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]

Financial Performance - In 2019, the company's operating revenue was CNY 1,175,301,034.32, a decrease of 4.49% compared to CNY 1,230,537,181.80 in 2018[20]. - The net profit attributable to shareholders was CNY 129,465,020.68, down 28.95% from CNY 182,223,387.13 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was CNY 129,188,735.59, a decrease of 28.26% compared to CNY 180,083,978.40 in 2018[20]. - Basic earnings per share decreased by 29.55% to CNY 0.62 from CNY 0.88 in 2018[21]. - The weighted average return on net assets was 7.64%, down 4.07 percentage points from 11.71% in 2018[21]. - The company reported a net profit margin of 30.59% for 2019, with a net profit of approximately 129.47 million RMB[82]. - The total comprehensive income for 2019 was CNY 129,939,798.73, compared to CNY 183,619,979.03 in 2018, indicating a decrease of approximately 29.2%[187]. - The company reported a decrease in retained earnings of CNY 42,134,975.00, primarily due to distributions to shareholders[199]. Cash Flow - The net cash flow from operating activities increased significantly to CNY 369,100,908.49, up 1,509.36% from CNY 22,934,667.53 in 2018[20]. - The net cash flow from operating activities for 2019 was RMB 369,100,908.49, a significant increase from RMB 22,934,667.53 in 2018, representing a growth of approximately 1,507%[193]. - Cash inflow from financing activities increased to RMB 200,000,000.00 in 2019, compared to RMB 6,371,000.00 in 2018, marking a substantial rise of over 3,040%[193]. - The ending cash and cash equivalents balance for 2019 was RMB 900,563,667.93, up from RMB 598,780,835.94 in 2018, reflecting an increase of approximately 50.4%[193]. Assets and Liabilities - The total assets at the end of 2019 were CNY 2,464,948,703.85, representing a 20.17% increase from CNY 2,051,223,456.86 in 2018[20]. - The total liabilities of the company were CNY 719,546,813.39, which is a significant increase from the previous year, indicating a rising leverage position[178]. - The company's long-term liabilities remained stable at CNY 23,111,556.33, slightly down from CNY 23,653,095.86 in 2018, showing a decrease of about 2.3%[178]. - The company's total share capital decreased from 210,743,750 shares to 210,674,875 shares due to the repurchase and cancellation of 68,875 shares from departing incentive recipients[126]. Research and Development - Research and development expenses were CNY 48,428,964.78, a decrease of 6.26% from the previous year[47]. - The company has established stable partnerships with several renowned universities and research institutions to enhance its R&D capabilities[37]. - The company is focusing on technological innovation and has introduced various freezing equipment to meet market demands for efficient and energy-saving solutions[32]. Market and Business Operations - The company’s main business includes the R&D, production, and sales of food freezing equipment and tank containers, with no significant changes in the business scope during the reporting period[29]. - The food freezing equipment industry is experiencing rapid growth due to increasing demand for frozen food products, driven by lifestyle changes and higher living standards[31]. - The company’s market share for tank containers reached 15.55%, showing growth compared to the previous year despite a competitive environment[42]. - The company is expanding its market presence in regions such as Russia, India, Southeast Asia, and the Middle East, aiming for significant growth[74]. Shareholder and Stock Information - The proposed cash dividend is CNY 1.88 per 10 shares, with a cash dividend ratio of 30.59%[5]. - Shareholders are restricted from transferring or entrusting their shares for 36 months post-IPO, with specific limits on annual transfers during their tenure[85]. - The company will notify shareholders three trading days in advance of any share reduction, including details on quantity and price range[85]. Environmental Compliance - The company’s emissions of smoke and wastewater were reported to meet the relevant environmental discharge standards, indicating no environmental pollution[113]. - The company has engaged a third-party testing agency to monitor noise levels, which confirmed compliance with the Class I standard of GB12348-2008[112]. Governance and Compliance - The company has a governance structure that complies with relevant laws and regulations, ensuring effective decision-making and protection of shareholder interests[152]. - The audit report confirmed that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2019[162]. - There were no significant litigation or arbitration matters reported for the year[96].

