Group 1: Company Overview and Strategy - The company operates under a "dual business drive and dual platform ecology" strategy, focusing on both waste-to-energy and expanding into renewable energy sectors such as solar, offshore wind, and hydrogen [3][4] - The company aims to become a leading provider of green energy in China, leveraging its existing resources and expertise in municipal waste management [3][4] Group 2: Financial Performance and Subsidies - As of December 31, 2021, the company had approximately CNY 480 million in unpaid national subsidies [5] - The national government has introduced policies to expedite the resolution of subsidy arrears, with a significant increase in budget allocations for renewable energy subsidies from CNY 92.8 billion in 2021 to CNY 452.8 billion in 2022 [5] Group 3: Waste-to-Energy Business Insights - The waste-to-energy business contributes over 90% to the company's overall performance, with significant growth potential as national capacity for waste incineration is projected to reach 800,000 tons per day by 2025 [5][6] - The company plans to expand its waste-to-energy capacity through new projects and acquisitions, while also enhancing operational efficiency and profitability [5][6] Group 4: Technological Advancements - The company reported an average power generation of approximately 391 kWh/t of waste, which is above the industry average, with new projects utilizing medium-temperature and high-pressure technology achieving a 60% increase in power generation efficiency [6] - Upgrading existing projects with this technology is estimated to cost around CNY 30 million per project, with a payback period of approximately three years [6] Group 5: Hydrogen Energy Initiatives - The company is leveraging the local petrochemical industry to develop hydrogen production capabilities, focusing on low-cost hydrogen from by-products of petrochemical processes [6] - Future hydrogen production methods and energy sources will be determined based on the development of the company's renewable energy sector [6] Group 6: Investment Performance - The company invested CNY 300 million in the Zhongyuan Qianhai Equity Investment Fund, with a current investment of CNY 225 million, reporting a fair value change of CNY 68.25 million in Q1 2021 and CNY 1.0049 million in Q1 2022 [7] - The fund focuses on sectors such as biotechnology, information technology, and renewable energy, with a total of nearly 100 investments made [7]

Group 1: Company Overview and Performance - The main business of the company is waste incineration power generation, accounting for over 90% of revenue and profit [4] - In Q1 2022, the company processed 20.31 million tons of domestic sewage, an increase of 8.08% year-on-year; received 1.39 million tons of waste, up 24.95% year-on-year; and generated 423 million kWh of electricity, a growth of 41.66% year-on-year [4] - Total revenue for Q1 2022 was 495 million yuan, a year-on-year increase of 86.55%; net profit was 72.89 million yuan, a decrease of 40.58% [4] Group 2: Revenue Breakdown - Q1 2022 revenue of 495 million yuan included 140 million yuan recognized under PPP, leading to a core revenue of 355 million yuan, which is a 34% increase compared to 265 million yuan in Q1 2021 [5] - The significant difference in revenue and net profit growth rates is attributed to reduced fair value changes and other income, as well as new projects not yet included in the national subsidy directory [6] Group 3: Future Projects and Subsidies - The company estimates that once the six new projects (totaling 4,950 tons/day and 130 MW capacity) enter the subsidy directory, it could recognize an additional 150 million yuan in annual subsidies [6] - The company is actively managing the impact of subsidy reductions and cancellations, with short-term effects deemed minimal and long-term impacts manageable [12] Group 4: Distributed Photovoltaic and Hydrogen Energy Projects - The company operates distributed photovoltaic projects primarily on idle land and rooftops of existing waste-to-energy and sewage treatment plants, with plans to build seven new photovoltaic projects in 2022 [7] - The collaboration with the Research Institute of Hydrogen Energy focuses on solid-state hydrogen storage technology, leveraging national policies and local market conditions to enhance the hydrogen energy supply chain [11] Group 5: Technological Advancements - The company has implemented medium-temperature and sub-high-pressure technology in new projects, achieving a 60% increase in electricity generation per ton of waste compared to other projects [13] - Plans for upgrading existing projects with this technology are in place, although implementation will be gradual due to operational constraints [13]

圣元环保股份有限公司 2022 年第三季度报告 证券代码：300867 证券简称：圣元环保 公告编号：2022-067 圣元环保股份有限公司 Shengyuan Environmental Protection Co., Ltd 2022 年第三季度报告 $$=\pm\pm-\pm\pm+\mp$$ 1 圣元环保股份有限公司 2022 年第三季度报告 重要内容提示： 董事、监事、高级管理人员是否存在对季度报告内容存在异议或无法保 证其真实、准确、完整的情况 □是 √否 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准 确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的 法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声 明：保证季度报告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □是 √否 4.审计师发表非标意见的事项 □适用 √不适用 2 圣元环保股份有限公司 2022 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 是 □否 追溯调整或重述原因:会计政策变更 | | ...

Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥912.57 million, a decrease of 34.78% compared to the same period last year[22]. - The net profit attributable to shareholders for the same period was approximately ¥120.32 million, reflecting a decline of 68.39% year-on-year[22]. - Basic and diluted earnings per share were both ¥0.4428, down 68.39% from ¥1.3310 in the previous year[23]. - The company achieved total revenue of 913 million yuan, a year-on-year decrease of 34.78%[62]. - Net profit for the period was 120 million yuan, down 68.37% year-on-year, with net profit attributable to shareholders also decreasing by 68.39%[62]. - The total assets increased by 5.39% year-on-year to 8.227 billion yuan, while net assets grew by 6.94% to 3.316 billion yuan[62]. - The company reported a cash flow from operating activities of 152.56 million yuan, a 32.94% increase year-on-year[72]. - The overall power operating revenue decreased by 20.95% year-on-year, amounting to 411.88 million yuan[66]. - The company reported a total revenue of 1.5 billion RMB for the first half of 2022, representing a year-on-year increase of 15%[181]. Dividend and Shareholder Information - Shengyuan Environmental Protection Co., Ltd. plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves[4]. - A total of 361 employees participated in the employee stock ownership plan, holding 4,794,300 shares, which accounts for 1.76% of the total equity capital[139]. - Key management personnel, including directors and supervisors, have acquired shares in the employee stock ownership plan, with the highest individual holding being 103,936 shares, representing 0.04% of the total equity capital[139]. - The company plans to repurchase shares amounting to no less than 3% of the total share capital[175]. - The controlling shareholder is committed to not selling the repurchased shares within six months after the completion of the buyback plan[175]. Operational Efficiency and Management - The company aims to enhance project quality and operational efficiency to expand profit margins and ensure project return rates[35]. - The company has achieved a high level of operational efficiency through meticulous management and technological upgrades, improving its profit margins[48][59]. - The company is enhancing its internal management capabilities to mitigate risks associated with the development of renewable energy projects[129]. - The company is enhancing project efficiency through refined management practices and green electricity trading, which may offset subsidy reductions[167]. - The company is committed to long-term, stable, safe, and compliant operations through regular inspections and monitoring[127]. Environmental Compliance and Sustainability - The company reported a total emission of 132.37 tons of nitrogen oxides, which is below the regulatory limit of 309.12 tons[142]. - The company emitted 37.48 tons of sulfur dioxide, which is also below the regulatory limit of 77.28 tons[142]. - The company has maintained compliance with pollution control standards, with no reported exceedances in emissions for key pollutants[142]. - The company is committed to ongoing research and development of new technologies to enhance waste management and pollution control[150]. - The company is actively monitoring and reporting emissions to ensure adherence to environmental regulations[150]. - The company is committed to addressing environmental risks associated with air pollution, noise, and waste discharge through various mitigation measures[126]. Industry Trends and Market Expansion - The waste incineration power generation industry is projected to reach a processing capacity of 800,000 tons/day by the end of 2025, with a growth potential compared to the previous capacity of 580,000 tons/day[33]. - The company is actively expanding into renewable energy sectors such as distributed photovoltaics, offshore wind power, and hydrogen energy[38]. - The central government budget for renewable energy subsidies increased from CNY 92.8 billion in 2021 to CNY 452.8 billion in 2022, indicating strong policy support for the industry[36]. - The company is focusing on solid waste treatment as its core