2022 年第三季度报告 证券代码：600119 证券简称：长江投资 长发集团长江投资实业股份有限公司 2022 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 | 项目 | 本报告期 | 本报告期 | 年初至报告期末 | 年初至报告 期末比上年 | | --- | --- | --- | --- | --- | | | | 比上年同 | | | | | | 期增减变 | | 同期增减变 | | | | 动幅度(%) | | 动幅度(%) | | 营业收入 | 341,844,601.42 | 13.84 | 1,020,471,655.43 | 35. ...

Financial Performance - Operating revenue rose by 49.54% to CNY 678,627,054.01 compared to the same period last year[6] - Net profit attributable to shareholders decreased by 115.75% to CNY -1,606,038.27 compared to the same period last year[8] - Net cash flow from operating activities decreased by 65.09% to CNY 19,684,393.60 compared to the same period last year[8] - The weighted average return on net assets decreased by 3.66 percentage points to -0.76%[8] - Basic and diluted earnings per share were both CNY -0.004, a decrease of 113.33% compared to the same period last year[8] Assets and Shareholder Information - Total assets increased by 6.96% to CNY 867,443,589.75 compared to the end of the previous year[6] - The total number of shareholders as of the report date was 25,079[9] - The largest shareholder, Changjiang Economic United Development Group, holds 45.83% of the shares[9] Operational Status - No significant changes in the company's operational situation were reported during the period[12] - The report was not audited, and all directors attended the board meeting[7]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥678,627,054.01, representing a 49.54% increase compared to ¥453,811,894.35 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was a loss of ¥1,606,038.27, a decrease of 115.75% from a profit of ¥10,195,683.78 in the previous year[20]. - The net cash flow from operating activities decreased by 65.09%, amounting to ¥19,684,393.60 compared to ¥56,389,631.71 in the same period last year[20]. - The basic earnings per share for the first half of 2022 was -¥0.004, a decrease of 113.33% from ¥0.03 in the same period last year[21]. - The weighted average return on net assets was -0.76%, a decrease of 3.66 percentage points from 2.90% in the previous year[21]. - The operating cost increased by 57.67% to RMB 648,121,634.09 from RMB 411,063,750.25, primarily due to increased sales from subsidiaries[39]. - The company reported a significant increase in inventory, which rose by 62.11% to RMB 66,528,879.27, attributed to increased performance costs from subsidiaries[43]. - The company recorded a 149.28% increase in contract liabilities, reaching RMB 56,071,251.66, due to new performance obligations in logistics and meteorological enterprises[43]. - The company reported a financial expense of -¥5,361,411.42, compared to a financial expense of ¥8,050,270.84 in the previous year[92]. - The company's net loss for the first half of 2022 was ¥102,579.92, compared to a net loss of ¥6,716,455.38 in the first half of 2021[92]. Assets and Liabilities - The total assets at the end of the reporting period were ¥867,443,589.75, an increase of 6.96% from ¥811,014,493.41 at the end of the previous year[21]. - Total assets for the first half of 2022 amounted to 867 million, with total liabilities of 501 million and equity of 366 million, of which equity attributable to shareholders was 210 million[31]. - The total liabilities of the company increased to RMB 444,731,473.17, indicating a rise in financial obligations[85]. - The total current assets reached RMB 644,519,498.76, compared to RMB 568,583,301.78 at the beginning of the year, showing an increase of approximately 13.36%[84]. - The total owner's equity at the end of the reporting period was 365,828,876.89, reflecting a decrease of 4,859,559.15 compared to the previous period[107]. Investments and Acquisitions - The company has invested 48 million to acquire a 60% stake in Anqing Wanyu Mining Co., which is involved in copper and silver mining, but has faced uncertainties regarding mining rights[27]. - The company plans to acquire a 30% stake in Shanghai Changjiang Tianji Engineering Management Co., Ltd. for RMB 900,000, which will enhance its project management capabilities[35]. - The company has initiated a renewal application for the mining rights of the Niutoushan Copper Mine, which expired on March 11, 2022[34]. Operational Challenges and Strategies - The company faces challenges from a complex macroeconomic environment, including demand contraction and supply shocks, impacting some business operations[49]. - The company has identified difficulties in acquiring quality investment project resources due to market growth structure differentiation and intensified competition[49]. - The company is committed to enhancing asset management and has implemented a framework for effective control between parent and subsidiary companies[32]. - The company aims to reduce management and financial expenses to enhance profitability, focusing on controlling unnecessary management costs and lowering borrowing rates[120]. - The company is actively pursuing overdue receivables to mitigate credit risk and improve cash flow[120]. Governance and Compliance - The company has implemented new internal audit and risk management systems to enhance governance and compliance[36]. - The company received an administrative penalty of 140,000 yuan due to non-compliance with water pollution