Financial Performance - The company's operating revenue for Q3 2022 was CNY 297,110,324.67, representing a year-on-year increase of 29.95%[5] - The net profit attributable to shareholders for Q3 2022 was CNY 11,365,346.31, with a year-on-year increase of 4.59%[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 16,432,803.04, showing a significant increase of 187.67% compared to the same period last year[5] - The company reported a 70.26% increase in operating revenue for the year-to-date period, primarily driven by the addition of new liquor equipment business[10] - The net profit attributable to shareholders after deducting non-recurring gains and losses for the year-to-date period decreased by 10.39%[5] - Net profit for Q3 2022 was 49,499,570.72 CNY, a decrease of 26% compared to 66,932,939.59 CNY in Q3 2021[21] - Operating profit for Q3 2022 was 43,829,793.14 CNY, down 45% from 80,444,588.64 CNY in the same period last year[24] - Total revenue from operating activities for the first nine months of 2022 reached 1,057,227,365.30 CNY, a 39.4% increase from 758,277,725.06 CNY in the same period of 2021[23] - Total comprehensive income attributable to the parent company was 60,166,739.18 CNY in Q3 2022, compared to 64,928,281.98 CNY in Q3 2021[22] - The basic and diluted earnings per share for Q3 2022 were both 0.43 CNY, down from 0.69 CNY in Q3 2021[22] Assets and Liabilities - The total assets at the end of Q3 2022 reached CNY 3,331,644,636.53, an increase of 19.07% from the end of the previous year[6] - Cash and cash equivalents as of September 30, 2022, were RMB 620,598,233.03, up from RMB 563,217,277.34 at the end of 2021[16] - Accounts receivable increased to RMB 480,003,329.95 as of September 30, 2022, compared to RMB 171,371,561.94 at the end of 2021, reflecting a growth of approximately 180%[16] - Inventory as of September 30, 2022, was RMB 1,095,802,372.33, slightly down from RMB 1,099,801,015.62 at the end of 2021[17] - Total assets as of September 30, 2022, were RMB 3,331,644,636.53, compared to RMB 2,798,130,689.07 at the end of 2021, marking an increase of about 19%[18] - Total liabilities as of September 30, 2022, amounted to RMB 1,968,809,200.38, up from RMB 1,507,113,075.45 at the end of 2021, indicating an increase of approximately 31%[18] - The company's equity attributable to shareholders as of September 30, 2022, was RMB 1,341,528,245.28, compared to RMB 1,291,017,613.62 at the end of 2021, reflecting a growth of about 4%[18] Cash Flow - The cash flow from operating activities for the year-to-date period was CNY -117,448,992.48, reflecting a decrease of 63.49% compared to the same period last year[6] - Cash flow from operating activities showed a net outflow of -117,448,992.48 CNY in Q3 2022, an improvement from -321,661,368.98 CNY in Q3 2021[24] - Investment activities generated a net cash outflow of -22,623,165.23 CNY in Q3 2022, compared to a net inflow of 37,137,783.91 CNY in Q3 2021[24] - Financing activities resulted in a net cash inflow of 193,796,119.13 CNY in Q3 2022, down from 689,147,588.76 CNY in Q3 2021[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,278[11] - The basic earnings per share for the year-to-date period was CNY 0.09, a decrease of 37.68% due to an increase in the weighted average share capital[6] Research and Development - Research and development expenses increased to 40,523,531.16 CNY in Q3 2022, up 37.4% from 29,502,348.30 CNY in Q3 2021[24] Accounting Standards - The company has implemented new accounting standards starting from 2022, affecting the financial statements from the beginning of the year[25]

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion CNY for the first half of 2022, representing a year-on-year growth of 15%[13] - The company's operating revenue for the first half of the year reached 945.70 million RMB, an increase of 88.64% compared to the same period last year[24] - Net profit for the period was 40.82 million RMB, a decrease of 27.20% year-on-year, primarily due to losses in the craft beer segment and increased costs related to overseas projects[22] - The company's revenue for the reporting period reached CNY 945.70 million, an increase of CNY 444.39 million, representing a growth rate of 88.64% year-on-year[33] - The net profit for the period was CNY 40.81 million, a decrease of CNY 15.25 million, primarily due to losses in the craft beer segment and increased costs from overseas shipping[33] - The total profit for the first half of 2022 was ¥45.84 million, a decrease of 33.8% from ¥69.34 million in the same period of 2021[109] Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, with plans to establish two new distribution centers by the end of 2022[13] - A strategic acquisition of a local competitor is in progress, which is anticipated to increase market share by 5%[13] - The company is expanding its craft beer business by establishing fresh beer plants in regions with developed craft beer industries, leveraging 30 years of industry experience[28] - The company has established the "Fresh Beer 30 Kilometers" brand, aiming to become the leading fresh beer brand in China, supported by a strategic partnership with a well-known branding consultancy[32] - The company has implemented a "Hundred Cities, Hundred Factories" strategy to enhance its craft beer production capabilities, leveraging its existing technology and supply chain advantages[32] Research and Development - The company has invested 100 million CNY in R&D for innovative brewing technologies aimed at improving product quality[13] - The company has invested significantly in R&D, maintaining a technological advantage in liquid food equipment manufacturing[29] - Research and development expenses increased to ¥18.15 million, representing a 23.8% rise from ¥14.66 million in the previous