2022 年第一季度报告 证券代码：603860 证券简称：中公高科 中公高科养护科技股份有限公司 2022 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大 遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务报表 信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | | 本报告期比上年同期 | | | --- | --- | --- | --- | --- | | | | | 增减变动幅度(%) | | | 营业收入 | | 11,684,816.43 | -48.94 | | | 归属于上市公司股东的净利润 | | -4,167,645.19 | 26.82 | | | 归属于上市公司股东的扣除非 经 ...

Financial Performance - The company's total revenue for 2021 was RMB 203,294,982.30, representing a 13.12% increase compared to RMB 179,709,123.14 in 2020[23] - Net profit attributable to shareholders was RMB 37,783,286.75, a 7.83% increase from RMB 35,040,322.33 in the previous year[23] - The net profit after deducting non-recurring gains and losses was RMB 34,111,177.25, which is a significant increase of 40.96% from RMB 24,199,008.36 in 2020[23] - The basic earnings per share for 2021 was RMB 0.57, up 7.55% from RMB 0.53 in 2020[24] - The weighted average return on equity increased to 5.56% in 2021 from 5.38% in 2020, marking an increase of 0.18 percentage points[24] - The cash flow from operating activities was RMB 36,155,218.18, showing a slight decrease of 0.11% compared to RMB 36,193,679.06 in 2020[23] - The company reported a net asset value attributable to shareholders of RMB 695,578,606.96 at the end of 2021, which is a 4.63% increase from RMB 664,803,388.21 at the end of 2020[23] Revenue Breakdown - The company's total revenue for the year reached 120,509,023.79 RMB, with a quarterly breakdown of 22,884,711.60 RMB in Q1, 29,493,983.73 RMB in Q2, 30,407,263.18 RMB in Q3, and 37,723,064.28 RMB in Q4[26] - The net profit attributable to shareholders was 39,428,248.99 RMB for the year, showing a significant recovery from a loss of 5,694,973.13 RMB in Q1 and 3,090,019.50 RMB in Q2[26] - The company reported a net cash flow from operating activities of 67,720,313.04 RMB for the year, indicating a strong improvement from a negative cash flow of -22,762,786.34 RMB in Q1[26] Research and Development - The company has developed a lightweight detection system for rural roads, which has been completed and aims to significantly reduce detection equipment costs[32] - The company has expanded its rural road maintenance consulting business, successfully implementing projects covering a total of 120,000 kilometers[32] - The company participated in the development of the "Guidelines for Technical Condition Assessment of Low-Grade Rural Roads," which provides a scientific basis for assessing the technical condition of rural roads[34] - The company has successfully applied for multiple provincial research projects, including studies on road surface preventive maintenance and non-destructive testing technologies[33] - The company holds 58 patents, including 51 invention patents, and has been recognized for its technological achievements in highway maintenance[60] - The company participated in multiple national and industry major research projects, with results recognized as "internationally leading" in several areas[60] - The company has established a national engineering research center for highway maintenance technology, enhancing its research capabilities[60] Strategic Initiatives - The company aims to become a leading provider of high-quality road maintenance services, with a vision to enhance road efficiency and customer satisfaction[32] - The company has outlined its "14th Five-Year Development Plan," focusing on strengthening its core business and enhancing service quality[32] - The company actively participated in the development of the "14th Five-Year" highway maintenance management plan, providing technical support for the guidelines[35] - The company launched the "Nest Building and Phoenix Introduction" project to promote technological innovation, focusing on big data, intelligent maintenance, and high-end equipment[36] - The company is involved in the construction of a comprehensive maintenance management system for the national highway network, transitioning from traditional experience-based decision-making to modern scientific decision-making[40] Market Position and Competition - The company is positioned to benefit from national policies supporting the promotion of scientific decision-making in highway maintenance across the country[42] - The company provides a complete set of technology and services for highway maintenance scientific decision-making, establishing a strong market position in this field[44] - The company has a competitive advantage in research and technology, having participated in significant research projects and contributed to industry standards[44] - The company is positioned to benefit from the growing demand for scientific decision-making technology services in regions with well-developed highway infrastructure[43] - The company faces risks