() The business review of the Board of Directors in 2022 is as follows:

　　I. The industry in which the company is located during the reporting period.

　　1, the basic situation of the industry, development stage, cyclical characteristics.

　　During the "Tenth Five-Year Plan" period, China took "raising gas, reducing carbon, strengthening ecology, increasing water, consolidating soil and preventing risks" as the basic idea, and stressed that it was necessary to achieve new breakthroughs in key areas and key indicators such as industrial sewage treatment, industrial park management, high-end equipment and carbon neutrality, and continue to carry out various special actions to prevent and control pollution. Water, soil, solid and waste gas will continue to be under strict supervision. With the innovation of supervision means and mechanism, on the one hand, after the "Double Carbon Strategy" was put forward, traditional environmental protection developed into green environmental protection, and emerging fields such as clean energy, energy saving and low carbon, and green recycling, which are closely related to double carbon, were included in the category of green environmental protection, stimulating the green environmental protection industry to usher in major development opportunities; On the other hand, a large number of state-owned enterprises and central enterprises have entered the field of ecological environment by setting up environmental protection companies or participating in the mixed reform of private environmental protection enterprises. The environmental protection industry has entered the form of industrial collectivization and developed into a comprehensive service group with nationwide and whole industrial chain, and the industrial competition pattern has further intensified.

　　(1) Water treatment industry

　　The 19th National Congress of the Communist Party of China has made comprehensive arrangements for strengthening the construction of ecological civilization, fighting a tough battle against pollution and building a beautiful China. As the task of implementing the overall layout of "five in one" such as "ecological civilization construction" and winning the key plan of "fighting a tough battle against pollution" and "building a beautiful China", the battle for clear water has been promoted to a historic strategic height. In recent years, The state has successively issued a number of sewage treatment-related policies, such as the Master Plan for Major National Projects for the Protection and Restoration of Important Ecosystems (2021-2035), the Implementation Plan for the Shortcomings and Strengths of Urban Domestic Sewage Treatment Facilities, the Guiding Opinions on Promoting the Reuse of Sewage, the Opinions of the State Council City, the Central Committee of the Communist Party of China on Promoting Rural Revitalization in an All-round Way and Accelerating the Modernization of Agriculture and Rural Areas, and the Development Plan for Urban Sewage Treatment and Reuse in the Tenth Five-Year Plan, which involve the prevention and control of water pollution and the marketization mechanism of sewage treatment. During the "Tenth Five-Year Plan" period, sewage treatment and resource utilization have been steadily promoted, with county sewage treatment, urban sludge disposal and reclaimed water utilization as the main incremental space, and facilities construction focused on four major directions: pipe network, treatment facilities, recycling facilities and sludge disposal. In March 2022, four ministries and commissions, including the Ministry of Housing and Urban-Rural Development, jointly issued the "Implementation Plan for Deepening the Fight against Urban Black and Odor Water", and the Ministry of Ecology and Environment and the Ministry of Housing and Urban-Rural Development issued the "Environmental Protection Action Plan for Urban Black and Odor Water Remediation in the Tenth Five-Year Plan" to further refine the urban black and odorous water remediation work.The main battlefield of black and odorous water bodies extends to county-level cities. The action plan requires that by 2025, the proportion of black and odorous water bodies in county-level urban built-up areas will reach 90%; For the cities at or above the county level that have completed the treatment and realized that the water body is neither black nor smelly, it is necessary to consolidate the effect of urban black and odorous water body treatment and establish a long-term mechanism to prevent the black and odorous water body from returning. In June 2022, the Ministry of Industry and Information Technology and other six departments issued the Action Plan for Improving Industrial Water Efficiency, which pointed out that efforts should be made to break through the key common technologies of water saving such as treatment and recycling of high-concentration organic wastewater and high-salinity wastewater, high-performance membrane materials, high-efficiency catalysts, green chemicals, intelligent monitoring and optimal control. "peak carbon dioxide emissions" and "carbon neutrality", as one of the important targets of China’s "Fourteenth Five-Year Plan" pollution prevention and control, promote the industry to pay more attention to low-carbon and resource utilization, and the sewage treatment will develop in the direction of low-carbon operation and green transformation.

　　(2) Soil remediation industry

　　In order to thoroughly implement the Law of People’s Republic of China (PRC) on the Prevention and Control of Soil Pollution and the Action Plan for the Prevention and Control of Soil Pollution, in recent years, the relevant state administrative departments have successively promulgated a series of management policies and technical guidance documents for the soil remediation industry, mainly involving standardized management of the industry, financial support and technical upgrading. In December 2021, the Ministry of Ecology and Environment, together with the Development and Reform Commission, the Ministry of Finance, the Ministry of Natural Resources, the Ministry of Housing and Urban-Rural Development and other departments, jointly issued the "Tenth Five-Year Plan" for Soil, Groundwater and Rural Ecological Environment Protection (hereinafter referred to as the "Plan").

　　The Plan sets targets in two stages. By 2025, the environmental quality of soil and groundwater in the whole country will remain stable, and the safe use of polluted cultivated land and key construction land will be consolidated and improved. By 2035, the national soil and groundwater environmental quality will be stable and good, the soil environmental safety of agricultural land and key construction land will be effectively guaranteed, and the soil environmental risks will be fully controlled. In February, 2022, the State Council issued the Notice on Carrying out the Third National Soil Survey, and decided to carry out the third national soil survey from 2022, with four years to comprehensively find out the soil quality of agricultural land, especially focusing on agricultural land soil survey. As the census work is rolled out in various places, the orders related to soil testing will continue to increase, opening up new development space for the third-party environmental testing service industry; On February 11th, 2022, the State Council issued the "14th Five-Year Plan to Promote Agricultural and Rural Modernization". Combined with China’s new development concept and the goal of basically realizing beautiful China in 2035, it is predicted that the soil remediation industry will enter a critical period of high-quality development during the 14th Five-Year Plan period.

　　(3) solid waste treatment and disposal industry

　　During the "Fourteenth Five-Year Plan" period, the construction of domestic waste classification and treatment facilities entered a critical period. In order to guide and promote the planning and construction of domestic waste sorting and treatment facilities in China, the National Development and Reform Commission and the Ministry of Housing and Urban-Rural Development organized and compiled the Development Plan of Urban Domestic Waste Sorting and Treatment Facilities in the Tenth Five-Year Plan. In terms of specific targets, by the end of 2025, the utilization rate of domestic waste resources in China will reach about 60%, and the sorting and transportation capacity will reach about 700,000 tons/day. In recent years, the state has successively promulgated policies and regulations such as Technical Policy for Urban Domestic Waste Treatment and Pollution Prevention and Control, National Construction Plan for Hazardous Waste and Medical Waste Disposal Facilities, and formulated a series of national and industrial standards such as Pollution Control Standard for Domestic Waste Landfills, Project Specification for Domestic Waste Treatment and Disposal, and Pollution Control Standard for General Industrial Solid Waste Storage and Disposal Sites, which has promoted the standardization and rapid development of this industry. The newly revised Law of People’s Republic of China (PRC) on the Prevention and Control of Environmental Pollution by Solid Waste and the National Hazardous Waste List (2021 Edition) were published to the public, which showed that the policy system of China’s solid waste industry has been continuously improved and the control measures and efforts have been continuously strengthened. In December 2021, the Ministry of Ecology and Environment and other departments jointly issued the Work Plan for the Construction of "Waste-free Cities" during the Tenth Five-Year Plan period to promote the construction of "Waste-free Cities" in about 100 cities at prefecture level and above; In June 2022, the "Implementation Plan for Pollution Reduction and Carbon Reduction Synergy" issued by the Ministry of Ecology and Environment and other seven departments proposed that in terms of solid waste treatment, by 2025,The comprehensive utilization rate of new bulk solid waste reached 60%, and the stock of bulk solid waste decreased in an orderly manner; Strengthen the reduction, recycling and harmless treatment of domestic waste, vigorously promote waste classification, optimize the treatment and disposal methods of domestic waste, and strengthen the resource utilization of recyclable materials and kitchen waste. The introduction of relevant policies will further promote the accelerated release of market space in various fields of the solid waste industry chain.

　　(4) Manufacturing of environmental protection equipment

　　Environmental protection equipment manufacturing industry is an important part of energy-saving and environmental protection industry. In recent years, the overall demand of environmental protection industry has increased rapidly, and environmental protection equipment manufacturing industry has broad market prospects. "Guiding Opinions of the Ministry of Industry and Information Technology on Accelerating the Development of Environmental Protection Equipment Manufacturing Industry" points out: "Guide the differentiated, clustered and integrated development of industries. Leading enterprises in environmental protection equipment are encouraged to develop into integrated service providers integrating system design, equipment manufacturing, engineering construction, commissioning and maintenance, and operation management. Small and medium-sized enterprises are developing in the direction of "specialization and novelty" with product specialization, intensive research and development, service characteristics and new formats, forming a number of gathering areas led by leading enterprises, supporting small and medium-sized enterprises and coordinated development of industrial chains. Guide the integrated development of environmental protection equipment manufacturing with the Internet and service industries, actively explore new models and new formats, and accelerate the improvement of service capabilities and investment and financing capabilities of manufacturing enterprises. " In January 2022, the Ministry of Industry and Information Technology and other three departments jointly issued the Action Plan for High-quality Development of Environmental Protection Equipment Manufacturing Industry (2022-2025), proposing that by 2025, the technical level of environmental protection equipment manufacturing industry will be significantly improved, and the output value of environmental protection equipment manufacturing industry will strive to reach 1.3 trillion yuan. This is the first time that the "Action Plan for High-quality Development of Environmental Protection Equipment Manufacturing Industry" has been issued at the national level, which has pointed out the direction for the development of environmental protection equipment manufacturing industry in the next few years.

　　2. The industry status of the company.

　　After years of leap-forward development, the company has achieved domestic leading and international leading position in many sub-sectors, won national and provincial-level honors for many core technologies, and listed many core equipment in the catalogue of major environmental protection technologies and equipment encouraged by the state, key new products, the first set of major technical equipment in China, Guangxi famous brand products, etc., forming a product promotion layout of "based on China, facing ASEAN and connecting with the world". Technology and products are exported to ASEAN, Eastern Europe, West Africa, South America and other overseas markets, becoming a leading environmental brand with strong international competitiveness in China, gradually infiltrating from the traditional water pollution control to all aspects of comprehensive environmental management, from the domestic single market to globalization and internationalization, from a single pollution source control index to the whole environmental management system effect, from the initial "equipment+engineering" business model to environmental technology services, environmental consulting services, environmental equipment manufacturing, environmental operation services and other industrial chains. Based on solving the key common technologies of industrial development, the company has continuously improved its independent innovation and R&D capabilities, and built a benign operation mechanism from technological achievements and products to industrial applications. At present, it has formed a technological innovation system of basic theoretical research on environmental protection, R&D and application of key environmental technologies, and integration of production and education, striving to become a leader in technological innovation and development of domestic environmental protection industries, and further consolidating its strategic positioning as a "comprehensive environmental service provider with sustainable innovation capabilities and independent core technologies".

　　

　　II. Main businesses of the Company during the reporting period

　　1. Overview of the company’s main business during the reporting period.

　　Guided by improving environmental performance and solving environmental problems, the company is committed to providing customers with comprehensive solutions for comprehensive environmental management in many fields and directions. Its core businesses mainly include comprehensive environmental management services focusing on industrial environmental management and clean production, municipal environmental management and ecological restoration, soil remediation, solid (hazardous) waste disposal and smart sanitation. Equipment manufacturing and sales business focusing on research and development, manufacturing and sales of multi-field environmental protection equipment; The operation business mainly includes waterworks, sewage treatment plants, sanitation integration, terminal operation of sludge and contaminated soil disposal, etc. Comprehensive environmental consulting services focusing on environmental impact assessment and environmental consultation, inspection and testing, engineering design and environmental monitoring. The service scope covers the whole industrial chain of environmental protection such as consultation, design, environmental assessment, testing, research and development, equipment manufacturing, engineering construction, investment and operation.

　　2. Main products of the company and their uses during the reporting period.

　　(1) Water environment control technology

　　In the field of industrial pollution control, during the reporting period, the company’s anaerobic, Fenton and sand filtration technologies were continuously optimized, and new anti-calcification anaerobic reactors were widely used. In view of the treatment of high-concentration organic wastewater such as landfill leachate, petrochemical wastewater and chemical wastewater, which is difficult to separate organic and inorganic components, the company independently developed UBEF biological enhanced filter, catalytic electrolysis, concentrated salt separation and other technologies. At present, UBEF biological enhanced filter technology has been put into operation in Guangxi and Guangdong, and its performance fully meets the design requirements. The technology for full quantitative disposal and concentrated evaporation of landfill leachate has been put into operation in many projects and has entered the equipment debugging link one after another; The catalytic electrolysis technology has completed the pilot test in the environment of high-concentration and high-salt chemical wastewater, chemical reuse membrane concentrated water and landfill leachate concentrated solution, and the test results have reached the expected goal.

　　(2) Key equipment and technology of clean pulp bleaching-large chlorine dioxide preparation system and related chemical technology.

　　After more than ten years of technology accumulation, the company’s self-developed "large-scale chlorine dioxide preparation system and key technology and application of chlorine-free bleaching of pulp" won the second prize of national technological invention in 2019. This technology has broken the monopoly of foreign technology, greatly reduced the investment cost, achieved zero breakthrough in the overseas export of this kind of products in China, effectively reduced the environmental pollution caused by pulp bleaching, and promoted clean production in the paper industry; The company has also developed the preparation technology of chlorine dioxide by double electrolysis, as well as clean and efficient production technologies of chemicals such as sodium chlorate, caustic soda, hydrogen peroxide, potassium chlorate, potassium perchlorate, chlorine-consuming products (trichloroisocyanuric acid, polyaluminum chloride, bleaching powder concentrate, ADC foaming agent, etc.), which provides strong technical support for the upgrading and transformation of papermaking and related chemical industries.

　　(3) Soil environmental restoration

　　Focusing on the disposal goal of "reduction, recycling and innocuity" of oily sludge, the technical bottlenecks of low thermal efficiency, small capacity, heavy recovered oil and low gas production rate of existing pyrolysis equipment were solved, and the technical route of "carbon reduction, carbon emission reduction and carbon recovery" was explored. During the reporting period, the company optimized the equipment process of the new pyrolysis system (OTTU), combined with the process of condensing and purifying pyrolysis gas to recover oil/gas. While ensuring that the oil content of the treated muck is lower than 0.3% (agricultural sludge grade B standard), fully optimize the thermal efficiency of the equipment and the oil sludge treatment capacity, and provide technical support for the production increase and efficiency increase of Xinjiang Aksu oil sludge disposal project and Ningbo Fuhai oil waste harmless disposal project.

　　In view of the contaminated soil in chemical industry, mining, dressing and metallurgy, the company continued to carry out research on technologies, equipment and processes such as soil synergistic bioleaching, eluent recovery and waste liquid purification in combination with the national key research and development plan "Antimony and arsenic pollution source blocking and ecological treatment technology in antimony mining areas". The developed green and efficient biological leaching agent can reach the first-class leaching efficiency of heavy metal contaminated soil above 90%. Through the developed solid-solid conversion process, more than 50% of the biological eluent can be recovered from the leaching waste liquid, which can further reduce the dosage and technical cost while ensuring the leaching efficiency, maintain soil microbial metabolism and organic and inorganic carbon pools to the greatest extent, and ensure soil carbon sink capacity; After purification, the waste liquid can meet the first-class B standard of urban sewage discharge, and finally reduce the amount of polluted earthwork, pollutants and pollution discharge.

