Financial Performance - The company's operating revenue for Q3 2022 was ¥101,056,350.77, a decrease of 25.39% compared to the same period last year[4]. - Net profit attributable to shareholders for Q3 2022 was ¥36,360,754.89, down 37.88% year-on-year[4]. - The net profit after deducting non-recurring gains and losses for Q3 2022 was ¥27,614,401.03, a decline of 38.61% compared to the previous year[4]. - Total operating revenue for the first three quarters of 2022 reached ¥344,462,004.61, an increase of 7.3% compared to ¥319,454,952.32 in the same period of 2021[19]. - Net profit for the first three quarters of 2022 was ¥128,459,737.14, down 9.8% from ¥142,482,055.00 in the previous year[21]. - Basic earnings per share for Q3 2022 was ¥0.2157, a decrease of 55.63% year-on-year[5]. - Basic earnings per share for the first three quarters of 2022 was ¥0.76, compared to ¥1.18 in the same period of 2021[23]. - The total profit for Q3 2022 was CNY 140.09 million, down from CNY 169.67 million in Q3 2021, representing a decline of about 17.5% year-over-year[30]. - The company’s total comprehensive income for Q3 2022 was CNY 122.42 million, compared to CNY 187.83 million in Q3 2021, indicating a decrease of approximately 34.7%[31]. Research and Development - R&D investment totaled ¥12,084,451.16 in Q3 2022, representing 11.96% of operating revenue, an increase of 4.30 percentage points year-on-year[5]. - The company plans to continue increasing R&D investment to enhance product development capabilities[10]. - Research and development expenses increased to ¥33,564,801.60, up from ¥25,058,383.88, marking a rise of 33.9%[21]. - Research and development expenses increased to CNY 26.66 million in Q3 2022 from CNY 19.11 million in Q3 2021, marking a rise of about 39.5% year-over-year[30]. Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was ¥33,309,593.21, down 53.60% compared to the previous year[5]. - Cash flow from operating activities for the first three quarters of 2022 was ¥33,309,593.21, significantly lower than ¥71,780,559.56 in 2021[25]. - The company reported a decrease in cash flow from operating activities, with a net cash flow of -51,421,977.38 RMB compared to an increase of 105,567,705.50 RMB in the previous year[26]. - Cash inflow from investment activities totaled ¥675,020,101.62, a decrease from ¥703,782,555.35 in the previous year[25]. - Cash flow from investment activities showed a net outflow of CNY 193.82 million in Q3 2022, compared to a net inflow of CNY 29.27 million in Q3 2021[34]. - Cash and cash equivalents decreased to CNY 590,312,893.79 from CNY 641,747,746.70, indicating a decline of about 8.0%[15]. - Cash and cash equivalents at the end of the period totaled 545,311,846.45 RMB, down from 630,791,623.56 RMB year-over-year[26]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,282,258,976.01, an increase of 9.49% from the end of the previous year[5]. - The company's current assets totaled CNY 1,591,164,783.60, compared to CNY 1,513,635,079.85 in the previous year, reflecting a growth of approximately 5.1%[15]. - Total liabilities rose to CNY 391,216,771.34 from CNY 250,152,317.78, marking an increase of about 56.5%[18]. - The company's equity totaled 1,873,971,888.82 RMB, up from 1,823,279,509.09 RMB year-over-year[28]. - The company's total liabilities rose to 397,965,067.59 RMB, compared to 287,185,647.52 RMB in the previous year, indicating a significant increase[28]. - Short-term borrowings surged to CNY 150,965,361.31 from CNY 14,678,272.68, indicating a significant increase[18]. - The equity attributable to shareholders increased to CNY 1,893,239,002.09 from CNY 1,836,964,049.10, showing a growth of approximately 3.1%[18]. Shareholder Information - The company reported a total of 1,527,481 individual shareholders as of the reporting date[12]. - There were no significant changes in the top ten shareholders or their shareholding status[12]. - The company has not disclosed any significant new strategies or product developments during the reporting period[13].

