Financial Performance - The company's operating revenue for the first half of 2020 was ¥104,365,006.13, a decrease of 50.02% compared to ¥208,807,390.26 in the same period last year[20]. - The net profit attributable to shareholders was -¥9,521,261.59, compared to -¥7,923,011.17 in the previous year, indicating a continued loss[20]. - The net cash flow from operating activities was ¥2,862,434.29, a significant improvement from -¥6,052,238.09 in the same period last year[20]. - The total assets at the end of the reporting period were ¥405,218,701.87, down 1.33% from ¥410,692,699.22 at the end of the previous year[20]. - The net assets attributable to shareholders decreased by 5.69% to ¥157,871,574.57 from ¥167,392,836.16 at the end of the previous year[20]. - The basic earnings per share for the first half of 2020 was -¥0.0591, compared to -¥0.0492 in the same period last year[21]. - The weighted average return on net assets was -5.85%, a decrease of 2.37 percentage points from -3.48% in the previous year[21]. - The total comprehensive loss for the first half of 2020 was ¥9,520,272.75, compared to a loss of ¥7,655,800.41 in the first half of 2019[96]. - The net loss for the first half of 2020 was ¥9,521,269.87, compared to a net loss of ¥7,923,803.30 in the first half of 2019, representing a deterioration of 20.2%[92]. Revenue and Costs - Operating costs decreased by 55.79% to approximately ¥88.82 million from ¥200.89 million, corresponding to the decline in revenue[39]. - Total operating costs for the first half of 2020 were ¥115,025,608.10, down 49.3% from ¥226,385,472.84 in the same period last year[91]. - Research and development expenses increased by 211.61% to approximately ¥3.41 million from ¥1.09 million, reflecting a significant increase in R&D investment[39]. - Research and development expenses increased significantly to ¥3,407,936.48, up 211.5% from ¥1,093,655.05 in the first half of 2019[91]. Government Support - The company received government subsidies amounting to ¥2,737,000.00, which are closely related to its normal business operations[22]. - The company received increased government grant income, with other income rising to approximately ¥400,580 from ¥1,600.12, marking a significant increase[39]. Assets and Liabilities - Total current assets as of June 30, 2020, amount to ¥334,358,315.06, a slight decrease from ¥338,577,638.04 at the end of 2019[82]. - Cash and cash equivalents are reported at ¥37,219,645.50, down from ¥82,208,713.55 in December 2019[82]. - Accounts receivable increased to ¥157,448,055.14 from ¥115,266,790.43 year-over-year[82]. - Total liabilities increased to CNY 251,083,159.54, up from CNY 247,035,887.02, reflecting a growth of approximately 0.84%[89]. - Current liabilities totaled CNY 228,543,629.62, compared to CNY 222,936,006.56, indicating an increase of about 2.73%[89]. Shareholder Information - The total number of ordinary shareholders reached 22,367 by the end of the reporting period[72]. - The top shareholder, Beijing Zhongyou Asset Management Co., holds 53,128,388 shares, representing 32.98% of total shares[74]. - The second largest shareholder, Postal Science Research Planning Institute, holds 10,229,332 shares, accounting for 6.35%[74]. Strategic Developments - The company achieved a substantial growth in platform operation service contracts compared to the same period last year, indicating a breakthrough in this business segment[33]. - The software development business has seen a notable upgrade in productization and platformization, with successful pilot launches in several provinces[33]. - The company is focusing on integrating new technologies such as blockchain, IoT, big data, and AI into its software and integrated projects, driving innovation[29]. - The establishment of a technology development center indicates a strategic focus on enhancing R&D capabilities[52]. Financial Management - The company has implemented a funding plan to enhance capital efficiency and control key accounts receivable, resulting in cost savings[35]. - The company has proposed no profit distribution or capital reserve fund transfer for the half-year period, with no dividends or stock bonuses planned[56]. - The company continues to employ Tianzhi International Accounting Firm for financial and internal control audits for the year 2020[59]. Accounting Policies - The company has implemented changes in accounting policies effective from January 1, 2020, in accordance with the revised revenue recognition standards[68]. - The company’s accounting policies comply with the latest enterprise accounting standards, ensuring accurate reflection of financial status and operating results[127]. - The company regularly reviews significant accounting judgments and estimates, impacting the reported amounts of income, expenses, assets, and liabilities[198]. Impairment and Losses - The company incurred asset impairment losses of ¥2,512,638.99 in the first half of 2020, down from ¥4,101,532.89 in the same period last year[95]. - The company reported a fair value loss of ¥5,481,182.52 in the first half of 2020, compared to a gain of ¥4,947,616.08 in the first half of 2019[95]. Market Conditions - The company faced challenges due to the pandemic, impacting project timelines and revenue generation[52]. - The overall financial performance indicates a challenging environment, with a focus on stabilizing equity and managing reserves[109].

