - Total operating revenue for Q1 2019 reached ¥264,912,373.10, representing a 105.70% increase compared to ¥128,784,251.08 in the same period last year[8] - Net profit attributable to shareholders was ¥19,790,734.09, up 10.37% from ¥17,931,210.79 year-on-year[8] - Net profit after deducting non-recurring gains and losses was ¥18,817,329.23, reflecting a 16.36% increase from ¥16,171,099.40 in the previous year[8] - Basic earnings per share increased to ¥0.1413, a rise of 10.39% from ¥0.1280[8] - The company reported a total of CNY 71,100.00 in other income for Q1 2019, down from CNY 254,061.75 in the previous year[58] - The total comprehensive income for the period was CNY 18,358,278.02, compared to CNY 14,840,351.01 in the previous period, reflecting an increase of approximately 23.4%[63] Cash Flow and Liquidity - The net cash flow from operating activities was -¥220,597,970.99, worsening by 110.37% compared to -¥104,859,913.87 in the same period last year[8] - Cash inflows from operating activities amounted to CNY 82,364,746.12, up from CNY 56,383,570.73, representing a growth of about 46.0%[66] - The net cash flow from operating activities was CNY -220,597,970.99, worsening from CNY -104,859,913.87 in the previous period[66] - The ending balance of cash and cash equivalents was CNY 182,551,072.57, compared to CNY 95,158,120.05 at the end of the previous period, reflecting an increase of about 92.0%[68] - The company experienced a net decrease in cash and cash equivalents of CNY -106,649,527.69, compared to a decrease of CNY -89,609,359.03 in the previous period, indicating a worsening cash position[68] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,469,744,328.93, up 3.46% from ¥1,420,600,618.35 at the end of the previous year[8] - The company's current assets totaled CNY 1,189,455,638.95, compared to CNY 1,128,677,240.08 at the end of 2018, indicating an increase of about 5.7%[49] - The company's total liabilities were CNY 517,375,890.75, up from CNY 490,676,868.69, which is an increase of approximately 5.4%[50] - The total amount of financial assets classified as trading assets was CNY 14,300,000.00[75] - The company's total liabilities to equity ratio is approximately 0.53, indicating a balanced capital structure[75] Operational Highlights - The company's operating revenue for the reporting period reached ¥264,912,373.10, representing a 105.70% increase compared to the previous period's ¥128,784,251.08, driven by the expansion of EPC contracting services, particularly in Vietnam's photovoltaic projects[19] - The company's operating costs increased by 146.27% to ¥210,674,863.61, primarily due to the expansion of business scale and the increase in costs associated with EPC projects[19] - The company reported a significant increase in prepayments, which rose by 413.09% to ¥25,536,808.19, mainly due to increased prepayments for equipment and subcontracting in the Vietnam photovoltaic project[17] - The company is focusing on developing smart distribution networks and clean energy to mitigate risks associated with industry policy changes[27] - The company is enhancing its project management capabilities to address risks associated with project execution and supplier management[30] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,822[12] - The company has initiated an employee stock ownership plan, acquiring 1,455,368 shares, representing 1.039% of total share capital[33] Future Plans and Strategies - The company plans to optimize its organizational structure and performance management system to enhance operational efficiency and profitability[23] - The company aims to advance its three-year technology development plan, focusing on smart offshore wind power and other new energy technologies[23] - The company is focusing on enhancing its surveying and design capabilities, which are essential for successfully undertaking offshore wind projects[40] Risks and Challenges - The company is actively monitoring overseas project risks related to local regulations and market conditions to ensure successful execution[31] - The cash flow from operating activities was negatively impacted by increased payments related to other operating activities, which rose to CNY 21,869,486.62 from CNY 7,031,284.70, an increase of about 210.0%[66] Miscellaneous - The first quarter report was not audited, which may affect the reliability of the financial data presented[84]

