Financial Performance - The company's revenue for Q3 2022 was ¥97,858,455.36, representing a 16.55% increase compared to the same period last year[7] - The net profit attributable to shareholders for Q3 2022 was -¥4,985,457.56, a decrease of 199.69% year-on-year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥8,081,305.45, down 434.81% from the previous year[7] - The basic earnings per share for Q3 2022 was -¥0.05, a decrease of 200.00% year-on-year[7] - The diluted earnings per share for Q3 2022 was -¥0.04, down 180.00% from the previous year[7] - Operating profit for the current period was -¥10,095,094.15, a decline from a profit of ¥11,595,878.34 in the previous period[33] - Net profit for the current period was -¥9,709,446.39, compared to a profit of ¥10,489,326.45 in the previous period[33] - The company reported a basic earnings per share of -¥0.10, down from ¥0.10 in the previous period[33] - Comprehensive income for the current period was -¥7,585,382.06, compared to ¥10,521,617.71 in the previous period[33] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,242,182,482.82, an increase of 39.17% compared to the end of the previous year[7] - The company reported a total liability of ¥1,527,507,680.94, significantly higher than ¥883,909,291.65 in the previous period[28] - Current liabilities totaled ¥522,385,172.29, an increase from ¥339,209,285.35 in the previous period[28] - Long-term borrowings rose to ¥664,079,998.19, compared to ¥242,000,000.00 in the previous period[28] - The total equity attributable to shareholders at the end of the reporting period was ¥714,674,809.88, a decrease of 1.72% compared to the end of the previous year[7] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥91,831,937.67, reflecting a 2.73% increase compared to the same period last year[7] - Cash inflow from operating activities totaled $184,476,519.07, an increase of 41% from $130,807,814.09 in the previous period[39] - Cash outflow from operating activities amounted to $276,308,456.74, up from $225,216,027.67, resulting in a net cash flow from operating activities of -$91,831,937.67[39] - The company’s cash flow from operating activities showed a slight improvement, with a decrease in net cash outflow compared to the previous period[39] Investments - Cash inflow from investment activities was $163,410,293.24, compared to $146,166,177.72 in the previous period, while cash outflow for investments rose significantly to $739,050,707.77 from $590,966,401.14[39] - The net cash flow from investment activities was -$575,640,414.53, worsening from -$444,800,223.42 in the previous period[39] Financing Activities - Cash inflow from financing activities reached $723,679,998.19, an increase from $560,109,179.80 in the previous period[41] - Cash outflow from financing activities was $172,521,213.46, up from $60,096,680.44, leading to a net cash flow from financing activities of $551,158,784.73[41] - The company received $578,679,998.19 in cash from borrowings, compared to $560,000,000.00 in the previous period[41] Operational Metrics - The weighted average return on net assets was -0.70%, a decrease of 1.42% year-on-year[7] - Research and development expenses decreased to ¥12,079,658.33 from ¥15,463,892.75 in the previous period, indicating a reduction in R&D investment[31] Government Support - The company received government subsidies amounting to ¥2,805,600.53 during the reporting period, primarily for technology innovation and other projects[8] Shareholder Actions - The company plans to issue between 10 million and 30 million shares to a specific investor, Zhang Xinguang, with expected fundraising between RMB 117.7 million and RMB 353.1 million[20] - The company has approved a restricted stock incentive plan, which aims to enhance employee motivation and retention[22]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥144,063,029.51, representing a 6.80% increase compared to ¥134,889,784.39 in the same period last year[28]. - The net profit attributable to shareholders for the first half of 2022 was -¥4,723,980.83, a decrease of 186.07% from ¥5,488,241.79 in the previous year[28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥9,242,388.90, down 428.75% from ¥2,811,375.40 in the same period last year[28]. - The net cash flow from operating activities was -¥74,860,892.61, which is a decline of 32.61% compared to -¥56,452,939.17 in the previous year[28]. - The total assets at the end of the reporting period were ¥2,057,039,081.50, an increase of 27.68% from ¥1,611,113,628.78 at the end of the previous year[28]. - The net assets attributable to shareholders at the end of the reporting period were ¥717,977,682.50, a decrease of 1.27% from ¥727,204,337.13 at the end of the previous year[28]. - The basic earnings per share for the first half of 2022 was -¥0.05, a decrease of 200.00% from ¥0.05 in the same period last year[28]. - The diluted earnings per share for the first half of 2022 was -¥0.04, down 180.00% from ¥0.05 in the previous year[28]. - The weighted average return on net assets was -0.65%, a decrease of 1.47% from 0.82% in the same period last year[28]. Revenue and Costs - The cost of goods sold increased by 19.83% to ¥117,472,988.34 from ¥98,035,207.67, indicating rising operational costs[63]. - Research and development expenses decreased by 14.86% to ¥8,059,816.40 from ¥9,466,520.34, reflecting a reduction in investment in innovation[63]. - The resource recycling products generated revenue of ¥87,810,412.64, down 18.98% year-on-year, with a gross margin of 14.77%[63]. - The hazardous waste treatment service revenue was ¥11,548,614.69, a decrease of 12.11%, with a gross margin of 0.87%[63]. Strategic Focus and Innovation - The company focuses on hazardous waste treatment and resource utilization, with a strategic emphasis on expanding into international markets, particularly in India, Asia-Pacific, and the Middle East[37]. - The company is actively developing new technologies, including industrial waste sulfuric acid chemical chain recycling and industrial flue gas desulfurization technologies, to enhance its service offerings and create new profit growth points[38]. - The company emphasizes self-innovation to enhance competitiveness and industry position, aiming to lead in green environmental protection and circular economy development[42]. - The company is focusing on technological innovation to enhance its competitive edge in the environmental protection sector, with ongoing projects in chemical recycling and waste treatment technologies[58]. Environmental Commitment - The company aims to achieve a 10% reduction in nitrogen oxide emissions by 2025, in line with national environmental policies, which presents opportunities for growth in the industrial environmental protection sector[39]. - The company is committed to sustainable development by