Financial Performance - Net profit attributable to shareholders rose by 106.09% to CNY 84,001,577.70 year-on-year[17] - Operating revenue for the first nine months increased by 32.21% to CNY 1,534,640,168.52 compared to the same period last year[17] - Basic earnings per share increased by 106.97% to CNY 0.0772[17] - The company reported a net profit increase, leading to a 30.51% rise in undistributed profits to CNY 359,362,736.43[23] - Total operating revenue for Q3 2020 reached ¥593.77 million, a 40% increase from ¥425.42 million in Q3 2019[50] - Net profit for Q3 2020 was ¥48.67 million, compared to ¥8.74 million in Q3 2019, representing a significant increase[52] - The company reported a total profit of ¥57.79 million for Q3 2020, compared to ¥12.67 million in Q3 2019[52] - The company's total comprehensive income for Q3 2020 was ¥48.44 million, compared to ¥8.74 million in Q3 2019[56] Assets and Liabilities - Total assets increased by 8.26% to CNY 3,567,222,994.97 compared to the end of the previous year[17] - Non-current assets totaled $1,276,499,084.94, an increase of 14.2% from $1,118,058,215.99[36] - Total liabilities amounted to $1,589,516,230.26, reflecting an increase of 10.9% from $1,433,272,865.13[38] - Current liabilities increased to $1,543,447,481.84, a rise of 10.3% compared to $1,399,407,195.43[36] - Shareholders' equity rose to $1,977,706,764.71, up 6.2% from $1,861,679,735.09[38] - The company’s total current assets remained stable at 2,176,894,384.23 RMB, consistent with the previous reporting period[76] Cash Flow - Cash flow from operating activities showed a net outflow of CNY -61,922,459.72 for the first nine months[17] - The company's cash flow from operating activities for the first three quarters of 2020 was negative at -¥61,922,459.72, compared to -¥43,083,446.03 in the same period of 2019[64] - The cash inflow from operating activities totaled ¥1,295,564,841.31 for the first three quarters of 2020, compared to ¥1,006,613,025.05 in the same period of 2019, marking an increase of about 28.7%[64] - The total cash and cash equivalents at the end of the period decreased to 294,814,744.99 RMB from 420,785,289.86 RMB, indicating a reduction in liquidity[68] Shareholder Information - The total number of shareholders reached 21,529 by the end of the reporting period[19] - The largest shareholder, Tianjin Hydraulic Machinery Group Co., Ltd., holds 51.66% of the shares[19] Government Subsidies and Other Income - The company received government subsidies totaling CNY 19,341,520.24 during the first nine months, primarily from tax refunds and subsidies[17] - Other income rose by 51.10% to CNY 19,437,205.20, largely due to the consolidation of Liaoning Rongxin Company and increased tax refund income[25] - The company reported a non-operating income of CNY 9,192,689.46 for the third quarter[19] Expenses - The company’s sales expenses surged by 115.09% to CNY 86,636,425.43, attributed to the consolidation of Liaoning Rongxin Company[23] - R&D expenses in Q3 2020 amounted to ¥24.21 million, a 41% increase from ¥17.20 million in Q3 2019[50] - Tax expenses for Q3 2020 were ¥9.13 million, compared to ¥3.93 million in Q3 2019, reflecting a 132% increase[52] Compliance and Accounting Standards - The company has not made retrospective adjustments to comparative financial statements as per the new revenue standards[92] - The company is in compliance with the new accounting standards effective from January 1, 2020, without adjustments to prior year data[92] - The financial data reflects the company's adherence to the revised accounting standards without retrospective adjustments[90]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥940,872,982.11, representing a 27.96% increase compared to ¥735,309,804.58 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2020 was ¥40,606,473.32, up 24.63% from ¥32,581,754.41 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥33,687,774.05, which is a 51.10% increase from ¥22,294,959.38 year-on-year[20]. - Basic earnings per share for the first half of 2020 were ¥0.0373, a 25.59% increase compared to ¥0.0297 in the same period last year[21]. - The weighted average return on net assets for the first half of 2020 was 2.37%, an increase of 0.43 percentage points from 1.94% in the previous year[21]. - The company achieved a total asset of CNY 3,521.66 million, an increase of 6.88% compared to the end of the previous year[37]. - The net profit attributable to shareholders reached CNY 40.61 million, a year-on-year growth of 24.63%[37]. - The operating revenue for the period was CNY 940.87 million, reflecting a year-on-year increase of 27.96%[37]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 33.69 million, up 51.10% year-on-year[37]. - The total comprehensive income for the period reached CNY 66,614,679.81, compared to CNY 38,333,785.50 in the previous period, representing an increase of approximately 74%[112]. - The net profit attributable to