Financial Performance - The company's operating revenue for 2022 was ¥714,270,138.02, representing a 27.70% increase compared to ¥559,323,180.01 in 2021[20]. - The net profit attributable to shareholders for 2022 was ¥53,391,566.62, a significant increase of 264.08% from ¥14,664,978.91 in 2021[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥52,134,638.96, up 561.52% from ¥7,881,092.23 in 2021[20]. - The net cash flow from operating activities for 2022 was ¥15,938,268.05, a turnaround from a negative cash flow of ¥52,751,925.30 in 2021, marking a 130.21% improvement[20]. - The total assets at the end of 2022 were ¥861,262,630.58, reflecting a 12.05% increase from ¥768,665,508.41 at the end of 2021[20]. - The net assets attributable to shareholders increased by 4.57% to ¥536,000,404.96 at the end of 2022, compared to ¥512,584,988.06 at the end of 2021[20]. - The company achieved operating revenue of approximately 710 million RMB in 2022, representing a year-on-year growth of about 28%[27]. - The core business of heat exchangers generated approximately 660 million RMB in revenue, with a year-on-year increase of about 30%[27]. - The lithium battery PACK segment reported revenue of approximately 18 million RMB, marking a year-on-year growth of about 188%[27]. - The weighted average return on equity increased to 10.23%, up 7.33 percentage points from the previous year[21]. - The gross margin for the main business increased by 1.49 percentage points to 19.35% in the general equipment sector[47]. - The company reported a significant increase in sales expenses, which rose by 69.94% to ¥12.93 million due to higher promotional and after-sales costs[43]. - The total revenue for the period reached 1,575,184.47 million, a significant increase of 152.85% compared to the previous year[51]. Cash Flow and Investments - The net cash flow from operating activities improved significantly to ¥15.94 million, compared to a negative cash flow of ¥52.75 million in the previous year, marking a 130.21% change[43]. - The net cash flow from investment activities was negative at ¥15.92 million, worsening by 110.71% compared to the previous year[43]. - The company's financing activities generated a net cash flow of ¥7.73 million, a decrease of 56.98% compared to the previous year due to increased dividend distributions[44]. - The company has engaged in wealth management activities, with a total investment of CNY 103 million in bank financial products[140]. - The company reported a total of RMB 20,000,000 in entrusted financial management with a yield of approximately 1.9%-2%[142]. - The company has consistently utilized its own funds for financial products, primarily investing in government bonds and central bank bills[142]. Research and Development - Research and development expenses increased by 14.02% to ¥28.23 million, driven by increased investment in new product development[44]. - The company has 97 R&D personnel, accounting for 10.4% of the total workforce, emphasizing its commitment to research[55]. - The company is focusing on the development of aluminum plate-fin heat exchangers, which are widely used in various industries, indicating a strong market demand[68]. - The company aims to enhance its product competitiveness by increasing investment in new product development, particularly in the new energy sector[75]. Market and Strategic Initiatives - The company is transitioning from a single industrial component supplier to a modular and integrated management supplier in the heat exchange solutions market[27]. - The company plans to increase investment in online sales platforms to boost sales in the household energy storage market[27]. - Approximately 70% of the company's revenue comes from export business, making it vulnerable to fluctuations in foreign market demand and exchange rates[76]. - The company is focusing on deepening relationships with existing customers and expanding into new markets, particularly in the power electronics and new energy sectors[75]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[180]. Corporate Governance - The company has established a robust corporate governance structure, ensuring compliance with relevant laws and regulations[80]. - The company approved the 2021 annual financial report during the shareholders' meeting[83]. - The total remuneration for directors and senior management was 3,543,550 yuan, with a decrease of 839,100 yuan compared to the previous year[88]. - The company plans to continue its independent operations without significant influence from controlling shareholders[83]. - The company has not faced any penalties from securities regulatory authorities in the past three years[94]. - The company is committed to maintaining transparency and compliance with corporate governance regulations[85]. Environmental and Social Responsibility - The company has invested 1,200,000 RMB in environmental protection during the reporting period[120]. - The company has installed solar panels with a total capacity of 1.2 megawatts to reduce carbon emissions[124]. - A total of 1.2 million yuan was donated to the Wuxi Binhu District Charity Foundation for various charitable projects[125]. - The company is committed to reducing carbon emissions and has implemented measures to decrease energy consumption[124]. - The company has not reported any specific measures taken to consolidate poverty alleviation and rural revitalization efforts[126]. Risks and Challenges - The company has detailed the risks it faces, including industry and policy risks, in its management discussion and analysis section[8]. - The company identifies aluminum prices as a significant cost factor, accounting for about 55% of manufacturing costs, which poses a risk if prices rise sharply[76]. - The company faces risks related to changes in export tax policies, which could adversely affect its operations[78]. - The macroeconomic environment significantly impacts the company's main business, which is linked to industries like air compressors and engineering machinery[76].