discharge standards by its subsidiary, Changwang Technology, but this will not significantly impact its operations or financials[58]. - The company has not disclosed any plans for new products, technologies, market expansion, or mergers and acquisitions in this report[19]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 25,079, with no preferred shareholders having restored voting rights[72]. - The company has 57,870,370 shares under lock-up conditions, which will become tradable on January 7, 2024[77]. - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[56]. Financial Reporting and Accounting Policies - The company did not report any changes in accounting policies or prior period error corrections during this period[107]. - The company's financial statements are prepared based on the assumption of going concern, indicating no significant uncertainty in its ongoing operations for the foreseeable 12 months[121]. - The company adheres to the accounting standards for business combinations, recognizing long-term equity investments based on the fair value of assets and liabilities at the acquisition date[126][127]. Revenue Recognition - The company recognizes revenue when control of goods is transferred to the customer, which includes conditions such as contract approval and clear payment terms[186]. - Revenue is primarily categorized into logistics service revenue, product sales revenue, and leasing revenue[188]. - Logistics services revenue is recognized at a specific point in time upon delivery and acceptance by the customer[188]. Employee Compensation and Benefits - Employee compensation includes various forms of remuneration, with short-term compensation recognized as a liability and included in current period expenses[178]. - The company recognizes long-term employee benefits based on defined contribution plans and defined benefit plans, with costs recognized in the current period[182].

Financial Performance - The company's operating revenue for Q1 2022 was ¥320,082,181.70, representing a year-on-year increase of 32.19%[5] - The net profit attributable to shareholders of the listed company was -¥4,482,170.21, indicating a non-applicable change[5] - The net cash flow from operating activities was -¥13,774,564.36, showing a non-applicable change[5] - Total operating revenue for Q1 2022 was CNY 320,082,181.70, an increase of 32.2% compared to CNY 242,144,003.02 in Q1 2021[21] - Net loss for Q1 2022 was CNY 7,021,472.45, compared to a net loss of CNY 664,030.83 in Q1 2021[22] - Operating profit for Q1 2022 was CNY -6,748,156.21, a decline from CNY -774,557.69 in Q1 2021[21] - The company reported a basic and diluted earnings per share of CNY -0.01 for Q1 2022, compared to CNY 0.00 in Q1 2021[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥799,819,972.65, a decrease of 1.38% compared to the end of the previous year[6] - As of March 31, 2022, the total assets of the company amounted to RMB 799,819,972.65, a decrease from RMB 811,014,493.41 at the end of 2021, reflecting a decline of approximately 1.5%[17] - The company's current assets totaled RMB 571,525,319.75, slightly up from RMB 568,583,301.78 at the end of 2021, indicating a marginal increase of about 0.3%[17] - The company's total liabilities stood at RMB 571,525,319.75, with short-term borrowings at RMB 170,478,444.43, which remained relatively stable compared to RMB 171,508,444.43 in the previous period[18] - Total liabilities as of Q1 2022 were CNY 436,153,009.06, slightly down from CNY 440,326,057.37 in the previous quarter[21] - Total equity attributable to shareholders was CNY 206,860,447.48, a decrease from CNY 211,342,617.69 in the previous quarter[21] Cash Flow - Cash flow from operating activities for Q1 2022 was CNY -13,774,564.36, compared to CNY -9,771,681.92 in Q1 2021[24] - The company’s cash inflow from operating activities was CNY 306,404,035.72, compared to CNY 169,518,593.62 in Q1 2021[24] - Cash flow from financing activities showed a net outflow of $9,439,494.81, compared to a net outflow of $11,639,659.15 in the previous period, reflecting improved cash management[25] - The company's cash and cash equivalents at the end of the period were $175,538,810.66, down from $194,434,697.73 at the beginning of the period[25] Research and Development - The company's research and development expenses decreased by 47.23% due to reduced personnel and investment in subsidiaries[11] - The company incurred research and development expenses of CNY 691,172.46 in Q1 2022, down from CNY 1,309,738.24 in Q1 2021[21] Investment Income - The company's investment income decreased by 79.52% primarily due to reduced dividends from associated companies[11] - Net cash flow from investment activities was $4,038,139.57, compared to $3,163,083.42 in the previous period, indicating a positive trend[25] - Total cash inflow from investment activities amounted to $45,214,583.80, while cash outflow was $41,176,444.23, resulting in a net inflow[25] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 22,248[13] Other Financial Metrics - The weighted average return on net assets was -2.14%, a decrease of 2.07 percentage points[6] - The company reported a significant decrease in non-operating income by 97.38% due to reduced penalty compensation received[11] - The company reported a significant increase in accounts payable, rising to RMB 111,224,678.18 from RMB 95,117,754.19, which is an increase of approximately 17%[18] - The company has a long-term investment of RMB 23,890,184.23, down from RMB 31,754,483.93, indicating a decrease of about 24.8%[18] - The company’s inventory was reported at RMB 42,159,275.78, showing a slight increase from RMB 41,038,902.94, which is an increase of approximately 2.7%[18] - The company has not disclosed any new product developments or market expansion strategies in the current report[15]

