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法律责任。 重要内容提示： 证券代码：603915 证券简称：国茂股份 公告编号：2023-036 江苏国茂减速机股份有限公司 关于召开 2023 年半年度业绩说明会的公告 会议召开时间：2023 年 9 月 12 日(星期二)下午 14:00-15:00 会 议 召 开 平 台 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 9 月 5 日(星期二)至 9 月 11 日(星期一)16:00 前登 录上证路演中心网站首页点击"提问预征集"栏目或通过江苏国茂减速机股 份有限公司（以下简称"公司"）邮箱（contact@guomaoreducer.com）进行 提问。公司将在业绩说明会上对投资者普遍关注的问题进行回答。 公司已于 2023 年 8 月 29 日发布公司 2023 年半年度报告，为便于广大投资 者更全面深入地了解公司 2023 年半年度经 ...

证券代码：603915 证券简称：国茂股份 公告编号：2023-021 江苏国茂减速机股份有限公司 关于召开 2022 年度暨 2023 年第一季度业绩说明会 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法律责任。 重要内容提示： 投资者可于 2023 年 5 月 10 日(星期三)至 5 月 15 日(星期一)16:00 前登 录上证路演中心网站首页点击"提问预征集"栏目或通过江苏国茂减速机股 份有限公司（以下简称"公司"）邮箱（contact@guomaoreducer.com）进行 提问。公司将在业绩说明会上对投资者普遍关注的问题进行回答。 公司已于 2023 年 4 月 28 日发布公司 2022 年年度报告及 2023 年第一季度 报告，为便于广大投资者更全面深入地了解公司 2022 年度及 2023 年第一季度经 营成果、财务状况，公司计划于 2023 年 5 月 16 日(星期二)下午 13:00-14:00 举 行 2022 年度暨 2023 年第一季度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 ...

Financial Performance - The company's operating revenue for Q1 2023 was ¥625.73 million, an increase of 2.62% compared to ¥609.76 million in the same period last year[3]. - Net profit attributable to shareholders was ¥80.39 million, representing a 24.25% increase from ¥64.70 million year-on-year[3]. - Basic earnings per share for the period was ¥0.12, compared to ¥0.10 in the same period last year, reflecting a 20% increase[4]. - The net profit for Q1 2023 was CNY 79,781,235.11, an increase of 24.1% compared to CNY 64,364,106.47 in Q1 2022[18]. - The total comprehensive income for Q1 2023 was CNY 79,843,447.57, compared to CNY 64,385,061.65 in Q1 2022, reflecting a growth of 24.1%[19]. - The total operating profit for Q1 2023 was CNY 86,728,204.93, an increase of 28.0% from CNY 67,752,557.92 in Q1 2022[18]. Cash Flow and Liquidity - The net cash flow from operating activities was ¥30.38 million, a significant recovery from a negative cash flow of ¥137.80 million in the previous year[3]. - The company's cash and cash equivalents as of March 31, 2023, amounted to RMB 1,006,384,697.96, compared to RMB 944,081,007.89 at the end of 2022, reflecting a growth of about 6.6%[12]. - The cash flow from operating activities generated a net amount of CNY 30,377,648.69, a significant improvement from a net outflow of CNY -137,801,328.86 in Q1 2022[22]. - Investment activities generated a net cash flow of CNY 32,507,637.84, compared to a net outflow of CNY 189,705,535.45 in the previous year[22]. - The cash and cash equivalents at the end of Q1 2023 amounted to CNY 995,491,641.57, an increase from CNY 837,895,232.10 at the end of Q1 2022[23]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4.64 billion, showing a slight decrease of 0.01% from the previous year[4]. - The total assets of the company as of March 31, 2023, were RMB 4,642,846,415.74, slightly down from RMB 4,643,373,119.97 at the end of 2022[15]. - Total liabilities decreased to RMB 1,280,556,480.57 as of March 31, 2023, from RMB 1,365,404,767.93 at the end of 2022, representing a reduction of approximately 6.2%[14]. - Shareholders' equity attributable to the parent company increased by 2.60% to ¥3.35 billion from ¥3.27 billion at the end of the previous year[4]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 11,988[9]. - The largest shareholder, Guomao Reducer Group Co., Ltd., holds 50.40% of the shares[10]. Government Support and Future Plans - The company received government subsidies amounting to ¥4.72 million, which are closely related to its normal business operations[6]. - The company plans to continue focusing on stable procurement and improving cash flow management in the future[7]. Operational Costs and Expenses - Total operating costs for Q1 2023 were RMB 536,522,179.34, slightly up from RMB 536,439,930.94 in Q1 2022, indicating a marginal increase[17]. - The company reported a decrease in financial expenses, with a net financial income of RMB -3,008,009.05 in Q1 2023 compared to RMB -1,381,706.77 in Q1 2022[17]. - The company continues to focus on research and development, with R&D expenses of RMB 34,891,726.06 in Q1 2023, slightly down from RMB 35,067,392.27 in Q1 2022[17]. - Accounts receivable increased to RMB 417,831,824.71 in Q1 2023 from RMB 258,824,912.75 in Q1 2022, showing a significant rise of approximately 61.5%[13]. - Inventory as of March 31, 2023, was RMB 601,012,421.32, up from RMB 585,331,355.13 at the end of 2022, indicating an increase of about 2.6%[13]. - The company incurred credit impairment losses of CNY -13,684,763.96, compared to CNY -10,364,408.90 in Q1 2022, indicating a deterioration in credit quality[18].

