2022 年第三季度报告 证券代码：605298 证券简称：必得科技 江苏必得科技股份有限公司 2022 年第三季度报告 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法律责任。 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、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 注:"本报告期"指本季度初至本季度末 3 个月期间，下同。 (二)非经常性损益项目和金额 单位：元 币种：人民币 | 项目 | 本报告期金额 | 年初至报告期末金额 | 说明 | | --- | --- | --- | --- | | 非流动性资产处置损 | 0 | 217,807.69 | | | 益 | | | | | 越权审批，或无正式批 | | | | | 准文件，或偶发性的税 | | | | | 收返还、减免 | | | ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥108,029,464.30, a decrease of 31.99% compared to ¥158,843,642.42 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2022 was ¥26,694,573.28, down 43.22% from ¥47,014,386.70 in the previous year[19]. - The net cash flow from operating activities was -¥6,538,369.27, a decline of 184.09% compared to ¥7,775,708.35 in the same period last year[19]. - The basic earnings per share decreased to ¥0.19, representing a 59.57% drop from ¥0.47 in the previous year[20]. - The weighted average return on net assets was 2.88%, down 2.86 percentage points from 5.74% in the same period last year[20]. - The company achieved total revenue of CNY 108.03 million, a decrease of 31.99% compared to the previous year[34]. - The net profit attributable to shareholders was CNY 26.69 million, reflecting the impact of reduced customer settlements due to the pandemic[33]. - Operating profit for the first half of 2022 was RMB 31,176,356.34, down 43% from RMB 55,146,156.09 in the first half of 2021[110]. - The company reported a net loss of CNY 43,200,000.00 during the first half of 2022[128]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,142,375,591.10, an increase of 2.41% from ¥1,115,438,475.78 at the end of the previous year[19]. - The net assets attributable to shareholders decreased to ¥951,005,507.73, a decline of 1.71% from ¥967,510,934.45 at the end of the previous year[19]. - Cash and cash equivalents decreased by 7.62% to ¥448,264,700.24, accounting for 39.24% of total assets[38]. - Accounts receivable increased by 16.82% to ¥234,955,567.59, representing 20.57% of total assets[38]. - Inventory rose by 5.47% to ¥115,906,937.98, making up 10.15% of total assets[38]. - Fixed assets decreased by 4.11% to ¥44,873,604.33, which is 3.93% of total assets[38]. - The total liabilities reached CNY 189,319,399.37, compared to CNY 146,224,221.27, indicating a growth of approximately 29.5%[103]. - The company's equity attributable to shareholders decreased to CNY 951,005,507.73 from CNY 967,510,934.45, a decline of about 1.7%[103]. Research and Development - Research and development expenses increased by 16.68% to CNY 11.57 million, indicating a commitment to innovation[35]. - The company has developed multiple industry-leading products, including a lightweight air duct that reduces weight and manufacturing complexity, enhancing environmental performance[28]. - The company holds 52 patents and has 28 invention patents pending, showcasing its strong R&D capabilities[28]. - The company focuses on innovation and has established a comprehensive R&D system, collaborating with universities and research institutions[28]. - The company plans to continue focusing on R&D and market expansion strategies to improve future performance[112]. Market Position and Partnerships - The company maintains long-term partnerships with major manufacturers such as CRRC Qingdao and Beijing Subway, indicating strong market presence[29]. - The company’s products are widely used in various models of high-speed trains and urban rail vehicles across multiple cities, both domestically and internationally[29]. - The company has received several recognitions, including being named a national high-tech enterprise and a "Little Giant" in manufacturing by Jiangsu Province[28]. - The company is located in the economically developed Yangtze River Delta region, benefiting from a complete industrial chain and rich educational resources[31]. Environmental and Compliance - The company has no significant environmental penalties and implements measures to manage waste and emissions, ensuring compliance with national standards[55]. - Wastewater is treated to meet the first-level standard of the "Comprehensive Wastewater Discharge Standard" before being discharged into the municipal pipeline[56]. - The company implemented water-saving measures, including optimizing water systems to reduce waste and