Financial Performance - Net profit attributable to shareholders decreased by 35.78% to CNY 91,740,028.67 for the year-to-date period[6] - Basic earnings per share decreased by 36.23% to CNY 0.44[7] - The weighted average return on net assets decreased by 3.89 percentage points to 5.45%[7] - Total revenue for Q3 2019 was ¥250,895,665.57, a decrease of 24.4% compared to ¥332,386,242.79 in Q3 2018[25] - Net profit for the first three quarters of 2019 was ¥291,933,985.34, compared to ¥300,314,499.26 in the same period of 2018, reflecting a decrease of 2.5%[23] - The net profit for Q3 2019 was ¥26,297,584.29, down from ¥61,120,058.15 in Q3 2018, representing a decline of 56.9%[28] - The total profit for Q3 2019 was ¥28,868,197.65, compared to ¥69,296,462.47 in Q3 2018, indicating a decrease of 58.4%[27] - The total profit for the first three quarters of 2019 was ¥166,653,956.46, down from ¥314,175,855.85 in the same period of 2018, a decline of 47.0%[27] Cash Flow - Operating cash flow improved significantly, with a net cash flow from operating activities of CNY 181,162,682.37, a 227.42% increase compared to the same period last year[6] - The net cash flow from operating activities improved by 227.42% to ¥181,162,682.37, attributed to increased cash received from sales[14] - Cash flow from operating activities for the first nine months of 2019 was CNY 181,162,682.37, a turnaround from a negative cash flow of CNY -142,179,592.88 in the same period of 2018[33] - Net cash flow from operating activities for the first three quarters of 2019 was CNY 89.48 million, down 45.5% from CNY 164.03 million in 2018[36] - The company reported a net cash inflow from financing activities of CNY 152,921,101.39 in Q3 2019, compared to a net outflow of CNY -32,509,825.00 in Q3 2018[34] Assets and Liabilities - Total assets increased by 17.80% to CNY 2,416,376,302.85 compared to the end of the previous year[6] - The company's total assets reached ¥2,416,376,302.85, up from ¥2,051,223,456.86 at the beginning of the year[18] - The total liabilities increased to ¥697,661,756.59 from ¥405,997,436.79, reflecting a significant rise in short-term borrowings[18] - The company's total equity rose to ¥1,718,714,546.26, compared to ¥1,645,226,020.07 at the end of the previous year[18] - Total current assets as of Q3 2019 amounted to CNY 1.39 billion, unchanged from the previous year[40] - Total assets as of Q3 2019 were CNY 2.05 billion, consistent with the previous year[40] - Total liabilities as of Q3 2019 were CNY 405.99 million, remaining stable compared to the previous year[41] Shareholder Information - The total number of shareholders reached 20,884, with the top ten shareholders holding a combined 54.27% of shares[12] - The largest shareholder, Huang Jie, holds 39.96% of the shares[12] Investment and Expenses - The company reported non-recurring gains and losses of CNY 4,150,093.00 for the year-to-date period[7] - Long-term prepaid expenses surged by 4444.16% to ¥3,760,626.00 primarily due to increased renovation costs[13] - Financial expenses decreased by 49.91% to -¥14,446,462.80, mainly due to increased interest expenses and reduced exchange gains[13] - Investment income plummeted by 14314.90% to -¥7,539,739.50, primarily due to the impact of foreign exchange forward contracts[13] - Research and development expenses for Q3 2019 were ¥4,458,508.26, an increase of 39.5% from ¥3,197,016.07 in Q3 2018[29] Other Information - The company has not disclosed any new product developments or market expansion strategies in this report[6] - The company has implemented new financial instrument standards since January 1, 2019, affecting the reporting of financial assets and liabilities[42]

Financial Performance - The company's operating revenue for the first half of 2019 was approximately ¥625.57 million, representing an increase of 18.70% compared to the same period last year[17]. - The net profit attributable to shareholders for the first half of 2019 was approximately ¥65.44 million, a decrease of 19.94% year-on-year[17]. - The basic earnings per share for the first half of 2019 was ¥0.31, down 20.51% from ¥0.39 in the same period last year[17]. - The weighted average return on equity decreased to 3.90%, down 1.52 percentage points from 5.42% in the previous year[17]. - The net cash flow from operating activities was negative at approximately -¥4.13 million, an improvement of 93.99% compared to -¥68.80 million in the same period last year[17]. - Total assets increased by 12.86% to approximately ¥2.31 billion compared to the end of the previous year[17]. - The net assets attributable to shareholders increased by 2.75% to approximately ¥1.69 billion compared to the end of the previous year[17]. - The