证券代码：601567 证券简称：三星医疗 公告编号：临 2023-075 宁波三星医疗电气股份有限公司 关于召开 2023 年半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： 宁波三星医疗电气股份有限公司（以下简称"公司"）已于 2023 年 8 月 24 日发布公司 2023 年半年度报告，为便于广大投资者更全面深入地了解公司 2023 年半年度经营成果、财务状况，公司计划于 2023 年 9 月 1 日下午 15:00-16:30 举 行 2023 年半年度业绩说明会，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视频结合网络互动召开，公司将针对 2023 年半年度经 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。 二、说明会召开的时间、地点 （三）会议召开方式：上证路演中心视频直播和网络互动 三、参加人员 董事长：沈国英女士 总裁：易师伟先生 董事会秘书：郭粟女士 财务负责人：葛瑜斌先生 独立董事：段 ...

Financial Performance - The company's operating revenue for 2022 was CNY 9,098,202,561.40, representing a year-on-year increase of 29.55% compared to CNY 7,022,902,468.70 in 2021[17]. - The net profit attributable to shareholders of the listed company for 2022 was CNY 948,115,535.82, a 37.40% increase from CNY 690,042,564.52 in 2021[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1,058,605,142.56, showing a significant increase of 103.90% compared to CNY 519,178,466.27 in 2021[17]. - The net cash flow from operating activities for 2022 was CNY 1,222,584,815.56, a remarkable increase of 514.54% from CNY 198,943,484.74 in 2021[17]. - The total assets at the end of 2022 were CNY 16,227,718,923.75, reflecting a year-on-year growth of 9.16% from CNY 14,865,322,029.25 in 2021[17]. - The net assets attributable to shareholders of the listed company at the end of 2022 were CNY 9,505,536,761.16, an increase of 7.13% compared to CNY 8,873,230,301.13 at the end of 2021[17]. - Basic earnings per share increased by 34.00% to CNY 0.67 in 2022 compared to CNY 0.50 in 2021[18]. - The weighted average return on equity rose to 10.32% in 2022, up 2.42 percentage points from 7.90% in 2021[18]. - The company reported a significant reduction in financial expenses, with a decrease of 116.82% to -¥14,852,529.09, attributed to increased exchange gains and reduced interest expenses[55]. Dividend Policy - The company plans to distribute a cash dividend of 3.50 RMB per 10 shares to all shareholders, totaling approximately 492.79 million RMB, which accounts for 51.98% of the net profit attributable to shareholders for the year[4]. - The company has not proposed any capital reserve transfer to increase share capital for the year[4]. - The cash dividend amount for 2022 represents 51.98% of the consolidated net profit attributable to ordinary shareholders[138]. - The cash dividend policy has been strictly executed since its amendment in 2013, ensuring compliance with regulations[137]. - The company confirmed that all decisions regarding dividends were made in accordance with the company's articles of association and shareholder resolutions[137]. Governance and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[4]. - The board of directors and supervisory board members have all attended the board meeting, ensuring the integrity of the annual report[4]. - There are no violations of decision-making procedures regarding external guarantees[5]. - The company has implemented a robust governance structure, ensuring compliance with legal and regulatory requirements while maintaining transparency in information disclosure[99]. - Independent directors fulfilled their responsibilities and ensured the protection of minority shareholders' rights[137]. Strategic Initiatives - The company is focused on expanding its market presence and enhancing its product offerings through new technology development[12]. - Future outlook includes strategic initiatives aimed at increasing operational efficiency and market share[12]. - The company plans to explore potential mergers and acquisitions to bolster its competitive position in the industry[12]. - The company is actively pursuing mergers and acquisitions to expand its market footprint and enhance service offerings[121]. - The company plans to continue expanding its market presence through strategic acquisitions and new product development