Financial Performance - The company's operating revenue for the first half of 2022 reached ¥926,980,486.52, representing a 29.15% increase compared to ¥717,737,988.64 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2022 was ¥142,848,460.40, an increase of 80.28% from ¥79,236,191.87 in the previous year[19]. - The basic earnings per share for the first half of 2022 was ¥0.46, up 76.92% from ¥0.26 in the same period last year[20]. - The weighted average return on equity increased to 7.07%, up by 2.76 percentage points from 4.31% in the previous year[20]. - The net cash flow from operating activities for the first half of 2022 was -¥94,300,897.61, an improvement of 52.96% compared to -¥200,472,798.79 in the same period last year[19]. - The total assets at the end of the reporting period were ¥2,920,451,580.34, a 3.38% increase from ¥2,825,009,016.59 at the end of the previous year[19]. - The net assets attributable to shareholders at the end of the reporting period were ¥2,029,715,793.69, reflecting a 4.17% increase from ¥1,948,375,495.15 at the end of the previous year[19]. Market and Industry Trends - The demand for food freezing equipment is increasing due to rising consumer demand for convenient and frozen food products, driven by lifestyle changes and higher living standards[24]. - The company is experiencing growth in the cold chain equipment market, supported by government initiatives to enhance agricultural product storage and logistics infrastructure[25]. - The government has emphasized the construction of cold chain logistics facilities, which is expected to boost the market for freezing equipment and related technologies[26]. - The tank container industry is projected to have a positive long-term outlook, driven by its efficiency and environmental benefits in transporting liquid and gaseous products[28]. - The domestic demand for tank containers is on the rise, driven by the rapid development of industries such as new energy and semiconductors[30]. Research and Development - The company has established a strong R&D platform, including multiple laboratories and partnerships with renowned universities, enhancing its product development capabilities[31]. - The company is focusing on technological innovation, having developed a large linear tunnel frying machine to meet the needs of the pre-prepared food market[35]. - The company added 29 new patent authorizations during the reporting period, including 2 invention patents and 26 utility model patents[37]. Environmental Responsibility - The company strictly adhered to environmental regulations, achieving compliance with the "Pollutant Discharge Permit" without any environmental incidents or penalties during the reporting period[56]. - Wastewater treatment processes included "acid-base neutralization, coagulation, complexation, and sedimentation," with treated water meeting the "Comprehensive Wastewater Discharge Standards" before entering the municipal sewage system[57]. - The company actively promoted clean energy initiatives, including distributed photovoltaic power generation projects, contributing to a reduction in solid waste disposal[64]. - The company maintained a commitment to environmental responsibility, with no administrative penalties related to environmental issues reported during the period[63]. Risk Management - The company faced various risks including policy risks, international trade environment risks, and raw material price fluctuations, which were detailed in the report[7]. - The fluctuation in raw material prices, especially stainless steel, poses a risk to cost control and profitability, prompting the company to enhance supplier collaboration and material utilization[49]. - The company is actively monitoring customer creditworthiness to mitigate the risk of bad debts as sales increase, which is crucial for maintaining financial health[50]. Corporate Governance - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[7]. - The company has maintained a good integrity status, with no unfulfilled court judgments or significant overdue debts[72]. - There were no significant lawsuits or arbitration matters during the reporting period[72]. Financial Position - The company's cash and cash equivalents decreased to ¥614,523,833.65 from ¥694,767,240.24[90]. - Total current assets increased to ¥2,003,351,211.28 from ¥1,898,290,470.64[90]. - Inventory increased to ¥1,068,341,393.64 from ¥924,631,306.19[90]. - The total accounts receivable rose to ¥41,181,132.84 from ¥40,683,540.49[90]. - The total non-current assets include fixed assets valued at ¥640,815,591.69, down from ¥661,474,753.05[90]. Accounting Policies - The company’s financial statements comply with the requirements of the enterprise accounting standards, reflecting its financial status and operating results accurately[129]. - The company has no significant doubts regarding its ability to continue as a going concern for the next 12 months[127]. - The company’s accounting policies are tailored to its operational characteristics, including specific policies for financial instruments and asset depreciation[128]. Revenue Recognition - The company recognizes revenue based on the progress of performance obligations, confirming revenue when control of goods or services is transferred to the customer[183]. - For contracts with variable consideration, the company estimates the best estimate of variable consideration using either expected value or most likely amount[185]. - The company confirms revenue for domestic sales when products are delivered and accepted by the buyer, and payment rights are established[185].

