Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[17]. - The net profit attributable to shareholders was RMB 150 million, up 10% compared to the same period last year[17]. - The company's operating revenue for the first half of the year reached ¥4,594,890,150.14, representing a year-on-year increase of 5.81% compared to ¥4,342,685,219.23 in the same period last year[23]. - The net profit attributable to shareholders was ¥186,558,583.84, up 3.82% from ¥179,697,275.44 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 34.75%, amounting to ¥110,353,354.38 compared to ¥169,132,226.68 last year[23]. - The company reported a net cash flow from operating activities of -¥423,614,497.71, an improvement of 16.36% compared to -¥506,458,000.54 last year[23]. - The company's revenue for the first half of the year reached 4.595 billion RMB, representing a year-on-year growth of 5.81%[64]. - The net profit attributable to shareholders was 187 million RMB, with total assets amounting to 12.772 billion RMB and equity attributable to the parent company at 5.138 billion RMB[64]. - The company's basic earnings per share decreased by 3.61% to ¥0.080 from ¥0.083 in the same period last year[23]. - The weighted average return on equity decreased by 0.71 percentage points to 3.71% from 4.42% in the previous year[23]. Assets and Liabilities - The company’s total assets reached RMB 5 billion, with a debt-to-asset ratio of 45%[17]. - The company's total assets increased by 8.66% to ¥12,771,740,069.03 from ¥11,754,105,425.54 at the end of the previous year[23]. - The net assets attributable to shareholders rose by 19.42% to ¥5,137,544,760.72 from ¥4,302,068,503.13 at the end of last year[23]. - The company's cash and cash equivalents increased by 60.69% to ¥888,408,028.50, accounting for 6.96% of total assets[75]. - The company's total liabilities increased to ¥7,284,800,850.22 from ¥7,119,223,084.87, marking an increase of about 2.32%[184]. - The company's long-term liabilities due within one year increased by 192.97% to ¥104,900,757.41, mainly due to an increase in long-term borrowings[75]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by the end of 2023[17]. - The management has provided a performance guidance of 10-15% revenue growth for the second half of 2022[17]. - The company aims to leverage its partnership with Hangxiao Steel Structure to expand into various building applications, enhancing brand recognition in the green building sector[62]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[191]. Research and Development - The company has allocated RMB 50 million for research and development in advanced construction technologies for 2022[17]. - The company’s R&D expenses increased by 47.07% to 229 million RMB, reflecting a commitment to innovation[71]. - The company has established a joint laboratory with Zhejiang University to advance industrial internet platform development, focusing on smart manufacturing solutions[54]. - The company has filed 41 patents, including 3 invention patents and 38 utility model patents, strengthening its technological advantages in the steel structure construction sector[48]. Environmental Compliance - The company has established an emergency response plan for environmental incidents, which has been filed with the local environmental bureau[110]. - The company’s waste gas treatment facilities achieved an efficiency of approximately 91.5% during the reporting period[106]. - The company’s total emissions of volatile organic compounds (VOCs) were reported at 0.60988 tons per year, well below the permitted limit[105]. - The company is actively enhancing its environmental protection measures, including regular monitoring of wastewater, waste gas, and noise[115]. - The company is installing solar photovoltaic panels on its factory rooftops to reduce carbon emissions, with the first phase of the project currently in progress[116]. Disputes and Legal Matters - The company is involved in a construction contract dispute with Baotou Guorui Carbon Valley Co., Ltd., with the first-instance judgment in effect and currently in execution[124]. - The company has a construction contract dispute with Inner Mongolia Kaide Real Estate Development Co., Ltd., where the second-instance judgment upheld the original ruling, and the remaining payment is under execution[124]. - The company is engaged in a construction contract dispute with Tianjin Gaosheng Real Estate Development Co., Ltd., with the first-instance judgment in effect and currently in execution[124]. - The company has a construction contract dispute with Xinjiang Ru Yi Fashion Textile Technology Co., Ltd., which has entered bankruptcy reorganization, with a total amount involved of 44.085 million RMB, and ordinary creditors will be repaid at a rate of 1.34%[126]. Shareholder Information - The total number of common shareholders as of the end of the reporting period is 64,544[166]. - The largest shareholder, Dan Yinmu, holds 904,713,764 shares, representing 38.19% of total shares, with 448,550,000 shares pledged[166]. - The second-largest shareholder, Chen Shihui, increased his holdings by 61,221,476 shares, totaling 61,221,476 shares, which is 2.58% of total shares[166]. - The report indicates that there are no preferred shareholders with restored voting rights as of the reporting period[166]. Financial Commitments and Guarantees - Total guarantee amount at the end of the reporting period (excluding guarantees to subsidiaries) is CNY 229,200,000[152]. - The amount of guarantees provided to shareholders, actual controllers, and their related parties is CNY 48,550,370[152]. - The company has not engaged in any violations related to guarantees during the reporting period[122].