　　In the field of comprehensive management and ecological restoration of mines and river basins, the company has developed in-situ blocking and in-situ purification technology of heavy metal pollution, multi-layer covering and strongly reducing microbial mineralization technology and carried out industrial application demonstration in combination with the national key R&D plan "Pollution Restoration Technology and Engineering Demonstration in the Affected Area of Southwest Nonferrous Metal Dressing and Smelting Slag Yard". At the same time, in view of agricultural non-point source pollution control, based on the national needs of rural revitalization, agricultural green development, bio-economic development, and combined with the national key research and development plan "New Functional Materials for Active Passivation of Cationic Heavy Metals in Site Soil", the microbial soil quality-enhancing and efficiency-improving materials were developed by using agricultural solid waste, meeting the technical indicators of Compound Microbial Fertilizer Standard (NY/T798-2015), simultaneously improving the soil structure and adjusting the soil pH value. Supplementing soil nutrition, enhancing crop disease resistance and stress resistance, promoting high yield and high quality of rice, vegetables and fruit trees, etc. At present, it has been demonstrated and popularized in Nanning, Chongzuo, Baise, Guigang and other places in Guangxi.

　　(4) Solid hazardous waste disposal

　　During the reporting period, in view of the comprehensive utilization of aluminum electrolysis overhaul slag, through the research of rapid and efficient detection technology of main elements in aluminum electrolysis overhaul slag treatment, cyanide breaking technology of complex cyanide, removal of complex fluoride and recovery of fluorine resources, evaporation crystallization and recycling technology of high-salt wastewater, and wet harmless and recycling technology of waste cathode carbon blocks from aluminum electrolysis overhaul slag, Solve the technical problems of chlorine-free and low-salt efficient removal and detoxification of complex cyanide, conversion, removal and recovery of complex fluoride in aluminum electrolysis overhaul slag under high salt and high alkali conditions, and realize efficient continuous countercurrent leaching, toxicity removal and long-term stabilization of harmless slag. At present, the small-scale experiment, pilot experiment and industrial application demonstration of resource utilization of overhaul slag have been completed, and a complete set of technology for harmless and resource treatment of overhaul slag has been successfully developed. At the same time, the company also carries out technical optimization research and industrial application promotion in the fields of carbon residue, carbon sludge and fluorine-containing wastewater treatment in aluminum electrolysis industry.

　　In order to promote the green closed-loop development of new energy materials and automobile industry, and explore a new route of full-quantified comprehensive utilization of waste lithium batteries, the company developed a "two-step recycling technology of low temperature reduction-gradient acid leaching" system to solve the technical problems such as low recovery rate of valuable elements extracted from waste lithium batteries and battery factory waste, incomplete impurity removal and purification of complex nickel-cobalt-manganese-lithium solution system, low recovery rate of lithium precipitation and poor full-quantified recycling path of three wastes. Efficient extraction of valuable metals from waste lithium batteries, selective recovery of metals by multi-stage extraction technology to form high value-added products such as cobalt sulfate, nickel sulfate, manganese sulfate, copper sulfate and lithium carbonate, and at the same time, efficient defluorination, fluoride precipitation and purification systems for lithium battery electrolyte fluoride are constructed to recover fluorine resources, recycle carbon powder and reuse iron resources. This technical system is used in the comprehensive recycling of waste lithium batteries. At present, the recovery rate of nickel and cobalt is over 99.3%, the recovery rate of lithium is over 90%, and the recycling rate of process wastewater is over 95%. At present, the small-scale and pilot-scale experimental research on the recovery and purification of high-priced metals has been completed, the recycling of solid waste, tail gas and wastewater is being tested and studied, and the recycling technology is being industrialized and applied.

　　(5) Civil and industrial disinfection technology and equipment

　　During the reporting period, the company developed a series of chlorine dioxide solid disinfectants and disinfection equipment with core technologies around the fields of drinking water safety, respiratory health and fruit and vegetable preservation that people pay close attention to. Among them, the series of chlorine dioxide solid disinfectants include high-content AB powder, compound unitary powder portable effervescent tablets and acid-base resistant degradable air purification gel; The series of disinfection equipment includes sodium hypochlorite generator, chlorine dioxide generator, intelligent disinfection dosing device, integrated sanitation, deodorization and disinfection machine, garbage deodorizer, low-temperature disinfectant and so on. Series chlorine dioxide solid disinfectants have the characteristics of good stability, green economy and convenient use. It can be used in public health and safety, air purification, sewage treatment, fruit and vegetable preservation and other fields, which greatly broadens the application scene of ClO2 disinfectant. Series disinfection equipment has the characteristics of safe and reliable operation, high conversion efficiency of raw materials, simple operation and maintenance, and wide application scenarios.

　　Up to now, the core technology products have been popularized and applied in more than 50 projects in hospitals and international health stations, such as sewage disinfection, industrial and municipal water supply and drainage disinfection, air disinfection and purification, and fruit and vegetable preservation, and achieved good application results.

　　(6) The field of smart sanitation

　　During the reporting period, the company further strengthened the forward research and development of sanitation equipment products and the ability to tackle key technologies, and continued to focus on the development direction of new energy, intelligence and miniaturization of sanitation equipment, and overcome core technologies such as three-electric system matching, energy management and collaborative control technology, and design simulation analysis of special devices for new energy vehicles. In the field of intelligent application of sanitation equipment, based on the research of small-scale sanitation equipment, we will further expand the technical research and development of wire-controlled transformation and intelligent control of small-scale equipment. During the reporting period, the company completed the research and development of new products such as new energy cleaning vehicle, new energy road maintenance vehicle, multifunctional dust suppression vehicle and intelligent road sweeper.

　　(7) Comprehensive environmental consultation

　　The company can provide customers with one-stop comprehensive consulting services in the whole process of environmental protection project consultation, environmental assessment, testing and design. At present, it has provided corresponding consulting services for many large and medium-sized petrochemical and paper-making enterprises such as (), China Petrochemical, Nine Dragons, Liwen and Taiyang, and provided overall environmental consulting services for local governments and industrial parks. With rich consulting experience and thousands of successful cases, it has become one of the industry enterprises with the most complete qualifications and the strongest comprehensive consulting services in the domestic environmental protection field.

　　The company’s environmental assessment and environmental consulting services cover planning environmental assessment, construction project environmental assessment, engineering consultation, water consultation, environmental stewardship, industrial energy conservation and green development, environmental emergency plan, ecological civilization construction research, environmental stewardship research, rural domestic sewage planning and operation and maintenance, soil and groundwater pollution investigation, effect evaluation and environmental supervision, mine whole process consultation, agricultural land safety utilization and three-in-one comprehensive pre-consultation and post-operation and maintenance services. The company has a third-party testing platform company with multiple qualifications such as CNAS, CMA and CATL, which can provide various comprehensive technical services such as environmental monitoring, food and agricultural products testing, online monitoring and operation services for environmental protection products, soil pollution investigation and environmental protection acceptance of construction projects.

　　3. Main business models during the reporting period

　　EP is the acronym of Engineering Procurement, which means "design-procurement". The core of this model is system design and equipment integration. In this business model, the company, as a provider, first carries out scheme formulation, system design, equipment design and selection, then purchases general equipment and materials, produces or customizes core equipment and key components, and outsourcing special hardware equipment, etc. Finally, it forms a system that can complete specific functions through system assembly and integration, and sells the whole set of integrated equipment to the customer as a whole.

　　EPC is an acronym for Engineering Procedure Construction, which means "design-procurement-construction". It means that the company is entrusted by customers to contract the whole process or several stages of project consultation, design, procurement, construction, installation, acceptance and trial operation in accordance with the contract, and is responsible to the owner for the quality, construction period and cost of the project in accordance with the contract, and at the same time, some of the contracted projects can be legally contracted.

　　EPC mode is an extension of engineering design business and equipment system integration mode, and its service scope covers the whole process of project construction, that is, from the preliminary work of project investment until it is completed, put into production or delivered for use, which is also the so-called "turnkey" mode of project general contracting.

　　PPP is an acronym for Public Private Partnership, which is a cooperation model between the government and social capital. It refers to the benefit sharing, risk sharing and long-term cooperative relationship established by the government with social capital through franchising, purchasing services and equity cooperation in order to enhance the supply capacity and improve the supply efficiency of public goods and services.

　　BOT is the acronym for Build Operation Transfer, which means "build-operate-transfer". It means that the customer signs a contract with the company, and the company undertakes the financing, construction, operation and maintenance of the project. During the contract period, the company will recover the investment and make a reasonable profit by collecting the use fee or service fee. After the contract expires, the project assets and related rights will be handed over to the customer.

　　Among the above business models, EPC model is an extension of EP model, which adds the civil installation process on the basis of the latter, while BOT model adds the investment in the project and the operation management process during the project operation period on the basis of EPC model.

　　O&M is the acronym of Operation & Maintenance, which means that the government department with the ownership of water facilities hands over the operation and maintenance of the facilities to the company by signing the entrusted operation contract; The company is responsible for the daily operation of the facilities, but does not bear the capital investment and risks. The government departments pay the company the service cost and entrusted management remuneration.

　　In addition, the company also adopts TOT (handover-operation-handover) and BOO (build-own-operate) modes to undertake business according to the specific conditions of the project and customer needs.

　　4. Main performance drivers during the reporting period

　　During the reporting period, the company realized an operating income of 2,223,804,900 yuan, and its main business income mainly came from comprehensive environmental management, professional technical services and operational services.

　　In the comprehensive environmental management business, the income from water treatment business was 1,144,016,000 yuan. It is mainly confirmed by EPC general contracting of sewage treatment plant and supporting pipe network project in Longzhou Industrial Zone, EPC general contracting of water supply project (water plant reconstruction and expansion) in the southeast part of Sihong County, EPC general contracting of domestic sewage treatment project in Tongdao Dong Autonomous County-sewage treatment plant and supporting pipe network construction project (EPC mode) in six towns, EPC general contracting of water supply security improvement project in Tiandong County (sub-project of Pingmagou ecological environment improvement project) and EPC general contracting of ecological restoration project in Beishahe River Basin (lighthouse section). The income from soil remediation business was 101,092,900 yuan, which was mainly due to the income impact of projects such as soil pollution control design and construction project of Nanning Jiangnan Center Project, soil remediation project of plot GS1302-04/14/15/26 of Hangzhou Iron and Steel Company and surrounding planned road areas.

　　Professional technical service income mainly comes from environmental protection scheme design, consultation, environmental assessment, testing, environmental protection housekeeper and other businesses. During the reporting period, the company’s professional technical service income was 212,948,200 yuan, mainly from the business income of its holding subsidiary Bohuan Environment’s EIA consultation and Hunan Boshiko’s environmental protection scheme design.

　　The company’s operating income mainly comes from sewage treatment plants, waterworks, water body restoration, sanitation integration, sludge and soil disposal terminal operations. In 2022, the company realized operating income of 672,917,500 yuan, up by 11.18% year-on-year, which was mainly due to the impact of confirmed operating income, such as the PPP project of urban inland river black and odorous water treatment project in Nanning, the PPP project of regional water supply project in the southeast of Sihong County, the market-oriented service project of environmental sanitation operation in Hezhou City, and the franchise project of domestic waste comprehensive treatment operation in Xiwuzhumuqin Banner. As the sanitation, sludge disposal and PPP projects undertaken by the company gradually enter the operation stage, the scale of the company’s operating assets will continue to expand and its operating income will increase year by year.

　　

　　Third, the core competitiveness analysis

　　Continuous technological innovation and service innovation are the core competitiveness of the company in the new competitive pattern of environmental protection industry with "strong competition and strict supervision". In recent years, by increasing investment in R&D, upgrading the technical level of equipment, and vigorously cultivating and introducing talents, the company’s technical strength has been continuously enhanced. With the adjustment and optimization of the company’s business model and business structure, it will continue to drive the company’s high-quality development.

　　(1) Technological innovation and product innovation.

　　By the end of the reporting period, the company and its subsidiaries had obtained 440 authorized patents, including 54 invention patents; More than 20 projects hosted or participated by the company and its subsidiaries at or above the provincial and ministerial levels; During the reporting period, the company newly issued 8 group standards, including "Technical Specification for Production of Wood Fiber-based Heavy Metal Treatment Materials", and led and participated in the issuance of 14 national and industry standards. During the reporting period, the company won the "Enterprise Science and Technology Innovation Award" in Guangxi in 2021, and the "Wood Fiber Modification and Its Application in Heavy Metal Pollution Remediation" jointly completed with Guangxi University and other units won the first prize of Guangxi Science and Technology Progress Award in 2021. The projects led by the company, such as "In-situ resistance and control technology and engineering demonstration of contaminated soil in typical antimony mining areas" and "Study on synthesis and application of ozone-based catalyst for fine chemical wastewater", were approved by Guangxi key R&D plan project and Changsha key R&D project respectively; The project of Guangxi Innovation-driven Special Project "Research and Development of Key Technologies for Pollution Control of Black and Odor Water Body and Improvement of Water Environment Quality" and "Development and Application Demonstration of Key Technologies for Industrial and Municipal Sludge Treatment, Disposal and Recycling" led by the company passed the acceptance test successfully. The company mastered the core technologies in the subdivision field, and some technology research and development realized the transformation of results and was constantly improved in practice. At present, the environmental protection equipment and related core technologies independently developed by the company have been widely used in industrial wastewater treatment, clean production, township domestic sewage treatment, river basin treatment, urban black and odorous water remediation, site and groundwater remediation, farmland remediation and sludge treatment, garbage disposal, disinfection and disinfection, etc.Stabilizing the market with technology, the projects are spread all over North China, Central China, South China, Northwest China and other places, and some equipment is exported overseas; The company implements refined, standardized and scientific management for each project undertaken by the company, puts safety first, strives to create excellent projects, establishes a good market reputation, and ensures the smooth implementation of projects in hand and realizes performance transformation; The company has all kinds of business qualifications, and has built a service system covering the whole industrial chain of environmental protection, such as environmental assessment, testing, consulting and design, research and development, equipment manufacturing, engineering construction and investment operation. By making full use of the mutual pull and promotion of all links in the industrial chain, a new pattern of coordinated development of related businesses has been formed.

　　(2) Major landmark scientific and technological innovations

　　1. The company broke the technological monopoly of foreign enterprises such as Canadian Erco, Chemetics and Swedish Eka, developed the engineering technology of chlorine dioxide preparation system with independent intellectual property rights, formed a series of products, solved the key technical and equipment problems in pulp clean bleaching, and turned China from an importer of pulp bleaching chlorine dioxide technology into a technology exporter in one fell swoop, achieving zero breakthrough in the export of chlorine dioxide preparation and pulp bleaching technology products in China, and becoming the major large-scale chlorine dioxide preparation equipment and equipment in the world. The related achievements won the first prize of technological invention of the Ministry of Education in 2018, the first prize of technological invention of China Light Industry Federation in 2018 and the second prize of national technological invention in 2019 respectively.

　　2. The company has constructed an up-flow multi-stage anaerobic-aerobic-heterogeneous catalytic oxidation wastewater treatment technical route, which has solved the common problems that papermaking wastewater such as waste paper pulping is easy to cause granular sludge calcification in anaerobic treatment, and the traditional biological treatment of papermaking wastewater is difficult to meet the standard, completely broke the monopoly of overseas enterprises in this field, and successfully applied to nearly 100 enterprises at home and abroad, successfully achieving the standard discharge of wastewater, avoiding the danger of being shut down, and adapting to stricter environmental protection standards. In addition, this technology is also applied to the industries of fermentation, food, pharmacy, etc., which ensures the healthy and stable development of enterprises. This technological achievement won the second prize of National Science and Technology Progress Award in 2016.