Financial Performance - In 2022, the company's operating revenue was approximately CNY 2.70 billion, a decrease of 8.41% compared to CNY 2.94 billion in 2021[22]. - The net profit attributable to shareholders was approximately CNY 413.90 million, down 10.42% from CNY 462.04 million in 2021[22]. - The basic earnings per share (EPS) for 2022 was CNY 0.63, reflecting an 11.27% decrease from CNY 0.71 in 2021[22]. - The weighted average return on equity (ROE) decreased by 3.55 percentage points to 13.32% in 2022 from 16.87% in 2021[22]. - The net cash flow from operating activities was approximately CNY 351.63 million, down 11.95% from CNY 399.34 million in 2021[22]. - As of the end of 2022, the total assets were approximately CNY 4.64 billion, a decrease of 1.38% from CNY 4.71 billion at the end of 2021[22]. - The net assets attributable to shareholders increased by 10.69% to approximately CNY 3.27 billion at the end of 2022, compared to CNY 2.95 billion at the end of 2021[22]. - The company's operating costs decreased by 7.93% to approximately CNY 1.98 billion from CNY 2.15 billion year-on-year[58]. - The revenue from gear reducers was ¥2,008,280,158.87, down 5.76% year-over-year, with a gross margin of 26.83%[61]. - The company's revenue from general equipment reached ¥2,667,422,366.80, a decrease of 8.42% compared to the previous year, with a gross margin of 26.04%[61]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.20 per share (including tax) based on the total share capital as of the dividend distribution registration date[4]. - The total cash dividend amount for the reporting period was 132,448,512 RMB, representing 32.00% of the net profit attributable to shareholders[127]. - The company distributed cash dividends of 141,969,720 RMB (including tax) for the 2021 fiscal year, accounting for 30.73% of the net profit attributable to shareholders[124]. - The board has approved a dividend payout of 0.5 per share, reflecting a commitment to returning value to shareholders[101]. Audit and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[7]. - The company’s financial report is guaranteed to be true, accurate, and complete by the board of directors and senior management[7]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties[8]. - The company has not violated any decision-making procedures regarding external guarantees[8]. - The company has not encountered any violations regarding guarantees during the reporting period[154]. - The company has not received any non-standard audit opinions from its accounting firm[154]. Corporate Governance - The company has implemented measures to enhance corporate governance and investor relations management[94]. - The company has not disclosed any significant differences in governance compared to regulatory requirements[94]. - The independent directors and supervisors have not made any shareholding changes during the reporting period[99]. - The company has established specialized committees under the board, including the audit committee, nomination committee, remuneration and assessment committee, and strategic development committee[113]. - The company did not have any dissenting opinions from the board members regarding company matters during the reporting period[113]. Research and Development - Research and development expenses increased by 6.40% to approximately CNY 119.73 million, compared to CNY 112.53 million in the previous year[58]. - The company has produced nearly 100,000 product models, making it one of the most diversified product lines in the domestic general reducer industry[53]. - The company holds 201 domestic patents, including 30 invention patents, demonstrating its strong technological capabilities[55]. - The company invested ¥119,734,730.93 in R&D, representing 4.44% of total revenue, with no capitalized R&D expenditures[68]. - The company is investing 50 million in R&D for new technologies aimed at enhancing product efficiency[101]. Market and Industry Trends - The company has a leading position in the domestic general reducer market, benefiting from industry consolidation and domestic substitution trends[51]. - The demand for reducers in the new energy lithium battery sector has rapidly increased, providing strong support for the company's performance[51]. - The gear reducer industry in China is projected to grow from a market size of 125.8 billion yuan in 2021 to 160.5 billion yuan by 2026, with a compound annual growth rate of 5%[43]. - The company’s main products, gear reducers, are widely used across various industries including environmental protection, construction, and logistics[46]. - The company’s modular gear reducers cover a power range of 0.12-200 kW, making them popular in the market[47]. Environmental Responsibility - The company has established an environmental protection mechanism and strictly adheres to national environmental laws and regulations, with no violations reported[135]. - The wastewater treatment capacity for general industrial wastewater is 60,000 tons per year, ensuring compliance with discharge standards[137]. - The