Financial Performance - Operating revenue for the reporting period was ¥172,247,287.43, representing a year-on-year growth of 27.65%[7] - Net profit attributable to shareholders was ¥17,594,810.10, a decrease of 12.29% compared to the same period last year[7] - Basic earnings per share decreased by 34.21% to ¥0.1256[7] - The net profit for the third quarter of 2018 was CNY 51,327,132.33, an increase from CNY 49,118,236.35 in the same period last year, representing a growth of approximately 4.5%[53] - Operating profit for the quarter was CNY 59,213,330.15, compared to CNY 57,670,315.50 in the previous year, indicating an increase of about 2.7%[53] - Net profit for the current period was ¥55,847,131.93, down from ¥57,399,429.96 in the previous period, reflecting a decline of approximately 2.7%[50] - Total profit for the current period was ¥65,251,782.48, compared to ¥67,240,590.92 in the previous period, reflecting a decrease[49] Cash Flow - The net cash flow from operating activities showed a significant decline, amounting to -¥99,983,055.42, a drop of 7,792.31%[7] - Cash flow from operating activities showed a net outflow of CNY 99,983,055.42, a significant decline from a net inflow of CNY 1,299,778.55 in the same quarter last year[54] - Cash flow from investment activities generated a net inflow of CNY 100,201,977.07, compared to CNY 3,159,841.69 in the previous year[56] - Cash flow from financing activities resulted in a net outflow of CNY 68,713,300.44, worsening from a net outflow of CNY 32,014,338.15 in the same quarter last year[56] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,314,292,689.54, an increase of 9.32% compared to the previous year[7] - Total liabilities were CNY 402,055,141.34, up from CNY 331,841,438.02, which is an increase of about 21%[34] - Current assets totaled CNY 1,041,450,049.15, up from CNY 954,243,796.53, indicating an increase of about 9.1%[32] - Total assets as of Q3 2018 were CNY 1,370,198,200.23, up from CNY 1,270,250,555.23 at the end of Q3 2017[38] - Total liabilities for Q3 2018 were CNY 510,754,895.96, an increase of 14.0% from CNY 448,126,383.29 in Q3 2017[38] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,096[11] - The largest shareholder, Fuzhou Bohong Investment Management Co., Ltd., held 29.98% of the shares[11] - The company did not engage in any repurchase transactions among the top ten shareholders during the reporting period[12] Investments and Income - Investment income reached ¥6,573,064.78, reflecting a shift to long-term equity investments and new interest income from structured deposits[18] - Financial expenses, particularly interest income, increased by 84.60% to ¥627,068.53 due to new deposit agreements with banks[18] - Other income for the current period was ¥254,061.75, slightly down from ¥287,611.52 in the previous period[52] Operational Metrics - Accounts receivable increased by 62.13% to ¥480,510,781.87, primarily due to business revenue growth and longer payment cycles from downstream customers[16] - Inventory rose by 40.62% to ¥201,260,095.99, attributed to ongoing construction projects and design work not yet reaching revenue recognition[16] - Research and development expenses for Q3 2018 amounted to CNY 5,778,203.20, an increase of 59.3% compared to CNY 3,630,014.71 in Q3 2017[39] - Total operating costs for the current period amounted to ¥412,909,214.06, up from ¥334,923,414.70 in the previous period, representing an increase of approximately 23.3%[48] Governance and Compliance - The company reported no overdue commitments or violations regarding external guarantees during the reporting period[26] - There were no significant changes in the cumulative net profit forecast for the year compared to the previous year[27] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[28] - The third quarter report has not been audited[61]