extending its environmental governance business across multiple industries to minimize environmental impact[38]. - The company is committed to environmental responsibility, ensuring compliance with pollution discharge standards and actively monitoring its emissions[130]. - The company generates pollutants mainly including wastewater, waste gas, and waste materials, adhering to local environmental standards for discharge[136]. Financial Management and Investments - The company reported a significant increase in cash flow from financing activities, amounting to ¥439,188,587.84, up 165.78% from ¥165,244,718.88, mainly due to increased borrowings[63]. - The total amount of raised funds is 610.43 million RMB, with 47.79 million RMB invested during the reporting period[84]. - The cumulative investment of raised funds reached 363.66 million RMB, with 24.88% of the total raised funds repurposed[84]. - The company has invested RMB 3,000 million in bank wealth management products, with an outstanding balance of RMB 2,000 million[98]. Operational Challenges - The company faces significant risks due to fluctuations in the macroeconomic environment, including the impact of the COVID-19 pandemic and international uncertainties, prompting a focus on strategic adjustments and cost reduction measures[106]. - Increased competition in the industry has pressured the company's business expansion, leading to a strategy of diversifying product offerings and enhancing cooperation with state-owned enterprises[107]. - An increase in accounts receivable has been observed, leading to potential liquidity risks; the company plans to strengthen receivables management to mitigate this risk[113]. - The company is expanding its operations across multiple locations, which presents management challenges; adjustments to organizational structure and incentive mechanisms are planned to enhance operational efficiency[114]. Corporate Governance and Shareholder Relations - The company has not declared any cash dividends or stock bonuses for the half-year period, focusing on reinvestment strategies[120]. - The company has undergone significant management changes, with new appointments for the chairman and general manager to drive future growth[120]. - The company is committed to protecting shareholders' rights and ensuring equal treatment for all shareholders[148]. - The company has fulfilled all commitments made during its initial public offering and refinancing, including dividend commitments and stock price stabilization commitments[155]. Compliance and Legal Matters - The company has not experienced any bankruptcy reorganization matters during the reporting period[173]. - The company has not engaged in any related party transactions during the reporting period[177]. - There were no significant lawsuits or arbitration matters during the reporting period[171]. - The company has not issued any non-standard audit reports for the previous year[172].

Financial Performance - The company's operating revenue for Q1 2022 was ¥51,331,924.55, a decrease of 24.34% compared to ¥67,845,131.02 in the same period last year[2]. - The net profit attributable to shareholders was -¥5,483,792.05, representing a decline of 226.49% from ¥4,335,419.53 year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥7,391,083.68, a decrease of 333.76% compared to ¥3,161,856.66 in the previous year[2]. - Basic and diluted earnings per share were both -¥0.05, a decrease of 225.00% from ¥0.04 in the previous year[2]. - The total comprehensive income attributable to the parent company was -5,492,447.40 CNY, compared to 4,525,265.24 CNY in the previous period[18]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥35,160,812.94, which is an 84.00% decline from -¥19,109,412.10 in the same period last year[2]. - Cash inflow from operating activities totaled 34,666,112.48 CNY, a decrease from 37,815,650.25 CNY year-over-year[21]. - Net cash outflow from operating activities was -35,160,812.94 CNY, compared to -19,109,412.10 CNY in the previous period[22]. - Cash inflow from investment activities was 85,214,003.93 CNY, while cash outflow was 222,889,751.35 CNY, resulting in a net cash outflow of -137,675,747.42 CNY[22]. - Cash inflow from financing activities was 178,821,294.90 CNY, compared to 160,000,000.00 CNY in the previous period[22]. - The ending balance of cash and cash equivalents was 144,356,034.72 CNY, down from 179,967,782.55 CNY in the previous period[22]. - The company's cash and cash equivalents decreased from RMB 224.45 million at the beginning of the year to RMB 163.37 million at the end of the period, a decline of approximately 27.2%[13]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,722,225,241.32, an increase of 6.90% from ¥1,611,113,628.78 at the end of the previous year[2]. - Non-current liabilities rose to CNY 651,978,674.91, compared to CNY 544,700,006.30, marking an increase of 19.6%[15]. - The total liabilities of the company reached CNY 1,000,464,375.04, up from CNY 883,909,291.65, reflecting an increase of 13.2%[15]. - The equity attributable to shareholders of the parent company decreased to CNY 721,760,866.28 from CNY 727,204,337.13, a decline of 0.6%[15]. - Shareholders' equity attributable to the parent company was ¥721,760,866.28, a slight decrease of 0.75% from ¥727,204,337.13 at the end of the previous year[2]. Operational Challenges - The decline in revenue was mainly attributed to the impact of the COVID-19 pandemic, affecting the operational rates of downstream customers and logistics[7]. - The company faced significant impacts on sales and revenue due to COVID-19 outbreaks and logistics disruptions, leading to a decrease in performance[10]. Strategic Initiatives - The company is actively expanding its market and improving internal management to enhance cost control and profitability[10]. - The company plans to continue its focus on cost reduction and efficiency improvement to strengthen its core competitiveness[10]. - The company has issued convertible bonds, which began trading on July 26, 2021, with a conversion period until July 6, 2027[10]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 11,838[8]. - The total number of restricted shares at the beginning of the period was 30,117,946, with 2,229,196 shares released during the period[11]. Research and Development - Research and development expenses for Q1 2022 were CNY 3,485,687.96, a decrease of 14.9% from CNY 4,098,309.02 in the previous year[17]. Inventory and Receivables - Accounts receivable increased from RMB 100.59 million to RMB 115.85 million, representing a growth of about 15.1%[13]. - The company's inventory rose from RMB 85.09 million to RMB 115.98 million, an increase of approximately 36.5%[13]. Audit Status - The report was not audited, indicating that the figures may be subject to change upon further review[23].

