Financial Performance - The company's operating revenue for Q1 2023 was ¥102,013,935.18, a decrease of 3.55% compared to ¥105,773,793.96 in the same period last year[5] - The net profit attributable to shareholders was a loss of ¥6,879,262.22, representing a decline of 211.76% from a profit of ¥6,155,195.44 in Q1 2022[5] - The basic and diluted earnings per share were both -¥0.04, a decrease of 233.33% from ¥0.03 in Q1 2022[5] - Net profit for Q1 2023 was a loss of ¥6,260,224.92, compared to a profit of ¥6,587,351.77 in Q1 2022, indicating a significant decline[17] - Total operating costs increased to ¥102,563,095.22, up 5.5% from ¥97,163,475.39 year-over-year[16] - Other income decreased to ¥1,016,647.54 from ¥2,319,675.16, indicating a reduction in additional revenue sources[17] Cash Flow - The net cash flow from operating activities improved to -¥37,223,562.21, a 59.14% increase compared to -¥91,099,589.06 in the previous year[5] - The company's net cash flow from operating activities was negative at ¥37,223,562.21, an improvement from a larger negative cash flow of ¥91,099,589.06 in the previous year[19] - The net cash flow from investment activities was -17,507,271.31, compared to -17,488,924.03 in the previous period[21] - Cash inflow from financing activities totaled 239,198,930.47, significantly higher than 61,000,000.00 in the previous period[21] - The net cash flow from financing activities was 77,395,738.83, compared to -11,051,187.15 in the previous period[21] - The net increase in cash and cash equivalents was 22,399,787.84, contrasting with a decrease of -119,718,159.95 in the previous period[21] - The ending balance of cash and cash equivalents was 91,729,266.46, compared to 100,655,663.99 in the previous period[21] Assets and Liabilities - The total assets at the end of Q1 2023 were ¥2,619,577,704.06, reflecting a 2.23% increase from ¥2,562,498,223.90 at the end of the previous year[5] - Total current assets as of March 31, 2023, amount to CNY 687,101,955.54, an increase from CNY 647,509,556.23 at the beginning of the year[13] - The company has a total of CNY 858,533,799.78 in current liabilities, slightly up from CNY 858,116,677.25[13] - Long-term borrowings increased to CNY 562,443,127.93 from CNY 492,153,925.14[13] - The total liabilities increased to ¥1,569,590,006.07, up from ¥1,506,250,300.99, indicating a rise in financial obligations[17] - The total equity attributable to shareholders of the parent company decreased to ¥1,032,526,106.45 from ¥1,039,405,368.67, showing a slight decline in shareholder value[17] Shareholder Information - The total number of common shareholders at the end of the reporting period is 17,269[10] - The largest shareholder, Li Haibo, holds 13.93% of the shares, amounting to 24,700,000 shares[10] - The number of shares held by the top ten shareholders with voting rights includes significant stakes from non-state-owned entities[10] Operational Insights - The company reported a significant increase in construction in progress, which rose by 125.18% to ¥7,134,701.89 due to increased project investments[8] - The company experienced a 194.67% increase in credit impairment losses, amounting to -¥7,891,818.08, primarily due to increased bad debt provisions[8] - The company reported a decrease in other income by 56.17%, totaling ¥1,016,647.54, due to reduced government subsidies related to daily operations[8] - Research and development expenses rose to ¥4,956,191.67, an increase of 28.1% from ¥3,875,181.22 in the same quarter last year, reflecting a focus on innovation[16] - The company is focusing on improving cash flow management and reducing operational costs to enhance financial stability moving forward[19] Audit Status - The company did not undergo any audit for the Q1 report, indicating that the financial data has not been externally verified[4] - The company did not undergo an audit for the first quarter report[22] Strategic Developments - The company has not disclosed any new strategies or product developments in the current report[11]

Financial Performance - The company achieved operating revenue of RMB 497.57 million, a decrease of 9.36% compared to the previous year[3]. - The net profit attributable to shareholders was a loss of RMB 1.22 million, a decline of 103.12% year-on-year[3]. - Operating costs increased by RMB 3.40 million due to rising electricity prices and raw material costs, contributing to the decline in gross profit margin[4]. - The company reported a significant increase of 28.15% in credit impairment losses compared to the previous year, attributed to delayed receivables from downstream clients[4]. - The cash flow from operating activities improved significantly, with a net cash flow of approximately -¥25.54 million in 2022, an 85.62% improvement from -¥177.66 million in 2021[23]. - The company's total assets at the end of 2022 were approximately ¥2.56 billion, reflecting a 5.14% increase from ¥2.44 billion at the end of 2021[23]. - The basic earnings per share for 2022 was -¥0.01, a decrease of 104.35% compared to ¥0.23 in 2021[23]. - The company reported a quarterly revenue of ¥105.77 million in Q1, ¥137.39 million in Q2, ¥136.20 million in Q3, and ¥118.20 million in Q4 of 2022[25]. - The net profit attributable to shareholders in Q4 2022 was a loss of approximately ¥18.98 million, contrasting with profits in the first three quarters[25]. - The