Financial Performance - Total revenue for the reporting period reached ¥298,932,107.81, an increase of 13.07% compared to ¥264,370,236.60 in the same period last year[19]. - Net profit attributable to shareholders was ¥38,252,321.83, reflecting a 2.44% increase from ¥37,340,197.40 year-on-year[19]. - Net profit after deducting non-recurring gains and losses was ¥37,959,869.34, up 8.69% from ¥34,924,357.60 in the previous year[19]. - Basic earnings per share decreased by 23.16% to ¥0.2731 from ¥0.3554 year-on-year[19]. - Operating profit for the same period was CNY 45.62 million, reflecting a growth of 5.64% compared to the previous year[46]. - The company reported a total profit of CNY 45,712,498.38, an increase of 6.0% compared to CNY 43,423,473.75 in the same period of 2017[159]. Cash Flow - The net cash flow from operating activities was -¥103,408,709.55, a significant decline of 338.81% compared to ¥43,300,866.67 in the same period last year[19]. - The company achieved a cash inflow from operating activities of CNY 161,215,551.03, compared to CNY 250,475,571.02 in the previous year[166]. - The total cash inflow from investment activities amounted to ¥440,424,732.88, primarily driven by cash recovered from investments of ¥435,000,000.00[168]. - Cash inflow from financing activities totaled ¥115,000,000.00, with cash outflow for debt repayment at ¥109,410,000.00, resulting in a net cash flow of -¥11,128,976.90[168]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,284,162,749.56, a 6.81% increase from ¥1,202,239,854.29 at the end of the previous year[19]. - Total liabilities amounted to CNY 389,520,011.46, compared to CNY 331,841,438.02, reflecting a growth of approximately 17.4%[151]. - The company’s total liabilities decreased by 9.28% year-on-year, with short-term borrowings at CNY 140,000,000.00[60]. - The company reported a total of CNY 9,300,000.00 in available-for-sale financial assets, which is 0.72% of total assets, an increase from 0.67% year-on-year, due to new investments in technology companies[61]. Shareholder Information - The total number of shares is 140,080,000, with 75% being limited shares and 25% being unrestricted shares[131]. - The largest shareholder, Fuzhou Bohong Investment Management Co., Ltd., held 29.98% of shares, totaling 41,995,950 shares[134]. - The total number of ordinary shareholders at the end of the reporting period was 19,434[134]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[4]. - The report includes a discussion on the company's operational risks and corresponding mitigation strategies[4]. - The company faces risks related to the power industry policies, which depend on national economic conditions and investment scales[86]. - The company plans to focus on developing smart distribution networks, clean energy, and new energy generation businesses to mitigate risks[86]. Corporate Governance - The financial report is guaranteed to be true, accurate, and complete by the company's board and management[3]. - All board members attended the meeting to review the report, ensuring collective responsibility[4]. - The financial statements were approved by the board of directors on August 22, 2018, ensuring compliance and accuracy in reporting[187]. Research and Development - The company has developed 83 proprietary or cooperative patented technologies, with 13 patents obtained in the first half of 2018[37]. - The company is enhancing its R&D capabilities by establishing a digital technology R&D department to focus on digital design and lifecycle management[50]. - The company aims to become a technology leader in smart distribution networks within Fujian Province, enhancing R&D in new materials and technologies[31]. Market Expansion - The company has expanded its market presence across over 20 provinces in China and several countries in Southeast Asia, Africa, and the Middle East[26]. - The company is focused on expanding its engineering and consulting services in the clean energy sector[10]. - The company is actively involved in offshore wind power technology research, having won multiple bids for significant offshore wind projects[38]. Compliance and Reporting - The report outlines the company's commitment to maintaining compliance with the relevant financial reporting standards[9]. - The company prepares financial statements based on the going concern principle, adhering to the accounting standards issued by the Ministry of Finance and relevant regulations[190]. - The financial report for the first half of 2018 was not audited[147]. Community Engagement - In the first half of 2018, the company donated CNY 100,000 worth of books to a primary school as part of its educational poverty alleviation efforts[124]. - The company plans to continue supporting poverty alleviation through initiatives like village-enterprise pairing and educational support[126].

