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].

Financial Performance - Total revenue for Q1 2020 was ¥74,744,470.89, a decrease of 18.13% compared to ¥91,301,598.63 in the same period last year[8]. - Net profit attributable to shareholders was ¥1,512,827.05, down 91.10% from ¥17,002,519.60 year-on-year[8]. - The net profit after deducting non-recurring gains and losses was ¥1,204,002.88, a decline of 92.83% compared to ¥16,795,120.56 in the previous year[8]. - Basic earnings per share decreased by 91.30% to ¥0.02 from ¥0.23 in the same period last year[8]. - Operating profit for the current period is ¥5,403,721.19, down 73.7% from ¥20,487,153.99 in the previous period[72]. - Net profit for the current period is ¥4,313,823.83, a decline of 76.1% compared to ¥17,878,970.47 in the previous period[72]. - Total operating revenue for the first quarter was CNY 74,744,470.89, a decrease from CNY 91,301,598.63 in the previous period[62]. - Total operating revenue for the current period is ¥71,945,527.65, a decrease of 19.8% from ¥89,730,582.97 in the previous period[72]. Assets and Liabilities - Total assets at the end of the reporting period were ¥868,503,098.04, a decrease of 5.77% from ¥921,689,154.22 at the end of the previous year[8]. - Total liabilities decreased by 43.90% to CNY 23 million due to the expiration of notes payable from the previous year and fewer notes issued in Q1[21]. - Total liabilities amounted to CNY 213,295,445.67, down from CNY 263,900,741.95 year-over-year[60]. - Total assets decreased to CNY 877,717,521.76 from CNY 924,008,994.22 compared to the previous year[60]. - The total amount of raised funds during the reporting period is CNY 29,821.23 million, with no changes in usage[33]. - The total cash and cash equivalents decreased by 52,336,243.93 RMB in Q1 2020, compared to a decrease of 1,372,445.50 RMB in the same period last year[82]. Cash Flow - The net cash flow from operating activities was negative at -¥20,264,002.14, a decline of 196.60% compared to ¥20,976,208.48 in the same period last year[8]. - Cash inflow from operating activities is ¥54,874,509.26, down 42.3% from ¥95,069,274.61 in the previous period[76]. - The company reported a cash inflow from financing activities of 1,580,000.00 RMB, compared to 17,990,228.12 RMB in the previous year[82]. - The cash outflow for investing activities was 11,779,757.87 RMB, compared to 10,538,156.38 RMB in Q1 2019[79]. - The net cash flow from investing activities was -11,779,757.87 RMB, a decline from -10,530,359.48 RMB in the same quarter last year[79]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,228[12]. - Net assets attributable to shareholders increased slightly by 0.28% to ¥650,761,421.32 from ¥648,939,964.21 at the end of the previous year[8]. - The company's total equity increased to CNY 664,422,076.09 from CNY 660,108,252.27 year-over-year[60]. - Total equity attributable to shareholders was ¥648,939,964.21, including undistributed profits of ¥128,678,035.85[93]. Government Support and Subsidies - The company received government subsidies amounting to ¥1,179,709.28 during the reporting period[8]. - Other income increased by 131.90% to CNY 1.06 million, due to increased government subsidies and rewards[21]. Research and Development - R&D expenses increased by 64.08% to CNY 5.20 million, driven by increased investment in research and development[21]. - Research and development expenses increased to ¥4,497,606.73, up 53.3% from ¥2,940,142.54 in the previous period[72]. Operational Challenges - The company anticipates a significant impact on financial status and operating results due to uncertainties from the COVID-19 pandemic[38]. - The company reported a loss of CNY 250.9 million in the industrial solid waste project due to low operational rates caused by the pandemic[33]. Compliance and Reporting - The company has not reported any violations regarding external guarantees during the reporting period[39]. - The first quarter report for 2020 was not audited[98]. - The company has implemented the revised Accounting Standards for Revenue since January 1, 2020, affecting financial reporting[95].

