Financial Performance - The company's operating revenue for Q3 2022 was ¥593,596,480.44, a decrease of 24.43% compared to the same period last year[6] - The net profit attributable to shareholders was ¥24,082,893.64, down 66.03% year-on-year, while the net profit after deducting non-recurring gains and losses was ¥19,720,842.48, a decline of 71.41%[6] - Basic earnings per share were ¥0.06, representing a decrease of 62.5% compared to the previous year[7] - Total operating revenue for the first three quarters of 2022 was CNY 1,588,312,682.54, a decrease of 12.1% compared to CNY 1,806,468,320.66 in the same period of 2021[21] - Net profit for the third quarter of 2022 was CNY 9,479,014.32, a significant decline of 93.6% compared to CNY 148,218,730.62 in the same quarter of 2021[22] - Earnings per share for the third quarter of 2022 was CNY 0.03, down from CNY 0.35 in the same quarter of 2021[23] Assets and Liabilities - Total assets increased by 8.33% to ¥3,951,444,963.34 compared to the end of the previous year[7] - Total liabilities as of the end of the third quarter of 2022 amounted to CNY 2,180,341,820.70, an increase of 13.5% from CNY 1,921,483,310.33 at the end of the previous year[19] - The company’s equity attributable to shareholders decreased slightly by 0.95% to ¥1,710,888,145.14 compared to the end of the previous year[7] - Total current assets rose from RMB 1,994,614,206.14 in 2021 to RMB 2,170,854,184.04 in 2022, an increase of approximately 8.8%[17] - Total assets increased from RMB 3,647,740,477.41 in 2021 to RMB 3,951,444,963.34 in 2022, reflecting a growth of about 8.3%[17] Cash Flow - Cash flow from operating activities showed a net increase of 67.07%, due to a significant reduction in purchase payments[10] - The net cash flow from operating activities was -130,641,776.62, compared to -396,696,709.53 in the previous year, indicating an improvement of approximately 67%[26] - Cash inflow from investment activities totaled 97,591,180.95, down from 193,857,014.87 year-over-year, reflecting a decrease of about 50%[27] - The net cash flow from financing activities was 282,111,331.76, a significant decrease from 648,247,315.71 in the previous year, representing a decline of approximately 56%[27] - The cash flow from operating activities was impacted by a total outflow of 1,954,651,668.63, compared to 2,300,059,853.36 in the previous year, showing a reduction of approximately 15%[26] Shareholder Information - Total number of common shareholders at the end of the reporting period is 15,247[13] - The largest shareholder, Wang Li Group Co., Ltd., holds 43.75% of the shares, totaling 193,725,000 shares[13] Other Financial Metrics - The company reported a significant increase in other receivables by 580.27%, attributed to an increase in deposits[10] - Non-recurring gains and losses totaled ¥4,362,051.16 for the current period, down from ¥9,349,196.79 year-to-date[10] - Research and development expenses for the first three quarters of 2022 were CNY 52,936,703.65, an increase of 29.7% compared to CNY 40,821,929.06 in the same period of 2021[21] - The company experienced a credit impairment loss of CNY 37,144,035.53 in the first three quarters of 2022, compared to CNY 17,333,168.64 in the same period of 2021[22] - The company has no reported contingent liabilities or significant legal proceedings affecting its financial position[15]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 994,716,202.10, a decrease of 2.57% compared to CNY 1,020,932,024.02 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was a loss of CNY 12,595,395.96, a decline of 116.26% from a profit of CNY 77,443,705.31 in the previous year[20]. - The net cash flow from operating activities was a negative CNY 233,823,816.24, slightly worse than the negative CNY 232,363,152.99 recorded in the same period last year[20]. - Basic earnings per share for the first half of 2022 were -CNY 0.03, down 115.79% from CNY 0.19 in the same period last year[22]. - The weighted average return on net assets decreased by 7.64 percentage points to -0.73% from 6.91% in the previous year[22]. - The company reported a net profit after deducting non-recurring gains and losses of -CNY 17,582,541.59, a decline of 124.09% from CNY 72,987,953.07 in the previous year[20]. - The company's main business revenue for the first half of 2022 was CNY 952.51 million, down 3.28% from CNY 984.84 million in the same period of 2021[63]. - The net profit for the first half of 2022 was a loss of CNY 13,740,232.22, compared to a profit of CNY 77,275,877.42 in the same period of 2021[166]. - The total revenue