Financial Performance - The company's operating revenue for Q1 2022 was CNY 274,104,997.03, representing a year-on-year increase of 12.39%[3] - The net profit attributable to shareholders decreased by 32.16% to CNY 12,161,813.25 compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 37.12% to CNY 11,023,012.62[3] - Basic and diluted earnings per share were both CNY 0.09, a decrease of 35.71% compared to the previous year[3] - Total operating revenue for Q1 2022 was ¥274,104,997.03, an increase of 12.38% compared to ¥243,887,504.04 in Q1 2021[14] - Net profit for Q1 2022 was ¥12,114,065.87, a decrease of 32.36% from ¥17,972,365.09 in Q1 2021[15] - Earnings per share for Q1 2022 was ¥0.09, down from ¥0.14 in Q1 2021[15] - The company reported a total profit of ¥14,740,308.94 for Q1 2022, down from ¥21,110,869.87 in Q1 2021[14] Cash Flow - The net cash flow from operating activities was CNY 14,222,666.00, down 29.58% year-on-year[3] - Cash flow from operating activities for Q1 2022 was ¥14,222,666.00, a decrease of 29.54% compared to ¥20,196,718.10 in Q1 2021[18] - The net cash flow from investing activities was $39,702,840.71, compared to a negative cash flow of $16,359,629.92 in the previous year[19] - Total cash and cash equivalents at the end of the period reached $269,369,571.19, up from $316,580,041.43 year-over-year[19] - The net cash flow from financing activities was -$515,485.43, compared to -$15,304.69 in the previous year[19] - The net increase in cash and cash equivalents for the period was $53,384,493.68, compared to $3,913,249.21 in the previous year[19] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,269,748,604.16, a slight increase of 0.12% from the end of the previous year[4] - The company's total assets amounted to RMB 1,269,748,604.16, slightly increasing from RMB 1,268,264,779.79 at the end of December 2021[10] - The company's cash and cash equivalents reached RMB 271,424,939.94, up from RMB 218,064,431.61 at the end of December 2021, indicating a growth of approximately 24.5%[10] - Accounts receivable decreased to RMB 117,511,307.57 from RMB 135,198,269.02, reflecting a decline of about 13.1%[10] - Inventory stood at RMB 202,841,134.25, showing a slight decrease from RMB 205,587,334.07, a reduction of approximately 1.2%[10] - The company's total current liabilities were RMB 236,250,000.00, with a notable increase in accounts payable to RMB 76,170,159.45 from RMB 90,146,607.79, a decrease of about 15.5%[11] - Non-current assets totaled RMB 466,065,260.50, slightly increasing from RMB 463,995,529.77, indicating a growth of approximately 0.2%[11] - The total liabilities of the company were RMB 236,250,000.00, with a notable increase in other payables to RMB 21,523,232.81 from RMB 31,302,981.51, a decrease of approximately 31.2%[11] Shareholder Information - Shareholders' equity attributable to the parent company increased by 1.56% to CNY 796,264,631.19[4] - The total number of ordinary shareholders at the end of the reporting period was 12,193[7] - Total equity as of Q1 2022 was ¥797,967,276.68, an increase from ¥785,793,972.36 in the previous year[12] Operational Insights - The decline in net profit was primarily due to increased depreciation from new fixed assets and rising costs of raw materials and energy[5] - The company has not reported any significant new product developments or market expansion strategies in the current quarter[9] - Research and development expenses for Q1 2022 were ¥9,058,755.37, slightly down from ¥9,117,373.28 in Q1 2021[14] Accounting Standards - The company has not adopted the new accounting standards starting from 2022[19]

Financial Performance - In 2021, the company's operating revenue reached ¥1,138,090,441.42, representing a 56.20% increase compared to ¥728,629,452.26 in 2020[21] - The net profit attributable to shareholders of the listed company was ¥78,616,536.39, an increase of 88.19% from ¥41,774,517.62 in the previous year[21] - The net profit after deducting non-recurring gains and losses was ¥58,728,644.50, up 103.16% from ¥28,907,507.63 in 2020[21] - The company's total assets increased by 10.15% to ¥1,268,264,779.79 at the end of 2021, compared to ¥1,151,436,796.44 at the end of 2020[21] - The company reported a 9.14% increase in net assets attributable to shareholders, reaching ¥784,043,579.49 at the end of 2021[21] - The weighted average return on equity increased to 10.48%, up 4.53 percentage points from the previous year[23] - Basic earnings per share rose to 0.60 RMB, an increase of 87.50% compared to the previous year[23] - The company achieved a net profit attributable to shareholders of 58.73 million yuan, a year-on-year increase of 103.16%[34] Cash Flow and Assets - The net cash flow from operating activities decreased by 68.42% to ¥30,057,515.60 in 2021, down from ¥95,184,387.33 in 2020[21] - The company reported a net cash flow from operating activities of 26.92 million RMB in the fourth quarter[25] - Cash and cash equivalents decreased by 32.71% to ¥218,064,431.61, accounting for 17.19% of total assets[66] - Accounts receivable increased by 98.35% to ¥119,261,250.61, representing 9.40% of total assets[66] - Inventory rose by 79.67% to ¥205,587,334.07, making up 16.21% of total assets due to rising raw material prices and increased scale[66] - Fixed assets increased by 78.50% to ¥253,861,643.77, accounting for 20.02% of total assets due to the transfer of construction projects to fixed assets[66] Sales and Market Performance - The company sold 15.98 million compressor motors in 2021, marking an 18.37% increase from the previous year and setting a new historical high[33] - Global refrigerator and freezer sales