证券代码：600698（A 股） 900946（B 股） 公告编号：临 2021-022 证券简称：湖南天雁（A 股） 天雁 B 股（B 股） 湖南天雁机械股份有限公司 关于参加2021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。 为进一步做好投资者关系管理工作，增强与广大投资者的互动交流，湖南天 雁机械股份有限公司（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与深圳市全景网络有限公司联合举办的"2021 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，投资者可以登录"全景·路演天下"网站（http://rs.p5w.net）参 与本次投资者网上接待日活动，活动时间为 2021 年 9 月 24 日（星期五）下午 15:00 至 17:00。 届时公司董事会秘书等相关人员出席本次网上投资者集体接待日活动,将与 投资者进行网上交流。欢迎广 ...

证券代码：600698（A 股） 900946（B 股） 公告编号：临 2020-025 证券简称：ST 天雁（A 股） ST 天雁 B（B 股） | --- | --- | |-------|------------------------------------------------------------------------------| | | | | | 湖南天雁机械股份有限公司关于参加 2020 年 | | | 湖南辖区上市公司投资者网上接待日活动的公告 | | | 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。 | 为进一步做好投资者关系管理工作，增强与广大投资者的互动交流，湖南天 雁机械股份有限公司（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与深圳市全景网络有限公司联合举办的"2020 年湖南辖区上市公司投资者网上接待日"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网上平 台，采取网络远程的方式举行，投资者 ...

证券代码：600698（A 股） 900946（B 股） 公告编号：临 2019-035 证券简称：*ST 天雁（A 股） *ST 天雁 B（B 股） | --- | --- | |-------|------------------------------------------------------------------------------| | | | | | 湖南天雁机械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。 | 为进一步做好投资者关系管理工作，增强与广大投资者的互动交流，湖南天 雁机械股份有限公司（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与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，投资者可以登录"全景· ...

湖南天雁机械股份有限公司 2018 年三季度报告 公司代码：600698 900946 公司简称：湖南天雁 天雁 B 股 湖南天雁机械股份有限公司 2018 年第三季度报告 二零一八年十月 1 / 20 | 目录 | | --- | 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。 二、 公司基本情况 2.1 主要财务数据 3 / 20 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 1,256,999,588.00 1,334,449,001.85 -5.80% 归属于上市公司 股东的净资产 574,844,408.64 577,281,057.25 -0.42% 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 -4,586,160.16 -26,789,470.54 82.88% 年初至报告期末 （1-9 月） 上年初至上年 ...

