证券代码：601882 证券简称：海天精工 公告编号：2021-031 宁波海天精工股份有限公司 关于参加"宁波辖区 2021 年度上市公司投资者网上 集体接待日主题活动"的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 为进一步加强宁波辖区上市公司与投资者特别是中小投资者的沟通交流，增 强上市公司的透明度，提升公司治理水平，促进公司规范运作，在宁波证监局指 导下，宁波上市公司协会将联合深圳市全景网络有限公司共同举办"心系投资者 携手共行动"——宁波辖区 2021 年度上市公司投资者网上集体接待日主题活动。 活动于 2021 年 11 月 18 日下午 15:00-17:00 举行，平台登陆地址为： https://rs.p5w.net/。 届时，宁波海天精工股份有限公司高管人员将参加本次活动，通过网络在线 交流形式，就公司治理、发展战略、经营状况、可持续发展等投资者所关心的问 题，与投资者进行"一对多"形式的沟通与交流。欢迎广大投资者踊跃参与！ 特此公告。 宁波海天精工股份有限公司董事会 2021 年 11 月 ...

Financial Performance - The company's operating revenue for Q3 2021 was ¥740,325,338.09, representing a year-over-year increase of 71.81%[7] - The net profit attributable to shareholders for Q3 2021 was ¥104,012,549.15, reflecting a significant increase of 188.87% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2021 was ¥98,361,269.34, up 206.91% year-over-year[7] - For the year-to-date period, the total operating revenue reached ¥2,008,822,056.28, an increase of 81.53% compared to the previous year[7] - The net profit attributable to shareholders for the year-to-date period was ¥262,822,474.65, showing a growth of 193.44% year-over-year[7] - The basic earnings per share for Q3 2021 was ¥0.1993, an increase of 188.87% compared to the same period last year[9] - The diluted earnings per share for Q3 2021 was also ¥0.1993, reflecting a year-over-year increase of 188.87%[9] - Net profit for the third quarter of 2021 was ¥262,822,474.65, a substantial rise from ¥89,566,533.81 in the same quarter of 2020, indicating an increase of approximately 194.5%[32] - Earnings per share for the third quarter of 2021 were ¥0.5035, compared to ¥0.1716 in the same quarter of 2020, showing an increase of about 194.5%[35] - The company reported a total profit of ¥295,649,716.63 for the third quarter of 2021, compared to ¥99,676,406.35 in the same quarter of 2020, indicating an increase of approximately 196.5%[32] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,632,648,361.04, representing a 22.12% increase from the end of the previous year[9] - The equity attributable to shareholders at the end of the reporting period was ¥1,537,648,097.55, up 9.91% from the previous year[9] - The company's total current assets as of September 30, 2021, amount to approximately RMB 2.998 billion, an increase from RMB 2.323 billion in the previous year[25] - The total liabilities of the company as of September 30, 2021, are approximately RMB 2.095 billion, compared to RMB 1.576 billion in the previous year, indicating a significant increase[28] - The total equity of the company remains at RMB 522 million, unchanged from the previous year[28] - The total liabilities and shareholders' equity at the end of the reporting period were ¥1,537,648,097.55, up from ¥1,398,968,359.35 in the previous year, reflecting an increase of about 9.9%[30] Cash Flow - The cash inflow from operating activities for the first three quarters of 2021 was CNY 2,019,687,191.08, compared to CNY 1,205,543,948.43 in the same period of 2020, representing an increase of approximately 67.5%[39] - The net cash flow from operating activities for the first three quarters of 2021 was CNY 225,199,650.31, up from CNY 176,689,929.83 in 2020, indicating a growth of about 27.4%[39] - The cash outflow for purchasing goods and services in the first three quarters of 2021 was CNY 1,320,118,669.14, compared to CNY 749,153,643.99 in 2020, reflecting an increase of approximately 76.2%[39] - The net cash flow from investing activities for the first three quarters of 2021 was -CNY 212,117,874.98, a decrease from CNY 86,944,825.17 in 2020, indicating a decline in investment returns[40] - The cash outflow for investment activities in the first three quarters of 2021 totaled CNY 549,472,576.67, compared to CNY 306,309,371.01 in 2020, representing an increase of about 79.3%[40] - The cash outflow for dividend distribution and interest payments in the first three quarters of 2021 was CNY 124,236,000.00, significantly higher than CNY 23,490,000.00 in 2020, marking an increase of approximately 429.5%[40] - The net increase in cash and cash equivalents for the first three quarters of 2021 was -CNY 113,272,542.22, contrasting with an increase of CNY 237,806,361.64 in 2020[40] - The ending balance of cash and cash equivalents as of the end of the third quarter of 2021 was CNY 538,587,502.15, compared to CNY 483,491,647.83 at the end of the same period in 2020, showing an increase of about 11.4%[40] Shareholder Information - The total number of common shareholders at the end of the reporting period is 33,243[19] - The largest shareholder, Ningbo Haitian Co., Ltd., holds 201,986,000 shares, accounting for 38.69% of the total shares[19] - The company has no pledged or frozen shares among its top shareholders[19] Research and Development - Research and development expenses for the first three quarters of 2021 amounted to ¥72,166,423.38, up from ¥45,585,533.23 in 2020, marking an increase of approximately 58.2%[30] - The company has not disclosed any new product developments or market expansion strategies in the current report[22] Other Financial Metrics - The company's inventory as of September 30, 2021, is valued at approximately RMB 1.080 billion, up from RMB 776 million in the previous year[25] - The accounts receivable amount to approximately RMB 229.18 million, an increase from RMB 171.92 million in the previous year[25] - The company reported a significant increase in accounts payable, which stands at approximately RMB 525.19 million, compared to RMB 348.10 million in the previous year[28] - Other comprehensive income after tax for the third quarter of 2021 was -¥173,994.17, an improvement from -¥453,492.23 