Financial Performance - Operating revenue for the first quarter was CNY 173,941,862.35, down 7.55% year-on-year[7] - Net profit attributable to shareholders was CNY 28,311,568.25, a slight increase of 0.24% compared to the same period last year[7] - Basic earnings per share decreased by 28.57% to CNY 0.15[7] - Total revenue for Q1 2020 was CNY 173,941,862.35, a decrease of 7.3% compared to CNY 188,145,706.87 in Q1 2019[31] - Net profit for Q1 2020 was CNY 28,075,584.55, slightly up from CNY 27,965,212.41 in Q1 2019, representing a growth of 0.4%[32] - Basic earnings per share for Q1 2020 was CNY 0.15, compared to CNY 0.21 in Q1 2019, reflecting a decrease of 28.6%[32] - Total comprehensive income for Q1 2020 was CNY 28,413,389.16, slightly up from CNY 27,021,668.15 in Q1 2019[36] Cash Flow - The net cash flow from operating activities decreased by 54.01% to CNY 15,839,761.07 compared to the previous year[7] - Cash flow from operating activities generated CNY 15,839,761.07, a decline of 54.0% compared to CNY 34,438,432.47 in Q1 2019[38] - The net cash flow from operating activities for Q1 2020 was ¥37,158,095.09, a significant improvement compared to a net outflow of ¥17,282,786.64 in Q1 2019, representing a turnaround of over 215%[41] - Total cash inflow from operating activities increased to ¥222,201,026.10 in Q1 2020, up by approximately 15.7% from ¥192,043,057.08 in Q1 2019[41] - Cash outflow from operating activities decreased to ¥185,042,931.01 in Q1 2020, down by about 11.6% from ¥209,325,843.72 in Q1 2019[41] - The net cash flow from investing activities was negative at -¥29,091,929.36 in Q1 2020, compared to a positive cash flow of ¥54,264,698.03 in Q1 2019, indicating a shift in investment strategy[41] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,880,958,247.82, a decrease of 2.09% compared to the end of the previous year[7] - Total liabilities decreased to ¥1,145,075,124.88 from ¥1,256,052,624.52[25] - The company's total equity increased to ¥2,735,883,122.94 from ¥2,707,777,659.82[25] - Total assets as of March 31, 2020, were CNY 3,822,627,080.92, a slight decrease from CNY 3,862,221,334.27 at the end of 2019[30] - Total liabilities decreased to CNY 1,120,941,407.46 from CNY 1,189,161,314.11 at the end of 2019, a reduction of 5.7%[30] - Current assets totaled CNY 3,193,408,110.64, down from CNY 3,248,592,505.87 at the end of 2019, a decrease of 1.7%[29] - Non-current assets increased to CNY 629,218,970.28 from CNY 613,628,828.40 at the end of 2019, an increase of 2.5%[29] Expenses - Sales expenses decreased by 52.21% to ¥1,553,273.55, primarily due to reduced after-sales maintenance costs[16] - Management expenses decreased by 33.46% to ¥5,905,727.72, mainly attributed to a reduction in travel expenses[16] - Research and development expenses decreased to CNY 7,729,816.15, down 31.5% from CNY 11,313,662.32 in Q1 2019[35] - The company reported a decrease in sales expenses to CNY 831,132.32, down 33.0% from CNY 1,240,924.48 in Q1 2019[35] Investments - Long-term equity investments increased by 181.73% to CNY 24,588,670.95, primarily due to investments in chip companies[13] - Investment income surged by 138.98% to ¥1,718,779.74, mainly from interest income on purchased financial products[16] - Investment cash flow net amount improved by 86.48% to -¥54,625,022.00, mainly due to a reduction in idle fund investments[18] Government Support - The company received government subsidies amounting to CNY 1,249,778.75 during the reporting period[9] Accounting Standards - The company implemented new revenue and leasing standards starting January 1, 2020, which may impact future financial reporting and performance metrics[43] - The company has not made any adjustments to comparable period information under the new revenue standards[51]

Financial Performance - The company's operating revenue for 2019 was approximately RMB 935.55 million, an increase of 6.56% compared to RMB 877.98 million in 2018[23]. - Net profit attributable to shareholders for 2019 reached approximately RMB 500.56 million, representing a significant increase of 306.13% from RMB 123.25 million in 2018[24]. - The basic earnings per share for 2019 was RMB 2.69, up 307.58% from RMB 0.66 in 2018[22]. - The net cash flow from operating activities increased by 31.98% to approximately RMB 392.14 million in 2019, compared to RMB 297.13 million in 2018[24]. - The company's total assets grew by 54.40% to approximately RMB 3.96 billion at the end of 2019, up from RMB 2.57 billion at the end of 2018[23]. - The weighted average return on equity for 2019 was 20.26%, an increase of 12.93 percentage points from 7.33% in 2018[22]. - The company’s net assets attributable to shareholders increased by 62.26% to approximately RMB 2.70 billion at the end of 2019, compared to RMB 1.67 billion at the end of 2018[23]. - In 2019, the company achieved a revenue of 936 million yuan, with net profit attributable to shareholders reaching 501 million yuan, a year-on-year increase of 306.13%[47]. - The operating service revenue from public bicycles was 687 million yuan, while the revenue from the Yonganxing travel platform surged from 10 million yuan in 2018 to 108 million yuan in 2019[45]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of RMB 1.80 per 10 shares, totaling RMB 33,503,400, based on 186,130,000 shares after deducting repurchased shares[5]. - A cash dividend of RMB 1.80 per 10 shares is proposed for 2019, totaling RMB 33,503,400, subject to shareholder approval[100]. - The cash dividend for 2019 represents 6.84% of the net profit attributable to ordinary shareholders[104]. - The company has implemented a cash dividend policy, distributing RMB 2.70 per 10 shares in 2018, totaling RMB 35,896,500[99]. Business Operations and Strategy - The company operates in the shared mobility industry, which includes various transportation services such as public transport and shared bicycles[11]. - The company operates a shared mobility platform leveraging IoT and big data analytics, offering services through the Yong'anxing APP[31]. - The shared mobility system includes public bicycle systems, shared electric vehicles, and ride-hailing services, with ongoing operational support provided under PPP contracts[33]. - The company plans to expand its new business to over 50 cities in 2020 and aims to cover 100 cities within three years, enhancing its market presence[42]. - The company has obtained operating licenses for ride-hailing services in several cities, with plans to rapidly enter the ride-hailing market upon successful pilot testing[42]. - The company’s new business segments, including shared electric bicycles and smart living services, generated a combined revenue of 149 million yuan in 2019, indicating strong growth potential[46]. - The company is focusing on developing smart living services, including home safety and elderly care, leveraging its IoT and big data capabilities[85]. - The company intends to maintain stable growth in its core public bicycle operations while exploring new business models for additional revenue streams[89]. Financial Management and Investments - The company’s cash flow management model monitors cash flow for the next 24 months, with a cash flow warning line set at 15 