证券代码：601222 证券简称：林洋能源 公告编号：临 2023-29 江苏林洋能源股份有限公司 关于召开 2022 年度业绩说明会的公告 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法律责任。 重要内容提示： 江苏林洋能源股份有限公司（以下简称"公司"）已于 2023 年 4 月 26 日发 布公司 2022 年年度报告，为便于广大投资者更全面深入地了解公司 2022 年度经 营成果、财务状况，公司计划于 2023 年 5 月 26 日下午 15:00-16:00 举行 2022 年 度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2022 年度的经营成果 及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范围内 就投资者普遍关注的问题进行回答。 1 会议召开时间：2023 年 5 月 26 日（星期五）下午 15:00-16:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow ...

Smart Grid and Metering - The demand for smart IoT meters from the State Grid increased significantly, with the first batch of procurement in 2022 reaching approximately 800,000 units, up from 19,522 units in 2020, indicating a growth rate of over 4000%[9] - The smart meter market is anticipated to grow significantly due to the increasing demand for digital grid upgrades and the replacement of traditional meters[9] - The company’s smart grid segment includes a wide range of products such as smart meters and power operation services, with sales extending to over 30 countries and regions[22] - The company won contracts worth approximately 856 million RMB in the State Grid's 2022 electric meter procurement and 314 million RMB in the Southern Grid's metering product framework project, marking a 25.74% increase from 2021[64] - The company has developed a full range of smart electric meters and communication terminals, achieving multiple international certifications and ensuring compatibility with major global systems[64] Energy Storage and Hydrogen - The company secured a total bid amount of approximately 274 million CNY for a 90MW/180MWh energy storage project, which has been delivered and connected to the grid[20] - The company has accelerated its energy storage project layout across Jiangsu, Anhui, Hubei, and Inner Mongolia, with a total reserve of over 5GWh of energy storage project resources[20] - The company signed a strategic cooperation agreement with ProLogis New Energy (Shanghai) Co., Ltd. to develop a total of 1GWh of grid-side shared energy storage projects over the next three years[20] - The company’s joint venture in hydrogen energy has launched the fully automatic SAK1600 alkaline water electrolysis hydrogen production equipment, capable of producing up to 500Nm3/h of hydrogen[20] - The company’s strategic layout in the hydrogen energy sector includes investments in core hydrogen production equipment and aims to provide integrated solutions for hydrogen production, storage, and transportation[20] Financial Performance - The basic earnings per share for 2022 was CNY 0.48, a decrease of 5.88% compared to CNY 0.51 in 2021[38] - The diluted earnings per share for 2022 was also CNY 0.48, reflecting the same 5.88% decline from the previous year[38] - The net profit attributable to shareholders for Q4 2022 was CNY 122,146,967.21, down from CNY 324,231,751.54 in Q3 2022[40] - The total operating income for Q4 2022 reached CNY 1,341,487,582.93, showing a slight increase compared to CNY 1,281,633,372.83 in Q3 2022[40] - The company achieved a net profit attributable to shareholders of 855,997,415.73 CNY for the year 2022, with the parent company reporting a net profit of 1,009,354,129.01 CNY[42] Research and Development - The company is focused on developing high-efficiency N-type monocrystalline bifacial solar cells, which have low temperature coefficients and high photoelectric conversion efficiency[50] - The company has established a strong R&D framework, resulting in 239 authorized patents, including 86 invention patents[79] - The company is actively advancing smart power distribution solutions centered around new intelligent terminals, contributing to its market expansion strategy[143] - The company has made significant investments in R&D to keep up with the rapid technological advancements in the industry, focusing on new energy technologies and digital strategies[200] - The company aims to strengthen its technical competitiveness through collaborations with universities and research institutions, promoting new technologies widely[200] Market Trends and Opportunities - The global hydrogen production capacity from electrolysis is projected to need to reach 130-160 GW annually by 2050 to support a carbon-free economy[10] - The Chinese government has issued over 30 provincial and municipal plans to accelerate the development of the hydrogen energy industry, indicating strong governmental support[10] - The investment in the power grid during the "14th Five-Year Plan" period is expected to exceed 3 trillion yuan, which will stimulate the development of the entire industrial chain[9] - The focus on renewable energy hydrogen production is emphasized in national strategies, highlighting its role in achieving carbon neutrality[10] - The national policy environment is increasingly supportive of solar energy development, emphasizing the transition from rapid growth to high-quality development in the sector[99] Operational Efficiency and Strategy - The company is actively pursuing strategic opportunities in the hydrogen energy sector, aiming to establish a leading position in the manufacturing of hydrogen production equipment within five