Financial Performance - The company's consolidated net profit attributable to shareholders for 2019 was ¥155,838,116.54, a decrease of 13.81% compared to ¥180,799,639.67 in 2018[5]. - The operating revenue for 2019 was ¥4,971,330,414.00, showing a slight decline of 0.16% from ¥4,979,471,829.73 in the previous year[21]. - Basic earnings per share decreased by 21.62% to ¥0.87 from ¥1.11 in 2018[23]. - The weighted average return on net assets was 8.54%, down from 13.33% in the previous year, a decrease of 4.79 percentage points[23]. - The net profit attributable to shareholders was RMB 15,583,810, reflecting a decline of 13.81% year-on-year[44]. - The company's main business revenue for the reporting period was 4.889 billion RMB, a decrease of 0.32% year-on-year[48]. - The total operating revenue for 2019 was CNY 4,971,330,414, a slight decrease from CNY 4,979,471,829.73 in 2018[198]. - Net profit for 2019 was CNY 155,838,116.54, down from CNY 180,799,639.67 in 2018, reflecting a decrease of approximately 13.8%[199]. Assets and Liabilities - The total assets rose significantly by 53.82% to ¥2,898,190,371.37 compared to ¥1,884,118,944.87 in 2018[22]. - The net assets attributable to shareholders increased by 14.17% to ¥1,919,247,361.56 from ¥1,681,037,157.97 in 2018[22]. - Total liabilities reached CNY 978,943,009.81 in 2019, significantly up from CNY 203,081,786.90 in 2018, indicating an increase of approximately 382%[192]. - Shareholders' equity grew to CNY 1,919,247,361.56 in 2019, compared to CNY 1,681,037,157.97 in 2018, representing an increase of about 14.2%[192]. - The company's debt-to-asset ratio as of December 31, 2019, was 33.78%, with total liabilities amounting to 979 million yuan[128]. Cash Flow - The net cash flow from operating activities was ¥380,865,193.80, a significant recovery from a negative cash flow of -¥370,952,439.85 in 2018[21]. - The net cash flow from operating activities significantly increased to 380.87 million RMB, compared to a negative cash flow of 370.95 million RMB in the same period last year[60]. - The net cash flow from investing activities decreased to -955.37 million RMB, compared to -411.64 million RMB in the same period last year[60]. - The net cash flow from financing activities decreased by 17.82% to 543.66 million RMB[60]. Research and Development - Research and development investment amounted to RMB 102,437,387, up by 2.28% from the previous year[42]. - Research and development expenses totaled 102.44 million RMB, accounting for 2.06% of operating revenue[59]. - The company identifies key R&D areas including new materials and technologies for electric vehicle motors and intelligent manufacturing, aiming to maintain a leading position in product design and manufacturing processes[78]. Market and Industry Position - The electromagnetic wire market in China has matured, with the company being a leading manufacturer in this sector, producing a wide range of specifications[33]. - The company is focusing on expanding into new application areas such as the electric vehicle and renewable energy sectors, indicating a strategic shift in market focus[73]. - The company anticipates increased market consolidation in the electromagnetic wire industry due to rising operational pressures on smaller firms[73]. Shareholder and Governance - The company has established a cash dividend policy, committing to distribute at least 10% of its distributable profits as cash dividends annually when conditions permit[83]. - The company has commitments from major shareholders to not transfer or manage their shares for 36 months post-IPO, ensuring stability in shareholding[88]. - The company maintains a robust governance structure, ensuring transparency and protecting shareholder rights[117]. - The board of directors consists of 7 members, including 3 independent directors, complying with legal requirements[166]. Financial Management - The company has invested a total of ¥247,200,000 in bank wealth management products using temporarily idle raised funds[108]. - The company reported a financial return of 2.6% to 5.0% on various investment products, indicating a focus on wealth management[114]. - The company has successfully recovered 100% of the principal amounts across various financial management products[110]. Compliance and Risk Management - The company has outlined potential risks in its future development in the report, urging investors to be aware of investment risks[6]. - The company faces market risks due to dependence on downstream industries like home appliances and automotive, which are sensitive to economic fluctuations[79]. - The company has implemented new financial instrument standards, leading to a reclassification of certain assets and liabilities in its financial statements[63]. Employee and Operational Efficiency - The company has established a comprehensive employee benefits system, including various types of insurance and a competitive salary structure[118]. - The management team has maintained a low turnover rate among frontline employees, ensuring operational stability and efficiency[40]. - The total number of employees in the parent company is 576, while the total number of employees in major subsidiaries is 82, resulting in a combined total of 658 employees[159].

