Shareholder and Ownership Structure - The total number of ordinary shareholders increased from 25,422 to 29,846 during the reporting period, representing a growth of approximately 17.5%[20] - The total shareholding of the chairman remained unchanged at 270 million shares, while director Chen Xiaoqin reduced her holdings by 4.14 million shares, accounting for 1.23% of the company's total equity[1] - The company does not have any controlling shareholder or actual controller, ensuring a clear ownership structure[25] - The chairman directly holds 94.67% of the shares in Shanghai Shima Power Holdings Co., Ltd., indicating a strong personal investment in the company[24] - The controlling shareholder, Shanghai Shima Power Holdings Co., Ltd., holds 266,000,000 shares, accounting for 61.54% of the total share capital after lending 4,000,000 shares[45] - As of the report date, Chen Xiaoqin held 90,000,000 shares, accounting for 20.82% of the total share capital, and reduced her holdings by 4,140,000 shares during the reporting period[148] Financial Performance - The total operating revenue for Shenneng Electric in 2022 was RMB 732,150,483.17, accounting for approximately 99.29% of total revenue[80] - The company reported a total revenue of RMB 1.2 billion for the fiscal year 2022, representing a year-on-year increase of 15%[158] - The net profit for 2022 was RMB 200 million, which is a 10% increase compared to the previous year[158] - In 2022, the company achieved operating revenue of CNY 737,403,161.94, a year-on-year increase of 0.85%[184] - The net profit for 2022 was CNY 49,126,170.13, representing a year-on-year decrease of 51.15%[184] - The decline in net profit was primarily due to rising raw material costs and increased depreciation from new automated production lines[178] Assets and Liabilities - The company's total assets amounted to $2,118,866,969.57, up from $1,967,858,276.87, marking an 8% increase[109] - Total liabilities increased to $516,962,978.09 from $377,645,490.07, representing a growth of approximately 37% year-over-year[108] - Current liabilities rose to $455,203,250.23, up from $318,236,560.12, indicating a 43% increase[108] - The total value of accounts receivable was RMB 351,144,193.81, with a provision for bad debts amounting to RMB 11,967,147.23[59] - The total value of contract assets was RMB 18,254,002.10, with a provision for bad debts of RMB 1,956,239.06 as of December 31, 2022[59] - The company's total equity reached ¥1,590,763,174.66, up from ¥1,584,860,978.93, showing a slight increase of about 0.4%[128] Cash Management and Investments - The company reported a total of 56,387.30 million RMB in bank wealth management products with an outstanding balance of 5,500 million RMB[35] - The company has invested in various bank wealth management products, with returns ranging from 0.25% to 6.45% on different products[36] - The company has no overdue receivables from its financial products, indicating effective management of its financial assets[35] - The company has approved the use of idle self-owned funds for entrusted wealth management[136] - The company has implemented a cash management plan using idle raised funds[136] Corporate Governance and Management - The company held five board meetings in 2022, with all directors attending in person[137] - The audit committee convened four meetings during the reporting period, focusing on the annual financial statements and internal control reports[139] - The strategic committee held three meetings, including discussions on investment in a UK project and capital increase for a subsidiary[141] - The company’s independent directors participated actively in board meetings and committees, ensuring compliance and governance[139] - The company appointed Zhang Wenbin as Vice President responsible for operational management, Liu Chao as Vice President and Chief Engineer for R&D management, and Jin Ling as Vice President for human resources management[151] Future Plans and Strategic Initiatives - The company plans to continue expanding its market presence and exploring new investment opportunities in the upcoming fiscal year[37] - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2025[158] - New product development includes the launch of a high-efficiency power transformer, expected to contribute an additional RMB 100 million in revenue in 2023[158] - A strategic acquisition of a local competitor is anticipated to enhance operational capabilities and is projected to increase revenue by 20% in the next fiscal year[158] - The company has set a performance guidance for 2023, aiming for a revenue growth of 20% and a net profit margin of 15%[158] Risk Management - The company emphasizes the importance of risk management, particularly in relation to market volatility and regulatory changes in the energy sector[158] - The management assessed the impairment of accounts receivable and contract assets based on expected credit losses over the entire duration, indicating a focus on credit risk management[87] - The management's estimates for expected credit losses involve significant subjective judgment, highlighting the importance of accurate financial forecasting[87] Audit and Compliance - The audit report confirmed that the financial statements fairly reflect the financial position and results of operations for the year ended December 31, 2022[54] - The audit identified key audit matters, including revenue recognition and impairment of accounts receivable and contract assets[57] - The company has implemented internal controls related to revenue recognition, which were evaluated and tested during the audit[80] - The audit procedures included verifying sales contracts and supporting documents to ensure proper revenue recognition timing[80]

江苏神马电力股份有限公司 2022 年第三季度报告 单位：元 币种：人民币 证券代码：603530 证券简称：神马电力 江苏神马电力股份有限公司 2022 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 本报告期 | --- | --- | --- | --- | --- | |-----------------------------------------------|----------------|------------------------------|----------------------|--------------------- ...

