2021 年第一季度报告 公司代码：603308 公司简称：应流股份 安徽应流机电股份有限公司 2021 年第一季度报告 1 / 18 2021 年第一季度报告 一、 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 18 2021 年第一季度报告 一、 重要提示 1.1 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、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人杜应流、主管会计工作负责人钟为义及会计机构负责人（会计主管人员）涂建国 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | --- | |-----------------------------------------------|------------------|-- ...

Financial Performance - Net profit attributable to shareholders was ¥131,539,551.67, representing a growth of 23.59% year-on-year[18]. - The company reported a total net profit of ¥96,023,470.70 after deducting non-recurring gains and losses, an increase of 23.04% year-on-year[18]. - Total operating revenue for Q3 2020 was CNY 490,987,802.56, an increase from CNY 470,386,561.90 in Q3 2019, representing a growth of approximately 13.5%[50]. - Net profit for Q3 2020 reached CNY 52,575,351.73, up from CNY 38,749,749.99 in Q3 2019, indicating a growth of approximately 35.6%[54]. - Total revenue for Q3 2020 was approximately ¥518.74 million, a decrease of 9.6% compared to ¥573.63 million in Q3 2019[58]. - Net profit for Q3 2020 was approximately ¥28.74 million, a decrease of 19.6% compared to ¥35.74 million in Q3 2019[62]. - The total comprehensive income attributable to the parent company was approximately ¥51.27 million for the period, compared to ¥32.16 million in the previous period[60]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥8,305,321,317.60, an increase of 11.50% compared to the previous year[18]. - Non-current assets totaled ¥5,400,516,861.22, compared to ¥4,828,676,624.02, reflecting an increase of about 11.8%[39]. - The total liabilities reached ¥4,070,376,434.92, compared to ¥3,273,612,490.68, which is an increase of approximately 24.3%[41]. - Current liabilities rose to ¥2,677,907,988.76 from ¥2,273,665,967.88, marking an increase of approximately 17.8%[39]. - The company’s total current assets increased to ¥2,904,804,456.38 from ¥2,620,276,890.97, showing overall growth in liquidity[35]. Cash Flow - The net cash flow from operating activities for the first nine months was ¥373,309,150.82, down by 10.80% year-on-year[18]. - Cash inflow from operating activities totaled ¥1,778,404,672.74, slightly down from ¥1,841,536,997.17 in the previous year, reflecting a decrease of 3.4%[64]. - Cash outflow from operating activities was ¥1,405,095,521.92, compared to ¥1,423,028,807.91 in 2019, indicating a decrease of 1.3%[64]. - The cash flow from investment activities showed a net outflow of ¥652,699,955.58, worsening from a net outflow of ¥436,003,037.47 in the same period last year[66]. - Cash inflow from financing activities was ¥2,920,831,383.06, an increase of 37.8% from ¥2,118,600,345.55 in 2019[66]. Shareholder Information - The total number of shareholders at the end of the reporting period was 19,155[22]. - The largest shareholder, Huoshan Yingliu Investment Management Co., Ltd., holds 27.20% of the shares[22]. Operational Efficiency - Operating revenue for the first nine months was ¥1,353,537,969.40, a decrease of 4.81% compared to the same period last year[18]. - Basic earnings per share increased to ¥0.27, up by 8.00% from ¥0.25 in the previous year[21]. - The weighted average return on net assets decreased by 0.14 percentage points to 3.49%[21]. - Research and development expenses for Q3 2020 were CNY 40,490,639.85, down from CNY 54,242,038.89 in Q3 2019, a decrease of about 25.4%[50]. - Financial expenses for Q3 2020 were approximately ¥25.95 million, an increase of 20.5% from ¥21.51 million in Q3 2019[58]. Investment and Growth - Long-term borrowings rose by 52.62% to ¥660,235,604.17, indicating a strategy to leverage for growth[29]. - The company reported a 49.98% increase in cash paid for acquiring fixed assets and intangible assets, totaling ¥655,285,245.69, reflecting ongoing investments in growth[30]. - The company plans to continue focusing on market expansion and new product development as part of its future strategy[50].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥862,550,166.84, a decrease of 9.36% compared to ¥951,601,375.99 in the same period last year [21] - Net profit attributable to shareholders of the listed company increased by 15.55% to ¥80,984,411.50 from ¥70,085,857.65 year-on-year [21] - The net cash flow from operating activities decreased by 38.44% to ¥218,810,642.11 from ¥355,471,113.91 in the previous year [21] - The company reported a net profit of ¥58,184,738.43 after deducting non-recurring gains and losses, which is an increase of 11.78% from ¥52,050,658.23 year-on-year [21] - The company reported a significant increase in prepayments, which rose to approximately ¥100.15 million from ¥38.99 million, a growth of 156.80% [102] - The company reported a significant decrease in cash received from operating activities related to other business