Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥212.73 million, a decrease of 29.89% compared to ¥303.43 million in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2022 was a loss of approximately ¥18.97 million, compared to a loss of ¥1.03 million in the same period last year[19]. - The basic earnings per share for the first half of 2022 was -¥0.12, down from -¥0.01 in the same period last year[18]. - The weighted average return on net assets for the first half of 2022 was -2.74%, compared to -0.15% in the same period last year[18]. - The total assets decreased by 3.33% to approximately ¥750.03 million from ¥775.87 million in the same period last year[19]. - The company reported a decrease of 0.17% in net assets attributable to shareholders, totaling approximately ¥692.31 million[19]. - The company's gross profit margin and net profit margin are below the average levels of comparable listed companies in the lead-acid battery industry, which are approximately 14-18% and 2-4%, respectively[23]. - The company reported a net loss of CNY -290,908,854.04, compared to a loss of CNY -271,936,786.99 at the beginning of the period, reflecting a worsening of approximately 7%[93]. - The company reported a total comprehensive income of CNY -1,032,069.68 for the current period, indicating a loss[119]. Cash Flow and Liquidity - The net cash flow from operating activities was approximately ¥1.86 million, a significant improvement from a negative cash flow of ¥43.08 million in the same period last year[19]. - The company's cash flow from operating activities showed a significant improvement, with a net cash flow of CNY 1,858,389.38 compared to a negative CNY 43,084,474.26 in the previous year[29]. - The cash and cash equivalents at the end of H1 2022 increased to RMB 40,559,450.08, compared to RMB 21,281,927.78 at the end of H1 2021, reflecting a growth of approximately 90.4%[107]. - The company experienced a net increase in cash and cash equivalents of RMB 1,188,701.28 in H1 2022, contrasting with a net decrease of RMB 47,709,436.19 in H1 2021[107]. - The total cash inflow from operating activities decreased to RMB 189,750,875.31 in H1 2022, down from RMB 228,971,583.81 in H1 2021, representing a decline of approximately 17.1%[106]. Inventory and Receivables - The company's inventory decreased by 22.99%, reflecting efforts to manage stock levels effectively[31]. - The accounts receivable increased by 11.35% to CNY 110,376,652.23, indicating potential challenges in cash collection[31]. - The company reported a significant decrease in cash paid for purchasing goods and services, which was RMB 128,868,266.34 in H1 2022, down from RMB 204,838,024.72 in H1 2021, a reduction of approximately 37.1%[106]. - The cash paid to employees decreased to RMB 17,681,226.34 in H1 2022 from RMB 26,450,361.47 in H1 2021, indicating a decrease of about 33.2%[106]. Strategic Initiatives - The company plans to divest its existing lead-acid battery business and acquire lithium-ion battery cathode material assets, indicating a strategic shift towards more profitable segments[26]. - The company is currently undergoing a significant asset restructuring, which carries various risks including approval delays and potential failure to meet performance commitments[36]. - The company is in the process of a major asset swap and share issuance to support its strategic expansion[73]. Environmental Management - The company’s wastewater treatment facilities are equipped with monitoring systems to ensure compliance with environmental standards[42]. - The company has established a pricing mechanism linked to lead prices to mitigate the impact of price volatility on its operating performance[36]. - The company has a comprehensive emergency response plan for environmental incidents, developed in 2019, to mitigate risks associated with lead-acid battery operations[62]. - The company adheres to environmental laws and regulations, fulfilling its social responsibility in environmental protection[61]. Related Party Transactions and Governance - The company committed to ensuring independence in personnel, assets, finance, organization, and business, as detailed in the announcement on January 20, 2022[67]. - The company reported a commitment to reduce and regulate related party transactions, as outlined in the January 20, 2022 disclosure[68]. - The company confirmed that there are no illegal or dishonest behaviors, as per the January 20, 2022 disclosure[68]. - The company has not faced any non-compliance issues or penalties related to its directors, supervisors, or controlling shareholders[71]. Financial Instruments and Accounting Policies - Financial assets are classified into three categories upon initial recognition: (1) measured at amortized cost; (2) measured at fair value with changes recognized in other comprehensive income; (3) measured at fair value with changes recognized in profit or loss[138]. - The company applies expected credit loss model for impairment of financial assets measured at amortized cost and certain other financial instruments[143]. - The company recognizes financial assets when it becomes a party to the financial instrument contract, measuring them at fair value upon initial recognition[141]. - The company has not reported any changes in significant accounting policies or estimates during the period[186]. Shareholder Information - As of June 30, 2022, the company had a total of 8,787 ordinary shareholders[82]. - The top ten shareholders include Jia Tianxia Asset Management with 11.55% and Shenzhen Southern Tongzheng Investment with 6.57% of shares[84]. - The company has a total of 17,708,110 shares held by Jia Tianxia Asset Management, which are unrestricted[85]. - The company has not experienced any changes in its total share capital or share structure during the reporting period[81].

