证券代码：605178 证券简称：时空科技 公告编号：2023-032 北京新时空科技股份有限公司 关于召开 2022 年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4月4日(星期二)至4月10日(星期一)16:00前登录上证路演 中心网站首页点击"提问预征集通道"栏目或通过公司邮箱zqsw@nnlighting.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 北京新时空科技股份有限公司（以下简称"公司"）已于2023年3月15日发 布公司2022年年度报告，为便于广大投资者更全面深入地了解公司2022年度经 营成果、财务状况，公司计划于2023年4月11日上午10:00-11:00举行2022年度业 绩说明会，就投资者关心的问题进行交流。 会议召开时间：2023年4月11日（星期二）上午10：00-11：00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.ssein ...

Financial Performance - The company's operating revenue for 2022 was approximately ¥329.89 million, a decrease of 55.77% compared to ¥745.78 million in 2021[22]. - The net profit attributable to shareholders for 2022 was approximately -¥209.10 million, compared to -¥17.71 million in 2021[22]. - The total assets at the end of 2022 were approximately ¥2.32 billion, down 11.62% from ¥2.63 billion at the end of 2021[22]. - The basic earnings per share for 2022 were -¥2.11, compared to -¥0.18 in 2021[23]. - The cash flow from operating activities for 2022 was approximately -¥110.98 million, an improvement from -¥269.60 million in 2021[22]. - The company's net assets attributable to shareholders decreased to approximately ¥1.81 billion, down 11.17% from ¥2.04 billion in 2021[22]. - The company's total revenue for 2022 was CNY 329.89 million, a significant decrease from CNY 745.78 million in the previous year, representing a decline of approximately 56%[26]. - The net profit attributable to shareholders for 2022 was CNY -209.10 million, compared to CNY -8.80 million in 2021, indicating a worsening financial performance[34]. Strategic Initiatives - The company is focusing on high-quality development and exploring innovative business models, particularly in the cultural tourism sector[34]. - The company has initiated a strategic acquisition to enhance its smart parking operations, aiming to capitalize on the growing market for smart city solutions[37]. - The company aims to enhance its cultural and tourism service capabilities, aligning with national strategies to boost cultural consumption and night economy[36]. - The company is actively integrating information technology with urban governance through products like smart streetlights and smart parking services[34]. - The company aims to leverage cultural and technological innovations to enhance its landscape lighting and smart city services, focusing on immersive experiences and urban space upgrades[47]. Market Environment - The landscape lighting industry is closely tied to economic cycles and government policies, with ongoing support for nighttime economy initiatives driving long-term growth[42]. - The government has emphasized the development of nighttime economy and cultural tourism, which is expected to boost the landscape lighting sector[44]. - The competitive landscape in the landscape lighting industry is intensifying, with a pyramid structure where many small firms struggle against larger, more established companies[46]. Operational Efficiency - The company has implemented a cautious operational strategy, emphasizing cost reduction and efficiency improvement during the reporting period[34]. - The company implemented a cash flow and efficiency-oriented strategy to enhance project evaluation and risk control, resulting in better operating cash flow in 2022 compared to the previous year[39]. - The company has adopted an EPC contracting model for its landscape lighting and smart city projects, ensuring consistency between design and actual construction[51]. Research and Development - The company has established a comprehensive R&D system and holds 69 patents and 16 software copyrights in the smart lighting field[59]. - Research and development expenses totaled 2,948.27 million yuan, accounting for 8.94% of total operating revenue[74]. - The company employed 64 R&D personnel, making up 21% of the total workforce[75]. Shareholder and Governance - The company has established a stable profit distribution policy, adhering to the guidelines set forth in relevant regulations and its articles of association[136]. - The company has implemented a comprehensive evaluation mechanism for senior management, determining performance results and bonus distribution standards[141]. - The company has established a robust governance structure, with a board of directors comprising 7 members, including 3 independent directors[117]. - The company held 1 shareholders' meeting during the reporting period, approving 10 resolutions related to the annual report and profit distribution[116]. Risks and Challenges - The management has highlighted various risks that the company may face in the future, which are detailed in the management discussion and analysis section[7]. - The company faces risks from macroeconomic fluctuations, which could impact infrastructure investment and cash collection speed[108]. - Increased market competition may lead to a decline in market share and operational performance if the company fails to maintain its competitive advantages[109]. - Fluctuations in raw material prices and labor costs could significantly affect the company's profitability if contract prices do not adjust accordingly[112]. Environmental and Social Responsibility - The company has not established an environmental protection mechanism but has complied with relevant environmental laws during its operations[146][147]. - The company actively promotes energy-saving technology and aims to enhance the technological content of its landscape lighting business[148]. - The company plans to continue its efforts in green energy technology development and application in response to national carbon neutrality goals[148]. Financial Management - The company has engaged in bank wealth management with a total amount of 51 million RMB, with an outstanding balance of 11 million RMB[184]. - The company reported a total of 10,000,000 RMB in entrusted financial management with an expected annualized return rate of 3.00%[186]. - The actual return from entrusted financial management was 45.21 RMB, with a realized yield of 1.35%[186]. Share Repurchase and Stock Management - A share repurchase plan was initiated with a budget between RMB 30 million and RMB 60 million to stabilize stock prices and enhance shareholder value, which is still in progress[40]. - The company will implement measures to stabilize stock prices if the stock price falls below the latest audited net asset value per share for 20 consecutive trading days within three years post-listing[161].