Financial Performance - The company's operating revenue for Q1 2022 was ¥452,898,386.81, representing a year-on-year increase of 43.57%[5] - The net profit attributable to shareholders for the same period was ¥48,058,790.75, reflecting a growth of 41.98% compared to the previous year[5] - The basic earnings per share for Q1 2022 was ¥0.16, which is an increase of 45.45% year-on-year[6] - Total revenue for Q1 2022 reached ¥452.90 million, a 43.6% increase from ¥315.46 million in Q1 2021[19] - Operating profit for Q1 2022 was ¥53.53 million, up 40.6% from ¥38.06 million in Q1 2021[20] - Net profit for Q1 2022 was ¥48.06 million, representing a 42.0% increase compared to ¥33.85 million in Q1 2021[20] - The company reported a total comprehensive income of ¥47.64 million for Q1 2022, compared to ¥34.07 million in Q1 2021[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,860,079,298.81, a slight increase of 1.24% from the end of the previous year[6] - As of March 31, 2022, the total assets of the company amounted to CNY 2,860,079,298.81, an increase from CNY 2,825,009,016.59 at the end of 2021, reflecting a growth of approximately 1.24%[15] - The company's current assets totaled CNY 1,944,399,520.41, compared to CNY 1,898,290,470.64 at the end of 2021, indicating an increase of about 2.43%[16] - The total liabilities decreased to CNY 864,058,941.66 from CNY 876,633,521.44, representing a decline of approximately 1.44%[17] - The company's equity attributable to shareholders rose to CNY 1,996,020,357.15, up from CNY 1,948,375,495.15, marking an increase of around 2.45%[18] - The total current liabilities amounted to CNY 728,509,057.13, a decrease from CNY 741,551,233.90, indicating a reduction of approximately 1.76%[17] Cash Flow - The net cash flow from operating activities was ¥40,410,628.45, showing a significant decrease of 134.75% compared to the same period last year[5] - Cash flow from operating activities for Q1 2022 was ¥40.41 million, a significant improvement from a negative cash flow of ¥116.28 million in Q1 2021[23] - Cash and cash equivalents at the end of Q1 2022 totaled ¥723.56 million, compared to ¥702.68 million at the end of Q1 2021[24] - Cash and cash equivalents increased to CNY 735,602,088.45 from CNY 694,767,240.24, showing a growth of approximately 5.88%[15] - The cash flow from financing activities decreased by 59.88%, attributed to increased cash payments for debt repayment[10] Research and Development - The company reported a 38.50% increase in R&D expenses, indicating a focus on innovation and product development[10] - Research and development expenses increased to ¥20.08 million in Q1 2022, up 38.8% from ¥14.50 million in Q1 2021[19] Other Financial Metrics - The weighted average return on equity rose to 2.44%, an increase of 31.89 percentage points from the previous year[6] - The company experienced a 51.22% increase in other payables, primarily due to an increase in received deposits[9] - The company recorded a 115.45% increase in fair value gains, mainly due to the rise in the fair value of forward foreign exchange contracts[10] - The company's inventory stood at CNY 912,883,993.79, slightly down from CNY 924,631,306.19, reflecting a decrease of about 1.27%[16] - The accounts receivable decreased to CNY 36,239,499.24 from CNY 40,683,540.49, indicating a decline of approximately 10.93%[15] - The company reported a net profit of CNY 1,149,962,576.31 in retained earnings, an increase from CNY 1,101,903,785.56, representing a growth of about 4.36%[18] - The company's contract liabilities increased to CNY 409,436,309.58 from CNY 390,238,869.51, reflecting a growth of about 4.00%[17] - Total operating costs for Q1 2022 were ¥401.23 million, a 43.2% increase from ¥279.99 million in Q1 2021[19] - The company experienced a foreign exchange loss of ¥426.51 thousand in Q1 2022, contrasting with a gain of ¥219.93 thousand in Q1 2021[21]

Financial Performance - The company's operating revenue for 2021 was CNY 1,649,915,319.04, representing a 49.56% increase compared to CNY 1,103,203,106.18 in 2020[21]. - The net profit attributable to shareholders for 2021 was CNY 168,767,513.78, a 58.55% increase from CNY 106,447,554.94 in 2020[21]. - The basic earnings per share for 2021 was CNY 0.55, reflecting a 61.76% increase compared to CNY 0.34 in 2020[22]. - The net profit after deducting non-recurring gains and losses for 2021 was CNY 150,772,667.52, a 52.58% increase from CNY 98,816,113.05 in 2020[21]. - The net profit attributable to shareholders for Q4 2021 was CNY 37.96 million, with a total annual net profit of CNY 168.77 million[31]. - The total revenue for Q4 2021 was CNY 503.86 million, marking a steady increase throughout the year[31]. - The company achieved a main business revenue of ¥1,583,699,596.53, an increase of 47.66% compared to the previous year, driven by economic recovery and product innovation[51]. - The company reported a net cash flow from operating activities increase due to higher sales revenue and order volume, alongside rising steel prices impacting cash payments for goods and services[50]. - The company reported a significant increase in sales revenue from services, totaling approximately ¥1.74 billion in 2021, compared to ¥1.16 billion in 2020, representing a growth of about 50%[198]. Assets and Liabilities - The company's total assets as of the end of 2021 were CNY 2,825,009,016.59, a 13.86% increase from CNY 2,481,126,362.31 at the end of 2020[21]. - The net assets attributable to shareholders at the end of 2021 were CNY 1,948,375,495.15, a 7.63% increase from CNY 1,810,283,529.43 at the end of 2020[21]. - Total assets at the end of the current period were 924,631,306.19, representing 32.73% of total assets, an increase of 67.87% from the previous period due to expanded sales scale[65]. - Total liabilities grew to ¥876,633,521.44 in 2021, up from ¥670,842,832.88 in 2020, indicating an increase of around 30.7%[184]. - Short-term borrowings increased to 144,117,740.00, accounting for 5.10% of total liabilities, reflecting a rise in short-term financing needs[65]. Research and Development - The