Financial Performance - The company's net profit attributable to shareholders is expected to be approximately 82.99 million CNY, representing a 175.37% increase compared to 30.14 million CNY in the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be around 71.69 million CNY, reflecting a growth of 200.92% from 23.82 million CNY in the previous year[3] Sales and Market Impact - The increase in profit is primarily driven by a significant rise in sales of high-value-added products, particularly acid fracturing hose assemblies, in both domestic and international markets[4] Government Support and Financial Management - The company received a government subsidy of 8 million CNY due to its listing on the Beijing Stock Exchange[5] - Interest expenses have significantly decreased as the company has repaid all bank loans and financing lease borrowings[5] - The company has implemented cash management strategies for idle funds, resulting in higher interest income[5] Foreign Exchange and Cost Management - The depreciation of the RMB has positively impacted export business, leading to increased foreign exchange gains[5] - The addition of a 2 MW solar photovoltaic power generation facility has contributed to a reduction in electricity costs for production operations[5] Cautionary Note - The financial data presented is preliminary and has not been audited by an accounting firm, urging investors to be cautious of investment risks[6]

证券代码：832225 证券简称：利通科技 公告编号：2023-001 漯河利通液压科技股份有限公司 关于变更签字注册会计师的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别 及连带法律责任。 漯河利通液压科技股份有限公司（以下简称"公司"）于 2022 年 3 月 14 日召开第三届董事会第十九次会议审议通过了《关于<拟续聘 2022 年度会计师 事务所>的议案》，且该议案经公司 2021 年年度股东大会审议通过，同意聘请致 同会计师事务所（特殊普通合伙）作为公司 2022 年度财务审计机构。 为公司提供审计服务。 （二）诚信记录 霍琳近三年未受到任何刑事处罚，未因执业行为受到证监会及其派出机构、 行业主管部门等的行政处罚或监督管理措施，未因执业行为受到证券交易所、行 业协会等自律组织的自律监管措施、纪律处分。 （三）独立性 霍琳不存在违反《中国注册会计师职业道德守则》对独立性要求的情形。 近日，公司收到致同会计师事务所（特殊普通合伙）出具的《关于漯河利通 液压科技股份有限公司 2022 年报签字注册会计师变更函》 ...

Group 1: Company Overview - The company, Luoyang Litong Hydraulic Technology Co., Ltd., received two institutional investors for a research meeting on November 9, 2022 [1][2]. Group 2: Product Development and Market Position - The company is expanding its ultra-high-pressure resin hose market, with expected annual sales around 1 million [3][4]. - The main competitors in the ultra-high-pressure cleaning hose market are foreign brands, with the company’s hoses designed for working pressures between 1000-4000 bar, compared to competitors like Patel, which operates between 225-630 bar [3][4]. - The company has developed several series of oil hoses, including acid fracturing hoses, with ongoing market development and product optimization [4][6]. Group 3: Financial Performance and Pricing Strategy - The cost of purchased joints accounts for approximately 45% of the hydraulic hose assembly cost and 27% of the industrial hose assembly cost [5]. - The company does not plan to raise prices for hydraulic hoses due to high sensitivity from downstream customers amid low industry demand [6]. Group 4: Market Expansion and Certification - The company has entered the qualified supplier lists for major oil companies, with some products already participating in bidding processes [6]. - The sales volume from these major oil companies is currently small, but the company aims to increase its market presence in the domestic sector [6]. Group 5: Future Product Focus - The company will focus on high-pressure and ultra-high-pressure rubber hoses while also considering the development of fiber-reinforced rubber hoses based on industry needs [7].

证券代码：832225 证券简称：利通科技 公告编号：2022-058 漯河利通液压科技股份有限公司 关于接待机构投资者调研情况的公告 | --- | --- | |------------------------------------------------------------------------|-------| | | | | 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 | | | 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 | | | 带法律责任。 | | 漯河利通液压科技股份有限公司（以下简称"公司"）于 2022 年 11 月 7 日接待了 2 家机构的调研，现将主要情况公告如下： 一、 调研情况 调研时间：2022 年 11 月 7 日 调研形式：网络调研 调研机构：天风证券、中庚基金管理有限公司 上市公司接待人员：董事会秘书何军 二、 调研的主要问题及公司回复概要 问题 1：酸化压裂软管总成（配套开采页岩油气所使用的压裂车等设备）， 与其他胶管有什么区别？主要应用场景？产品的优势是什么？技术及行业壁 垒? 回答：酸化压裂软管总成和 ...