Financial Performance - The company's operating revenue for Q3 2022 was ¥31,557,224.67, a decrease of 85.73% compared to the same period last year[5] - The net profit attributable to shareholders was -¥74,250,917.83, reflecting a decline of 2,930.22% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥79,299,363.27, down 3,567.63% compared to the previous year[5] - The basic and diluted earnings per share were both -¥0.73, a decrease of 2,533.33% year-on-year[6] - Total operating revenue for the first three quarters of 2022 was CNY 308.15 million, a decrease of 51.7% compared to CNY 636.36 million in the same period of 2021[18] - Net profit for the first three quarters of 2022 was a loss of CNY 123.12 million, compared to a profit of CNY 33.18 million in the same period of 2021[19] - The total comprehensive income for the third quarter of 2022 was -123,121,269.23 CNY, compared to 33,175,836.49 CNY in the same period of 2021[20] - The basic and diluted earnings per share for the third quarter of 2022 were both -1.22 CNY, down from 0.35 CNY in the previous year[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,465,003,140.53, a decrease of 6.17% from the end of the previous year[6] - The total assets of the company as of September 30, 2022, were CNY 2.47 billion, down from CNY 2.63 billion at the end of 2021, indicating a decrease of 6.1%[16] - The total liabilities decreased to CNY 550.77 million from CNY 591.02 million, a decline of 6.8%[16] - The equity attributable to shareholders was ¥1,915,923,316.93, down 5.86% compared to the end of the previous year[6] - The company’s equity attributable to shareholders decreased to CNY 1.92 billion from CNY 2.04 billion, a decline of 5.5%[16] Cash Flow - The cash flow from operating activities was -¥128,712,080.85, indicating a significant cash outflow[6] - The net cash flow from operating activities for the first three quarters of 2022 was -128,712,080.85 CNY, an improvement from -313,707,579.88 CNY in the same period of 2021[23] - The total cash inflow from operating activities for the first three quarters of 2022 was 336,070,079.93 CNY, down from 408,312,080.71 CNY in the previous year[23] - The total cash outflow from operating activities for the first three quarters of 2022 was 464,782,160.78 CNY, compared to 722,019,660.59 CNY in the same period of 2021[23] - The cash and cash equivalents decreased to CNY 491.03 million as of September 30, 2022, from CNY 559.85 million at the end of 2021, representing a decline of 12.2%[14] - The cash and cash equivalents at the end of the third quarter of 2022 were 481,058,410.78 CNY, compared to 429,621,952.12 CNY at the end of the same period in 2021[24] Operational Challenges - The decline in revenue was primarily due to macroeconomic fluctuations and reduced investment demand in the landscape lighting industry[9] - The company faced increased competition, leading to a continuous decline in gross profit margins in the landscape lighting business[9] Shareholder Information - The company reported a total of 11,822 common shareholders at the end of the reporting period[11] Costs and Expenses - Total operating costs for the first three quarters of 2022 were CNY 376.77 million, down 31.7% from CNY 551.49 million in the previous year[18] - Research and development expenses for the first three quarters of 2022 were CNY 21.75 million, a decrease of 17% compared to CNY 26.25 million in the same period of 2021[18] Other Income - The company reported a significant increase in other income to CNY 5.89 million, up from CNY 4.51 million in the previous year, reflecting a growth of 30.6%[18] Investment Activities - Cash inflow from investment activities for the first three quarters of 2022 was 502,847,322.36 CNY, compared to 1,156,122,187.33 CNY in the previous year[24] - The net cash flow from investment activities for the first three quarters of 2022 was 56,651,265.36 CNY, down from 235,201,168.90 CNY in the same period of 2021[24] - The net cash flow from financing activities for the first three quarters of 2022 was 22,086,243.49 CNY, a significant improvement from -41,278,640.06 CNY in the previous year[24] - The company reported a cash inflow of 500,182,244.00 CNY from the recovery of investments in the first three quarters of 2022, down from 1,150,000,000.00 CNY in the previous year[23]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 27,659 million, a decrease of 33.39% compared to CNY 41,523 million in the same period last year[20]. - The net profit attributable to shareholders was CNY -4,686.37 million, representing a decline of 247.17% from CNY 3,184.23 million in the previous year[20]. - The net cash flow from operating activities was CNY -12,037.04 million, compared to CNY -28,935.33 million in the same period last year[20]. - The company's total assets decreased by 1.93% to CNY 257,637.87 million from CNY 262,700.80 million at the end of the previous year[20]. - The net assets attributable to shareholders decreased by 2.18% to CNY 199,084.40 million from CNY 203,529.02 million at the end of the previous year[20]. - Basic earnings per share were CNY -0.49, a decrease of 253.13% from CNY 0.32 in the same period last year[21]. - The company reported a total of CNY 3,394.88 million in credit impairment losses and asset impairment losses during the reporting period[22]. - The company reported a net loss for the first half of 2022 of RMB 48,476,759.84, compared to a net profit of RMB 31,124,397.59 in the same period of 2021[117]. - The total profit (loss) for the first half of 2022 was -RMB 53,163,635.35, compared to a profit