Financial Performance - The company's operating revenue for Q1 2023 was ¥385,507,041.41, a decrease of 22.16% compared to ¥495,237,802.42 in the same period last year[7]. - Net profit attributable to shareholders was ¥41,280,712.14, down 43.36% from ¥72,888,352.02 year-on-year[7]. - Basic and diluted earnings per share were both ¥0.1519, reflecting a decline of 43.36% from ¥0.2682 in the previous year[7]. - The total profit for the period was ¥56,273,855.92, down 35.47% from ¥87,202,809.84 in the previous year, primarily due to lower gross margins and increased maintenance costs[17]. - Total operating revenue for Q1 2023 was ¥385,507,041.41, a decrease of 22.2% compared to ¥495,237,802.42 in the same period last year[54]. - Net profit for Q1 2023 was ¥40,871,991.37, a decline of 44.0% from ¥72,866,432.86 in Q1 2022[55]. Cash Flow and Assets - The net cash flow from operating activities decreased by 68.67%, amounting to ¥31,736,543.66 compared to ¥101,286,556.88 in Q1 2022[19]. - Cash and cash equivalents at the end of Q1 2023 were ¥71,479,298.20, a significant decrease from ¥363,316,074.15 at the beginning of the year[50]. - Total assets at the end of the reporting period were ¥8,300,563,921.35, a decrease of 1.30% from ¥8,410,200,661.04 at the end of the previous year[7]. - Total liabilities decreased to ¥4,890,773,911.81 from ¥5,042,967,070.18, indicating a reduction of 3.0%[52]. - The ending cash and cash equivalents balance for Q1 2023 is CNY 68,465,634.89, down from CNY 141,281,472.09 at the end of Q1 2022, a decrease of approximately 51.5%[60]. Research and Development - Research and development expenses increased by 36.14% to ¥4,417,404.01, primarily due to higher costs associated with hydrogen energy projects[17]. - Research and development expenses for Q1 2023 were ¥4,417,404.01, an increase of 36.1% compared to ¥3,244,761.21 in Q1 2022[55]. - The company emphasizes technology innovation in its new energy business, focusing on solid-state hydrogen and organic liquid hydrogen storage technology development[44]. Operational Highlights - The company processed 1.457 million tons of waste in Q1 2023, an increase of 4.88% year-on-year[31]. - The total power generation in Q1 2023 reached 511 million kWh, reflecting a growth of 3.4% year-on-year[31]. - The company’s sewage treatment volume in Q1 2023 was 18.8101 million tons, a decrease of 7.38% year-on-year[31]. - The company has 8 operational projects with a waste processing capacity of 5,950 tons/day, which meet the criteria for renewable energy subsidy projects[29]. Strategic Initiatives - The company has accelerated its layout in the new energy sector to cultivate new growth points[31]. - The company is actively expanding its solid waste disposal projects, including integrated sanitation projects and the disposal of various types of waste, while also advancing hydrogen energy projects in Quanzhou and Xiamen[32]. - The company is committed to a dual-driven development strategy of "solid waste + new energy," focusing on improving solid waste treatment and expanding its hydrogen energy industry layout[39]. - The company is exploring integrated applications of "wind and solar power + hydrogen storage" to drive project industrialization and performance growth[43]. Financial Management - The company is implementing a comprehensive risk prevention strategy, including strict budget management and internal control system enhancements to mitigate key risks[47]. - The company is focusing on enhancing its management systems to ensure high-quality development and operational stability in 2023[40]. - The company aims to enhance operational efficiency and project capacity utilization through refined management practices, focusing on the development of the new energy industry to create new profit growth points[34]. Dividend and Shareholder Information - The company plans to distribute cash dividends of RMB 0.70 per 10 shares, totaling RMB 19,021,873.71, based on a total share capital of 271,741,053 shares as of December 31, 2022[36]. - The company will hold its 2022 annual general meeting on May 10, 2023, to review the annual report and related proposals[38]. Other Information - The first quarter report has not been audited[61]. - The company did not report any net profit from mergers under common control during the current or previous periods[57].