year[108] Financial Position and Assets - The company had a total order backlog of 2.074 billion RMB, reflecting a year-on-year growth of 15.67%[24] - The company's net assets attributable to shareholders increased by 3.11% year-on-year, reaching approximately 1.33 billion RMB[24] - The company's cash and cash equivalents decreased by 31.97% to ¥383,142,347.91, down from ¥563,217,277.34 in the previous year[45] - Accounts receivable increased by 178.07% to ¥476,524,763.01, compared to ¥171,371,561.94 last year, attributed to large order acceptance[45] - The company's total assets at the end of the period amount to 1,324,355,417.85 CNY, indicating a stable asset base[134] Operational Efficiency - New product development includes the launch of a state-of-the-art packaging machine, expected to enhance production efficiency by 30%[13] - The company has implemented cost-cutting measures that are expected to reduce operational expenses by 8% in the next quarter[13] - The company is focusing on digital upgrades and lean production improvements to enhance cost advantages and operational efficiency[34] Risks and Challenges - Management has highlighted potential risks, including supply chain disruptions, which could impact future performance[13] - The company faces risks related to the ongoing COVID-19 pandemic, which may impact overseas project progress and domestic production[51] - The company reported a credit impairment loss of ¥17.12 million, significantly higher than the loss of ¥5.61 million in the first half of 2021[109] Environmental Management - The company is actively responding to environmental management and has improved industrial waste classification and environmental compliance procedures[69] - The company has established two wastewater treatment stations with a design capacity of 100m³/d (36,500m³/a), which meets the production cleaning wastewater discharge capacity of 14,339.5m³/a[72] - The company has implemented low-nitrogen combustion technology for waste gas treatment, ensuring compliance with emission standards[72] Shareholder and Equity Information - The company has committed to a cash dividend policy, distributing no less than 30% of the cumulative distributable profits over the next three years if there are no major investment plans or cash expenditures[77] - The company will not conduct any share buybacks or sales within 12 months following the lock-up period, and any sales thereafter will be limited to 25% of the total shares held[76] - The company reported a profit distribution of CNY -9,656,107.52, indicating a loss allocation to shareholders[129] Accounting and Financial Reporting - The company’s financial statements comply with the requirements of the accounting standards, reflecting its financial position and operating results accurately[148] - The consolidated financial statements include the company and its subsidiaries, determined based on control[155] - The company recognizes foreign currency translation differences in equity, with specific treatments for cash flow statements and income statements[163]

Financial Performance - The company's operating revenue for Q1 2022 was CNY 311,150,447.76, representing a year-on-year increase of 41.00%[4] - Net profit attributable to shareholders decreased by 49.94% to CNY 18,718,706.40, primarily due to rising raw material and shipping costs, as well as increased overseas construction expenses[4][6] - The net profit after deducting non-recurring gains and losses fell by 68.82% to CNY 10,260,201.16, influenced by similar cost pressures and increased marketing investments in the craft beer segment[4][6] - The basic and diluted earnings per share decreased by 60.47% to CNY 0.17 per share, reflecting the decline in net profit[4][6] - Operating profit decreased to ¥19,485,092.18, down 56.5% from ¥44,722,679.32 in the previous year[18] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,065,786,425.95, an increase of 9.57% from the end of the previous year[5] - The company's total assets amounted to RMB 3,065,786,425.95, an increase from RMB 2,798,130,689.07 at the end of 2021, reflecting a growth of approximately 9.6%[14] - The total liabilities of the company reached RMB 1,751,543,998.77, up from RMB 1,507,113,075.45, which is an increase of approximately 16.2%[16] - The company's non-current assets totaled RMB 475,238,560.37, down from RMB 508,919,285.26, representing a decrease of about 6.7%[15] Shareholder Equity - Shareholder equity attributable to shareholders increased by 1.56% to CNY 1,311,123,614.61[5] - The company's equity attributable to shareholders increased to RMB 1,311,123,614.61 from RMB 1,291,017,613.62, reflecting a growth of about 1.6%[16] - The company's total equity as of March 31, 2022, was RMB 1,314,242,427.18, compared to RMB 1,291,017,613.62 at the end of 2021, showing an increase of approximately 1.8%[16] Cash Flow - The company reported a net cash flow from operating activities of -CNY 68,610,944.00, indicating cash outflows during the quarter[4] - Cash inflow from operating activities totaled ¥648,707,214.22, significantly higher than ¥175,570,239.20 in Q1 2021[20] - Cash outflow from operating activities was ¥717,318,158.22, compared to ¥244,613,472.48 in the same period last year[20] - The net cash flow from operating activities was -¥68,610,944.00, slightly improved from -¥69,043,233.28 in Q1 2021[20] - Cash inflow from investment activities totaled $103,743,128.06, compared to $42,946,856.74 in the previous year, representing an increase of approximately 142%[21] - Cash outflow for investment activities was $165,516,977.26, up from $97,500,927.79, indicating a year-over-year increase of about 69.9%[21] - Net cash flow from investment activities was -$61,773,849.20, compared to -$54,554,071.05, reflecting a decline of approximately 13.3%[21] - Cash