[Important Notice](index=3&type=section&id=%E4%B8%80%E3%80%81%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) This section provides essential disclaimers regarding the unaudited nature of the report and the responsibilities of the board and management [Unaudited Report Statement](index=3&type=section&id=1.1%20%E6%8A%A5%E5%91%8A%E6%9C%AA%E7%BB%8F%E5%AE%A1%E8%AE%A1%E5%A3%B0%E6%98%8E) The company's first quarter 2020 report is unaudited - The company's first quarter report is **unaudited**[5](index=5&type=chunk) [Board of Directors and Management Statement](index=3&type=section&id=1.2%20%E8%91%A3%E4%BA%8B%E4%BC%9A%E5%8F%8A%E7%AE%A1%E7%90%86%E5%B1%82%E5%A3%B0%E6%98%8E) The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content, assuming legal responsibility; the company's head, chief accountant, and head of accounting department also ensure the financial statements' truthfulness, accuracy, and completeness - The company's board of directors, supervisory board, directors, supervisors, and senior management guarantee the **truthfulness, accuracy, and completeness** of the quarterly report content, free from false records, misleading statements, or major omissions, and assume individual and joint legal responsibility[8](index=8&type=chunk) - Company head Dong Zhihong, chief accountant Liu Zhaohui, and head of accounting department Zhu Jianying guarantee the **truthfulness, accuracy, and completeness** of the financial statements in the quarterly report[8](index=8&type=chunk) [Company Profile](index=3&type=section&id=%E4%BA%8C%E3%80%81%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) This section provides an overview of the company's key financial performance and shareholding structure as of the reporting period [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) As of the end of Q1 2020, the company's total assets and net assets attributable to shareholders both decreased year-over-year; operating revenue and net profit significantly declined, with net profit attributable to shareholders turning from profit to loss, and weighted average ROE and basic EPS also deteriorated significantly Key Financial Data Overview (As of Q1 2020) | Indicator | Current Period End/Year-to-Date | Prior Year End/Prior Year-to-Date | Change (%) | | :--- | :--- | :--- | :--- | | **Balance Sheet (Period End):** | | | | | Total Assets | 369,013,407.70 CNY | 410,692,699.22 CNY | -10.15 | | Net Assets Attributable to Shareholders | 153,181,687.16 CNY | 167,392,836.16 CNY | -8.49 | | **Income Statement (Year-to-Date):** | | | | | Operating Revenue | 20,607,011.88 CNY | 134,689,786.44 CNY | -84.70 | | Net Profit Attributable to Shareholders | -14,211,149.00 CNY | 4,127,955.46 CNY | -444.27 | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | -10,923,871.98 CNY | 2,588,755.46 CNY | -521.97 | | Weighted Average ROE (%) | -0.09 | 1.77 | Decrease by 1.86 percentage points | | Basic EPS (CNY/share) | -0.088 | 0.026 | -438.46 | | Diluted EPS (CNY/share) | -0.088 | 0.026 | -438.46 | | **Cash Flow Statement (Year-to-Date):** | | | | | Net Cash Flow from Operating Activities | -488,447.98 CNY | -44,282,488.85 CNY | Not applicable | [Non-recurring Gains and Losses Items](index=3&type=section&id=2.1.2%20%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE) During the reporting period, the company's total non-recurring gains and losses amounted to -3,287,277.02 CNY, primarily comprising government subsidies of 1,587,000.00 CNY recognized in current profit or loss, and fair value changes in financial assets of -6,499,809.36 CNY Non-recurring Gains and Losses Items and Amounts | Item | Amount (CNY) | | :--- | :--- | | Government subsidies recognized in current profit or loss | 1,587,000.00 | | Fair value changes and investment gains/losses from disposal of financial assets, derivative financial assets, etc | -6,499,809.36 | | Other non-operating income and expenses | 580.00 | | Income tax impact | 1,624,952.34 | | **Total** | **-3,287,277.02** | [Shareholding Information](index=4&type=section&id=2.2%20%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5) As of the end of the reporting period, the company had 24,492 shareholders; the top two shareholders, Beijing China Post Asset Management Co., Ltd. and Postal Science Research and Planning Institute, both state-owned legal entities, collectively held nearly 40% and are related parties - As of the end of the reporting period, the total number of shareholders was **24,492**[11](index=11&type=chunk) Top Ten Shareholders' Shareholding Information | Shareholder Name | Shares Held at Period End (shares) | Proportion (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | Beijing China Post Asset Management Co., Ltd. | 53,128,388 | 32.98 | State-owned Legal Entity | | Postal Science Research and Planning Institute | 10,229,332 | 6.35 | State-owned Legal Entity | | Jiangxi Ganyue Expressway Co., Ltd. | 6,864,000 | 4.26 | State-owned Legal Entity | | Wei Ran | 1,280,000 | 0.79 | Other | | Sun Mei | 1,221,000 | 0.76 | Other | | Chen Jiafu | 1,195,100 | 0.74 | Other | | Ye Xiaoyan | 765,200 | 0.48 | Other | | Tian Cheng | 723,300 | 0.45 | Other | | Sun Xitang | 668,300 | 0.41 | Other | | Yao Wei | 438,100 | 0.27 | Other | - Beijing China Post Asset Management Co., Ltd. and Postal Science Research and Planning Institute are both subsidiaries of China Post Group Co., Ltd., have **related party relationships**, and are considered parties acting in concert[12](index=12&type=chunk) [Significant Events](index=5&type=section&id=%E4%B8%89%E3%80%81%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section outlines significant changes in key financial statement items and indicators, along with other important corporate matters [Significant Changes and Reasons for 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) During the reporting period, several financial indicators underwent significant changes: cash and cash equivalents decreased due to loan repayments, while prepayments and advances from customers increased due to extended settlement cycles; operating revenue and costs sharply declined from reduced product sales, and net profit turned to loss due to operating losses and fair value declines of financial assets; cash received from sales and paid for purchases both significantly decreased, yet net cash flow from operating activities