improve utilization efficiency[58]. - Energy-saving initiatives were adopted, such as using energy-efficient lighting and equipment to lower energy consumption[58]. Shareholder and Governance - The actual controller holds 69.44% of the company's shares, posing a risk of adverse influence on major decisions affecting the company and minority shareholders[48]. - The company has committed to not transferring or entrusting the management of shares for 36 months post-IPO, with automatic extensions under certain conditions[62]. - Shareholders are restricted from transferring more than 25% of their shares annually during their tenure as directors or senior management[65]. - The company will ensure that any share reductions post-lockup period will not be below the issuance price[66]. - The company has established a responsibility mechanism for water conservation in compliance with national regulations[58]. Financial Management and Risks - The company faces risks related to changes in industrial policies that could adversely affect the rail transit equipment demand[42]. - The company is exposed to market risks due to high customer concentration in the rail transit vehicle manufacturing sector[44]. - The company emphasizes the importance of maintaining product quality to avoid reputational damage and operational impacts[45]. - The successful implementation of fundraising investment projects is crucial for maintaining and enhancing the company's market position and product structure, with risks associated with project delays or failure to achieve expected benefits[48]. Financial Reporting and Accounting - The financial statements are prepared in accordance with the enterprise accounting standards, ensuring a true and complete reflection of the company's financial status[138]. - The company measures identifiable assets and liabilities acquired in a business combination at fair value on the acquisition date[143]. - The company prepares consolidated financial statements based on its own and subsidiaries' financial reports, reflecting the overall financial position and performance of the group[148]. - The company recognizes expected credit losses based on the risk of default weighted average of financial instruments, with the entire expected credit loss over the instrument's lifetime being considered[187].

2022 年第一季度报告 证券代码：605298 证券简称：必得科技 江苏必得科技股份有限公司 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、准确性和完整性依法承担法律责任。 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、主管会计工作负责人及会计机构负责人（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 1 / 11 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 41,335,928.76 -28.5 归属于上市公司股东的净利润 7,589,911.26 -12.41 归属于上市公司股东的扣除非经常性 损益的净利润 5,802,310.26 -33.15 经营活动产生的现金流量净额 -3,434,762.08 86.12 基本每股收益（元/股） 0.07 ...

Financial Performance - The company's operating revenue for 2021 was RMB 30,070.24 million, a decrease of 13.47% compared to RMB 34,749.96 million in 2020[19]. - The net profit attributable to shareholders for 2021 was RMB 8,452.61 million, down 19.11% from RMB 10,449.78 million in 2020[19]. - The net profit after deducting non-recurring gains and losses was RMB 8,410.91 million, a decrease of 15.15% compared to RMB 9,912.39 million in 2020[19]. - Basic earnings per share (EPS) for 2021 was 0.82 yuan, down 36.43% compared to 1.29 yuan in 2020[21]. - The company reported a total revenue of 300.70 million yuan in 2021, a decrease of 13.47% year-on-year[27]. - The company reported a revenue of CNY 300,702,370.74 for the reporting period, a decrease of 13.47% year-on-year, with net profit attributable to shareholders declining by 19.11% to CNY 84,526,082.04[38]. - The company reported a significant increase in capital reserves to CNY 459,037,603.11 from CNY 94,037,642.72, representing a growth of approximately 388.2%[168]. - The company’s total comprehensive income for 2021 was approximately ¥84.35 million, down from ¥107.13 million in 2020[177]. Cash Flow and Assets - The net cash flow from operating activities increased by 84.68% to RMB 10,100.80 million from RMB 5,469.47 million in 2020[19]. - Cash and cash equivalents at the end of the year increased by 327.28% compared to the previous year, totaling 485.22 million yuan[51]. - The net cash flow from operating activities was 101.01 million yuan, an increase of 84.68% year-on-year[49]. - Total assets increased to CNY 