company’s research and development expenses amounted to CNY 69,238,899.04, reflecting a 15.34% increase compared to the previous year[49]. - The company successfully developed B1 grade PIR polyurethane metal-faced sandwich panels for cold storage and vaccine storage through its subsidiary, Sifang Energy, and applied for 56 new patents while obtaining 60 new authorizations, totaling 245 valid patents by December 31, 2021[33]. - The company is focusing on technological innovation and product market positioning to build a differentiated competitive advantage[75]. - New product development for 2022 includes tunnel frying machines and new spiral freezing machines, focusing on market needs and customer customization[77]. Market Trends and Demand - The demand for freezing equipment is rapidly increasing due to the growing consumer preference for convenient and frozen food products, driven by lifestyle changes and rising living standards[35]. - The company is responding to market needs by launching various freezing devices, including spiral, tunnel, and plate freezing equipment, to meet the demands of the fast-developing food industry[36]. - The tank container industry is expected to grow due to its advantages in logistics for liquid and gaseous products, aligning with modern supply chain requirements[39]. - The company aims to expand its market presence in the frozen food sector and special container products, particularly in new materials and renewable energy sectors[76]. Risk Management - The company faced various risks including policy risks, international trade environment risks, and raw material price fluctuation risks, which were detailed in the report[8]. - The company recognizes risks such as policy changes, international trade environment, raw material price fluctuations, and product price competition that could impact operations[80][81]. - The company will implement measures to mitigate risks from raw material price volatility by enhancing supplier collaboration and material utilization[80]. - The company will strengthen its foreign exchange risk management due to reliance on USD for export transactions[81]. Governance and Compliance - The company is committed to improving its governance structure and ensuring compliance with relevant laws and regulations[84]. - The company emphasizes the importance of internal control and risk management to ensure effective operations and safeguard stakeholder interests[86]. - The internal control audit report issued by Tianjian Accounting Firm received a standard unqualified opinion, confirming the effectiveness of the internal control system[116]. - The company has maintained a strong governance structure, with no issues requiring rectification identified during self-inspection[116]. Employee Management - The company has a total of 1,403 employees, with 662 in the parent company and 741 in major subsidiaries[107]. - The employee composition includes 903 production personnel, 92 sales personnel, 184 technical personnel, and 28 financial personnel[108]. - The company has established a salary management system to align employee compensation with performance and company benefits[109]. - A total of 17 management personnel were promoted, and 19 technical personnel achieved skill level upgrades in 2021[110]. Environmental Responsibility - The company has invested in environmental protection facilities, including a wastewater treatment capacity of 100,000 m³/a, ensuring compliance with discharge standards[120]. - The company has implemented a new organic waste gas treatment device, achieving compliance with pollutant discharge standards during the reporting period[120]. - The company has actively promoted photovoltaic power generation projects, resulting in a reduction in solid waste disposal during the reporting period[126]. - The company has developed a comprehensive emergency response plan for environmental pollution incidents, ensuring efficient handling of potential emergencies[123].

Financial Performance - The company's revenue for Q3 2021 reached ¥428,313,303.10, representing a year-over-year increase of 54.90%[5] - Net profit attributable to shareholders was ¥51,568,906.83, up 36.94% compared to the same period last year[5] - Basic earnings per share for the quarter were ¥0.17, a decrease of 6.77% from the previous year[6] - Total operating revenue for the first three quarters of 2021 reached ¥1,146,051,291.69, a significant increase from ¥831,589,153.33 in the same period of 2020, representing a growth of approximately 37.8%[20] - Net profit for the first three quarters of 2021 was ¥130,805,098.70, compared to ¥96,480,434.40 in 2020, reflecting a growth of approximately 35.5%[21] - The total comprehensive income for the first three quarters of 2021 was ¥130,543,428.54, up from ¥95,696,952.02 in 2020, representing an increase of approximately 36.4%[22] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥2,775,533,155.84, reflecting an increase of 11.87% from the end of the previous year[6] - The company's current assets totaled CNY 1,859,885,646.00, up from CNY 1,549,652,979.41 in the previous year[16] - The total liabilities rose to CNY 867,226,121.45 from CNY 670,842,832.88[18] - The company's equity attributable to shareholders reached CNY 1,908,307,034.39, an increase from CNY 1,810,283,529.43[18] Cash Flow - Cash flow from operating activities showed a negative net amount of ¥-232,695,665.83, indicating a decline of 216.07%[6] - Cash flow from operating activities showed a net outflow of ¥232,695,665.83 in 2021, contrasting with a net inflow of ¥200,471,875.70 in 2020[23] - Cash flow from investing activities resulted in a net outflow of ¥43,766,378.10 in 2021, compared to a net outflow of ¥121,535,163.97 in 2020, indicating a reduction in investment losses[23] - Cash flow from financing activities generated a net inflow of ¥177,801,169.30 in 2021, compared to a net outflow of ¥164,570,108.71 in 2020, showing improved financing conditions[23] Inventory and Costs - The company reported a significant increase in inventory by 58.35%, attributed to the rise in materials and finished goods[10] - Total