　　3. The company has developed a series of advanced and applicable products and technologies around urban and rural environmental governance. Aiming at the upgrading of urban sewage treatment plants, a light filter with low concentration denitrification and high efficiency denitrification was developed, which solved the technical problems of traditional deep bed denitrification filter, such as easy hardening, small biological load, low removal rate and high operating cost. Develop MCO and MCI reactor series products according to the rural sewage treatment standards promulgated and implemented one after another, and solve the common treatment problems of large water quality fluctuation, low organic matter concentration and uncoordinated carbon-nitrogen ratio in direct discharge sewage and rural domestic sewage; The developed high-efficiency magnetic separation system and integrated SBR reactor are applied to black and odorous water treatment projects, and are gradually introduced to the market. The developed technologies related to sponge city construction and water ecological restoration technologies in inner lakes and inshore areas are applied to water ecological restoration. The above-mentioned series of environmental protection equipment and technologies are widely used in major environmental protection construction projects such as the treatment of black and odorous water bodies, the treatment of domestic sewage in rural and urban areas, and the comprehensive improvement of urban and rural environment in Guangxi, Guangdong, Hunan, Hubei, Guizhou, Yunnan and other places, resulting in significant economic, ecological and social benefits.

　　4. The company developed a direct-heating chain plate thermal desorption system, which solved the double problems of low efficiency of thermal disposal of oil sludge and low compliance rate. The core process of the equipment is the staged thermal desorption technology of "direct heating with multi-point heat sources+static transmission of chain plates", which has the advantages of high yield, low residual oil, wide application, no coking, high thermal efficiency and less smoke and dust. This technical equipment has been manufactured domestically and independently, and has been certified by many patents for inventions and utility models. At the same time, it has been approved by the national key R&D plan project "Construction of technical system for remediation of high-concentration oil-contaminated soil and technical demonstration and verification". In 2019, it was successfully selected into the "First (set) Guidance Catalogue for Promotion and Application of Major Technical Equipment" of the Ministry of Industry and Information Technology.

　　(C) innovative research platform carrier construction

　　The company is a national high-tech enterprise, a national technological innovation demonstration enterprise and a national intellectual property demonstration enterprise. It has been recognized as the national enterprise technology center, the "Southern Shishan Mine Geological Environment Restoration Engineering Technology Innovation Center" of the Ministry of Natural Resources, the Guangxi Industrial Water Pollution Control Engineering Technology Research Center, the Guangxi Contaminated Site Remediation Engineering Technology Research Center, and the Guangxi Soil Remediation Technology and Equipment Engineering Research Center. During the reporting period, the company was recognized by four scientific research platforms, including Guangxi Key Laboratory of Environmental Pollution Control and Ecological Restoration Technology, Guangxi Science and Technology Innovation Cooperation Base, Guangxi Beibu Gulf Coastal Pollution Control and Restoration Engineering Research Center and Nanning Collaborative Innovation Center. The company has built more than 7,000 square meters of national CNAS and CMA R&D and analysis and testing laboratories, and has more than 300 sets of precision instruments and equipment such as gas chromatograph, high performance liquid chromatograph, Fourier infrared spectrometer and inductively coupled plasma emission spectrometer. More than 3,000 square meters of environmental protection pilot platform will be built, and nine pilot test platforms will be built, including high-concentration organic wastewater treatment test, soil and groundwater engineering test, clean production and chemical preparation test, solid hazardous waste treatment and disposal, and comprehensive utilization test of waste lithium batteries, which can simulate the whole process of pollutants such as water, gas and solid under different working conditions, realize the whole process docking of R&D-design-manufacturing-engineering-operation, and further accelerate the output rate and operation of environmental protection scientific and technological achievements.

　　(D) Industrial chain innovation, incubation and construction.

　　The company has built a development model of science and technology industry of "scientific and technological innovation-integrated demonstration-transformation and promotion-innovation incubation-industry driving", and has hatched or cultivated subsidiaries in environmental protection industries and business sectors such as environmental assessment consultation, analysis and testing, R&D and venture capital, industrial pollution control, disinfection products, intelligent sanitation integration, environmental protection equipment manufacturing and new material manufacturing, environmental protection facility operation and hazardous waste disposal. By the end of the reporting period, a total of 9 subsidiaries had been recognized by national high-tech enterprises, and 2 subsidiaries. During the reporting period, the company was selected into the list of Guangxi smart factory demonstration enterprises in 2022, and Hunan Boshike, a wholly-owned subsidiary, was recognized by provincial scientific research platforms such as "Hunan Province Certified Enterprise Technology Center" and "Hunan Province Refractory Industrial Wastewater Enhanced Oxidation Treatment Engineering Technology Research Center", and was awarded the upgraded version (AA level) of the integrated management system of the Ministry of Industry and Information Technology.

　　(V) Introduction of innovative talents and formation of core teams.

　　The company has built a core technical team with Academician Wang Shuangfei as the chief scientist, and built a talent team around the development and application of basic research platforms and scientific and technological achievements transformation platforms in the environmental protection industry. By the end of the reporting period, the company had 1,245 R&D personnel, accounting for 27.36% of the company’s total employees. Among the employees in the company, there are 136 senior titles, 465 intermediate titles, 30 doctors and 176 masters, 1 academician of China Academy of Engineering, 2 candidates for the National "Hundred Million Talents Project", 1 leading scientific and technological innovation talent in the National "Ten Thousand Talents Program", 1 leading young and middle-aged scientific and technological innovation talent in China, 2 experts enjoying special allowances from the State Council and 1 leading professional and technical talent in national ecological and environmental protection. There are 1 top-notch young professional and technical talent in national environmental protection, 1 advanced individual in intellectual property work of national enterprises, 2 scholars in Guangxi Bagui, 1 outstanding expert in Guangxi, 2 high-level talents in Guangxi and 100 high-level talents in Nanning. High-quality talent team has become the core productivity of the company, ensuring the competitive advantage of enterprises in technology research and development and business development.

　　During the reporting period, there was no serious impact on the company’s core competitiveness due to the resignation of the core management team or key technicians, upgrading of equipment or technology, and loss of franchise rights.

　　1, the participation of major scientific research projects

　　2. Patents and patent use rights

　　By the end of the reporting period, the company and its subsidiaries had obtained 440 authorized patents, including 54 invention patents, 367 utility model patents and 19 design patents.

　　3. Update and acquisition of major qualifications

　　4. Software copyright

　　5, the national enterprise technology center.

　　In 2019, according to the Notice on Issuing the List of Newly Recognized and All National Enterprise Technology Centers in 2018 (25th Batch) jointly issued by the National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Finance, the General Administration of Customs and State Taxation Administration of The People’s Republic of China (No.36 [2019] of the Development and Reform Commission), the company’s enterprise technology center was recognized as "National Enterprise Technology Center". The company’s enterprise technology center is mainly responsible for the overall grasp and implementation of the company’s technology research and development, technology development strategy, industrialization of achievements and intellectual property management. The identification of the national enterprise technology center will promote the company to attract high-end technical talents in the industry, build a high-end scientific research platform, obtain corresponding policy support, and continuously improve the company’s independent innovation ability.

　　6, the national integration of production and education enterprise identification

　　In 2021, the General Office of the National Development and Reform Commission and the General Office of the Ministry of Education issued the Notice on the List of Industry-Education Integration Enterprises and Pilot Cities for Industry-Education Integration (No.573 [2021] of the Development and Reform Office), and announced the first batch of 63 state-owned enterprises with industry-education integration. Dr. Bosch was selected as a national enterprise with industry-education integration, and it was the only one in Guangxi. This time, it is recognized that the company will continue to strengthen the leading and demonstration role of enterprises with integration of production and education, deepen the cooperation with universities and scientific research institutions at home and abroad in Industry-University-Research, focus on technical research of environmental protection industry, build a training base with integration of production and education around the cultivation of industrial innovative talents, strengthen scientific research investment and build a platform for the transfer of scientific and technological achievements, so as to promote the high-quality development of integration of production and education in enterprises with innovation.

　　7. Identification of National Intellectual Property Demonstration (Advantage) Enterprises

　　In 2022, China National Intellectual Property Administration announced the list of "a new batch of national intellectual property demonstration enterprises and advantageous enterprises that passed the review in 2022". The company was recognized as a national intellectual property demonstration enterprise in 2022, and its wholly-owned subsidiary, Hunan Boshiko, was recognized as a national intellectual property advantageous enterprise in 2022. The recognition of the National Intellectual Property Demonstration (Advantage) Enterprise marks a new step in the company’s intellectual property management, and is a high recognition of the company’s continuous implementation of the intellectual property management strategy. The company will continue to strengthen the support, promotion and leading role of intellectual property rights and technological innovation in enterprise development, maintain continuous innovation, and build an internationally influential environmental protection enterprise brand relying on technological innovation.

　　8, the provincial scientific research platform identification

　　In 2022, the company was recognized by the Science and Technology Department of Guangxi Zhuang Autonomous Region as "Key Laboratory of Environmental Pollution Control and Ecological Restoration Technology in Guangxi" (Guikeji Zi [2022] No.60) and "Guangxi Scientific and Technological Innovation Cooperation Base for Environmental Pollution Control and Ecological Restoration" (Guikewaizi [2021] No.135). Hunan Boshike, a wholly-owned subsidiary of the company, was recognized by Hunan Provincial Department of Industry and Information Technology as "Hunan Provincial Certified Enterprise Technology Center" (Xianggongxin Technology [2022] No.16) and by Hunan Provincial Department of Science and Technology as "Hunan Provincial Engineering Technology Research Center for Enhanced Oxidation Treatment of Refractory Industrial Wastewater" (Xiangkeji [2022] No.20). Guangxi Environmental Protection Industry Development Research Institute Co., Ltd., a wholly-owned subsidiary of the company, was recognized by the Development and Reform Commission of Guangxi Zhuang Autonomous Region as "Guangxi Beibu Gulf Coastal Pollution Control and Restoration Engineering Research Center" (Gui Fa Gai Gao Ji Han [2022] No.2312). The identification of the above-mentioned provincial-level scientific research platform will promote the company to gather environmental protection and build dual-innovation elements in upstream and downstream industrial chains, build public service platforms for environmental protection industries such as innovation, technology, talents and finance, form a dual-innovation ecosystem with outstanding innovation capability, high achievement conversion rate, strong market competitiveness and high-level talents gathering, and provide inexhaustible power for the high-quality development and ecological civilization construction of Dr.Bosch..

　　9. Identification of CMA qualification

　　Bose Testing, a wholly-owned subsidiary of the company, holds the certificate of qualification of inspection and testing institutions (CMA), and its laboratory has environmental monitoring area, food testing area, large-scale instrument area and microbial laboratory. Up to now, Bo-test has passed the qualification evaluation of inspection and testing institutions, and has been approved for more than 3,100 testing capabilities, including more than 1,600 environmental monitoring capabilities, with complete qualifications in the field of environmental monitoring; The food detection ability reaches more than 1,500 items, covering food physics and chemistry, food heavy metals, food pesticide residues, food additives, food additive products, food microorganisms, food vitamins and 31 kinds of food products. In December, 2022, the Ministry of Agriculture and Rural Affairs officially published the list of the third batch of testing laboratories in the third national soil survey, and the sampling test was successfully selected, becoming one of the four laboratories in Guangxi that can undertake both sample preparation and testing tasks.

　　10. CNAS accreditation

　　In December 2018, the company’s testing center obtained the laboratory accreditation certificate (registration number: CNAS L6627) issued by China National Accreditation Committee for Conformity Assessment. The company’s testing center meets the requirements of ISO/IEC 17025: 2017 General Requirements for Testing and Calibration Laboratories (CNAS-CL01 Accreditation Criteria for Testing and Calibration Laboratories) and has more than 20 testing capabilities for water and wastewater. The certificate is valid until December 26, 2024.

　　Bose Testing, a wholly-owned subsidiary of the company, obtained the laboratory accreditation certificate (registration number: CNAS L12306) issued by the National Accreditation Committee for Conformity Assessment in China in May 2019, which meets the requirements of CNAS CL01:2018 Standards for Accreditation of Testing and Calibration Laboratories and CNAS-CL01-A002:2018 Instructions for Application of Standards for Accreditation of Testing and Calibration Laboratories in Chemical Testing, and has environmental and food requirements. The certificate is valid until May 29th, 2025.

　　

　　Fourth, the main business analysis

　　1. Overview

　　In 2022, the company’s audited operating income was 2,223,804,900 yuan, a decrease of 16.29% over the same period of last year; The net profit attributable to shareholders of listed companies was-448,723,700 yuan, a decrease of 66,044,600 yuan compared with the same period of last year. The operating income was 672,917,500 yuan, an increase of 11.18%, and the operating cash flow was 153,440,300 yuan, an increase of 559,131,700 yuan. The main reasons for the company’s losses are as follows: firstly, during the reporting period, the company continued to optimize its business structure. YEATION strictly controlled the municipal engineering business, vigorously developed the industrial sector business, continuously increased the proportion of equipment sales revenue, and promoted the audit and settlement of completed projects. The order volume of the municipal engineering sector decreased, and the engineering output value of some completed projects was reduced, resulting in a year-on-year decline in engineering business income. Although the orders for the industrial sector increased rapidly, most of the industrial orders signed in 2022 were still under implementation due to the volume of the project and the implementation cycle, and the acceptance and handover work could not be completed within the reporting period and turned into output value. Under the comprehensive influence, the income scale of the company’s main business declined. Secondly, according to the requirements of accounting standards and internal control system, the company conducted impairment tests on all kinds of assets, and made individual provision for impairment losses on the accounts receivable of old municipal project customers with obvious signs of impairment and the inventory of engineering projects that were stopped due to abnormal reasons and the construction period was delayed, and made provision for impairment losses of all kinds of assets of RMB104,124,200 for the whole year. To sum up,The main reasons for the company’s operating performance loss in 2022 are the decline in income scale and the provision of some asset impairment losses.

　　At present, the company is in an important transition period. On the one hand, it continues to concentrate superior resources to develop industrial sector business; on the other hand, it speeds up the quality improvement and efficiency improvement of consulting and operational projects, and the business structure and income ratio structure of main business are continuously optimized. By increasing the business collaboration between the front and back ends of the industrial chain and business units of different business segments, the company has solidly promoted cost reduction and efficiency improvement and deepened reforms, focused on the settlement and payment of old projects, accelerated the revitalization of assets in hand, and strengthened risk and cost control, so as to promote the recovery of key business indicators and ensure the stable development of the company’s operations.

　　(1) Focus on high-quality orders in the industrial sector and achieve breakthroughs in overseas markets.

　　In 2022, the company actively adjusted its business focus, concentrated its superior resources, vigorously developed its industrial sector business, and further optimized its main business structure. During the reporting period, the company added 3.148 billion yuan in sales contracts, including 1.554 billion yuan in industrial water treatment contracts, accounting for 49.37%; The contract amount of municipal environmental management is 696 million yuan, accounting for 22.11%; The operating contract amount is 513 million yuan, accounting for 16.29%; The contract value of professional technical services such as consulting and testing was 219 million yuan, accounting for 6.96%. The overall quality of new orders and orders in hand was significantly improved, which laid a good foundation for subsequent revenue conversion and project payment. During the reporting period, the company and its subsidiaries participated in the bidding of about 332 projects, and about 214 projects won the bid, with a winning rate close to 64.46%, which fully reflected the company’s market competitiveness and sustainable operation ability.