reached 21.05 million units in 2021, with a year-on-year growth of 8.5%[33] - The domestic market for refrigerators showed stable performance with a total sales volume of 57.69 million units, up 3.8% year-on-year[38] - China's refrigerator and freezer industry sales volume was 125.81 million units in 2021, growing by 3.4% year-on-year[38] Research and Development - Research and development expenses totaled 45.38 million yuan, representing a year-on-year growth of 38.65%[35] - The company is focusing on enhancing the efficiency and energy-saving capabilities of compressor motors, with current COP values exceeding 2.0[75] - The company is committed to increasing R&D investment to support product improvements in the coming years[80] Corporate Governance and Compliance - The company held 4 supervisory board meetings during the reporting period, complying with relevant laws and regulations[88] - A total of 48 temporary announcements and 4 periodic reports were disclosed during the reporting period, ensuring transparency and compliance with information disclosure requirements[89] - The company maintains a complete independent business and operational capability, with strict separation from the controlling shareholder in personnel, assets, finance, and operations[88] - The board of directors and supervisory board operate independently, ensuring governance structure compliance with regulations[90] Shareholder and Dividend Information - The company plans to submit the profit distribution proposal to the 2021 annual general meeting for approval[5] - The company implemented a cash dividend policy, distributing 2.00 CNY per 10 shares to shareholders, amounting to a total cash dividend of 20% of the distributable profit for 2021[118] - The company committed to a cash dividend of no less than 20% of the distributable profit each year, ensuring a consistent return to shareholders[118] Future Outlook and Strategy - The company plans to continue leveraging market opportunities and enhancing production capacity to sustain growth[32] - The outlook for 2022 indicates potential downward pressure on the global refrigerator market due to economic uncertainties and rising raw material costs[39] - The company aims to break the market monopoly of foreign motor manufacturers in the commercial refrigeration compressor motor sector[75] - The company is focusing on high-end variable frequency markets, commercial markets, and vehicle-mounted mobile refrigeration markets to enhance competitiveness[78] Environmental and Social Responsibility - The company established a rooftop photovoltaic power generation project with a capacity of 4 megawatts, generating approximately 4 million kWh of solar power in 2021, contributing to reduced carbon emissions[129] - The company donated 30,000 CNY to support the construction of a primary school in Qingtian County, Zhejiang Province, as part of its social responsibility efforts[131]

Financial Performance - The company's operating revenue for Q3 2021 was CNY 288,494,345.76, representing a year-on-year increase of 57.38%[3] - The net profit attributable to shareholders for Q3 2021 was CNY 14,098,062.68, up 56.43% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2021 was CNY 12,728,074.05, an increase of 62.13% year-on-year[3] - Total operating revenue for the first three quarters of 2021 reached ¥849,242,513.54, a significant increase of 65.1% compared to ¥514,100,698.44 in the same period of 2020[17] - Net profit for the third quarter of 2021 was ¥63,651,235.96, representing a 100.0% increase from ¥31,764,055.05 in the same quarter of 2020[19] - The company reported a total comprehensive income of ¥63,651,235.96 for the third quarter of 2021, compared to ¥31,764,055.05 in the same quarter of 2020[20] Earnings and Shareholder Information - The basic earnings per share for Q3 2021 was CNY 0.11, a 57.14% increase compared to the same period last year[4] - Basic and diluted earnings per share for the third quarter of 2021 were both ¥0.49, compared to ¥0.24 in the same quarter of 2020[20] - The company reported a total of 9,155 common shareholders at the end of the reporting period[9] - The largest shareholder, Dibai Holdings Co., Ltd., held 62,176,109 shares, accounting for 47.82% of the total shares[9] Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,224,169,012.32, reflecting a 6.32% increase from the end of the previous year[4] - As of September 30, 2021, total assets amounted to RMB 1,224,169,012.32, an increase from RMB 1,151,436,796.44 at the end of 2020, reflecting a growth of approximately 6.3%[13] - Total liabilities as of the end of the third quarter of 2021 amounted to ¥453,050,221.65, up from ¥430,995,582.30 at the end of the previous year[18] - Total liabilities were not explicitly stated, but current liabilities included accounts payable of RMB 80,888,594.84, up from RMB 57,180,493.58, an increase of approximately 41.2%[14] - The company’s total equity is implied to have increased due to the rise in total assets and the management of liabilities[14] Cash Flow - The net cash flow from operating activities for the year-to-date period was CNY 3,138,386.32, down 96.76% year-on-year[3] - The net cash flow from operating activities was $3,138,386.32, a significant decrease from $96,868,520.61 in the previous year, indicating a decline of approximately 96.8%[22] - Cash inflow from operating activities for the first three quarters of 2021 was ¥409,898,998.28, an increase from ¥326,397,340.75 in the same period of 2020[21] - Total cash outflow from operating activities amounted to $406,760,611.96, compared to $229,528,820.14 in the same quarter last year, representing an