of declining gross margins due to rising operating costs outpacing revenue growth, despite currently maintaining a high gross margin[94] - There is a risk of losing core technical personnel, which could weaken the company's competitive advantage in the technology-intensive highway maintenance sector[94] - The company is exposed to market competition risks as new entrants with significant resources may disrupt its established market position[95] Governance and Management - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[99] - The company has established various committees, including a strategy and development committee, to enhance governance and protect shareholder interests[100] - The total pre-tax compensation for the board members and senior management during the reporting period amounted to 1,032.27 million CNY, with a decrease of 629,587 shares held by key personnel[103] - The company has a structured approach to governance, with clear roles defined for its board and management teams[110] - The company has engaged in various consulting and technology development initiatives through its subsidiaries and affiliated companies[109] Financial Management and Reporting - The audit opinion confirmed that the financial statements fairly reflect the company's financial position and operating results for the year[183] - Key audit matters included revenue recognition and expected credit losses on accounts receivable, highlighting the importance of these areas in the financial reporting process[185] - The company has implemented internal controls to ensure the accuracy of revenue recognition, which is a critical performance indicator[185] - The management is responsible for assessing the company's ability to continue as a going concern, which is crucial for financial reporting[188] - The company has committed to transparency in its financial reporting and will disclose any significant changes in accounting policies or estimates[155] Shareholder Information - The largest shareholder, Zhonglu Gaoke Transportation Technology Group Co., Ltd., held 30,832,000 shares, representing 46.24% of the total shares[175] - The total number of ordinary shareholders at the end of the reporting period was 4,797, a decrease from 4,836 at the end of the previous month[173] - The company reported no changes in the total number of shares and capital structure during the reporting period[171] - The company has no strategic investors or general legal entities that became top 10 shareholders due to new share placements[176] Risks and Challenges - The company is addressing the challenge of traditional decision-making mindsets in highway maintenance, which may hinder the adoption of scientific decision-making practices[95] - The establishment of a scientific decision-making system in highway maintenance is heavily influenced by industry policies, posing a risk if unfavorable regulations emerge[95] - The company faces risks in its fundraising projects, including technological uncertainty and market changes, which could impact investment returns and expected earnings[96]

公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人孟书涛、主管会计工作负责人崔连营及会计机构负责人（会计主管人员）卢晓晨 保证季度报告中财务报表信息的真实、准确、完整。 第三季度财务报表是否经审计 2021 年第三季度报告 证券代码：603860 证券简称：中公高科 中公高科养护科技股份有限公司 2021 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： □是 √否 一、 主要财务数据 主要会计数据和财务指标 单位：元 币种：人民币 | | | 本报告期比上 | | 年初至报告期末 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 年同期增减变 | 年初至报告期末 | 比上年同期增减 | | | | 动幅度(%) | | 变动幅度(%) | | 营业收入 | 30,407,263.18 | -29.35 | 82,785,958.51 | ...

Financial Performance - The company's operating revenue for the first half of 2021 was ¥52,378,695.33, representing a 28.57% increase compared to ¥40,738,063.59 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2021 was -¥8,784,992.63, an improvement from -¥11,611,923.98 in the previous year[18]. - The net cash flow from operating activities was -¥32,037,567.97, slightly better than -¥33,246,799.43 in the same period last year[18]. - The total assets at the end of the reporting period were ¥751,810,748.97, down 4.77% from ¥789,495,121.14 at the end of the previous year[18]. - The net assets attributable to shareholders decreased by 2.38% to ¥649,010,327.58 from ¥664,803,388.21 at the end of the previous year[18]. - The basic earnings per share for the first half of 2021 was -¥0.13, an improvement from -¥0.17 in the same period last year[19]. - The weighted average return on net assets increased by 0.5 percentage points to -1.33% from -1.83% in the previous year[19]. - The company reported a total profit of 1,721,736.21, with a minority interest impact of -450.00[20]. - The company reported a net profit margin of approximately -20.7% for the first half of 2021, compared to -43.9% in the first half of 2020[122]. - The net profit for the first half of 2021 was a