Financial Performance - The company's operating revenue for Q1 2022 was ¥111,054,240.01, representing a decrease of 27.11% compared to the same period last year[3] - The net profit attributable to shareholders was -¥11,095,833.61, reflecting a significant decline of 985.22% year-over-year[3] - The basic and diluted earnings per share were both -¥0.07, indicating an 800% decrease compared to the previous year[3] - Total operating revenue for Q1 2022 was ¥111,054,240.01, a decrease of 27% compared to ¥152,348,701.63 in Q1 2021[18] - The net profit for Q1 2022 was a loss of ¥11,095,833.61, compared to a profit of ¥1,253,455.87 in Q1 2021, indicating a significant decline in profitability[19] - The total equity attributable to shareholders was ¥682,399,905.83, down from ¥693,495,739.44 in Q1 2021, representing a decline of about 1.6%[16] - Basic and diluted earnings per share for Q1 2022 were both -0.07 CNY, compared to 0.01 CNY in Q1 2021, indicating a significant decline in profitability[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥740,276,526.77, down 4.59% from the end of the previous year[4] - The company's total liabilities as of Q1 2022 amounted to ¥57,876,620.94, a decrease from ¥82,369,819.51 in the previous year[16] - The company's current assets totaled CNY 491,524,400.14, down from CNY 520,598,233.16, indicating a decrease of about 5.5% year-over-year[14] - The company's non-current assets totaled CNY 248,752,126.63, down from CNY 255,267,325.79, indicating a decrease of about 2.5%[14] - The total assets as of Q1 2022 were ¥740,276,526.77, down from ¥775,865,558.95 in the previous year, indicating a decrease of approximately 4.6%[16] Cash Flow - The net cash flow from operating activities was -¥9,303,103.92, with no applicable percentage change due to negative cash flow[3] - Net cash flow from operating activities for Q1 2022 was -9,303,103.92 CNY, an improvement from -48,088,009.05 CNY in Q1 2021[20] - Total cash inflow from operating activities was 94,877,325.22 CNY, down 17.1% from 114,443,087.09 CNY in the same period last year[20] - Cash outflow from operating activities decreased to 104,180,429.14 CNY, compared to 162,531,096.14 CNY in Q1 2021, reflecting better cost management[20] - Cash flow from investing activities was -327,511.10 CNY, an improvement from -767,224.21 CNY in Q1 2021, indicating reduced capital expenditures[21] - The ending cash and cash equivalents balance for Q1 2022 was 29,740,133.78 CNY, down from 39,370,748.80 CNY at the beginning of the period[21] Operational Efficiency - The company reported a 217.78% increase in other income, primarily due to an increase in government subsidies received during the period[6] - The company experienced a 41.87% decrease in cash paid for goods and services due to reduced production levels[6] - The company received 8,008,370.64 CNY in other operating cash, a substantial increase from 2,644,335.74 CNY in Q1 2021, indicating improved operational efficiency[20] - The company’s total cash outflow for employee payments was 8,205,395.31 CNY, a decrease from 9,724,452.45 CNY in the previous year, reflecting cost-cutting measures[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,374[8] - Shareholders' equity attributable to the parent company decreased by 1.60% to ¥682,399,905.83[4] Future Plans and Compliance - The company plans to acquire 48.95% equity of Chongqing Teri Battery Materials Co., Ltd. through a major asset swap and issuance of shares, raising up to CNY 150 million from no more than 35 specific investors[11] - The company is currently undergoing audits and evaluations related to the asset swap, with ongoing compliance to legal and regulatory requirements[12] - The company has received an inquiry letter from the Shanghai Stock Exchange regarding the asset swap and is actively responding to the questions raised[12] Research and Development - Research and development expenses increased to ¥573,099.72 in Q1 2022 from ¥465,273.00 in Q1 2021, reflecting a growth of about 23.3%[18]

Financial Performance - The company's operating revenue for 2021 was CNY 571,178,315.46, a decrease of 2.71% compared to CNY 587,107,835.93 in 2020[20]. - The net profit attributable to shareholders of the listed company was a loss of CNY 9,668,244.74, representing a decline of 340.34% from a profit of CNY 4,022,784.92 in 2020[20]. - The net cash flow from operating activities was a negative CNY 19,121,131.80, a decrease of 191.57% compared to CNY 20,881,911.74 in 2020[20]. - Basic earnings per share for 2021 were CNY -0.06, a decrease of 300.00% compared to CNY 0.03 in 2020[21]. - The weighted average return on net assets was -1.39% in 2021, down from 0.58% in 2020[21]. - The company reported a negative retained earnings of CNY -271,936,786.99 as of December 31, 2021, leading to a decision not to distribute profits for the year[5]. - The company achieved operating revenue of ¥571,178,315.46, a decrease of 2.71% compared to the previous year[32]. - The net profit attributable to shareholders was -¥9,668,244.74, down from a profit of ¥4,022,784.92 in the previous year[32]. - The gross profit margin decreased due to rising prices of raw materials and electricity, impacting sales[32]. - The company reported a significant increase in revenue, achieving a total of $1.5 billion for the fiscal year, representing a 20% year-over-year growth[65]. - The company reported a total revenue of 8,302,418 RMB, with a net profit margin of 5.42%[136]. Assets and Liabilities - The total assets at the end of 2021 were CNY 775,865,558.95, an increase of 2.23% from CNY 758,969,096.38 at the end of 2020[20]. - The company's net assets attributable to shareholders at the end of 2021 were CNY 693,495,739.44, a slight decrease of 0.21% from CNY 694,948,071.67 at the end of 2020[20]. - The total liabilities reached RMB 82,369,819.51, up from RMB 64,021,024.71, reflecting an increase of about 28.7%[164]. - The company's equity attributable to shareholders decreased slightly to RMB 693,495,739.44 from RMB 694,948,071.67, a decline of approximately 0.2%[164]. - The total owner's equity at the end of the period is 704,838,564.40 CNY, an increase from 701,089,164.99 CNY at the beginning of the period, reflecting a change of approximately 0.11%[194]. Cash Flow - The net cash flow from operating activities was -19,121,131.80, a decrease from 20,881,911.74 in the previous year, primarily due to increases in inventory and accounts receivable[48]. - The cash flow from financing activities was not detailed, indicating a potential area for further analysis[179]. - The total cash outflow from operating activities increased to CNY 521.26 million in 2021, compared to CNY 502.60 million in 