　　As the core business of the company, the industrial sector takes selling equipment and providing technical services as its main business model, and its service areas cover industries such as papermaking, food, pharmaceuticals, semiconductors, chemicals and textiles. During the reporting period, the company relied on its leading edge in the field of industrial pollution control, such as waste water resource utilization and ultra-low emission key technologies, and the core technology of chlorine dioxide preparation system, and intensified the development of industrial environmental governance and pulp clean bleaching market at home and abroad. Four monomer orders of more than 100 million yuan and 26 monomer orders of more than 10 million yuan were successively signed, such as "Shouguang Meilun Chemical Pulp Factory General Contract for Chlorine Dioxide Preparation", "A Complete Equipment Supply and Technical Service Contract for Trichloroisocyanuric Acid", "A Supply Contract for 100t/d Comprehensive Chlorine Dioxide Preparation Project" and "A Complete Purchase Contract for 200,000 m3 /d Sewage Treatment Equipment". The industrial water treatment order was 1.554 billion yuan in the whole year, compared with the same period of last year.

　　Up to now, the company’s supply orders for handicraft equipment are about 2.286 billion yuan (including winning the bid), including overseas orders of 1.412 billion yuan. The main customers of such orders are leading papermaking enterprises at home and abroad. In the field of industrial water treatment and clean production of pulp drifting, the company basically achieved full coverage in Southeast Asia and maintained a high market share. At the same time, it focused on the North American and South American markets, and the layout in Russia, Turkey and other markets also achieved results one after another, further enhancing its overseas market share. In the future, the company will continue to focus on the main business of industrial environmental governance, continuously enhance the market share and industry influence at home and abroad, form an industrial cluster of industrial wastewater treatment, large-scale chlorine dioxide preparation and other chemicals production, and achieve near-zero industrial emissions, consolidate the leading position of domestic industrial pollution control industry, expand the market share of overseas industries, and further increase the business volume of industrial sectors and the proportion of business income in the company.

　　(II) Comprehensively promote project settlement and payment collection, and continuously optimize the business structure.

　　Actively promoting project settlement and payment collection is one of the most important annual business tasks of the company. In 2022, the company realized a sales rebate of 2.119 billion yuan, an increase of 11.23% year-on-year, and the rebate work achieved substantial results. During the reporting period, the company actively recommended the examination and approval of project settlement, and completed the completion and acceptance of 61 projects throughout the year, involving an effective contract amount of 2.298 billion yuan; 77 projects were submitted for review, with a total amount of 2.282 billion yuan; 90 projects (including process audit reports) have been approved, with an amount of 1.477 billion yuan, and the follow-up company will strive to make greater breakthroughs in the final settlement of old projects. Secondly, we will continue to strengthen the collection of old projects, give full play to the functions of special classes for collection of old projects, introduce incentive measures for collection of old projects, and incorporate the collection of old projects into the assessment indicators of business units. In 2022, nearly 900 million yuan was collected from old projects, which was significantly improved compared with previous years. Thirdly, with the double optimization of order structure and quality, the efficiency of industrial project equipment payment and project progress payment has been improved. With the PPP project of water operation gradually entering the stage of commercial operation, the project company has achieved relatively stable income, and the annual operating return reached 277 million yuan, showing an increasing trend year by year, which strengthened the company’s hematopoietic capacity. In addition, for projects with long aging, large amount and high payment difficulty,By actively planning and actively communicating with the owners to replace the payment with high-quality projects or assets, establishing a legal litigation mechanism for sending and receiving letters, directly linking the payment with the performance appraisal of senior executives and business divisions, and matching different incentive policies for accounts receivable with different aging, the company has taken many measures to comprehensively promote the payment work.

　　During the reporting period, the company further optimized the structure of orders in hand and the quality of newly signed orders. The orders in hand and newly signed orders are mainly EP, EPC and professional technical service orders, and most of them are projects with strong livelihood attributes such as industrial water treatment, municipal pipe network sewage treatment plant construction and water operation, which have strong payment ability, short cycle and guaranteed cash return. Secondly, actively adjust the income structure of main business, change the project implementation mode, further reduce the proportion of project income, and increase the proportion of equipment sales income and operating income. Third, continue to sort out and optimize the existing PPP projects and franchise projects, further improve the overall quality of the company’s PPP business, and gradually withdraw some projects that are ambiguous, or cannot be implemented or put into operation for a long time due to government reasons, further optimize the company’s business and debt structure, and reduce the financial pressure. Up to now, the company has withdrawn from seven PPP and franchise projects by means of equity transfer, asset transfer or changing the implementation mode, and signed the Agreement on Early Termination of Human Settlements Improvement Project in Chengjiang County, Yunnan Province with the government and the consortium leader. On the premise of ensuring the settlement and payment of the project funds, the company withdrew from Chengjiang Human Settlements PPP Project as a project shareholder and recovered the investment of 83,361,800 yuan. Fourth, the project operation was solidly promoted. During the reporting period, the company realized operating income of 672,917,500 yuan, up by 11.18% year-on-year. Up to now, the company has officially entered 23 franchise projects for commercial operation;Eight franchise projects entering the trial operation stage; 18 solid waste (integrated sanitation) operation projects; There are 5 terminal operation projects for sludge treatment and soil disposal. With the sanitation, oily sludge treatment and PPP projects undertaken by the company gradually entering the operation stage, the scale of operating assets will continue to expand, and the continuous and stable operating income and cash flow will further enhance the company’s hematopoietic function.

　　(C) actively expand the sub-sectors and further deepen the industrial layout.

　　As new energy vehicles enter a new stage of rapid development, power batteries will usher in the peak period of scrapping, and the demand for power battery reuse and recycling business is gradually increasing. Relying on the national enterprise technology center, Guangxi pilot research base for the transformation of scientific and technological achievements in environmental protection technology and equipment, the company has played a leading role in the research and development of industrial wastewater and solid hazardous waste treatment technology and equipment, and has formed a core technology system for comprehensive utilization of waste lithium batteries with independent intellectual property rights through small-scale and industrial tests. After deliberation and approval by the company’s board of directors, it is agreed that Keqing Environment, a wholly-owned subsidiary of the company, will be the main body of project implementation, and invest in a new 20,000-ton/year comprehensive utilization project of waste lithium batteries, with a total investment of about 141 million yuan. If the project is successfully implemented, it will help the company to further expand the solid waste treatment business segment, deepen the industrial layout, enhance the company’s industrial position and comprehensive competitiveness in the field of environmental protection, and help the company to thoroughly implement the national strategic deployment requirements of "carbon neutrality" and "peak carbon dioxide emissions", which is in line with the company’s long-term development strategy.

　　During the reporting period, the company successively signed cooperation framework agreements with Dongfeng Liuzhou Automobile Co., Ltd., Guangxi Automobile Group Co., Ltd., Liuzhou Guoxuan Battery Co., Ltd., the holding company of () Co., Ltd., and PT.YONG QING INDUSTRY(INDONESIA) of Indonesia, aiming at integrating superior resources and jointly promoting in-depth cooperation in the field of waste power battery recycling, so as to obtain good social benefits and return on investment. The signing of the above cooperation framework agreement will help the company to promote the industrialization transformation of basic research results, further expand the subdivision business in the field of solid waste treatment, and generate synergistic benefits with the company’s existing solid waste treatment and disposal sector.

　　Considering the changes in the hazardous waste disposal market in the region and the customer’s demand, in order to effectively revitalize the project assets, it was approved by the second extraordinary shareholders’ meeting in 2022 that Keqing Environment, a wholly-owned subsidiary of the company, was allowed to carry out technical transformation on some facilities and equipment of the "Beibu Gulf Resource Recycling Project". On the basis of using the original equipment of the physicochemical treatment workshop, the original physicochemical treatment workshop was transformed into a resource utilization workshop with its own funds or self-raised funds, and 20,000 tons/year of equipment for resource utilization of electrolytic aluminum overhaul slag was added. Guangxi is a province rich in aluminum resources. As one of the few hazardous waste disposal enterprises with the qualification to dispose of overhaul slag in the region, Keqing Environment can quickly respond to the market demand, undertake the related business of overhaul slag disposal and resource utilization, and tap new profit growth points for the company.

　　(4) Pay attention to both management efficiency and quality, and comprehensively promote cost reduction and efficiency improvement.

　　Under the economic downturn and the pressure of performance, the company achieved cost reduction and efficiency improvement by reducing management costs, strengthening project dynamic cost control, optimizing organizational structure and personnel, and revitalizing hand assets. In terms of moving forward the risk port, we focused on strengthening pre-bid risk management and control, strengthening contract review around key business indicators, establishing and improving the project kick-off meeting procedures and project leader mechanism, and the quality of landing projects has been significantly improved. In terms of expenses, the company strictly controls the company’s payment-to-receipt ratio by means of controllable management of expenses linked to sales revenue or new orders, so as to ensure that the cash flow remains stable. In terms of project cost control, we started to promote the comprehensive budget mechanism, further strengthened the budget management, cost control, procurement control and cash flow audit of the project, and carried out the whole process tracking control of the project implementation. On the premise of ensuring that the performance and quality of equipment are not affected, the company has achieved cost reduction and efficiency improvement by optimizing equipment selection and material selection, adjusting equipment structure and improving production technology. In terms of improving management efficiency, the company takes the market, product, value and service as the main line, strengthens the linkage relationship among industry, specialty, region and customer, reconstructs the functional structure, and integrates resources and business of the business unit. In terms of information platform construction, the I8P project management system was officially launched, and the data integration and penetration of project information management, contract management, supply chain management, fund management and budget management were initially realized, and the project life cycle management level was improved.Comprehensively strengthen the response speed and management accuracy of the company’s operations. Strictly implement the performance appraisal of all employees, and establish a hierarchical appraisal system for business objectives and key tasks; According to the change of business form, on the basis of last year’s talent inventory, we will promote the work of personnel quota, quota and post, and investigate and optimize the employees who are incompetent and have poor performance through the optimization measures such as merging branches and implementing regional joint office; Further broaden the channels for talent promotion, promote the competitive recruitment mechanism for management cadres, provide an open, fair and just platform for more outstanding talents, and release organizational vitality.

　　(V) Adhere to scientific and technological innovation and lead the company to develop with high quality.

　　The company insists on technological innovation to drive development, and through continuous improvement of independent innovation and R&D capabilities, the company’s existing technical strength and service level are enhanced, and the competitiveness of technology and services is enhanced, so as to consolidate its leading position in the field of environmental protection segmentation. During the reporting period, the company added 66 patents, including 8 invention patents; By the end of the reporting period, the company and its subsidiaries had obtained 440 authorized patents, including 54 invention patents, 367 utility model patents and 19 design patents.

　　Based on solving the key common technologies of industrial development, the company has built a benign operation mechanism from technological achievements and products to industrial application. At present, it has formed a technological innovation system of basic theoretical research on environmental protection, research and development and application of key technologies of environmental protection, and integration of production and education. In terms of scientific research platform construction, in 2022, the company was selected as the national intellectual property demonstration enterprise certification, the list of Guangxi smart factory demonstration enterprises, "Guangxi Key Laboratory of Environmental Pollution Control and Ecological Restoration Technology" and "Guangxi Scientific and Technological Innovation Cooperation Base for Environmental Pollution Control and Ecological Restoration"; Hunan Boshiko, a wholly-owned subsidiary, was selected as the national intellectual property advantage enterprise certification, Hunan Provincial Certified Enterprise Technology Center, Hunan Provincial Certified Enterprise Technology Center, Hunan Provincial Certified Enterprise Technology Center, Hunan Provincial Refractory Industrial Wastewater Enhanced Oxidation Treatment Engineering Technology Research Center and other provincial-level scientific research platforms, and won the conformity assessment of the upgraded version (AA level) of the two-in-one integrated management system of the Ministry of Industry and Information Technology. In addition, the company has been on the list of top 100 enterprises in Guangxi, top 50 manufacturing enterprises in Guangxi, top 100 high-tech enterprises in Guangxi and top 10 innovative vitality in Guangxi for many years in a row, and has been recognized by platforms such as Guangxi new R&D institutions, Guangxi pilot research base for the transformation of scientific and technological achievements in environmental protection technology and equipment, Guangxi innovation consortium and Guangxi Shuangchuang demonstration base. In 2023, the company will adhere to the market-oriented scientific and technological innovation, focus on key issues in project expansion and production, let technology take the lead, effectively promote the "key variables" of scientific and technological innovation, and make achievements."Maximum increment", integrating scientific and technological innovation resources and continuously building an advanced, scientific, standardized and high-quality low-carbon environmental protection service system.

　　(VI) Strengthening Party building and continuously deepening internal reform.

　　In 2022, under the guidance of Socialism with Chinese characteristics Thought of the Supreme Leader in the New Era, the Party Committee of the Company effectively unified its thoughts and actions into the spirit of the 20th Party Congress, deepened the achievements of party building with "strong fortress and hard pioneer", strengthened ideological construction, gave full play to the party’s political core role, the fighting fortress of the party organization and the vanguard and exemplary role of party member, always adhered to the long-term co-construction mechanism of "Party building with workers and groups, and promoting party building with workers and groups", closely focused on the company’s business plan, and promoted.

　　The company’s Party Committee adheres to the idea of leading the Party building thought and serving the development and progress of enterprises, and makes great efforts to build a "three-first-class" Party building work idea. It is the first batch of demonstration sites for Party building work in two new organizations in autonomous regions, Nanning City and High-tech Zone, and the case of Party building work has been selected in Publicity Department of the Communist Party of China’s Selected Cases of Ideological and Political Work Innovation in Private Enterprises in the New Era. During the reporting period, focusing on "strengthening ideological guidance, giving full play to organizational advantages, and consolidating the foundation between the party and the masses", the Company established the Ninth Party Branch of Boshiko and the Temporary Party Branch of the Rural Sewage Comprehensive Treatment Project along Santang and Sitanghe River in Nanning, and jointly created a "red construction site" with the front-line project departments to further play the leading role of party building. At the same time, we will complete the general election of the first, fourth and sixth branches whose terms of office expire, formulate the Detailed Rules for the Annual Assessment of the Responsibility System for Ideological and Political Work of Branch Secretaries, and all staff will sign a letter of commitment on honesty, so as to create a good atmosphere of clean and honest atmosphere and help enterprises develop healthily and sustainably. The Party Committee of the Company gives guidance to the branches and subsidiaries that have established grass-roots party organizations and carried out the work of party building, concretizes and institutionalizes the party’s leadership into corporate governance, promotes the standardization and institutionalization of party organizations, and further grasps the work of "party building into chapters". The company strictly implements the spirit of the "eight regulations", takes effective measures to effectively change the work style, and runs internal control management and anti-corruption throughout the whole process of enterprise production, operation and management. By persistently grasping the work style, it constantly strengthens the construction of leading cadres and creates a healthy, harmonious and entrepreneurial atmosphere.Promote the internal reform and development of enterprises to a new level.