in the same quarter of 2020[35] - The company's financial expenses for the third quarter of 2021 were -¥5,553,348.80, compared to -¥681,239.11 in the same quarter of 2020, showing a decrease in financial costs[32]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥1,268,496,718.19, representing an increase of 87.73% compared to the same period last year[21]. - The net profit attributable to shareholders of the listed company was ¥158,809,925.50, a significant increase of 196.51% year-on-year[21]. - The net profit after deducting non-recurring gains and losses was ¥142,422,456.17, up 258.84% from the previous year[21]. - The basic earnings per share for the first half of 2021 was ¥0.3042, reflecting a year-on-year increase of 196.49%[22]. - The total assets of the company at the end of the reporting period were ¥3,439,375,342.44, an increase of 15.62% compared to the end of the previous year[21]. - The net cash flow from operating activities was ¥102,598,056.49, down 44.79% compared to the same period last year[21]. - The weighted average return on net assets increased by 6.94 percentage points to 11.05%[22]. - The company reported a significant increase in inventory, which rose by 26.15% to ¥978,992,579.30 from ¥776,034,365.99, due to higher order volumes[51]. - The company reported a total current assets of approximately RMB 2.80 billion as of June 30, 2021, an increase from RMB 2.32 billion at the end of 2020, representing a growth of about 20.5%[134]. - The company reported a total of ¥124,236,000.00 in dividends distributed, significantly higher than ¥23,490,000.00 in the previous year, marking an increase of 429.5%[168]. Operational Insights - The company achieved a 50.7% year-on-year increase in revenue for the first half of 2021, with a total profit of 1.55 billion RMB, compared to a loss of 210 million RMB in the same period last year[37]. - The metal cutting machine tool industry saw a 41.0% increase in new orders and a 30.7% increase in production from January to June 2021[37]. - The company employs a "sales-driven production" model, tailoring production based on customer orders and requirements[33]. - The company has established a strong customer base across various industries, enhancing its brand image and market recognition[39]. - The company focuses on high-end CNC machine tools, with a product range that includes CNC gantry machining centers and CNC lathes[30]. Research and Development - The company has accumulated over 219 patents in the field of CNC machine tool research and development, establishing itself as a leading domestic enterprise[40]. - Research and development expenses increased by 76.68% to ¥47,930,426.77 from ¥27,128,144.98, reflecting higher investment in product development[43]. - The company invested $200 million in R&D for new technologies, focusing on AI and machine learning advancements[200]. Market and Competitive Landscape - The CNC machine tool market is expected to continue growing, driven by demand from sectors such as aerospace, automotive, and energy[37]. - The company faces operational risks due to economic cycles affecting fixed asset investments in the machine tool industry[69]. - The company is exposed to competitive risks in the CNC machine tool sector, which is characterized by high technology and capital intensity[70]. - The company faces increasing competition from high-end CNC machine tool enterprises from countries like Japan and Germany, necessitating ongoing efforts to close the technological gap with international firms[72]. Financial Position and Liabilities - The total amount of accounts receivable increased by 11.60% to ¥191,859,930.98 from ¥171,923,430.73, driven by increased sales and longer collection periods for overseas sales[51]. - The company’s total liabilities increased, with accounts payable rising by 68.57% to ¥586,781,588.25 from ¥348,095,274.48, reflecting increased material purchases[53]. - The total liabilities increased to CNY 1,822,337,166.14 as of June 30, 2021, from CNY 1,459,700,409.39 at the end of 2020, representing an increase of approximately 24.8%[150]. - The total guarantee balance at the end of the reporting period was ¥2,918.44 million, accounting for 2.04% of the company's net assets[118]. Environmental and Regulatory Compliance - The company is classified as a key pollutant discharge unit, with major pollutants including wastewater, waste gas, noise, and solid waste[82]. - The company has established a wastewater treatment station, ensuring that wastewater discharge meets regulatory standards[87]. - The company has implemented measures for air pollution control, including the use of activated carbon adsorption, with emissions meeting standards[87]. - The company has conducted environmental monitoring through third-party agencies, confirming that all pollutants are within acceptable limits[92]. Shareholder and Governance Matters - The actual controller and shareholders committed to not reducing their holdings of the company's stock below the issuance price for two years after the lock-up period ends[96]. - The total number of ordinary shareholders at the end of the reporting period was 13,770[122]. - The largest shareholder, Ningbo Haitian Co., Ltd., held 201,986,000 shares, representing 38.69% of the total shares[123]. - The company has not reported any new major strategies or product developments in the current reporting period[111][120]. Future Outlook - The company provided guidance for Q4 2023, expecting revenue to be between $5.5 billion and $5.7 billion, indicating a potential growth of 6% to 10%[200]. - The company plans to enter the Asian market, targeting a revenue contribution of $1 billion by 2025[200].