Financial Performance - Net profit attributable to shareholders decreased by 17.70% to CNY 116,919,998.00 for the first nine months of the year[6] - Operating revenue for the first nine months decreased by 4.08% to CNY 3,593,601,752.34 compared to the same period last year[6] - Basic earnings per share decreased by 26.67% to CNY 0.66[7] - Diluted earnings per share decreased by 27.78% to CNY 0.65[7] - The weighted average return on net assets decreased by 4.8 percentage points to 6.49%[7] - Total operating revenue for Q3 2019 was approximately $1.20 billion, a decrease of 5.5% compared to Q3 2018's $1.27 billion[30] - Net profit for Q3 2019 was approximately $43.09 million, a decline of 23.6% from $56.51 million in Q3 2018[32] - Total profit for Q3 2019 was approximately $51.62 million, a decrease of 20.2% compared to $64.65 million in Q3 2018[32] - The company reported a total profit of CNY 51,246,382.60 in Q3 2019, a decrease of 12.5% from CNY 58,171,236.81 in Q3 2018[36] Cash Flow - The net cash flow from operating activities improved significantly to CNY 226,967,698.69, compared to a negative cash flow of CNY -431,568,303.38 in the previous year[6] - Cash inflow from operating activities for the first three quarters of 2019 was CNY 3,744,242,764.38, a decrease of 1.25% compared to CNY 3,791,701,441.11 in the same period of 2018[42] - Net cash flow from operating activities for the first three quarters of 2019 was CNY 225,439,426.73, recovering from a negative CNY 406,721,594.63 in the same period of 2018[42] - Cash inflow from financing activities was CNY 621,289,245.28 in the first three quarters of 2019, down from CNY 1,399,513,260.19 in the same period of 2018[42] - Net cash flow from financing activities was CNY 543,664,023.55 for the first three quarters of 2019, compared to CNY 661,679,746.13 in the same period of 2018[43] Assets and Liabilities - Total assets increased by 44.51% to CNY 2,722,655,720.49 compared to the end of the previous year[6] - Current liabilities rose to CNY 315,303,845.51, up from CNY 206,126,327.20, indicating a 52.9% increase compared to the previous year[28] - Long-term debt, specifically bonds payable, amounted to CNY 526,054,752.45, with no prior balance reported[24] - The company's cash and cash equivalents decreased to CNY 47,607,273.74 from CNY 106,036,347.50, a decline of 55.2%[26] - Total liabilities reached CNY 203,081,786.90, with current liabilities at CNY 189,419,607.56 and non-current liabilities at CNY 13,662,179.34[46] Shareholder Information - The total number of shareholders reached 20,601 by the end of the reporting period[11] - The largest shareholder, Zhejiang Great Wall Electric Group Co., Ltd., holds 45.82% of the shares[12] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 4,589,051.85 for the year-to-date[9] - Other income surged by 1015.46% to ¥4,582,301.85, primarily from increased government subsidies related to daily operations[15] Investment and Financial Management - Investment income increased by 570.85% to ¥12,165,208.31, attributed to higher financial management returns[15] - The company issued convertible bonds totaling ¥634 million, with a conversion price adjusted to ¥24.03 per share[15] - The company achieved investment income of approximately $6.85 million in Q3 2019, up from $2.63 million in Q3 2018[31] Expenses - Financial expenses increased by 55.01% to ¥28,996,428.27, mainly due to increased interest on bonds payable[15] - Research and development expenses for Q3 2019 were approximately $25.43 million, slightly down from $25.72 million in Q3 2018[30] - The company incurred financial expenses of CNY 29,447,148.45 in the first three quarters of 2019, significantly higher than CNY 18,711,691.19 in the same period of 2018[35] Equity and Capital Structure - The total equity attributable to shareholders rose to CNY 1,854,492,835.16 from CNY 1,668,880,253.28, marking an increase of 11.1%[29] - The capital reserve stands at 925,770,269.35, reflecting strong financial backing[50] - The company reported a total paid-in capital of 178,400,000.00, maintaining its capital structure[50] Compliance and Standards - The company implemented new financial instrument standards starting January 1, 2019, affecting the classification of financial assets[51] - The company’s financial reporting complies with the latest accounting standards without the need for prior adjustments[51]

证券代码：603897 证券简称：长城科技 公告编号：2019-096 债券代码：113528 债券简称：长城转债 转股代码：191528 转股简称：长城转股 浙江长城电工科技股份有限公司关于参加 浙江辖区上市公司投资者网上集体接待日活动的公告 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。 为进一步加强与投资者的沟通交流，浙江长城电工科技股份有限公司（以下简 称"公司"）将参加由浙江上市公司协会、深圳市全景网络有限公司共同举办的"浙 江辖区上市公司投资者网上集体接待日"活动（以下简称"本次活动"），现将有关 事项公告如下： 本次活动将通过深圳市全景网络有限公司提供的网上平台，采取网络远程方式 举行。投资者可登录"投资者关系互动平台"网站 (http://rs.p5w.net）参与本次 投资者集体接待日活动，活动时间为2019年11月5日（星期二）下午15:30至17:00。 届时公司将通过网络在线交流形式与投资者就公司治理、发展战略、经营状况、可 持续发展等投资者关心的问题进行沟通。 欢迎广大投资者积极参与。 特此公告 ...