1,115,438,475.78 as of December 31, 2021, up from CNY 632,731,107.62 in 2020, representing a growth of approximately 76.2%[167]. - Current assets totaled CNY 839,519,441.20, a significant increase from CNY 494,931,603.12 in the previous year, reflecting a growth of about 69.5%[166]. - Total liabilities amounted to CNY 146,224,221.27, up from CNY 98,452,381.04, indicating a rise of approximately 48.6%[168]. - The company reported a financial income of CNY 12,133,861.46, compared to CNY 153,265.86 in the previous year[173]. Research and Development - The company invested 22.90 million yuan in R&D in 2021, representing a year-on-year increase of 17.43%[28]. - The company has developed multiple industry-leading products with independent intellectual property rights, including lightweight air ducts and obstacle detection systems, enhancing product competitiveness[34]. - Research and development expenses for 2021 were CNY 22,902,719.08, up from CNY 19,502,500.98 in 2020[173]. - The number of R&D personnel was 50, accounting for 15.02% of the total workforce[48]. Market and Customer Base - The number of railway passengers transported in 2021 was 2.533 billion, an increase of 16.9% from the previous year[27]. - The company is actively pursuing market expansion both domestically and internationally, with products used in cities like Istanbul, Singapore, and Mumbai[35]. - The company has established long-term partnerships with major domestic manufacturers such as CRRC Qingdao, CRRC Changchun, and Beijing Subway, ensuring a stable customer base[35]. - The top five customers contributed sales of 222.33 million yuan, accounting for 73.33% of the total annual sales[45]. Governance and Compliance - The board of directors operated in compliance with relevant laws and regulations, with all resolutions made during meetings being legal and effective[73]. - The company has established an independent accounting system and financial management practices, ensuring no interference from controlling shareholders in financial decisions[74]. - The company has not faced significant changes in competition from controlling shareholders or related parties, maintaining its operational independence[75]. - The company has no record of penalties from securities regulatory agencies in the past three years[86]. Future Plans and Strategies - The company plans to distribute a cash dividend of RMB 4 per 10 shares, totaling RMB 43.20 million based on a total share capital of 108 million shares[5]. - The company intends to increase its share capital by 3 shares for every 10 shares held, resulting in an increase of 32.40 million shares, bringing the total share capital to 140.40 million shares[5]. - The company aims to strengthen its existing business segments, particularly in traditional products like air conditioning and ventilation systems, while promoting new products such as intelligent control sand-spraying systems[58]. - The company plans to enhance its R&D capabilities by increasing investment and establishing a modern R&D testing system, supported by the "Bide Technology R&D Center Construction Project"[59]. Environmental and Social Responsibility - The company is committed to a green and low-carbon transformation across all lifecycle stages of transportation planning, design, construction, operation, and maintenance[55]. - The company has implemented measures to ensure compliance with environmental standards, including waste gas treatment and wastewater management[104]. - The company does not belong to the key pollutant discharge units and has not faced significant penalties for environmental issues during the reporting period[104]. Risks and Challenges - The company faces risks related to potential changes in national industrial policies that could impact the demand for rail transit equipment[61]. - The company operates in a highly concentrated market, with CRRC subsidiaries holding nearly 100% market share in high-speed and urban rail vehicle manufacturing, leading to high customer concentration risk[62]. - The company’s reliance on a limited number of large state-owned enterprises for sales increases the risk of revenue volatility if these clients change procurement strategies[62]. - The company faces risks related to the uncertainty of new product development and technological innovation, which could lead to project failures or market rejection[63].