2020[175]. - The total cash and cash equivalents at the end of the period decreased to 10,961,866.57 RMB from 55,348,021.72 RMB at the beginning of the year, reflecting a net decrease of 44,386,155.15 RMB[179]. Market and Industry Context - The automotive industry saw a production and sales volume of 26.08 million and 26.27 million vehicles in 2021, representing year-on-year growth of 3.4% and 3.8% respectively, which is crucial for the company's market[28]. - The market for lead-acid batteries is under pressure from the rise of new energy vehicles, which accounted for over 3.5 million units sold in 2021, increasing their market share to 13.4%[28]. - The average gross margin for comparable listed companies in the lead-acid battery industry was approximately 15-18%, while the company's margins were below this average due to its smaller scale[29]. - The company is facing increased competition in the lead-acid battery market due to the rise of lithium-ion batteries and changing market dynamics[54]. Research and Development - The company developed 62 new product models and optimized 17 processes during the year, focusing on quality control and risk management[27]. - Research and development expenses totaled ¥1,962,668.43, accounting for 0.34% of operating revenue[44]. - Research and development investments increased by 30%, totaling $300 million, to support new technology initiatives[65]. Corporate Governance - The company has established a robust corporate governance structure, ensuring compliance with legal and regulatory requirements[60]. - The board of directors has been actively involved in decision-making, with independent directors providing oversight to protect shareholder interests[61]. - The supervisory board has effectively monitored financial practices and compliance of the management team[61]. - The company has implemented a performance evaluation and incentive mechanism to enhance employee motivation and accountability[61]. Environmental Compliance - The company has complied with environmental standards, but increasing regulatory scrutiny could impact production if environmental investments do not keep pace with new requirements[56]. - The company has implemented a wastewater treatment system that ensures compliance with pollution discharge standards, with a total wastewater discharge of approximately 17.75 m³/d from purification processes[89]. - The company has established a monitoring system for wastewater discharge, ensuring real-time compliance with environmental regulations[88]. - The company has committed to fulfilling social responsibilities, actively protecting the rights of stakeholders, and has released a social responsibility report in April 2022[110]. Future Outlook - The company plans to sell 3.45 million batteries in 2022, aiming for a revenue of 741 million yuan (excluding tax)[55]. - The company plans to adjust its accounting policies in accordance with the new leasing standards effective from January 1, 2021, with no significant impact expected on financial reports[117]. - The company is currently undergoing a major asset restructuring, which carries various risks including approval delays and potential changes in transaction terms[56].

Financial Performance - The company's operating revenue for Q3 2021 was ¥115,694,568.84, a decrease of 28.85% compared to the same period last year[3]. - The net profit attributable to shareholders was -¥3,749,145.18, representing a decline of 193.29% year-over-year[3]. - The basic earnings per share for the current period was -¥0.02, down 181.53% compared to the previous year[3]. - The net profit attributable to shareholders for the year-to-date was -¥4,781,214.86, a decline of 422.52% compared to the same period last year[3]. - The net profit for the third quarter of 2021 was a loss of CNY 4,781,214.86, compared to a profit of CNY 1,482,443.51 in the same quarter of 2020, indicating a significant decline[21]. Assets and Liabilities - The total assets at the end of the reporting period were ¥740,961,209.11, a decrease of 2.37% from the end of the previous year[4]. - The company's total equity was CNY 690,166,856.81, slightly down from CNY 694,948,071.67, a decrease of 0.56%[18]. - The total liabilities decreased to CNY 50,794,352.30 from CNY 64,021,024.71, a decline of 20.61%[18]. - The company's total current assets as of September 30, 2021, amounted to 478,651,770.49 RMB, slightly down from 483,584,454.73 RMB at the end of 2020[16]. Cash Flow - The net cash flow from operating activities for the year-to-date was -¥42,084,066.13, indicating a significant cash outflow[3]. - Cash inflow from operating activities for the first nine months was $344,765,797.78, a decrease from $356,792,999.42 in the same period last year, representing a decline of approximately 3.3%[26]. - Net cash outflow from operating activities was -$42,084,066.13, compared to -$28,790,140.13 in the previous year, indicating a worsening of 46%[26]. - The net increase in cash and cash equivalents was -$49,057,825.53, compared to -$31,146,537.13 in the same period last year, representing a decline of approximately 57%[27]. Expenses - The company reported a decrease in gross margin due to industry chip shortages and intense competition, impacting revenue and profitability[7]. - The company is facing increased sales and management expenses, contributing to the decline in net profit[7]. - Total operating costs increased to CNY 423,455,724.94 from CNY 417,878,808.52, marking a rise of 1.38%[20]. - Research and development expenses decreased to CNY 1,459,105.95 from CNY 1,603,098.33, reflecting a reduction of 8.97%[21]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 8,277[10]. - The largest shareholder, Jiantianxia Asset Management Co., Ltd., holds 11.55% of shares, totaling 17,708,110 shares[10]. - The company is actively managing shareholder relationships, with notable agreements regarding share transfers and voting rights[11]. Asset Management - The company plans to transfer its lead-acid battery business assets and liabilities to a wholly-owned subsidiary, Chongqing Wanli Power Technology Co., Ltd.[12]. - The company has extended the deadline for asset transfer commitments to February 9, 2022, due to delays in the original timeline[13]. - Accounts receivable increased to 108,137,880.01 RMB from 91,969,127.89 RMB year-over-year[16]. - Inventory as of September 30, 2021, was 126,338,966.72 RMB, compared to 120,294,883.66 RMB at the end of 2020[16]. - The company reported a significant increase in other receivables, totaling 157,591,199.45 RMB, compared to 156,407,404.71 RMB in the previous year[16]. - Fixed assets decreased to 236,452,982.26 RMB from 255,819,913.63 RMB year-over-year[16].