operating costs for the first three quarters of 2021 were ¥1,008,149,433.00, up from ¥725,739,547.70 in 2020, indicating an increase of about 38.9%[20] - Research and development expenses increased to ¥50,504,340.29 in 2021 from ¥39,188,732.72 in 2020, marking a rise of about 29%[20] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 17,380[12] - The top shareholder, Huang Jie, holds 40.27% of the shares, totaling 124,596,915 shares[12] - The company has a total of 9,435,829 shares held by the top shareholder, which is a significant portion of the total shares[13] Other Information - The company implemented the new leasing standards starting in 2021, with no adjustments needed for the consolidated financial statements[24] - The financial report was presented by Huang Jie, with Huang Hua responsible for accounting work[24] - The report was officially announced by the board of directors on October 15, 2021[25]

Financial Performance - The company's operating revenue for the first half of 2021 reached approximately ¥717.74 million, representing a 29.30% increase compared to ¥555.07 million in the same period last year[18]. - Net profit attributable to shareholders was approximately ¥79.24 million, up 34.71% from ¥58.82 million in the previous year[18]. - Basic earnings per share increased by 36.84% to ¥0.26 from ¥0.19 in the same period last year[18]. - The weighted average return on net assets rose to 4.31%, an increase of 0.97 percentage points compared to 3.34% in the previous year[18]. - Total profit and net profit attributable to shareholders reached 87.964 million yuan and 79.236 million yuan, respectively, with year-on-year increases of 30.94% and 34.71%[34]. - The company achieved operating revenue of 717.738 million yuan in the first half of 2021, representing a year-on-year growth of 29.30%[34]. - The company reported a significant increase in research and development expenses, totaling ¥35,048,064.66, up from ¥27,788,471.41 in the same period last year[93]. - The company reported a total cash and cash equivalents balance of RMB 562,622,090.11 at the end of June 2021, down from RMB 760,724,518.49 at the end of June 2020[101]. Cash Flow and Liquidity - The net cash flow from operating activities showed a significant decline, with a net outflow of approximately ¥200.47 million, compared to a net inflow of ¥61.30 million in the previous year, marking a decrease of 427.05%[18]. - The cash flow from operating activities showed a net outflow of RMB 200,472,798.79, a significant decline from a net inflow of RMB 61,297,851.04 in the first half of 2020[100]. - Cash and cash equivalents increased to CNY 568,722,173.95 from CNY 835,135,640.45, indicating a decrease in liquidity[85]. - The ending balance of cash and cash equivalents was CNY 60,919,322.71, compared to CNY 49,113,286.67 at the end of the previous year, representing a 24.0% increase[105]. Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥2.52 billion, a 1.65% increase from ¥2.48 billion at the end of the previous year[18]. - The total assets of the company amounted to RMB 217,063,381.63, while net assets were RMB 180,706,939.77[47]. - Total liabilities decreased to CNY 665,644,755.18 from CNY 670,842,832.88, showing a reduction in financial obligations[87]. - The company reported a decrease in contract liabilities to CNY 342,652,453.33 from CNY 373,386,297.00, a reduction of approximately 8.2%[86]. Market and Business Development - The main business includes the research, production, and sales of food freezing equipment and tank containers, with a focus on rapid freezing equipment and cold storage systems[23]. - The demand for food freezing equipment is increasing due to rising consumer demand for convenient and frozen food products, leading to a growing market for freezing equipment[24]. - The company is actively developing various freezing devices, including spiral, tunnel, and plate freezing equipment, to meet the needs of the rapidly growing food industry[25]. - The tank container market is experiencing an upward trend due to policies encouraging multi-modal transport and subsidies for using tank containers[29]. - The company has established stable partnerships with global top ten logistics and leasing companies in the tank container industry, enhancing its market position[36]. Risks and Challenges - The company has identified various risks including policy risks, international trade environment risks, and raw material price fluctuation risks, which investors should be aware of[7]. - The company faces risks including raw material price fluctuations, with significant increases in stainless steel prices impacting operational performance[48]. - The company has implemented measures to mitigate risks from international trade environment and currency fluctuations, focusing on strategic supplier partnerships and market demand[49]. Environmental and Quality Control - The company actively participated in initiatives to reduce ozone-depleting substances, aligning with environmental regulations and industry standards[39]. - The company received the Jiangsu Province Quality Credit AA rating and the Nantong Mayor Quality Award, enhancing its product quality control capabilities[37]. - The company has invested in environmental protection measures, including a wastewater treatment facility with a capacity of 100,000 m³/a[56]. - The company emphasizes the importance of customer credit assessment to manage accounts receivable risks as sales increase[49]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 18,066[77]. - The largest shareholder, Huang Jie, holds 124,596,915 shares, representing 40.27% of the total shares[79]. - The company has not reported any overdue guarantees or significant related party transactions[74][71]. Corporate Governance - The company has maintained good integrity status, with no unfulfilled court judgments or significant debts overdue[67]. - The company has reappointed Tianjian Accounting Firm as the auditing institution for the 2021 fiscal year[67]. - The company has committed to not engage in any competing business with its own products or services[63].