activities, dropping to ¥94.80 million from ¥521.53 million year-over-year [135] - The company incurred a credit impairment loss of 6,319,933.55, compared to a gain of 497,903.87 in the previous year, indicating a significant negative shift [124] - The company’s total liabilities increased, with debt repayment cash outflow rising to ¥957.25 million in H1 2020 from ¥761.24 million in H1 2019 [137] Assets and Liabilities - Total assets at the end of the reporting period were ¥8,338,470,768.70, an increase of 11.94% from ¥7,448,953,514.99 at the end of the previous year [24] - The net assets attributable to shareholders of the listed company increased by 1.31% to ¥3,643,510,175.35 from ¥3,596,227,676.43 at the end of the previous year [24] - Total liabilities reached ¥4,132,067,985.94, up from ¥3,273,612,490.68, indicating an increase of around 26.3% [106] - Current liabilities rose to ¥2,758,396,847.82, compared to ¥2,273,665,967.88, marking an increase of approximately 21.3% [106] - Total current assets amounted to approximately ¥3,118.18 million, an increase of 19.03% from ¥2,620.28 million [102] - The total equity at the end of the reporting period is CNY 2,600,452,230.94, reflecting an increase of CNY 41,922,854.20 compared to the previous period [154] Revenue Streams - Revenue from nuclear energy materials and components grew by 5.20% to ¥137,104,300, showing resilience against the pandemic [36] - Revenue from aerospace new materials and components surged by 61.60% to ¥116,877,800, indicating strong demand in the "two-machine" sector [36] - The company exported products to over 30 countries, serving nearly 100 clients, including more than ten Fortune 500 companies [33] - The company maintained its position as the top exporter of valve components in China, with significant delivery volumes in nuclear power equipment [33] Research and Development - R&D expenses increased by 16.20% to ¥109,485,508.94 year-over-year [41] - The company is actively involved in national key research and development projects, collaborating with top research institutions [31] Environmental Compliance - The company has implemented environmental protection measures, ensuring that emissions of pollutants comply with relevant standards [72] - The company has established a wastewater treatment system that meets the discharge standards, with no instances of exceeding pollutant discharge limits [75] - The company has effectively managed solid waste, ensuring compliance with storage and disposal standards, with no instances of exceeding storage limits [75] - The company has implemented an emergency response plan for environmental incidents, enhancing its ability to manage and mitigate potential environmental emergencies [82] Corporate Governance - The company has not disclosed any plans for profit distribution or capital reserve transfer to increase share capital during the reporting period [7] - There are no significant non-operating fund occupation situations by controlling shareholders or related parties [8] - The company reported no significant litigation or arbitration matters during the reporting period [61] - There were no major related party transactions disclosed during the reporting period [65] Shareholder Information - The total number of common shareholders as of the end of the reporting period was 24,581 [91] - The largest shareholder, Huoshan Yingliu Investment Management Co., Ltd., held 132,732,130 shares, representing 27.20% of total shares [91] - The company has not proposed any profit distribution or capital reserve conversion plans for the half-year period, indicating a focus on retaining earnings [52] Financial Management - The company completed a private placement in November 2019, which may dilute earnings per share and return on equity due to the expanded share capital and net assets [47] - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period [62] - The company has a total of CNY 1,630,840,560 in capital reserves, with no changes reported during the period [154] Risk Factors - The company faces risks from fluctuations in raw material prices, particularly scrap steel, stainless steel, and nickel, which could impact pricing stability and operational performance [47] - The company is exposed to exchange rate risks due to exports denominated in USD, GBP, and EUR, which may adversely affect operations if the RMB fluctuates significantly [47] - The company acknowledges the ongoing risks associated with the COVID-19 pandemic, which could impact downstream demand and international operations if not controlled effectively [47]

