Financial Performance - The company's operating revenue for Q3 2021 was ¥5,455,403,190.30, representing a year-on-year increase of 93.49%[7] - The net profit attributable to shareholders for Q3 2021 was ¥169,432,147.23, an increase of 7.21% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2021 was ¥169,903,054.22, reflecting an 11.82% increase year-on-year[7] - Total operating revenue for Q3 2021 reached ¥12,933,016,269.93, a significant increase from ¥6,359,059,827.05 in the same period of 2020, representing a growth of approximately 103%[37] - Net profit for Q3 2021 was ¥508,487,989.97, up from ¥307,647,731.35 in Q3 2020, reflecting a growth of approximately 65%[41] - The total comprehensive income attributable to the parent company was approximately CNY 508.49 million, compared to CNY 307.65 million in the previous year, representing a year-over-year increase of 65.3%[43] Assets and Liabilities - The total assets at the end of Q3 2021 reached ¥9,623,779,411.01, marking a 66.47% increase from the end of the previous year[10] - The total assets as of Q3 2021 amounted to ¥9,623,779,411.01, compared to ¥5,781,149,879.88 in Q3 2020, marking an increase of around 66%[35] - Current liabilities totaled ¥4,982,123,136.06 in Q3 2021, up from ¥2,967,170,984.42 in Q3 2020, which is an increase of approximately 68%[35] - Non-current liabilities reached ¥1,005,125,780.85 in Q3 2021, compared to ¥43,463,928.77 in Q3 2020, showing a substantial increase[35] - Total liabilities were RMB 3,010,634,913.19, a decrease from RMB 3,117,480,459.05[53] Shareholder Information - The total number of common shareholders at the end of the reporting period is 18,409, with the top ten shareholders holding significant stakes[19] - The largest shareholder, Zhou Gonghua, holds 91,008,200 shares, representing 21.76% of the total shares[19] - The company has not disclosed any other significant relationships among the top shareholders beyond the known agreements among certain individuals[22] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date was -¥1,841,396,928.53, indicating a significant cash outflow[10] - Cash inflow from operating activities totaled CNY 11.45 billion, up from CNY 5.44 billion, indicating a growth of 109.3%[46] - Cash outflow for purchasing goods and services was CNY 12.04 billion, compared to CNY 6.59 billion, an increase of 82.5%[46] - The company reported a net increase in cash and cash equivalents of negative CNY 326.00 million, compared to negative CNY 224.29 million in the previous year[48] - The company's cash and cash equivalents as of September 30, 2021, amount to ¥524,594,258.91, down from ¥714,171,376.19 at the end of 2020, indicating a decrease of approximately 26.5%[28] Operational Strategy and Future Plans - The company attributed the slower growth in net profit to increased interest expenses from convertible bonds and higher provisions for credit impairment due to increased accounts receivable[10] - The company plans to continue innovating and participating in large infrastructure projects to drive future growth[16] - The company plans to issue non-financial corporate debt financing tools in the interbank bond market, with a total amount not exceeding ¥50 million[27] - The company plans to expand its market presence and invest in new technologies to drive future growth[35] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[44] Research and Development - Research and development expenses for Q3 2021 were ¥39,183,049.44, compared to ¥23,465,314.81 in Q3 2020, indicating a growth of approximately 67%[37] Equity and Capital Structure - The total equity attributable to shareholders reached ¥3,599,803,824.21 in Q3 2021, up from ¥2,770,514,966.69 in Q3 2020, reflecting an increase of about 30%[35] - A total of 1,831,900 restricted stock options were granted to 361 incentive targets at a price of ¥10.23 per share, increasing the registered capital from ¥400,580,000 to ¥418,197,000[24] - The company recognized a right-of-use asset and lease liability of RMB 106,845,545.86 due to the new leasing standards[52]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥7,477,613,079.63, representing a year-on-year increase of 111.26%[21] - Net profit attributable to shareholders for the same period was ¥339,055,842.74, up 126.62% year-on-year, while the net profit after deducting non-recurring gains and losses increased by 159.08%[21] - The company's net assets attributable to shareholders at the end of the reporting period were ¥3,237,447,029.12, a 16.85% increase compared to the end of the previous year[21] - Total assets increased by 46.11% year-on-year, amounting to ¥8,446,992,099.91 at the end of the reporting period[21] - Basic earnings