operating cost increased by 29.18% to RMB 484,773,469.83 from RMB 375,266,603.10, primarily due to increased sales and rising material and labor costs[36]. - The total comprehensive income for the first half of 2019 was ¥65,474,932.61, down from ¥82,141,577.06 in the previous year, a decline of 20.3%[100]. Research and Development - The company has established a solid R&D platform, collaborating with several prestigious universities and participating in the formulation of national and industry standards[26]. - The company has increased its investment in research and development, with R&D expenses rising by 10.50% to RMB 24,800,775.56 from RMB 22,444,545.62[36]. - The company applied for 18 patents during the reporting period, contributing to a total of 138 valid patents, including 55 invention patents[32]. - The company has successfully launched new products, including the T50 gas cylinder and an intelligent quick-freezing production line for agricultural products, which passed expert evaluations[31]. Market and Business Development - The demand for food freezing equipment is rapidly increasing, driven by the rising consumer preference for easily preserved frozen foods, which boosts market demand[21]. - The tank container market is experiencing growth due to government policies encouraging the use of specialized vehicles for hazardous materials transportation[24]. - The company is actively extending its reach into other sub-industries within the cold chain equipment sector, leveraging its technological and brand advantages[22]. - The company has made significant progress in market expansion, particularly in the European market for tank containers, with notable sales increases in Russia and India[31]. Risk Management - The company has identified risks related to macroeconomic fluctuations, raw material price volatility, and market competition[5]. - The company faces risks including macroeconomic changes, raw material price fluctuations, and market competition[44]. - The company emphasizes technology innovation as a key driver for development, but risks exist if market trends are not accurately assessed[44]. - The company’s foreign sales are primarily settled in USD, exposing it to exchange rate risks[45]. Corporate Governance and Compliance - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[5]. - The company has appointed Tianjian Accounting Firm as the auditor for the 2019 fiscal year, with a one-year term approved by the 2018 annual shareholders' meeting[55]. - There are no significant litigation or arbitration matters during the reporting period[55]. - The integrity status of the company and its controlling shareholders is good, with no unfulfilled court judgments or significant overdue debts[55]. Shareholder Information - The company does not plan to distribute profits or increase capital reserves during the reporting period[48]. - The company repurchased and canceled 68,875 shares of unvested restricted stock at a total cost of RMB 1,047,756.25, with a repurchase price of RMB 15.55 per share for 63,875 shares and RMB 10.90 for 5,000 shares[56]. - The total number of ordinary shareholders as of the end of the reporting period is 20,204[80]. - The top shareholder, Huang Jie, holds 84,187,105 shares, representing 39.96% of the total shares[82]. Environmental and Social Responsibility - The company ensured compliance with environmental standards, with emissions of pollutants from production processes meeting the required discharge standards[66]. - The company implemented measures to reduce noise pollution from production equipment, achieving compliance with the industrial noise emission standards[66]. - The company continued its commitment to social responsibility by providing scholarships to 57 students, totaling RMB 40,900, and assisting impoverished families with RMB 7,000 in aid[63]. - The company engaged in community support activities, including RMB 300,000 for elderly assistance and RMB 120,000 for students in poverty-stricken areas[63]. Accounting Policies and Financial Reporting - The company disclosed that there were no significant accounting errors or changes in accounting policies during the reporting period[68]. - The company has implemented significant accounting policy changes, including the adoption of new financial instrument standards, which will impact accounts receivable and payable, as well as asset impairment losses[199]. - The company recognizes revenue from sales of goods when the risks and rewards of ownership are transferred to the buyer, and the revenue amount can be reliably measured[189]. - The company confirms domestic sales revenue when products are delivered and accepted by the buyer, and the sales amount is determined[192].