Financial Performance - The company's operating revenue for 2021 was CNY 1,100,751,029.41, representing a 120.39% increase compared to CNY 499,465,181.41 in 2020[20]. - The net profit attributable to shareholders was CNY -135,051,832.86, a decline from CNY -96,871,375.66 in the previous year[20]. - The cash flow from operating activities increased by 254.16% to CNY 94,378,369.03, up from CNY 26,648,205.73 in 2020[21]. - The company reported a significant increase in revenue from core business activities, with a total of CNY 1,098,032,223.52, up 121.61% from the previous year[20]. - The company achieved an operating income of 1.1 billion RMB in 2021, while the net profit attributable to shareholders was -135.05 million RMB[30]. - The basic and diluted earnings per share for 2021 were both -0.37 RMB, compared to -0.32 RMB in 2020[22]. - The weighted average return on equity improved to -48.46% in 2021 from -63.35% in 2020, an increase of 14.89 percentage points[22]. - The company reported quarterly revenues of 242.14 million RMB in Q1, 211.67 million RMB in Q2, 300.29 million RMB in Q3, and 346.65 million RMB in Q4 of 2021[23]. - The company recognized impairment losses totaling 115.02 million yuan, significantly impacting net profit due to uncertainties in mining rights[60]. - A goodwill impairment loss of 102.61 million yuan was recorded, reducing net profit attributable to shareholders by 51.30 million yuan[62]. Assets and Liabilities - Total assets decreased by 18.64% to CNY 811,014,493.41 at the end of 2021, down from CNY 996,851,375.38 at the end of 2020[21]. - The net assets attributable to shareholders decreased by 39.16% to CNY 211,342,617.69 at the end of 2021, compared to CNY 347,371,220.51 at the end of 2020[21]. - The total assets at the end of 2021 amounted to 811.01 million RMB, with total liabilities of 440.33 million RMB, and equity attributable to shareholders of the listed company was 211.34 million RMB[30]. - Cash and cash equivalents at the end of the period amounted to 194,434,697.73 RMB, representing 23.97% of total assets, an increase of 27.21% from the previous period[69]. - Trade financial assets increased by 60.00% to 53,385,476.13 RMB, primarily due to year-end financial management activities[69]. - Accounts receivable decreased by 27.44% to 242,821,399.40 RMB, mainly due to the reduction in the scope of consolidation from the disposal of the subsidiary[69]. - Total liabilities decreased by 25.50% in short-term borrowings to 171,508,444.43 RMB, reflecting the repayment of part of the borrowings[69]. - The company reported a significant decrease in goodwill by 68.20% to 23,924,550.74 RMB, attributed to goodwill impairment provisions[69]. Governance and Compliance - The board of directors confirmed the authenticity and completeness of the financial report, ensuring no significant omissions or misleading statements[4]. - The company has outlined potential risks in its management discussion and analysis section, advising investors to be cautious[7]. - The company completed the election of the board of directors and the supervisory board in April 2021, ensuring compliance with legal and regulatory requirements[84]. - The supervisory board diligently performed its supervisory functions, overseeing the operations of the board of directors and senior management, as well as monitoring financial conditions and periodic report preparation[85]. - The company maintained independence from its controlling shareholder, with no guarantees provided to the controlling shareholder or its affiliates during the reporting period[85]. - The company revised its articles of association and related governance documents to enhance corporate governance and ensure orderly operations of the shareholders' meetings[86]. - The company established a management and performance assessment system for leadership compensation, aligning with regulatory requirements[87]. - The audit committee held 6 meetings during the reporting period, ensuring the accuracy and completeness of the 2020 financial statements, which reflect the company's financial condition and operating results without any fraud or significant misstatements[110]. Strategic Initiatives - The company is focusing on enhancing management and control over subsidiaries to improve quality and efficiency[30]. - The company plans to strengthen its governance mechanisms and improve internal control systems for better compliance with management requirements[30]. - The company has implemented comprehensive budget management and strengthened financial control over Shihao International to minimize arbitration impacts on its future development[31]. - Longfa International Freight has focused on enhancing service capabilities