the parent company was CNY 58,028,189.72, up from CNY 32,377,871.04, indicating a growth of about 79.5%[112]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥3,521,658,379.34, reflecting a 6.88% increase from ¥3,294,952,600.22 at the end of the previous year[20]. - Total assets at the end of the reporting period amounted to CNY 3,515,000,000, with a notable increase in fixed assets due to the acquisition of Mengwang Group's assets[48]. - Total liabilities amounted to ¥1,592,336,642.80, which is an increase of 11.1% compared to ¥1,433,272,865.13 at the end of 2019[99]. - The total liabilities as of June 30, 2020, were ¥697,211,330.82, an increase of 10.3% from ¥632,117,829.12 at the end of 2019[105]. - The total owner's equity at the end of the reporting period is 1,121,895,038.00 RMB, with a capital reserve of 407,213,222.29 RMB and undistributed profits of 157,690,305.76 RMB[141]. - The total equity at the end of the reporting period was 1,929,321,736.54, reflecting a significant increase from the previous year[133]. Cash Flow - The company reported a net cash flow from operating activities of -¥26,908,558.81, an improvement of 23.28% compared to -¥35,072,507.12 in the same period last year[20]. - The company reported a net cash inflow from financing activities of CNY 85,955,991.17, a significant turnaround from a cash outflow of CNY 122,010,772.16 in the previous year[43]. - Operating cash inflow for the first half of 2020 was CNY 858,624,446.21, an increase of 28.4% compared to CNY 668,665,874.21 in the first half of 2019[121]. - Cash inflow from financing activities was CNY 113,000,000.00, up 47.0% from CNY 76,900,000.00 in the same period last year[123]. - The ending cash and cash equivalents balance was CNY 347,810,094.81, down 26.6% from CNY 473,903,819.53 at the end of the first half of 2019[123]. Investments and Acquisitions - The company completed the acquisition of 86.735% of Rongxin Industry Co., enhancing overall profitability and stabilizing the core team[38]. - The company invested in upgrading production equipment, including automatic stamping machines and injection molding machines, to improve production efficiency[39]. - The company expanded its production lines to meet increasing customer demand, including new film sintering and mica tape winding production lines[39]. - The company’s strategic focus on mergers and acquisitions has strengthened its resource integration and expanded profit growth points[32]. Research and Development - The company’s research and development efforts focus on optimizing existing products and developing new ones in response to customer needs and industry trends[28]. - Research and development expenses increased by 12.92% to CNY 36,733,222.23, mainly due to the consolidation of Rongxin Xingye Company[43]. - The company has established provisions for bad debts based on objective evidence of credit impairment for receivables[183]. Risks and Challenges - The company anticipates a significant fluctuation in cumulative net profit compared to the same period last year, indicating potential losses[54]. - Risks include fluctuations in raw material prices such as copper and nylon, which could increase production costs and impact profitability[54]. - The company faces risks related to accounts receivable due to long payment cycles and potential litigation affecting cash recovery[54]. - There is a risk of impairment of goodwill from the acquisition of 86.735% of Rongxin Industry, which may adversely affect operating performance if future earnings are not realized[54]. Corporate Governance and Compliance - The company has not disclosed any major litigation or arbitration matters during the reporting period[72]. - The company has implemented a new revenue recognition standard effective from January 1, 2020, which is not expected to have a significant impact on its financial status or operating results[81]. - The company has established a commitment to maintain operational independence from its controlling shareholder, ensuring no interference in business decisions[67]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,872[85]. - The largest shareholder, Tianjin Hydraulic Machinery (Group) Co., Ltd., holds 579,606,870 shares, accounting for 51.66% of the total shares[85]. - The total number of shares held by the top ten shareholders does not include any shares with limited sale conditions[87]. Accounting Policies - The company follows the Chinese Accounting Standards and ensures the financial statements reflect its financial status accurately[157]. - The accounting treatment for business combinations under common control involves measuring the acquired assets and liabilities at their book value on the merger date, with any difference adjusted in capital reserves[160]. - Financial instruments are classified into three categories: amortized cost, fair value through other comprehensive income (debt instruments), and fair value through profit or loss[172].