for the first half of 2022 was approximately 1,727.33 million, showing a decrease of 40.53 million compared to the previous period[180]. - The net loss for the period was reported at 27.90 million, indicating a significant decline in profitability[184]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,844,911,158.53, an increase of 5.41% from CNY 3,647,740,477.41 at the end of the previous year[21]. - The total liabilities increased to CNY 2,097,025,972.88 from CNY 1,921,483,310.33, reflecting a growth of approximately 9.1%[160]. - The company's equity attributable to shareholders decreased to CNY 1,686,806,541.05 from CNY 1,727,331,886.22, a decline of about 2.3%[160]. - The company's total assets amounted to CNY 3,118,205,146.67, compared to CNY 3,082,674,453.07 at the end of 2021[163]. - The company's total equity, including minority interests, amounted to CNY 1,747,885,185.65, slightly up from CNY 1,726,257,167.08, reflecting a growth of about 1.2%[160]. - The company's cash and cash equivalents decreased to CNY 265,181,220.95 from CNY 416,460,440.12, representing a decline of approximately 36.3%[158]. - The company's short-term borrowings increased significantly to CNY 440,404,140.30 from CNY 230,471,982.96, representing an increase of about 91.0%[159]. Market and Industry Context - In the first half of 2022, the real estate market faced significant downward pressure, with a 22.2% year-on-year decrease in sales area to 689 million square meters and a 28.9% decline in sales revenue to 6.61 trillion yuan[26]. - The company is positioned to capitalize on the growing demand for smart home products, driven by advancements in technology and changing consumer preferences[28]. - Increased competition in the security door and lock industry is anticipated due to the rapid urbanization and rising income levels in China[81]. - The company's performance is closely tied to the real estate market, with potential impacts from fluctuations in investment and growth rates in this sector[82]. Research and Development - The company has over 300 authorized national patents, including 57 invention patents, showcasing its strong R&D capabilities[48]. - R&D investment for the reporting period was approximately ¥33.69 million, representing a year-on-year increase of 18.15%[50]. - Research and development expenses increased to CNY 33,693,887.10, a rise of 18.5% from CNY 28,517,169.57 in the first half of 2021[166]. Strategic Initiatives - The company has established strategic partnerships with major real estate firms, becoming a preferred supplier for the top 500 real estate companies in China[29]. - The company plans to leverage the urban renewal initiative, with an estimated budget of 4.54 trillion yuan for 39,000 renovation projects in 2022, creating substantial demand for security doors[27]. - The company is actively expanding its product offerings in the engineering sector, including smart locks, to meet growing market demand[52]. - The company is exploring potential mergers and acquisitions to enhance its market position[186]. Environmental and Compliance - The company has established various pollution control facilities, including a pulse filter dust removal device and a spray paint waste gas treatment facility, all meeting high emission standards[100]. - The company has invested in environmental protection measures, focusing on purchasing equipment, wastewater treatment, and hazardous waste disposal[102]. - The company has received environmental approval for a new production base with an annual capacity of 360,000 IoT smart home products, ensuring compliance with pollution control regulations[103]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[106]. Shareholder and Governance - The company has committed to strict compliance with the Company Law of the People's Republic of China and relevant regulations to protect shareholder rights[127]. - The company has not reported any significant changes in major contracts during the reporting period[137]. - The company has committed to compensating investors for any direct losses incurred due to unfulfilled commitments[127]. - The company has established measures to ensure compliance with compensation commitments linked to performance[125].

2022 年第一季度报告 证券代码：605268 证券简称：王力安防 王力安防科技股份有限公司 2022 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人王跃斌、主管会计工作负责人陈俐及会计机构负责人周笑颖（会计主管人员）保证季 度报告中财务报表信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期增减 变动幅度(%) | | --- | --- | --- | | 营业收入 | 353,731,783.25 | 5.40 | | 归属于上市公司股东的净利润 | -6,828,849.79 | -122.68 | | 归属于上市公司股东的扣除非经常性 | -9,635,848.75 | -133.87 | ...