loss of ¥1,910,441.98[58]. - The net profit for Zhonggong Huike in the first half of 2021 was a loss of ¥755,853.26[59]. Assets and Liabilities - The total assets of the subsidiary Baizhou Company amounted to ¥246,921,138.86, with a net asset value of ¥94,774,348.62 as of June 30, 2021[56]. - The company's total assets as of June 30, 2021, amounted to CNY 751,810,748.97, a decrease of 4.8% from CNY 789,495,121.14 at the end of 2020[115]. - Total liabilities decreased to CNY 97,319,199.24 as of June 30, 2021, down 17.7% from CNY 118,205,875.02 at the end of 2020[115]. - The total equity attributable to the parent company at the end of the reporting period was 66,680,000.00[140]. - The total liabilities at the end of the reporting period were 654,491,549.73, indicating a significant financial position[140]. Research and Development - The company has developed a series of comprehensive management information systems for highway asset management, including CRMS and iRMS[25]. - As of June 2021, the company holds 48 invention patents, 7 utility model patents, 2 design patents, and 102 software copyrights, showcasing its strong R&D capabilities[36]. - The company has participated in multiple major research projects, with results recognized as "internationally leading" in areas such as highway maintenance technology and rapid detection methods[37]. - Research and development expenses rose by 6.79% to ¥6,624,493.29, compared to ¥6,203,277.19 in the previous year[49]. Market and Business Strategy - The main business includes highway maintenance decision consulting services, rapid road condition detection equipment production and sales, and highway maintenance information system development and sales[22]. - The company emphasizes the importance of scientific decision-making and modernization in highway maintenance management[32]. - The company is focusing on enhancing its core competitiveness through technology innovation, market expansion, and improving service quality as part of its 14th Five-Year Plan[42]. - The company plans to focus on expanding its market presence and investing in new product development to drive future growth[122]. Risks and Challenges - The company faces risks of declining gross profit margins due to increasing operating costs outpacing revenue growth[60]. - There is a risk of losing core technical personnel, which could weaken the company's competitive advantage[61]. - The company is exposed to market expansion risks as traditional decision-making methods in road maintenance may hinder the adoption of new technologies[64]. - The establishment of a scientific decision-making system in road maintenance is significantly influenced by industry policies, posing a risk to the company's development[65]. Corporate Governance and Compliance - The company has made commitments to avoid engaging in similar business activities that could compete with its subsidiaries[78]. - The company guarantees that any unavoidable related transactions will adhere to fair market principles and normal commercial terms[83]. - The company has not reported any administrative penalties related to environmental issues during the reporting period[76]. - There were no significant lawsuits or arbitration matters during the reporting period[98]. Shareholder Information - The largest shareholder, Zhonglu Gaoke Transportation Technology Group Co., Ltd., holds 30,832,000 shares, representing 46.24% of total shares[106]. - The total number of ordinary shareholders reached 4,768 by the end of the reporting period[104]. - The company will publicly disclose any failure to fulfill commitments and apologize to shareholders and the public[94]. Cash Flow and Financial Position - The cash flow from investment activities was significantly impacted by a large investment payment of 39,875,000.00 RMB in the first half of 2021[132]. - The company experienced a net cash decrease of 80,004,197.02 RMB due to various operational and investment activities during the first half of 2021[130]. - The total cash outflow from operating activities was 79,194,320.44 RMB, a decrease from 81,823,770.55 RMB year-over-year[132]. - The company reported cash and cash equivalents of RMB 171,666,214.61 as of June 30, 2021, down from RMB 252,174,555.63 at the end of 2020, indicating a decrease of approximately 32%[113].

2021 年第一季度报告 公司代码：603860 公司简称：中公高科 中公高科养护科技股份有限公司 2021 年第一季度报告 一、 重要提示 1 / 18 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 5 | | 四、 | 附录 7 | 2021 年第一季度报告 2021 年第一季度报告 单位：股 | 股东总数（户） | | | | | | 4,870 | | --- | --- | --- | --- | --- | --- | --- | | | | | 前十名股东持股情况 | | | | | | 期末持股 | 比例 | 持有有限 | | 质押或冻结情况 | | | 股东名称（全称） | 数量 | (%) | 售条件股 | 股份 | 数量 | 股东性质 | | | | | 份数量 | 状态 | | | | 中路高科交通科技集团 有限公司 | 30,832,000 | 46.24 | 0 | 无 | 0 | 国有法人 | | 赵怀志 | 4,500,000 | 6.75 | 0 | 无 | 0 | 境内自然人 | | 潘玉利 | 4, ...

