Financial Performance - The company's operating revenue for the first half of 2023 was ¥93,163,072.44, representing a 12.70% increase compared to ¥82,662,236.46 in the same period last year[25]. - The net profit attributable to shareholders of the listed company reached ¥9,691,887.18, a 39.56% increase from ¥6,944,525.26 in the previous year[25]. - The gross profit margin improved to 36.97%, up from 36.34% year-on-year[25]. - The basic earnings per share increased to 0.17, up 39.56% from 0.12 in the previous year[25]. - Operating profit increased by 20.88% to CNY 8,628,402.73, compared to CNY 7,138,050.21 in the same period last year[48]. - Net profit for the first half of 2023 reached CNY 9,691,887.18, an increase of 39.9% compared to CNY 6,944,525.26 in the same period of 2022[126]. - Total operating revenue for the first half of 2023 reached ¥93,163,072.44, an increase of 12.9% compared to ¥82,662,236.46 in the same period of 2022[125]. Assets and Liabilities - The total assets at the end of the reporting period were ¥380,716,507.91, a decrease of 3.57% from ¥394,805,240.46 at the end of the previous year[26]. - The total liabilities decreased by 12.38% to ¥111,569,064.13 from ¥127,327,854.75 year-on-year[26]. - Cash and cash equivalents decreased by 11.25% to CNY 76.32 million, accounting for 20.05% of total assets[44]. - Accounts receivable decreased by 8.98% to CNY 65.98 million, representing 17.33% of total assets[44]. - Inventory increased by 6.02% to CNY 75.28 million, making up 19.77% of total assets[44]. - The company's net accounts receivable at the end of the reporting period was 65.98 million, accounting for 22.07% of current assets, indicating a high level of accounts receivable[64]. Cash Flow - The net cash flow from operating activities significantly decreased by 87.58% to ¥2,745,271.58 from ¥22,111,027.87 in the same period last year[26]. - Cash flow from operating activities generated a net amount of CNY 2,745,271.58, down 87.6% from CNY 22,111,027.87 in the first half of 2022[129]. - The company's cash flow from investment activities improved by 94.65%, with a net cash flow of CNY -370,355.00 compared to CNY -6,920,142.94 in the previous year[58]. Research and Development - The company received a national patent for an IoT-based intelligent electric valve body and control system during the reporting period[5]. - The company has established a complete R&D, procurement, production, quality inspection, and sales system[31]. - Research and development expenses decreased by 13.58% to CNY 3,315,329.97, down from CNY 3,836,304.18 year-on-year[47]. - The company plans to enhance its research and development capabilities to ensure technological advantages in the industry and reduce import substitution risks[69]. Market and Competition - The increase in revenue is attributed to market recovery post-pandemic and growth in intelligent product sales orders[33]. - The domestic market for industrial automation instruments is expected to grow as local manufacturers improve technology and reduce reliance on imports[40]. - The company is facing risks related to market competition, which could lead to fluctuations in performance if it fails to maintain its technological advantages[64]. Shareholder and Equity Information - The company distributed a cash dividend of ¥1.50 per 10 shares based on a total share capital of 58,590,280 shares[5]. - The total number of ordinary shares is 58,590,280, with a decrease in unrestricted shares from 39,663,812 to 38,883,811, a change of 780,001 shares[101]. - The largest shareholder, Du Faping, holds 16,279,091 shares, representing 27.78% of total shares[104]. - The total equity attributable to the parent company's owners at the end of the current period is CNY 269,147,443.78, an increase from CNY 267,477,385.71 at the end of the previous period, reflecting a growth of approximately 0.25%[130]. Legal Matters - The company has reported a total of 3,178,678.99 yuan in litigation as a plaintiff, accounting for 1.18% of the net assets at the end of the reporting period[75]. - The company is involved in a legal case against Shanghai Zhonghu Valve (Group) Co., Ltd. for unpaid goods amounting to CNY 235,524, with a settlement reached for CNY 180,000 to be paid in installments by July 31, 2024[87]. - There were no significant litigation or arbitration matters unresolved during the reporting period[88]. Risk Management - The company acknowledges the potential impact of natural disasters and other uncontrollable events on its operations and profitability[68]. - The company is committed to improving its internal control processes and governance structures to mitigate management risks associated with organizational growth[68]. - The company has established a strict quality management system to mitigate risks associated with product quality control[66]. Future Outlook - Future outlook includes plans for market expansion and potential new product launches to drive revenue growth in the upcoming quarters[125]. - The company aims to maintain a steady pace of 6-8 new nuclear power units approved for construction annually during the 14th Five-Year Plan period[41]. - The company plans to purchase approximately 79 acres of industrial land to support its production needs, as disclosed on May 19, 2022[67].