improved despite remaining negative [Balance Sheet Item Variation Analysis](index=5&type=section&id=3.1.1%20%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8%E9%A1%B9%E7%9B%AE%E5%8F%98%E5%8A%A8%E5%88%86%E6%9E%90) Cash and cash equivalents decreased by 35.42% year-over-year primarily due to bank loan repayments; prepayments increased by 76.21% mainly due to goods paid for but not yet invoiced; advances from customers increased by 84.14% due to uncompleted project settlements not yet recognized as revenue; and employee compensation payable decreased by 87.36% mainly due to salary payments Major Balance Sheet Item Changes | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | Change Rate (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 53,090,669.12 | 82,208,713.55 | -35.42 | Primarily due to bank loan repayments during the reporting period | | Prepayments | 7,750,526.23 | 4,398,378.41 | 76.21 | Primarily due to prepayments for goods under contract not yet invoiced during the reporting period | | Advances from Customers | 2,175,154.89 | 1,181,245.25 | 84.14 | Primarily due to uncompleted project settlements not yet recognized as revenue during the reporting period | | Employee Compensation Payable | 595,669.75 | 4,711,504.25 | -87.36 | Primarily due to salary payments during the reporting period | [Income Statement and Cash Flow Statement Item Variation Analysis](index=6&type=section&id=3.1.2%20%E5%88%A9%E6%B6%A6%E8%A1%A8%E5%92%8C%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8%E9%A1%B9%E7%9B%AE%E5%8F%98%E5%8A%A8%E5%88%86%E6%9E%90) Operating revenue and costs decreased by 84.70% and 84.40% year-over-year, respectively, mainly due to reduced product sales; R&D expenses increased by 322.72%, indicating increased investment; fair value change income decreased by 155.13% due to falling Changsha Bank stock prices; net profit turned to loss, decreasing by 444.27%; both operating cash inflows and outflows significantly reduced, yet net cash flow from operating activities saw a narrowed loss Major Income Statement and Cash Flow Statement Item Changes | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | Change Rate (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | | **Income Statement:** | | | | | | Operating Revenue | 20,607,011.88 | 134,689,786.44 | -84.70 | Primarily due to decreased product sales revenue during the reporting period | | Operating Cost | 20,114,918.96 | 128,924,544.32 | -84.40 | Primarily due to corresponding cost reduction caused by decreased revenue during the reporting period | | Taxes and Surcharges | 565,898.97 | 362,285.35 | 56.20 | Primarily due to increased urban construction tax and education surcharge during the reporting period | | Selling Expenses | 2,013,782.50 | 2,907,980.78 | -30.75 | Primarily due to reduced travel expenses impacted by the epidemic during the reporting period | | R&D Expenses | 2,178,670.21 | 515,398.26 | 322.72 | Primarily due to the company's increased R&D investment during the reporting period | | Fair Value Change Income | -6,499,809.36 | 11,789,967.72 | -155.13 | Primarily due to the decline in Changsha Bank's stock price during the reporting period | | Net Profit | -14,211,149.00 | 4,127,915.74 | -444.27 | Primarily due to operating losses and the decline in Changsha Bank's stock price during the reporting period | | **Cash Flow Statement:** | | | | | | Cash Received from Sales of Goods and Services | 18,434,137.03 | 185,538,664.10 | -90.06 | Primarily due to decreased payments received for goods during the reporting period | | Cash Paid for Goods and Services | 6,643,329.28 | 66,257,634.14 | -89.97 | Primarily due to decreased payments made for goods during the reporting period | | Taxes Paid | 2,042,169.20 | 4,466,804.74 | -54.28 | Primarily due to decreased VAT paid during the reporting period | | Other Cash Payments Related to Operating Activities | 3,693,349.83 | 143,346,889.15 | -97.42 | Primarily due to the purchase of bank time deposits in the previous reporting period | | Cash Paid for Acquisition of Fixed Assets, Intangible Assets, and Other Long-term Assets | 12,168.14 | 117,448.73 | -89.64 | Primarily due to decreased acquisition of fixed assets during the reporting period | [Other Significant Matters](index=7&type=section&id=3.2%20%E5%85%B6%E4%BB%96%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) During the reporting period, the company had no significant event progress, impact analysis, or solutions, no overdue unfulfilled commitments, and issued no warnings regarding potential cumulative net loss or significant changes in net profit from the beginning of the year to the end of the next reporting period - There was **no analysis or explanation** of the progress, impact, or solutions for significant matters during the reporting period[17](index=17&type=chunk) - There were **no overdue unfulfilled commitments** during the reporting period[17](index=17&type=chunk) - The company did not issue any warnings or explanations regarding a potential cumulative net loss or significant change in net profit from the beginning of the year to the end of the next reporting period compared to the same period last year[17](index=17&type=chunk) [Appendix](index=7&type=section&id=%E5%9B%9B%E3%80%81%E9%99%84%E5%BD%95) This section contains the financial statements, details on the implementation of new accounting standards, and the status of the audit report [Financial Statements](index=7&type=section&id=4.1%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section presents the company's consolidated and parent company balance sheets, income statements, and cash flow statements for Q1 2020, detailing the financial position, operating results, and cash flows at the end of the reporting period [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 March 31, 2020, the company's consolidated total assets were 369,013,407.70 CNY, a 10.15% decrease from year-end 2019; total current assets were 297,614,082.64 CNY, total non-current assets were 71,399,325.06 CNY; total liabilities were 215,802,014.30 CNY, and total owner's equity was 153,211,393.40 CNY Consolidated Balance Sheet Overview (As of March 31, 2020) | Item | March 31, 2020 (CNY) | December 31, 2019 (CNY) | | :--- | :--- | :--- | | **Assets:** | | | | Total Current Assets | 297,614,082.64 | 338,577,638.04 | | Total Non-current Assets | 