Financial Performance - Operating revenue decreased by 15.55% to CNY 424,374,788.66 year-on-year[12] - Net profit attributable to shareholders increased by 1.26% to CNY 38,114,048.31 compared to the same period last year[12] - Basic earnings per share decreased by 11.11% to CNY 0.08 compared to CNY 0.09 in the same period last year[12] - The company reported a net profit of CNY 891,012,393.67, up from CNY 852,898,345.36, representing an increase of approximately 4.5%[30] - Total operating revenue for Q1 2020 was $424.37 million, a decrease of 15.5% compared to $502.50 million in Q1 2019[41] - Net profit for Q1 2020 was $31.93 million, a decline of 6.5% from $34.29 million in Q1 2019[44] - The total profit for Q1 2020 was $34.68 million, down 10.5% from $38.88 million in Q1 2019[41] - The total comprehensive income for the first quarter of 2020 was CNY 24,657,574.73, a decrease from CNY 25,229,354.88 in the same period of 2019[51] Assets and Liabilities - Total assets increased by 7.91% to CNY 8,038,519,475.41 compared to the end of the previous year[12] - Total liabilities increased to CNY 3,828,557,437.98 from CNY 3,273,612,490.68, representing a growth of approximately 16.9% year-over-year[30] - Total assets reached CNY 6,001,686,375.88, up from CNY 5,189,786,342.08, indicating an increase of about 15.6% year-over-year[35] - Current liabilities totaled CNY 2,449,145,381.16, compared to CNY 1,711,735,071.29, showing an increase of approximately 43.0%[35] - Shareholders' equity rose to CNY 4,209,962,037.43 from CNY 4,175,341,024.31, a slight increase of about 0.8%[30] Cash Flow - Net cash flow from operating activities was negative at CNY -87,356,948.09, a significant decline from CNY 87,902,232.87 in the previous year[12] - Cash received from other operating activities increased by 38.74% to 2,555.74 from 1,842.13, attributed to government subsidies and recovered deposits[20] - Cash received from borrowings surged by 293.06% to 148,258.11 from 37,719.04 due to increased bank loans[20] - Cash inflow from operating activities totaled CNY 427,714,607.80, down from CNY 582,962,676.07 year-over-year[54] - Total cash outflow from operating activities was CNY 1,154,202,940.21, compared to CNY 543,643,260.85 in the same period of 2019[55] - The net cash flow from financing activities was CNY 605,064,306.32, compared to a negative CNY 514,617,416.43 in the first quarter of 2019[54] Expenses - Employee compensation decreased by 43.20% to 40,169,531.27 from 70,726,765.10 due to reduced payments this period[20] - Sales expenses decreased by 32.82% to 851.49 from 1,267.42, reflecting a corresponding decrease in income[20] - Tax expenses decreased by 40.19% to 274.31 from 458.66, primarily due to an increase in deferred tax assets[20] - Research and development expenses increased to $57.39 million in Q1 2020, up 27% from $45.22 million in Q1 2019[41] - Cash paid for dividends and interest decreased by 35.61% to 2,852.36 from 4,429.57, reflecting reduced interest payments this period[20] Shareholder Information - The number of shareholders at the end of the reporting period was 26,851[14] - The largest shareholder, Huoshan Yingliu Investment Management Co., Ltd., holds 27.20% of the shares[14] Government Support - Government subsidies recognized in the current period amounted to CNY 16,051,280.07[14] - Other income increased by 46.43% to 1,605.13 from 1,096.14, mainly due to increased government subsidies received[20] Financial Ratios - The weighted average return on net assets increased by 0.07 percentage points to 1.05%[12]

Financial Performance - The company's operating revenue for 2019 was CNY 1,860,466,263.02, representing a 10.66% increase compared to CNY 1,681,215,677.58 in 2018[24] - The net profit attributable to shareholders for 2019 was CNY 130,684,191.09, a significant increase of 78.67% from CNY 73,140,761.35 in 2018[24] - The net profit after deducting non-recurring gains and losses was CNY 84,156,328.30, which is a 192.64% increase compared to CNY 28,758,113.88 in 2018[24] - The net cash flow from operating activities for 2019 was CNY 436,917,534.81, up 13.84% from CNY 383,803,119.95 in 2018[24] - Basic earnings per share increased by 76.47% to CNY 0.30 in 2019 compared to CNY 0.17 in 2018[26] - The net profit attributable to shareholders for Q1 2019 was CNY 37,641,137.98, while Q4 2019 saw a decrease to CNY 24,254,273.24[29] - The company reported a net cash flow from operating activities of CNY 87,902,232.87 in Q1 2019, significantly higher than CNY 18,409,345.50 in Q4 2019[29] Assets and Liabilities - The total assets at the end of 2019 were CNY 7,448,953,514.99, a decrease of 7.67% from CNY 8,067,993,064.98 at the end of 2018[24] - The net assets attributable to shareholders increased by 24.81% to CNY 3,596,227,676.43 from CNY 2,881,264,052.81 at the end of 2018[24] - Total assets decreased from RMB 8,067,993,064.98 to RMB 7,448,953,514.99, while total liabilities decreased from RMB 4,591,470,838.38 to RMB 3,273,612,490.68, resulting in a reduction of the debt-to-asset ratio from 56.91% to 43.95%[148] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.81 per 10 shares, totaling CNY 39,524,928.97 for the year 2019[6] - The company reported a cash