股票简称：百利电气 股票代码：600468 公告编号：2020-013 | --- | |-----------------------------------------------------------------------------------------------------------------------------------------| | | | 特别提示 | | 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个别及连带责任。 | 重要内容提示： 会议召开时间：2020 年 6 月 10 日（周三）下午 15:00-16:30 会议召开方式：借助"全景•路演天下"平台以网络方式召开 天津百利特精电气股份有限公司（以下简称"公司"）已于 2020 年 4 月 29 日发布了 2019 年年度报告。为便于广大投资者深入全面地 了解公司情况，公司将于 2020 年 6 月 10 日（周三）15:00-16:30 在 全景网举行 2019 年度天津辖区网上集体接待日活动。本次活动将采 用 网 络 远 程 的 方 式 ...

2020 年第一季度报告 公司代码：600468 公司简称：百利电气 天津百利特精电气股份有限公司 2020 年第一季度报告 1 | --- | --- | --- | |-------|--------------------------------------------------------------------------|-------| | | 2020 年第一季度报告 | | | | | | | | 目录 | | | 一、 | 重要提示 ............................................................ 3 | | | 二、 | 公司基本情况 ........................................................ 3 | | | 三、 | 重要事项 ............................................................ 5 | | | 四、 | 附录 ................................................. ...

Financial Performance - The company's operating revenue for 2019 was RMB 1,569,254,445.34, representing a 15.64% increase compared to RMB 1,357,038,374.32 in 2018[22]. - The net profit attributable to shareholders of the listed company was RMB 56,311,165.20, up 19.49% from RMB 47,125,456.84 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 40,836,190.79, a significant increase of 75.06% from RMB 23,327,046.48 in 2018[22]. - The net cash flow from operating activities was RMB 147,012,520.82, reflecting a 56.05% increase compared to RMB 94,205,595.31 in 2018[22]. - The total assets at the end of 2019 were RMB 3,294,952,600.22, which is a 20.76% increase from RMB 2,728,541,660.07 at the end of 2018[22]. - The net assets attributable to shareholders of the listed company decreased by 3.85% to RMB 1,683,071,585.70 from RMB 1,750,477,452.36 in 2018[22]. - Basic earnings per share (EPS) increased by 22.86% to CNY 0.0516 in 2019 compared to CNY 0.0420 in 2018[23]. - The weighted average return on equity rose by 0.76 percentage points to 3.36% in 2019 from 2.60% in 2018[23]. - The company achieved a total revenue of 156,925.44 million RMB in 2019, representing a year-on-year growth of 15.64%[42]. - The net profit attributable to shareholders increased by 19.49% to 5,631.12 million RMB, while the net profit excluding non-recurring gains and losses surged by 75.06% to 4,083.62 million RMB[42]. Share Repurchase and Dividends - The company repurchased a total of 22,315,740 shares during the reporting period, with a total payment of RMB 127,102,290.71[6]. - The company does not plan to distribute cash dividends or issue bonus shares for the 2019 fiscal year[6]. - The cash dividend amount for 2019 was RMB 127,102,290.71, representing 100% of the profits available for distribution to ordinary shareholders[108]. - The company did not propose a cash profit distribution plan despite having positive profits available for ordinary shareholders[109]. - The company repurchased a total of 34,159,717 shares, using a total of RMB 191,068,331.04 for the buyback[45]. Acquisitions and Investments - The company plans to acquire an 86.735% stake in Rongxin Industry Company to enhance its product offerings in SVC and SVG technologies[34]. - The company successfully acquired 86.735% of Rongxin Industry, enhancing its product line in reactive power compensation equipment and increasing its R&D capabilities[42]. - The company acquired an 86.735% stake in Liaoning Rongxin Power Technology Co., Ltd. for a total transaction price of 630.8541 million RMB, with the equity transfer price being 495.86 million RMB and the accompanying asset price at 134.9941 million RMB[80]. - The company invested 596.63 million RMB in the pump industry group for production equipment, with a project progress of 54.07%[81]. - The company made significant investments totaling CNY 25,346.95 million during the reporting period, a 1,053.96% increase compared to CNY 2,196.52 million last year[77]. Operational Performance - The company operates 13 subsidiaries, employing a "sales-driven production" model to meet diverse customer needs[34]. - The main business sectors include electrical machinery manufacturing, with key products in power distribution and control equipment[33]. - The