Group 1: Company Overview and Investor Interaction - The company, Luoyang Litong Hydraulic Technology Co., Ltd., received an institutional investor for a research meeting on November 3, 2022 [1][2]. - The meeting was conducted online and attended by the board secretary, He Jun [2]. Group 2: Product Pricing and Market Position - The pricing mechanism for acid fracturing hose products is based on international market prices, R&D investment, and material costs, resulting in a high gross margin [2][3]. - The company’s acid fracturing hose products are sold primarily through U.S. distributors, leveraging local market advantages [2][3]. - The gross margin for the acid fracturing hose products is high, and there are no immediate negative factors affecting customer procurement [2][3]. Group 3: Competitive Analysis - The company’s acid fracturing hose products have structural, material, and production process advantages compared to both domestic and foreign competitors, offering better price-performance ratios [3][4]. - The company has a sufficient backlog of orders, primarily from deposits and payments for acid fracturing hose products, with a contract liability of 22.22 million yuan, a 74% increase from the previous half-year report [3][4]. Group 4: Production Capacity and Investment Plans - The project for an annual production capacity of 40 million meters of industrial hoses has achieved approximately 25 million meters of capacity [4]. - Due to the downturn in the engineering machinery industry, the company will temporarily halt large-scale investments in this project and focus on market expansion to improve capacity utilization [4]. Group 5: Future Development Strategy - The company aims to enhance its product structure and competitiveness by optimizing hydraulic hoses and increasing market penetration in both domestic and international markets [5][6]. - There are no current plans for major shareholder reductions or transfer to another stock exchange, with future decisions dependent on the company’s development and market conditions [5][6].

Group 1: Market Potential and Product Advantages - The acid fracturing hose is primarily used in shale oil and gas extraction, connecting fracturing trucks to wellheads, enhancing oil and gas production through fracturing processes [3] - Compared to steel pipes, the advantages of the hose include: 1) Greater safety due to fewer connection points, reducing leak risks; 2) Higher efficiency and lower costs due to simpler installation; 3) Longer lifespan owing to fewer moving parts [3][4] - The domestic market for acid fracturing hoses is still developing, with risks of slower-than-expected market penetration [4] - China's shale gas production target is set to reach 80 to 100 billion cubic meters by 2030, indicating significant market potential for related equipment [4] Group 2: Technical Development and Competitive Landscape - The company has invested nearly 5 years in the research and development of its acid fracturing hose, achieving advanced technical performance [4] - Key technical challenges include hose structure design, rubber formulation, and production processes [4] - Major competitors in the international market include established companies like Continental and Gates, while domestic competition includes Shandong Yuelong [5][6] - The company differentiates its product through unique structural designs and material formulations, enhancing its competitive edge [6] Group 3: Sales Performance and Market Strategy - As of September, the company achieved sales of approximately 50 million yuan for its acid fracturing hose, primarily exporting to the U.S. market [7] - The company utilizes various methods to secure orders, including participation in industry exhibitions and direct client visits [7] - The domestic market is currently in a trial or small-batch supply phase, with plans to increase development efforts [7] - The product is characterized by high added value and a favorable gross margin, although specific margin data is not disclosed [7] Group 4: Traditional Rubber Hose Market Challenges - The traditional hydraulic hose market is experiencing a downturn due to the cyclical nature of the engineering machinery industry, exacerbated by the pandemic and real estate market issues [8] - Sales of traditional hydraulic hoses have declined compared to the previous year, influenced by rising costs of raw materials such as steel wire and rubber [8]