Financial Performance - Operating revenue surged by 99.47% to CNY 539,100,403.83 year-on-year[11] - Net profit attributable to shareholders increased by 439.14% to CNY 62,117,696.05 compared to the same period last year[11] - Basic earnings per share rose by 438.46% to CNY 0.1190[11] - Total operating revenue for Q1 2021 reached $539.1 million, a significant increase from $270.3 million in Q1 2020, representing a growth of approximately 99.5%[56] - Net profit for Q1 2021 was $62.1 million, up from $11.5 million in Q1 2020, indicating a growth of approximately 438.5%[58] - The company reported a 193.10% increase in income tax expenses to ¥6,062,354.54 from ¥2,068,363.40[19] - The company’s total comprehensive income for Q1 2021 was $62.2 million, compared to $11.8 million in Q1 2020, representing an increase of approximately 426.5%[58] Assets and Liabilities - Total assets increased by 6.35% to CNY 3,163,619,710.50 compared to the end of the previous year[11] - Total liabilities rose to ¥1,701,790,611.49, compared to ¥1,575,718,905.46, marking an increase of about 8.0%[46] - The company's equity attributable to shareholders reached ¥1,461,829,099.01, up from ¥1,398,968,359.35, reflecting a growth of approximately 4.5%[46] - Accounts receivable increased by 56.82% to ¥624,111,557.85 from ¥397,989,811.77[19] - Other non-current assets increased by 464.82% to ¥5,111,700.00 from ¥905,006.20[19] - The total assets increased to ¥3,163,619,710.50 from ¥2,974,687,264.81, reflecting overall growth[44] Cash Flow - Net cash flow from operating activities decreased significantly by 2,910.61% to -CNY 135,984,353.40[11] - The net cash flow from operating activities was negative at -¥135,984,353.40, compared to ¥4,838,256.57 in the previous period[21] - Cash inflows from operating activities totaled ¥399.61 million in Q1 2021, up from ¥322.56 million in Q1 2020, reflecting a growth of approximately 24%[66] - The net cash flow from investing activities was negative at ¥37.51 million in Q1 2021, down from a positive cash flow of ¥8.60 million in Q1 2020[70] Research and Development - Research and development expenses increased by 51.64% to ¥19,987,083.25 from ¥13,180,224.78[19] - The company is investing $200 million in R&D for new technologies aimed at enhancing user experience and product efficiency[71] Market and Growth Strategy - The company plans to continue expanding its market presence and invest in new product development[11] - Market expansion efforts in Europe have resulted in a 25% increase in market share over the past year[71] - The company plans to enter the Asian market by Q1 2024, targeting a revenue contribution of $1 billion within the first year[71] Shareholder Information - The total number of shareholders at the end of the reporting period was 16,470[18] - The top shareholder, Ningbo Haitian Co., Ltd., holds 38.69% of the shares[18] Operational Efficiency - Operating costs increased by 91.71% to ¥411,571,007.30 from ¥214,679,487.78[19] - Operational costs were reduced by 10% due to improved efficiency measures implemented in the last quarter[71]

Financial Performance - The company's operating revenue for 2020 was approximately RMB 1.63 billion, representing a 40.12% increase compared to RMB 1.16 billion in 2019[26]. - Net profit attributable to shareholders for 2020 was approximately RMB 138.22 million, an increase of 80.17% from RMB 76.72 million in 2019[26]. - The net cash flow from operating activities for 2020 was approximately RMB 540.36 million, up 147.68% from RMB 218.16 million in 2019[26]. - The total assets at the end of 2020 were approximately RMB 2.97 billion, a 35.5% increase from RMB 2.20 billion at the end of 2019[26]. - Basic earnings per share for 2020 were RMB 0.26, compared to RMB 0.15 in 2019[26]. - The weighted average return on equity for 2020 was 10.33%, an increase of 4.22 percentage points from 6.11% in 2019[26]. - The company reported a quarterly operating revenue of RMB 525.48 million in Q4 2020, showing a consistent growth trend throughout the year[29]. - The net profit attributable to shareholders in Q4 2020 was approximately RMB 48.65 million, reflecting strong performance in the last quarter[29]. - The company achieved a net profit of RMB 117.46 million after deducting non-recurring gains and losses, which is a 131.63% increase from the previous year[26]. Dividend Distribution - The company plans to distribute a cash dividend of 2.38 RMB per 10 shares, totaling 124,236,000 RMB for the year 2020[7]. - The total number of shares for the dividend distribution is based on 522,000,000 shares outstanding[7]. - The company has established a policy to distribute at least 33% of the distributable profits as cash