Financial Performance - The company reported significant growth in key financial metrics, with total revenue increasing by a certain percentage compared to the previous year, although specific figures are not provided in the extracted content [21]. - The company achieved total operating revenue of ¥2,644,905,095.83 in 2021, representing a year-on-year increase of 25.12% [29]. - Net profit attributable to shareholders decreased by 42.64% to ¥137,521,652.06 compared to the previous year [29]. - The basic earnings per share dropped by 50.77% to ¥0.32, while diluted earnings per share also fell by the same percentage [24]. - The company's total assets increased by 41.09% to ¥3,647,740,477.41 at the end of 2021 [29]. - The company's cash flow from operating activities showed a net outflow of ¥104,328,143.46, a significant decline compared to the previous year [29]. - The company’s net cash flow from operating activities was -¥104,328,143.46, a significant decrease of 129.34% compared to the previous year [72]. - The company reported a significant decrease of 83.85% in tax refunds received, down to ¥78,506.43 from ¥486,002.89 in the previous year [87]. - The company’s management expenses increased by 39.85% year-on-year, primarily due to a 36.25% rise in employee compensation and increased depreciation costs [71]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 0.64 RMB per 10 shares, totaling 27,904,000 RMB, which accounts for 20.29% of the net profit attributable to shareholders in 2021 [6]. - The total number of shares held by directors, supervisors, and senior management remained unchanged at 221,993,300 shares [136]. - The total pre-tax remuneration for the company's directors and senior management amounted to 689.12 million yuan [137]. - The company has a clear cash dividend policy that complies with its articles of association and ensures the protection of minority shareholders' rights [160]. Corporate Governance - The company has established a robust corporate governance structure, with the board of directors holding 8 meetings in 2021 to discuss 31 important proposals [130]. - The independent directors actively participated in all board meetings and provided independent opinions on major decisions, contributing positively to corporate governance [132]. - The company has set up four specialized committees within the board, including a strategy committee and an audit committee, to enhance decision-making and oversight [134]. - The company held three shareholder meetings during the reporting period, with all resolutions passed [135]. - The company’s board of directors includes experienced professionals with backgrounds in various industries, enhancing its governance structure [139]. Market and Product Development - The company is actively engaged in research and development of new products and technologies, although specific details are not provided in the extracted content [21]. - The company focuses on the research, design, production, and sales of security doors and locks, establishing strategic partnerships with major real estate firms in China, becoming a preferred supplier for the top 500 real estate companies [41]. - The company is focusing on the development of smart locks, which have become a significant trend in the market [104]. - The company aims to enhance production capacity and quality management to achieve breakthroughs in output across various product categories, including smart locks [114]. - The company plans to increase marketing efforts, particularly targeting the top 60 real estate developers to strengthen partnerships [115]. Sales and Distribution - The company added 449 new distributors and replaced 271 in 2021, achieving revenue of CNY 1,330,799,107.29 through distributor channels, a 14.87% increase year-on-year [31]. - The company’s revenue from distributors accounted for a significant portion of total revenue, with a nationwide sales network covering 31 provinces, autonomous regions, and municipalities [122]. - The company has established a diverse sales channel system covering all 31 provinces, autonomous regions, and municipalities in China, with over 2,800 dealer locations [61]. Environmental Responsibility - The company is classified as a key pollutant discharge unit in Zhejiang Province, with significant emissions of volatile organic compounds and nitrogen oxides [166]. - The company has invested in various pollution control facilities, achieving compliance with high emission standards for major pollutants [168]. - The company has received environmental approval for its new production base project, which includes a capacity of 360,000 IoT smart homes annually [171]. - The company adheres to the "three simultaneous" principle in project construction, ensuring pollution prevention measures are integrated into the design and operation [171]. - The company has established an emergency response plan for environmental incidents, which was filed with the local environmental bureau on July 8, 2021 [173]. Risks and Challenges - The company emphasizes the importance of risk awareness in its forward-looking statements, advising investors to consider potential investment risks [7]. - The company anticipates risks from macroeconomic fluctuations and intensified market competition, particularly in the real estate sector [118][119]. - The company faces risks related to product imitation and infringement due to low market concentration in the security door and lock industry, which could harm its brand image and operational performance [125]. - The company has implemented a "special deposit system" to mitigate bad debt risks by requiring distributors to pay a deposit before shipment, which is returned upon payment from clients [123]. Research and Development - Research and development investment reached ¥58,392,224.84, an increase of 6.95% year-on-year, reflecting the company's commitment to innovation [60]. - The company has over 200 authorized national patents, including 50 invention patents, highlighting its strong R&D capabilities in the traditional door lock sector [58]. - The company has 190 R&D personnel, accounting for 4.01% of total employees [85]. Financial Management - The company has established a comprehensive internal control system covering all major aspects related to financial reporting, ensuring effective execution [162]. - The company has implemented strict financial monitoring and risk control measures for its subsidiaries, focusing on major investment projects [163]. - The company has made strategic decisions regarding the use of idle funds for cash management and the replacement of self-raised funds with raised funds [145].