Financial Performance - The company's operating revenue for the first half of 2022 was approximately RMB 371.56 million, representing a year-on-year increase of 12.68% compared to RMB 329.76 million in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 60.66% to RMB 19.68 million from RMB 50.04 million in the previous year[20]. - The basic earnings per share for the first half of 2022 were RMB 0.05, down 61.54% from RMB 0.13 in the same period last year[20]. - The net profit after deducting non-recurring gains and losses was RMB 18.15 million, a decrease of 61.44% from RMB 47.07 million in the same period last year[20]. - The company reported a total profit of ¥22,770,924.90 for the first half of 2022, down from ¥58,809,270.36 in the same period of 2021, a decrease of 61.3%[169]. - The total comprehensive income for the first half of 2022 was ¥19,686,549.85, compared to ¥50,038,570.27 in the previous year, reflecting a decline of 60.7%[171]. Cash Flow and Assets - The net cash flow from operating activities was negative at RMB -101.78 million, a significant decline from RMB 29.76 million in the same period last year, marking a decrease of 442.05%[20]. - Cash flow from operating activities showed a significant decline, with a net outflow of 101,777,536.66 CNY, a decrease of 442.05% compared to the previous year[62]. - The company reported a cash balance of RMB 450,934,983.70 at the end of the period, an increase from RMB 316,558,888.62 at the beginning[154]. - The total current assets amounted to RMB 1,232,039,563.19, slightly down from RMB 1,235,901,533.05[154]. - The company’s cash and cash equivalents increased by 42.45% to 450,934,983.70 CNY, mainly due to the redemption of financial products[67]. Research and Development - The company increased its R&D investment to meet growing market demand, which contributed to the rise in costs due to higher raw material prices and increased expenses for high-end technology talent and product certification[20]. - The company has developed nine categories of innovative products, including composite insulators and rubber seals, enhancing the technology level of power transmission and transformation equipment[33]. - As of June 30, 2022, the company holds 344 domestic patents, including 104 invention patents, and 57 overseas patents, showcasing its strong R&D capabilities[48]. - The company’s R&D expenses rose by 42.11% to 18,274,893.33 CNY, driven by increased salaries for R&D personnel and higher material and testing costs[66]. Market Position and Strategy - The company focuses on the research, production, and sales of composite insulation products for power systems, which are crucial for the national grid construction[31]. - The state grid plans to invest RMB 380 billion in high-voltage projects during the "14th Five-Year Plan," which is expected to drive demand for high-end insulators[31]. - The company aims to address the increasing demand for reliable and economical power supply solutions amid challenges in land resource acquisition[32]. - The company has established partnerships with over 1,000 clients, including major domestic and international electrical equipment suppliers, enhancing its market presence and collaboration opportunities[49]. Operational Challenges - The company faced challenges due to rising costs and the impact of the pandemic, which affected profitability despite the increase in revenue[20]. - The company's operating costs increased by 42.96% to 281,201,453.27 CNY, primarily due to rising raw material prices and increased labor costs[62]. - The company has a strong market insight advantage, continuously identifying and addressing current and future sustainability issues in the power industry[45]. Compliance and Governance - The company has been recognized as a "National Green Factory" by the Ministry of Industry and Information Technology on January 15, 2022[100]. - The company has maintained a good integrity status, with no records of failing to fulfill court judgments or large debts due[124]. - The company has committed to reducing and regulating related party transactions to enhance operational efficiency[115]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 42,122[139]. - The total number of shares held by the top ten shareholders is 360,000,000, accounting for 85.73% of the total shares[138]. - Shanghai Shenma Electric Holding Co., Ltd. holds 270,000,000 shares, representing 62.46% of the total shares[141].