initiatives[106]. Challenges and Risks - The company faced challenges due to global supply chain constraints and rising raw material costs in 2022[28]. - The company acknowledges investment risks associated with overseas acquisitions and the long payback period for new rehabilitation hospitals[96]. - The company is exposed to intense market competition in the medical services sector, which may adversely affect profitability if competitors enhance production and quality[95]. - The company relies heavily on domestic power system users for its smart distribution equipment, making it vulnerable to changes in national policies and investment scales[96]. Research and Development - Research and development expenses rose to ¥327,023,160.08, marking an 11.22% increase from ¥294,029,247.93[56]. - The company is focusing on capital increase for its subsidiary, Ningbo Aux High-Tech Co., Ltd., to support its growth initiatives[122]. - The company is committed to talent acquisition and training, establishing a partnership model with renowned medical teams to enhance its clinical capabilities[53]. Environmental Responsibility - The company achieved a total carbon dioxide equivalent reduction of 13,545 tons through various measures[161]. - The rooftop photovoltaic power generation project has a capacity of 12MW, resulting in an annual reduction of 13,272 tons of CO2 emissions[162]. - The company has implemented a self-monitoring plan for pollutant emissions, ensuring compliance with national environmental standards[157]. - The company processed 5.21 tons of hazardous waste (packaging barrels) and 7.51 tons of non-hazardous waste (waste activated carbon) through qualified third-party disposal[151]. Social Responsibility - The company has committed to invest 100,000 yuan annually from 2021 to 2025 to support economic development in the Yuxi County of Daliangshan, Sichuan, as part of its poverty alleviation efforts[166]. - A total of 553 individuals benefited from labor cooperation projects established in various regions, including Guizhou and Sichuan, from 2020 to 2022, addressing labor shortages while supporting poverty alleviation[167]. - The company has engaged in targeted poverty alleviation efforts, aligning with national initiatives to support rural revitalization and economic development[166]. Acquisitions and Investments - The company completed 100% equity acquisitions of five rehabilitation hospitals, enhancing its operational experience and scale effects in the medical service sector[32]. - The company approved the acquisition of 100% equity in multiple rehabilitation hospitals, including Nanjing Mingzhou Rehabilitation Hospital and Wuhan Mingzhou Rehabilitation Hospital, as part of its expansion strategy[106]. - The company has committed to significant acquisitions and expansions in the rehabilitation sector, enhancing its market presence[186].

Financial Performance - The company's operating revenue for Q1 2023 was CNY 2,248,372,445.81, representing a year-on-year increase of 13.42%[4] - The net profit attributable to shareholders for Q1 2023 was CNY 269,516,681.64, reflecting a significant increase of 63.84% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 265,681,678.26, up by 31.68% year-on-year[4] - The basic and diluted earnings per share for Q1 2023 were both CNY 0.19, an increase of 58.33% compared to the previous year[4] - The weighted average return on equity increased by 1.01 percentage points to 2.79%[4] - Total operating revenue for Q1 2023 reached CNY 2,248,372,445.81, an increase of 13.4% compared to CNY 1,982,418,083.43 in Q1 2022[18] - Total operating costs for Q1 2023 were CNY 1,942,265,271.77, up from CNY 1,771,349,767.48 in Q1 2022, reflecting a year-over-year increase of 9.6%[19] - Net profit for Q1 2023 was CNY 272,609,567.16, compared to CNY 169,697,089.00 in Q1 2022, representing a growth of 60.6%[20] - Earnings per share for Q1 2023 were CNY 