Financial Performance - The net profit attributable to shareholders for 2022 was 180.19 million yuan, a decline of over 50% compared to the previous year[6]. - The company's operating revenue for 2022 was ¥1,751,534,142.26, a decrease of 24.94% compared to ¥2,333,394,576.59 in 2021[31]. - The net profit attributable to shareholders for 2022 was ¥180,194,425.41, down 62.49% from ¥480,382,329.98 in 2021[31]. - Basic earnings per share for 2022 were ¥0.6631, a decline of 62.49% from ¥1.7678 in 2021[32]. - The company reported a total of ¥9,733,847.69 in non-recurring gains and losses for 2022, down from ¥58,641,681.93 in 2021[42]. - The company reported total revenue of ¥1.752 billion, a decrease of 24.94% year-on-year, and a net profit of ¥179 million, down 62.71% compared to the previous year[113]. - The company’s total electricity revenue in 2022 was approximately CNY 808.15 million, a decrease of 10.66% compared to CNY 904.59 million in 2021[71]. - The revenue from waste incineration (including electricity sales) reached approximately ¥1.18 billion, with a gross margin of 37.40%, showing a slight increase of 1.01% year-on-year[137]. Operational Capacity and Projects - The company has 8 operational projects (waste processing capacity of 5,950 tons/day) that meet the criteria for renewable energy subsidy but have not yet been included in the national subsidy directory[6]. - The company’s operational capacity utilization decreased due to reduced waste supply in certain areas, impacting revenue[7]. - Shengyuan Environmental Protection Co., Ltd. reported a significant increase in waste processed, with a total of 1.5 million tons of waste treated in 2022, representing a 20% increase year-over-year[23]. - The company operates 13 waste incineration power plants and has 3 additional projects under construction, with a total waste processing capacity and power generation steadily increasing[67]. - The total installed capacity increased to 339,000 kW from 309,000 kW year-on-year, with new capacity added being 30,000 kW compared to 130,000 kW in the previous year[76]. - The company processed 5.645 million tons of waste in its incineration power plants, an increase of 16.49% year-on-year, and generated 1.899 billion kWh of electricity, up 14.37% year-on-year[114]. Revenue and Growth Strategies - The company plans to distribute a cash dividend of 0.70 yuan per 10 shares (including tax) based on a total of 271,741,053 shares[9]. - The company plans to expand its waste-to-energy projects, targeting an additional 300 million RMB in revenue from new projects in 2023[25]. - Shengyuan's new product line for waste recycling is projected to generate an additional 100 million RMB in revenue by the end of 2023[25]. - The company has submitted applications for the renewable energy subsidy for its operational projects but has not yet received confirmation[6]. - The company aims to enhance its market share and profit growth through cost-saving measures and improved production management[75]. - The company has initiated a strategic partnership with local governments to enhance waste management services, which is expected to increase waste processing capacity by 30%[23]. Challenges and Risks - The company faces risks including technology risks, intense industry competition, and uncertainties in new business development[9]. - The decline in net profit was attributed to several factors, including changes in accounting policies and reduced waste processing due to external environmental impacts[6]. - The company is facing challenges in new project investment returns due to factors such as declining national subsidies and increased construction costs for smaller projects[62]. - The company is facing challenges due to tightening local finances and increasing environmental regulations, impacting the growth of new waste-to-energy projects[77]. - The company experienced a significant drop in net profit in the fourth quarter, with only ¥21,041,031.72 attributable to shareholders[37]. Technological Advancements and R&D - Shengyuan is investing in new technologies for waste treatment, aiming to improve efficiency by 25% through the implementation of advanced incineration systems[24]. - The company is developing an A/O biological treatment pool to enhance wastewater treatment efficiency and reduce operational costs[158]. - The company is implementing advanced virtual reality design technology to optimize combustion systems, which is expected to enhance operational efficiency and reduce costs[159]. - The company is focusing on enhancing the automation and accuracy of sludge interface detection technology to improve operational efficiency and reduce labor costs[158]. - The company has a total of 107 valid patents, showcasing its commitment to technological advancement in waste incineration and sewage treatment[104]. Sustainability and Environmental Commitment - The company is committed to sustainability, with plans to reduce carbon emissions by 15% through improved operational practices and technology upgrades[24]. - The company is focused on green low-carbon development and aims to improve the efficiency of waste treatment and resource utilization[54]. - The company is actively developing hydrogen energy projects, including a hydrogen energy research center and solid-state hydrogen storage systems, to promote industry applications[120]. Market Trends and Industry Outlook - The overall market for waste incineration and wastewater treatment is projected to expand, driven by policy support and increasing demand, despite facing regulatory challenges[200]. - The industry is characterized by high capital intensity, with an average investment of approximately CNY 400,000 per ton of waste processed[63]. - Future trends indicate that the industry will move towards larger-scale operations and increased resource concentration among leading companies, while profit levels are expected to stabilize at reasonable levels due to competitive pricing[198].