Financial Performance - Operating revenue rose by 41.15% to CNY 333,437,272.78 year-on-year[6] - Net profit attributable to shareholders increased by 22.27% to CNY 34,580,459.84 compared to the same period last year[6] - Basic earnings per share rose by 14.29% to CNY 0.16[6] - Diluted earnings per share increased by 23.08% to CNY 0.16[6] - The company reported non-recurring gains of CNY 7,932,548.83 during the period[8] - Revenue for Q1 2019 reached ¥333,437,272.78, an increase of 41.15% compared to ¥236,230,014.71 in Q1 2018, primarily due to sales growth[11] - Net profit for Q1 2019 was CNY 34,580,459.84, representing a growth of 22.3% from CNY 28,282,795.33 in Q1 2018[23] - The company reported a gross profit of CNY 67,002,814.35 for Q1 2019, compared to CNY 71,108,203.77 in Q1 2018, indicating a decrease of 5.8%[22] - The company reported a total profit of CNY 8,447,296.75 for Q1 2019, down 37.5% from CNY 13,622,192.33 in Q1 2018[27] - The total comprehensive income for Q1 2019 was CNY 33,990,903.05, up 24.2% from CNY 27,381,834.19 in Q1 2018[28] Assets and Liabilities - Total assets increased by 8.94% to CNY 2,234,662,771.01 compared to the end of the previous year[6] - The total assets as of March 31, 2019, amounted to ¥2,234,662,771.01, up from ¥2,051,223,456.86 at the end of 2018[14] - Total liabilities as of March 31, 2019, were CNY 163,621,240.21, compared to CNY 154,564,376.98 at the end of 2018, indicating a rise of 5.9%[21] - Current assets totaled CNY 305,806,512.74, down from CNY 366,547,397.15 at the end of 2018, reflecting a decrease of 16.5%[20] - Non-current assets increased to CNY 968,850,378.02 from CNY 891,231,978.99, marking a growth of 8.7%[20] Cash Flow - Net cash flow from operating activities improved by 47.68%, reaching CNY -26,274,045.96[6] - Cash flow from operating activities showed a net outflow of CNY 26,274,045.96 in Q1 2019, an improvement from a net outflow of CNY 50,219,366.18 in Q1 2018[29] - The net increase in cash and cash equivalents for the quarter was -CNY 55,690,078.33, compared to -CNY 170,243,860.19 in the same period last year, showing an improvement in cash management[34] - The ending balance of cash and cash equivalents was CNY 163,309,671.55, down from CNY 218,999,749.88 at the beginning of the quarter[34] - The company reported a decrease in cash flow from operating activities, with total cash inflow dropping to CNY 107,397,770.95 from CNY 127,544,391.24 year-over-year[33] Shareholder Information - The total number of shareholders reached 20,185 by the end of the reporting period[9] - The largest shareholder, Huang Jie, holds 39.95% of the shares, totaling 84,187,105 shares[9] Operating Costs and Expenses - Operating costs increased by 62.34% to ¥266,434,175.82 in Q1 2019 from ¥164,121,811.34 in Q1 2018, driven by rising material prices[11] - Operating costs for Q1 2019 were CNY 303,420,458.43, an increase from CNY 204,569,090.94 in Q1 2018, reflecting a rise of 48.4%[22] - Employee compensation liabilities decreased by 47.17% to ¥18,104,417.06 from ¥34,267,387.74, reflecting the distribution of last year's bonuses[11] - Research and development expenses for Q1 2019 were CNY 12,316,708.15, slightly higher than CNY 11,254,684.86 in Q1 2018[23] - Research and development expenses decreased to CNY 4,810,522.64 in Q1 2019 from CNY 5,924,268.85 in Q1 2018, a reduction of 18.8%[27] - The company's sales expenses increased to CNY 5,722,650.38 in Q1 2019 from CNY 4,248,357.00 in Q1 2018, representing a rise of 34.7%[26] Investment Activities - Total cash inflow from investment activities was CNY 32,081,041.09, while cash outflow was CNY 77,468,353.50, resulting in a net cash flow of -CNY 77,468,353.50 for investment activities[33] - The company received CNY 53,041.09 in investment income during the quarter, contributing to overall cash inflows[33] - The company disposed of fixed assets and received CNY 28,000.00, which is part of the cash inflow from investment activities[33] - The total cash outflow for investment activities in Q1 2019 was significantly lower than the previous year's CNY 228,315,980.59, indicating a reduction in capital expenditures[33] Tax and Financial Management - The company received CNY 25,011,474.55 in tax refunds during Q1 2019, an increase from CNY 21,643,324.65 in Q1 2018[29] - The financial expenses for Q1 2019 were reported as CNY -576,101.62, a significant improvement compared to CNY -1,495,249.97 in Q1 2018[27] - The company experienced a foreign exchange loss of -CNY 647,472.31, impacting the overall cash position[34]