Financial Performance - Operating revenue for the period was ¥315,462,281.95, representing a growth of 51.76% year-on-year[7]. - Net profit attributable to shareholders was ¥31,756,841.78, marking a significant increase of 71.16% compared to the same period last year[7]. - Basic earnings per share increased to ¥0.11, up 57.14% from ¥0.07 in the previous year[7]. - The company's operating revenue for Q1 2021 was CNY 315,462,281.95, representing a 51.76% increase compared to CNY 207,871,245.32 in Q1 2020, primarily due to sales growth[15]. - Net profit for Q1 2021 was ¥33,849,561.72, representing a 62.0% increase compared to ¥20,889,583.38 in Q1 2020[27]. - The total comprehensive income for Q1 2021 was CNY 34,069,495.44, compared to CNY 21,443,308.96 in Q1 2020, representing an increase of approximately 58.7%[28]. - Operating profit for Q1 2021 was ¥38,059,688.18, up 50.5% from ¥25,265,896.72 in Q1 2020[27]. - The total operating profit for Q1 2021 was CNY 26,544,275.39, compared to CNY 8,588,074.60 in Q1 2020, marking an increase of 209.5%[29]. Cash Flow - Cash flow from operating activities showed a net outflow of ¥116,279,017.22, worsening by 69.47% compared to the previous year[7]. - The net cash flow from operating activities for Q1 2021 was a loss of CNY 116,279,017.22, which is a 69.47% increase in loss compared to CNY 68,613,632.98 in Q1 2020, mainly due to increased cash payments for goods and services[15]. - The company experienced a significant increase in cash inflow from operating activities, totaling CNY 366,500,660.20 in Q1 2021, compared to CNY 236,399,749.86 in Q1 2020[31]. - Total cash outflow from operating activities in Q1 2021 was $184,294,620.66, compared to $104,322,470.95 in Q1 2020, marking a 76.7% increase[34]. - The net cash flow from investment activities was -$33,489,005.82 in Q1 2021, an improvement from -$55,675,110.57 in Q1 2020[35]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥2,503,492,881.44, an increase of 0.90% compared to the end of the previous year[7]. - The company's total assets as of March 31, 2021, were CNY 2,503,492,881.44, compared to CNY 2,481,126,362.31 as of December 31, 2020, indicating a slight increase[19]. - Total liabilities increased to ¥303,714,557.07 in Q1 2021 from ¥280,394,072.60 in Q4 2020[23]. - Current assets totaled ¥329,098,946.07, up from ¥307,350,336.48 at the end of 2020[22]. - Total current liabilities decreased to CNY 630,288,846.99 from CNY 641,540,230.80, reflecting a reduction in short-term obligations[20]. Shareholder Information - The total number of shareholders reached 19,493 at the end of the reporting period[12]. - The largest shareholder, Huang Jie, holds 40.27% of the shares, totaling 124,596,915 shares[12]. Research and Development - Research and development expenses for Q1 2021 were ¥14,496,884.79, compared to ¥11,521,998.65 in Q1 2020, reflecting a 25.7% increase[26]. - Research and development expenses for Q1 2021 were CNY 5,283,937.42, a slight increase from CNY 5,216,138.87 in Q1 2020[28]. Earnings and Returns - The weighted average return on equity rose to 1.85%, an increase of 0.66 percentage points from the previous year[7]. - The diluted earnings per share also stood at ¥0.11, reflecting the same growth rate of 57.14% as the basic earnings per share[7]. - Basic and diluted earnings per share for Q1 2021 were both CNY 0.11, compared to CNY 0.07 in Q1 2020, reflecting a growth of 57.1%[28].