dividend of 0.81 yuan per 10 shares for 2019, totaling approximately 39.52 million yuan, which represents 30.24% of the net profit attributable to ordinary shareholders[86] Research and Development - The company's R&D expenses increased by 21.58% to RMB 240,531,785.18 from RMB 197,838,651.46, reflecting a strong commitment to innovation[45] - The company’s R&D expenditure increased by 50.24% to 24,414.56 million, driven by development costs for turboshaft engines and small helicopters[67] - Total R&D expenses amounted to 322,176,635.05, representing 17.32% of total revenue, with a year-on-year increase of 21.58% in expense[57] Market and Product Development - The company is focusing on extending its industrial and value chains, particularly in high-tech products for nuclear energy and aerospace[35] - The aerospace sector saw a significant revenue increase of 102.80%, with sales reaching RMB 17,781.65 million, indicating strong demand for high-temperature alloy components[46] - The nuclear energy materials and components segment reported a revenue increase of 16.73% to RMB 25,745.17 million, showcasing growth in this critical area[46] - The company has established itself as a key supplier in the international aerospace engine and gas turbine industry, with its products used in various models of engines and turbines[41] Risks and Challenges - The company faces risks from fluctuations in raw material prices, particularly for scrap steel and nickel, which could impact operational stability[81] - The company is exposed to exchange rate risks due to its export sales denominated in foreign currencies such as USD, GBP, and EUR[81] - The company acknowledges the ongoing risks posed by the COVID-19 pandemic, which could affect downstream industry demand and international customer operations[81] Governance and Compliance - The company has established a comprehensive governance structure to protect shareholder rights, ensuring timely and accurate information disclosure[115] - The company guarantees the accuracy and completeness of the prospectus, accepting legal responsibility for any false statements or omissions[89] - The company has implemented a performance evaluation mechanism for senior management, assessing their performance quarterly and at the end of the fiscal year[189] Environmental Responsibility - The company adheres to environmental protection standards, with no significant pollution issues reported in its production processes[118] - Wastewater treatment processes meet local standards, with no exceedance of pollutant discharge limits[118] - The company has implemented effective measures to manage solid waste, ensuring compliance with hazardous waste disposal regulations[119] Employee and Workforce Management - The company employed a total of 4,474 staff, including 781 in the parent company and 3,693 in major subsidiaries[175] - The workforce consists of 2,943 production personnel, 1,055 technical personnel, and 84 sales personnel[176] - The company has established a dynamic salary management system to motivate employees, with frontline staff on a skill-based and piece-rate pay system[177]

Financial Performance - Net profit attributable to shareholders of the listed company reached CNY 106,429,917.85, an increase of 52.79% year-on-year[18]. - Operating income for the period was CNY 1,421,987,937.89, reflecting a growth of 10.99% compared to the same period last year[18]. - The net profit after deducting non-recurring gains and losses was CNY 78,044,326.12, up 53.41% year-on-year[18]. - Basic earnings per share rose to CNY 0.25, representing a growth of 56.25% compared to the same period last year[21]. - Net profit for Q3 2019 was ¥38,749,749.99, up 200.5% from ¥12,878,471.38 in Q3 2018[55]. - Total profit for Q3 2019 reached ¥41,634,603.40, an increase from ¥14,002,211.40 in Q3 2018[55]. - The company reported a total comprehensive income of ¥34,562,021.52 for Q3 2019, compared to ¥11,619,254.21 in Q3 2018[60]. - The company’s total operating revenue for the first three quarters of 2019 was ¥1,421,987,937.89, a 10.9% increase from ¥1,281,242,445.10 in the same period of 2018[51]. Cash Flow - The net cash flow from operating activities increased significantly to CNY 418,508,189.26, up 125.72% year-on-year[18]. - Cash received from sales and services rose by 33.44% to CNY 1,554,178,304.94, reflecting a significant increase in revenue[28]. - Cash flow from operating activities for the first three quarters of 2019 was CNY 1.84 billion, an increase from CNY 1.39 billion in the same period of 2018[72]. - Total cash inflow from operating activities reached ¥2,270,512,878.78, up from ¥1,386,761,335.48 in the previous year, indicating a growth of approximately 64%[74]. - The cash flow from tax refunds received was ¥104,099,114.13, significantly higher than ¥53,791,896.50 in the same period last year, showing an increase of about 