证券代码：603700 证券简称：宁水集团 公告编号：2023-031 宁波水表（集团）股份有限公司 重要内容提示： 本次结项的募投项目名称：营销及服务网络建设项目 节余募集资金金额及用途：为提高募集资金使用效率、降低公司财务成 本，公司拟将"营销及服务网络建设项目"结项后剩余的募集资金 1,492.10 万 元（含利息收入，数据截至 2023 年 6 月 30 日，具体金额以资金转出当日专户余 额为准）用于永久补充流动资金。 上述事项已经公司第八届董事会第九次会议审议通过，尚需提交公司股 东大会审议。 一、募集资金基本情况 （一）募集资金基本情况 经中国证券监督管理委员会《关于核准宁波水表股份有限公司首次公开发行 股票的批复》（证监许可【2018】1725号）文核准，公司首次向社会公众公开发 行人民币普通股（A股）3,909万股，每股面值1.00元，每股发行价16.63元，募 集资金总额为人民币65,006.67万元，扣除发行费用人民币5,339.12万元，实际 募集资金净额为人民币59,667.55万元。上述募集资金已于2019年1月16日全部到 账,并经立信会计师事务所（特殊普通合伙）审验，出具了信会师 ...

国元证券股份有限公司关于宁波水表（集团）股份有限公司 部分募集资金投资项目结项并将节余资金永久补充流动资金 的核查意见 国元证券股份有限公司（以下简称"国元证券"或"保荐机构"）作为宁波 水表（集团）股份有限公司（以下简称"宁水集团"或"公司"）首次公开发行 股票并上市的持续督导保荐机构，根据《证券发行上市保荐业务管理办法》、《上 海证券交易所股票上市规则》、《上市公司监管指引第 2 号——上市公司募集资金 管理和使用的监管要求》和《上海证券交易所上市公司自律监管指引第 1 号—— 规范运作》等有关规定，就公司部分募集资金投资项目结项并将节余资金永久补 充流动资金情况进行了核查，具体情况如下： 一、募集资金情况 （一）募集资金基本情况 公司经中国证券监督管理委员会《关于核准宁波水表股份有限公司首次公开 发行股票的批复》（证监许可[2018]1725 号）的核准，公开发行人民币普通股（A 股）股票 3,909 万股，发行价为人民币 16.63 元/股。本次发行募集资金总额人 民币 65,006.67 万元，扣除发行费用人民币 5,339.12 万元，实际募集资金净额 为人民币 59,667.55 万元。立信会计 ...

宁波水表(集团)股份有限公司（以下简称"公司"）于 2023 年 8 月 25 日发布公司 2023 年半年度报告，为便于广大投资者更全面深入 地了解公司 2023 年半年度经营成果、财务状况，公司计划于 2023 年 09 月 05 日下午 13:00-14:00 举行 2023 年半年度业绩说明会，就投 资者关心的问题进行交流。 一、 说明会类型 会议召开时间：2023 年 09 月 05 日(星期二) 下午 13:00-14:00 会议 召开地点： 上海证券 交易所 上证路演 中心（ 网址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 08 月 29 日(星期二) 至 09 月 04 日(星期 一)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通 过公司邮箱 zqb@chinawatermeter.com 进行提问。公司将在说明会上 对投资者普遍关注的问题进行回答。 本次投资者说明会以网络互动形式召开，公司将针对 2023 年半 年度的经营成果及财务指标的具体情况与投资者进行互动交流和沟 通，在信息披露允许 ...

证券代码：603700 证券简称：宁水集团 公告编号：2023-020 宁波水表(集团)股份有限公司 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 05 月 24 日(星期三) 至 05 月 30 日(星期 二)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过公司邮箱 zqb@chinawatermeter.com 进行提问。公司将在说明会 上对投资者普遍关注的问题进行回答。 宁波水表(集团)股份有限公司（以下简称"公司"）已于 2023 年 4 月 29 日发布公司 2022 年年度报告及 2023 年第一季度报告，为便 于广大投资者更全面深入地了解公司2022 年度及2023年第一季度经 营成果、财务状况，公司计划于 2023 年 05 月 31 日下午 13:00-14:00 举行 2022 年度暨 2023 年第一季度业绩说明会，就投资者关心的问题 进行交流。 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2022 年度 及 2023 年 ...