increase of about 77.3%[22] - The company experienced a net decrease in cash and cash equivalents of $110,031,776.76, compared to a decrease of $39,672,684.62 in the same quarter last year[22] Inventory and Receivables - Current assets totaled RMB 766,464,477.91, compared to RMB 734,181,572.89 at the end of 2020, indicating an increase of about 4.4%[13] - Inventory increased significantly to RMB 202,288,780.97 from RMB 114,425,208.98, representing an increase of approximately 76.6%[13] - Accounts receivable rose to RMB 136,288,597.70 from RMB 107,305,779.82, marking an increase of around 27.0%[13] Research and Development - Research and development expenses for the first three quarters of 2021 were ¥31,037,792.30, compared to ¥19,482,915.54 in the same period of 2020, reflecting a 59.2% increase[18] Future Guidance - The company did not provide specific guidance for future performance or new product developments in the conference call[11]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥560,748,167.78, representing a year-on-year increase of 69.52% due to increased sales volume and price hikes of motor products[16]. - The net profit attributable to shareholders of the listed company was ¥49,450,540.68, a significant increase of 117.93% compared to the same period last year[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses surged by 224.22% to ¥36,659,441.95, primarily due to a low base from the previous year affected by the pandemic[16]. - The basic earnings per share for the first half of 2021 was ¥0.38, reflecting a 123.53% increase year-on-year[16]. - Operating revenue for the period was 560.75 million yuan, a 69.52% increase from 330.79 million yuan in the same period last year[30]. - The company reported a total profit of ¥58,899,953.30 for the first half of 2021, up from ¥27,100,482.87 in the same period of 2020, reflecting an increase of approximately 117.0%[87]. - The company’s total comprehensive income for the first half of 2021 was ¥49,547,708.44, compared to ¥22,677,923.64 in the same period of 2020, indicating an increase of approximately 118.1%[88]. Cash Flow and Assets - The net cash flow from operating activities decreased by 76.11% to ¥15,992,926.85, mainly due to reduced government subsidies and tax refunds received, along with increased cash payments for raw material purchases[16]. - Cash and cash equivalents decreased by 26.58% to 237.92 million yuan, attributed to increased payments for materials and wages[32]. - Inventory increased by 94.22% to 222.24 million yuan, mainly due to rising raw material prices and increased stock levels[32]. - The total assets of the company increased by 10.09% to ¥1,267,583,285.18 compared to the end of the previous year[16]. - Current assets totaled CNY 673,501,325.87, an increase from CNY 516,944,032.77, reflecting a growth of approximately 30.3%[83]. - The company reported a total cash and cash equivalents balance of CNY 229,599,312.45 at the end of June 2021, down from CNY 234,854,007.17 at the end of June 2020[94]. Market Position and Sales - The company has a strong market position, being a leading supplier of compressor motors with a complete product range covering household, light commercial, and heavy commercial sectors[24]. - The company sold 8.1 million compressor motors during the reporting period, a historical high compared to 5.91 million units in the same period last year[27]. - The commercial market, particularly central air conditioning, experienced a significant recovery with a 44% year-on-year growth in the first half of 2021[23]. - The company achieved sales revenue of CNY 253,261,601.72 from goods and services, an increase of 35.0% compared to CNY 187,400,379.34 in the same period last year[93]. Research and Development - The company invested 18.96 million in R&D during the reporting period and holds a total of 72 authorized patents, including 10 invention patents[25]. - Research and development expenses rose by 62.33% to 18.96 million yuan, reflecting increased investment in R&D[30]. Risks and Challenges - The company faces risks from rising production costs, particularly in labor and raw materials like silicon steel, copper, and aluminum, which are influenced by economic conditions and supply-demand dynamics[37]. - The company is exposed to exchange rate fluctuations due to its import and export trade primarily settled in USD and EUR, which may increase its foreign exchange risk[39]. Corporate Governance and Compliance - The company has established a robust governance structure, including a shareholders' meeting, board of directors, and supervisory board, to ensure effective management[108]. - The company has not faced any environmental penalties during the reporting period, adhering to various environmental protection laws[46]. - The company is committed to environmental protection by ensuring that pollutants are discharged within standards and is actively researching energy-efficient compressor motors[47]. Shareholder Information - The total number of unrestricted circulating shares is 130,007,245, which represents 100% of the total shares after the recent change[58]. - The largest shareholder, Dibe Holdings Limited, holds 62,176,109 shares, accounting for 47.83% of the total shares[63]. - The total number of shareholders at the end of the reporting period is 8,408[61]. Taxation and Financial Policies - The company has a corporate income tax rate of 15% for itself, while other subsidiaries have rates ranging from 20% to 25%[191]. - The company benefits from a tax deduction for R&D expenses, allowing a 100% deduction for expenses not forming intangible assets and a 200% deduction for those that do[192].