Financial Performance - The company's operating revenue for Q1 2022 was ¥2,057,314,870.25, representing a year-on-year increase of 10.23%[6] - The net profit attributable to shareholders was ¥53,188,844.23, a decrease of 40.45% compared to the same period last year[6] - Basic earnings per share were ¥0.025, down 39.02% from the previous year[9] - Total operating revenue for Q1 2022 was CNY 2,057,314,870.25, an increase of 10.2% from CNY 1,866,402,389.76 in Q1 2021[31] - Net profit for Q1 2022 was CNY 52,666,579.50, a decrease of 45.1% compared to CNY 97,206,539.21 in Q1 2021[31] - The total comprehensive income for Q1 2022 was CNY 52,703,973.36, compared to CNY 96,103,948.28 in Q1 2021, a decline of 45.0%[33] Cash Flow - The net cash flow from operating activities was -¥393,257,351.57, reflecting a decline of 63.61% year-on-year[6] - Net cash inflow from operating activities was -393,257,351.57, compared to -240,361,980.90 in the previous period, indicating a decline in operational cash flow[37] - Cash received from other operating activities was 45,043,618.60, down from 57,929,662.70, suggesting a decrease in operational cash receipts[37] - Cash paid to employees increased to 257,221,756.06 from 206,217,890.07, reflecting higher labor costs[37] - Total cash inflow from financing activities reached 1,469,215,102.54, significantly higher than 751,673,264.05 in the prior period, reflecting increased financing efforts[38] - Total cash outflow from financing activities was 507,265,147.75, slightly up from 479,913,507.30, indicating stable financing outflows[38] Assets and Liabilities - Total assets at the end of the reporting period were ¥12,215,006,316.49, an increase of 3.92% from the end of the previous year[9] - The company's total liabilities decreased to CNY 6,702,997,267.12 in Q1 2022 from CNY 7,119,223,084.87 in Q1 2021, a reduction of 5.9%[27] - Current liabilities decreased to RMB 6.18 billion from RMB 6.67 billion, reflecting a reduction of approximately 7.3%[25] - The company's short-term borrowings were reported at RMB 2.16 billion, down from RMB 2.22 billion, indicating a decrease of about 2.7%[25] Shareholder Information - The company's equity attributable to shareholders increased by 20.24% to ¥5,172,890,230.03 compared to the end of the previous year[9] - The total equity attributable to shareholders of the parent company increased to CNY 5,172,890,230.03 in Q1 2022 from CNY 4,302,068,503.13 in Q1 2021, reflecting a growth of 20.2%[27] - The number of ordinary shareholders at the end of the reporting period was 67,895, with the largest shareholder holding 38.19% of the shares[14] Research and Development - Research and development expenses increased by 51.10% due to higher investment in R&D[13] - Research and development expenses increased to CNY 105,934,451.72 in Q1 2022, compared to CNY 70,106,717.58 in Q1 2021, marking a rise of 50.9%[31] Investment Activities - The company reported a significant decrease in cash flow from investment activities, primarily due to no external investment expenditures during the period[13] - Cash outflow for investing activities was -204,256,337.53, compared to -58,488,167.52 previously, indicating increased investment expenditures[37] - Cash received from investment activities was 30,158.74, down from 64,015,199.86, showing a decline in cash recovery from investments[37] Government Subsidies - The company received government subsidies related to assets amounting to ¥2,928,336.27, which positively impacted financial performance[10] Current Assets - As of March 31, 2022, the company's total current assets amounted to approximately RMB 8.62 billion, an increase from RMB 8.28 billion as of December 31, 2021, reflecting a growth of about 4.1%[22] - The company's cash and cash equivalents reached RMB 887.56 million, up from RMB 552.88 million, indicating a significant increase of approximately 60.5%[22] - Accounts receivable stood at RMB 1.46 billion, slightly increasing from RMB 1.45 billion, showing a marginal growth of about 0.1%[22] - Inventory levels rose to RMB 919.51 million from RMB 864.72 million, representing an increase of approximately 6.3%[22]

Financial Performance - The company achieved an annual revenue of CNY 9.58 billion in 2021, representing a 17.68% increase compared to CNY 8.14 billion in 2020[27]. - Net profit attributable to shareholders was CNY 411.60 million, a decrease of 43.14% from CNY 723.93 million in the previous year[27]. - The company reported a net cash flow from operating activities of -CNY 903.78 million, a significant decline from -CNY 14.31 million in 2020[27]. - Basic earnings per share decreased to CNY 0.191, down 43.15% from CNY 0.336 in the previous year[29]. - Operating revenue for the period reached ¥9,577,854,809.29, an increase of 17.68% compared to ¥8,138,757,441.89 in the same period last year[81]. - Operating costs increased by 23.23% to ¥8,246,634,313.81, primarily due to increased production and rising steel prices[81]. - R&D expenses rose by 21.58% to ¥383,407,312.46, reflecting increased investment in research and development[81]. - The gross margin for the industrial sector improved by 6.68 percentage points to 9.77%, while the construction sector saw a slight decrease of 0.45 percentage points to 14.32%[82]. - The company reported a significant reduction in financial expenses, which increased by 63.84% to ¥91,737,490.17 due to higher loan interest payments[93]. - The company experienced a 67.90% decrease in income tax expenses, totaling ¥49,150,669.88, due to a reduction in total profit for the period[93]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 0.6 RMB per 10 shares, totaling 142,146,669.12 RMB (including tax) based on a total share capital of 2,369,111,152 shares[7]. - The company has a cash dividend policy that was approved at the 2020 annual general meeting, distributing a total of 226,142,428.16 CNY (including tax) to shareholders based on a ratio of 1.05 CNY per 10 shares[187]. - The total number of shares held by the board members at the beginning of the year was 975,192,855, with a net decrease of 1,583,316 shares, resulting in an ending total of 973,609,539 shares[161]. - The total pre-tax remuneration for the reporting period for all board members amounted to 1,510.33 million CNY[161]. Corporate Governance - The company reported a standard unqualified audit opinion from Da Hua Certified Public Accountants[6]. - The company emphasizes independent operations from its controlling shareholder, maintaining separation in personnel, assets, finance, and business[149]. - The company has established a comprehensive investor relations management system, including various communication channels to engage with investors and ensure timely and accurate information