经核查独立董事黄益建先生、吕丹丹女士、陈伟华先生的任职经历以及签署 的相关自查文件，在任独立董事未在公司担任除独立董事以外的任何职务，也未 在公司主要股东公司担任任何职务，未持有公司股份，与公司以及主要股东之间 不存在利害关系或其他可能妨碍其进行独立客观判断的关系，符合《上市公司独 立董事管理办法》、《上海证券交易所上市公司自律监管指引第 1 号——规范运作》 中对独立董事独立性的相关要求。 中电电机股份有限公司董事会 2024 年 3 月 29 日 中电电机股份有限公司 董事会关于独立董事独立性的评估报告 根据证监会《上市公司独立董事管理办法》、上海证券交易所《股票上市规 则》 《上市公司自律监管指引第 1 号——规范运作》等要求，中电电机股份有限公司 （以下简称"公司"）董事会，就公司在任职独立董事黄益建先生、吕丹丹女士、 陈伟华先生的独立性情况进行评估并出具如下专项意见： ...

公司代码：603988 公司简称：中电电机 中电电机股份有限公司 2023 年度内部控制评价报告 中电电机股份有限公司全体股东： 根据《企业内部控制基本规范》及其配套指引的规定和其他内部控制监管要求（以下简称企业内部 控制规范体系），结合本公司（以下简称公司）内部控制制度和评价办法，在内部控制日常监督和专项 监督的基础上，我们对公司2023年12月31日（内部控制评价报告基准日）的内部控制有效性进行了评价。 一. 重要声明 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其有效性，并如实披露内 部控制评价报告是公司董事会的责任。监事会对董事会建立和实施内部控制进行监督。经理层负责组织 领导企业内部控制的日常运行。公司董事会、监事会及董事、监事、高级管理人员保证本报告内容不存 在任何虚假记载、误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完整性承担个别及连带法 律责任。 公司内部控制的目标是合理保证经营管理合法合规、资产安全、财务报告及相关信息真实完整，提 高经营效率和效果，促进实现发展战略。由于内部控制存在的固有局限性，故仅能为实现上述目标提供 合理保证。此外，由于情况的变化可能导致内部 ...

Financial Performance - The company's operating revenue for Q3 2023 was ¥175,695,857.96, representing a year-on-year increase of 5.67%[6] - The net profit attributable to shareholders for Q3 2023 was ¥2,786,338.71, a decrease of 40.45% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥8,066,405.57, showing a significant increase of 5,719.60% year-on-year[6] - The basic earnings per share for Q3 2023 was ¥0.01, down 50.00% from the previous year[7] - The company reported a decrease in total profit for the year-to-date of 58.23%, primarily due to reduced revenue and increased credit impairment losses[12] - The company experienced a 67.13% decline in net profit attributable to shareholders for the year-to-date, totaling ¥13,088,821.64[6] - Total operating revenue for the first three quarters of 2023 was CNY 527,972,017.92, a decrease of 5.1% compared to CNY 556,433,870.03 in the same period of 2022[22] - Net profit for the third quarter of 2023 was CNY 13,088,821.64, a significant decline of 67.1% from CNY 39,820,201.55 in the same quarter of 2022[24] - The company reported a total comprehensive income of CNY 13,088,821.64 for the third quarter of 2023, down from CNY 39,820,201.55 in the same quarter of 2022[24] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,077,554,696.72, reflecting a decrease of 8.58% compared to the end of the previous year[7] - Total current assets as of September 30, 2023, amounted to CNY 914,884,032.19, a decrease from CNY 1,007,693,123.61 at the end of 2022, reflecting a decline of approximately 9.2%[17] - Accounts receivable decreased to CNY 297,537,357.09 from CNY 361,471,791.86, representing a reduction of about 17.7%[18] - Inventory decreased to CNY 309,649,989.11 from CNY 347,492,729.44, indicating a decline of approximately 10.9%[18] - Total liabilities decreased to CNY 441,674,232.89 from CNY 545,385,638.77, a reduction of about 19%[19] - The company reported a significant decrease in short-term borrowings, with total current liabilities amounting to CNY 404,057,364.29, down from CNY 507,441,979.32, a decline of approximately 20.4%[19] - The total assets as of September 30, 2023, were CNY 1,077,554,696.72, down from CNY 1,178,696,735.40, reflecting a decrease of about 8.6%[18] - The company’s total liabilities and equity amounted to CNY 1,077,554,696.72 as of the end of the third quarter of 2023[20] Cash Flow - The cash flow from operating activities for the year-to-date was -¥695,654.98, indicating a significant cash outflow[7] - Cash flow from operating activities for the first three quarters of 2023 showed a net outflow of CNY 695,654.98, compared to a net outflow of CNY 17,818,389.86 in the same period of 2022[27] - The net cash flow from investing activities was $13,623,546.03, a decrease from $21,614,792.82 in the previous period[28] - The total cash outflow from financing activities was $15,482,281.64, compared to $13,288,799.90 previously[28] - The net cash flow from financing activities was -$15,482,281.64, indicating a negative cash flow compared to -$13,288,799.90 in the prior period[28] - The impact of exchange rate changes on cash and cash equivalents was -$305,646.51, compared to -$60,007.41 previously[28] - The net increase in cash and cash equivalents was -$2,860,037.10, a decline from -$9,552,404.35 in the previous period[28] - The ending balance of cash and cash equivalents was $21,682,116.58, down from $33,813,554.54 at the beginning of the period[28] Equity and Investments - The company’s total equity remained stable at CNY 235,200,000.00, unchanged from the previous period[19] - The company’s total