证券代码：871396 证券简称：常辅股份 公告编号：2023-053 常州电站辅机股份有限公司 常州电站辅机股份有限公司 关于变更持续督导保荐代表人的公告 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。 常州电站辅机股份有限公司（以下简称"公司"）于 2023 年 8 月 10 日收到 保荐机构东北证券股份有限公司（以下简称"东北证券"）《关于变更常州电站辅 机股份有限公司持续督导之保荐代表人的通知》。原保荐代表人张旭东先生因个 人原因，无法继续从事对公司的持续督导工作，为保证持续督导工作的有序进行， 东北证券指定程继光先生接替张旭东先生担任公司持续督导期间的保荐代表人， 继续履行对公司的持续督导职责。 本次保荐代表人变更不影响东北证券对公司持续督导工作。本次保荐代表人 变更后，东北证券负责公司持续督导工作的保荐代表人为程继光先生、张兴云先 生。 特此公告。 附件：程继光先生简历 董事会 2023 年 8 月 11 日 附件：程继光先生简历 程继光，男，经济学硕士，保荐代表人，中国注册会计师非执业会员 ...

Financial Performance - Operating revenue for Q1 2023 was CNY 39,477,947.31, representing a 4.26% increase from CNY 37,865,897.96 in Q1 2022[9] - Net profit attributable to shareholders for Q1 2023 was CNY 3,653,230.94, up 25.39% from CNY 2,913,434.33 in the same period last year[9] - Basic earnings per share for Q1 2023 increased to CNY 0.0624, a rise of 25.55% compared to CNY 0.0497 in Q1 2022[10] - Operating profit for Q1 2023 was CNY 2,112,100.00, a decrease of 23.24% compared to the previous year[12] - Non-operating income for Q1 2023 increased by 327.80% to CNY 2,081,570.36, primarily due to a listing reward of CNY 1,200,000.00 received during the period[12] - Total operating costs for Q1 2023 were 37,170,909.59, up from 35,505,131.08 in Q1 2022, reflecting a year-over-year increase of 4.7%[68] - The company reported a significant increase in other income, which reached 2,081,570.36 in Q1 2023, compared to 486,570.60 in Q1 2022[70] Assets and Liabilities - Total assets as of March 31, 2023, were CNY 377,052,474.90, a decrease of 4.50% compared to CNY 394,805,240.46 at the end of 2022[9] - The company's asset-liability ratio decreased to 27.99% as of March 31, 2023, down from 32.25% at the end of 2022[9] - Total liabilities decreased to 105,531,856.44 in Q1 2023 from 127,327,854.75 in Q1 2022, a reduction of 17.1%[66] - Current assets totaled 294,286,227.43 in Q1 2023, down from 310,835,536.58 in Q1 2022, a decrease of 5.4%[65] - Inventory increased to 75,066,556.11 in Q1 2023 from 71,006,752.75 in Q1 2022, reflecting a growth of 5.4%[65] Cash Flow - The net cash flow from operating activities for Q1 2023 was -CNY 4,111,294.26, a decline of 230.50% from CNY 3,150,458.40 in Q1 2022[10] - Operating cash flow for Q1 2023 was negative at -4,111,294.26 CNY, compared to a positive 3,150,458.40 CNY in Q1 2022, indicating a decline in operational efficiency[72] - Total cash inflow from operating activities was 54,577,960.00 CNY, slightly up from 54,167,286.34 CNY in the same period last year[72] - Cash outflow from operating activities increased to 58,689,254.26 CNY, compared to 51,016,827.94 CNY in Q1 2022, reflecting higher operational costs[73] - The ending cash and cash equivalents balance for Q1 2023 was 65,416,736.83 CNY, down from 74,944,033.11 CNY at the end of Q1 2022[73] Shareholder Information - The total number of ordinary shareholders as of the report date was 2,261[17] - The largest shareholder, Du Faping, holds 27.78% of the shares, totaling 16,279,091 shares[18] - The second largest shareholder, China Nuclear Su Valve Technology Co., Ltd., holds 8.94% of the shares, totaling 5,236,977 shares[18] - The total shares held by the top ten shareholders account for 63.09% of the company's total shares, amounting to 36,968,800 shares[19] Legal Matters - The company is involved in a lawsuit with a total claim amount of 3,178,678.99 yuan, which represents 1.17% of the company's net assets[23] - The company has successfully obtained a court ruling requiring the defendants to cease trademark infringement and pay a total of 560,000 yuan in damages[25] - The company is involved in ongoing legal disputes regarding trademark registrations, with appeals filed against unfavorable decisions in 2023[29] Corporate Governance - The company has no external guarantees or loans provided during the reporting period[21] - There are no significant related party transactions or other major events reported during the period[22] - The company has not initiated any share repurchase plans or employee incentive measures[22] - The company has committed to maintaining the integrity of its financial reporting and will face legal consequences for any inaccuracies[55] Future Commitments - The company will prioritize cash dividends, distributing at least 10% of the annual distributable profit in cash, and at least 30% of the average annual distributable profit over any three consecutive years[40] - The company will review its shareholder return plan every three years, considering the execution of the previous plan and feedback from shareholders, especially minority shareholders[40] - The company commits to linking the compensation system of directors and senior management to the execution of measures to compensate for dilution of immediate returns[38]