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥303.43 million, representing an increase of 18.62% compared to ¥255.80 million in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2021 was approximately -¥1.03 million, an improvement from -¥2.54 million in the same period last year[21]. - The basic earnings per share for the first half of 2021 was -¥0.01, compared to -¥0.0165 in the same period last year[20]. - The weighted average return on net assets for the first half of 2021 was -0.15%, an improvement from -0.3678% in the same period last year[20]. - The net cash flow from operating activities for the first half of 2021 was approximately -¥43.08 million, compared to -¥23.16 million in the same period last year[21]. - The total operating revenue for the first half of 2021 was RMB 303,433,725.13, an increase of 18.6% compared to RMB 255,798,106.29 in the first half of 2020[94]. - The net profit for the first half of 2021 was a loss of RMB 1,032,069.68, an improvement from a loss of RMB 2,536,378.82 in the first half of 2020[95]. - The operating profit for the first half of 2021 was a loss of RMB 1,010,375.88, compared to a loss of RMB 2,958,156.21 in the first half of 2020, indicating a reduction in losses[95]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥760.57 million, a slight increase of 0.21% from ¥758.97 million at the end of the previous year[21]. - The net assets attributable to shareholders at the end of the reporting period were approximately ¥693.92 million, a decrease of 0.15% from ¥694.95 million at the end of the previous year[21]. - The company's total current assets as of June 30, 2021, amount to 493,777,687.92 RMB, an increase from 483,584,454.73 RMB at the end of 2020[87]. - The company's total liabilities reached CNY 66,657,926.01, up from CNY 64,021,024.71, indicating a growth of about 4.1%[89]. - The total equity attributable to shareholders was CNY 693,916,001.99, a decrease from CNY 694,948,071.67, representing a decline of approximately 0.15%[89]. Cash Flow - The company's cash flow from operating activities showed a net outflow of ¥43,084,474.26, worsening from a net outflow of ¥23,162,581.79 in the previous year[28]. - The company's cash inflow from operating activities for the first half of 2021 was CNY 228,971,583.81, compared to CNY 203,258,508.95 in the same period of 2020, representing an increase of approximately 12.5%[99]. - The net cash flow from operating activities was negative CNY 43,084,474.26, worsening from a negative CNY 23,162,581.79 in the first half of 2020[99]. - The total cash outflow from operating activities increased to CNY 272,056,058.07, up from CNY 226,421,090.74 in the previous year, indicating a rise of about 20.2%[99]. Expenses - Sales expenses rose by ¥5,250,000, a 44.57% increase, primarily due to sales expansion efforts[28]. - Management expenses increased by ¥1,951,467.53, a 23.86% rise, mainly due to higher employee compensation and service fees[28]. - Research and development expenses for the first half of 2021 were RMB 964,978.13, down from RMB 1,219,510.66 in the first half of 2020, showing a decrease of 20.9%[94]. Environmental Management - The company’s wastewater treatment process ensures that 80% of treated wastewater is reused in production, with the remaining discharged in compliance with environmental standards[47]. - The company has established stable raw material supply channels and long-term partnerships with key suppliers, ensuring production continuity[25]. - The company’s wastewater treatment facilities are equipped with monitoring systems to ensure compliance with national discharge standards[45]. - The company has committed to regular environmental quality announcements on its official website, providing transparency on heavy metal emissions and management[62]. Shareholder Information - The company has not proposed any profit distribution or capital reserve transfer plans for the reporting period[42]. - The company has committed to transferring existing business-related assets to the controlling shareholder, with a minimum transfer price of 680 million yuan[67]. - As of the end of the reporting period, the total number of ordinary shareholders is 8,105[78]. - The top ten shareholders hold a total of 57,000,000 shares, representing approximately 37.5% of the total shares[79]. Regulatory Compliance - The company has not faced any administrative penalties related to environmental issues during the reporting period[63]. - The company has not reported any significant litigation or arbitration matters during the reporting period[69]. - The company has not disclosed any tax incentives applicable to its operations[180]. Accounting Policies - The financial statements are prepared based on the principle of continuous operation, adhering to the requirements of enterprise accounting standards[121]. - The company has not made any significant changes to its accounting policies or estimates during the reporting period[44]. - The company recognizes financial assets or liabilities when it becomes a party to the financial instrument contract, measuring them at fair value initially[129]. Credit and Bad Debt Provisions - The company reported a bad debt provision of CNY 2,053.60 for commercial acceptance bills, with a provision rate of 5%[189]. - The provision for accounts receivable over 5 years is 100%, amounting to 18,987,340.68 RMB[197]. - The combined bad debt provision increased from 28,142,899.33 RMB to 30,153,846.22 RMB, indicating an increase of 2,011,482.89 RMB[199].