0.19, an increase from CNY 0.12 in Q1 2022[20] - The company reported a total comprehensive income of CNY 286,068,051.13 for Q1 2023, compared to CNY 165,454,901.35 in Q1 2022[20] Assets and Liabilities - Total assets at the end of Q1 2023 were CNY 16,283,942,244.29, a slight increase of 0.35% from the end of the previous year[5] - The equity attributable to shareholders increased by 2.96% to CNY 9,787,196,127.43 compared to the end of the previous year[5] - Total liabilities decreased from approximately 16.228 billion RMB at the end of 2022 to 16.284 billion RMB as of March 31, 2023[17] - The company's total liabilities amounted to CNY 6,351,886,547.94, a decrease from CNY 6,605,796,858.33 in the previous year[18] - The total equity attributable to shareholders reached CNY 9,787,196,127.43, up from CNY 9,505,536,761.16 year-over-year[18] - The total assets increased to ¥11,807,323,967.10 from ¥11,480,186,220.60, reflecting a growth of 2.8%[26] - The total liabilities rose to ¥5,214,583,701.41, up from ¥5,031,260,300.74, indicating a 3.6% increase[26] - The company's equity increased to ¥6,592,740,265.69, compared to ¥6,448,925,919.86, marking a growth of 2.2%[26] Cash Flow - The company reported a net cash flow from operating activities of CNY 246,430,917.01, with no year-on-year comparison available[4] - The net cash flow from operating activities for Q1 2023 was ¥246,430,917.01, a significant improvement compared to a net outflow of ¥319,720,493.05 in Q1 2022[22] - Total cash inflow from operating activities reached ¥2,550,337,848.75, up from ¥1,701,437,510.63 in the same period last year, indicating a growth of approximately 50%[22] - Cash outflow from operating activities was ¥2,303,906,931.74, compared to ¥2,021,158,003.68 in Q1 2022, reflecting an increase of about 14%[22] - The net cash flow from investing activities was ¥19,937,369.33, a decrease from ¥170,854,544.09 in Q1 2022[23] - Cash inflow from financing activities totaled ¥349,771,365.48, down from ¥1,513,759,201.90 in the previous year, representing a decline of approximately 77%[23] - The net cash flow from financing activities showed a negative balance of ¥91,114,391.87, compared to a negative ¥379,678,190.29 in Q1 2022[23] - The total cash and cash equivalents at the end of Q1 2023 were ¥2,695,907,715.54, an increase from ¥2,128,006,127.97 at the end of Q1 2022[23] Operational Highlights - The company reported a total order backlog of 9.736 billion RMB as of Q1 2023, representing a year-over-year increase of 31.31%[14] - Domestic order backlog reached 5.851 billion RMB, up 17.55% year-over-year, while overseas order backlog was 3.885 billion RMB, showing a significant growth of 59.42%[14] - The company is focusing on expanding its market presence and enhancing its product offerings through new technologies and strategies[14] Expenses - The company’s management expenses increased by 45.86% primarily due to the merger of five rehabilitation hospitals and the establishment of new hospitals[10] - Research and development expenses for Q1 2023 totaled CNY 79,357,579.39, up from CNY 66,944,342.94 in Q1 2022, indicating a 18.5% increase[19] - Research and development expenses for Q1 2023 were ¥18,672,699.63, up from ¥14,999,438.49, reflecting a 24.0% increase year-over-year[27] - The company's financial expenses for Q1 2023 were CNY 1,061,995.80, compared to a gain of CNY 21,973,639.76 in Q1 2022[19]

证券代码：601567 证券简称：三星医疗 公告编号：临 2023-037 宁波三星医疗电气股份有限公司 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： 本次投资者说明会以视频结合网络互动召开，公司将针对 2022 年度经营成 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。 二、说明会召开的时间、地点 （一）会议召开时间：2023 年 05 月 09 日上午 10:00-11:30 宁波三星医疗电气股份有限公司（以下简称"公司"）已于 2023 年 4 月 27 日发布公司 2022 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 05 月 09 日上午 10:00-11:30 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 （ 二 ） 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ ...