company reported a profit margin increase of 23.44%, with total profit amounting to 7,854.12 million RMB[42]. - The company’s gross profit margin for its main business products remained stable despite rising material and labor costs[50]. - The company’s manufacturing sector generated revenue of RMB 1,292,012,333.29, with a gross margin of 23.16%[51]. Research and Development - The company holds 123 new patents, including 39 invention patents, showcasing its commitment to technological innovation[41]. - Research and development expenses increased to CNY 69,151,744.38, a rise of 13.42% compared to CNY 60,967,926.12 in the previous year[66]. - The company is focusing on research and development to improve product technology and enhance competitiveness in the general machinery industry[90]. - The company focused on product innovation, achieving UL certification for its RIT series direct plug-in terminals, enhancing market competitiveness[45]. Risks and Challenges - The company has outlined potential risks in its future development strategy, which investors should be aware of[8]. - The company faces risks from raw material price fluctuations, particularly for copper and nylon, which could impact production costs and profitability[96]. - The company has a significant amount of accounts receivable due to long payment cycles, which increases operational costs and risks[96]. Corporate Governance - The company has committed to avoiding any direct or indirect competition with its controlling shareholder, Baoli Equipment Group, ensuring no business overlap[112]. - The company has established a priority right for Baoli Electric to acquire any new technologies or products developed by its subsidiaries that are related to Baoli Electric's operations[112]. - The company has a long-term commitment to maintain independence from its controlling shareholder, ensuring no interference in operational decisions[112]. - The company maintains a strict insider information management system to prevent insider trading[194]. - The company emphasizes transparent information disclosure, maintaining the quality of communication with shareholders[194]. Employee and Management - The total number of employees in the parent company and major subsidiaries is 2,076, with 42 in the parent company and 2,034 in subsidiaries[185]. - The company has established a comprehensive compensation assessment system, linking performance evaluations to salary and rewards[186]. - The training program focuses on enhancing employee capabilities, covering various areas such as strategic management and quality systems[189]. - The total remuneration for directors and senior management during the reporting period amounted to 4.5531 million RMB[180]. Future Outlook - The company expects national electricity consumption to grow by 4%-5% in 2020, maintaining a stable growth trend[90]. - The company anticipates that the proportion of non-fossil energy power generation capacity will increase to 43.6% by the end of 2020, up 1.7 percentage points from the end of 2019[90]. - The company aims to become a reliable supplier for smart grids by focusing on high-end power equipment and expanding into new materials and renewable energy sectors[91].

2019 年第三季度报告 公司代码：600468 公司简称：百利电气 天津百利特精电气股份有限公司 2019 年第三季度报告 1 / 28 2019 年第三季度报告 一、 重要提示 二、 公司基本情况. 11[ 重要事项 四、 附录 目录 2 / 28 2019 年第三季度报告 单位：元 币种：人民币 一、 重要提示 1.1 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、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人赵久占、主管会计工作负责人李军及会计机构负责人（会计主管人员）洪波保证 季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-----------------------------------------------|------------------------------|-------------------------------------- ...

公司代码：600468 公司简称：百利电气 2019 年半年度报告 天津百利特精电气股份有限公司 2019 年半年度报告 1 / 113 2019 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、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。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人赵久占、主管会计工作负责人李军及会计机构负责人（会计主管人员）洪波声明： 保证半年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 本报告期不进行利润分配和公积金转增股本。 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告所涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质承诺，请投 资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 重大风险提示 公司已在本报告中详细描述可能存在的风险，敬请查阅"第四节 经营情况的讨论与分析"的 "其他披露事项"中" ...