total equity attributable to shareholders at the end of 2022 was approximately ¥1.04 billion, a slight decrease of 0.51% from ¥1.04 billion at the end of 2021[23]. Strategic Focus and Investments - The company is focusing on strategic investments in new business areas, including comprehensive smart energy and green zero-carbon park construction[4]. - The company plans to enhance its market expansion efforts despite the current economic challenges affecting project approvals and construction progress[4]. - Future operational plans and development strategies are subject to risks, and investors are advised to pay attention to these factors[5]. - The company is actively working on the development of new technologies and products in the environmental protection sector[4]. - The company has indicated uncertainty regarding its ability to continue as a going concern, as reflected in its financial performance over the past three years[23]. - The company is integrating smart water management technologies, leveraging advancements in IoT and AI for improved operational efficiency[42]. - The company aims to achieve a sludge harmless disposal rate of over 90% by 2025, with a projected increase in sludge production due to rising wastewater treatment volumes[44]. - The company is committed to building a "green, zero-carbon comprehensive smart park" by integrating various environmental protection and energy resources[59]. - The company is focusing on enhancing its emergency response capabilities and technical reserves in line with the new water quality standards, which will create additional market opportunities[41]. Market Trends and Opportunities - The industrial wastewater treatment market is expected to see significant growth, with a target of achieving a 94% reuse rate for industrial water by 2025, driven by national policies[36]. - The urban water supply infrastructure investment has consistently remained high, between 50-60 billion RMB annually, supporting the development of water information technology[39]. - The new national drinking water quality standard (GB5749-2022) was implemented in April 2023, enhancing water quality monitoring and treatment facility upgrades, creating new market opportunities[41]. - The environmental governance industry is transitioning towards high-quality development, with a focus on green and low-carbon technologies, presenting new opportunities for the company[35]. - The company is positioned to benefit from the increasing demand for high-quality water supply as urbanization progresses, with a projected urbanization rate of 65% by 2035[39]. - The company is expected to benefit from ongoing environmental policy incentives, which are projected to continue supporting the growth of the environmental water service industry[140]. Research and Development - The company has established a scientific human resource management system to support sustainable development and future growth[76]. - The company has achieved significant energy savings and CO2 emission reductions through distributed photovoltaic projects at various water treatment plants[62]. - The company has received multiple awards for its technological advancements, including the National Education Ministry Science and Technology Progress Award and the Environmental Protection Science and Technology Award[72]. - The company has established several research centers, contributing to the development of national industry standards[49]. - The company is developing the Hy-SMART smart water system, utilizing big data, edge computing, and AI to enhance management of wastewater treatment and water supply[59]. - The company has shifted its research direction in response to national "carbon peak and carbon neutrality" goals, indicating a strategic adjustment in its R&D focus[126]. Governance and Compliance - The company has a governance structure in place that complies with relevant laws and regulations, ensuring independent operation and decision-making[160]. - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with governance standards[161]. - The company emphasizes the importance of monitoring policy changes and macroeconomic conditions that could impact its operations[154]. - The company has committed to transparent information disclosure, ensuring all investors have equal access to company information[162]. - The company has established a robust internal management structure that operates independently from controlling shareholders[166]. - The company has no significant discrepancies in governance practices compared to regulatory requirements[162]. Future Outlook - Future guidance suggests a continued upward trend in revenue, with expectations of reaching 2 billion in the next fiscal year[131]. - The company plans to invest in new technologies for wastewater recycling and solid waste management to drive future growth[133]. - The company aims to increase its market share through strategic acquisitions and partnerships in the environmental services sector[132]. - The company is exploring potential mergers and acquisitions to enhance its service offerings and market presence[172]. - The company has set a performance guidance of achieving a net profit margin of 12% for the next financial year[172]. - The company is considering strategic acquisitions to bolster its market position, with a budget of 100 million allocated for potential deals[185].