years[192] - The company plans to enhance its operational efficiency and increase R&D and market investments across its three main business segments: smart grid, energy storage, and new energy[193] - The company is committed to expanding its overseas market share and leveraging its successful domestic business experiences for international growth[193] - The company has implemented strict risk management measures for overseas projects to mitigate potential risks associated with geopolitical conflicts[64] - The company is focused on the compatibility and upgrade potential of TOPCon production lines, which can reduce equipment investment costs while improving efficiency[188] Challenges and Risks - The company has detailed the risks it faces in the annual report, urging investors to pay attention to these risks[43] - The company recognizes the need for low-cost energy storage systems to effectively address the challenges of wind and solar energy consumption, as the current 10% energy storage configuration is insufficient[200] - The competition in the photovoltaic industry has intensified due to the entry of traditional energy companies and cross-industry players, significantly impacting the competitive landscape of the renewable energy sector[199] - The company faces increased market competition risks if it fails to adapt to market changes in product technology upgrades and sales strategies[199] - The company has received multiple awards for its technological innovations, including the China Energy Research Society's Technology Innovation Award and the Southern Power Grid Digital Grid Group's Scientific and Technological Progress Award[143]

Financial Performance - The company's operating revenue for Q1 2023 was RMB 1,064,878,236.67, representing an increase of 8.22% compared to the same period last year[4]. - The net profit attributable to shareholders of the listed company was RMB 196,670,606.00, reflecting a growth of 10.03% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 182,179,336.85, which is an increase of 14.82% compared to the previous year[4]. - The basic earnings per share for the period was RMB 0.10, up by 11.11% year-on-year[4]. - The net profit for the first quarter of 2023 was approximately CNY 203.03 million, an increase of 12.2% compared to CNY 180.88 million in the same period last year[27]. - The total profit amounted to CNY 243.93 million, up from CNY 226.44 million, reflecting a growth of 7.4% year-over-year[27]. Cash Flow and Investments - The net cash flow from operating activities was negative at RMB -75,217,509.48, indicating a non-applicable change[4]. - The company reported a net cash inflow from investment activities of CNY 1.24 billion, significantly higher than CNY 652.22 million in the previous year[31]. - Cash inflow from investment activities in Q1 2023 was ¥2,887,609,321.90, compared to ¥2,505,273,282.10 in Q1 2022, marking an increase of 15.2%[51]. - Cash and cash equivalents at the end of the period reached CNY 4.47 billion, up from CNY 3.25 billion, marking an increase of 37.2%[31]. - The cash outflow from financing activities was CNY 651.62 million, compared to CNY 299.65 million in the previous year, indicating increased financing activities[31]. Assets and Liabilities - The total assets of Jiangsu Linyang Energy Co., Ltd. amounted to ¥20,764,272,006.32, a decrease from ¥21,300,547,087.81 in the previous period[22]. - Total current liabilities decreased to ¥3,724,787,057.95 from ¥4,436,535,859.71[22]. - Total liabilities decreased to ¥5,737,771,861.61 in Q1 2023 from ¥6,432,924,230.41 in Q1 2022, a reduction of approximately 10.8%[44]. - The company’s total liabilities and shareholders' equity are not explicitly stated in the provided documents[22]. Shareholder Information - As of the end of the reporting period, the company had repurchased 18,949,000 shares, accounting for 0.92% of the total share capital[9]. - The total number of ordinary shareholders at the end of the reporting period was 96,126[17]. - The largest shareholder, Qidong Huahong Electronics Co., Ltd., held 34.72% of the shares[17]. - The company completed a share repurchase plan, acquiring 18,949,000 shares at an average price of CNY 8.34 per share, totaling CNY 157.99 million[39]. Operational Costs and Expenses - Total operating costs for Q1 2023 were ¥888,460,834.73, up from ¥841,521,003.41 in Q1 2022, reflecting a rise of 5.6%[46]. - Research and development expenses for Q1 2023 amounted to ¥45,564,709.29, up from ¥41,725,105.80 in Q1 2022, representing an increase of 9.0%[46]. - The company reported a decrease in financial expenses to ¥32,832,855.26 in Q1 2023 from ¥42,412,070.21 in Q1 2022, a reduction of 22.7%[46]. Asset Composition - Non-current assets totaled ¥8,042,437,045.05, an increase from ¥7,762,806,256.58[22]. - The company’s other non-current assets increased to ¥501,669,916.18 from ¥337,426,432.26[22]. - The company reported a decrease in accounts payable from ¥1,408,596,937.43 to ¥1,148,236,075.22[22]. - The company’s deferred tax assets decreased from ¥78,461,992.04 to ¥71,082,985.90[22]. - The company’s inventory increased to CNY 1.76 billion, up from CNY 1.51 billion, reflecting a growth of 16.7% year-over-year[41].