Financial Performance - The company's operating revenue for 2021 was ¥7,022,902,468.70, a decrease of 0.98% compared to ¥7,092,708,995.09 in 2020[23]. - The net profit attributable to shareholders for 2021 was ¥690,042,564.52, representing a decline of 27.83% from ¥956,119,901.66 in 2020[23]. - The cash flow from operating activities decreased significantly by 83.83%, amounting to ¥198,943,484.74 in 2021 compared to ¥1,230,542,632.97 in 2020[23]. - The total assets at the end of 2021 were ¥14,865,322,029.25, an increase of 8.54% from ¥13,696,278,189.50 at the end of 2020[23]. - The basic earnings per share for 2021 was ¥0.50, down 27.83% from ¥0.69 in 2020[24]. - The weighted average return on equity for 2021 was 7.90%, a decrease of 3.43 percentage points from 11.33% in 2020[24]. - The net profit excluding non-recurring gains and losses was ¥519,178,466.27, down 25.86% from ¥700,275,830.88 in 2020[23]. - The company's net assets attributable to shareholders increased by 2.93% to ¥8,873,230,301.13 at the end of 2021 from ¥8,620,717,871.96 at the end of 2020[23]. - The diluted earnings per share for 2021 was also ¥0.50, reflecting the same decline as the basic earnings per share[24]. Dividend Distribution - The company plans to distribute a cash dividend of 3.2 CNY per 10 shares, totaling approximately 450.77 million CNY, which accounts for 65.32% of the net profit attributable to shareholders[6]. - The total cash dividend for the current year is projected to be 318,069,118.41 CNY, making up 30.70% of the net profit attributable to shareholders[129]. - The company implemented a cash dividend policy, distributing 2.1 CNY per 10 shares in 2019, totaling 291,179,501.13 CNY, which accounted for 28.10% of the net profit attributable to shareholders[128]. - In 2020, the company increased the cash dividend to 3.5 CNY per 10 shares, amounting to 485,299,168.55 CNY, representing 50.76% of the net profit attributable to shareholders[129]. Audit and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[5]. - The board of directors has confirmed that all members attended the board meeting, ensuring accountability for the report's accuracy[4]. - There are no significant risks that would prevent the board from ensuring the report's authenticity and completeness[8]. - The company has not violated decision-making procedures for external guarantees[8]. - The internal control audit report issued by the accounting firm provided a standard unqualified opinion[137]. - The company reported no significant deficiencies in internal control during the reporting period[137]. Strategic Acquisitions and Investments - The company plans to acquire 84% of Hangzhou Mingzhou Brain Rehabilitation Hospital and 85% of Nanchang Mingzhou Rehabilitation Hospital, indicating a strategic expansion in the healthcare sector[99]. - The company is actively expanding its market presence through strategic acquisitions of rehabilitation hospitals[168]. - The company approved the acquisition of 84% equity of Hangzhou Mingzhou Brain Rehabilitation Hospital through various partnerships[168]. - The company intends to use RMB 32 million of raised funds to acquire 100% equity of Nanjing Mingzhou Rehabilitation Hospital[168]. - The company plans to use RMB 40.32 million of raised funds to acquire 70% and 15% equity of Nanjing Mingzhou Rehabilitation Hospital[168]. Market and Operational Risks - The company has outlined potential risks in its future development in the management discussion and analysis section[8]. - The company is exposed to operational risks associated with new hospital investments, which have long payback periods and potential integration challenges post-acquisition[89]. - The competitive landscape in the medical services industry is intense, with significant risks related to market competition and regulatory changes[88]. - The company is actively monitoring the impact of the ongoing COVID-19 pandemic on its business operations and expansion plans[89]. Research and Development - Research and development expenses amounted to approximately ¥294 million, a decrease of 5.99% from the previous year[50]. - The company employed 743 R&D personnel, accounting for 11.30% of the total workforce[60]. - The company is focusing on rehabilitation medical services as a key growth area, integrating ICU and rehabilitation services to improve patient recovery outcomes[47]. Environmental and Social Responsibility - The company has maintained compliance with environmental standards, with actual emissions of COD at 9.126 tons per year, below the regulatory limit[139]. - The company actively promotes energy-saving and environmental protection measures in its production processes[149]. - The company has been involved in various public welfare activities, providing support to disadvantaged groups during traditional festivals[152]. - During the pandemic, the company’s hospitals executed 24-hour nucleic acid testing, ensuring continuous service without breaks[153]. Governance and Management - The company has a structured compensation mechanism for senior management, consisting of a base salary and performance-based pay, evaluated by a compensation committee[127]. - The company has established specialized committees within the board, including an Audit Committee and a Strategic Committee, to enhance decision-making processes[115]. - The company has maintained a high level of attendance at board meetings, with no director missing more than two meetings, reflecting strong engagement from the board[114]. - The company has undergone significant management changes, including the resignation of the previous president, Duan Liang, due to work changes[110].