Financial Performance - The company's operating revenue for 2020 was approximately ¥1.10 billion, a decrease of 6.13% compared to ¥1.18 billion in 2019[21]. - The net profit attributable to shareholders for 2020 was approximately ¥106.45 million, down 17.78% from ¥129.47 million in 2019[21]. - The basic earnings per share for 2020 was ¥0.34, a decline of 19.05% from ¥0.42 in 2019[22]. - The cash flow from operating activities for 2020 was approximately ¥239.25 million, a decrease of 35.18% compared to ¥369.10 million in 2019[21]. - The weighted average return on equity for 2020 was 6.00%, down from 7.64% in 2019, a decrease of 1.64 percentage points[22]. - The gross profit margin for the main business was 21.05%, down 1.22 percentage points from the previous year, primarily due to a decrease in production of tank containers and rising labor and manufacturing costs[47]. - The company reported a significant decrease in sales expenses by 43.71% to CNY 21.06 million, attributed to the implementation of new revenue recognition standards[56]. - The total operating revenue for 2020 was ¥1,103,203,106.18, a decrease of 6.13% compared to the previous year[43]. - The net profit attributable to shareholders was CNY 10,644,760, a decline of 17.78% year-on-year, while the net profit excluding non-recurring gains and losses decreased by 23.51% to CNY 9,881,610[43]. Assets and Liabilities - The total assets at the end of 2020 were approximately ¥2.48 billion, an increase of 0.66% from ¥2.46 billion at the end of 2019[21]. - The net assets attributable to shareholders at the end of 2020 were approximately ¥1.81 billion, an increase of 3.72% from ¥1.75 billion at the end of 2019[21]. - Total current assets decreased from CNY 1,639,379,320.41 in 2019 to CNY 1,549,652,979.41 in 2020, a decline of approximately 5.5%[159]. - Total non-current assets increased from CNY 825,569,383.44 in 2019 to CNY 931,473,382.90 in 2020, an increase of approximately 12.8%[160]. - Total liabilities decreased from CNY 719,546,813.39 in 2019 to CNY 670,842,832.88 in 2020, a decline of about 6.8%[161]. - Total equity attributable to shareholders increased from CNY 1,745,401,890.46 in 2019 to CNY 1,810,283,529.43 in 2020, an increase of approximately 3.7%[161]. Cash Flow - The cash flow from operating activities for 2020 was CNY 239,250,742.38, down from CNY 369,100,908.49 in 2019, showing a decrease of about 35.2%[176]. - The company’s cash flow from operating activities decreased by 35.18% to CNY 239.25 million, primarily due to a reduction in cash received from sales[58]. - The company reported a decrease in cash flow from investing activities, with a net cash outflow of CNY -130,218,093.00 in 2020 compared to CNY -208,930,749.53 in 2019[176]. - The cash and cash equivalents at the end of 2020 were CNY 831,135,321.93, down from CNY 900,563,667.93 at the end of 2019, representing a decrease of about 7.7%[176]. Research and Development - The company has established a solid R&D platform, collaborating with several prestigious universities and research institutions to enhance product development and innovation[36]. - The company’s R&D expenses increased by 23.96% to CNY 60,030,759.69, reflecting a commitment to innovation and product development[45]. - The company completed the development of several new products, including a portable S4 spiral freezing device and high-efficiency cooling fans, with 58 new patent applications filed during the reporting period[41]. Market and Industry Trends - The food freezing equipment market is experiencing growth due to increased consumer demand for frozen and convenient food products, driven by lifestyle changes and rising living standards[30]. - The company has expanded its market presence in cold chain logistics, benefiting from government initiatives to enhance agricultural product storage and preservation facilities[28]. - The cold chain logistics industry in China has seen stable growth, driven by government policies and increasing consumer demand for frozen food[65]. - The competitive landscape in the frozen equipment industry is shifting towards companies with technological advantages and strong brand recognition, which the company aims to leverage[66]. Risk Management - The company faced various risks including policy risks, international trade environment risks, and raw material price fluctuations, which were detailed in the report[7]. - The company is committed to strengthening its internal control systems and risk management to support long-term development and operational efficiency[72]. - The company faces risks from international trade environments, raw material price fluctuations, and potential impacts from the pandemic on order volumes[73]. Corporate Governance - The company has maintained a good integrity status, with no significant debts or court judgments unfulfilled during the reporting period[87]. - The board of directors operated in compliance with legal regulations, ensuring prudent and scientific decision-making processes[134]. - The independent directors fulfilled their responsibilities and provided independent opinions on significant matters, protecting the rights of all shareholders[134]. Social Responsibility - The company donated a total of 1.3082 million, including 1 million for COVID-19 relief efforts and 129,700 for educational assistance[97]. - The company plans to continue and deepen its existing social responsibility initiatives in 2021, focusing on educational support and assistance for difficult families[98]. Shareholder Information - The total number of ordinary shares decreased from 210,674,875 to 209,081,875 due to the cancellation of 1,593,000 restricted shares[107]. - The largest shareholder, Huang Jie, held 124,596,915 shares, representing 40.27% of the total[112]. - The company has no controlling shareholder or actual controller changes during the reporting period[115].