Financial Performance - The company's operating revenue for Q3 2021 was ¥48,632,902.04, a decrease of 32.87% compared to the same period last year[5] - The net profit attributable to shareholders was ¥10,592,825.19, down 56.00% year-on-year[5] - Basic earnings per share decreased by 70.00% to ¥0.09[6] - Total revenue for the first three quarters of 2021 was CNY 229,497,908.94, a decrease of 9.5% compared to CNY 207,476,544.46 in the same period of 2020[17] - Net profit for the third quarter of 2021 was CNY 64,090,943.95, an increase of 11.5% from CNY 57,607,211.89 in the same quarter of 2020[18] - Total comprehensive income for the third quarter of 2021 was CNY 57,607,211.89, a decrease from CNY 64,090,943.95 in the same period of 2020, representing a decline of approximately 10.5%[19] - Basic earnings per share for the third quarter of 2021 was CNY 0.56, down from CNY 0.79 in the previous year, indicating a decrease of about 29.1%[19] Assets and Equity - The total assets increased by 62.44% to ¥1,027,778,496.58 compared to the end of the previous year[6] - The equity attributable to shareholders rose by 76.07% to ¥940,685,898.86[6] - Total assets as of the end of the third quarter of 2021 amounted to CNY 1,027,778,496.58, compared to CNY 632,731,107.62 at the end of the same period in 2020, representing a growth of 62.3%[17] - The company's equity attributable to shareholders reached CNY 940,685,898.86, up from CNY 534,278,726.58, indicating a growth of 76.1%[17] Cash Flow - Cash flow from operating activities for the year-to-date was ¥10,833,708.13, reflecting a significant increase of 133.57%[6] - Net cash flow from operating activities for the third quarter of 2021 was CNY 10,833,708.13, a significant improvement compared to a net outflow of CNY 32,276,025.12 in the same period of 2020[22] - Cash inflow from operating activities totaled CNY 138,538,822.99, while cash outflow was CNY 127,705,114.86, resulting in a net cash flow of CNY 10,833,708.13[22] - Total cash outflow for operating activities was CNY 127,705,114.86, a reduction from CNY 182,161,382.85 in the same period of 2020, reflecting improved cash management[22] - Cash flow from investing activities showed a net outflow of CNY 193,023,135.72 in the third quarter of 2021, compared to a net inflow of CNY 22,838,534.07 in the same period of 2020[23] - Cash flow from financing activities generated a net inflow of CNY 357,609,689.86 in the third quarter of 2021, contrasting with a net outflow of CNY 41,512,180.02 in the previous year[23] - The ending cash and cash equivalents balance as of the third quarter of 2021 was CNY 288,981,067.04, a significant increase from CNY 8,520,251.45 at the end of the third quarter of 2020[23] - The company received CNY 412,000,000.00 from financing activities, indicating strong capital inflow during the period[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 12,733[11] - The largest shareholder, Wang Jianqun, holds 53.33% of the shares, totaling 57,600,000 shares[11] Operational Challenges and Strategies - The decline in revenue and profit was attributed to the impact of the pandemic and reduced settlements from downstream customers[9] - The company received government subsidies amounting to ¥164,300.00 during the reporting period[8] - Research and development expenses for the first three quarters of 2021 were CNY 14,917,689.63, slightly down from CNY 15,949,793.91 in the same period of 2020[18] - The company reported an investment income of CNY 1,698,506.76 for the third quarter of 2021, compared to a loss in the previous year[18] - The company plans to expand its market presence and invest in new technologies to drive future growth[17] - The company has indicated a focus on improving operational efficiency and reducing costs in the upcoming quarters[17]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥158,843,642.42, representing a 1.14% increase compared to ¥157,047,094.12 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2021 was ¥47,014,386.70, a 17.49% increase from ¥40,017,281.32 in the previous year[17]. - Basic earnings per share for the first half of 2021 was ¥0.47, a decrease of 4.08% from ¥0.49 in the same period last year[18]. - The weighted average return on net assets decreased to 5.74% from 8.16% in the previous year, a decline of 2.42 percentage points[19]. - The net cash flow from operating activities was ¥7,775,708.35, a 2.65% increase from ¥7,574,882.35 in the same period last year[17]. - Operating costs decreased by 19.17% to CNY 64.34 million from CNY 79.60 million in the previous year[42]. - Research and development expenses were CNY 9.92 million, down 7.81% from CNY 10.76 million year-on-year[42]. - The company achieved operating revenue of CNY 158.84 million, a 1.14% increase compared to CNY 157.05 