[年报]盈峰环境(000967):2022年年度报告（英文版）
原标题:盈峰环境:2022年年度报告（英文版） April 2023 2022 Annual Report Part I Important Notice, Table of Contents and Definitions The Board of Directors, the Board of Supervisors as well as the directors, supervisors and senior management of Infore Environment Technology Group Co., Ltd. warrant that the information in this report contains no misrepresentations, misleading statements or material omissions, and jointly and severally accept liability for the truthfulness, accuracy and completeness of information in this report. Ma Gang, the Company's legal representative, Wang Qingbo, the Company's principal officer in charge of accounting, and Wu Shanshan, the principal officer of the Company's accounting division (head of accounting) warrant that the financial statements contained in this report are truthful, accurate and complete. All directors of the Company attended the Board meeting to review this report. Any forward-looking statements such as future plans mentioned in this report shall not be considered as promises to investors. Investors are advised to pay attention to possible investment risks. The Board has approved a proposal for dividend plan as follows: based on the total share capital (minus shares in the Company's repurchase account) on the date of record for the 2022 final dividend plan, a cash dividend of RMB 1.10 (tax inclusive) per 10 shares will be distributed to the shareholders, with no bonus issue from either profit or capital reserves. CONTENTS Part I Important Notice, Table of Contents and Definitions ................................... 1 Part II Company Profile and Principal Financial Indicators ................................. 5 Part III Management Discussion and Analysis ...................................................... 11 Part IV Corporate Governance ................................................................................ 44 Part V Environmental and Social Responsibility ................................................... 69 Part VI Significant Events ........................................................................................ 81 Part VII Share Changes and Shareholder Information ........................................ 95 Part VIII Information on Preference Shares ........................................................ 104 Part IX Information on Bonds ............................................................................... 105 Part X Financial Report .......................................................................................... 109 Documents Available for Reference (I) Financial statements with signatures and seals of the legal representative of the Company, principal officer in charge of accounting and principal officer of the accounting division. (II) Original audit report with the seal of the accounting firm, and signed and stamped by certified public accountants (CPAs). (III) Originals of all corporate documents and announcements publicly disclosed on the website designated by the China Securities Regulatory Commission (CSRC) during the reporting period. The originals and legally effective photocopies of the aforesaid documents are available at the Company and the stock exchange for inspection by investors. Definitions
Part II Company Profile and Principal Financial Indicators I. Company Profile
The accounting firm engaged by the Company
?Applicable ?Not applicable
?Applicable ?Not Applicable VI. Major Accounting Data and Financial Indicators Whether the Company needs to retrospectively adjust or restate accounting data in previous years ?Yes ?No Reasons for retrospective adjustment or restatement Changes in accounting policy
produced before the fixed asset is ready for its intended use or during the R&D process, set out in the Interpretation of China Accounting Standards for Business Enterprises No. 15 issued by the MOF, and applied these provisions retrospectively to the sales of trial operation that occurred between the beginning of the earliest period presented in the financial statements and January 1, 2022. The lower of the net profit before and after non-recurring gains and losses is negative for the last three accounting years, and the latest auditor's report shows there is uncertainty as to the Company's ability to continue as a going concern. ?Yes ?No The lower of the net profit before and after non-recurring gains and losses is negative. ?Yes ?No VII. Accounting Data Differences Arising from Domestic/Overseas Accounting Standards 1. Differences in net profit and net assets under China Accounting Standards and International Accounting Standards ?Applicable ?Not Applicable No such differences during the reporting period. 2. Differences in net profit and net assets under China Accounting Standards and Overseas Accounting Standards ?Applicable ?Not Applicable No such differences during the reporting period. VIII. Quarterly Key Financial Indicators Unit: RMB
reports ?Yes ?No IX. Non-recurring Gains and Losses Items and Amounts ?Applicable ?Not applicable Unit: RMB
Other gains and losses are primarily gains of RMB 429,102.26 from the refund of personal income tax withholding fees, gains of RMB 17,460,524.12 from the additional deduction of input VAT, gains of RMB 51,896,314.25 from the re-measurement at fair value of the controlling stake in Lianjiang Green Oriental Environmental New Energy Co., Ltd., and losses of RMB 50,000,000.00 from the reversal of performance compensation to the original shareholders of Green Oriental Company. Explanation of classification of non-recurring gains and losses listed in the Explanatory Announcement No. 1 on Information Disclosure by Companies Offering Securities to the Public — Non-recurring Gains and Losses as recurring gains and losses ?Applicable ?Not applicable