of RMB 39,192,689.84 in the first half of 2021[117]. - The company experienced a comprehensive loss of CNY 39,908,668.76 during the first half of 2022[136]. Operational Challenges - The company faced a decline in gross profit margin due to increased competition and rising costs of raw materials and labor[22]. - The company experienced a slowdown in project payment progress due to the impact of the pandemic and local fiscal conditions[22]. - The company's operating revenue decreased due to the impact of repeated COVID-19 outbreaks in multiple cities, leading to a decline in new order volume and a year-on-year revenue drop[39]. - Gross profit margin fell below the same period last year due to rising raw material and labor costs, despite a decrease in operating costs from lower revenue[39]. - The company incurred asset impairment losses of -31,273,483.89 RMB, compared to -17,587,204.75 RMB in the same period of 2021[121]. Strategic Initiatives - The company plans to conduct organizational restructuring to manage rising sales and administrative expenses[22]. - The company is focusing on the long-term strategic goal of "redefining public space value" and is undergoing organizational changes to enhance management efficiency[33]. - The company is expanding its cultural tourism night economy services, leveraging its strengths in landscape lighting to enhance its comprehensive service capabilities[35]. - The company is implementing a cash flow and efficiency-oriented strategy to manage receivables and control expenses amid market pressures[37]. - The company plans to acquire a 47.80% stake in Jieanbo Co., Ltd., aiming to enhance its smart parking business through this strategic investment[51]. - The company plans to enhance the technological content of its landscape lighting business to lead the industry in green and efficient development[61]. - The company plans to focus on market expansion and new product development to improve future performance[118]. Financial Position - Cash and cash equivalents decreased by 40.74% to CNY 331.75 million, primarily due to a reduction in bank deposits[41]. - The company increased its trading financial assets by 99.67% to CNY 200 million, reflecting investments in financial products[41]. - Short-term borrowings rose by 58.56% to CNY 127.58 million, indicating increased reliance on short-term financing[42]. - The company's total equity decreased from CNY 2,061,521,328.18 to CNY 2,022,402,138.29, representing a decline of approximately 1.90%[115]. - The company's retained earnings decreased from CNY 670,489,157.70 to CNY 630,580,488.94, a decline of about 5.94%[115]. - The total owner's equity at the end of the reporting period is CNY 2,102,740,847.28, an increase from CNY 2,076,753,085.93 at the end of the previous period, reflecting a growth of approximately 1.25%[137]. Shareholder Information - The company held its annual general meeting on May 13, 2022, with all proposals approved as disclosed on the Shanghai Stock Exchange website[54]. - The company reported no profit distribution or capital reserve transfer plans for the half-year period[56]. - There were changes in senior management, with the resignation of Deputy General Manager Bi Linlin due to personal reasons[55]. - The company commits that during the tenure of its directors and senior management, they will not transfer more than 25% of their shares annually[69]. - The company will implement measures to stabilize its stock price if the closing price is below the latest audited net asset value per share for 20 consecutive trading days[73]. - The company plans to repurchase shares or increase holdings by controlling shareholders and management to stabilize the stock price, with repurchase prices not exceeding the latest audited net asset value per share[74]. Environmental and Social Responsibility - The company is actively implementing energy-saving transformation projects and using LED energy-saving products to support national carbon reduction goals[61]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[60]. - The company is focused on developing and applying green energy-saving technologies in the context of new urbanization[61]. Accounting and Financial Reporting - The company’s financial statements are prepared in accordance with the Chinese Accounting Standards, ensuring a true and complete reflection of its financial status[144]. - The company recognizes control transfer on the purchase date when the net assets or operational decision-making authority of the acquired entity is transferred, contingent upon several conditions being met[151]. - The company includes all subsidiaries under its control in the consolidated financial statements, reflecting the overall financial position and performance of the group[155]. - The company recognizes losses from asset impairment in full when applicable, according to relevant accounting standards[166]. - The company assesses expected credit losses for financial instruments based on historical loss experience, current conditions, and future economic forecasts[197].