71,399,325.06 | 72,115,061.18 | | **Total Assets** | **369,013,407.70** | **410,692,699.22** | | **Liabilities:** | | | | Total Current Liabilities | 193,327,086.18 | 219,170,276.36 | | Total Non-current Liabilities | 22,474,928.12 | 24,099,880.46 | | **Total Liabilities** | **215,802,014.30** | **243,270,156.82** | | **Shareholders' Equity:** | | | | Total Equity Attributable to Parent Company Shareholders | 153,181,687.16 | 167,392,836.16 | | Non-controlling Interests | 29,706.24 | 29,706.24 | | **Total Shareholders' Equity** | **153,211,393.40** | **167,422,542.40** | | **Total Liabilities and Shareholders' Equity** | **369,013,407.70** | **410,692,699.22** | [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 March 31, 2020, the parent company's total assets were 380,773,326.27 CNY, a 9.86% decrease from year-end 2019; total current assets were 297,492,233.20 CNY, total non-current assets were 83,281,093.07 CNY; total liabilities were 219,567,744.50 CNY, and total owner's equity was 161,205,581.77 CNY Parent Company Balance Sheet Overview (As of March 31, 2020) | Item | March 31, 2020 (CNY) | December 31, 2019 (CNY) | | :--- | :--- | :--- | | **Assets:** | | | | Total Current Assets | 297,492,233.20 | 338,455,788.60 | | Total Non-current Assets | 83,281,093.07 | 83,996,829.19 | | **Total Assets** | **380,773,326.27** | **422,452,617.79** | | **Liabilities:** | | | | Total Current Liabilities | 197,092,816.38 | 222,936,006.56 | | Total Non-current Liabilities | 22,474,928.12 | 24,099,880.46 | | **Total Liabilities** | **219,567,744.50** | **247,035,887.02** | | **Shareholders' Equity:** | | | | Total Shareholders' Equity | 161,205,581.77 | 175,416,730.77 | | **Total Liabilities and Shareholders' Equity** | **380,773,326.27** | **422,452,617.79** | [Consolidated Income Statement](index=14&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) In Q1 2020, the company's consolidated total operating revenue was 20,607,011.88 CNY, a significant year-over-year decrease of 84.70%; net profit was -14,211,149.00 CNY, turning from profit to loss, with basic EPS at -0.088 CNY/share Consolidated Income Statement Overview (Q1 2020) | Item | Q1 2020 (CNY) | Q1 2019 (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 20,607,011.88 | 134,689,786.44 | | Total Operating Costs | 31,530,883.86 | 140,943,546.49 | | Operating Profit | -15,836,681.34 | 7,075,407.67 | | Total Profit | -15,836,101.34 | 7,075,407.67 | | Income Tax Expense | -1,624,952.34 | 2,947,491.93 | | **Net Profit** | **-14,211,149.00** | **4,127,915.74** | | Net Profit Attributable to Parent Company Shareholders | -14,211,149.00 | 4,127,955.46 | | Basic EPS (CNY/share) | -0.088 | 0.026 | | Diluted EPS (CNY/share) | -0.088 | 0.026 | [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) In Q1 2020, the parent company's operating revenue was 20,607,011.88 CNY, a significant year-over-year decrease; net profit was -14,211,149.00 CNY, turning from profit to loss Parent Company Income Statement Overview (Q1 2020) | Item | Q1 2020 (CNY) | Q1 2019 (CNY) | | :--- | :--- | :--- | | Operating Revenue | 20,607,011.88 | 134,689,786.44 | | Operating Profit | -15,836,681.34 | 7,080,193.73 | | Total Profit | -15,836,101.34 | 7,080,193.73 | | Income Tax Expense | -1,624,952.34 | 2,947,491.93 | | **Net Profit** | **-14,211,149.00** | **4,132,701.80** | [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) In Q1 2020, the company's net cash flow from operating activities was -488,447.98 CNY, a significant improvement from -44,282,488.85 CNY in the prior year; net cash flow from investing activities was -12,168.14 CNY, and net cash flow from financing activities was -21,575,555.55 CNY, primarily due to debt repayment Consolidated Cash Flow Statement Overview (Q1 2020) | Item | Q1 2020 (CNY) | Q1 2019 (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -488,447.98 | -44,282,488.85 | | Net Cash Flow from Investing Activities | -12,168.14 | -117,448.73 | | Net Cash Flow from Financing Activities | -21,575,555.55 | -1,600,561.63 | | Net Increase in Cash and Cash Equivalents | -22,076,171.67 | -46,000,499.21 | | Cash and Cash Equivalents at Period End | 45,366,684.36 | 26,121,896.09 | [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) In Q1 2020, the parent company's net cash flow from operating activities was -488,447.98 CNY, net cash flow from investing activities was -12,168.14 CNY, and net cash flow from financing activities was -21,575,555.55 CNY; cash and cash equivalents at period end amounted to 45,340,604.92 CNY Parent Company Cash Flow Statement Overview (Q1 2020) | Item | Q1 2020 (CNY) | Q1 2019 (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -488,447.98 | -44,282,488.85 | | Net Cash Flow from Investing Activities | -12,168.14 | -117,448.73 | | Net Cash Flow from Financing Activities | -21,575,555.55 | -1,600,561.63 | | Net Increase in Cash and Cash Equivalents | -22,076,171.67 | -46,000,499.21 | | Cash and Cash Equivalents at Period End | 45,340,604.92 | 25,893,218.88 | [Implementation of New Accounting Standards](index=21&type=section&id=4.2%20%E6%96%B0%E4%BC%9A%E8%AE%A1%E5%87%86%E5%88%99%E6%89%A7%E8%A1%8C%E6%83%85%E5%86%B5) Starting in 2020, the company first implemented new revenue and lease accounting standards but did not adjust the opening financial statements of the first implementation year or retrospectively adjust prior comparative data - The company **did not adjust** the opening financial statements for the year of initial implementation of the new revenue and lease accounting standards[37](index=37&type=chunk) - The company **did not retrospectively adjust** prior comparative data[37](index=37&type=chunk) [Audit Report](index=21&type=section&id=4.3%20%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) This quarterly report does not include an audit report - This quarterly report **does not include an audit report**[37](index=37&type=chunk)