equity attributable to shareholders was CNY 635,880,463.83, an increase from CNY 633,311,096.63 in the previous reporting period[20] - Research and development expenses increased to CNY 20,557,171.68 in the first three quarters of 2023, up from CNY 16,561,819.30 in the same period of 2022, representing a growth of 24.0%[22] - The company’s cash and cash equivalents increased slightly to CNY 59,826,195.87 from CNY 59,238,580.59, showing a marginal increase of about 1%[17] - The company’s contract liabilities decreased to CNY 82,080,717.50 from CNY 86,994,926.00, a decline of approximately 5.5%[19] - The company’s expected liabilities increased to CNY 36,516,539.10 from CNY 31,268,298.01, an increase of about 16.0%[19]

Financial Performance - The company's operating revenue for the first half of 2023 was CNY 352,276,159.96, a decrease of 9.71% compared to CNY 390,163,548.32 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 10,302,482.93, down 70.68% from CNY 35,140,986.35 year-on-year[19]. - Basic earnings per share for the first half of 2023 were CNY 0.04, a decrease of 73.33% compared to CNY 0.15 in the same period last year[20]. - The weighted average return on net assets decreased by 4.16 percentage points to 1.61% from 5.77% in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 9.10 million yuan, a decrease of 20.89 million yuan or 69.65% year-on-year[27]. - The decline in net profit was primarily due to a reduction in orders and a decrease in the power of ordered motors, leading to lower operating revenue and gross margin[27]. - The company reported a significant increase in its fair value change income, which rose by 115.41% to ¥1,406,716.80, attributed to the appreciation of equity investments[35]. - The comprehensive income for the current period is CNY 8,651,423.29, compared to CNY 25,278,336.80 in the same period last year, indicating a decrease of approximately 65.7%[120][123]. Cash Flow and Liquidity - The net cash flow from operating activities increased significantly to CNY 17,561,484.16, compared to a negative cash flow of CNY -19,390,071.37 in the previous year, marking a 190.57% improvement[19]. - The company's cash and cash equivalents increased by 70.37% to ¥100,923,753.68, primarily due to increased sales revenue[38]. - The accounts receivable decreased by 5.19% to ¥342,695,530.21, reflecting improved cash collection efforts[38]. - The company reported a total cash balance of CNY 100,923,753.68 at the end of the period, up from CNY 59,238,580.59 at the beginning of the period, indicating a significant increase in liquidity[199]. - The company generated RMB 443,507,605.97 in cash inflows from operating activities, compared to RMB 390,428,139.80 in the same period of 2022[99]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,151,050,027.35, a decrease of 2.35% from CNY 1,178,696,735.40 at the end of the previous year[19]. - Total liabilities decreased by 7.76% to CNY 503,047,841.38 from CNY 545,385,638.77[39]. - The net assets attributable to shareholders of the listed company increased by 2.32% to CNY 648,002,185.97 from CNY 633,311,096.63 at the end of the previous year[19]. - The company's total equity attributable to shareholders was CNY 633.31 million at the end of the reporting period[106]. Research and Development - The company holds 79 valid patents, including 54 invention patents and 25 utility model patents, enhancing its technological advantage[28]. - The company is focusing on the R&D of a new series of high-efficiency, compact, lightweight high-voltage asynchronous motors to fill gaps in its product line[28]. - Research and development expenses for the first half of 2023 were CNY 13,730,660.57, an increase from CNY 11,011,768.57 in the same period of 2022[92]. - The company has allocated CNY 2.0 million for research and development in the first half of 2023, which is crucial for innovation and competitiveness[116]. Market Strategy and Expansion - The company has expanded its overseas business, with products sold in over 30 countries and regions, establishing a strong brand image in the industry[31]. - The company plans to expand its market presence in Asia, targeting a 10% market share increase by the end of 2024[63]. - The company is focusing on diversifying market development and accelerating capital turnover to adapt to new economic conditions[32]. - The company plans to focus on market expansion and new product development as part of its future strategy[91]. - The future outlook remains positive, with projected revenue growth of 20% for the second half of 2023 based