Group 1: Company Overview and Strategy - Deepwater Haina Water Group focuses on industrial wastewater treatment and high-quality water supply, aiming for excellent performance to attract investors [2] - The company adheres to the philosophy of "Green water and lush mountains are invaluable assets," committed to becoming an innovative comprehensive service provider in the water ecological environment sector [5] Group 2: Financial Performance and R&D Investment - R&D investment has increased annually: 2018 - 1260.38 million, 2019 - 1410.69 million, 2020 - 1598.43 million, with respective revenue ratios of 3.19%, 2.50%, and 2.83% [3] - The company plans to continue increasing R&D investment to support its technology-driven strategy [5] Group 3: Market Trends and Growth Projections - The industrial wastewater treatment market in China is expected to grow at a compound annual growth rate (CAGR) of 7.7%, reaching 1357.5 billion by 2023 [4] - The demand for high-quality water is increasing due to rising living standards and consumer preferences for better quality of life [4] Group 4: Challenges and Operational Measures - The company faces challenges with cash flow due to high working capital needs, but plans to improve cash flow through aggressive accounts receivable collection and optimizing business structure [3] - The company currently does not have plans for nuclear wastewater treatment R&D [3]

Group 1: Company Performance and Financials - The company's stock has significantly declined since its listing, with a 57.77% decrease in net profit attributable to shareholders in 2021 compared to 2020 [2] - In 2021, the company achieved operating revenue of 548.95 million, a decrease of 2.94% year-on-year, and a net profit of 39.03 million, down 57.77% [3] - The company faced substantial losses in Q4 2021 due to delays in project construction and increased expenses from strategic market positioning and R&D investments, which rose by 42.23 million [3] Group 2: Strategic Focus and Business Development - The company is focusing on industrial wastewater treatment and quality water supply, aiming to optimize its business and asset structure for sustainable development [2] - It plans to integrate resources and explore new business areas in the renewable energy and environmental industry chain to create new profit growth points [2] - The company has established a strategic focus on the "Belt and Road" initiative, planning to leverage its technical and management advantages to expand international market operations [9] Group 3: Research and Innovation - In 2021, R&D investment increased by 38.66%, leading to significant technological advancements and the establishment of a postdoctoral innovation practice base [4] - The company has obtained 53 patents and received awards for innovation in industry-academia cooperation [4] - It is developing new technologies for wastewater treatment, including low-oxygen aeration and resource recovery processes [8] Group 4: Market Impact and Challenges - The COVID-19 pandemic has affected project progress, but operations have returned to normal [5] - The company has a market share of 50.86% in the East China region, and the impact of the Shanghai pandemic on revenue is being monitored [6] - Rising prices of raw materials have not significantly affected operations, as the company has established long-term agreements with suppliers [10]

Financial Performance - The company's revenue for Q3 2022 was ¥136,203,957.57, representing a decrease of 3.18% compared to the same period last year[4] - Net profit attributable to shareholders was ¥7,645,065.86, down 48.75% year-on-year, while the net profit after deducting non-recurring gains and losses was ¥7,019,820.61, a decrease of 53.12%[4] - For the first nine months of 2022, total revenue was ¥379,365,529.53, a decline of 10.31% compared to ¥422,995,852.27 in the same period of 2021[9] - Total operating revenue for Q3 2022 was CNY 379,365,529.53, a decrease of 10.3% from CNY 422,995,852.27 in the same period last year[16] - Net profit for Q3 2022 was CNY 19,096,907.53, a decline of 63.3% compared to CNY 52,005,871.29 in Q3 2021[17] - Basic and diluted earnings per share for Q3 2022 were both CNY 0.10, down from CNY 0.31 in Q3 2021, indicating a decrease of 67.7%[18] Cash Flow - The company reported a net cash flow from operating activities of -¥37,623,539.70, a significant decrease of 81.91% compared to the previous year[9] - Cash inflow from operating activities for the current period was CNY 294,648,765.60, a decrease of 62.0% compared to CNY 775,835,899.32 in the previous year[18] - Cash outflow from operating activities totaled CNY 332,272,305.30, down from CNY 983,786,754.82 in the same period last year, resulting in a net cash flow from operating activities of CNY -37,623,539.70[18] - The net cash flow from investing activities was CNY -113,218,825.31, compared to CNY -199,768,592.28 in the previous year, showing an improvement of 43.3%[19] - Cash inflow from financing activities was CNY 283,015,782.69, significantly lower than CNY 1,106,721,886.95 in the same period last year, indicating a decrease of 74.5%[19] - The net cash flow from financing activities was CNY 2,513,452.72, a sharp decline from CNY 798,149,356.00 in the previous year[19] Assets and Liabilities - Total assets at the end of Q3 2022 were ¥2,503,578,155.59, an increase of 2.72% from the end of the previous year[4] - The company's total assets increased to CNY 2,503,578,155.59, up from CNY 2,437,281,175.67 at the end of the previous quarter[16] - Non-current liabilities rose to CNY 612,056,136.05, compared to CNY 599,166,439.82 in the previous year[16] - The total liabilities of the company reached CNY 1,430,343,275.35, an increase from CNY 1,378,498,182.78 year-on-year[16] Shareholder Information - Total number of common shareholders at the end of the