Financial Performance - In 2019, the company reported a revenue of ¥294,797,161.45, a decrease of 5.02% compared to ¥310,363,836.99 in 2018[21]. - The net profit attributable to shareholders was -¥64,235,909.56, a significant decline from a profit of ¥1,634,640.81 in 2018, representing a decrease of 4,029.67%[21]. - The net profit after deducting non-recurring gains and losses was -¥68,891,082.32, compared to -¥2,355,035.88 in the previous year[21]. - Basic earnings per share for 2019 was -0.399 CNY, a decrease of 4,088.00% compared to 0.010 CNY in 2018[22]. - The weighted average return on equity decreased by 33.01 percentage points to -32.20% in 2019 from 0.810% in 2018[22]. - The company reported a net profit attributable to the parent company of -64,235,909.56 RMB for 2019, resulting in a total distributable profit of -143,019,319.66 RMB, leading to no profit distribution for the year[82]. - The company reported a net loss of ¥63,897,478.15 for 2019, compared to a net profit of ¥3,435,327.51 in 2018, indicating a significant decline in profitability[178]. - Total operating revenue decreased to ¥294,797,161.45 in 2019 from ¥310,363,836.99 in 2018, reflecting a year-over-year decline of approximately 5.5%[178]. - Operating profit for 2019 was a loss of CNY 62,953,172.46, compared to a profit of CNY 1,784,050.95 in 2018[175]. - The company recorded a total comprehensive loss of ¥63,897,478.15 for the year, contrasting with a comprehensive income of ¥33,261,844.73 in the previous year[179]. Cash Flow and Liquidity - The cash flow from operating activities was positive at ¥4,026,945.99, recovering from a negative cash flow of -¥4,609,013.93 in 2018[21]. - The company reported a net cash flow from operating activities of -44,282,488.85 CNY for the year 2019[24]. - The net cash flow from operating activities for 2019 was ¥4,026,945.99, a significant improvement from a net outflow of ¥4,609,013.93 in 2018[182]. - Total cash inflow from operating activities increased to ¥416,233,556.65 in 2019, up from ¥333,474,018.39 in 2018, representing a growth of approximately 25%[182]. - The total cash outflow for operating activities was ¥412,206,610.66 in 2019, up from ¥338,083,032.32 in 2018, reflecting a 22% increase[182]. Assets and Liabilities - Total assets decreased by 23.32% to ¥410,692,699.22 from ¥535,588,183.00 in 2018[21]. - Total liabilities decreased to CNY 243,270,156.82 from CNY 303,927,264.89 in 2018, reflecting a reduction of about 20%[169]. - The company's cash and cash equivalents were CNY 82,208,713.55, down from CNY 98,732,359.24 in the previous year, indicating a decrease of approximately 16.7%[167]. - Accounts receivable decreased significantly to CNY 115,266,790.43 from CNY 180,506,494.81, a decline of about 36.2%[167]. - The company's total equity decreased to CNY 167,422,542.40 from CNY 231,660,918.11, a decline of about 27.7%[169]. Research and Development - Research and development expenses increased by 206.20% to CNY 8.64 million, driven by the company's transformation and development efforts[45]. - The company has established a comprehensive product development system, integrating product definition, technical breakthroughs, prototype development, iterative development, joint debugging, testing, and operational promotion[33]. - The company reported a significant increase in research and development expenses, rising to ¥8,637,495.84 in 2019, compared to ¥2,820,909.00 in 2018, marking an increase of approximately 206%[178]. Business Strategy and Operations - The company plans not to distribute profits for 2019 due to negative retained earnings of -¥143,019,319.66[5]. - The management highlighted potential risks related to market conditions and customer demand in their future outlook[7]. - The company achieved a 135% increase in new contract amounts for financial software business compared to the previous year[32]. - The platform operation service business adopted a "platform+" model, focusing on new business growth points related to vehicle operations[31]. - The company is actively developing new generation software platforms, including a new stamp collection platform and a geographic resource information platform[32]. Governance and Compliance - The audit report issued by Tianzhi International Accounting Firm confirmed the financial statements without reservations[4]. - The company emphasized its commitment to corporate governance and compliance with laws and regulations, ensuring fair information disclosure to all shareholders[105]. - The company has maintained compliance with information disclosure regulations, ensuring equal access to information for all investors[140]. - The company has not disclosed any non-standard audit opinions or significant accounting policy changes during the reporting period[87]. Shareholder Information - The total number of common stock shareholders at the end of the reporting period is 26,283, an increase from 24,492 at the end of the previous month[110]. - The largest shareholder, Beijing Zhongyou Asset Management Co., Ltd., holds 53,128,388 shares, representing 32.98% of total shares[112]. - The company has not reported any significant changes in shareholding for the current year among directors and senior management[121]. Legal Matters - The company successfully won a lawsuit against Tiande Real Estate Development Co., Ltd. for a cooperation payment of 5,782,000 CNY plus interest and legal fees, with the court ruling that Tiande must pay within seven days of the judgment[96]. - The company has initiated legal proceedings to recover unpaid amounts totaling 2,020,000 CNY from Zhuzhou Xinglian Technology Co., Ltd.[94]. - The company has no outstanding court judgments or significant debts due as of the end of the reporting period[95].

2019 年第三季度报告 公司代码：600476 公司简称：湘邮科技 湖南湘邮科技股份有限公司 2019 年第三季度报告 单位：元 币种：人民币 1 / 27 3 / 27 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 8 | 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年 度末增减(%) 总资产 468,198,091.43 535,588,183.00 -12.58 归属于上市公司股东的净 资产 207,817,065.65 231,628,745.72 -10.28 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减 (%) 经营活动产生的现金流量 净额 -18,228,936.21 15,116,319.68 -220.59 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减 （%） 营业收入 224,142,530.58 170,386,313.68 31.55 归属于上市公司股东的净 利 ...

证券代码：600476 证券简称：湘邮科技 公告编号：2019-025 湖南湘邮科技股份有限公司 关于参加 2019 年湖南辖区上市公司投资者 网上集体接待日活动的公告 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个别及连带责任。 为进一步加强与投资者的互动交流，增强与投资者的联系，湖南 湘邮科技股份有限公司（以下简称"公司"）将参加由中国证券监督 管理委员会湖南监管局、湖南省上市公司协会和深圳市全景网络有限 公司联合举办的"2019年湖南辖区上市公司投资者网上集体接待日" 活动，现将有关事项公告如下： 本次投资者网上接待日活动将通过深圳市全景网络有限公司提 供的互联网平台举行，投资者可以登陆"全景·路演天下"网站 （http://rs.p5w.net ）或关注微信公众号（全景财经）参与本次投 资者网上接待日活动，活动时间为 2019 年 9 月 10 日（星期二）15:00 至 17:00。 公司出席本次活动的人员有：董事会秘书、财务部经理、证券事 务代表。 欢迎广大投资者积极参与。 特此公告！ 湖南湘邮科技股份有限公司董事会 20 ...