股票简称：百利电气 股票代码：600468 公告编号：2019-030 天津百利特精电气股份有限公司 关于举办"投资者网上集体接待日"活动的公告 特别提示 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个别及连带责任。 重要内容提示： 会议召开时间：2019 年 5 月 9 日（周四）下午 15:00-16:30 会议召开方式：借助"全景•路演天下"平台以网络方式召开 天津百利特精电气股份有限公司（以下简称"公司"）已于 2019 年 4 月 27 日发布了 2018 年年度报告。为便于广大投资者深入全面地 了解公司情况，公司将于 2019 年 5 月 9 日（周四）15:00-16:30 在 全景网举办 2018 年度网上集体接待日活动。本次活动将采用网络远 程的方式举行，投资者可登录"全景•路演天下"（http://rs.p5w.net） 参与本次互动交流。 公司出席本次活动的人员有：董事长、财务总监、董事会秘书（如 有特殊情况，参与人员会有调整）。 欢迎广大投资者积极参与。 相关问题咨询办法： 电话：022-83963876 传真 ...

[Important Notice](index=3&type=section&id=%E4%B8%80%E3%80%81%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) [Declaration on the Authenticity, Accuracy, and Completeness of the Quarterly Report](index=3&type=section&id=1.1%20%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E4%BC%9A%E3%80%81%E7%9B%91%E4%BA%8B%E4%BC%9A%E5%8F%8A%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E4%BF%9D%E8%AF%81) The Board of Directors, Board of Supervisors, and all senior management guarantee the authenticity, accuracy, and completeness of this unaudited Q3 report - All directors, supervisors, and senior management confirm the report's content is true, accurate, and complete, and assume legal responsibility[9](index=9&type=chunk) - Company head Shi Qi, chief accountant Li Jun, and head of the accounting department Hong Bo guarantee the authenticity of the financial statements[9](index=9&type=chunk) - The company's **Q3 2018 report is unaudited**[9](index=9&type=chunk) [Company Profile](index=3&type=section&id=%E4%BA%8C%E3%80%81%20%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) [Key Financial Data](index=3&type=section&id=2.1%20%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) In the first three quarters of 2018, revenue grew 9.14% YoY while net profit attributable to shareholders declined by 1.58% Key Financial Data for the First Three Quarters of 2018 | Indicator | Jan-Sep 2018 (RMB) | Jan-Sep 2017 (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,039,213,500.71 | 952,194,848.07 | 9.14% | | Net Profit Attributable to Shareholders | 46,681,498.47 | 47,431,374.67 | -1.58% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 29,203,906.14 | 33,272,651.57 | -12.23% | | Net Cash Flow from Operating Activities | -79,034,837.26 | -160,393,576.79 | N/A | | Basic Earnings Per Share (RMB/Share) | 0.0576 | 0.0585 | -1.54% | | Weighted Average Return on Equity (%) | 2.56% | 2.68% | Decreased by 0.12 percentage points | Non-recurring Profit and Loss Items (YTD) | Item | Amount (RMB) | Description | | :--- | :--- | :--- | | Government Grants | 8,314,878.44 | Mainly tax refunds received | | Other Non-recurring Items | 11,912,535.78 | Income from short-term, principal-guaranteed bank products using idle raised funds | | **Total** | **17,477,592.33** | | [Shareholder Information](index=4&type=section&id=2.2%20%E6%88%AA%E6%AD%A2%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%9A%84%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E6%B5%81%E9%80%9A%E8%82%A1%E4%B8%9C%EF%BC%88%E6%88%96%E6%97%A0%E9%99%90%E5%94%AE%E6%9D%A1%E4%BB%B6%E8%82%A1%E4%B8%9C%EF%BC%89%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of the reporting period end, the company had 22,402 shareholders, with Tianjin Hydraulic Machinery (Group) Co, Ltd as the controlling shareholder - As of the end of the reporting period, the total number of shareholders was **22,402**[10](index=10&type=chunk) Top Five Shareholders | Shareholder Name | Shares Held at Period End | Ownership (%) | Shareholder Type | | :--- | :--- | :--- | :--- | | Tianjin Hydraulic Machinery (Group) Co., Ltd. | 414,004,907 | 51.04 | State-owned Legal Person | | Tianjin Baili Mechanical Equipment Group Co., Ltd. | 18,689,008 | 2.30 | State-owned Legal Person | | Tianjin Xinhao Investment Development Co., Ltd. | 17,334,165 | 2.14 | State-owned Legal Person | | China Securities Finance Corporation Limited | 15,224,650 | 1.88 | State-owned Legal Person | | Tianhong Fund - ICBC - Tianhong Fund - Dingzeng 116 Asset Management Plan | 13,835,510 | 1.71 | Domestic Non-state-owned Legal Person | - Tianjin Hydraulic Machinery (Group) Co, Ltd and Tianjin Xinhao Investment Development Co, Ltd are subsidiaries of Tianjin Baili Mechanical Equipment Group Co, Ltd, constituting