Financial Performance - In 2020, the company's operating revenue was CNY 179,709,123.14, a decrease of 17.10% compared to CNY 216,783,908.61 in 2019[22] - The net profit attributable to shareholders was CNY 35,040,322.33, down 36.32% from CNY 55,026,036.69 in the previous year[22] - The basic earnings per share decreased to CNY 0.53, a decline of 36.14% from CNY 0.83 in 2019[23] - The total assets at the end of 2020 were CNY 789,495,121.14, representing a 4.53% increase from CNY 755,278,845.33 in 2019[22] - The net cash flow from operating activities was CNY 36,193,679.06, down 47.76% from CNY 69,285,665.31 in 2019[22] - The weighted average return on equity decreased to 5.38%, down 3.5 percentage points from 8.88% in 2019[23] - The overall financial performance indicates a strong recovery trajectory, with significant improvements in both revenue and profitability in the latter half of the year[25] - The company achieved operating revenue of ¥179,709,123.14, a decrease of 17.10% year-on-year[64] - Net profit for the period was ¥34,517,546.24, down 38.21% compared to the previous year[64] - The net cash flow from operating activities was ¥36,193,679.06, a decline of 47.76% year-on-year[64] Dividend Distribution - The company plans to distribute a cash dividend of CNY 1.051 per 10 shares, totaling CNY 7,008,068.00[5] - The company distributed a cash dividend of 1.6505 RMB per 10 shares, totaling 11,005,534 RMB for the year 2019, which represents 20% of the net profit attributable to ordinary shareholders[107] - In 2020, the company paid a cash dividend of 1.051 RMB per 10 shares, amounting to 7,008,068 RMB, also representing 20% of the net profit attributable to ordinary shareholders[108] - The company has a cash dividend policy that has been strictly followed, with no adjustments made during the reporting period[107] - The company has maintained a consistent dividend distribution strategy over the past three years, with cash dividends per 10 shares as follows: 1.435 RMB in 2018, 1.6505 RMB in 2019, and 1.051 RMB in 2020[108] - The company has established a robust decision-making and supervision mechanism for its dividend distribution, ensuring the protection of minority shareholders' rights[107] Research and Development - The company’s R&D expenses amounted to ¥13,170,480.53, representing 7.33% of total operating revenue[77] - The company has established a national engineering research center for highway maintenance technology, enhancing its industry influence[45] - The company is actively involved in national and provincial major scientific research projects, contributing to industry standards and policies[89] - The company has developed a complete set of technical services for highway maintenance decision-making, addressing issues related to data transmission and integration[50] - The company’s research project on "High-Grade Highway Pavement Maintenance Support Technology" was included in the 2020 Major Technological Innovation Achievements Database by the Ministry of Transport[56] - The company’s multi-functional road condition rapid detection system (CiCS I) won the National Science and Technology Progress Second Prize[47] Market Position and Strategy - The company specializes in providing road maintenance decision-making technology and services, targeting government road management agencies and related enterprises[30] - The company aims to expand its market presence through technological advancements and enhanced service offerings in road maintenance[30] - The company is positioned as a comprehensive supplier in the emerging road maintenance decision-making industry, with a unique offering of integrated systems and services[89] - The market demand for scientific maintenance decision-making is expected to grow steadily due to increasing requirements for effective fund utilization by highway management departments[40] - The company aims to enhance its market expansion efforts, focusing on rural road business growth and leveraging policy advantages to convert them into market advantages[94] Risks and Challenges - The company has outlined potential risks in its future development plans, emphasizing the need for investors to be aware of investment risks[7] - The company faces a risk of declining gross profit margin due to increasing operating costs outpacing revenue growth, with a notable downward trend in gross margin[98] - The company is highly dependent on technical personnel, facing risks of talent loss to competitors offering better compensation[100] - The company is experiencing market competition risks as demand for scientific decision-making systems in road maintenance grows, attracting new competitors[101] - The company is subject to policy risks that could impact the establishment and improvement of the scientific decision-making system in road maintenance[103] Corporate Governance - The company has a clear governance structure with designated roles for its board members and management[171] - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[180] - The company has established a robust governance structure, integrating party organization into its governance framework to enhance decision-making and oversight[178] - The company has a structured remuneration decision process based on the roles and responsibilities of its directors and senior management[171] - The company has committed to aligning its compensation policies with industry standards to attract and retain talent[171] Employee Composition and Training - As of the end of 2020, the company had a total of 218 employees, with 85 holding master's degrees or higher, accounting for approximately 40% of the workforce[48] - The total number of employees in the parent company and major subsidiaries is 218, with 185 in the parent company and 33 in subsidiaries[174] - The professional composition includes 134 technical personnel, 