and efficiency, particularly in the photovoltaic and chemical logistics sectors, to capitalize on market opportunities amid high freight rates[31]. - The company aims to leverage opportunities in the automotive logistics sector, particularly with the rise of new energy vehicles, to expand market share and enhance service quality[77]. - The company plans to stabilize existing operations while exploring new business opportunities, focusing on improving management capabilities and reducing operational risks[80]. - The company is committed to high-quality development during the "14th Five-Year Plan" period, addressing historical issues and restoring profitability[79]. - The company will continue to optimize its business structure and improve client management to enhance operational efficiency and profitability[80]. Social Responsibility and Community Engagement - The company allocated 100,000 RMB for poverty alleviation and infrastructure projects in Menglong Village, Yunnan Province, with specific construction plans including 33 square meters of concrete surface and 3,000 meters of water barriers[134]. - The company has committed to social responsibility initiatives, focusing on employee welfare, safety, and community support, including participation in the "Hundred Enterprises Help Hundred Villages" program[132]. - The company has been recognized for its contributions to epidemic prevention efforts during the COVID-19 pandemic, receiving accolades for its operational support[133]. - The company emphasizes a people-oriented approach in its management, focusing on employee development and social responsibility awareness[132]. Financial Management and Investments - The company approved the use of idle self-owned funds for short-term wealth management products up to RMB 10,000 million in April 2020 and increased the limit to RMB 17,000 million in April 2021[157]. - The company invested RMB 10,850 million in bank wealth management products with a remaining balance of RMB 9,550 million[156]. - The company engaged in various wealth management activities with annualized returns ranging from 1.3% to 3.54%[160]. - The company has a total of RMB 20,100 million in government bond reverse repos with an annualized return of 2.08%[160]. - The company has a total of RMB 50,000 million in structured deposits with annualized returns between 1.40% and 3.40%[160]. - The company has a total of RMB 8,000 million in notice deposit business with an annualized return of 0.3% to 2.025%[160]. - The company has a total of RMB 15,000 million in structured deposits with an annualized return of 1.3% to 3.42%[160]. - The company has no overdue amounts in its wealth management activities[156]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 20,919, a decrease from 22,248 at the end of the previous month[175]. - The top shareholder, Changjiang Economic United Development (Group) Co., Ltd., held 167,418,761 shares, representing 45.83% of total shares, with an increase of 57,870,370 shares during the reporting period[177]. - The company issued 57,870,370 new shares at a price of 4.32 RMB per share on January 7, 2021[173]. - The report indicates that there are no changes in the controlling shareholder or actual controller during the reporting period[182]. - The company has no existing employee stock ownership plans[175]. Employee and Management Structure - The company reported a total of 413 employees, with 27 in the parent company and 386 in major subsidiaries[117]. - The employee composition includes 240 production personnel, 34 sales personnel, 50 technical personnel, 26 financial personnel, and 63 administrative personnel[118]. - The company has established a performance evaluation mechanism for senior management, linking compensation to operational performance and key objectives[119]. - The company's management team has extensive experience in finance and investment, with several members holding key positions in other financial institutions[100]. - The company’s governance structure includes a mix of experienced professionals from diverse backgrounds in finance and management[100].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 300,290,101.94, representing a year-on-year increase of 154.06%[5] - The net profit attributable to shareholders was a loss of CNY 2,358,457.41, with a year-to-date net profit of CNY 7,837,226.37, which is not applicable for year-on-year comparison[5] - The company's operating revenue increased by 135.27% compared to the previous period, primarily due to increased sales from subsidiaries in international freight and other sectors[10] - The net profit attributable to shareholders was 1,142,734.17 yuan, reflecting a significant increase from the previous year's 21,379,878.94 yuan[10] - Total revenue for the first three quarters of 2021 reached ¥754,101,996.29, a significant increase from ¥320,523,043.95 in the same period of 2020, representing a growth of approximately 134%[22] - The net profit for the first three quarters of 2021 was ¥9,576,739.56, a turnaround from a net loss of ¥33,978,297.91 in the same period of 2020[23] - Operating profit for the first three quarters of 2021 was ¥12,676,754.93, compared to a loss of ¥37,596,908.35 in 2020, showing a significant improvement[23] - Total comprehensive income for