[Key Financial Data](index=1&type=section&id=%E4%B8%80%E3%80%81%20%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) The company's revenue and net profit declined in Q1-Q3 2021, accompanied by a significant drop in operating cash flow [Core Financial Indicators](index=1&type=section&id=1.1%20%E6%A0%B8%E5%BF%83%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) Revenue and net profit declined in Q1-Q3 2021, with operating cash flow turning negative due to inventory buildup 2021 Q1-Q3 Key Financial Indicators | Indicator | YTD Q3 2021 | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 5,103,632,532.88 CNY | -7.05% | | Net Profit Attributable to Shareholders | 667,219,123.50 CNY | -8.67% | | Net Profit Attributable to Shareholders (Non-recurring Items Excluded) | 593,084,160.59 CNY | 0.32% | | Net Cash Flow from Operating Activities | -474,955,452.90 CNY | -437.72% | | Basic Earnings Per Share (CNY/Share) | 0.48 CNY | -8.90% | | Weighted Average Return on Equity | 7.51% | Decreased by 1.43 p.p. | | Total Assets (at Period-End) | 13,827,924,657.06 CNY | 0.96% (vs. Year-End 2020) | | Equity Attributable to Shareholders (at Period-End) | 8,672,402,954.51 CNY | 0.60% (vs. Year-End 2020) | - Net cash flow from operating activities **decreased sharply by 437.72%** YoY, primarily due to increased payments for goods to build up inventory amid supply chain tensions and rising prices for chips and commodities[8](index=8&type=chunk) 2021 Q1-Q3 Non-Recurring Profit and Loss Items | Item | Amount (CNY) | | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -2,208,922.30 | | Government Grants Included in Current Profit/Loss | 30,427,550.15 | | Fair Value Change Gains/Losses on Trading Financial Assets/Liabilities | 59,889,549.18 | | Other Net Non-operating Income and Expenses | 7,002,576.21 | | **Total** | **74,134,962.92** | [Shareholder Information](index=3&type=section&id=%E4%BA%8C%E3%80%81%20%E8%82%A1%E4%B8%9C%E4%BF%A1%E6%81%AF) The report details the company's shareholder structure, including the total number of shareholders and top ten holdings [Shareholder Structure](index=3&type=section&id=2.1%20%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5) The company had 27,355 common shareholders, with AUX Group as the controlling shareholder and related parties among top holders - As of the end of the reporting period, the total number of common shareholders was **27,355**[9](index=9&type=chunk) Top Ten Shareholders | Shareholder Name | Number of Shares | Shareholding Ratio (%) | | :--- | :--- | :--- | | AUX Group Co., Ltd. | 457,719,653 | 33.01 | | Zheng Jianjiang | 207,306,730 | 14.95 | | Zheng Jiang | 66,395,000 | 4.79 | | He Xiwan | 35,420,000 | 2.55 | | Lu Anjun | 31,760,250 | 2.29 | | Xu Xingen | 27,700,000 | 2.00 | | Golden Eagle Fund - SPD Bank - Golden Eagle Suitong Private Placement No. 136 | 21,088,410 | 1.52 | | Zhu Qijun | 19,936,943 | 1.44 | | Shanghai Regan Asset - Regan CTA Composite Strategy No. 3 | 18,000,000 | 1.30 | | Shanghai Regan Asset - Regan Tianbao All-Weather No. 3 | 15,000,000 | 1.08 | - The controlling shareholder is AUX Group Co., Ltd., and the actual controller is Zheng Jianjiang; Zheng Jiang is the brother of Zheng Jianjiang, and He Xiwan is the brother of Zheng Jianjiang's spouse, He Yiju[11](index=11&type=chunk) [Other Significant Matters](index=5&type=section&id=%E4%B8%89%E3%80%81%20%E5%85%B6%E4%BB%96%E6%8F%90%E9%86%92%E4%BA%8B%E9%A1%B9) This section confirms the absence of other significant operational matters requiring special investor attention during the period [Important Information Reminder](index=5&type=section&id=3.1%20%E9%87%8D%E8%A6%81%E4%BF%A1%E6%81%AF%E6%8F%90%E9%86%92) No other significant operational information requires special investor