17 sales personnel, and 13 production personnel, indicating a strong focus on technical expertise[174] - Training programs are designed to enhance professional skills and management capabilities, with a focus on practical effectiveness and alignment with company strategy[176] Audit and Compliance - The audit opinion states that the financial statements of Zhonggong Gaoke reflect the financial position and operating results fairly as of December 31, 2020[188] - The internal control audit report received a standard unqualified opinion, indicating effective internal controls[185] - The audit procedures included analyzing monthly revenue, costs, and gross profit fluctuations to ensure compliance with accounting standards[191] - The company has not reported any significant accounting errors or changes in accounting policies during the reporting period[137] - The company has not reached its original profit forecasts for certain assets or projects during the reporting period[136]

Financial Performance - Operating revenue for the first nine months fell by 28.21% to CNY 83,780,057.93 year-on-year[6] - Net profit attributable to shareholders was a loss of CNY 1,631,084.42, a decline of 110.83% compared to the same period last year[6] - The weighted average return on equity decreased by 2.77 percentage points to -0.26%[6] - Total revenue for Q3 2020 was CNY 43,041,994.34, a slight decrease of 0.57% compared to CNY 43,287,294.30 in Q3 2019[19] - Operating profit for Q3 2020 was CNY 10,011,380.73, an increase of 1.85% from CNY 9,829,417.25 in Q3 2019[19] - Net profit for Q3 2020 reached CNY 9,545,946.81, up 17.5% from CNY 8,121,237.74 in Q3 2019[19] - The net profit attributable to the parent company for Q3 2020 was CNY 9,980,839.56, an increase of 22.9% compared to CNY 8,117,661.53 in Q3 2019[20] - Total operating revenue for Q3 2020 was CNY 39,886,350.35, slightly down from CNY 39,894,671.58 in Q3 2019, representing a decrease of 0.02%[22] - The operating profit for Q3 2020 was CNY 11,302,546.07, up from CNY 10,168,567.06 in Q3 2019, indicating a growth of 11.1%[23] - The total comprehensive income for Q3 2020 was CNY 10,866,297.44, compared to CNY 8,576,000.59 in Q3 2019, reflecting an increase of 26.7%[23] Assets and Liabilities - Total assets decreased by 4.35% to CNY 722,407,002.50 compared to the end of the previous year[6] - Total assets as of September 30, 2020, were CNY 722,407,002.50, down from CNY 755,278,845.33 at the end of 2019[15] - Total liabilities decreased to CNY 88,659,671.79 from CNY 107,726,600.25 at the end of 2019, representing a reduction of approximately 17.7%[15] - Current assets totaled CNY 375,586,982.90, a decrease from CNY 450,828,554.33 at the end of 2019[15] - The company reported a total equity of CNY 633,747,330.71, down from CNY 647,552,245.08 at the end of 2019[15] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 33,013,354.49, compared to a net inflow of CNY 15,052,715.83 in the previous year[6] - The net cash flow from operating activities for the first three quarters of 2020 was negative at CNY -33,013,354.49, compared to CNY -15,052,715.83 in the same period of 2019[26] - In Q3 2020, the net cash flow from operating activities was -29,652,468.90 RMB, a decline compared to -11,382,001.41 RMB in Q3 2019, indicating a worsening operational cash flow situation[29] - The net cash flow from investment activities was CNY 80,753,884.32 for the first three quarters of 2020, a significant improvement from CNY -32,665,288.48 in the same period of 2019[26] - The company reported a total cash inflow from investment activities of CNY 262,124,760.54 in the first three quarters of 2020, compared to CNY 192,691,263.62 in 2019, marking an increase of 36.0%[26] - The company reported a total cash inflow from investment activities of 317,124,760.54 RMB in Q3 2020, compared to 192,691,263.62 RMB in Q3 2019, marking a 64.5% increase[29] - The cash outflow for investment activities was 237,329,643.93 RMB in Q3 2020, slightly higher than 222,505,417.50 RMB in Q3 2019, indicating increased investment activity[29] Inventory and Construction - Inventory increased by 34.11% to CNY 45,955,269.14 due to an increase in work-in-progress[11] - The company reported a significant increase in construction in progress, rising by 50.30% to CNY 133,769,400.72 due to ongoing projects[11] - Inventory increased to CNY 45,955,269.14 from CNY 34,267,408.45, reflecting a growth of 34.1%[15] Shareholder Information - The number of shareholders reached 4,210, with the top ten shareholders holding 68.68% of the total shares[8] Government Support - The company received government subsidies amounting to CNY 7,144,866.39 for the first nine months, an increase of 71.82% year-on-year[11] Research and Development - Research and development expenses for Q3 2020 were CNY 3,934,928.24, compared to CNY 3,630,114.06 in Q3 2019, indicating an increase of 8.4%[19] Future Outlook - The company has not disclosed any major changes in its future outlook or strategic plans in the report[12] Changes in Accounting - The company reclassified accounts receivable and prepayments to contract assets and liabilities, respectively, in accordance with new revenue recognition standards effective January 1, 2020[32][34] - The company reported a decrease in accounts receivable from 106,517,063.31 RMB at the end of 2019 to 98,301,200.95 RMB by November 1, 2020, reflecting improved collection efforts[31] - The company’s contract liabilities increased to 20,271,374.83 RMB as of November 1, 2020, indicating a growth in unearned revenue from signed contracts[31]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥40,738,063.59, a decrease of 44.51% compared to ¥73,415,165.58 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2020 was -¥11,611,923.98, representing a decline of 267.08% from ¥6,949,912.29 in the previous year[19]. - The