2022 年第三季度报告 证券代码：603090 证券简称：宏盛股份 无锡宏盛换热器制造股份有限公司 2022 年第三季度报告 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： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比 上年同期增 | 年初至报告期末 | 年初至报告期 末比上年同期 | | --- | --- | --- | --- | --- | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 204,112,244.86 | 47.51 | 542,069,715.75 | 38.13 | | 归属于上市公司股东的 | 24,319,518.45 | 190.93 | 39,241,079.87 | 143.81 | | 净利润 归 ...

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 337,957,470.89, representing a 33.02% increase compared to CNY 254,065,480.67 in the same period last year[21]. - The net profit attributable to shareholders of the listed company reached CNY 14,921,561.42, a significant increase of 92.89% from CNY 7,735,901.96 in the previous year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 14,230,398.33, up 143.89% from CNY 5,834,780.07 year-on-year[21]. - Basic earnings per share increased by 87.50% to CNY 0.15 compared to the same period last year[23]. - Net profit attributable to shareholders increased by 92.89% to CNY 1,492.16 million, with total revenue reaching CNY 33,795.75 million, a year-on-year growth of 33.02%[44]. - The weighted average return on equity rose to 2.87%, an increase of 1.33 percentage points from the previous year[23]. - The company reported a net cash flow from operating activities of -CNY 57.98 million, a decline of 1,121.00% year-on-year[44]. - The total assets of the company reached CNY 82,920.55 million, reflecting a year-on-year increase of 7.88%[44]. - The company reported a decrease in cash flow from investing activities, with cash inflow of CNY 89,118,063.58 in the first half of 2022, down from CNY 252,207,023.91 in the same period of 2021[110]. - The company’s total assets at the end of the first half of 2022 were RMB 511,698,268.88, reflecting its overall financial health[119]. Cash Flow and Investments - The net cash flow from operating activities was negative at CNY -579,813.50, a decline of 1,121.00% compared to CNY 56,789.04 in the same period last year[21]. - Investment activities generated a net cash flow of -CNY 769.61 million, an increase of 35.03% compared to the previous year[44]. - Cash flow from operating activities turned negative at -CNY 579,813.50, a decline of 1,121.00% compared to the previous year[46]. - Cash flow from financing activities also turned negative at -CNY 22,172,636.65, a decline of 651.01% compared to the previous year[46]. - The company raised CNY 2,597,000.00 from minority shareholders in the first half of 2022, compared to no such income in the previous year[111]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 829,205,508.53, reflecting a 7.88% increase from CNY 768,665,508.41 at the end of the previous year[21]. - Total liabilities increased to ¥317,507,239.65 from ¥241,326,303.07, which is an increase of approximately 31.6%[98]. - Total current assets increased to ¥512,736,956.81 from ¥460,267,742.87, representing an increase of approximately 11.8%[96]. - Total equity decreased to ¥511,698,268.88 from ¥527,339,205.34, a decline of approximately 2.9%[98]. - The company reported a decrease in cash and cash equivalents to ¥75,504,764.04 from ¥94,963,738.23, a drop of about 20.5%[96]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 8,149[84]. - The largest shareholder, Niu Yuxia, holds 49,175,000 shares, representing 49.18% of the total shares[86]. - Niu Yuxia reduced her holdings by 5,000,000 shares during the reporting period[86]. - The second largest shareholder, Shenzhen Lavender Enterprise Management Partnership, holds 5,000,000 shares, accounting for 5.00%[86]. - Niu Faqing, a director, reduced his holdings by 839,100 shares, bringing his total to 2,643,700 shares[90]. Research and Development - The company is focusing on the development of compact and efficient heat exchangers to meet the growing demands of electric vehicles and machinery[30]. - The company has achieved significant advancements in product research and development, supported by a leading wind tunnel testing system[40]. - Research and development expenses for the first half of 2022 were ¥12,267,536.53, an increase from ¥11,840,768.49 in the previous year[103]. Compliance and Governance - There were no significant lawsuits or arbitration matters during the reporting period[77]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or other related parties[76]. - There were no major related party transactions reported during the period[78]. - The company has ensured that all related party transactions are conducted at fair market prices and comply with legal procedures[75]. - The company has committed to not using any company funds or resources for personal gain by its controlling shareholders[75]. Market and Risks - The company relies heavily on exports, with approximately 70% of its business coming from international markets, exposing it to foreign market demand fluctuations[57]. - Major export markets include the United States, South Korea, the European Union, and India, with potential risks from trade protection policies that could affect pricing advantages and sales growth[58]. - Continuous investment in technology research and development is crucial; failure to innovate could lead to decreased competitiveness against rivals' products in terms of performance, quality, and price[58]. Accounting Policies - The financial statements are prepared based on the assumption of going concern, indicating the company has the ability to continue operations for at least 12 months from the reporting date[129]. - The company’s financial reports comply with the requirements of the enterprise accounting standards, ensuring a true and complete reflection of its financial status[130]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired on the purchase date[136]. - The company applies the equity method for investments in joint ventures, recognizing its share of assets, liabilities, and income[145].