disclosure[149]. - The company has committed to enhancing its governance structure in accordance with the Company Law and Securities Law, aiming to protect the interests of all shareholders[151]. - The company conducted 39 training sessions in 2021, achieving a total training participation of 13,232 person-times, with a coverage rate of 100%[182]. - The company has completed a self-examination of corporate governance and found no major issues during the process[195]. - The internal control audit report received a standard unqualified opinion, indicating effective internal controls[195]. Risk Management - The company has detailed potential risks in its annual report, particularly in the section discussing future developments[9]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in its annual report[8]. - The company will continue to strengthen internal management and sign open contracts to mitigate risks associated with fluctuations in raw material prices, particularly steel[144]. - The company recognizes the risks associated with labor shortages and rising labor costs, which could impact production and profitability[146]. Strategic Development - The company plans to focus on digital innovation and intelligent manufacturing upgrades as part of its five-year development strategy[39]. - The company aims to enhance its core steel structure business by securing significant projects across various regions[41]. - The company aims to enhance its supply chain efficiency and cost reduction through intelligent manufacturing upgrades and collaborative management systems[45]. - The company is focusing on intelligent welding technology as a breakthrough to lead the transformation and upgrading of steel structure intelligent manufacturing[135]. - The company is committed to expanding its innovative business ventures, including the development of intelligent welding technology and green building solutions, despite the uncertainties in these new markets[145]. Market Position and Expansion - The cumulative contract amount for steel structure projects reached approximately 10.709 billion yuan, representing a year-on-year growth of 6.66%[43]. - The area of steel structure projects initiated by cooperative companies reached 12.8999 million square meters, a year-on-year increase of 50.2%[44]. - The company aims to establish a "partner" mechanism to leverage local market advantages and enhance project order quality and efficiency[131]. - The company plans to expand its manufacturing capacity through a "buy and build" strategy, enhancing production efficiency and product quality via smart manufacturing upgrades[132]. - The company aims to collaborate with state-owned enterprises and local governments to promote large-scale BIPV projects and differentiate itself in the market[138]. Environmental Responsibility - The company has established 9 sets of closed spray booths and 1 fully enclosed mobile spray booth for pollution control[198]. - The total emissions of VOCs from the company are 11.96 tons per year, well below the approved total of 46.3672 tons per year[197]. - The company adheres to multiple environmental protection laws and regulations, ensuring stable operation of all environmental treatment equipment[200]. - The company has implemented a catalytic combustion process for the treatment of spray paint waste gas, which is operating normally[198]. Research and Development - The company has developed a complete set of third-generation steel structure residential construction technology, first applied in 2013 in a large-scale affordable housing project[57]. - The company has established joint laboratories with several universities to accelerate the commercialization of high-efficiency heterojunction and perovskite stacked battery technologies[138]. - The company is focusing on the development of BIPV (Building-Integrated Photovoltaics) as a new growth driver, aiming to create a comprehensive system solution for photovoltaic buildings[138]. - The company has a diverse workforce, with 3,255 production staff, 466 sales personnel, and 703 technical staff among the total employees[180].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 2,398,359,079.48, representing a year-on-year increase of 4.17%[7] - The net profit attributable to shareholders for Q3 2021 was CNY 180,148,485.16, reflecting a year-on-year increase of 6.40%[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 7,518,923.50, showing a significant decrease of 94.52% year-on-year[7] - Total operating revenue for the first three quarters of 2021 reached ¥6,741,044,298.71, an increase of 32.4% compared to ¥5,091,663,689.85 in the same period of 2020[29] - Total operating revenue for the period reached 6,503,978,428.08 CNY, an increase from 4,704,955,919.77 CNY in the previous period, reflecting a growth of approximately 38.2%[30] - Net profit for the period was 423,899,206.82 CNY, down from 670,378,234.34 CNY, indicating a decline of about 36.7%[34] - The company reported a total comprehensive income of 420,898,868.67 CNY, compared to 663,502,525.40 CNY in the previous period, a decrease of about 36.6%[36] Assets and Liabilities - The total assets at the end of Q3 2021 amounted to CNY 10,789,518,181.79, an increase of 20.36% compared to the end of the previous year[10] - As of September 30, 2021, total assets amounted to ¥10,789,518,181.79, up from ¥8,964,703,841.12 at the end of 2020, reflecting a growth of 20.4%[27] - Total liabilities reached ¥6,305,730,006.90, up from ¥4,722,208,911.37, which is an increase of 33.5%[27] - The company's total liabilities amounted to 4,595,906,693.98 CNY, indicating a stable liability structure[43] - Total liabilities amounted to approximately $4.72 billion, with total equity reaching about $4.24 billion, resulting in total assets of approximately $8.96 billion[45] Equity and Shareholder Information - The total equity attributable to shareholders at the end of Q3 2021 was CNY 4,186,899,615.59, an increase of 3.26% compared to the previous year[10] - The company's equity attributable to shareholders was ¥4,186,899,615.59, compared to ¥4,054,802,484.59, showing a growth of 3.3%[27] - The company's retained earnings stood at approximately $1.38 billion, contributing significantly to the total equity[45] - The minority interest in equity was approximately $187.69 million, showcasing the presence of minority shareholders[45] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date was CNY -430,659,738.54, indicating a decline of 393.98%[10] - Cash inflow from operating activities totaled 6,504,597,943.40 CNY, up from 5,190,140,654.68 CNY, marking an increase of about 25.4%[38] - The net cash flow from operating activities was -430,659,738.54 CNY, a significant decline compared to 146,491,475.65 CNY in the