Financial Performance - In 2021, the company achieved total operating revenue of 284.86 million yuan, a year-on-year decrease of 12.04%[5] - The total profit for 2021 was 14.22 million yuan, down 55.64% compared to the previous year[5] - The net profit for 2021 was 11.75 million yuan, reflecting a decline of 56.49% year-on-year[5] - The company's operating revenue for 2021 was ¥284.86 million, a decrease of 12.04% compared to ¥323.86 million in 2020[28] - The net profit attributable to shareholders for 2021 was ¥11.75 million, down 56.49% from ¥27.02 million in 2020[28] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥4.67 million, a decline of 76.30% from ¥19.69 million in 2020[28] - The net cash flow from operating activities was -¥125.30 million, a significant decrease of 420.34% compared to ¥39.11 million in 2020[28] - The weighted average return on equity for 2021 was 1.70%, a decrease of 2.41% from 4.11% in 2020[28] - The company reported a total of ¥7.09 million in non-recurring gains and losses for 2021, slightly down from ¥7.33 million in 2020[39] Market Conditions and Challenges - The decline in performance was primarily due to the impact of industry adjustments on major refining customers, leading to the shutdown of several key clients[5] - The ongoing COVID-19 pandemic and rising raw material costs have also contributed to the significant drop in profits[6] - The company faced increased competition and reduced sales prices to secure orders, further impacting profitability[6] - The decline in revenue and profit was primarily due to the impact of the Yulong Island refining and chemical integration project, which led to the shutdown of several key customers[76] - Increased competition in the industry due to macroeconomic volatility and changes in industry policies has pressured the company's business expansion efforts[160] - The company is exposed to risks related to the implementation and changes in environmental policies, which directly affect market demand in the environmental protection sector[161] - Rising costs of key materials due to multiple factors, including the pandemic and energy consumption controls, pose a risk to the company's product costs[164] Strategic Initiatives and Future Plans - The company plans to distribute a cash dividend of 0.50 yuan per 10 shares to all shareholders, based on a total of 100 million shares[8] - The company plans to focus on international market expansion, particularly in India, Asia-Pacific, and the Middle East, where there are no local catalyst manufacturers[43] - The company is currently working on new projects, but the production capacity has not yet been released, affecting overall performance[6] - The company is actively developing new projects, including a 30,000 tons/year FCC catalyst solid waste regeneration project and a 40,000 tons/year FCC catalyst new material project[80] - The company aims to enhance its core competitiveness and operational performance by leveraging customer resources and technological advantages[47] - The company plans to strengthen cooperation with state-owned enterprises and expand into international markets in 2022, focusing on diversified product sales[155] - The company aims to enhance its R&D capabilities and promote technologies such as industrial waste sulfuric acid chemical chain recycling and industrial flue gas desulfurization without catalysts in 2022[155] - The company plans to leverage capital markets for refinancing to optimize its financial structure and improve resource allocation[156] Research and Development - The company is enhancing its R&D efforts in technologies for industrial waste sulfuric acid recycling and industrial flue gas desulfurization, aiming to establish new profit growth points[44] - Continuous investment in R&D has been emphasized, with breakthroughs in technologies such as industrial waste sulfuric acid chemical chain recycling and high-sulfur petroleum coke hydrogen production[81] - The company's R&D investment amounted to ¥19,943,634.72 in 2021, representing 7.00% of its operating revenue, an increase from 6.30% in 2020[107] - The number of R&D personnel increased by 6.78% to 126 in 2021, with a notable rise in the 30-40 age group by 11.48%[105] - The company has made progress in developing high iron-resistant FCC catalysts, which are expected to meet future market demands[102] Operational Efficiency and Management - The company is enhancing its management and operational efficiency by optimizing its organizational structure and improving business processes[75] - The company aims to strengthen internal management and risk control to ensure stable growth amid expanding business operations[83] - The company is focused on enhancing its governance structure and internal control systems to support sustainable development and strategic goals[82] - The company emphasizes the importance of cash flow management and cost reduction strategies to maintain stable operations and improve profitability[159] Financial Structure and Investments - The company successfully issued convertible bonds totaling up to RMB 320 million, optimizing its financial structure and reducing financial risks[82] - The total investment during the reporting period was ¥819,207,655.48, a significant increase of 107.56% compared to the previous year[123] - The company has invested ¥321,184,837.94 in a new FCC catalytic material project, with 87.07% of the project completed[123] - The company reported a cumulative investment of CNY 4.86 million in the 40,000 tons/year FCC catalyst solid waste regeneration project, achieving a progress rate of 3.20%[135] Governance and Compliance - The company has established a transparent performance evaluation and incentive mechanism for senior management, ensuring compliance with relevant laws and regulations[176] - The company has a fully independent financial accounting system and does not share bank accounts with controlling shareholders[180] - The company’s governance structure complies with the Company Law and relevant regulations, ensuring independent operation of its board and management[180] - The company has not engaged in any related party transactions that would compromise its operational independence[177] Customer and Market Engagement - The company reported a total of 17,060,250 shares outstanding as of September 27, 2021[193] - The company has a diverse management team with backgrounds in engineering and environmental technology, enhancing its operational capabilities[198] - The company is focused on expanding its environmental technology services in the market[196] - The company plans to launch two new products in the next quarter, targeting a market share increase of 10% in the environmental technology sector[200]