Financial Performance - The company's operating revenue for Q3 2022 was ¥1,281,633,372.83, a decrease of 9.41% compared to the same period last year[5]. - Net profit attributable to shareholders for Q3 2022 was ¥324,231,751.54, an increase of 7.62% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥313,475,738.06, up 3.44% from the previous year[5]. - The basic earnings per share for Q3 2022 was ¥0.16, down 5.88% compared to the same period last year[5]. - Total operating revenue for the first three quarters of 2022 was CNY 3,602,450,506.75, a decrease of 12.65% compared to CNY 4,124,071,686.87 in the same period of 2021[24]. - Net profit for the first three quarters of 2022 was CNY 743,278,001.84, down 12.21% from CNY 846,743,589.22 in the previous year[26]. - Basic earnings per share decreased to CNY 0.36 from CNY 0.49, representing a decline of 26.53%[28]. - The company reported a total comprehensive income of CNY 738,658,393.91, down from CNY 843,174,380.36, reflecting a decrease of 12.43%[28]. Assets and Liabilities - The total assets at the end of the reporting period were ¥20,615,238,738.99, an increase of 0.52% from the end of the previous year[7]. - The company's total assets amounted to CNY 20.62 billion, a slight increase from CNY 20.51 billion at the end of 2021[22]. - The company's current assets increased to CNY 11.32 billion from CNY 10.35 billion year-over-year, representing a growth of approximately 9.4%[18]. - Total liabilities decreased to CNY 5.70 billion from CNY 6.03 billion, a reduction of approximately 5.4%[22]. - The company reported a decrease in short-term borrowings to CNY 588.06 million from CNY 824.80 million, a decline of approximately 28.7%[20]. - Long-term borrowings decreased significantly to CNY 1.42 billion from CNY 2.10 billion, a reduction of about 32.3%[22]. Shareholder Equity - The equity attributable to shareholders at the end of the reporting period was ¥14,866,380,054.38, up 2.95% year-on-year[7]. - The company's equity attributable to shareholders rose to CNY 14.87 billion, compared to CNY 14.44 billion, reflecting an increase of about 3%[22]. - The total number of ordinary shareholders at the end of the reporting period was 114,465[11]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥468,714,787.50, an increase of 20.73% compared to the same period last year[5]. - Cash flow from operating activities generated CNY 468,714,787.50, an increase of 20.67% compared to CNY 388,243,546.84 in the same period last year[30]. - The cash inflow from financing activities totaled CNY 1.42 billion, a decrease from CNY 1.57 billion in the previous year[32]. - The net cash flow from financing activities was negative at CNY -922.06 million, worsening from CNY -610.45 million year-over-year[32]. - The net increase in cash and cash equivalents was CNY 221.42 million, down from CNY 347.43 million in the previous year[32]. - The ending balance of cash and cash equivalents was CNY 2.70 billion, slightly up from CNY 2.67 billion year-over-year[32]. Expenses - Total operating costs decreased to CNY 2,754,173,904.22 from CNY 3,238,200,613.06, reflecting a reduction of 14.92%[24]. - Research and development expenses increased to CNY 103,741,267.39 from CNY 100,525,640.72, a rise of 2.19%[24]. - Financial expenses significantly decreased to CNY 12,741,708.74 from CNY 243,894,361.25, a reduction of 94.77%[24]. Other Financial Metrics - The weighted average return on equity decreased by 2.19 percentage points to 4.96%[7]. - Non-recurring gains and losses for Q3 2022 totaled ¥10,756,013.48[10]. - The company experienced a credit impairment loss of CNY -3,985,523.43, compared to a gain of CNY 16,311,290.88 in the previous year[26]. - The cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets was approximately CNY 497.89 million, compared to CNY 249.55 million in the previous period, indicating a significant increase[32]. - The total cash outflow from investment activities was CNY 7.03 billion, down from CNY 7.88 billion year-over-year[32]. - The net cash flow generated from investment activities was CNY 593.04 million, slightly up from CNY 572.58 million in the same period last year[32]. - The impact of exchange rate changes on cash and cash equivalents was positive at CNY 81.73 million, compared to a negative impact of CNY -2.94 million in the previous period[32].

Financial Performance - Jiangsu Linyang Energy reported a half-year revenue of 1.2 billion RMB, representing a year-on-year increase of 15%[1] - The company's net profit for the first half of 2022 reached 200 million RMB, up 10% compared to the same period last year[1] - The company's operating revenue for the first half of 2022 was ¥2,320,817,133.92, a decrease of 14.34% compared to the same period last year[22] - The net profit attributable to shareholders of the listed company was ¥409,618,696.98, down 24.75% year-on-year[22] - The net profit after deducting non-recurring gains and losses was ¥400,737,625.69, a decrease of 23.13% compared to the previous year[22] - Basic earnings per share decreased by 37.50% to ¥0.20[22] - The company achieved operating revenue of 2.321 billion yuan and a net profit attributable to shareholders of 410 million yuan, representing a year-on-year decline of 24.75%[46] - The company's revenue for the reporting period was approximately 2.32 billion RMB, a decrease of 14.34% compared to the same period last year[54] - The company's operating costs decreased by 15.11% to approximately 1.45 billion RMB[54] Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2023[1] - The company continues to focus on the development of smart energy solutions and expanding its market presence[22] - The company is actively exploring carbon asset management and trading models in response to the "dual carbon" goals[29] - The company is actively expanding its international market presence, addressing risks from geopolitical conflicts and supply chain disruptions, and aims to increase the sales proportion of international business and new products[73] - The company plans to achieve revenue exceeding 5.2 billion RMB for the year, adjusting its operational plans due to project delays[54] Research and Development - Linyang Energy is investing 100 