Financial Performance - The company's operating revenue for Q1 2023 was CNY 312,136,244.40, representing a year-on-year increase of 27.69%[5] - The net profit attributable to shareholders for the same period was CNY 10,234,122.90, reflecting a significant increase of 71.54% compared to the previous year[5] - Basic and diluted earnings per share both stood at CNY 0.05, marking a growth of 66.67% year-on-year[6] - Total operating revenue for Q1 2023 reached CNY 312,136,244.40, a 27.7% increase from CNY 244,440,880.76 in Q1 2022[20] - Net profit for Q1 2023 was CNY 10,069,697.67, representing a 73.5% increase compared to CNY 5,802,254.77 in Q1 2022[21] - Earnings per share for Q1 2023 were CNY 0.05, up from CNY 0.03 in Q1 2022[22] Cash Flow - The net cash flow from operating activities was negative at CNY -114,057,957.45, indicating a cash outflow[5] - Cash flow from operating activities in Q1 2023 was negative CNY 114,057,957.45, an improvement from negative CNY 197,306,913.05 in Q1 2022[24] - Cash inflow from operating activities totaled CNY 409,737,644.24, compared to CNY 295,040,311.44 in Q1 2022[24] - Cash outflow from operating activities was CNY 523,795,601.69, up from CNY 492,347,224.49 in Q1 2022[24] - Investment activities generated a net cash outflow of CNY 22,395,155.08 in Q1 2023, compared to a net inflow of CNY 52,094,017.22 in Q1 2022[24] - Financing activities resulted in cash inflow of CNY 126,000,000.00 in Q1 2023, significantly higher than CNY 19,590,000.00 in Q1 2022[24] - Total cash inflow from financing activities amounted to $126 million, compared to $19.59 million in the previous period[25] - Cash outflow for debt repayment was $80 million, up from $5.6 million year-over-year[25] - Net cash flow from financing activities was $44.96 million, an increase from $7.73 million in the prior period[25] - The impact of exchange rate changes on cash and cash equivalents was a decrease of $716,116.28[25] - The net increase in cash and cash equivalents was a decrease of $92.21 million, compared to a decrease of $137.77 million previously[25] - The ending balance of cash and cash equivalents was $318.79 million, down from $389.13 million in the previous period[25] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,246,584,628.12, a decrease of 4.42% from the end of the previous year[6] - As of March 31, 2023, the company's total assets amounted to CNY 2,246,584,628.12, a decrease from CNY 2,350,421,284.77 as of December 31, 2022, representing a decline of approximately 4.4%[17] - The company's current assets totaled CNY 1,564,439,761.59, down from CNY 1,673,854,906.22, indicating a decrease of about 6.5%[18] - The company's cash and cash equivalents were CNY 328,498,221.12, a decrease from CNY 427,998,035.03, reflecting a decline of approximately 23.3%[17] - Accounts receivable stood at CNY 746,958,434.23, slightly down from CNY 752,206,154.13, showing a decrease of about 0.7%[17] - The total liabilities of the company were CNY 701,091,354.45, down from CNY 817,887,215.75, representing a reduction of approximately 14.3%[19] - The company's total equity was CNY 1,545,493,273.67, reflecting a decrease from CNY 1,532,534,068.02, indicating a slight increase of about 0.8%[19] - The company reported a decrease in inventory to CNY 424,839,068.76 from CNY 424,492,446.60, which is an increase of approximately 0.8%[18] - Short-term borrowings increased to CNY 132,087,388.88 from CNY 86,066,000.00, representing an increase of about 53.5%[19] - The company’s accounts payable decreased to CNY 330,942,290.74 from CNY 427,862,626.77, indicating a decline of approximately 22.7%[19] - The company’s long-term investments remained stable at CNY 69,061,372.07, slightly down from CNY 69,291,013.01, reflecting a decrease of about 0.3%[18] Expenses - The company experienced a 41.87% increase in selling expenses, attributed to business expansion and enhanced service-related costs[11] - Total operating costs for Q1 2023 were CNY 314,419,976.86, up 26.7% from CNY 248,180,976.08 in Q1 2022[20] - The company reported a government subsidy of CNY 5,431,052.32 included in non-operating income[7]

Financial Performance - The company's operating revenue for 2022 was CNY 1,554,958,423.76, a decrease of 9.45% compared to CNY 1,717,290,642.31 in 2021[26]. - The net profit attributable to shareholders for 2022 was CNY 126,387,869.92, down 46.30% from CNY 235,370,594.62 in 2021[26]. - The basic earnings per share for 2022 was CNY 0.63, a decline of 45.69% from CNY 1.16 in 2021[28]. - The net cash flow from operating activities for 2022 was CNY 84,251,373.07, a decrease of 47.67% compared to CNY 161,012,833.00 in 2021[27]. - The total assets at the end of 2022 were CNY 2,350,421,284.77, an increase of 5.83% from CNY 2,220,987,101.31 at the end of 2021[27]. - The weighted average return on equity for 2022 was 8.07%, down 7.41 percentage points from 15.48% in 2021[28]. - The company reported a net loss of CNY 4,316,088.61 in the first quarter of 2022, followed by a profit of CNY 63,217,312.22 in the fourth quarter[30]. - The company achieved total revenue of ¥1,554,958,423.76 in 2022, a decrease of 9.45% compared to the previous year[93]. - Net profit attributable to shareholders was ¥126,387,869.92, down 46.30% year-on-year[93]. - Total assets increased by 5.83% to ¥2,350,421,284.77 