V. Prospect of the Company’s Future Development

　　1. The development prospect of the company’s industry.

　　According to the report of the 19th National Congress of the Communist Party of China, the construction of ecological civilization is a Millennium plan for the sustainable development of the Chinese nation, and the harmonious coexistence between man and nature is regarded as an important part of the basic strategy of adhering to and developing Socialism with Chinese characteristics in the new era, and the construction of beautiful China is regarded as a major goal of building a socialist modern power in an all-round way, so that the construction of ecological civilization and the protection of ecological environment are promoted to an unprecedented strategic height. Under the guidance of the important strategic thinking of the Supreme Leader’s General Secretary on ecological civilization construction, China’s ecological environment protection has achieved remarkable results from the realization of historical, turning and overall changes in practice, and the construction of beautiful China has taken important steps. The Central Committee of the Communist Party of China’s Proposal on Formulating the 14th Five-year Plan for National Economic and Social Development and the Long-term Goals for the Year 2035, which was deliberated and adopted by the Fifth Plenary Session of the 19th CPC Central Committee, regards "achieving new progress in ecological civilization construction" as one of the main goals of economic and social development during the 14th Five-Year Plan period, and regards "widely forming a green production and lifestyle, stabilizing and declining carbon emissions after reaching the peak, fundamentally improving the ecological environment, and basically realizing the goal of building a beautiful China" as the goal of basically realizing socialist modernization by 2035. The Party’s Report to the 20th CPC National Congress further clarified that "the urban and rural living environment has been significantly improved, and the construction of beautiful China has achieved remarkable results" is listed as the main target task in the next five years; He also stressed that it is necessary to promote the construction of beautiful China, adhere to the integrated protection and systematic management of mountains, rivers, forests, fields, lakes, grass and sand, coordinate industrial structure adjustment, pollution control, ecological protection, and respond to climate change, and jointly promote carbon reduction, pollution reduction, greening and growth.Promote ecological priority, conservation and intensive, green and low-carbon development. In recent years, the state and government have paid more and more attention to the development of advanced environmental protection industries, and have successively issued a number of policies to promote the development of the industries. For example, Guiding Opinions on Accelerating the Construction of Urban Environmental Infrastructure, Development Plan for Urban Sewage Treatment and Resource Utilization in the Tenth Five-Year Plan, Action Plan for Fighting Against Pollution in Agriculture and Rural Areas (2021-2025), Action Plan for Fighting Against Pollution in Agriculture and Rural Areas (2021-2025), Action Plan for Environmental Protection of Urban Black and Odor Water Remediation in the Tenth Five-Year Plan, and Action Plan for Promoting Wastewater Resource Utilization The catalogue of major environmental protection technologies and equipment developed and the implementation opinions on creating a better development environment to support the healthy development of private energy-saving and environmental protection enterprises have provided a good development environment for the development of advanced environmental protection industries.

　　2. Future business objectives

　　(1) Support enterprises with scientific and technological innovation to continuously improve the core competitiveness of equipment manufacturing.

　　The Guiding Opinions on Accelerating the Development of Environmental Protection Equipment Manufacturing Industry points out that it is necessary to strengthen the collaborative innovation and development of technology research and development, promote the intelligent and green transformation and development of production, promote the development of product diversification and branding, guide the differentiated and integrated development of industries, and encourage enterprises to develop internationally and openly. Under the increasingly strict requirements of national environmental protection inspectors and environmental monitoring, there is an urgent demand for environmental protection equipment products and technologies. The company will further optimize its business composition, stick to its main business, focus on innovation, increase the proportion of core technology and equipment sales in its business contribution, and actively expand environmental comprehensive services with emphasis on equipment manufacturing.

　　(2) Continue to maintain the core competitive advantage in the field of traditional industrial pollution control.

　　With the development of local economy and the need of environmental treatment, the demand for centralized pollution control and treatment of enterprise groups in industrial parks has increased, and water treatment services have also been systematically treated from the point source of a single enterprise to the whole park. Comprehensive utilization and development of water resources With the expansion of the number and scale of industrial parks and the improvement of industrial wastewater treatment standards, the comprehensive water treatment business in industrial parks will have a huge market space. Relying on its own core technology and engineering project experience, while continuously consolidating the leading position of wastewater treatment in sugar and paper industries, the company continues to maintain its core competitive advantages in the fields of anaerobic treatment of high-concentration organic wastewater and advanced treatment of refractory wastewater, preparation technology and system integration of clean and bleached chlorine dioxide in pulp and paper making, focusing on equipment manufacturing and vigorously expanding the wastewater treatment market in other industries such as semiconductor, pharmaceutical, chemical, textile and food.

　　(3) Focus on sewage treatment projects in villages and towns.

　　Treating rural sewage well is of great significance for improving the water source environment in China, promoting the construction of beautiful countryside and enhancing the happiness of rural people. In January 2021, the National Development and Reform Commission and other ten departments jointly issued the Guiding Opinions on Promoting the Reuse of Sewage Resources (No.13 [2021] of the Development and Reform Commission), which made important arrangements for comprehensively promoting the reuse of sewage resources. According to the opinion, by 2025, the national sewage collection efficiency will be significantly improved, the sewage treatment capacity of county towns and cities will basically meet the needs of local economic and social development, and the sewage treatment in water-sensitive areas will basically be upgraded; The utilization rate of reclaimed water in water-deficient cities at or above the prefecture level in China has reached more than 25%, and that in Beijing, Tianjin and Hebei has reached more than 35%; The reuse of industrial water, livestock manure and the utilization of fishery tail water have been significantly improved; The policy system and market mechanism of sewage resource utilization have been basically established. By 2035, a systematic, safe, environmentally friendly and economical pattern of sewage resource utilization will be formed. The company has developed a series of advanced and applicable products and technologies such as low-concentration denitrification and high-efficiency denitrification light filter, MCO, MCI reactor series products, high-efficiency magnetic separation system, integrated SBR reactor, etc. around urban and rural environmental governance, and will continue to develop and optimize products and technologies that meet market demand. Intensify efforts to expand water investment, construction and operation, urban water supply and drainage integration, reclaimed water reuse, urban inland river and black and odorous water treatment, sponge city construction, river basin water ecological restoration and other projects.

　　(4) Optimize the light asset business and actively promote the innovation of business model.

　　The company maintains the competitive advantage of the whole environmental protection industry chain, concentrates resources to consolidate the industry position of environmental services such as environmental assessment, consulting, testing, design and sanitation in Guangxi, Guangdong and Hunan markets, maintains the steady growth of business, and at the same time benchmarks the business model of similar enterprises to improve the profitability of the project. The company has changed from pursuing volume to pursuing quality, gradually reducing the proportion of engineering projects, shifting its business focus to high-quality EPC projects and equipment sales projects with profit as the guide, and unswervingly taking the road of light assets, thus achieving the "four reductions" goal of reducing capital occupation, reducing the accumulation of accounts receivable, reducing financing costs and reducing the loss of bad debts.

　　(5) Further expand the market of solid waste treatment and disposal.

　　During the "Fourteenth Five-Year Plan" period, it is more urgent to comprehensively improve the efficiency of resource utilization around the theme of promoting high-quality development. Domestic waste treatment, industrial solid waste treatment, hazardous waste treatment, construction waste treatment and other businesses set sail again. Judging from the performance of several sub-fields, China’s solid waste treatment industry is showing a brand-new development trend. With the horizontal expansion of the industrial chain of traditional sanitation enterprises and the vertical expansion of solid waste terminal disposal enterprises such as incineration, the competition of solid waste disposal projects has become increasingly fierce. Relying on the long-term accumulation of customer resources and related technical reserves in the field of water treatment, the company has developed key technologies and equipment such as harmless treatment of solid waste, recycling of resources, and disposal of solid hazardous waste through in-depth market development, so as to further expand the market of "harmless, reduced and recycled" disposal of solid waste.

　　Emerging sub-sectors such as "waste-free cities", garbage sorting, smart sanitation, intelligent upgrading, and unmanned sanitation vehicles began to rise in the sanitation sector, and continued to attract the attention of the industry and capital at a high growth rate. The company is engaged in multi-field sanitation industry chain business, has built an intelligent integrated service system for urban and rural sanitation, and has successfully explored a comprehensive service model for operational cleaning and garbage collection, transportation, treatment and terminal disposal in urban and rural areas. In order to adapt to the rapid development of the sanitation market, the company focuses on the research and development of special vehicles and the improvement of equipment manufacturing production capacity, and creates a smart sanitation cloud platform and intelligent driving technology for the company; Strive to reach the advanced level of domestic sanitation industry in the development of special sanitation vehicles, intelligent control technology, new energy technology, smart cloud platform and intelligent manufacturing.

　　At present, the company has successfully developed a complete set of technologies for harmless and resource-based treatment of overhaul slag. After applying the comprehensive treatment technology of the company’s overhaul slag, the harmless slag is identified as general industrial solid waste, which can truly "take off the hat" of hazardous waste and further utilize building materials as resources; The high-value carbon powder, fluorite balls and other products obtained by recycling waste cathode carbon blocks can meet the requirements of corresponding product standards, and can be used as raw materials for upstream and downstream industries such as refining and fluorine chemical industry, so as to realize multi-scene industrial application of resource products. As one of the few hazardous waste disposal enterprises in Guangxi, Keqing Environment, a subsidiary of the company, can quickly respond to the market demand, undertake the related business of overhaul slag disposal and resource utilization, and tap new profit growth points. New energy vehicles have been widely promoted and applied since 2013, and entered the accelerated growth stage in 2014, and they have been rapidly released since 2015. The New Energy Automobile Industry Development Plan (2021-2035) proposes that the proportion of new energy automobile sales in China will reach about 20% of new automobile sales in 2025, and the high production and sales of new energy vehicles will drive the loading capacity of power batteries to rise, and power batteries will face a large scale of retirement in the future. Relying on the national enterprise technology center, Guangxi pilot research base for the transformation of scientific and technological achievements in environmental protection technology and equipment, the company has played a leading role in the research and development of industrial wastewater and solid hazardous waste treatment technology and equipment, and has formed a core technology system for the comprehensive utilization of waste lithium batteries with independent intellectual property rights.The company will explore the recycling market of new energy power batteries, further expand the subdivision business in the field of solid hazardous waste treatment, and have a synergistic effect with the company’s existing solid hazardous waste treatment and disposal plate, which is in line with the company’s long-term development strategy and is conducive to the company’s in-depth implementation of the national strategic deployment requirements of "carbon neutrality" and "peak carbon dioxide emissions".

　　(6) comprehensively enhance the service capability advantages of the whole industry chain.

　　The company will continue to focus on water treatment, soil remediation, clean production, solid waste disposal and other main businesses, implement the strategic concept of "whole industry chain service", adhere to the Industry-University-Research cooperation model, promote the commercialization of research results, and constantly improve the one-stop environmental management service platform integrating environmental assessment, monitoring, testing, environmental sanitation, engineering consulting, design, research and development, equipment manufacturing, engineering construction, facility operation and investment and financing operation, so as to broaden the income sources.

　　3, the future annual business plan

　　(1) Maintain the advantages of traditional business, tap the potential in depth, strive for progress steadily and explore new performance growth.

　　On the basis of maintaining the steady growth of traditional business, the company actively expands the industrial market (including the business of chemicals) and focuses on building the equipment manufacturing field. On the one hand, the internal industrial chain of the company develops in a coordinated and efficient way, improving the quality of products and services, reducing operating costs and achieving sustained growth in operating performance. On the other hand, we will gradually take petrochemical, food brewing and pharmaceutical as the main expansion direction, and actively lay out new performance growth points.

　　(2) Expand and strengthen overseas business and actively deploy the global market.

　　Focusing on the global strategic layout, the company continues to dig deep into the markets of Indonesia, India and the United States, and strive for more contracts. At the same time, it actively expands the markets of Russia, Southeast Asia and South America, further expands its overseas business and builds an influential international brand. While absorbing the technical experience of developed regions, it also further exports domestic advanced environmental protection treatment technologies and cooperates with international cutting-edge scientific research institutions to form an open, integrated and coordinated industrial innovation system. By building a North American R&D center, we will attract outstanding talents at home and abroad, focus on solving complex and systematic environmental problems, benchmark the international and domestic advanced level, select the right path, and concentrate on promoting major technological breakthroughs, thus providing a strong support for Bosch to lay out the global market.

　　(3) Accelerate the transformation and upgrading of business operations and strive to create new growth points for performance.

　　The company actively carries out the business of resource utilization of overhaul slag disposal and comprehensive utilization of power batteries. By adopting the core technical advantages of self-research, it opens up the closed loop of the high-priced metal industrial chain of "recycling of waste batteries-recycling of lithium and other high-priced metals-manufacturing products as battery raw materials", which can not only greatly improve the recovery rate and product purity of valuable metals in waste lithium batteries, but also realize near zero discharge of advanced treatment of wastewater. It can serve the resource utilization demand of waste lithium batteries outside the radiation zone in Guangxi, promote the sustainable development of Guangxi’s new energy automobile industry, form a closed-loop resource recycling of the power battery industry, and help the new energy to reduce carbon.

　　(4) Pay attention to forward-looking basic research and realize efficient achievement transformation.

　　Focusing on the key areas of environmental protection industry and future development, the company has built a high-level talent team and a high-level scientific research platform to lead forward-looking basic research and original innovation, achieve a major breakthrough in scientific research, and explore various ways to solve the bottleneck problem in applied basic research. The company pays attention to cultivating excellent R&D and management talents, popularizing advanced management experience and incentive mechanism, further stimulating innovation vitality, promoting the innovative development of "basic research, application development, achievement transformation and technology popularization", and constantly consolidating and enhancing the core competitiveness of enterprises.

　　The above development strategy and business plan do not constitute the Company’s substantial commitment to any investors and related parties. Investors and related parties should keep sufficient risk awareness and understand the differences between plans, forecasts and commitments.

　　4. Possible risks and countermeasures

　　(1) Risk of continued decline in business performance

　　In 2022, the company realized an operating income of 2,223,804,900 yuan, a year-on-year decrease of 16.29%; The net profit attributable to ordinary shareholders of listed companies was-448,723,700 yuan, a year-on-year decrease of 66,044,600 yuan, and the operating fundamentals were better than last year.

　　In 2022, influenced by changes in the domestic economic environment and intensified competition in the industry, the company insisted on optimizing its business structure. YEATION strictly controlled the municipal engineering business, vigorously developed the industrial sector business, continuously increased the proportion of equipment sales revenue, and promoted the audit and settlement of completed projects. The order volume of the municipal engineering sector decreased, and the engineering output value of some completed projects was reduced, resulting in a year-on-year decline in engineering business income. Although the orders for the industrial sector increased rapidly, most of the industrial orders signed in 2022 were still under implementation due to the volume of the project and the implementation cycle, and the acceptance and handover work could not be completed within the reporting period and turned into output value. Under the comprehensive influence, the income scale of the company’s main business declined. Secondly, according to the requirements of accounting standards and internal control system, the company conducted impairment tests on all kinds of assets, and made individual provision for impairment losses on the accounts receivable of old municipal project customers with obvious signs of impairment and the inventory of engineering projects that were stopped due to abnormal reasons and the construction period was delayed. In the whole year, the company made provision for impairment losses of all kinds of assets of RMB104,124,200. To sum up, the main reasons for the company’s operating performance loss in 2022 are the decline in income scale and the provision of some asset impairment losses.

　　In the future, if there are unfavorable factors such as shrinking downstream market demand, intensified industry competition and rising operating costs, or if the company fails to consolidate and enhance its competitive advantage in the market and its market development ability is insufficient, the growth rate of its revenue and profit will decrease, and there may also be a risk that its performance will continue to decline.