million RMB in R&D for new energy technologies, aiming to launch two new products by the end of 2022[1] - The company has obtained 21 new patents during the reporting period, including 8 invention patents, bringing the total to 250 patents, of which 79 are invention patents[42] - The company has increased its R&D investment to enhance technological competitiveness and is focusing on the development of low-cost, long-duration, and high-lifetime new energy storage technologies[72] Risk Management - The company has identified potential risks in supply chain disruptions and market volatility, advising investors to remain cautious[1] - The company faces industry policy risks, with future photovoltaic power generation projects and new storage models expected to accelerate development[68] - Market competition risks are intensifying, with state-owned capital becoming the main force in new energy power station investments[69] Environmental and Social Responsibility - The company aims to align its operations with national carbon peak and carbon neutrality goals, actively promoting renewable energy development[86] - The company emphasizes the integration of social responsibility with business development, striving to create a resource-saving and environmentally friendly enterprise[85] - The company invested in photovoltaic assistance projects, increasing local residents' income by 3,000 CNY annually for 2,333 households in the 70MW photovoltaic power station in Shandong Guan County[89] Financial Position and Assets - The total assets at the end of the reporting period were ¥19,738,917,259.23, a decrease of 3.76% from the end of the previous year[22] - The net assets attributable to shareholders of the listed company increased by 0.59% to ¥14,525,987,124.01[22] - The company's cash and cash equivalents at the end of the reporting period amount to ¥2,958,896,153.92, an increase from ¥2,861,369,318.38 at the beginning of the period[126] - Total current assets increased by 70.46% to CNY 40,231,192.17, primarily due to an increase in deductible input tax[57] Corporate Governance - The board of directors has approved a profit distribution plan, with no capital reserve transfer to share capital proposed for this period[1] - The company has no non-operating fund occupation by controlling shareholders or related parties[1] - The company did not distribute dividends or increase capital reserves in the first half of 2022, with no shares or cash dividends allocated per 10 shares[81] Operational Efficiency - The company has developed a digital operation and maintenance platform for photovoltaic power stations, enhancing operational efficiency and service quality[29] - The company has established high-level research platforms, including a national postdoctoral research station and a national-level electric energy meter testing laboratory, to enhance its R&D capabilities[42] Joint Ventures and Collaborations - The company has established a joint venture for hydrogen energy business, focusing on renewable energy hydrogen production and green hydrogen applications[32] - The company is collaborating with Huawei Digital Energy Technology Co., Ltd. to develop a string-type energy storage system, enhancing battery utilization efficiency and lifespan[42] - The company has established a joint venture with Hubei Yiwei Power Co., Ltd. to focus on energy storage solutions, particularly lithium iron phosphate large-capacity energy storage systems[45] Awards and Recognition - The company has been recognized with multiple awards, including being named a national-level key high-tech enterprise and a top 100 private enterprise in China[40] - The company has a strong brand presence, with its "KD" trademark recognized as a famous trademark in Jiangsu Province and "Linyang" trademark acknowledged as a well-known brand in China[39]

Financial Performance - The company achieved a net profit attributable to shareholders of 930,473,383.00 CNY for the year 2021, with a parent company net profit of 323,033,344.83 CNY[5]. - The company's operating revenue for 2021 was CNY 5,296,565,111.42, a decrease of 8.66% compared to CNY 5,799,015,442.74 in 2020[25]. - Net profit attributable to shareholders for 2021 was CNY 930,473,383.00, down 6.69% from CNY 997,178,080.50 in 2020[25]. - The net cash flow from operating activities was CNY 1,055,315,100.92, representing a decline of 13.68% compared to CNY 1,222,536,250.53 in 2020[25]. - The total assets at the end of 2021 were CNY 20,509,135,495.86, an increase of 3.53% from CNY 19,809,328,084.39 at the end of 2020[25]. - The net assets attributable to shareholders increased by 31.69% to CNY 14,440,127,137.71 at the end of 2021, primarily due to the increase in capital from convertible bonds[25]. - Basic earnings per share for 2021 were CNY 0.51, a decrease of 10.53% from CNY 0.57 in 2020[25]. - The weighted average return on net assets was 7.73% in 2021, down 1.49 percentage points from 9.22% in 2020[25]. - The company achieved a total operating revenue of RMB 5.297 billion in 2021, with a net profit attributable to shareholders of RMB 930 million, representing a year-on-year increase of 31.69% in net assets to RMB 14.44 billion[33]. Profit Distribution - The proposed profit distribution plan includes a cash dividend of 2.20 CNY per 10 shares (tax included) for all shareholders, based on the total share capital after deducting shares held in the repurchase account[5]. - The total amount of cash dividends for the year, including the repurchase amount treated as cash dividends, is approximately 517.76 million yuan, with a total dividend ratio of 55.64%[161]. - The cash dividend distribution plan for 2021 proposes a cash dividend of 2.20 yuan per 10 shares, resulting in a total cash dividend of approximately 452.61 million yuan, with a cash dividend ratio of 48.64%[161]. Share Repurchase - The company repurchased shares amounting to 30,003.35 million CNY from January 8, 2020, to January 7, 2021, with 6,514.03 million CNY considered as cash dividends during the reporting period[6]. - The company repurchased a total of 21,956,999 shares at a total cost of 100.48 million yuan, which will be used for the employee stock ownership plan[158]. - The