company has implemented advanced waste gas treatment processes, including real-time monitoring systems, to ensure emissions meet regulatory standards[137]. - The company promotes green production practices and has achieved certifications for ISO9001, ISO45001, ISO14001, ISO50001, and ISO14064[136]. - The company has taken measures to reduce carbon emissions, including the purchase of advanced production equipment and promoting energy-efficient products[138]. Strategic Initiatives - The company plans to focus on high-quality development, targeting sectors such as new energy, logistics, and robotics for market expansion in 2023[88]. - The company aims to enhance its R&D capabilities and maintain high R&D investment to develop high-reliability, cost-effective products[88]. - The company is committed to digital transformation and improving operational efficiency through lean management practices[88]. - The company aims to strengthen its brand influence and expand into specialized fields such as engineering machinery and photovoltaic applications[87]. - The company anticipates that the competitive landscape will shift towards larger enterprises, leading to accelerated industry consolidation[86]. Shareholder Structure and Changes - The total number of shares increased from 473,232,400 to 662,242,560 due to a capital reserve conversion and stock incentive plans[178]. - The largest shareholder, Guomao Reducer Group Co., Ltd., holds 333,760,000 shares, representing 50.40% of the total shares[186]. - The top ten shareholders collectively hold a significant portion of the company's shares, with the top three alone accounting for over 66%[186]. - The company’s shareholder structure changed significantly with the release of previously restricted shares, impacting the liquidity of the stock[183]. - The company has a stock incentive plan with limited conditions, where the first two phases of restricted stock have been released for trading[189].

Financial Performance - The company's operating revenue for Q3 2022 was ¥686,898,539.30, a decrease of 11.60% compared to the same period last year[7]. - The net profit attributable to shareholders for Q3 2022 was ¥110,960,608.60, down 18.84% year-on-year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥102,082,709.25, reflecting a decline of 22.44% compared to the previous year[7]. - The basic earnings per share for Q3 2022 was ¥0.17, a decrease of 19.05% year-on-year[10]. - The diluted earnings per share for Q3 2022 was also ¥0.17, down 19.05% from the same period last year[10]. - Total operating revenue for the first three quarters of 2022 was ¥2,033,652,868.51, a decrease of 9.96% compared to ¥2,258,477,954.05 in the same period of 2021[35]. - Net profit for the first three quarters of 2022 was ¥289,535,779.41, a decline of 16.19% from ¥345,600,509.56 in the same period of 2021[38]. - The total profit for the first three quarters of 2022 was ¥323,094,196.89, down from ¥393,005,979.91 in 2021, a decrease of 17.77%[38]. Assets and Liabilities - Total assets at the end of Q3 2022 amounted to ¥4,575,244,651.73, a decrease of 2.83% from the end of the previous year[10]. - The company's current assets totaled CNY 2,950,520,426.65, down from CNY 3,196,711,111.91, indicating a decrease of about 7.7% year-over-year[25]. - The company's total liabilities decreased to CNY 1,427,346,261.01 from CNY 1,749,112,966.83, a decline of approximately 18.4%[31]. - The equity attributable to shareholders at the end of Q3 2022 was ¥3,139,200,936.87, an increase of 6.28% compared to the end of the previous year[10]. - The equity attributable to shareholders increased to CNY 3,139,200,936.87 from CNY 2,953,715,137.11, representing an increase of about 6.3%[31]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥153,243,371.93, reflecting a decrease of 11.16% year-on-year[10]. - Cash inflow from operating activities for the first three quarters of 2022 was ¥1,966,311,258.88, an increase from ¥1,904,514,853.65 in 2021, representing a growth of 3.24%[41]. - The net cash flow from operating activities was $153.24 million, a decrease of 11.1% compared to $172.50 million in the previous period[44]. - The total cash and cash equivalents at the end of the period stood at $781.58 million, compared to $681.54 million at the end of the previous period[46]. - The company reported a total cash outflow of $5.19 million, a significant improvement from -$416.99 million in the previous period[44]. Investments and Expenses - The company reported non-recurring gains of ¥8,877,899.35 for Q3 2022, with a total of ¥25,509,524.03 for the year-to-date[16]. - Research and development expenses increased to ¥90,563,904.22 in the first three quarters of 2022, up 10.66% from ¥81,814,225.76 in 2021[35]. - The company reported an investment income of ¥37,708,211.18 for the first three quarters of 2022, up from ¥33,993,531.15 in 2021, reflecting an increase of 10.06%[35]. - The cash paid to employees was $244.82 million, an increase from $232.34 million in the prior period[44]. - The cash paid for taxes was $147.95 million, up from $84.50 million year-over-year[44]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and product offerings[23].