business while deepening and strengthening its industry chain[128]. Risks and Challenges - The company faces intense competition in the urban solid and liquid waste treatment sector, which may increase the difficulty of acquiring new projects and could pressure the company to lower investment return rates[116]. - The company is at risk of not receiving national subsidies for new projects due to changes in subsidy application policies, which could affect revenue and profitability[119]. - The operational efficiency of the company's waste-to-energy plants is dependent on the stability of waste supply and calorific value, which may be affected by local waste collection systems and population dynamics[125]. - The company faces risks in the renewable energy sector, including market competition, price fluctuations of key equipment and raw materials, and verification of hydrogen storage technology[128]. Technological Innovations - The company has implemented advanced technologies in its wastewater treatment projects, including A/O and CAST processes, and operates 5 wastewater treatment plants[47][54]. - The company has accumulated over 80 valid patents, enhancing its competitive edge in waste treatment technology[54]. - The company is actively pursuing technological innovations to improve waste-to-energy conversion rates and project performance[167]. Financial Management and Investments - The company has established a strict fund management system to prevent any misuse of company funds by related parties[178]. - The company reported a total of ¥983,189,274.69 in restricted assets as of June 30, 2022, due to guarantees and litigation freezes[96]. - The company has ongoing projects in waste incineration power generation, with significant investments made in the reporting period[100]. - The total investment amount for the reporting period was ¥852,661,208.45, a decrease of 44.71% compared to ¥1,542,033,995.57 in the same period last year[97].

Financial Performance - The company's revenue for Q1 2022 was ¥495,237,802.42, representing an increase of 86.55% compared to ¥265,469,787.18 in the same period last year[7] - Net profit attributable to shareholders decreased by 40.58% to ¥72,888,352.02 from ¥122,670,292.08 year-on-year[7] - Basic and diluted earnings per share fell by 40.58% to ¥0.2682 from ¥0.4514 in the same period last year[7] - The net profit excluding non-recurring gains and losses was RMB 71.77 million, showing a year-on-year increase of 3.69%[22] - Operating profit for Q1 2022 was CNY 87.46 million, compared to CNY 154.24 million in Q1 2021, indicating a decline of approximately 43.3%[36] - The company reported a total comprehensive income of CNY 72.87 million for Q1 2022, compared to CNY 122.63 million in Q1 2021, reflecting a decrease of approximately 40.5%[37] Cash Flow and Assets - The net cash flow from operating activities increased significantly by 246.71% to ¥101,286,556.88 compared to ¥29,213,442.38 in the previous year[7] - Total assets at the end of the reporting period were ¥8,007,050,113.75, a 2.52% increase from ¥7,809,933,530.15[9] - The total cash and cash equivalents at the end of Q1 2022 amounted to ¥141,281,472.09, an increase from ¥118,582,749.27 in the same period last year[41] - The total cash outflow for operating activities was ¥215,547,804.12, compared to ¥199,821,319.08 in the previous year, indicating an increase of approximately 8%[40] - The net cash flow from investment activities was negative at -¥135,984,038.80, compared to -¥349,476,792.24 in the previous year, showing an improvement of approximately 61%[41] Operational Highlights - The company processed 20.31 million tons of domestic sewage in Q1 2022, an increase of 8.08% compared to the same period last year[22] - The total amount of waste received at the operational waste incineration power plants was 1.39 million tons, up 24.95% year-on-year[22] - The power generation volume reached 494 million kWh, reflecting a year-on-year growth of 44.08%[22] - The on-grid electricity volume was 423 million kWh, which is a 41.66% increase compared to the previous year[22] Projects and Developments - The company is currently constructing several