2022 年第一季度报告 证券代码：603090 证券简称：宏盛股份 无锡宏盛换热器制造股份有限公司 2022 年第一季度报告 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。 重要内容提示 | 项目 | 本报告期 | 本报告期比上年同期增减 变动幅度(%) | | --- | --- | --- | | 营业收入 | 153,459,078.85 | 52.16 | | 归属于上市公司股东的净利润 | 2,758,323.63 | -0.25 | | 归属于上市公司股东的扣除非经常性 | 2,764,366.75 | 73.73 | | 损益的净利润 | | | | 经营活动产生的现金流量净额 | -18,865,708.05 | -1,141.89 | | 基本每股收益（元/股） | 0.03 | 0 | | 稀释每股收益（元/股） | 0.03 | 0 | 1 / 11 2022 年第一季度报告 | 加权平均净资产收益率（%） | | 0.54 减少 | 0.01 | 个百分点 | | --- | --- | --- ...

Financial Performance - The company's operating revenue for 2021 was CNY 559,323,180.01, representing a 72.02% increase compared to CNY 325,149,347.38 in 2020[19]. - The net profit attributable to shareholders for 2021 was CNY 14,664,978.91, a 124.16% increase from CNY 6,542,159.28 in 2020[19]. - The net profit after deducting non-recurring gains and losses was CNY 7,881,092.23, up 73.84% from CNY 4,533,409.06 in 2020[19]. - The company's basic earnings per share increased by 114.29% to CNY 0.15 in 2021 compared to CNY 0.07 in 2020[20]. - Operating profit reached CNY 12.32 million, up 26.54% year-on-year, while net profit was CNY 14.70 million, reflecting an 84.00% increase[40]. - The company reported a net profit attributable to shareholders of CNY 8,359,319.94 in Q3 2021, but a loss of CNY -1,430,242.99 in Q4 2021[21]. - The company reported a net profit of CNY 166,517,721.26, compared to CNY 151,852,742.35 in 2020, indicating an increase of 9.7%[185]. - The total comprehensive income for 2021 was RMB 14,687,261.21, compared to RMB 7,990,431.15 in 2020, showing a strong performance[190]. Assets and Liabilities - The total assets at the end of 2021 were CNY 768,665,508.41, a 10.11% increase from CNY 698,100,946.40 at the end of 2020[19]. - The total liabilities rose to CNY 241,326,303.07, up from CNY 188,978,262.66, reflecting an increase of 27.7%[185]. - The company's total net assets were CNY 527.34 million, a year-on-year increase of 3.58%[40]. - Current assets totaled CNY 460,267,742.87, an increase of 21.8% from CNY 377,834,006.07 in 2020[184]. - Cash and cash equivalents decreased to CNY 94,963,738.23 from CNY 122,487,491.86, a decline of 22.4%[184]. - Accounts receivable rose to CNY 195,005,809.46, up 23.0% from CNY 158,558,750.88 in the previous year[184]. - Inventory increased significantly to CNY 119,852,253.72, compared to CNY 83,734,264.34, marking a growth of 43.1%[184]. Cash Flow - The cash flow from operating activities for 2021 was negative at CNY -52,751,925.30, a decrease of 213.27% compared to CNY 46,570,097.19 in 2020[19]. - The net cash flow from operating activities decreased by 213.27%, resulting in a cash outflow of 52,751,925.30 yuan due to increased working capital[55]. - The net cash flow from financing activities was 17,973,573.60 CNY, recovering from -61,161,436.12 CNY in the previous year[196]. - The ending cash and cash equivalents balance decreased to 69,663,738.23 CNY from 114,951,491.86 CNY, a decline of approximately 39.3%[197]. Business Operations - The core business of heat exchangers achieved