　　The company continued to improve internal control, strengthen financial and capital operation control, and strengthen the refined management of costs and budgets to promote the continuous improvement of the company’s operating quality and the steady recovery of operating benefits; By adopting the method of system supplemented by process control, we will strengthen the supervision of pre-bid control, project establishment, target cost calculation and procurement plan, take project profit as the core assessment element, deepen the relationship between benefit and performance assessment, and further promote the risk control of the whole project life cycle.

　　(2) risk of debt caused by the high debt scale and asset-liability ratio.

　　By the end of 2022, the company’s debt scale was 9,450,636,000 yuan, and its asset-liability ratio (consolidated statement) was 78.76%, which was at a high level. During the reporting period, in addition to its own business accumulation, the company mainly obtained the funds needed for operation through debt financing. The company is in the process of development. In the future, with the increase of the number of projects undertaken by the company and the amount of orders, the company’s demand for working capital will also increase. If there is a shortage of working capital in the future operation of the company, it will bring certain risk of debt to the company.

　　In order to cope with the impact of high asset-liability ratio on the company and ensure the smooth implementation of the project and business development, the company has formulated an efficient fund utilization plan, built a fund management and control platform and actively expanded various financing channels; Secondly, by strengthening supplier management and implementing centralized procurement, we can control the cost of raw materials, improve the R&D and processing capacity of core equipment products, and optimize the structure of production personnel to improve the gross profit margin and enhance the profitability of the company. At the same time, through self-management accumulation, increasing the collection of accounts receivable, making full use of high-quality projects to obtain special government subsidies and tax incentives, the sources of funds are continuously expanded, the cost of funds is saved, the working capital demand of the company is ensured, and the possible risk of debt is effectively reduced.

　　(3) Impairment risk caused by large balance of accounts receivable and contract assets.

　　At the end of 2020, 2021 and 2022, the book value of the company’s accounts receivable and contract assets totaled 2,673,775,500 yuan, 2,745,739,400 yuan and 2,981,610,800 yuan respectively, accounting for 51.00%, 55.48% and 64.24% of the total current assets at the end of the current period.

　　The balance of the company’s accounts receivable and contract assets is relatively large, mainly due to the continuous expansion of the company’s business scale. Due to the characteristics of phased collection, and the company’s customers are mainly large and medium-sized enterprises, listed companies, state-owned enterprises and government units in the industry, the payment procedures are more complicated, and some customers’ ability to pay is reduced, which leads to a large degree of capital occupation of the company by accounts receivable and contract assets, which makes the company face certain credit impairment risks. If the corresponding funds cannot be recovered in time according to the contract, it will have an adverse impact on the company’s operating conditions and cash flow.

　　The main engineering projects involved in the company’s accounts receivable and contract assets are in normal construction state or in the process of completion acceptance, audit settlement, etc., and the progress of some projects may be delayed due to economic downturn, land acquisition by local government and adjustment of implementation methods. In the future, if the company’s major engineering projects can’t be constructed normally, completed acceptance, audited settlement, etc., or there are other major uncertainties in further progress, it may lead to the risk that the company’s accounts receivable and contract assets can’t be recovered and a large amount of bad debt reserve is accrued, which in turn leads to the risk that the company will face a decline in operating performance.

　　On the one hand, the company regards payment collection as one of the most important business tasks of the year, matches different incentive policies for accounts receivable with different aging, and directly links payment collection with the performance appraisal of executives and various business divisions according to the newly formulated assessment method, so as to comprehensively strengthen the management of accounts receivable recovery; At the same time, we will focus on projects with strong payment ability and guaranteed financing, regard project payment as an important evaluation index for bidding selection, strengthen contract management and risk control, and ensure that the contract is fulfilled as promised. On the other hand, after years of great-leap-forward development, the company has achieved a certain industry position in a number of environmental protection sub-sectors. The company will adhere to sustainable high-quality development, continue to optimize its business model and order structure in the face of complex and changeable market environment and competitive pressure in the industry, intensify efforts to promote project settlement and payment of old projects, accelerate the franchise projects to enter commercial operation, and actively eliminate the risk of business performance decline that may be caused by credit impairment and asset impairment.

　　(4) Risk of 4)PPP business model

　　PPP projects usually have the characteristics of large investment, long construction and operation period, which makes the company have certain risks in implementing PPP business, such as macroeconomic risks, policy environmental risks, market environmental risks, legal change risks, financial risks, financing risks, construction risks, operational risks, risks that the overall project progress is not as expected, risks that the budget and settlement are greatly deviated, and risks that the handling capacity in the operation stage is not as expected, which may ultimately affect the feasibility and actual economic benefits of the company’s PPP projects.

　　During the reporting period, the company did not undertake new PPP projects. For the PPP project in hand, the company has set up a special working class, on the one hand, it actively promotes the project implementation, audit settlement and commercial operation, on the other hand, it further optimizes the operation management of the project in operation, enhances the profitability of the project, and lays the foundation for obtaining a stable return on investment in the future; Thirdly, the PPP projects in hand were further sorted out, and the PPP project evaluation and analysis report, PPP project investment income target tracking table, PPP project exit work plan tracking table and fixed assets investment realization plan tracking table were formulated, etc., and the status of PPP projects was dynamically analyzed, and the exit or transfer negotiations were initiated for projects that were difficult to advance. By the end of the reporting period, seven PPP project exit agreements had been signed.

　　(5) Risk of intensified market competition

　　In 2020, 2021 and 2022, the comprehensive gross profit margin of the company’s main business was 27.33%, 15.59% and 11.11% respectively. As a pillar industry of the national economy, the state has paid more and more attention to the development of environmental protection industry. Especially after entering the "14 th Five-Year Plan" period, the scale of environmental protection industry has steadily expanded, driven by favorable policies and accelerated release of orders, and industrial investment has been continuously enhanced.

　　While the environmental protection industry market presents great potential, the market competition is also increasing. In the market competition with environmental protection enterprises at home and abroad, if the company cannot maintain its advantages in technological innovation, product cost control and after-sales tracking service in the future, the market competition risk faced by the company will further increase.

　　In order to cope with the complex and changeable market environment and increasingly fierce market competition and ensure the smooth realization of the company’s business strategy, the company insists on building its core competitiveness, actively explores foreign markets based on the domestic market, enhances its marketing ability and technical service support, and enhances its ability to cope with market changes.

　　(6) the risk of technology being overtaken

　　In 2020, 2021 and 2022, the company’s R&D expenses were 193,026,300 yuan, 200,044,300 yuan and 170,669,500 yuan respectively. The company invested heavily in technology research and development. If the company cannot continue to maintain its advantages in technological innovation in the future, it will face the risk of being eliminated or overtaken, which will lead to the company being at a disadvantage in the future market competition.

　　In terms of technological innovation, the company will continue to strengthen R&D innovation and achievement transformation, expand key technology reserves, promote the application of scientific research achievements in production, actively build an industry-leading technology brands, and provide strong technical support and services for the development of the company’s business market.

　　(7) Risk of production safety

　　The environmental comprehensive treatment project undertaken by the company usually involves equipment manufacturing, assembly and integration, transportation and installation, project site construction and other links, which are dangerous and easily affected by various uncertain factors or unpredictable factors. Therefore, in the process of project implementation, the company has certain project implementation safety risks.

　　In order to scientifically prevent the safety risks in the project implementation process, the company implemented standardized management of on-site safety production, implemented occupational health and safety management system, applied PDCA cycle management mode, carried out hazard factor identification, and conducted closed-loop management of potential safety production hazards, effectively reducing all kinds of safety production risks, promoting the continuous improvement of on-site safety management level of the project, and ensuring the smooth and rapid implementation of the project.

　　(8) Environmental risks

　　In recent years, the national pollution emission standards have been continuously improved, environmental testing indicators and requirements have been continuously increased, and the daily supervision of environmental protection departments has also been continuously strengthened. The company mainly conducts business by undertaking environmental protection projects or investing, constructing and operating environmental protection projects. In daily operation, there are risks in environmental protection such as air pollution, harmful substances, sewage and solid waste discharge, and noise pollution.

　　Although the company has taken a number of measures to avoid or minimize the potential adverse impact on the environment in the process of project construction and operation, there are still certain environmental protection risks in the actual production and operation process. If environmental pollution incidents occur, it may have a certain adverse impact on the company’s management, brand reputation and profitability.

　　The company attaches great importance to the investigation and resolution of environmental risks, and has set up a professional operation team to formulate practical accident prevention measures for different types of projects, eliminate potential unsafe factors and management defects, continuously improve the emergency response capability of environmental emergencies and avoid major environmental incidents.

　　[Aika Auto Domestic New Car Original]

　　A few days ago, Aika Automobile learned that BYD Han DM (parameter picture) (parameter | inquiry) -i is expected to be listed in the third quarter. Han DM-i continues BYD Han’s design and makes adjustments in details. BYD Han DM-i is equipped with a DM-i plug-in hybrid system composed of 1.5T engine and motor.

Byd Han DM (inquiry module, please don’t edit it manually, if you need to delete it, please right-click on the picture to delete the inquiry)

　　In terms of appearance, BYD Han DM-i basically continues the design of the current model in terms of appearance. The air intake grille adopts hexagonal design and the interior is decorated with lattice chrome. In terms of body size, the length, width and height of the new car are 4960/1910/1495mm and the wheelbase is 2920mm respectively.

　　In terms of power, BYD Han DM-i is equipped with a DM-i plug-in hybrid system consisting of a 1.5T engine and a motor. The maximum power of the 1.5T engine code-named BYD476ZQC is 102kW (139HP), and the model of permanent magnet synchronous motor is TZ220XYG, with the maximum power of 145kW (197HP). In terms of batteries, the new car will be equipped with lithium iron phosphate batteries.

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The other half of "Han" tests the high performance version of Han EV four-wheel drive.

On December 26th, the press conference of the M9 and Huawei Winter Scene was held in Shenzhen. Panoramic wisdom flagship SUV jointly built by Celestial Automobile and Huawei & mdash; — AITO M9 was officially launched, and the official guide prices of the series models are: 469,800 yuan for extended-range Max version, 509,800 yuan for pure electric Max version, 529,800 yuan for extended-range Ultra version and 569,800 yuan for pure electric Ultra version.

The M9 is a masterpiece of joint design and in-depth empowerment by Cyrus Auto and Huawei. It is the peak product with the highest specification level in AITO, and will shake the existing pattern with the flagship posture. At the press conference, Yu Chengdong, managing director of Huawei, CEO of BG and CEO of BU, a smart car solution, said: "The M9 will redefine the best smart flagship SUV within 10 million yuan, bringing users the ultimate new experience ahead of more than one generation." He Liyang, president of Celestial Motors, said: "Celestial Motors is rapidly increasing its production capacity and will make every effort to let users who like to ask about M9 experience the powerful charm of the best SUV within 10 million as soon as possible."

Leading wisdom aesthetics empowers energetic travel.

People-oriented, experience first. Wenjie M9 is based on a brand-new luxury D-class platform and adopts a brand-new design language. The skyline is used to design and suspend the roof, showing the posture and full profile of the swimming dolphin. Through many ingenious designs, such as 3.1-meter-long flat side windows, the aerodynamic performance of the whole vehicle has been effectively improved, and the best wind resistance of 0.264Cd (EV model) in the same class has been realized.

It is worth mentioning that Wenjie M9 is equipped with the leading generation of intelligent lighting system, and HUAWEI XPIXEL Huawei Megapixel intelligent projection headlights adopt the original double-reflection spatial optical system, which makes the ultra-near field projection more extreme and realizes the intelligent welcome function of 3m ultra-near field; Dual-lamp 2.6 million pixel fine lighting is safer; The masking adaptive algorithm can be linked with ADS to accurately mask the light so that it does not disturb people; Richer scene innovation, width-indicating light carpet makes users safer to drive on narrow roads; 100-inch outdoor giant screen projection to share more happiness; Smart interactive matrix headlights realize thousands of cars and thousands of faces, so that cars have the ability to communicate independently for the first time; Multi-scene wisdom lamp language is often used and new, which is the perfect integration of technology and humanities.

The leading ever-changing space meets the whole scene travel.

Wenjie M9 is equipped with a leading generation of ever-changing space, with the largest flat floor design of 3.04㎡, the best seating space in the same class of 2725mm, and the largest space in the first, second and third rows, which has a higher room rate. It also supports the ever-changing seating modes of 3, 4, 5 and 6 seats, and its vision, space and flexibility are comparable to those of mainstream MPV models, easily meeting users’ full-scene travel needs.

Leading intelligent cockpit to build space intelligence benchmark

The ultimate form of intelligent cockpit will be an intelligent mobile space. Wenjie M9 is equipped with a leading generation of smart space, and the whole car is equipped with 10 screens, creating a new benchmark for space intelligence. Huawei’s head-up display system is the first time to get on the bus, with the highest 2K resolution, the highest brightness and the imaging area of 75 inches in the industry. The fusion display of AR real scene and ADS brings a more intuitive, safer and more immersive navigation experience, reversing images and parking to watch movies. Look up and show. In addition, with a brand-new integrated universal triple screen design, the 12.3-inch LCD dashboard, 15.6-inch intelligent central control large screen and 16-inch passenger entertainment screen are properly laid out, and with the brand-new HarmonyOS 4 intelligent cockpit, entertainment experiences such as seamless flow between multiple screens and watching the whole car can be easily realized through three-finger sliding.

Leading Hard-Core Security Makes Full-Dimension Protection

The M9 is equipped with more than one generation of hard-core security. In terms of passive safety, it is equipped with a super-strong basalt body and protects users through a basalt structure with eight horizontal and five vertical directions. The 9000-ton integrated die casting process, 12 2000MPa hot-formed steel sections for nuclear submarines, and 9-airbag ultra-high configuration, together with the brand-new Huawei "Giant Whale" 800V high-voltage battery platform, provide all-weather protection through cloud BMS battery management, and escort users for every trip.

Security is really luxurious, and privacy is really noble. The M9 in the world has gone further in active security. HUAWEI ADS 2.0 is not afraid of things and can avoid them, achieving the strongest AEB in history. In the face of stationary vehicles and pedestrians, the maximum speed of automatic braking can reach 120 km/h. The ESA emergency steering assist is launched, and the steering assist driver is automatically controlled to avoid collision. The backward active safety ability will be enhanced, and the wrong step on the accelerator will also brake. It is worth mentioning that the M9 also protects users’ privacy and safety in all directions by means of face authentication & biometric data not leaving the car, spatial data isolation between the driver and the passenger, hidden call notification and automatic hiding of personal sensitive information.

Leading intelligent chassis enjoys the journey with wisdom.

Wenjie M9 is equipped with a leading generation of intelligent chassis, which adopts a high-performance all-aluminum chassis and an integrated aluminum die-casting frame, and is equipped with a front four-ball long double wishbone and a rear multi-link independent suspension. The whole system comes standard with an intelligent closed air suspension and CDC variable damping shock absorber. The height of the fifth-gear body can be adjusted, and the adjustment speed can be increased by 30%, thus ensuring the stability of the body at all times, giving consideration to comfort and handling. Through HUAWEI ADS intelligent road perception, iVSE intelligent vehicle state perception, the new HUAWEI DATS dynamic adaptive torque system and HUAWEI xMotion intelligent body collaborative control system, the four technologies are fully aware, and 3D control is intelligently coordinated to control the journey with wisdom. In addition, Wenjie M9 won the "Top Ten Chassis in China in 2023" in the "Top Ten Chassis in China in 2023" sponsored by China Automotive Technology and Research Center.

Leading intellectual strength enables high-quality delivery of products.