projects, including the Quanzhou Saint Yuan kitchen waste treatment project and the Qingyang Saint Yuan Phase II project[23] - The company has completed the construction of 6 distributed photovoltaic power stations with a total installed capacity of 4,594.60 KW[25] - The company plans to build 7 distributed photovoltaic projects in 2022, which will primarily operate on a "self-use first, surplus electricity online" model, effectively reducing power consumption and costs[26] - The company is advancing the hydrogen energy project, having signed a cooperation agreement to establish a hydrogen energy research institute, focusing on the demand for new energy in specific sectors[28] Challenges and Strategic Focus - The company faced challenges due to the pandemic but maintained orderly progress in its operations[22] - The significant difference in revenue and net profit growth rates is attributed to high fair value changes from previous investments and new projects not yet recognized for national subsidies[23] - The company aims to enhance operational efficiency and project capacity utilization through refined management practices while seizing opportunities in the new energy sector[26] - The company is actively expanding its solid waste disposal scope, including integrated sanitation projects and waste classification disposal[25] Financial Liabilities - Total liabilities increased to CNY 4.71 billion in Q1 2022 from CNY 4.59 billion in Q1 2021, marking an increase of about 2.4%[33] - The company's current liabilities include short-term loans of approximately 33.18 million, up from 25.54 million in the previous period[32] - The company's financial expenses increased by 51.37% to ¥32,575,411.83 due to expanded operations and increased interest liabilities[15]

证券代码：300867 证券简称：圣元环保 公告编号：2022-034 圣元环保股份有限公司 关于召开 2021 年度业绩说明会暨参加厦门辖区上市公司投 资者网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 会议召开时间：2022年5月10日（星期二）14:30-16:00 会议召开方式：网络远程互动 会 议 互 动 网 址 ： 全 景 网 " 投 资 者 关 系 互 动 平 台 " （http://ir.p5w.net） 为进一步加强与投资者的互动交流，使广大投资者能更深入全面 地了解公司情况，圣元环保股份有限公司（以下简称"公司"）拟于 2022 年 5 月 10 日召开 2021 年度业绩说明会暨参加由厦门证监局、厦门上 市公司协会和深圳市全景网络有限公司联合举办的"2021 年度厦门辖 区上市公司投资者网上集体接待日"活动，与广大投资者朋友们进行 互动交流。 现将有关事项公告如下： 一、活动召开时间 2022 年 5 月 10 日（星期二）下午 14:30-16:00。 二、活动召开方式 1 （一）活动召开方式： ...

Financial Performance - The company's operating revenue for 2021 reached ¥2,295,681,048.35, representing a 122.08% increase compared to ¥1,033,725,653.71 in 2020[27]. - Net profit attributable to shareholders was ¥471,539,757.10, a 55.27% increase from ¥303,699,283.52 in the previous year[27]. - The basic earnings per share increased by 29.36% to ¥1.7353 from ¥1.3414 in 2020[27]. - The total assets of the company at the end of 2021 were ¥7,809,933,530.15, reflecting a 12.64% growth from ¥6,933,723,754.08 in 2020[27]. - The net assets attributable to shareholders increased by 18.05% to ¥3,219,291,977.56 from ¥2,726,974,291.16 in the previous year[27]. - The company's total electricity revenue for 2021 was approximately CNY 881.84 million, representing a 46.27% increase compared to CNY 602.90 million in 2020[71]. - The revenue from waste incineration (including electricity sales) was ¥1,162,975,635.59, accounting for 50.66% of total revenue, with a year-on-year growth of 38.99%[104]. - The company achieved total revenue of 2.296 billion yuan in 2021, a year-on-year increase of 122.08%[91]. Operational Capacity and Projects - The company has established multiple waste incineration power plants across various provinces in China[16]. - The company operates 13 waste-to-energy plants and 2 organic waste treatment projects, with a focus on provinces such as Fujian, Jiangsu, Anhui, Shandong, and Gansu[50]. - The company added a total waste processing capacity of 4,950 tons/day and an installed capacity of 130MW through the commissioning of six new waste incineration projects in 2021[106]. - The company processed 4.8458 million tons of waste in its incineration plants, a 16.81% increase from the previous year[92]. - The total installed capacity of the company's waste-to-energy plants reached 30.9 MW, an increase from 17.9 MW in the previous year[75]. - The company constructed and operated 6 photovoltaic