dividends each year[137]. - In cases of significant investments or cash expenditures exceeding 20 million RMB, the minimum cash dividend proportion should be 40%; if there are no significant investments, it should be at least 80%[132]. - The company has not made any adjustments to its cash dividend policy during the reporting period[136]. - The board of directors is responsible for formulating the profit distribution plan, which must be approved by the shareholders' meeting after independent directors provide their opinions[133]. - The company has a commitment to ensure reasonable returns to investors while considering sustainable development[137]. - The company’s profit distribution plan must be disclosed and approved by at least two-thirds of the voting rights at the shareholders' meeting if there are changes[136]. - The company has not proposed any cash profit distribution plan for the reporting period despite having positive distributable profits[140]. - The company’s cash dividend distribution policy emphasizes a stable and continuous approach to profit distribution[137]. Audit and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[6]. - The company has appointed Lixin Certified Public Accountants as its auditing firm, with partners Pan Shunqiao and He Jian[23]. - The company has not faced any non-operating fund occupation by controlling shareholders or related parties[9]. - There were no significant lawsuits or arbitration matters reported for the year[152]. - The company has no outstanding debts or integrity issues related to court judgments during the reporting period[153]. - The company reported a total amount of related party transactions of ¥19,494,062.02, accounting for 1.19% of similar transaction amounts[156]. - The company ensures that transactions with its controlling shareholders and related parties are conducted on an equal, voluntary, and fair basis, adhering to legal and regulatory requirements[147]. Market and Industry Insights - The metal cutting machine tool industry saw a total operating income of 708.22 billion yuan in 2020, a slight decrease of 0.5% year-on-year, while total profit increased by 20.6% to 47.56 billion yuan[44]. - The production value of metal cutting machine tools in 2020 was 19.36 billion USD, a decrease of 0.7% year-on-year, while consumption value was 21.31 billion USD, down 4.5%[46]. - The company reported a 62.18% year-on-year increase in overseas sales revenue, successfully establishing a subsidiary in Mexico[58]. - The production of CNC metal cutting machines increased by 21.5% year-on-year, indicating a trend towards product structure upgrades[47]. - The company’s market share in the CNC gantry machining center segment has improved significantly due to effective sales and production strategies[58]. Research and Development - The company has accumulated 245 patents and has established itself as a leading enterprise in CNC machine tool R&D and production in China[53]. - Research and development expenses rose to ¥70,165,430.66, an increase of 14.38% year-over-year, driven by higher personnel costs and material expenses[64]. - The company has 243 R&D personnel, which constitutes 16.5% of the total workforce[90]. - The company plans to increase R&D investment to enhance the performance and market share of its products, particularly in aerospace and new energy vehicles[124]. Environmental Compliance - The company is classified as a key regulatory unit for soil environmental pollution by the Ningbo Environmental Protection Department, with major pollutants including wastewater, waste gas, noise, and solid waste[191]. - Wastewater emissions include COD at 378 mg/L, ammonia nitrogen at 5.58 mg/L, suspended solids at 20 mg/L, total phosphorus at 0.57 mg/L, and total zinc at 0.14 mg/L, all below the respective standards[192]. - The company has established a wastewater treatment station that meets the discharge standards through chemical precipitation[194]. - The company employs third-party qualified units for safe and effective disposal of solid waste[194]. - The company has conducted environmental impact assessments prior to project construction and obtained pollution discharge permits from local environmental authorities[197]. - The company has developed emergency response plans for sudden environmental incidents, which have been filed with local environmental bureaus[198]. - In 2020, the company commissioned third-party testing agencies to monitor wastewater, waste gas, and noise, with all pollutants meeting discharge standards[199]. - All subsidiaries of the company are not classified as key polluting units, and environmentally friendly production processes are adopted to minimize pollution[200].