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,346,754,329.21, a decrease of 9.09% compared to ¥1,481,418,549.95 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥180,395,336.45, down 13.31% from ¥208,091,427.18 in the previous year[18]. - The net cash flow from operating activities was ¥12,817,359.97, a significant decline of 90.11% compared to ¥129,576,096.35 in the same period last year[18]. - The total assets at the end of the reporting period were ¥4,465,095,047.05, a decrease of 5.17% from ¥4,708,345,723.43 at the end of the previous year[18]. - Basic earnings per share for the first half of 2022 were ¥0.27, down 15.63% from ¥0.32 in the same period last year[20]. - The weighted average return on net assets decreased by 1.93 percentage points to 5.91% from 7.84% in the previous year[21]. - The company reported non-recurring gains and losses totaling 16,631,624.68 RMB, with a tax impact of 2,955,102.43 RMB[23]. - Net profit attributable to shareholders was ¥180,395,336.45, down 13.31% year-on-year, while the net profit excluding non-recurring gains and losses was ¥163,763,711.77, a decrease of 14.27% year-on-year[35]. - The total comprehensive income attributable to the parent company was CNY 180,208,563.34, a decrease from CNY 208,116,385.46 in the previous period, representing a decline of approximately 13.4%[123]. Assets and Liabilities - The total liabilities decreased to ¥1,451,615,408.63 from ¥1,749,112,966.83, a reduction of approximately 17.0%[115]. - Cash and cash equivalents at the end of the period reached ¥1,328,726,072.45, representing 29.76% of total assets, an increase of 65.98% compared to the previous year[44]. - The company’s total liabilities included a new lease liability of ¥893,542.02, a decrease of 39.71% from the previous period[44]. - The total amount of receivables financing decreased by 36.34% to ¥375,478,182.92, also due to lower collection rates[44]. - The company’s total foreign assets amounted to ¥1,327,055.47, accounting for 0.03% of total assets[46]. - Total current assets decreased to ¥2,865,639,900.48 from ¥3,196,711,111.91, a decline of approximately 10.3%[113]. - Total non-current assets increased to ¥1,599,455,146.57 from ¥1,511,634,611.52, reflecting a growth of about 5.7%[114]. - The company’s total owner's equity at the end of the reporting period was 2,662,589,082.32 RMB, with a significant increase from the previous period[147]. Market Position and Business Operations - The company’s main business is the research, production, and sales of gear reducers, which are essential components in various industries including construction, power, and logistics[25]. - The company is positioned as a leading enterprise in the domestic gear reducer market, leveraging its scale, brand, and product quality advantages[31]. - The company experienced a slight decline in revenue and profitability due to increased market competition and reduced downstream demand[31]. - The company has 82 A-class distributors, providing a stable and extensive sales network across most provinces in China[32]. - The company produced nearly 100,000 product models in 2021, showcasing its product diversification advantage in the general reducer sector[32]. - The company is actively expanding into specialized reducers and mechatronics, forming a business layout across eight major sectors[35]. - The company maintained its absolute leading advantage in the lithium battery slurry mixer market and expanded its customer base for lithium battery roller press equipment[37]. Research and Development - Research and development expenses increased by 27.71% to approximately CNY 66.53 million, reflecting the company's commitment to innovation[42]. - The company’s precision transmission subsidiary has a monthly production capacity of approximately 2,500 harmonic reducers, targeting the rapidly growing robotics market[37]. - The company successfully developed a subsea reducer for underwater propulsion machines, enhancing its product offerings for the environmental protection industry[35]. Shareholder and Compliance Matters - The company has committed to a 36-month lock-up period for shares held by major shareholders following the IPO, during which they will not transfer or manage these shares[69]. - Major shareholders are required to announce any planned share reductions 3 trading days in advance, with the sale price not to be lower than the adjusted IPO price[69]. - The company will take corrective actions if any commitments are violated, including compensating investors for direct losses[72]. - The company has established a framework for compliance with regulatory requirements regarding share transfers and commitments[72]. - Any violations of commitments will result in legal consequences and the obligation to rectify the situation within the specified timeframe[72]. Risks and Challenges - The company anticipates potential risks from global economic fluctuations and commodity price volatility, which may