power stations during the reporting period, expanding its renewable energy business[59]. Research and Development - The company is actively involved in research and development to improve its environmental technologies[16]. - The company is focusing on R&D investments to strengthen its technological capabilities in the waste management sector[62]. - The company's R&D investment amounted to ¥14,095,397.11 in 2021, representing 0.61% of total revenue[130]. - The number of R&D personnel increased by 6.45% from 62 in 2020 to 66 in 2021[129]. - The company has made significant advancements in R&D, including the development of automatic dosing technology for magnetic powder in wastewater treatment, aimed at reducing labor costs and improving efficiency[127]. Risk Management - The company faces several risks including technology risk, intense industry competition, and potential instability in waste supply and calorific value[4]. - The company has a comprehensive risk management strategy to address financial and operational risks[4]. - The company has outlined potential risks and countermeasures in its future development outlook section[4]. - The company emphasizes the importance of adhering to environmental protection standards and policies[4]. - The company has implemented a comprehensive internal control system to manage risks and ensure compliance, contributing to its sustainable growth[102]. Market Trends and Opportunities - The company operates in the waste-to-energy sector, with significant growth potential as the national waste incineration capacity is expected to reach 800,000 tons per day by the end of 2025, up from 580,000 tons per day during the 13th Five-Year Plan[38]. - The company is positioned to benefit from policies promoting waste classification and incineration, which aim to reduce landfill waste and enhance waste management infrastructure[41]. - The company is focusing on expanding its market presence in hazardous waste treatment and kitchen waste classification, driven by increasing regulatory demands and public awareness[43]. - The financial support for green and low-carbon industries is expected to increase, with the central government's budget for related expenditures rising from ¥92.8 billion in 2021 to ¥452.8 billion in 2022[40]. Subsidiaries and Partnerships - The company established several new subsidiaries during the reporting period, enhancing its operational capacity and market presence[124]. - The company has ongoing major contracts and procurement agreements, with significant revenue recognition expected in the upcoming periods[110]. - The company signed exclusive waste treatment agreements with surrounding areas of the Qingyang plant, enhancing its operational efficiency and expanding its project footprint[96]. Environmental Compliance and Sustainability - The company is committed to enhancing its operational efficiency and exploring new technologies in waste management[20]. - The company aims to achieve a safe production and environmental compliance for the year, with a focus on operational excellence and management standards[190]. - The company is committed to a green low-carbon development strategy, focusing on dual business drivers and ecological platforms to enhance risk resistance and create stable shareholder value[182].

Financial Performance - The company's revenue for Q3 2021 was ¥427,967,185.62, representing a year-on-year increase of 35.71%[5] - Net profit attributable to shareholders for Q3 2021 was ¥71,107,463.29, a decrease of 42.32% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was ¥81,085,636.35, down 33.47% year-on-year[5] - Operating revenue for the first nine months of 2021 reached CNY 1,794,634,121.36, a 133.47% increase compared to CNY 768,675,635.23 in the same period last year[12] - Net profit for the period was CNY 432,703,322.91, reflecting a 79.12% increase from CNY 241,569,834.72 year-on-year[13] - The company's gross profit margin improved, with operating costs rising by 232.15% to CNY 1,175,899,367.60, compared to CNY 354,024,710.72 in the previous year[12] - Total operating revenue for Q3 2021 reached ¥1,794,634,121.36, a significant increase from ¥768,675,635.23 in