average repurchase price was 4.58 yuan per share, with a maximum price of 5.56 yuan and a minimum price of 4.24 yuan[164]. Risk Management - The company has provided a detailed description of the risks it faces in the annual report, urging investors to pay attention to these risks[9]. - The company emphasizes the importance of risk awareness among investors regarding forward-looking statements in the report[7]. - The company has identified risks associated with overseas market expansion, including geopolitical tensions and supply chain disruptions, and is implementing strategies to mitigate these risks[120]. - The company is actively managing raw material supply chain risks by adjusting procurement strategies and maintaining strategic stockpiles of key components[121]. - The company is focusing on the development of new energy systems in line with national policies, which may involve risks related to changes in industry regulations[113]. Strategic Initiatives - The company plans to continue expanding its market presence and invest in new technologies and products[20]. - The company is focusing on the development of smart energy solutions and microgrid technologies[20]. - The company aims to enhance its operational efficiency through automation and integrated energy management systems[20]. - The company is actively expanding its energy storage business, with various reserve projects exceeding 3GWh, focusing on integrated energy management solutions[38]. - The company has established multiple strategic partnerships, including a collaboration with Huaneng New Energy Co., Ltd. to develop quality renewable energy projects in Hebei, targeting around 2GW of project cooperation in Hubei, Anhui, and Henan during the 14th Five-Year Plan[37]. Research and Development - Research and development expenses totaled CNY 138.78 million, accounting for 2.62% of operating revenue[72]. - The company has obtained 35 new patents during the reporting period, including 15 invention patents, bringing the total to 239 authorized patents, with 70 being invention patents[55]. - The company has established a joint venture for hydrogen energy business, focusing on renewable hydrogen production and green hydrogen applications, leveraging both parties' strengths in technology and market[52]. Environmental and Social Responsibility - The company emphasizes environmental protection and sustainable development, integrating social responsibility into its business strategy[172]. - The company has implemented various energy-saving technologies, including LED lighting and distributed photovoltaic generation, to enhance energy efficiency for clients[175]. - The company has invested RMB 24.52 million in local economic development and income improvement initiatives during the reporting period[177]. - The company supports local construction with RMB 864,000 annually for 480 households in the Tian Gang Lake Township photovoltaic project[177]. Corporate Governance - The company’s board of directors and supervisory board members have confirmed the authenticity, accuracy, and completeness of the annual report[3]. - The company has implemented an incentive mechanism for senior management's annual remuneration, consisting of a basic annual salary and performance-based pay[143]. - The company has established performance evaluation standards and incentive mechanisms for directors, supervisors, and senior management, ensuring transparency and compliance in personnel appointments[127]. - The company has successfully convened annual and extraordinary shareholder meetings, with all resolutions passed, including the approval of the 2020 annual report and an investment cooperation agreement with the Wuhua County People's Government[130].

Financial Performance - The company's operating revenue for Q1 2022 was ¥984,019,327.34, representing a year-on-year increase of 2.93%[6] - The net profit attributable to shareholders was ¥178,736,513.93, reflecting a growth of 3.68% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥158,658,523.19, showing a slight decrease of 0.23%[6] - The basic earnings per share (EPS) was ¥0.09, down by 12.93% compared to the previous year[6] - Total operating revenue for Q1 2022 was CNY 984,019,327.34, an increase of 2.2% compared to CNY 955,972,718.76 in Q1 2021[25] - Net profit for Q1 2022 reached CNY 180,878,759.07, a rise of 4.9% from CNY 172,817,392.52 in Q1 2021[27] - The company reported a total profit of CNY 226,435,357.04 for Q1 2022, up 10.6% from CNY 204,787,233.05 in Q1 2021[25] Cash Flow - The net cash flow from operating activities was -¥29,970,584.89, a significant decline of 84.91% year-on-year[6] - In Q1 2022, Jiangsu Linyang Energy reported cash inflows from operating activities of CNY 1,126,828,306.52, an increase of 42.4% compared to CNY 791,214,484.58 in Q1 2021[29] - The net cash flow from operating activities was -CNY 29,970,584.89, an improvement from -CNY 198,675,551.33 in the same period last year[29] - Cash inflows from investment activities totaled CNY 2,505,273,282.10, a decrease of 13.3% from CNY 2,888,343,295.46 in Q1 2021[31] - The net cash flow from investment activities was CNY 652,217,969.80, significantly up from CNY 219,002,763.37 in Q1 2021[31] - Cash inflows from financing activities amounted to CNY 457,658,673.66, down from CNY 750,386,453.96 in the previous year[31] - The net cash flow from financing activities improved to CNY 158,005,075.79 from -CNY 196,067,818.09 in Q1 2021[31] - The ending cash and cash equivalents balance was CNY 3,254,144,333.74, up from CNY 2,150,702,862.57 at the end of Q1 2021[31] - The company received CNY 33,822,772.95 in tax refunds, an increase of 81.2% compared to CNY 18,616,264.44 in Q1 2021[29] Assets and Liabilities - The total assets at the end of the reporting period were ¥20,331,069,594.70, a decrease of 0.87% from the end of the previous year[8] - The total assets of the company as of March 31, 2022, were RMB 20,331,069,594.70, down from RMB 20,509,135,495.86 at the end of 2021, reflecting a decrease of 0.87%[21] - The company's total liabilities decreased to RMB 4,990,550,496.78 from RMB 5,466,702,664.26, a reduction of 8.7%[21] - The total liabilities decreased to CNY 5,553,677,724.21 in