Financial Performance - Net profit attributable to shareholders for the first three quarters of 2022 rose by 98.58% to RMB 57,039,174.70 compared to the same period in 2021[15]. - Operating income for the first three quarters of 2022 increased by 9.97% to RMB 272,997,359.29 compared to the same period in 2021[15]. - In the first nine months of 2022, operating profit increased by 99.63% compared to the same period in 2021, primarily due to the recognition of high-value industrial hoses in domestic and international markets, leading to an increase in overall gross margin[23]. - Net profit for the first nine months of 2022 grew by 98.58% year-on-year, driven by the increase in operating profit[23]. - Total operating revenue for Q3 2022 reached ¥102,092,183.47, a significant increase from ¥73,955,428.29 in Q3 2021, representing an increase of approximately 38.3%[50]. - Net profit for Q3 2022 was ¥23,623,281.14, up from ¥7,258,622.87 in Q3 2021, indicating a growth of approximately 225.5%[52]. - Total operating profit for Q3 2022 was ¥25,690,528.32, compared to ¥8,178,478.74 in Q3 2021, representing an increase of approximately 213.5%[56]. - The total profit for Q3 2022 was ¥25,485,349.85, compared to ¥8,322,787.03 in Q3 2021, marking an increase of approximately 206.1%[56]. Cash Flow - Cash flow from operating activities for the first three quarters of 2022 increased by 69.71% to RMB 77,637,335.22 compared to the same period in 2021[15]. - The net cash flow from operating activities rose by 69.71% in the first nine months of 2022, attributed to a significant increase in export sales and government subsidies of 8 million yuan received from the Beijing Stock Exchange listing[23]. - The cash received from sales of goods and services in the first nine months of 2022 was ¥214,889,120.14, compared to ¥152,117,165.01 in the same period of 2021, reflecting an increase of about 41.3%[58]. - Operating cash flow for the first nine months of 2022 was CNY 77,365,082.89, an increase from CNY 45,218,895.23 in the same period of 2021, representing a growth of 71.2%[60]. - The total cash inflow from operating activities was CNY 246,210,980.47, compared to CNY 170,871,623.25 in the previous year, marking a growth of 44.0%[61]. Assets and Liabilities - Total assets as of September 30, 2022, increased by 6.66% to RMB 623,537,501.03 compared to the end of 2021[15]. - Current assets totaled ¥304,828,639.33 as of September 30, 2022, compared to ¥260,667,090.96 at the end of 2021, indicating an increase of about 16.9%[42]. - Total liabilities decreased to ¥169,359,721.84 from ¥185,482,237.68, showing a reduction of about 8.7%[44]. - The total liabilities to equity ratio improved to approximately 0.37 as of September 30, 2022, down from 0.46 at the end of 2021, indicating a stronger equity position[44]. - The company's short-term borrowings decreased by 100% compared to the end of 2021, as the company repaid bank loans to reduce financial costs[18]. Shareholder Information - The company’s total share capital remained at 105,765,745 shares, with 54.50% held by the controlling shareholder[29]. - The top ten shareholders collectively held 62.9% of the shares, with the largest shareholder owning 27.05%[31]. - The company distributed a cash dividend of 0.50 yuan per 10 shares and transferred 3 shares for every 10 shares held on April 21, 2022[37]. Research and Development - Research and development expenses for Q3 2022 were ¥5,444,574.54, compared to ¥3,722,614.26 in Q3 2021, an increase of about 46.2%[51]. - Research and development expenses for Q3 2022 amounted to ¥5,444,574.54, up from ¥3,722,614.26 in Q3 2021, reflecting a growth of approximately 46.2%[55]. Financial Expenses - The company's financial expenses decreased by 122.59% in the first three quarters of 2022 compared to the same period in 2021, due to reduced interest expenses from loan repayments[22]. - The company reported a decrease in financial expenses, with a net financial cost of -¥338,622.87 in Q3 2022, compared to ¥863,051.78 in Q3 2021[55].

