公司曾通过官方微信于10月初发布《从"生态主力军"到"生存困境"》一文，首次公开披露唐山花海项目 存在约5亿元欠款，彼时便引起生态环保行业与投资者的关注。 对于亏损原因，正和生态在三季报中披露称，公司1-3季度唐山花海项目回款不及预期，由于唐山花海 项目应收账款占比最大，账龄长，计提了信用减值，对利润造成负面影响。 中证报中证网讯（王珞）10月31日，正和生态（605069）发布的第三季度报告。报告显示，公司前三季 度营业收入同比下滑12.92%，归属于上市公司股东的净利润亏损2122万元；其中第三季度亏损额达 4536万元，同比降幅扩大至223.92%，业绩不及预期。 ...

Core Insights - The company reported a 12.92% year-on-year decline in revenue for the first three quarters, with a net loss attributable to shareholders of 21.22 million yuan, and a significant loss of 45.36 million yuan in the third quarter alone, marking a 223.92% year-on-year decrease, which was below expectations [2][2][2] - The primary reason for the losses was attributed to the underperformance of the Tangshan Huahai project, which had a significant proportion of accounts receivable and long aging, leading to credit impairment provisions that negatively impacted profits [2][2][2] - The company previously disclosed a 500 million yuan debt related to the Tangshan Huahai project, which has raised concerns within the ecological and environmental protection industry, highlighting the need for effective payment mechanisms to stimulate market vitality under supportive policies [2][2][2] Financial Performance - Revenue for the first three quarters decreased by 12.92% year-on-year [2] - Net loss for the first three quarters reached 21.22 million yuan [2] - Third quarter loss amounted to 45.36 million yuan, with a year-on-year decline of 223.92% [2] Project-Specific Issues - The Tangshan Huahai project is the largest contributor to accounts receivable, with significant aging issues leading to credit impairment [2] - The company revealed a 500 million yuan outstanding debt related to the Tangshan Huahai project, which has caused industry-wide concern [2] Industry Context - The situation reflects broader challenges in the ecological and environmental protection sector, emphasizing the need for companies to be able to "dare to work and receive payments" to truly stimulate market activity [2][2]