net cash flow from operating activities was -¥33,246,799.43, worsening from -¥23,464,103.36 in the same period last year[19]. - The company reported a significant drop in net profit after deducting non-recurring gains and losses, which was -¥16,024,135.39, down 409.67% from ¥5,174,610.37 in the previous year[19]. - Basic earnings per share for the first half of 2020 were -¥0.17, a decrease of 270% compared to ¥0.10 in the same period last year[20]. - The weighted average return on net assets was -1.83%, a decrease of 2.99 percentage points from 1.16% in the previous year[20]. - The company's total assets decreased by 6.79% to ¥704,020,123.29 from ¥755,278,845.33 at the end of the previous year[19]. - The net assets attributable to shareholders decreased by 3.53% to ¥618,151,141.90 from ¥640,768,611.08 at the end of the previous year[19]. Business Operations - The company specializes in providing scientific decision-making technology and services for highway maintenance, targeting government highway management agencies and related enterprises[26]. - The main business includes highway maintenance decision consulting services, production and sales of rapid road condition detection equipment, and development and sales of highway maintenance information systems[27]. - The company operates under a project-based management model, overseeing projects from market development to implementation and acceptance[34]. - The company’s sales strategy involves direct sales and agency sales, with a focus on maintaining customer relationships through ongoing support and upgrades[36]. - The company has established a stable customer base, providing services to highway management departments across 29 provinces and regions[48]. Research and Development - As of the report date, the company holds 39 invention patents, 5 utility model patents, 1 design patent, and 88 software copyrights, showcasing its strong R&D capabilities[43]. - The company has established a national engineering research center for highway maintenance technology, enhancing its leading position in the industry[44]. - The company’s multi-functional road condition rapid detection system has won the National Science and Technology Progress Award (Second Class) and has been certified by the UK SCANNER[45]. - The company has developed a series of comprehensive management information systems for highway asset management, including CRMS and iRMS[29]. Market Challenges - The decline in performance was primarily attributed to the impact of the COVID-19 pandemic on project bidding and implementation, as well as delays in customer procurement plans[21]. - The company faces risks of declining gross profit margins due to increasing operating costs outpacing revenue growth[67]. - The company is at risk of losing core technical personnel, which could weaken its competitive advantage in the market[68]. - The company is experiencing market expansion risks as traditional decision-making methods in highway maintenance may hinder the adoption of scientific decision-making systems[71]. - The establishment of a scientific decision-making system in highway maintenance is significantly influenced by industry policies, posing a risk to the company's growth[72]. Financial Management and Compliance - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital for the reporting period[6]. - The company will avoid related party transactions as much as possible and ensure that any unavoidable transactions adhere to fair market principles[83]. - The company will not occupy funds or require guarantees from the company in any form, ensuring financial independence[85]. - The company commits to strict compliance with laws regarding shareholding changes and will return any profits gained from violations to the company[89]. - The company has pledged to compensate investors for losses caused by false statements or omissions in the prospectus[102]. Shareholder Information - The total number of common stock shareholders at the end of the reporting period was 4,516[124]. - The largest shareholder, Zhonglu Gaoke Transportation Technology Group Co., Ltd., holds 30,832,000 shares, accounting for 46.24% of the total shares[126]. - The company has a lock-up period for its shares, which will automatically extend if the stock price falls below the issue price within six months of listing[86]. - Shareholders are restricted to transferring no more than 25% of their holdings annually during their tenure and cannot transfer shares within six months after leaving the company[89]. Cash Flow and Investment - The cash flow from operating activities for the first half of 2020 was a net outflow of CNY 33,246,799.43, compared to a net outflow of CNY 23,464,103.36 in the same period of 2019[149]. - The total cash inflow from investment activities was 181,087,700.27 RMB, up from 111,897,795.14 RMB in the first half of 2019, representing an increase of about 62%[153]. - The cash outflow for investment activities reached 190,469,900.00 RMB, compared to 103,867,687.50 RMB in the previous year, marking an increase of approximately 83%[153]. - The net cash flow from investment activities was -9,382,199.73 RMB, a significant decrease from 8,030,107.64 RMB in the first half of 2019[153]. Accounting Policies - The company has implemented the new revenue recognition standard since January 1, 2020, which has resulted in a reclassification of accounts receivable and contract assets, impacting the balance sheet by a decrease of RMB 9,438,399.77 in accounts receivable and an increase of the same amount in contract assets as of June 30, 2020[120]. - The financial statements prepared by the company comply with the requirements of the accounting standards, accurately reflecting its financial position and operating results[182]. - The company’s accounting period runs from January 1 to December 31 each year[183].