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 283,461,762.80, a decrease of 13.90% compared to CNY 329,217,688.52 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was a loss of CNY 3,360,124.82, representing a decline of 158.15% from a profit of CNY 5,778,000.43 in the previous year[16]. - The net cash flow from operating activities was a negative CNY 10,000,588.97, a decrease of 642.05% compared to negative CNY 1,347,694.02 in the same period last year[16]. - The total assets at the end of the reporting period were CNY 1,049,794,998.74, down 21.33% from CNY 1,334,449,001.85 at the end of the previous year[16]. - The basic earnings per share for the first half of 2018 was -CNY 0.0035, a decrease of 159.32% from CNY 0.0059 in the same period last year[17]. - The weighted average return on net assets was -0.58%, a decrease of 1.45 percentage points compared to 0.87% in the previous year[17]. Revenue Decline Factors - The decline in revenue was attributed to the lag in following emission standards and a downturn in the gasoline engine market, leading to reduced sales of the main product, turbochargers[18]. - The company faced a decline in the installation volume of both diesel and gasoline turbochargers, leading to a drop in revenue[34]. Cost and Expenses - The operating cost decreased by 12.77% to CNY 232,073,348.26 from CNY 266,043,070.39 year-on-year[34]. - Management expenses increased by 3.66% year-on-year due to the rise in other project costs[35]. - Financial expenses decreased by 50.95% year-on-year, primarily due to reduced bank fees and payment discounts[35]. - The company reported a decrease in sales expenses to RMB 19,720,748.48 from RMB 25,605,770.49, a reduction of 22.9%[94]. - Management expenses increased to RMB 31,828,304.19 from RMB 30,704,800.31, an increase of 3.7%[94]. Cash Flow and Liquidity - The net cash flow from operating activities decreased year-on-year due to delayed payments from customers and strategic procurement prepayments[35]. - Cash and cash equivalents decreased by 73.73% year-on-year, mainly due to the repayment of 250 million yuan in entrusted loans[39]. - The ending cash and cash equivalents balance was 61,589,302.99 RMB, significantly lower than 350,646,359.09 RMB at the end of the previous period[100]. - The company reported a total cash decrease of 257,915,442.41 RMB during the period, compared to a decrease of 3,630,086.99 RMB previously[100]. Research and Development - Research and development expenses were CNY 16,018,890.19, a decrease of 4.79% from CNY 16,824,017.26 in the previous year[34]. - The company plans to enhance research and development for turbocharger products to address competitive risks and market expansion[45]. Market Position and Strategy - The company is focusing on consolidating its diesel turbocharger market while expanding its gasoline turbocharger market and enhancing new product development[32]. - The automotive parts industry is facing intense competition, particularly in the saturated diesel turbocharger market, while the gasoline turbocharger market is growing rapidly[27]. - The company is leveraging its technological advantages, being the only domestic enterprise with a national-level technology center for turbochargers[29]. Shareholder and Governance - The company did not distribute profits or increase capital reserves during the reporting period[4]. - The company has committed to avoiding or minimizing related party transactions with its subsidiaries and ensuring fair pricing for such transactions[53]. - The largest shareholder, China Changan Automobile Group, holds 305,474,988 shares, representing 31.43% of total shares[78]. - The company has undergone changes in its board of directors, with several members being elected or resigning during the reporting period[83]. Legal and Compliance Issues - The company is involved in a lawsuit regarding a contract dispute with a subsidiary, with a claim amount of 23.2 million RMB[58]. - The company faced regulatory measures due to failure to timely disclose a significant administrative penalty related to its wholly-owned subsidiary, resulting in a warning letter from the China Securities Regulatory Commission[59]. - The integrity status of the company and its major stakeholders remained good during the reporting period, with no significant debts unpaid[60]. Accounting and Financial Reporting - The company prepares financial statements based on the going concern assumption, adhering to the relevant accounting standards and regulations[125]. - The financial statements are prepared in accordance with the enterprise accounting standards, reflecting the company's financial position, operating results, changes in shareholders' equity, and cash flows accurately[128]. - The company confirms its ability to continue as a going concern for the next 12 months without any significant issues affecting this capability[126]. - The company does not have any significant changes in accounting policies or estimates during the reporting period[198].

湖南天雁机械股份有限公司 2018 年第一季度报告 公司代码：600698 900946 公司简称：湖南天雁 天雁 B 股 湖南天雁机械股份有限公司 2018 年第一季度报告 1 / 18 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 8 | 湖南天雁机械股份有限公司 2018 年第一季度报告 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 未出席董事情况 | 未出席董事姓名 | 未出席董事职务 | 未出席原因的说明 | 被委托人姓名 | | --- | --- | --- | --- | | 夏立军 | 董事 | 工作原因 | 刘鹏展 | | 计维斌 | 独立董事 | 工作原因 | 周兰 | | 邢敏 | 独立董事 | 工作原因 | 周兰 | 1.3 公司负责人周建国、主管会计工作负责人刘青娥及会计机构负责人（会计主管人员）刘青娥 保证季度报告中财务报表的真实、准确、完整。 ...