previous period, indicating a negative performance in operational cash generation[39] - Total cash outflow from investing activities amounted to 411,818,763.27 CNY, up from 279,712,728.21 CNY, reflecting increased investment expenditures[39] - The cash inflow from investment activities decreased to 354,327,620.61 CNY from 620,978,471.86 CNY, reflecting reduced investment returns[39] Costs and Expenses - The total operating costs amounted to 6,503,978,428.08 CNY, compared to 4,704,955,919.77 CNY, indicating an increase of approximately 38.2%[30] - Research and development expenses increased to 253,165,390.40 CNY from 207,746,548.82 CNY, representing a rise of approximately 21.8%[30] - The company reported a decrease in tax expenses to 67,923,154.39 CNY from 141,066,521.58 CNY, a reduction of about 52.0%[34] - The cash outflow for employee compensation was 557,760,036.33 CNY, an increase from 475,166,143.51 CNY, indicating rising labor costs[39] Regulatory and Compliance - The company received approval from the China Securities Regulatory Commission for a non-public issuance of A-shares on March 23, 2021[18] - The company adopted new leasing standards effective January 1, 2021, impacting the financial statements and retained earnings[47]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2021, representing a year-on-year increase of 15%[16]. - Net profit attributable to shareholders reached RMB 150 million, up 20% compared to the same period last year[16]. - The company's operating revenue for the first half of the year reached ¥4,342,685,219.23, representing a 55.69% increase compared to ¥2,789,402,628.88 in the same period last year[23]. - The net profit attributable to shareholders decreased by 62.38% to ¥179,697,275.44 from ¥477,726,680.14 year-on-year[23]. - The net cash flow from operating activities was negative at -¥506,458,000.54, a decline of 455.18% compared to ¥142,593,574.29 in the previous year[23]. - The basic earnings per share decreased by 62.61% to ¥0.083 from ¥0.222 in the same period last year[23]. - The weighted average return on net assets dropped by 8.31 percentage points to 4.42% from 12.73% year-on-year[23]. - The company reported a total comprehensive income of ¥190,534,696.39 for the first half of 2021, compared to ¥475,367,547.70 in the same period of 2020, a decrease of 60%[162]. - The company reported a net profit of 262,352,939.04 CNY for the current period, showing a positive trend in profitability[187]. Market Expansion and Strategy - The company has expanded its user base by 10%, now serving over 500,000 customers[16]. - Future outlook indicates a projected revenue growth of 10-15% for the second half of 2021, driven by increased demand in the construction sector[16]. - Market expansion plans include entering two new provinces by the end of 2021, aiming to increase market share by 5%[16]. - The company aims to enhance its market presence and operational efficiency by focusing on green construction and the development of prefabricated buildings in response to national policies[29]. - The company aims to enhance its market share and consolidate its position by leveraging industrial intelligence and information management platforms[37]. - The company is actively expanding its overseas market presence, with projects like the Iran Southern Electrolytic Aluminum Plant being recognized as a "Silk Road Pearl Project" in Zhejiang Province[41]. - The company plans to continue focusing on market expansion and new product development to drive future growth[156]. Research and Development - The company is investing RMB 200 million in new product development, focusing on sustainable building materials[16]. - Research and development expenses increased by 38.86% to approximately CNY 156 million, reflecting a commitment to innovation[55]. - The company has accumulated 137 national authorized patents related to the concrete-filled steel tube structure residential system, with 24 new patents obtained during the reporting period[47]. - The company has established the Hangxiao Industrialized Green Building Research Institute, enhancing its R&D capabilities and collaboration with prestigious universities[46]. - The company is focusing on building a new manufacturing system in the steel structure industry through its Industrial Internet Research Institute, utilizing data-driven production management[73]. Operational Efficiency - A new technology initiative is underway to improve operational efficiency, targeting a 10% reduction in production costs[16]. - The collaborative manufacturing management system has been implemented in several subsidiaries, enhancing production efficiency[54]. - The company aims to build a "future factory" ecosystem integrating marketing, design, manufacturing, and logistics through digital transformation[54]. Environmental Compliance - The company reported a total pollutant discharge of 15.9 tons per annum, well below the approved limit of 46.3672 tons per annum, indicating compliance with environmental standards[85]. - The company has implemented advanced pollution control facilities, including a catalytic combustion system for paint waste gas treatment, ensuring normal operation and compliance with environmental regulations[86]. - The company has established an environmental impact assessment for construction projects and obtained the necessary environmental permits[87]. - The company has developed an emergency response plan for environmental incidents, which has been approved by experts and filed with the relevant authorities[88]. - The company emphasizes environmental protection and has a dedicated department responsible for managing and supervising daily environmental work[90]. Legal and Financial Risks - Risk factors include potential fluctuations in raw material prices, which could impact profit margins[16]. - The company is involved in several ongoing legal disputes related to construction contracts, with judgments already in effect[105]. - The company is enhancing its contract risk management and project operation capabilities to adapt to the complex international environment and ensure stable development[72]. Shareholder and Equity Information - The company has not proposed any profit distribution or capital reserve transfer plans for the current period[81]. - The total owner's equity at the end of the reporting period is 4,268,983,964.99 CNY, reflecting an increase from the previous year's balance of 3,670,392,692.10 CNY[185]. - The company distributed CNY 226,142,428.16 to shareholders during the reporting period[183]. - The total capital stock remains unchanged at 2,153,737,411.00 throughout the reporting period[193]. - The company has maintained a consistent capital structure with no new equity issued during the period[193].