per share for the first half of 2021 were ¥0.85, reflecting a 97.67% increase compared to the same period last year[21] Revenue Growth Drivers - The company completed the first batch of orders for submarine cables in the first half of the year, contributing to the rapid growth in operating revenue[24] - The company actively participated in large infrastructure project tenders, resulting in more orders and driving revenue growth[24] - The company emphasized product innovation and development to keep pace with industry trends, which significantly boosted sales[24] Cash Flow and Working Capital - The decline in net cash flow from operating activities was attributed to increased procurement payments to meet rising order demands, leading to higher working capital requirements[24] - The company's cash flow from operating activities showed a net outflow of approximately ¥937.38 million, compared to a net outflow of ¥716.32 million in the previous year[78] - The inventory level rose to approximately ¥2.93 billion, accounting for 34.64% of total assets, driven by increased sales orders[82] Market Position and Strategy - The company is recognized as one of the largest manufacturers and sellers of electrical wires and cables in Shanghai and nationwide[29] - The company’s products are widely used in multiple sectors, including power, construction, and new energy[29] - The company has established a comprehensive sales network through both offline and online channels, enhancing its market penetration[36] - The company aims to provide one-stop services and maintain a competitive edge through high quality and efficient service[32] - The company is focused on expanding its market share and brand value through strategic partnerships and project participation[36] Industry Context - The government has set a GDP growth target of no less than 6% for 2021, which may benefit the company’s industry[39] - In the first half of the year, China's GDP reached 53.2167 trillion yuan, with a year-on-year growth of 12.7%[40] - The total electricity consumption in China for the first half of the year was 3.9339 trillion kWh, representing a year-on-year increase of 16.2%[41] - The mechanical industry achieved a revenue of 10.08 trillion yuan in the first five months of 2021, with a year-on-year growth of 35.1%[50] Research and Development - Research and development expenses amounted to 2,445.96 million yuan, reflecting a growth of 145.74% compared to the previous year[69] - The company has a total of 135 patents as of June 30, 2021, indicating a strong focus on innovation[60] - The company has developed over 50,000 product specifications, meeting various complex environmental requirements[31] Risks and Challenges - The company faces risks from macroeconomic fluctuations that could lead to decreased demand for cable products[103] - Raw material price volatility, particularly in copper, poses a significant risk to operating costs and profitability[103] - The competitive landscape in the cable industry is intensifying, with many small players affecting market dynamics[104] - Rapid expansion may lead to management challenges, impacting strategic planning and operational control[105] Environmental Compliance - The company is not classified as a key pollutant discharge unit by environmental protection authorities[115] - The company strictly adheres to environmental laws and regulations, ensuring compliance in pollutant discharge[118] - There are no reported administrative penalties related to environmental issues during the reporting period[116] Shareholder Commitments - Major shareholders include Zhou Gonghua (22.72%), Zhou Guihua (21.22%), and Zhou Guixing (21.22%) with no changes in their holdings during the reporting period[192] - The company has commitments from major shareholders to not transfer shares for 36 months post-listing[121] - Shareholders are restricted to a maximum of 25% share transfer annually while serving as directors or executives[123] Corporate Governance - The annual shareholders' meeting approved multiple resolutions, including the financial budget for 2021 and the appointment of the auditing firm[110] - The company has maintained a good integrity status, with no overdue debts or regulatory penalties reported during the period[181] - There were no significant lawsuits or arbitration matters during the reporting period, indicating a stable legal environment for the company[181]