attention during this reporting period - The company has no other significant information regarding its operations that requires special investor attention during this reporting period[12](index=12&type=chunk) [Quarterly Financial Statements](index=5&type=section&id=%E5%9B%9B%E3%80%81%20%E5%AD%A3%E5%BA%A6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section presents the consolidated balance sheet, income statement, and cash flow statement for Q1-Q3 2021 [Consolidated Balance Sheet](index=5&type=section&id=4.1%20%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) Total assets grew slightly to CNY 13.83 billion, driven by increases in receivables and inventories, with a 36.97% debt-to-asset ratio Key Balance Sheet Items (Unit: CNY) | Item | Sep 30, 2021 | Dec 31, 2020 | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 13,827,924,657.06 | 13,696,278,189.50 | 0.96% | | Total Liabilities | 5,111,723,528.86 | 4,911,338,256.40 | 4.08% | | Equity Attributable to Parent Company | 8,672,402,954.51 | 8,620,717,871.96 | 0.60% | Key Asset Item Changes (Unit: CNY) | Item | Sep 30, 2021 | Dec 31, 2020 | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 2,230,336,320.89 | 2,561,665,416.04 | -12.93% | | Accounts Receivable | 2,416,254,015.95 | 1,805,406,435.47 | 33.84% | | Inventories | 1,065,462,238.39 | 640,114,379.32 | 66.45% | | Non-current Assets Due within One Year | 909,434,436.09 | 1,436,415,512.66 | -36.69% | [Consolidated Income Statement](index=7&type=section&id=4.2%20%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) Revenue and net profit for Q1-Q3 2021 decreased by 7.05% and 8.67% respectively, with profits supported by cost control and investment gains Core Income Statement Data (2021 Q1-Q3) | Item | Amount (CNY) | YoY Change | | :--- | :--- | :--- | | Total Operating Revenue | 5,103,632,532.88 | -7.05% | | Total Operating Costs | 4,550,349,761.95 | -4.90% | | Investment Income | 154,856,127.37 | 299.38% | | Gain from Fair Value Changes | 32,296,749.31 | -84.53% | | Total Profit | 792,623,427.10 | -9.05% | | Net Profit | 672,924,192.22 | -8.34% | | Net Profit Attributable to Parent Company Shareholders | 667,219,123.50 | -8.67% | [Consolidated Cash Flow Statement](index=10&type=section&id=4.3%20%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) Operating cash flow turned negative to -CNY 475 million due to increased payments, while investing activities generated a net inflow Key Cash Flow Data (2021 Q1-Q3) | Item | Amount (CNY) | Same Period Last Year (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -474,955,452.90 | 140,637,230.15 | | Net Cash Flow from Investing Activities | 659,990,344.91 | -121,593,297.15 | | Net Cash Flow from Financing Activities | -486,625,357.59 | -862,116,777.78 | | Net Increase in Cash and Cash Equivalents | -309,422,917.03 | -850,492,625.43 | [Impact of Adopting New Lease Standard](index=12&type=section&id=4.4%20%E6%96%B0%E7%A7%9F%E8%B5%81%E5%87%86%E5%88%99%E6%89%A7%E8%A1%8C%E5%BD%B1%E5%93%8D) The company adopted the new lease standard on Jan 1, 2021, recognizing right-of-use assets and lease liabilities on the balance sheet - The company adopted the new lease standard (ASBE No. 21 - Leases) issued by the Ministry of Finance in 2018, effective January 1, 2021, and adjusted relevant financial statement items accordingly[28](index=28&type=chunk) Key Adjustments to Opening Balance Sheet from First-time Adoption | Adjusted Item | Adjustment Amount (CNY) | | :--- | :--- | | **Assets** | | | Right-of-use Assets | +85,806,950.78 | | Deferred Tax Assets | +2,570,344.32 | | Prepayments | -494,400.00 | | **Liabilities** | | | Lease Liabilities | +101,037,242.25 | | Other Payables | -4,144,847.54 | | **Equity** | | | Retained Earnings | -7,910,884.64 |