inflow from financing activities amounted to $289,227,250.00, a decrease from $579,943,232.64, representing a decline of about 50%[21] - Net cash flow from financing activities was $9,018,776.08, down from $472,895,367.14, indicating a significant decrease of approximately 98.1%[21] - The net increase in cash and cash equivalents was -$121,548,762.84, contrasting with an increase of $348,196,835.28 in the previous year[21] - The ending balance of cash and cash equivalents was $428,693,184.04, down from $550,411,259.95, reflecting a decrease of about 22.1%[21] Other Financial Metrics - The weighted average return on equity was 1.42%, down by 2.28 percentage points compared to the previous year, due to reduced net profit[4][7] - Research and development expenses increased to ¥7,827,701.68, up 33.5% from ¥5,859,537.37 in Q1 2021[17] - Other comprehensive income after tax attributable to the parent company was ¥1,387,294.59, recovering from a loss of -¥1,790,463.50 in the previous year[18] - The company was ordered to pay EUR 5,453,105.77 plus interest to the respondent as per the final arbitration ruling received on April 8, 2022[11]

Financial Performance - The company's operating revenue for 2021 was CNY 989,369,934.10, representing a 16.10% increase compared to CNY 852,148,606.43 in 2020[20]. - The net profit attributable to shareholders of the listed company decreased by 56.23% to CNY 46,254,656.23 from CNY 105,674,118.60 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 45,606,244.73, down 45.85% from CNY 84,220,735.90 in 2020[20]. - The company's basic earnings per share decreased by 68.31% to CNY 0.45 in 2021 compared to CNY 1.42 in 2020[21]. - Net profit for 2021 declined by CNY 59.42 million, primarily due to a court ruling requiring a payment of EUR 5.45 million, impacting net profit by CNY 31.14 million[22]. - Operating profit for 2021 was ¥72,204,966.52, down 36.5% from ¥113,577,257.09 in 2020[199]. - The company reported a total comprehensive income of ¥46,254,656.23 for 2021, compared to ¥99,647,942.89 in 2020, a decrease of 53.6%[200]. Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 252,701,140.11, a decrease of 254.74% compared to a positive CNY 163,308,432.90 in 2020[20]. - Operating cash flow showed a net outflow of CNY 253 million, with significant cash outflows from the craft beer segment, which reported a net loss of CNY 18.82 million[22]. - The company maintains a healthy asset-liability structure with ample liquidity despite the operational cash outflows[23]. Assets and Liabilities - The total assets at the end of 2021 were CNY 2,798,130,689.07, an increase of 54.11% from CNY 1,815,703,121.35 at the end of 2020[20]. - The net assets attributable to shareholders increased by 50.69% to CNY 1,291,017,613.62 from CNY 856,734,656.19 in 2020[20]. - Total liabilities reached ¥1,507,113,075.45 in 2021, compared to ¥958,968,465.16 in 2020, an increase of approximately 57.3%[193]. - Owner's equity increased to ¥1,291,017,613.62 in 2021 from ¥856,734,656.19 in 2020, representing a growth of about 50.8%[193]. Revenue Segments - The equipment segment generated revenue of 978.71 million yuan, a year-on-year increase of 15.89%, with revenue from brewing equipment accounting for 67.93% of the segment's total[32]. - The craft beer segment generated sales revenue of 7.45 million yuan, with a net loss of 18.82 million yuan, primarily due to high management and sales expenses[36]. - The equipment segment's order backlog increased by 39.34% year-on-year, indicating strong demand and production capacity improvements following the commissioning of the Xiangshan Port Phase I plant[22]. Research and Development - The company’s R&D expenses were 38.30 million RMB, a slight increase of 4.05% from the previous year[45]. - The total R&D expenditure was 38,298,667.76, which constituted 3.87% of the operating revenue[55]. - Research and development expenses for 2021 were ¥38,298,667.76, slightly up from ¥36,807,443.91 in 2020, indicating a focus on innovation[198]. Strategic Initiatives - The company plans to enhance production efficiency by increasing the proportion of outsourced components, which has led to higher upfront capital investments[23]. - The company is actively exploring new business opportunities in the dairy filling and renewable energy sectors, establishing a research institute in Nanjing focused on advanced sterile filling technology[34]. - The company aims to expand its beer equipment sales and services network in Africa, Asia, and Latin America, enhancing its market share in the beer equipment industry[69]. Shareholder and Governance - The company plans to distribute a cash dividend of CNY 0.80 per 10 shares, totaling CNY 9,656,107.52[5]. - The company has established a shareholder return plan for 2020-2022, emphasizing cash dividends and profit distribution strategies[122]. - The company has a salary policy that links employee compensation to performance and company profitability, ensuring alignment with economic growth[120]. Environmental Compliance - The company has implemented a comprehensive environmental management system, ensuring compliance with pollution prevention and control measures throughout its operations[130]. - The company reported no environmental violations or penalties during the reporting period, adhering strictly to national environmental laws and regulations[133]. Market Outlook and Risks - The company anticipates risks related to rising raw material prices, which could adversely affect cost control despite proactive measures[77]. - The company expects to face ongoing impacts from the COVID-19 pandemic, particularly affecting overseas orders and project progress[74]. - Future guidance indicates a projected revenue growth of 20% for the next fiscal year, driven by market expansion strategies[99].