on current market trends and demand[117]. Compliance and Governance - The management team emphasized the importance of compliance with regulatory requirements to safeguard the company's operational integrity and reputation[63]. - The company has not reported any significant changes in accounting policies or prior period error corrections during the current reporting period[120]. - The company is not classified as a key pollutant discharge unit and has met environmental monitoring standards during the reporting period[56]. - The company received an administrative penalty of RMB 210,000 for violations related to environmental protection during the construction of a high-efficiency motor expansion project[57]. Risks and Challenges - The company faced challenges due to a decrease in operating revenue, increased costs, and changes in credit impairment losses[20]. - The company is facing risks from fluctuating raw material prices, despite a decrease in average procurement prices[45]. - The company will monitor exchange rate fluctuations closely to manage foreign exchange risks effectively[47]. Corporate Structure and Shareholder Information - The annual shareholders' meeting had 17 participants representing 89,919,954 shares, accounting for 49.3956% of the total voting shares[52]. - There were no changes in the company's board, supervisors, or senior management during the reporting period[53]. - The total number of shares and capital structure of the company remained unchanged during the reporting period[73]. - The top ten shareholders hold a total of 55,202,000 shares, accounting for 23.47% of the total shares[76].

Financial Performance - The company's operating revenue for Q1 2023 was ¥181,324,785.24, representing a decrease of 6.44% compared to the same period last year[6]. - The net profit attributable to shareholders was ¥3,574,635.45, down 73.37% year-on-year[6]. - The basic earnings per share decreased by 66.67% to ¥0.02[7]. - The weighted average return on equity was 0.56%, a decrease of 1.68 percentage points compared to the previous year[7]. - The company reported a net loss for Q1 2023, with total costs exceeding total revenue, indicating challenges in profitability[21]. - In Q1 2023, the company's net profit was CNY 3,574,635.45, a decrease of 73.4% compared to CNY 13,423,371.45 in Q1 2022[22]. - The operating profit for Q1 2023 was CNY 3,950,043.87, down 80% from CNY 19,782,585.29 in the same period last year[22]. - The total comprehensive income for Q1 2023 was CNY 3,574,635.45, a decrease of 73.4% from CNY 13,423,371.45 in Q1 2022[23]. Cash Flow and Liquidity - The net cash flow from operating activities was ¥233,992.69, showing a significant increase of 100.41% year-on-year[11]. - Cash flow from operating activities in Q1 2023 was CNY 233,992.69, a significant improvement from a negative cash flow of CNY -56,937,654.78 in Q1 2022[26]. - Total cash and cash equivalents at the end of Q1 2023 increased to CNY 29,562,047.08, compared to CNY 20,874,562.64 at the end of Q1 2022[27]. - The company reported cash inflows from operating activities of CNY 194,951,777.85 in Q1 2023, up from CNY 178,491,065.50 in Q1 2022[25]. - Cash and cash equivalents as of March 31, 2023, were RMB 74,432,583.40, up from RMB 59,238,580.59 as of December 31, 2022, indicating improved liquidity[16]. Expenses and Costs - Total operating costs for Q1 2023 were RMB 182,775,716.78, an increase of 3.9% from RMB 176,674,822.92 in Q1 2022[21]. - Research and development expenses increased by 163.82%, primarily due to an increase in R&D personnel and investment[11]. - Research and development expenses in Q1 2023 amounted to RMB 7,615,048.57, significantly up from RMB 2,886,461.38 in Q1 2022, reflecting a focus on innovation[21]. - The company incurred financial expenses of CNY -845,057.20 in Q1 2023, compared to CNY 1,321,605.63 in Q1 2022[22]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,188,917,416.10, an increase of 0.87% from the end of the previous year[7]. - Total assets as of March 31, 2023, were RMB 1,188,917,416.10, compared to RMB 1,178,696,735.40 at the end of 2022, showing a stable asset base[19]. - Total liabilities as of March 31, 2023, were RMB 547,975,763.74, slightly up from RMB 545,385,638.77 at the end of 2022, reflecting stable financial obligations[18]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 19,779[12]. - The top shareholder, Ningbo JunTuo Enterprise Management Co., Ltd., held 23.47% of the shares, totaling 55,202,000 shares[13]. Future Outlook - The company plans to enhance its market expansion strategies and invest further in new product development to drive future growth[21].