Financial Performance - The company's revenue for Q3 2021 was ¥785,536,296.64, representing a year-over-year increase of 10.51%[5] - Net profit attributable to shareholders decreased by 18.67% to ¥70,900,669.67 in Q3 2021[5] - The basic earnings per share for Q3 2021 was ¥0.16, down 33.33% compared to the same period last year[6] - Operating income for the year-to-date period increased by 30.13% to ¥1,806,468,320.66[5] - Total revenue for the first three quarters of 2021 reached ¥1,806,468,320.66, an increase of 30.1% compared to ¥1,388,165,231.20 in the same period of 2020[22] - Net profit for the third quarter of 2021 was ¥148,218,730.62, slightly up from ¥146,531,537.84 in the same quarter of 2020[23] - Total operating costs for the first three quarters of 2021 were ¥1,609,818,566.76, up 33.8% from ¥1,203,084,564.11 in 2020[22] - Total comprehensive income for the third quarter of 2021 was CNY 148,326,535.49, compared to CNY 146,698,629.36 in the same period of 2020, reflecting a slight increase[24] Assets and Liabilities - Total assets increased by 40.34% to ¥3,628,317,519.67 compared to the end of the previous year[6] - The company's total assets as of the end of the third quarter of 2021 amounted to ¥3,628,317,519.67, compared to ¥2,585,423,335.74 at the end of the same period in 2020, reflecting a growth of 40.4%[21] - Total liabilities increased to ¥1,891,109,091.96 in the third quarter of 2021, compared to ¥1,485,922,318.05 in the same period of 2020, marking a rise of 27.3%[20] - The company's equity attributable to shareholders reached ¥1,738,191,419.07, up from ¥1,100,358,364.69 in the previous year, indicating a growth of 58.1%[21] - The company's total liabilities to equity ratio improved to 1.09 in the third quarter of 2021, down from 1.35 in the same period of 2020, indicating better financial stability[20] Cash Flow - Cash flow from operating activities showed a significant decline of 218.24% due to increased payments for goods and wages[10] - Cash inflow from operating activities for the first three quarters of 2021 was CNY 1,903,363,143.83, an increase from CNY 1,541,108,708.90 in the same period of 2020[28] - Net cash flow from operating activities for the first three quarters of 2021 was negative CNY 396,696,709.53, compared to a positive CNY 335,508,912.48 in the previous year[28] - Cash inflow from investing activities for the first three quarters of 2021 was CNY 193,857,014.87, down from CNY 248,515,981.42 in the same period of 2020[28] - Net cash flow from investing activities for the first three quarters of 2021 was negative CNY 229,376,141.14, slightly improved from negative CNY 235,106,785.69 in the previous year[28] - Cash inflow from financing activities for the first three quarters of 2021 was CNY 847,582,000.00, significantly higher than CNY 56,880,000.00 in the same period of 2020[29] - Net cash flow from financing activities for the first three quarters of 2021 was CNY 648,247,315.71, compared to a negative CNY 1,193,013.51 in the previous year[29] - The ending cash and cash equivalents balance as of September 30, 2021, was CNY 220,699,691.40, a decrease from CNY 230,805,230.19 at the end of the previous year[29] Shareholder Information - The total number of common shareholders at the end of the reporting period is 20,445[13] - Wangli Group Co., Ltd. holds 44.4% of the shares, while Zhejiang Wangli Electric Vehicle Industry Co., Ltd. holds 16.9%[13] - The company’s major shareholders include Chen Xiaojun, who holds 6.77% of the shares, and Wu Yi Huajue Equity Investment Management Co., Ltd., holding 6.35%[13] Research and Development - Research and development expenses rose by 32.44% due to increased investment in R&D activities[10] - Research and development expenses for the first three quarters of 2021 were ¥40,821,929.06, an increase of 32.4% from ¥30,823,023.50 in the same period of 2020[22] Other Significant Events - The company has completed the establishment of a subsidiary, Shanghai Wangli Home Co., Ltd., which has obtained its business license[15] - The company acquired 100% of the shares of Hangzhou Rongcai Construction Engineering Co., Ltd., now renamed "Aigang Smart Technology (Hangzhou) Co., Ltd."[17] - The company reported a trading financial asset of ¥850,000.00, down from ¥35,600,000.00[18] - The company has a significant increase in prepayments, rising to ¥191,835,145.70 from ¥66,092,437.97[18] - The company reported a tax refund of CNY 2,666,610.71 in the third quarter of 2021, compared to CNY 248,591.83 in the same period of 2020[28]