Financial Performance - The company's operating revenue for 2018 was CNY 1,230,537,181.80, representing a 21.99% increase compared to CNY 1,008,714,515.86 in 2017[20] - The net profit attributable to shareholders for 2018 was CNY 182,223,387.13, which is a 5.83% increase from CNY 172,184,765.20 in 2017[20] - The net profit after deducting non-recurring gains and losses was CNY 180,083,978.40, up 11.49% from CNY 161,529,549.99 in 2017[20] - The company's main business revenue increased by 21.93% to CNY 1,196,257,064.93, driven by stable domestic economic conditions and the expansion into new markets[43] - The gross profit margin decreased by 6.17 percentage points to 26.12%, primarily due to rising raw material prices and increased manufacturing costs[43] - The company achieved operating revenue of CNY 1,230,537,181.80, representing a year-on-year growth of 21.99%[39] - The net profit attributable to shareholders was CNY 18,222,340, reflecting a 5.83% increase compared to the previous year[39] Assets and Liabilities - The total assets at the end of 2018 were CNY 2,051,223,456.86, a 13.05% increase from CNY 1,814,418,072.20 at the end of 2017[20] - The net assets attributable to shareholders at the end of 2018 were CNY 1,645,226,020.07, reflecting a 12.08% increase from CNY 1,467,847,515.41 at the end of 2017[20] - Total liabilities increased to CNY 405,997,436.79 from CNY 346,570,556.79, reflecting a growth of around 17.09%[179] - Total assets increased to CNY 2,051,223,456.86, up from CNY 1,814,418,072.20, representing a growth of approximately 13.06% year-over-year[178] Earnings and Dividends - The basic earnings per share for 2018 were CNY 0.88, a 6.02% increase from CNY 0.83 in 2017[21] - The diluted earnings per share for 2018 were CNY 0.86, which is a 4.88% increase from CNY 0.82 in 2017[21] - The company plans to distribute a cash dividend of CNY 2.00 per 10 shares, totaling approximately CNY 42,148,750.00[5] Research and Development - The company maintained a strong R&D platform, contributing to its competitive edge in the food freezing equipment and tank container sectors[32] - Research and development expenses totaled ¥51.66 million, accounting for 4.20% of total revenue[52] - The company aims to enhance its R&D capabilities with plans to develop new products including full-flow freezing devices and energy-saving panels, targeting a variety of market needs[70] Market and Competition - The company has identified risks related to macroeconomic fluctuations, raw material price volatility, technological development, market competition, and exchange rates[7] - The cold chain equipment manufacturing industry is experiencing growth due to rising demand for frozen food and supportive government policies[58] - The overall market for refrigerated containers is expected to grow steadily, driven by increased safety standards and environmental awareness[67] Operational Strategy - The company’s operational model is characterized by a "make-to-order" strategy, allowing for customization based on client needs[28] - The company intends to transition from a manufacturer of frozen food equipment to a system integrator, providing comprehensive solutions in refrigeration technology and storage equipment[69] - The company is focusing on differentiating its products and enhancing brand value to capture higher market shares in the competitive cold equipment industry[68] Cash Flow and Investments - The company’s cash flow from operating activities decreased by 90.20% to CNY 22,934,667.53, indicating challenges in cash generation[42] - The company reported a significant increase in investment income, which rose to ¥40,053,041.09 from ¥18,834,628.09, marking an increase of 112.5%[187] - The cash flow from operating activities generated a net amount of ¥22,934,667.53, down from ¥234,116,848.19 in the previous period[190] Corporate Governance - The company maintained a sound corporate governance structure, complying with relevant laws and regulations, with no significant issues reported[152] - The management's performance during the reporting period was noted as diligent and effective, contributing to the improvement of corporate governance standards[159] - The company confirmed that there were no major differences between its governance practices and the requirements set by the China Securities Regulatory Commission[152] Shareholder Information - The company has established a commitment to ensure investor rights are effectively protected[84] - The top five customers contributed ¥335.39 million, representing 27.26% of total annual sales[49] - The company’s shareholding structure indicates a significant portion of shares held by domestic non-state-owned entities[110] Employee and Management Compensation - The total remuneration for Chairman Huang Jie was 53.55 million yuan[138] - The total remuneration for Director Qian Hong was 41.45 million yuan[138] - The company has implemented a salary management system that aligns individual compensation with performance and company profitability[149]