Financial Performance - Operating revenue for the period reached CNY 243,887,504.04, representing an 87.80% increase year-on-year[8] - Net profit attributable to shareholders was CNY 17,926,983.41, up 25.88% from the same period last year[8] - Net profit excluding non-recurring gains and losses surged by 366.88% to CNY 17,531,326.09 compared to the previous year[8] - Total operating revenue for Q1 2021 reached ¥243,887,504.04, a significant increase of 87.6% compared to ¥129,867,953.57 in Q1 2020[30] - Net profit for Q1 2021 was ¥17,972,365.09, up 26.5% from ¥14,210,837.86 in Q1 2020[31] - Operating profit for Q1 2021 was ¥21,110,510.98, compared to ¥17,218,715.05 in Q1 2020, reflecting a growth of 22.0%[31] - The company reported a gross profit margin of approximately 9.0% for Q1 2021, compared to 1.2% in Q1 2020[30] Assets and Liabilities - Total assets increased by 7.96% to CNY 1,243,141,030.66 compared to the end of the previous year[8] - The company reported a significant increase in other receivables by 42.43% to CNY 1,836,168.60 due to increased export tax refunds and UL certification fees[14] - Current liabilities rose to ¥275,559,187.16 from ¥204,678,489.59, marking an increase of about 35%[22] - Non-current liabilities totaled ¥229,167,418.27, up from ¥226,317,092.71, indicating a slight increase of around 1%[23] - Total liabilities increased to ¥504,726,605.43 from ¥430,995,582.30, reflecting a growth of approximately 17%[23] - Shareholders' equity reached ¥738,414,425.23, up from ¥720,441,214.14, showing an increase of about 2.5%[23] Cash Flow - Cash flow from operating activities decreased by 50.88% to CNY 20,196,718.10 compared to the same period last year[8] - Cash flow from operating activities decreased by 50.88% to ¥20,196,718.10, mainly due to reduced government subsidies received[16] - The net cash flow from operating activities for Q1 2021 was ¥20,196,718.10, down 50.9% from ¥41,120,900.76 in Q1 2020[38] - The cash inflow from operating activities for the parent company was ¥119,218,295.75 in Q1 2021, compared to ¥92,320,235.16 in Q1 2020, reflecting a growth of 29.1%[41] - The net cash flow from operating activities for the parent company was ¥22,704,035.95 in Q1 2021, down from ¥42,211,884.59 in Q1 2020[41] Shareholder Information - The number of shareholders reached 8,836 at the end of the reporting period[12] - The largest shareholder, Dibai Holdings Co., Ltd., holds 47.83% of the shares[12] Research and Development - Research and development expenses increased by 71.79% to ¥9,117,373.28, reflecting a commitment to innovation and product development[15] - Research and development expenses increased to ¥9,117,373.28, representing a 71.5% rise from ¥5,307,313.42 in the same period last year[30] Inventory and Accounts Payable - Inventory levels rose to ¥179,294,146.77, a 56.69% increase year-on-year, attributed to rising raw material prices and increased stock[15] - The company reported a significant increase in accounts payable, which rose by 57.67% to ¥90,156,568.02, indicating higher material purchases[15] - Inventory increased significantly to ¥167,550,718.80 from ¥106,775,496.69, a growth of about 57%[26] - Accounts receivable grew to ¥114,040,935.33 from ¥104,879,798.35, reflecting an increase of approximately 8.5%[26] Other Financial Metrics - The weighted average return on equity increased by 0.41 percentage points to 2.46%[8] - Investment income increased by 70.33% to ¥308,902.30, primarily due to higher returns from financial products[15] - The company signed an agreement to recover assets valued at ¥22,990,000, with the first payment of ¥13,794,000 received[17] - The company received a total of ¥70,000,000.00 from maturing financial products, marking a 483.33% increase compared to the previous period[16] - The company recorded other income of ¥106,299.74 in Q1 2021, a decrease from ¥12,122,771.74 in Q1 2020[30] - Financial expenses for Q1 2021 amounted to ¥1,750,536.08, compared to a financial income of ¥1,827,507.12 in Q1 2020[30] - The company experienced a credit impairment loss of ¥-345,589.59 in Q1 2021, an improvement from ¥-1,602,727.09 in Q1 2020[30]

Financial Performance - In 2020, the company's operating revenue reached ¥728,629,452.26, representing a 5.36% increase compared to ¥691,588,115.08 in 2019[23]. - The net profit attributable to shareholders was ¥41,774,517.62, a slight increase of 1.84% from ¥41,021,500.26 in the previous year[23]. - The net profit after deducting non-recurring gains and losses decreased by 23.05% to ¥28,907,507.63 from ¥37,568,007.53 in 2019[23]. - The net cash flow from operating activities improved significantly by 40.47%, totaling ¥95,184,387.33 compared to ¥67,762,830.82 in 2019[23]. - Basic earnings per share decreased by 21.95% to CNY 0.32 in 2020 compared to CNY 0.41 in 2019[24]. - The net profit attributable to shareholders for the fourth quarter was CNY 10,071,331.98, with a total annual net profit decrease of 23.05% after excluding non-recurring gains and losses[27]. - The weighted average return on equity decreased by 0.48 percentage points to 5.95% in 2020 from 6.43% in 2019[24]. - The company reported a significant increase in net cash flow from operating activities, amounting to CNY 95.18 million, a 40.47% increase compared to the previous year[49]. - The company achieved a revenue of 850 million yuan and a net profit of 55.27 million yuan in 2020[86]. - The company reported a net profit margin improvement, with retained earnings increasing to CNY 323,823,785.15 in 2020 from CNY 299,644,591.70 in 2019, a growth of about 8.1%[194]. Assets and Liabilities - As of the end of 2020, the total assets amounted to ¥1,151,436,796.44, reflecting a 6.22% increase from ¥1,084,059,934.32 at the end of 2019[23]. - The total liabilities decreased by 66.67% for short-term loans, down to ¥500,000.00, reflecting a reduction in bank borrowings[65]. - The total amount of guarantees provided by the company, excluding those to subsidiaries, is 4,742,740.45 RMB, which accounts for 0.66% of the company's net assets[111]. - Current liabilities rose to CNY 204,678,489.59 in 2020, compared to CNY 182,003,009.88 in 2019, an increase of about 12.4%[193]. - Non-current liabilities totaled CNY 226,317,092.71 in 2020, up from CNY 211,137,477.46 in 2019, reflecting a growth of approximately 7.2%[193]. Research