Financial Performance - The company achieved a revenue of 76.58 million yuan in the first half of 2022, reflecting a year-on-year increase of 15.3%[4]. - The company's operating revenue for the first half of 2022 was CNY 170,905,175.82, a decrease of 1.94% compared to CNY 174,289,063.11 in the same period last year[27]. - The net profit attributable to shareholders increased by 55.68% to CNY 33,415,643.56, up from CNY 21,464,184.20 in the previous year[27]. - The gross profit margin improved to 33.60%, compared to 29.45% in the same period last year[27]. - The company's net profit for the first half of 2022 was 33.42 million yuan, representing a significant increase of 55.68% year-on-year[37]. - The basic earnings per share increased by 14.29% to CNY 0.32, compared to CNY 0.28 in the same period last year[27]. - The company's operating profit increased by 55.78% to CNY 39,588,454.21, driven by the recognition of high-value industrial hoses in domestic and international markets[52]. - The company's total comprehensive income for the first half of 2022 was CNY 34,417,743.51, compared to CNY 21,241,086.15 in the same period of 2021[127]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 601,690,990.22, reflecting a growth of 2.92% from CNY 584,610,368.06 at the end of the previous year[28]. - The total liabilities decreased by 6.65% to CNY 173,140,728.74, down from CNY 185,482,237.68[28]. - The company's cash and cash equivalents increased by 74.41% to ¥60,712,469.51, primarily due to a significant rise in foreign sales revenue, which is mainly settled in cash[45]. - The company's total liabilities decreased slightly to CNY 174,732,600.61 from CNY 186,989,781.20 year-on-year[122]. - The total equity of the company increased to CNY 433,416,121.83, compared to CNY 403,066,291.62 at the end of 2021[122]. Cash Flow - The net cash flow from operating activities was CNY 36,840,515.15, representing a significant increase of 103.85% compared to CNY 18,072,523.44 in the previous year[29]. - The cash flow from operating activities showed a strong performance, indicating improved operational efficiency and revenue generation capabilities[130]. - The total cash inflow from financing activities was CNY 142,880,903.96, while cash outflow was CNY 24,333,226.82, resulting in a net cash flow of -CNY 24,333,226.82, a decrease from CNY 55,071,898.14 in the previous year[129]. Market and Sales - The export revenue accounted for 59.28% of total revenue in the first half of 2022, highlighting a significant reliance on international markets[12]. - The company is actively expanding its market presence through participation in professional exhibitions and online promotions[34]. - The company is focusing on promoting high-margin new products to offset the impact of rising raw material costs[80]. - The company is accelerating the research and promotion of new products, such as ultra-flexible hydraulic hoses and acid fracturing hose assemblies, to enhance its product offerings and risk resilience[74]. Research and Development - Research and development expenses increased by 29.65% to ¥8,628,633.20, reflecting the company's commitment to innovation[49]. - The company has developed a high-value-added product line, including acid fracturing hose assemblies, which have gained recognition in both domestic and international markets[37]. - The company holds 17 invention patents and 7 utility model patents, demonstrating its strong R&D capabilities in the rubber hose industry[34]. Risks and Challenges - The company faces risks related to rising raw material prices, which could adversely affect its operational performance[12]. - The company is facing industry risks due to global economic slowdowns and post-pandemic impacts, which may affect market demand for rubber hose products[73]. - The company reported a foreign exchange loss of 467,300 yuan in the first half of 2022, indicating exposure to currency fluctuations[12]. Corporate Governance - The actual controllers of the company hold a combined 45.07% of shares, which may pose risks related to concentrated control over company decisions[74]. - The company has maintained its board and management structure, with no changes in key positions during the reporting period[112]. - The company has a total of 6 board members and 3 supervisory board members, ensuring a stable governance structure[108]. Shareholder Information - The largest shareholder, Zhao Hongliang, holds 28,610,400 shares, accounting for 27.05% of the total shares[94]. - The second largest shareholder, Liu Xueping, holds 19,053,840 shares, representing 18.02% of the total shares[94]. - The total number of shareholders is 6,202[91]. Fundraising and Investments - The company raised a total of CNY 104,270,463.00 from public offerings, with CNY 8,288,663.50 utilized during the reporting period[101]. - The company invested CNY 8,288,400.00 in its fundraising projects during the reporting period, achieving a cumulative investment progress of 98.75%[102]. - The company plans to use up to 20 million yuan of temporarily idle self-owned funds for cash management, with a focus on safe and liquid investment products, achieving an annualized return rate of approximately 2.1% from a 7-day deposit at Minsheng Bank[67].

