Financial Performance - The company's operating revenue for Q1 2021 was ¥265,469,787.18, representing a 23.20% increase compared to ¥215,472,815.18 in the same period last year[8]. - The net profit attributable to shareholders for Q1 2021 was ¥122,670,292.08, a significant increase of 126.23% from ¥54,223,251.41 in the previous year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥69,214,666.42, up 27.56% from ¥54,259,820.07 year-on-year[8]. - The basic earnings per share for Q1 2021 was ¥0.4514, an increase of 69.64% compared to ¥0.2661 in the same period last year[8]. - The total profit for the period was 153.95 million RMB, a 136.52% increase compared to the previous year[20]. - The company reported a total profit of ¥153,950,396.58, up from ¥65,089,976.96, which is an increase of approximately 136.3%[45]. Assets and Liabilities - The total assets at the end of the reporting period were ¥7,172,138,071.12, reflecting a 3.44% increase from ¥6,933,723,754.08 at the end of the previous year[8]. - The net assets attributable to shareholders at the end of the reporting period were ¥2,849,644,583.24, which is a 4.50% increase from ¥2,726,974,291.16 at the end of the previous year[8]. - Total liabilities rose to CNY 4,322,346,185.31 from CNY 4,206,759,609.73, marking an increase of about 2.75%[37]. - The company's equity attributable to shareholders increased to CNY 2,849,644,583.24 from CNY 2,726,974,291.16, a growth of approximately 4.49%[38]. Cash Flow - The net cash flow from operating activities was ¥29,213,442.38, a decrease of 58.40% compared to ¥70,227,060.79 in the same period last year[8]. - The cash inflow from operating activities totaled CNY 229,034,761.46, an increase from CNY 217,143,527.27 in the previous period[52]. - The cash inflow from investment activities was CNY 599,648,721.25, while cash outflow was CNY 949,125,513.49, resulting in a net cash flow of -CNY 349,476,792.24[53]. - The ending cash and cash equivalents balance was CNY 118,582,749.27, compared to CNY 66,370,693.48 in the previous period, showing an increase of approximately 78.8%[54]. - The company experienced a net decrease in cash and cash equivalents of CNY 57,252,275.62 during the period[57]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 32,227[12]. - The top shareholder, Zhu Hengbing, holds 25.00% of the shares, totaling 67,943,152 shares[12]. Investment Activities - The company plans to optimize its investment structure by participating in the Zhongyuan Qianhai Equity Investment Fund with a total investment of 300 million RMB[24]. - The investment progress for the Qiyang City waste incineration power generation project is 66.76%, with an investment of 28,525.91 million RMB out of a total commitment of 31,000 million RMB[27]. - The investment progress for the Juancheng County waste incineration power generation project is 82.79%, with an investment of 30,559 million RMB out of a total commitment of 36,000 million RMB[27]. - The company has approved the use of up to 2 billion RMB of temporarily idle raised funds for cash management, with 16,100 million RMB of financial products purchased remaining unexpired[29]. Operational Highlights - The company has successfully launched new projects in Qingyang and Juancheng, contributing to revenue growth[21]. - Management expenses increased by 50.98% to 16.51 million RMB due to the expansion of projects and workforce[20]. - The company reported a significant increase in investment income, rising by 88.00% to 15.10 million RMB, primarily from investments in joint ventures[20]. Compliance and Governance - The company has not engaged in any non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[31]. - There were no violations of external guarantees during the reporting period[30]. - The first quarter report for 2021 was not audited[65].