2021 年第一季度报告 公司代码：600477 公司简称：杭萧钢构 杭萧钢构股份有限公司 2021 年第一季度报告 1 / 25 2021 年第一季度报告 一、 二、 11Í 四、 | --- | |----------------| | 目录 | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 25 2021 年第一季度报告 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 公司负责人单银木、主管会计工作负责人许琼及会计机构负责人（会计主管人员）谢海琳保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |------------------------------------------------|----------------- ...

Financial Performance - The company's operating revenue for 2020 was approximately RMB 8.14 billion, representing a year-on-year increase of 22.70% compared to RMB 6.63 billion in 2019[23]. - The net profit attributable to shareholders for 2020 was approximately RMB 723.93 million, a significant increase of 54.38% from RMB 468.92 million in 2019[23]. - The basic earnings per share for 2020 was RMB 0.336, reflecting a growth of 54.13% compared to RMB 0.218 in 2019[24]. - The company's total assets at the end of 2020 were approximately RMB 8.96 billion, an increase of 2.07% from RMB 8.78 billion at the end of 2019[23]. - The net cash flow from operating activities for 2020 was negative RMB 14.31 million, a decline of 110.08% compared to positive RMB 141.90 million in 2019[23]. - The company reported a total of RMB 360.67 million in non-recurring gains and losses for 2020, compared to RMB 144.15 million in 2019[28]. - The weighted average return on equity for 2020 was 19.42%, an increase of 5.11 percentage points from 14.31% in 2019[24]. - The total operating revenue for the reporting period was CNY 8.14 billion, an increase of 22.7% compared to the previous year[64]. - The net profit attributable to shareholders was CNY 724 million, reflecting a year-on-year growth of 54.38%[64]. Dividend Distribution - The company plans to distribute a cash dividend of 1.05 RMB per 10 shares, totaling 226,142,428.16 RMB (including tax) to shareholders[7]. - In 2020, the company distributed a cash dividend of 1.05 RMB per 10 shares, totaling approximately 226.14 million RMB, which represents 31.24% of the net profit attributable to ordinary shareholders[120]. - The company completed a dividend distribution of 215,373,741.10 RMB (including tax) to ordinary shareholders during the reporting period[165]. Corporate Governance - The company reported a standard unqualified audit opinion from Da Hua Certified Public Accountants[6]. - The company has confirmed that all board members attended the board meeting[6]. - The company has a board of directors consisting of 7 members, with independent directors accounting for over one-third of the total[165]. - The company held 18 board meetings in 2020 to diligently review various proposals and fulfill its responsibilities[165]. - The company maintains a commitment to transparent information disclosure, ensuring timely and accurate communication with investors[165]. - The company has established a governance structure that ensures clear responsibilities and coordination among its decision-making bodies[165]. Market Position and Strategy - The company aims to leverage its technological and brand advantages to expand its market presence, particularly in the "Belt and Road" initiative countries[44]. - The company aims to become a world-class green building integrated service provider, focusing on expanding its traditional steel structure business and enhancing market share through technological innovation and smart management[110]. - The company is focusing on innovation and digital transformation to enhance its competitive edge in the steel structure market[107]. - The company aims to significantly increase new contracts and sales revenue in 2021 compared to 2020, while actively expanding into markets along the "Belt and Road" initiative[111]. - The company plans to enhance its total contracting business and advance the construction of intelligent production lines and information management platforms[111]. Research and Development - The company has over 300 design and R&D personnel, with more than 200 holding advanced degrees and titles, enhancing its technical capabilities[50]. - The company has participated in over 70 national and industry standards, contributing to more than 400 national patent achievements in various construction technologies[50]. - The company launched the "Steel Concrete Bundled Structure Design Software," which has been officially used by the company and its partners[50]. - The company has undertaken multiple key national R&D projects, significantly contributing to the development of the steel structure construction industry in China[50]. - The company established the Hangxiao Industrialized Green Building Research Institute, enhancing its R&D capabilities in industrialized green buildings[50]. - The company established an Industrial Internet Research Institute in 2020 to create a new manufacturing system in the steel structure industry, focusing on data-driven production management[115]. - The total R&D investment, including both capitalized and expensed amounts, was CNY 342.12 million, with 588 R&D personnel, making up 11.69% of total employees[4]. Legal Matters - The company is currently involved in significant litigation, including a construction contract dispute with Baotou Guorui Carbon Valley Co., Ltd., which is in the execution phase following a first-instance judgment[134]. - Another ongoing litigation involves a construction contract dispute with Inner Mongolia Kaide Real Estate Development Co., Ltd., with the second-instance judgment upholding the original ruling and execution in progress[130]. - The company is pursuing a construction contract dispute with Tianjin Gaosheng Real Estate Development Co., Ltd., which is also in the execution phase following a first-instance judgment[130]. - The company has a construction contract dispute with Xinjiang Ru Yi Fashion Textile Technology Co., Ltd., which has entered a reorganization process, with a court ruling approving the reorganization plan[134]. - The company has ongoing legal disputes regarding construction contracts, with a total amount of 48.57 million and 13.54 million pending payments from different clients[136]. Employee and Social Responsibility - The company emphasizes the importance of talent development and adheres to national labor laws to protect employee rights[165]. - The company provided training for 51,028 participants across 39 training sessions during the reporting period, emphasizing employee skill enhancement[168]. - The company donated a total of 4 million RMB to the Xiaoshan District Charity Association in 2020, supporting public welfare initiatives[168]. - The company has cumulatively contributed over 70 million RMB in poverty alleviation and charitable donations since 2015[168]. - The company has established 13 spray painting workstations with a closed-loop system for waste gas treatment, ensuring compliance with environmental standards[173]. - The company has implemented a VOC online monitoring system for 24-hour surveillance, connected to the Zhejiang environmental monitoring platform[178]. Financial Management - The company raised a total of RMB 1,230,349,105.81 through debt financing during the reporting period[93]. - The company