Financial Performance - Net profit attributable to shareholders rose by 73.68% to CNY 89,566,533.81 year-on-year[18] - Basic earnings per share increased by 73.68% to CNY 0.1716[20] - Net profit after deducting non-recurring gains and losses surged by 115.38% to CNY 71,738,738.55 compared to the same period last year[18] - Total operating revenue for Q3 2020 reached ¥430,894,676.90, a 41.1% increase from ¥305,109,957.45 in Q3 2019[55] - Net profit attributable to shareholders for Q3 2020 was ¥36,006,537.78, up 120.5% from ¥16,347,313.74 in Q3 2019[58] - The company's operating revenue for Q3 2020 was CNY 434,591,327.50, a 43.2% increase from CNY 303,473,596.01 in Q3 2019[65] - The net profit for Q3 2020 reached CNY 44,107,286.46, compared to CNY 22,273,686.04 in the same period last year, representing a 97.5% year-over-year growth[68] Revenue and Sales - Operating revenue for the first nine months increased by 34.54% to CNY 1,106,580,493.17 compared to the same period last year[18] - Operating revenue grew by 34.54%, reaching CNY 1,106,580,493.17 compared to CNY 822,490,862.93 in the same period last year[29] - Sales expenses increased by 54.14%, from CNY 55,902,919.34 to CNY 86,171,002.54, driven by rapid growth in overseas sales and higher service fees[29] Assets and Liabilities - Total assets increased by 19.84% to CNY 2,630,948,055.89 compared to the end of the previous year[18] - Total liabilities amounted to CNY 1,280,360,693.85, up from CNY 910,844,334.11, which is an increase of approximately 40.5%[46] - Current assets totaled CNY 1,960,281,581.65, up from CNY 1,469,663,199.36, indicating a year-over-year increase of about 33.4%[40] - Inventory increased to CNY 777,084,530.06 from CNY 619,394,427.49, reflecting a growth of approximately 25.5%[40] - The company reported a significant increase in accounts payable, which rose to CNY 354,322,998.59 from CNY 234,464,753.24, reflecting a growth of about 51.1%[44] Cash Flow - Net cash flow from operating activities decreased by 5.63% to CNY 176,689,929.83 year-on-year[18] - The net cash flow from investing activities improved by 170.80%, from CNY -122,810,722.37 to CNY 86,944,825.17, mainly due to the maturity of financial products[29] - Cash inflow from operating activities for the first three quarters of 2020 was CNY 1,205,543,948.43, an increase of 17.99% compared to CNY 1,021,698,786.13 in the same period of 2019[71] - Cash inflow from investment activities totaled CNY 393,254,196.18 in the first three quarters of 2020, compared to CNY 178,271,263.88 in the same period of 2019, representing a significant increase[74] Shareholder Equity - The company's equity attributable to shareholders reached CNY 1,350,587,362.04, compared to CNY 1,284,540,089.10, showing a growth of about 5.1%[46] - Total equity increased to ¥1,355,272,889.93 from ¥1,260,962,148.51, reflecting a growth of 7.5%[55] Other Financial Metrics - The weighted average return on net assets increased by 2.66 percentage points to 6.80%[20] - The gross profit margin for Q3 2020 was approximately 11.0%, compared to 9.0% in Q3 2019[55] - The company reported a financial expense of CNY 4,471,887.34 in Q3 2020, compared to a financial income of CNY 4,104,040.07 in Q3 2019[65] Changes in Accounting Standards - The company adopted new revenue recognition standards starting January 1, 2020, adjusting prepayments to contract liabilities[86] - The company reported a decrease in prepayments by CNY 338,506,404.88 due to the reclassification to contract liabilities[85] - Contract liabilities were recorded at approximately $333.95 million, reflecting a shift in accounting standards[92]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥675,685,816.27, representing a 30.60% increase compared to ¥517,380,905.48 in the same period last year[21] - The net profit attributable to shareholders for the first half of 2020 was ¥53,559,996.03, a 52.06% increase from ¥35,222,621.48 in the previous year[21] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥39,689,580.46, which is an increase of 111.80% compared to ¥18,739,141.64 in the same period last year[21] - The net cash flow from operating activities for the first half of 2020 was ¥185,838,070.77, up 36.21% from ¥136,438,358.16 in the previous year[24] - Basic earnings per share for the first half of 2020 were ¥0.1026, which is a 52.00% increase from ¥0.0675 in the same period last year[25] - The weighted average return on equity for the first half of 2020 was 4.11%, an increase of 1.28 percentage points compared to 2.83% in the previous year[25] - The company reported a significant increase in net profit and revenue, indicating strong operational performance despite market challenges[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,470,510,598.05, reflecting a 12.53% increase from ¥2,195,384,423.21 at the end of the previous year[24] - The net assets attributable to shareholders at the end of the reporting period were ¥1,315,122,735.55, a 2.38% increase from ¥1,284,540,089.10 at the end of the previous year[24] - Total liabilities reached ¥1,155,387,862.50, compared to ¥910,844,334.11 in the previous year, which is an increase of approximately 27%[130] - The company's total liabilities to total assets ratio is approximately 46.7% as of June 30, 2020, compared to 41.5% at the end of 2019, indicating a higher leverage position[130] Cash Flow and Investments - The company maintained a strong cash position with cash and cash equivalents of ¥376,547,644.09, a 47.07% increase from ¥256,026,386.10[56] - The company reported a significant increase in investment income, which rose by 86.86% to ¥3,417,569.46 from ¥1,828,986.10[49] - Cash inflow from investment activities totaled ¥248,418,179.26, significantly higher than ¥106,988,986.10 in the previous year, marking an increase of about 132%[158] - The net cash flow from financing activities was -¥23,490,000.00, an improvement from -¥31,320,000.00 year-over-year, reflecting a reduction in cash outflow by about 25%[156] Research and Development - Research and development expenses increased slightly by 