million in the same period last year[41]. Assets and Liabilities - Total assets rose by 61.86% to ¥1,024,110,495.08 compared to ¥632,731,107.62 at the end of the previous year[17]. - The net assets attributable to shareholders increased by 74.08% to ¥930,093,073.67 from ¥534,278,726.58 at the end of the previous year[17]. - Total current assets reached ¥754,514,927.79, making up 73.68% of total assets, an increase of 52.45% compared to the previous year[45]. - Total liabilities were ¥94,017,421.41, constituting 9.18% of total assets, down 4.50% from the previous year[45]. - Inventory decreased to ¥120,477,589.93, representing 11.76% of total assets, a decline of 7.90% year-over-year[45]. - Non-current assets totaled ¥269,595,567.29, which is 26.32% of total assets, up 95.64% from the previous year[45]. Research and Development - The company focuses on the manufacturing of railway vehicle components, specifically in the high-speed train and urban rail transit equipment sectors, with a strong emphasis on R&D and production of ventilation systems, cable protection systems, and intelligent control sand-spraying systems[23][24]. - The company has established a comprehensive R&D innovation system, collaborating with external universities and research institutions to enhance product development and production processes[28]. - The company has developed a range of innovative products with independent intellectual property rights, including a lightweight air duct and an intelligent control sand-spraying system, which are positioned as industry-leading technologies[27][29]. - The company has achieved multiple international certifications for its production processes, including ISO/TS22163:2017 and EN15085-2, enhancing its credibility in the market[24]. - Research and development expenses for the first half of 2021 were CNY 9,917,563.53, slightly down from CNY 10,757,786.81 in the previous year[108]. Shareholder and Capital Management - The company issued 27 million shares of public stock, which contributed to the increase in capital and reserves[19]. - The company has committed to various shareholder and management promises regarding stock transfer limitations and compliance with regulations[63]. - The company will not transfer or entrust the management of its shares for 36 months from the date of listing[71]. - The company will repurchase shares to stabilize stock prices, with the repurchase amount not exceeding 30% of the previous year's net profit attributable to shareholders[73]. - The company will report any shareholding changes and will limit annual transfers to 25% of total shares held[70]. - The company has approved the public issuance of 27 million shares, increasing the total share capital to 108 million shares[87]. Environmental and Regulatory Compliance - The company does not belong to the key pollutant discharge units announced by the environmental protection department and has not faced significant penalties for environmental issues during the reporting period[57]. - The main pollutants include organic waste gas from glue bonding and minor smoke from cutting processes, with a dedicated bonding room equipped with an activated carbon adsorption device for purification[57]. - Wastewater is primarily domestic sewage, treated to meet the Class I standard of the "Comprehensive Discharge Standard for Wastewater" (CB8978-1996) before being discharged into the municipal pipeline[57]. - The company has implemented measures to ensure that noise does not impact the surrounding environment, including the use of low-noise equipment and strategic layout of machinery[59]. - The company has not reported any measures taken to reduce carbon emissions during the reporting period[60]. Legal and Compliance Issues - There are no significant lawsuits or arbitration matters during the reporting period[79]. - The company has not received any penalties or corrective actions related to violations of laws and regulations during the reporting period[79]. - There are no significant related party transactions reported during the period[80]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[104]. - The company is focused on technological innovation and exploring new markets while solidifying its traditional business[38]. Accounting Policies - The financial statements are prepared in accordance with the enterprise accounting standards, reflecting the company's financial position, operating results, changes in shareholders' equity, and cash flows accurately[149]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired[155]. - Financial instruments are recognized when the company becomes a party to the contract, and derecognition occurs under specific conditions[192].