Q1 2022 from CNY 6,032,640,741.98 in Q1 2021, a decline of 7.9%[25] Shareholder Information - The equity attributable to shareholders increased to ¥14,739,542,009.18, marking a growth of 2.07% from the previous year[8] - The number of ordinary shareholders at the end of the reporting period was 105,085[14] - The total equity attributable to shareholders of the parent company increased to CNY 14,739,542,009.18 in Q1 2022 from CNY 14,440,127,137.71 in Q1 2021, an increase of 2.1%[25] Investments and Expenses - The company's R&D expenses increased to CNY 41,725,105.80 in Q1 2022, compared to CNY 37,932,589.82 in Q1 2021, reflecting a growth of 7.4%[25] - The financial expenses decreased significantly to CNY 42,412,070.21 in Q1 2022 from CNY 78,563,210.72 in Q1 2021, a reduction of 46.0%[25] - The long-term equity investments increased to RMB 310,330,195.09, up from RMB 268,838,038.82, indicating a growth of 15.4%[21] Inventory and Receivables - Accounts receivable increased to RMB 4,085,558,942.78, up by 2.7% from RMB 3,978,702,858.36 year-over-year[19] - The company reported a decrease in inventory to RMB 538,637,279.25, down from RMB 588,894,625.01, reflecting a decline of 8.5%[19]

Financial Performance - The company's operating revenue for Q3 2021 was ¥1,414,746,202.74, representing a decrease of 3.54% compared to the same period last year[6]. - The net profit attributable to shareholders was ¥301,270,884.16, down 21.89% year-over-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥303,041,546.27, a decrease of 17.54% compared to the previous year[6]. - The basic earnings per share for the quarter was ¥0.17, reflecting a decline of 22.73% year-over-year[8]. - The weighted average return on equity was 2.40%, a decrease of 1.14 percentage points compared to the same period last year[8]. - Total operating revenue for the first three quarters of 2021 was CNY 4,124,071,686.87, a decrease of 6.67% compared to CNY 4,418,008,766.05 in the same period of 2020[27]. - Net profit for the first three quarters of 2021 was CNY 846,743,589.22, a decline of 9.67% compared to CNY 937,604,330.17 in the same period of 2020[29]. - Basic earnings per share for the first three quarters of 2021 was CNY 0.49, down from CNY 0.54 in the same period of 2020[31]. - The company reported a total profit of CNY 976,085,385.60 for the first three quarters of 2021, down 7.43% from CNY 1,054,611,999.47 in the same period of 2020[29]. Cash Flow and Investments - The net cash flow from operating activities for the year-to-date was ¥388,243,546.84, down 43.29% compared to the same period last year[6]. - Cash flow from operating activities for the first three quarters of 2021 was CNY 388,243,546.84, a decrease of 43.36% compared to CNY 684,553,772.22 in the same period of 2020[33]. - Cash inflow from investment activities increased significantly to CNY 8,457,136,570.32, up from CNY 5,464,237,645.52 year-on-year[33]. - The net cash flow from investment activities was 572,578,518.32 CNY, a significant improvement from the negative 748,596,119.49 CNY in the same period last year[35]. - The company invested 7,635,005,383.37 CNY in cash for investments, compared to 5,992,507,754.23 CNY in the previous year, indicating a 27.4% increase[35]. - The company reported a net cash outflow from financing activities of 610,454,033.49 CNY, contrasting with a net inflow of 543,590,781.06 CNY in the same quarter last year[35]. Assets and Liabilities - Total assets at the end of the reporting period were ¥20,551,301,117.65, an increase of 3.75% from the end of the previous year[8]. - The company's total assets amounted to 19,809,328,084.39 CNY, a decrease of 656,529,485.64 CNY from the previous year[39]. - The total liabilities reached 6,739,591,317.83 CNY, with a notable increase in non-current liabilities due to long-term borrowings of 2,059,132,726.26 CNY[39]. - The total liabilities decreased to RMB 6,172,353,003.62 as of September 30, 2021, from RMB 8,820,449,592.69 at the end of 2020, a decline of approximately 30.00%[25]. - The company’s long-term equity investments remained stable at 100,524,554.43 CNY, indicating no significant changes[39]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 123,006, with the largest shareholder, Qidong Huahong Electronics Co., Ltd., holding 715,241,427 shares, accounting for 34.72% of the total shares[13]. - The company has a repurchase account holding 21,956,999 shares, representing 1.07% of the total share capital[15]. - The company’s major shareholders include domestic and foreign entities, with the top ten shareholders holding a significant portion of the shares[13]. - The company has not disclosed any known relationships among other shareholders or whether they are acting in concert[15]. Strategic Initiatives - The company signed an investment cooperation agreement with the government of Wuhua County to invest in a total of 1.5GW solar power and 0.5GW wind power projects, with a total investment of RMB 10.8 billion[16]. - A joint venture, Jiangsu Yiwei Linyang Energy Technology Co., Ltd., was established with a registered capital of RMB 100 million, where the company holds 35%[16]. - The company plans to develop distributed photovoltaic projects with a total installed capacity of approximately 670MW and a shared energy storage station of 100MW/200MWh[18]. - The company has established a joint venture with China Three Gorges Capital and others, with a registered capital of RMB 1 billion, where the company contributes RMB 375 million, accounting for 37.5%[16]. - The company is collaborating with Huaneng Jiangsu Energy Development Co., Ltd. on existing photovoltaic project acquisitions and new project developments[18]. - The company’s subsidiary, Jiangsu Linyang New Energy Technology Co., Ltd., has signed agreements to promote renewable energy projects in various regions[18]. Accounting and Standards - The company has adopted new leasing standards, which impacted the financial statements starting from January 1, 2021, but specific financial impacts were not detailed[37]. - The company implemented the revised accounting standards for leases effective January 1, 2021, impacting the recognition of right-of-use assets and lease liabilities[41].