months, ensuring stable financial health[48]. - The company has a strategic credit line of approximately 1 billion yuan from partner banks, ensuring sufficient cash flow for rapid business development[48]. - The company invested in new technologies, focusing on lithium battery-powered bicycles, hydrogen energy vehicles, and smart home products[49]. - The company has invested a total of RMB 408 million in various bank financial products, with a significant portion being RMB 360 million from its own funds[138]. - The company has a total of RMB 48 million in bank financial products sourced from raised funds, all of which are still outstanding[138]. - The company has received a total of RMB 2.00% to 4.60% annualized returns on its financial investments, with actual returns reported for several products[141]. Risk Management - The company emphasizes the importance of risk awareness in its forward-looking statements, advising investors to consider potential investment risks[6]. - The company faces risks related to policy support for the bicycle transportation sector, which could impact market size and profitability[93]. - The company is monitoring raw material price fluctuations and has strategies in place to mitigate risks associated with supply chain disruptions[94]. Corporate Governance and Compliance - The company received a standard unqualified audit report from the accounting firm, ensuring the financial report's authenticity and completeness[4]. - The company is committed to maintaining transparency and accuracy in its financial disclosures, as stated by its board and management[8]. - The company has established specific measures for stabilizing stock prices, including share repurchases and shareholder commitments to not sell shares during the stabilization period[108]. - The company is committed to adhering to legal and regulatory requirements in its stock price stabilization efforts[109]. - The company reported a significant impact from potential false statements in the prospectus, which could lead to refunds to investors based on the subscription amount plus interest[110]. Research and Development - Research and development expenses amounted to 43.7 million RMB, representing 4.67% of operating revenue[67]. - The company has completed the development of a new generation of IoT storage chips, set to launch by the end of 2020, featuring high speed and low power consumption[87]. - Increased investment in chip research and development, establishing a domestic chip R&D team to accelerate the development of autonomous driving technology[91]. - The company has a commitment to innovation, as evidenced by its numerous patents and ongoing research initiatives[169]. Employee and Management Information - The total number of employees in the parent company is 3,801, while the total number of employees in major subsidiaries is 1,822, resulting in a combined total of 5,623 employees[175]. - The company has 455 R&D personnel, which represents approximately 8.1% of the total workforce[175]. - The total remuneration for all directors, supervisors, and senior management was ¥2,529,900[172]. - The management team includes individuals with extensive experience in finance and technology sectors, enhancing the company's strategic capabilities[168]. Shareholder Structure - The largest shareholder, Sun Jisheng, holds 66,151,743 shares, representing 35.27% of the total shares, with 65,536,143 shares pledged[156]. - The top ten shareholders collectively hold a significant portion of the company's shares, with the top three alone accounting for over 48%[156]. - The actual controller of the company is Sun Jisheng, who is also the chairman and general manager[161].

Financial Performance - Net profit attributable to shareholders was ¥108,554,418.24, representing a 16.7% increase from ¥93,050,327.49 in the same period last year[7]. - Operating income for the first nine months was ¥651,185,378.43, up from ¥637,635,898.71, indicating a growth of 2.9% year-on-year[7]. - The company reported a net profit of CNY 1,536,218,309.61, up from CNY 772,392,034.67, representing an increase of around 99%[25]. - The company’s net profit for the first three quarters of 2019 was ¥107,516,387.01, compared to ¥92,632,057.90 in the same period of 2018, reflecting a 15.9% increase[28]. - The company reported a total profit of ¥53,311,608.95 for Q3 2019, compared to ¥34,541,928.57 in Q3 2018, marking a 54.5% increase[28]. - The total comprehensive income for Q3 2019 was ¥42,191,918.51, up from ¥26,246,835.88 in Q3 2018, indicating a growth of 60.8%[29]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥3,643,562,247.57, an increase of 42% compared to the previous year-end[7]. - The company’s total assets increased to CNY 3,643,562,247.57, up from CNY 2,567,303,220.94 year-over-year, representing a growth of approximately 42%[21]. - Total liabilities rose to CNY 1,215,464,971.29, compared to CNY 896,086,869.39, marking an increase of around 36%[22]. - Owner's equity increased significantly to CNY 2,428,097,276.28 from CNY 1,671,216,351.55, showing a growth of about 45%[22]. - Non-current assets totaled CNY 794,448,244.91, a decrease from CNY 1,106,767,335.35, indicating a decline of about 28%[21]. - The total current liabilities stood at CNY 756,412,839.93, with no changes reported in other current liabilities[46]. Cash Flow - The net cash flow from operating activities for the first nine months was ¥290,357,896.46, compared to ¥148,580,312.65 in the previous year, showing a significant increase[7]. - Cash and cash equivalents decreased to ¥411.17 million from ¥686.37 million, primarily due to business expansion, stock repurchase, dividend distribution, and repayment of bank loans[12]. - The company reported cash outflows from investment activities amounting to ¥861,328,847.98 in the first three quarters of 2019, significantly higher than ¥240,163,797.04 in the same period of 2018[38]. - The net cash flow from investment activities was -¥527,670,708.45 for the first three quarters of 2019, compared to -¥159,355,545.67 in 2018, indicating a worsening investment cash flow situation[38]. - Cash inflow from investment activities for the first three quarters of 2019 was CNY 333.72 million, compared to CNY 81.04 million in the same period of 2018[35]. Shareholder Information - The total number of shareholders at the end of the reporting period was 14,504[9]. - Major shareholder Sun Jisheng holds 34.94% of the shares, with 65,536,143 shares pledged[9]. Research and Development - The company has not disclosed any new product or technology developments in this report[11]. - Research and development expenses for Q3 2019 were ¥11,719,999.80, slightly down from ¥12,160,596.70 in Q3 2018[27]. - Research and development expenses decreased to CNY 11.63 million in Q3 2019, down 37.2% from CNY 18.51 million in Q3 2018[32]. Financial Standards and Adjustments - The company executed a new financial instrument standard starting January 1, 2019, which resulted in adjustments to retained earnings and deferred tax liabilities[43]. - The company reported a total of CNY 1,001,053,504.51 in non-current assets, with a decrease of CNY 499,663,585.72 due to adjustments related to the new financial instrument standard[46].

