Financial Performance - Operating revenue for the first quarter reached CNY 1,785,384,594.04, representing a 34.33% increase year-on-year[4] - Net profit attributable to shareholders was CNY 75,623,338.89, an increase of 88.76% compared to the same period last year[4] - Basic earnings per share doubled to CNY 0.08, up from CNY 0.04 in the same quarter last year[4] - Total profit for Q1 2021 was ¥12,967.25 million, reflecting a 65.42% increase from ¥7,839.10 million in the same period last year, attributed to revenue growth[12] - Net profit for Q1 2021 reached CNY 103,639,563.08, representing a 72.1% increase from CNY 60,252,085.48 in Q1 2020[24] - The company reported a significant increase in management expenses, which rose to CNY 138,873,158.71 in Q1 2021 from CNY 109,302,266.67 in Q1 2020[24] Cash Flow - Net cash flow from operating activities improved significantly to CNY 160,207,020.72, compared to a negative cash flow of CNY -81,757,346.93 in the previous year[4] - Cash received from sales and services was ¥134,055.63 million, a 47.78% increase from ¥90,713.96 million in Q1 2020, indicating improved cash collection[13] - The cash inflow from operating activities totaled CNY 1,387,360,277.19 in Q1 2021, compared to CNY 972,261,303.30 in Q1 2020, marking an increase of about 42.6%[30] - The total cash flow for the period was -66,094,782.59 RMB, an improvement from -251,433,353.61 RMB in the previous year, indicating a positive change of approximately 73.8%[31] Assets and Liabilities - Total assets increased by 3.01% to CNY 16,137,625,188.26 compared to the end of the previous year[4] - Total liabilities reached ¥8,924,984,954.81, up from ¥8,494,971,295.65, which is an increase of around 5%[18] - Current liabilities totaled ¥6,480,144,335.40, compared to ¥6,053,755,522.91, marking an increase of approximately 7%[18] - The company’s cash and cash equivalents stood at ¥3,001,091,849.15 as of March 31, 2021, slightly down from ¥3,052,435,760.65 at the end of 2020[16] - The company’s long-term borrowings slightly decreased to ¥2,077,491,674.98 from ¥2,099,573,566.64, showing a reduction of about 1%[18] Shareholder Information - The total number of shareholders at the end of the reporting period was 75,741[7] - The top shareholder, Guizhou Jinjian Aviation Hydraulic Co., Ltd., holds 24.41% of the shares[7] Goodwill and Acquisitions - The company recognized goodwill of CNY 40,516,349.03 related to the acquisition of Zhonghang Special Materials[5] - The company recognized goodwill of ¥4,137.86 million due to the re-inclusion of a subsidiary, resulting in an increase in consolidated goodwill[10] Operating Costs - Operating costs increased by 39.71% to ¥134,950.25 million from ¥96,595.28 million, primarily due to rising raw material prices and significant revenue growth[11] - Total operating costs for Q1 2021 were CNY 1,596,097,422.85, up 36.3% from CNY 1,171,576,288.82 in Q1 2020[23] Other Income and Expenses - Other income increased significantly by 178.86% to ¥469.59 million, primarily due to increased government subsidies received[12] - The company’s tax expenses rose by 43.52% to ¥2,603.29 million, driven by increased taxable income[12] - The company reported a financial expense of CNY 1,973,344.03 in Q1 2021, down from CNY 3,074,277.54 in Q1 2020, reflecting a decrease of approximately 35.8%[26] Inventory and Receivables - Accounts receivable rose to ¥3,074,220,743.01 from ¥2,338,901,333.85, reflecting a significant increase of approximately 31.5%[17] - Inventory increased to ¥3,151,777,819.60, up from ¥3,061,595,095.52, showing a growth of about 2.9%[17]

