Financial Performance - Revenue for the first half of 2023 reached ¥84,210,655.67, an increase of 8.58% compared to ¥77,558,882.06 in the same period last year[28]. - Net profit attributable to shareholders was ¥10,407,766.73, a decrease of 1.02% from ¥10,515,027.63 year-on-year[28]. - The company's gross profit margin decreased to 25.18% from 27.88% in the previous year[28]. - The company achieved operating revenue of 84.21 million yuan in the first half of 2023, an increase of 6.65 million yuan, representing a growth rate of 8.58% compared to the same period last year[46]. - The net profit for the first half of 2023 was 10.41 million yuan[46]. - The total operating revenue for the first half of 2023 reached ¥84,210,655.67, an increase of 8.9% compared to ¥77,558,882.06 in the same period of 2022[135]. - Net profit for the first half of 2023 was ¥10,407,766.73, a slight decrease of 1.0% from ¥10,515,027.63 in the first half of 2022[136]. - Basic and diluted earnings per share for the first half of 2023 were both ¥0.14, down from ¥0.20 in the same period of 2022[136]. - Operating profit for the first half of 2023 was ¥11,501,742.45, a decrease of 2.2% from ¥11,760,465.98 in the same period of 2022[135]. - The total profit for the first half of 2023 was ¥11,321,732.97, down 3.8% from ¥11,761,650.62 year-over-year[135]. Assets and Liabilities - Total assets at the end of the reporting period were ¥262,827,438.19, down 1.65% from ¥267,236,342.81 at the end of the previous year[29]. - Total liabilities decreased by 10.83% to ¥30,927,965.72 from ¥34,683,994.67 year-on-year[29]. - Net assets at the end of the reporting period were 231.90 million yuan, a decrease of 0.28% from the beginning of the period[46]. - Total current assets decreased from CNY 221,743,495.59 to CNY 209,935,207.81, a reduction of about 5.33%[127]. - Current liabilities decreased from ¥34,480,141.29 to ¥30,734,590.82, a reduction of about 10.5%[130]. - Non-current liabilities decreased from ¥203,853.38 to ¥193,374.90, a decline of approximately 5.5%[130]. - Total equity attributable to shareholders decreased from ¥232,552,348.14 to ¥231,899,472.47, a decline of approximately 0.3%[130]. Cash Flow - The company’s cash flow from operating activities showed a net outflow of ¥522,144.11, a decline of 125.58% compared to a net inflow of ¥2,040,966.55 in the previous year[30]. - Cash inflow from operating activities for the first half of 2023 was CNY 42,487,616.47, a decrease of 44.2% compared to CNY 76,173,730.02 in the same period of 2022[140]. - Cash outflow from operating activities totaled CNY 43,009,760.58, resulting in a net cash flow from operating activities of CNY -522,144.11, compared to CNY 2,040,966.55 in the first half of 2022[140]. - Cash inflow from investment activities was CNY 153,536,557.54, while cash outflow was CNY 207,289,239.22, leading to a net cash flow from investment activities of CNY -53,752,681.68[141]. - The ending cash and cash equivalents balance for the first half of 2023 was CNY 39,492,577.32, down from CNY 12,730,744.69 in the same period of 2022[141]. Research and Development - The company is focused on the research and development of industrial hoses and modified engineering plastics, with a dedicated R&D team of 21 members[40]. - Research and development expenses amounted to ¥4,475,833.05, an increase of 8.4% compared to ¥4,126,969.31 in the first half of 2022[135]. - The company emphasizes the need for continuous R&D to meet the evolving technical requirements of industrial hoses and modified engineering plastics[98]. Market and Industry Outlook - The industrial hose market is projected to grow from $12.8 billion in 2019 to $17.0 billion by 2024, with a compound annual growth rate (CAGR) of 5.8%[58]. - The oil industry is expected to see a continuous increase in demand for hoses due to stable growth and strategic national plans, with global oil consumption projected to reach 104 million barrels per day by 2026[58]. - The coal industry aims to maintain an annual production of 4.1 billion tons by the end of the 14th Five-Year Plan, which will drive the demand for hoses used in mining machinery[60]. - The engineering machinery sector is experiencing a year-on-year increase in production and demand, contributing to the growth of the industrial hose market[61]. - The automotive industry’s stable growth is expected to boost the demand for industrial hoses used in various vehicle systems[62]. Corporate Governance and Shareholder Information - The actual controllers hold 63.44% of the voting rights, which poses a risk of improper control over the company's strategic decisions[95]. - The largest shareholder, Chen Yu, holds 51.14% of the shares, totaling 37,706,640 shares[110]. - The total number of shares held by the top ten