Financial Performance - The company reported a total revenue of 1.2 billion CNY for the first half of 2021, representing a year-on-year increase of 15%[1]. - The net profit attributable to shareholders reached 150 million CNY, up 20% compared to the same period last year[1]. - The company's operating revenue for the first half of 2021 was ¥2,709,325,484.13, a decrease of 8.20% compared to the same period last year[19]. - The net profit attributable to shareholders of the listed company was ¥544,320,998.66, down by 0.96% year-on-year[19]. - The net profit after deducting non-recurring gains and losses was ¥521,290,243.06, an increase of 1.27% compared to the previous year[19]. - The company reported a loss of ¥1,203,803.70 from the disposal of non-current assets[20]. - The company achieved a revenue of 2.709 billion RMB and a net profit attributable to shareholders of 544 million RMB, with a year-on-year growth of 1.27% in net profit after deducting non-recurring gains and losses[48]. - The company’s revenue decreased by 8.20% to approximately CNY 2.71 billion, primarily due to a decline in overseas electric meter sales[56]. - The company’s operating cash flow decreased by 71.70% to approximately CNY 87.21 million, attributed to increased cash payments for goods[56]. - The company reported a total comprehensive income of approximately ¥542.03 million for the first half of 2021, compared to ¥553.54 million in the same period of 2020[163]. Market Expansion and User Growth - The company has expanded its user base by 10% in the renewable energy sector, now serving over 500,000 customers[1]. - Market expansion efforts include entering two new international markets, with an expected contribution of 5% to total revenue by the end of 2021[1]. - The company has established a comprehensive energy service platform that has onboarded over 5,300 high-energy-consuming industrial and commercial users, with a total annual electricity consumption exceeding 10 billion kWh[29]. - The company has established strategic partnerships for developing over 2GW distributed energy projects, including a collaboration with Huaneng New Energy for quality renewable projects nationwide[52]. Research and Development - The company is investing 200 million CNY in R&D for new energy technologies, aiming to enhance efficiency and reduce costs[1]. - The company has obtained 9 new authorized patents during the reporting period, including 4 invention patents, bringing the total to 228 authorized patents, of which 65 are invention patents[40]. - The company is focusing on the development of a "BMS+PCS+EMS" integrated energy storage system, aiming to provide high safety, long life, and low-cost lithium iron phosphate battery solutions[29]. - The company is actively exploring a shared energy storage business model, providing energy storage asset leasing services to renewable energy plants[29]. - The company is focusing on technological innovation and has increased R&D investment to adapt to the growing demand for new technologies in project implementation[74]. Strategic Partnerships and Joint Ventures - The company has established a joint venture with Hubei Yiwei Power Co., Ltd. to build a 10GWh production base for lithium iron phosphate batteries, enhancing its competitive edge in the energy storage industry[42]. - The company has formed strategic partnerships with major state-owned enterprises and energy service companies, leveraging resources to cultivate new profit growth points[45]. - The company signed a strategic cooperation agreement with Huawei Digital Energy Technology Co., focusing on photovoltaic, energy storage, and digital energy fields[113]. - A joint venture was established with Shanghai Shunhua New Energy System Co., Ltd. to develop and produce hydrogen generation equipment, focusing on the "new energy + hydrogen production" sector[117]. Environmental and Social Responsibility - The company is committed to environmental protection and has not faced any significant penalties for environmental violations during the reporting period[89]. - The company is actively promoting energy conservation and has implemented measures to reduce carbon emissions, aligning with national goals for carbon neutrality[90]. - The company invested 12.88 million yuan in poverty alleviation and local economic development projects, including photovoltaic assistance projects that increased local residents' income by 3,000 yuan annually for 2,333 households in Guancun County[93]. - The company is committed to supporting local education and social development through donations from its 100MW photovoltaic project in Shunping County[93]. Financial Position and Assets - The company has maintained a low debt-to-asset ratio, with figures of 43.01%, 40.94%, 44.53%, and 44.23% at the end of 2021, indicating strong solvency and risk resistance[47]. - The company’s total assets reached ¥20,557,131,404.37, reflecting a growth of 3.78% year-on-year[19]. - The net assets attributable to shareholders of the listed company increased by 4.34% to ¥11,441,204,353.89 compared to the end of the previous year[19]. - The company’s accounts receivable increased to approximately CNY 4.47 billion from CNY 3.78 billion at the end of 2020[149]. - The company’s inventory decreased to approximately CNY 558.06 million from CNY 760.81 million at the end of 2020[149]. Risks and Challenges - The company has identified key risks in the market, including regulatory changes and competition, which are detailed in the management discussion section[1]. - The company faces risks in overseas project operations due to intensified price competition and complex customer demands, necessitating enhanced market research and risk management strategies[75]. - The company acknowledges the impact of the COVID-19 pandemic on normal production operations and is adapting to the new normal of epidemic prevention and control[76]. - The global supply chain for electronic components has faced tightness due to the pandemic, affecting production and shipment; the company has proactively adjusted procurement strategies to mitigate these risks[78]. Future Outlook - Future outlook indicates a projected revenue growth of 25% for the second half of 2021, driven by new product launches and market expansion[1]. - The company aims to become a leading provider of products and operational services in the global smart grid, renewable energy, and energy storage sectors, enhancing its overall competitiveness through structural upgrades[39]. - The company plans to enhance its decision-making capabilities by closely monitoring national macro policies and industry trends to mitigate risks associated with potential adjustments in industrial policies[70].