Financial Performance - In 2017, the company's operating revenue was CNY 582.61 million, an increase of 3.71% compared to CNY 561.76 million in 2016[20] - The net profit attributable to shareholders was a loss of CNY 84.04 million, a decrease of 940.70% compared to a profit of CNY 9.99 million in 2016[20] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 93.62 million, a decrease of 4,246.40% compared to a profit of CNY 2.26 million in 2016[20] - The net cash flow from operating activities was a negative CNY 8.23 million, a decrease of 348.56% compared to a positive CNY 3.31 million in 2016[20] - The basic earnings per share were CNY -0.0865, a decrease of 939.81% compared to CNY 0.0103 in 2016[22] - The weighted average return on net assets was -13.57%, a decrease of 15.09 percentage points compared to 1.52% in 2016[22] - The company's accumulated undistributed profits at year-end were CNY -85.27 million, leading to no profit distribution for the year[5] - The decline in net profit was primarily due to intensified market competition, continuous price drops, and rising raw material costs[23] - The company reported a net profit attributable to ordinary shareholders of -84,038,747.67 in 2017, indicating a significant loss compared to a profit of 9,996,272.98 in 2016[85] - The company’s total revenue for the year was approximately CNY 582.61 million, with a year-on-year increase of 3.71%[45] Revenue and Sales - The company's total revenue for 2017 was approximately CNY 582.61 million, with quarterly revenues of CNY 175.60 million, CNY 153.62 million, CNY 132.50 million, and CNY 120.89 million respectively[26] - Revenue from turbochargers was CNY 407.25 million, accounting for 69.9% of total revenue, with a year-on-year decline of 7.33%[45] - Sales of turbochargers totaled 602,600 units, a slight decline of 1.68% year-on-year, while valve sales increased by 39.62% to 5.85 million units[36] - The sales volume of turbochargers decreased by 1.68% year-on-year, while the sales volume of valves increased by 39.62%[46] Costs and Expenses - The company reported a 14.28% increase in operating costs, totaling CNY 500.85 million, primarily due to changes in product structure and higher costs associated with gasoline turbochargers[42] - Total expenses increased by 26.96% year-on-year to CNY 146 million, with sales expenses rising by 31.91%[52] - Direct material costs for turbochargers increased by 17.04% year-on-year, while direct labor costs rose by 17.88%[49] - The gross margin decreased by 7.95 percentage points to 14.03% compared to the previous year[45] Cash Flow and Liquidity - The net cash flow from operating activities showed a negative figure of CNY -25.44 million in the third quarter, but turned positive in the fourth quarter with CNY 18.56 million[26] - Operating cash flow increased by 17.84% year-on-year to ¥453,774,142.77, driven by an increase in cash receipts from notes receivable[57] - Net cash flow from operating activities decreased significantly by 348.6% to -¥8,226,094.80, indicating cash outflows exceeded inflows[57] - The company’s cash and cash equivalents decreased by 141.3% to -¥34,771,700.68, indicating a significant reduction in net cash flow[58] Research and Development - Research and development expenses rose by 70.61% to CNY 50.96 million, reflecting the company's commitment to innovation[41] - The company is focused on enhancing its R&D capabilities to shift from low-end to mid-high-end products, particularly in turbocharger technology for both diesel and gasoline engines[31] - The company completed performance testing for 46 projects related to diesel turbochargers, achieving advanced emission standards[37] - The company introduced five new gasoline engine manufacturers and completed seven projects, all passing performance tests[37] Market and Industry Trends - The automotive parts industry is facing challenges due to energy and environmental issues, with a shift towards fuel-efficient vehicles and the rise of electric vehicles impacting traditional fuel car markets[32] - The diesel turbocharger market is becoming saturated, while the gasoline turbocharger market is experiencing rapid growth, although core technologies remain dominated by foreign companies[32] - The company anticipates continued challenges in the automotive parts industry, with a projected 3% growth in the overall automotive market for 2018[66] Strategic Initiatives - The company plans to focus on the turbocharger for gasoline engines as a new growth driver following its production and sales breakthrough in 2017[22] - The company aims to strengthen its marketing management and expand its domestic and international markets, particularly in the aftermarket segment[31] - Quality improvement and brand enhancement are key strategies, with a focus on strict quality assessments and supplier management[31] - The company is committed to reforming its operational mechanisms to improve efficiency and enhance its core competitiveness in the turbocharger industry[31] Governance and Compliance - The company has committed to avoiding or reducing related party transactions that may lead to competition with its subsidiaries[87] - The company has ensured compliance with new financial reporting formats as mandated by the Ministry of Finance[90] - The company maintained a good integrity status with no significant debts or court judgments unfulfilled during the reporting period[97] - The independent directors did not raise any objections to the board's proposals during the reporting period[159] Social Responsibility - The company allocated a total of 5.08 million RMB for poverty alleviation efforts, helping 135 registered impoverished individuals to escape poverty[108] - The company invested 4 million RMB specifically in industrial development poverty alleviation projects, benefiting 135 registered impoverished individuals[109] - The company provided 1.08 million RMB in support for 81 impoverished individuals with disabilities[109] - The company has committed to ongoing poverty alleviation efforts, including the appointment of liaison officers and the allocation of funds for projects[110] Shareholder Information - The total number of ordinary shares is 971,817,440, with 68.03% being unrestricted shares[121] - The largest shareholder, China Changan Automobile Group Co., Ltd., holds 305,474,988 shares, representing 31.43% of total shares[129] - The total number of ordinary shareholders increased from 147,199 to 155,858 during the reporting period[127] - The company did not experience any changes in share capital due to stock splits, bonuses, or other capital adjustments during the reporting period[126] Internal Control and Audit - The company maintained effective internal control over financial reporting, as confirmed by the internal control audit report[162] - The audit identified key audit matters related to accounts receivable and inventory impairment provisions, highlighting their significance in the financial statements[169] - Management has assessed the recoverability of accounts receivable and the net realizable value of inventory, which are critical for financial statement accuracy[170] Future Outlook - The company anticipates a revenue of 629.7 million yuan and a cost of 529.4 million yuan for 2018, with projected sales of 658,300 turbochargers and 642,930 valves[79] - The company aims for a revenue growth target of 20% for the next fiscal year, driven by new product launches and market expansion[144] - The company plans to focus on expanding its market presence and enhancing product development in the upcoming year, although specific figures were not disclosed[185]