Financial Performance - Operating revenue fell by 67.46% to CNY 10,778,776.53 year-on-year[7] - Net profit attributable to shareholders was a loss of CNY 10,541,737.04, a decrease of 539.25% compared to the same period last year[7] - Basic and diluted earnings per share were both CNY -0.16, a decline of 500% year-on-year[7] - Operating profit for Q1 2020 was a loss of CNY 11,884,317.31, compared to a profit of CNY 2,897,159.38 in Q1 2019[25] - Net profit for Q1 2020 was a loss of CNY 11,685,541.33, compared to a profit of CNY 2,462,966.53 in Q1 2019[26] - The company's net profit for the period is expected to be a loss, with significant changes compared to the previous year[14] - The total comprehensive income for Q1 2020 was -8,786,397.12 RMB, a stark contrast to 2,720,767.94 RMB in Q1 2019, indicating a decline of approximately 423%[30] Assets and Liabilities - Total assets decreased by 5.22% to CNY 715,848,289.56 compared to the end of the previous year[7] - The total assets as of March 31, 2020, amounted to ¥715,848,289.56, down from ¥755,278,845.33 at the end of 2019[17] - The company's total liabilities decreased to ¥79,981,585.81 from ¥107,726,600.25, indicating improved financial stability[18] - Total liabilities decreased to CNY 68,893,361.44 in Q1 2020 from CNY 95,038,480.53 in Q1 2019[22] - Total equity decreased to CNY 634,017,193.83 in Q1 2020 from CNY 642,803,590.95 in Q1 2019[22] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 31,979,133.99, compared to a net outflow of CNY 24,670,212.33 in the same period last year[7] - The company experienced a net cash outflow from operating activities of -31,979,133.99 RMB in Q1 2020, compared to -24,670,212.33 RMB in Q1 2019, indicating a worsening cash flow situation[32] - The net cash flow from operating activities was -$29,260,525.21, compared to -$21,784,570.83 in the previous year, indicating a decline in operational performance[34] - The total cash outflow from operating activities was $48,256,259.11, slightly down from $48,768,840.74 in the previous year, reflecting stable operational costs[34] Cash and Cash Equivalents - Cash and cash equivalents increased by 55.99% to CNY 259,385,955.75 due to the recovery of financial products[13] - Cash and cash equivalents increased to ¥259,385,955.75 from ¥166,281,619.50, showing a positive liquidity position[16] - The company's cash and cash equivalents increased to 258,338,550.46 RMB at the end of Q1 2020, compared to 123,570,105.90 RMB at the end of Q1 2019, reflecting a growth of 109.5%[32] - The total cash and cash equivalents at the end of the period increased to $181,697,659.97, up from $100,150,684.52 in the previous year, indicating improved liquidity[34] Investment Activities - Investment income surged by 577.42% to ¥641,726.13 from ¥94,731.51, mainly due to increased returns from financial products[14] - Investment activities generated a net cash inflow of 125,023,470.24 RMB in Q1 2020, a significant improvement from a net cash outflow of -11,024,289.61 RMB in Q1 2019[32] - The net cash flow from investment activities was $60,697,110.27, a substantial improvement from -$17,046,168.49 in the previous year, showcasing effective investment strategies[34] - Cash outflow for investment payments rose to $64,760,000.00 from $17,000,000.00, indicating a significant increase in investment activities[34] Shareholder Information - The number of shareholders at the end of the reporting period was 4,942[11] - The top shareholder, Zhonglu Gaoke Transportation Technology Group Co., Ltd., held 30,832,000 shares, accounting for 46.24% of the total shares[11] Government Subsidies and Tax Refunds - The company reported a government subsidy of CNY 854,611.29 recognized in the current period[6] - The company reported a significant increase in tax refunds received, which rose by 84.42% to ¥559,266.48 from ¥303,258.61[14] - The company received tax refunds amounting to 559,266.48 RMB in Q1 2020, compared to 303,258.61 RMB in Q1 2019, which is an increase of 84.3%[31] Research and Development - Research and development expenses for Q1 2020 were CNY 3,192,549.64, an increase from CNY 2,978,885.59 in Q1 2019[25] - Research and development expenses rose to 2,813,368.94 RMB in Q1 2020, up from 2,531,338.43 RMB in Q1 2019, indicating a year-over-year increase of approximately 11.1%[30]

Financial Performance - In 2019, the company's operating revenue reached ¥216,783,908.61, representing a 3.88% increase compared to ¥208,693,886.47 in 2018[20] - The net profit attributable to shareholders was ¥55,026,036.69, marking a 15.02% increase from ¥47,840,892.94 in the previous year[20] - The net cash flow from operating activities significantly increased by 71.62% to ¥69,285,665.31 from ¥40,371,692.16 in 2018[20] - The total assets of the company at the end of 2019 were ¥755,278,845.33, a 7.42% increase from ¥703,134,439.74 in 2018[20] - The basic earnings per share rose to ¥0.83, reflecting a 15.28% increase from ¥0.72 in 2018[21] - The weighted average return on equity increased to 8.88%, up by 0.6 percentage points from 8.28% in the previous year[21] - The net assets attributable to shareholders at the end of 2019 were ¥640,768,611.08, a 7.23% increase from ¥597,562,605.02 in 2018[20] - The company reported a net profit of -1,839,233.82 RMB for the year 2019, indicating a loss[95] - The company achieved operating revenue of CNY 216,783,908.61, an increase of 3.88% year-on-year[72] - Net profit reached CNY 55,861,861.44, reflecting a year-on-year growth of 16.50%[72] - The net cash flow from operating activities was CNY 69,285,665.31, up 71.62% compared to the previous year[72] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥1.6505 per 10 shares, totaling ¥11,005,534.00 to shareholders[5] - The company reported a cash dividend of 1.6505 RMB per 10 shares for the year 