Revenue and Profitability - Revenue for Q3 2021 was CNY 83,961,262.38, a decrease of 3.57% compared to the same period last year[3] - Net profit attributable to shareholders for Q3 2021 was CNY 5,001,084.66, down 59.06% year-on-year[3] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 2,413,698.25, a decline of 73.46% compared to the previous year[3] - Basic earnings per share for Q3 2021 was CNY 0.05, down 58.32% compared to the same period last year[3] - Total operating revenue for the current period is 218,851,046.77, a decrease from 252,312,774.02 in the previous period[27] - Net profit for the current period is 10,489,326.45, compared to 22,582,776.94 in the previous period, indicating a decline[30] - The total comprehensive income attributable to the parent company was 10,521,617.71 CNY, compared to 22,833,737.28 CNY in the previous period, reflecting a significant decrease[33] - The company reported a basic and diluted earnings per share of 0.10 CNY, down from 0.23 CNY in the previous period, indicating reduced profitability[33] Cash Flow and Liquidity - Cash flow from operating activities for the year-to-date was CNY -94,408,213.58, a decrease of 426.46% year-on-year[3] - The net cash flow from operating activities was -94,408,213.58 CNY, a decline from 28,918,367.34 CNY in the previous period, indicating operational challenges[37] - Cash inflows from operating activities totaled 130,807,814.09 CNY, down 44.5% from 235,721,356.72 CNY in the previous period[34] - Cash outflows from operating activities increased to 225,216,027.67 CNY, compared to 206,802,989.38 CNY in the previous period, highlighting rising operational costs[37] - The net cash flow from investing activities was -444,800,223.42 CNY, worsening from -156,723,415.94 CNY in the previous period, indicating increased investment expenditures[37] - Cash inflows from financing activities amounted to 560,109,179.80 CNY, a significant increase compared to 33,830,000.00 CNY in the previous period, reflecting successful fundraising efforts[37] - The company's cash and cash equivalents as of September 30, 2021, amount to ¥115,840,446.24, a decrease from ¥149,342,494.31 at the end of 2020[20] - The cash and cash equivalents at the end of the period were 98,782,289.19 CNY, down from 112,263,265.23 CNY in the previous period, showing a decrease in liquidity[37] Assets and Liabilities - Total assets at the end of Q3 2021 were CNY 1,489,420,274.38, an increase of 54.75% from the end of the previous year[10] - The total assets amount to 1,489,420,274.38, an increase from 962,485,059.01 in the previous period[26] - Total liabilities are 777,949,679.22, up from 296,524,690.72 in the previous period[26] - Non-current assets total 869,486,975.94, compared to 637,943,946.02 in the previous period[26] - The increase in total assets was mainly due to funds raised from the issuance of convertible bonds[10] Shareholder Information - Shareholders' equity attributable to the parent company was CNY 711,470,595.16, up 6.83% from the end of the previous year[10] - The total number of common shareholders at the end of the reporting period is 13,026, with the largest shareholder, Zhang Xinguang, holding 17.06% of shares, totaling 17,060,250 shares[11] - The number of shares held by the top ten shareholders includes 12,024,450 shares held by Daobojiamei Co., Ltd., representing 12.02% of total shares[11] - The company has a total of 30,115,696 restricted shares, with no new restricted shares added during the reporting period[15] Research and Development - The company is actively engaged in research and development of new technologies to enhance its market position and product offerings[18] - Research and development expenses for the current period are 15,463,892.75, slightly down from 16,126,866.99 in the previous period[30] Operational Performance - The company experienced a significant decline in gross profit due to decreased revenue[6] - Total operating costs for the current period are 213,244,884.79, down from 230,430,047.29 in the previous period[27] - The company reported a decrease in sales expenses to 7,746,602.68 from 8,849,226.97 in the previous period[30] Non-Recurring Items - Non-recurring gains and losses totaled CNY 2,587,386.41 for Q3 2021, primarily from government subsidies and investment income[5] - The company received tax refunds of 3,892,970.76 CNY, compared to 975,503.87 CNY in the previous period, indicating improved tax recovery[34] Capital Structure - The company has received approval for the issuance of convertible bonds, which will enhance its capital structure and funding capabilities[16] - The company has maintained its capital reserve at 399,950,421.90, unchanged from the previous period[26] Leasing Standards - The company did not require adjustments to the balance sheet under the new leasing standards, as there were no significant operating leases[38]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 134,889,784.39, a decrease of 18.37% compared to CNY 165,246,370.21 in the same period last year[26]. - The net profit attributable to shareholders was CNY 5,488,241.79, down 47.07% from CNY 10,368,499.93 year-on-year[26]. - The net profit after deducting non-recurring gains and losses was CNY 2,811,375.40, a decline of 68.64% compared to CNY 8,964,605.81 in the previous year[26]. - The net cash flow from operating activities was negative at CNY -56,452,939.17, a significant drop from CNY 2,013,031.76 in the same period last year, representing a decrease of 2,904.37%[26]. - Basic earnings per share were CNY 0.05, down 50.00% from CNY 0.10 in the previous year[26]. - The company reported total revenue of CNY 134.89 million for the first half of 2021, a decrease of 18.37% compared to the same period last year, which was CNY 165.25 million[58]. - The net profit attributable to shareholders was CNY 548.82 million, down 47.07% from CNY 1.04 million in the previous year[58]. - The company’s hazardous waste treatment service revenue decreased by 46.36% to CNY 13.14 million, with a gross margin of 25.79%[59]. - The company’s operating costs decreased by 16.41% to CNY 98.04 million, reflecting efforts to manage expenses amid declining revenues[59]. - The company’s research and development expenses decreased by 15.27% to CNY 9.47 million, indicating a strategic focus on cost management[63]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,117,706,567.03, an increase of 16.13% from CNY 962,485,059.01 at the end of the previous year[26]. - The net assets attributable to shareholders were CNY 661,468,567.82, a slight decrease of 0.67% from