Awards and Recognition - In 2022, the company received the third prize in Jiangsu Province's Science and Technology Awards for its key technology research and industrialization project on third-generation nuclear power station valves[6]. - The company has been recognized as a provincial-level "specialized, refined, distinctive, and innovative" enterprise[53]. - The company received the Jiangsu Province Science and Technology Award for its project on key technologies for nuclear-grade valve electric devices, highlighting its innovation[104]. Financial Performance - The company's operating revenue for 2022 was CNY 207,538,723.75, a decrease of 8.78% compared to CNY 227,523,358.24 in 2021[35]. - The net profit attributable to shareholders for 2022 was CNY 24,704,778.13, down 19.03% from CNY 30,511,712.56 in 2021[35]. - The gross profit margin for 2022 was 36.86%, slightly down from 37.49% in 2021[35]. - The total assets at the end of 2022 amounted to CNY 394,805,240.46, reflecting a growth of 4.94% from CNY 376,222,340.31 in 2021[37]. - The total liabilities at the end of 2022 were CNY 127,327,854.75, an increase of 3.51% from CNY 123,008,608.35 in 2021[37]. - The net assets attributable to shareholders increased to CNY 267,477,385.71, up 5.63% from CNY 253,213,731.96 in 2021[37]. - The cash flow from operating activities for 2022 was CNY 32,129,131.36, a significant increase of 131.24% compared to CNY 13,894,046.59 in 2021[39]. - The basic earnings per share for 2022 was CNY 0.4217, down 19.03% from CNY 0.5208 in 2021[35]. - The company's inventory turnover rate for 2022 was 1.92, down from 2.32 in 2021[39]. - The company's total revenue for 2022 was ¥207,538,723.75, a decrease of 8.78% compared to ¥227,523,358.24 in 2021[72]. - The gross profit margin for 2022 was 36.86%, down from 37.49% in the previous year[72]. - Net profit for 2022 was ¥24,704,778.13, representing a decline of 19.03% from ¥30,511,712.56 in 2021[72]. - Cash and cash equivalents at the end of 2022 were ¥85,995,965.29, a decrease of 26.49% from ¥116,986,234.89 at the end of 2021[67]. - Accounts receivable increased by 6.70% to ¥72,492,363.27 in 2022 from ¥67,937,927.66 in 2021[67]. - Inventory rose by 8.89% to ¥71,006,752.75 in 2022, compared to ¥65,209,300.07 in 2021[67]. - The company's financial expenses decreased to -¥41,434.73 in 2022, an increase of 79.39% compared to -¥201,024.77 in 2021[72]. Research and Development - The company holds 47 patents, including 5 invention patents, indicating a strong focus on intellectual property and innovation[16]. - The company has completed the product development of an intelligent IoT electric actuator, which is expected to enhance market competitiveness and expand business opportunities[101]. - The company successfully developed a smart valve for oil and gas pipelines, which is aimed at the long-distance transportation market, enhancing its R&D capabilities[101]. - The company is focusing on the localization of key nuclear power equipment, with several projects in various stages of development aimed at enhancing its market presence[102]. - The company aims to enhance innovation capabilities by developing valve electric actuators and nuclear-grade three-phase asynchronous motors for various nuclear power units, while also upgrading ordinary products in the context of the industrial Internet of Things[118]. - The company is advancing its research on smart IoT electric actuators in line with the national "14th Five-Year" intelligent manufacturing development plan, aiming to penetrate new market scenarios[105]. - The company's R&D expenditure amounted to ¥9,679,486.37, representing 4.66% of total revenue, an increase from 4.05% in the previous period[100]. - The proportion of R&D personnel in the total workforce decreased from 12.14% to 11.66%, with a total of 33 R&D staff at the end of the period[98]. Market and Industry Trends - The demand for industrial automation instruments in key industries such as nuclear power, petrochemicals, metallurgy, and electricity is significant, with a high proportion of fixed asset investment driving the demand for valve actuators[63]. - The industry faces high entry barriers due to production licensing requirements, technological barriers, and the need for qualified supplier status, particularly in high-end valve markets[59]. - The trend towards "Industry 4.0" emphasizes the need for smart factories and production systems, which will increase the demand for industrial automation control devices, including valve actuators[62]. - The domestic market for industrial automation products is currently dominated by low-tech, low-reliability products, with a significant reliance on imports for high-end applications[63]. - The nuclear energy sector is projected to see a significant increase in installed capacity, with an expected