Dividend Distribution - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares to all shareholders, based on a total of 140,080,000 shares [5]. - The cash dividend represents 18.20% of the net profit attributable to shareholders, which is RMB 76,966,118.46 for the year 2017 [152]. - The total distributable profit as of December 31, 2017, is RMB 156,095,256.95, after accounting for a 10% legal surplus reserve of RMB 6,733,228.79 [149]. - The company’s profit distribution plan for 2017 is consistent with its articles of association and dividend management measures [145]. - The remaining undistributed profits will be carried forward to future years [149]. Financial Performance - The company’s operating revenue for 2017 was ¥564,396,520.28, representing a 26.91% increase compared to ¥444,714,055.19 in 2016 [19]. - The net profit attributable to shareholders for 2017 was ¥76,966,118.46, a 5.00% increase from ¥73,299,462.99 in the previous year [19]. - The total assets at the end of 2017 reached ¥1,202,239,854.29, a 49.05% increase from ¥806,582,943.77 in 2016 [20]. - The net assets attributable to shareholders increased by 107.56% to ¥870,398,416.27 from ¥419,342,297.81 in the previous year [20]. - The company achieved operating revenue of 564.40 million yuan, an increase of 26.91% year-on-year [48]. Operational Highlights - The report includes a detailed analysis of operational performance and financial indicators, which are crucial for investor assessment [7]. - The company is actively engaged in expanding its market presence and enhancing its service offerings in the energy sector [10]. - The company has established a comprehensive approach to project design, procurement, and construction management [10]. - The company has formed a research center for offshore wind power, focusing on key technology development and has obtained 19 utility model patents in this area [36]. - The company has established stable partnerships with major state-owned enterprises, enhancing its project coverage across various energy sectors [38]. Research and Development - The company invested a total of ¥14,855,522.17 in R&D, accounting for 2.63% of its operating revenue in 2017 [77]. - The number of R&D personnel increased to 70, representing 11.15% of the total workforce [77]. - The company has obtained 15 patents for inventions and utility models in 2017, contributing to a total of 72 patented technologies developed through independent and collaborative efforts [36]. - The company is preparing to establish a smart energy R&D department to explore new technologies in multi-energy complementarity and energy storage [57]. - The company plans to enhance its technology capabilities in clean energy and smart grid sectors through ongoing R&D efforts [75]. Market Strategy - The company plans to focus on the development of offshore wind power as a strategic direction, enhancing its core competitiveness in clean energy and new energy sectors [30]. - The company aims to leverage its advantages in qualifications, brand, and management to expand market share and cultivate new clients [120]. - The company will actively seek investment opportunities in renewable and clean energy sectors and pursue acquisitions to expand its main business [122]. - The company intends to deepen its main business in power survey and design, focusing on clean energy and smart distribution networks [128]. - The company will optimize its organizational structure to improve profitability and enhance operational efficiency [129]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report [4]. - The company recognizes risks related to policy changes in the power industry and plans to adapt its strategies accordingly [133]. - The company will enhance its project management capabilities to mitigate risks associated with project execution [134]. - The company is aware of potential risks from increased fixed asset depreciation and intangible asset amortization and aims to ensure stable business growth to offset these impacts [139]. - The company has implemented a comprehensive internal control system and modernized its management practices to improve operational efficiency [41]. Governance and Compliance - The board of directors confirmed the accuracy and completeness of the annual report, ensuring no false statements or omissions [3]. - The company has engaged Lixin Accounting Firm for auditing services, with an annual fee of 600,000 yuan, ensuring compliance and transparency in financial reporting [171]. - The company has committed to fulfilling its obligations to minority shareholders, ensuring timely and accurate disclosures [165]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period, indicating strong governance [166]. - The company has established a framework for managing potential conflicts of interest among its controlling shareholders and management [156]. Future Outlook - The company aims to achieve a revenue of 700 million yuan and a net profit of 80 million yuan for 2018 [127]. - The company will increase investment in offshore wind power research and development, focusing on key technologies to maintain a leading position in the field [121]. - The company plans to strengthen its core competitiveness by enhancing human resource development and attracting high-end talent [123]. - The company will continue to explore international cooperation opportunities under the "Belt and Road" initiative, with a contract amount of USD 27.5 billion for projects in 52 countries [110]. - The company plans to enhance core competitiveness by increasing investment in new technology research and development and focusing on talent acquisition and training [119].

