Financial Performance - The company's operating revenue for 2021 was CNY 46.16 billion, an increase of 9.70% compared to CNY 42.08 billion in 2020[15]. - The net profit attributable to shareholders in 2021 was CNY 172.09 million, a significant decrease of 92.43% from CNY 2.27 billion in 2020[15]. - The net profit after deducting non-recurring gains and losses was CNY 45.68 million, down 97.82% from CNY 2.10 billion in 2020[15]. - The company's cash flow from operating activities was negative CNY 547.07 million in 2021, compared to positive CNY 2.59 billion in 2020[15]. - The total assets at the end of 2021 were CNY 45.63 billion, a decrease of 3.21% from CNY 47.15 billion at the end of 2020[15]. - The net assets attributable to shareholders increased by 14.78% to CNY 26.93 billion at the end of 2021, up from CNY 23.47 billion at the end of 2020[15]. - Basic earnings per share for 2021 were CNY 0.057, a decline of 92.44% from CNY 0.754 in 2020[16]. - The weighted average return on equity decreased to 0.73% in 2021, down 9.41 percentage points from 10.14% in 2020[16]. - The company recognized a total impairment provision of CNY 3.62 billion for high-end communication business risk assets in 2021[16]. - The company reported a significant increase in credit impairment losses, totaling -¥2.12 billion, primarily due to full impairment provisions for high-end communication business receivables[130]. Dividend and Audit - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares to all shareholders based on the total share capital registered on the dividend distribution date[2]. - The company has received a standard unqualified audit report from Zhongxinghua Accounting Firm[2]. - The company’s financial report has been confirmed for its authenticity, accuracy, and completeness by the responsible persons[2]. Operational Outlook and Risks - The management has outlined potential risks in the future development section of the report, which may impact actual results[4]. - The company’s future operational outlook is based on current business judgments and macroeconomic policies[4]. Market Position and Competitive Advantage - The company achieved a market share of 15.38 billion in the domestic special wire market, ranking first, showcasing its top-tier performance in high-performance overhead transmission wires[35]. - The company maintained a 100% market share in the ultra-high voltage projects for major transmission lines, indicating strong competitive positioning[36]. - The company successfully bid for multiple ultra-high voltage projects, including Baihetan-Jiangsu and Jingmen-Wuhan, maintaining the first position in market share for ordinary wires, special wires, and OPGW[35]. - The company has secured approximately 7 billion RMB in orders for its marine series business as of December 2021[26]. - The company has signed strategic cooperation agreements with well-known enterprises to promote renewable energy projects, enhancing its competitive advantage in the market[34]. Technological Innovation and Development - The company is focused on technological innovation and market integration in the fields of offshore wind power, energy storage, and photovoltaic development[25]. - The company has established three common technology platforms to support the development of high-end transmission power equipment, contributing to the high-quality development of the power grid industry chain[39]. - The company is actively involved in various green energy storage projects, including a 10MW/20MWh wind storage project in Hunan[96]. - The company is developing new technologies and high-end products for offshore wind power, including dynamic cables for deep-sea floating wind turbines[93]. - The company has developed high-performance PI films, breaking the reliance on imports, with ZI-C products in the thickness range of 25um to 62.5um being supplied to the market, and ZI-C ultra-thick products of 100um and above successfully introduced[108]. International Expansion and Market Growth - The company has enhanced its global marketing network and overseas production capacity, resulting in significant revenue growth from overseas industrial bases during the reporting period[46]. - The company established new subsidiaries in Georgia and Bangladesh, as well as a project service company in Singapore, to facilitate the expansion of its overseas business[48]. - The company is expanding its investment in new energy sectors, including solar and energy storage technologies, in response to national policies[161]. Renewable Energy and Environmental Commitment - The offshore wind power sector in China saw a new installed capacity of 16.9 GW in 2021, leading the world in both new and cumulative installed capacity[51]. - The cumulative installed capacity of electrochemical energy storage in China reached 5.51 GW by the end of 2021, representing a year-on-year growth of 68.5%[58]. - The company aims to reduce energy consumption intensity by 40% and carbon dioxide emissions by 50% by 2030 compared to 2020 baseline data, as part of its green low-carbon manufacturing initiative[125]. - The company has been recognized with multiple certifications for energy management and greenhouse gas management across its subsidiaries, promoting sustainable manufacturing practices[125]. Research and Development - The company's R&D expenses rose to ¥1.47 billion, reflecting a significant increase of 20.68% from ¥1.22 billion year-on-year[130]. - The number of R&D personnel was 736, accounting for 5.73% of the total workforce[140]. - In 2021, the company submitted 374 patent applications in China and 20 PCT applications, receiving 98 invention patents, with notable awards including the Silver Award at the 22nd China Patent Awards[119]. - The company completed over 170 new product and technology developments, with 26 products recognized as internationally leading by relevant authorities[117]. Strategic Partnerships and Collaborations - The company has established strategic partnerships with several state-owned power generation groups and energy enterprises to enhance its photovoltaic resource development capabilities[97]. - The company has established innovation cooperation platforms with 53 research institutes and universities, maintaining over 40 annual research projects to enhance key technology research and talent training[121]. Investment and Financial Management - The company has invested a total of RMB 17,600 million in Zhongtian Jintou Co., Ltd., holding a 100% stake[155]. - The company has a total of RMB 20,000 million invested in Zhongtian Energy Storage Technology Co., Ltd., also holding a 100% stake[155]. - The company's short-term borrowings rose by 189.84% to approximately CNY 3.45 billion, mainly to support marine business liquidity needs[144]. - Long-term equity investments increased by 63.35% to approximately CNY 732.75 million, primarily due to increased investment in China Communications Technology Co., Ltd.[144].