Financial Performance - Operating revenue for the first nine months reached CNY 859,380,658.10, a growth of 24.07% year-on-year [6]. - Net profit attributable to shareholders increased by 22.75% to CNY 142,857,837.26 for the first nine months [6]. - Basic earnings per share increased by 23.21% to CNY 0.69 [7]. - The diluted earnings per share also increased by 23.21% to CNY 0.69 [7]. - Net profit for the first nine months of 2018 was ¥166,653,956.46, compared to ¥134,922,397.00 for the same period in 2017, reflecting a growth of 23.5% [21]. - The company's net profit for Q3 2018 was CNY 61,120,058.15, an increase of 29.4% compared to CNY 47,215,075.69 in Q3 2017 [22]. - The total comprehensive income for Q3 2018 reached CNY 62,159,036.87, up 33.0% from CNY 46,697,159.73 in the same period last year [23]. - Basic and diluted earnings per share for Q3 2018 were both CNY 0.30, compared to CNY 0.23 in Q3 2017, reflecting a growth of 30.4% [23]. Cash Flow and Liquidity - Net cash flow from operating activities showed a significant decline of 162.29%, resulting in a negative cash flow of CNY -142,179,592.88 [6]. - The company's cash and cash equivalents decreased to ¥226,830,851.66 from ¥387,945,537.95 at the beginning of the year, representing a decline of 41.4% [17]. - Cash and cash equivalents decreased by 39.51% to ¥531,541,893.15 from ¥878,658,089.81 due to increased operating expenses [10]. - Operating cash inflow for the period reached ¥971,091,138.62, an increase of 17.5% compared to ¥826,795,365.21 in the previous year [27]. - The cash and cash equivalents at the end of the period stood at ¥513,196,727.98, down from ¥876,088,314.84 in the previous year [28]. - The net increase in cash and cash equivalents for the period was ¥-359,246,823.56, contrasting with an increase of ¥8,854,085.31 in the same period last year [28]. Assets and Liabilities - Total assets increased by 8.64% to CNY 1,971,213,281.77 compared to the end of the previous year [6]. - Cash and cash equivalents decreased by 39.51% to ¥531,541,893.15 from ¥878,658,089.81 due to increased operating expenses [10]. - Fixed assets increased by 246.78% to ¥396,741,058.39 from ¥114,407,227.69, mainly due to the implementation of fundraising projects and acquisition of office property [10]. - Total liabilities decreased to ¥185,527,936.42 from ¥216,945,379.57, a reduction of 14.5% [19]. - The company's retained earnings increased to ¥816,484,639.75 from ¥711,553,027.49, showing a growth of 14.7% [19]. Shareholder Information - The number of shareholders reached 22,486 by the end of the reporting period [9]. - The top shareholder, Huang Jie, holds 39.85% of the shares, totaling 83,982,205 shares [9]. Operating Costs and Expenses - Operating costs rose by 33.49% to ¥618,956,674.74 from ¥463,660,801.44, attributed to sales growth [11]. - The company reported a significant increase in sales expenses by 33.75% to ¥26,154,174.96 from ¥19,554,782.76, driven by sales growth [11]. - Operating costs for the first nine months of 2018 were CNY 205,069,389.28, an increase of 43.4% compared to CNY 143,062,883.89 in the same period of 2017 [24]. - Total operating costs for Q3 2018 were ¥270,490,051.09, up 35% from ¥200,228,510.83 in Q3 2017 [21]. Government Subsidies and Other Income - The company received government subsidies amounting to CNY 9,636,127.00 during the reporting period [8]. - Other income increased by 123.68% to ¥9,636,127.00 from ¥4,308,090.00, mainly due to increased government subsidies [11]. - The company achieved other income of CNY 2,416,285.00 in Q3 2018, compared to CNY 1,021,000.00 in Q3 2017, marking an increase of 136.5% [24]. Research and Development - Research and development expenses for Q3 2018 were ¥11,838,375.82, up 17% from ¥10,115,978.73 in Q3 2017, reflecting the company's commitment to innovation [21]. - Research and development expenses for Q3 2018 were CNY 3,197,016.07, a decrease of 22.5% from CNY 4,128,324.40 in Q3 2017 [24].