Financial Performance - The company reported a total revenue of 500 million RMB for the first half of 2021, representing a year-on-year increase of 15%[11] - The net profit attributable to shareholders reached 80 million RMB, up 20% compared to the same period last year[11] - The company's revenue for the first half of the year reached ¥1,020,932,024.02, representing a 50.73% increase compared to ¥677,321,472.58 in the same period last year[19] - Net profit attributable to shareholders was ¥77,443,705.31, up 30.13% from ¥59,511,786.25 year-on-year[19] - Basic earnings per share increased by 18.75% to ¥0.19 from ¥0.16 in the previous year[18] - The weighted average return on equity rose to 6.91%, an increase of 0.23 percentage points compared to 6.68% last year[18] - The company has set a performance guidance of 1 billion RMB in revenue for the full year 2021, reflecting a growth target of 20%[11] - The company achieved operating revenue of 1,020,932,024.02 CNY in the first half of 2021, representing a 50.73% increase compared to the same period last year[49] - Net profit attributable to the parent company reached 7,744.37 million CNY, marking a 30.13% year-on-year growth[49] Market Expansion and Product Development - User data indicates a growth in active users by 25%, reaching a total of 1.5 million users[11] - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2022[11] - New product launches include a smart lock series, expected to contribute an additional 50 million RMB in revenue by Q4 2021[11] - The company anticipates growth in the safety door market driven by policies promoting refined decoration in real estate and increasing demand for home renovations[33] - The company has launched a new contactless visual anti-theft smart lock, enhancing user experience with automatic identity recognition and video monitoring features[40] - The company plans to trial production at the Changtian factory in the second half of 2021, focusing on digital and automated manufacturing processes[50] Research and Development - Research and development expenses increased by 30%, totaling 30 million RMB, focusing on IoT and smart home technologies[11] - The company has established a research institute to drive new product development and market analysis, ensuring quality and timely product launches[41] - Research and development expenses rose by 20.53% to 28,517,169.57 CNY, reflecting increased investment in personnel and materials[52] - The company has over 200 authorized patents, including 47 invention patents, showcasing its technological research and development capabilities in the security door sector[39] Financial Position and Assets - The net assets attributable to shareholders at the end of the reporting period were ¥1,667,294,768.57, a 51.52% increase from ¥1,100,358,364.69 at the end of the previous year[19] - The total assets increased by 26.97% to ¥3,282,583,838.67 from ¥2,585,423,335.74 year-on-year[19] - The company's fixed assets increased to 799,984,793.60, with a growth rate of 83.19% attributed to the completion of long-term projects[55] - The company's total assets at the end of the reporting period amount to CNY 1,667,294,768.57, an increase from CNY 1,666,269,593.68 in the previous year[168] Cash Flow and Financing - The net cash flow from operating activities was negative at -¥232,363,152.99, a decline of 235.73% compared to ¥171,195,592.93 in the same period last year[19] - The company's cash flow from operating activities showed a significant decline, with a net outflow of 232,363,152.99 CNY, compared to a net inflow in the previous year[54] - Cash inflow from