Financial Performance - The company's operating revenue for 2021 was RMB 331,564,472.03, representing a 16.12% increase compared to RMB 285,541,492.86 in 2020[29]. - The net profit attributable to shareholders for 2021 was RMB 30,141,132.83, a decrease of 27.49% from RMB 41,569,218.44 in 2020[29]. - The gross profit margin for 2021 was 25.78%, down from 34.01% in 2020[29]. - The net cash flow from operating activities for 2021 was RMB 54,506,572.05, reflecting a 61.87% increase from RMB 33,672,811.61 in 2020[32]. - The company's total assets increased by 31.63% to RMB 584,610,368.06 at the end of 2021, compared to RMB 444,124,341.76 at the end of 2020[30]. - The total liabilities at the end of 2021 were RMB 185,482,237.68, a 12.85% increase from RMB 164,362,409.18 at the end of 2020[30]. - The company's weighted average return on equity based on net profit attributable to shareholders was 8.16% in 2021, down from 15.92% in 2020[29]. - The company's gross margin decreased by 8.22 percentage points due to rising raw material costs, including increases of 16.73% for steel wire and 41.27% for rubber[51]. - The company reported a net profit after deducting non-recurring gains and losses of CNY 23,823,644.53, down 7.14% compared to the preliminary report[36]. Investment and Expansion - The company plans to invest in a project to produce 40 million meters of industrial hoses annually, which will add 30 million meters of hydraulic hoses and 10 million meters of industrial pipes to its production capacity[13]. - The company invested CNY 62,410,083.01 in a new automated manufacturing project, with a completion rate of 59.88%[92]. - The company has a production capacity of approximately 19 million meters for its automated industrial hose manufacturing project, with parts already in production[51]. - The company is investing in a project to increase production capacity by 30 million meters of hydraulic hoses and 10 million meters of industrial hoses, which requires significant capital and time to implement[147]. Risks and Challenges - The company faced significant risks from rising prices of raw materials, including steel wire, rubber, and carbon black, which adversely affected its gross margin in 2021[14]. - The company is facing risks from international trade tensions and global pandemic impacts, which may affect raw material prices and operational costs[135]. - The company’s revenue from exports accounts for over 40% of its total revenue, making it vulnerable to changes in international trade policies and market conditions[12]. - The company is closely monitoring changes in export tax rebate policies, which could impact profitability, and is optimizing its export product structure accordingly[143]. - The company is facing risks from rising raw material prices, with significant increases in costs for steel wire, rubber, and carbon black, which could adversely affect operating performance[148]. Shareholder and Governance - The company's actual controllers hold a combined 45.07% of the shares, which poses a risk of concentrated control over business decisions[12]. - Major shareholders include Zhao Hongliang with 22,008,000 shares (27.05%) and Liu Xueping with 14,656,800 shares (18.02%), collectively holding 66.21% of shares among the top ten shareholders[167]. - The company has maintained its shareholder structure without any changes during the reporting period[172]. - The company has no instances of shareholders or related parties occupying or transferring company funds or assets during the reporting period[155]. - The company is enhancing governance by providing systematic training for board members and strengthening internal controls to comply with higher standards as a listed entity[140]. Research and Development - The company holds 17 invention patents and 7 utility model patents, demonstrating its strong R&D capabilities in the rubber and plastic products industry[45]. - R&D expenditure for the reporting period amounted to ¥13,587,709.29, representing 4.10% of total operating income, an increase from 3.92% in the previous year[107]. - The company has completed several R&D projects, including a high-density, high-pressure steel wire braided hose with a working pressure of 28-38MPa[111]. - The company has developed a multi-functional industrial hose that meets the standards of the China Rubber Industry Association, showcasing innovation in high-pressure applications[110]. - The company has established a collaboration with Qingdao University of Science and Technology to optimize the formulation of hydraulic rubber hoses, aiming to enhance product quality to meet or exceed domestic standards[112]. Environmental and Social Responsibility - The company is committed to environmental protection, ensuring that all pollutant emissions meet regulatory standards and investing in advanced environmental protection equipment[128]. - The company has achieved a B-level rating in environmental performance, reflecting its commitment to sustainable development[126]. - The company actively participates in charitable activities and has been recognized as an "Advanced Unit in Charitable Fundraising" by the local charity association[124]. - The company emphasizes compliance with laws and regulations, ensuring legal operations and contributing to local economic development through job creation and tax payments[125]. Employee Development - The total number of employees increased from 583 to 635, reflecting a growth of approximately 8.9%[196]. - The company emphasizes employee training through professional skill training and management culture practices, continuously improving overall employee skills[197]. - The company has established a comprehensive compensation and performance evaluation system tailored to different employee levels and positions, enhancing talent acquisition and long-term employee development[197]. - Various employee benefits include free meals, public rental housing for distant employees, and birthday gifts, aimed at increasing employee sense of belonging[197]. - The number of technical research and development personnel rose from 70 to 71, indicating a slight increase in focus on innovation[196].