Financial Performance - The company's operating revenue for 2020 was CNY 6,698,164,989.34, an increase of 11.92% compared to CNY 5,984,908,825.86 in 2019[15]. - The net profit attributable to shareholders for 2020 was CNY 343,807,842.18, representing a growth of 24.91% from CNY 275,255,465.74 in the previous year[15]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 271,522,962.71, up 5.74% from CNY 256,785,998.19 in 2019[15]. - The basic earnings per share (EPS) for 2020 was CNY 0.37, reflecting a 5.71% increase from CNY 0.35 in 2019[16]. - The company's total revenue reached CNY 6,698,164,989.34, representing a year-on-year growth of 11.92%[35]. - The total profit amounted to CNY 51,358.92 million, reflecting a year-on-year increase of 25.89%[34]. Cash Flow and Assets - The net cash flow from operating activities for 2020 was CNY 658,436,313.59, a decrease of 15.96% compared to CNY 783,441,157.08 in 2019[15]. - The company's net cash flow from investment activities improved by CNY 3,203.20 million, primarily due to the sale of stocks[37]. - The total assets at the end of 2020 amounted to CNY 15,666,335,776.58, reflecting an 8.95% increase from CNY 14,380,016,683.94 in 2019[15]. - As of the end of 2020, the net assets attributable to shareholders were CNY 6,711,656,205.45, an increase of 9.51% from CNY 6,129,042,085.83 at the end of 2019[15]. Revenue Breakdown - The revenue from the forging and casting business was CNY 4.981 billion, a year-on-year increase of 13.77%[24]. - The revenue from the hydraulic and thermal control business was CNY 1.717 billion, representing a year-on-year growth of 6.85%[25]. - The aviation segment contributed 4.180 billion RMB to the forging and casting revenue, growing by 14.96% and accounting for 83.92% of the segment's total[31]. Research and Development - The company maintained a strong focus on R&D, particularly in high-temperature alloys and titanium alloys, enhancing its competitive edge in the aviation sector[30]. - Research and development expenses increased by 44.93% to CNY 294,921,786.96, indicating a significant investment in new product development[37]. - The total R&D expenditure for the period was CNY 294,921,786.96, accounting for 4.4% of operating revenue[48]. Dividend Policy - The company plans to distribute a cash dividend of CNY 0.495 per 10 shares, totaling CNY 46,514,201.58, based on a total share capital of 939,680,840 shares as of the end of 2020[3]. - The company has implemented cash dividends for three consecutive years, with the 2019 cash dividend being CNY 42,012,172.80, representing 15.26% of the consolidated net profit[81]. - The company's cash dividend policy has been adjusted in accordance with regulatory requirements to enhance shareholder returns[79]. Corporate Governance - The company has established independent operational capabilities, including assets, personnel, qualifications, and market-facing capabilities, to ensure no interference from controlling shareholders[88]. - The company has committed to maintaining an independent organizational structure, ensuring that its operations are completely separate from those of its controlling shareholders[88]. - The company held 4 shareholder meetings during the reporting period, including 3 temporary and 1 regular meeting, ensuring equal rights for all shareholders, especially minority shareholders[176]. Environmental and Social Responsibility - The company faced an environmental penalty of 80,000 due to improper waste management but has since implemented corrective measures[131]. - The company actively participates in poverty alleviation through various initiatives, including industrial support and party-building assistance[125]. - A total of 287.23 million was allocated for poverty alleviation funds, with 43.03 million in material donations, helping 826 registered impoverished individuals to escape poverty[127]. Legal and Compliance - The company faced no risks of suspension or termination of its listing status during the reporting period[99]. - The company disclosed that there were no major litigation or arbitration matters affecting its operations during the fiscal year[100]. - The audit report provided a standard unqualified opinion on the financial statements, indicating compliance with accounting standards[187]. Employee and Management Structure - The number of employees in the parent company is 48, while the total number of employees in major subsidiaries is 7,117, resulting in a combined total of 7,165 employees[170]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 5.879 million yuan[167]. - The company has a diverse management team with extensive experience in the aviation and manufacturing sectors, enhancing its operational capabilities[164].