Part III Management Discussion and Analysis I. Industry Performance During Reporting Period 1. Overview of the Smart Sanitation Industry th 2022 marked the convening of the 20th CPC National Congress and was a crucial year for implementing China's 14 Five- Year Plan. The CPC Central Committee, State Council, state ministries and commissions issued and refined a range of sanitation- related policies and standards, promoting the industry's marketization. The urban service market maintained robust momentum thanks to the sanitation marketization reform and the "urban steward" model. Driven by policy incentives, demand for environmental protection equipment remained high, indicating a positive outlook over the long term. However, the market experienced a continued decline from the previous year due to macroeconomic challenges. In 2023, the sanitation market is expected to further expand, as new energy sanitation approaches an economic inflection point. Numerous policies and implementing plans are anticipated to facilitate municipal governments in sanitation, leading to full marketization of the sanitation sector. Smart sanitation is an essential item of government spending, as it is closely related to people's livelihoods. The sector's long-term growth is not entirely connected with short-term economic volatility, and it is tied to long-term economic trends, policy directives, environmental requirements, and people's living standards. 2. Development Trends (1) Steady progress in marketization and gradual concentration of industry leaders The marketization of China's urban service industry refers to municipal governments' gradual withdrawal from the actual management and operation in the sanitation industry and a shift toward an operational model in which the government procures services from eligible service providers through open tenders. Under this model, local governments make use of the competitive market, exercise special supervision and use other means to effectively boost the service efficiency and quality of urban service providers. The government's ongoing investment and introduction of favorable policies that promote urban environmental development have expanded the domestic urban service industry's potential for growth. The marketization of China's domestic sanitation sector will further expand the industry's room for growth in the future. Players in the sanitation industry with competitive advantages such as good connections with the government, capital, management experience, strong brand effects and cost synergy are well positioned to seize the opportunities from the current wave of marketization, to achieve rapid growth. China's urban service industry is set for growth in the future. Increasing market concentration is also expected. (2) Rapid development of IoT and increased adoption of smart sanitation In addition to having huge growth potential, the sanitation industry has to cope with a wide range of challenges, including challenges in operating and supervising a great number of vehicles and equipment, managing numerous and dispersed personnel, managing infrastructure across districts, and monitoring and assessing widely-dispersed operating areas. The industry is characterized by numerous practitioners, wide service areas, and massive tasks. To overcome these challenges, it should prioritize efforts to optimize its service portfolio, such as adopting sanitation facilities powered by IT. In this context, smart sanitation is emerging as a trend in the sanitation management industry. Through the IoT-powered Smart Sanitation Cloud Platform, the Company monitors sanitation operations in real-time. It is capable of 24/7, all-round, seamless, precise, and efficient operation, maintenance, supervision, and management of service personnel, vehicles, objects, and events. This contributes to a holistic enhancement of urban governance and public services. (3) New opportunities from environmental protection equipment powered by new energy and smart technologies As China advances ecological construction, achieving carbon peak and neutrality has been included in the national plan for ecological endeavors. Against this backdrop, new energy-powered sanitation vehicles, an important segment of public service vehicles, will drive industry growth by enabling low-noise, zero-emissions and effective environmental protection. The increased adoption of 5G sanitation robots, autonomous sanitation vehicles, and small smart sanitation robots continues to expand the frontiers of the environmental protection equipment sector, and these fields have a very promising market. The future of urban/rural services is increasingly steered toward one that is smart, requires less or even no human labor. Small intelligent equipment and autonomous vehicles will present the next breakthrough. As the smart sanitation market expects environmental protection equipment to be increasingly intelligent and energy-efficient, companies with more technological achievements and stronger R&D capabilities will gain a bigger market share. For a detailed analysis on the industry, please refer to Discussion and Analysis on the Future Development of the Company. II. Principal Business During the Reporting Period 1. Principal activities Infore Enviro is a leading investor and operator in the urban service industry. With "smart sanitation" at the core of its business, the Company employs a flexible business model for investment and operation and integrates new energy equipment, autonomous vehicles and other smart environmental protection equipment with a smart platform that is powered by IoT, big data and advanced industry-specific technologies to improve segmented full cycle