Financial Performance - The company's operating revenue for Q3 2022 was ¥101,056,350.77, a decrease of 25.39% compared to the same period last year[4] - The net profit attributable to shareholders for Q3 2022 was ¥36,360,754.89, down 37.88% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥27,614,401.03, a decrease of 38.61% compared to the previous year[4] - The basic earnings per share for Q3 2022 was ¥0.2157, reflecting a decline of 55.63% year-on-year[5] - Net profit for Q3 2022 was ¥128,459,737.14, a decrease of 9.8% from ¥142,482,055.00 in Q3 2021[19] - Operating profit for Q3 2022 was ¥139,117,111.66, down 35.2% from ¥214,845,680.05 in Q3 2021[27] - Net profit for Q3 2022 was ¥122,418,682.78, a decline of 34.8% compared to ¥187,825,558.32 in Q3 2021[28] - Basic earnings per share for Q3 2022 were ¥0.76, down from ¥1.18 in Q3 2021[19] Research and Development - The total R&D investment for Q3 2022 was ¥12,084,451.16, which accounted for 11.96% of operating revenue, an increase of 4.30 percentage points year-on-year[5] - R&D expenses for Q3 2022 amounted to ¥33,564,801.60, an increase of 33.8% compared to ¥25,058,383.88 in Q3 2021[18] - The company plans to continue increasing R&D investment to drive future growth[10] - The company plans to invest 200 million yuan in R&D for new technologies over the next two years[32] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,282,258,976.01, representing a 9.49% increase from the end of the previous year[5] - The company's total current assets as of September 30, 2022, amount to ¥1,591,164,783.60, an increase from ¥1,513,635,079.85 at the end of 2021[14] - The total assets of the company as of September 30, 2022, are ¥2,282,258,976.01, compared to ¥2,084,461,088.36 at the end of 2021[15] - The total liabilities of the company as of September 30, 2022, are ¥301,215,186.56, compared to ¥206,445,570.60 at the end of 2021[15] - The total liabilities as of Q3 2022 were ¥391,216,771.34, compared to ¥250,152,317.78 in the previous year, reflecting a significant increase[18] - The company's total liabilities increased to ¥397,965,067.59 in Q3 2022 from ¥287,185,647.52 in Q3 2021, representing an increase of 38.6%[27] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥33,309,593.21, down 53.60% compared to the previous year[5] - Cash flow from operating activities for the first three quarters of 2022 was ¥39,278,644.87, down from ¥43,741,014.29 in the same period of 2021[29] - Net cash inflow from operating activities was CNY 33,309,593.21, a decrease of 53.6% compared to CNY 71,780,559.56 in the previous year[20] - The company reported a net cash outflow from investing activities of ¥193,819,865.11 in Q3 2022, compared to a net inflow of ¥49,644,659.69 in Q3 2021[31] Market and Growth Strategy - The company reported a revenue of 1.2 billion yuan for Q3 2022, representing a year-over-year growth of 15%[32] - User data indicates an increase in active users by 25% compared to the previous quarter, reaching 5 million active users[32] - The company provided a future outlook with a revenue guidance of 1.5 billion yuan for Q4 2022, expecting a growth rate of 20% year-over-year[32] - New product development includes the launch of a next-generation harmonic drive, projected to increase market share by 10%[32] - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in sales in that region by the end of 2023[32] - A strategic acquisition of a local competitor was completed, expected to enhance production capacity by 40%[32] Operational Efficiency - The gross margin for Q3 2022 improved to 35%, up from 30% in the previous quarter[32] - The company aims to reduce operational costs by 15% through efficiency improvements in the supply chain[32] - A new marketing strategy is set to increase brand awareness, with a budget allocation of 50 million yuan for digital campaigns[32]