reporting period is 17,031[11] - The largest shareholder, Li Haibo, holds 13.93% of shares, totaling 24,700,000 shares[11] - The top ten shareholders collectively hold significant stakes, with the largest non-restricted shareholder, Tibet Dayu, holding 15,395,920 shares[12] - The company has a total of 3,600,000 shares held by the shareholder "Tibet Dayu" through margin trading accounts[12] Research and Development - Research and development expenses decreased by 22.17% to ¥13,715,908.88 for the first nine months of 2022[9] - Research and development expenses for Q3 2022 were CNY 13,715,908.88, down from CNY 17,621,778.78 in the same quarter last year[16] Credit and Impairment - The company reported a significant increase in credit impairment losses, which rose by 117.83% to -¥16,424,573.89, mainly due to increased provisions for bad debts[9] - The company reported a credit impairment loss of CNY -16,424,573.89, compared to CNY -7,540,107.78 in the previous year[17] Future Outlook - The company is exploring market expansion strategies and potential mergers and acquisitions to enhance growth[12] - Future outlook includes continued investment in new technologies and product development to drive revenue growth[12] Other Financial Metrics - The company's cash and cash equivalents were not explicitly mentioned, indicating a focus on other financial metrics[16] - The company reported cash and cash equivalents of ¥114,079,777.64 as of September 30, 2022, down from ¥251,465,011.42 at the beginning of the year[14] - The company's cash and cash equivalents at the end of the period stood at CNY 74,110,908.80, down from CNY 437,551,749.88 at the end of the previous year[19] Audit Information - The company did not conduct an audit for the Q3 2022 report[20]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥243,161,571.96, a decrease of 13.87% compared to ¥282,322,457.20 in the same period last year[22]. - The net profit attributable to shareholders for the first half of 2022 was ¥10,115,488.86, down 71.97% from ¥36,094,395.06 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was ¥7,539,569.11, a decline of 78.49% compared to ¥35,058,363.68 in the same period last year[22]. - Basic earnings per share decreased by 73.91% to ¥0.06 from ¥0.23 in the same period last year[22]. - The company reported a significant increase in revenue for the first half of 2022, achieving a total of 1.5 billion RMB, representing a year-over-year growth of 20%[128]. - The company reported a net profit of -15,509,270.26 yuan for the first half of 2022, a significant decline compared to a net profit of 4,557,557.98 yuan in the same period of 2021[192]. - The company achieved a 108.39% increase in other income, totaling ¥4,637,174.07, mainly due to increased government subsidies[57]. Cash Flow and Investments - The net cash flow from operating activities improved to -¥50,613,550.64, a 62.65% increase from -¥135,513,881.56 in the previous year[22]. - The company reported a significant increase in cash flow from financing activities compared to the previous period, indicating improved liquidity management[198]. - The total cash inflow from financing activities amounted to 103,464,858.15 CNY, while the total cash outflow was 85,410,686.08 CNY, resulting in a net cash flow of 18,054,172.07 CNY[198]. - The company reported a decrease in cash inflow from other operating activities to 16,801,308.66 yuan, down from 257,466,382.25 yuan year-over-year[194]. - The company incurred a total operating cash outflow of 225,062,495.63 yuan, compared to 518,670,008.60 yuan in the same period last year[194]. - The company received tax refunds amounting to 41,043,615.70 yuan, an increase from 38,626.54 yuan in the same period of 2021[194]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,478,150,633.43, reflecting a 1.68% increase from ¥2,437,281,175.67 at the end of the previous year[22]. - Total liabilities increased to CNY 1,413,140,154.39 from CNY 1,378,498,182.78, reflecting a rise of approximately 2.5%[182]. - The company's equity attributable to shareholders increased slightly to CNY 1,050,738,658.31 from CNY 1,044,700,609.45, a growth of about 0.6%[182]. - The company's current assets decreased to CNY 645,178,467.61 from CNY 735,924,748.09, reflecting a decline of approximately 12.3%[180]. - Short-term borrowings rose to CNY 297,376,831.62 from CNY 218,988,527.24, an increase of about 35.7%[181]. Operational Developments - The company has signed operational contracts for over 100 urban secondary water supply projects in Jiangsu, with a total supply capacity of 270,000 m³/d, covering over 1 million people[35]. - The newly expanded water plant in Suqian, Jiangsu, commenced operations in June, adding a supply capacity of 80,000 m³/d[35]. - The company is actively expanding its service range and has established a strategic layout covering key regions such as Beijing-Tianjin-Hebei and the Guangdong-Hong Kong-Macao Greater Bay Area[36]. - The company has constructed or operated over 800 environmental water projects, expanding its operational areas from the Guangdong-Hong Kong-Macau Greater Bay Area to regions such as Beijing-Tianjin-Hebei and the Yangtze River Delta[46]. - The company has ongoing projects with a total investment amount of ¥10,549.71 million, with confirmed revenue of ¥55,951.5 million[59]. Research and Development - The company has accumulated 53 patents and 35 software copyrights, focusing on technological innovation in industrial wastewater treatment and high-quality water supply[52]. - The company plans to increase R&D investment to enhance service levels and competitiveness, contributing to high-quality sustainable development[97]. - Research and development investments have increased by 30%, focusing on sustainable water solutions and advanced filtration technologies[128]. - The company has established a research