证券代码：603076 证券简称：乐惠国际 公告编号：2021-066 宁波乐惠国际工程装备股份有限公司 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。 该活动于 2021 年 11 月 18 日下午 15:00-17:00 举行，平台登录地址为： https://rs.p5w.net/ 。届时，公司高管人员将参加本次活动，通过网络在线文字互 动交流形式，就公司治理、经营状况、可持续发展等投资者所关心的问题，与投 资者进行沟通与交流。 欢迎广大投资者积极参与！ 特此公告。 宁波乐惠国际工程装备股份有限公司 董事会 二〇二一年十一月十二日 ...

Financial Performance - The company's operating revenue for Q3 2021 was ¥228,637,158.06, representing a year-on-year increase of 4.71%[5] - The net profit attributable to shareholders decreased by 49.65% to ¥10,866,809.54 compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was ¥5,712,401.31, down 33.52% year-on-year[5] - The total operating costs for the first three quarters of 2021 were CNY 656,994,595.48, compared to CNY 572,899,960.48 in 2020, reflecting an increase of approximately 14.7%[26] - The company's net profit for the first three quarters of 2021 was CNY 80,444,588.64, slightly down from CNY 81,933,369.04 in the previous year, showing a decrease of about 1.8%[26] - The total comprehensive income for Q3 2021 was approximately ¥64.93 million, down from ¥71.53 million in Q3 2020, a decrease of about 9.5%[28] Assets and Liabilities - The total assets at the end of the reporting period reached ¥2,660,368,880.93, an increase of 46.52% compared to the end of the previous year[6] - As of September 30, 2021, the company's total assets reached CNY 2,660,368,880.93, a significant increase from CNY 1,815,703,121.35 at the end of 2020, representing a growth of approximately 46.5%[20] - The company's total liabilities as of September 30, 2021, were CNY 1,347,428,466.90, up from CNY 958,968,465.16 at the end of 2020, indicating an increase of about 40.5%[22] - The equity attributable to shareholders as of September 30, 2021, was CNY 1,312,940,414.03, a significant increase from CNY 856,734,656.19 at the end of 2020, representing a growth of approximately 53.2%[22] Cash Flow - Cash flow from operating activities was reported at ¥321,661,368.98 for the year-to-date[6] - The company reported a net cash outflow from operating activities of -165.48%, attributed to increased procurement expenditures for major projects[10] - The net cash flow from operating activities for the first three quarters of 2021 was negative at approximately -¥321.66 million, contrasting with a positive cash flow of ¥169.55 million in the same period of 2020[30] - The company incurred operating cash outflows totaling approximately ¥1.12 billion in Q3 2021, compared to ¥662.74 million in Q3 2020[30] Earnings Per Share - The basic earnings per share decreased by 68.97% to ¥0.09[6] - The basic and diluted earnings per share for Q3 2021 were both ¥0.69, compared to ¥1.04 in Q3 2020, reflecting a decline of approximately 33.7%[28] Revenue Segments - The equipment segment generated revenue of RMB 225 million, with a year-on-year growth of 1.29%[15] - The equipment segment's net profit, excluding non-recurring gains and losses, was RMB 9.557 million, reflecting a year-on-year increase of 11.22%[15] New Initiatives and Ventures - The company secured new orders (including tax) of RMB 539 million in the third quarter, contributing to a total backlog of RMB 1.988 billion, a 10.87% increase from the previous quarter[15] - The company established a joint venture with Luzhou Run Da Machinery Equipment Co., Ltd., leveraging 30 years of technology and resources in the white liquor equipment sector[15] - The company launched the "Fresh Beer 30 Kilometers" brand, with the "30 Kilometers Beer Station" model entering the replication phase[16] - The company expanded its online channels by entering the JD platform in September[16] - The company successfully introduced the "Big Yellow Can" series under its own brand, receiving positive feedback from distributors and B-end customers[16] Financing Activities - The company completed a non-public offering of 11,715,246 shares, raising a net amount of RMB 404.19 million after deducting issuance costs[17] - The company reported cash inflows from financing activities of approximately ¥1.21 billion in Q3 2021, significantly higher than ¥303.85 million in Q3 2020[30] Inventory and Borrowings - The company's inventory as of September 30, 2021, was CNY 1,087,130,741.43, up from CNY 748,674,527.12 at the end of 2020, indicating an increase of about 45.2%[20] - The short-term borrowings increased to CNY 501,985,340.00 as of September 30, 2021, compared to CNY 204,618,091.71 at the end of 2020, reflecting an increase of approximately 145%[21] Research and Development - The company's research and development expenses for the first three quarters of 2021 were CNY 29,502,348.30, slightly down from CNY 31,107,744.44 in the same period of 2020, indicating a decrease of about 5.2%[26]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥501,314,286.03, representing a 16.15% increase compared to ¥431,597,349.51 in the same period last year[19]. - The net profit attributable to shareholders was ¥56,066,130.05, a slight increase of 0.58% from ¥55,741,713.26 year-on-year[19]. - The net cash flow from operating activities was -¥306,847,225.38, a significant decline of 643.23% compared to ¥56,485,328.60 in the previous year[19]. - The total assets at the end of the reporting period reached ¥2,596,360,318.34, up 42.99% from ¥1,815,703,121.35 at the end of the previous year[20]. - The net assets attributable to shareholders increased by 52.23% to ¥1,304,181,132.06 from ¥856,734,656.19 at the end of the previous year[20]. - The basic earnings per share decreased by 17.33% to ¥0.62 from ¥0.75 in the same period last year[21]. - The weighted average return on net assets decreased by 1.93 percentage points to 5.19% compared to 7.12% in the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥46,329,426.44, down 11.33% from ¥52,249,569.26 