annual approval of 6-8 nuclear power units during the 14th Five-Year Plan period[64]. - The company is positioned to benefit from the "Industry 4.0" trend, which emphasizes the need for industrial automation and smart production systems, leading to increased demand for electric actuators[113]. - The company is targeting international market expansion, initially focusing on the Middle East, Russia, and ASEAN regions[122]. Risks and Challenges - The company faces risks related to market competition, technological advancements, and potential fluctuations in policy support affecting its operational performance[15]. - The company faces risks related to fixed asset depreciation, which is expected to increase as the scale of operations expands[18]. - The company is exposed to risks from changes in national nuclear power policies, which could affect future orders and performance[19]. - The company is at risk of management challenges due to organizational complexity from expansion, which could hinder operational efficiency[18]. - The company acknowledges the potential impact of market environment changes on its fundraising projects, which could affect future profitability due to increased fixed asset depreciation[139]. - The company is exposed to risks from natural disasters and other force majeure events that could impact its operations and profitability, and is optimizing its capital structure to mitigate these risks[143]. - The company faces risks related to technology and product development due to the rapidly changing market demands and technological advancements[130]. - The company is addressing the risk of key technical personnel turnover by providing more employee incentives to retain talent[132]. Shareholder and Corporate Governance - The company commits to distributing annual dividends in cash if the distributable profit is positive and cash flow is sufficient, ensuring it does not affect ongoing operations[179]. - The company aims to distribute at least 10% of the annual distributable profit in cash and at least 30% of the average annual distributable profit over any three consecutive years[180]. - The company will review its shareholder return plan every three years, considering various factors and shareholder opinions before making adjustments[180]. - The company has ongoing commitments to ensure the accuracy and integrity of information provided, with specific measures in place to prevent the dilution of immediate returns[177]. - The company is in compliance with all regulatory requirements regarding share issuance and commitments made to investors[176]. - The company has established a framework to link executive compensation to the execution of return measures, ensuring accountability among management[177]. - The company will publicly disclose reasons for not implementing stock price stabilization measures if necessary[189]. Legal Matters - The company has ongoing litigation with a cumulative amount of approximately RMB 3.18 million, representing 1.19% of its net assets[156]. - The company is currently involved in multiple trademark disputes, with ongoing litigation regarding the revocation of certain trademarks in the Beijing Intellectual Property Court[161]. - The company has a long-standing contract with Shanghai Zhonghu Valve (Group) Co., Ltd., seeking 235,524 RMB in unpaid dues, with the case currently under review by the Shanghai Qingpu District Court[164].

Financial Performance - The company's operating revenue for 2022 is approximately ¥207.54 million, a decrease of 8.78% compared to the previous year[3] - The net profit attributable to shareholders is approximately ¥24.97 million, down 18.17% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses is approximately ¥20.91 million, a decline of 22.86% compared to the previous year[3] - Basic earnings per share are estimated at ¥0.4262, reflecting an 18.16% decrease year-on-year[3] Assets and Equity - Total assets at the end of the reporting period are approximately ¥394.81 million, an increase of 4.94% from the beginning of the year[5] - Shareholders' equity attributable to the company is approximately ¥267.53 million, up 5.65% year-on-year[5] - The number of shares increased to 58,590,280, representing a growth of 10.00%[3] Market Conditions - The decline in revenue and profit is primarily attributed to market competition and the impact of COVID-19, which affected sales orders for both regular and smart products[6] Government Support - Government subsidies recognized in the current period increased by ¥843,452.88 compared to the previous year[6] Caution for Investors - Investors are advised to exercise caution as the financial data is preliminary and has not been audited[7]