Financial Performance - The company's operating revenue for the first half of 2019 was approximately ¥427.6 million, a decrease of 3.1% compared to ¥441.1 million in the same period last year[22]. - The net profit attributable to shareholders for the first half of 2019 was approximately ¥66.1 million, slightly down from ¥66.7 million in the previous year[22]. - The net cash flow from operating activities increased significantly to approximately ¥194.3 million, up from ¥85.1 million in the same period last year, indicating improved cash collection and payment adjustments[22]. - The company's total assets increased to approximately ¥3.59 billion, up from ¥2.57 billion year-on-year, primarily due to the implementation of new financial instrument standards[22]. - The weighted average return on equity decreased to 2.76% from 3.96% in the previous year, reflecting a decline of 1.09 percentage points[22]. - The company reported non-recurring gains of approximately ¥3.67 million, including government subsidies and other income[24]. - The company achieved operating revenue of 428 million yuan and a net profit attributable to shareholders of 66.12 million yuan, with a projected full-year revenue target of 950 million yuan and net profit of 136 million yuan[36][45]. - The company's shared mobility platform revenue in the first half of 2019 exceeded 300% of the total revenue for the entire year of 2018, with expectations for continued acceleration in the second half of 2019[36][46]. Business Operations and Expansion - The company operates in the shared mobility industry, which includes public transport, shared bicycles, and ride-hailing services[10]. - The company is focused on expanding its public bicycle system and enhancing its technology through smart parking solutions[11]. - The number of shared cars deployed by the company reached approximately 3,500 units by June 30, 2019, with plans to exceed 8,000 units by the end of 2019 and 20,000 units by 2020[32]. - The company has obtained a ride-hailing license in Changzhou, with operational permits in other cities being processed, indicating expansion in the ride-hailing market[32]. - The company has successfully launched shared e-bikes in over 20 cities, with plans to expand to approximately 30 cities by the end of 2019[36][46]. - The company aims to expand its new business services, including shared e-bikes and shared cars, to over 50 cities by 2020, leveraging existing public bicycle operations[42][46]. - The company has established a joint venture in India and registered a shared mobility company in the UK, indicating international market expansion[47]. Research and Development - The company is focusing on the development of IoT and big data technologies to enhance its shared mobility systems, positioning itself for future growth in the industry[26]. - Research and development expenses increased to ¥22,187,054.40, up from ¥14,846,964.23 in the previous period, reflecting a focus on enhancing competitive capabilities[51]. - Research and development expenses for the first half of 2019 were CNY 22,187,054.40, up from CNY 14,846,964.23 in the same period last year, reflecting a growth of 49.0%[130]. Financial Management and Risks - The company emphasizes the importance of investment risk and has outlined potential risks in the report[5][6]. - The company faces risks related to government support for bicycle transportation, which could impact market size and profitability if support decreases[66]. - The company reported a potential risk of increased costs due to rising prices affecting system operation services, which could impact gross margins[68]. - The company is exposed to cash flow management risks due to significant upfront capital investments in shared mobility projects[69]. - The company faces potential cash flow pressure, which could negatively impact expansion plans and overall profitability if funding is not secured under appropriate conditions[70]. Shareholder and Stock Management - The company reported no profit distribution plan or capital reserve transfer plan for the first half of 2019[4]. - The company will not distribute dividends or issue bonus shares for the half-year period[74]. - The company has committed to not transferring or entrusting shares held by major shareholders for a period of 36 months from the date of the initial public offering[76]. - The company plans to implement stock repurchase measures to stabilize share prices, with a budget not exceeding 30% of the audited net profit attributable to shareholders for the previous accounting year[78]. - Major shareholders are required to take measures to stabilize share prices within 5 trading days after the shareholder meeting approves the specific plan[78]. - The company has established specific measures to ensure the stability of its stock price, including potential share buybacks and management salary restrictions[78]. - The company will implement stock repurchase measures if the stock price stabilization conditions are triggered, with the total amount for repurchase not exceeding 30% of the after-tax salary and cash dividends received in the previous year[79]. Legal and Compliance - The financial report has not been audited, ensuring transparency in the reporting process[7]. - The company has confirmed that all resolutions passed at the shareholder meetings were in compliance with relevant laws and regulations[73]. - The company will refund investors' subscription payments with interest if there are significant violations in the IPO prospectus that affect the issuance conditions[80]. - The company commits to compensating investors for losses incurred due to misleading statements in the IPO prospectus, following the recognition of such violations by regulatory authorities[80]. Assets and Liabilities - The company's total assets increased to approximately ¥3.59 billion, up from ¥2.57 billion year-on-year, primarily due to the implementation of new financial instrument standards[22]. - The total liabilities increased to CNY 1,156,494,504.46 from CNY 796,154,264.82, representing a growth of 45.3%[128]. - The company's equity attributable to shareholders grew to RMB 2,381,736,778.21 from RMB 1,666,193,828.77, reflecting an increase of approximately 43%[125]. - The company's cash and cash equivalents decreased to RMB 445,904,915.66 from RMB 686,370,298.13, representing a decline of approximately 35%[122]. Corporate Governance - The controlling shareholder and actual controller of the company have maintained a good integrity status during the reporting period[93]. - The company has established methods for determining expected credit losses for receivables, ensuring accurate financial reporting[190]. - The company has a policy for recognizing impairment losses on intangible assets if they are deemed to no longer provide future economic benefits[200].