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 13,337.61 million, representing a decrease of 8.12% compared to the same period last year [5]. - The net profit attributable to shareholders was CNY -1,078.06 million, a significant decline of 327.01% year-on-year [5]. - Total operating revenue for Q1 2022 was CNY 133,376,076.67, a decrease of 8.3% compared to CNY 145,170,041.28 in Q1 2021 [15]. - Net profit for Q1 2022 was a loss of CNY 12,007,099.65, compared to a profit of CNY 4,676,836.24 in Q1 2021, representing a significant decline [16]. - Basic and diluted earnings per share were both CNY -0.11, with a weighted average return on equity of -0.53% [6]. - Basic and diluted earnings per share for Q1 2022 were both CNY -0.11, compared to CNY 0.07 in Q1 2021, highlighting a downturn in profitability [16]. Cash Flow - The net cash flow from operating activities was CNY -386.30 million, down 97.31% compared to the previous year [5]. - In Q1 2022, the cash inflow from operating activities was CNY 189,251,411.63, a 74.5% increase compared to CNY 108,422,355.95 in Q1 2021 [17]. - The net cash flow from operating activities was -CNY 3,862,957.52, improving from -CNY 143,735,741.72 in the same quarter last year [17]. - Cash inflow from investment activities totaled CNY 200,716,972.60, down 62.4% from CNY 532,087,234.21 in Q1 2021 [17]. - The net cash flow from investment activities was -CNY 9,186,882.40, a significant decline from CNY 130,097,578.21 in the previous year [17]. - The net cash flow from financing activities was CNY 39,347,371.88, recovering from -CNY 50,089,888.22 in Q1 2021 [18]. - The cash outflow for financing activities was CNY 9,294,877.69, significantly lower than CNY 55,170,399.16 in the same quarter last year [18]. - The company paid CNY 2,500,000 for debt repayment, down from CNY 25,000,000 in Q1 2021, reflecting improved cash management [18]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 262,364.49 million, a slight decrease of 0.13% from the end of the previous year [6]. - The total assets as of March 31, 2022, were CNY 2,623,644,941.96, slightly down from CNY 2,627,007,952.52 at the end of 2021 [13]. - The company's total liabilities increased to CNY 598,801,615.70 from CNY 591,020,210.11, reflecting a rise in short-term borrowings [14]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 12,131 [9]. - The top shareholder, Gonglian Hai, holds 37,168,589 shares, representing 37.45% of the total shares [10]. Project and Financing Activities - The company won the bid for the "Bamboo Culture Ecological Industry Park Project (Phase I) Supporting Construction and Facilities Project" with a contract amount of approximately CNY 21,138.53 million, although the contract has not yet been formally signed [11]. - The company received CNY 200,000 from minority shareholders in Q1 2022, indicating continued support from investors [18]. Receivables and Expenses - The company reported a 1,553.00% increase in receivables financing due to the receipt of bank acceptance bills [6]. - Contract liabilities increased by 121.03% due to an increase in project prepayments received [6]. - Accounts receivable decreased to CNY 251,915,520.47 from CNY 352,818,281.46, indicating improved collection efforts [12]. - Research and development expenses for Q1 2022 were CNY 10,880,561.03, up from CNY 9,061,016.19 in Q1 2021, indicating a focus on innovation [15]. - The company reported a significant increase in credit impairment losses of CNY 5,174,199.01 compared to a gain of CNY -1,997,269.52 in the previous year [16].

Financial Performance - The company's operating revenue for 2021 was ¥745,782,951.05, a decrease of 16.81% compared to ¥896,490,820.60 in 2020[21]. - The net profit attributable to shareholders for 2021 was -¥17,714,045.87, representing a decline of 113.34% from ¥132,814,235.33 in the previous year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥27,241,525.03, down 121.81% from ¥124,921,113.87 in 2020[21]. - The net cash flow from operating activities for 2021 was -¥269,601,370.05, compared to -¥45,883,554.72 in 2020[21]. - As of the end of 2021, the total assets amounted to ¥2,627,007,952.52, a decrease of 4.95% from ¥2,763,701,180.31 at the end of 2020[21]. - The net assets attributable to shareholders at the end of 2021 were ¥2,035,290,195.66, a slight decrease of 1.39% from ¥2,063,973,130.31 in 2020[21]. - The company reported a revenue of 74,578.30 million RMB in 2021, a decrease of 16.81% compared to the previous year[32]. - The net profit attributable to shareholders was a loss of 1,771.40 million RMB, marking a significant decline from the previous year's profit[32]. - The weighted average return on equity decreased to -0.86%, down 10.97 percentage points from 2020[22]. Operational Challenges - The company faced challenges due to the ongoing pandemic and power supply constraints, impacting the demand for landscape lighting projects[32]. - The gross profit margin for ongoing projects declined due to rising costs of raw materials such as copper, aluminum, and stainless steel[33]. - A total of 6,093.03 million RMB was recognized as credit impairment and asset impairment losses, impacting the overall profit[23]. - Operating costs decreased by 3.65% to CNY 53,104.41 million, but the proportion of operating costs to revenue increased due to rising raw material and labor costs[51]. Strategic Initiatives - The company has implemented organizational reforms and is exploring new business models, including a "partner" model for investment in various sectors[33]. - The company aims to enhance its market presence in landscape lighting, cultural tourism, and smart city sectors through strategic partnerships[33]. - The company invested CNY 42.7019 million in R&D during the reporting period, an increase of 21.03% compared to the previous year[35]. - The company has focused on high-profile landscape lighting projects, which generally have higher gross margins compared to traditional construction[33]. - The company aims to leverage new technologies such as 5G and AI to enhance urban space experiences and meet rising market