Financial Performance - Operating revenue for the first nine months of 2022 was RMB 135,251,191.46, representing a decline of 21.54% year-on-year[15]. - Net profit attributable to shareholders for the same period was RMB 11,951,250.10, down 45.95% compared to the previous year[15]. - Basic earnings per share for the first nine months of 2022 were RMB 0.2040, a decrease of 45.95% from the previous year[15]. - In Q3 2022, operating revenue was RMB 52,588,955.00, down 25.31% from RMB 70,408,025.79 in Q3 2021[16]. - Net profit attributable to shareholders in Q3 2022 was RMB 5,006,724.84, a decrease of 49.03% compared to RMB 9,823,420.08 in Q3 2021[16]. - The net profit for the year-to-date was ¥11,951,250.10, a decrease of ¥10,161,710.04 or 45.95% year-on-year, primarily due to a decrease in operating revenue[19]. - Total operating revenue for Q3 2022 was ¥52,588,955, a decrease of 25.4% compared to ¥70,408,025.79 in Q3 2021[86]. - Net profit for Q3 2022 was ¥5,006,724.84, a decline of 49.0% from ¥9,823,420.08 in Q3 2021[88]. - Total profit of ¥5,531,281.83 for Q3 2022, down 53.0% from ¥11,747,709.99 in Q3 2021[88]. Cash Flow - The net cash flow from operating activities increased significantly to RMB 24,158,815.70, a rise of 149.91% year-on-year[15]. - The net cash flow from operating activities for the year-to-date was ¥24,158,815.70, an increase of ¥14,491,965.10 or 149.91% compared to the same period last year, mainly due to a decrease in cash paid for goods and services[20]. - Operating cash inflow for the first nine months of 2022 was $171.84 million, a decrease from $180.12 million in the same period of 2021, representing a decline of approximately 4.3%[91]. - Net cash flow from operating activities increased significantly to $24.16 million in 2022 from $9.67 million in 2021, marking a growth of approximately 149.5%[92]. - Cash paid for operating activities decreased to $147.68 million in 2022 from $170.46 million in 2021, a reduction of approximately 13.4%[92]. Assets and Liabilities - Total assets as of September 30, 2022, amounted to RMB 371,883,961.18, a decrease of 1.15% compared to the end of the previous year[15]. - The asset-liability ratio for both the parent company and consolidated statements stood at 31.56% as of September 30, 2022, a slight improvement from 32.70% at the end of the previous year[15]. - Total liabilities as of September 30, 2022, were RMB 103,333,424.19, down from RMB 107,954,564.14 at the end of 2021[83]. - The company has pledged assets totaling RMB 48,677,709.32, representing 13.09% of total assets[78]. - Total liabilities increased to ¥117,371,757.32 in the latest report from ¥123,008,608.35 in the previous period[84]. - Total equity rose slightly to ¥254,512,203.86 from ¥253,213,731.96, showing a marginal increase of 0.5%[84]. Shareholder Information - The total number of ordinary shares at the end of the reporting period was 58,590,280, with a basic earnings per share of 0.3744, adjusted from 0.4152 at the end of the previous year[23]. - The largest shareholder, Du Faping, holds 16,279,091 shares, representing 27.78% of the total shares[27]. - The total shares held by the top ten shareholders amount to 36,968,300, which is 63.09% of the total shares[28]. - The company commits to distributing at least 10% of the annual distributable profit in cash and at least 30% of the average annual distributable profit over any three consecutive fiscal years[55]. - The company will review its shareholder return plan every three years, considering various factors and shareholder opinions, especially from minority shareholders[56]. Legal Matters - The company is involved in a lawsuit with a claimed amount of 3,178,678.99 yuan, which constitutes 1.25% of the net assets at the end of the reporting period[32]. - The court ruled that the defendants must cease infringing on the company's trademarks and pay a total of 560,000 yuan in damages[34]. - The company is involved in ongoing legal proceedings regarding trademark disputes, with multiple cases filed in the Beijing Intellectual Property Court[39][40]. - The company has been pursuing overdue payments from Shanghai Zhonghu Valve Group Co., Ltd., amounting to CNY 235,524.00, with ongoing litigation in the Changzhou Wujin District People's Court[41]. Investment and Financial Strategy - The company has invested CNY 358,000,000.00 in low-risk financial products to enhance fund utilization efficiency and increase returns for shareholders[46]. - The company’s strategy includes investing in high-safety, liquid short-term low-risk financial products to optimize capital use[47]. - The company has committed to repurchase shares if any false statements or omissions are identified in the issuance documents[70]. Research and Development - Research and development expenses for Q3 2022 were ¥2,759,763.63, up 52.3% from ¥1,809,504.03 in Q3 2021, indicating a focus on innovation[87].