revenue exceeding CNY 500 million, representing a 63% year-on-year growth[24]. - The main business revenue from heat exchangers was CNY 502.65 million, with a gross margin decrease of 7.43 percentage points to 18.25%[44]. - The cost of main business increased to CNY 458.38 million, a rise of 86.56% year-on-year, primarily due to a 33% increase in aluminum prices[42]. - The production volume of heat exchangers was 10,382.74 tons, with sales volume at 9,867.35 tons, reflecting a production increase of 65.47%[45]. Research and Development - Research and development expenses amounted to 24,756,014.89 yuan, representing 4.43% of total operating revenue[53]. - The company is investing in new product development, including systems for wind power gear lubrication, multi-layer cooling systems for agricultural machinery, and cooling systems for energy storage and new energy vehicles[74]. - The company has filed for 7 utility model patents and 1 software copyright during the reporting period[25]. Governance and Compliance - The company has received a standard unqualified audit report from Zhongxinghua Accounting Firm[4]. - The company held 10 supervisory board meetings during the reporting period, all attended by the supervisors, ensuring compliance with relevant regulations[81]. - The company has implemented measures to manage insider information and ensure confidentiality obligations are met[81]. - The company has not faced significant differences in governance compared to regulatory requirements[81]. - The company has established specialized committees under the board, including the audit committee, nomination committee, compensation and assessment committee, and strategic committee[99]. Future Outlook - In 2022, the company plans to achieve a revenue target of 550 million yuan and a net profit of 40 million yuan, focusing on cost reduction and efficiency improvement strategies[74]. - The company aims to generate 30 million yuan in revenue from its new lithium battery PACK business in 2022, leveraging customer resource advantages[75]. - The company provided a positive outlook for 2022, projecting a revenue growth of 25% based on new product launches and market expansion strategies[103]. Shareholder Information - The total number of shares held by the chairman and general manager, Niu Faqing, decreased by 1,160,900 shares due to funding needs, resulting in a year-end holding of 3,482,800 shares[87]. - The largest shareholder, Niu Yuxia, holds 54,675,000 shares, representing 54.68% of the total shares[161]. - The total number of ordinary shareholders was 8,569, down from 9,100 at the end of the previous month[159]. Environmental and Social Responsibility - The company monitors environmental emissions, reporting particulate matter emissions of 0.118 tons per year and VOCs emissions of 0.1669 tons per year[120]. - The company donated ¥60,000 to the Wuxi Binhu District Charity Foundation to support various charitable projects, focusing on assisting rural and urban impoverished households with medical care, education, and basic living needs[123].