demands[38]. Governance and Compliance - The company received a standard unqualified audit report from Da Hua Certified Public Accountants[4]. - The company has established a robust governance structure, ensuring compliance with legal regulations and protecting shareholder interests[94]. - The company completed the election of its third board of directors in December 2021, consisting of 7 members, including 3 independent directors[95]. - The company has maintained a stable governance structure, with no significant differences from regulatory requirements, ensuring compliance and shareholder protection[100]. - The independent directors have not reported any shareholdings, reflecting a commitment to unbiased governance[100]. Market Position and Future Outlook - The company plans to maintain its market position in landscape lighting and improve overall profitability through budget control and cost reduction measures[88]. - The company aims to enhance its landscape lighting business while exploring innovative business models, focusing on cultural, creative, and technological upgrades[86]. - The company is focusing on research and development of new technologies to enhance its product offerings and maintain competitive advantage in the industry[102]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[106]. - The company provided a future outlook projecting a revenue growth of 25% for the next fiscal year, driven by new product launches and market expansion strategies[106]. Shareholder and Capital Management - The total share capital increased from 70,894,000 shares to 99,251,600 shares due to a cash dividend of 0.19 yuan per share and a bonus share distribution of 0.4 shares per share[185]. - The company has a structured salary policy that includes basic salary, bonuses, and allowances, with different models for various employee categories[123]. - The total remuneration for all directors, supervisors, and senior management was CNY 1,733.74 million[110]. - The company has not experienced significant changes in its asset and liability structure due to the distribution of bonus shares and cash dividends[190]. - The company is actively managing its shareholder structure to optimize capital distribution and enhance shareholder value[185].

Financial Performance - The company's operating revenue for Q3 2021 was ¥221,127,908.82, a decrease of 18.44% compared to the same period last year[4]. - The net profit attributable to shareholders for Q3 2021 was ¥2,623,505.03, down 88.23% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥2,286,845.11, a decrease of 85.29% compared to the previous year[4]. - The basic and diluted earnings per share for Q3 2021 were both ¥0.03, reflecting a decline of 88.23% year-on-year[5]. - The net profit for Q3 2021 was CNY 33,175,836.49, a decrease of 64.0% compared to CNY 92,145,320.82 in Q3 2020[22]. - The total profit for Q3 2021 was CNY 40,433,258.50, down 64.7% from CNY 114,348,521.02 in the same period last year[22]. - Operating profit for Q3 2021 was CNY 37,555,809.15, a decline of 67.1% from CNY 114,138,792.05 in Q3 2020[22]. - Total revenue for the first three quarters of 2021 was RMB 636.36 million, a decline of 7.2% compared to RMB 685.65 million in the same period of 2020[21]. - Total operating costs increased to RMB 551.49 million, up from RMB 536.94 million year-over-year[21]. - Research and development expenses for the first three quarters were RMB 26.25 million, compared to RMB 24.95 million in the previous year[21]. - The company reported a significant decrease in comprehensive income attributable to the parent company, which was CNY 34,465,807.50 in Q3 2021, down from CNY 92,145,320.82 in Q3 2020[23]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,657,042,678.94, a decrease of 3.86% from the end of the previous year[5]. - As of September 30, 2021, total assets amounted to RMB 2.657 billion, a decrease from RMB 2.764 billion at the end of 2020[18]. - Total current assets were RMB 2.454 billion, down from RMB 2.603 billion year-over-year[17]. - The total liabilities decreased to RMB 570.22 million from RMB 699.73 million year-over-year[18]. - The equity attributable to shareholders increased to RMB 2.087 billion from RMB 2.064 billion year-over-year[18]. Cash Flow - The company's cash flow from operating activities showed a net outflow of ¥313,707,579.88 year-to-date[4]. - The cash flow from operating activities for the first nine months of 2021 was CNY 373,150,345.52, down 10.6% from CNY 417,288,122.97 in the same period of 2020[25]. - The net cash flow from operating activities in Q3 2021 was CNY -313,707,579.88, compared to CNY -127,149,146.11 in Q3 2020[26]. - The total cash inflow from investment activities in Q3 2021 was CNY 1,156,122,187.33, with a net cash flow of CNY 235,201,168.90[26]. - The cash and cash equivalents at the end of Q3 2021 were CNY 429,621,952.12, a decrease from CNY 1,001,676,173.28 at the end of Q3 2020[27]. - The total cash outflow from financing activities in Q3 2021 was CNY 90,693,892.99, compared to CNY 197,441,743.94 in Q3 2020[27]. Business Operations - The average gross margin for construction projects decreased compared to the same period last year due to intensified competition in the landscape lighting industry[8]. - The company faced delays in project settlement and payment collection, impacting overall profit due to macroeconomic conditions and pandemic factors[8]. - The company established a subsidiary, Beijing New Space Transportation Technology Co., Ltd., with an investment of RMB 30 million, acquiring 60% equity to engage in smart parking business[12]. - The registered capital was increased from RMB 70.894 million to RMB 99.252 million to support business development needs[14]. - The company reported government subsidies of ¥7,349,274.00 year-to-date, primarily from listing subsidies and financial rewards[7]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 8,781[10].