shareholders is 54,256,392, representing 73.58% of the total shares[110]. - The company reported a total of 73,737,616 shares outstanding, with 29.39% being unrestricted shares, an increase from 24.57%[107]. - The total shares held by the management team account for 57.56% of the total shares, totaling 42,452,592 shares[122]. Risk Factors - The company is facing market competition risks in the industrial hose industry, which has a high degree of marketization[94]. - The company faces significant risks related to market demand fluctuations, particularly from key clients in engineering machinery, automotive, and home appliance sectors[95]. - The company is at risk of losing important customer resources if it does not continuously optimize product quality and service levels[96]. - The company is facing risks related to the loss of core technical personnel and the potential leakage of core technologies, which could adversely affect its market competitiveness[98]. Environmental and Safety Compliance - The company emphasizes environmental protection as a key component of its sustainable development strategy, with no administrative penalties for violations during the reporting period[93]. - The company has not experienced any major safety incidents during the reporting period and has not faced administrative penalties related to safety production issues[92]. - The company has configured professional environmental protection equipment to handle wastewater, waste gas, and other waste materials[99]. Financial Reporting and Compliance - The financial statements are prepared based on the going concern assumption, indicating no significant issues affecting the company's ability to continue operations[166]. - The financial statements comply with the requirements of the Chinese Accounting Standards and reflect the financial position as of June 30, 2023[167]. - The company did not report any changes in accounting policies or prior period error corrections during the current period[146].

Financial Performance - The company's operating revenue for 2022 was ¥144,821,063.94, a decrease of 15.99% compared to ¥172,375,408.49 in 2021[30]. - The net profit attributable to shareholders for 2022 was ¥17,158,084.10, down 41.68% from ¥29,419,148.26 in 2021[30]. - The gross profit margin for 2022 was 26.77%, a decline from 33.00% in 2021[30]. - The net cash flow from operating activities for 2022 was ¥6,131,598.55, a significant drop of 76.13% from ¥25,692,042.73 in 2021[34]. - The weighted average return on equity based on net profit was 10.32% in 2022, down from 26.48% in 2021[30]. - The basic earnings per share for 2022 was ¥0.28, a decrease of 49.09% from ¥0.55 in 2021[30]. - The company's total revenue for the year was CNY 144,821,063.94, showing a slight decrease of 0.58% compared to the preliminary earnings report[37]. - The net profit attributable to shareholders was CNY 17,158,084.10, with a minimal difference of 0.06% from the earnings forecast[37]. - The total assets increased by 3.62% to CNY 267,236,342.81 compared to the preliminary report[37]. - The company reported a basic earnings per share of CNY 0.28, remaining unchanged from the preliminary earnings report[37]. Market and Industry Outlook - The industrial hose market is projected to grow from $12.8 billion in 2019 to $17.0 billion by 2024, with a compound annual growth rate of 5.80%[57]. - The demand for industrial hoses in the oil industry is expected to increase as China's oil production continues to grow, with 2021 production at 199.88 million tons, a 2.16% increase from 2020[58]. - The coal industry is projected to maintain stable growth, with 2021 coal production at 4.071 billion tons, a 4.34% increase from 2020[59]. - The engineering machinery sector saw excavator sales reach 342,800 units in 2021, a 466.45% increase since 2015, driving demand for hydraulic hoses[60]. - The outlook for the modified engineering plastics market is positive, driven by the growth of the home appliance and automotive industries in China[125]. - The modified plastics industry is benefiting from technological advancements and consumer upgrades, with significant applications in automotive parts, home appliances, medical, and rail transportation sectors[127]. Risks and Challenges - The company reported significant risks including intense market competition and potential declines in profitability if production scale and R&D investment do not improve[11]. - The company faces risks related to the loss of key customer resources if it fails to continuously improve product quality and service[12]. - The company's actual controllers hold a combined 63.44% of voting rights, which poses risks of improper control over company decisions[12]. - The company recognizes the risk of market competition and the