Financial Performance - Operating revenue surged by 112.73% to CNY 2,852,984,083.95 year-on-year[11] - Net profit attributable to shareholders rose by 132.30% to CNY 142,103,325.53 compared to the same period last year[11] - Basic earnings per share increased by 94.44% to CNY 0.35[11] - The total operating revenue for Q1 2021 was CNY 2,852,984,083.95, a significant increase from CNY 1,341,155,233.73 in Q1 2020, representing a growth of approximately 113.8%[47] - The net profit for Q1 2021 was CNY 142,103,325.53, which is a substantial rise from CNY 61,172,306.40 in Q1 2020, indicating an increase of approximately 132.5%[51] - The company's total comprehensive income for Q1 2021 was approximately ¥142.10 million, compared to ¥61.17 million in Q1 2020, marking an increase of 132%[54] Assets and Liabilities - Total assets increased by 16.15% to CNY 6,714,782,590.04 compared to the end of the previous year[11] - Total liabilities increased to ¥3,796,055,931.00 from ¥3,010,634,913.19, reflecting a rise of approximately 26.1%[39] - Total current assets increased to ¥5,755,273,670.26, up from ¥4,924,818,509.73, representing a growth of approximately 16.9%[36] - Accounts receivable increased to ¥2,106,423,490.46, up from ¥1,701,636,128.29, which is an increase of about 23.8%[41] - Total equity attributable to shareholders increased to ¥2,918,726,659.04 from ¥2,770,514,966.69, reflecting a growth of approximately 5.4%[41] Cash Flow - Net cash flow from operating activities decreased by 12.27% to -CNY 746,501,187.14 year-to-date[11] - The cash flow from operating activities for Q1 2021 was negative at approximately -¥746.50 million, compared to -¥664.89 million in Q1 2020, indicating a worsening cash flow situation[62] - The total cash inflow from operating activities in Q1 2021 was approximately ¥2.59 billion, compared to ¥951.66 million in Q1 2020, showing a significant increase[62] - The total cash outflow from operating activities for Q1 2021 was approximately ¥3.34 billion, compared to ¥1.62 billion in Q1 2020, indicating a higher expenditure[62] Shareholder Information - The total number of shareholders reached 22,273 by the end of the reporting period[18] - The top three shareholders hold a combined 65.16% of the shares, with Zhou Gonghua holding 22.72%[18] Research and Development - Research and development expenses surged by 298.77% to ¥11,110,156.33 from ¥2,786,096.74, primarily due to increased investment in subsidiary R&D[23] - Research and development expenses for Q1 2021 were CNY 11,110,156.33, significantly higher than CNY 2,786,096.74 in Q1 2020, representing an increase of approximately 298.5%[51] Financial Expenses - The company’s financial expenses increased by 102.11% to ¥27,248,261.62 from ¥13,481,734.20, mainly due to increased bank borrowings[23] - The company reported a financial expense of CNY 27,248,261.62 in Q1 2021, compared to CNY 13,481,734.20 in Q1 2020, indicating an increase of about 102.0%[51] Inventory and Procurement - Cash and cash equivalents decreased by 64.06% to ¥256,695,273.93 from ¥714,171,376.19, mainly due to increased procurement payments related to expanded production scale[21] - Inventory increased by 51.48% to ¥2,706,968,813.90 from ¥1,787,064,543.71, driven by an increase in sales orders and expanded production scale[21] - The company reported a 46.15% increase in accounts payable to ¥380,000,000.00 from ¥260,000,000.00, due to expanded production scale and increased procurement payments[23] Future Outlook and Projects - The company is progressing with the construction of the Chizhou special cable production base, with the first phase completed and the second phase expected to be operational by Q3 2021[26] - The company plans to issue convertible bonds to raise up to ¥1 billion for the cable industry park project and to supplement working capital[27] - The underwater cable project is underway, with the first batch of orders delivered, while the ultra-high voltage project is in the investment phase[30]

Financial Performance - The company's operating revenue for 2020 was CNY 9,735,867,712.21, representing a 27.31% increase compared to CNY 7,647,243,266.67 in 2019[26]. - The net profit attributable to shareholders for 2020 was CNY 410,341,896.32, up 23.10% from CNY 333,348,745.95 in 2019[26]. - The net profit after deducting non-recurring gains and losses was CNY 377,099,641.44, a 17.40% increase from CNY 321,203,964.68 in 2019[26]. - The company's total assets increased by 61.05% to CNY 5,781,149,879.88 in 2020 from CNY 3,589,753,218.15 in 2019[29]. - The net assets attributable to shareholders rose by 77.73% to CNY 2,770,514,966.69 in 2020 from CNY 1,558,860,730.73 in 2019[29]. - The basic earnings per share for 2020 was CNY 1.10, a 15.79% increase from CNY 0.95 in 2019[29]. - In 2020, the company achieved a sales revenue of 9.74 billion RMB, representing a year-on-year growth of 27.31%[80]. - The net profit attributable to shareholders increased to 410.34 million RMB, up 