Awards and Recognition - The company received the third prize in Jiangsu Province's Science and Technology Awards for its project on key technology research and industrialization of electric devices for nuclear power station valves[3]. - The company is recognized as a "High-tech Enterprise" and has received provincial-level recognition for its specialized and innovative capabilities[35]. Financial Performance - The company's operating revenue for the reporting period was ¥82,662,236.46, a decrease of 18.95% compared to the same period last year[27]. - The net profit attributable to shareholders was ¥6,944,525.26, reflecting a decline of 43.49% year-on-year[27]. - The gross profit margin decreased to 36.34% from 37.76% in the previous year[27]. - The weighted average return on net assets for the first half of 2022 was 2.72%, down from 5.18% in the first half of 2021 and 6.70% in the first half of 2020[13]. - The total assets decreased by 5.82% to ¥354,336,323.05 compared to the previous year[31]. - The total liabilities decreased by 14.78% to ¥104,830,844.03[31]. - The company's net cash flow from operating activities increased significantly by 353.77% to ¥22,111,027.87[29]. Assets and Liabilities - As of June 30, 2022, the company's accounts receivable net amount was RMB 57.14 million, accounting for 18.29% of current assets, with 88.26% of accounts receivable aged within one year[10]. - The company's inventory value at the end of the reporting period was RMB 67.39 million, representing 19.02% of total assets[11]. - Cash and cash equivalents accounted for 32.77% of total assets, slightly increasing from 31.09% in the previous year[49]. - Total current assets decreased from ¥337,901,988.54 to ¥312,397,281.52, a decline of about 7.56%[157]. - Total non-current assets increased from ¥38,320,351.77 to ¥41,939,041.53, an increase of approximately 9.67%[158]. Research and Development - The company holds 52 patents, including 5 invention patents and 45 utility model patents, as well as 3 software copyrights as of June 30, 2022[11]. - Research and development expenses increased by 6.05% to ¥3,836,304.18, representing 4.64% of total revenue[54]. - The company is committed to improving its research and development capabilities to maintain a technological edge in the nuclear power sector[88]. Market and Competition Risks - The company faces risks related to market competition, technological advancements, and potential fluctuations in nuclear power project approvals[10]. - The company is at risk of losing key technical personnel due to increasing competition for high-end talent in the industry[11]. - The company faces risks related to macroeconomic fluctuations and reliance on low-end market products, necessitating a focus on technological innovation[47]. Quality Management - The company has established a strict quality management system, with no major product quality incidents reported during the period[11]. - The company is subject to risks associated with nuclear power product quality management, as any quality issues could lead to the revocation of necessary licenses, impacting future business expansion[14]. Shareholder and Dividend Information - The company announced a dividend distribution plan, granting 1 additional share for every 10 shares held and a cash dividend of RMB 2.00 for every 10 shares, effective from June 17, 2022[3]. - The company commits to prioritize cash dividends when the distributable profit is positive and cash flow is sufficient, ensuring it does not affect ongoing operations[109]. - The company aims to distribute at least 10% of the annual distributable profit in cash and at least 30% of the average annual distributable profit over any three consecutive years[110]. Legal Matters - The company has faced a lawsuit with a total claim amount of RMB 3,178,678.99, which accounts for 1.27% of the company's net assets[94]. - The company successfully obtained a court ruling requiring the defendants to cease trademark infringement and pay a total of RMB 560,000 in damages[96]. - The company has faced various legal challenges, including trademark disputes, which are still ongoing as of the report date[97]. Future Plans and Investments - The company plans to enhance product development and service innovation, with a focus on continuous R&D investment to maintain industry leadership[70]. - The company plans to purchase approximately 79 acres of industrial land to mitigate potential impacts from future land acquisition by the government[81]. - The company plans to enhance the production capacity of smart valve actuators and nuclear power products over a period of 24 months, with equipment procurement and installation expected to occur from T+1 to T+21 months[141].

Financial Performance - Operating revenue for the first quarter of 2022 was CNY 37,865,897.96, down 9.18% year-on-year due to reduced order deliveries impacted by the pandemic[16][17]. - Net profit attributable to shareholders for the first quarter of 2022 was CNY 2,913,434.33, a decline of 36.09% compared to the same period last year[16][18]. - Basic earnings per share decreased by 50.85% to CNY 0.0547 due to an increase in share capital from 40,972,224 shares to 53,263,891 shares following the 2020 equity distribution[16][18]. - The company reported a decrease in gross profit margin due to rising raw material costs, contributing to the decline in net profit[18]. - Total operating revenue for Q1 2022 was CNY 37,865,897.96, a decrease of 9.8% compared to CNY 41,694,357.54 in Q1 2021[70]. - Net profit for Q1 2022 was CNY 2,913,434.33, a decrease of 36.1% compared to CNY 4,558,767.32 in Q1 2021[72]. - Operating profit for Q1 2022 was CNY 2,751,395.40, down 