Financial Performance - Operating income for the first quarter was CNY 188,145,706.87, a slight increase of 0.14% year-on-year[6] - Net profit attributable to shareholders was CNY 28,242,753.75, up by 0.99% compared to the same period last year[6] - Basic earnings per share increased by 5.00% to CNY 0.21[6] - Total operating revenue for Q1 2019 was CNY 188,145,706.87, a slight increase of 0.14% compared to CNY 187,886,884.00 in Q1 2018[30] - Net profit for Q1 2019 was CNY 27,965,212.41, showing a marginal increase from CNY 27,891,313.44 in Q1 2018[31] - Total profit for Q1 2019 was CNY 31,967,873.95, a decrease of 12.0% compared to CNY 36,619,605.76 in Q1 2018[30] - Operating profit decreased to CNY 31,788,645.70, down 13.5% from CNY 36,500,015.84 in Q1 2018[30] Assets and Liabilities - Total assets increased by 36.68% to CNY 3,508,588,670.50 compared to the end of the previous year[6] - Total current assets increased to ¥2,815,620,365.11 from ¥1,460,518,812.19, indicating significant growth in liquidity[23] - Non-current assets decreased to ¥692,968,305.39 from ¥1,106,413,340.45, a decline of about 37.4%[25] - Total liabilities increased to ¥1,112,237,542.88 from ¥896,046,296.86, reflecting an increase of about 24.1%[25] - Current liabilities decreased to ¥640,073,260.97 from ¥756,372,267.40, a reduction of approximately 15.4%[25] - Total assets decreased to $2,434,737,455.48 from $3,365,830,714.49, a decline of approximately 28%[49] - Total liabilities decreased to $796,154,264.82 from $1,028,927,579.57, a reduction of about 22%[49] Shareholders' Equity - Net assets attributable to shareholders increased by 43.57% to CNY 2,391,606,146.18 compared to the end of the previous year[6] - Shareholders' equity rose to ¥2,396,351,127.62 from ¥1,670,885,855.78, indicating a growth of approximately 43.4%[25] - Shareholders' equity grew from CNY 1,670,885,855.78 to CNY 2,369,205,800.04, an increase of 41.7%[45] - Shareholders' equity decreased to $1,638,583,190.66 from $2,336,903,134.92, representing a decline of approximately 30%[50] Cash Flow - Net cash flow from operating activities decreased by 36.79% to CNY 34,438,432.47 compared to the previous year[6] - The company reported a decrease in management expenses to CNY 8,875,919.49, down 29.5% from CNY 12,530,797.30 in Q1 2018[30] - The company experienced a tax expense of CNY 4,002,661.54, significantly lower than CNY 8,728,292.32 in Q1 2018[30] - The net cash flow from operating activities was CNY 34,438,432.47, down 36.8% compared to CNY 54,483,981.31 in the same period last year[37] - The company reported a significant increase in cash inflow from investment activities, totaling CNY 164,758,027.41, compared to CNY 43,221,235.61 in Q1 2018, marking an increase of 281.5%[38] - The net cash flow from investment activities for the parent company was negative CNY 363,735,301.97, compared to a net outflow of CNY 37,609,639.80 in the previous year[40] Investments and Expenses - R&D expenses rose by 136.84% to ¥11,384,094.27, reflecting increased investment in new product development[17] - Financial expenses skyrocketed by 3,548.42% to ¥2,523,235.15, mainly due to increased bank loan interest costs[17] - Investment income increased by 225.09% to ¥719,204.04, resulting from higher amounts invested in bank wealth management products[17] - Total operating costs increased to CNY 160,283,572.93, up 3.8% from CNY 155,299,141.28 in the same period last year[30] - Research and development expenses rose significantly to CNY 11,384,094.27, an increase of 137.5% compared to CNY 4,806,688.89 in Q1 2018[30] Shareholder Information - The total number of shareholders at the end of the reporting period was 12,475[10] - The largest shareholder, Sun Jisheng, holds 34.83% of the shares, with 46,811,531 shares pledged[10]

Financial Performance - In 2018, the company's operating revenue was approximately CNY 844.99 million, a decrease of 19.87% compared to CNY 1,054.53 million in 2017[24]. - The net profit attributable to shareholders was CNY 119.35 million, reflecting a significant decline of 76.89% from CNY 516.45 million in the previous year[24]. - The basic earnings per share (EPS) for 2018 was CNY 0.89, down 76.82% from CNY 3.84 in 2017[24]. - The weighted average return on equity (ROE) decreased to 7.19%, down 44.81 percentage points from 52.00% in 2017[24]. - The net cash flow from operating activities was CNY 296.88 million, a decrease of 13.10% compared to CNY 341.63 million in 2017[24]. - The total assets at the end of 2018 were approximately CNY 2.55 billion, an increase of 1.44% from CNY 2.51 billion at the end of 2017[24]. - The net assets attributable to shareholders increased by 1.33% to CNY 1.66 billion at the end of 2018, compared to CNY 1.64 billion at the end of 2017[24]. - The company reported a net profit excluding non-recurring gains and losses of CNY 111.49 million, down 8.70% from CNY 122.10 million in 2017[24]. - The company reported a total revenue of 844,992,888.45 yuan in 2018, a decrease of 19.87% year-on-year[59]. - The net profit attributable to shareholders was 11,935.22 million yuan, down 76.89% year-on-year[59]. Dividend and Share Capital - The company plans to distribute a cash dividend of RMB 2.70 per 10 shares, totaling RMB 35,896,500, and to increase its share capital by 53,180,000 shares through capital reserve conversion, raising