Financial Performance - The company's operating revenue for Q1 2022 was ¥161,245,840.72, representing a year-on-year increase of 35.49%[5] - The net profit attributable to shareholders was ¥812,386.19, showing a significant decline of 91.44% compared to the same period last year[5] - The company's basic and diluted earnings per share were both ¥0.00, indicating no earnings for the period[5] - The net profit for the first quarter of 2022 was CNY 812,386.19, a significant decrease from CNY 9,494,170.25 in the first quarter of 2021, reflecting a decline of approximately 91.5%[34] - The total profit for the first quarter of 2022 was CNY 438,410.21, a sharp decline from CNY 11,588,916.51 in the first quarter of 2021, indicating a decrease of about 96.2%[32] - The company's operating profit decreased to ¥1,067,958.92 from ¥12,207,563.03, representing a decline of approximately 91.2% year-over-year[50] - Net profit for the period was ¥1,364,548.90, down from ¥10,014,136.77, indicating a decrease of about 86.3% compared to the previous year[50] - The total comprehensive income for the period was ¥1,364,548.90, down from ¥10,014,136.77, reflecting a decrease of approximately 86.3% year-over-year[52] Cash Flow - The net cash flow from operating activities was -¥66,135,038.68, an increase in outflow of 864.08% year-on-year[5] - The net cash flow from operating activities for the first quarter of 2022 was negative CNY 66,135,038.68, worsening from negative CNY 6,859,914.13 in the first quarter of 2021[38] - The company's cash and cash equivalents increased by 184,078,592.19 RMB, reaching a total of 500,625,474.81 RMB at the end of the period[40] - Cash and cash equivalents as of March 31, 2022, amounted to RMB 500,705,690.81, up from RMB 316,558,888.62 in the same period last year[22] - The company's net cash flow from financing activities was 49,258,666.67 RMB, compared to a negative cash flow of -270,666.64 RMB in the previous period[40] - Investment cash inflows totaled ¥569,475,656.90, significantly higher than ¥81,179,540.12, showing an increase of approximately 600.0% year-over-year[52] - The cash flow from investing activities was 203,260,593.44 RMB, a significant increase from 64,722,427.03 RMB in the previous period[40] Assets and Liabilities - Total assets at the end of Q1 2022 were ¥2,001,359,822.31, a slight increase of 1.96% from the end of the previous year[7] - The total assets of the company reached RMB 2,001,359,822.31, compared to RMB 1,962,883,009.45 at the end of 2021[29] - The total liabilities of the company were RMB 415,686,633.92, compared to RMB 378,022,030.52 at the end of 2021[29] - The total liabilities increased to 415,363,145.65 RMB from 377,645,490.07 RMB in the previous period[46] - The total current assets reached 1,248,938,042.62 RMB, slightly up from 1,235,101,251.78 RMB in the previous year[44] - The company's total equity reached 1,591,577,335.70 RMB, slightly up from 1,590,212,786.80 RMB[46] Operating Costs and Expenses - The company experienced a 77.62% increase in operating costs, largely due to rising raw material prices[11] - Total operating costs for the first quarter of 2022 were CNY 162,930,972.20, up from CNY 109,877,344.72 in the previous year, indicating a rise of about 48.2%[32] - The company incurred research and development expenses of ¥9,718,805.22, up from ¥5,835,416.90, which is an increase of about 66.5%[50] - The financial expenses rose to ¥1,533,384.15 from ¥623,743.36, indicating an increase of approximately 145.0%[50] - The company reported a significant increase in financial expenses, which rose to CNY 1,533,484.80 in the first quarter of 2022 from CNY 625,253.93 in the previous year, reflecting an increase of approximately 144.5%[32] - The company reported a decrease in sales expenses to CNY 10,213,771.44 in the first quarter of 2022, down from CNY 15,380,810.41 in the previous year, which is a reduction of approximately 33.5%[32] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,435, with the largest shareholder holding 62.46% of the shares[15] - The company's equity attributable to shareholders was ¥1,585,673,188.39, reflecting a marginal increase of 0.05% compared to the previous year[7] Market and Product Development - The increase in operating revenue was primarily driven by higher sales of insulated products for power distribution and transmission[11] - The company maintained its established cooperation prices to enhance customer confidence in product replacement despite market challenges[19] - The company invested in marketing, R&D, manufacturing, and management to meet the growing market demand[19] - The company is focused on developing composite external insulation products to replace traditional materials, aiming for safer and more economical power grids[19] - Inventory as of March 31, 2022, was RMB 183,283,588.14, an increase from RMB 153,031,161.30 in the previous year[22] - The company reported a significant increase in accounts receivable, totaling RMB 352,215,610.93, compared to RMB 351,552,867.65 in the previous year[22]