23.10% compared to the previous year[80]. Dividend Policy - The company distributed cash dividends of RMB 0.125 per share, totaling RMB 50,072,500, which accounted for 12.20% of the net profit attributable to shareholders for 2020[8]. - The company plans not to distribute cash dividends for the 2020 fiscal year, with remaining undistributed profits to be carried forward to the next year[8]. Audit and Compliance - The company received a standard unqualified audit report from Lixin Certified Public Accountants[7]. - The company guarantees that the prospectus does not contain false records, misleading statements, or significant omissions, and will bear legal responsibility for its accuracy and completeness[162]. - If the prospectus is found to have significant issues, the company will buy back all newly issued shares at a price not lower than the issuance price plus interest[163]. - The company and its controlling shareholders commit to compensating investors for losses caused by any misleading information in the prospectus[166]. - All directors, supervisors, and senior management are liable for any misleading statements in the prospectus and will compensate investors for losses[167]. Market and Industry Outlook - The company aims to capitalize on the rapid development of new energy, rail transit, and smart grid sectors, which are expected to provide significant market opportunities[49]. - The telecommunications sector saw a total business volume of 1,503.2 billion yuan in 2020, growing by 20.6% year-on-year, highlighting the industry's expansion potential[52]. - The demand for cables in the new energy vehicle sector is expected to grow significantly due to the increasing use of electronic devices and the need for specialized cables[58]. - The market for cables related to renewable energy sources is expanding as China focuses on clean and low-carbon development[59]. Operational Challenges and Risks - The management's future business outlook is subject to various uncertainties and does not constitute a commitment to performance[11]. - The company faces risks related to macroeconomic fluctuations that could impact the demand for its wire and cable products, which are essential to various industries[128]. - The company is exposed to market competition risks due to a large number of domestic wire and cable manufacturers, necessitating continuous improvement in production processes and product structure[129]. - The company’s main business costs are significantly affected by raw material price fluctuations, particularly copper, which could impact overall operating performance[130]. - Rapid expansion of the company's operations may lead to management challenges, requiring enhanced strategic planning and internal controls[134]. Production and Innovation - The company launched over 50,000 product specifications, catering to various complex usage environments, including high-temperature and high-flexibility cables[38]. - The company has been recognized for its high-end specialty cables, achieving domestic leadership in certain product categories[40]. - The company has invested in advanced production technologies, enhancing efficiency in cable manufacturing processes[64]. - The company is committed to technological innovation and collaboration with academic institutions to improve product performance and develop new products[117]. Corporate Governance and Management - The company plans to optimize its corporate governance structure to enhance management efficiency and performance management systems[123]. - The company aims to enhance its competitive edge through quality control, product development, and brand image, targeting a transition from "100 million Qifan" to "200 million Qifan, 100 years Qifan"[115]. - The company emphasizes talent management and development, aiming to build a skilled workforce to support its growth strategy[122]. Financial Management - The company plans to issue convertible bonds to raise up to 1 billion RMB for the first phase of the Chizhou Qifan cable industry park project and to supplement working capital[104]. - The company aims to diversify its financing channels and reduce financing costs by leveraging various financial instruments and maintaining a reasonable capital structure[124]. - The company will establish a special account for raised funds to ensure proper management and usage, adhering to relevant regulations[181]. Social Responsibility - The company has committed to social responsibility, donating 1.18 million RMB for poverty alleviation and supporting pandemic response efforts[79]. - The company has been recognized as a "National Green Factory" and is actively promoting green manufacturing initiatives[79].