Financial Performance - The company's operating revenue for 2019 was CNY 5,984,908,825.86, representing a 9.94% increase compared to CNY 5,444,030,711.24 in 2018[16] - The net profit attributable to shareholders for 2019 was CNY 275,255,465.74, a decrease of 17.38% from CNY 333,144,996.67 in 2018[16] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 256,785,998.19, showing a significant increase of 1,852.70% compared to CNY 13,150,276.83 in 2018[16] - The net cash flow from operating activities for 2019 was CNY 783,441,157.08, which is a 103.58% increase from CNY 384,840,658.59 in 2018[16] - The total assets at the end of 2019 were CNY 14,380,016,683.94, reflecting a 19.14% increase from CNY 12,069,953,807.08 at the end of 2018[17] - The net assets attributable to shareholders at the end of 2019 were CNY 6,129,042,085.83, an increase of 44.21% from CNY 4,250,204,245.63 at the end of 2018[17] - The total profit for the period was RMB 407.968 million, representing a growth of 38.63% year-on-year[37] - The main business income increased by 10.58% to RMB 5.837 billion, with the forging business growing by 11.54%[41] - The total operating revenue for the reporting period reached RMB 5.984 billion, reflecting a 9.94% increase compared to the previous year[38] Dividends and Profit Distribution - The company plans to distribute a cash dividend of CNY 0.45 per 10 shares, totaling CNY 42,012,172.80, based on a total share capital of 933,603,840 shares[4] - The cash dividend distribution for 2019 represents 35% of the net profit in the parent company’s financial statements, which is below the Shanghai Stock Exchange's guideline of 30%[85] - The company emphasizes cash dividends as a means to return value to investors, adhering to relevant laws and regulations while considering long-term development and maximizing investor returns[86] Business Operations and Market Presence - The company operates in various sectors including forging and hydraulic ring control, serving industries such as aerospace, power, and automotive[25] - The forging and casting business achieved revenue of 4.378 billion yuan, a year-on-year increase of 11.85%[26] - The hydraulic and thermal control business generated revenue of 1.607 billion yuan, growing by 9.69% year-on-year[27] - The company plans to leverage national infrastructure investments and policies like the Belt and Road Initiative to enhance growth opportunities in its forging and hydraulic control sectors[28] - The company has registered product trademarks in 31 countries and regions, indicating a strong international market presence for its hydraulic and thermal control products[27] - The company is focusing on upgrading its hydraulic and thermal control products to compete in the high-end market, which is currently dominated by foreign enterprises[29] Research and Development - Research and development expenses rose to RMB 203.487 million, a 1.3% increase compared to the previous year[39] - The company employed 378 R&D personnel, representing 5.28% of the total workforce[52] - Investment in R&D increased by 25% in 2019, totaling 300 million yuan, focusing on innovative technologies and product development[173] Financial Management and Assets - The company's total net assets at the end of the reporting period were CNY 6.13 billion, an increase of 44.21% year-on-year, mainly due to a non-public issuance of A shares raising CNY 1.30 billion[19] - The company's cash and cash equivalents increased by 150.60%, reaching approximately 2.674 billion yuan, primarily due to net fundraising and increased receivables[30] - The capital reserve rose by 69.45% to approximately 2.849 billion yuan, mainly from the premium of non-publicly issued A-shares[31] - The company's asset-liability ratio decreased to 54.64% by the end of 2019, down 7.15 percentage points from the beginning of the year[151] Corporate Governance and Compliance - The company emphasizes that forward-looking statements in the report do not constitute a substantive commitment to investors, highlighting potential risks[5] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[5] - The company has committed to not using the controlling shareholder's advantages to occupy company funds or engage in actions detrimental to the interests of the company and its shareholders[89] - The company ensures independent operations by maintaining separate assets, personnel, and financial management from its controlling shareholder and related entities[89] - The company has established a framework to ensure independent financial decision-making and management, free from interference by related parties[89] Social Responsibility and Community Engagement - The company is actively participating in poverty alleviation efforts, aligning with national strategies and ensuring completion of assigned tasks[134] - In 2019, the company allocated a total of RMB 173.33 million for poverty alleviation efforts, achieving the goal of helping 1,399 registered impoverished individuals to escape poverty[137] - The company provided RMB 4.12 million in financial aid to 64 impoverished students, alongside an additional RMB 2.3 million to improve educational resources in impoverished areas[138] - In response to the COVID-19 pandemic, the company donated RMB 1 million to support medical teams in Hubei province[140] Future Outlook and Strategic Goals - The company anticipates a stable market space for aviation defense products, with the domestic aviation transport market expected to grow at an annual rate of 8%[72] - The global aviation passenger volume is projected to grow at an annual rate of 