Financial Performance - The company achieved a total revenue of 1.5 billion RMB in 2020, representing a growth of 12% compared to the previous year[16]. - Shengyuan's net profit for 2020 was reported at 200 million RMB, an increase of 10% from 2019[16]. - The company's operating revenue for 2020 was ¥1,033,725,653.71, representing a 16.37% increase compared to ¥888,339,180.75 in 2019[23]. - The net profit attributable to shareholders for 2020 was ¥303,699,283.52, a 39.70% increase from ¥217,395,479.43 in 2019[23]. - The net cash flow from operating activities for 2020 was ¥483,244,982.48, an 8.89% increase from ¥443,797,192.91 in 2019[23]. - The total assets at the end of 2020 were ¥6,933,723,754.08, a 64.79% increase from ¥4,207,683,133.32 at the end of 2019[23]. - The basic earnings per share for 2020 were ¥1.3414, a 25.72% increase from ¥1.0670 in 2019[23]. - The company reported a total revenue of 5,200 million for the year 2020[157]. Debt and Liabilities - The total interest-bearing debt of the company reached CNY 3,116.21 million, accounting for 44.94% of total assets as of the end of 2020[9]. - The company’s total liabilities increased, with long-term borrowings reaching ¥2,685,267,926.39, a decrease in proportion of 5.38% due to increased total assets from fundraising[78]. - The company has a total of 8,000 million in guaranteed liabilities due in 2032[158]. - The company has guaranteed liabilities totaling 21,000 million, maturing in 2026[158]. - The company has a contingent liability of 6,000 million due in 2031[158]. Cash Flow and Investments - The company reported a net cash flow from financing activities of ¥1,860,894,047.88, a dramatic increase of 3,284.79% year-on-year[73]. - The total investment amount for the reporting period reached ¥2,572,891,217.40, a significant increase of 337.57% compared to the previous year's investment of ¥587,992,627.14[83]. - The company has ongoing non-equity investments in multiple waste incineration power generation projects, with total investments of ¥1,255,370,977.73 and cumulative actual investments of ¥1,540,543,682.98[86]. - The company utilized idle raised funds of ¥161,000,000.00 for purchasing financial products during the reporting period[91]. Operational Performance - Shengyuan Environmental Protection reported a significant increase in waste incineration volume, reaching 1.2 million tons in 2020, up 15% year-over-year[15]. - The company processed 4.1484 million tons of waste in its incineration plants, a 7.03% increase compared to the previous year[47]. - The total electricity generated from waste incineration was 1.267 billion kWh, up 11.36% year-on-year[47]. - The company treated 88.4423 million tons of sewage, marking a 7.39% increase from the previous year[47]. - The company operates 7 waste incineration projects and 5 sewage treatment projects, showcasing extensive project investment, construction, and operational experience[39]. Research and Development - Shengyuan is investing 100 million RMB in R&D for advanced waste treatment technologies, aiming to enhance operational efficiency and reduce emissions[16]. - Research and development expenses reached ¥14,020,060.51, a 30.12% increase from ¥10,774,862.35 in 2019, reflecting increased investment in R&D[69]. - The company completed 10 out of 12 research projects in 2020, accumulating a total of 71 patents by the end of the year[70]. Environmental Compliance - The company has adopted mature pollution prevention technologies to ensure compliance with national standards during operations[6]. - The company reported a total nitrogen oxides (NOx) emission of 291.96 tons from the Nan'an facility, with an emission concentration of 149.23 mg/m³, complying with the GB18485-2014 standard[171]. - The total sulfur dioxide (SO2) emissions from the Putian facility reached 114.40 tons, with an emission concentration of 34.36 mg/m³, adhering to the same pollution control standard[172]. - The company has established an online monitoring system for wastewater discharge, with real-time data transmission to provincial and municipal environmental departments[178]. Market Strategy and Growth - The company plans to expand its waste treatment capacity by 20% over the next two years, focusing on new projects in Jiangsu and Fujian provinces[15]. - The company aims to increase revenue and profit levels through project expansions and new project developments[32]. - The company plans to expand its market presence by developing new waste-to-energy projects in key cities and enhancing existing project management to maximize efficiency[105]. - The company is committed to diversifying its solid waste disposal services, including the development of technologies for sludge and kitchen waste treatment[105]. Profit Distribution - The company plans to distribute a cash dividend of CNY 1.2 per 10 shares (including tax) based on a total of 271,741,053 shares[10]. - The total distributable profit for the year is RMB 1,041,756,706.79, with the cash dividend accounting for 100% of the total profit distribution[121]. - The cash dividend distribution will be prioritized, with a minimum of 10% of the distributable profit allocated for cash dividends if no major investment plans arise[116]. - The company has established a profit distribution policy that emphasizes reasonable returns to investors while ensuring sustainable development[115]. Shareholder Information - The total number of shares before the public offering was 203,741,053, which increased to 271,741,053 after the issuance of 68,000,000 new shares[184]. - The largest shareholder, Zhu Hengbing, holds 25.00% of the shares, totaling 67,943,152 shares, with no changes during the reporting period[193]. - The company has a total of 9,113,031 shares held by shareholder Xu Jinqing, representing 3.35% of the total shares[194]. - The company has not experienced any changes in its actual controllers during the reporting period[198]. Risks and Challenges - The company faces risks related to the inability to obtain national subsidies for new projects, which could impact revenue and profitability[7]. - The competitive landscape in the waste-to-energy sector is intensifying, potentially complicating the acquisition of new projects and affecting operational performance[5]. - The company is exposed to risks from rising interest rates, which could significantly increase interest expenses and negatively affect cash flow[9]. - The company is at risk of not receiving national subsidies for projects not included in the subsidy list, which could impact revenue[111].