Financial Performance - Operating revenue for the period was CNY 57,813,587.75, a 42.64% increase from CNY 40,530,833.63 in the same period last year[6] - Net profit attributable to shareholders rose by 97.36% to CNY 8,665,160.86 compared to CNY 4,390,516.15 in the previous year[6] - Basic earnings per share doubled to CNY 0.10 from CNY 0.05 year-over-year[6] - The company reported a total profit of CNY 10,225,380.14 for Q1 2021, compared to CNY 5,258,749.82 in the same period last year, marking a 94% increase[24] - Operating profit for Q1 2021 was CNY 10,242,112.16, a significant rise from CNY 5,358,062.19 in Q1 2020[24] - Net profit for Q1 2021 reached CNY 8,665,160.86, representing a 97.5% increase from CNY 4,390,516.15 in Q1 2020[25] Assets and Liabilities - Total assets increased by 61.44% to CNY 1,021,508,219.66 compared to the end of the previous year[6] - The total liabilities decreased to ¥89,662,059.91 from ¥102,316,364.09, a reduction of 12.3%[21] - The company's total assets as of March 31, 2021, amounted to ¥1,032,374,470.47, compared to ¥644,187,571.68 at the end of 2020, indicating a growth of 60.3%[21] - The total amount of accounts receivable increased to ¥215,662,147.05, up from ¥192,860,503.88, reflecting higher sales activity[16] - Current assets totaled CNY 495,186,942.29, while non-current assets were CNY 149,000,629.39[39] Shareholder Information - The total number of shareholders at the end of the reporting period was 18,716[10] - The largest shareholder, Wang Jianqun, holds 53.33% of the shares, totaling 57,600,000 shares[10] - Shareholders' equity rose to ¥942,712,410.56 from ¥541,871,207.59, marking an increase of 73.9%[22] Cash Flow - The net cash flow from operating activities was negative at CNY -24,739,510.75, a decline of 154.30% compared to the previous year[6] - Cash flow from operating activities showed a net outflow of CNY -24,739,510.75 in Q1 2021, worsening from CNY -9,728,547.75 in Q1 2020[28] - The company raised CNY 405,230,000.00 from financing activities in Q1 2021, indicating strong capital inflow[28] - The company reported a total cash outflow from investing activities of CNY 71,632,936.82 in Q1 2021, compared to CNY 95,522,455.16 in Q1 2020[28] Expenses and Financials - Operating costs for Q1 2021 were ¥46,195,639.72, up from ¥34,778,805.06 in Q1 2020, reflecting a growth of 32.8%[22] - The company’s financial expenses showed a significant increase of 379.86%, with a net financial income of -¥1,009,856.89 due to increased interest income from time deposits[13] - Research and development expenses for Q1 2021 were ¥4,634,961.17, compared to ¥3,713,531.56 in Q1 2020, reflecting a growth of 24.8%[22] Inventory and Other Assets - The company reported an increase in inventory to ¥134,736,635.51 from ¥130,815,366.82, a rise of 3.0%[20] - Other non-current assets increased to ¥43,937,843.20, a 1,015.78% increase, primarily due to an increase in fixed-term deposits[12] - Construction in progress rose to ¥64,111,514.19, an 81.92% increase, indicating progress in funded projects[12]

Financial Performance - The company's operating revenue for 2020 was approximately RMB 347.50 million, representing an increase of 11.09% compared to RMB 312.81 million in 2019[21]. - The net profit attributable to shareholders for 2020 was approximately RMB 104.50 million, a decrease of 5.11% from RMB 110.13 million in 2019[22]. - The net cash flow from operating activities increased by 26.20% to approximately RMB 54.69 million, compared to RMB 43.34 million in 2019[22]. - The total assets at the end of 2020 were approximately RMB 632.73 million, reflecting a growth of 6.28% from RMB 595.32 million at the end of 2019[22]. - The net assets attributable to shareholders increased by 13.61% to approximately RMB 534.28 million, compared to RMB 470.28 million at the end of 2019[22]. - The basic earnings per share for 2020 were RMB 1.29, down 5.15% from RMB 1.36 in 2019[23]. - The weighted average return on equity decreased to 20.80% in 2020, down from 25.29% in 2019, a reduction of 4.49 percentage points[23]. - The company achieved operating revenue of ¥347,499,597.89, representing an increase of 11.09% compared to the previous year[55]. - The net profit attributable to shareholders was ¥104,497,805.54, a decrease of 5.11% year-on-year[55]. - Total assets reached ¥632,731,107.62, up 6.28% from the end of the previous period[55]. Cash Flow and Investments - The net cash flow from operating activities was ¥54,694,685.41, an increase of 26.20% year-on-year[57]. - The company's cash flow from investment activities increased by 157.02%, primarily due to the recovery of previous investment products[67]. - As of the end of the reporting period, cash and cash equivalents increased by 79.11% to ¥113.56 million compared to the previous year[70]. - The company has engaged in entrusted wealth management with a total amount of CNY 