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 526,994,415.31, representing a 19.76% increase compared to CNY 440,030,163.07 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2018 was CNY 81,737,779.11, an increase of 18.17% from CNY 69,170,630.87 in the previous year[18]. - Basic earnings per share for the first half of 2018 were CNY 0.39, up 18.18% from CNY 0.33 in the same period last year[19]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in the first half of 2018, representing a year-over-year growth of 20%[58]. - The company provided a positive outlook for the second half of 2018, projecting a revenue growth of 25%[60]. - The company achieved a total comprehensive income of ¥82,141,577.06, compared to ¥68,660,674.68 in the previous period, indicating a growth of 19.5%[113]. Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 68,799,470.37, a decline of 165.69% compared to a positive CNY 104,731,869.90 in the same period last year[18]. - Cash and cash equivalents decreased from ¥878,658,089.81 to ¥695,849,979.74, representing a decline of approximately 20.8%[104]. - The total cash and cash equivalents at the end of the period was CNY 691,452,513.23, a decrease from CNY 851,565,333.15 in the previous period[119]. - Total cash outflow from operating activities was CNY 674,188,599.97, compared to CNY 432,276,940.25 in the previous period, indicating increased operational expenses[118]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,938,937,797.18, reflecting a 6.86% increase from CNY 1,814,418,072.20 at the end of the previous year[18]. - The company's total liabilities reached ¥401,845,858.37, up from ¥346,570,556.79, marking an increase of around 15.93%[106]. - The total current assets amounted to ¥1,394,133,247.10, a slight decrease from ¥1,403,882,019.44 at the beginning of the period[104]. - The total non-current assets increased from ¥185,044,249.09 to ¥280,712,701.09, indicating a growth of about 51.6%[104]. Research and Development - The company’s research and development expenses increased by 16.08% to RMB 22,444,545.62, reflecting a focus on innovation[39]. - The company has established a technical research institute and has formed partnerships with institutions like the Chinese Academy of Sciences and Nanjing University of Science and Technology for product development[35]. - The company has made significant advancements in product development, particularly in improving heat exchange efficiency and reducing energy consumption[35]. Market Position and Strategy - The company holds a competitive position in the domestic frozen equipment market, with a steadily increasing market share in the tank container sector[52]. - The company focuses on customized production based on customer needs, utilizing a "make-to-order" production model for both frozen equipment and tank containers[24]. - The company has successfully secured bulk orders from global leasing companies, including Raffles Lease Pte Ltd and Trifleet Leasing, indicating a recovery in the tank container market[35]. Risks and Challenges - The company faces risks related to macroeconomic fluctuations, raw material price volatility, technological development, market competition, and exchange rates[5]. - The main raw materials include stainless steel, valves, and carbon steel, which may impact operational performance due to price volatility[51]. - The company is exposed to exchange rate risks due to its foreign sales primarily being settled in USD[52]. Shareholder and Equity Information - The largest shareholder, Huang Jie, holds 83,558,105 shares, representing 39.63% of the total shares[90]. - The company has a lock-up period of 36 months for major shareholders' shares, preventing them from transferring or selling their holdings[92]. - The total number of ordinary shareholders at the end of the reporting period was 24,318[88]. Corporate Governance and Compliance - The board of directors confirmed that the financial report is true, accurate, and complete, with no significant omissions or misleading statements[6]. - The company’s financial statements comply with the requirements of the enterprise accounting standards, reflecting its financial status accurately[141]. - The company has not made any changes to important accounting policies or estimates during the reporting period[197]. Social Responsibility and Community Engagement - The company provided scholarships to 57 students, totaling 39,800 RMB, and assisted two impoverished students with material support[69]. - The company donated 100,000 RMB to the East China University of Science and Technology Education Foundation for educational poverty alleviation[69]. - The company plans to continue its poverty alleviation efforts in the second half of 2018, focusing on educational and social support[73].