2019, totaling 11,005,534 RMB distributed to shareholders[112] - The net profit attributable to ordinary shareholders for 2019 was 55,026,036.69 RMB, with a dividend payout ratio of 20%[112] Business Operations and Services - The main business includes highway maintenance decision-making consulting services, rapid road condition detection equipment production and sales, and highway maintenance information system development and sales[29][30][32] - The company offers a range of road condition detection equipment, including multi-functional rapid detection systems and various testing devices, catering to different maintenance management needs[31] - The company has developed a comprehensive management series of information systems for highway asset management, including CRMS and iRMS[32] - The company aims to expand its market presence by providing tailored consulting services and advanced technology solutions to government and enterprise clients involved in highway management[29][30] - The company focuses on technological innovation in highway maintenance, enhancing its service offerings through research and development of new products[31][32] - The company provides a complete set of systems and services for highway maintenance scientific decision-making, including rapid road condition detection equipment, maintenance information systems, and consulting services, establishing a strong competitive position in the industry[42] Research and Development - As of the end of 2019, the company held 38 invention patents, 5 utility model patents, 1 design patent, and 88 software copyrights, showcasing its rich research and technological achievements[45] - The company has a robust independent R&D system, focusing on market-oriented and product-targeted innovation, leading to significant technological advantages[44] - The company actively participates in major research projects, with several technological research outcomes recognized as "internationally leading" in their respective fields[45] - The company has implemented over 40 provincial and departmental research projects during the reporting period, with key projects included in the 2019 transportation industry key technology project list[56] Market Position and Strategy - The highway maintenance industry is experiencing stable profit growth due to increasing market demand and the shift towards scientific decision-making in highway management[41] - The company is positioned at the forefront of the highway maintenance industry, benefiting from the ongoing marketization reforms and the increasing emphasis on sustainable management practices[41] - The company established the only national-level engineering research center for highway maintenance technology in China, which was approved in November 2011 and passed acceptance in December 2016, solidifying its leading position in the industry[46] - The company has developed multiple advanced road condition detection systems, including the CiCS I, II, III, and IV, with over 3.3 million kilometers of national and provincial highway maintenance consulting services provided[47][50] Employee and Management Structure - As of the end of 2019, the company employed 213 people, with 80 holding master's degrees or higher, representing 38% of the workforce, and 128 technical personnel, accounting for 60%[48] - The company has a total of 4,824 ordinary shareholders as of the end of the reporting period, an increase from 4,722 at the end of the previous month[165] - The company has undergone management changes, including the appointment of Cheng Ning as General Manager and Gong Yu as Chief Financial Officer[184] - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[190] - The company continues to focus on maintaining stability in its leadership structure and ensuring continuity in management roles[179] Risks and Challenges - The company emphasizes the potential risks in its forward-looking statements, which may differ from actual results due to various factors[6] - The company faces risks related to declining gross profit margins due to increasing operating costs outpacing revenue growth[109] - The company is at risk of losing core technical personnel to competitors offering higher salaries, which could weaken its competitive advantage[109] - The company is exposed to market competition risks as demand for its services grows, attracting new entrants with significant resources[110] Compliance and Governance - The company maintained independence from its controlling shareholder in operations, personnel, and financial matters[190] - There were no significant related party transactions that could affect the company's independence or harm shareholder interests[192] - The company has not reported any significant changes in shareholding or remuneration for the supervisory board members during the reporting period[178] - The overall governance structure reflects a commitment to transparency and accountability within the organization[179] Financial Management - The company reported a total of RMB 205 million in bank wealth management products sourced from the proceeds of the initial public offering, with an outstanding balance of RMB 55 million[157] - The company also invested RMB 110 million in bank wealth management products using its own funds, with an outstanding balance of RMB 70 million[157] - The company purchased structured deposits totaling RMB 55,000,000.00 from Huaxia Bank, yielding an actual return of RMB 438,041.09 upon maturity on March 25, 2020[159] Community Engagement - The company is actively involved in poverty alleviation efforts, including training for local transportation officials and financial support for students in need[160] - The company is developing a "Smart Highway Maintenance Technology Application Development Center" project, which is currently in the construction phase[162]