Financial Performance - The company's operating revenue for 2021 was ¥731,174,912.37, representing a year-over-year increase of 10.29% compared to ¥662,973,845.22 in 2020[23]. - The net profit attributable to shareholders of the listed company decreased by 23.05% to ¥100,571,597.38 in 2021 from ¥130,699,588.58 in 2020[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 37.95% to ¥74,747,733.04 in 2021[23]. - The net cash flow from operating activities decreased by 53.84% to ¥45,376,680.48 in 2021, down from ¥98,312,871.91 in 2020[23]. - The company's total assets increased by 42.24% to ¥1,962,883,009.45 at the end of 2021, compared to ¥1,379,980,029.69 at the end of 2020[23]. - The weighted average return on equity decreased by 4.28 percentage points to 7.80% in 2021 from 12.08% in 2020[23]. - The basic earnings per share decreased by 27.27% to ¥0.24 in 2021, down from ¥0.33 in 2020[23]. - The gross profit margin for the main business in 2021 was 34.65%, a decrease of 9.36 percentage points year-on-year[78]. - The main business revenue increased by 10.38% year-on-year, reaching ¥723,685,686.97[78]. - Operating costs for the main business rose by 28.83% year-on-year, totaling ¥472,953,179.11[78]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares, totaling approximately RMB 43.23 million (including tax) to shareholders[7]. - The company held its annual shareholders' meeting on April 20, 2021, where several key reports and proposals were approved, including the financial settlement report for 2020[152]. - In 2020, the company distributed a cash dividend of RMB 1.30 per 10 shares, amounting to RMB 52,005,783.70, which represented 39.79% of the net profit attributable to shareholders[196]. - The company's profit distribution policy is in compliance with relevant regulations and has clear standards and procedures[200]. Audit and Compliance - The company has received a standard unqualified audit report from PwC Zhongtian[6]. - The financial report is guaranteed to be true, accurate, and complete by the company's responsible persons[6]. - The board of directors confirmed that all members attended the board meeting, ensuring the integrity of the annual report[5]. - There are no non-operating fund occupations by controlling shareholders or related parties reported[8]. - The company has not violated decision-making procedures for external guarantees[8]. - The independent directors have fulfilled their responsibilities and ensured the protection of minority shareholders' rights[200]. - The company has not engaged in any significant mergers or acquisitions during the reporting period[150]. - The company has not reported any significant changes in competition or business operations that would affect its independence[153]. Research and Development - The company applied for 66 domestic patents during the reporting period, including 28 invention patents[42]. - Research and development expenses in 2021 were ¥38,298,714.35, an increase of 35.05% compared to the previous year[77]. - The total R&D investment accounted for 5.24% of operating revenue, with no capitalized R&D expenditures[97]. - The company has developed products addressing industry challenges, such as rubber sealing components and composite insulators for substations[65]. - The company is investing 100 million yuan in R&D for advanced electrical materials over the next fiscal year[165]. Market and Product Development - The company plans to participate in the construction of 24 AC and 14 DC UHV projects during the "14th Five-Year Plan" period, with a total investment of ¥380 billion[46]. - The company aims to expand its market share in composite insulation products, supported by existing customer recognition and strategic goals[124]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[165]. - New product development includes the launch of a next-generation power insulation product, expected to contribute an additional 300 million yuan in revenue[165]. - The company plans to strengthen its global marketing network to improve coverage and enhance marketing capabilities, aiming to increase domestic and international market share of existing products[137]. Operational Efficiency and Challenges - The decline in net profit was attributed to rising upstream raw material prices and increased expenses in R&D, sales, and management[24]. - The net cash flow from operating activities was impacted by increased payments for materials, wages, and taxes despite higher receivables[27]. - The company's direct costs accounted for 73.39% of total costs, up from 67.88% in the previous year, indicating a significant increase in direct costs[87]. - Sales expenses increased by 31.42% to ¥59,212,628.78 in 2021, primarily due to higher personnel salaries, hospitality expenses, and import/export costs[96]. - The company has established a strict supplier management system, ensuring that all raw materials are sourced from qualified suppliers, enhancing procurement efficiency and quality control[57]. Governance and Management - The company has established a governance structure that includes a clear division of responsibilities among the shareholders' meeting, board of directors, supervisory board, and management[150]. - The company has a total of 360 million shares outstanding, with no changes in shareholding for key executives during the reporting period[161]. - The total remuneration for all directors, supervisors, and senior management was consistent with the actual disclosed figures[175]. - The company has established a salary policy that includes a performance-based bonus system for middle and senior management, sales personnel, and production staff[190]. - The company emphasizes talent development through a structured training program aimed at enhancing employee skills and organizational capability[191].