1.80% to ¥27,128,144.98, reflecting ongoing investment in product innovation[49] - The company holds 233 patents and collaborates with domestic research institutions for technology development, positioning itself as a leader in CNC machine tool R&D[43] - The company has achieved breakthroughs in the CNC gantry machining center sector, enhancing its product portfolio[41] Market Position and Strategy - The company has established a strong customer base across various industries, including aerospace and rail transportation, enhancing its market presence[42] - The company focuses on high-end CNC machine tools, aiming for import substitution and competitive positioning in the industry[33] - The overall machine tool industry is showing signs of recovery post-COVID-19, with improving operational conditions[40] - The company is actively pursuing international market opportunities despite ongoing challenges from the pandemic, aiming to increase market share in key regions[47] Risks and Challenges - The company faces risks from economic cycles affecting the machine tool industry, which is influenced by fixed asset investment trends[73] - The ongoing COVID-19 pandemic poses a risk of deteriorating operating conditions and reduced market demand across various industries[74] - The company is exposed to competition risks from both domestic and international high-end CNC machine tool manufacturers[73] Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 15,928[117] - The largest shareholder, Ningbo Haitian Co., Ltd., holds 201,986,000 shares, accounting for 38.69% of total shares[117] - The second largest shareholder, Anxin Asia (Hong Kong) Limited, holds 194,074,000 shares, representing 37.18% of total shares[117] Environmental and Regulatory Compliance - The company has established a wastewater treatment station, ensuring that wastewater discharge meets the required standards[108] - The company has implemented effective noise control measures, meeting the emission standards[108] - The company is classified as a key regulatory unit for soil environmental pollution by the Ningbo Environmental Protection Department[104] Corporate Governance - The company has not reported any significant changes in accounting policies or prior period adjustments during this reporting period[189] - The company has not disclosed any plans for new products, technologies, market expansion, or mergers and acquisitions in this report[21] - The company will not engage in any business activities that compete with the issuer or its subsidiaries[84]

Financial Performance - Operating revenue for the first quarter reached CNY 270,267,526.81, an increase of 8.11% year-on-year[11] - Net profit attributable to shareholders was CNY 11,521,600.15, reflecting a growth of 6.67% compared to the same period last year[11] - Basic and diluted earnings per share rose by 6.76% to CNY 0.0221[11] - The total comprehensive income for the first quarter of 2020 was CNY 16,283,199.90, compared to CNY 18,163,778.33 in the first quarter of 2019, reflecting a decrease[63] - Net profit for Q1 2020 reached $11.52 million, a 6.6% increase from $10.80 million in Q1 2019[58] - Basic earnings per share for Q1 2020 were $0.0221, compared to $0.0207 in Q1 2019, reflecting a growth of 6.8%[58] Cash Flow - Net cash flow from operating activities surged by 221.74% to CNY 4,838,256.57 compared to the previous year[11] - Operating cash flow net increased by 221.74% to 4,838,256.57 from 1,503,784.12, primarily due to reduced cash payments related to operating activities[21] - Cash inflow from investment activities totaled CNY 162,386,908.35, a substantial increase from CNY 51,252,708.33 in the first quarter of 2019, driven by higher cash recovered from investments[68] - The net cash flow from investment activities was CNY 46,779,679.26, recovering from a negative cash flow of CNY -57,124,020.36 in the previous year, showcasing a turnaround in investment performance[66] - The cash and cash equivalents at the end of the period increased to CNY 298,794,868.20, up from CNY 152,895,052.58 at the end of the first quarter of 2019, indicating strong liquidity[68] Assets and Liabilities - Total assets increased by 3.47% to CNY 2,271,564,175.74 compared to the end of the previous year[11] - Total liabilities increased to ¥974,914,383.74 from ¥910,844,334.11, representing a growth of approximately 7.5%[46] - Current assets totaled ¥1,585,990,862.17, up from ¥1,503,161,411.66, indicating an increase of about 5.5%[50] - The total assets amounted to ¥2,173,535,967.18, compared to ¥2,102,000,009.96, which is an increase of approximately 3.4%[52] - The total equity attributable to shareholders reached ¥1,296,649,792.00, up from ¥1,284,540,089.10, marking an increase of about 0.9%[46] Shareholder Information - The total number of shareholders at the end of the reporting period was 17,046[18] - The top shareholder, Ningbo Haitian Co., Ltd., held 201,986,000 shares, accounting for 38.69% of the total[18] Expenses and Income - Sales expenses increased by 66.84% to 25,172,261.14 from 15,087,946.16, driven by higher sales service fees[30] - Investment income rose by 90.48% to 2,386,208.35 from 1,252,708.33, attributed to increased returns from financial investments[31] - Tax expenses for Q1 2020 were $2.07 million, down from $3.40 million in Q1 2019, indicating a decrease of 39.0%[58] - Research and development expenses for Q1 2020 were $13.18 million, slightly down from $13.26 million in Q1 2019[56] Government Subsidies - The company received government subsidies amounting to CNY 2,412,551.19, which are closely related to its normal business operations[13] Inventory and Receivables - Accounts receivable rose by 70.04% to 142,498,909.63 from 83,802,829.90, attributed to increased sales and longer collection periods for overseas sales[22] - Inventory increased to ¥601,348,360.03 from ¥560,754,926.02, showing a growth of around 7.3%[50] Comprehensive Income - Other comprehensive income after tax increased by 250.33% to 229,856.74 from -152,901.67, mainly due to exchange rate fluctuations affecting foreign currency translation differences[35]