93%[74]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 8,037,762,907.86, a decrease of 0.37% compared to the end of the previous year[18]. - Total liabilities decreased from 4,591,470,838.38 to 4,483,391,450.27, a reduction of approximately 2.4%[42]. - Current liabilities decreased from 3,642,534,787.85 to 3,544,906,045.09, a decrease of about 2.7%[42]. - Long-term liabilities due within one year increased by 50.83% to CNY 478,522,724.00, mainly due to the transfer of long-term loans maturing[28]. - Total equity increased from 3,476,522,226.60 to 3,554,371,457.59, reflecting an increase of approximately 2.2%[42]. Investments and Expenses - Research and development expenses increased by 45.94% to CNY 148,462,676.16, driven by higher spending on new technologies for high-temperature components and digital processing techniques[28]. - Investment income surged by 146.40% to CNY 922,141.70, attributed to higher dividends from Huishang Bank[28]. - Research and development expenses for Q3 2019 were ¥54,242,038.89, down 15.2% from ¥64,013,679.29 in Q3 2018[51]. - The company’s financial expenses for Q3 2019 were ¥30,926,820.76, slightly down from ¥31,283,670.67 in Q3 2018[51]. Shareholder Information - The total number of shareholders at the end of the reporting period was 28,818[22]. - Unappropriated profits increased from 397,032,905.36 to 454,565,793.62, reflecting an increase of approximately 14.5%[50]. Future Outlook - The company expects a net profit growth of 70%-90% for 2019 compared to 2018, driven by rapid growth in the "two machines" and nuclear energy business segments[31]. - The company plans to continue expanding its market presence and investing in new technologies[66].

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 951,601,375.99, representing a 15.32% increase compared to CNY 825,217,744.76 in the same period last year[18]. - The net profit attributable to shareholders of the listed company reached CNY 70,085,857.65, up 23.05% from CNY 56,957,959.85 year-on-year[18]. - The net cash flow from operating activities significantly increased by 258.97%, amounting to CNY 355,471,113.91 compared to CNY 99,024,586.50 in the previous year[18]. - Basic earnings per share for the first half of 2019 were CNY 0.16, reflecting a 23.08% increase from CNY 0.13 in the same period last year[20]. - The company reported an operating profit of CNY 74.64 million, reflecting a 16.27% increase year-on-year[34]. - The net profit attributable to the parent company was CNY 70.09 million, which is a 23.05% increase compared to the same period last year[34]. - The company reported a net loss of CNY 18,217,682.32 for the period[109]. Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 8,095,519,809.01, a slight increase of 0.34% from CNY 8,067,993,064.98 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased by 2.56%, reaching CNY 2,954,948,709.47 compared to CNY 2,881,264,052.81 at the end of the previous year[19]. - The asset-liability ratio stood at 56.24% as of June 2019, indicating a relatively high level of debt[45]. - Total liabilities were reported at RMB 4,552,615,383.96, down from RMB 4,591,470,838.38, indicating a decrease of approximately 0.84%[83]. Cash Flow - Cash inflows from operating activities amounted to CNY 1,256,079,029.93, an increase from CNY 845,300,568.20 in the same period last year[97]. - The ending balance of cash and cash equivalents was CNY 425,327,707.20, a decrease from CNY 169,678,505.70 in the first half of 2018[102]. - The net cash flow from operating activities was CNY 595,806,355.98, compared to a negative CNY 276,018,485.11 in the first half of 2018, indicating a turnaround in performance[101]. Research and Development - Research and development expenses surged by 149.81% to ¥94,220,637.27 from ¥37,717,168.13, indicating a significant investment in innovation[37]. - Research and development expenses surged to CNY 94,220,637.27, a significant increase of 150.0% compared to CNY 37,717,168.13 in the first half of 2018[90]. Shareholder Information - The company did not distribute any dividends or bonus shares for the reporting period, with a profit distribution plan indicating zero shares or cash per 10 shares[47]. - The largest shareholder, Huoshan Yingliu Investment Management Co., Ltd., holds 132,732,130 shares, accounting for 30.60% of the total shares[74]. - The total number of ordinary shareholders reached 31,133 by the end of the reporting period[73]. Environmental and Social Responsibility - The company has established a wastewater treatment station that meets the first-level discharge standards, with a total COD discharge of 1.589 tons during the reporting period[59]. - The company has implemented measures to control noise levels, maintaining daytime noise levels between 59.6 to 64.3 dB and nighttime levels between 49.7 to 51.3 dB, in compliance with the relevant standards[61]. - The company has conducted