Financial Performance - Operating revenue for the period reached CNY 152,348,701.63, representing a 55.37% increase year-on-year[6] - Net profit attributable to shareholders was CNY 1,253,455.87, a significant recovery from a loss of CNY 3,012,376.44 in the same period last year[6] - Basic and diluted earnings per share were both CNY 0.01, recovering from a loss of CNY -0.0197 in the same period last year[6] - Total operating revenue for Q1 2021 was CNY 152,348,701.63, an increase of 55.3% compared to CNY 98,053,690.02 in Q1 2020[28] - Net profit for Q1 2021 was CNY 1,253,455.87, recovering from a net loss of CNY 3,012,376.44 in Q1 2020[29] - The total comprehensive income for Q1 2021 was ¥2,123,483.30, a recovery from a loss of ¥1,585,863.70 in the same period last year[33] Assets and Liabilities - Total assets at the end of the reporting period were CNY 760,498,944.18, a 0.20% increase compared to the end of the previous year[6] - The total assets as of March 31, 2021, amounted to CNY 760,498,944.18, slightly up from CNY 758,969,096.38 at the end of 2020[21] - The company's total liabilities increased to CNY 59,974,258.56 from CNY 59,514,888.47, indicating a slight rise in financial obligations[21] - Total liabilities increased to CNY 66,848,397.67 in Q1 2021 from CNY 43,986,488.71 in Q1 2020, marking a rise of 52.0%[26] - The total equity attributable to shareholders was CNY 703,212,648.29 as of March 31, 2021, compared to CNY 701,089,164.99 at the end of 2020, showing a slight increase[26] Cash Flow - The net cash flow from operating activities was negative at CNY -48,088,009.05, compared to CNY -29,705,636.01 in the previous year, indicating a decline in cash generation[6] - The company's cash flow from operating activities showed a negative net amount of CNY -48,088,009.05, worsening by CNY -18,382,373.04 compared to CNY -29,705,636.01 in the previous year[13] - The net cash flow from operating activities was negative at -¥48,088,009.05, worsening from -¥29,705,636.01 in Q1 2020, highlighting cash flow challenges[35] - The total cash outflow from operating activities was ¥172,691,937.31, resulting in a net cash flow from operating activities of -¥45,746,662.72, worsening from -¥20,283,132.82 in the previous year[37] - The net cash flow from investing activities was -¥767,224.21, which is a decline from -¥131,430.00 in the same period last year[38] Shareholder Information - The total number of shareholders at the end of the reporting period was 8,106[10] - The largest shareholder, Jiatiantian Asset Management Co., Ltd., held 11.55% of the shares, totaling 17,708,110 shares[10] Expenses - The company reported a significant increase in sales expenses, which rose by 117.44% to CNY 9,044,346.01 from CNY 4,159,373.18, primarily due to increased freight costs[13] - Total operating costs for Q1 2021 were CNY 149,963,360.43, up from CNY 101,236,259.64 in Q1 2020, representing a 48.0% increase[29] - The company incurred research and development expenses of CNY 465,273.00 in Q1 2021, a decrease from CNY 512,954.02 in Q1 2020[29] - The cash paid for taxes increased to ¥16,410,869.92 from ¥14,560,350.35, indicating a rise in tax obligations[37] Receivables and Inventory - Accounts receivable increased by 27.15% to CNY 116,943,063.58 from CNY 91,969,127.89, primarily due to an increase in credit sales[13] - The company reported a significant increase in accounts receivable, which reached CNY 147,871,432.06, compared to CNY 93,303,129.14 in the previous year, a growth of 58.5%[24] - Inventory levels rose to CNY 117,235,406.30 in Q1 2021, up from CNY 104,101,135.72 in Q1 2020, an increase of 12.0%[25] Government Support and Non-Recurring Items - The company received government subsidies amounting to CNY 201,784.95 during the reporting period[8] - The company reported a total of CNY 235,170.10 in non-recurring gains and losses[8] Future Considerations - The company has a receivable loss compensation amounting to CNY 155,567,888.90 from its major shareholder, which is to be compensated in case of any losses during the performance commitment period[15] - The company plans to strengthen communication with major shareholders to ensure compliance with the share transfer agreement and related obligations[15] - The company has not yet implemented the new leasing standards, which may impact future financial reporting[38]

Financial Performance - The company's operating revenue for 2020 was CNY 587,107,835.93, representing a 6.44% increase compared to CNY 551,611,554.73 in 2019[21]. - The net profit attributable to shareholders for 2020 was CNY 4,022,784.92, a decrease of 54.84% from CNY 8,907,082.83 in 2019[21]. - The basic earnings per share for 2020 was CNY 0.03, down 50% from CNY 0.06 in 2019[22]. - The weighted average return on equity decreased to 0.58% in 2020, down 0.72 percentage points from 1.3% in 2019[22]. - The net cash flow from operating activities for 2020 was CNY 20,881,911.74, a decrease of 16.87% from CNY 25,119,383.40 in 2019[21]. - The company experienced a net loss of CNY 2,098,720.72 after deducting non-recurring gains and losses in 2020[21]. - The total assets at the end of 2020 were CNY 758,969,096.38, reflecting a 0.65% increase from CNY 754,055,383.23 in 2019[21]. - The company reported a significant reduction in financial expenses by 97.08%, down to RMB 16,175.10 from RMB 554,200.87 in the previous year[43]. - The company reported a total comprehensive income of CNY 7,621,500 for the current period, reflecting a significant increase compared to the previous year[192]. Operational Highlights - The company completed 47 new product development and optimization projects, along with 3 process optimization projects during the reporting period[34]. - The company produced 2,853,115 units of batteries, with a sales volume of 2,831,499 units, resulting in a production increase of 17.31% year-on-year[39]. - The gross profit margin improved by 0.57 percentage points due to cost reduction measures and efficiency improvements[33]. - The