50,000,000 in structured deposits and CNY 307,000,000 in principal-protected floating income financial products[140]. - The annualized yield for a specific entrusted financial management product was 3.45%, resulting in an actual return of CNY 535,931.51[140]. Research and Development - The company invested ¥19,502,500.98 in R&D, a decrease of 7.45% compared to the previous year[57]. - The company focuses on R&D for rail transit vehicle components, continuously optimizing product types and production processes[30]. - The company has established a dedicated R&D team of 44 members, accounting for 13.29% of total employees[52]. - The company emphasizes innovation and has established a robust R&D innovation system, collaborating with universities and research institutions[41]. - The company has developed advanced products with independent intellectual property rights, such as the intelligent control sand-spraying system, which has significant market potential[40]. Market Position and Strategy - The company has maintained long-term partnerships with major manufacturers such as CRRC Qingdao and Beijing Subway, enhancing its market position[30]. - The production model is order-oriented, allowing for customized production based on specific customer requirements[32]. - The sales strategy involves direct sales through competitive bidding and negotiations, ensuring a robust order acquisition process[34]. - The company has achieved multiple international certifications, enhancing its credibility and marketability in the rail transit sector[30]. - The company has developed multiple rail transit vehicle supporting product series, including lightweight air ducts and intelligent control sand-spraying systems, enhancing product competitiveness[39]. Risks and Challenges - The company has outlined potential risks in its future development strategy, emphasizing the need for investors to be aware of investment risks[6]. - The company recognizes potential policy risks that could impact the railway transportation industry and its operations[83]. - The company faces risks related to the approval process for new rail transit construction projects, which could impact investment and subsequently affect the rail transit equipment manufacturing industry[84]. - The company is exposed to the risk of increased market competition as the rail transit equipment industry continues to attract new entrants due to favorable policies and strong market demand[86]. - The company relies heavily on a concentrated customer base, primarily state-owned enterprises, which poses a risk if these customers opt for centralized procurement methods[85]. Shareholder and Governance - The company plans to distribute a cash dividend of RMB 4 per 10 shares, totaling RMB 43.20 million, subject to shareholder approval[5]. - The actual controller of the company, Wang Jianqun, and his spouse Liu Ying hold 93.96% of the shares, which will decrease to 70.47% after the planned issuance of 27 million shares, maintaining absolute control[101]. - The company has a cash dividend policy that balances shareholder needs with long-term sustainable development[104]. - The company has established a complete production, supply, and sales system to minimize related party transactions[126]. - The company has a dedicated management system to prevent the controlling shareholder from occupying company funds, ensuring strict monitoring of fund flows[126]. Employee and Management Structure - The total number of employees in the parent company is 321, with a combined total of 331 employees including major subsidiaries[170]. - The professional composition includes 218 production personnel, 21 sales personnel, 44 technical personnel, 8 financial personnel, and 40 administrative personnel[170]. - The total remuneration for all directors, supervisors, and senior management is 5.1638 million[167]. - The company adheres to a "performance first, fairness considered" principle in its compensation policy, linking employee performance to bonuses to enhance motivation[171]. - The company has established a sound governance structure, with no significant violations or deficiencies reported during the reporting period[174]. Financial Statements and Audits - The company's financial statements for the year ended December 31, 2020, were audited and found to fairly reflect its financial position and operating results[183]. - The internal control audit conducted by Yongcheng Accounting Firm confirmed that the company maintained effective financial reporting internal controls as of December 31, 2020[179]. - The company is responsible for ensuring the financial statements are free from material misstatement due to fraud or error[186]. - The management is tasked with evaluating the company's ability to continue as a going concern[188].