compared to the beginning of the year[93]. Dividend and Share Repurchase - The company plans to distribute a cash dividend of 3 RMB per 10 shares, totaling approximately 60.1 million RMB, which represents 47.55% of the net profit attributable to shareholders for 2022[6]. - The total amount paid for share repurchases during the reporting period was approximately 33.4 million RMB, combined with the proposed cash dividend, this accounts for 73.96% of the net profit attributable to shareholders[6]. - The company reported a total share capital of 203,242,000 shares, with 2,920,036 shares held in the repurchase account excluded from the dividend calculation[6]. Market and Industry Trends - The company is focused on expanding its market presence and developing new technologies, particularly in smart water meters and IoT applications[15]. - The company faced significant pressure on profits due to high raw material prices and intensified industry competition[29]. - The average price of mainstream products, such as NB-IoT smart water meters, declined by 7.00%-8.00% year-on-year, significantly impacting the company's performance[38]. - The sales revenue of smart 2.0 water meters increased by over 60% year-on-year, indicating strong market demand for new products[42]. - The company’s overseas sales revenue increased by 6.41% year-on-year, reflecting successful international market expansion efforts[42]. - The water meter industry remains fragmented with low concentration, leading to intensified competition due to product homogeneity[61]. - Policies promoting water infrastructure and rural revitalization are expected to drive industry development, providing potential benefits for the company[62]. - The company recognizes the increasing competition in the smart water meter market, with a focus on technological advancements and product differentiation[66]. - The smart water meter market is experiencing a clear upgrade trend towards intelligent hardware-based solutions, driven by policy guidance and technological demand[70]. - The demand for smart water meters is increasing due to stricter management requirements and the need for automation in water supply systems, with a focus on IoT and data integration[70]. Research and Development - The company applied for 128 patents and 23 software copyrights during the reporting period, demonstrating its commitment to innovation and technology development[48]. - The company has made significant investments in R&D, focusing on optimizing traditional products and developing new technologies to enhance core competitiveness[44]. - Research and development expenses amounted to ¥60,276,565.06, a decrease of 3.83% from the previous year[95]. - The company reported a total R&D expenditure of CNY 60,276,565.06, which accounted for 3.88% of total operating revenue[106]. - The company has a total of 208 R&D personnel, accounting for 17.05% of the total workforce[107]. Operational Efficiency and Challenges - The company is focusing on improving its operational efficiency and exploring new market opportunities to counteract the current challenges[29]. - The company has improved its supply chain management and production efficiency, ensuring quality and safety in production processes[49]. - The company is focused on developing comprehensive solutions for urban underground water supply network optimization, including hardware and software services[75]. - The company is committed to providing superior smart water solutions through the application of digital, information, and intelligent technologies in water meter manufacturing[69]. - The company is addressing the risk of intensified market competition and product price volatility by enhancing product quality and leveraging emerging technologies[168]. Governance and Compliance - The company has established a compliance management committee to enhance governance and compliance practices[175]. - The company has committed to transparent information disclosure, ensuring compliance with legal and regulatory requirements[175]. - The company held two shareholder meetings during the reporting period, ensuring equal rights for all shareholders, especially minority shareholders[172]. - The board of directors convened eight meetings, adhering to legal requirements and ensuring effective decision-making[173]. - The company has not faced any penalties from securities regulatory agencies in the past three years, indicating compliance with regulations[191]. Future Outlook and Strategic Goals - The company aims to develop the next generation of multi-parameter smart water meters to meet the needs of water supply enterprises for refined management and real-time data[63]. - The company plans to enhance the digitalization, networking, and intelligence of water resource management systems[64]. - The company aims to transition from traditional manufacturing to a "manufacturing + service" model, focusing on providing comprehensive smart water solutions over the next 4-6 years[156]. - The company has established a strategic goal to become a comprehensive group enterprise capable of providing full-field smart water services within 7-10 years[156]. - The company plans to leverage its 60 years of industry experience to overcome technical bottlenecks in smart water management and strengthen its competitive advantage[147].