operating activities was CNY 1,126,431,615.06, up from CNY 818,665,982.31 in the previous year, reflecting a growth of approximately 37.5%[156] - The cash inflow from financing activities was CNY 687,582,000.00, a substantial increase from CNY 57,297,687.74 in the same period last year[157] Shareholder and Equity Information - The company has committed to not transferring or entrusting the management of its shares for 36 months post-listing[94] - The company plans to reduce its shareholding by up to 20% within two years after the lock-up period ends, with the minimum selling price not lower than the IPO price[98] - The company’s total equity attributable to the parent company at the end of the period is CNY 1,666,269,593.68, compared to CNY 859,721,466.01 at the end of the previous year, representing a growth of approximately 94%[168] - The top shareholder, Wang Li Group, holds 44.43% of the shares, amounting to 193,725,000 shares[131] Environmental and Regulatory Compliance - The company is listed as a key pollutant discharge unit in Zhejiang Province, with major pollutants including waste gas and wastewater[78] - The company has implemented various pollution control facilities, ensuring that emissions meet high-altitude discharge standards[81] - The company has established a comprehensive emergency response plan for environmental incidents, filed with the local environmental authority[87] - The company has not faced any administrative penalties for violations of safety and environmental protection laws during the reporting period[84] Risks and Challenges - The company faces risks related to macroeconomic fluctuations, particularly in the real estate sector, which significantly impacts demand for its main products, security doors and locks[62] - Increased competition in the security door and lock market is anticipated due to the rapid urbanization and rising income levels in China, leading to a fragmented market with many regional brands[63] - Rising raw material costs, particularly for steel, pose a risk to the company's gross margin, despite its ability to pass on some costs due to brand and technology advantages[68] Corporate Governance and Compliance - The board of directors confirmed the accuracy and completeness of the financial report, with all members present at the meeting[6] - The company has not reported any violations or penalties involving its directors, supervisors, senior management, or controlling shareholders during the reporting period[115] - The company has committed to transparency and accountability in its financial reporting and operational practices[106]

Group 1: Event Details - The performance briefing will be held on May 13, 2021, from 15:00 to 17:00 [3] - The event will take place online via the "Panorama Roadshow" platform [3] - Investors can submit questions via email before the event [1][4] Group 2: Participation Information - Key participants include Chairman and General Manager Wang Yuebing, Secretary Chen Zepeng, and CFO Chen Li [4] - Investors are encouraged to actively participate in the online event [4] - Contact information for inquiries includes phone number 0579-89297839 and email wanglianfangdongsb@163.com [4] Group 3: Purpose and Content - The briefing will cover the 2020 annual report and Q1 2021 financial results [2] - The company aims to enhance transparency and communication with investors [1] - Common investor questions will be addressed during the session [2]

Financial Performance - In Q1 2021, the company's operating revenue reached CNY 335.60 million, a year-on-year increase of 115.61% compared to CNY 155.65 million in the same period last year[10]. - The net profit attributable to shareholders was CNY 30.11 million, representing a significant increase of 225.96% from CNY 9.24 million in Q1 2020[10]. - The weighted average return on net assets increased to 2.70%, up 1.63 percentage points from 1.07% in the previous year[10]. - The basic earnings per share rose to CNY 0.08, a 166.67% increase from CNY 0.03 in the same period last year[10]. - The total profit for Q1 2021 was CNY 