Financial Performance - The company's operating revenue for the third quarter was ¥161,395,352.01, a decrease of 5.62% compared to the same period last year[5] - The net profit attributable to shareholders was ¥20,298,191.35, down 47.95% year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥9,525,811.65, a decline of 71.73% compared to the previous year[5] - Basic earnings per share for the quarter were ¥0.05, a decrease of 49.88% compared to the same period last year[7] - Total operating revenue for the first three quarters of 2021 reached ¥491,160,318.13, an increase of 7.5% compared to ¥457,842,721.76 in the same period of 2020[27] - Net profit for the first three quarters of 2021 was ¥63,688,858.00, a decrease of 33.6% from ¥95,949,822.54 in the same period of 2020[29] - Basic and diluted earnings per share for the first three quarters of 2021 were both ¥0.16, down from ¥0.24 in the previous year[30] - The company reported a profit before tax of ¥85,911,611.43 for the first three quarters of 2021, down from ¥128,843,093.84 in the previous year[29] Cash Flow and Assets - The cash flow from operating activities for the year-to-date period was ¥45,230,775.75, an increase of 90.36% year-on-year[5] - Cash inflow from operating activities totaled ¥409,842,988.78, compared to ¥335,755,941.25 in the first three quarters of 2020, reflecting a growth of 22.0%[31] - The cash inflow from financing activities amounted to CNY 419,188,575.61, leading to a net cash flow from financing activities of CNY 366,459,955.66, compared to -CNY 88,236,765.80 in the previous year[33] - The ending balance of cash and cash equivalents was CNY 384,345,319.19, compared to CNY 232,978,446.81 at the end of the previous year[34] - The cash and cash equivalents amounted to RMB 386,561,445.73, compared to RMB 226,801,512.75 at the end of 2020, reflecting a growth of approximately 70.50%[23] - The total current assets increased to RMB 1,275,655,714.62 from RMB 814,206,810.02 at the end of 2020, representing a growth of approximately 56.67%[23] - The company's total assets reached RMB 1,903,304,315.38, up from RMB 1,379,980,029.69 at the end of 2020, indicating an increase of about 38.00%[24] Liabilities and Equity - The total liabilities as of the end of the reporting period were ¥355,325,618.71, compared to ¥261,967,464.49 at the end of the previous year, indicating a significant increase[27] - The total current liabilities rose to RMB 293,811,068.28 from RMB 204,905,033.96, marking an increase of approximately 43.36%[24] - The total equity attributable to shareholders of the parent company was ¥1,547,978,696.67, up from ¥1,118,012,565.20 in the same period of 2020, representing a growth of 38.5%[27] Inventory and Expenses - The company reported a significant increase in inventory by 96.73%, attributed to rising raw material prices and increased production capacity[14] - Research and development expenses for the first three quarters of 2021 amounted to ¥21,166,085.45, an increase of 28.5% from ¥16,438,075.12 in the same period of 2020[27] - The total cash outflow for employee compensation was CNY 142,835,785.45, an increase from CNY 111,376,713.24[33] - The cash paid for taxes was CNY 83,241,288.08, compared to CNY 62,810,962.86 in the previous year[33] Shareholder Information - The total number of common shareholders at the end of the reporting period is 16,196[16] - Shanghai Shima Power Holdings Co., Ltd. holds 62.46% of the shares, making it the controlling shareholder[18] - The company completed a non-public offering of 32,218,837 shares at a price of RMB 13.16 per share, raising a net amount of RMB 418,283,057.17[20] Other Information - The weighted average return on equity decreased by 3.49 percentage points to 5.36% year-to-date[7] - The company has not disclosed any significant new product developments or market expansion strategies in the current report[19] - The company reported a decrease in fixed assets to RMB 351,406,548.58 from RMB 358,577,055.89, a decline of about 2.00%[24] - The company's deferred income increased to ¥61,514,550.43 from ¥57,062,430.53, reflecting a growth of 7.5%[27] - The total cash outflow from investing activities was CNY 362,936,560.21, up from CNY 295,781,985.70, resulting in a net cash flow from investing activities of -CNY 244,828,267.43[33] - The cash inflow from investment recovery was CNY 116,000,000.00, down from CNY 320,000,000.00 in the previous year[33] - The cash paid for fixed assets and intangible assets was CNY 46,936,560.21, an increase from CNY 25,781,985.70[33] - The cash paid for dividends and interest was CNY 52,031,810.26, compared to CNY 