2017 年第三季度报告 公司代码：600698 900946 公司简称：湖南天雁 天雁 B 股 湖南天雁机械股份有限公司 2017 年第三季度报告 1 / 21 二、 公司基本情况 2.1 主要财务数据 3 / 21 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 1,424,407,251.94 1,372,994,839.65 3.74 归属于上市公司 股东的净资产 651,956,198.28 661,319,804.92 -1.42 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 -26,789,470.54 -26,653,024.18 -0.51 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 461,719,830.21 406,689,053.95 13.53 归属于上市公司 -9,363,606.64 7,883,760.13 -218.77 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | ...

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 329,217,688.52, representing a 19.60% increase compared to CNY 275,270,312.52 in the same period last year[16]. - The net profit attributable to shareholders decreased by 20.68% to CNY 5,778,000.43 from CNY 7,284,521.97 year-on-year[16]. - The net profit after deducting non-recurring gains and losses dropped by 87.82% to CNY 727,509.87, down from CNY 5,972,164.15 in the previous year[16]. - The total profit for the period was CNY 6.10 million, with main product sales of turbochargers reaching 359,800 units, up 17.41% year-on-year[30]. - Basic earnings per share decreased by 21.33% to CNY 0.0059 from CNY 0.0075 in the same period last year[17]. - The weighted average return on net assets fell to 0.87%, down from 1.11% in the previous year, a decrease of 0.24 percentage points[17]. - The company reported a net loss of CNY -762,902,758.63, compared to a loss of CNY -768,680,759.06 in the previous period, showing a slight improvement[83]. - The total comprehensive income for the current period decreased by RMB 166,800.00, reflecting a decline in performance[107]. Cash Flow and Liquidity - The net cash flow from operating activities improved significantly, showing a 91.99% increase, resulting in a net cash flow of CNY -1,347,694.02 compared to CNY -16,824,591.82 last year[16]. - The company reported a net cash flow from operating activities of CNY -1.35 million, a significant improvement of 91.99% year-on-year[33]. - The total cash inflow from financing activities was 309,952,400.00 RMB, up from 252,069,100.00 RMB in the previous period, reflecting increased borrowing[96]. - Cash outflow for debt repayment was 296,460,000.00 RMB, significantly higher than 132,000,000.00 RMB in the previous period, indicating a focus on reducing debt[96]. - The total cash and cash equivalents at the end of the period were 350,646,359.09 RMB, slightly down from 356,533,876.54 RMB in the previous period[96]. - The company received 4,130,947.91 RMB in cash related to operating activities, which is a slight decrease from 4,448,096.77 RMB in the previous period[95]. Assets and Liabilities - The company's total assets increased by 4.82% to CNY 1,439,121,390.66 from CNY 1,372,994,839.65 at the end of the previous year[16]. - Total liabilities rose to CNY 772,023,585.31 from CNY 711,675,034.73, reflecting an increase of approximately 8.5%[83]. - Current liabilities totaled CNY 697,287,122.88, up from CNY 650,461,254.80, indicating a growth of about 7.2%[82]. - Non-current liabilities increased to CNY 74,736,462.43 from CNY 61,213,779.93, a rise of approximately 22.1%[82]. - The accounts receivable at the end of the period stood at CNY 339,103,264.39, with a bad debt provision of CNY 3,645,286.74, representing 1.07% of the total[190]. Market and Operational Insights - The company is focusing on expanding its market share and enhancing product quality through technological innovation and strategic management upgrades[24]. - The domestic market for diesel engines saw production and sales growth of 25.54% and 30.53% respectively, although the growth rate has slowed down[25]. - The company aims to leverage national energy-saving and emission-reduction policies to drive the growth of the turbocharger industry[28]. - The company has identified quality control and technology development risks that could impact future product marketability[44]. - The company operates in the automotive parts manufacturing industry, focusing on turbochargers, valves, and other engine components, and is recognized as a national high-tech enterprise[112]. Shareholder and Equity Information - The company reported a total of 971,817,440 shares outstanding, with 310,583,704 shares subject to trading restrictions[64]. - The largest shareholder, China Changan Automobile Group, has no pledged or frozen shares[69]. - The total equity attributable to the parent company at the end of the reporting period is CNY 971,817,440.00, with a total equity of CNY 562,397,999.62[105]. - The company has undergone changes in its board of directors, with new appointments for the chairman and the head of the supervisory board[75]. - The company has not disclosed any significant changes in accounting policies or estimates during the reporting period[61]. Research and Development - Research and development expenses rose to CNY 16.82 million, an increase of 19.38% compared to the previous year[33]. - The company has not reported any new product developments or market expansion strategies in the current report[104]. Corporate Social Responsibility - The company provided 100,000 RMB in funding for a fish farming project in Pingzi Village as part of its poverty alleviation efforts, helping 238 registered impoverished individuals to escape poverty[59]. - The total amount of funds allocated for poverty alleviation projects during the reporting period was 100,000 RMB, with one project initiated[60]. - The company has committed to continue supporting poverty alleviation initiatives in Hengyang City, focusing on infrastructure improvement and employment assistance[60].