Financial Performance - The company's operating revenue for 2022 was CNY 859,944,778.55, representing a 4.95% increase compared to CNY 819,358,116.04 in 2021[23]. - The net profit attributable to shareholders for 2022 was CNY 50,224,195.20, a 19.50% increase from CNY 42,030,076.36 in 2021[23]. - The basic earnings per share for 2022 was CNY 0.22, up 29.41% from CNY 0.17 in 2021[24]. - The gross profit margin decreased from 26.43% in 2021 to 25.79%, a reduction of 0.64 percentage points[44]. - The company achieved operating revenue of 859.94 million yuan, an increase of 40.59 million yuan, or 4.95% year-on-year[44]. - The net profit attributable to shareholders was 51.58 million yuan, an increase of 11.65 million yuan, or 29.16% year-on-year[44]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in 2022, representing a 20% growth compared to the previous year[95]. - The company provided guidance for the next fiscal year, projecting a revenue increase of 25%, aiming for 1.875 billion[97]. Cash Flow and Assets - The net cash flow from operating activities for 2022 was CNY -40,687,961.86, a significant decrease compared to CNY -10,713,890.86 in 2021, reflecting a decline of 279.77%[23]. - The total assets at the end of 2022 were CNY 1,178,696,735.40, a decrease of 2.4% from CNY 1,207,643,700.89 at the end of 2021[23]. - Cash and cash equivalents decreased by 45.20% to ¥59,238,580.59 due to increased production expenditures[63]. - The company’s cash flow from investment activities decreased by 78.64% to CNY 40,726,002.30, primarily due to reduced investment in financial products[47]. - The company reported a significant increase in sales cash inflow to RMB 703,125,880.38 in 2022, compared to RMB 494,693,067.26 in 2021, marking a growth of 42.3%[199]. Research and Development - Research and development expenses increased by 28.37% to CNY 34,429,106.30[55]. - The company is focusing on R&D for new products, including wind power generators and energy storage systems, to expand its product line[40]. - The company employed 101 R&D personnel, accounting for 10.7% of the total workforce[58]. - Research and development investments increased by 30%, totaling 150 million, to drive innovation in product offerings[95]. Market and Industry Outlook - The overall economic environment in 2022 was challenging, with a GDP growth of 3% and industrial production increasing by 3.6%[34]. - The industry is experiencing a recovery since June 2022, with a government initiative aiming for 70% of new efficient energy-saving motors by 2025, presenting growth opportunities[66]. - The domestic motor industry is expected to see a continuous increase in the penetration rate of high-efficiency motors, particularly in metallurgy, power, and petrochemical sectors[76]. - The wind power sector is anticipated to grow significantly, with a focus on large-capacity wind turbines and a shift towards offshore wind energy development[77]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder rights and interests[85]. - The board of directors consists of 7 members, including 3 independent directors, and adheres to established election procedures and training requirements[85]. - The company has implemented a risk control mechanism that has been assessed as effective, with no significant defects identified in its internal control systems[87]. - The company received a public reprimand from the Shanghai Stock Exchange due to delays in disclosing significant progress and risk warnings related to restructuring transactions[103]. Shareholder Information - The total number of ordinary shareholders increased from 19,779 to 21,254 during the reporting period, representing an increase of approximately 7.4%[159]. - The top ten shareholders hold a total of 55,202,000 shares, accounting for 23.47% of the total shares outstanding[161]. - The company does not have any controlling shareholder or actual controller, as the largest shareholder operates as a limited partnership without a defined controlling entity[165]. Operational Efficiency - The company focused on enhancing product quality and optimizing mechanisms to improve production efficiency and market competitiveness[35]. - Operational efficiency improvements are projected to reduce costs by 5%, translating to savings of approximately 50 million annually[96]. - The company is accelerating its digital transformation in smart manufacturing to reduce reliance on labor and enhance production and profitability capabilities[81].