4.5%, requiring over 33,000 new aircraft valued at approximately USD 5.2 trillion by 2035[72] - The company aims to achieve a breakthrough in international aviation market outsourcing by 2020[69] - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by 2021[175] - A strategic acquisition of a local competitor is expected to enhance the company's production capacity by 30% in the next fiscal year[174] Related Party Transactions - The company reported a significant related party transaction amounting to ¥1,662,252,136.65, which accounted for 27.77% of similar transaction amounts[117] - The total amount of related party transactions during the reporting period reached ¥4,457,322,790.22[118] - The company has a loan balance with a related party amounting to ¥874,500,000.00, which is 27.66% of similar transactions[118] Shareholder Information - The company completed a non-public offering of 155,600,640 shares, increasing the total share capital to 933,603,840 shares[146] - The company's net asset value per share increased from RMB 6.21 to RMB 6.56 following the share issuance[147] - The top ten shareholders include Guizhou Jinjiang Aviation Hydraulic Co., Ltd. with 24.57% and China Guizhou Aviation Industry Group Co., Ltd. with 6.91%[153] - The company has a total of 55,917 ordinary shareholders as of the end of the reporting period, an increase from 55,641 at the end of the previous month[152] Internal Control and Audit - The company maintained a robust internal control system, completing an internal control self-assessment without identifying any major defects[193] - The company has not faced any penalties from securities regulatory agencies in the past three years[183] - The company has no major errors in accounting that require correction during the reporting period[105]

Financial Performance - Operating revenue for the first quarter reached CNY 1.33 billion, a year-on-year increase of 10.68%[4] - Net profit attributable to shareholders was CNY 40.06 million, representing a 35.83% increase from the same period last year[4] - The total profit for Q1 2020 was ¥78.39 million, representing a 46.65% increase from ¥53.46 million in Q1 2019, driven by revenue growth[10] - Net profit for Q1 2020 reached ¥60,252,085.48, compared to ¥37,576,145.36 in Q1 2019, representing a growth of 60.2%[19] - The company reported a total profit of ¥78,391,028.19 for Q1 2020, compared to ¥53,456,031.39 in Q1 2019, an increase of 46.6%[19] Cash Flow - The net cash flow from operating activities was negative at CNY -81.76 million, worsening from CNY -33.98 million in the previous year[4] - Cash received from operating activities increased by 89.31% to ¥59.06 million in Q1 2020 from ¥31.20 million in Q1 2019, mainly due to increased receivables[12] - The net cash flow from operating activities was -81,757,346.93 RMB in Q1 2020, compared to -33,976,812.09 RMB in Q1 2019, indicating a decline in cash flow performance[23] - The total cash inflow from investment activities was 76,915,844.92 RMB, significantly higher than 5,587,604.27 RMB in the same period last year, indicating a year-over-year increase of approximately 1,275%[25] - The net cash flow from investment activities was -240,411,095.82 RMB, contrasting with a positive cash flow of 5,587,604.27 RMB in Q1 2019, reflecting a substantial decline[25] Assets and Liabilities - Total assets increased by 2.16% to CNY 14.69 billion compared to the end of the previous year[4] - The company's total assets as of March 31, 2020, amounted to ¥10.41 billion, an increase from ¥10.10 billion as of December 31, 2019, indicating growth in asset base[13] - Current liabilities rose to ¥7,425,814,493.53, up from ¥6,106,297,548.30, indicating an increase of 21.59%[14] - Total liabilities increased to ¥8,141,110,533.89 compared to ¥7,856,652,194.83, reflecting a growth of 3.63%[15] - Owner's equity totaled ¥6,549,902,922.25, up from ¥6,523,364,489.11, showing an increase of 0.41%[15] Shareholder Information - The total number of shareholders at the end of the reporting period was 55,641[7] - The largest shareholder, Guizhou Jinjian Aviation Hydraulic Co., Ltd., held 24.57% of the shares[7] Research and Development - R&D expenses for Q1 2020 rose by 55.00% to ¥43.05 million compared to ¥27.78 million in Q1 2019, reflecting increased investment in research and development[10] - The company's R&D expenses increased to ¥43,054,239.15 in Q1 2020, up from ¥27,777,003.46 in Q1 2019, marking a rise of 55.1%[18] Financial Position - The company's long-term borrowings decreased by 81.93% to ¥235.41 million as of March 31, 2020, down from ¥1.30 billion as of December 31, 2019, due to reclassification of long-term loans[9] - Non-current liabilities decreased to ¥715,296,040.36 from ¥1,750,354,646.53, a decline of 59.00%[15] - Cash and cash equivalents decreased to ¥1,115,253,375.48 from ¥1,400,985,121.93, a decline of 20.41%[15] Other Financial Metrics - The company recorded a credit impairment loss of ¥57.18 million in Q1 2020, which is an increase compared to ¥33.76 million in Q1 2019, indicating a rise in bad debt provisions[10] - The company reported a significant increase in minority shareholders' profit by 149.86% to ¥20.19 million in Q1 2020, up from ¥8.08 million in Q1 2019, due to increased net profit from non-wholly-owned subsidiaries[11] - The company experienced a significant increase in financial expenses, totaling ¥25,136,252.90 in Q1 2020, compared to ¥39,050,484.61 in Q1 2019, a decrease of 35.5%[18] - Other comprehensive income after tax was reported at -¥43,300,000.00 for Q1 2020, indicating a negative impact on equity[19]