need for continuous investment in R&D to maintain product quality and profitability[137]. - Company faces significant operational risks due to potential declines in downstream market demand from key clients in engineering machinery, automotive, home appliances, and wind power sectors[139]. Research and Development - The company has developed a comprehensive R&D system with 20 R&D personnel and 7 core technical staff dedicated to product innovation[48]. - The company is committed to technological innovation and sustainable development through product R&D upgrades and the establishment of a green production system[118]. - The company has a total of 28 patents, with 4 being invention patents, an increase from 27 patents in the previous year[107]. - Research and development (R&D) expenses amounted to ¥8,143,157.49, accounting for 5.62% of operating revenue, compared to 5.15% in the previous year[104]. - The company has completed the development of a new energy vehicle hydraulic brake pipe, which is expected to increase revenue in the bicycle braking sector[109]. Corporate Governance and Compliance - The actual controllers hold 63.44% of voting rights, posing risks of improper control over company strategies and profit distribution[142]. - The company aims to enhance governance mechanisms and ensure operational independence to protect minority shareholders[143]. - The company has established safety production management systems and internal control measures to enhance employee safety awareness and accident prevention capabilities[163]. - The company has no major related party transactions or external guarantees[167]. - The company is actively fulfilling its commitments regarding share repurchase and price stabilization measures[169]. Financial Management and Investment - The company's cash and cash equivalents increased by 292.53% to ¥104,592,207.54, primarily due to funds raised from a public stock offering[67]. - The net cash flow from investing activities decreased by 85.35% to -¥26,041,005.65, mainly due to ¥15,000,000 of raised funds being invested in financial products that have not yet matured[91]. - The total investment amount for the reporting period was ¥4,487,270.26, representing a 41.85% increase compared to the previous year[92]. - The company will implement advanced quality management systems to improve manufacturing, R&D, and marketing capabilities sustainably[131]. - The company commits to measures ensuring that directors and senior management fulfill stock purchase obligations, with penalties for non-compliance[188].

Financial Performance - Net profit attributable to shareholders for Q1 2023 was CNY 5,184,913.31, representing a decrease of 11.36% year-over-year[10] - The company's total revenue for Q1 2023 was CNY 41,308,114.55, a marginal increase of 0.20% compared to the same period last year[10] - Total operating revenue for Q1 2023 was CNY 41,308,114.55, a slight increase of 0.2% compared to CNY 41,225,825.61 in Q1 2022[37] - Total operating costs increased to CNY 36,032,596.87 in Q1 2023, up 3.5% from CNY 34,801,206.17 in Q1 2022[37] - Net profit for Q1 2023 was CNY 5,184,913.31, a decrease of 11.3% from CNY 5,849,631.05 in Q1 2022[38] - Basic and diluted earnings per share for Q1 2023 were both CNY 0.07, down from CNY 0.11 in Q1 2022[39] - Operating profit for Q1 2023 was CNY 5,809,432.46, down 10.6% from CNY 6,501,101.06 in Q1 2022[37] - Total profit for Q1 2023 was CNY 5,858,742.75, a decrease of 10.9% from CNY 6,575,573.89 in Q1 2022[38] Cash Flow and Liquidity - Operating cash flow for the period was negative CNY 8,107,994.72, a decline of 314.72% compared to the same period last year[12] - The net cash flow from operating activities was -8,107,994.72 yuan for Q1 2023, compared to -1,955,066.80 yuan in Q1 2022, indicating a significant decline in operational performance[45] - The company reported a total cash inflow from operating activities of 15,560,634.47 yuan in Q1 2023, down from 19,578,462.13 yuan in Q1 2022[45] - Cash received from sales of goods and services in Q1 2023 was CNY 15,457,913.15, down from CNY 18,638,759.09 in Q1 2022[44] - Total cash inflow from investment activities was 89,194,134.25 yuan, while cash outflow was 121,856,101.85 yuan, resulting in a net cash flow from investment activities of -32,661,967.60 yuan for Q1 2023[46] - The net cash flow from financing activities was -104,400.00 yuan, reflecting a decrease in financing activities compared to the previous year[46] - The total cash and cash equivalents at the end of Q1 2023 were 63,608,387.69 yuan, down from 104,592,207.54 yuan at the beginning of the period[46] - The company’s cash and cash equivalents decreased by 40,983,819.85 yuan in Q1 2023, compared to a decrease of 5,585,671.78 yuan in Q1 2022[46] Assets