江苏中天科技股份有限公司 2021 年第三季度报告 单位：元 币种：人民币 1 / 14 证券代码：600522 证券简称：中天科技 转债代码：110051 转债简称：中天转债 江苏中天科技股份有限公司 2021 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 本报告期比上 | --- | --- | --- | --- | --- | |------------------------------------------------|-------------------|-------------------------|--------- ...

Financial Performance - Total assets increased by 4.81% to RMB 42.13 billion compared to the end of the previous year[5] - Net profit attributable to shareholders increased by 10.84% to RMB 1.58 billion year-on-year[5] - Operating revenue grew by 4.02% to RMB 30.36 billion compared to the same period last year[5] - Basic earnings per share rose by 11.04% to RMB 0.5248[5] - The company's weighted average return on equity increased by 0.03 percentage points to 7.18%[5] - The company's diluted earnings per share increased by 10.82% to RMB 0.4957[5] - Net profit attributable to the parent company increased to RMB 10.82 billion as of September 30, 2020, from RMB 9.53 billion as of December 31, 2019[19] - Total operating revenue for the first three quarters of 2020 reached RMB 30.36 billion, a 4% increase compared to RMB 29.19 billion in the same period of 2019[23] - Net profit for Q3 2020 was 514.67 million RMB, up 49.2% from 344.86 million RMB in Q3 2019[24] - Operating profit for Q3 2020 stood at 662.48 million RMB, a 46.1% rise from 453.55 million RMB in Q3 2019[24] - Total comprehensive income for Q3 2020 was 512.65 million RMB, up 34.3% from 381.67 million RMB in Q3 2019[25] - Basic earnings per share for Q3 2020 were 0.1668 RMB, a 46.7% increase from 0.1137 RMB in Q3 2019[25] - Net profit for the first three quarters of 2020 reached 1,329,188,974.66 RMB, a significant increase compared to 1,125,143,110.06 RMB in the same period of 2019[29] - Total comprehensive income for the first three quarters of 2020 was 1,347,716,543.41 RMB, up from 1,138,397,478.81 RMB in 2019[30] Cash Flow and Liquidity - Cash flow from operating activities improved significantly, with a net outflow of RMB 47.82 million compared to RMB 626.78 million in the same period last year[5] - Cash and cash equivalents decreased to RMB 8.00 billion as of September 30, 2020, from RMB 9.97 billion as of December 31, 2019[17] - Cash flow from operating activities for the first three quarters of 2020 was -47,821,909.17 RMB, an improvement from -626,777,424.28 RMB in 2019[31] - Cash flow from investing activities for the first three quarters of 2020 was -969,809,377.81 RMB, compared to -1,453,053,127.33 RMB in 2019[33] - Cash flow from financing activities for the first three quarters of 2020 was -918,687,237.97 RMB, a decrease from 1,639,314,739.94 RMB in 2019[33] - Cash and cash equivalents at the end of the third quarter of 2020 were 7,059,910,611.01 RMB, up from 5,659,971,004.30 RMB at the same time in 2019[33] - Net cash flow from operating activities for the first three quarters of 2020 was -1,102,571,931.44 RMB, compared to -219,135,891.74 RMB in the same period of 2019[34] - Net cash flow from investing activities for the first three quarters of 2020 was 837,405,361.43 RMB, a significant improvement from -2,758,339,583.92 RMB in the same period of 2019[34] - Net cash flow from financing activities for the first three quarters of 2020 was -1,080,216,980.20 RMB, compared to 2,086,594,073.96 RMB in the same period of 2019[35] - The net increase in cash and cash equivalents for the first three quarters of 2020 was -1,352,770,474.77 RMB, compared to -886,005,022.47 RMB in the same period of 2019[35] - The ending balance of cash and cash equivalents for the first three quarters of 2020 was 2,334,933,576.59 RMB, compared to 1,371,708,525.09 RMB in the same period of 2019[35] Assets and Liabilities - Total assets increased to RMB 42.13 billion as of September 30, 2020, compared to RMB 40.19 billion as of December 31, 2019[17][19] - Accounts receivable increased to RMB 8.25 billion as of September 30, 2020, compared to RMB 6.47 billion as of December 31, 2019[17] - Total liabilities increased to RMB 19.27 billion as of September 30, 2020, from RMB 18.70 billion as of December 31, 2019[18][19] - Short-term borrowings decreased to RMB 1.17 billion as of September 30, 2020, from RMB 1.33 billion as of December 31, 2019[18] - Total equity increased to RMB 22.86 billion as of September 30, 2020, compared to RMB 21.49 billion as of December 31, 2019[19] - Fixed assets decreased to RMB 8.74 billion as of September 30, 2020, from RMB 9.05 billion as of December 31, 2019[18] - Inventory increased to RMB 7.40 billion as of September 30, 2020, compared to RMB 7.14 billion as of December 31, 