Before the listing of the M9, the number of reservations has exceeded 54,000 units, and the pioneer plan will be launched for early reservation users, with a limited number of 2,000 places. The delivery will be started first on January 26, 2024, and the scale delivery will be officially launched on February 26. This is due to the fact that Celestial Automobile has a smart factory built according to international leading standards and industrial Internet requirements. The factory has more than 1,000 intelligent devices, and integrates advanced technologies such as AI vision and big data, which can realize 100% automation of key processes, accurate recognition of 0.05mm hair grade blue light, monitoring of over 600 key points, and 100% quality monitoring traceability. In addition, the factory is also the first to be equipped with the world’s leading 9000T die casting machine, achieving the highest integration among integrated die casting parts; At the same time, it has achieved the highest production efficiency in the world, and a new car can be rolled off the assembly line every 30 seconds.

The launch of AITO M9 will redefine the new standards of smart cars in many fields, such as intelligent technology, intelligent space, intelligent safety, intelligent driving and control, and bring users the ultimate new experience that is ahead of more than one generation. Users can order through Huawei Mall, Huawei Authorized Experience Store, my Huawei APP and User Center, and they can enjoy the matching rights worth 10,000 yuan immediately.

Upstream news Luo Xiaodi

According to the official news, since the new M7 was officially launched and delivered on September 12th, it has exceeded 70,000 units in 45 days, which is half a month ahead of the time when it exceeded 60,000 units on October 15th. The new M7 in Wenjie has launched five models, with the price range of 249,800 yuan to 329,800 yuan.

As a modified model, the appearance of the new M7 has not changed much from that of the old model. The main change is that the MAX version updates and upgrades the AGS active intake grille, which optimizes the drag coefficient of the whole vehicle by 11%. In addition, the new car has added a side-looking camera at the front fender and adopted Huawei ADS 2.0 advanced intelligent driving system.

The body size of the new M7 is 5020mm (length) × 1945mm (width) × 1760mm (height), and the wheelbase is 2820mm. The rim is available in 20-inch and 21-inch specifications, and the body color has added ice crystal silver. In addition, the new car can also be equipped with electric pedals, electric suction doors and luggage racks with built-in network antennas. In terms of storage space, the trunk volume of the five-seat model is 686 liters, which can be expanded to 1619 liters at the maximum, and the trunk length of the six-seat model is increased by 46 mm.

In terms of interior, the overall design of the new M7 basically continues the old model, and only the color of the steering wheel is fine-tuned to keep it consistent with the theme color in the car. The new car is equipped with a 10.25-inch curved full LCD instrument panel and a 15.6-inch central control panel, with a built-in HarmonyOS intelligent cockpit system. In addition, the new car is also equipped with independent air conditioning in three temperature zones.

The new car comes standard with four seats and is equipped with ventilation, heating and massage functions. In addition, the new car is equipped with Huawei’s in-vehicle smart screen system, and the rear row can support two sets of Huawei’s in-vehicle smart screen systems, supporting functions such as front and rear multi-screen connection and interaction, car control, and supporting various scenes such as education, office, entertainment and games.

In terms of power, the new M7 in Wenjie is equipped with an extended-range power system consisting of a 1.5-liter four-cylinder turbocharged range extender and a Huawei drive motor, and offers two-wheel drive and four-wheel drive options. Among them, the maximum power of the range extender is 112 kW, and the maximum power of the rear axle drive motor is 200 kW; The four-wheel drive model also adds a driving motor with a maximum power of 130 kW to the front axle. The new car has a comprehensive cruising range of 1,300 kilometers under CLTC, a pure electric cruising range of 240 kilometers, a fuel consumption of 5.6 liters per 100 kilometers under feed condition, and an acceleration time of 4.8 seconds per 100 kilometers for the four-wheel drive model. In addition, the new car has also upgraded the chassis, equipped with front and rear suspension double FSD variable damping shock absorbers.

Original title: Tik Tok’s head online celebrity "Crazy Xiao Yang Ge" will also enter Tik Tok?

Recently, "Crazy Xiao Yang Ge" admitted that he would enter TikTok and "earn money from foreigners", which triggered a discussion craze among netizens about TikTok red man "leaving" Tiktok.

"Crazy Xiao Yang Ge" responded to the opening of Hangzhou Branch in the live broadcast:"We will change our name to Three Sheep Holding Group in July, and the three sheep in Hefei will be the global headquarters in the future, because there will be e-commerce behind TikTok. Entering Hangzhou is to integrate better resources and introduce products, brands, talents and other resources into their hometown of Anhui. "

The popularity of "Crazy Brother Xiao Yang" stems from a "self-teasing" video. A few tens of seconds of short video has brought more than 600,000 fans to "Crazy Brother Xiao Yang", and received the first brand advertisement since the short video started its business, earning 500 yuan.

At this point, "Crazy Xiao Yang Ge" seems to have mastered the traffic password, relying on"self-deception"The number of fans of "Crazy Xiao Yang Ge" in Tik Tok has soared. At present, "Crazy Xiao Yang Ge" has more than 99.99 million fans in Tik Tok. He revealed in the live broadcast that he can earn 100 million yuan just by bringing goods live for one month.

"Crazy Xiao Yang Ge" is not the first person who wants to enter TikTok. Before that, Luo Yonghao also revealed that he wanted to enter TikTok.In November last year, the live broadcast e-commerce organization founded by Luo Yonghao, the anchor of online celebrity, TikTok, made a friend to arrange overseas business, focusing on the live broadcast training of Tiktok.

Nowadays, TikTok’s global territory is accelerating its expansion. Not only do many cross-border sellers join Tik Tok to seek a new way out, but even many domestic reds smell the huge business opportunities behind Tik Tok and plan to start a journey to the sea.

Comparison between Tik Tok and Tik Tok in China;

1. Domestic Tik Tok market tends to be saturated.

2.Tik Tok e-commerce is a blue ocean with great development potential.

3. Successful experience of live delivery in Tik Tok.

With the recovery of international flights and logistics, many domestic sellers have long been eyeing Tik Tok, a pool of traffic depressions, ready to enter the Nuggets. Because TikTok is very similar to the domestic e-commerce model, but it is in the initial stage of development, Internet practitioners who missed the first wave of domestic short video marketing naturally do not want to miss this opportunity.

Not long ago,TikTok’s monthly active users in the United States exceeded 150 million.After TikTok’s cross-border live e-commerce went through the fanatical period last year, sellers no longer blindly followed.

For some sellers, it may be a new opportunity. Nowadays, the domestic live broadcast mode can run smoothly, obviously thanks to the huge manufacturing industry since this century, the whole e-commerce industry has developed at a high speed, regardless of logistics, supply chain, and even consumer acceptance, the industrial chain has been very perfect, and live broadcast has only played a role as a catalyst.

However, in overseas markets, especially in Europe and America, due to its developed retail industry, e-commerce has not squeezed the traditional retail industry too much, and the popularity and convenience of e-commerce platforms are not as good as those in China.

If you have a crush on this, but don’t know how to get in?Fiona Fang provides you with a one-stop service for cross-border e-commerce, which will enable you to quickly understand, get started, enter overseas, stay in Tik Tok, and open up new business territory.

Editor in charge:

BYD’s last bomb in the new energy battlefield this year was finally dropped, and a new generation of BYD Tang, which received much attention, was officially listed. The BYD Tang released this time has made great progress over the previous generation in terms of appearance, interior, powertrain and technology configuration. Undoubtedly, its appearance means that BYD has reached a new level in new energy vehicles.

The car is definitely a good car. From the attention before listing, we can see how high expectations manufacturers and fans have for it. However, there is a detail in BYD Tang that makes me uneasy, that is, the new generation Tang will remove all the physical buttons of the central control, leaving only a few buttons around the gear lever and on the steering wheel, and replace them with a 14.6-inch intelligent floating large screen. At first glance, the sense of science and technology is full of intelligence and high-end atmosphere, but combined with the actual use process, I can’t help but think about it.

Nokia becomes Apple BYD is playing with fire.

BYD has always had an inexplicable ambiguity about the buttons on the central control. From the first model released in Dynasty series, BYD changed all the buttons on the central control to Chinese printing, in order to highlight that the vehicle was made in China and convenient for China people to use. A few years later, BYD developed to the second stage. The Tang released this time simply saved all the central control buttons, leaving none, just playing with the IPod. Technology has been upgraded, but what should we do about safety?

All Chinese keys

To give a simple example, the earliest popular mobile phone was Nokia. At that time, it was all physical buttons, and each button only represented a function. After a long time, we could operate the mobile phone to send text messages and make phone calls without looking at the screen, because each step was fixed and the buttons were fixed. Later, Joe helped the Lord break the pattern of mobile phones, and Apple brought the whole mobile phone industry into the era of smart touch screens. The mobile phone has no physical buttons, only a big screen is left. No matter how long it takes, it won’t be able to send short messages without looking at the screen as before, because every operation you make is a non-directional command, and you don’t know what you ordered at the moment. At the same time, the functions of mobile phones and the amount of information they carry are also increasing, and people’s eyes stay on mobile phones for a long time, thus ignoring the surrounding situation. The emergence of smart phones once increased the road accident rate.

The same thing happened in the car. In the past, we could control the switch of the air conditioner with one hand without leaving the road ahead, and adjust the temperature, air volume and radio frequency of the air conditioner. Now I want to do this series of actions with Tang, so I must shift my eyes to this big screen, then slide the screen, click on the air conditioner application, and then click on it to adjust the temperature and air volume after entering the interface.

In case I miss something in any step, I have to press the back button again, so my eyes will look at the big screen from time to time, I can’t concentrate on the road ahead, and the risk factor of driving will be greatly improved. This is just a function. If you put a movie on the big screen, the ending is too beautiful for me to watch. . . .

It’s dangerous for drivers to look at their mobile phones while driving, so you just put a big ipod next to me naked. Can I paint Tik Tok, eat chicken and drive a good car?

Voice control system cannot represent everything.

If you can cancel the physical keys, there will inevitably be a successor, that is, the popular voice control system, which is linked to the Internet and can complete the corresponding instructions through voice recognition. The voice control system has been used by major brand manufacturers in recent years and has gradually become the standard of new cars. But the voice system is the icing on the cake after all, and it still can’t be the dominant one at the present stage.

Analysis, although BYD has not announced it, the supplier of voice system should be iFLYTEK, and iFLYTEK has always been in a leading position in the field of voice recognition. In recent years, the car-mounted voice system developed has been widely used in different models of major brands, and its voice recognition accuracy has reached more than 95%.

However, used riders know that the voice recognition system in the car is also flawed; First, the response is too slow, and it usually takes a few seconds to respond after a command is spoken; Second, even if the recognition degree has reached more than 95%, there will often be recognition errors and unrecognizable situations, and used riders should all have experience, so at this stage, voice control can’t represent everything.

ponyHot review

It is undeniable that with the development of science and technology, cars in the future will become more and more intelligent and technological. You don’t even need to press buttons, and you can fully realize human-computer interaction and unmanned driving. From this point, BYD is undoubtedly a pioneer. But at present, the level of intelligent technology is not enough to support this change. Otherwise, with the technical strength of BBA, I dare not try to cancel the physical keys of central control so far.

Some people will say that Tesla doesn’t have physical buttons either, because the market share of Tesla is too low. Even if there is a problem in this respect, it is considered as an individual phenomenon, but the sales volume of Tang after listing will be more than ten times that of Tesla. With such a large market share, the problem will soon be highlighted.

Of course, these are only analysis. Only after the vehicle is handed over to consumers for a period of time can we know whether the worried things will happen. If you have any questions, welcome to smash the hammer.

Great Wall Motor has also begun to exert its "intelligent driving". As soon as it started, it was directly the chairman of Great Wall Motor, Wei Jianjun, who was overbearing, who personally tested the "NOA without a full picture". Great courage, direct is the whole live broadcast, no rehearsal, no editing, no filter, manager Wei: I play is real! When Mr. Wei was asked by the host: What if the live broadcast overturned? Mr. Wei calmly replied: The Internet is real, and we will actively face the rollover. Be sure to show the most authentic side of NOA’s capability boundary of the Great Wall city without map directly to the audience and let netizens evaluate it. The whole one-hour live broadcast, except for the manual takeover, was "zero takeover". Baoding represents the complex and changeable road conditions in the second and third tier cities of China, and the traffic environment is full of challenges, from the complex "six-way intersection" to the narrow streets, which puts a severe test on every movement of the intelligent driving system. The road sections include the main urban area with spacious roads in Baoding, the old city of Governor’s Office in Zhili, Baoding, Jianguo Road in Barbecue Street, and Liucha Road (the intersection of six roads with road repair), and the scenes include unexpected scenes such as unprotected left turn, automatic lane change, automatic brain repair of lane-free lines, pedestrians crossing vehicles, road rights game at complicated intersections where people and vehicles are mixed, etc., and basically include all the scenes that can be covered, including some long tail scenes. Finally, congratulations on the successful end of the live broadcast of the Great Wall’s "NOA without Pictures" and no rollover. As Wei Jianjun himself said: The Great Wall company is still relatively traditional, and it is not easy for us to say what has not been accomplished. If it is done, let the netizens evaluate it.

During the live broadcast, Chairman Wei Jianjun said: "Car safety is no small matter, and safety always comes first. We must have a more serious attitude, be more fully prepared, dare to challenge complex scenes, can’t treat users as mice, and make users feel more at ease. "

Traffic light recognition and intersection turning: accurate recognition and safe passage

The NOA of Great Wall Motor can accurately identify standard traffic lights and various non-standard traffic lights to ensure safe and reliable traffic at various intersections. The farthest recognition distance of the system reaches 150 meters. Whether it is a standard intersection or a special intersection, the success rate of steering exceeds 95%, so that vehicles can pass safely and smoothly in a complex mixed-flow environment.

Obstacle identification and flexible detour: reasonable obstacle avoidance and flexible detour.

The NOA of Great Wall Motor can not only accurately identify static obstacles, such as cone barrels and construction iron fence, but also accurately identify dynamic obstacles, such as pedestrians and non-motor vehicles. The system can flexibly adjust the driving route according to the different obstacles identified and combined with the real-time traffic conditions, and the bypass action is smooth and stable, which improves the driving safety.

Full scene lane change and lane line management: smooth merging and smooth driving.

NOA, the full scene of Great Wall Motor, provides comprehensive lane-changing support, which can realize efficient and safe lane-changing operation, with a lane-changing success rate of 98%, and can effectively reduce the risk of congestion in congested sections. In addition, even in the road section without lane lines, the system can make the vehicle run stably with its powerful lane line simulation ability.

Defining Future Driving: Intelligent Evolution from Rules to Data

The "brain" of NOA in the whole scene of Great Wall Motor originates from the SEE integrated intelligent driving model of Great Wall Motor, which realizes the link integration of perception and decision-making, and realizes the transformation from rule-driven to data-driven. The core value of the SEE integrated intelligent driving model revolves around three points: Safety, Efficiency and Experienced. SEE can constantly learn and adapt to the new driving environment, accurately deal with complex road conditions, improve driving efficiency and comfort, and truly realize the driving experience of "seeing things, seeing the road clearly and understanding people".

Great Wall Motor dared to face the public directly, and the live test of the whole scene NOA challenged the difficult road conditions, showing the industry-leading intelligent driving level to the outside world. At the same time, as Chairman Wei Jianjun emphasized, Great Wall Motor adheres to the safety bottom line, treats every technological innovation with a serious and pragmatic attitude, and brings a safe, convenient and humanized intelligent driving experience to every user.