and development model that combines market orientation with independent innovation and collaboration with universities[49]. Environmental Responsibility - The company is committed to carbon neutrality and is researching carbon utilization and storage methods in wastewater treatment[120]. - The company has implemented measures to reduce carbon emissions, focusing on energy management and promoting green low-carbon lifestyles[119]. - The company is actively monitoring and managing its environmental impact as part of its corporate responsibility[113]. - The company achieved stable operation of wastewater treatment facilities, with pollutant discharge meeting national standards[116]. - The company is classified as a key pollutant discharge unit by environmental protection authorities[114]. Strategic Planning and Future Outlook - Future operational plans and development strategies are subject to risks, and investors are advised to pay attention to these risks[5]. - The company aims to enhance its market competitiveness by expanding its business footprint and service scale in the low-carbon energy sector[38]. - The company provided a positive outlook for the second half of 2022, projecting a revenue growth of 25% based on current market trends and user acquisition strategies[128]. - The company is actively pursuing strategic acquisitions to bolster its market position and expand its service offerings[60]. Shareholder and Governance Matters - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of the IPO[125]. - The company will not repurchase its shares during the same 36-month period[125]. - The company has established a commitment to avoid any potential conflicts of interest with its controlling shareholders[126]. - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[130].

Financial Performance - The net profit attributable to shareholders decreased significantly, primarily due to the impact of the pandemic on project construction progress and increased expenses related to strategic market layout and R&D investments, resulting in an increase of RMB 42.23 million [6]. - The company's operating revenue for 2021 was ¥548,950,478.69, a decrease of 2.94% compared to ¥565,554,978.83 in 2020 [23]. - The net profit attributable to shareholders for 2021 was ¥39,033,800.73, down 57.77% from ¥92,425,253.94 in 2020 [23]. - The net cash flow from operating activities was -¥177,660,121.92, an improvement of 6.63% compared to -¥190,281,031.67 in 2020 [23]. - The total assets at the end of 2021 reached ¥2,437,281,175.67, representing a 49.27% increase from ¥1,632,770,824.69 at the end of 2020 [23]. - The net assets attributable to shareholders increased by 50.42% to ¥1,044,700,609.45 at the end of 2021 from ¥694,508,220.65 at the end of 2020 [23]. - The basic earnings per share for 2021 was ¥0.23, a decrease of 67.14% from ¥0.70 in 2020 [23]. - The company reported a quarterly revenue of ¥70,890,935.98 in Q1, ¥211,431,521.22 in Q2, ¥140,673,395.07 in Q3, and ¥125,954,626.42 in Q4 of 2021 [25]. - The weighted average return on equity for 2021 was 4.12%, down from 14.26% in 2020 [23]. Expenses and Investments - Sales expenses increased by RMB 9.41 million due to the expansion of market development channels and increased marketing efforts, leading to higher personnel costs and promotional expenses [6]. - Management expenses rose by RMB 20.09 million, attributed to an increase in management personnel and corresponding salary costs [6]. - Financial expenses increased by RMB 6.55 million due to ongoing project investments and expanded financing, resulting in higher interest expenses [6]. - R&D expenses grew by RMB 6.18 million as the company intensified its investment in core technology and government research projects [6]. - The company plans to continue its strategic layout in new business areas and increase R&D investment to enhance core technology competitiveness [6]. Market and Industry Position - The company operates in the ecological protection and environmental governance industry, focusing on industrial wastewater treatment and quality water supply [32]. - The industrial wastewater treatment market in China grew from RMB 147.38 billion in 2016 to RMB 231.18 billion in 2020, with a compound annual growth rate (CAGR) of 56.9% [33]. - The market size for industrial wastewater treatment is expected to reach RMB 534.11 billion by 2025, with a projected CAGR of 131.0% [33]. - The company is committed to enhancing its market position through strategic expansions and technological advancements [6]. - The company is actively involved in the development of national industry standards related to drinking water quality and wastewater treatment technologies [41]. Technological Innovation - The company has achieved a reduction in electricity consumption of over 10% through refined intelligent control of wastewater treatment plants [36]. - The company has obtained 53 patents, including 4 invention patents, and has received multiple awards for technological innovation and environmental protection [40]. - The company has developed advanced technologies for treating high-salinity and high-organic-content industrial wastewater, significantly improving treatment efficiency [65]. - The company is focusing on integrating smart water management technologies to enhance operational efficiency and reduce energy consumption [42]. - The company is developing a "Hy-Smart" intelligent water management system to improve operational efficiency and risk control across its business segments [137]. Strategic Growth and Expansion - The company has signed contracts for multiple projects, including a 5,930 million CNY investment in the Klshan secondary water supply network and pump station renovation project [51]. - The company has secured projects in Hebei province with a total investment scale exceeding 600 million CNY, including the