Q3 2020, representing a growth of approximately 133.3%[40] - Net profit for Q3 2021 was ¥432,703,322.91, up from ¥241,569,834.72 in Q3 2020, reflecting a growth of approximately 79.2%[41] - The total comprehensive income for the period was CNY 432,703,322.91, compared to CNY 241,569,834.72 in the same period last year, marking an increase of approximately 79%[42] Assets and Liabilities - Total assets at the end of Q3 2021 reached ¥7,889,166,455.04, an increase of 13.78% from the end of the previous year[6] - The company's total assets as of September 30, 2021, amounted to ¥7,889,166,455.04, compared to ¥6,933,723,754.08 at the end of 2020, showing an increase of about 13.8%[38] - Non-current assets totaled ¥6,351,150,557.39 as of September 30, 2021, up from ¥5,326,203,623.83 at the end of 2020, representing a growth of approximately 19.2%[36] - Current liabilities decreased to ¥1,143,116,817.80 from ¥1,222,479,773.25 year-over-year, indicating a reduction of about 6.5%[37] - Long-term borrowings increased to ¥3,210,766,261.01 from ¥2,685,267,926.39, reflecting a growth of approximately 19.6%[37] - The total liabilities reached CNY 4,206,759,609.73, down by CNY 3,619,437.41 compared to the previous period[51] - Non-current liabilities totaled CNY 2,984,279,836.48, showing a slight decrease of CNY 3,619,437.41 from the last report[51] Cash Flow - The cash flow from operating activities for the year-to-date was ¥204,541,902.60, down 25.41% year-on-year[5] - Cash inflow from operating activities totaled CNY 782,485,986.31, compared to CNY 710,330,337.71 in the previous year, reflecting an increase of approximately 10.1%[44] - The net cash flow from operating activities was CNY 204,541,902.60, down from CNY 274,225,985.55 in the same period last year, showing a decrease of about 25.4%[45] - Cash inflow from financing activities was CNY 722,900,000.00, down from CNY 2,221,223,233.94 in the previous year, representing a decrease of approximately 67.5%[46] - The net cash flow from financing activities was CNY 309,013,492.38, a significant drop from CNY 1,701,608,786.91 in the previous year[46] Shareholder Information - Total number of common shareholders at the end of the reporting period is 33,020[17] - The largest shareholder, Zhu Hengbing, holds 25.00% of shares, totaling 67,943,152 shares[17] - Zhu Yuxuan, the second-largest shareholder, holds 12.20% of shares, totaling 33,161,946 shares[17] - The top ten shareholders include several individuals and investment firms, with the smallest holding being 1.61% by Qianhai Equity Investment Fund[18] - The report indicates that there are no shareholders participating in financing securities business[18] Future Outlook and Projects - The company plans to continue expanding its renewable energy projects, which have been included in the renewable energy subsidy project list, contributing to future revenue growth[14] - The company is exploring offshore wind power development, currently in the preliminary research phase[29] - Six new projects have been officially put into production, adding a garbage processing capacity of 4,950 tons per day and an installed capacity of 135 MW[28] - The company is actively expanding its solid waste disposal services, including integrated sanitation projects and kitchen waste classification[29] Miscellaneous - The report does not indicate any new product or technology developments during the quarter[21] - There is no mention of market expansion or mergers and acquisitions in the current report[21] - The company has not provided specific future guidance or performance outlook in the available data[21] - The report was not audited, indicating that the figures may be subject to change upon final review[53]

证券代码：300867 证券简称：圣元环保 公告编号：2021-063 圣元环保股份有限公司 关于参加 2021 年度厦门辖区上市公司投资者 网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流，使广大投资者能更深入全面 地了解公司情况，圣元环保股份有限公司（以下简称"公司"）定于 2021 年 9 月 7 日（星期二）下午 15:00-17:00 参加由厦门上市公司 协会与深圳市全景网络有限公司联合举办的"2021 年度厦门辖区上 市公司投资者网上集体接待日"活动。 本次活动将通过深圳市全景网络有限公司提供的网上平台进行, 投资者可以登录全景网投资者关系互动平台（http://ir.p5w.net） 参与在线交流。届时公司高管人员将通过网络与投资者进行实时沟通 与交流。 公司拟出席本次活动的高管有：总经理朱恒冰先生、董事会秘书 陈文钰先生、财务总监黄宇先生。 欢迎广大投资者积极参与。 特此公告。 圣元环保股份有限公司董事会 2021 年 9 月 1 日 ...