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 208,807,390.26, representing a 115.84% increase compared to CNY 96,741,899.44 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of CNY 7,923,011.17, a decrease of 2,315.21% compared to a profit of CNY 357,663.72 in the previous year[19]. - The net cash flow from operating activities was a negative CNY 6,052,238.09, an improvement from a negative CNY 16,741,128.03 in the same period last year[19]. - Basic earnings per share for the first half of 2019 were CNY -0.0492, a decrease of 2,336.36% compared to CNY 0.0022 in the same period last year[20]. - The weighted average return on net assets was -3.48%, a decrease of 3.66 percentage points compared to 0.18% in the previous year[20]. - The net profit for the first half of 2019 was -¥7.92 million, a significant decrease from a profit of ¥357,425.37 in the previous year, attributed to lower gross margins from product sales[37]. - The total comprehensive income for the first half of 2019 was a loss of CNY 7.92 million, compared to a comprehensive income of CNY 0.36 million in the first half of 2018[102]. Assets and Liabilities - The total assets decreased by 11.43% to CNY 474,396,377.06 from CNY 535,588,183.00 at the end of the previous year[19]. - The net assets attributable to shareholders decreased by 3.42% to CNY 223,705,734.55 from CNY 231,628,745.72 at the end of the previous year[19]. - Total liabilities were RMB 250,659,262.25, reduced from RMB 303,927,264.89, reflecting a decrease of about 17.5%[91]. - The company's equity attributable to shareholders decreased to RMB 223,705,734.55 from RMB 231,628,745.72, a decline of approximately 3.9%[92]. - Cash and cash equivalents were reported at RMB 62,765,085.13, down from RMB 98,732,359.24, representing a decrease of about 36.4%[90]. - Accounts receivable stood at RMB 168,585,540.35, slightly down from RMB 180,506,494.81, indicating a decrease of approximately 6.6%[90]. - The company’s total liabilities decreased from 231,660,911.72 RMB at the end of 2018 to 223,737,115.55 RMB at the end of the first half of 2019[112]. Revenue and Costs - Operating costs increased by 166.55% to ¥200.89 million from ¥75.36 million, primarily due to the rise in revenue[35]. - The company's total operating costs for the first half of 2019 were CNY 200.89 million, up from CNY 75.36 million in the same period of 2018[101]. - The company reported other income of CNY 2.36 million for the first half of 2019, down from CNY 3.28 million in the same period of 2018[101]. - The company incurred financial expenses of CNY 3.61 million in the first half of 2019, slightly up from CNY 3.59 million in the same period of 2018[101]. Government Support and Non-Recurring Items - The company received government subsidies amounting to CNY 2,362,200.00, which were included in the current period's profit[21]. - The total non-recurring gains and losses amounted to CNY 2,014,600.12 for the reporting period[22]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 31,398[73]. - The largest shareholder, Beijing Zhongyou Asset Management Co., Ltd., held 53,128,388 shares, representing 32.98% of total shares[75]. - The second-largest shareholder, Postal Science Research Planning Institute, held 10,229,332 shares, accounting for 6.35%[75]. Operational Developments - The company has signed operational service contracts with multiple logistics companies, enhancing its service offerings[31]. - The company has launched ten internal innovation projects focusing on smart security and intelligent terminal service products[26]. - The company is actively expanding its market presence by developing new projects and enhancing its marketing strategies[31]. Financial Management and Accounting - The company reported a management expense adjustment from CNY 12,897,858.87 to CNY 11,406,670.55, with R&D expenses now at CNY 1,491,188.32[67]. - The company implemented new financial instrument standards starting January 1, 2019, which included reclassifying previously classified available-for-sale financial assets to trading financial assets[69]. - The financial report was approved for release on August 23, 2019[130]. - The company has maintained its ability to continue as a going concern for at least 12 months from the end of the reporting period[133]. Compliance and Governance - The company has continued to appoint Tianzhi International Accounting Firm as the financial audit and internal control audit institution for the year 2019[58]. - There are no significant litigation or arbitration matters reported during the reporting period[58]. - The company has not faced any penalties or corrective actions from regulatory bodies during the reporting period[58]. Research and Development - Research and development expenses for the first half of 2019 were ¥1,093,655.05, compared to ¥1,491,188.32 in the same period of 2018, showing a decrease of approximately 26.7%[97]. - The company has established a comprehensive R&D system but faces risks related to technological innovation and talent retention[49]. Rental Income - The company reported rental income of 18,474.99 RMB from Hunan Junwei Enterprise Management Consulting Co., Ltd. for the lease of assets amounting to 164,959.65 RMB[63]. - The total rental income from various leases amounted to 512,136 RMB from Hunan Jiemian Information Technology Co., Ltd. for assets valued at 1,755,405.04 RMB[64]. - The company is actively managing its fixed assets through various lease agreements to enhance asset utilization[63].

2019 年第一季度报告 2019 年第一季度报告 公司代码：600476 公司简称：湘邮科技 湖南湘邮科技股份有限公司 2019 年第一季度报告 1 / 27 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 5 | | 四、 | 附录 8 | 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 | | 本报告期末 | 上年度末 | 本报告期末比上年 度末增减(%) | | | --- | --- | --- | --- | --- | | 总资产 | 612,754,631.35 | 535,588,183.00 | | 14.41 | | 归属于上市公司股东 | 235,756,701.18 | 231,628,745.72 | | 1.78 | | 的净资产 | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | | 经营活动产生的现金 | -44,282,488.85 | 10,664,122.97 | | -515.25 | | 流量净额 | | | | | | | 年初至报 ...