and Liabilities - Total assets as of March 31, 2023, were CNY 268,083,693.83, a slight increase of 0.32% compared to the end of 2022[10] - Total current assets amounted to ¥222,855,701.68 as of March 31, 2023, slightly up from ¥221,743,495.59 at the end of 2022, reflecting a marginal increase of about 0.5%[30] - Current liabilities decreased to CNY 30,145,744.13 from CNY 34,480,141.29, a reduction of 12.87%[32] - Total liabilities decreased to CNY 30,346,432.38 from CNY 34,683,994.67, a decline of 12.14%[32] - Owner's equity increased to CNY 237,737,261.45 from CNY 232,552,348.14, representing a growth of 2.00%[32] - Total liabilities and owner's equity totaled CNY 268,083,693.83, consistent with total assets, indicating a balanced financial position[32] Shareholder Information - The number of ordinary shareholders as of the report date was 7,293[21] - The company has a total of 53,899,250 shares outstanding, with the top ten shareholders holding 73.10% of the shares[23] - Major shareholder Chen Yu holds 51.14% of the shares, while Zhuhai Hengqin New District Mingshan Investment Consulting Partnership holds 7.03%[23] Operational Metrics - The company's accounts receivable decreased to ¥48,617,181.45 from ¥64,460,916.41, representing a decline of approximately 24.6%[30] - The company holds trading financial assets of ¥47,000,000.00 as of March 31, 2023, significantly up from ¥15,000,000.00 at the end of 2022, marking an increase of 213.3%[30] - Inventory increased to ¥23,655,301.20 from ¥21,986,230.58, which is an increase of about 7.6%[30] - Cash outflow for purchasing goods and services was 12,673,016.63 yuan in Q1 2023, compared to 10,150,943.84 yuan in Q1 2022, indicating increased operational costs[45] - The company experienced a cash outflow of 5,990,330.34 yuan for employee payments in Q1 2023, slightly down from 6,712,315.58 yuan in Q1 2022[45] Other Information - There were no significant legal disputes, external guarantees, or related party transactions reported during the period[26] - The company has not initiated any share buyback programs or employee incentive plans during the reporting period[26] - The company has committed to previously disclosed promises and has fulfilled them in a timely manner[26] - Financial expenses increased by 88.70% year-over-year, primarily due to increased exchange rate losses[14] - The impact of exchange rate fluctuations on cash and cash equivalents was -109,457.53 yuan in Q1 2023, compared to -39,086.64 yuan in Q1 2022[46] - Research and development expenses rose to CNY 2,014,688.34 in Q1 2023, an increase of 6.3% compared to CNY 1,895,964.82 in Q1 2022[37] - Other income increased to CNY 23,578.63 in Q1 2023, compared to CNY 8,704.41 in Q1 2022, marking a significant rise[37]

Financial Performance - The company's total revenue for 2022 is expected to be CNY 145.66 million, a decrease of 15.50% compared to the previous year[5] - The net profit attributable to shareholders is projected to be CNY 17.17 million, down 41.64% year-on-year[5] - Basic earnings per share are expected to be CNY 0.28, reflecting a decline of 49.09% from the prior year[5] Assets and Equity - Total assets at the end of the reporting period are estimated to be CNY 257.90 million, an increase of 57.73% year-on-year[5] - Shareholders' equity is projected to rise to CNY 232.71 million, marking a 91.56% increase compared to the beginning of the period[5] Revenue Decline Factors - The decline in revenue is primarily attributed to the impact of the pandemic on the domestic construction and industrial spraying machine sectors[6] - The decrease in net profit is mainly due to a revenue drop of CNY 26.71 million, with operating costs decreasing by CNY 12.17 million[6] - Rising raw material prices and intensified market competition have led to reduced product gross margins[6] Management Strategies - The company has implemented refined management strategies to enhance production efficiency and product quality despite the challenges faced[5] Financial Caution - The financial data presented is preliminary and has not been audited, cautioning investors to be aware of potential risks[7]