记录表编号：2020-001 股票简称：圣元环保 证券代码：300867 圣元环保股份有限公司 投资者关系活动记录表 | --- | --- | |------------------------|------------------------------------------------------------------------------------------------------| | 投资者关系活动类别 | √ 特定对象调研□分析师会议□媒体采访 \n□ 业绩说明会□新闻发布会□路演活动 \n□现场参观□其他： ___________ | | 参与人员姓名及单位名称 | 东方证券股份有限公司 谢超波 | | 时间 | 2020 年 9 月 10 日 | | 地点 | 公司董事会秘书办公室 | | | | | 公司接待人员姓名 | 董事会秘书：陈文钰 证券事务代表：赵慰亭 | | 投资者关系活动 | 详见附件 | | 主要内容介绍 | | | 附件清单（如有） | 无 | 日期 2020 年 9 月 10 日 投资者调研会议记录 时间：2020 年 9 月 10 日上午 10：00-12： ...

记录表编号：2020-002 股票简称：圣元环保 证券代码：300867 圣元环保股份有限公司 投资者关系活动记录表 | --- | --- | |------------------------|------------------------------------------------------------------------------------------------------| | 投资者关系活动类别 | √ 特定对象调研□分析师会议□媒体采访 \n□业绩说明会□新闻发布会□路演活动 \n□ 现场参观□其他： ___________ | | 参与人员姓名及单位名称 | 华泰证券股份有限公司 王玮嘉、黄波 | | 时间 | 2020 年 9 月 24 日 | | 地点 | 公司董事会秘书办公室 | | | | | 公司接待人员姓名 | 董事会秘书：陈文钰 证券事务代表：赵慰亭 | | 投资者关系活动 | 详见附件 | | 主要内容介绍 | | | 附件清单（如有） | 无 | 日期 2020 年 9 月 24 日 投资者调研会议记录 时间：2020 年 9 月 24 日下午 14：30- ...

记录表编号：2021-005 股票简称：圣元环保 证券代码：300867 圣元环保股份有限公司 投资者关系活动记录表 | --- | --- | |----------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------| | 投资者关系活动类别 \n参与人员姓名及单位名称 | √特定对象调研□分析师会议□媒体采访 □业绩说明会□新闻发布会□路演活动 □现场参观□其他： ___________ \n兴业证券股份有限公司 蔡屹 兴业证券股份有限公司 李春驰 | | 时间 | 2021 年 5 月 28 日 | | | 地点 公司董事会秘书办公室 | | 公司接待人员姓名 | 董事会秘书：陈文钰 证券事务代表：赵慰亭 | | 投资者关系活动 主要内容介绍 | 详见附件 | | | 附件清单（如 ...

股票简称：圣元环保 证券代码：300867 圣元环保股份有限公司 投资者关系活动记录表 记录表编号：2021-007 | --- | --- | --- | |---------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------| | 投资者关系活动类别 \n参与人员姓名及单位名称 | √ 特定对象调研 □ 分析师会议 □ 业绩说明会 □ 新闻发布会 □ √ 现场参观 □ 其他： ___________ \n安信证券股份有限公司： 东吴基金管理有限公司： 宁波宁电投资发展有限公司：俞佳颖 | □ 媒体采访 路演活动 \n周喆、朱心怡 罗嘉玥 | | 时间 | ...