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 41,523.32 million, a year-on-year increase of 0.36%[17]. - The net profit attributable to shareholders for the same period was CNY 3,184.23 million, representing a decrease of 56.64% compared to the previous year[17]. - The net profit after deducting non-recurring gains and losses was CNY 2,244.91 million, down 69.33% year-on-year[17]. - Basic earnings per share for the first half of 2021 were CNY 0.32, a decrease of 56.76% year-on-year[18]. - The company reported a significant increase in prepayments, which rose by 29.82% to CNY 1,813.49 million, mainly due to increased project procurement prepayments[37]. - The company reported a net profit distribution of CNY 28,357,600.00 during the first half of 2021[139]. Cost and Expenses - The average gross margin for construction projects was lower than the same period last year due to significant differences among customized projects[18]. - Rising prices of raw materials such as copper, aluminum, and stainless steel increased procurement costs during the reporting period[18]. - The company increased investments in technology research and development, marketing, and business expansion, leading to higher sales, management, and R&D expenses[18]. - Research and development expenses amounted to 17.61 million yuan, an increase of 34.41% year-on-year, with a focus on enhancing technological capabilities[31]. - Total operating costs increased to CNY 365,546,469.93, up 16.6% from CNY 313,568,607.23 in the first half of 2020[115]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 264,228.33 million, a decrease of 4.39% from the end of the previous year[17]. - The net assets attributable to shareholders increased to CNY 208,329.36 million, reflecting a growth of 0.93% compared to the previous year[17]. - The company's total assets decreased to CNY 2,660,537,957.82 from CNY 2,779,601,935.29 at the end of 2020[113]. - Total liabilities decreased to RMB 559,707,592.02 from RMB 699,728,050.00, a reduction of about 20%[109]. - The company's equity attributable to shareholders increased to RMB 2,083,293,627.01 from RMB 2,063,973,130.31, showing a slight increase of approximately 0.9%[109]. Market and Business Strategy - The company continues to focus on cultural creativity and technological innovation, maintaining its leading position in the light and shadow cultural tourism industry while actively expanding into smart city business[22]. - The smart city business, driven by smart streetlights, is expected to see significant growth opportunities as the country emphasizes smart city development[25]. - The company plans to continue expanding its market presence and exploring new strategies for growth[90]. - The company has initiated a new strategic partnership with a leading tech firm to enhance its product offerings and improve service delivery[133]. Research and Development - The company has nearly 50 intellectual property rights, including patents and software copyrights, and has developed smart city IoT products and management platforms[27]. - The company established two new subsidiaries to explore market expansion in landscape lighting and smart city sectors[31]. - Research and development expenses for the first half of 2021 were CNY 17,607,187.59, compared to CNY 13,099,903.01 in the same period of 2020, reflecting a 34.3% increase[115]. Shareholder and Equity Information - The total share capital increased from 70,894,000 shares to 99,251,600 shares after a cash dividend of 0.19 CNY per share and a bonus issue of 0.4 shares per share were distributed[89]. - The largest shareholder, Gongdianhai, held 37,168,589 shares after an increase of 10,619,597 shares during the reporting period[91]. - The number of shares held by domestic private investors increased to 67,980,920 shares, accounting for 68.50% of the total shares after a decrease of 19,423,120 shares[88]. - The company reported an increase in shareholding for key executives, with Gongdianhai increasing by 10,619,597 shares due to stock dividends[100]. Environmental and Social Responsibility - The company actively implemented energy-saving renovation projects and utilized LED energy-saving lighting products to support national carbon reduction goals[54]. - The company is focused on fulfilling its corporate social responsibility by promoting sustainable practices and reducing carbon emissions[54]. - The company has adhered to environmental laws and regulations, effectively preventing and managing pollution during construction activities[53]. Risks and Challenges - The company faces risks related to macroeconomic fluctuations, market competition, and rising raw material and labor costs[44][46]. - The company will stop major asset purchases or capital operations if it fails to fulfill its commitments[73]. Financial Management and Governance - The company has maintained a good integrity status, with no significant debts or obligations unfulfilled during the reporting period[80]. - The company has not disclosed any major related transactions or significant contracts during the reporting period[81][84]. - The company has committed to avoiding any conflicts of interest and ensuring that no related parties engage in competitive activities[78].