total shares to 187,580,000[5]. - The cash dividend distribution for 2018 represents 30.08% of the net profit attributable to ordinary shareholders in the consolidated financial statements[109]. - The total cash dividend amount for 2018, including share buybacks, is RMB 30,631,610.96, which accounts for 55.75% of the net profit attributable to ordinary shareholders[110]. - The company plans to repurchase shares at a price not exceeding 30% of the previous year's audited net profit attributable to shareholders[114]. - The controlling shareholder will increase their stake in the company within 5 trading days after the shareholder meeting approves the specific plan to stabilize the stock price[115]. Business Operations and Strategy - The company is involved in the shared mobility industry, which includes various transportation services such as public transport and bike-sharing[13]. - The company is focused on expanding its public bicycle system and enhancing its smart parking solutions[24]. - The company continues to explore new technologies and products to improve operational efficiency and user experience[24]. - The company’s main business involves the development, sales, and operation of shared mobility systems based on IoT and big data analysis technologies[32]. - The shared mobility platform generates revenue by providing shared transportation tools at fixed points and charging consumers through the Yong'an APP[33]. - The company is focusing on expanding its shared mobility platform while controlling low-margin, high-risk bicycle manufacturing operations[54]. - The company has successfully completed the technical integration of traditional public bicycles with new-generation services, enhancing user convenience and increasing revenue growth[44]. Market Trends and Challenges - The market for shared mobility is expected to grow significantly, driven by the increasing demand for shared bicycles, electric vehicles, and other transportation options[37]. - The shared bicycle market is experiencing a decline due to stricter government regulations and the natural attrition of unmanaged bikes, leading to a consolidation in the industry[38]. - Shared cars are becoming increasingly popular among young consumers, indicating a potential growth trend in this segment despite the challenges faced by some companies in the market[39]. - The company faces risks related to government support for public transportation, which could impact market capacity and profitability[96]. - The company anticipates potential fluctuations in gross profit margin due to the maturity of the public bicycle market and the impact of large project negotiations[100]. Research and Development - In 2018, the company's R&D investment accounted for 5.27% of sales revenue, with a new R&D center established in Chengdu[55]. - The company plans to invest at least 5% of sales revenue in R&D, with a goal of filing no less than 50 invention patents[94]. - The company has a total of 438 R&D personnel, indicating a strong focus on research and development[184]. Financial Management and Investments - The company has invested a total of CNY 75 million in bank wealth management products using raised funds, with no overdue amounts[141]. - The company has also invested CNY 160 million in bank wealth management products using its own funds, with no overdue amounts[141]. - The annualized return on the bank wealth management products was 4.85%, with a total income of CNY 2,720,650.68 already recovered[144]. - The company has a total of CNY 10 million in wealth management products from China Bank, with an annualized return of 3.20% and total income of CNY 31,561.64 already recovered[144]. Corporate Governance - The company’s governance structure complies with relevant laws and regulations, ensuring the protection of shareholder interests[191]. - The company held multiple shareholder meetings in 2018, all of which were conducted in accordance with legal requirements[192]. - The board of directors held a total of 7 meetings during the year, all conducted via communication methods[194]. - Independent directors did not raise any objections regarding company matters during the reporting period[195]. Legal and Compliance - The company has appointed Deloitte Touche Tohmatsu CPA Ltd. as its auditor for the 2018 financial year, with an audit fee of CNY 1,272,000[128]. - The company is currently involved in a significant lawsuit regarding patent infringement, with the case concluded by the Jiangsu Provincial High People's Court[130]. - The company has no major litigation or arbitration matters pending or disclosed in temporary announcements[131]. - The company maintained compliance with environmental regulations, ensuring no penalties were incurred during the reporting period[148]. Employee and Management Structure - The total number of employees in the parent company was 3,770, while the total number of employees in the parent company and major subsidiaries was 5,405[184]. - The company has a diverse management team with significant experience in various sectors, including technology and finance, enhancing its strategic decision-making capabilities[175]. - The total pre-tax remuneration for the reporting period amounted to 180.12 million yuan, with the highest individual remuneration being 44.07 million yuan for the Vice General Manager[173].