Financial Performance - Operating revenue for the period was CNY 236,230,014.71, representing a year-on-year increase of 14.69%[6] - Net profit attributable to shareholders of the listed company decreased by 29.66% to CNY 28,282,795.33[6] - Basic earnings per share decreased by 26.32% to CNY 0.14[6] - Diluted earnings per share decreased by 31.58% to CNY 0.13[6] - The net profit for the current period is CNY 12,075,400.98, down 44.5% from CNY 21,837,835.64 in the previous period[29] - The total profit for the current period is CNY 13,622,192.33, a decrease of 41.6% compared to CNY 23,349,835.88 in the previous period[29] Cash Flow - The net cash flow from operating activities was negative at CNY -50,219,366.18, a decline of 245.89% compared to the same period last year[6] - The net cash flow from operating activities is CNY -50,219,366.18, a significant decline from CNY 34,422,945.12 in the previous period[32] - The company generated CNY 295,867,604.05 in cash inflows from operating activities, an increase from CNY 271,798,717.46 in the previous period[32] - The company reported a decrease in operating expenses, with total cash outflows from operating activities amounting to CNY 346,086,970.23, up from CNY 237,375,772.34 in the previous period[32] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,812,449,357.42, a decrease of 0.11% compared to the end of the previous year[6] - Total liabilities decreased to RMB 317,220,007.82 from RMB 346,570,556.79[17] - Accounts receivable decreased by 40.54% to RMB 57,629,509.21 as a result of collections[11] - Prepayments increased by 104.89% to RMB 61,897,495.08 due to higher advance payments for materials[11] - Other current assets increased by 120.64% to RMB 17,981,286.63 due to an increase in deductible input tax[11] - Construction in progress increased by 68.28% to RMB 118,869,393.60 due to the implementation of fundraising projects[11] Shareholder Information - The total number of shareholders at the end of the reporting period was 23,042[9] - The largest shareholder, Huang Jie, holds 39.63% of the shares, totaling 83,558,105 shares[9] Financial Expenses and Income - Financial expenses increased by 2,167.90% to RMB 13,935,410.51 due to exchange losses[11] - Asset impairment losses decreased by 3,191.50% to -RMB 1,566,279.07 as a result of the reversal of bad debt provisions[11] - Other income decreased by 83.95% to RMB 505,550.00 primarily due to a reduction in government subsidies[11] Investment Activities - The company invested CNY 80,934,664.83 in fixed assets during the current period, compared to CNY 14,737,283.29 in the previous period[32] - Cash flow from investment activities showed a net outflow of $196,234,939.50, indicating significant investment expenditures[35] - Total cash inflow from investment activities was $32,081,041.09, while cash outflow totaled $228,315,980.59[35] - The company received $6,371,000.00 from investment activities, contributing to its financing cash flow[35] - Cash received from other investment activities amounted to $32,000,000.00, highlighting ongoing investment efforts[35] Cash and Cash Equivalents - Cash and cash equivalents decreased to CNY 212,873,477.76 from CNY 387,945,537.95 at the beginning of the year[20] - Cash and cash equivalents at the end of the period amount to CNY 726,153,005.22, down from CNY 786,312,982.28 in the previous period[33] - The ending balance of cash and cash equivalents was $212,690,477.76, down from $382,934,337.95 at the beginning of the period[35] - The impact of exchange rate changes on cash and cash equivalents was a decrease of $2,546,442.23[35]