a **concert party relationship**[11](index=11&type=chunk) [Significant Events](index=5&type=section&id=%E4%B8%89%E3%80%81%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) [Analysis of Significant Changes in Key Financial Statement Items and Indicators](index=5&type=section&id=3.1%20%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) The period saw significant fluctuations in financial items, including a surge in financial expenses and improved operating cash flow Analysis of Significant Changes in Financial Items | Financial Statement Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Accounts Receivable | 54.92 | Increase in operating revenue with payments not yet due | | Financial Expenses | 1,571.80 | Increase in bank borrowings during the reporting period | | Asset Impairment Loss | 69.02 | Increased impairment provisions corresponding to higher revenue and accounts receivable | | Investment Income | 56.29 | Increased net profit from associate companies and income from wealth management products using idle funds | | Net Cash Flow from Operating Activities | 50.72 | Primarily due to the maturity and collection of notes receivable | | Net Cash Flow from Investing Activities | -101.78 | Significant decrease in proceeds from matured short-term bank products compared to the prior year | [Progress on Significant Events](index=7&type=section&id=3.2%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9%E8%BF%9B%E5%B1%95%E6%83%85%E5%86%B5%E5%8F%8A%E5%85%B6%E5%BD%B1%E5%93%8D%E5%92%8C%E8%A7%A3%E5%86%B3%E6%96%B9%E6%A1%88%E7%9A%84%E5%88%86%E6%9E%90%E8%AF%B4%E6%98%8E) The company made progress on a previously disclosed contract dispute involving a subsidiary, receiving partial settlement payments - Regarding the lawsuit involving the affiliated sub-subsidiary Jinjiang International Logistics Co, Ltd, an enforcement payment of **RMB 3.33 million** was received in Q3 2018[13](index=13&type=chunk) - As of September 30, 2018, a cumulative total of **RMB 6.20 million** in settlement payments for this lawsuit has been received[13](index=13&type=chunk) [Appendix: Financial Statements](index=8&type=section&id=%E5%9B%9B%E3%80%81%20%E9%99%84%E5%BD%95) [Financial Statements](index=8&type=section&id=4.1%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This appendix contains the unaudited Q3 2018 consolidated and parent company balance sheets, income statements, and cash flow statements [Consolidated Balance Sheet](index=8&type=section&id=%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of September 30, 2018, consolidated total assets were RMB 2.81 billion, with a stable balance sheet structure compared to the beginning of the year Key Items from Consolidated Balance Sheet (As of Sep 30, 2018) | Item | Period End Balance (RMB) | Beginning of Year Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 2,811,705,740.75 | 2,784,029,217.34 | | Total Liabilities | 844,804,523.62 | 843,311,950.30 | | Total Equity Attributable to Parent Company | 1,829,584,849.93 | 1,810,320,388.98 | | Total Shareholders' Equity | 1,966,901,217.13 | 1,940,717,267.04 | [Parent Company Balance Sheet](index=11&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of September 30, 2018, the parent company's total assets were RMB 2.06 billion, with a low debt-to-asset ratio and significant long-term equity investments Key Items from Parent Company Balance Sheet (As of Sep 30, 2018) | Item | Period End Balance (RMB) | Beginning of Year Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 2,062,872,082.63 | 2,027,047,077.23 | | Total Liabilities | 410,082,221.83 | 421,785,107.55 | | Total Shareholders' Equity | 1,652,789,860.80 | 1,605,261,969.68 | [Consolidated Income Statement](index=13&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) For the first three quarters of 2018, consolidated revenue grew 9.14% YoY to RMB 1.04 billion, while net profit attributable to the parent company slightly decreased Key Items from Consolidated Income Statement (Jan-Sep 2018) | Item | Current Period Amount (RMB) | Prior Year Period Amount (RMB) | | :--- | :--- | :--- | | I. Total Operating Revenue | 1,039,213,500.71 | 952,194,848.07 | | II. Total Operating Costs | 1,007,513,943.83 | 907,490,380.02 | | III. Operating Profit | 63,719,840.43 | 