Financial Performance - The company's operating revenue for Q3 2022 was ¥166,270,321.71, a decrease of 19.40% compared to the same period last year[6] - The net profit attributable to shareholders for Q3 2022 was ¥4,679,215.20, an increase of 112.12% year-on-year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥138,607.48, a decrease of 96.49% compared to the same period last year[6] - The basic earnings per share for Q3 2022 was ¥0.02, reflecting a 112.12% increase year-on-year[7] - Operating profit for the third quarter of 2022 was ¥33,420,731.94, significantly higher than ¥13,823,823.70 in the same quarter of 2021, indicating a year-over-year increase of about 142.5%[22] - Net profit for the third quarter of 2022 was ¥39,820,201.55, compared to ¥10,753,596.25 in the same quarter of 2021, representing an increase of approximately 270.5%[23] - Basic and diluted earnings per share for the third quarter of 2022 were both ¥0.17, up from ¥0.05 in the same quarter of 2021[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,161,326,194.11, a decrease of 3.84% from the end of the previous year[7] - The owner's equity attributable to shareholders at the end of the reporting period was ¥618,359,465.66, an increase of 4.50% compared to the end of the previous year[7] - The total liabilities decreased to ¥542,966,728.45 from ¥615,909,635.12, a decrease of approximately 11.8%[18] - The total current liabilities decreased to ¥511,758,995.43 from ¥580,289,878.44, a decrease of about 11.8%[18] - The total assets as of September 30, 2022, were ¥1,161,326,194.11, down from ¥1,207,643,700.89, indicating a decline of approximately 3.8%[19] - The company reported a total equity of ¥618,359,465.66, up from ¥591,734,065.77, reflecting an increase of about 4.5%[19] Cash Flow - The cash flow from operating activities for the year-to-date was -¥17,818,389.86, a decrease of 160.60% compared to the same period last year[7] - Cash flow from operating activities for the first three quarters of 2022 was negative at -¥17,818,389.86, a decline from a positive cash flow of ¥29,400,982.93 in the same period of 2021[25] - Cash received from sales of goods and services in the first three quarters of 2022 was ¥524,882,079.87, compared to ¥391,798,041.58 in 2021, marking an increase of approximately 34%[25] - Total cash outflow from operating activities in the first three quarters of 2022 was ¥566,852,782.03, up from ¥375,590,430.37 in 2021, indicating a rise of about 51%[25] - The cash and cash equivalents at the end of the period amounted to 33,813,554.54, down from 69,863,665.39 at the beginning of the period[26] - The net increase in cash and cash equivalents was -9,552,404.35, contrasting with an increase of 1,505,240.28 in the previous period[26] - The impact of exchange rate changes on cash and cash equivalents was -60,007.41, compared to a positive impact of 2,508,767.98 previously[26] Investments and Expenses - The company reported a significant increase in investment income for the year-to-date, primarily due to a reduction in debt restructuring losses compared to the previous year[11] - The company received government subsidies amounting to ¥20,000.00 during the reporting period, contributing to non-recurring gains[9] - The company reported a significant increase in research and development expenses, totaling ¥16,561,819.30 for the first three quarters of 2022, compared to ¥16,789,592.43 in 2021, indicating a focus on innovation despite a slight decrease[21] - Investment cash inflow for the first three quarters of 2022 was ¥112,755,854.76, down from ¥261,784,839.37 in 2021, reflecting a decrease of approximately 56.9%[25] - The net cash flow from investing activities was 21,614,792.82, a decrease from 176,571,489.37 in the previous period[26] Shareholder Information - The total number of ordinary shares at the end of the reporting period was 22,351[14] - The top shareholder, Ningbo JunTuo Enterprise Management Co., Ltd., holds 55,202,000 shares, accounting for 23.47% of total shares[15] Inventory and Receivables - Accounts receivable decreased to ¥245,037,979.39 from ¥323,128,407.22, a reduction of about 24.2%[17] - Inventory increased to ¥390,007,035.49 from ¥336,414,937.33, reflecting an increase of approximately 15.9%[17]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 390,163,548.32, representing an increase of 11.70% compared to CNY 349,283,807.12 in the same period last year[18]. - The net profit attributable to shareholders of the listed company decreased by 28.81% to CNY 35,140,986.35 from CNY 49,365,018.55 year-on-year[18]. - The net cash flow