Financial Performance - The company's revenue for the first half of 2022 was CNY 243,405,653.84, representing a 32.28% increase compared to the same period last year[16]. - The net profit attributable to shareholders for the first half of 2022 was CNY 91,640,501.15, which is a 9.87% increase year-on-year[16]. - The company's operating revenue for the first half of 2022 was approximately ¥243.41 million, representing a year-on-year increase of 32.28% compared to ¥184.01 million in the same period last year[66]. - The gross profit margin for the first half of 2022 was 50.96%, with a slight decrease from 52.52% in the previous year, indicating potential volatility in profitability due to market conditions[65]. - The company achieved a quarter-on-quarter revenue growth of 59.35% in Q2 2022 compared to Q1 2022, following the easing of pandemic restrictions[57]. - The total comprehensive income for the first half of 2022 was approximately ¥92.09 million, compared to ¥83.70 million in the same period of 2021, an increase of 10.6%[136]. Research and Development - The R&D expenditure as a percentage of revenue increased to 8.82%, up from 7.98% in the previous year[18]. - The company reported a total of 21,480,350.44 CNY in R&D expenses for the current period, representing a 46.22% increase compared to 14,690,313.74 CNY in the same period last year[45]. - The company has developed a new "P-type gear" design for harmonic reducers, significantly improving output efficiency and load torque, achieving leading domestic performance in key metrics such as backlash and positioning accuracy[38]. - The company has established several research centers and partnerships with universities to enhance its R&D capabilities, including the Jiangsu Provincial Harmonic Reducer Engineering Research Center[51]. - The company is focusing on developing new products and technologies to meet the growing demand in various industries, including robotics and precision machinery[47]. Product Development and Innovation - The company specializes in precision transmission devices, including harmonic reducers and mechatronic actuators, widely used in high-end manufacturing sectors[21]. - The company has achieved industrial production and large-scale application of harmonic reducers, breaking the monopoly of international brands in the domestic market[21]. - The E series harmonic reducers have improved vibration performance and oil leakage prevention by 3-5 times compared to previous products[23]. - The company has integrated a high-torque motor, third-generation harmonic reducer, and hydraulic brake into a compact unit, providing high rigidity, precision, and large output torque capabilities[39]. - The company has launched a modular harmonic drive CNC turntable technology, which features high performance and ease of installation, suitable for a wide range of applications[39]. Market Position and Strategy - The domestic harmonic reducer industry is in a growth phase, with rapid market growth and a significant supply gap in core components like precision harmonic reducers[33]. - The company has established a competitive advantage in the industrial robot harmonic reducer sector, significantly reducing procurement costs and cycles for domestic robot manufacturers[35]. - The global industrial robot reducer market is dominated by Harmonic Drive and Nabtesco, which hold approximately 70% market share[35]. - The company is actively expanding its production capacity despite challenges posed by the pandemic, aiming to enhance its market position[59]. - The company is focusing on improving technical service capabilities to meet rising demands from downstream customers for system solutions[36]. Financial Health and Risks - The net cash flow from operating activities decreased by 47.27% to CNY 28,381,821.76, primarily due to increased cash outflows related to production and R&D[18]. - The company faced a significant increase in short-term borrowings, which rose by 445.28% to approximately ¥80.04 million, indicating a potential liquidity risk[69]. - The company reported a decrease in other current liabilities to ¥23,790,210.10 from ¥36,413,042.62, a reduction of about 34.7%[129]. - The company is at risk of losing core technical personnel due to increased competition for talent in the industry, which could impact its technological advantage[61]. - The company’s comprehensive gross profit margin may decline due to factors such as market environment changes and rising costs, which could significantly affect profitability[65]. Shareholder and Capital Management - The company has committed to stabilizing its stock price for three years following its A-share listing, with specific conditions for initiating and halting stabilization measures[90]. - The company will repurchase shares if the stock price falls below the latest audited net asset value for 20 consecutive trading days, with a maximum repurchase limit of 3% of total shares[91]. - Major shareholder Zuo Jing increased holdings by 9,826,611 shares, holding a total of 34,382,637 shares, representing 20.40% of total shares[122]. - The company has not reported any significant changes in shareholder