Financial Performance - Net profit attributable to shareholders was ¥9,608,680.45, a decrease of 19.14% year-on-year[8]. - Operating revenue for the period was ¥86,624,999.59, reflecting an 8.77% increase compared to the same period last year[8]. - The net profit after deducting non-recurring gains and losses was ¥9,440,544.74, down 17.70% year-on-year[8]. - Basic earnings per share were ¥0.10, a decrease of 37.50% compared to the same period last year[8]. - The weighted average return on equity was 1.47%, down 2.51% year-on-year[8]. - Total operating revenue for Q3 2019 was CNY 86,624,999.59, an increase of 8.4% compared to CNY 79,642,579.90 in the same period last year[55]. - Net profit for Q3 2019 was CNY 9,608,680.45, a decrease of 19.1% from CNY 11,883,316.70 in Q3 2018[57]. - Earnings per share for Q3 2019 was CNY 0.10, down from CNY 0.16 in the same quarter last year[61]. - Net profit for the current period was ¥39,692,713.41, slightly down from ¥40,161,399.92, reflecting a decrease of approximately 1.2%[72]. - Comprehensive income totalled ¥39,734,259.37, compared to ¥40,223,789.65 in the previous period, showing a decline of about 1.2%[72]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥886,088,965.55, an increase of 35.51% compared to the end of the previous year[8]. - Cash and cash equivalents increased by 297.12% to ¥177,752,594.53 from ¥44,760,410.12, primarily due to the receipt of raised funds[21]. - Inventory rose by 55.78% to ¥43,626,005.04 from ¥28,004,425.91, mainly for fourth-quarter stocking and normal production inventory after the commencement of the Jiujiang investment project[21]. - Fixed assets increased by 48.58% to ¥318,168,437.01 from ¥214,145,470.50, primarily due to construction projects reaching usable status[21]. - Non-current assets totaled CNY 454,875,695.60, an increase of 5.1% from CNY 433,205,487.06 year-over-year[37]. - Current liabilities decreased to CNY 177,273,895.94 from CNY 259,624,021.91, a reduction of 31.6%[40]. - Total liabilities amounted to CNY 240,267,038.07, down from CNY 325,993,816.77, indicating a decline of 26.3%[40]. - Owner's equity increased significantly to CNY 645,821,927.48 from CNY 327,875,403.96, representing a growth of 96.9%[44]. - The company reported a total asset value of ¥653,869,220.73, unchanged from the previous reporting period[94]. - The total liabilities amounted to ¥233,000,000.00, reflecting a stable financial position[94]. Cash Flow - Cash flow from operating activities for the year-to-date was ¥57,912,753.77, an increase of 279.19%[8]. - Net cash flow from operating activities increased by 279.19% to ¥57,912,753.77 from ¥15,272,792.32, attributed to increased sales revenue and collections[25]. - Cash inflow from financing activities was ¥361,840,000.00, up from ¥65,156,107.18 in the previous year[88]. - Cash outflow from financing activities increased to ¥143,127,310.20 from ¥64,109,219.06 last year[88]. - Total cash inflow from operating activities reached ¥243,691,266.32, up 39.0% from ¥175,312,977.56 in the previous period[85]. Research and Development - Research and development expenses increased by 73.49% to ¥13,776,062.82 from ¥7,940,522.65, mainly due to increased research and development expenditures[24]. - Research and development expenses increased to CNY 5,686,424.81 in Q3 2019, compared to CNY 3,264,387.86 in Q3 2018, reflecting a growth of 74.1%[55]. - Research and development expenses increased significantly to ¥13,077,949.63, up 64.5% from ¥7,940,522.65 in the previous period[74]. Shareholder Information - The top shareholder, Zhang Xinguo, holds 17.06% of the shares, totaling 17,060,250 shares[13]. - The company issued 25 million new shares, increasing capital reserve by 215.59% to ¥399,939,039.40 from ¥126,726,775.25[21]. - The capital reserve increased to CNY 399,939,039.40 from CNY 126,726,775.25, reflecting a growth of 215.5%[44]. Government Support - The company received government subsidies amounting to ¥1,792,002.52, which included various innovation and research grants[8]. - Other income rose by 51.08% to ¥2,361,954.12 from ¥1,563,340.73, primarily due to increased government subsidies and rewards[24].