company maintained a stable supply chain for raw materials, ensuring production efficiency[30]. - The company emphasized cost reduction and efficiency enhancement across all operational aspects to mitigate profit pressure[34]. Market and Industry Context - In 2020, global automotive sales were approximately 76.5 million units, with nearly 80% of countries experiencing a decline in sales due to the COVID-19 pandemic[51]. - China's automotive production and sales reached 25.225 million and 25.311 million units in 2020, representing a year-on-year decline of 2.0% and 1.9%, respectively, but the decline was less severe than the previous year[51]. - The lead-acid battery industry is in a mature stage, with increased market concentration due to weaker companies exiting the market, although competition remains primarily price-driven[52]. Financial Position and Equity - The total equity amounted to CNY 701,089,164.99 in 2020, compared to CNY 696,971,970.71 in 2019, showing an increase of 0.3%[161]. - The total owner's equity increased to CNY 694,948,071.67 in 2020 from CNY 690,925,286.75 in 2019, an increase of 0.4%[158]. - The company reported an accumulated deficit of CNY -262,268,542.25 in 2020, slightly improved from CNY -266,291,327.17 in 2019[158]. - The total equity at the end of the reporting period was CNY 696,971, with a decrease in retained earnings due to losses[192]. Cash Flow and Investment Activities - Cash and cash equivalents increased significantly to CNY 57,191,857.27 in 2020 from CNY 23,728,895.38 in 2019, marking a growth of 141.7%[160]. - The total cash inflow from investment activities improved to CNY 2,882,474.23 from a negative CNY 4,273,377.52 in 2019, marking a significant turnaround[174]. - The company reported a net increase in cash and cash equivalents of CNY 21,764,385.97 for the year, compared to CNY 22,846,005.88 in the previous year[172]. Environmental and Social Responsibility - The company has implemented a wastewater treatment process that ensures 80% of treated wastewater is reused in production, meeting the first-level discharge standards[85]. - The company actively engages in social responsibility, focusing on environmental, social, and economic development obligations[82]. - The company has established a real-time monitoring system for wastewater discharge, ensuring compliance with pollution discharge standards[83]. - The company has established a hazardous waste storage area that meets the requirements of the hazardous waste storage pollution control standards[88]. Governance and Management - The company has a diverse management team with members holding positions in other organizations, enhancing its strategic capabilities[121]. - The overall governance structure includes independent directors and a mix of experienced professionals in various fields[119]. - The company ensures compliance with information disclosure regulations, providing equal access to information for all shareholders[131]. - The company has not faced any penalties from securities regulatory agencies in the past three years[124]. Related Party Transactions - The company transferred 580,000 shares of Chongqing Teri Battery Materials Co., Ltd. to a related party for a consideration of RMB 128.09 million, with a remaining payment of RMB 6,654,275.64 owed by the related party[73]. - The company received the full amount of the share transfer payment from the related party, including penalties, by June 23, 2020[74]. - As of December 31, 2020, the actual amount of related party transactions was RMB 14,896,544.90, which did not exceed the disclosed estimated amount for the year[72].

Financial Performance - Net profit attributable to shareholders rose by 156.96% to CNY 1,482,443.51 for the first nine months of the year[6] - Operating revenue for the first nine months increased by 5.28% to CNY 418,396,107.64 compared to the same period last year[6] - Basic earnings per share increased by 155.26% to CNY 0.0097[6] - The weighted average return on equity increased by 0.1297 percentage points to 0.2143%[6] - The company reported a net cash flow from operating activities of -RMB 28,790,140.13, a significant decline from -RMB 3,209,393.30 in the previous period, mainly due to increases in accounts receivable and inventory[12] - The company’s net loss for the period was slightly reduced to -RMB 264,808,883.66 from -RMB 266,291,327.17, indicating a marginal improvement in financial performance[17] - Net profit for Q3 2020 reached ¥4,018,822.33, compared to ¥7,286,282.38 in Q3 2019, indicating a decrease of 44.5%[23] - The total comprehensive income for Q3 2020 was ¥5,502,348.26, compared to ¥8,425,620.14 in the same period last year, indicating a decline of 34.3%[26] Assets and Liabilities - Total assets increased by 1.02% to CNY 761,727,922.86 compared to the end of the previous year[6] - The total assets as of September 30, 2020, were RMB 761,727,922.86, compared to RMB 754,055,383.23 at the end of 2019[16] - The company's total liabilities increased to RMB 69,320,192.60 from RMB 63,130,096.48, reflecting changes in accounts payable and contract liabilities[17] - Total liabilities for Q3 2020 were ¥54,317,757.62, compared to ¥43,742,923.25 in Q3 2019, representing a year-over-year increase of 24.5%[20] Cash Flow - The net cash flow from operating activities for the first nine months was CNY -28,790,140.13, compared to CNY -3,209,393.30 in the previous year[6] - Cash and cash equivalents decreased significantly to RMB 17,885,917.30 from RMB 49,032,454.43, primarily due to increased receivables and inventory[15] - Total cash inflow from operating activities in Q3 2020 was ¥340,819,105.46, up from ¥304,874,623.35 in Q3 2019, reflecting a growth of 11.8%[35] - The cash and cash equivalents at the end of Q3 2020 were ¥4,965,389.82, down from ¥7,418,412.31 at the end of Q3 2019, indicating a decrease of 33.1%[35] - The company reported a net decrease in cash and cash equivalents of -¥31,146,537.13 for the first three quarters of 