Financial Performance - Operating revenue increased by 2.67% to CNY 14,517.00 million year-on-year[5] - Net profit attributable to shareholders decreased by 75.42% to CNY 474.90 million compared to the same period last year[5] - Basic earnings per share dropped by 80.56% to CNY 0.07[7] - The company reported an increase in undistributed profits from $703.8 million to $708.5 million, a growth of approximately 0.9%[32] - Total operating revenue for Q1 2021 was RMB 145,170,041.28, a slight increase of 2.0% compared to RMB 141,387,994.96 in Q1 2020[34] - Net profit for Q1 2021 decreased to RMB 4,676,836.24, down 75.8% from RMB 19,319,829.91 in Q1 2020[35] - Basic and diluted earnings per share for Q1 2021 were both RMB 0.07, compared to RMB 0.36 in Q1 2020[36] - Operating profit for Q1 2021 was RMB 3,791,881.99, a significant decline from RMB 23,519,306.83 in Q1 2020[35] - The total comprehensive income for Q1 2021 was RMB 4,676,836.24, down from RMB 19,319,829.91 in Q1 2020[35] Asset and Liability Changes - Total assets decreased by 5.05% to CNY 262,405.50 million compared to the end of the previous year[5] - Total assets decreased from $2,763.7 million to $2,624.1 million, a decline of approximately 5.0%[26] - Current liabilities decreased from $694.6 million to $554.8 million, a reduction of about 20.1%[26] - Total liabilities decreased from $699.7 million to $554.8 million, a decline of about 20.7%[27] - Non-current liabilities totaled $5.1 million, unchanged from the previous period[27] - Total equity increased slightly from $2,063.9 million to $2,069.2 million, reflecting a growth of approximately 0.6%[27] - Cash and cash equivalents decreased from $585.0 million to $516.2 million, a decline of about 11.8%[30] - Contract assets increased from $1,188.1 million to $1,225.9 million, an increase of approximately 3.2%[30] Cash Flow Analysis - The net cash flow from operating activities was negative at CNY -14,373.57 million, compared to CNY -7,149.21 million in the previous year[5] - In Q1 2021, the cash inflow from operating activities was CNY 108,422,355.95, a decrease of 11.1% compared to CNY 121,915,192.22 in Q1 2020[42] - The cash outflow from operating activities increased to CNY 252,158,097.67, up 30.4% from CNY 193,407,320.01 in the same period last year[42] - The net cash flow from operating activities was -CNY 143,735,741.72, worsening from -CNY 71,492,127.79 in Q1 2020[42] - Cash received from operating activities increased by 526.19% to ¥10,107,412.76, driven by government subsidies and interest income[21] - Cash paid for purchasing goods and services rose by 39.89% to ¥197,446,921.32 due to increased procurement[21] - The total cash and cash equivalents at the end of Q1 2021 were CNY 485,678,951.43, a decrease from CNY 43,270,751.33 in Q1 2020[43] Expense Trends - The average gross profit margin for projects in the first quarter of 2021 was lower than the same period last year, leading to a decline in gross profit[13] - The company increased its investment in industry expansion and strategic layout, resulting in a significant rise in various period expenses compared to the previous year[14] - Sales expenses increased by 30.05% to ¥13,675,608.34 compared to the same period last year, influenced by pandemic-related cost reductions[17] - Management expenses surged by 88.49% to ¥19,995,018.07 as the company expanded new business and increased hiring[17] - R&D expenses rose by 38.63% to ¥9,061,016.19, reflecting a recovery from pandemic impacts[17] Shareholder Information - The company reported a total of 14,578 shareholders at the end of the reporting period[11] - The top shareholder, Gongdianhai, holds 37.45% of the shares, totaling 26,548,992 shares[11] Investment Activities - The company plans to continue investing in new products and technologies to drive future growth[22] - The company received CNY 530,000,000.00 from investment recoveries in Q1 2021, with no comparable figure in Q1 2020[45] - The company paid CNY 407,000,000.00 for investments in Q1 2021, with no prior year data available[45]

Financial Performance - The company's operating revenue for 2020 was RMB 896,490,820.60, a decrease of 14.10% compared to RMB 1,043,689,189.12 in 2019[18]. - The net profit attributable to shareholders was RMB 132,814,235.33, down 35.30% from RMB 205,290,146.15 in the previous year[18]. - The basic earnings per share decreased to RMB 2.25, a decline of 42.01% from RMB 3.88 in 2019[20]. - The company's operating revenue for the reporting period was 896.49 million RMB, a decrease of 14.10% compared to the previous year[47]. - The operating cost decreased by 10.24% to 551.17 million RMB, resulting in a gross profit margin of 38.25%[47]. - The revenue from the night economy segment was 836.54 million RMB, with a gross margin of 39.67%, showing a decrease of 14.69% year-on-year[49]. - The company achieved audited operating revenue of RMB 896.49 million, which is 84.81% of the forecasted revenue of RMB 1,057.02 million[104]. - The net profit attributable to shareholders was RMB 132.81 million, representing 84.41% of the forecasted net profit of RMB 157.35 million[104]. - The net profit after deducting non-recurring gains and losses was RMB 124.92 million, achieving 81.05% of the forecasted figure of RMB 154.12 million[104]. - The