Financial Performance - The company's operating revenue for Q3 2022 was ¥378,222,329.55, a decrease of 13.24% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2022 was ¥23,492,962.73, down 49.87% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥22,517,107.79, a decrease of 48.32% compared to the same period last year[5] - The basic earnings per share for Q3 2022 was ¥0.12, a decline of 47.83% year-on-year[6] - The net profit attributable to shareholders for the year-to-date was ¥64,515,151.49, a decrease of 60.78% compared to the same period last year[5] - The diluted earnings per share for the year-to-date was ¥0.12, reflecting a decline of 60.49% year-on-year[6] - Net profit for Q3 2022 was CNY 63,826,038.02, a decline of 61.0% from CNY 163,942,485.00 in Q3 2021[21] - Earnings per share for Q3 2022 was CNY 0.32, compared to CNY 0.81 in Q3 2021, indicating a significant drop in profitability[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,215,646,083.64, a decrease of 0.24% from the end of the previous year[6] - The equity attributable to shareholders at the end of the reporting period was ¥1,477,209,664.58, down 7.46% from the end of the previous year[6] - Total current assets as of September 30, 2022, amount to ¥1,640,534,768.21, a decrease from ¥1,813,260,040.57 in the previous year[16] - Total liabilities as of September 30, 2022, are ¥739,084,666.63, up from ¥624,651,476.97 in the previous year[18] - The company's total assets amounted to CNY 2,215,646,083.64 as of Q3 2022, slightly down from CNY 2,220,987,101.31 in the previous year[21] - The company's retained earnings decreased to CNY 694,198,891.01 from CNY 791,266,030.72 year-over-year, indicating a reduction in accumulated profits[21] - The total equity attributable to shareholders decreased to CNY 1,477,209,664.58 from CNY 1,596,294,758.44 year-over-year, reflecting a decline in shareholder value[21] Cash Flow - The company reported a net cash flow from operating activities of -¥155,386,334.60 for the year-to-date[6] - The net cash flow from operating activities was -155,386,334.60, compared to -121,319,128.59 in the previous year, indicating a decline in operational cash flow[25] - Total cash inflow from operating activities was 1,158,210,732.09, slightly up from 1,154,278,756.64 year-over-year[25] - Cash outflow from operating activities increased to 1,313,597,066.69 from 1,275,597,885.23, reflecting higher operational costs[25] - The net cash flow from investing activities was -143,545,694.96, a significant decrease from 76,271,628.59 in the previous year, indicating reduced investment returns[26] - Cash inflow from investing activities totaled 541,756,705.54, down from 1,048,517,807.83 year-over-year[26] - Cash outflow from investing activities was 685,302,400.50, compared to 972,246,179.24 in the previous year, showing a reduction in investment expenditures[26] - The net cash flow from financing activities was -5,893,690.92, an improvement from -74,065,691.27 in the previous year, suggesting better management of financing[26] - The total cash and cash equivalents at the end of the period were 224,288,603.56, down from 368,533,721.25 year-over-year[26] - The company received 299,090,000.00 in cash from borrowings, significantly higher than 88,000,000.00 in the previous year, indicating increased reliance on debt financing[26] - The company paid out 160,940,583.63 in dividends and interest, compared to 82,502,835.32 in the previous year, reflecting a commitment to shareholder returns despite cash flow challenges[26] Operational Challenges - The company attributed the profit fluctuations to the impact of recurring COVID-19 outbreaks and significant increases in raw material prices, particularly copper and iron[10] - The company has not reported any new product developments or market expansions in the current quarter[15] - The company plans to focus on market expansion and new product development to drive future growth, although specific figures were not disclosed in the report[20] - Total operating revenue for the first three quarters of 2022 was CNY 1,047,932,145.63, a decrease of 10.9% compared to CNY 1,175,996,552.87 in the same period of 2021[20] - Total operating costs for the first three quarters of 2022 were CNY 987,259,031.46, down from CNY 1,009,567,935.19 in 2021, reflecting a cost reduction strategy[20] - Research and development expenses for the first three quarters of 2022 were CNY 48,771,193.72, slightly up from CNY 48,522,315.58 in 2021, showing continued investment in innovation[20] - The company reported a financial expense of CNY -7,172,900.77 in 2022, a significant improvement compared to CNY 755,267.40 in 2021, indicating better management of financial costs[20] Shareholder Information - Total number of common shareholders at the end of the reporting period is 13,076[13] - The largest shareholder, Zhang Shihao, holds 38,173,657 shares, accounting for 18.78% of total shares[13]