from operating activities was negative at CNY -19,390,071.37, a significant decline from CNY 438,210.66 in the previous year, marking a decrease of 4,524.83%[18]. - Basic earnings per share decreased by 28.57% to CNY 0.15 from CNY 0.21 in the same period last year[19]. - The weighted average return on net assets decreased by 0.55 percentage points to 5.77% from 6.32% year-on-year[19]. - The company reported a total profit for the first half of 2022 of ¥33,872,429.40, down from ¥49,748,274.09 in the first half of 2021, reflecting overall profitability challenges[98]. - The total comprehensive income for the first half of 2022 was CNY 2,278,331.0, a decrease of CNY 159,998,053.9 compared to the previous period[118]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,134,043,561.76, down 6.09% from CNY 1,207,643,700.89 at the end of the previous year[18]. - Total liabilities decreased by 15.49% to CNY 520,511,489.47, accounting for 45.90% of total assets[42]. - Owner's equity increased by 3.68% to CNY 613,532,072.29, representing 54.10% of total assets[42]. - Cash and cash equivalents decreased by 17.52% to CNY 89,164,496.73, accounting for 7.86% of total assets[41]. - Accounts receivable decreased by 18.38% to CNY 263,749,790.58, representing 23.26% of total assets[41]. - Inventory increased by 8.39% to CNY 364,654,653.13, making up 32.16% of total assets[41]. Operational Strategies - The company has not disclosed any plans for new products, technologies, market expansion, or mergers and acquisitions in this report[5]. - The company has actively adjusted its operational strategies in response to challenges such as high raw material prices and supply chain disruptions due to the pandemic[32]. - The company aims to expand into emerging markets while stabilizing its traditional markets, particularly in the hydropower sector[33]. - The company is focusing on optimizing supplier management and accelerating digital transformation to enhance production capacity and profitability[49]. Research and Development - The company holds a total of 66 valid patents, including 54 invention patents and 12 utility model patents, reflecting its commitment to technological innovation[27]. - The company is focused on enhancing its research and development capabilities, particularly in high-efficiency and energy-saving motors[29]. - Research and development expenses were ¥11,011,768.57, slightly up from ¥10,988,343.48 in the previous year, indicating continued investment in innovation[97]. Financial Management - The company reported a credit impairment loss of ¥7,414,654.12, compared to a gain of ¥5,748,493.65 in the previous year, indicating potential challenges in asset quality[98]. - The company has committed to ensuring that its operations remain independent and will not engage in any competitive activities with the listed company post-acquisition[64]. - The company guarantees the independence of its financial accounting department and will maintain separate bank accounts from its affiliates[65]. Market Position and Competition - The company ranked ninth in the economic efficiency comprehensive index among peers in the small and medium-sized motor industry according to the China Electrical Equipment Industry Association[26]. - The company is exploring potential mergers and acquisitions to strengthen its market position[117]. - The company is facing increased risks in overseas operations due to the pandemic and geopolitical changes, prompting a focus on localizing operations to mitigate risks[50]. Cash Flow Management - The net cash flow from operating activities for the first half of 2022 was -4,453,721.58 RMB, a decrease from 37,424,890.76 RMB in the same period of 2021[108]. - Total cash inflow from operating activities was 393,991,501.99 RMB, compared to 266,054,598.09 RMB in the first half of 2021, representing an increase of approximately 48%[108]. - Cash outflow from operating activities increased to 398,445,223.57 RMB from 228,629,707.33 RMB, indicating a significant rise in operational expenses[108]. Compliance and Governance - The financial statements were prepared based on the going concern principle, indicating no significant doubts about the company's ability to continue operations[132]. - The company adheres to specific accounting policies for financial instruments, fixed asset depreciation, and revenue recognition, ensuring compliance with accounting standards[133]. - The company recognizes lease liabilities at the present value of unpaid lease payments, using the interest rate implicit in the lease or the company's incremental borrowing rate[180].