year-on-year[19]. - The company achieved operating revenue of 501.31 million yuan, an increase of 16.15% year-on-year, with overseas revenue accounting for 60.17% of total revenue[32]. - The net profit attributable to shareholders was 56.07 million yuan, while the net profit excluding non-recurring gains and losses was 46.33 million yuan[32]. Business Operations - The company experienced a significant increase in procurement expenses due to early material orders to reduce costs and ensure project execution[22]. - The equipment business revenue grew by 15.41% year-on-year, with a net profit of 55.56 million yuan, reflecting a growth of 6.34% compared to the previous year[32]. - The company signed new orders worth 807 million yuan in the equipment business, representing a year-on-year increase of 75.82%[33]. - The company’s gross margin decreased by 0.79 percentage points due to rising costs of raw materials, particularly stainless steel, which increased operating costs by 17.46% to 354.48 million yuan[32]. - The second main business, craft brewing, incurred a loss of 9.24 million yuan as it is still in the early investment phase[32]. - The company has established a national distributed supply chain platform for craft beer, leveraging 30 years of industry experience[28]. - The company is expanding into new fields such as white liquor and renewable energy equipment, successfully capturing domestic market share[30]. - The company’s international sales and service network covers emerging markets in Africa, Latin America, and Asia, enhancing its competitiveness[29]. - The company’s total orders on hand reached 1.793 billion yuan, an increase of 25.56% year-on-year, indicating strong future growth potential[33]. Financial Position - The company’s cash and cash equivalents increased by 169.81% to RMB 561.25 million from RMB 208.02 million year-on-year, primarily due to funds raised from a private placement[40]. - The company’s inventory rose by 29.80% to RMB 971.75 million from RMB 748.67 million, attributed to preparations for large domestic and international projects[40]. - The company made a total external equity investment of RMB 1.58 million during the reporting period, including investments in two new companies[43]. - The company’s short-term borrowings increased by 148.65% to RMB 508.78 million from RMB 204.62 million, reflecting the need for funding for large projects[40]. - The company reported a net profit of -594.18 million CNY for Nanjing Lehuifenna, indicating a loss in the beverage packaging equipment sector[47]. - Nanjing Baolilong achieved a net profit of 1,045.65 million CNY, reflecting a strong performance in high-end beverage packaging equipment[47]. - The company faced a net loss of 494.88 million CNY from Ningbo Craft Valley Technology, highlighting challenges in the brewing technology services sector[47]. - The company's accounts receivable amounted to 186.01 million CNY, representing 8.55% of current assets, indicating potential liquidity risks[50]. - Inventory value stood at 971.75 million CNY, accounting for 44.67% of current assets, which may pose risks related to inventory management[50]. - The company experienced a net foreign exchange loss of 584.9 thousand CNY during the reporting period, indicating exposure to currency fluctuations[51]. Environmental and Social Responsibility - The company is not classified as a key pollutant discharge unit but adheres to environmental protection throughout its operations[59]. - The company has established two wastewater treatment plants and multiple pollution control facilities, all operating normally[60]. - The company conducts regular environmental monitoring, with all results meeting compliance standards[61]. - There were no environmental violations or illegal activities reported during the reporting period[61]. - The company has completed emergency response plan registration for environmental incidents[60]. - The company has obtained all necessary environmental permits related to its construction projects[60]. - The company has implemented measures to manage industrial waste, including recycling and proper disposal[60]. Shareholder and Capital Management - The company has committed to a cash dividend policy, distributing no less than 30% of the cumulative distributable profits over three years if there are no major investment plans or cash expenditures[65]. - The company has made a commitment to not conduct any share buybacks or sales for 12 months following the disclosure of the simplified equity change report[64]. - The company is involved in a significant arbitration case, claiming €9.5 million plus interest from the original shareholders of Finnah, while facing a counterclaim of €4.62375 million plus interest[68]. - The company plans to maintain a profit distribution not exceeding the cumulative distributable profits, ensuring shareholder interests are prioritized[65]. - The company has established a commitment to ensure that any dilution of immediate returns will be addressed through specific measures, including not transferring benefits unfairly to other entities[66]. - The company has reported no significant litigation or arbitration matters during the reporting period, indicating a stable legal environment[69]. - The company has outlined its strategy for daily related party transactions, which was approved in the board meetings and is expected to continue without significant changes[70]. - The company has a lock-up period for shareholders, allowing a maximum of 25% of shares to be sold after the lock-up period ends[64]. - The company has committed to transparency in its financial practices, ensuring that any failure to meet commitments will be publicly explained and apologized for[66]. - The company has reported no non-operational fund occupation