CNY 665,960,368.29 at the end of the previous year[26]. - Short-term loans increased to ¥54,900,000, representing a 4.91% increase due to project funding needs[70]. - Long-term loans reached ¥140,000,000, a 12.53% increase attributed to bank loans for new projects[70]. - Accounts receivable financing rose to ¥24,610,293.14, a 2.20% increase driven by an increase in receivable notes[70]. - The total amount of restricted assets at the end of the reporting period was ¥92,582,686.94, including cash and fixed assets[74]. - The company reported a cumulative investment income of ¥474,438.90 from financial assets during the reporting period[78]. - The company reported a decrease in other payables to ¥40,132,696.76, a 3.59% reduction due to payments for engineering projects[70]. Investment and Financing Activities - The total investment during the reporting period was ¥178,740,752.64, a 46.61% increase compared to the previous year[75]. - The company utilized ¥731.95 million of raised funds during the reporting period, with a cumulative total of ¥14,404.40 million used[79]. - The company plans to use up to CNY 90 million of idle raised funds to supplement working capital, with a usage period not exceeding 12 months[85]. - The company has completed the replacement of CNY 40 million of self-raised funds with raised funds for the projects[85]. - The company plans to issue convertible bonds to raise funds for the construction of a new project with a capacity of 40,000 tons/year for FCC catalyst new materials, which will enhance market competitiveness[107]. Operational Overview - The main business involves hazardous waste treatment services for the petrochemical industry, focusing on the recycling of waste catalysts[37]. - The company holds hazardous waste operation licenses from Shandong and Jiangxi provincial environmental authorities, enabling it to provide waste catalyst disposal services[38]. - The product line includes FCC catalysts, regenerated catalysts, and balance agents, which are tailored to meet diverse customer needs[39]. - The company emphasizes continuous innovation in hazardous waste resource utilization technology to enhance product value[45]. - The procurement strategy is based on a "production-driven" model, optimizing inventory and reducing storage risks[48]. - The company has established a robust R&D framework, focusing on independent development and collaboration with academic institutions[51]. - The core technical team possesses strong expertise in hazardous waste treatment and resource utilization, supporting new product development[51]. - The company’s sales model integrates waste treatment services with product sales, targeting long-term partners and potential clients[47]. - The company has implemented a comprehensive procurement control system to ensure quality and efficiency in raw material sourcing[48]. Market and Growth Strategy - The company is focusing on expanding its product portfolio, including FCC catalyst and solid waste recycling projects, to enhance market share and competitiveness[56]. - The company plans to strengthen its domestic and international market expansion and new business development to ensure sustainable growth[58]. - The company aims to stabilize existing markets while expanding into international markets, targeting major clients like Sinopec and CNOOC[101]. Environmental Compliance - The company emitted a total of 1.55 tons of particulate matter and 7.42 tons of sulfur dioxide in the reporting period, complying with local emission standards[19]. - The average emission concentration for nitrogen oxides was 10.5 mg/m³, also meeting the required standards[19]. - The company generated 9.20 tons of COD and 3.14 tons of SS from wastewater treatment, adhering to the relevant discharge standards[23]. - The company has a valid pollutant discharge permit effective until December 25, 2022[26]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[127]. - The company has implemented an annual environmental monitoring plan in 2020[129]. - The company continues to enhance its environmental protection management and safety production responsibilities[170]. Shareholder Information - The total number of shares before the change was 100,000,000, with 30.85% being restricted shares and 69.15% being unrestricted shares[179]. - The number of restricted shares decreased by 736,116, resulting in a total of 30,115,696 restricted shares, which is 30.12% of the total[179]. - The number of unrestricted shares increased by 736,116, leading to a total of 69,884,304 unrestricted shares, which is 69.88% of the total[179]. - The total number of shareholders at the end of the reporting period was 9,601[184]. - Zhang Xinguo holds 17,060,250 shares, representing 17.06% of the total shares, with 4,500,000 shares pledged[186]. - Daobojiamei Limited holds 12,174,450 shares, representing 12.17% of the total shares[186]. - Qingdao Huicheng Xinde Investment Co., Ltd. holds 10,828,500 shares, representing 10.83% of the total shares, with 2,200,000 shares pledged[186]. - The total number of restricted shares at the end of the period was 30,115,696[183]. - The number of shares released from restriction during the period was 740,766[183]. - The top 10 unrestricted shareholders include Shandong High-tech Venture Capital Co., Ltd. with 3,472,500 shares, accounting for the largest stake[192]. - The second largest shareholder is Zhong Jiangbo, holding 1,700,000 shares, representing approximately 4.9% of total shares[192]. Corporate Governance - There were no changes in the board of directors, supervisors, or senior management during the reporting period[2]. - The company reported no implementation of stock incentive plans or employee stock ownership plans during the reporting period[4]. - The company did not engage in any repurchase agreements during the reporting period[193]. - There were no changes in the shareholding of directors, supervisors, and senior management during the reporting period[194]. - The controlling shareholder and actual controller remained unchanged during the reporting period[195]. - The company has not engaged in any major related party transactions during the reporting period[145]. - The company has not reported any penalties or rectification measures during the reporting period[144]. Risk Management - The company faces operational risks and has outlined measures to mitigate these risks in the management discussion section[6]. - The company is addressing risks related to management and internal controls as it expands its operations[106]. - The company has not encountered any significant risks related to contract performance during the reporting period[162].