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 2,392,125,174.79, a decrease of 3.37% compared to the same period last year[16]. - The net profit attributable to shareholders of the listed company was CNY 73,828,447.75, down 13.71% year-on-year[16]. - The net profit after deducting non-recurring gains and losses was CNY 68,391,386.43, a decrease of 12.47% compared to the previous year[16]. - Basic earnings per share for the first half of 2019 were CNY 0.41, down 29.31% from CNY 0.58 in the same period last year[17]. - The weighted average return on net assets was 4.12%, a decrease of 3.85 percentage points compared to the previous year[17]. - The company achieved operating revenue of CNY 239,212.52 million in the first half of 2019, a decrease of 3.37% compared to the same period last year[30]. - Net profit attributable to shareholders was CNY 7,382.84 million, down 13.71% year-on-year[30]. - The net profit for the first half of 2019 was CNY 73,828,447.75, a decline of 13.73% from CNY 85,559,203.83 in the first half of 2018[109]. - Earnings per share (EPS) for the first half of 2019 was CNY 0.41, compared to CNY 0.58 in the same period of 2018[110]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 227,499,128.24, a significant improvement from a negative cash flow of CNY -847,139,125.34 in the same period last year[16]. - The net cash flow from operating activities significantly improved to CNY 227,499.13 million, compared to a negative cash flow in the same period last year[33]. - The net cash flow from operating activities showed a positive trend, indicating improved operational efficiency and financial health[119]. - Cash flow from operating activities generated approximately ¥227.50 million, a significant improvement from a negative cash flow of ¥847.14 million in the same period last year[116]. - Cash and cash equivalents decreased to approximately 85.48 million RMB from 108.66 million RMB at the end of the previous year[100]. - The total cash and cash equivalents at the end of the first half of 2019 was ¥63,287,362.12, down from ¥126,609,632.78 at the end of the first half of 2018[120]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,655,998,430.33, an increase of 40.97% compared to the end of the previous year[16]. - The total liabilities increased to CNY 846,277,841.61 in the first half of 2019, significantly higher than CNY 218,303,067.74 in the previous year[106]. - Total liabilities reached ¥818,794,219.48, significantly higher than ¥203,081,786.90, marking an increase of around 303%[102]. - Current liabilities rose to ¥278,691,449.53 from ¥189,419,607.56, reflecting an increase of approximately 47%[101]. - Owner's equity increased to ¥1,837,204,210.85 from ¥1,681,037,157.97, showing a growth of about 9.3%[102]. Market Position and Operations - The company specializes in the research, production, and sales of electromagnetic wires, with a product range covering over 1,000 specifications and thermal grades from 130 to 240[22]. - The company ranks third in sales revenue among the top 11 electromagnetic wire manufacturers in China, indicating a strong market position[26]. - Approximately 90% of the company's products are sold in the East China region, which is a major industrial hub for electric motors and home appliances[28]. - The company has established a stable customer base, including well-known domestic and international brands, ensuring consistent demand for its products[26]. - The production volume of electromagnetic wire products reached 50,870 tons, an increase of 1.07% year-on-year, while sales volume was 50,321 tons, up 1.11%[30]. Research and Development - Research and development expenses increased by 4.96% to CNY 50,821.30 million, reflecting the company's commitment to innovation[33]. - The company holds 76 patents, including 3 invention patents, demonstrating its commitment to innovation and technology development[28]. - The company has developed several new products recognized as provincial-level new products, indicating ongoing innovation in its product offerings[28]. - The company has established partnerships with renowned research institutions, enhancing its research and development capabilities[27]. Risks and Challenges - The decline in operating revenue was primarily due to a drop in copper prices, which led to a greater decrease in sales prices than the increase in sales volume[32]. - The company faces market risks due to the slowing economic growth and structural optimization in China, which may impact the overall industry and the company's revenue and profitability[40]. - Raw material costs, primarily electrolytic copper and copper rods, account for over 90% of the company's main business