Financial Performance - Shengyuan Environmental reported a revenue of 1.2 billion RMB for the first half of 2021, representing a year-on-year increase of 15%[25]. - The company's operating revenue for the current reporting period reached ¥1,366,666,935.74, representing a 201.48% increase compared to ¥453,315,092.52 in the same period last year[33]. - The net profit attributable to shareholders of the listed company was ¥361,694,847.38, marking a 205.77% increase from ¥118,288,382.90 year-on-year[33]. - The net profit after deducting non-recurring gains and losses was ¥305,625,145.66, which is a 158.25% increase compared to ¥118,343,943.40 in the previous year[33]. - The company achieved total revenue of CNY 1.367 billion in the first half of 2021, representing a year-on-year increase of 201.48%[53]. - Net profit for the same period reached CNY 362 million, marking a growth of 205.72% year-on-year[53]. - The company reported a significant increase in electricity sales revenue, totaling approximately CNY 501.14 million in the first half of 2021, up 100.76% from CNY 249.62 million in the same period of 2020[47]. - The company reported a total operating revenue for the first half of 2021 reached CNY 1,366,666,935.74, a significant increase from CNY 453,315,092.52 in the same period of 2020, representing a growth of approximately 201.5%[199]. Debt and Liabilities - As of June 30, 2021, the total interest-bearing debt of the company amounted to CNY 3,456.51 million, accounting for 44.39% of total assets[15]. - The company's total liabilities increased to CNY 4,705,781,873.80 from CNY 4,206,759,609.73, an increase of approximately 11.9%[192]. - Non-current liabilities rose to CNY 3,377,111,423.45, up from CNY 2,984,279,836.48, reflecting an increase of about 13.2%[192]. - The company's total liabilities include deferred income tax liabilities of ¥21,371,582.6, which increased due to fair value changes in investment assets[68]. Assets and Equity - The company's total assets at the end of the reporting period amounted to ¥7,787,368,572.02, reflecting a 12.31% increase from ¥6,933,723,754.08 at the end of the previous year[33]. - The net assets attributable to shareholders of the listed company increased by 13.00% to ¥3,081,441,180.70 from ¥2,726,974,291.16 at the end of the previous year[33]. - The company's total assets increased to CNY 7,787,368,572.02 as of June 30, 2021, up from CNY 6,933,723,754.08 at the end of 2020, representing an increase of approximately 12.3%[192]. - Shareholders' equity increased to CNY 3,081,586,698.22 from CNY 2,726,964,144.35, representing a growth of approximately 13%[192]. Operational Efficiency and Growth Plans - The company plans to expand its waste-to-energy projects in Fujian and Shandong provinces, aiming to increase processing capacity by 25% by the end of 2022[25]. - Shengyuan is investing 200 million RMB in new technologies for waste treatment and energy recovery, focusing on enhancing operational efficiency[25]. - The company plans to expand its waste treatment capacity through project expansions and new project developments, aiming to increase revenue and profit levels[40]. - The company is focused on expanding its market presence and improving operational efficiency, aiming for sustainable profit growth despite increasing competition in the waste management sector[48]. - The company aims to enhance its competitive position through strategic acquisitions and partnerships in the industry[112]. Environmental Compliance and Sustainability - The company has implemented mature pollution prevention technologies and measures, ensuring compliance with national standards during operations[9]. - The company’s waste incineration technology has been recognized as a key environmental protection practical technology demonstration project by the China Environmental Protection Industry Association[50]. - The company is actively preparing for carbon trading and CCER registration to align with national carbon neutrality goals[120]. - The company’s pollution control measures include a combination of advanced technologies for gas and wastewater treatment, ensuring environmental compliance[115]. - The company has established a digital control center to monitor pollutant emissions and environmental quality through big data integration and remote video surveillance[117]. Risks and Challenges - The company is exposed to risks related to the inability to obtain national subsidies for new projects, which may affect revenue and profitability[11]. - The company faces risks from increasing interest expenses due to sensitivity to interest rate changes, given the high proportion of interest-bearing debt[15]. - The company is facing potential declines in profitability as existing fiscal subsidies for waste-to-energy projects gradually expire and transition to grid parity pricing[93]. - Future projects will be determined through competitive pricing, which may lead to decreased electricity sales prices and impact revenue[95]. Research and Development - Research and development expenses increased by 12.70% to CNY 6.66 million[56]. - The company is investing 100 million RMB in R&D for new technologies aimed at enhancing product efficiency[130]. Shareholder and Governance Matters - The company plans not to distribute cash dividends, issue bonus shares, or increase capital using reserves[17]. - The company has committed to a profit distribution policy and dividend return plan approved by the shareholders' meeting[127]. - The company has established a strict fund management system to prevent any misuse of funds by controlling shareholders or related parties[128]. - The company confirmed that the execution of major orders in the energy-saving and environmental protection sector is on track as expected[60].