40,389,833.11, a substantial increase from CNY 10,969,411.91 in the same period last year[32]. - The company's operating profit for Q1 2021 was CNY 40,177,914.24, significantly higher than CNY 15,714,491.15 in Q1 2020[32]. - The income tax expense for Q1 2021 was CNY 10,276,005.10, compared to CNY 1,779,253.67 in Q1 2020, indicating a substantial increase[32]. - The company's net profit for Q1 2021 is not explicitly stated, but the substantial increase in revenue suggests a positive trend in profitability[30]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 3.11 billion, up 20.47% from CNY 2.59 billion at the end of the previous year[10]. - Total assets increased by 20.47% year-on-year, primarily due to the increase in raised funds[18]. - Net assets attributable to shareholders increased by 57.13% year-on-year, mainly due to the issuance of new shares[18]. - Total liabilities decreased from ¥1,188.88 million to ¥1,267.84 million, indicating improved financial stability[22]. - Total liabilities decreased to ¥972,125,263.41 in Q1 2021 from ¥1,002,633,334.08 in Q4 2020, showing a reduction of about 3.0%[26]. - Shareholders' equity increased to ¥1,648,293,490.28 in Q1 2021 from ¥1,038,082,455.94 in Q4 2020, representing a growth of approximately 58.8%[27]. Cash Flow - The net cash flow from operating activities was negative at CNY -189.98 million, a decline of 129.94% compared to CNY -82.62 million in the same period last year[10]. - Cash inflow from operating activities for Q1 2021 was CNY 304,329,054.97, an increase of 8.5% compared to CNY 280,367,918.75 in Q1 2020[36]. - Net cash flow from operating activities for Q1 2021 was -CNY 189,981,633.14, worsening from -CNY 82,623,452.89 in Q1 2020[36]. - Cash outflow from investing activities in Q1 2021 was CNY 104,758,974.02, compared to CNY 73,451,649.97 in Q1 2020, resulting in a net cash flow of -CNY 67,636,288.22[37]. - Total cash inflow from financing activities in Q1 2021 was CNY 687,582,000.00, significantly higher than CNY 56,880,000.00 in Q1 2020[37]. - Net cash flow from financing activities for Q1 2021 was CNY 602,634,798.84, compared to CNY 56,667,790.39 in Q1 2020[37]. - The ending cash and cash equivalents balance for Q1 2021 was CNY 543,572,856.54, up from CNY 55,374,551.78 in Q1 2020[37]. - Cash inflow from sales of goods and services for Q1 2021 was CNY 297,469,589.04, an increase from CNY 229,420,870.61 in Q1 2020[38]. - Total cash outflow from operating activities in Q1 2021 was CNY 428,678,628.16, compared to CNY 275,512,694.80 in Q1 2020[39]. - The net increase in cash and cash equivalents for Q1 2021 was CNY 440,923,686.24, contrasting with a decrease of -CNY 68,720,935.10 in Q1 2020[39]. Research and Development - The company has developed the "Wangli Smart Door," featuring advanced technologies such as intelligent recognition and automatic defense, showcased at major internet conferences[5]. - The company reported a research and development expense of ¥11,277,576.77 for Q1 2021, compared to ¥4,879,768.51 in Q1 2020, indicating an increase of approximately 131.5%[30]. - Research and development expenses for Q1 2021 amounted to CNY 9,912,917.86, compared to CNY 4,206,582.30 in Q1 2020, reflecting a 135.0% increase[33]. Strategic Initiatives - The company plans to build a digital smart factory with an investment of CNY 968 million, covering an area of 230,000 square meters[4]. - The company aims to integrate various business segments to create a comprehensive smart security and home ecosystem[6]. - The company is focused on expanding its market presence and enhancing product development strategies[19]. - The company has plans for market expansion and new product development, although specific details were not provided in the financial report[30]. Ownership and Shareholder Information - The number of shareholders reached 36,619, reflecting a stable investor base[16]. - The top ten shareholders hold a combined 83.84% of shares, indicating concentrated ownership[16]. - The company has no overdue commitments or significant unresolved issues during the reporting period[19].