structure or other major events during the reporting period[114]. - The company has not disclosed any significant equity or non-equity investments during the reporting period[71]. Compliance and Environmental Responsibility - There were no environmental penalties or violations reported during the reporting period, indicating compliance with environmental regulations[78]. - The company has installed and utilized exhaust gas treatment equipment in workshops and on rooftops, effectively improving exhaust emissions[80]. - Energy-saving measures, including the renovation of lighting and the consolidation of air compressors, have reduced electricity consumption[80]. - Throughout 2022, the company strictly adhered to safety and environmental management systems, resulting in no major safety or environmental incidents[80]. - The company promotes a paperless office initiative, encouraging double-sided printing and the reuse of single-sided waste paper[80]. Accounting and Financial Reporting - The financial statements comply with the requirements of the enterprise accounting standards, reflecting the company's financial position and operating results accurately[168]. - The company adopts a 12-month operating cycle for the classification of assets and liabilities[169]. - The company has established specific accounting policies and estimates based on its actual production and operational characteristics, including provisions for bad debts and inventory valuation methods[167]. - The company recognizes its share of assets and liabilities in joint operations according to relevant accounting standards, confirming individually held assets and liabilities as well as shared ones[173]. - The company assesses expected credit losses for receivables based on significant increases in credit risk, with provisions calculated for the entire lifetime of the asset if credit risk has significantly increased[182].

Financial Performance - The company's operating revenue for Q1 2022 was ¥93,853,241.98, representing a year-on-year increase of 22.01%[4] - The net profit attributable to shareholders was ¥36,504,004.64, with a slight increase of 0.18% compared to the same period last year[4] - The net profit after deducting non-recurring gains and losses was ¥26,482,567.86, reflecting a growth of 10.78% year-on-year[4] - Total profit for Q1 2022 reached approximately 43.32 million, compared to 43.08 million in Q1 2021, reflecting a year-over-year increase of about 0.56%[20] - Net profit for Q1 2022 was approximately 36.63 million, slightly up from 36.45 million in Q1 2021, indicating a growth of about 0.47%[20] - The total comprehensive income for Q1 2022 was approximately 36.63 million, compared to 36.45 million in Q1 2021, marking a year-over-year increase of about 0.49%[21] - Basic earnings per share for Q1 2022 were 0.3031, a marginal increase from 0.3026 in Q1 2021[21] Cash Flow - The net cash flow from operating activities decreased by 60.21% to ¥9,121,720.37[4] - Cash flow from operating activities for Q1 2022 was approximately 9.12 million, down from 22.93 million in Q1 2021, representing a decline of about 60%[24] - Cash inflow from investment activities in Q1 2022 was approximately 151.46 million, compared to 88.76 million in Q1 2021, showing an increase of about 70.5%[24] - Cash outflow from investment activities for Q1 2022 was approximately 146.08 million, up from 105.27 million in Q1 2021, indicating an increase of about 38.8%[24] - Net cash flow from financing activities for Q1 2022 was approximately -10.09 million, compared to -9.98 million in Q1 2021, reflecting a slight increase in cash outflow[25] - The ending cash and cash equivalents balance for Q1 2022 was approximately 600.89 million, up from 521.39 million at the end of Q1 2021, representing an increase of about 15.2%[25] Research and Development - R&D expenses totaled ¥11,474,642.00, an increase of 69.64% year-on-year, accounting for 12.23% of operating revenue, up by 3.43 percentage points[6] - Research and development expenses rose to RMB 11,474,642.00 in Q1 2022, compared to RMB 6,764,247.24 in Q1 2021, marking a 70% increase[18] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,094,739,836.72, a slight increase of 0.49% from the end of the previous year[6] - The total assets of the company reached RMB 2,094,739,836.72 as of March 31, 2022, compared to RMB 2,084,461,088.36 at the end of 2021[17] - The total liabilities decreased to RMB 221,626,237.92 in Q1 2022 from RMB 250,152,317.78 in the previous