impact operational costs and profitability[52]. - The company plans to enhance market development efforts and strengthen customer communication to mitigate the impact of external risks[52]. - Risks associated with the implementation of fundraising investment projects include unforeseen factors that may delay project completion or yield lower-than-expected returns[54]. - Rapid growth in asset scale and operational performance presents management challenges, necessitating adjustments in organizational structure and processes[54]. Inventory and Procurement - The company has a significant inventory reduction of 87,405,600.00 RMB, which may indicate improved inventory management practices[149]. - The company guarantees that it will not illegally occupy the funds or assets of Guomao Co., Ltd. during the period of being the controlling shareholder and will minimize related party transactions[75]. - The procurement of castings from Changzhou Guotai Casting Co., Ltd. was expected to be 961.50 million CNY, with actual transactions of 392.50 million CNY in the first half[89]. Financial Management - The company reported a profit distribution of -118,136,850.00 RMB, indicating a loss allocation to shareholders[146]. - The capital reserve increased by 31,677,208.54 RMB during the reporting period, reflecting new capital contributions[146]. - The company has a total of 5,000,000.00 RMB in common stock contributions from owners, indicating continued investor confidence[141]. - The company reported a total of 1,240,430,366.30 RMB in other equity instruments, indicating diverse funding sources[147].

Dividend Distribution - The company plans to distribute a cash dividend of 0.30 RMB per share (including tax) and a stock bonus of 0.4 shares for every share held[6]. - The total share capital for the dividend distribution is based on the total shares registered on the equity distribution date[6]. - For the 2021 fiscal year, the company plans to distribute 3.00 CNY per 10 shares, totaling 141,969,720 CNY, representing 30.73% of the net profit attributable to shareholders[147]. Financial Performance - The company's operating revenue for 2021 was CNY 2,944,286,973.65, representing a 34.81% increase compared to CNY 2,184,076,489.85 in 2020[24]. - The net profit attributable to shareholders for 2021 was CNY 462,035,296.62, up 28.66% from CNY 359,127,084.55 in 2020[24]. - The net profit after deducting non-recurring gains and losses was CNY 424,243,363.69, reflecting a 32.10% increase from CNY 321,152,270.96 in 2020[24]. - The company's total assets at the end of 2021 reached CNY 4,708,345,723.43, a 17.62% increase from CNY 4,003,006,707.15 at the end of 2020[24]. - The basic earnings per share for 2021 was CNY 0.99, which is a 26.92% increase compared to CNY 0.78 in 2020[24]. - The weighted average return on equity for 2021 was 16.87%, an increase of 1.81 percentage points from 15.06% in 2020[24]. - The net cash flow from operating activities for 2021 was CNY 399,340,780.40, a slight decrease of 3.37% from CNY 413,261,426.17 in 2020[24]. - The company's net assets attributable to shareholders at the end of 2021 were CNY 2,953,715,137.11, marking a 16.60% increase from CNY 2,533,179,311.76 at the end of 2020[24]. Risk Management - The company reported no significant risks that could materially affect its operations during the reporting period[7]. - The company has outlined potential risk factors in the management discussion and analysis section of the report[7]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[7]. - The company has not violated any decision-making procedures regarding external guarantees[7]. - The company faces risks from macroeconomic fluctuations, trade tensions, and raw material price volatility, which could impact profitability[101]. Corporate Governance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[6]. - The board of directors and supervisory board members have all attended the board meeting, ensuring accountability for the report's accuracy[5]. - The company maintained strict compliance with corporate governance regulations, enhancing information disclosure and investor relations management[104]. - The company has not disclosed any significant differences in governance compared to regulatory requirements[104]. - The company has independent directors and supervisors with extensive experience in various industries, enhancing governance and oversight[122]. Research and Development - Research and development expenses increased by 43.74% to approximately CNY 112.53 million, indicating a focus on new product development[57]. - The company holds 164 domestic patents, including 25 invention patents, reflecting its commitment to innovation and technology advancement[53]. - The company has developed new gearbox products for high-altitude work platforms, directional drilling, and other applications, with a torque increase of over 20% for the upgraded SHE2 ultra-high torque series gearbox[75]. - The company is committed to increasing R&D investment, particularly in high-potential products, to maintain its competitive