by major shareholders during the reporting period, indicating sound financial management[67]. Future Outlook and Strategy - The company plans to expand its production capacity with the Ningbo Damu Bay factory expected to commence operations by the end of September 2021[34]. - The company plans to accelerate investments in the craft brewing business following the launch of the Shanghai She Mountain factory, leveraging its expertise in brewing equipment manufacturing[49]. - The company’s future outlook includes plans for market expansion and potential mergers and acquisitions[82]. - The company is focused on developing new products and technologies to enhance its market position[82]. - The company aims to improve shareholder value through strategic financial maneuvers and capital management[82]. - The company is focused on strategic initiatives to improve operational efficiency and drive growth in the upcoming quarters[144]. Accounting and Financial Reporting - The company's financial statements are prepared on a going concern basis, indicating ongoing operational viability[157]. - The financial statements prepared by the company comply with the requirements of the enterprise accounting standards, accurately reflecting its financial position, operating results, changes in shareholders' equity, and cash flows[160]. - The company's accounting period runs from January 1 to June 30 each year, with a business cycle defined as 12 months[161][162]. - The company's accounting currency is Renminbi (RMB)[163]. - The company has established specific accounting policies and estimates tailored to its operational characteristics, including provisions for bad debts and inventory measurement[159].

Financial Performance - Operating revenue for the period was CNY 220,670,530.66, reflecting a 5.2% increase from the same period last year[5] - Net profit attributable to shareholders decreased by 1.84% to CNY 37,393,872.00 compared to the previous year[5] - Basic earnings per share were CNY 0.43, down 2.27% from CNY 0.44 in the same period last year[7] - The company reported a total equity of CNY 1,296,528,847.84, up from CNY 856,734,656.19, reflecting an increase of approximately 51.5%[21] - Total revenue for Q1 2021 was CNY 220,670,530.66, an increase of 5.0% compared to CNY 209,754,803.50 in Q1 2020[25] - Net profit for Q1 2021 was CNY 37,393,872.00, a decrease of 1.8% from CNY 38,094,889.97 in Q1 2020[26] - The total comprehensive income for Q1 2021 was CNY 45,142,862.69, reflecting a strong performance compared to CNY 30,379,837.92 in the previous year[31] Assets and Liabilities - Total assets increased by 30.34% to CNY 2,366,549,287.34 compared to the end of the previous year[5] - Total current assets increased to CNY 1,970,403,423.84 as of March 31, 2021, up from CNY 1,449,076,844.96 on December 31, 2020, representing a growth of approximately 36%[19] - Total liabilities reached CNY 1,070,020,439.50, up from CNY 958,968,465.16, indicating an increase of about 11.6%[20] - Total assets amounted to CNY 2,366,549,287.34, compared to CNY 1,815,703,121.35, showing a growth of approximately 30.4%[21] - Total liabilities rose to CNY 850,608,245.89 in Q1 2021, compared to CNY 729,085,696.03 in Q1 2020, marking an increase of 16.6%[24] Cash Flow - The company reported a net cash flow from operating activities of -CNY 69,043,233.28, which is not comparable to the previous year due to a positive cash flow of CNY 86,400,137.21[5] - The net cash flow from operating activities was -¥69,043,233.28, a significant decrease compared to ¥86,400,137.21 in the previous period[14] - Cash flow from operating activities showed a net outflow of CNY 69,043,233.28, contrasting with a net inflow of CNY 86,400,137.21 in Q1 2020[33] - The net cash flow from financing activities was ¥472,895,367.14, significantly improved from -¥27,736,851.51 in the previous period, due to targeted issuance and increased short-term borrowings[14] - Investment activities resulted in a net cash outflow of CNY 54,554,071.05, an improvement from a net outflow of CNY 137,839,192.88 in Q1 2020[33] Shareholder Information - The total number of shareholders at the end of the reporting period was 6,400[11] - The largest shareholder, Ningbo Lehui Investment Holding Co., Ltd., held 20.30% of the shares[11] Government Support and Expenses - The company received government subsidies amounting to CNY 600,000.00 related to its normal business operations[8] - Management expenses increased by 79.83% to ¥22,715,774.53, primarily due to higher salaries for management personnel and increased consulting service fees[14] Other Financial Metrics - The weighted average return on net assets decreased by 1.23 percentage points to 3.70%[7] - The company reported a 49.61% decrease in fair value changes in profit to ¥1,204,151.04, influenced by market fluctuations[14] - Research and development expenses for Q1 2021 were CNY 5,859,537.37, slightly down from CNY 5,885,115.75 in Q1 2020[25] Legal Matters - The company is currently involved in arbitration proceedings regarding a claim for €9,500,000 against former shareholders, with ongoing developments[15]