35.0% from CNY 4,230,302.13 in Q1 2021[72]. - Total revenue for Q1 2022 was CNY 3,237,966.00, a decline of 40.1% compared to CNY 5,406,632.49 in Q1 2021[72]. - The company reported a net profit margin of 6.3% for Q1 2022, down from 8.2% in Q1 2021[70]. - Total comprehensive income for Q1 2022 was CNY 2,913,434.33, a decrease of 36.1% compared to CNY 4,558,767.32 in Q1 2021[72]. Assets and Liabilities - Total assets as of March 31, 2022, were CNY 356,982,524.44, a decrease of 5.11% compared to the end of the previous year[16]. - Cash and cash equivalents decreased to CNY 89,280,958.86 as of March 31, 2022, from CNY 116,986,234.89 as of December 31, 2021, representing a decline of 24.0%[66]. - Accounts receivable decreased to CNY 59,383,892.53 as of March 31, 2022, from CNY 67,937,927.66 as of December 31, 2021, a reduction of 12.5%[66]. - Total liabilities decreased to CNY 100,855,358.15 as of March 31, 2022, from CNY 123,008,608.35 as of December 31, 2021, a decline of 18.0%[68]. - The company's equity attributable to shareholders increased to CNY 256,127,166.29 as of March 31, 2022, compared to CNY 253,213,731.96 as of December 31, 2021, an increase of 1.1%[68]. - The company's total liabilities to assets ratio remained stable at 28.25% for both the parent and consolidated entities[16]. Cash Flow - Net cash flow from operating activities increased by 140.24% to CNY 3,150,458.40, primarily due to reduced cash payments for goods and services compared to the previous year[16][18]. - Cash flow from operating activities for Q1 2022 was CNY 3,150,458.40, compared to a negative cash flow of CNY -7,829,454.67 in Q1 2021[75]. - Cash and cash equivalents at the end of Q1 2022 were CNY 74,944,033.11, down from CNY 90,693,637.08 at the end of Q1 2021[76]. - Investment cash outflow for Q1 2022 was CNY 91,884,532.69, significantly higher than CNY 20,314,232.40 in Q1 2021[75]. Shareholder Information - The registered capital of the company is CNY 53,263,891.00[14]. - The total number of restricted shares is 28,930,968, with 54.32% held by controlling shareholders[23]. - The total share capital is 53,263,891, with 2,554 common shareholders[23]. - The largest shareholder, Du Faping, holds 14,799,174 shares, representing 27.78% of the total[24]. - The top ten shareholders collectively hold 33,603,964 shares, accounting for 63.08% of the total[25]. - Shareholders have voluntarily waived their preemptive rights regarding the stock issuance[59]. Corporate Governance and Commitments - The company has made commitments to maintain labor dispatch employment below 10% of total employees[31]. - The controlling shareholder has committed to not reducing shareholdings below the issue price for two years post-lockup[32]. - The controlling shareholders and management commit to not interfering in the company's operations or misappropriating company interests[35]. - The company will prioritize cash dividends when distributing annual profits, ensuring at least 10% of the distributable profits are allocated in cash[37]. - The board must discuss any changes to the profit distribution policy with independent directors before submitting it for shareholder approval[39]. - The company will not allow any unfair benefit transfers to other entities or individuals by its directors and senior management[36]. Regulatory and Compliance - There are no ongoing litigation or arbitration matters reported during the reporting period[28]. - The company has not provided external guarantees or loans during the reporting period[28]. - The company has not engaged in any significant asset acquisitions or disposals during the reporting period[28]. - The company commits to providing accurate and complete information regarding the public offering and share issuance[53]. - The company guarantees that the public offering application documents are true, accurate, and complete, and will initiate a buyback if any false statements are identified[54]. - The company will accept supervision from regulatory bodies if it fails to implement the stock stabilization measures[50]. Stock Repurchase and Stabilization - The company plans to repurchase shares if the stock price stabilization conditions are met, following the completion of the major shareholders' stock increase plan[46]. - The funds used for share repurchase must not be less than 10% of the previous fiscal year's audited net profit attributable to the parent company[47]. - The total amount of funds for stock repurchase in a single fiscal year shall not exceed 30% of the previous fiscal year's audited net profit attributable to the parent company[48]. - If the stock price exceeds the net asset value per share for five consecutive trading days, the board may decide to terminate the share repurchase[49]. - After completing a share repurchase plan, the company's obligation to repurchase shares is temporarily lifted for 90 trading days[49]. - If the stock price falls below the issuance price for 20 consecutive trading days, the lock-up period for shares held by major shareholders will be extended by six months[33]. - The company will implement measures to stabilize stock prices if the stock price falls below the latest audited net asset value for 20 consecutive trading days[40]. - The controlling shareholder's funds used for stock repurchase should not exceed 30% of the cash dividends received in the previous fiscal year[43]. - The company will review its shareholder return plan every three years, considering the execution of the previous plan and shareholder feedback[38]. - The management commits to ensuring that any stock incentive plans are linked to the execution of measures to compensate for diluted immediate returns[36].