Financial Performance - The company's operating revenue for 2020 was RMB 347,499,597.89, an increase of 11.09% compared to RMB 312,808,137.56 in 2019[21]. - The net profit attributable to shareholders for 2020 was RMB 104,497,805.54, a decrease of 5.11% from RMB 110,129,209.30 in 2019[22]. - The net cash flow from operating activities increased by 26.20% to RMB 54,694,685.41 in 2020, compared to RMB 43,339,482.25 in 2019[22]. - The total assets at the end of 2020 were RMB 632,731,107.62, reflecting a growth of 6.28% from RMB 595,322,369.36 at the end of 2019[22]. - The net assets attributable to shareholders increased by 13.61% to RMB 534,278,726.58 at the end of 2020, compared to RMB 470,280,921.04 at the end of 2019[22]. - The basic earnings per share for 2020 was RMB 1.29, down 5.15% from RMB 1.36 in 2019[23]. - The weighted average return on equity decreased to 20.80% in 2020 from 25.29% in 2019, a decline of 4.49 percentage points[23]. Cash Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 4 per 10 shares, totaling RMB 43.2 million, subject to shareholder approval[5]. - The net profit attributable to shareholders for the year 2020 was CNY 104,497,805.54, with a total distributable profit of CNY 313,821,868.20[105]. - The proposed cash dividend for 2020 is CNY 4 per 10 shares, totaling CNY 43,200,000.00, which represents 41.34% of the net profit attributable to shareholders[105]. - The cash dividend amount for 2019 was CNY 40,500,000.00, which accounted for 36.77% of the net profit[108]. - The cash dividend amount for 2018 was also CNY 40,500,000.00, representing 38.22% of the net profit[108]. - The company has established a cash dividend policy to balance shareholder interests with long-term sustainable development needs[104]. Operational Efficiency and Market Position - The company has maintained long-term partnerships with major manufacturers such as CRRC Qingdao and Beijing Subway, ensuring a stable customer base[30]. - The company focuses on R&D for rail transit vehicle components, with products certified by multiple international quality management systems[30]. - The production model is order-oriented, allowing for customized production based on specific customer requirements, enhancing flexibility[32]. - The sales strategy involves direct sales through competitive bidding and negotiations, ensuring a proactive approach to securing contracts[34]. - The company has successfully expanded its market presence, with products used in various domestic and international metro systems, including cities in Turkey and India[30]. - The company has established a comprehensive customer demand response mechanism, ensuring high efficiency in meeting diverse customer needs[46]. Research and Development - The company invested ¥19,502,500.98 in R&D, a decrease of 7.45% compared to the previous year[57]. - The company holds 47 various patents and has 33 invention patents pending, showcasing its strong R&D capabilities[42]. - The company focuses on technological innovation, continuously upgrading products to meet the personalized needs of downstream manufacturers[41]. - The company has developed advanced products such as the obstacle and derailment detection system, filling domestic technical gaps and having significant market potential[40]. - The company has a dedicated R&D team of 44 members, accounting for 13.29% of total employees[52]. Risk Factors - The company has outlined potential risks in its future development strategies, urging investors to remain aware of investment risks[6]. - The company acknowledges potential risks from changes in national industrial policies that could impact the railway transportation industry and its demand for equipment[83]. - The company is exposed to risks from a high concentration of customers, as major clients are primarily state-owned enterprises, which could adversely affect operational performance if procurement methods change[85]. - The company faces risks from fluctuations in raw material prices, which constitute a significant portion of production costs, potentially affecting profitability[91]. - The company faces risks related to the approval process for new rail transit construction projects, which could impact investment and operational performance if approvals are tightened[84]. Employee and Management Structure - The total number of employees in the parent company is 321, with a combined total of 331 employees including major subsidiaries[170]. - The professional composition includes 218 production personnel, 21 sales personnel, 44 technical personnel, 8 financial personnel, and 40 administrative personnel[170]. - The total remuneration for Wang Jianqun during the reporting period was 1.1673 million yuan[163]. - Liu Ying's total remuneration for the reporting period was 582,300 yuan[163]. - The total remuneration for all directors, supervisors, and senior management is 5.1638 million[167]. Governance and Compliance - The company has established a sound governance structure, with no significant legal violations or governance deficiencies reported during the reporting period[174]. - The board of directors and supervisory board operated in compliance with relevant laws and regulations, ensuring effective decision-making processes[175]. - The internal control audit conducted by Yongcheng Accounting Firm confirmed that the company maintained effective financial reporting internal controls as of December 31, 2020[179]. - The company has not reported any significant internal control deficiencies during the reporting period[179]. - The company has committed to ensuring that related party transactions are conducted fairly and transparently[126]. Market Trends and Future Outlook - The global railway market size was €183 billion (approximately ¥1,437.9 billion) in 2018, with an expected annual growth rate of 2.8% in the coming years[75]. - China's high-speed railway operating mileage reached 35,742 kilometers by January 2020, accounting for 68.22% of the world's total[75]. - The company aims to strengthen its existing business segments while promoting new products such as intelligent control sand-spraying systems and obstacle detection systems[79]. - Future guidance suggests a projected revenue increase of 46.39% for the upcoming fiscal year, reflecting optimistic market conditions[164]. - The company is exploring potential mergers and acquisitions to bolster its competitive position in the industry[164].