Financial Performance - The company reported a total revenue of RMB 500 million for the first half of 2022, representing a year-on-year increase of 15%[13]. - The net profit attributable to shareholders reached RMB 80 million, up 10% compared to the same period last year[13]. - The company's total revenue for the first half of the year was CNY 669,709,816.08, a decrease of 9.50% compared to the same period last year[20]. - Net profit attributable to shareholders was CNY 41,022,188.76, down 65.13% year-on-year[20]. - The net profit after deducting non-recurring gains and losses was CNY 25,804,030.51, a decline of 74.36% compared to the previous year[20]. - The company's net cash flow from operating activities was negative at CNY -212,971,774.58, compared to CNY -146,285,640.98 in the same period last year[20]. - The basic earnings per share for the reporting period were CNY 0.2, down 65.52% from CNY 0.58 in the same period last year[21]. - The weighted average return on net assets was 2.67%, a decrease of 5.21 percentage points compared to the previous year[21]. - The company reported a significant decline in real estate development investment, amounting to 683.14 billion yuan, a year-on-year decrease of 5.4%, impacting industry demand[38]. - The company reported a net loss of 81,296,800 for the period, highlighting challenges in profitability[186]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in sales from this region by the end of 2023[13]. - The company is focusing on the construction of a data resource pool and smart enabling platforms to support collaborative innovation in intelligent applications[46]. - The company is set to expand its market presence by actively engaging in major water resource projects and rural water supply initiatives, which are key areas for industry development[47]. - The company plans to enhance its market presence by expanding both domestic and international markets, leveraging its brand and technology advantages[101]. - The company is focusing on strategic investments and potential mergers to strengthen its competitive position in the market[186]. Research and Development - The company has allocated RMB 50 million for research and development in new technologies for water management systems[13]. - New product development includes the launch of a next-generation smart water meter, expected to enhance data accuracy by 30%[13]. - The company invested CNY 33.17 million in R&D during the first half of 2022, representing a 5.07% increase compared to the same period last year[73]. - The company applied for 55 patents and 6 software copyrights during the reporting period, and published 10 scientific papers, indicating a strong focus on innovation and standardization[75]. - The company is committed to continuous innovation, with ongoing research and development efforts aimed at launching new products in the next fiscal year[140]. Operational Challenges - The company has faced delays in project execution and sales activities due to the ongoing pandemic, impacting revenue recognition[39]. - The company is experiencing a shift in its business model, with an increasing proportion of centralized procurement and longer average account periods due to the rising share of smart water meters[57]. - The company is facing challenges in revenue recognition cycles and order progress due to the recurring impact of the pandemic[84]. - The company is addressing supply chain risks by optimizing production processes and diversifying procurement channels to manage raw material costs[103]. Financial Management and Integrity - The company emphasizes the importance of maintaining financial integrity and has confirmed that there are no non-operational fund occupations by controlling shareholders[6]. - There are no significant risks identified that could materially impact the company's operations during the reporting period[6]. - The company has no plans for major acquisitions in the near term, focusing instead on organic growth strategies[6]. - The company has maintained a good integrity status, with no significant debts or court judgments pending[140]. - The company has not engaged in any significant related party transactions during the reporting period, maintaining financial integrity[141]. Environmental and Social Responsibility - The company has not faced any environmental penalties during the reporting period and has adhered to environmental laws and regulations[118]. - The company has implemented measures for waste gas, wastewater, noise, and solid waste treatment, ensuring compliance with environmental protection standards[119][120]. - The company has been recognized as a green low-carbon factory and a water-saving benchmark enterprise in Zhejiang Province, contributing to the "dual carbon" goals[122]. - The company has engaged in social responsibility initiatives, including support for frontline pandemic workers and contributions to rural water safety projects[124]. Shareholder and Management Commitments - The company did not propose any profit distribution or capital reserve transfer for the first half of 2022[113]. - The company appointed Chen Wei as the new Deputy General Manager and Wang Zhebin as the new Chief Financial Officer during the board meeting on April 27, 2022[112]. - The company implemented an employee stock ownership plan, with a total of 1,080,036 shares transferred at a price of 13.83 yuan per share, accounting for 0.53% of the total share capital[116]. - The company has established a clear plan for compliance with share transfer restrictions to ensure shareholder confidence[129]. - The company will ensure that any profits from violations of share transfer commitments will be returned to the company[129].