and Development - The company’s R&D innovation system focuses on continuous product upgrades, ensuring sustained technological leadership[35]. - Research and development expenses increased to CNY 32.73 million, up 17.45% year-on-year, with 10 patents applied for and 13 patents granted during the reporting period[47][49]. - The total amount of R&D investment accounted for 4.49% of operating revenue, with 126 R&D personnel representing 14.55% of the total workforce[61]. - The company is investing in research and development to stay competitive and address the evolving technology landscape in the compressor industry[91]. Market and Sales - Domestic sales of refrigerator compressors reached 15.69 million units, with a year-on-year growth of 18.5%, the highest increase in recent years[36]. - The company’s main business includes the R&D, production, and sales of household, commercial, and vehicle-mounted compressor sealing motors[32]. - The company’s commercial products are used in various applications, including ice machines and air conditioning systems, with notable brands like Gree and York[32]. - The company anticipates a retail volume growth of 2.0% and a retail revenue growth of 2.3% for the refrigerator market in 2021, supported by favorable economic policies and consumer demand for high-quality products[71]. Dividend and Shareholder Policies - The company plans to distribute a cash dividend of ¥1.00 per 10 shares to all shareholders, pending approval at the annual general meeting[5]. - The company is committed to maintaining a cash dividend policy of at least 20% of the distributable profits each year from 2020 to 2022[94]. - In 2020, the total cash dividend distributed amounted to 13,000,731.50 RMB, representing 31.12% of the net profit attributable to ordinary shareholders[96]. - The company proposed a cash dividend of 1.00 RMB per 10 shares for the 2020 fiscal year, subject to shareholder approval[95]. Corporate Governance - The company has established a comprehensive internal control system to ensure fair treatment of all shareholders, particularly minority shareholders[121]. - The company has a dedicated investor relations management system to enhance communication with investors, including a hotline for inquiries[164]. - The audit report confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2020, in all material respects[174]. - The internal control audit report issued a standard unqualified opinion, affirming the effectiveness of the company's internal controls as of December 31, 2020[170]. Risks and Challenges - The company has outlined potential risks in its future development in the report, advising investors to be cautious[9]. - The company faces risks from rising labor and raw material costs, which could impact profit margins[89]. - The company anticipates market fluctuations due to changes in downstream industry trends and competitive pressures[88]. Employee and Management Information - The total number of employees in the parent company is 821, with a combined total of 866 employees including major subsidiaries[156]. - The actual remuneration paid to directors, supervisors, and senior management in 2020 amounted to 1.4715 million yuan[154]. - The company has a total of 6 directors, including 3 independent directors, ensuring compliance with legal requirements[162]. Strategic Initiatives - The company is focusing on high-end, smart markets and free embedded markets, which are expected to drive growth in the coming years[71]. - The company plans to enhance its production capabilities through automation and digitalization, aiming for improved delivery accuracy and efficiency[83]. - The management emphasized a focus on sustainability initiatives, aiming to reduce carbon emissions by 20% over the next three years[150].

Financial Performance - Revenue for the first nine months was ¥514,100,698.44, reflecting a slight increase of 0.58% compared to the same period last year[6]. - Net profit attributable to shareholders decreased by 6.46% to ¥31,703,185.64 compared to the same period last year[6]. - Basic earnings per share decreased by 29.41% to ¥0.24, attributed to a capital reserve distribution plan[6]. - The net profit margin for Q3 2020 was approximately 4.9%, down from 7.2% in Q3 2019, reflecting pressure on profitability[28]. - The company reported a decrease in short-term borrowings to CNY 500,000.00 from CNY 1,500,000.00, a reduction of 66.7%[21]. - The total profit for Q3 2020 was approximately ¥11.57 million, down from ¥14.13 million in Q3 2019, indicating a decline of about 18.06%[33]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,094,311,332.41, an increase of 0.95% compared to the end of the previous year[6]. - Total liabilities decreased to CNY 383,950,494.00 from CNY 393,140,487.34, indicating a reduction of approximately 2.9%[21]. - Total assets increased to ¥998,666,038.20 in Q3 2020, up from ¥930,531,975.44 in Q3 2019, representing a growth of approximately 7.2%[25]. - Current liabilities totaled CNY 182,003,009.88, while non-current liabilities reached CNY 211,137,477.46, resulting in total liabilities of CNY 393,140,487.34[43]. - Total liabilities rose to ¥353,645,353.35 in Q3 2020, compared to ¥310,104,657.71 in Q3 2019, marking an increase of approximately 14.0%[25]. Cash Flow - Operating cash flow for the first nine months was ¥96,868,520.61, a significant increase of 61.85% year-on-year[6]. - Cash flow from operating activities increased by 44.05% to CNY 14,675,055.76, primarily due to higher customer payments[14]. - The net cash flow from operating activities for the first three quarters of 2020 was approximately ¥96.87 million, up 61.8% from ¥59.85 million in the first three quarters of 2019[36]. - The cash outflow for purchasing goods and services in the first three quarters of 2020 was approximately ¥146.02 million, a decrease of 3.8% from ¥151.92 million in the same period of 2019[38]. Shareholder Equity - Net assets attributable to shareholders increased by 2.81% to ¥708,317,586.30 compared to the end of the previous year[6]. - The company reported a total equity of ¥645,020,684.85 in Q3 2020, up from ¥620,427,317.73 in Q3 2019, reflecting a growth of about 4.0%[26]. - Shareholders' equity rose to CNY 710,360,838.41 from CNY 690,919,446.98, marking an increase of about 2.0%[21]. Government Subsidies