Financial Performance - The company's operating revenue for Q3 2021 was ¥138,370,560.82, representing a 55.02% increase compared to the same period last year[5]. - Net profit attributable to shareholders was ¥8,359,319.94, showing a significant increase of 100.18% year-on-year[5]. - The net profit after deducting non-recurring gains and losses reached ¥8,079,662.88, up by 138.56% compared to the previous year[5]. - The total operating revenue for the first three quarters of 2021 reached CNY 392,436,041.49, a significant increase from CNY 251,835,860.12 in the same period of 2020, representing a growth of approximately 55.8%[18]. - The total operating costs for the first three quarters of 2021 were CNY 374,207,945.71, compared to CNY 233,769,244.73 in 2020, indicating an increase of about 60.0%[19]. - The operating profit for the first three quarters of 2021 was CNY 17,489,260.59, down from CNY 20,132,574.21 in the previous year, reflecting a decrease of approximately 8.1%[19]. - The total revenue for Q3 2021 was 15,365,988.53 CNY, a decrease from 17,790,273.76 CNY in Q3 2020, representing a decline of approximately 13.6%[20]. - The net profit attributable to shareholders of the parent company was 16,095,221.90 CNY, down from 16,815,374.27 CNY in the same period last year, reflecting a decrease of about 4.3%[21]. - The total comprehensive income for Q3 2021 was 15,358,281.03 CNY, down from 17,790,273.76 CNY in Q3 2020, indicating a decrease of approximately 13.6%[21]. Assets and Liabilities - The total assets at the end of the reporting period were ¥782,126,520.80, reflecting a 12.04% increase from the end of the previous year[6]. - As of September 30, 2021, total assets amounted to CNY 782,126,520.80, an increase from CNY 698,100,946.40 at the end of 2020, showing a growth of about 12.0%[16]. - The total current assets as of September 30, 2021, were CNY 469,293,323.55, compared to CNY 377,834,006.07 at the end of 2020, representing an increase of approximately 24.2%[14]. - The total liabilities as of September 30, 2021, were CNY 254,116,295.64, compared to CNY 188,978,262.66 at the end of 2020, reflecting an increase of about 34.5%[16]. Cash Flow - The company's cash flow from operating activities showed a net outflow of ¥32,605,013.77, a decrease of 207.77% compared to the previous period[6]. - Cash inflows from operating activities totaled 364,305,518.07 CNY, an increase from 298,603,951.20 CNY in the previous year, marking a growth of about 22%[22]. - The net cash flow from operating activities was -32,605,013.77 CNY, contrasting with a positive cash flow of 30,253,599.08 CNY in Q3 2020[23]. - Cash inflows from investment activities amounted to 381,354,887.39 CNY, compared to 260,368,427.14 CNY in the same period last year, representing an increase of approximately 46.4%[23]. - The net cash flow from investment activities was -20,339,653.36 CNY, down from 23,012,440.97 CNY in Q3 2020[23]. - The company raised 58,000,000.00 CNY through financing activities, an increase from 38,000,000.00 CNY in the previous year, reflecting a growth of about 52.6%[23]. - The company's cash and cash equivalents decreased to CNY 112,681,846.23 from CNY 122,487,491.86 at the end of 2020, a decline of about 8.5%[14]. - The cash and cash equivalents at the end of the period were 74,145,846.23 CNY, compared to 50,451,680.03 CNY at the end of Q3 2020, showing an increase of about 46.9%[23]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 9,222[11]. - The weighted average return on equity was 1.64%, an increase of 0.82 percentage points from the previous year[6]. - Accounts receivable increased by 29.88% due to higher sales volume[9]. - The company reported a significant increase in accounts receivable, which rose to CNY 205,941,390.87 from CNY 158,558,750.88, marking an increase of approximately 30.0%[14]. - Inventory rose by 37.40% as a result of increased orders[9]. - The inventory as of September 30, 2021, was CNY 115,047,450.49, up from CNY 83,734,264.34 at the end of 2020, indicating an increase of approximately 37.4%[14]. - The company reported a 376.07% increase in investment income from the disposal of equity interests[9].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥254,065,480.67, representing a 56.28% increase compared to ¥162,575,718.32 in the same period last year[19]. - The net profit attributable to shareholders of the listed company decreased by 38.80% to ¥7,735,901.96 from ¥12,639,391.38 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 50.63% to ¥5,834,780.07 compared to ¥11,818,280.57 in the same period last year[19]. - The net cash flow from operating activities significantly decreased by 99.63% to ¥56,789.04 from ¥15,529,244.23 in the previous year[19]. - The basic earnings per share decreased by 38.46% to CNY 0.08 compared to the same period last year[20]. - The company reported a net profit margin improvement, with retained earnings