environmental monitoring, with all pollutants meeting national standards and no exceedances reported during the 2019 monitoring[64]. Accounting Policies and Compliance - The financial statements have been approved by the board of directors on August 30, 2019, ensuring compliance and transparency in reporting[115]. - The company adheres to accounting standards, ensuring that its financial statements accurately reflect its financial position and operating results[121]. - The company has implemented new accounting standards effective from January 1, 2018, with no impact on the opening financial data[184]. Related Party Transactions - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[5]. - The company has a long-term commitment to ensure that any related party transactions are conducted fairly and in accordance with market principles[49]. Market Position and Strategy - The company exports to 30 countries and serves nearly 100 clients, including over ten Fortune 500 companies[29]. - The company is focusing on technology innovation and has multiple national and provincial-level technology innovation platforms[28]. - The company is actively involved in the localization of nuclear power, oil and gas equipment, and aerospace engines, positioning itself as a key supplier in these sectors[29].

Financial Performance - Operating revenue increased by 23.46% to CNY 502,502,998.93 year-on-year[12] - Net profit attributable to shareholders rose by 14.76% to CNY 37,641,137.98 compared to the same period last year[12] - The company reported a net profit excluding non-recurring gains and losses of CNY 26,959,725.04, an increase of 5.57% year-on-year[12] - Total operating revenue for Q1 2019 reached ¥502,502,998.93, an increase of 23.4% compared to ¥407,013,831.68 in Q1 2018[39] - Net profit for Q1 2019 was ¥34,294,312.98, compared to ¥33,046,493.52 in Q1 2018, indicating a growth of 3.8%[42] - The company's operating revenue for Q1 2019 was CNY 556,953,755.72, an increase from CNY 433,364,662.03 in Q1 2018, representing a growth of approximately 28.5%[44] - The net profit for Q1 2019 was CNY 26,540,658.48, down from CNY 51,527,119.11 in Q1 2018, indicating a decline of about 48.7%[44] Assets and Liabilities - Total assets decreased by 5.29% to CNY 7,640,819,709.45 compared to the end of the previous year[12] - Cash and cash equivalents decreased by 37.81% to ¥1,017,912,537.02 from ¥1,636,860,770.73, primarily due to repayment of bank loans[18] - Total liabilities decreased from ¥4,591,470,838.38 to ¥4,143,702,918.96, a reduction of about 9.8%[30] - Total equity increased from ¥3,476,522,226.60 to ¥3,497,116,790.49, a growth of approximately 0.6%[30] - Total current liabilities include short-term borrowings of CNY 1,752,626,444.00 and accounts payable of CNY 154,928,259.37[68] - Total liabilities amount to approximately $2.66 billion[70] - Total equity stands at approximately $2.56 billion[70] Cash Flow - Net cash flow from operating activities decreased by 0.89% to CNY 87,902,232.87 year-to-date[12] - Cash received from sales and services increased by 33.03% to ¥535,193,426.57 from ¥402,315,272.16, primarily due to an increase in sales revenue[21] - Cash flow from operating activities for Q1 2019 was CNY 870,252,296.26, a significant increase from CNY 97,732,144.82 in Q1 2018, reflecting a growth of approximately 789%[52] - The company reported a total cash inflow from operating activities of CNY 1,413,895,557.11 in Q1 2019, which is more than three times the CNY 415,774,620.23 recorded in Q1 2018, indicating strong operational performance[52] - The net cash flow from financing activities in Q1 2019 was -CNY 240,367,104.60, a decline from -CNY 149,217,656.83 in Q1 2018, indicating a worsening cash position in financing[55] Shareholder Information - The number of shareholders reached 33,220 at the end of the reporting period[15] - The largest shareholder, Huoshan Yingliu Investment Management Co., Ltd., holds 30.60% of the shares[15] - Basic and diluted earnings per share remained stable at CNY 0.08[12] Research and Development - Research and development expenses increased by 184.60% to ¥45,216,098.69 from ¥15,887,486.44, driven by various technology development projects[18] - Research and development expenses increased significantly to ¥45,216,098.69 in Q1 2019, up from ¥15,887,486.44 in Q1 2018, representing a growth of 184.5%[39] - Research and development expenses increased significantly to CNY 19,033,143.00 in Q1 2019, compared to CNY 8,054,136.17 in Q1 2018, reflecting a growth of approximately 136.5%[44] Government Subsidies - Government subsidies recognized in the current period amounted to CNY 10,961,412.94[14] - Other income increased by 31.78% to ¥10,961,412.94 from ¥8,317,982.10, primarily due to an increase in government subsidies[18]