Financial Performance - Total revenue for Q1 2018 was ¥128,784,251.08, an increase of 17.44% compared to ¥109,655,503.02 in the same period last year[7]. - Net profit attributable to shareholders was ¥17,931,210.79, reflecting a 4.91% increase from ¥17,092,782.95 year-on-year[7]. - Net profit excluding non-recurring gains and losses was ¥17,688,483.30, up 15.71% from ¥15,287,211.25 in the previous year[7]. - Basic earnings per share decreased by 21.33% to ¥0.1280 from ¥0.1627 year-on-year[7]. - The company achieved operating revenue of 128.78 million yuan in Q1 2018, representing a year-on-year growth of 17.44%[29]. - The net profit attributable to shareholders was 17.93 million yuan, an increase of 4.91% compared to the same period last year[29]. - The company's net profit for the current period was ¥21,674,271.18, compared to ¥19,780,703.40 in the previous period, reflecting a growth of approximately 7.1%[64]. - The total comprehensive income for the first quarter was CNY 14,840,351.01, compared to CNY 13,080,210.57 in the previous year, showing an increase of about 13.5%[71]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥104,859,913.87, worsening by 105.12% compared to -¥51,121,778.31 in the same period last year[7]. - The company's cash and cash equivalents decreased by 40.80% from the beginning of the year, primarily due to a net cash flow reduction of 39.92 million RMB from operating activities and a decrease of 40.61 million RMB from financing activities[22]. - Cash flow from operating activities was 161.24 million yuan, up 40.02% year-on-year, primarily due to increased prepayments for equipment and expanded EPC contract revenue[26]. - The net cash flow from operating activities was -104.86 million yuan, a decline of 105.12% year-on-year, attributed to complex payment approval processes and increased cash outflows for project contracts[26]. - Cash and cash equivalents at the end of the period were CNY 119,943,452.21, down from CNY 202,617,016.85 at the beginning of the period[49]. - The ending balance of cash and cash equivalents was 95,158,120.05 CNY, down from 184,767,479.08 CNY at the beginning of the period[79]. - The company experienced a net decrease in cash and cash equivalents of -89,609,359.03 CNY during the period[79]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,181,824,688.98, a decrease of 1.70% from ¥1,202,239,854.29 at the end of the previous year[7]. - Total assets decreased to CNY 1,181,824,688.98 from CNY 1,202,239,854.29[51]. - Total liabilities decreased from ¥448,126,383.29 to ¥425,355,689.44, a reduction of about 5.1%[59]. - Current liabilities decreased to CNY 293,495,061.92 from CNY 331,841,438.02, reflecting a reduction in short-term obligations[52]. Receivables and Inventory - The accounts receivable increased by 50% compared to the beginning of the year, reaching 450,000 RMB, due to the recovery of bank acceptance bills[22]. - Accounts receivable rose to ¥314,375,256.83 from ¥269,326,761.46, an increase of approximately 16.7%[57]. - Inventory levels increased from ¥132,702,475.18 to ¥170,677,591.29, reflecting a growth of about 28.6%[57]. Operational Developments - The company is focusing on developing smart distribution networks and clean energy to align with national energy policies[10]. - The company is enhancing project management capabilities to mitigate risks associated with project execution and receivables management[11][12]. - The company plans to improve its overseas project management and risk control systems to address potential execution risks in international markets[13]. - The company established a digital technology R&D center and is preparing to set up a smart energy R&D department to foster new business growth points[28]. - The company strictly executed its 2018 annual business plan, focusing on market demand and enhancing R&D capabilities to improve market share[35]. Financial Management - The company's financial expenses decreased by 121.95% compared to the previous year, primarily due to a reduction in short-term loan interest expenses[24]. - Tax and additional charges increased by 86.18% to 894,252.97 RMB, mainly due to a decrease in VAT input invoices[24]. - The company reported a financial expense of CNY -563,191.17, a significant decrease from CNY 2,076,526.32 in the previous year[69]. - The company did not conduct any repurchase transactions among its top shareholders during the reporting period[20]. Fundraising and Investments - Total fundraising amount for the quarter reached CNY 37,409 million, with CNY 4,868.24 million invested[40]. - Cumulative change in the use of raised funds amounted to CNY 7,244.24 million, with a 0.00% change ratio[40]. - The total investment cash outflow was 144,069,717.47 CNY, which includes 143,220,000.00 CNY for investment payments[80]. - The company received 40,000,000.00 CNY from borrowings, while cash outflow for debt repayment was 79,410,000.00 CNY, leading to a net cash flow from financing activities of -40,679,727.69 CNY[84].