increasing to CNY 159,588,644.31 from CNY 151,852,742.35, a rise of approximately 5.1%[95]. - The total comprehensive income for the first half of 2021 was ¥7,622,394.93, compared to ¥13,385,560.98 in the previous year, indicating a decline of 43.0%[102]. Assets and Liabilities - Total assets at the end of the reporting period rose by 7.60% to ¥751,141,529.90 from ¥698,100,946.40 at the end of the previous year[19]. - The company’s total equity increased to CNY 520,274,339.06 from CNY 509,122,683.74, marking a rise of about 2.3%[95]. - Current liabilities rose to CNY 225,390,445.45, compared to CNY 183,357,929.11, reflecting an increase of about 23%[95]. - Total liabilities reached CNY 230,867,190.84, up from CNY 188,978,262.66, indicating a growth of approximately 22.1%[95]. Cash Flow - The company reported a net cash flow from operating activities of CNY 5.68 million, a significant decline of 99.63%[39]. - Cash inflow from investment activities was CNY 252,207,023.91 in the first half of 2021, compared to CNY 219,994,564.12 in the first half of 2020, marking a 14.5% increase[108]. - Cash outflow from investment activities totaled CNY 264,052,303.76 in the first half of 2021, up from CNY 168,964,783.19 in the same period of 2020, indicating a 56.3% increase[108]. - The ending cash and cash equivalents balance for the first half of 2021 was CNY 106,109,804.11, compared to CNY 86,579,378.44 at the end of the first half of 2020, representing a 22.5% increase[108]. Research and Development - Research and development expenses rose by 17.58% to CNY 11.84 million, reflecting the company's commitment to innovation[40]. - Research and development expenses increased to ¥11,840,768.49, compared to ¥10,070,100.60 in the previous year, reflecting a growth of 17.6%[101]. Shareholder Information - The company held a shareholder meeting on June 28, 2021, where several resolutions were passed, including the election of new board members and the approval of financial reports[59]. - The total number of ordinary shareholders at the end of the reporting period was 9,389[83]. - The top shareholder, Niu Yuxia, holds 54,675,000 shares, representing 54.68% of the total shares[85]. Environmental Commitment - The company reported specific emissions data, including particulate matter emissions of 0.118 tons per year and VOCs emissions of 0.1669 tons per year[62]. - The company is committed to environmental monitoring, conducting monthly water quality tests and semi-annual air quality assessments to ensure compliance with standards[65]. Governance and Compliance - The company has not faced any administrative penalties related to environmental issues during the reporting period[62]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period, indicating strong financial governance[72]. - The company has committed to comply with market principles in all transactions with related parties, ensuring fairness and transparency[71]. Financial Instruments and Accounting Policies - The company recognizes expected liabilities when there is a present obligation that is likely to result in an outflow of economic benefits[196]. - Financial assets and liabilities are initially measured at fair value, with transaction costs recognized in profit or loss for certain categories[147]. - The company uses the effective interest method for subsequent measurement of financial assets measured at amortized cost[148]. Strategic Initiatives - The company is actively communicating with clients to enhance product pricing and improve profitability amid rising costs[38]. - The company emphasizes the need for continuous investment in technology research and development to maintain competitive advantages in product performance, quality, and pricing[52].

Financial Performance - Operating revenue rose by 45.43% to CNY 100,856,616.43 year-on-year[5] - Net profit attributable to shareholders decreased by 39.73% to CNY 1,591,216.60 compared to the same period last year[5] - Basic and diluted earnings per share increased by 50.00% to CNY 0.03 per share[5] - The weighted average return on net assets improved by 0.06 percentage points to 0.55%[5] - The net profit for Q1 2021 reached ¥3,001,696.71, up from ¥2,749,843.25 in Q1 2020, representing a growth of 9.1%[25] - The total comprehensive income for Q1 2021 was ¥2,998,441.71, compared to ¥2,749,843.25 in Q1 2020, reflecting a growth of 9.1%[26] - The company's operating profit for Q1 2021 was ¥922,434.45, down from ¥2,240,902.11 in Q1 2020, indicating a decline of 58.8%[27] - The total profit for Q1 2021 was ¥862,367.25, compared to ¥2,137,938.21 in Q1 2020, representing a decrease of 59.6%[27] Cash Flow - Cash flow from operating activities showed a significant decline of 136.62%, resulting in a net outflow of CNY 1,519,106.85[5] - The net cash flow from operating activities was -¥1,519,106.85, a decrease of 136.62% from ¥4,148,053.17 in the previous period[10] - The