and Other Income - The company received government subsidies totaling ¥12,706,001.70 during the reporting period, significantly impacting net profit figures[6]. - Other income increased by 502.97% to CNY 12,706,001.70, mainly from government subsidies[13]. - Interest income grew by 261.78% to CNY 6,959,410.05, driven by increased bank deposit interest[13]. Operational Efficiency - Accounts payable rose by 41.82% to CNY 49,960,607.26, attributed to increased payments to suppliers[12]. - Inventory stood at CNY 112,725,256.71, a slight increase from CNY 110,682,669.32 in 2019[20]. - Accounts receivable increased to CNY 102,823,726.27 from CNY 97,392,784.00, representing a growth of about 5.4%[20]. Research and Development - Research and development expenses for Q3 2020 were ¥7,801,669.67, slightly up from ¥7,322,708.33 in Q3 2019, indicating a focus on innovation[27]. - Research and development expenses for Q3 2020 were approximately ¥7.24 million, slightly down from ¥7.32 million in Q3 2019[32]. Financial Adjustments and Standards - The company executed a reclassification of "prepayments" to "contract liabilities" starting January 1, 2020, in accordance with new revenue recognition standards[43]. - The company adopted new revenue recognition standards starting January 1, 2020, adjusting "prepayments" to "contract liabilities"[47].

Financial Performance - The company's operating revenue for the first half of 2020 was approximately CNY 330.79 million, a decrease of 4.45% compared to CNY 346.18 million in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2020 was CNY 22.69 million, representing a 2.83% increase from CNY 22.07 million in the previous year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 44.47% to CNY 11.31 million, down from CNY 20.36 million in the same period last year[21]. - The basic earnings per share for the first half of 2020 was CNY 0.17, a decline of 22.73% compared to CNY 0.22 in the previous year[20]. - The weighted average return on net assets was 3.25%, a decrease of 0.27 percentage points from 3.52% in the same period last year[20]. - The company achieved a main business revenue of 307 million yuan, a year-on-year decrease of 7.37%[37]. - In the second quarter, the company realized sales revenue of 186 million yuan, a year-on-year increase of 9.43% and a quarter-on-quarter increase of 52.92%[38]. - The company reported a total profit of 11,383,803.79 RMB for the reporting period[23]. Cash Flow and Assets - The net cash flow from operating activities increased significantly by 115.62% to CNY 66.94 million, compared to CNY 31.04 million in the previous year[21]. - The total assets at the end of the reporting period were approximately CNY 1.08 billion, a slight decrease of 0.65% from the previous year-end[21]. - The net cash flow from operating activities amounted to CNY 66,936,643.63, up from CNY 31,043,889.74[108]. - Cash and cash equivalents at the end of the period were CNY 234,854,007.17, compared to CNY 127,995,428.89 at the end of the first half of 2019, showing an increase of approximately 83.4%[109]. - The company’s cash and cash equivalents decreased by 38.40% to 239,931,096.58 RMB due to increased financial investments[31]. - The total current assets decreased to ¥705,570,538.94 from ¥726,879,886.65, indicating a decline of about 2.4%[90]. Research and Development - The company invested 11.68 million RMB in R&D, representing a year-on-year increase of 2.05%[33]. - The company invested 11.68 million yuan in R&D expenses, a year-on-year increase of 2.05%, and obtained 7 patent authorizations during the reporting period[38]. Market Position and Strategy - The company has a leading market share in household variable frequency compressor motors among specialized motor manufacturers[33]. - The company aims to develop new applications in vehicle-mounted and heat pump products to achieve sustainable growth[26]. - The company is transitioning from a single motor supplier to a system solution provider, covering a full range of compressor motor products[36]. - The company established a strategic partnership with well-known compressor manufacturers such as Huayi and Danfoss, enhancing its market position[36]. Shareholder and Equity Information - The company did not distribute profits or increase capital reserves in the first half of 2020[54]. - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing[56]. - The company’s major shareholders are restricted from transferring more than 25% of their shares during their tenure as directors[56]. - The company issued 2,299,300 convertible bonds with a total amount of 22,993,000 yuan, with a maturity of 6 years[63]. - The total number of shares increased from 130,006,264 to 130,006,755 due to the conversion of convertible bonds, with minimal impact on financial metrics[78]. Risks and Challenges - The company faces market environment risks due to downstream industry trends and competition, with potential fluctuations in demand impacting future performance[49]. - Labor costs and raw material prices, including silicon steel and copper, are rising, posing production cost risks that the company aims to mitigate through automation and material efficiency[49]. - The company is closely monitoring the impacts of COVID-19 and US-China trade tensions on its export business and operational plans[50]. Compliance and Governance - There were no significant lawsuits or arbitration matters during the reporting period[60]. - The company has not engaged in any major related party transactions during the reporting period[62]. - The company has not faced any penalties or corrective actions from regulatory bodies during the reporting period[60]. - The company has ensured compliance with all court judgments and has no significant debts that are overdue[60]. Accounting Policies - The accounting policies followed by the company comply with the requirements of the enterprise accounting standards, ensuring accurate financial reporting[137]. - The company recognizes investment income for the difference between the fair value of previously held equity interests and their book value at the acquisition date in step acquisitions[145]. - The company recognizes the difference between the fair value and book value of remaining equity as profit or loss when losing joint control or significant influence over an investee[185].