66,394,319.31 | | V. Net Profit | 54,593,499.62 | 55,536,214.06 | | Net Profit Attributable to Parent Company | 46,681,498.47 | 47,431,374.67 | | Basic Earnings Per Share (RMB/Share) | 0.0576 | 0.0585 | [Parent Company Income Statement](index=16&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E5%88%A9%E6%B6%A6%E8%A1%A8) The parent company's net profit for the first three quarters of 2018 increased by 150.85% YoY, primarily driven by investment income of RMB 89.22 million Key Items from Parent Company Income Statement (Jan-Sep 2018) | Item | Current Period Amount (RMB) | Prior Year Period Amount (RMB) | | :--- | :--- | :--- | | Investment Income | 89,219,302.59 | 45,313,079.25 | | II. Operating Profit | 74,294,621.32 | 28,729,994.12 | | IV. Net Profit | 74,294,638.49 | 29,615,273.61 | [Consolidated Cash Flow Statement](index=18&type=section&id=%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) Net cash flow from operating activities for the first three quarters of 2018 improved significantly but remained negative at RMB -79.03 million Key Items from Consolidated Cash Flow Statement (Jan-Sep 2018) | Item | Current Period Amount (RMB) | Prior Year Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -79,034,837.26 | -160,393,576.79 | | Net Cash Flow from Investing Activities | -4,138,320.61 | 233,116,726.00 | | Net Cash Flow from Financing Activities | -34,584,577.80 | -51,101,212.48 | | Net Increase in Cash and Cash Equivalents | -117,757,950.61 | 21,621,700.64 | [Parent Company Cash Flow Statement](index=20&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) The parent company's net cash flow from operating activities turned positive to RMB 19.51 million in the first three quarters of 2018 Key Items from Parent Company Cash Flow Statement (Jan-Sep 2018) | Item | Current Period Amount (RMB) | Prior Year Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 19,512,335.15 | -14,547,490.68 | | Net Cash Flow from Investing Activities | 8,588,947.65 | 198,810,909.60 | | Net Cash Flow from Financing Activities | -26,778,658.25 | -46,739,190.83 | | Net Increase in Cash and Cash Equivalents | 1,322,624.55 | 137,524,228.09 | [Audit Report](index=21&type=section&id=4.2%20%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) This quarterly financial report has not been audited - The applicability selection indicates that an audit report is **not applicable** to this report[35](index=35&type=chunk)

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 707,687,015.53, representing a 19.39% increase compared to CNY 592,734,049.02 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 39,265,660.47, up 9.43% from CNY 35,883,048.08 year-on-year[19]. - The net cash flow from operating activities was CNY 11,615,591.31, a significant recovery from a negative cash flow of CNY -106,163,968.29 in the previous year[19]. - Basic earnings per share for the first half of 2018 were CNY 0.0484, a 9.50% increase from CNY 0.0442 in the same period last year[20]. - The company reported a decrease of 6.46% in net profit after deducting non-recurring gains and losses, amounting to CNY 27,018,120.98 compared to CNY 28,884,323.64 in the previous year[19]. - The company achieved total assets of CNY 2,827.52 million, a year-on-year increase of 1.56%[34]. - Revenue for the period reached CNY 707.69 million, representing a year-on-year growth of 19.39%[36]. - Net profit attributable to shareholders was CNY 39.27 million, up 9.43% compared to the previous year[34]. - The company's operating costs increased by 28.95% to CNY 559.88 million, outpacing revenue growth due to a higher proportion of low-margin trade products[36][38]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,827,519,451.14, reflecting a 1.56% increase from CNY 2,784,029,217.34 at the end of the previous year[19]. - The total current assets increased to ¥1,991,216,574.33 from ¥1,948,449,351.21, reflecting a growth of approximately 2.4%[78]. - Total liabilities increased to ¥869,652,838.33 from ¥843,311,950.30, reflecting a growth of about 3.13%[79]. - Current liabilities totaled ¥827,997,680.92, an increase from ¥805,716,026.25, representing a rise of about 2.87%[79]. - Non-current liabilities amounted to ¥41,655,157.41, compared to ¥37,595,924.05, indicating an