costs, making copper price fluctuations a significant risk[41]. - The company has a large accounts receivable balance, and any delays in customer payments could adversely affect its operating performance and cash flow[41]. - Environmental protection costs may increase due to stricter regulations, which could require the company to upgrade production processes and facilities[42]. Corporate Governance and Compliance - The company has not disclosed any plans for new products, technologies, market expansion, or mergers and acquisitions in this report[5]. - The company did not propose any profit distribution or capital reserve increase for the half-year period[47]. - The actual controller and shareholders committed not to transfer or entrust their shares for 36 months post-IPO, with penalties for violations[48]. - The company has appointed Tianjian Accounting Firm as the auditor for the 2019 fiscal year, approved at the 2018 annual shareholders' meeting[56]. - There are no significant litigation or arbitration matters during the reporting period[56]. - The company and its controlling shareholders have maintained good integrity, with no unfulfilled court judgments or significant overdue debts[56]. Financial Instruments and Accounting Policies - The company’s financial statements have been prepared in accordance with the revised general enterprise financial reporting format issued by the Ministry of Finance[197]. - The company has implemented new financial instrument standards effective January 1, 2019, which include changes to accounting policies and estimates[198]. - The company recognizes expected credit losses for other receivables and accounts for them in accordance with its accounting policies[162]. - The company applies expected credit loss model for impairment measurement of financial instruments, with credit losses defined as the present value of cash shortfalls[153]. - The company does not apply the expected credit loss model to long-term receivables, as it is not applicable[161].

2019 年第一季度报告 公司代码：603897 公司简称：长城科技 浙江长城电工科技股份有限公司 2019 年第一季度报告 1 / 26 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 7 | | 四、 | 附录 10 | 2019 年第一季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | | | | | 减(%) | | | 总资产 | 2,518,471,356.33 | 1,884,118,944.87 | | 33.67 | | 归属于上市公司 | 1,826,399,159.43 | 1,681,037,157.97 | | 8.65 | | 股东的净资 ...

Financial Performance - The company's consolidated net profit attributable to shareholders for 2018 was CNY 180,799,639.67, representing a 1.90% increase compared to the previous year[5]. - The total operating revenue for 2018 reached CNY 4,979,471,829.73, an increase of 8.63% from CNY 4,583,950,888.93 in 2017[20]. - The basic earnings per share for 2018 was CNY 1.11, a decrease of 16.54% compared to CNY 1.33 in 2017[22]. - The company's total assets as of December 31, 2018, were CNY 1,884,118,944.87, reflecting a 42.95% increase from CNY 1,318,072,291.68 at the end of 2017[21]. - The net cash flow from operating activities for 2018 was negative CNY 370,952,439.85, indicating a significant decline compared to the positive cash flow of CNY 70,994,710.77 in 2017[21]. - The weighted average return on net assets for 2018 was 13.33%, down from 25.05% in 2017, a decrease of 11.72 percentage points[22]. - The company's net assets attributable to shareholders increased by 110.96% to CNY 1,681,037,157.97 by the end of 2018[21]. - The company reported a decrease in the diluted earnings per share, which was also CNY 1.11 for 2018, down from CNY 1.33 in 2017[22]. - The company achieved a main business revenue of 4.904 billion RMB, representing a year-on-year growth of 8.68%[49]. - Main business costs increased to 4.532 billion RMB, reflecting a year-on-year rise of 9.54%[49]. - The total profit for 2018 was CNY 201.28 million, a decrease of 10.6% from CNY 225.01 million in the previous year[189]. Cash Flow and Investments - The net cash flow from operating activities significantly declined to -370.952 million RMB, compared to 70.995 million RMB in the same period last year[61]. - Net cash flow from investing activities also dropped to -411.642 million RMB, largely due to increased cash outflows for financial products and fixed asset purchases[61]. - Net cash flow from financing activities surged by 676.65% to 661.518 million RMB, attributed to funds raised from the initial public offering[61]. - The company has invested a total of 93,000,000 RMB in bank wealth management products, with an outstanding balance of 25,000,000 RMB and no overdue amounts[104]. - The company has also invested 13,500,000 RMB in broker wealth management products, with an outstanding balance of 1,500,000 RMB and no overdue amounts[104]. - The