Group 1: Business Operations - The company primarily engages in urban solid and liquid waste treatment, with waste-to-energy operations contributing over 90% to its performance [4] - The cost of fly ash treatment is approximately 200 to 300 RMB per ton [4] - The company has established a stable solidification facility for fly ash and utilizes government or self-built landfills for disposal [4] Group 2: Expansion into Renewable Energy - The company plans to expand into solar and wind energy, leveraging its existing waste-to-energy operations [5] - The expansion is driven by local government support, project resource advantages, and the rich offshore wind resources in Fujian [5] - The synergy between waste-to-energy and renewable energy sectors allows for shared operational experience and customer resources [5] Group 3: Policy and Financial Implications - The company is responding to national policies promoting energy conservation and carbon neutrality by diversifying into renewable energy [5] - The subsidy for biomass power generation projects is capped at 82,500 hours or 15 years, whichever comes first [6] - The projected impact of subsidy reductions on profit margins is estimated at 4%, 8%, and 12% for reductions of 0.05, 0.10, and 0.15 RMB per kWh, respectively [7] Group 4: Project Development and Management - The company develops distributed photovoltaic projects using idle land and rooftops of existing waste-to-energy and sewage treatment plants [8] - The company has not entered the equipment manufacturing sector, focusing instead on project bidding for design and construction [8]

股票简称：圣元环保 证券代码：300867 圣元环保股份有限公司 投资者关系活动记录表 记录表编号：2022-002 | --- | --- | --- | --- | |-----------------------------|--------------------|----------------------------------------------------------------------------|-------| | 投资者关系活动类别 | √ □ 业绩说明会 | 特定对象调研 □ 分析师会议 □ 媒体采访 □ 新闻发布会 □ 路演活动 | | | | □ 现场参观 √ | 其他： 电话会议 第一场：安信证券股份有限公司，周喆 | | | 参与人员姓名及单位名称 | | 中庚基金管理有限公司，胡坤 第二场：中泰证券股份有限公司，汪磊、郑汉林 | | | 时间 | 2022 年 1 月 | 7 日 | | | | | 线上：电话会议 | | | 地点 | | 线下：公司总部 | | | 公司接待人员姓名 | | 董事长：朱煜煊 董事、副总经理、董事会秘书：陈文钰 证券事务代表助理：阎 ...

Business Overview - The company operates in three main business segments: waste-to-energy, wastewater treatment, and renewable energy [3] - Currently, there are 13 waste-to-energy projects and 5 wastewater treatment plants in operation [3] - The renewable energy segment includes 6 solar projects and ongoing development of offshore wind projects [3] Future Plans - The company aims to strengthen its core waste-to-energy business while aligning with national goals for carbon peak by 2030 and carbon neutrality by 2060 [3] - Plans to further develop solar and offshore wind energy projects are in place [3] Offshore Wind Energy Development - Fujian Province has a planned total installed capacity of 13.3 million kW for offshore wind energy, with 4.86 million kW already installed, ranking third in the country [4] - The province's development plan includes 17 wind farms and aims to develop 5 million kW of capacity in the Zhangzhou area [4] - The company is optimistic about the offshore wind energy market in Fujian and is actively tracking relevant policies [4] Waste-to-Energy Projects and Subsidies - In 2021, the company launched six new waste-to-energy projects, increasing waste processing capacity by 4,950 tons/day and installed capacity by 135 MW [5] - These projects are eligible for national subsidies and are expected to be included in the subsidy list in 2022 [5] Policy Changes and Impact - Recent changes in national subsidy policies for biomass power projects have been noted, with the company’s projects classified as non-competitive, thus maintaining a feed-in tariff of 0.65 CNY/kWh [5] - The impact of subsidy policy changes on the company's overall performance is expected to be minimal [5] Employee Stock Ownership Plan - The company launched its first employee stock ownership plan with a cap of 150 million CNY to enhance employee motivation and align interests [6] - The plan was approved by the shareholders and is currently in the implementation phase [6]