Financial Performance - The company's operating revenue for Q1 2022 was ¥244,440,880.76, representing a decrease of 13.48% compared to the same period last year[5]. - The net profit attributable to shareholders was ¥5,966,081.81, down 85.87% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥4,316,088.61, a decline of 114.79%[5]. - The basic earnings per share for the period was ¥0.03, reflecting a decrease of 85.71%[6]. - Total operating revenue for Q1 2022 was CNY 244,440,880.76, a decrease of 13.5% compared to CNY 282,532,300.59 in Q1 2021[22]. - Net profit for Q1 2022 was CNY 5,802,254.77, a significant decline of 86.2% from CNY 42,023,166.93 in Q1 2021[24]. - Operating profit for Q1 2022 was CNY 1,722,316.31, down from CNY 36,982,799.90 in Q1 2021[23]. - Basic earnings per share for Q1 2022 were CNY 0.03, compared to CNY 0.21 in Q1 2021[24]. Cash Flow and Assets - The net cash flow from operating activities was -¥197,306,913.05, which is not applicable for comparison[5]. - Cash flow from operating activities in Q1 2022 was a net outflow of CNY 197,306,913.05, compared to a net outflow of CNY 178,715,549.57 in Q1 2021[26]. - Cash inflow from operating activities totaled CNY 295,040,311.44, while cash outflow was CNY 492,347,224.49 in Q1 2022[26]. - The total assets at the end of the reporting period were ¥2,116,054,061.44, down 4.72% from the end of the previous year[6]. - The company's total current assets decreased from 1,813,260,040.57 RMB at the end of 2021 to 1,667,346,722.20 RMB as of March 31, 2022, a decline of approximately 8%[18]. - Cash and cash equivalents decreased from 541,653,970.89 RMB to 413,149,577.87 RMB, a reduction of about 24%[18]. - The total cash inflow from financing activities was $19,590,000.00, an increase from $14,000,000.00 in the prior period[27]. - The net cash flow from financing activities was $7,727,142.90, improving from a negative cash flow of $6,368,608.06 in the previous period[27]. - The cash and cash equivalents at the end of the period totaled $389,132,368.12, down from $526,902,387.88 at the beginning of the period[27]. Liabilities and Equity - The total liabilities as of Q1 2022 were CNY 511,600,942.51, down from CNY 624,651,476.97 in the previous year[23]. - Total current liabilities decreased from 614,705,561.51 RMB to 501,351,820.68 RMB, a reduction of approximately 18.4%[19]. - Total equity attributable to shareholders was CNY 1,604,576,080.07, slightly up from CNY 1,596,294,758.44 in Q1 2021[23]. Operational Challenges - The company faced challenges in business operations due to the recurring pandemic, affecting revenue recognition and order fulfillment[10]. - The company reported a decrease in government subsidies compared to the previous year, impacting overall profitability[11]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 15,302[14]. - The largest shareholder, Zhang Shihua, holds 40,233,657 shares, representing 19.8% of total shares[15]. - The company has signed a concerted action agreement among several major shareholders, indicating potential strategic alignment[15]. Research and Development - Research and development expenses for Q1 2022 were CNY 16,952,733.22, an increase from CNY 13,966,069.70 in Q1 2021[23]. Asset Management - The company has a total of 448,707,339.24 RMB in non-current assets as of March 31, 2022, compared to 407,727,060.74 RMB at the end of 2021, reflecting an increase of about 10%[19]. - The company reported a significant decrease in employee compensation payable from 42,026,516.17 RMB to 10,906,833.19 RMB, a drop of approximately 74%[19]. Accounting Standards - The company did not apply the new accounting standards for the current year[28].