Corporate Actions and Financial Performance - The company received approval from the China Securities Regulatory Commission on June 22, 2022, to publicly issue shares to unspecified qualified investors, and successfully listed on the Beijing Stock Exchange on July 22, 2022[5]. - A cash dividend of 2.00 CNY per 10 shares was distributed in May 2022[5]. - The company's operating revenue for the current period is ¥77,558,882.06, a decrease of 18.90% compared to the same period last year[31]. - The net profit attributable to shareholders of the listed company is ¥10,515,027.63, reflecting a decline of 38.64% year-on-year[31]. - The gross profit margin has decreased to 27.88% from 34.33% in the previous year[31]. - The total assets at the end of the current period amount to ¥155,771,885.50, down 4.73% from the previous year[32]. - The total liabilities have decreased by 18.04% to ¥34,441,022.84 compared to the previous year[32]. - The company's weighted average return on net assets is 8.31%, down from 15.88% in the previous year[31]. - The current ratio has improved to 3.34 from 2.99 in the previous year[32]. - The net cash flow from operating activities decreased by 86.73% to ¥2,040,966.55 compared to ¥15,384,084.50 in the same period last year[33]. - The company's cash and cash equivalents decreased by 52.22% to CNY 12,730,744.69, largely due to cash dividends paid and increased cash outflows for goods and services[62]. - The company reported a net cash outflow from financing activities of CNY 10,665,043.20, an increase of 18.58% compared to the previous period[75]. Market Risks and Competition - The company faces significant market competition risks due to the low concentration in the industrial hose industry, which may impact profitability if production scale and R&D investment do not improve[13]. - The company is exposed to market demand fluctuation risks, as its performance is closely tied to the economic conditions of key clients in various industries[13]. - The company has a high reliance on raw materials, and price fluctuations in nylon, polyurethane, and other materials could significantly affect production costs[14]. - The company’s rapid expansion may lead to management risks if organizational structure and management practices do not adapt accordingly[14]. - The company faces market competition risks due to the high degree of marketization and low concentration in the industrial hose industry[80]. Research and Development - The company plans to continue investing in technology upgrades and new product development to meet evolving market demands[30]. - The company plans to expand its application of modified engineering plastics in the home appliance and automotive industries, which are projected to account for 37% and 23% of the market, respectively[59]. - The company faces R&D risks as it must continuously upgrade technology and develop new products to meet market demands[104]. - The company holds 28 patents, including 4 invention patents and 24 utility model patents, with 2 additional patents pending[38]. Quality Management and Production Capacity - The company emphasizes quality management with a three-level inspection control system throughout the production process[47]. - The company has improved its quality management system through continuous training, resulting in enhanced employee quality awareness and capabilities[48]. - The company upgraded its main extrusion equipment, significantly increasing production capacity and product quality[48]. - The procurement quality of raw materials has improved, with the acceptance rate of incoming products meeting company targets[49]. - The company is focusing on continuous improvement in production environment and inspection control to maintain stable product quality[49]. Shareholder Commitments and Corporate Governance - The actual controller and major shareholders are currently fulfilling commitments related to non-competition and share lock-up since November 26, 2021[115]. - The company has commitments in place to stabilize its stock price and ensure timely returns to shareholders, which are currently being fulfilled[116]. - The company and its major shareholders have committed to not transferring shares for 12 months post-listing, with specific conditions for any future share reductions[121]. - The company will ensure that its profit distribution proposals are reviewed and approved by independent directors and the supervisory committee before being presented to the shareholders' meeting[160]. - The company commits to accelerate the investment progress of fundraising projects to enhance future earnings and protect minority shareholders' interests[141]. Financial Health and Asset Management - Total asset growth rate declined by 4.73%, down from 11.07% in the previous year[34]. - Fixed assets increased by 129.44% to CNY 32,707,061.09, primarily due to the completion of the new third-phase factory[61]. - Accounts receivable rose by 16.36% to CNY 51,257,617.85, attributed to delayed payments from downstream customers due to the pandemic[63]. - The total number of ordinary shares at the end of the period is 53,325,216, with 97.64% being limited sale shares[172]. - The largest shareholder, Chen Yu, holds 37,706,640 shares, representing 70.71% of the total shares[175]. - The company has a total of 52,064,206 shares held by the top ten shareholders, accounting for 97.62% of the total shares[175].