Financial Performance - The net profit attributable to shareholders decreased by 63.56% year-on-year, primarily due to a decline in production and sales caused by the COVID-19 pandemic[6] - Operating revenue for the period was CNY 129.87 million, a decrease of 23.17% compared to the same period last year[6] - The net profit attributable to shareholders was CNY 14.24 million, an increase of 21.53% year-on-year[6] - The company reported a net profit of ¥249,588,734.55, an increase from ¥231,351,276.60, representing a growth of approximately 7.9%[25] - Total operating revenue for Q1 2020 was CNY 129,867,953.57, a decrease of 23.1% compared to CNY 169,025,386.46 in Q1 2019[27] - Net profit for Q1 2020 reached CNY 14,210,837.86, representing a 21.3% increase from CNY 11,717,850.81 in Q1 2019[28] - Total profit for Q1 2020 was CNY 17,218,715.05, an increase of 23.0% from CNY 13,990,465.78 in Q1 2019[28] Cash Flow - The net cash flow from operating activities increased by 101.22% year-on-year, amounting to CNY 41.12 million[6] - Cash flow from operating activities reached 41,120,900.76, representing a 101.22% increase, driven by higher customer payments and reduced supplier payments[14] - Cash inflow from operating activities for Q1 2020 was CNY 101,921,901.76, an increase of 10% compared to CNY 92,642,624.70 in Q1 2019[35] - Net cash flow from operating activities for Q1 2020 was CNY 41,120,900.76, up 101% from CNY 20,435,421.31 in Q1 2019[35] - Cash inflow from operating activities for the parent company in Q1 2020 was CNY 92,320,235.16, an increase of 10% from CNY 83,901,280.24 in Q1 2019[39] - Net cash flow from operating activities for the parent company in Q1 2020 was CNY 42,211,884.59, up 205% from CNY 13,821,537.43 in Q1 2019[39] Assets and Liabilities - Total assets increased by 2.42% compared to the end of the previous year, reaching approximately CNY 1.11 billion[6] - Total assets increased to ¥1,110,303,598.32, up from ¥1,084,059,934.32, representing a growth of approximately 2.1%[19] - Current assets totaled ¥754,344,916.42, compared to ¥726,879,886.65 in the previous period, indicating an increase of about 3.8%[19] - Total liabilities amounted to ¥405,173,313.48, up from ¥393,140,487.34, which is an increase of around 3.3%[20] - Owner's equity reached ¥705,130,284.84, compared to ¥690,919,446.98, showing a growth of about 2.0%[21] - The total current liabilities increased to ¥194,111,396.51 from ¥182,003,009.88, which is an increase of about 6.1%[20] Research and Development - Research and development expenses rose to 5,307,313.42, reflecting a 34.17% increase year-over-year, indicating a strong commitment to innovation[13] - The company plans to continue its investment in research and development to drive future growth and innovation[15] - The company plans to continue focusing on R&D to drive future growth and innovation in its product offerings[31] Financial Position - The company’s financial expenses showed a significant improvement, with a decrease of 413.90% to -1,827,507.12, attributed to increased foreign exchange gains and bank deposit interest income[13] - Financial expenses showed a significant improvement, with a net income of CNY -1,827,507.12 in Q1 2020 compared to CNY 582,191.34 in Q1 2019[27] Government Subsidies - The company received various government subsidies totaling 12,050,000, which were included in other income[15] - The company reported a total revenue of 12,122,771.74, a significant increase of 1346.67% compared to the previous period, primarily due to increased government subsidies received[13] Inventory and Accounts Payable - Inventory rose to ¥136,769,279.40 from ¥110,682,669.32, reflecting a significant increase of approximately 23.5%[19] - Accounts payable increased by 84.80% to CNY 65.10 million, primarily due to increased payments owed to suppliers[12] - The accounts payable increased significantly to ¥65,100,222.04 from ¥35,227,020.28, reflecting an increase of approximately 84.8%[20] Other Financial Metrics - The weighted average return on equity increased by 0.18 percentage points to 2.05%[6] - The company reported a basic earnings per share of CNY 0.14, up 16.67% from CNY 0.12 in the previous year[6] - Basic earnings per share for Q1 2020 were CNY 0.14, compared to CNY 0.12 in Q1 2019, reflecting a 16.7% increase[28] - The company reported a credit impairment loss of CNY -1,602,727.09 in Q1 2020, indicating a potential risk in receivables[27] Audit and Compliance - The audit report indicated no significant issues, ensuring the reliability of the financial statements[48] - The company has implemented new revenue and lease standards, which may impact future financial reporting[48]