On April 12th, iCAR brand, a new force of Chery Group, held a grand brand night in Beijing in 2024, which clarified the brand positioning of "cars for young people" and the latest vision of "building excellent cars for young people with young hearts". The brand-new product iCAR V23 was unveiled simultaneously, and the brand was upgraded with new designs, technologies and products. At the same time, iCAR brand also previewed X25, the first model of X series, further demonstrating the brand’s strategic planning for the future new energy era.

Yin Tongyue, Party Secretary and Chairman of Chery Holding Group, said at the event: "iCAR is a" new special zone "created by Chery Group. The Group will spare no effort to support the development of iCAR, with no upper limit on investment, and help iCAR enter the first camp of new energy." Yin Tongyue emphasized that the Group will gather the best resources and cutting-edge technologies for young users and iCAR brands to ensure the coolest and best cars.

At the press conference, Chery Automobile announced that it has reached a strategic cooperation with Contemporary Amperex Technology Co., Limited, a leading global enterprise in new energy batteries. The two sides will further strengthen cooperation in technology and capital to jointly help the growth of iCAR brand. Zeng Yuqun, Chairman and General Manager of Contemporary Amperex Technology Co., Limited, said that Contemporary Amperex Technology Co., Limited will provide strong innovative energy guarantee for iCAR brand, and the two sides will work hand in hand to make products excellent and reduce users’ burden, so as to make users affordable and use them well with full sincerity.

At the press conference, Dr. Su Jun, CEO of Zhimi Technology and chief product officer of iCAR brand, appeared. He will lead the entrepreneurial team hatched by Zhimi Technology to integrate into iCAR brand, and form the "strongest CP" together with Zhang Hongyu, deputy general manager of Chery Automobile Co., Ltd. and general manager of iCAR brand division. With rich experience in industrial design, product definition and innovative marketing, combined with Chery Automobile’s technical development, supply chain and quality management capabilities, it will inject new potential energy into iCAR and bring new experiences to young users.

Icarv23-Young People’s First Car

Under the background that the automobile industry has entered the era of "super product manager", Dr. Su Jun said that iCAR firmly believes in the value of users and the power of products. He will lead the team to build a cool and valuable car for young people with the concept of "single model, high quality, mass and long cycle".

As the first product of brand upgrading, iCAR V23 is positioned as "style off-road electric city SUV". Its exterior design is full of strength and fashion sense, and the off-road style square box shape pays tribute to the classics. The four-wheel four-corner design, ultra-short front and rear suspension and large wheelbase have brought strong visual impact. At the same time, it gives a huge space for the car, and upgrades the driving experience with super comfortable seats and "high-profile" vision.

In terms of intelligence, V23 also performed well. Thanks to L2+ intelligent driving and the application of 8155 mainstream chip car, users can easily master the road conditions and enjoy the pleasure of "on the road".

ICAR V23 accurately meets the core value needs of young users. With its high value, high taste, high texture, super practicality and reliability, it has become an ideal choice for "the first car for young people". As Su Jun promised at the press conference, the upgraded brand iCAR will continue to stride forward on the new energy track, and finally realize "let everyone enjoy the fun of exquisite technology", so that young people can, should and must drive the coolest and most fun car right now.

Brand-new product matrix-the first choice for young people

At the event site, iCAR previewed X25, the first model of X series.

X25, which is positioned in medium and large off-road MPV, is an innovative work of iCAR for the future new energy era. Its body design combines classic off-road elements with single-car design to show the sense of future science fiction. Relying on the technological advantages of the new energy platform, X25 has better maneuverability and stability, and the fully flat floor design can realize transparent interior space and flexible seat combination to meet various travel needs.

In the future, iCAR brand will continue to enlarge the core value of users based on the explicit needs of users, which is embodied in the joint efforts of its 0, V and X series to create a rich product matrix. Among them, 0 series focuses on exquisite technology and pursues equal rights in science and technology; V series features off-road style, emphasizing differentiation, high value and super practicality; X series is committed to becoming a "new species of single-compartment car". ICAR brand will continue to show its strength and innovation ability in different fields, meet the diversified needs of more young users, and accompany them to start a wonderful travel life together.

“Spare no effort "powerful resources-the first" trust "of young people

A good product cannot be separated from a good system support. Chery, as a model of technological enterprise, has been insisting on self-research of technology since its inception, deeply ploughing into the field of automobile technology and constantly overcoming technical difficulties. Technology Chery will rely on the "Eta Ursae Majoris 2025" technology system, invest no less than 100 billion yuan in the next five years to build a 300+ Eta Ursae Majoris laboratory, and continuously develop various new technologies in the five core technology fields of Mars architecture, Kunpeng Power, Lion Intelligent Cabin, Great Wisdom Driving and Galaxy Ecology. Zhang Hongyu, deputy general manager of Chery Automobile Co., Ltd. and general manager of iCAR brand, said that Chery’s strong technical reserve is like a treasure chest, with everything.

ICAR brand relies on this treasure chest to accurately find out the suitable technology needed by young users. ICAR’s first product, iCAR 03, sold 5,487 vehicles in March and 2,113 vehicles in the first ten days of April, an increase of 81% from the previous month, and the sales trend was unstoppable.

At present, iCAR 03 has completed the first OTA upgrade, and the functions such as high-speed NOA and cross-floor memory parking have been fully "boarded", adopting a pure visual route, leading the technology and being close to the people, making it the first choice for this price segment. In addition, iCAR can continue to iteratively upgrade the electric four-wheel drive through technical means such as software upgrade and front and rear axle decoupling, making driving more flexible and interesting.

Backed by Chery’s strong technical strength, iCAR is full of confidence in the security field, providing users with all-round security protection. For the car body, it adopts multi-cavity, cage and steel-aluminum mixed structure, and the strength of B-pillar is as high as 1800Mpa. Combined with the embracing force transmission structure, it can cope with all kinds of collisions in all directions.

Battery safety is the most important thing. Chery has accumulated more than 30 test items in battery system safety standards, far exceeding the national standard and industry standards. It only uses battery cells from large factories, adopts sandwich structure, has strong impact resistance at the bottom, and combines with the early warning system of big data platform to identify risks in advance and ensure battery safety.

In the future, all the capabilities of Chery can be applied to other iCAR products, so that users can enjoy a more intelligent, safe and convenient travel experience. ICAR will also continue to rely on Chery’s strong technical support to continuously extract more "treasures" that meet the needs of young users and create a better travel experience for them.

Summary:

Facing the future, iCAR will empower products with Chery’s technical strength, open up the last mile with users with Internet thinking, continuously satisfy young people’s dreams and aspirations for affordable and cool use, and move forward with China new energy vehicles.

About iCAR brand:

ICAR is a brand of new energy under Chery, which is committed to creating cool and outstanding new energy vehicles for young people. Since its establishment, the brand has emphasized openness and innovation, integrated Internet thinking with the strength of Chery, and operated independently. ICAR 03 was launched as the first model in early 2024, and its market performance was strong. In the future, iCAR will lay out three series of 0, V and X, and plans to launch eight models before 2026 to expand the brand ecology and become a label brand of young lifestyle.

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　　Don’t say that Sang Yu is late, for it is still full of clouds. In the face of the epidemic, there are such a group of old policemen in Pudong Public Security Bureau. Although they are all 59 years old and nearing retirement, they are not afraid of risks, volunteered and faithfully performed their duties. At the last moment of their careers, they still stuck to the "epidemic" line and stood on the last post, contributing their own strength to the tough battle against the epidemic in Shanghai.

　　Chen Yongguan: Stand on the last shift.

　　"Hello, please show me your pass and nucleic acid test report." On the morning of May 13th, Chen Yongguan, a community policeman of the Academy Police Station who will retire the next day, still set up a card on Lingang Avenue to check the passing vehicles and personnel, wearing strict protective clothing. After the strict inspection as required, he did not forget to remind the other party to pay attention to protection. If necessary, he would also send some dry food to the passing truck drivers on the spot.

　　"Come on, I have some bread and biscuits to take with me on the way." Chen Yongguan always prepares some food in the car recently, so that he can lend a helping hand in time when he meets someone in need. This is because Chen Yongguan met a truck driver who came to Shanghai from other places for help when he set up a card inspection last time. The food on the other car was exhausted and he was unable to sustain it for a while. Fortunately, Chen Yongguan still left his own box lunch on the car, so he gave it to the other party together with bread, which helped him solve his urgent need and later helped him contact relevant departments to solve the problem of eating. Since then, Mr. Chen has developed the habit of preparing food in the car every time he goes out.

　　Although Mr. Chen is going to retire soon, he has always been at the forefront of the war. Maintaining the order of nucleic acid detection points, setting up checkpoints and patrolling the streets, wherever there is a need, there is his figure. On the afternoon of May 13th, the institute prepared a simple retirement ceremony for Mr. Chen. Although a few people were present because of the epidemic, colleagues in the institute sent blessings through video connection. "I always wanted to retire and have a good rest before, but when I retired, I was more and more reluctant." He couldn’t bear to part with purplish blue, let alone his comrades-in-arms and residents like "family".

　　Zhou Longxiang: It’s not time to have a rest.

　　"All the secret personnel have got on the bus. Let’s go." With the order of Zhou Longxiang, a community policeman from Yishuiyuan Police Station, two transfer buses carrying secret personnel slowly drove out, and Zhou Longxiang drove the police car all the way to ensure that the transfer buses arrived at the isolation point safely.

　　Zhou Longxiang, who retired more than two months ago, has always stuck to his post and fought in the front line of fighting the epidemic since the outbreak of the epidemic in Shanghai in March. He has been dealing with the masses for 30 years, and he has been recognized by the residents in his jurisdiction. During the epidemic, it was he who made the residents here feel at ease.

　　After the transfer bus arrives at its destination, Zhou Longxiang, who has completed the escort mission, will still say hello to the residents on board. "We have arrived at our destination, but it may take some time to move in. Please be patient and so on. There will be time for everyone to rest in the next few days." Before leaving, a few words of ridicule suddenly relaxed the originally nervous residents. Someone who knew Zhou Longxiang joked, "Officer Zhou, why don’t you come in and have a rest together for a while?" "I’ll forget it. I haven’t had a rest yet. I have plenty of time when I retire." In a burst of laughter, Zhou Longxiang immediately drove to the next mission site.

　　Ding Mingchu: Fighting continuously for more than 50 days.

　　Ding Mingchu, a 59-year-old comprehensive policeman of Zhuqiao Police Station, has been fighting continuously for more than 50 days. Every day, from maintaining the order of nucleic acid detection points at the beginning, persuading residents to abide by "staying indoors" to setting up checkpoints and investigating "black riders" today, the only constant is Ding Mingchu and his comrades who have been sticking to their posts.

　　"Officer, I have nowhere to go. What should I do now?" On a street duty, Ding Mingchu met the residents for help. The other party has been stranded outside because of seeing a doctor. When he returned from this rehabilitation, he found that his community was closed and managed. Because the nucleic acid test has not yet produced results, the other party could not go home for a while. If it weren’t for Ding Mingchu’s timely appearance, he would probably be sleeping on the street with nowhere to go.

　　"I don’t know when this report will come out. I’d better help you find a place to live first." Ding Mingchu, who has 37 years of police experience, quickly judged the crux of the matter, and immediately contacted the relevant departments of the town after calming the other party. Finally, he was successfully placed in a temporary shelter, which solved the problems of temporary accommodation and eating. The next day, the negative report of the other party’s nucleic acid test was successfully released, and he also successfully returned to his long-lost home.

　　Zhang Wenhu: Go retrograde and fight for the front line.

　　Zhang Wenhu, a community policeman from Beicai Police Station, is about to retire in August this year, but when he knew that the police needed to be deployed to reinforce the front line, he immediately found the leader to take the initiative to fight. "I am a community policeman. I have been doing it for so many years. I am more familiar with how to communicate effectively with residents." In this way, he and 17 other policemen formed an anti-epidemic vanguard, dressed in dense protective clothing, and retrograde settled in nine administrative villages in Beicai area, fighting at the forefront of the war epidemic.

　　For more than a month, Zhang Wenhu, like other young policemen, has been busy helping to carry out various epidemic prevention work, such as the transfer of positive cases, close contact personnel, the maintenance of nucleic acid and antigen testing order, staying at home, and the policy and legal publicity and notification of all inspections. Tired and sleepy, go back to the "camp" to take a nap, or sleep in the car, or live in a simple tent. Today, the epidemic situation has improved, but Zhang Wenhu dare not relax, still stick to his post and strictly implement various epidemic control work.

　　Chen Yongguan, Zhou Longxiang, Ding Mingchu, Zhang Wenhu … … They are all members of the public security team in Pudong, and they are the epitome of more than a thousand retired old policemen in Shanghai. They don’t have earth-shattering and vigorous stories, but they stick to them day after day. A purplish blue, purplish blue life. They interpret the responsibility and responsibility of the police with their own sincerity and practical actions.

The following article comes from Red Star Capital Bureau, and the author is Qiang Yaxi.

Hongxing Capital Bureau.

Truth creates value.

The Red Star Capital Bureau reported on May 14th that there was a rumor recently that "Xiaomi Wuhan Headquarters announced that it would lay off 90% of its employees over the age of 35". In response, Wang Hua, general manager of the public relations department of Xiaomi Group (01810.HK), responded through Weibo, calling the information a rumor.

The Red Star Capital Bureau noticed that on social platforms such as Weibo, some netizens posted: "The second headquarters of a certain meter in Wuhan officially announced that 90% of employees over 35 years old will be laid off." This statement caused heated public opinion, and some netizens speculated that it was Xiaomi Group that was mentioned in the article.

The picture is from the Weibo platform.

Regarding the above rumors, at noon on May 14th, Wang Hua, general manager of Xiaomi Group’s public relations department, responded to the matter through Weibo. He said that last night, information about employees over the age of 35 in our Wuhan headquarters only kept 10% appeared on social media platforms, which were all rumors after investigation. Now the legal department of the company has obtained relevant information and reported it to the relevant departments.

The picture is from the Weibo platform.

According to public information, Xiaomi currently has two headquarters in Beijing and Wuhan, and its Wuhan headquarters is located in Optics Valley, with a total construction area of about 52,000 square meters and a total investment of 340 million yuan.

In November 2017, Xiaomi Group, Jinshan Software and Shunwei Capital announced that they would settle their second headquarters in Wuhan, which was officially opened in December 2019.

source map

According to Chutian Metropolis Daily, at the opening ceremony in December 2019, Liu Guojun, general manager of Xiaomi Wuhan Headquarters, said that Wuhan Headquarters will be the new home of employees of Xiaomi, Jinshan and Shunwei Capital engaged in core businesses such as AIoT, big data, cloud services, e-commerce, new retail, office software, overseas R&D and financial investment. Lei Jun, chairman of Xiaomi Group, said that in the next decade, he hopes to build Wuhan into a super-large R&D headquarters of Xiaomi and a technical highland in the era of artificial intelligence. His goal for Wuhan headquarters is to accommodate 10,000 employees in the future.

Previously, Xiaomi Group released the annual performance announcement for 2022. In 2022, the total revenue was 280 billion yuan, down 14.7% year-on-year, and the adjusted net profit was 8.5 billion yuan, down 61.4% year-on-year. Its smartphone business, which accounts for half of the company’s total revenue in 2022, was 167.2 billion yuan, down 19.9% year-on-year, accounting for 59.7% of the total revenue.

Chengdu Business Daily-Red Star Journalist Qiang Yaxi

Original title: "Xiaomi responds! 》

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