Financial Performance - The company's operating revenue for 2020 was CNY 852,148,606.43, representing a 13.05% increase from CNY 753,770,003.25 in 2019[21]. - The net profit attributable to shareholders for 2020 was CNY 105,674,118.60, a significant recovery from a loss of CNY 24,813,581.09 in 2019[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 84,220,735.90, compared to a loss of CNY 37,218,190.80 in the previous year[21]. - The net cash flow from operating activities was CNY 163,308,432.90, a decrease of 4.82% from CNY 171,587,447.60 in 2019[21]. - The total assets at the end of 2020 were CNY 1,815,703,121.35, down 7.73% from CNY 1,967,735,544.38 at the end of 2019[21]. - The net assets attributable to shareholders increased by 13.55% to CNY 856,734,656.19 from CNY 754,529,542.93 in 2019[21]. - The company reported a basic earnings per share of 1.42 RMB in 2020, a significant recovery from a loss of 0.33 RMB per share in 2019[22]. - The company achieved a net profit attributable to shareholders of 105.67 million yuan, with a net profit excluding non-recurring gains and losses of 84.22 million yuan[40]. - Total operating revenue reached 852.15 million yuan, representing a year-on-year increase of 13.05%, while operating costs increased by 10.70% to 595.33 million yuan[47]. - The gross profit margin improved by 1.42 percentage points, with main business revenue of 844.48 million yuan, up 13.19% year-on-year[40]. Investment and Expansion - The company is investing in craft beer business projects, including the Ningbo Damu Bay Craft Beer Cultural and Tourism Complex and the Shanghai Songjiang Urban Craft Beer Experience Factory[33]. - The company is actively pursuing two fundraising projects: the fresh beer vending machine operation project and the same-day fresh craft beer workshop project, which are crucial for sales growth[86]. - The company has established subsidiaries in key markets such as Nigeria, Brazil, and Myanmar, enhancing its international competitiveness[36]. - The company plans to establish craft beer experience factories in major cities, enhancing brand recognition and consumer engagement[85]. - The company has completed the Shanghai Songjiang craft beer project with an annual production capacity of 3,000 tons, currently operating at full capacity[85]. Risk Management - The company has outlined potential risks in its forward-looking statements, emphasizing the importance of investor awareness regarding investment risks[5]. - The company is facing risks related to the COVID-19 pandemic, which has impacted production and exports, as well as financial risks from high accounts receivable and inventory levels[88]. - The company is facing management risks due to increased mergers and acquisitions and the establishment of overseas subsidiaries, which may lead to discrepancies in legal, accounting, and cultural practices[90]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 1.50 per 10 shares, totaling CNY 12,932,286.90[4]. - The cash dividend payout ratio for 2020 is 12.24%, which is below 30% due to the need for capital investment in ongoing projects and short-term borrowings exceeding RMB 200 million[96]. - The proposed profit distribution plan includes a cash dividend of RMB 1.50 per 10 shares, totaling RMB 12,932,286.90, and a capital reserve transfer of 4 shares for every 10 shares held, increasing the total shares from 86,215,246 to 120,701,344[94]. - The company aims to maintain a sufficient level of undistributed profits to reduce external borrowing and lower financial costs, supporting its dual business strategy in equipment manufacturing and craft beer[95]. Corporate Governance - The company has implemented an Amiba management model to reduce costs and improve management efficiency across subsidiaries[84]. - The company maintains complete independence from its controlling shareholder, ensuring no non-operating fund occupation or information disclosure violations occurred[175]. - The company’s governance structure includes four specialized committees to enhance decision-making efficiency and professionalism[174]. - The board of directors held a total of 7 meetings in 2020, with 5 conducted via communication methods and 2 combining on-site and communication methods[179]. Environmental and Social Responsibility - The company has established a comprehensive environmental protection management system, ensuring compliance with environmental standards[129]. - The company has implemented safety management practices, achieving recognition as a model enterprise for safety production standards in Ningbo[129]. - The company donated RMB 800,000 to support COVID-19 prevention and treatment efforts[130]. - The company signed a strategic cooperation agreement for targeted poverty alleviation with Xiangshan County People's Government and China Agricultural Bank, purchasing Yanbian rice for RMB 102,977.6[130]. Market Trends and Industry Insights - The beer market in China has seen a decline in total consumption since 2013, with production dropping from 38.12 million kiloliters in 2018 to 34.11 million kiloliters in 2020, reflecting a trend towards premiumization[65]. - The craft beer segment in China saw an increase in consumption, with sales reaching 873,000 kiloliters in 2019, accounting for 2.1% of total beer consumption[79]. - The overall sales revenue of the dairy processing industry in China was CNY 419.558 billion in 2020, marking a growth of 6.22%[68]. Employee and Talent Management - The total number of employees in the parent company is 513, while the total number of employees in major subsidiaries is 445, resulting in a combined total of 958 employees[168]. - The company has established a comprehensive talent training system, focusing on personalized training plans for different departments and positions to enhance employee skills[170]. - The remuneration for directors, supervisors, and senior management is determined based on the company's performance evaluation and approved by the board of directors[165]. Audit and Compliance - The audit report for the company was issued by Zhonghua Certified Public Accountants, confirming the accuracy and completeness of the financial statements[7]. - The company has not reported any significant accounting errors or issues that would affect its financial reporting[103]. - The company has not made any significant changes to its accounting policies that would materially affect its financial position[102].