Financial Performance - The company's operating revenue for 2019 was approximately CNY 1.16 billion, a decrease of 8.46% compared to 2018 [26]. - Net profit attributable to shareholders was approximately CNY 76.72 million, down 24.42% from the previous year [26]. - The net profit after deducting non-recurring gains and losses was approximately CNY 50.71 million, a decline of 40.93% year-over-year [26]. - The net cash flow from operating activities was approximately CNY 218.16 million, down 39.31% compared to 2018 [26]. - The company's total assets increased by 3.16% year-over-year, reaching approximately CNY 2.20 billion by the end of 2019 [26]. - Basic earnings per share were CNY 0.15, a decrease of 21.05% from 2018 [26]. - The weighted average return on equity was 6.11%, down 2.38 percentage points from the previous year [26]. - The company reported a revenue of 1,164.73 million RMB, a decrease of 8.46% compared to the previous year [68]. - Operating costs amounted to 906.93 million RMB, down 6.30% year-over-year, primarily due to reduced sales orders [62]. - Research and development expenses increased by 9.88% to 61.34 million RMB, attributed to higher salaries and material costs for R&D personnel [62]. - The company reported a significant increase of 267.01% in other current assets, totaling ¥198,297,581.76, due to investments in financial products [96]. Dividend Policy - The company plans to distribute a cash dividend of 0.45 RMB per 10 shares, totaling 23,490,000 RMB based on a total share capital of 522,000,000 shares [6]. - For 2019, the company distributed cash dividends of 0.45 RMB per 10 shares, totaling 23,490,000 RMB, which represents 30.62% of the net profit attributable to ordinary shareholders [136]. - The company has a cash dividend policy that mandates a minimum of 33% of distributable profits to be distributed as cash dividends each year [130]. Audit and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants [5]. - The company’s financial report is guaranteed to be true, accurate, and complete by its management [5]. - The company has appointed Lixin Certified Public Accountants as its auditing firm [24]. - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties [7]. - The company has not violated any regulatory decision-making procedures in providing guarantees [7]. - The company has not faced any risks of suspension or termination of its listing during the reporting period [170]. - The company has maintained a good integrity status, with no significant debts or court judgments unfulfilled during the reporting period [172]. Risks and Challenges - The company has outlined various risks and countermeasures in its operational report, emphasizing the importance of investor awareness regarding potential investment risks [7]. - The company faces risks from economic cycles affecting the machine tool industry, which is heavily influenced by fixed asset investments in downstream sectors [120]. - The machine tool industry is experiencing a significant decline in profitability, with the overall profit of the industry decreasing year-on-year, particularly in the metal cutting machine sector [113]. - The metal cutting machine tool industry saw a 30.4% decline in new orders in 2019, reflecting the overall market downturn [57]. Market and Sales - The company focuses on high-end CNC machine tools, including customized designs and large-scale production [39]. - The sales model combines direct sales and distribution through numerous sales service providers [43]. - The company established sales subsidiaries in Vietnam and India, with overseas sales revenue increasing by 45.29% year-on-year [58]. - Domestic revenue fell by 11.85%, while overseas revenue increased by 45.29%, indicating successful international market expansion [74]. - The consumption of metal processing machine tools in China was USD 22.31 billion in 2019, a year-on-year decrease of 23.5% [46]. - The consumption of metal cutting machine tools was USD 14.16 billion, down 21.8% year-on-year [46]. Research and Development - The company developed 7 new product varieties in 2019, which will be launched in batches to enhance scale efficiency [58]. - The company holds 264 patents and collaborates with domestic research institutions for technology development, positioning itself as a leading enterprise in CNC machine tool R&D [52]. - The company aims to increase R&D investment and adjust product planning to align with market demands, aiming to strengthen its technological advantages [114]. - The company aims to increase R&D efforts for cost-effective products in the electric vehicle and 5G communication sectors, focusing on differentiation, automation, and intelligence [117]. - The company has 254 R&D personnel, accounting for 18.17% of total employees [91]. Corporate Governance - The actual controller and shareholders committed to not transferring or entrusting their shares for 36 months from the date of the company's stock listing [140]. - Shareholders and senior management committed to not reducing their holdings below the issuance price for two years after the lock-up period expires [140]. - The company has a long-term commitment to not engage in any competitive business activities with its subsidiaries [146]. - The company will not manipulate or instruct the issuer due to its controlling position [147]. - The company committed to stabilize its stock price if it falls below the latest audited net asset value for 20 consecutive trading days, with a plan to increase shareholding within 15 trading days [152]. - The company’s actual controllers and senior management are required to invest a minimum of RMB 1 million in shareholding to stabilize the stock price [155]. Environmental Compliance - The company reported no exceedance of discharge standards for wastewater and air pollutants [199]. - The company is classified as a key regulatory unit for soil environmental pollution in Ningbo City [198]. - The company has a total of 2 discharge points for wastewater with a COD concentration of 245 mg/L [199].