Financial Performance - Operating revenue for the first nine months was CNY 612,853,814.49, a decline of 18.41% year-on-year[7] - Net profit attributable to shareholders increased by 13.75% to CNY 90,169,046.22 for the first nine months[7] - The company reported a net profit of CNY 84,261,995.92 after deducting non-recurring gains and losses, a 10.60% increase year-on-year[8] - Total operating revenue for Q3 2018 was CNY 189,511,906.71, a decrease of 31.5% compared to CNY 276,655,025.34 in the same period last year[35] - Net profit for Q3 2018 reached CNY 25,349,149.26, an increase of 45.2% compared to CNY 17,440,775.47 in Q3 2017[36] - The net profit attributable to the parent company for Q3 2018 was CNY 25,627,443.96, an increase from CNY 17,917,136.88 in Q3 2017, representing a growth of approximately 43.5%[37] - The total comprehensive income attributable to the parent company for Q3 2018 was CNY 25,821,418.99, compared to CNY 17,911,321.06 in the same period last year, marking an increase of about 44.0%[38] Cash Flow - Net cash flow from operating activities rose by 76.51% to CNY 153,651,504.04 compared to the same period last year[7] - Cash inflow from operating activities for the year-to-date period (January to September) was CNY 693,827,931.50, a decrease of 41.7% compared to CNY 1,188,466,538.06 in the same period last year[43] - Cash received from sales of goods and services was CNY 425,342,379.44, down from CNY 507,408,113.24 in the same period last year, indicating a decline in revenue generation[46] - Cash received from other operating activities increased significantly to CNY 306,416,233.47 from CNY 33,184,762.31, reflecting improved operational efficiency[46] - Total cash outflow from operating activities was CNY 599,265,596.21, slightly lower than CNY 647,110,447.51 in the previous year, indicating better cost management[46] Assets and Liabilities - Total assets decreased by 7.10% to CNY 2,336,168,016.27 compared to the end of the previous year[7] - Total current assets decreased from ¥1,426,271,292.29 to ¥1,305,973,837.91, a decline of approximately 8.45%[27] - Total liabilities decreased from ¥873,054,311.17 to ¥671,868,294.24, a reduction of about 23.05%[29] - The company's total equity increased from ¥1,641,592,741.57 to ¥1,664,299,722.03, an increase of about 1.38%[29] Shareholder Information - The number of shareholders reached 15,542 by the end of the reporting period[12] - The largest shareholder, Sun Jisheng, holds 34.83% of the shares, with 5,253,679 shares pledged[12] Investments and Expenses - Research and development expenses increased by 52.02% to ¥27,007,560.93, driven by the expansion of technology development projects[19] - The company reported a significant increase in long-term equity investments, rising to CNY 44,358,760.72 from CNY 14,767,818.74, an increase of 200.5%[32] - Cash paid for investments surged by 46,195.47% to ¥92,590,941.98, primarily due to increased external investments and financial product investments[20] - Cash paid for dividends and interest repayment increased by 999.47% to ¥69,610,768.80, significantly higher than the same period last year[20] Operational Efficiency - Cash and cash equivalents decreased by 36.81% to ¥300,202,287.22 due to increased payments for bank financial products and goods[15] - Accounts receivable increased by 100% to ¥2,100,000.00 as a result of receiving bank acceptance bills[15] - Prepayments surged by 229.74% to ¥27,737,852.92 due to an increase in advance payments for goods[15] - Total operating costs for Q3 2018 were CNY 162,704,360.54, down from CNY 257,401,426.27 in Q3 2017, reflecting a reduction of 36.8%[36] - The company reported a decrease in operating costs for Q3 2018, which were CNY 104,989,240.62, down from CNY 144,197,412.04 in Q3 2017, a reduction of about 27.0%[40]

Financial Performance - The company's operating revenue for the first half of 2018 was ¥423.34 million, a decrease of 10.77% compared to ¥474.46 million in the same period last year[22]. - Net profit attributable to shareholders was ¥64.54 million, representing a 5.19% increase from ¥61.36 million year-on-year[22]. - The net cash flow from operating activities decreased by 33.83% to ¥90.05 million, primarily due to reduced sales collections and increased prepaid taxes[22]. - The company's total assets at the end of the reporting period were ¥2.32 billion, down 7.76% from ¥2.51 billion at the end of the previous year[22]. - The basic earnings per share for the first half of 2018 was ¥0.48, up 4.35% from ¥0.46 in the same period last year[23]. - The weighted average return on equity decreased by 6.87 percentage points to 3.88% compared to 10.75% in the previous year[23]. - The total operating revenue for the first half of 2018 was CNY 423,341,907.78, a decrease of 10.77% from CNY 474,458,941.79 in the same period last year[129]. - Total operating costs decreased to CNY 349,351,983.99, down 11.31% from CNY 394,038,914.03 year-on-year[129]. - Net profit for the first half of 2018 was CNY 64,401,627.37, representing an increase of 4.56% compared to CNY 61,611,484.93 in the previous year[129]. - The company reported other income of CNY 7,461,568.88, contributing positively to the overall financial performance[129]. - Investment income for the period was CNY 2,547,875.36, indicating a stable return from investments[129]. - The total comprehensive income for the first half of 2018 was CNY 64,363,856.17, compared to CNY 61,619,727.41 in the previous year, showing an increase of 4.00%[130]. Company Operations - The company operates in the shared mobility industry, which includes public transportation, public bicycles, shared bicycles, and car-sharing services[11]. - The company has a focus on the development and management of public bicycle systems and related services[12]. - The company aims to integrate various shared mobility services, including bicycles and ride-hailing, to address urban transportation needs effectively[38]. - As of June 30, 2018, the company had registered 42.5 million members and operated approximately 1.16 million sets of public bicycle system equipment across about 260 cities[48]. - The company has completed the integration of traditional public bicycle services with new generation public bicycles, shared e-bikes, and shared cars, enhancing user experience through a unified app platform[49]. - The new generation public bicycle system is expected to be launched in around 20 additional cities by the end of 2018, addressing urban transportation challenges[50]. - The company has developed a shared mobility system based on IoT and big data analysis, including products like public bicycles and shared cars[29]. - The market for public bicycles is expanding, with over 480 cities in China already implementing such systems, indicating a growing demand for shared mobility solutions[36]. Risks and Challenges - The company faces risks related to the impact of shared bicycles on future business, particularly if it fails to innovate in technology and cost control[70]. - The sustainability of government support for the bicycle industry poses a risk, as changes in government attitudes could affect market size and profitability[71]. - The