the period amounted to CNY 9,576,739.56, a decrease of 33,978,297.91 compared to the previous period[24] Cash Flow and Assets - The cash flow from operating activities for the year-to-date period was CNY 61,263,996.29, showing an increase of 283.30%[6] - Cash inflow from operating activities for the first three quarters was CNY 825,023,516.98, up from CNY 445,133,882.65 in the same period last year, representing an increase of 85.2%[26] - Cash and cash equivalents at the end of the period totaled CNY 200,436,375.32, an increase from CNY 161,514,900.50 at the end of the previous period[27] - The company's cash and cash equivalents increased to ¥200,460,975.32 from ¥152,845,985.32, representing a growth of approximately 31%[19] - The total assets at the end of the reporting period were CNY 1,051,891,511.93, reflecting a 5.52% increase compared to the end of the previous year[6] - Current assets decreased slightly to ¥584,501,825.42 from ¥591,870,296.06 at the end of 2020, reflecting a decline of about 1%[19] - Total liabilities as of September 30, 2021, were ¥530,609,385.25, an increase from ¥478,323,766.34 at the end of 2020[20] Shareholder Information - The equity attributable to shareholders at the end of the reporting period was CNY 354,078,676.92, which is a 1.93% increase from the previous year[6] - The total number of common shareholders at the end of the reporting period was 19,873[13] - Basic and diluted earnings per share for the current period were both -CNY 0.01, compared to CNY 0.02 for the same period last year[6] - Basic and diluted earnings per share were both CNY 0.02, compared to a loss of CNY 0.11 in the previous period[24] Expenses and Liabilities - The company's total operating costs for the first three quarters of 2021 were ¥761,160,067.30, compared to ¥365,837,816.13 in 2020, indicating an increase of about 108%[22] - The company’s financial expenses decreased by 56.62%, mainly due to a reduction in loan scale and interest rates[10] - Current liabilities totaled ¥461,370,611.27, with short-term borrowings at ¥230,226,541.65 and accounts payable at ¥126,702,094.94[29] - Non-current liabilities reached ¥16,953,155.07, including lease liabilities of ¥67,040,230.84[30] Investments and Other Financial Activities - The company reported an investment income of ¥13,885,668.03 for the first three quarters of 2021, a significant increase from ¥1,419,177.45 in the same period of 2020[23] - Cash inflow from investment activities was CNY 980,113,107.53, compared to CNY 1,405,224,961.58 in the previous year, indicating a decrease of 30.2%[26] - The company received CNY 151,223,897.08 from borrowings, down from CNY 800,000,000.00 in the previous year[26] Risks and Future Outlook - The company is actively negotiating with performance compensation parties regarding adjustments to the performance compensation plan, indicating potential future financial implications[15] - The company has identified a risk of goodwill impairment related to the underperformance of its subsidiary, Shihuo International, in 2021[15] - The company has not disclosed any new product developments or market expansion strategies in this report[4] - There were no significant mergers or acquisitions reported during this quarter[4]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥453,811,894.35, representing a 124.30% increase compared to ¥202,327,586.29 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥10,195,683.78, a significant recovery from a loss of ¥24,285,541.01 in the previous year[18]. - The net cash flow from operating activities increased by 136.68% to ¥56,389,631.71, compared to ¥23,825,296.33 in the same period last year[18]. - The total assets at the end of the reporting period were ¥1,060,262,317.31, up 6.36% from ¥996,851,375.38 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company increased by 2.61% to ¥356,437,134.33 from ¥347,371,220.51 at the end of the previous year[18]. - The basic earnings per share for the first half of 2021 was ¥0.03, compared to a loss of ¥0.08 in the same period last year[19]. - The weighted average return on net assets increased by 15.69 percentage points to 2.90% from -12.79% in the previous year[19]. - The company reported a significant reduction in non-recurring losses, with the net profit excluding non-recurring items at -¥10,041,460.99, an improvement from -¥36,290,101.01 in the previous year[18]. - The company achieved operating revenue of CNY 453.81 million and a net profit attributable to shareholders of CNY 10.20 million for the first half of 2021[28]. - The company reported a net loss of CNY -589,947,824.97, slightly improved from CNY -598,937,397.29 in the previous period[91]. - The company’s total comprehensive income for the period was CNY 2,681,321.72, reflecting a positive performance despite previous losses[110]. Asset Management - As of June 30, 2021, the company reported total assets of CNY 1,060.26 million, total liabilities of CNY 532.65 million, and total equity of CNY 527.61 million, with equity attributable to shareholders amounting to CNY 356.44 million[28]. - Cash and cash equivalents decreased by 25.01% to ¥114.62 million, primarily due to loan repayments[40]. - Trading financial assets increased by 232.59% to ¥110.97 million, mainly due to an increase in