Financial Performance - Total revenue for the first half of 2019 was CNY 171,404,762.23, an increase of 11.88% compared to CNY 153,207,405.01 in the same period last year[27]. - Net profit attributable to shareholders was CNY 30,084,032.96, reflecting a growth of 6.39% from CNY 28,278,083.22 year-on-year[27]. - The basic earnings per share remained stable at CNY 0.38, unchanged from the previous year[27]. - The company's operating revenue for the reporting period was ¥171,404,762.23, an increase of 11.88% compared to ¥153,207,405.01 in the same period last year[63]. - Operating costs rose to ¥105,670,149.26, reflecting a 14.41% increase due to higher sales volume[63]. - The company reported a net profit of -368.03 million from its subsidiary, Jiujiang Huicheng, with sales revenue of 115.80 million during the reporting period[91]. - The company reported a total revenue of 1,612,634.80 million for the period ending November 14, 2020, showing a significant increase compared to previous periods[119]. - The company reported a total revenue of 8,754 million for the period ending February 1, 2021, indicating a significant growth compared to previous periods[127]. Cash Flow and Assets - Net cash flow from operating activities surged by 269.54% to CNY 44,158,048.40, compared to CNY 11,949,354.96 in the previous year[27]. - Cash and cash equivalents increased by 308.79 million yuan, primarily due to received fundraising[49]. - The company reported a net increase in cash and cash equivalents of ¥311,780,186.69, a staggering 6,816.35% increase, primarily due to cash flow from operating and financing activities[66]. - The total assets increased significantly, with cash and cash equivalents accounting for 36.32% of total assets at the end of the reporting period[70]. - As of June 30, 2019, the total assets of Qingdao Huicheng Environmental Technology Co., Ltd. reached RMB 973,427,577.82, an increase from RMB 653,869,220.73 as of December 31, 2018, representing a growth of approximately 48.9%[194]. - The company's current assets totaled RMB 506,383,317.09, significantly up from RMB 220,663,733.67 in the previous year, indicating a growth of about 129.0%[196]. - Cash and cash equivalents increased to RMB 353,545,364.35 from RMB 44,760,410.12, marking a substantial rise of approximately 692.5%[194]. - Accounts receivable decreased to RMB 96,722,449.71 from RMB 128,025,239.26, reflecting a decline of about 24.4%[194]. - Total liabilities decreased to RMB 317,227,675.31 from RMB 325,993,816.77, showing a reduction of about 2.3%[199]. Investments and R&D - R&D expenses for the first half of 2019 were 8.09 million yuan, a 73% increase from 4.68 million yuan in the same period last year[59]. - The company aims to invest 3-4% of annual sales revenue into R&D to enhance hazardous waste resource utilization technology and develop high-value-added products[94]. - Research and development expenditures have increased by 25% year-over-year, emphasizing the commitment to innovation and technology advancement[127]. - New product development efforts were highlighted, with investments totaling 1,557,599.04 million in research and innovation initiatives[119]. Business Operations and Strategy - The company provides waste catalyst treatment and disposal services, focusing on resource recycling and environmental protection[39]. - The company has established a nationwide sales network centered in Shandong, covering North China, Northeast, Southeast, and Central China, and has successfully entered overseas markets[40]. - The company aims for rapid and sustainable development by adapting to industry changes and enhancing its operational capabilities[48]. - The company is actively seeking overseas market cooperation to broaden its sales regions[58]. - The company has established a technical service center to provide tailored solutions and comprehensive technical support to clients[53]. - The company emphasizes continuous innovation in hazardous waste resource utilization technology to enhance product value and recycling rates[46]. - The company’s business model aligns with national policies promoting circular economy and waste resource utilization[46]. Shareholder Information - The total number of shares for the dividend distribution was based on 100,000,000 shares[99]. - The total number of common shareholders at the end of the reporting period was 20,198[170]. - The largest shareholder, Zhang Xinguang, holds 17.06% of the shares, totaling 17,060,250 shares[170]. - The second-largest shareholder, Daobojia Mei Limited, holds 13.31% of the shares, totaling 13,310,250 shares[170]. - The third-largest shareholder, Qingdao Huicheng Xinde Investment Co., Ltd., holds 10.83% of the shares, totaling 10,828,500 shares[170]. Risks and Challenges - The company is affected by external factors such as environmental policies, international crude oil price fluctuations, and internal factors like technological R&D and market expansion capabilities[48]. - The company is facing risks related to high accounts receivable relative to revenue, which could lead to bad debt if clients' financial conditions deteriorate[95]. - The company emphasizes the importance of attracting and retaining professional talent to support its business expansion and maintain team stability[95]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of CNY 2 per 10 shares, totaling CNY 20,000,000 based on 100,000,000 shares[5]. - The company distributed a cash dividend of 2.00 CNY per 10 shares, totaling 20,000,000 CNY, which represents 100% of the distributable profit[99]. - The company reported a distributable profit of 137,543,976.89 CNY for the period[99]. Miscellaneous - There were no significant litigation or arbitration matters reported during the period[105]. - The company did not engage in any related party transactions during the reporting period[113]. - The company has not made any significant asset or equity sales during the reporting period[88][89]. - The company has not experienced any changes in the committed investment projects during the reporting period[83].