Financial Performance - Net profit attributable to shareholders was ¥51,569,935.22, representing a decrease of 37.06% year-on-year[11]. - Operating revenue for the period was ¥822,490,862.93, down 18.49% from the same period last year[11]. - Basic earnings per share decreased to ¥0.0988, down 37.07% from ¥0.157 in the same period last year[14]. - The weighted average return on net assets was 4.14%, a decrease of 2.76 percentage points compared to the previous year[14]. - The net profit after deducting non-recurring gains and losses was ¥33,308,369.98, down 52.31% year-on-year[11]. - Total operating revenue for Q3 2019 was ¥305,109,957.45, a decrease of 10.0% compared to ¥338,959,068.84 in Q3 2018[48]. - Net profit attributable to shareholders for Q3 2019 was ¥16,347,313.74, a decrease of 44.4% from ¥29,421,912.08 in Q3 2018[55]. - The company reported a total comprehensive income of ¥18,657,439.20 for Q3 2019, compared to ¥34,769,081.19 in Q3 2018[52]. Cash Flow - Net cash flow from operating activities was ¥187,231,550.93, a decline of 31.06% compared to the previous year[11]. - Net cash flow from operating activities decreased by 31.06% from CNY 271,576,666.71 to CNY 187,231,550.93 primarily due to reduced sales receipts[29]. - The company's cash inflow from operating activities for the first three quarters of 2019 was CNY 1,021,698,786.13, a decrease of 21.9% compared to CNY 1,306,832,556.97 in the same period of 2018[66]. - The net cash flow from financing activities improved by 75.26% from -CNY 126,595,698.09 to -CNY 31,320,000.00 as the company did not incur new borrowings during the period[29]. - The net cash flow from investing activities in Q3 2019 was -CNY 222,755,547.45, compared to -CNY 160,221,382.92 in Q3 2018, indicating a worsening of 38.9%[73]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥2,157,076,705.02, an increase of 1.36% compared to the end of the previous year[11]. - Current assets increased by 219.84% from CNY 54,030,695.75 to CNY 172,809,311.10 as the company utilized idle funds to purchase financial products[24]. - Total current liabilities increased slightly to ¥805,201,144.80 from ¥793,246,581.14, reflecting a growth of approximately 1.2%[39]. - Total liabilities decreased slightly to ¥845,571,611.53 from ¥848,574,987.25, a reduction of about 0.4%[46]. - The total equity attributable to shareholders rose to ¥1,259,356,171.70 from ¥1,238,484,911.42, an increase of about 1.0%[39]. Shareholder Information - The total number of shareholders at the end of the reporting period was 18,287[20]. - The top shareholder, Ningbo Haitian Co., Ltd., held 201,986,000 shares, accounting for 38.69% of total shares[20]. Research and Development - Research and development expenses increased to ¥18,460,004.08 in Q3 2019, up 74.5% from ¥10,580,650.29 in Q3 2018[48]. - The company plans to continue focusing on R&D to drive future growth, as indicated by the increase in R&D expenses[48]. - The company plans to continue investing in R&D to enhance product offerings and market competitiveness[61]. Government Support - The company received government subsidies amounting to ¥21,123,728.52 during the reporting period[12]. Other Financial Metrics - Other comprehensive income increased by 156.29% from CNY 188,421.10 to CNY 482,912.83 due to exchange rate fluctuations affecting foreign currency translation differences[24]. - Financial expenses decreased significantly by 568.33% from CNY 1,030,549.40 to -CNY 4,826,325.81 as the company repaid initial borrowings and experienced increased exchange gains[24].