wealth management investments[40]. - Accounts receivable decreased by 22.53% to ¥259.25 million, attributed to a reduction in receivables from subsidiaries[40]. - Inventory increased by 10.63% to ¥38.59 million, mainly due to increased stock for meteorological products[40]. - Short-term borrowings increased by 1.51% to ¥233.70 million, as the company repaid part of its bank loans[40]. - Contract liabilities increased by 59.58% to ¥16.32 million, primarily due to increased advance payments from meteorological enterprises[40]. - The total equity attributable to the parent company at the end of the period was 356,437,134.33 RMB, reflecting a change from the previous period[107]. - The total owner's equity increased to 527,613,809.87 RMB, showing a positive trend in the company's financial health[107]. Operational Strategy - The company completed the divestiture of its 72.85% stake in the Land Transportation Center, which is expected to reduce annual management and financial expenses, thereby improving profitability[28]. - The logistics segment, particularly through 世灏国际, aims to capitalize on the market opportunities presented by the upgrade of new energy vehicles, enhancing its market share in luxury car logistics[24]. - The company is actively addressing challenges in the freight forwarding industry by implementing cost-saving measures and improving operational efficiency[25]. - The company is exploring multiple channels for asset disposal and revitalization in the resource sector, following its investment in Anqing Wanyu Mining Co., Ltd.[26]. - The company is focused on enhancing data analysis and resource allocation capabilities, aiming for comprehensive business data retention[30]. - The company has initiated a talent development plan to optimize personnel structure and talent reserves[32]. - The company has strengthened its governance structure by revising key internal regulations and enhancing risk management practices[31]. - Management has implemented cost control measures, reducing unnecessary administrative expenses and interest costs by repaying bank loans with the raised funds, thereby improving profitability[123]. - The company is actively optimizing the operations of its subsidiaries and is taking measures such as divestiture or liquidation for those unable to achieve profitability[123]. Financial Management - The financial expenses decreased by 41.82% to ¥8,050,270.84, attributed to a reduction in loan scale and interest rates[34]. - Research and development expenses rose by 13.18% to ¥3,368,318.02, mainly due to increased investment in meteorological enterprises[34]. - The company incurred interest expenses of RMB 5,283.67 million in the first half of 2021, a decrease from RMB 7,258.49 million in the first half of 2020[98]. - The company’s financial expenses decreased significantly to RMB 396.67 million in the first half of 2021 from RMB 7,291.85 million in the same period of 2020[98]. - The company expects to maintain its ability to continue as a going concern for at least the next 12 months, with no significant uncertainties anticipated[124]. Shareholder Information - The company issued 57,870,370 shares at a price of RMB 4.32 per share, raising a total of RMB 249,999,998.40, with net proceeds of RMB 246,199,998.40 after deducting underwriting fees[75]. - The total number of shares after the issuance is 365,270,370, with 15.84% being restricted shares and 84.16% being unrestricted circulating shares[74]. - The largest shareholder, Changjiang Economic Development (Group) Co., Ltd., held 45.83% of the shares, totaling 167,418,761 shares, including 57,870,370 shares under lock-up conditions[81]. - The lock-up shares of 57,870,370 will be released on January 7, 2024, as they are from a non-public issuance[84]. - The company distributed CNY 4,410,000.00 to shareholders during the reporting period[108]. Regulatory Compliance - There were no significant lawsuits or arbitration matters during the reporting period, indicating a stable legal environment for the company[67]. - The company has not faced any regulatory penalties or compliance issues during the reporting period, ensuring its operational integrity[67]. - The company has not reported any changes in the controlling shareholder or actual controller during the reporting period[86]. - The company has not disclosed any significant environmental issues or penalties related to environmental protection[61]. - The company has not engaged in any major mergers or acquisitions during the reporting period, maintaining its current operational structure[68]. Research and Development - Long望科技 has completed two new research and development projects, with one passing the assessment, focusing on advancing meteorological product innovation[29]. - Long望科技's products, including digital sounding instruments, participated in the meteorological support for the Shenzhou 12 manned spaceflight mission[29]. Economic Environment - The company is currently facing significant uncertainty in the macroeconomic environment, with a slowdown in domestic economic growth and a need for structural adjustment[48]. - The company is currently in a transitional period, facing risks in acquiring quality investment projects due to intensified competition and market structure differentiation[48].