main reasons for not meeting the profit forecast include project progress not meeting expectations and increased asset impairment losses[104]. Assets and Liabilities - The total assets rose by 64.31% to RMB 2,763,701,180.31 compared to RMB 1,682,024,412.52 in 2019[18]. - The net assets attributable to shareholders increased by 127.24% to RMB 2,063,973,130.31 from RMB 908,274,421.28 in 2019[18]. - Total liabilities decreased from 77,375.00 million RMB to 69,972.81 million RMB[133]. - Total equity rose from 90,827.44 million RMB to 206,397.31 million RMB[133]. - The company reported a significant increase in capital reserves, rising to ¥1,226,311,145.75 from ¥219,556,051.13, an increase of approximately 478.5%[196]. - The company’s long-term liabilities totaled ¥5,095,082.93, compared to ¥200,000.00 in the previous year, representing a significant increase[196]. Cash Flow - The cash flow from operating activities showed an improvement, with a net cash flow of RMB -45,883,554.72 compared to RMB -229,727,796.35 in 2019[18]. - The cash flow from operating activities showed a negative RMB 7,149.21 million in Q1, but improved to a positive RMB 8,126.56 million by Q4[21]. - The net cash flow from operating activities improved significantly to -45.88 million RMB, compared to -229.73 million RMB in the previous year[47]. - The financing activities generated a net cash flow of 868.57 million RMB, a significant increase from 68.32 million RMB in the previous year, indicating strong investor confidence[47]. - The net cash flow from financing activities increased significantly to CNY 868.57 million, up 1,171.31% compared to CNY 68.32 million in the previous year[58]. Research and Development - The company has a dedicated R&D team of 152 personnel, including 1 PhD and 28 master's degree holders, focusing on innovative lighting solutions and smart city technologies[37]. - The company launched 18 R&D projects and obtained 8 new patents during the reporting period, enhancing its technological capabilities[45]. - The total R&D expenditure for the period was CNY 35.28 million, accounting for 3.94% of operating revenue[57]. - The company has developed over 50 patents and software copyrights, contributing to industry standards in green lighting and smart road lighting systems[38]. - The company employs 152 R&D personnel, making up 33.55% of the total workforce[57]. Market and Business Strategy - The company focuses on smart city IoT system development and lighting engineering system integration, enhancing urban space value through technology and creativity[28]. - The urban lighting market is rapidly growing, driven by the demand for night tourism and urban image enhancement[32]. - The company aims to provide comprehensive solutions for cultural landscape lighting, smart lighting, and smart city investments[31]. - The company is positioned to benefit from urbanization trends and the growth of the night economy, which are expected to drive demand in the lighting engineering sector[69]. - The landscape lighting industry in China is experiencing continuous growth, driven by the development of cultural tourism projects and the "night economy" policy, with a focus on enhancing visitor spending and project profitability[70]. Risks and Challenges - The company emphasizes the importance of risk awareness regarding future plans and strategies, urging investors to pay attention to potential risks[6]. - The company faces risks related to macroeconomic fluctuations, as its business is closely tied to government investments, which may be affected by economic slowdowns[75]. - The company is also exposed to market competition risks, as the industry matures and more participants enter the market, necessitating continuous improvement in service and product quality[75]. - The impact of the COVID-19 pandemic led to adjustments in project construction plans, affecting revenue and contract asset impairment[105]. Shareholder and Governance - The company has committed to not transferring or entrusting the management of shares held prior to the IPO for 36 months from the listing date[84]. - Major shareholders have pledged to limit their share transfers to no more than 25% of their total holdings annually during their tenure as directors or senior management[87]. - The company has established a governance structure to protect the rights of shareholders and creditors, ensuring timely and accurate information disclosure[119]. - The company has established a framework for compliance with relevant laws and regulations regarding share transfers and reductions[89]. - The company has outlined specific commitments regarding shareholding intentions and reductions post-lock-up[87]. Audit and Compliance - The audit report confirms that the financial statements fairly reflect the company's financial position as of December 31, 2020, in accordance with accounting standards[180]. - Key audit matters include revenue recognition and impairment of accounts receivable and contract assets, which are critical to the financial statements[182]. - The company has not faced any penalties from securities regulatory authorities in the past three years[157]. - The company has appointed Dahua Accounting Firm as the auditor for the 2020 fiscal year, with an audit fee of RMB 800,000[108].