company has launched new shared mobility systems, including shared bicycles and cars, but faces operational risks if these do not generate revenue within 1-2 years, leading to increased costs from R&D expenditures[72]. - Rising material and labor costs due to inflation may significantly impact the gross margin of the company's service projects, which are contracted over a 5-year period[74]. - The company anticipates potential fluctuations in gross margins as the public bicycle market matures and project scales expand, influenced by negotiation outcomes and uncontrollable operational factors[75]. - Cash flow management poses a risk due to substantial upfront working capital investments in shared mobility operations, which may pressure the company's financial stability if not managed properly[76]. Shareholder Information - The company reported no profit distribution plan or capital reserve transfer plan for the first half of 2018[5]. - The company distributed a cash dividend of RMB 67,200,000, which is RMB 7 per 10 shares[103]. - The largest shareholder, Sun Jisheng, holds 46,811,531 shares, representing 34.83% of the total shares[108]. - The company has 17,641 common stock shareholders as of the end of the reporting period[106]. - The top three shareholders hold a combined total of 67,723,851 shares, accounting for 50.43% of total shares[108]. - Shareholder returns are prioritized, with a commitment to maintaining a dividend payout ratio of at least 40% of net income[87]. Financial Position - The total assets at the end of the period reached CNY 1,638,756,597.74, reflecting a significant increase from CNY 1,614,843,416.30 at the end of the previous period[145]. - The total liabilities at the end of the period were CNY 752,165,848.73, indicating a slight increase from CNY 740,549,093.30 at the end of the previous period[145]. - The company's capital reserve decreased by CNY 38,400,000.00 during the reporting period[147]. - The company's retained earnings at the end of the period were CNY 730,294,323.00, showing a decrease of CNY 67,200,000.00 due to profit distribution[147]. - The total current assets decreased from CNY 1,426,271,292.29 to CNY 1,293,932,735.27, a decline of approximately 9.3%[119]. - Cash and cash equivalents decreased from CNY 475,047,179.10 to CNY 395,885,024.54, a reduction of about 16.7%[119]. - Accounts receivable increased from CNY 531,279,041.21 to CNY 613,153,069.72, an increase of approximately 15.4%[119]. - The total number of shares increased from 96,000,000 to 134,400,000 due to a capital reserve conversion of 38,400,000 shares[103]. Compliance and Governance - The company has appointed Deloitte Touche Tohmatsu Certified Public Accountants LLP as its auditor for the 2018 fiscal year, continuing from the previous year[91]. - The company strictly adheres to environmental protection laws and has not faced any penalties for environmental violations during the reporting period[97]. - There were no significant lawsuits or arbitration matters during the reporting period[91]. - The company has not undergone any changes in controlling shareholders or actual controllers during the reporting period[113]. - The company reported a commitment to not reduce shareholdings within six months from the occurrence of relevant facts[89].

Financial Performance - Operating income for the first quarter was CNY 180,149,855.81, a decline of 6.88% year-on-year[6] - Net profit attributable to shareholders increased by 0.87% to CNY 27,072,757.92 compared to the same period last year[6] - The company did not report any significant changes in net profit expectations compared to the previous year[19] - Total operating revenue for Q1 2018 was CNY 180,149,855.81, a decrease of 6.8% compared to CNY 193,466,497.98 in the same period last year[30] - Net profit for Q1 2018 was CNY 26,997,385.61, slightly up from CNY 26,867,540.75 in the previous year, reflecting a growth of 0.5%[30] - The net profit attributable to shareholders of the parent company was CNY 27,265,504.90, slightly up from CNY 27,180,170.38, reflecting a growth of 0.31% year-over-year[34] - The total comprehensive income for the period was CNY 27,265,504.90, compared to CNY 27,180,170.38 in the previous year, showing a slight increase[35] Cash Flow - Cash flow from operating activities surged by 396.06% to CNY 61,466,136.86 compared to the previous year[6] - Operating cash flow net amount increased by 396.06% to ¥61,466,136.86, driven by increased cash collections from accounts receivable[18] - The net cash flow from operating activities was CNY 61,466,136.86, significantly improved from CNY 12,390,991.49 in the same quarter last year[37] - Net cash flow from operating activities improved to CNY 41,800,281.25, compared to a net outflow of CNY -30,332,274.39 in the same period last year[41] Assets and Liabilities - Total assets decreased by 4.96% to CNY 2,389,911,363.50 compared to the end of the previous year[6] - Total assets as of March 31, 2018, amounted to CNY 2,284,408,184.86, a decrease from CNY 2,408,764,912.55 at the beginning of the year[29] - Total liabilities decreased to CNY 642,299,263.66 from CNY 793,921,496.25, representing a reduction of 19%[28] - The company reported a decrease in short-term borrowings to CNY 0 from CNY 20,000,000.00, indicating a shift towards reduced leverage[28] Shareholder Information - The number of shareholders reached 12,845 by the end of the reporting period[9] - The weighted average return on equity decreased by 3.21 percentage points to 1.64%[6] Receivables and Inventory - Other receivables decreased by 43.88% to CNY 79,539,562.25 due to the recovery of receivables from a subsidiary[13] - Accounts receivable increased to CNY 552,657,551.32 from CNY 531,279,041.21, indicating a growth in sales or credit terms[22] - Accounts receivable increased to CNY 508,327,145.83 from CNY 489,859,636.18, indicating a growth of 3.0%[27] - Inventory increased to CNY 83,177,850.85 from CNY 80,078,216.18, reflecting a rise of 3.0%[27] Expenses - Sales expenses decreased by 45.75% to ¥2,916,958.05 due to the exclusion of Jiangsu Yong'an's carbon technology company from the consolidation scope and a reduction in freight costs[16] - Financial expenses dropped by 96.56% to ¥68,865.63 primarily due to a decrease in interest expenses[16] - The company reported a decrease in operating costs to CNY 95,277,530.49 from CNY 119,601,816.74, a reduction of 20.3%[34] - The company incurred management expenses of CNY 15,822,904.73, which is an increase of 60.3% compared to CNY 9,888,888.83 in the previous year[34] Cash and Cash Equivalents - Cash and cash equivalents at the end of the period amounted to ¥419,172,164.20, a 254.49% increase compared to the previous year[18] - Cash and cash equivalents decreased to CNY 388,659,652.87 from CNY 449,630,015.86, a decline of 13.5%[27] - The ending cash and cash equivalents balance was CNY 386,710,473.47, down from CNY 443,331,657.06 at the beginning of the period[42] - Total cash and cash equivalents decreased by CNY 56,621,183.59 during the quarter[42]