year[16] - The equity attributable to shareholders increased to RMB 1,875,644,846.85 in Q1 2022 from RMB 1,836,964,049.10 in Q1 2021[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 6,996[10] - The top shareholder, Zuo Yuyu, holds 24,559,026 shares, representing 20.40% of the total shares[11] Other Financial Metrics - The weighted average return on equity was 1.97%, a decrease of 0.18 percentage points compared to the previous year[6] - Non-recurring gains and losses amounted to ¥10,021,436.78, with government subsidies contributing ¥8,094,096.17[8] - The total operating costs for Q1 2022 were RMB 59,067,848.75, up from RMB 43,214,763.59 in Q1 2021, reflecting a 37% increase[18] - The company reported a decrease in accounts payable to RMB 76,714,725.30 in Q1 2022 from RMB 87,820,805.66 in Q1 2021, a reduction of approximately 13%[16] - The company’s inventory increased to RMB 197,470,962.72 in Q1 2022 from RMB 179,218,565.95 in Q1 2021, reflecting an increase of about 10%[15] - The company’s short-term borrowings decreased significantly to RMB 4,658,838.21 in Q1 2022 from RMB 14,678,272.68 in Q1 2021, a reduction of approximately 68%[16] - Interest income for Q1 2022 was approximately 4.93 million, a slight decrease from 4.97 million in Q1 2021[20]

Financial Performance - The company's operating revenue for 2021 reached ¥443,351,434.70, representing a 104.77% increase compared to ¥216,512,126.89 in 2020[17]. - Net profit attributable to shareholders was ¥189,183,607.41, a 130.56% increase from ¥82,052,568.36 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was ¥146,908,315.28, showing a significant growth of 214.47% compared to ¥46,715,797.35 in 2020[17]. - Basic earnings per share increased to ¥1.5711, up 92.13% from ¥0.8177 in 2020[18]. - The weighted average return on net assets rose to 10.79%, an increase of 2.53 percentage points from 8.26% in 2020[18]. - Cash flow from operating activities decreased by 63.81% to ¥45,588,086.41, down from ¥125,971,090.88 in 2020, primarily due to increased cash outflows related to business expansion and R&D[18]. - The total assets at the end of 2021 were ¥2,084,461,088.36, reflecting a 15.86% increase from ¥1,799,062,665.22 at the end of 2020[17]. - The net assets attributable to shareholders increased to ¥1,836,964,049.10, a 9.59% rise from ¥1,676,180,806.34 in 2020[17]. - The company reported a total of ¥42,275,292.13 in non-recurring gains for 2021, compared to ¥35,336,771.01 in 2020[21]. Dividend and Capital Increase - The company plans to distribute a cash dividend of RMB 6.5 per 10 shares, totaling RMB 78,270,855, which accounts for 41.37% of the net profit attributable to shareholders for 2021[4]. - The company will also increase its capital stock by 4 shares for every 10 shares held, resulting in a total increase of 48,166,680 shares, changing the total share capital to 168,583,380 shares[4]. Research and Development - Continuous investment in R&D has been emphasized, focusing on precision harmonic reducers and mechatronic products to strengthen core product quality[25]. - R&D expenses for the current year amounted to ¥41,160,042.68, representing a 71.32% increase from ¥24,025,548.48 in the previous year[51]. - The company has 106 R&D personnel, an increase from 83 in the previous year, with R&D personnel now making up 11.43% of the total workforce[56]. - The average salary of R&D personnel increased to ¥17.26 from ¥14.24 in the previous year, reflecting a rise in compensation[56]. - The company is currently developing several projects, including a high-precision harmonic reducer with an expected total investment of ¥574 million, with ¥289.73 million invested in the current period[53]. Market Position and Product Development - The company has established a strong brand presence in the precision transmission sector, becoming a leading domestic enterprise in harmonic reducers[26]. - The product portfolio includes harmonic reducers, mechatronic products, and hydraulic products, widely used in high-end manufacturing fields[27]. - The company has accumulated a strong client base in high-end equipment industries such as industrial robots and CNC machine tools, enhancing its brand recognition in the international market[42]. - The company is expanding its product offerings to include integrated reduction modules and servo drive systems, enhancing its competitive edge in the market[63]. Governance and Compliance - The company has established a governance structure that complies with the Company Law and