Financial Performance - The company's operating revenue for Q1 2021 was ¥67,845,131.02, a decrease of 9.23% compared to ¥74,744,470.89 in the same period last year[8]. - Net profit attributable to shareholders was ¥4,335,419.53, representing a significant increase of 186.58% from ¥1,512,827.05 year-on-year[8]. - The net profit after deducting non-recurring gains and losses was ¥3,161,856.66, up 162.61% from ¥1,204,002.88 in the previous year[8]. - The basic earnings per share rose to ¥0.04, doubling from ¥0.02 in the same period last year[8]. - The total operating revenue for the current period is ¥64,420,534.40, a decrease of 10.5% compared to ¥71,945,527.65 in the previous period[88]. - The net profit for the current period is ¥7,237,393.34, an increase of 67.5% from ¥4,313,823.83 in the previous period[91]. - The total comprehensive income for the current period is ¥4,525,265.24, compared to ¥1,763,917.07 in the previous period[87]. Assets and Liabilities - The company's total assets increased by 12.78% to ¥1,085,538,150.97 from ¥962,485,059.01 at the end of the previous year[8]. - The total amount of raised funds is 298.21 million CNY, with 50.92% of the funds having been allocated to different purposes[42]. - The total liabilities increased to CNY 415,052,517.44 from CNY 296,524,690.72, marking an increase of about 40.1%[65]. - The company's equity attributable to shareholders reached CNY 670,485,633.53, up from CNY 665,960,368.29, reflecting a growth of approximately 0.4%[68]. - The company's current assets totaled CNY 438,597,823.80, up from CNY 324,541,112.99, indicating a significant increase of about 35.2%[59]. Cash Flow - The net cash flow from operating activities was -¥19,109,412.10, an improvement of 5.70% compared to -¥20,264,002.14 in the previous year[8]. - The cash inflow from operating activities totaled ¥37,815,650.25, down from ¥54,874,509.26 in the previous period[99]. - The net cash flow from financing activities was 150,152,882.24 CNY, compared to a negative cash flow of -20,636,323.49 CNY in the previous period[101]. - The cash outflow from operating activities was 48,757,163.71 CNY, reduced from 68,926,220.24 CNY, indicating a decrease of about 29.2%[102]. Shareholder Information - The total number of shareholders at the end of the reporting period was 10,806, with the top ten shareholders holding significant stakes[12]. - Zhang Xinguo, a major shareholder, holds 17.06% of the shares, amounting to 17,060,250 shares[12]. Government Support and Subsidies - The company received government subsidies amounting to ¥1,088,255.71 during the reporting period, primarily for project funding[8]. Strategic Initiatives - The company plans to focus on expanding its market presence internationally, particularly targeting high-quality clients such as Sinopec and China National Petroleum[27]. - The company is focusing on the development of new technologies for waste catalyst resource utilization, including industrial waste sulfuric acid recycling technology and high-sulfur petroleum coke hydrogen production technology[29]. - The company is enhancing its management and talent development systems to match its expanding scale and operational needs[33]. Risks and Challenges - The company is facing risks from international trade frictions, particularly between China and the U.S., which may impact international customer demand[28]. Investment and Projects - The company signed an acquisition agreement to purchase 100% equity of Qingdao Hengyuan Chemical Co., Ltd. from Yangquan Coal Chemical Group for cash[35]. - The company is expanding its project construction, including a 30,000 tons/year FCC catalyst solid waste regeneration project and a 40,000 tons/year FCC catalyst new materials project[34]. - The cumulative investment in the 10,000 tons/year industrial solid waste treatment and resource utilization project is 96.64 million CNY, with 34.80 million CNY sourced from raised funds[45].

Financial Performance - The company's operating revenue for 2020 was ¥323,859,660.14, a decrease of 5.80% compared to ¥343,794,748.38 in 2019[22]. - The net profit attributable to shareholders for 2020 was ¥27,015,193.74, down 36.97% from ¥42,859,266.44 in 2019[22]. - The net cash flow from operating activities was ¥39,113,881.29, reflecting a decline of 31.87% from ¥57,408,301.11 in the previous year[22]. - Basic earnings per share for 2020 were ¥0.27, a decrease of 43.75% compared to ¥0.48 in 2019[22]. - The company reported a weighted average return on equity of 4.11% for 2020, down from 8.30% in 2019[22]. - The net profit after deducting non-recurring gains and losses for 2020 was ¥19,687,705.45, a decrease of 46.98% from ¥37,134,194.15 in 2019[22]. - The total operating revenue for 2020 was ¥323,859,660.14, a decrease of 5.80% compared to ¥343,794,748.38 in 2019[84]. - The revenue from resource comprehensive utilization products was ¥266,293,372.75, accounting for 82.22% of total revenue, down 1.87% from ¥271,362,001.23 in 2019[84]. - The revenue from hazardous waste treatment services was ¥38,338,570.35, representing 11.84% of total revenue, a decrease of 1.30% from the previous year[84]. - The company's revenue from the waste resource comprehensive utilization industry was CNY 318,710,868.74, a decrease of 5.09% compared to the same period last year[87]. Assets and Investments - Total assets at the end of 2020 amounted to ¥962,485,059.01, an increase of 4.43% from ¥921,689,154.22 at the end of 2019[22]. - The net assets attributable to shareholders at the end of 2020 were ¥665,960,368.29, up 2.62% from ¥648,939,964.21 at the end of 2019[22]. - The company's intangible assets increased by CNY 56.56 million, a growth of 104.97% compared to the previous year, mainly due to the acquisition of land use rights for new projects[56]. - Construction in progress increased by CNY 80.69 million, a growth of 201.75% year-on-year, primarily due to new construction projects[56]. - Long-term equity investments increased by CNY 15 million, a growth of 100%, primarily due to investments in Shandong Huiya by Beihai Huicheng[56]. - The company's fixed assets were valued at ¥322,138,605.92, making up 33.47% of total assets, with no significant changes reported[121]. - The total investment amount for the reporting period was ¥394,679,276.06, representing a 204.12% increase compared to ¥129,775,661.99 in the same period last year[128]. - The company made significant non-equity investments, including ¥100,000,000 in Jiujiang Huicheng Environmental Technology Co., Ltd., and ¥30,000,000 in Shandong Huiya Environmental Technology Co., Ltd.