Financial Performance - The company's operating revenue for 2018 was CNY 1,681,215,677.58, representing a 22.29% increase compared to CNY 1,374,764,469.92 in 2017[23]. - The net profit attributable to shareholders of the listed company was CNY 73,140,761.35, up 21.55% from CNY 60,172,662.91 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was CNY 28,758,113.88, a decrease of 28.54% compared to CNY 40,245,362.02 in 2017[25]. - Basic earnings per share increased by 21.43% to CNY 0.17 in 2018 compared to CNY 0.14 in 2017[26]. - The net profit attributable to shareholders for Q3 2018 was CNY 12,698,306.81, a decrease from CNY 24,158,850.52 in Q2 2018[27]. - The company reported a net profit for the year of CNY 82,450,352.05, compared to CNY 59,698,199.29 in the previous year, representing a growth of 37.9%[199]. - The net profit attributable to shareholders of the parent company is 73,140,761.35, up from 60,172,662.91, reflecting a growth of about 21.5%[200]. Cash Flow and Assets - The net cash flow from operating activities was CNY 383,803,119.95, an increase of 119.75% from CNY 174,656,017.69 in 2017[25]. - Cash received from operating activities increased by 125.92% to 449.43 million yuan, mainly due to the recovery of guarantee deposits and increased government subsidies[64]. - Cash and cash equivalents increased to ¥1,636,860,770.73, representing 20.29% of total assets, up 129.27% from the previous period[69]. - Total assets at the end of 2018 were CNY 8,067,993,064.98, an 18.92% increase from CNY 6,784,467,279.54 in 2017[25]. - The total current assets increased to CNY 3,666,948,371.85 from CNY 2,679,640,529.91, representing a growth of approximately 36.8%[189]. - Total liabilities increased to CNY 4,591,470,838.38 from CNY 3,892,526,943.34, representing a growth of about 18.0%[192]. Research and Development - Research and development expenses surged by 300.64% to CNY 48,477,650.82, reflecting the company's commitment to innovation[45]. - Total R&D investment amounted to 318.91 million yuan, with 194.22 million yuan expensed and 124.69 million yuan capitalized[59]. - R&D investment accounted for 18.97% of operating revenue, with R&D personnel making up 17.10% of total staff[62]. - The company is focusing on automation, digitalization, and green manufacturing technologies to drive innovation and competitiveness in the industry[78]. - The company plans to accelerate technology innovation and product development, particularly in high-temperature alloy components for aircraft engines and gas turbines, as well as nuclear energy materials[80]. Dividends and Shareholder Information - The company plans to distribute a cash dividend of CNY 0.51 per 10 shares, totaling CNY 22,121,471.39[6]. - The company distributed cash dividends of 0.51 RMB per 10 shares in 2018, totaling approximately 22.12 million RMB, which represents 30.25% of the net profit attributable to ordinary shareholders[89]. - The total number of ordinary shareholders decreased from 33,220 to 31,288 during the reporting period[131]. - The top shareholder, Huoshan Yingliu Investment Management Co., Ltd., holds 132,732,130 shares, representing 30.60% of the total shares[135]. Risk Management and Compliance - The company has detailed potential risks in its management discussion and analysis section, which investors should review[8]. - The company faces risks related to fluctuations in raw material prices, exchange rate changes, and industry market conditions that could impact operational stability[84]. - The company has committed to avoid direct or indirect competition with its subsidiaries, ensuring no competitive activities will occur domestically or internationally[92]. - The company has established a risk management system to safeguard shareholder interests and ensure operational transparency[116]. Environmental and Social Responsibility - The company adheres to a "green casting" environmental protection philosophy, implementing advanced equipment and clean production techniques to minimize ecological impact[118]. - The company emphasizes social responsibility, ensuring timely and accurate information disclosure to protect shareholder rights[116]. - Waste gas emissions from Yingliu Foundry comply with the national standards, with no exceedance reported in pollutant discharge[118]. - The company has established a safety production committee to oversee compliance with safety regulations and improve workplace safety standards[117]. Audit and Internal Controls - The company has received a standard unqualified audit report from Tianjian Accounting Firm[5]. - The audit report concluded that the financial statements fairly reflect the company's financial position and operating results for 2018[178]. - The company confirmed that there were no significant deficiencies in internal controls during the reporting period[178]. - Management is responsible for ensuring the financial statements are prepared in accordance with accounting standards and for maintaining necessary internal controls[185].