Financial Performance - The company achieved a net profit attributable to shareholders of 997,178,080.50 CNY for the year 2020, with a parent company net profit of 272,921,480.16 CNY[5]. - The company's operating revenue for 2020 was CNY 5,799,015,442.74, representing a 72.63% increase compared to CNY 3,359,243,789.30 in 2019[26]. - The net profit attributable to shareholders for 2020 was CNY 997,178,080.50, a 42.37% increase from CNY 700,405,103.05 in 2019[26]. - The net cash flow from operating activities reached CNY 1,222,536,250.53, marking a significant increase of 204.12% compared to CNY 401,986,083.36 in 2019[26]. - The total assets of the company at the end of 2020 were CNY 19,809,328,084.39, up 13.40% from CNY 17,468,103,037.75 at the end of 2019[26]. - The basic earnings per share for 2020 were CNY 0.57, reflecting a 42.50% increase from CNY 0.40 in 2019[27]. - The weighted average return on equity for 2020 was 9.22%, an increase of 2.53 percentage points from 6.69% in 2019[27]. - The company reported a net profit of CNY 417,927,831.32 in Q2 2020, which was the highest quarterly profit for the year[29]. - The net profit attributable to shareholders for Q4 2020 was CNY 61,893,328.57, indicating a decline compared to previous quarters[29]. Profit Distribution - The proposed profit distribution plan includes a cash dividend of 1.07 CNY per 10 shares (tax included) for all shareholders, with a total distributable profit of 1,267,590,654.13 CNY at year-end[5]. - The company does not plan to convert capital reserves into share capital in this profit distribution[5]. - The total cash dividend for the year 2020, including the repurchase of shares, was 415,184,710.69 RMB, resulting in a dividend payout ratio of 41.64%[140]. - The company implemented a cash dividend policy, distributing a cash dividend of 0.5 RMB per 10 shares in 2019, totaling 85,706,578.60 RMB, which represented 12.24% of the net profit attributable to ordinary shareholders[141]. - In 2020, the company increased the cash dividend to 1.07 RMB per 10 shares, amounting to 180,291,542.30 RMB, which accounted for 18.08% of the net profit attributable to ordinary shareholders[141]. Share Repurchase - The company repurchased shares totaling 300.03 million CNY during the second phase of its buyback plan, with 234.89 million CNY considered as cash dividends for the reporting period[5]. - The company reported a total of 21,956,999 shares repurchased, accounting for 1.25% of the total share capital, with a total expenditure of 100.48 million RMB[153]. - The company completed the repurchase and cancellation of 8,792,000 unvested restricted stocks on June 22, 2020[152]. - The cash repurchase of shares amounted to 234,893,168.39 RMB in 2020, which is considered as part of the cash dividend[143]. Audit and Compliance - The company’s board of directors and management have confirmed the accuracy and completeness of the financial report[3]. - The company has received a standard unqualified audit opinion from its auditing firm[4]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - There are no violations of decision-making procedures regarding external guarantees[8]. - The company had no significant litigation or arbitration matters during the reporting period[150]. Market and Business Strategy - The company plans to continue expanding its market presence and investing in new technologies to enhance its competitive edge in the energy sector[19]. - The company aims to expand its market presence through strategic partnerships and acquisitions, enhancing its capabilities in the smart energy sector[35]. - The company is focusing on energy efficiency and low-carbon technology applications to meet the "30·60" carbon peak and carbon neutrality commitments[43]. - The company is actively exploring carbon asset management and trading models in response to the "30·60" carbon peak and neutrality goals[59]. - The company is committed to improving its smart energy management cloud platform to enhance user experience and increase user engagement[125]. Research and Development - Jiangsu Linyang Energy Co., Ltd. has invested in R&D, obtaining 19 new patents during the reporting period, including 6 invention patents, bringing the total to 229 patents, of which 61 are invention patents[46]. - The company is focusing on multiple R&D projects related to key industry technologies and overseas market characteristics, enhancing its product cost and technological advantages[81]. - The company is committed to continuous R&D investment and collaboration with educational institutions to keep pace with technological advancements and market demands[134]. Risks and Challenges - The company has detailed the risks it faces in the annual report, urging investors to pay attention to these risks[8]. - The company faces potential risks related to industry development and policy changes that may impact its business operations[126]. - The COVID-19 pandemic has disrupted normal production and logistics, affecting the supply of raw materials and potentially increasing construction costs for solar power plants[136]. - The company faces risks in overseas project operations due to intensified price competition and complex customer demands, necessitating improved market research and risk management strategies[135]. Investments and Subsidiaries - In 2020, Jiangsu Linyang Energy Co., Ltd. made investments in 25 subsidiaries, with a total registered capital of 1 billion CNY for new companies established[97]. - The company increased capital in four subsidiaries during the reporting period, with a total investment amount of 45.5 million CNY, including 18.3286 million CNY in Zhongguang Nuclear Linyang New Energy Co., Ltd.[99]. - Jiangsu Linyang Energy established Jiangsu Linyang Yiwei Energy Technology Co., Ltd. in September 2020, with a registered capital of 100 million CNY, holding 85% of the shares[100]. - The company holds a 100% stake in several subsidiaries focused on photovoltaic power stations, contributing significantly to overall profitability[103]. Industry Trends - The global photovoltaic market is expected to see new installations of 150 GW to 170 GW in 2021, with a total of 1,050 GW to 1,295 GW from 2021 to 2025[40]. - The renewable energy sector is experiencing accelerated growth due to global climate change initiatives and competitive pricing of renewable energy sources[108]. - The comprehensive energy service market in China is anticipated to grow from a value of 522.2 billion yuan in 2019 to a trillion-level market in the medium term[113].