edge[98]. Market Expansion and Sales - The company is focused on optimizing its sales organization to better meet customer demands and support business growth[39]. - The company has established a strong marketing network with 78 A-class distributors, enhancing its market penetration across most provinces in China[53]. - The company is enhancing its marketing management capabilities, focusing on developing major clients in emerging and underdeveloped industries[98]. - The company's sales model includes direct sales to end customers and sales through distributors, with all sales being buyout sales[48]. Environmental Responsibility - The company emphasizes environmental responsibility and has made significant investments in safety and environmental protection measures during the reporting period[163]. - The company has established a general industrial wastewater treatment system with a capacity of 60,000 tons per year, effectively reducing COD levels before discharge[164]. - The nitrogen and phosphorus wastewater treatment system can handle 4,500 tons per year, ensuring compliance with local discharge standards[164]. - The company has been recognized as a "2021 Green Factory" by the Ministry of Industry and Information Technology, highlighting its commitment to sustainable practices[168]. Employee Welfare and Management - The company has a robust training program, offering various training sessions annually to meet departmental needs[144]. - The company has established a comprehensive salary and performance evaluation system, with total salary determined by key operational indicators[143]. - The company is focused on maintaining a balance between employee stability and performance-based remuneration[127]. - The company has strengthened its employee welfare programs, providing support for those facing economic difficulties due to health issues or accidents[171]. Future Outlook - Future outlook remains positive with ongoing investments in new product development and technology[113]. - The company aims to improve operational efficiency through strategic initiatives[113]. - The company has a clear strategy for future growth, focusing on market expansion and technological advancements[121]. - There are plans for potential mergers and acquisitions to drive growth and innovation[113].

Financial Performance - The company's operating revenue for Q1 2022 was ¥609,758,554.67, representing a decrease of 5.05% compared to the previous year[6] - Net profit attributable to shareholders was ¥64,698,754.72, down 18.55% year-over-year[6] - Basic earnings per share were ¥0.14, reflecting a decrease of 17.65%[6] - Total operating revenue for Q1 2022 was CNY 609.76 million, a decrease of 5.1% from CNY 642.20 million in Q1 2021[30] - Net profit for Q1 2022 was CNY 64.36 million, a decline of 19.1% compared to CNY 79.64 million in Q1 2021[31] - The company reported a total profit of CNY 69.05 million in Q1 2022, down 26% from CNY 93.28 million in Q1 2021[31] - Other comprehensive income after tax for Q1 2022 was CNY 20.96 million, compared to a loss of CNY 17.13 million in Q1 2021[34] Cash Flow - The net cash flow from operating activities was negative at ¥137,801,328.86, a significant decline of 873.82%[6] - The company reported a significant decline in cash flow due to delayed cash outflows related to procurement payments[12] - The net cash flow from operating activities was -137,801,328.86, a significant decrease compared to 17,807,858.10 from the previous period, indicating a decline in operational performance[38] - Cash inflow from investment activities totaled 403,733,557.84, up from 201,163,853.71, reflecting improved investment recovery[38] - The net cash flow from investment activities was 189,705,535.45, a recovery from a negative cash flow of -438,181,962.57 in the previous period, showing a positive turnaround in investment performance[38] - Cash outflow from operating activities increased to 731,108,452.00 from 566,698,795.55, indicating higher operational costs[38] - The cash received from other operating activities was 3,866,316.90, compared to 36,606,126.28, indicating a decline in other operational income[38] - The cash flow from financing activities was -798,859.00, reflecting a net outflow due to payments related to financing activities[40] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,493,094,312.00, a decrease of 4.57% from the previous year-end[8] - The company's current assets totaled RMB 2,948,672,617.74, down from RMB 3,196,711,111.91 year-over-year[23] - The total liabilities decreased to RMB 1,459,260,943.26 from RMB 1,749,112,966.83, representing a reduction of approximately 16.5%[26] - The total cash and cash equivalents at the end of the period were 837,895,232.10, an increase from 678,862,762.70, suggesting improved liquidity[40] Shareholder Equity - Shareholders' equity attributable to the parent company increased by 2.37% to ¥3,023,650,397.50[8] - The total equity attributable to shareholders of the parent company rose to CNY 3,023.65 million, an increase of 2.4% from CNY 2,953.72 million[30] Operational