Financial Performance - Operating revenue for the first nine months was ¥6,359,059,827.05, representing a 14.01% increase from the same period last year[11]. - Net profit attributable to shareholders of the listed company was ¥307,647,731.35, up 19.00% year-on-year[11]. - Basic earnings per share for the period was ¥0.85, an increase of 23.19% compared to the same period last year[14]. - The company reported a net profit of ¥1,019,887,086.93 for the first three quarters of 2020, compared to ¥801,605,638.25 for the same period in 2019, an increase of 27.3%[48]. - Net profit for Q3 2020 was ¥158,031,151.71, compared to ¥111,965,390.74 in Q3 2019, reflecting a year-over-year increase of about 41.2%[56]. - The company reported a total profit of ¥213,951,005.70 for Q3 2020, compared to ¥137,076,413.76 in Q3 2019, marking an increase of around 56.2%[62]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥5,481,867,115.94, an increase of 52.71% compared to the end of the previous year[11]. - Total liabilities as of September 30, 2020, amounted to CNY 2,763,928,399.01, compared to CNY 2,030,892,487.42 as of December 31, 2019[40]. - The company’s total liabilities as of September 30, 2020, were ¥2,319,010,012.63, up from ¥1,666,757,713.06 at the end of 2019, reflecting a 39.1% increase[46]. - The company’s total assets impairment losses for Q3 2020 were ¥178,658.63, compared to ¥1,074,793.03 in the previous year, indicating a decrease in asset quality issues[62]. Cash Flow - The net cash flow from operating activities for the first nine months was -¥1,891,593,720.82, a significant decline of 425.34% compared to the previous year[11]. - The company reported a net cash flow from operating activities of -1,670,353,926.57 RMB for the first three quarters of 2020, compared to -47,525,765.56 RMB in the same period of 2019[73]. - Total cash inflow from operating activities was 5,550,928,768.74 RMB, compared to 4,860,177,846.87 RMB in the previous year[73]. - Cash paid for purchasing goods and services increased by 41.61% to CNY 6,587,259,651.17, primarily due to increased payments for goods[30]. - Cash inflow from financing activities amounted to 2,401,692,924.55 RMB, with cash outflows totaling 704,662,005.53 RMB, resulting in a net cash flow of 1,697,030,919.02 RMB[73]. Shareholder Information - The total number of shareholders at the end of the reporting period was 6,088,029, with significant holdings concentrated among the top ten shareholders[19]. - Net cash inflow from investment activities amounted to -$6,654,809.84, a significant decrease compared to -$265,204,009.02 in the previous period[75]. Research and Development - Research and development expenses rose by 81.68% to ¥23,465,314.81 from ¥12,915,586.50 year-on-year, reflecting increased investment in R&D[27]. - R&D expenses in Q3 2020 amounted to ¥13,511,682.26, significantly higher than ¥4,424,928.85 in Q3 2019, indicating a 205.5% increase[49]. - Research and development expenses for Q3 2020 amounted to ¥6,744,541.32, up from ¥4,424,928.85 in Q3 2019, which is an increase of approximately 52.5%[62]. Financial Ratios - The weighted average return on net assets was 16.19%, down 2.89 percentage points from the previous year[14]. - The company’s retained earnings grew by 37.34% to ¥1,131,531,296.07 from ¥823,883,564.73, reflecting an increase in profits for the period[27]. Government Support - Government subsidies recognized in the current period amounted to ¥6,991,173.29, while total government subsidies for the year reached ¥35,499,906.05[14]. - Cash received from government subsidies and returned bid deposits increased by 42.44% to CNY 98,504,710.03[30].