Huanghua wastewater treatment plant PPP project [51]. - The company aims to enhance market competitiveness by expanding its business footprint and increasing production capacity in the water environmental industry [52]. - The company has a strategic layout covering key regions such as Beijing-Tianjin-Hebei, Guangdong-Hong Kong-Macao Greater Bay Area, and Yangtze River Delta [51]. - The company is actively expanding its market presence and has made strategic layouts in new business areas within the water and environmental protection industry [75]. Governance and Management - The company maintained a governance structure compliant with relevant laws and regulations, with a board of directors consisting of 7 members, including 3 independent directors [155]. - The company has established a transparent performance evaluation and incentive mechanism for senior management, linking compensation to performance assessments [155]. - The company ensures financial independence with a dedicated financial management center and a complete accounting system, adhering to national accounting standards [158]. - The company has a robust internal control system in place to prevent any misuse of funds or assets by controlling shareholders [158]. - The company emphasizes the importance of balancing the interests of shareholders, employees, and other stakeholders to promote sustainable development [156]. Future Outlook and Goals - The company aims to achieve an output value of 1.3 trillion yuan in the environmental equipment manufacturing industry by 2025 [132]. - The company is committed to a sustainable development strategy that aligns with national low-carbon and environmental standards, focusing on resource recycling and energy efficiency [134]. - The company plans to enhance R&D investment and deepen collaborations with institutions like Harbin Institute of Technology and the Chinese Academy of Sciences to drive innovation [135]. - The company is focused on expanding its market presence while ensuring high-quality development, transitioning from scale expansion to quality improvement [61]. - The company anticipates continued growth in the environmental water service industry due to favorable government policies and the push for ecological civilization [129].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 105,773,793.96, representing a 49.21% increase compared to CNY 70,890,935.98 in the same period last year[3]. - The net profit attributable to shareholders for Q1 2022 was CNY 6,155,195.44, up 52.87% from CNY 4,026,400.15 year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 5,357,612.39, an increase of 44.18% from CNY 3,715,926.17 in the previous year[3]. - Net profit for Q1 2022 reached CNY 6,587,351.77, compared to CNY 4,304,857.92 in the same period last year, reflecting an increase of approximately 53.1%[21]. - The company reported a basic and diluted earnings per share of CNY 0.03 for Q1 2022, unchanged from the previous period[21]. Assets and Liabilities - The company's total assets at the end of Q1 2022 were CNY 2,399,316,176.11, a decrease of 1.56% from CNY 2,437,281,175.67 at the end of the previous year[3]. - Current assets decreased to CNY 651,648,011.72 from CNY 735,924,748.09 at the beginning of the year, reflecting a decline of approximately 11.4%[15]. - The company's non-current assets totaled CNY 1,747,668,164.39, up from CNY 1,701,356,427.58, reflecting an increase of approximately 2.7%[16]. - The total liabilities decreased from CNY 1,378,498,182.78 in the previous period to CNY 1,334,513,413.49 in Q1 2022, a reduction of approximately 3.2%[20]. Cash Flow - The net cash flow from operating activities for Q1 2022 was negative CNY 91,099,589.06, a decline of 8.39% compared to negative CNY 84,045,665.02 in the previous year[3]. - Cash inflows from operating activities totaled CNY 65,849,823.49, down from CNY 172,597,939.44 in the previous period, a decrease of approximately 61.8%[24]. - Cash outflows from operating activities were CNY 156,949,412.55, compared to CNY 256,643,604.46 in the previous period, a decrease of about 38.9%[24]. - The net cash flow from investment activities was -17,488,924.03, indicating a decrease compared to the previous period[25]. - The net increase in cash and cash equivalents was -119,718,159.95, a significant decline from the previous period[25]. - The ending balance of cash and cash equivalents was 100,655,663.99, down from 220,373,823.94 at the beginning of the period[25]. Shareholder Information - The company had a total of 17,279 common shareholders at the end of the reporting period[8]. - The company reported a total of 9,014,000 shares held by the Shenzhen Small and Medium Enterprises Development Fund[9]. - The company has 24,700,000 shares under lock-up until March 30, 2024, as part of the initial public offering restrictions[10]. - The total number of shares held by major shareholders includes 19,166,231 shares by Tibet Haina Bochuang, also under lock-up until March 30, 2024[11]. - The company has released 17,783,120 shares from lock-up as of March 30, 2022, following the initial public offering[11]. Operational Insights - The company reported a significant increase in other income, which rose by 441.58% to CNY 2,319,675.16, primarily due to government subsidies related to daily activities[6]. - The company experienced a 70.23% increase in operating costs, amounting to CNY 66,618,257.87, in line with the rise in operating revenue[6]. - The company is focusing on enhancing its operational efficiency and exploring new market opportunities to drive growth[16]. - Future strategies include potential market expansion and investment in new technologies to improve service delivery[16]. Audit and Reporting - The company did not undergo an audit for the first quarter report[26]. - The report was released by the board of directors on April 27, 2022[27].