Financial Performance - Operating revenue for the current period was CNY 315,360,542.71, a 41.17% increase year-on-year[8] - Net profit attributable to shareholders increased by 92.37% to CNY 123,281,451.82 compared to the same period last year[8] - Basic earnings per share rose by 73.13% to CNY 0.5445[8] - Net profit for the first nine months increased by 45.10% to ¥241,569,834.72, driven by the recognition of national subsidies and revenue growth[17] - The total profit for the first nine months increased by 53.43% to ¥276,181,935.41, attributed to the expansion of the company's scale and revenue[17] - The total operating revenue for Q3 2020 reached ¥315,360,542.71, compared to ¥223,387,542.84 in the same period last year, indicating a significant increase[44] - Net profit for Q3 2020 was ¥123,281,451.82, up from ¥64,085,018.70 in Q3 2019, representing a growth of approximately 92.3%[46] - The net profit for the current period was ¥241,569,834.72, up 45.0% from ¥166,484,525.32 in the previous period[54] - The total comprehensive income for the current period was ¥241,569,834.72, compared to ¥166,484,525.32 in the previous period, indicating a strong performance[55] Assets and Liabilities - Total assets increased by 53.83% to CNY 6,472,614,089.22 compared to the end of the previous year[8] - Total liabilities increased by 36.93% to ¥2,541,282,275.32, mainly due to new project loans for Quanzhou Shengyuan and other projects[16] - The company's total liabilities increased to RMB 3.81 billion from RMB 3.00 billion, representing a growth of approximately 27.3%[38] - The company's total assets amounted to ¥2,910,426,615.55, compared to ¥1,536,472,360.98 at the end of 2019, reflecting a year-to-date increase of 89.5%[42] - The company's total liabilities increased to ¥1,128,231,013.12 from ¥976,081,613.27, marking a rise of about 15.6%[42] - The total assets of the company as of Q3 2020 were CNY 4,207,683,133.32, with total liabilities amounting to CNY 3,003,219,256.43, resulting in total equity of CNY 1,204,463,876.89[71] Shareholder Information - The company reported a total of 45,694 common shareholders at the end of the reporting period[12] - The top shareholder, Zhu Hengbing, holds 25.00% of the shares, totaling 67,943,152 shares[12] - The company has no overdue commitments from major shareholders or related parties during the reporting period[28] - There were no violations regarding external guarantees during the reporting period[29] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[30] Cash Flow - Net cash flow from operating activities decreased by 6.96% to CNY 120,854,306.24[8] - The net cash flow from operating activities decreased to CNY 274,225,985.55, down 9.1% from CNY 301,791,599.51 in the previous year[62] - The net cash flow from financing activities was CNY 1,701,608,786.91, a substantial increase from CNY 23,618,138.08 in the previous year[63] - The net cash flow from financing activities for Q3 2020 was CNY 1,251,942,314.66, a significant increase from CNY 116,758,699.35 in Q3 2019, reflecting a growth of approximately 973%[66] Investment and Capital - Cash and cash equivalents increased by 2044.80% to ¥1,074,695,061.89 due to funds raised from the August IPO[16] - The company's capital reserve surged by 458.82% to ¥1,401,632,189.25, reflecting the funds raised from the IPO[17] - Investment activities generated a net cash outflow of ¥943,736,633.23, primarily due to increased investment in ongoing projects[17] - The company plans to use raised funds to replace pre-invested self-raised funds amounting to ¥725,160,891.12 for ongoing projects[23] Research and Development - Research and development expenses for Q3 2020 were ¥3,114,378.93, compared to ¥2,896,402.83 in Q3 2019, reflecting a year-over-year increase of about 7.5%[45] - Research and development expenses increased to ¥9,019,995.74 from ¥7,654,839.03, reflecting a growth of 17.8%[52] Financial Adjustments - The company executed adjustments to its financial statements in 2020 due to the adoption of new revenue and leasing standards, impacting the classification of certain liabilities[67] Other Information - The company did not engage in any repurchase transactions during the reporting period[13] - The company has not disclosed any new product developments or market expansion strategies in the report[76]