Financial Performance - In 2019, the company's operating revenue reached CNY 691,588,115.08, representing an increase of 8.94% compared to CNY 634,858,011.57 in 2018[23] - The net profit attributable to shareholders of the listed company was CNY 41,021,500.26, a decrease of 4.23% from CNY 42,832,828.66 in the previous year[23] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 37,568,007.53, an increase of 8.76% from CNY 34,540,559.41 in 2018[23] - The net cash flow from operating activities was CNY 67,762,830.82, up 23.32% from CNY 54,949,477.32 in the previous year[23] - Basic earnings per share for 2019 decreased by 4.65% to CNY 0.41 compared to CNY 0.43 in 2018[24] - The weighted average return on equity fell to 6.43%, a decrease of 0.65 percentage points from 7.08% in 2018[24] - The net profit attributable to shareholders for Q4 2019 was CNY 7,127,690.29, significantly lower than the previous three quarters due to interest accrual of CNY 2.46 million from convertible bonds[26] - The company reported a total operating income of CNY 180,443,761.78 in Q4 2019, with a total annual operating income of CNY 689,588,115.08[26] - Non-recurring gains and losses for 2019 totaled CNY 3,453,492.73, compared to CNY 8,292,269.25 in 2018[29] - Operating revenue reached 691.59 million yuan, a year-on-year increase of 8.94%[41] - Net profit attributable to shareholders decreased by 4.23% to 41.02 million yuan, while net profit excluding non-recurring gains and losses increased by 8.76% to 37.57 million yuan[41] Assets and Liabilities - As of the end of 2019, the total assets amounted to CNY 1,084,059,934.32, reflecting a significant increase of 52.13% from CNY 712,592,214.96 at the end of 2018[23] - The net assets attributable to shareholders of the listed company were CNY 688,937,064.28, an increase of 11.11% from CNY 620,062,732.84 in 2018[23] - Total liabilities reached CNY 310,104,657.71 in 2019 from CNY 110,739,658.76 in 2018, indicating a significant rise[192] - Total equity rose to CNY 620,427,317.73 in 2019, compared to CNY 547,142,180.55 in 2018, marking an increase of 13.3%[192] - Current liabilities increased to CNY 182,003,009.88 in 2019 from CNY 88,089,368.89 in 2018, which is an increase of approximately 106.5%[187] Research and Development - The company invested 27.87 million yuan in R&D, representing a 22% increase year-on-year, and applied for 18 patents during the reporting period[41] - Research and development expenses rose by 22.09% to 27.87 million yuan, reflecting increased investment in R&D projects[52] - The total R&D investment for the period was 27.87 million yuan, accounting for 4.03% of the operating revenue[54] - The company completed the identification of 7 new products and applied for 10 provincial-level new product trial production plans[41] Market Strategy and Growth - The company plans to leverage its close relationships with downstream compressor manufacturers to enhance its market position through high-efficiency variable frequency products[32] - The company aims to develop new application products in the automotive and heat pump sectors to ensure sustainable growth[32] - The company is focusing on high-end, smart, and health-oriented products, with increasing consumer demand for appliances priced above 10,000 yuan[62] - The company aims to enhance its competitive edge by focusing on high-end products and quality customers, particularly in the variable frequency and commercial markets[72] - The company plans to achieve a product upgrade from "single motor body" to "motor + control system solutions" to expand its market share in high-end household and commercial refrigeration[72] Risk Management - The company has outlined potential risks in its future development, which are detailed in the report[9] - The company faces market environment risks due to potential fluctuations in demand caused by the COVID-19 pandemic, leading to uncertainty in future sales orders[75] - Labor costs and raw material prices (silicon steel, copper, aluminum) are significant production cost risks, with a noted upward trend in labor costs[75] Shareholder and Governance - The company plans to distribute a cash dividend of CNY 1.24 per 10 shares (including tax) to all shareholders, pending approval at the annual general meeting[7] - The company intends to increase its capital by converting reserves into shares at a ratio of 3 shares for every 10 shares held, subject to shareholder approval[7] - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of its IPO, with an automatic extension of the lock-up period if certain price conditions are met[83] - Major shareholders are restricted from transferring more than 25% of their shares annually during their tenure as directors[85] - The company has established a self-regulatory mechanism to monitor compliance with these commitments[87] Audit and Compliance - The company has received a standard unqualified audit report from its accounting firm, ensuring the accuracy of its financial statements[6] - The audit report states that the financial statements fairly reflect the company's financial position as of December 31, 2019[170] - The company maintained effective internal control over financial reporting, as confirmed by an independent audit with no significant deficiencies noted[169] Employee and Management - The company has implemented a talent strategy focusing on employee health, safety, and satisfaction, alongside skills training programs[117] - The total remuneration paid to directors, supervisors, and senior management in 2019 amounted to 1.4521 million yuan[149] - The company employed a total of 808 staff members, including 685 production personnel and 11 sales personnel[151] - The company has established a targeted training system to enhance employee skills and promote a learning-oriented environment[154]