Financial Performance - Operating revenue rose by 47.58% to CNY 175,598,639.76 year-on-year[7] - Net profit attributable to shareholders decreased by 15.49% to CNY 2,535,150.04 compared to the same period last year[7] - Basic earnings per share increased by 2.94% to CNY 0.0035[8] - Total operating revenue for Q1 2017 was CNY 175,598,639.76, an increase of 47.6% compared to CNY 118,985,089.78 in the same period last year[27] - Net profit for Q1 2017 reached CNY 3,445,273.74, representing a 4.9% increase from CNY 3,285,844.46 in Q1 2016[29] - Earnings per share for Q1 2017 was CNY 0.0035, slightly up from CNY 0.0034 in the previous year[29] Assets and Liabilities - Total assets increased by 4.46% to CNY 1,434,258,463.13 compared to the end of the previous year[7] - The total current assets amounted to ¥1,139,655,977.60, compared to ¥1,056,126,152.37 at the beginning of the year, reflecting a growth in liquidity[18] - The company's long-term borrowings increased by 82.77% to ¥38,321,774.93 from ¥20,966,774.93, indicating new project financing[19] - The total liabilities rose to ¥769,493,384.47, up from ¥711,675,034.73, showing an increase in financial obligations[19] - Total liabilities were CNY 7,302,844.56, indicating a stable financial position[24] - Owner's equity totaled CNY 562,397,999.62, reflecting a decrease in retained earnings due to accumulated losses[24] Cash Flow - Cash flow from operating activities improved significantly, with a net cash flow of CNY -3,444,799.44, an increase of 89.84% year-on-year[7] - Operating cash inflow for the current period reached ¥118,768,301.00, a 57.5% increase from ¥75,322,193.81 in the previous period[35] - Net cash flow from operating activities was -¥3,444,799.44, an improvement from -¥33,911,335.22 in the previous period[35] - Cash inflow from financing activities was ¥18,132,400.00, significantly higher than ¥2,069,100.00 in the previous period, reflecting increased borrowing[36] - Net cash flow from financing activities improved to ¥10,494,678.70 from -¥19,470,270.01 in the previous period, indicating a positive shift in financing[36] Shareholder Information - The total number of shareholders reached 136,239 by the end of the reporting period[11] - The largest shareholder, China Changan Automobile Group, holds 31.43% of the shares[11] Operational Efficiency - The company's sales revenue for the current period reached ¥115,649,565.81, an increase of 58.60% compared to ¥72,920,852.75 in the previous period, attributed to increased recovery of receivables[15] - The accounts receivable decreased to ¥342,874,638.91 from ¥262,454,885.24, indicating improved collection efforts[18] - The company reported a significant increase in operating tax and additional charges, which reached ¥2,022,114.10, a rise of 156.31% from ¥788,919.60[15] - The impairment loss was reversed, resulting in a recovery of ¥1,858.17, reflecting improved asset management[15] Cost Management - Total operating costs for Q1 2017 were CNY 172,864,809.16, up 49.2% from CNY 115,821,686.20 in Q1 2016[28] - The company reported a gross profit margin of approximately 1.3% for Q1 2017, compared to 2.3% in Q1 2016[28] - Cash paid to employees rose to ¥40,272,513.58, up from ¥33,055,464.52, reflecting increased labor costs[35] - Total cash outflow from operating activities was ¥122,213,100.44, compared to ¥109,233,529.03 in the previous period, indicating higher operational expenses[35] Government Support - The company received government subsidies amounting to CNY 980,859.79, which are closely related to its normal business operations[8] Other Information - There were no significant changes in the company's major accounting items or financial indicators reported[13] - The company has not disclosed any new product developments or market expansion strategies during this reporting period[27] - There were no significant mergers or acquisitions reported in the first quarter of 2017[27]