made equity investments totaling RMB 54,150 million during the reporting period[98]. - The company has ongoing efforts to expand its market presence and improve operational efficiency through strategic partnerships and legal recoveries[138]. - The company has engaged in various wealth management activities, with a total investment amount of 70 million RMB and an annualized return rate of 3.60% for one of the wealth management products[161]. - The company has fully recovered all investments from its wealth management activities, ensuring no losses were incurred[161]. Industry Trends - The steel structure industry is experiencing a shift towards green building practices, with a projected increase in prefabricated steel structure residential projects, particularly in Shandong and Jiangxi provinces[107]. - By 2025, the proportion of prefabricated buildings in new construction is expected to reach 30%, with steel structures being a key component of this growth[107]. - The competitive landscape in the steel structure industry is shifting towards leading enterprises, with market share increasingly concentrated among top players[107].

2020 年第三季度报告 公司代码：600477 公司简称：杭萧钢构 杭萧钢构股份有限公司 2020 年第三季度报告 1 / 26 2020 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 / 26 2020 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 公司负责人单银木、主管会计工作负责人许琼及会计机构负责人（会计主管人员）谢海琳保 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 | --- | --- | --- | --- | |-----------------------------------------------|------------------------------|------------------------------------|---- ...

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 2,789,402,628.88, an increase of 4.22% compared to CNY 2,676,377,553.94 in the same period last year[21]. - The net profit attributable to shareholders of the listed company reached CNY 477,726,680.14, representing a significant increase of 131.95% from CNY 205,957,640.16 in the previous year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 168,934,474.83, a decrease of 16.95% compared to CNY 203,421,256.41 in the same period last year[21]. - The net cash flow from operating activities was CNY 142,593,574.29, down 61.82% from CNY 373,462,620.77 in the previous year[21]. - Basic earnings per share increased by 131.25% to CNY 0.222 compared to the same period last year[23]. - Diluted earnings per share also rose by 131.25% to CNY 0.222 year-on-year[23]. - The weighted average return on equity increased by 6.57 percentage points to 12.73%[23]. - The company achieved a revenue of approximately 2.789 billion RMB, representing a year-on-year growth of 4.22%[55]. - The net profit attributable to shareholders reached approximately 478 million RMB, a significant increase of 131.95% compared to the previous year, surpassing the total net profit for 2019[55]. Assets and Liabilities - Total assets reached CNY 9,170,083,406.24, reflecting a growth of 4.41% compared to CNY 8,782,703,984.22 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company increased to CNY 3,785,246,797.50, an increase of 8.31% from CNY 3,494,915,694.01 at the end of the previous year[21]. - Total liabilities reached RMB 5,207,659,143.41, compared to RMB 5,112,311,292.12 at the end of 2019, indicating an increase of about 1.86%[151]. - The company's cash and cash equivalents stood at RMB 817,283,861.38, up from RMB 730,975,816.66, representing a growth of approximately 11.5%[146]. - The company's equity attributable to shareholders increased to RMB 3,785,246,797.50 from RMB 3,494,915,694.01, reflecting a growth of about 8.32%[151]. Research and Development - The company's research and development expenses increased by 12.28% to approximately CNY 112.30 million, reflecting a commitment to innovation[61]. - The company has received over 400 national patents related to steel structure construction and has participated in the compilation of more than 50 national and industry standards[46]. - The company has established partnerships with prestigious universities for research and development, enhancing its technological capabilities[45]. - The company has filed for 22 new patents during the reporting period, including 2 related to the steel pipe concrete bundle structure residential system, enhancing its technological advantage[48]. Business Strategy and Market Position - The company aims to promote green building and materials, focusing on the development of steel structure housing and prefabricated buildings[29]. - The steel structure industry is expected to grow rapidly, with a projected compound annual growth rate of 20.6% from 2018 to 2020[33]. - The company has established a new business model centered on patented technology and management methods to enhance operational efficiency[33]. - The government has introduced supportive policies for prefabricated buildings, which are anticipated to accelerate the development of the steel structure industry[36]. - The company is actively involved in the bidding process for domestic and international projects to secure orders in the steel structure sector[32]. Environmental Responsibility - The company has established a comprehensive environmental monitoring system, including VOC online monitoring devices connected to the Zhejiang environmental monitoring platform[125]. - The company has not experienced any major environmental issues or received administrative penalties during the reporting period[126]. - The company has implemented a pollution prevention and control facility that operates normally and meets discharge standards[120]. - The company has developed an emergency response plan for environmental incidents, which has been approved and filed with the environmental protection bureau[122]. Shareholder Information - The total number of shares decreased by 608,400, resulting in a total of 2,153,737,411 shares after the change[130]. - The largest shareholder, Dan Yinmu, holds 904,713,764 shares, representing 42.01% of the total shares[134]. - The company has no strategic investors or general corporations becoming top ten shareholders due to new share placements[137]. - The company completed the repurchase and cancellation of 608,400 restricted shares from deceased incentive stock recipients[133]. Legal and Compliance Issues - There are significant litigation and arbitration matters, including a construction contract dispute with Baotou Guorui Carbon Valley Co., Ltd., with the first-instance judgment in effect and currently in execution[88]. - The company is involved in a construction contract dispute with Inner Mongolia Kaide Real Estate Development Co., Ltd., with the second-instance judgment upholding the original ruling and the remaining payment currently in execution[89]. - The company is pursuing a construction contract dispute with Xinjiang Ru Yi Fashion Textile Technology Co., Ltd., which has entered bankruptcy reorganization, with ordinary creditors to be repaid at a rate of 1.34%[94]. Employment and Workforce - The company has initiated a nationwide recruitment plan called the "Spark Plan" to promote employment through technology[60]. - The company has not disclosed any new employee incentive measures during the reporting period[104].