relevant regulations, ensuring independent operation from its controlling shareholder[102]. - The company has not experienced any violations related to insider trading or regulatory actions during the reporting period[101]. - The company has implemented a strict information disclosure policy, ensuring all disclosures are accurate, complete, and timely[106]. - The company has established specialized committees under the board, including nomination, audit, compensation, and strategy committees, to support scientific decision-making[103]. Employee Relations and Incentives - The company has implemented a performance management system to motivate employees and align their interests with corporate goals[139]. - The company has established a stock incentive plan for 2021, involving 225,000 restricted shares, representing 0.19% of the total shares, with 166 participants[144]. - The company has provided various employee benefits, including commercial insurance and wellness programs, to enhance employee satisfaction[140]. Environmental and Social Responsibility - The company has integrated ESG practices into daily operations, focusing on social responsibility and environmental protection[151]. - The company has implemented measures to reduce emissions, including installing waste gas treatment equipment and promoting energy-saving initiatives[157]. - The company contributed 6.89 million yuan to rural poverty alleviation as part of its social responsibility efforts[158]. Risks and Challenges - The company faces risks related to product R&D investment, technology leakage, and potential loss of core technical personnel, which could impact its competitive advantage[64]. - Future performance may be impacted by macroeconomic factors, industry policies, and demand fluctuations in downstream sectors such as automotive and 3C electronics[68]. - The company faces potential risks from intensified market competition, particularly from international industry giants in the harmonic reducer sector[67]. Financial Management and Investments - The company reported a total of 407 million RMB in bank wealth management products from its own funds, with an outstanding balance of 127 million RMB[199]. - The company also invested 1.107 billion RMB in bank wealth management products using idle raised funds, with an outstanding balance of 308 million RMB[199]. - The company has retained Tianheng Accounting Firm for its financial and internal control audits, with an audit fee of 477,000 RMB for the year[193].

Financial Performance - Revenue for Q3 2021 reached ¥135,449,396.39, an increase of 124.27% compared to the same period last year[4] - Net profit attributable to shareholders was ¥58,536,303.84, reflecting a year-on-year growth of 98.88%[4] - Net profit excluding non-recurring gains and losses for the period was ¥44,982,063.31, up 160.32% year-on-year[4] - Basic earnings per share for Q3 2021 was ¥0.49, a 65.73% increase compared to the same period last year[5] - Total operating revenue for the first three quarters of 2021 reached ¥319,454,952.32, a significant increase of 114.4% compared to ¥148,791,089.69 in the same period of 2020[18] - Operating profit for the third quarter of 2021 was ¥166,704,302.34, up from ¥71,947,057.16 in the previous year, reflecting a growth of 131.7%[20] - Net profit for the first three quarters of 2021 was ¥142,482,055.00, compared to ¥63,332,619.74 in the same period of 2020, marking an increase of 125.5%[21] - Basic earnings per share for the third quarter of 2021 were ¥1.1787, compared to ¥0.6778 in the same quarter of 2020, representing a growth of 74.0%[22] - The company reported a total comprehensive income of ¥142,482,055.00 for the third quarter of 2021, compared to ¥63,332,619.74 in the same quarter of 2020[22] Research and Development - Total R&D investment for the quarter was ¥10,368,070.14, representing a 61.78% increase year-on-year[5] - The company plans to continue enhancing R&D efforts to support future growth and product development[10] - Research and development expenses for the first three quarters of 2021 totaled ¥25,058,383.88, up 46.0% from ¥17,157,376.58 in the previous year[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,033,799,631.56, a 13.05% increase from the previous year[5] - The total current assets as of September 30, 2021, amount to ¥1,497,358,743.94, an increase from ¥1,487,316,073.30 at the end of 2020[15] - Cash and cash equivalents increased to ¥630,791,623.56 from ¥525,223,918.06 year-over-year[15] - Accounts