88,017,674.80 in the previous year[33] - The impact of exchange rate changes on cash and cash equivalents was -CNY 3,945,112.05, compared to -CNY 779,249.07 in the previous year[33]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥329,764,966.12, representing a year-on-year increase of 14.97% compared to ¥286,839,032.25 in the same period last year[19]. - The net profit attributable to shareholders of the listed company decreased by 23.82% to ¥43,390,666.65 from ¥56,955,480.21 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was ¥40,831,633.60, down 25.07% from ¥54,490,580.45 in the same period last year[19]. - Basic earnings per share for the reporting period were ¥0.11, down 21.43% from ¥0.14 in the same period last year[19]. - The company reported a total comprehensive income of approximately ¥44.78 million for the first half of 2021, down 21.38% from ¥56.99 million in the same period of 2020[148]. - The total comprehensive income for the period was approximately ¥56,955,480.21[189]. Cash Flow and Assets - The company's cash flow from operating activities was ¥29,755,314.63, a significant improvement from a negative cash flow of -¥1,866,095.84 in the previous year[19]. - The company's net cash flow from operating activities increased to 29.7553 million yuan, up 3,162.14 million yuan from the same period last year, primarily due to increased collection of receivables and export tax refunds[23]. - Cash generated from operating activities was approximately ¥29.76 million, compared to a cash outflow of ¥1.87 million in the first half of 2020[154]. - The total assets of the company as of June 30, 2021, were ¥1,392,825,392.95, a slight increase from ¥1,379,980,029.69[124]. - Total current assets amounted to ¥797,152,755.26, a decrease of 2.6% from ¥814,206,810.02 on December 31, 2020[119]. - Cash and cash equivalents increased to ¥246,177,932.70 from ¥226,801,512.75, reflecting an increase of 16.2%[119]. - Total liabilities increased to ¥283,427,944.80 from ¥261,967,464.49, marking an increase of 8.5%[124]. Expenses and Costs - Operating costs increased by 27.67% due to rising raw material prices[51]. - Sales expenses increased by 22.73% year-on-year as the company accelerated its global market layout and completed sales coverage for global grid customers[23]. - R&D expenses rose by 20.73% year-on-year due to increased investment in personnel and software/hardware[23]. - Management expenses increased by 38.99% year-on-year, attributed to the completion of the smart factory project and increased asset depreciation[23]. - Research and development expenses for the first half of 2021 amounted to ¥12,859,382.83, an increase of 20.6% from ¥10,651,393.75 in the previous year[134]. Market Position and Strategy - The company is positioned in the electrical machinery manufacturing industry, closely linked to national infrastructure development, with a focus on composite insulation products for power systems[30][31]. - The company aims to replace traditional ceramic and glass materials with composite insulation products, despite facing rising raw material costs[22]. - The company has committed to enhancing its global market presence and expanding its product offerings in response to increasing demand in the energy sector[30][31]. - The company is actively involved in the development of new products and solutions to address existing and sustainable development challenges in the power industry[32]. Intellectual Property and Innovation - The company holds 308 domestic patents and 50 foreign patents, demonstrating its strong R&D capabilities[40]. - The company added 43 new authorized patents during the reporting period, including 41 domestic and 2 foreign patents[48]. - The company has established a competitive advantage through technology innovation and product performance, ensuring high reliability and safety in power system operations[32][34]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,423[106]. - Shanghai Shima Power Holding Co., Ltd. holds 67.49% of the company's shares, making it the controlling shareholder[111]. - The top ten shareholders include Chen Xiaoqin with 22.50% of shares and other individual shareholders with minor stakes[110]. Compliance and Governance - The company maintains a good integrity status, with no records of failing to fulfill court judgments or significant debts due[94]. - There are no significant lawsuits or arbitration matters during the reporting period[94]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[92]. - The company has adhered to commitments related to shareholding intentions and reductions as outlined in its IPO prospectus[83][84].