Financial Performance - The company's operating revenue for 2021 was CNY 1,717,290,642.31, representing an 8.00% increase compared to CNY 1,590,152,353.41 in 2020[25]. - The net profit attributable to shareholders for 2021 was CNY 235,370,594.62, a decrease of 13.81% from CNY 273,091,001.84 in 2020[25]. - The net cash flow from operating activities increased by 27.02% to CNY 161,012,833.00 in 2021, compared to CNY 126,758,759.57 in 2020[25]. - The total assets at the end of 2021 were CNY 2,220,987,101.31, up 7.82% from CNY 2,059,923,483.00 at the end of 2020[25]. - The basic earnings per share for 2021 was CNY 1.16, down 13.43% from CNY 1.34 in 2020[26]. - The weighted average return on equity decreased by 4.68 percentage points to 15.48% in 2021 from 20.16% in 2020[26]. - The company reported a net profit of CNY 42,211,074.62 in Q1 2021, with total operating revenue of CNY 282,532,300.59 for the same quarter[28]. - The company received government subsidies amounting to CNY 16,269,979.20 in 2021, compared to CNY 19,070,858.24 in 2020[29]. Dividend and Share Repurchase - The company plans to distribute a cash dividend of 8 RMB per 10 shares, totaling approximately 161.64 million RMB, which represents 68.68% of the net profit attributable to shareholders for 2021[5]. - The total amount spent on share repurchases during the reporting period was approximately 26.60 million RMB, leading to a combined total of 188.25 million RMB for dividends and repurchases, accounting for 79.98% of the net profit attributable to shareholders[5]. - The company plans to distribute a cash dividend of 4 RMB per 10 shares, totaling approximately 81.3 million RMB for the year 2020[191]. - The cash dividend distribution policy states that at least 20% of the annual distributable profit must be distributed in cash if there are no major capital expenditure plans[188]. - The company has established a profit distribution policy that emphasizes reasonable returns to public shareholders and aims for consistency and stability in cash dividends[187]. Risks and Compliance - The company has not identified any significant risks that could materially affect its operations during the reporting period[7]. - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[7]. - The company has not faced any violations of decision-making procedures in providing guarantees to external parties[7]. - The company emphasizes the importance of investment risk awareness regarding forward-looking statements in the report[6]. - The company is committed to enhancing corporate governance, ensuring compliance with relevant laws and regulations, and protecting shareholder rights[158]. Audit and Internal Control - The company has received a standard unqualified audit report from the accounting firm, ensuring the accuracy and completeness of the financial report[4]. - Internal control evaluations have been conducted, confirming the effectiveness of the company's internal control systems without significant deficiencies[160]. - The internal control audit report issued by Lixin Accounting Firm provided a standard unqualified opinion, indicating effective internal control measures[199]. Research and Development - The company invested 62.68 million yuan in R&D, a year-on-year increase of 10.19%, and applied for 94 patents during the reporting period[39]. - Research and development expenses increased by 25% in 2021, totaling 150 million, reflecting the company's commitment to innovation[165]. - The company has established a comprehensive R&D and production management system, enhancing automation and efficiency in production[89]. Market and Industry Trends - The overall industry development in 2021 faced significant challenges, with a decline in revenue growth rates for the instrument manufacturing sector, showing a quarterly decreasing trend[46]. - The implementation of new pricing management measures for urban water supply in October 2021 is expected to take time to yield substantial benefits[49]. - The company anticipates a domestic demand for water meters to reach 1.3 billion units by 2023, with projected sales revenue of 151 million RMB[132]. - The smart water service market is projected to grow, addressing challenges such as water resource shortages and the need for enhanced supply system monitoring[133]. Strategic Initiatives - The company has formed strategic partnerships with leading technology firms to develop cutting-edge smart water technologies, laying a solid foundation for future growth in the smart water sector[88]. - The company is committed to high-quality development, emphasizing product quality and operational efficiency to foster sustainable growth[141]. - The company plans to enhance its market share by implementing differentiated marketing strategies and expanding into new markets, including residential water meter markets[143]. Employee and Management - The company has implemented a performance-based salary system for management and technical staff, with salaries based on local industry standards and performance evaluations[182]. - The total number of employees in the parent company is 994, while the total number of employees in major subsidiaries is 228, resulting in a combined total of 1,222 employees[181]. - The company has established a transparent performance evaluation and incentive mechanism for senior management to enhance governance[159].