Shareholder Returns - The company plans to distribute a total of 56,540,000 shares to shareholders at a rate of 4 shares for every 10 shares held, based on a distributable profit of RMB 321,325,533.71 as of December 31, 2014[8]. - The company will also distribute cash dividends amounting to RMB 14,135,000, at a rate of RMB 1.00 per share (including tax), based on the same distributable profit[8]. - The company’s cash dividend policy stipulates a minimum annual cash distribution of 15% of the distributable profits, with a commitment to maintain investor interests[105]. - In 2014, the company distributed cash dividends amounting to 14,135,000 RMB, representing 21.74% of the net profit attributable to shareholders[107]. Financial Performance - The company achieved operating revenue of CNY 1,593,266,603.49, representing a year-on-year increase of 19.48%[33]. - Net profit attributable to shareholders was CNY 65,015,725.10, a growth of 3.92% compared to the previous year[33]. - The net profit after deducting non-recurring gains and losses was CNY 53,080,248.75, reflecting a decrease of 6.51% year-on-year[33]. - The company's total assets increased by 17.14% to CNY 1,644,552,581.15 compared to the end of the previous year[33]. - Net assets attributable to shareholders rose by 47.66% to CNY 771,461,997.44 at the end of the reporting period[33]. - Basic earnings per share decreased by 3.51% to CNY 0.55, while diluted earnings per share remained the same[34]. - The gross profit margin decreased by 1.9 percentage points to 13.00% compared to the previous year[61]. - The company’s total revenue for the year reached ¥1,592,164,729, with a year-on-year increase of 19.50%[61]. Business Operations - The main business focus remains on the research, production, and sales of various wires and cables, with an emphasis on submarine cables and high-voltage power cables[25]. - The company has not experienced any changes in its main business since its establishment[26]. - The company has engaged Tianjian Accounting Firm to provide a standard unqualified audit report for the fiscal year[7]. - The company has outlined potential risks in its annual report, advising investors to pay attention to these risks[15]. - The company’s registered capital is RMB 50 million, and it has maintained its operational address in Ningbo since its establishment[23]. - The company’s stock is listed on the Shanghai Stock Exchange under the code 603606[22]. Market Position and Strategy - The company has established a leading position in the submarine cable market with an average market share exceeding 35% during the reporting period[69]. - The company is the only domestic producer capable of manufacturing and delivering 220kV submarine cables and dynamic cables, showcasing its technological leadership[70]. - The company has long-term strategic partnerships with major clients such as State Grid and CNOOC, which significantly enhance its operational performance and brand influence[71]. - The company aims to become a specialized supplier of marine cable systems, focusing on high-end cable products for national projects in smart grids and renewable energy[93]. - The company plans to expand through mergers and acquisitions, capital investments, and cooperative development to enhance its product structure and competitive strength[93]. Research and Development - New products, particularly high-voltage submarine cables, are expected to enhance brand recognition and contribute to profit growth[44]. - The company has established a strong R&D team and is recognized as a national high-tech enterprise, enhancing its innovation capabilities[67]. - The company has developed multiple new products, including 1500V and 750V DC cables for rail transit and a 220kV three-core optical-electrical composite submarine cable, which have received patents[181]. - The company has a commitment to innovation, as evidenced by the development of national-level key new products such as low-smoke halogen-free data cables[180]. Risk Management - The company has outlined potential risks in its annual report, advising investors to pay attention to these risks[15]. - The domestic submarine cable market is still developing, with significant uncertainty regarding the implementation of national policies and plans that could affect market demand[101]. - Raw material costs account for over 90% of product costs, with copper materials making up approximately 75% of these costs, leading to increased difficulty in controlling production costs due to price volatility[101]. Corporate Governance - The company ensures compliance with information disclosure regulations, providing equal access to information for all investors[111]. - The company has a commitment to not repurchase shares if it would lead to non-compliance with legal listing requirements[129]. - The board will submit a specific implementation plan for share repurchase to the shareholders' meeting for approval[129]. - The company has implemented a competitive salary strategy, slightly above the industry average, to attract and retain talent[191]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal requirements[196]. Social Responsibility - The company has established a scholarship fund at Ningbo University and engages in various charitable activities, enhancing its corporate social responsibility profile[108]. - The company emphasizes maintaining harmonious labor relations and has been recognized as an advanced enterprise in creating harmonious labor relations in Zhejiang Province[109]. - The company is committed to improving energy efficiency and promoting environmental awareness, implementing measures to reduce costs and enhance competitiveness[110].