Financial Performance - Operating revenue for the first nine months rose by 21.56% to CNY 1,281,242,445.10 year-on-year[6] - Net profit attributable to shareholders increased by 3.52% to CNY 69,656,266.66 for the same period[6] - Basic and diluted earnings per share both increased by 6.67% to CNY 0.16[7] - Total revenue for Q3 2018 reached ¥527,829,837.57, a 41% increase compared to ¥374,550,699.51 in the same period last year[29] - Net profit for Q3 2018 was ¥11,200,773.68, up 31% from ¥8,573,041.23 in Q3 2017[30] - The total profit for the first nine months of 2018 was ¥87,572,762.31, compared to ¥41,438,592.15 in the same period last year, indicating strong growth[30] - The total comprehensive income for the first nine months of 2018 was CNY 72,193,023.09, compared to CNY 32,403,389.22 in the same period last year, representing a significant increase[31] Asset Management - Total assets increased by 8.07% to CNY 7,331,967,753.94 compared to the end of the previous year[6] - The total assets reached ¥7,331,967,753.94, up from ¥6,784,467,279.54, indicating overall growth[18] - Total assets as of September 30, 2018, amounted to ¥4,806,928,857.26, down from ¥5,003,805,853.35 at the beginning of the year[22] - Long-term equity investments were eliminated from the balance sheet, resulting in a 100% decrease, as the subsidiary Tianjin Hangyu was consolidated[13] - Investment properties increased by 150.93% to ¥7,683,627.45, attributed to the consolidation of Tianjin Hangyu's investment properties[13] Cash Flow - Net cash flow from operating activities decreased by 9.59% to CNY 133,063,168.78 compared to the previous year[6] - Cash inflows from operating activities amounted to CNY 1,333,716,023.49, up from CNY 1,169,809,892.20 year-on-year, indicating a growth of approximately 14.0%[33] - The net cash flow from operating activities was CNY 133,063,168.78, a decrease from CNY 147,181,634.94 in the previous year, reflecting a decline of about 9.6%[33] - Cash inflows from financing activities totaled CNY 2,925,850,739.37, an increase from CNY 2,398,101,330.00, representing a growth of about 22.0%[34] - The net cash flow from financing activities was CNY 166,222,174.58, compared to CNY 102,114,974.69 in the previous year, indicating an increase of approximately 62.9%[34] Shareholder Information - The number of shareholders reached 31,578 by the end of the reporting period[10] - The company has a significant shareholder, Huoshan Yingliu Investment Management Co., Ltd., holding 30.60% of shares[10] Expenses and Liabilities - Research and development expenses surged by 115.81% to ¥101,730,847.42, driven by increased spending on high-temperature components and new processing technologies[13] - Interest expenses rose by 49.04% to ¥113,610,173.45, mainly due to increased borrowing rates[13] - Total liabilities increased to ¥2,262,194,290.56 from ¥2,515,009,283.31 at the beginning of the year, indicating a decrease of 10.0%[23] Other Financial Metrics - Cash and cash equivalents decreased to ¥312,548,539.67 from ¥468,088,344.68 at the beginning of the year, a decline of 33.3%[21] - Other receivables increased by 208.29% to ¥9,962,131.81, mainly due to increased employee social security and provident fund advances[13] - Other current assets decreased by 55.79% to ¥38,018,447.96, primarily due to the receipt of VAT refunds from the government[13] - Deferred income increased by 44.22% to ¥146,448,700.99, reflecting higher government subsidies received[13]