2019[17] - Long-term loans decreased to RMB 1.29 billion as of September 30, 2020, from RMB 1.63 billion as of December 31, 2019[18] - Total assets as of the end of Q3 2020 were RMB 28.20 billion, remaining stable compared to RMB 28.20 billion at the end of 2019[21] - Accounts receivable increased by 17.8% to RMB 5.16 billion in Q3 2020, compared to RMB 4.38 billion at the end of 2019[21] - Total liabilities decreased by 9.2% to RMB 10.29 billion in Q3 2020, compared to RMB 11.34 billion at the end of 2019[22] - Short-term borrowings decreased by 57.2% to RMB 141.51 million in Q3 2020, compared to RMB 330.62 million at the end of 2019[22] - Prepayments decreased by 77.7% to RMB 233.74 million in Q3 2020, compared to RMB 1.05 billion at the end of 2019[21] - Other receivables increased by 54% to RMB 2.36 billion in Q3 2020, compared to RMB 1.53 billion at the end of 2019[21] - Total assets as of Q3 2020 amounted to 8.10 billion RMB, a 13.3% increase from 7.14 billion RMB in Q3 2019[28] Revenue and Expenses - Operating costs for the first three quarters of 2020 were RMB 28.40 billion, up 2.9% from RMB 27.59 billion in the same period of 2019[23] - R&D expenses increased by 24.1% to RMB 879.68 million in the first three quarters of 2020, compared to RMB 708.58 million in the same period of 2019[23] - Revenue for Q3 2020 reached 2.71 billion RMB, a 7.8% increase compared to 2.52 billion RMB in Q3 2019[28] - R&D expenses in Q3 2020 surged to 111.90 million RMB, a 100.2% increase from 55.90 million RMB in Q3 2019[28] - Sales revenue from goods and services for the first three quarters of 2020 was 29,204,123,295.98 RMB, slightly higher than 28,745,044,362.75 RMB in 2019[31] - Payments for goods and services in the first three quarters of 2020 were 27,057,067,111.87 RMB, down from 27,565,226,338.95 RMB in 2019[31] - Payments to employees in the first three quarters of 2020 were 1,339,029,133.75 RMB, an increase from 1,158,410,831.51 RMB in 2019[33] - Tax payments in the first three quarters of 2020 were 897,402,899.64 RMB, down from 945,467,665.48 RMB in 2019[33] - Sales revenue from goods and services received in cash for the first three quarters of 2020 was 7,388,315,373.60 RMB, an increase from 6,420,768,577.42 RMB in the same period of 2019[34] - Cash paid for goods and services for the first three quarters of 2020 was 7,810,344,533.27 RMB, an increase from 6,049,305,779.93 RMB in the same period of 2019[34] - Cash paid to employees for the first three quarters of 2020 was 338,225,912.33 RMB, an increase from 267,898,163.25 RMB in the same period of 2019[34] Investments and Financial Instruments - Transactional financial assets decreased by 85.18% to 67,540,516.74, mainly due to a reduction in structured deposits[10] - Derivative financial assets increased by 332.38% to 102,609,325.54, primarily due to an increase in forward exchange floating gains[10] - Other equity instrument investments surged by 364.94% to 568,154,436.48, driven by external equity investments and fair value changes[10] - Financial expenses increased by 158.37% to 322,328,954.20, primarily due to higher amortized interest on convertible bonds[12] - Fair value change gains rose by 182.08% to 147,001,887.93, mainly due to changes in the value of other non-current financial assets[12] - As of September 30, 2020, 757,000 yuan of "Zhongtian Convertible Bonds" had been converted into 74,304 shares, accounting for 0.0024% of the total shares before conversion[13] - Investment income for Q3 2020 reached 11.34 million RMB, a 30.9% increase from 8.66 million RMB in Q3 2019[28] - Interest income for Q3 2020 was 22.80 million RMB, a 786.2% surge from 2.57 million RMB in Q3 2019[28] Shareholder and Equity Information - The company's largest shareholder, Zhongtian Technology Group, holds 25.05% of the shares[7] - The number of shareholders decreased to 202,538 by the end of the reporting period[7] - The company plans to continue its share repurchase program, with the repurchase period ending on February 13, 2021[13] Government Subsidies and Other Income - Government subsidies received during the period amounted to RMB 156.25 million[6] - Cash received from tax refunds for the first three quarters of 2020 was 2,500,656.54 RMB, a decrease from 28,329,403.51 RMB in the same period of 2019[34] - Cash received from other operating activities for the first three quarters of 2020 was 252,336,278.66 RMB, an increase from 142,179,796.75 RMB in the same period of 2019[34] Credit and Impairment - Credit impairment losses in Q3 2020 were -33.24 million RMB, a 54.0% improvement from -72.35 million RMB in Q3 2019[24]