Financial Performance - Operating revenue for the first nine months was CNY 831,589,153.33, down 5.12% year-on-year[7] - Net profit attributable to shareholders of the listed company increased by 5.17% to CNY 96,480,434.40[7] - Basic earnings per share for the period was CNY 0.46, up 4.55% from CNY 0.44[8] - Net profit for the first three quarters of 2020 was CNY 326,247,327.24, up from CNY 311,497,479.97 in the same period of 2019, indicating a growth of approximately 4.7%[25] - The net profit for the first three quarters of 2020 was ¥96,480,434.40, up from ¥91,740,028.67 in the same period of 2019, a 5.0% increase[29] - The company reported a total profit of ¥43,050,160.76 for Q3 2020, compared to ¥28,868,197.65 in Q3 2019, a growth of 49.5%[30] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,401,927,742.34, a decrease of 2.56% compared to the end of the previous year[7] - Total liabilities amounted to CNY 244,829,427.16, compared to CNY 176,691,681.69 at the end of 2019, indicating an increase of approximately 38.6%[24] - Current assets totaled CNY 257,471,336.31 as of September 30, 2020, a slight decrease from CNY 264,107,380.56 at the end of 2019[23] - Total assets reached CNY 1,392,041,630.47, up from CNY 1,309,295,398.09 at the end of 2019, representing a growth of about 6.3%[24] - Total assets amounted to RMB 1,309,295,398.09 as of September 30, 2020[48] - Total liabilities were RMB 176,691,681.69, with current liabilities at RMB 175,360,886.94[48] Cash Flow - Net cash flow from operating activities for the first nine months was CNY 200,471,875.70, an increase of 10.66% compared to the same period last year[7] - The net cash flow from operating activities for the first nine months of 2020 was CNY 200,471,875.70, an increase from CNY 181,162,682.37 in the same period of 2019, indicating a growth of about 10.8%[36] - The company reported a decrease in cash inflow from operating activities, totaling CNY 936,650,651.98 in the first nine months of 2020, down from CNY 1,162,857,064.61 in the same period of 2019, a decline of approximately 19.5%[36] - Cash outflow from financing activities was ¥62.42 million, an increase of 45.8% compared to ¥42.83 million in the same period of 2019[40] Shareholder Information - The total number of shareholders at the end of the reporting period was 22,057[12] - The largest shareholder, Huang Jie, holds 40.27% of the shares, totaling 124,596,915 shares[12] Expenses - Sales expenses decreased by 39.89% to ¥15,761,242.89 due to the reclassification of transportation costs to operating costs[15] - Research and development expenses for the first three quarters of 2020 were CNY 39,188,732.72, compared to CNY 37,267,346.67 in the same period of 2019, reflecting an increase of about 5.2%[27] - The company incurred research and development expenses of CNY 5,414,182.44 in Q3 2020, up from CNY 4,458,508.26 in Q3 2019, which is an increase of approximately 21.4%[32] Other Financial Metrics - The weighted average return on net assets decreased by 0.02 percentage points to 5.43%[8] - Investment income improved by 88.13% to a loss of ¥894,900.00, reflecting reduced losses from forward foreign exchange transactions[15] - Cash flow from financing activities showed a net outflow of ¥164,570,108.71, a 207.62% decrease compared to the previous year due to loan repayments[15] - The company reported a significant increase in cash and cash equivalents, with CNY 61,886,509.18 as of September 30, 2020, compared to CNY 122,775,584.93 at the end of 2019[23]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥555,074,986.34, a decrease of 11.27% compared to ¥625,566,956.07 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2020 was ¥58,821,386.07, down 10.12% from ¥65,442,444.38 in the previous year[20]. - Basic earnings per share for the first half of 2020 were ¥0.28, down 9.68% from ¥0.31 in the same period last year[21]. - The weighted average return on equity decreased by 0.56 percentage points to 3.34% from 3.90% in the previous year[21]. - The company achieved operating revenue of CNY 55,507.50 million, a decrease of 11.27% compared to the same period last year[38]. - The net profit attributable to shareholders was CNY 5,882.14 million, down 10.12% year-on-year[38]. - The total comprehensive income for the first half of 2020 was CNY 27,520,037.55, compared to CNY 23,246,287.69 in the first half of 2019, indicating an increase of approximately 18.5%[115]. Cash Flow and Assets - The net cash flow from operating activities was ¥61,297,851.04, a significant improvement from a negative cash flow of ¥4,134,694.16 in the same period last year, representing an increase of 1,582.52%[20]. - The total assets at the end of the reporting period were ¥2,379,335,930.34, a decrease of 3.47% from ¥2,464,948,703.85 at the end of the previous year[20]. - The company's total current assets as of June 30, 2020, amounted to ¥1,485,071,051.91, a decrease from ¥1,639,379,320.41 as of December 31, 2019, representing a decline of approximately 9.4%[103]. - The company's cash and cash equivalents were reported at ¥760,724,518.49 as of June 30, 2020, down from ¥905,402,299.44 at the end of 2019, indicating a decrease of approximately 16.0%[103]. - The company's total liabilities decreased from ¥719,546,813.39 in December 2019 to ¥614,150,125.09 in June 2020, reflecting a reduction of about 14.6%[105]. Research and Development - The company has established a solid and efficient R&D platform, collaborating with several prestigious universities and participating in the formulation of multiple national and industry standards[34]. - Research and development expenses rose by 12.05% to CNY 27,788.47 million, reflecting increased investment in innovation[43]. - Research and development expenses for the first half of 2020 were CNY 27,788,471.41, an increase from CNY 24,800,775.56 in the first half of 2019, representing a growth of 11.99%[111]. Market and Business Operations - The company’s food freezing equipment is experiencing rising market demand driven by the increasing need for preserved