company has engaged in various wealth management agreements with different banks, achieving annualized returns ranging from 2.40% to 5.02%[106][108]. Research and Development - The company increased its R&D investment to CNY 10,015.58 million, a 36.77% increase from the previous year[42]. - The company has established partnerships with renowned research institutions to enhance its R&D capabilities[37]. - The company plans to continue focusing on R&D to drive future growth and innovation[187]. Market Position and Strategy - The company maintains a strong position in the domestic electromagnetic wire market, being one of the leading manufacturers with a wide range of products[31]. - The electromagnetic wire market in China accounts for approximately 50% of global production, indicating a mature and competitive industry landscape[33]. - The company aims to become a core partner in enhancing customer value and a promoter of the electromagnetic wire industry's transformation and upgrading, aligning with the "Made in China 2025" initiative[74]. - The company emphasizes a scale development strategy to effectively control costs and meet customer demand, focusing on new market opportunities in renewable energy and intelligent manufacturing[74]. - The company plans to optimize its product structure and enhance profitability by expanding into emerging markets such as new energy vehicles and high-efficiency motors[76]. Risk Management - The company has outlined potential risks in its future development, which are detailed in the report[7]. - The company recognizes market risks due to economic fluctuations and competition, which could impact revenue and profitability if it fails to innovate and expand[78]. - Raw material costs, particularly electrolytic copper, account for over 90% of the company's main business costs, making price fluctuations a significant risk[78]. - The company faces funding risks due to its capital-intensive nature and potential delays in customer payments, which could adversely affect cash flow[79]. - Environmental protection costs may increase due to stricter regulations, posing a risk to the company's operations and financial performance[79]. - The company is at risk of talent loss due to competition for skilled workers in the industry, which could impact management stability and product development[80]. Shareholder and Governance - The company plans to distribute a cash dividend of CNY 1.50 per 10 shares, totaling CNY 267,600,000 based on the total share capital of 178,400,000 shares[5]. - The profit distribution plan for 2018 includes a cash dividend of 1.50 CNY per 10 shares, totaling 26,760,000.00 CNY[88]. - The company has a policy of distributing at least 10% of the distributable profit as cash dividends annually, provided there are no significant capital expenditures in the following 12 months[84]. - The company has committed to not transferring or managing shares held by major shareholders for a period of 36 months post-listing[90]. - The company has committed to repurchase shares if the stock price falls below the audited net asset value per share for 20 consecutive trading days within three years post-IPO[91]. - The company has established a policy to prevent directors and senior management from misusing company assets for personal investments unrelated to their duties[94]. - The company will ensure that any competitive activities by actual controllers do not harm the interests of the company and its shareholders[94]. - The company has maintained a strong governance structure, ensuring transparency and protecting shareholder rights[111]. Compliance and Legal Matters - The company has not faced any risks of suspension or termination of its listing, reflecting a solid compliance status[101]. - The company has not reported any significant environmental violations, confirming its status as a non-key pollutant unit[113]. - The audit report confirmed that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2018[164]. - There were no significant deficiencies in internal controls reported during the audit period[160]. - The company did not disclose any major risks identified by the supervisory board during the reporting period[158]. Employee and Management - The company has implemented a comprehensive employee welfare system, including social insurance and a competitive compensation structure[112]. - The company has established a training system tailored to different job categories, focusing on skill development and safety training[148]. - The company has a stable management team with no changes in key positions during the reporting period[140]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 3.9333 million yuan[143].