Financial Performance - The company's net profit for Q1 2022 increased by 62.19% year-on-year, primarily due to government subsidies received from the listing on the Beijing Stock Exchange and a significant rise in sales of high-value-added industrial pipe products, which improved the gross profit margin from 20.48% in Q4 2021 to 31.93%[17]. - Revenue for Q1 2022 reached ¥81,725,379.07, representing an 8.49% increase compared to ¥75,329,005.31 in the same period last year[15]. - Basic earnings per share rose by 30.33% to ¥0.22, driven by the increase in net profit[18]. - The net profit for the first quarter of 2022 reached CNY 18,669,369.30, up from CNY 10,835,406.09 in the same quarter of 2021, reflecting a growth of approximately 72.5%[43]. - The total profit for the first quarter of 2022 was CNY 22,128,717.93, compared to CNY 12,689,093.16 in the first quarter of 2021, marking an increase of about 74.5%[43]. - The basic and diluted earnings per share for the first quarter of 2022 were both CNY 0.22, compared to CNY 0.17 in the same period of 2021, indicating an increase of approximately 29.4%[41]. - The company reported other comprehensive income after tax of CNY 464,376.75 for the first quarter of 2022, compared to CNY 136,398.36 in the same quarter of 2021, representing a significant increase[41]. - The total comprehensive income for the first quarter of 2022 was CNY 18,669,369.30, up from CNY 10,835,406.09 in the first quarter of 2021, reflecting an increase of approximately 72.5%[43]. Cash Flow - Operating cash flow for the period increased by 379.11% year-on-year, attributed to a substantial rise in exports of industrial pipe products and increased cash receipts from sales due to cash settlement in export transactions[17]. - Net cash flow from operating activities increased to CNY 18,530,249.16 from CNY 3,867,652.59, a significant rise of about 379.5%[46]. - Cash inflow from sales of goods and services was CNY 56,960,918.13, compared to CNY 42,476,902.70, reflecting an increase of about 34.2%[46]. - Cash received from other operating activities was CNY 8,595,192.39, significantly higher than CNY 2,073,189.50, marking an increase of approximately 314.5%[46]. - The net increase in cash and cash equivalents for the period was CNY 12,795,048.06, compared to CNY 70,761,354.75, a decline of approximately 81.9%[47]. - The ending balance of cash and cash equivalents was CNY 40,106,150.50, down from CNY 75,049,231.52[47]. Assets and Liabilities - Total assets as of March 31, 2022, amounted to ¥606,026,532.71, reflecting a 3.66% increase from ¥584,610,368.06 at the end of 2021[15]. - The company's asset-liability ratio (consolidated) was 31.16%, a slight decrease from 31.73% at the end of 2021[15]. - Total liabilities rose to ¥190,230,574.70, up from ¥186,989,781.20, indicating an increase of approximately 1.3%[37]. - Current liabilities totaled ¥155,803,593.48, compared to ¥151,805,442.63, marking a rise of about 2.0%[37]. - Non-current liabilities decreased slightly to ¥34,426,981.22 from ¥35,184,338.57, showing a decline of approximately 2.2%[37]. - The company's equity increased to ¥421,735,660.92, up from ¥403,066,291.62, which is an increase of about 4.6%[37]. Shareholder Information - The total number of ordinary shares remained at 81,358,266, with the proportion of unrestricted shares increasing from 50.83% to 54.50%[22]. - Major shareholders include Zhao Hongliang with 27.05% and Liu Xueping with 18.02% of shares[24]. - Total shares held by the top ten shareholders amount to 53,270,573, representing 65.48% of total shares[24]. - The number of shareholders holding more than 5% of shares remained stable, with a total of 6,342 ordinary shareholders[22]. Operational Costs - The company reported a total operating cost of ¥68,765,727.85 for Q1 2022, up from ¥62,784,889.17 in Q1 2021, which is an increase of about 9.5%[39]. - The operating cost for the first quarter of 2022 was CNY 56,450,471.02, compared to CNY 50,459,110.98 in the first quarter of 2021, indicating an increase of about 11.8%[42]. - The company's research and development expenses for the first quarter of 2022 were CNY 3,358,382.58, slightly higher than CNY 3,320,507.83 in the first quarter of 2021, showing a marginal increase[42]. Other Financial Information - Non-recurring gains and losses for the period totaled ¥8,458,747.58, with government subsidies contributing ¥8,519,424.53[20]. - The company has no significant litigation or arbitration matters pending during the reporting period[28]. - There were no external guarantees or loans provided by the company during the reporting period[27]. - The company has fulfilled all disclosed commitments without any overdue obligations[28]. - No assets were seized, frozen, or pledged that would adversely affect operations[29]. - The company did not implement any profit distribution or capital increase from reserves during the reporting period[30]. - Financial expenses for the first quarter of 2022 were CNY 778,104.41, down from CNY 1,275,764.40 in the first quarter of 2021, indicating a decrease of approximately 39%[42]. - The company experienced a credit impairment loss of CNY 725,989.20 in the first quarter of 2022, compared to a gain of CNY 470,241.19 in the same period of 2021[43].