frozen foods, supported by ongoing technological advancements[28]. - The company is actively pursuing market expansion opportunities in the cold chain logistics sector, aligning with national policies aimed at enhancing agricultural infrastructure[30]. - Sales orders for the cold chain business increased by 27.59% due to the surge in demand for frozen food during the pandemic[38]. - The company launched new products including the S4 stackable spiral quick-freezing device and continuous direct-drive double-screw bread fermentation equipment, with 20 new patent applications filed during the reporting period[39]. Risk Management - The company faced various risks including policy risks, international trade environment risks, and raw material price fluctuations, which were detailed in the report[7]. - The company has not disclosed any environmental information during the reporting period[83]. - The company faces risks related to international trade environment, raw material price fluctuations, and exchange rate volatility, with strategies in place to mitigate these risks[53]. Shareholder and Equity Information - The company decided to repurchase and cancel 1,593,000 shares of restricted stock due to not meeting performance targets, resulting in a reduction of total shares from 210,674,875 to 209,081,875[66]. - The largest shareholder, Huang Jie, holds 84,187,105 shares, representing 40.27% of the total shares[95]. - The total equity attributable to the parent company at the end of the reporting period was CNY 1,690,423,983.28, showing a decrease from the previous period's CNY 1,645,226,020.07[125]. Environmental Compliance - The company has implemented a wastewater treatment facility with a capacity of 6,300 tons per annum, ensuring compliance with the "Comprehensive Wastewater Discharge Standards"[78]. - The company has established a dedicated hazardous waste storage facility and conducts regular assessments to ensure compliance with environmental regulations[78]. - The company has received an environmental permit for its tank container project, which has passed the completion environmental protection acceptance[79]. Accounting Policies and Standards - The company adheres to accounting standards, ensuring that the financial statements accurately reflect its financial position, operating results, changes in equity, and cash flows[140]. - The company executed the new revenue recognition standards starting January 1, 2020, which will not have a substantial impact on financial metrics[87]. - The adjustment under the new revenue recognition standard resulted in a decrease of ¥362,997,230.51 in advance receipts and a corresponding increase in contract liabilities[200].

Financial Performance - Operating revenue fell by 37.66% to CNY 207,871,245.32 year-on-year[5] - Net profit attributable to shareholders decreased by 39.59% to CNY 20,889,583.38 compared to the same period last year[5] - Basic and diluted earnings per share both decreased by 37.5% to CNY 0.10[5] - The weighted average return on equity decreased by 0.89 percentage points to 1.19%[5] - Total operating revenue for Q1 2020 was ¥207.87 million, a decrease of 37.6% compared to ¥333.44 million in Q1 2019[24] - Net profit for Q1 2020 was ¥20.89 million, a decline of 39.7% from ¥34.58 million in Q1 2019[25] - Comprehensive income for Q1 2020 was ¥21.44 million, a decrease of 37.0% from ¥33.99 million in Q1 2019[25] Cash Flow - Cash flow from operating activities showed a significant decline, with a net cash outflow of CNY 68,613,632.98, an increase of 161.15% in losses compared to the previous year[5] - Cash received from sales of goods and services in Q1 2020 was ¥207.39 million, down 22.1% from ¥266.28 million in Q1 2019[29] - In Q1 2020, the net cash flow from operating activities was -68,613,632.98 RMB, compared to -26,274,045.96 RMB in Q1 2019, indicating a decline in operational performance[30] - Total cash inflow from operating activities was 236,399,749.86 RMB, while cash outflow was 305,013,382.84 RMB, resulting in a net cash outflow of 68,613,632.98 RMB[30] - The net cash flow from financing activities was -80,012,944.44 RMB in Q1 2020, compared to 199,467,722.22 RMB in Q1 2019, indicating a significant decrease in financing activities[31] Assets and Liabilities - Total assets decreased by 3.17% to CNY 2,386,924,942.76 compared to the end of the previous year[5] - The total current assets as of March 31, 2020, were RMB 1,512,251,414.12, down from RMB 1,639,379,320.41 as of December 31, 2019[15] - Total liabilities were CNY 620,562,335.71, a decrease of 13.76% compared to CNY 719,546,813.39[17] - Current liabilities decreased to CNY 596,674,437.60, down 14.34% from CNY 696,435,257.06 in the previous period[16] - Non-current assets totaled CNY 874,673,528.64, increasing by 5.94% from CNY 825,569,383.44 year-over-year[16] Shareholder Information - The total number of shareholders reached 18,954 at the end of the reporting period[10] - The largest shareholder, Huang Jie, holds 39.96% of the shares, totaling 84,187,105 shares[10] - Shareholders' equity increased to CNY 1,766,362,607.05, up from CNY 1,745,401,890.46, reflecting a growth of 1.00%[17] Other Income and Expenses - The company reported a significant increase in non-operating income from government subsidies, amounting to CNY 3,450,661.00[8] - Other income increased by 98.80% to RMB 3,450,661.00 from RMB 1,735,750.00, mainly due to an increase in government subsidies[13] - The company reported a financial expense of -¥6.97 million in Q1 2020, compared to a financial expense of ¥14,779.43 in Q1 2019, indicating a significant improvement[24] Inventory and Receivables - Accounts receivable decreased by 54.56% to RMB 2,283,512.00 from RMB 5,025,547.40 as of December 31, 2019, mainly due to a reduction in notes receivable[12] - Inventory increased to CNY 104,135,191.55, up 21.12% from CNY 85,985,888.18[20] - Prepayments increased significantly by 263.60% to RMB 113,770,532.21 from RMB 31,290,450.41, primarily due to an increase in advance payments for materials[12]