证券代码：603897 证券简称：长城科技 浙江长城电工科技股份有限公司 投资者关系活动记录表 编号：2019-001 | --- | --- | --- | |-------------------------------------|-----------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------| | 投资者关系活 | □分析师会议 □媒体采访 | ■特定对象调研 □业绩说明会 | | 动类别 | □路演活动 □现场参观 □其他 | □新闻发布会 | | | | 、华富基金：龚炜、黄嗣杰 | | | | 2、德邦证券：刁举鹏 | | | | 3、民生证券：胡玉峰 | | 参与单位名称 | | 4、恒泰证券：管宣 | | 及人员姓名 | | 、华宝投资：钱寅浩 | | | | 、雁丰投资：刘婕 | | ...

2018 年第三季度报告 公司代码：603897 公司简称：长城科技 浙江长城电工科技股份有限公司 2018 年第三季度报告 1 / 23 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 9 | 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 1,810,718,714.93 1,318,072,291.68 37.38 归属于上市公司 股东的净资产 1,642,302,496.42 796,862,185.11 106.10 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减(%) 经营活动产生的 现金流量净额 -431,568,303.38 -444,595,865.18 2.93 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减 （%） 营业收入 3,746,540,179.36 3,265,683,532.83 14.72 归属于上市公司 ...

Financial Performance - The company's operating revenue for the first half of 2018 was ¥2,475,529,705.13, representing an increase of 18.79% compared to ¥2,083,958,240.62 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was ¥85,559,203.83, up 9.38% from ¥78,222,745.14 in the previous year[17]. - The net cash flow from operating activities was -¥847,139,125.34, a significant decrease compared to ¥37,356,720.64 in the same period last year, reflecting a decline of 2,367.70%[17]. - The total assets increased by 61.76% to ¥2,132,165,387.02 from ¥1,318,072,291.68 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company rose by 99.01% to ¥1,585,796,722.13 from ¥796,862,185.11 at the end of the previous year[17]. - The basic earnings per share remained stable at ¥0.58, with no change compared to the same period last year[18]. - The weighted average return on equity decreased by 3.91 percentage points to 7.97% from 11.88% in the previous year[18]. - The production volume of electromagnetic wire products was 50,331 tons, up 6.93% year-on-year, while sales volume increased by 7.06% to 49,767 tons[32]. - Total operating costs amounted to ¥2,378,958,935.40, up from ¥1,987,091,307.93, reflecting a year-over-year increase of 19.7%[103]. - Net profit for the first half of 2018 was ¥85,559,203.83, representing a 9.4% increase from ¥78,222,745.14 in the previous year[104]. Capital and Financing - The company raised a total of ¥787,636,000.00 from the issuance of 44.6 million new shares at an issue price of ¥17.66 per share in April 2018[19]. - The net proceeds from the fundraising, after deducting issuance costs, amounted to ¥703,375,333.19[19]. - Short-term borrowings increased by 378.40% to CNY 449,700,000, indicating a rise in financing activities[38]. - The company raised ¥703,375,333.19 from shareholder contributions during the period, indicating strong investor confidence[116]. - Cash inflow from financing activities reached ¥1,348,090,364.19, a substantial rise from ¥302,000,000.00 in the previous period[113]. Market Position and Operations - The company specializes in the research, production, and sales of electromagnetic wires, with a product range covering over 1,000 specifications and a temperature grade from 130 to 240[24]. - The company ranks third among the top 11 electromagnetic wire manufacturers in China based on sales revenue, with significant production and sales volume in the industry[28]. - Approximately 90% of the company's products are sold in the East China region, which is a major industrial hub for electric motors and home appliances[30]. - The company has established a strong customer base, including well-known domestic and international brands, ensuring stable and continuous demand for its products[28]. - The company employs a sales model based on direct sales to downstream manufacturers, with annual supply framework agreements signed with major clients[25]. - The company has implemented a production model based on customer orders, ensuring efficient production planning and inventory management[25]. Research and Development - Research and development expenses rose by 34.14% to CNY 48,420,295.61, reflecting the company's commitment to innovation[34]. - The company holds 55 patents, including 3 invention patents, and has developed several key new products recognized at the national and provincial levels[30]. Risks and Challenges - The company faces significant market risks due to the slowing economic growth and structural changes in China, which may impact downstream industry performance[44]. - The company relies heavily on copper as a raw material, with over 90% of its main business costs attributed to electrolytic copper and copper rods, making it vulnerable to price fluctuations[45]. - The company operates in a capital-intensive industry, and a large accounts receivable balance poses a risk if customers delay payments due to financial difficulties[45]. - Increased environmental protection costs may arise as stricter regulations are implemented, requiring upgrades to production processes and facilities[46]. - The company is at risk of talent loss due