[132]. Cash Flow - The net cash flow from operating activities decreased by 31.87% to ¥39,113,881.29 compared to ¥57,408,301.11 in the previous year[113]. - The net cash flow from investing activities significantly worsened by 174.47%, resulting in a net outflow of ¥130,115,177.39, primarily due to land purchases and project construction expenses[113]. - The net cash flow from financing activities dropped by 113.98%, leading to a net outflow of ¥32,460,079.20, mainly due to the previous year's fundraising activities[113]. - The total cash and cash equivalents decreased by 151.20%, amounting to a net decrease of ¥123,933,737.35, attributed to reduced cash flows from operating, investing, and financing activities[113]. - The company's cash and cash equivalents at the end of the year were ¥149,342,494.31, representing 15.52% of total assets, down from 29.59% at the beginning of the year[118]. Research and Development - The company applied for 42 patents in 2020, with 28 patents granted and published[70]. - The company conducted 40 R&D projects, focusing on product diversification and functionality improvements[106]. - R&D investment amounted to ¥20,409,716.73, representing 6.30% of operating revenue, an increase from 5.71% in 2019[108]. - The number of R&D personnel increased to 118, making up 25.38% of the total workforce[108]. - Four R&D projects, including the development of a new generation of propylene additives, have completed the development phase and entered trial production[112]. Market and Business Strategy - The company specializes in hazardous waste treatment services for the petrochemical industry, focusing on the recycling of waste catalysts and the production of resource utilization products[36]. - The company aims to expand its market presence internationally, particularly in regions like India and the Middle East, where there are no local catalyst producers[52]. - The global demand for FCC catalysts is expected to grow at an annual rate of 3% to 4% in the coming years, driven by increased fuel consumption in China, India, and the Middle East[57]. - The company is focusing on sustainable development and innovation in waste resource utilization technologies to address environmental challenges[52]. - The company aims to enhance its market position and profitability through the development of solid waste disposal and resource utilization technologies[106]. Corporate Governance and Compliance - The company has established a complete governance structure to ensure effective decision-making and supervision among shareholders, the board, and management[74]. - The company has committed to enhancing its corporate governance and internal control systems to ensure compliance and effective management practices[166]. - The company has fulfilled all commitments made by its actual controllers and shareholders during the reporting period[188]. Dividend Policy - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares, totaling CNY 10,000,000.00, which represents 100% of the distributable profit[181]. - The total distributable profit for the year is CNY 141,610,656.35, with the cash dividend amounting to 37.02% of the net profit attributable to ordinary shareholders[187]. - The company has committed to maintaining a minimum cash dividend ratio of 20% during its growth phase with significant capital expenditures[182]. - The cash dividend for 2020 is pending approval from the shareholders' meeting[186]. - The company has consistently distributed dividends over the past three years, with the most recent being CNY 10,000,000.00 for 2020[187].

Financial Performance - Operating revenue for the period was ¥87,066,403.81, reflecting a 0.51% increase year-on-year[8] - Net profit attributable to shareholders was ¥12,214,277.01, a significant increase of 27.12% compared to the same period last year[8] - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥9,095,744.96, down 3.65% year-on-year[8] - Basic earnings per share were ¥0.12, up 20.00% from the same period last year[8] - The company reported a net profit of ¥138,038,880.07, up from ¥128,678,035.85, representing a growth of 7.77%[46] - Net profit for the current period was ¥12,214,277.01, up from ¥9,608,680.45 in the previous period, reflecting a significant growth[61] - The total comprehensive income for the current period was ¥12,214,668.90, compared to ¥9,633,407.47 in the previous period[64] - Net profit for the period reached ¥22,582,776.94, down from ¥39,692,713.41 in the previous period, indicating a decline of approximately 43%[74] - Basic earnings per share were ¥0.23, compared to ¥0.46 in the previous period, showing a 50% decrease[79] - The total comprehensive income for the period was ¥22,833,737.28, down from ¥39,734,259.37 in the previous period[79] - The net profit for the current period is ¥32,219,327.20, down 26.2% from ¥43,647,404.18 in the previous period[85] - The total profit for the current period is ¥36,268,894.48, a decrease of 29.1% compared to ¥51,172,102.54 in the previous period[82] Cash Flow - The net cash flow from operating activities was ¥26,905,335.58, showing a substantial increase of 95.61% compared to the previous year[8] - The company experienced a 50.07% decline in net cash flow from operating activities, which fell to ¥28,918,367.34 from ¥57,912,753.77, attributed to higher receivables in the previous year[25] - The cash flow from operating activities is ¥28,918,367.34, a decline of 50.1% compared to ¥57,912,753.77 in the previous period[88] - The cash flow from investment activities shows a net outflow of ¥156,723,415.94, compared to a net outflow of ¥117,801,268.76 in the previous period[91] - Cash inflow from operating activities totals ¥228,931,251.07, down from ¥243,691,266.32 in the previous period[94] - The company received cash inflow from operating activities totaling ¥235,721,356.72, down 7.9% from ¥255,913,067.55 in the previous period[88] - The cash flow from financing activities has a net outflow of ¥21,625,941.91, contrasting with a net inflow of ¥199,622,402.26 in the previous period[91] - The net increase in cash and cash equivalents for the current period is -$145,636,375.02, contrasting with an increase of $115,233,338.17 in the previous period[97] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥925,277,199, representing a 0.39% increase compared to the previous year[8] - Total liabilities amounted to ¥263,503,497.51, down from ¥272,749,190.01, indicating a decrease of 3.67%[43] - Current liabilities decreased to ¥177,937,518.15 from ¥191,002,270.25, a reduction of 6.56%[43] - Owner's equity increased to ¥661,773,701.49 from ¥648,939,964.21, reflecting a growth of 1.26%[46] - Total assets reached ¥925,277,199.00, slightly up from ¥921,689,154.22, showing a growth of 0.62%[40] - Non-current assets totaled ¥528,204,518.72, up from ¥476,863,404.79, indicating an increase of 10.77%[40] - The company’s cash and cash equivalents decreased to ¥100,745,960.12 from ¥249,847,399.20, a decline of 59.68%[47] - Total liabilities amounted to ¥272,749,190.01, with non-current liabilities at ¥81,746,919.76[107] - Current assets totaled ¥481,867,173.02, with cash and cash equivalents at ¥249,847,399.20[110] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 12,190[12] - The largest shareholder, Zhang Xinguang, holds 17.06% of the shares, totaling 17,060,250 shares[12] Government Support and Subsidies - The company received government subsidies totaling ¥8,448,534.01, primarily related to listing support and R&D funding[8] - Other income increased by 258.16% to ¥8,459,586.56 from ¥2,361,954.12, mainly due to increased government subsidies[22] Investment Activities - Investment activities generated a net cash outflow of ¥156,723,415.94, a 33.04% increase compared to ¥117,801,268.76, mainly due to investments in bank wealth management products[25] - The company signed an acquisition intention agreement to purchase 100% equity of Qingdao Hengyuan Chemical Co., Ltd. from Yangmei Chemical Group[26] - The company plans to publicly issue convertible bonds, which was approved in the board meeting on June 24, 2020[27] Research and Development - Research and development expenses decreased to ¥4,954,357.70 from ¥5,686,424.81, indicating a focus on cost management[58] - Research and development expenses increased to ¥16,126,866.99 from ¥13,776,062.82 in the previous period, representing a growth of approximately 17%[72] - The company reported an increase in research and development expenses to ¥14,606,387.89 from ¥13,077,949.63 in the previous period, reflecting a focus on innovation[82] Financial Adjustments and Standards - The company has implemented new revenue recognition standards since January 1, 2020, impacting financial reporting[117] - The third-quarter report was not audited, which may affect the reliability of the figures presented[117]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥165,246,370.21, a decrease of 3.59% compared to ¥171,404,762.23 in the same period last year[21]. - The net profit attributable to shareholders was ¥10,368,499.93, down 65.53% from ¥30,084,032.96 in the previous year[21]. - The net cash flow from operating activities was ¥2,013,031.76, a significant decline of 95.44% compared to ¥44,158,048.40 in the same period last year[21]. - Basic earnings per share decreased by 72.63% to ¥0.104 from ¥0.380 in the previous year[21]. - Total assets at the end of the reporting period were ¥886,302,286.53, down 3.84% from ¥921,689,154.22 at the end of the previous year[21]. - Operating profit was 12.53 million yuan, down 53.87% year-on-year, while total profit decreased by 65.87% to 12.39 million yuan[56]. - The company reported a gross margin of 34.23% for total revenue, a decrease of 5.60% compared to the previous year[64]. Challenges and Outlook - The company faced significant challenges due to the pandemic, impacting both revenue and profit margins[21]. - Future outlook includes a focus on technological innovation and market expansion strategies[21]. - The company plans to raise up to 320 million yuan through the issuance of convertible bonds to fund a new project aimed at expanding production capacity[59]. - The company is actively exploring new financing channels to support new project developments[105]. - The company has successfully navigated the challenges posed by the pandemic, focusing on optimizing market layout and preventing operational risks[102]. Research and Development - R&D investment increased by 38.11% year-on-year to 11.17 million yuan, focusing on catalyst performance improvements and product upgrades[57]. - The company aims to enhance its technological research and development capabilities, production capacity, and service quality to adapt to industry changes and market demands[45]. - The company is focusing on enhancing its R&D capabilities to maintain its technological edge and prevent being replaced by competitors[103]. - The company is leveraging existing technology platforms to accelerate the industrialization of its R&D efforts[105]. Environmental and Resource Management - The company provides waste catalyst treatment services and develops, produces, and sells FCC catalysts, rejuvenated catalysts, and regeneration balancing agents, focusing on resource recycling and environmental protection[32]. - The company’s resource recycling approach aligns with national policies promoting circular economy and waste resource utilization[39]. - The company reported emissions of 1.55 tons/year of particulate matter, 7.42 tons/year of sulfur dioxide, and 4.45 tons/year of nitrogen oxides, all within regulatory standards[141]. - The company’s wastewater meets the B-level standards for discharge into municipal sewage systems[149]. - The company’s hazardous waste, including ion exchange regeneration sludge and waste ion exchange resin, is disposed of by qualified third-party units[149]. Market Position and Strategy - The company holds a hazardous waste operating license and offers customized products based on clients' diverse needs for diesel, clean gasoline, and olefins[32]. - The company’s unique business model integrates hazardous waste disposal and resource recycling, creating a virtuous cycle between waste treatment and catalyst sales[41]. - The company’s products have gained recognition from major clients such as Sinopec and PetroChina, leading to an increasing market share[45]. - The expected increase in refining capacity in China will add 52 to 77 million tons per year of catalytic cracking capacity, significantly boosting catalyst demand[44]. - The company aims to solidify existing markets while expanding into international markets, particularly targeting high-quality clients such as Sinopec and CNOOC[102]. Financial Management and Investments - The total amount of raised funds was ¥298,212,300.00, with ¥6,579,400.00 invested during the reporting period and a cumulative investment of ¥134,463,600.00[81]. - The company has not encountered any legal violations regarding the management and use of raised funds during the reporting period[81]. - The company has not engaged in derivative investments or entrusted loans during the reporting period[96][98]. - The total amount of entrusted financial management was 80 million yuan, with a balance of 80 million yuan remaining as of the reporting date[92]. - The company plans to publicly issue convertible bonds, as approved in a board meeting on June 24, 2020[153]. Shareholder Structure and Changes - The total number of shares after the recent changes is 100,000,000, with 30,851,812 shares now under limited sale conditions, representing 30.85% of the total[160]. - The largest shareholder, Zhang Xinguang, holds 17,060,250 shares, representing 17.06% of the total shares[168]. - Foreign investment in the company has been completely eliminated, with 13,310,250 shares previously held by foreign entities now reduced to 0[164]. - The company has seen a significant reduction in shares held by state-owned entities, with a decrease of 3,472,500 shares, now leaving no state-owned shares[164]. - The company has not distributed cash dividends or bonus shares for the half-year period[109]. Legal and Compliance - The company reported a lawsuit involving an amount of CNY 495,000, which was ruled in favor of the company, but the judgment has not been fully executed[119]. - There were no significant penalties or rectifications during the reporting period[121]. - The company is compliant with the regulations set by the China Securities Regulatory Commission regarding the issuance of shares[162]. - The company has not reported any issues or other situations regarding the use and disclosure of fundraising[88].