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]

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]