Financial Performance - The company achieved a net profit attributable to shareholders of 1,634,640.81 yuan in 2018, a decrease of 23.21% compared to 2,128,807.64 yuan in 2017[5]. - Total revenue for 2018 was 310,363,836.99 yuan, representing a year-on-year increase of 13.62% from 273,157,025.65 yuan in 2017[20]. - Basic earnings per share for 2018 were 0.010 yuan, down 23.08% from 0.013 yuan in 2017[21]. - The company reported a net cash flow from operating activities of -4,609,013.93 yuan in 2018, an improvement from -51,125,860.90 yuan in 2017[20]. - The company plans not to distribute profits for 2018 due to a negative retained earnings balance of -108,609,927.32 yuan[5]. - The weighted average return on net assets was 0.810% in 2018, a decrease of 0.26 percentage points from 1.07% in 2017[21]. - Net profit for the year was CNY 1.62 million, a decrease of 49.97% compared to the previous year[41]. - The company reported a net loss of CNY 108,609,927.32, slightly improved from a loss of CNY 110,244,568.13 in the previous year[174]. Assets and Liabilities - The total assets of the company rose by 30.88% to 535,588,183.00 yuan in 2018, up from 409,210,319.42 yuan in 2017[20]. - The company's net assets attributable to shareholders increased by 15.72% to 231,628,745.72 yuan at the end of 2018, compared to 200,167,587.69 yuan at the end of 2017[20]. - Total liabilities increased to CNY 303,927,264.89 from CNY 208,994,793.47, marking a rise of 45.4%[173]. - Current liabilities rose to CNY 283,585,092.48, up from CNY 198,594,793.47, which is an increase of 42.8%[173]. - The company's equity attributable to shareholders increased to CNY 231,628,745.72 from CNY 200,167,587.69, a growth of 15.7%[174]. Revenue and Cost Management - Operating costs increased by 16.60% to CNY 249.98 million, primarily due to the rise in revenue[43]. - The revenue from customized software increased by 47.74%, with a gross margin improvement of 41.62 percentage points[48]. - The company focused on the postal industry, resulting in a 66.16% decrease in revenue from other industries[47]. - The company implemented cost control measures, significantly reducing management and non-production expenses[40]. - Product sales revenue grew by 6.52% year-over-year, while costs increased by 17.26%, indicating a higher cost growth rate than revenue growth[53]. Research and Development - Total R&D expenditure was 2,820,909.00 RMB, representing 0.91% of operating revenue, with 181 R&D personnel making up 47% of the total workforce[58]. - Research and development expenses for 2018 were CNY 2,820,909.00, slightly down from CNY 3,060,648.12 in the previous year[180]. - The company has invested in new technology development, with a budget allocation of 3.61 million for research and development[108]. Market and Industry Trends - The software and information technology service industry in China achieved a total revenue of CNY 630.61 billion in 2018, with a year-on-year growth of 14.2%[32]. - The software industry is expected to continue thriving in 2019, driven by the integration of artificial intelligence and manufacturing sectors[33]. - The company holds a strong brand advantage as a leading enterprise in the postal industry, supported by its long-standing relationship with China Post[34]. Corporate Governance and Management - The company has a diverse board with members holding significant positions in other organizations, enhancing its strategic network[133]. - The company’s independent directors have backgrounds in academia and finance, contributing to governance and oversight[131]. - The company maintained effective internal control over financial reporting, as confirmed by the internal control audit conducted by Tianzhi International Accounting Firm[156]. - The company has not reported any changes in controlling shareholders during the reporting period, ensuring stability in ownership[123]. Legal and Compliance - The company is currently involved in significant litigation, including a case against Hunan Xiangyou Real Estate Co., Ltd., which has been ongoing since 2015[94]. - The company has a pending arbitration case with Shenzhen Jinyi Technology Co., Ltd., claiming a total of 1,184,810 RMB in unpaid goods and additional penalties[95]. - The company has not reported any instances of funds being occupied or overdue receivables during the reporting period, indicating strong financial management[88]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,028, a decrease from 24,501 at the end of the previous month[118]. - Beijing Zhongyou Asset Management Co., Ltd. holds 53,128,388 shares, representing a significant portion of the company's equity[120]. - The top three shareholders include Beijing Zhongyou Asset Management, Postal Science Research Planning Institute, and Jiangxi Ganyue Expressway Co., Ltd., collectively holding over 70 million shares[120]. Future Outlook - The company plans to achieve a revenue target of 330 million RMB and a net profit of 2.1 million RMB for 2019, excluding fair value changes and related tax impacts[79]. - The company anticipates a revenue growth of 13.36% in the upcoming fiscal year based on current contracts[108].

Financial Performance - Net profit attributable to shareholders decreased by 551.11% to a loss of CNY 10,891,148.52 for the first nine months[5] - Basic earnings per share dropped by 553.33% to -0.068 CNY per share[5] - Net profit decreased by 551.19% to -¥10,891,506.04 attributed to changes in product sales structure and lower gross margins[13] - Operating profit fell by 588.02% to -¥10,751,429.79 due to a different product sales structure compared to the previous year[13] - The company reported a net loss of CNY 116,020,599.52, worsening from a loss of CNY 105,172,168.02 in the previous period[24] - The company’s total profit for the first nine months of 2018 was a loss of ¥10,848,431.50, compared to a profit of ¥2,458,504.52 in the same period last year[32] Revenue and Income - Operating revenue for the first nine months increased by 2.50% to CNY 170,386,313.68 compared to the same period last year[5] - Non-operating income for the first nine months amounted to CNY 3,686,948.61, primarily from government subsidies[6] - Other income for the first nine months was CNY 3,827,076.78, compared to CNY 3,035,300.00 in the previous year, an increase of 26.1%[27] - The company reported a total revenue of ¥73,644,414.24 for Q3 2018, a decrease of 5.5% compared to ¥78,010,083.04 in Q3 2017[32] Assets and Liabilities - Total assets increased by 25.20% to CNY 512,331,623.33 compared to the end of the previous year[5] - Total assets increased to ¥512,331,623.33 from ¥409,210,319.42, reflecting overall growth in the company's financial position[18] - Total assets increased to CNY 522,261,397.48 from CNY 418,858,019.03, representing a growth of approximately 24.7%[23] - Current assets rose