Financial Performance - Operating revenue surged by 124.30% to CNY 453,811,894.35 compared to the same period last year [9] - Net profit attributable to shareholders was CNY 10,195,683.78, a significant recovery from a loss of CNY 24,285,541.01 in the previous year [9] - Net cash flow from operating activities increased by 136.68% to CNY 56,389,631.71 compared to the previous year [9] - The weighted average return on net assets improved by 15.69 percentage points to 2.90% [9] - Basic and diluted earnings per share were both CNY 0.03, recovering from a loss of CNY 0.08 per share in the previous year [9] Assets and Shareholder Information - Total assets increased by 6.36% to CNY 1,060,262,317.31 compared to the end of the previous year [7] - The total number of shareholders reached 20,430 by the end of the reporting period [10] - The largest shareholder, Changjiang Economic United Development Group, holds 45.83% of the shares [10] Operational Status - There were no significant changes in the company's operational situation or major events affecting future operations during the reporting period [13] - The report was approved by the board of directors on August 25, 2021 [13]

Financial Performance - Operating revenue surged by 195.44% to CNY 242,144,003.02 year-on-year[5] - Net profit attributable to shareholders was CNY -234,431.90, showing improvement from CNY -13,036,743.40 in the same period last year[5] - The company reported a net profit excluding non-recurring items of CNY -2,770,473.29, an improvement from CNY -18,215,374.44 last year[5] - Basic and diluted earnings per share remained at CNY 0.00, compared to CNY -0.04 in the previous year[5] - The net profit for Q1 2021 was a loss of ¥664,030.83, an improvement from a loss of ¥15,337,390.64 in Q1 2020[22] - The total comprehensive income for Q1 2021 was a loss of CNY 664,030.83, compared to a loss of CNY 15,337,390.64 in Q1 2020, indicating a significant reduction in losses[23] - The company reported an operating profit loss of CNY 2,615,732.37 for Q1 2021, an improvement from a loss of CNY 7,083,199.99 in Q1 2020[26] Assets and Liabilities - Total assets increased by 14.89% to CNY 1,145,298,402.92 compared to the end of the previous year[5] - Accounts receivable increased by 24.29% to ¥415,935,303.85 compared to the end of the previous year, mainly due to an increase in receivables from logistics companies[9] - The company’s inventory increased by 16.14% to ¥40,512,518.79, primarily due to increased stock for meteorological products[9] - The company’s liabilities increased significantly, with accounts payable rising by 60.50% to ¥203,352,565.33, mainly due to increased payables in logistics[9] - Total liabilities amounted to CNY 478,323,766.34, with current liabilities at CNY 461,370,611.27 and non-current liabilities at CNY 16,953,155.07[36] - The total assets as of December 31, 2020, were 996,851,375.38 RMB, reflecting a decrease in total assets compared to the previous reporting period[35] Cash Flow - Cash flow from operating activities was CNY -9,771,681.92, slightly worse than CNY -9,744,992.51 in the previous year[5] - The net cash flow from operating activities was -471,385.13 RMB in Q1 2021, a stark contrast to the positive cash flow of 39,497,581.09 RMB in Q1 2020[31] - Cash inflows from operating activities totaled CNY 169,518,593.62, up from CNY 131,215,570.39 in the previous year, reflecting a 29.1% increase[28] - The net cash flow from financing activities was -11,639,659.15 RMB, compared to -54,728,003.21 RMB in Q1 2020, showing a reduction in cash outflow[30] Shareholder Information - The total number of shareholders reached 19,684 by the end of the reporting period[8] - The largest shareholder, Changjiang Economic United Development Group, holds 45.83% of the shares[8] Government Support - The company received government subsidies amounting to CNY 3,138,880.58, including CNY 1,903,000.00 for development support[7] - The company reported a significant increase in other income, which rose by 434.93% to ¥3,011,538.85, attributed to increased government subsidies related to business operations[9] Financial Management - The company’s financial expenses decreased by 66.67% to ¥1,996,085.08, mainly due to a decline in interest rates[9] - The company reported a financial expense of ¥1,996,085.08 in Q1 2021, a decrease from ¥5,988,783.61 in Q1 2020, showing a reduction of approximately 66.7%[22] - The company recorded investment income of CNY 1,357,054.33, compared to a loss of CNY 894,145.47 in the same period last year, showing a positive turnaround[26] Future Outlook - The company has not indicated any significant changes in its future profit forecasts or major commitments that remain unfulfilled[12]