Financial Performance - Net profit attributable to shareholders decreased by 7.02% to CNY 29,103,766.96 compared to the same period last year[10]. - Operating revenue for the first nine months reached CNY 1,101,236,868.57, an increase of 23.24% year-on-year[9]. - Basic earnings per share increased by 6.06% to CNY 0.35, while diluted earnings per share decreased by 18.18% to CNY 0.27[10]. - The weighted average return on net assets increased by 0.05 percentage points to 7.52%[10]. - Total operating revenue for Q3 2023 reached ¥423.20 million, a 30.5% increase from ¥324.61 million in Q3 2022[47]. - Net profit for Q3 2023 was ¥12.41 million, representing a 93.1% increase compared to ¥6.41 million in Q3 2022[48]. - The company achieved a total operating profit of ¥12.75 million in Q3 2023, compared to ¥5.32 million in Q3 2022, an increase of 139.5%[48]. - The total comprehensive income attributable to the parent company for Q3 2023 was ¥12.41 million, up from ¥6.41 million in Q3 2022, reflecting a 93.1% increase[48]. Cash Flow - Net cash flow from operating activities improved significantly, showing a net inflow of CNY 668,144.66 compared to a net outflow of CNY 95,833,259.81 in the same period last year[9]. - Cash flow from operating activities for the first nine months of 2023 was ¥1.13 billion, compared to ¥1.01 billion in the same period of 2022, reflecting an 11.8% increase[54]. - The cash flow from operating activities for the third quarter was CNY 668,144.66, a recovery from a negative cash flow of CNY 95,833,259.81 in the same quarter last year[57]. - The total cash inflow from operating activities was CNY 1,098,293,249.53, compared to CNY 977,608,084.57 in the previous year, representing a growth of 12.3%[58]. Assets and Liabilities - Total assets increased by 20.94% to CNY 1,697,858,461.42 compared to the end of the previous year[9]. - The company's net assets attributable to shareholders increased by 42.58% to CNY 744,942,872.74 compared to the end of the previous year[9]. - The total liabilities increased to CNY 952,915,588.68 from CNY 881,409,770.32, which is an increase of about 8.08%[38]. - The company's equity attributable to shareholders reached CNY 744,942,872.74, up from CNY 522,460,878.19, representing a growth of approximately 42.49%[38]. - Accounts receivable grew by 31.62% to ¥521,469,666.42, reflecting an increase in uncollected sales revenue[19]. - Inventory levels increased to CNY 377,321,254.58 from CNY 339,481,689.41, indicating a rise of about 11.11%[36]. Shareholder Information - The total number of shareholders reached 28,440 by the end of the reporting period[15]. - The top shareholder, Ningbo Dongfang Group Co., Ltd., holds 36.87% of the shares, totaling 52,110,000 shares[15]. Financing Activities - The company raised ¥115,364,816.40 from financing activities, a 177.12% increase, due to public stock issuance and loan repayments[20]. - Total cash inflow from financing activities reached CNY 653,198,861.97, up from CNY 360,300,000.00 in the previous year, indicating a 81.3% increase[59]. - The company received CNY 417,526,316.00 in loans during the financing activities, an increase from CNY 360,300,000.00 in the previous year, marking a 15.5% growth[59]. Commitments and Regulations - The company has commitments to not transfer or manage shares for 36 months post-listing, with potential extensions based on stock performance[21]. - The company committed to maintaining the stock price not lower than the issuance price, with adjustments for dividends and capital increases[23]. - The company will publicly explain any failure to fulfill commitments and will apologize to shareholders and investors[23]. - The company will ensure compliance with regulations regarding related party transactions[25]. Stock Price Stabilization Measures - The company plans to repurchase shares as a method to stabilize the stock price if necessary[25]. - The company will announce the implementation status of stock price stabilization measures within two trading days after completion[29]. - The controlling shareholder will increase their holdings if the stock price remains below the latest audited net asset value for 20 consecutive trading days after the repurchase plan is completed[29]. - The company will stop distributing dividends if it fails to implement stock price stabilization measures[29].