increase of approximately 10.93%[79]. - Owner's equity reached ¥1,957,866,612.81, up from ¥1,940,717,267.04, showing a growth of around 0.88%[80]. Cash Flow - The company reported a significant increase in cash flow from operating activities, indicating improved operational efficiency and financial health[93]. - Operating cash inflow for the first half of 2018 was RMB 736,312,413.95, an increase of 53.1% compared to RMB 480,989,081.18 in the same period last year[93]. - Cash and cash equivalents at the end of the period totaled RMB 686,044,500.03, up from RMB 450,311,097.30 at the end of the previous year[94]. - The net increase in cash and cash equivalents for the period was RMB 258,207,432.95, compared to RMB 151,532,837.54 in the previous year[94]. - Cash flow from financing activities showed a net inflow of RMB 3,691,400.04, recovering from a net outflow of RMB 27,640,022.85 in the previous year[94]. Government Subsidies and Grants - The company received government subsidies amounting to CNY 6,460,220.55, primarily from tax refunds[22]. - Government grants related to assets are recognized as deferred income and amortized over the useful life of the related assets[192]. - Government grants related to income are recognized as deferred income and included in profit or loss when the related costs or losses are recognized[193]. Subsidiaries and Market Position - The company operates in the manufacturing industry, specifically in electrical machinery and equipment manufacturing, with a focus on power distribution and control equipment, and electromagnetic wire[24]. - The company has eleven wholly-owned subsidiaries and two equity investees, employing a "sales-driven production" model to meet diverse customer needs[24]. - The company’s subsidiary, Suzhou Guanlong Electromagnetic Wire Co., Ltd., specializes in high-end electromagnetic wire, serving major heavy-duty motor manufacturers in China[26]. - The pump industry, where the company operates through Tianjin Pump Machinery Group, is currently in a mature phase, focusing on high-end customization and cost control[27]. - The company is actively involved in superconducting technology, with its subsidiary, Beijing Inna Superconducting Technology Co., Ltd., recognized for its development of high-performance superconducting materials[28]. Risks and Strategic Initiatives - The company faces risks including policy changes, raw material price fluctuations, and accounts receivable risks, which could impact profitability[48]. - The company plans to enhance strategic cooperation with suppliers to mitigate raw material cost increases and strengthen product profitability through innovation[48]. - The company is undergoing a transformation to improve efficiency and profitability, particularly addressing underperforming subsidiaries[50]. - Talent acquisition and retention are critical as the company expands, with a focus on optimizing incentive mechanisms to attract skilled personnel[51]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 23,060[69]. - The largest shareholder, Tianjin Hydraulic Machinery (Group) Co., Ltd., holds 414,004,907 shares, representing 51.04% of total shares[70]. - Tianjin Baili Machinery Equipment Group Co., Ltd. holds 18,689,008 shares, accounting for 2.30% of total shares, with 12,682,553 shares subject to lock-up[70]. Accounting Policies and Financial Reporting - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that financial statements reflect the true financial condition and operating results[117]. - The company includes all subsidiaries in its consolidated financial statements based on control, ensuring a comprehensive view of its financial status[122]. - The company recognizes cash and cash equivalents as cash on hand and deposits that are readily available for payment[131]. - The company assesses the carrying value of financial assets at the balance sheet date and recognizes impairment losses if there is objective evidence of impairment[142]. Legal Matters - The company has a pending lawsuit involving Tianjin Rui and the amount involved is 17,469.28 thousand RMB, with a civil judgment already in effect[61]. - As of December 31, 2017, the company has made a bad debt provision of 98,317.1 thousand RMB for the aforementioned lawsuit[62].