cash inflow from operating activities in Q1 2021 was ¥106,727,918.90, while cash outflow was ¥108,247,025.75, resulting in a net cash outflow of ¥1,519,106.85[28] - The net cash flow from operating activities for Q1 2021 was -8,858,080.80 RMB, compared to 5,963,394.35 RMB in Q1 2020, indicating a significant decline[30] - The cash inflow from operating activities was 59,930,203.16 RMB in Q1 2021, down from 118,778,693.96 RMB in Q1 2020, indicating a 49.6% decrease[30] - The cash outflow for operating activities was 68,788,283.96 RMB in Q1 2021, compared to 112,815,299.61 RMB in Q1 2020, showing a 39% decrease[30] Assets and Liabilities - Total assets increased by 5.95% to CNY 739,627,788.39 compared to the end of the previous year[5] - The total number of shareholders reached 11,059 at the end of the reporting period[7] - The largest shareholder, Niu Yuxia, holds 54.68% of the shares, totaling 54,675,000 shares[7] - The company reported a significant increase in contract liabilities, which rose by 145.87% to ¥21,809,445.76 from ¥8,870,139.99[10] - Total liabilities increased to ¥118,529,946.89 from ¥93,484,780.36, representing a rise of 26.8%[21] - The company's equity attributable to shareholders reached ¥465,968,869.11, up from ¥464,878,340.98, showing a slight increase of 0.2%[21] Investment and Financing Activities - Cash flow from financing activities improved significantly to ¥9,512,263.88, compared to -¥9,988,960.42 in the previous period, indicating increased bank borrowings[10] - The net cash flow from financing activities was 4,599,874.99 RMB in Q1 2021, recovering from a negative cash flow of -9,988,960.42 RMB in Q1 2020[31] - The company received 15,000,000.00 RMB in borrowings during Q1 2021, an increase from 10,000,000.00 RMB in Q1 2020[31] Research and Development - The company reported a research and development expense of ¥5,592,433.85 for Q1 2021, compared to ¥5,137,906.81 in Q1 2020, indicating a focus on innovation[23] - Research and development expenses for Q1 2021 were ¥2,535,463.71, slightly higher than ¥2,370,781.88 in Q1 2020, showing an increase of 7%[26] Market Expansion - The company has established Wuxi Weika New Energy Technology Co., Ltd. during the reporting period, indicating ongoing market expansion efforts[11] - The company plans to continue expanding its market presence and developing new products, although specific future guidance was not detailed in the report[23]

Financial Performance - In 2020, the company's operating revenue was CNY 325,149,347.38, a decrease of 33.75% compared to CNY 490,762,251.62 in 2019[19] - The net profit attributable to shareholders was CNY 6,542,159.28, down 78.92% from CNY 31,032,178.05 in the previous year[19] - The net profit after deducting non-recurring gains and losses was CNY 4,533,409.06, a decline of 84.68% compared to CNY 29,588,893.93 in 2019[19] - Basic earnings per share decreased by 77.42% to CNY 0.07 in 2020 from CNY 0.31 in 2019[20] - Diluted earnings per share also fell by 77.42% to CNY 0.07 in 2020 compared to CNY 0.31 in 2019[20] - Operating profit was CNY 9.73 million, down 73.27% year-on-year, while net profit fell to CNY 7.99 million, a decline of 75.47%[49] - The total comprehensive income attributable to the parent company's owners was CNY 6,542,159.28, a decrease of 78.9% from CNY 31,032,178.05 in 2019[170] Cash Flow and Assets - The net cash flow from operating activities increased by 78.26% to CNY 46,570,097.19 from CNY 26,125,058.29 in 2019[19] - Cash generated from operating activities increased by 78.26% to approximately ¥46.57 million compared to ¥26.13 million in the previous period[62] - Cash and cash equivalents increased to CNY 122,487,491.86 from CNY 76,403,585.15, representing a growth of approximately 60.4%[161] - Total assets were CNY 698,100,946.40, a decrease of 6.99% from CNY 750,595,864.99 at the end of 2019[19] - The company's total assets decreased to CNY 558,363,121.34 in 2020 from CNY 625,287,666.47 in 2019, indicating a contraction in the company's asset base[167] - Total liabilities decreased to CNY 188,978,262.66 from CNY 239,321,451.19, a reduction of about 21%[162] Research and Development - The company has increased R&D investment by 10.20% to CNY 22.77 million, reflecting its commitment to innovation despite overall revenue decline[50] - Research and development expenses amounted to approximately ¥22.77 million, representing 7.00% of total revenue[61] - The company has developed a heat exchanger design software that includes four modules, enhancing its capabilities in various industries[47] Market and Industry Challenges - The company faces industry and policy risks as detailed in the report[6] - The deep cooling equipment segment saw a decline in sales by over 80%, indicating challenges in business expansion[48] - The market for plate-fin heat exchangers is facing challenges from rising raw material prices and increased competition, influenced