Financial Performance - Operating revenue for the first nine months rose by 4.02% to CNY 649,954,677.61 compared to the same period last year[5]. - Net profit attributable to shareholders increased by 53.45% to CNY 77,325,315.05 year-on-year[5]. - Basic earnings per share increased by 52.94% to CNY 1.04[6]. - The weighted average return on net assets increased by 3.52 percentage points to 9.75%[6]. - Total operating revenue for Q3 2020 was CNY 218,357,328.10, an increase of 10.6% compared to CNY 196,790,219.54 in Q3 2019[32]. - Net profit for Q3 2020 reached CNY 21,739,220.87, compared to CNY 14,954,905.02 in Q3 2019, marking a growth of 45.5%[33]. - The total profit for the first three quarters of 2020 was ¥62.91 million, an increase of 45.9% from ¥43.16 million in the same period of 2019[36]. Assets and Liabilities - Total assets decreased by 7.41% to CNY 1,821,846,438.62 compared to the end of the previous year[5]. - The company's total assets amounted to CNY 1,679,156,333.95, an increase from CNY 1,610,058,421.10 year-over-year[29]. - The company's total liabilities decreased to approximately 988.19 million RMB from 1.21 billion RMB at the end of 2019[25]. - Total liabilities were CNY 823,304,168.84, slightly up from CNY 812,494,781.10 in the previous year[29]. - The company's current assets totaled approximately 1.46 billion RMB, down from 1.66 billion RMB at the end of 2019[23]. - Total current assets increased from CNY 1,664,226,686.44 to CNY 1,669,781,437.91, a rise of CNY 5,554,751.47[45]. Shareholder Information - Net assets attributable to shareholders increased by 10.22% to CNY 831,608,745.56 year-on-year[5]. - The total number of shareholders reached 6,397[12]. - The top shareholder, Ningbo Lehui Investment Holding Co., Ltd., holds 23.49% of the shares[12]. - The total equity attributable to shareholders increased to CNY 855,852,165.11 from CNY 797,563,640.00 year-over-year[29]. Cash Flow - Net cash flow from operating activities decreased by 4.13% to CNY 169,552,620.26 compared to the same period last year[5]. - The company reported a net cash outflow from financing activities of RMB -119,538,497.02, primarily due to the repayment of short-term borrowings[16]. - The cash inflow from financing activities was ¥303.85 million in 2020, down 33.3% from ¥455.18 million in 2019[41]. - The net cash flow from financing activities was -¥119.54 million in 2020, an improvement from -¥179.69 million in 2019[41]. Investments and Expenses - Research and development expenses for Q3 2020 were CNY 11,175,868.47, up from CNY 7,637,800.59 in Q3 2019, indicating a 46.5% increase[32]. - The company reported an investment income of CNY 1,876,890.89 for Q3 2020, down from CNY 3,069,879.10 in Q3 2019[33]. - The company incurred financial expenses of ¥7.57 million in Q3 2020, a significant increase from ¥0.16 million in Q3 2019[36]. Future Outlook - The company plans to raise 418 million RMB through a private placement of A-shares, which was approved by the China Securities Regulatory Commission on September 21, 2020[19]. - The company expects a significant increase in total share capital and net assets following the private placement, enhancing overall capital strength[20]. - The company anticipates that net profit may not grow in line with share capital and net assets in the short term, potentially diluting immediate returns[20]. - The company expects to turn from a loss to a profit in the cumulative net profit by the end of the next reporting period compared to the previous year[21]. Operational Challenges - Sales expenses decreased by 36.84% to RMB 14,058,195.48, influenced by the bankruptcy of German subsidiary Finnah and reduced travel expenses due to the pandemic[16]. - The company is currently involved in arbitration against former shareholders of Finnah, claiming EUR 9,500,000 plus interest[17]. - The company reported a net loss of 24.81 million RMB in 2019, primarily due to a full provision for investment losses from its subsidiary, Finnah Packtec GmbH[21].