Financial Performance - The company's operating revenue for 2017 was approximately CNY 1.05 billion, representing a 36.20% increase compared to CNY 774 million in 2016[27]. - Net profit attributable to shareholders reached approximately CNY 516 million, a significant increase of 343.85% from CNY 116 million in the previous year[27]. - The company's net assets attributable to shareholders increased by 203.82% to approximately CNY 1.64 billion, driven by net profit and the issuance of 24 million A-shares[29]. - Total assets grew by 92.86% to approximately CNY 2.51 billion, primarily due to the increase in net profit and capital raised from share issuance[29]. - Basic earnings per share rose to CNY 6.46, marking a 298.77% increase from CNY 1.62 in 2016[28]. - The weighted average return on equity increased to 52.00%, up 28.14 percentage points from 23.86% in the previous year[28]. - The company achieved a revenue of CNY 1,054,531,441.44, representing a year-on-year increase of 36.20%[58]. - The net profit attributable to shareholders was CNY 51,644,91, an increase of 343.85% year-on-year[58]. - The net cash flow from operating activities showed a strong recovery in Q4, reaching approximately ¥255 million, after a negative cash flow in Q3[9]. - The company reported non-recurring gains of approximately ¥394 million in 2017, primarily from the disposal of non-current assets[32]. Business Operations - The report outlines the company's business model, which includes both stable and dynamic business segments within the shared mobility industry[13]. - The company experienced growth in revenue from public bicycle system sales, operations, and user-paid shared bicycles, leading to overall revenue growth[29]. - The company plans to continue expanding its public bicycle system and user-paid shared bicycle services to enhance revenue streams[29]. - The company operates in the shared mobility sector, focusing on public bicycle systems and other shared transport solutions, leveraging IoT and big data technologies[36]. - By the end of 2017, there were approximately 25 million shared bicycles in China, highlighting the rapid expansion of the industry[43]. - The company has established public bicycle projects in about 252 cities and regions, adding around 40 new locations during the reporting period[57]. - The company has developed a new generation of public bicycle systems that integrate the advantages of traditional public bicycles and shared bicycles, enhancing operational efficiency[57]. - The company plans to promote shared electric bicycles and shared cars in 2018, expanding its service offerings[57]. - The company is focusing on technology innovation using IoT and big data to improve user experience and operational efficiency[98]. Investments and R&D - The company has invested CNY 41,051,424.97 in research and development, a 227.44% increase from the previous year[60]. - Total R&D investment accounted for 3.89% of operating revenue, with 419 R&D personnel representing 8.19% of the total workforce[74]. - The company is actively pursuing patent research and development to protect its business interests and is collaborating with universities on technology innovation projects in IoT, big data, and new energy[99]. - The company has 419 R&D personnel, which indicates a strong focus on innovation and product development[178]. Corporate Governance and Compliance - The company reported a standard unqualified audit opinion from the accounting firm, ensuring the accuracy and completeness of the financial report[4]. - The company’s board of directors and management confirm the authenticity and completeness of the annual report, taking legal responsibility for any misrepresentation[8]. - The company is committed to maintaining transparency and compliance with relevant laws and regulations, including the Company Law and Securities Law[14]. - The company has a governance structure that complies with relevant laws and regulations, ensuring transparency and accountability[183]. - The company did not disclose any significant deficiencies in internal control during the reporting period[191]. - The management is responsible for ensuring the financial statements are prepared in accordance with accounting standards and maintaining necessary internal controls[200]. Risks and Challenges - The company emphasizes the importance of risk awareness regarding forward-looking statements and potential investment risks[6]. - The company acknowledges the risk of fluctuating government support for the bicycle transportation sector, which could affect market capacity and profitability[102]. - The company faces risks related to the impact of shared bicycles on its public bicycle business if it fails to innovate and control costs effectively[101]. - The company is exposed to risks from rising material and labor costs that could impact the profitability of its service contracts over a five-year period[104]. - The company anticipates potential fluctuations in gross profit margins due to market maturity and project scale, which could introduce uncertainty in future earnings growth[105]. - The company is under pressure regarding cash flow management due to increasing operational funding needs as business volume grows[107]. Shareholder Information - The company plans to distribute a cash dividend of 7 RMB per 10 shares, totaling 67,200,000 RMB, and to increase its total share capital by 38,400,000 shares through capital reserve conversion, raising total shares to 134,400,000[5]. - The largest shareholder, Sun Jisheng, holds 33,436,808 shares, representing 34.83% of the total shares, with 2,452,754 shares pledged[156]. - The company has a total of 9,600,000 shares outstanding after the public offering, which diluted the earnings per share and net asset value per share for the year[150]. - The company has a total of 185.88 million yuan in pre-tax remuneration for its directors and senior management[169]. - The company has not granted any stock incentives to directors and senior management during the reporting period[172]. Financial Position - The total assets increased from RMB 1,303,882,893.58 at the beginning of the period to RMB 2,514,647,052.74 at the end of the period, while total liabilities rose from RMB 763,172,566.09 to RMB 873,054,311.17[153]. - The company's debt-to-asset ratio improved from 58.53% to 34.72% during the reporting period[153]. - Cash and cash equivalents increased by 181.60% to ¥475,047,179.10, primarily due to funds raised from the public offering of shares[80]. - Accounts receivable rose by 67.27% to ¥531,279,041.21, attributed to the expansion of business scale and increased project volume[80]. - Other receivables increased by 126.79% to ¥141,738,738.15, mainly due to deposits and recharge amounts from shared bicycle operations prior to losing control over 永安行低碳[80]. Audit and Financial Adjustments - The audit report confirmed that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2017[194]. - The company has made adjustments to its financial statements to reflect the new accounting standards, including the classification and measurement of non-current assets held for sale[128]. - The company has no significant accounting errors to correct during the reporting period[129]. - The company has not faced any risks of suspension or termination of its listing[129].