to competition for skilled workers in the industry, which could affect management stability and product development[46]. - Product quality control is complex, and failure to meet customer quality expectations could lead to complaints and loss of clients, impacting the company's reputation[47]. Shareholder and Governance - The company has not proposed any profit distribution or capital reserve increase for the half-year period[51]. - The company held two shareholder meetings during the reporting period, with the first meeting occurring before its listing on April 10, 2018[50]. - The company has committed to not transferring or managing its shares for 36 months post-listing, ensuring stability in shareholding[53]. - The company will repurchase shares if the stock price falls below the audited net asset value per share for 20 consecutive trading days within three years post-IPO[54]. - The company commits to a lock-up period of at least 6 months for management personnel, with potential extensions if stock price conditions are not met[54]. Environmental and Compliance - The company has implemented measures to ensure wastewater, noise, and air emissions meet national standards[64]. - The company has passed the ISO 14001:2015 environmental management system certification[64]. - The company does not belong to the list of key pollutant discharge units published by the local environmental protection bureau[64]. Accounting and Financial Reporting - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations for the next 12 months[131]. - The company adheres to the accounting policies and estimates as per the enterprise accounting standards, ensuring the financial statements reflect a true and complete view of its financial position and performance[133]. - The company recognizes revenue from the sale of goods when the risks and rewards of ownership are transferred to the buyer, and the revenue amount can be reliably measured[172]. - The company applies hedge accounting for commodity futures, following specific criteria for effectiveness and documentation[178]. - The effective tax rate for corporate income tax is set at 25%[181].

Financial Performance - Operating revenue rose by 19.42% to CNY 1,113,730,153.22 year-on-year[6] - Net profit attributable to shareholders increased by 14.20% to CNY 35,449,956.80 compared to the same period last year[6] - Basic earnings per share improved by 29.17% to CNY 0.31[6] - The net profit for the current period was ¥41,784,098.77, representing a growth of 32.5% from ¥31,548,921.53 in the same period last year[19] - Total comprehensive income for the current period was ¥41,784,098.77, compared to ¥31,548,921.53 in the previous period, reflecting overall growth[19] Asset and Liability Changes - Total assets increased by 5.28% to CNY 1,387,605,728.76 compared to the end of the previous year[6] - Total liabilities increased to ¥548,959,444.88 from ¥521,210,106.57, indicating a rise in the company's obligations[16] - Cash and cash equivalents decreased by 97.01% to ¥7,804,877 from ¥260,597,803 due to the repayment of maturing notes payable[12] - Accounts receivable increased by 599.93% to ¥319,879,287.98 from ¥45,701,824.10, primarily due to a decrease in the discounting of acceptance bills[12] - Prepayments increased by 475.95% to ¥1,383,010.82 from ¥240,128.40, attributed to an increase in advance payments for purchases[12] Cash Flow Analysis - Cash flow from operating activities decreased significantly by 149.15% to -CNY 560,731,819.38 compared to the previous year[6] - The company reported a net cash flow from operating activities of -¥560,731,819.38, worsening from -¥225,053,861.74 in the previous period[20] - Investment activities resulted in a net cash outflow of -¥5,347,270.22, compared to a net inflow of ¥627,272.33 in the previous period[23] - The financing activities generated a net cash inflow of ¥344,163,162.30, significantly higher than ¥155,199,320.26 in the previous period[23] Shareholder Information - The total number of shareholders at the end of the reporting period was 9[10] - The largest shareholder, Zhejiang Great Wall Electronic Technology Group Co., Ltd., holds 61.10% of the shares[11] Company Strategy and Developments - The company has not disclosed any new product developments or market expansion strategies in this report[6] - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[18] Other Financial Metrics - The company’s weighted average return on equity increased by 0.14 percentage points to 5.11%[6] - Other income increased by 1389.65% to ¥8,415,031 from ¥564,900, primarily due to a significant rise in government subsidies received[13] - Deferred income rose by 164.00% to ¥3,908,500 from ¥1,480,500, mainly due to an increase in government grants related to assets[12] - Short-term borrowings rose by 359.57% to ¥432,000,000 from ¥94,000,000, indicating an increase in borrowings during the period[12] - The gross profit margin improved to 7.2%, up from 6.9% in the previous period, indicating better cost management[18]