2020, compared to -¥4,149,621.25 in the same period of 2019[31] Shareholder Information - The total number of shareholders reached 8,410 by the end of the reporting period[9] - The largest shareholder, Jiatiantian Asset Management Co., Ltd., holds 11.55% of the shares[9] Research and Development - Research and development expenses increased by 13.22% to RMB 1,603,098.33 from RMB 1,415,968.60, indicating a commitment to enhancing product development[12] - Research and development expenses for Q3 2020 were ¥383,587.67, a decrease from ¥494,847.36 in Q3 2019, reflecting a decline of 22.5%[22] Revenue and Costs - Operating costs rose to RMB 362,269,261.45, up 4.52% from RMB 346,617,489.81, primarily due to increased sales[12] - The company's operating revenue for Q3 2020 was ¥155,064,394.81, an increase of 6.7% compared to ¥146,098,225.27 in Q3 2019[25] - Total operating costs for Q3 2020 were ¥159,927,220.94, up from ¥143,468,004.11 in Q3 2019, reflecting a year-over-year increase of 11.5%[22] - The company's operating costs for Q3 2020 were ¥135,325,838.24, an increase of 7.2% from ¥126,202,736.83 in Q3 2019[25] Inventory and Receivables - Accounts receivable increased by 36.98% to RMB 123,937,129.12 from RMB 90,476,826.65, attributed to higher credit sales[12] - Inventory increased by 18.71% to RMB 123,896,929.97 from RMB 104,365,784.75, mainly due to a rise in work-in-progress[12] - The company's inventory increased to ¥111,690,313.54 in Q3 2020 from ¥98,129,752.04 in Q3 2019, representing a growth of 13.5%[20] Other Financial Metrics - The company reported a gross profit margin of approximately 1.1% for Q3 2020, down from 3.3% in Q3 2019[22] - The total profit for Q3 2020 was ¥5,502,348.26, compared to ¥8,425,620.14 in Q3 2019, showing a decrease of 34.3%[26] - The company reported a credit impairment loss of ¥1,357,260.15 in Q3 2020, compared to a gain of ¥751,846.04 in Q3 2019[26]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥255,798,106.29, representing a 2.89% increase compared to ¥248,621,011.58 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was -¥2,536,378.82, an improvement from -¥6,709,360.56 in the previous year[21]. - The net cash flow from operating activities was -¥23,162,581.79, worsening from -¥15,951,780.69 in the same period last year[21]. - The total assets at the end of the reporting period were ¥762,649,018.09, a 1.14% increase from ¥754,055,383.23 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company decreased by 0.37% to ¥688,388,907.93 from ¥690,925,286.75 at the end of the previous year[21]. - The basic earnings per share for the first half of 2020 was -¥0.0165, an improvement from -¥0.0438 in the same period last year[22]. - The weighted average return on net assets increased by 0.62 percentage points to -0.3678% from -0.9886% in the previous year[22]. - The company's revenue for the first half of 2020 was approximately ¥255.8 million, representing a growth of 2.89% compared to the same period last year[33]. - The sales volume increased by 16.7% year-on-year, while the loss decreased by ¥4.173 million during the same period[30]. - The company reported a net loss of CNY 259,858,021.39 for the first half of 2020, slightly worsening from a loss of CNY 259,754,755.30 in the same period of 2019[90]. - The company's total revenue for the first half of 2020 was CNY 250,176,848.48, an increase from CNY 243,576,703.25 in the same period of 2019, representing a growth of approximately 2.65%[95]. - The net profit for the first half of 2020 was a loss of CNY 2,536,378.82, compared to a loss of CNY 6,709,360.56 in the first half of 2019, indicating an improvement of approximately 62.3%[94]. Cash Flow and Liquidity - The net cash flow from operating activities showed a significant outflow, increasing to approximately -¥23.16 million, attributed to market expansion efforts[34]. - The company's cash and cash equivalents increased by 157.88% to approximately ¥24.64 million compared to the previous year[36]. - The cash flow from operating activities for the first half of 2020 was a net outflow of CNY 23,162,581.79, compared to a net outflow of CNY 15,951,780.69 in the same period of 2019[97]. - The cash and cash equivalents at the end of the period were 11,794,519.53 RMB, a decrease from 21,923,418.95 RMB at the beginning of the period[101]. - The total cash and cash equivalents decreased by 10,128,899.42 RMB during the first half of 2020, compared to a decrease of 8,730,377.94 RMB in the same period of 2019[101]. - The company reported cash and cash equivalents of ¥24,640,990.20, down from ¥49,032,454.43[85]. Research and Development - The company's R&D expenses increased by 32.39% to approximately ¥1.22 million, reflecting a commitment to product development[33]. - The company's research and development expenses increased to CNY 1,219,510.66 from CNY 921,121.24, reflecting a growth of about 32.5%[92]. - New products such as start-stop batteries and parking air conditioning batteries have achieved mass production, enhancing product competitiveness[30]. Environmental Compliance - The company has a wastewater treatment process that includes oil separation, pH adjustment, flocculation, sedimentation, and filtration, ensuring that 80% of treated wastewater is reused in production[54]. - The company operates 14 sets of exhaust gas treatment facilities to manage emissions from various production processes, employing techniques such as bag filters and activated carbon adsorption[55]. - The company’s wastewater discharge meets the standards set by the "Battery Industry Pollutant Discharge Standards" (GB 30484-2013) and the "Comprehensive Wastewater Discharge Standards" (GB8978-1996)[53]. - The company has established a hazardous waste storage area that meets the requirements of GB 18597-2001, ensuring proper management and disposal of hazardous materials[58]. - The company has conducted environmental risk assessments and developed emergency response plans to mitigate potential environmental risks