Financial Performance - The company's operating revenue for 2020 was CNY 499,465,181.41, a decrease of 37.54% compared to CNY 799,667,669.60 in 2019[21] - The net profit attributable to shareholders for 2020 was a loss of CNY 96,871,375.66, a decline of 260.20% from a profit of CNY 60,469,139.18 in 2019[21] - The company's total assets decreased by 25.34% to CNY 996,851,375.38 at the end of 2020, down from CNY 1,335,258,023.20 in 2019[21] - The net assets attributable to shareholders increased by 71.96% to CNY 347,371,220.51 at the end of 2020, compared to CNY 202,004,516.09 at the end of 2019[21] - The basic earnings per share for 2020 was -CNY 0.32, a decrease of 260.00% from CNY 0.20 in 2019[22] - The weighted average return on equity for 2020 was -63.35%, a decrease of 98.99 percentage points from 35.64% in 2019[22] - The net cash flow from operating activities for 2020 was CNY 26,648,205.73, a decline of 58.06% from CNY 63,543,913.16 in 2019[21] Operational Highlights - In Q1 2020, the company's operating revenue was CNY 81,959,345.32, which increased to CNY 178,942,137.46 in Q4 2020, showing a growth of approximately 118% over the year[25] - The net profit attributable to shareholders was negative across all quarters, with Q4 2020 reporting a loss of CNY 63,930,951.91, indicating a significant decline in profitability[25] - The net cash flow from operating activities was negative in Q1 and Q3 2020, with a high of CNY 33,570,288.84 in Q2 2020, reflecting volatility in cash generation[25] Government Support and Industry Position - The company received government subsidies amounting to CNY 11,331,729.02 in 2020, which are closely related to its normal operations[26] - The company is involved in modern logistics, meteorological technology, and other industrial investments, positioning itself as a key player in the Yangtze River Delta integration strategy[30] - The logistics sector is undergoing consolidation, with modern logistics emerging as a critical service industry supporting the national economy[32] - The logistics industry is supported by various government policies aimed at reducing costs and improving efficiency, which may benefit the company's operations[33] Strategic Initiatives - The company has divested its financial services segment, selling a 30% stake in a microloan company to focus on its core business[31] - The company is actively involved in resource investments, having acquired a 60% stake in a mining company, indicating a diversification strategy[31] - The company is focusing on the development of smart logistics and green logistics to improve operational efficiency and sustainability[36] - The company has made significant progress in enhancing its logistics infrastructure and service capabilities, aligning with national policies aimed at reducing logistics costs and improving efficiency[36] Financial Management and Governance - The company has implemented new management systems to enhance internal controls and risk management, including the establishment of performance assessment measures for subsidiary leadership[43] - The company has revised its profit distribution policy to ensure that cash dividends in the last three years are no less than 30% of the average distributable profit for those years[87] - The company has committed to not transferring shares for 36 months following the completion of its non-public offering, ensuring stability in shareholding[91] - The company has appointed Shanhui Accounting Firm (Special General Partnership) for the 2020 financial report audit, replacing Lixin Accounting Firm after 16 years of service[101] Litigation and Risk Management - The company is currently involved in significant litigation, with a total claim amount of 203.53 million RMB related to a contract dispute[104] - The company has made provisions for bad debts amounting to 115.48 million RMB due to the bankruptcy of Zhejiang Xunding Steel Co., Ltd.[104] - The company is actively managing its litigation risks and has taken a cautious approach in its financial reporting related to these cases[104] Human Resources and Talent Management - The company has seen a turnover of several key executives, including the resignation of the general manager and several vice presidents[157] - The company is actively managing its human resources, with a focus on retaining talent and ensuring effective leadership transitions[157] - The company has established a talent reserve platform and promotes internal competition and job rotation to enhance talent retention[172] Community Engagement and Social Responsibility - The company has committed to a poverty alleviation plan in Menglong Village, focusing on improving living conditions, enhancing cultural education, and investing in agricultural technology[126] - The company allocated a special fund of RMB 60,000 for educational support in Menglong Village, including purchasing books and establishing a love bookshelf[135] - The total investment in targeted poverty alleviation efforts amounted to RMB 159,800, including RMB 60,000 in funds and RMB 99,800 in material support[136] Shareholder Information - The company raised a total of RMB 249,999,998.40 through a private placement of shares, with a net amount of RMB 243,088,948.83 after deducting issuance costs[144] - The largest shareholder, Changjiang Economic United Development Group, holds 35.64% of the shares, totaling 109,548,391 shares[148] - The actual controller of the company is the Shanghai State-owned Assets Supervision and Administration Commission, which oversees state-owned assets in Shanghai[151] Audit and Compliance - The audit report confirmed that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2020[189] - The internal control audit report received a standard unqualified opinion, indicating no significant deficiencies in internal controls[186] - The company engaged in multiple communications with external auditors to ensure compliance with accounting policies and financial reporting procedures[183]