Financial Performance - Operating revenue for the period was CNY 119,013,281.10, representing a year-on-year increase of 15.29%[17] - Net profit attributable to shareholders was CNY 8,140,097.52, down 53.15% from the previous year[17] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 6,837,309.21, a decrease of 61.60% year-on-year[17] - The weighted average return on equity decreased by 54.38 percentage points to 0.73%[17] - Basic and diluted earnings per share were both CNY 0.02, a decline of 50.00% compared to the previous year[17] - The total operating profit for Q1 2021 was ¥12,207,563.03, a decrease from ¥24,837,633.48 in Q1 2020, representing a decline of approximately 51.0%[64] - The net profit for Q1 2021 was ¥8,660,064.04, down from ¥17,387,066.03 in Q1 2020, indicating a decrease of about 50.2%[64] Cash Flow - The net cash flow from operating activities was negative CNY 6,859,914.13, worsening by 30.21% compared to the same period last year[17] - Cash inflow from operating activities totaled ¥122,701,561.16 in Q1 2021, compared to ¥97,607,891.32 in Q1 2020, reflecting an increase of approximately 25.7%[68] - Cash outflow from operating activities was ¥129,561,475.29 in Q1 2021, up from ¥102,876,077.14 in Q1 2020, marking an increase of about 26.0%[68] - The net cash flow from operating activities for Q1 2021 was -¥6,859,914.13, compared to -¥5,268,185.82 in Q1 2020, indicating a worsening of approximately 30.2%[68] - The company reported a significant increase in cash flow from tax refunds, amounting to 11,466,505.41 RMB, a 165.49% increase compared to the previous period[32] - Cash and cash equivalents at the end of Q1 2021 amounted to ¥277,863,081.68, compared to ¥120,338,525.37 at the end of Q1 2020, indicating an increase of approximately 130.9%[70] Expenses - Sales expenses increased by 44.72% year-on-year, reflecting enhanced marketing efforts and expanded global market coverage[31] - R&D expenses rose by 35.02% year-on-year, driven by increased personnel and software/hardware investments to boost innovation and product development[35] - Management expenses surged by 68.03% year-on-year, primarily due to depreciation from fixed assets and consulting fees for industry chain acquisitions[35] - Total operating costs for Q1 2021 were CNY 109,877,344.72, up 40.5% from CNY 78,351,272.39 in Q1 2020[55] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,326,079,171.78, a decrease of 3.91% compared to the end of the previous year[17] - Non-current assets totaled 560,864,749.95, down from 565,773,219.67, representing a decrease of about 0.8%[46] - Current liabilities decreased significantly from 204,905,033.96 to 143,758,563.36, a reduction of approximately 30%[46] - Total liabilities decreased from 261,967,464.49 to 199,926,509.06, a decline of approximately 23.7%[46] - The company's total equity increased from 1,118,012,565.20 to 1,126,152,662.72, a growth of about 0.7%[46] Shareholder Information - The total number of shareholders at the end of the reporting period was 16,579, with the largest shareholder holding 67.49% of the shares[23] - The company’s actual controllers hold a combined 89.99% of the shares, indicating a strong control over the company[26] Strategic Initiatives - The company is focusing on the development of maintenance-free composite insulation products to accelerate the replacement of traditional products in the global power grid market[29] - The company has completed the non-public issuance of A-shares, approved by the China Securities Regulatory Commission, to support its growth initiatives[36] Other Financial Metrics - The company reported a credit impairment loss of CNY 890,033.72 in Q1 2021, compared to a loss of CNY 780,282.24 in Q1 2020[58] - The company experienced a fair value change loss of CNY 551,470.15 in Q1 2021[58] - Cash outflow for the acquisition of fixed assets, intangible assets, and other long-term assets was $16,457,113.09, a decrease from $17,603,728.79 in the previous period[72] Compliance and Reporting - The company did not apply the new leasing standards for the current reporting period[74] - There were no adjustments made to prior comparative data due to the new leasing standards[76] - The company has not issued an audit report for the current period[76]

Financial Performance - The company's operating revenue for 2020 was RMB 662,973,845.22, representing a 5.44% increase compared to RMB 628,744,707.16 in 2019[25]. - The net profit attributable to shareholders for 2020 was RMB 130,699,588.58, which is a 2.71% increase from RMB 127,245,396.11 in 2019[25]. - The net profit after deducting non-recurring gains and losses was RMB 120,469,617.75, up 3.09% from RMB 116,855,688.91 in 2019[25]. - The net cash flow from operating activities decreased by 18.99% to RMB 98,312,871.91 from RMB 121,357,814.40 in 2019[25]. - The total assets at the end of 2020 were RMB 1,379,980,029.69, a 1.53% increase from RMB 1,359,132,452.60 at the end of 2019[25]. - The net assets attributable to shareholders increased by 3.97% to RMB 1,118,012,565.20 from RMB 1,075,322,764.42 at the end of 2019[25]. - The basic earnings per share for 2020 was RMB 0.33, a decrease of 2.94% compared to RMB 0.34 in 2019[26]. - Diluted earnings per share (EPS) decreased by 2.94% to CNY 0.33 compared to the previous quarter[29]. - Basic EPS excluding non-recurring gains and losses decreased by 3.23% to CNY 0.30 compared to the previous quarter[29]. - Weighted average return on equity (ROE) decreased by 2.23 percentage points to 12.08% compared to the previous quarter[29]. - Net profit attributable to shareholders for Q4 2020 was CNY 34,749,766.04, a decrease