associated with its operations[69]. - The company has successfully passed environmental impact assessments and has received approval for the construction project, ensuring compliance with national environmental standards[68]. Shareholder Information - Total number of ordinary shareholders at the end of the reporting period was 6,423[79]. - The largest shareholder, Jiatiantian Asset Management Co., Ltd., held 17,708,110 shares, accounting for 11.5% of total shares[79]. - The second largest shareholder, Shenzhen Southern Tongzheng Investment Co., Ltd., held 10,072,158 shares, representing 6.57% of total shares[79]. Accounting Policies and Financial Reporting - The company has adjusted its accounting policies in accordance with new revenue recognition standards effective January 1, 2020, resulting in a decrease of 14,648,184.71 yuan in contract liabilities[72]. - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations for the next 12 months[118]. - The company adheres to the accounting standards for enterprises, ensuring that its financial statements accurately reflect its financial position and operating results[120]. - The company has established specific accounting policies and estimates for bad debt provisions, depreciation of fixed assets, and revenue recognition[119]. Risks and Challenges - The company is closely tied to the automotive industry, and any significant downturn due to recurring domestic pandemic issues could adversely affect its operations[40]. - The company faces risks from environmental policy changes, which could impact its lead-acid business due to stricter regulations on pollution emissions[40]. - Lead and lead alloy prices constitute approximately 70% of the production costs for lead-acid batteries, making the company vulnerable to fluctuations in lead prices[40]. - The company has established a pricing mechanism linked to lead prices to mitigate the impact of price volatility on its operating performance[40]. Other Financial Information - The total liabilities increased to CNY 74,703,817.75 from CNY 43,742,923.25, marking a significant rise of approximately 70.8%[90]. - The company's total equity decreased slightly to CNY 696,868,704.62 from CNY 696,971,970.71, indicating a marginal decline[90]. - The total owner's equity at the end of the reporting period is CNY 803,929,213.92, reflecting a decrease from CNY 803,439,326.01 in the previous year[112].

Financial Performance - Operating revenue fell by 20.09% to CNY 98,053,690.02 year-on-year[6] - Net profit attributable to shareholders was CNY -3,012,376.44, a significant decline from CNY -1,495,228.30 in the same period last year[6] - The weighted average return on net assets was -0.44%, down from -0.22% year-on-year[6] - Basic and diluted earnings per share were both CNY -0.0197, compared to CNY -0.0098 in the previous year[6] - Total operating revenue for Q1 2020 was ¥98,053,690.02, a decrease of 20.2% compared to ¥122,712,536.58 in Q1 2019[25] - Net loss for Q1 2020 was ¥3,012,376.44, compared to a net loss of ¥1,495,228.30 in Q1 2019, indicating a worsening of 101.5%[25] - The total comprehensive loss for the period was ¥3,012,376.44, compared to a loss of ¥1,495,228.30 in the previous year[26] Cash Flow - The net cash flow from operating activities was CNY -29,705,636.01, compared to CNY -17,808,681.60 in the previous year[6] - Cash flow from operating activities showed a net outflow of ¥29,705,636.01, compared to a net outflow of ¥17,808,681.60 in Q1 2019[29] - The cash outflow from operating activities totaled CNY 84,363,315.61, down from CNY 107,802,934.44 in the same period last year, resulting in a net cash flow from operating activities of -CNY 20,283,132.82[31] - The company reported a significant decline in cash received from sales of goods and services, totaling CNY 63,717,381.81, down 34% from CNY 96,982,779.41 in the previous year[31] - Payments to employees decreased to CNY 7,053,522.29 from CNY 9,654,753.04, reflecting a reduction of approximately 27%[31] Assets and Liabilities - Total assets decreased by 2.26% to CNY 737,025,104.59 compared to the end of the previous year[6] - Cash and cash equivalents decreased by 60.85% to ¥19,197,720.08 from ¥49,032,454.43 due to an increase in acceptance bills and materials in transit[12] - Total liabilities increased to ¥48,337,838.23 in Q1 2020 from ¥43,742,923.25 in Q1 2019, marking an increase of 10.5%[23] - Current liabilities decreased to ¥44,362,361.99 from ¥58,225,147.60, indicating improved liquidity management[18] Shareholder Information - The total number of shareholders at the end of the reporting period was 6,782[10] - The largest shareholder, Jiatiansha Asset Management Co., Ltd., held 11.55% of the shares[10] Government Support and Non-Recurring Items - The company received government subsidies amounting to CNY 164,867.50, which are included in non-operating income[9] - The total non-recurring gains and losses amounted to CNY 170,193.18 for the reporting period[9] Operational Efficiency - Operating costs decreased by 17.64% to ¥88,813,022.33 from ¥107,839,827.98, reflecting the decline in operating revenue[12] - Management expenses decreased by 32.74% to ¥3,227,700.65 from ¥4,798,691.66, primarily due to the impact of the pandemic[12] - The total operating costs were ¥94,948,495.59, down from ¥113,032,153.39 in Q1 2019, showing improved cost management[27] Receivables and Payables - Accounts receivable financing increased by 64.69% to ¥45,244,419.59 from ¥27,472,310.85, primarily due to an increase in bank acceptance[12] - The company has a receivable loss compensation amount of ¥155,567,888.90 from Shenzhen Nanfang Tongzheng Company, related to a share transfer agreement[13] - The company is owed a share transfer payment of ¥6,654,275.64 from Chongqing Tongzheng Industrial Co., Ltd., secured by a pledge of shares[14] Research and Development - Research and development expenses increased to ¥512,954.02, up from ¥418,365.02 in the previous year, indicating a focus on innovation[28]