Company Overview - The company was listed on the Beijing Stock Exchange on November 15, 2021, becoming one of the first companies to do so[6]. - The company has a total share capital of 53,263,891 shares, with the controlling shareholder being Du Faping[28]. - Du Faping has been the chairman and general manager since the company's establishment in 2001, exerting significant influence over company decisions[196]. - The company did not conduct any public or private stock offerings during the reporting period[200]. - There were no changes in the controlling shareholder or actual controller during the reporting period[197]. Financial Performance - The company's operating revenue for 2021 was ¥227,523,358.24, a decrease of 2.02% compared to ¥232,210,495.75 in 2020[34]. - The net profit attributable to shareholders for 2021 was ¥30,511,712.56, down 8.75% from ¥33,437,933.41 in 2020[34]. - The gross profit margin for 2021 was 37.49%, a decline from 40.16% in 2020[34]. - The company's basic earnings per share for 2021 was ¥0.5728, a decrease of 17.64% from ¥0.6955 in 2020[34]. - The net cash flow from operating activities for 2021 was ¥13,894,046.59, a significant decline of 46.44% from ¥25,941,854.81 in 2020[37]. - The average return on net assets after deducting non-recurring gains and losses was 16.53% in 2020 and dropped to 11.23% in 2021, highlighting a trend of declining profitability[18]. - The weighted average return on net assets for 2021 is 12.64%, down from 17.97% in 2020, reflecting a potential risk of declining profitability[131]. Assets and Liabilities - Total assets increased by 3.31% to ¥376,222,340.31 at the end of 2021, compared to ¥364,184,421.72 at the beginning of the year[36]. - Total liabilities decreased by 6.27% to ¥123,008,608.35 at the end of 2021, down from ¥131,239,346.32 at the beginning of the year[36]. - The company's inventory value at the end of the reporting period was 65.21 million yuan, accounting for 17.33% of total assets[17]. - The company's cash and cash equivalents decreased by 0.30% to CNY 116,986,234.89, representing 31.09% of total assets[66]. - The accounts receivable increased by 0.47% to CNY 67,937,927.66, making up 18.06% of total assets[66]. Research and Development - The company has developed core technologies in valve electric actuators and intelligent control systems, maintaining a leading position in the industry[15]. - The company holds 50 patents as of December 31, 2021, including 5 invention patents and 43 utility model patents, along with 3 software copyrights[16]. - Research and development expenses increased by 11.88% to CNY 9,204,191.25, reflecting the company's commitment to innovation[69]. - The company is focused on continuous technological innovation and product line expansion to enhance market competitiveness and profitability[97]. - The company has invested in 8 R&D projects, including the development of IIOT-based smart new energy cloud electric devices[95]. Market Position and Competition - The company specializes in the manufacturing of valve actuators, with products widely used in nuclear power, petrochemical, metallurgy, municipal, and electric power industries[51]. - The company is positioned among the top three in market competitiveness domestically and aims to move towards high-end products[112]. - The domestic valve actuator industry is projected to grow rapidly due to national industrial restructuring, technological upgrades, and strong government support for fixed asset investment[103]. - The company is positioned to benefit from the increasing demand for high-end automation products, particularly in the nuclear power sector, where domestic manufacturers are improving their technology[65]. Risks and Challenges - The company faces risks related to market competition and the potential for performance fluctuations if it cannot maintain its technological advantages[15]. - The company is exposed to risks from natural disasters, wars, and major pandemics that could impact its operations and profitability[18]. - The company faces management risks associated with scale expansion, necessitating improvements in internal control and governance structures[129]. - The company acknowledges the potential impact of natural disasters and other uncontrollable events on its operations and profitability[132]. - The company faces uncertainties in obtaining future nuclear product orders if there are significant adverse changes in national nuclear development policies or project approvals[136]. Corporate Governance and Shareholder Relations - The company has a significant concentration of ownership, with the top two shareholders holding over 36% of the total shares[196]. - The top ten shareholders collectively hold 63.08% of the company's shares, with 25,839,520 shares at the beginning of the period and 33,602,464 shares at the end[194]. - The company commits to communicate with shareholders, especially minority shareholders, regarding any changes to the profit distribution policy[166]. - The company will adjust its profit distribution policy and future shareholder return plans based on discussions with independent directors and shareholder approval, requiring a two-thirds majority vote[166]. Quality Management - The company has established a strict quality management system, with no major product quality accidents reported, highlighting its commitment to product quality control[16]. - The company has implemented a comprehensive quality management approach to ensure the reliability and safety of its nuclear products throughout the entire process[136][137]. Future Outlook - The future outlook indicates a growing market for nuclear energy as a clean and efficient energy source, contributing to carbon neutrality goals[107]. - The company plans to actively participate in the nuclear power industry chain construction and increase its market share in nuclear power products[111]. - The company aims to enhance the intelligence of civilian products and improve their stability and reliability to meet diverse industry needs[108].