from Q3 2020's CNY 38,994,342.33[30]. - Total operating revenue for Q4 2020 was CNY 205,131,123.46, showing an increase from Q3 2020's CNY 171,003,689.51[30]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 1.30 per 10 shares, totaling approximately RMB 52,005,783.70[7]. - In 2020, the company distributed cash dividends of RMB 2.20 per 10 shares, totaling RMB 88,009,787.80, which accounted for 69.17% of the net profit attributable to shareholders[150]. - The proposed cash dividend for 2020 is RMB 1.30 per 10 shares, with an expected total distribution of RMB 52,005,783.70[150]. - The cash dividend per 10 shares was RMB 1.30 in 2020, down from RMB 2.20 in 2019[151]. - The company did not propose any cash profit distribution plan for the reporting period despite having positive distributable profits[154]. - The company did not distribute any dividends in 2018, with a net profit of ¥121,554,075.66[151]. Research and Development - The company is actively involved in technology innovation collaborations with major clients and research institutions, enhancing its R&D capabilities[58]. - The company aims to leverage its R&D and manufacturing advantages to develop innovative products that address industry challenges, enhancing the reliability and economic efficiency of power systems[119]. - The company plans to implement a comprehensive upgrade of its R&D capabilities, focusing on new materials and technologies to ensure the safety and economic operation of power systems[125]. - Research and development expenses totaled ¥28,358,856.96, which is 4.28% of operating revenue, with 151 R&D personnel making up 12.60% of the total workforce[90]. - The company applied for 92 patents during the reporting period, with 64 new patents granted[70]. - As of December 31, 2020, the company holds 267 domestic patents and 54 international patents, showcasing its commitment to innovation[58]. Market Position and Strategy - The company is a leading manufacturer of composite insulators and rubber sealing components for power systems, with no significant changes in its main business during the reporting period[40]. - Major domestic clients include State Grid, Southern Power Grid, and large power equipment manufacturers, with international clients like ABB, GE, and Siemens[45][47]. - The company has established a strategic partnership with GE Group and is in the process of supply certification with Siemens and ABB[113]. - The company has built strong relationships with over 1,000 clients, including major domestic and international electrical equipment suppliers[62]. - The company recognizes the risk of market competition and plans to leverage digital factories to maintain its industry position and market share[138]. - The strategic plan includes expanding domestic and international market shares through enhanced marketing capabilities and channel development, with a focus on collaborative growth across product lines[124]. Operational Efficiency - The company has established a comprehensive production management system, integrating various management information systems to ensure high-quality and efficient operations[44]. - The company implemented a comprehensive management consulting project to enhance operational efficiency and management effectiveness[70]. - The company will enhance its operational management capabilities over the next three years through business consulting, customer-centric process reengineering, system optimization, and talent acquisition and development[132]. - The company aims to deepen its LTC process and improve its CRM system, as well as optimize its IPD process and enhance its PLM system[132]. Financial Management - The company aims to improve its financial management capabilities and reduce accounts receivable risks through customer classification and active collection efforts[143]. - The company's cash and cash equivalents decreased by 33.53% to ¥226,801,512.75, primarily due to increased investments in financial products[96]. - The company faced a tax rate increase from 15% to 25% due to the failure to renew its high-tech enterprise status, impacting profits by ¥18,002,400, which is 10.25% of total profits[92]. - The company will adopt various hedging strategies to mitigate foreign exchange risks associated with its exports[144]. Corporate Governance - The company has committed to measures to avoid competition and regulate related transactions as part of its corporate governance[161][162]. - The company has made commitments regarding the stabilization of stock prices within three years post-IPO[159]. - The company has outlined plans for filling the dilution of immediate returns due to stock issuance[160]. - The company maintained good integrity status, with no records of failing to fulfill court judgments or significant debts due[173]. - The company has no major litigation or arbitration matters during the reporting period[173]. Social Responsibility - The company donated RMB 1 million to the Nantong COVID-19 prevention command and RMB 100,000 to the Rugao COVID-19 prevention command during the reporting period[188]. - The company provided assistance of 42,000 yuan to employees in need and donated 341,300 yuan to the Rugao Charity Foundation for medical aid to families in difficulty[189].

2020 年第三季度报告 公司代码：603530 公司简称：神马电力 江苏神马电力股份有限公司 2020 年第三季度报告 1 / 27 2020 年第三季度报告 目录 一、 二、 11 四、 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 27 2020 年第三季度报告 单位：元 币种：人民币 3 / 27 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人马斌、主管会计工作负责人贾冬妍及会计机构负责人（会计主管人员）贾冬妍保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-------------------------------------------------|-------- ...