to CNY 434,615,756.30, up from CNY 329,895,970.78, indicating a 31.8% increase[23] - Total liabilities increased to CNY 327,057,464.79 from CNY 212,805,654.84, reflecting a rise of 53.5%[24] Cash Flow - Net cash flow from operating activities improved to CNY 15,116,319.68 from a negative CNY 53,788,454.85 in the previous year[5] - The cash inflow from operating activities for the period from January to September was ¥218,810,167.05, an increase of 52.7% compared to ¥143,225,297.13 in the same period last year[39] - The net cash flow from operating activities was ¥15,116,319.68, a significant improvement from a net outflow of ¥53,827,055.95 in the previous year[39] - The cash inflow from financing activities increased to ¥180,000,000.00, up from ¥140,000,000.00, marking a growth of 28.6%[39] - The cash and cash equivalents at the end of the period reached ¥93,739,690.55, compared to ¥45,902,740.70 at the end of the same period last year, indicating a substantial increase[40] Expenses - R&D expenses increased by 37.61% to ¥2,153,327.85 due to higher investment in research and development[10] - Financial expenses rose by 33.71% to ¥5,708,175.70 primarily due to an increase in loan scale[10] - Operating costs increased to CNY 184,980,747.03 from CNY 167,795,591.57, marking a rise of 10.2%[27] - The total operating costs for Q3 2018 were ¥70,170,349.45, an increase from ¥65,625,915.20 in Q3 2017[32] Shareholder Information - The total number of shareholders reached 25,939 at the end of the reporting period[8] - The top three shareholders held a combined 43.59% of the shares, with Beijing Zhongyou Asset Management Co., Ltd. holding 32.98%[8]

Financial Performance - The company's operating revenue for the first half of 2018 was ¥96,741,899.44, representing a 9.65% increase compared to ¥88,225,673.54 in the same period last year[20] - The net profit attributable to shareholders of the listed company decreased by 73.95% to ¥357,663.72 from ¥1,373,189.87 in the previous year[20] - The net profit after deducting non-recurring gains and losses was -¥2,896,556.11, a decline of 329.16% compared to ¥1,263,992.40 in the same period last year[20] - Basic earnings per share decreased by 74.12% to ¥0.0022 from ¥0.0085 in the same period last year[21] - The weighted average return on net assets was 0.18%, down by 0.51 percentage points from 0.69% in the previous year[21] - Operating profit for the first half of 2018 was 382,400 RMB, indicating the company's continued profitability[28] - Operating profit decreased by 69.74% to ¥382,353.62 due to changes in product sales structure and lower gross margins[40] - Net profit fell by 73.97% to ¥357,425.37 for the same reasons as operating profit[41] Cash Flow and Liquidity - The net cash flow from operating activities was -¥16,741,128.03, an improvement from -¥25,767,723.95 in the previous year[20] - Operating cash flow for the first half of 2018 was -16.74 million RMB, an improvement from -25.77 million RMB in the same period last year[37] - Cash flow from operating activities increased due to higher cash receipts from sales[38] - Cash and cash equivalents increased by 38.32% to ¥67,287,595.47 due to increased cash receipts[42] - Cash outflow for purchasing goods and services was CNY 86,167,136.69, increasing from CNY 59,757,023.08, which is a growth of approximately 44.2%[105] - Cash paid to employees was CNY 28,620,732.34, compared to CNY 25,063,744.07 in the previous period, reflecting an increase of about 10.2%[105] - Cash paid for taxes was CNY 8,628,283.82, significantly higher than CNY 3,442,735.50, indicating an increase of approximately 150.5%[105] Assets and Liabilities - The total assets at the end of the reporting period were ¥431,668,294.31, reflecting a 5.49% increase from ¥409,210,319.42 at the end of the previous year[20] - The net assets attributable to shareholders of the listed company increased by 0.18% to ¥200,525,251.41 from ¥200,167,587.69 at the end of the previous year[20] - Current liabilities totaled CNY 220,695,342.99, an increase of 11.1% from CNY 198,594,793.47 in the previous period[91] - Total liabilities amounted to CNY 231,095,342.99, up from CNY 208,994,793.47, reflecting a growth of 10.6%[91] - Total assets reached CNY 441,344,710.28, compared to CNY 418,858,019.03, indicating an increase of 5.4%[94] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 27,421[76] - The largest shareholder, Beijing Zhongyou Asset Management Co., Ltd., held 53,128,388 shares, accounting for 32.98% of total shares[78] - The second-largest shareholder, Postal Scientific Research Planning Institute, held 10,229,332 shares, representing 6.35% of total shares[78] Legal Matters - The company is involved in a lawsuit filed by Hunan Xiang Postal Real Estate Company and others, with the case being heard in the Changsha Intermediate People's Court since May 6, 2015[58] - The company has been involved in multiple legal proceedings, including a civil lawsuit initiated by Changsha Shengde Li Real Estate Development Co., Ltd. regarding a commodity housing sales contract[59] - The company has faced various litigation and arbitration cases, with ongoing updates on the progress of these cases being disclosed[60] - The company has been appealing against unfavorable judgments from lower courts, indicating ongoing legal challenges[59] Research and Development - Research and development expenses increased by 138.08% to 1.49 million RMB, reflecting the company's commitment to innovation and new product development[37] - The company is actively expanding its market presence by introducing new products and services tailored to postal business needs[35] Financial Management - The company did not propose any profit distribution or capital reserve transfer during the reporting period[55] - The company has appointed Tianzhi International Accounting Firm as its financial and internal control auditor for the fiscal year 2018, with the appointment approved on May 10, 2018[58] - The company reported no changes in accounting policies or estimates during the reporting period[75] - There were no significant accounting errors that required restatement during the reporting period[75] Revenue Recognition - Revenue recognition for self-developed software products occurs when related income and costs can be reliably measured, and the product has been delivered and accepted by the customer[184] - For customized software projects completed within the same accounting year, revenue is recognized upon completion and receipt of payment; if spanning different years, revenue is recognized based on the percentage of completion method[185] Government Grants - Other income increased significantly to ¥3,279,200.00, compared to ¥1,250,000.00 in the previous period[98] - Government grants related to assets are recognized as deferred income and amortized over the asset's useful life[187]