[Important Notice](index=3&type=section&id=I.%20Important%20Notice) This section confirms the quarterly report's accuracy and completeness, as verified by the company's management and board - The company's board of directors, supervisory board, and all senior management ensure the truthfulness, accuracy, and completeness of this quarterly report, free from false records, misleading statements, or major omissions[8](index=8&type=chunk) - This company's Q1 2020 report is unaudited[11](index=11&type=chunk) [Company Profile](index=3&type=section&id=II.%20Company%20Profile) This section provides key financial performance indicators and detailed shareholder information as of the reporting period end [Key Financial Data](index=3&type=section&id=2.1%20Key%20Financial%20Data) In Q1 2020, operating revenue declined 24.06%; net profit attributable to shareholders rose 131.41% due to non-recurring gains, despite core profit and operating cash flow decreases Key Financial Data for Q1 2020 | Indicator | Current Period (Year-to-Date) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 895,511,248.81 | 1,179,275,063.26 | -24.06% | | Net Profit Attributable to Shareholders | 216,392,017.12 | 93,509,305.56 | 131.41% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 64,261,559.55 | 95,601,114.60 | -32.78% | | Net Cash Flow from Operating Activities | -18,851,303.50 | 12,034,218.71 | -256.65% | | Basic Earnings Per Share (CNY/share) | 0.100 | 0.043 | 132.56% | | Weighted Average Return on Net Assets (%) | 6.01% | 2.85% | 增加 3.16 个百分点 | Non-Recurring Gains and Losses for Q1 2020 | Item | Current Period Amount (CNY) | Explanation | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | 148,959,006.40 | Primarily due to land acquisition matters | | Government Grants Recognized in Current Period P&L | 2,282,820.59 | - | | Fair Value Changes of Financial Instruments and Investment Income | -2,777,800.00 | - | | Net Other Non-Operating Income and Expenses | -440,721.41 | - | | **Total** | **152,130,457.57** | - | [Shareholder Information](index=4&type=section&id=2.2%20Total%20Number%20of%20Shareholders%2C%20Top%20Ten%20Shareholders%2C%20and%20Top%20Ten%20Circulating%20Shareholders%20%28or%20Unrestricted%20Shareholders%29%20as%20of%20the%20End%20of%20the%20Reporting%20Period) As of the reporting period end, the company had 71,190 shareholders; controlling shareholder Mr. Shan Yinmu held 42.01% of shares, with 48% pledged - As of the end of the reporting period, the company had **71,190** shareholders[15](index=15&type=chunk) Top Ten Shareholders' Holdings | Shareholder Name | Number of Shares Held (shares) | Proportion (%) | Share Status | | :--- | :--- | :--- | :--- | | Shan Yinmu | 904,713,764 | 42.01 | Pledged 435,442,860 shares | | Zhejiang Guotai Construction Group Co., Ltd. | 42,805,433 | 1.99 | Unknown | | Sun Ying | 31,441,280 | 1.46 | Unknown | | Gao Peijie | 27,712,100 | 1.29 | Unknown | | Lu Yongjun | 26,246,741 | 1.22 | None | | Chen Suqin | 22,465,232 | 1.04 | Unknown | | Zhang Zhenyong | 22,037,700 | 1.02 | None | | Chen Hui | 18,005,472 | 0.84 | Pledged 15,130,800 shares | | Xu Ronggen | 15,398,225 | 0.71 | Pledged 4,000,000 shares | | Shan Jihua | 14,904,900 | 0.69 | None | [Significant Events](index=5&type=section&id=III.%20Significant%20Events) This section details significant changes in financial statement items due to new accounting standards and other material events [Analysis of Significant Changes in Key Financial Statement Items](index=5&type=section&id=3.1%20Significant%20Changes%20and%20Reasons%20for%20Major%20Financial%20Statement%20Items%20and%20Indicators) Significant changes in financial statement items occurred due to new revenue standards and a massive surge in asset disposal gains from land acquisition, boosting profit Significant Changes in Key Balance Sheet Items | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Notes Receivable | 2454.49% | Increase in bill settlements | | Inventory | -55.68% | Impact of new revenue standard implementation | | **Contract Assets** | 全增加 | Impact of new revenue standard implementation | | Advances from Customers | -98.35% | Impact of new revenue standard implementation | | **Contract Liabilities** | 全增加 | Impact of new revenue standard implementation | | Other Payables | 135.31% | Dividend declared and distributed in current period | Significant Changes in Key Income Statement Items | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Operating Cost | -30.30% | Revenue decrease due to pandemic, leading to corresponding cost reduction | | Selling Expenses | 69.49% | Increase in sales personnel for new businesses | | Gains from Asset Disposal | 480950.06% | Impact of land acquisition by wholly-owned subsidiary | | Asset Impairment Losses | -212.15% | Impact of new revenue and financial instrument standard implementation | Significant Changes in Key Cash Flow Statement Items | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Net Cash Received from Disposal of Long-Term Assets | 836929.02% | Wholly-owned subsidiary received corresponding demolition compensation | | Cash Received from Other Financing Activities | 8137.23% | Impact of bill discounting | | Cash Paid for Other Financing Activities | 5794.63% | Impact of bill acceptance payment at maturity | [Other Significant Matters](index=7&type=section&id=3.2%20Analysis%20of%20Progress%2C%20Impact%2C%20and%20Solutions%20for%20Significant%20Matters) The company's 2017 convertible bond review was terminated in January 2020; no overdue unfulfilled commitments or future net profit warnings were issued - On January 20, 2020, the company received notification from the China Securities Regulatory Commission to terminate the review of its application for a 2017 public offering of convertible corporate bonds[26](index=26&type=chunk) - During the reporting period, the company had no overdue unfulfilled commitments[27](index=27&type=chunk) - The company did not forecast a cumulative net profit loss or significant change compared to the prior year from the beginning of the year to the end of the next reporting period[27](index=27&type=chunk) [Appendix](index=8&type=section&id=IV.%20Appendix) This section includes the unaudited Q1 2020 financial statements and explanations of adjustments from new accounting standards [Financial Statements](index=8&type=section&id=4.1%20Financial%20Statements) This section provides the company's unaudited consolidated and parent company financial statements for Q1 2020, including balance sheet, income statement, and cash flow statement Consolidated Balance Sheet Summary (March 31, 2020) | Item | Period-End Balance (CNY) | Year-Beginning Balance (CNY) | | :--- | :--- | :--- | | Total Assets | 8,764,834,680.97 | 8,782,703,984.22 | | **Contract Assets** | 2,156,689,698.77 | 0 | | Inventory | 1,537,151,748.70 | 3,467,983,864.82 | | Total Liabilities | 5,106,459,581.74 | 5,112,311,292.12 | | **Contract Liabilities** | 1,586,850,300.72 | 0 | | Total Equity Attributable to Parent Company Shareholders | 3,496,080,971.62 | 3,494,915,694.01 | Consolidated Income Statement Summary (Q1 2020) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 895,511,248.81 | 1,179,275,063.26 | | Operating Profit | 238,200,722.87 | 107,072,890.94 | | Gains from Asset Disposal | 149,132,396.45 | 31,001.43 | | Total Profit | 237,701,791.41 | 105,704,630.62 | | Net Profit | 217,489,021.28 | 96,468,893.44 | | Net Profit Attributable to Parent Company Shareholders | 216,392,017.12 | 93,509,305.56 | Consolidated Cash Flow Statement Summary (Q1 2020) | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -18,851,303.50 | 12,034,218.71 | | Net Cash Flow from Investing Activities | 64,650,327.61 | -122,907,969.75 | | Net Cash Flow from Financing Activities | -82,614,246.04 | -41,875,353.88 | | Net Increase in Cash and Cash Equivalents | -36,934,209.20 | -152,798,255.06 | [Explanation of Accounting Standard Changes and Adjustments](index=19&type=section&id=4.2%20Adjustments%20to%20Financial%20Statements%20at%20the%20Beginning%20of%20the%20First%20Year%20of%20Adoption%20of%20New%20Revenue%20and%20Lease%20Standards%20from%202020) Effective January 1, 2020, the company adopted the revised Accounting Standard No. 14—Revenue, leading to retrospective adjustments of opening financial statements, primarily reclassifying assets to 'Contract Assets' and 'Contract Liabilities' - Effective January 1, 2020, the company adopted the new revenue standard, adjusting retained earnings and related financial statement items at the beginning of the year based on cumulative impact, without adjusting comparable period information[74](index=74&type=chunk) Key Adjustments to Opening Consolidated Financial Statements upon Adoption of New Revenue Standard | Item | Before Adjustment (CNY) | After Adjustment (CNY) | Adjustment Amount (CNY) | | :--- | :--- | :--- | :--- | | Accounts Receivable | 1,537,340,498.89 | 1,384,714,687.16 | -152,625,811.73 | | Inventory | 3,467,983,864.82 | 1,425,593,270.72 | -2,042,390,594.10 | | **Contract Assets** | **-** | 2,217,539,101.57 | 2,217,539,101.57 | | Advances from Customers | 1,415,045,659.30 | 36,403,279.66 | -1,378,642,379.64 | | **Contract Liabilities** | **-** | 1,391,120,975.26 | 1,391,120,975.26 | | Undistributed Profits | 955,668,632.36 | 963,708,581.40 | 8,039,949.04 |