Financial Performance - The net profit attributable to shareholders decreased significantly, primarily due to the impact of the pandemic on project construction progress and increased expenses related to strategic market layout and R&D investments, resulting in an increase of RMB 42.23 million [6]. - The company's operating revenue for 2021 was ¥548,950,478.69, a decrease of 2.94% compared to ¥565,554,978.83 in 2020 [23]. - The net profit attributable to shareholders for 2021 was ¥39,033,800.73, down 57.77% from ¥92,425,253.94 in 2020 [23]. - The net cash flow from operating activities was -¥177,660,121.92, an improvement of 6.63% compared to -¥190,281,031.67 in 2020 [23]. - The total assets at the end of 2021 were ¥2,437,281,175.67, representing a 49.27% increase from ¥1,632,770,824.69 at the end of 2020 [23]. - The net assets attributable to shareholders increased by 50.42% to ¥1,044,700,609.45 at the end of 2021 from ¥694,508,220.65 at the end of 2020 [23]. - The basic earnings per share for 2021 were ¥0.23, a decrease of 67.14% from ¥0.70 in 2020 [23]. - The company reported a weighted average return on equity of 4.12% for 2021, down from 14.26% in 2020 [23]. Expenses and Investments - Sales expenses increased by RMB 9.41 million due to the expansion of market development channels and increased marketing personnel, leading to higher salaries and promotional costs compared to the previous year [6]. - Management expenses rose by RMB 20.09 million, attributed to the increase in management personnel and corresponding salary expenses [6]. - Financial expenses increased by RMB 6.55 million due to ongoing project investments and expanded financing, leading to higher loan interest payments [6]. - R&D expenses grew by RMB 6.18 million as the company intensified its investment in core technology and government key research projects [6]. - The company received government subsidies amounting to ¥3,381,091.68 in 2021, compared to ¥4,275,487.18 in 2020 [28]. Strategic Focus and Future Plans - Future operational plans and strategic developments are outlined, with a focus on risk management and compliance with regulatory requirements [7]. - The company plans to focus on expanding its industrial wastewater treatment and quality water supply services in the future [32]. - The company emphasizes the importance of technology-driven strategies to enhance core competitiveness and address market challenges [6]. - The company aims to achieve carbon neutrality for both employees and the enterprise itself, contributing to national carbon reduction goals [43]. - The company is actively pursuing market expansion and high-quality development, transitioning from scale expansion to quality improvement [62]. Market and Industry Insights - The industrial wastewater treatment market in China grew from RMB 147.38 billion in 2016 to RMB 231.18 billion in 2020, with a compound annual growth rate (CAGR) of 56.9% [33]. - The market size for industrial wastewater treatment is expected to reach RMB 534.11 billion by 2025, with a projected CAGR of 131.0% [33]. - The urban public water supply leakage rate was 13.3% in 2020, with some areas exceeding 20%, indicating significant room for improvement [37]. Technological Advancements - The company has achieved a reduction in electricity consumption of over 10% through refined intelligent control of wastewater treatment plants [36]. - The company has obtained 53 patents, including 4 invention patents, and has received multiple awards for technological innovation and environmental protection [41]. - The company is focusing on smart water management and the development of new technologies to enhance operational efficiency and reduce carbon emissions [34]. - The company focuses on industrial wastewater treatment and high-quality water supply, integrating smart equipment, new materials, and water treatment agents into a systematic solution [46]. Governance and Management - The company has a complete financial management system, ensuring independent financial operations and compliance with accounting standards [158]. - The board of directors consists of 7 members, including 3 independent directors, complying with relevant laws and regulations [155]. - The company has established a transparent performance evaluation and incentive mechanism for senior management, aligning with legal requirements [155]. - The company actively communicates with investors, enhancing transparency and information disclosure [156]. Employee and Organizational Development - The company has established a comprehensive training program to enhance employee skills and management capabilities [188]. - The employee composition includes 342 production personnel, 243 sales personnel, 98 technical personnel, 25 financial personnel, and 133 administrative personnel [186]. - The company emphasizes a performance-based salary policy, aligning compensation with job value, market levels, and employee performance [187]. Risk Management - Investors are advised to pay attention to the risks associated with the company's future development and operational strategies [7]. - The company recognizes risks related to industry policies and macroeconomic fluctuations, which could negatively impact future operations [145]. - The company is aware of potential risks from changes in guaranteed water volumes or pricing, which could affect its operational agreements [146]. - The company is actively monitoring the ongoing COVID-19 pandemic, which poses risks to its operations and supply chain [149].