by geopolitical changes and international trade tensions[75] - The company faced challenges due to the COVID-19 pandemic, with nearly 80% of its heat exchanger products being export-oriented, leading to a decrease in overseas orders[48] Corporate Governance and Compliance - The company has a standard unqualified audit report from Zhongxinghua Accounting Firm[4] - The company has not faced any legal or regulatory violations during the reporting period, ensuring compliance with governance standards[139] - The company confirmed that there were no significant differences in corporate governance compared to the requirements of the China Securities Regulatory Commission[144] Shareholder Information - The largest shareholder, Niu Yuxia, holds 54,675,000 shares, representing 54.68% of the total shares[119] - The total number of ordinary shareholders increased from 9,087 to 9,160 during the reporting period[117] - The company has not reported any shareholding changes among directors and senior management during the reporting period[129] Future Plans and Investments - The company plans to achieve revenue of 400 million yuan from heat exchangers, with a target of over 10 million yuan in sales from single products in the wind power and fuel cell sectors[78] - The company plans to invest 20 million yuan in its subsidiary for operational funding and 19.5 million yuan in a new subsidiary for business startup costs[88] - The company plans to expand into three business segments: deep cooling equipment, battery PACK, and intelligent loading, leveraging synergies among them[76] Environmental and Social Responsibility - The company donated 100,000 RMB to a charity fund in Wuxi for various public welfare projects in 2020[112] - The company promotes resource conservation and environmental protection through initiatives like paperless offices and community clean-up activities[113]

Financial Performance - Operating revenue for the first nine months was CNY 251,835,860.12, a decline of 34.06% year-on-year[7] - Net profit attributable to shareholders decreased by 34.26% to CNY 16,815,374.27 for the first nine months[7] - Basic earnings per share decreased by 34.62% to CNY 0.17[7] - Revenue decreased by 39.27% to ¥175,528,945.66 compared to the previous period[13] - The company reported a net profit excluding non-recurring gains and losses of CNY 15,205,135.15, down 45.42% year-on-year[7] - Total revenue for Q3 2020 was CNY 89,260,141.80, a decrease from CNY 181,614,571.75 in Q3 2019, representing a decline of approximately 50.9%[23] - The net profit for Q3 2020 was CNY 4,404,712.78, down 54.8% from CNY 9,762,316.28 in Q3 2019[25] - The total profit for Q3 2020 was CNY 4,567,427.52, a decline of 55.3% compared to CNY 10,193,325.31 in Q3 2019[25] Assets and Liabilities - Total assets decreased by 9.36% to CNY 680,327,449.62 compared to the end of the previous year[7] - Total assets as of September 30, 2020, were CNY 552,287,771.59, down from CNY 625,287,666.47 at the end of 2019, a decline of about 11.6%[22] - Total liabilities decreased to CNY 83,542,780.16 from CNY 155,382,126.33, indicating a reduction of about 46.3%[22] - Total liabilities decreased by 32.6% to ¥161,262,762.06 from ¥239,321,451.19[18] - Total assets amounted to approximately $625.29 million, with non-current assets totaling $309.39 million[40] - Current liabilities reached $155.27 million, including short-term borrowings of $91.5 million and accounts payable of $43.3 million[40] Cash Flow - Cash flow from operating activities increased by 30.44% to CNY 30,253,599.08 compared to the same period last year[7] - Cash inflow from operating activities totaled CNY 298,603,951.20 for the first three quarters of 2020, down 21.2% from CNY 378,995,657.32 in 2019[29] - Cash inflow from investment activities was CNY 260,368,427.14, a decrease of 33.8% compared to CNY 394,059,063.15 in the previous year[29] - Cash flow from financing activities resulted in a net outflow of CNY 65,798,313.34, contrasting with a net inflow of CNY 80,141,470.85 in the same period of 2019[30] - The ending balance of cash and cash equivalents was CNY 50,451,680.03, down from CNY 55,236,196.33 at the end of the previous year[30] Shareholder Information - The number of shareholders at the end of the reporting period was 9,363[10] - The company maintained a stable capital reserve of CNY 222,290,593.35, unchanged from the previous year[22] - Shareholders' equity stood at approximately $469.91 million, with retained earnings of $124.35 million[41] Research and Development - Research and development expenses increased by 13.32% to ¥15,566,220.33 due to higher labor input[13] - Research and development expenses for Q3 2020 were CNY 5,496,119.73, an increase from CNY 4,868,145.77 in Q3 2019, reflecting a growth of approximately 12.9%[23] Impact of COVID-19 - The company faced a significant impact on revenue due to the COVID-19 pandemic[12]