dynamic control. The Company provides customers with integrated IoT applications and a smart platform for operations and services across the full life cycle in areas such as cleaning and disinfection in urban and rural areas, domestic waste sorting, collection, transportation and disposal of solid waste, personnel management, collection and transportation of food waste, supervision of dirt transportation, leachate treatment and smart city development. In 2022, the Company rapidly enhanced its competitiveness in urban services, topping the industry rankings in terms of annual increase in contract value. The Company also ranked first in terms of sales of environmental protection equipment for the nd 22 consecutive year. 2. Principal products In terms of intelligent equipment, leveraging its leading position in the environmental protection equipment industry, strong R&D and manufacturing capabilities and a well-established nation-wide sales network, the Company forged a comprehensive suite of environmental protection equipment of over 400 models, providing customers with a wide range of solutions including a variety of sanitation and cleaning equipment, waste collection and transportation equipment, and new and clean energy environmental protection equipment. The Company's range of products spans from 5G sanitation robots, autonomous sanitation vehicles, small smart sanitation robots, new energy-powered environmental protection equipment, waste collection and transportation equipment, separate stations to sanitation and cleaning equipment, showcasing its leading R&D capabilities in intelligent equipment. Smart Sanitation Cloud Platform is a big data smart cloud platform developed in-house and a pioneering platform in China's sanitation industry that encompasses the full industrial chain. The platform is worth RMB 180 million, supported by over 20 smart sanitation-related copyrighted software and patents and integrating 5G, AI, big data, cloud computing, edge computing and other advanced technologies to form an immersive framework and develop core technologies such as integrated IoT applications, data communication, video command and control, safe driving tests, IoT software and hardware compatible technologies and big data applications. Through the platform, the Company can monitor all environmental sanitation service personnel, vehicles, objects, and events on a real-time basis. The Company has designed robust sanitation management models to boost operating quality, reduce operating costs, and make sanitation management effective through statistical data and assessments. At present, the platform is providing intelligent services for more than 70,000 products of customers across China, with over 30,000 daily active users. In the future, the Company will continue to apply digital technologies and create innovative intelligent equipment and smart service. Moreover, through in-depth integration into smart city development, it will continuously boost application of smart corporate cloud platforms to become a leader and enabler in digital transformation of the environmental sanitation sector by dint of intelligence. In terms of smart services, the Company's "Environmental Sanitation APP" enables remote monitoring, data collection and procedural approval for its line-up of smart equipment and products during operations. Through visualized data and automatic analysis, the Smart Sanitation Cloud Platform is capable of digitalized equipment management, sophisticated process management, and quantified materials management. This drives a digitalized, intelligent, IT-based, and integrated management approach throughout the entire sanitation process. 3. Technology accumulation and innovation (1) Cumulative R&D capabilities Infore Enviro's R&D team of environmental protection equipment comprises experts from national research institutions, having a powerful innovation DNA. The Company owns 944 patents, including 517 utility patents, 338 utility model patents, and 89 design patents. It leads the industry in terms of the number of technical and utility patents. Many national, industry, and local standards have been made under the direction of Infore Enviro. With provincial research centers, the Company has been recognized as a National Intellectual Property Competitive Enterprise and received numerous awards, including the China Patent Excellence Award, China Machinery Industry Science and Technology Award, Hunan Provincial Science and Technology Progress Award, and Huaxia Construction Science and Technology Award. It has obtained the first autonomous drive test license in sanitation. Furthermore, the Company was identified by the Ministry of Industry and Information Technology (MIIT) as a leading enterprise with key tasks in new-generation AI industry innovation, making it a top player in China's AI domain and a member of the "national team" of smart sanitation robot innovators. During the reporting period, the Company invested RMB 364 million in R&D, a 25.63% increase year-on-year (YoY). In 2022, it continued to improve and innovate in product tech, with 231 patent applications, including 102 utility patents, 109 utility model patents, and 20 design patents. (2) Innovation of cloud platform Smart Sanitation Cloud Platform is a big data smart cloud platform that was developed in-house by the Company. By integrating advanced underlying technologies such as big data, cloud computing, IoT, mobile Internet and AI into the platform, the Company developed core technologies such as integrated IoT applications, data communication, video command and control, safe driving tests, IoT software and hardware compatible technologies and big data applications. The seamless integration of environmental