Financial Performance - The company's operating revenue for Q1 2022 was ¥193,802,831.21, representing a year-on-year increase of 36.47%[6] - The net profit attributable to shareholders decreased by 75.44% to ¥13,423,371.45 compared to the same period last year[6] - The basic earnings per share (EPS) was ¥0.06, down 73.91% year-on-year[6] - The total profit decreased by 69.76% primarily due to a reduction in the fair value change income from equity investments compared to the previous year[8] - Net profit for Q1 2022 was CNY 13,423,371.45, a decrease of 75.7% from CNY 54,646,892.08 in Q1 2021[19] - Earnings per share for Q1 2022 was CNY 0.06, down from CNY 0.23 in Q1 2021[19] Cash Flow - The net cash flow from operating activities was negative at -¥56,937,654.78, a decrease of 834.34% compared to the previous year[6] - Cash inflow from operating activities in Q1 2022 was $178,491,065.50, a significant increase of 84.3% compared to $96,957,325.15 in Q1 2021[21] - Net cash outflow from operating activities in Q1 2022 was -$56,937,654.78, worsening from -$6,093,861.45 in Q1 2021[21] - Total cash outflow for operating activities in Q1 2022 was $235,428,720.28, compared to $103,051,186.60 in Q1 2021, indicating increased operational expenses[21] - Cash received from other operating activities in Q1 2022 was $24,214,817.53, a significant increase from $1,969,563.30 in Q1 2021[21] - Cash paid for employee compensation in Q1 2022 was $44,747,600.16, up from $36,002,787.08 in Q1 2021, reflecting higher payroll expenses[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,168,338,735.60, down 3.25% from the end of the previous year[7] - Total liabilities decreased to CNY 563,235,478.31 in Q1 2022 from CNY 615,909,635.12 in Q1 2021, a reduction of 8.5%[17] - Total equity increased to CNY 605,103,257.29 in Q1 2022 from CNY 591,734,065.77 in Q1 2021, an increase of 2.2%[17] - The company reported a total asset value of RMB 1,168,338,735.60 as of March 31, 2022, down from RMB 1,207,643,700.89 at the end of 2021, a decrease of approximately 3.2%[15] Research and Development - Research and development expenses decreased by 35.17% compared to the same period last year[8] - Research and development expenses for Q1 2022 were CNY 2,886,461.38, down 35.3% from CNY 4,452,665.06 in Q1 2021[17] - The company has not disclosed any new product or technology developments in this reporting period[12] Shareholder Information - Total number of common stock shareholders at the end of the reporting period was 21,703[10] - The top three shareholders hold a combined 60.42% of the shares, with Ningbo JunTuo Enterprise Management Co., Ltd. holding 23.47%, Wang Jianyu 21.50%, and Wang Jiankai 15.45%[10] Investment Activities - Investment income increased significantly by 864.71% due to the redemption of investment products and interest settlement[8] - Cash inflow from investment activities in Q1 2022 was $34,607,936.98, compared to $6,074,680.43 in Q1 2021, marking a substantial increase[22] - Net cash flow from investment activities in Q1 2022 was $34,607,936.98, a turnaround from -$8,925,319.57 in Q1 2021[22] Other Information - The company terminated the planned acquisition of Tianjin Beiqing Electric Power Smart Energy Co., Ltd. on February 25, 2022, after the board's approval[12] - There were no significant mergers or market expansions reported during this quarter[12] - The company did not report any net profit from subsidiaries under common control for the current or previous period[20] - The company did not report any cash inflow from financing activities in Q1 2022[22]