Metrics - The weighted average return on equity was 2.16%, a decrease of 0.92 percentage points[6] - R&D expenses increased significantly to CNY 35.07 million in Q1 2022, up 52% from CNY 23.08 million in Q1 2021[31] - The company has not disclosed any new product developments or market expansion strategies during this reporting period[19] Inventory and Receivables - Accounts receivable rose significantly to RMB 394,952,873.88, compared to RMB 254,666,496.65, marking an increase of about 55%[23] - Inventory levels were reported at RMB 731,804,697.91, slightly up from RMB 718,042,896.92, indicating a marginal increase[23] - The company reported a significant decrease in accounts payable, which fell to RMB 375,233,768.67 from RMB 436,627,852.07, a decline of about 14%[26]

Financial Performance - The company's operating revenue for Q3 2021 was ¥777,059,404.10, representing a year-on-year increase of 34.72%[7] - The net profit attributable to shareholders for Q3 2021 was ¥136,724,498.46, reflecting a year-on-year growth of 60.59%[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2021 was ¥131,612,534.12, up 68.68% year-on-year[11] - The basic earnings per share for Q3 2021 was ¥0.30, an increase of 66.67% compared to the same period last year[11] - Total operating revenue for the first three quarters of 2021 reached ¥2,258,477,954.05, a significant increase from ¥1,568,917,160.43 in the same period of 2020, representing a growth of approximately 44%[40] - Net profit for the third quarter of 2021 was ¥345,600,509.56, compared to ¥237,421,517.02 in the third quarter of 2020, reflecting an increase of about 45.5%[40] - The total comprehensive income for the third quarter of 2021 was ¥345,616,949.13, compared to ¥237,453,225.84 in the same quarter of 2020, indicating an increase of approximately 45.5%[42] Assets and Liabilities - The total assets at the end of Q3 2021 amounted to ¥4,649,909,627.75, a 16.16% increase from the end of the previous year[11] - The total liabilities as of the end of the reporting period amounted to ¥1,834,283,642.62, up from ¥1,462,663,860.89, marking an increase of about 25.4%[35] - The total equity attributable to shareholders of the parent company reached ¥2,807,677,866.71, compared to ¥2,533,179,311.76 in the previous year, showing an increase of approximately 10.8%[37] - Total liabilities amounted to approximately ¥1.46 billion, with current liabilities at ¥1.43 billion, reflecting a slight decrease from the previous period[53] - The total equity attributable to shareholders reached approximately ¥2.53 billion, with retained earnings of approximately ¥835.76 million[56] - Non-current liabilities totaled approximately ¥28.18 million, showing a decrease from the previous total of ¥31.08 million[53] Cash Flow - The company reported a net cash flow from operating activities of ¥172,502,510.84, which decreased by 16.34% year-on-year[11] - Cash inflow from operating activities for the first three quarters of 2021 reached ¥1,904,514,853.65, a 29.1% increase compared to ¥1,473,179,908.18 in the same period of 2020[45] - Cash outflow from operating activities totaled ¥1,732,012,342.81, up from ¥1,266,996,687.30 in the previous year, resulting in a net cash flow from operating activities of ¥172,502,510.84, down 16.3% from ¥206,183,220.88[45] - Cash inflow from investment activities was ¥1,469,725,924.07, a decrease of 21.7% from ¥1,876,605,596.81 in the prior year[48] - Net cash flow from investment activities was -¥478,586,250.24, compared to a positive cash flow of ¥294,010,559.56 in the same period last year[48] - Cash inflow from financing activities was ¥6,968,650.00, significantly lower than ¥87,405,600.00 in the previous year[48] - Net cash flow from financing activities was -¥110,918,246.03, compared to -¥24,755,210.69 in the same period of 2020[48] - The total cash and cash equivalents at the end of the period stood at ¥681,538,452.73, down from ¥1,033,243,102.44 at the end of the previous year[48] Shareholder Information - The company has a total of 8,519 common shareholders as of the end of the reporting period[18] - The largest shareholder, Guomao Reducer Group Co., Ltd., holds 50.38% of the shares, totaling 238,400,000 shares[18] - The total number of shares increased from 472,477,400 to 473,232,400 following the completion of the restricted stock grant[26] Research and Development - Research and development expenses increased to ¥81,814,225.76 in Q3 2021 from ¥56,858,331.83 in Q3 2020, indicating a rise of approximately 43.9%[40] Future Outlook - The company expects continued growth driven by strong economic recovery and effective cost control measures[17] - The company plans to enhance its market expansion strategies and invest in new product development to drive future growth[49] - Future outlook remains cautiously optimistic, with a focus on maintaining equity levels and managing liabilities effectively[56] Other Information - The company completed the grant of 755,000 restricted stock units to 37 eligible participants as part of its 2020 incentive plan[26] - The company