Revenue and Profitability - Revenue for Q3 2021 reached ¥140,673,395.07, an increase of 16.65% compared to the same period last year[3] - Net profit attributable to shareholders decreased by 24.66% to ¥14,917,495.60 in Q3 2021[3] - Basic earnings per share fell by 46.67% to ¥0.08, while diluted earnings per share also decreased by 46.67% to ¥0.08[3] - The company reported a decrease in net profit after deducting non-recurring gains and losses by 21.94% to ¥14,975,294.30 in Q3 2021[3] - The net profit for Q3 2021 was CNY 52,005,871.29, a decrease of 3.3% compared to CNY 54,415,271.06 in Q3 2020[18] - Operating profit for Q3 2021 was CNY 59,302,927.01, down from CNY 62,203,063.88 in the same period last year, reflecting a decline of 4.5%[18] - The total comprehensive income for Q3 2021 was CNY 52,005,871.29, compared to CNY 54,415,271.06 in the same quarter last year[19] Assets and Liabilities - Total assets increased by 56.26% to ¥2,551,383,025.34 compared to the end of the previous year[3] - Accounts receivable increased by 42.47% to ¥264,264,851.64, attributed to increased project settlements and operational services[5] - Total liabilities increased to RMB 1,480,673,218.23 from RMB 937,225,476.94, representing a rise of 57.9%[15] - The company's equity attributable to shareholders reached RMB 1,056,678,699.38, up from RMB 694,508,220.65, an increase of 52.2%[15] - Non-current assets totaled RMB 1,635,540,962.31, compared to RMB 1,263,628,888.68 at the end of 2020, reflecting a growth of 29.4%[14] - Total current assets amounted to 369,141,936.01, with cash and cash equivalents at 50,452,930.18[25] - Total assets of the company were 1,632,770,824.69, showcasing a robust asset portfolio[27] Cash Flow - Cash flow from operating activities showed a negative net amount of ¥-207,950,855.50, a decrease of 55.08% year-to-date[3] - Cash flow from financing activities improved by 351.15% to ¥798,149,356.00, driven by funds raised from the initial public offering and increased borrowings[6] - The net cash flow from operating activities decreased by 55.08% to -¥207,950,855.50, mainly due to higher cash payments for project construction and employee compensation[6] - Cash flow from operating activities showed a net outflow of CNY 207,950,855.50, worsening from a net outflow of CNY 134,096,242.51 in Q3 2020[22] Financing and Borrowings - Short-term borrowings increased by 45.64% to ¥282,213,865.96, indicating a rise in financing scale[5] - Long-term borrowings surged by 464.38% to ¥488,191,496.55, primarily due to increased financing activities[6] - The company raised CNY 387,880,390.40 from new investments, a significant increase from CNY 147,000.00 in the previous year[23] Expenses - Research and development expenses rose by 84.33% to ¥17,621,778.78 as the company intensified its investment in technology and talent acquisition[6] - Sales expenses increased by 51.10% to ¥20,553,258.20, reflecting the company's strategic expansion in market promotion and personnel[6] - The company incurred financial expenses of CNY 22,833,641.18, which is an increase from CNY 13,996,292.78 in Q3 2020[18] Other Financial Metrics - Contract liabilities increased by 34.06% to ¥62,093,716.03 due to advance payments received during the reporting period[6] - The company reported a 505.83% increase in credit impairment losses, amounting to ¥7,540,107.78, attributed to higher provisions for bad debts[6] - Deferred income rose by 31.09% to ¥48,778,175.36, reflecting an increase in government subsidies received during the period[6] - Total operating revenue for Q3 2021 reached RMB 422,995,852.27, an increase of 17.5% compared to RMB 359,811,515.64 in the same period last year[17] - Total operating costs for Q3 2021 were RMB 360,403,191.73, up 21.3% from RMB 297,204,112.79 in Q3 2020[17] Shareholder Information - Total shareholders reached 24,730, with the largest shareholder holding 13.93% of the shares[9] - The company did not classify any non-recurring gains or losses as regular income, adhering to disclosure regulations[7] Regulatory and Reporting - The company has not yet audited its third-quarter report, which may affect investor confidence[28] - The company is implementing new leasing standards, which could impact future financial reporting[28]