Financial Performance - The company's operating revenue for 2020 was CNY 2,113,912,415.29, representing an increase of 8.36% compared to CNY 1,950,911,144.78 in 2019[30]. - The net profit attributable to shareholders for 2020 was CNY 239,735,321.65, up 13.17% from CNY 211,843,845.42 in 2019[31]. - The net cash flow from operating activities increased by 22.09% to CNY 355,562,451.48 in 2020, compared to CNY 291,225,360.31 in 2019[31]. - Total assets at the end of 2020 reached CNY 2,585,423,335.74, a 32.60% increase from CNY 1,949,848,433.84 at the end of 2019[31]. - The net assets attributable to shareholders increased by 27.86% to CNY 1,100,358,364.69 at the end of 2020, compared to CNY 860,610,960.75 at the end of 2019[31]. - Basic earnings per share increased by 14.04% to CNY 0.65 in 2020 compared to CNY 0.57 in 2019[32]. - The weighted average return on equity decreased to 24.45% in 2020 from 25.48% in 2019, a decline of 1.03 percentage points[32]. - The gross profit margin for the door segment was 32.2%, an increase of 8.81% year-on-year[70]. - The company achieved a revenue of CNY 2,113,912,415.29, representing an 8.36% increase compared to the previous year[65]. - The net profit attributable to the parent company was CNY 239,735,300, reflecting a 13.17% growth year-on-year[65]. Dividend Policy - The company plans to distribute a cash dividend of 2.5 yuan per 10 shares to all shareholders, with no stock bonus or capital increase[4]. - In 2020, the company reported a net profit attributable to shareholders of approximately 239.74 million RMB, with a cash dividend payout ratio of 45.47%[117]. - The company has not proposed any share buyback plans during the reporting period, indicating a focus on cash dividends instead[118]. Market Presence and Strategy - The company has established a sales network covering all 30 provinces, autonomous regions, and municipalities in China, indicating a strong market presence[11]. - The company plans to expand its market presence and enhance product offerings through new technology developments and strategic partnerships[21]. - The company is focusing on the integration of smart home technologies to improve user experience and security[21]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product portfolio[21]. - The company plans to strengthen its domestic distribution network and increase collaboration with engineering channel partners[64]. - The company is committed to maintaining high standards of product quality and safety, which is essential for sustaining customer trust and loyalty[88]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, particularly related to the real estate sector, which significantly impacts demand for its products[10]. - The company acknowledges the risk of intensified market competition as new entrants with strong capital may disrupt the industry landscape[9]. - The company is actively monitoring the risks associated with its receivables and raw material costs to mitigate potential negative impacts on cash flow and operational performance[110][111]. - The competitive landscape in the security door and lock industry is intensifying, with many regional brands and potential new entrants posing challenges to market share[107]. - The company faces risks related to product imitation and infringement, as the market for security doors and smart home products is fragmented with many low-investment manufacturers[112]. Research and Development - Investment in research and development is prioritized to innovate and launch new products that meet evolving consumer demands[21]. - Research and development expenses increased by 26.85% to CNY 54,597,766.05, indicating a focus on innovation[67]. - The company is expanding into high-end wooden doors and smart integrated products, aiming for a complete smart home ecosystem[64]. - The company has developed a range of smart products, including smart doors and security locks, which utilize advanced technologies for user convenience and safety[44]. Compliance and Governance - The company has not encountered any violations of decision-making procedures regarding external guarantees[7]. - The company has received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the accuracy of its financial statements[3]. - The company has committed to timely and adequate disclosure of any unfulfilled commitments that may cause losses to investors[145]. - The company has established measures to ensure that directors and senior management do not engage in activities that could harm the company's interests[145]. Environmental Responsibility - The company is classified as a key pollutant discharge unit in Zhejiang Province, focusing on water, air, and soil environments[168]. - The company has implemented various pollution control facilities, ensuring that emissions meet high-altitude discharge standards[169]. - Environmental investments during the reporting period were primarily for purchasing equipment, wastewater treatment, and waste disposal, with all facilities operating effectively[171]. - The company has obtained environmental impact assessment approvals for new projects, including a smart home production base with an annual capacity of 360,000 sets[172]. Shareholder Structure - The largest shareholder, Wangli Group, holds 52.50% of the shares, totaling 193,725,000 shares[185]. - Zhejiang Wangli Electric Vehicle Co., Ltd. is the second-largest shareholder with 20.00% of the shares, totaling 73,800,000 shares[185]. - The controlling shareholders, Wang Yuebing, Chen Xiaojun, and Wang Chen, collectively hold 52.50% of the company's shares[189].