has implemented new leasing standards effective from January 1, 2021, impacting financial reporting[56] - The company has not disclosed any new product launches or technological advancements in this report[55]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥1,481,418,549.95, representing a 49.32% increase compared to ¥992,118,486.27 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was ¥208,091,427.18, up 37.28% from ¥151,578,456.45 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was ¥191,012,763.40, reflecting a 43.97% increase from ¥132,671,749.83 year-on-year[22]. - Basic earnings per share for the first half of 2021 were ¥0.45, a 36.36% increase from ¥0.33 in the same period last year[25]. - The diluted earnings per share also stood at ¥0.45, reflecting a 36.36% increase compared to ¥0.33 in the previous year[25]. - The weighted average return on net assets increased by 1.29 percentage points to 7.84% from 6.55% year-on-year[25]. - The company reported a net profit margin improvement, with net profit for the first half of 2021 expected to reflect the increased revenue and controlled costs[154]. - The total profit for the first half of 2021 was ¥238,267,821.99, compared to ¥175,248,313.74 in the first half of 2020, reflecting a significant growth[158]. Cash Flow and Assets - The net cash flow from operating activities decreased by 13.87% to ¥129,576,096.35 from ¥150,436,000.23 in the same period last year[22]. - The company's cash flow from operating activities decreased by 13.87% to ¥129,576,096.35 from ¥150,436,000.23[47]. - The total cash inflow from operating activities for the first half of 2021 was approximately CNY 1,292,838,474.37, an increase from CNY 994,767,030.09 in the same period of 2020, representing a growth of about 30%[167]. - The ending balance of cash and cash equivalents as of June 30, 2021, was CNY 1,317,814,796.22, up from CNY 771,907,439.93 at the end of June 2020, representing an increase of approximately 71%[172]. - The company's total assets increased to CNY 2,662,589,082.32, reflecting growth in overall financial position[187]. - The company's non-current assets totaled CNY 1,388,616,123.00, up from CNY 1,075,120,371.01, reflecting a growth of 29.1%[143]. - Total assets reached CNY 4,434,666,687.65, representing an increase of 10.8% compared to CNY 4,003,006,707.15 at the end of 2020[145]. Investments and R&D - Research and development expenses rose by 54.34% to ¥52,096,042.54 from ¥33,754,683.80, reflecting the company's increased investment in R&D[47]. - The company has been recognized as a high-tech enterprise and has obtained 28 authorized patents in the first half of 2021, including 5 invention patents[40]. - The company introduced a new high-torque gearbox series with a torque increase of over 20% compared to the previous model, enhancing product competitiveness[44]. - The company has made significant progress in lean production initiatives, with 69 improvement projects rewarded during the reporting period[44]. Market Position and Demand - The company is positioned as a leading player in the domestic gear reducer market, benefiting from industry consolidation and increased market share[37]. - The company has seen a significant increase in demand for gear reducers due to high market activity in sectors like new energy and environmental protection, contributing to sales growth[37]. - The manufacturing investment in China grew by 19.2% year-on-year in the first half of 2021, indicating a positive trend for the gear reducer market[37]. - The company has a stable network of 78 A-class distributors, covering most provinces in China, enhancing market penetration and customer service responsiveness[38]. Risks and Compliance - The company did not report any significant risks that could materially affect its operations during the reporting period[10]. - The company faces risks from macroeconomic fluctuations, raw material price volatility, and potential product price fluctuations impacting profitability[59]. - The company has established strict compliance with environmental laws and has not faced any administrative penalties for environmental issues during the reporting period[71]. - The company has implemented a comprehensive environmental management plan based on the ISO14001 system, focusing on energy conservation and pollution reduction[72]. Shareholder and Capital Structure - The company reported a total of 6,209.00 million CNY in related party transactions for the first half of 2021, with actual transactions amounting to 3,027.05 million CNY[113]. - The company completed the repurchase and transfer of 70,000 restricted shares, reducing total shares from 472,547,400 to 472,477,400[124]. - The total number of common shareholders at the end of the reporting period was 8,955[125]. - The largest shareholder, Guomao Reducer Group Co., Ltd., held 238,400,000 shares, with no changes during the reporting period[128]. - The company has committed to reducing procurement amounts from Changzhou Guotai Casting Co., Ltd. by no less than 20% year-on-year since April 16, 2018[88].