protection equipment and operations allows the platform to achieve real-time connectivity between urban service personnel, vehicles, objects, and events as well as standardized, digitalized and smart operation and management. In terms of smart governance, the Company established a digital operation and management system for plants, stations and equipment on the cloud platform. Through smart and safe operation that requires less labor and energy consumption, the Company strives to develop competitive advantages with smart governance. The platform is supported by over 20 smart sanitation-related software copyrights and patents and has won accolades such as the MIIT's 2019 Pilot Demonstration of the Integration of Key Industries and the Internet, 2021 Outstanding Cases of Mobile IoT, 2021 Excellent Industrial App of Hunan, 2022 Changsha's Key R&D Project ? Garbage Classification Collection and Transportation System Based on Image Recognition and CNN Deep Learning Algorithm and 2022 Changsha Torch Plan for Intelligent Vehicle Industry Ecosystem. The platform has provided smart services to over 70,000 products of customers. (3) Leader in new energy Pioneering the development of new energy in the sanitation industry, the Company offers the most comprehensive portfolio of new energy products in the industry. Infore Enviro started the research and development of new energy-powered environmental protection equipment in 2007 and successfully developed the first pure-electric sweeper truck in China in July 2008. The Company was tasked with the cleaning and sanitation of the streets during the 2008 Beijing Olympics. Three decades of sustained R&D in sanitation vehicles and over a decade of hard work have led Infore Enviro into developing over 40 types of new energy vehicles for cleaning, washing, waste collection and urban sanitation. Its nearly 200 vehicle models form the most comprehensive suite of new energy-powered sanitation vehicles in China. During the reporting period, the Company launched its fifth generation of new energy-powered environmental protection equipment, as the industry's most comprehensive range of products, including over 100 varieties that cover road sweeping and washing, garbage transportation, urban landscape, solar power cleaning, and mobile charging. Additionally, it unveiled the industry's first domain controller platform to fully integrate the chassis-control system of the chassis and upper installation, with platformized hardware, integrated software, modular functionality and scene-based products. The Company has reduced system costs by 9% while increasing system performance by 15%, leading the innovative development of new energy sanitation. This helps customers cut lower purchasing and operating costs. (4) Pioneer in smart sanitation robots The Company has independently developed over 10 models of smart sanitation robots (both basic and 5G smart models are available) and offers the most comprehensive suite of cutting-edge smart sanitation robots in the market. The entire series of products are integrated with core technologies such as green new energy, 5G+AIOT cluster control, AI, machine vision, and 360- degree image recognition and are equipped with sensors such as laser radar, ultrasonic radar, high precision differential GPS, 360- degree cameras, allowing for smart robotic operations and smart navigation as well as paving the way for a more diverse operational capacity in a wide range of locations and scenarios. The Company's first "5G Cloud + Sanitation Robot" is a smart remote cluster model of operation that redefines how sanitation is carried out. By raising the standards of digitalization and efficiency in the industry drastically and reducing safety risks to sanitation personnel as well as labor costs, the new model of operation presents clear social benefits for the community and economy. The Company's 5G smart sanitation robot crew has been deployed in Shenzhen, Changsha and Suzhou. The crew has become a new benchmark for smart urban sanitation and has been repeatedly recognized by government agencies and other associations as a model for technological innovation that breathes new life into the traditional sanitation industry with AI. The 5G smart sanitation robot crew digitalizes and informatizes urban sanitation, raises the capabilities for and standards of informatization in the sanitation industry and improves the standards of sophisticated management of urban public services, creating a better living environment for the people. Other businesses of the Company primarily include environmental monitoring, solid waste treatment, and ventilator equipment manufacturing. The Company's environmental monitoring business covers the monitoring of smoke, air quality, haze, water quality, water conservation, soil and dust and the provision of an integrated one-stop service for environmental protection, water conservation, water supply and smart cities. The sales of products form the main part of the business and are supplemented by the provision of services for operation and maintenance. The Company's solid waste disposal business primarily encompasses the incineration of domestic waste to generate energy, the landfilling of domestic waste, the recycling of food waste and the utilization of solid waste in industrial parks. With waste-to- energy projects as the core, the industrial parks of solid waste recycling are equipped with treatment facilities for domestic waste disposal, hazardous waste disposal, sludge treatment, food waste treatment, sewage treatment, construction wastewater treatment, ecological restoration of landfills, leachate treatment and fly ash disposal. Their operating model is Public-Private Partnership (PPP). （未完）  |