receivable rose to ¥61,194,986.35 from ¥39,697,620.97, indicating a growth of approximately 54%[15] - The total assets as of September 30, 2021, are ¥2,033,799,631.56, compared to ¥1,799,062,665.22 at the end of 2020[16] - Short-term borrowings increased significantly to ¥46,120,959.42 from ¥9,900,000.00[16] - The total liabilities increased to ¥207,973,700.85 from ¥87,615,159.78, reflecting a substantial rise in financial obligations[16] - Total liabilities as of the end of the third quarter of 2021 amounted to ¥248,690,257.53, compared to ¥126,331,171.19 at the end of the previous year[20] - Total equity attributable to shareholders of the parent company increased to ¥1,788,017,415.24 from ¥1,676,180,806.34 year-over-year[20] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥71,780,559.56, showing a decline of 13.17%[5] - Cash inflow from operating activities for the first three quarters of 2021 was ¥279,882,696.25, an increase from ¥191,341,453.89 in the same period of 2020[23] - The net cash flow from operating activities was $71,780,559.56, a decrease of 13.5% compared to $82,663,813.41 in the previous year[24] - The total cash inflow from investment activities was $703,782,555.35, up from $428,546,163.84, representing a 64.1% increase year-over-year[24] - The cash outflow for investment activities was $674,960,415.82, down 22.2% from $867,034,137.85 in the previous year[24] - The net cash flow from financing activities was $5,393,419.27, a significant decrease from $957,698,510.10 in the previous year[24] - The total cash and cash equivalents at the end of the period amounted to $630,791,623.56, slightly up from $626,639,379.84[25] - The company reported a net increase in cash and cash equivalents of $105,567,705.50, compared to a much higher increase of $601,522,586.50 in the previous year[25] - The cash paid to employees was $79,496,358.61, an increase from $48,713,468.04, indicating a rise in workforce costs[24] - The cash paid for taxes was $20,611,480.71, up from $14,671,924.01, reflecting higher tax obligations[24] - The cash received from investment income was $23,299,912.94, compared to $10,011,476.19, showing a significant increase in investment returns[24] - The cash paid for fixed assets and intangible assets was $117,060,415.82, a substantial increase from $24,925,478.96, indicating increased capital expenditures[24] Shareholder Information - The total number of common shareholders at the end of the reporting period is 5,794[11] - The top two shareholders, 左昱昱 and 左晶, each hold 24,559,026 shares, representing 20.40% of the total shares[11] - The company has no reported related party transactions among the top shareholders, except for the relationship between 左昱昱 and 左晶 as acting in concert[12] Strategic Outlook - The company has not disclosed any new strategies or future outlook in the provided documents[13] - The company attributed revenue growth to increased market demand for harmonic reducers and proactive expansion efforts[9]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥184,005,555.93, representing a 108.16% increase compared to ¥88,394,862.24 in the same period last year[16]. - Net profit attributable to shareholders was ¥83,404,480.06, up 144.98% from ¥34,045,900.40 year-on-year[16]. - The net profit after deducting non-recurring gains and losses increased by 277.14%, amounting to ¥64,166,888.27 compared to ¥17,014,006.85 in the previous year[16]. - The net cash flow from operating activities grew by 98.07%, totaling ¥53,827,108.26, driven by increased sales collections[16]. - Basic and diluted earnings per share rose by 83.71% to ¥0.6926, compared to ¥0.3770 in the same period last year[18]. - The gross profit margin for the first half of 2021 was 51.49%, with a slight decline from 49.37% in the previous year, indicating potential risks from market fluctuations and cost increases[73]. - The company reported a significant increase in financing activities, with net cash flow from financing activities rising by 263.04% to ¥10,038,116.34, compared to a negative cash flow in the previous year[78]. - The company’s reliance on harmonic reducers is high, with 94.49% of revenue coming from this product line, indicating vulnerability to market demand fluctuations[73]. Research and Development - Research and development expenses accounted for 7.98% of operating revenue, down from 12.16% in the previous year, a decrease of 4.18 percentage points[18]. - The company achieved a 36.67% increase in R&D expenses, totaling approximately ¥14.69 million, primarily due to salary increases for R&D personnel[50]. - The company obtained 13 new patents during the reporting period, including 1 foreign invention patent and 11 utility model patents[48]. - The company has developed a new "P-type gear" that significantly enhances the output efficiency and load torque of harmonic reducers, achieving leading domestic performance levels[46]. - The company has established a high-efficiency, high-precision automatic testing system for harmonic reducers, which is now patented[46]. - The company is focusing on lightweight precision harmonic reducers, utilizing new materials and processes to meet environmental and energy-saving demands[46]. - The company has created a 3D simulation system for harmonic reducers, facilitating convenient and efficient modeling and analysis[46]. Market Position and Strategy - The company specializes in precision transmission devices, including harmonic reducers and mechatronic actuators, widely used in high-end manufacturing sectors such as industrial robots and aerospace[23]. - The company aims to expand its market presence and enhance product offerings through ongoing technological advancements and new product development[23]. - The company has established a strong brand reputation in the precision transmission field through continuous R&D investment and strict quality control[23]. - The domestic harmonic reducer industry has seen an increase in manufacturers and improved technical levels, successfully breaking the monopoly of international brands in the domestic market[38]. - The company has established a strong brand presence and competitive advantage in the domestic industrial robot harmonic reducer segment, gaining access to high-quality clients in advanced equipment sectors[39]. Environmental and Social Responsibility - The company has implemented strict environmental measures, ensuring that wastewater and waste gas meet national discharge standards[94]. - The company is actively working to reduce carbon emissions through equipment upgrades and smart energy management systems[94]. - The company has committed to supporting national ecological civilization goals, aiming for carbon peak by 2030 and carbon neutrality by 2060[94]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[95]. - The company reported no pollution incidents or violations of environmental regulations during the reporting period[95]. Corporate Governance and Shareholder Information - The company elected Zhang Yuwen as a non-independent director and Zhang Chenghui as an independent director during the 2021 first extraordinary general meeting[88]. - The company did not propose any profit distribution or capital reserve transfer plans for the first half of 2021[91]. - The company has committed to not transferring or entrusting others to manage its shares for 36 months from the date of its initial public offering[98]. - The company will announce any planned share reductions by shareholders three trading days in advance, detailing the reasons and potential impacts[109]. - The company’s board of directors is responsible for announcing the stock repurchase plan, including details such as the number of shares and repurchase price range[105]. Financial Position - Total assets at the end of the reporting period were ¥1,926,767,304.76, reflecting a 7.10% increase from ¥1,799,062,665.22 at the end of the previous year[17]. - The total liabilities at the end of the reporting period were 631,830,471.41 RMB[171]. - The company’s total equity at the end of the reporting period was 1,676,180,806 RMB[176]. - The company reported a decrease in general risk reserves of 30,104,200 RMB[171]. - The total comprehensive income for the period was 81,271,642.55 RMB[176].

Financial Performance - The company's operating revenue for 2020 was RMB 216,512,126.89, representing a 16.47% increase compared to RMB 185,900,985.92 in 2019[20]. - The net profit attributable to shareholders of the listed company reached RMB 82,052,568.36, a 40.31% increase from RMB 58,478,328.39 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 46,715,797.35, up 17.56% from RMB 39,738,353.33 in 2019[20]. - The net cash flow from operating activities surged to RMB 125,971,090.88, a significant increase of 287.87% compared to RMB 32,477,360.19 in 2019[20]. - The total assets of the company at the end of 2020 were RMB 1,799,062,665.22, reflecting a 147.31% increase from RMB 727,446,639.84 at the end of 2019[20]. - The net assets attributable to shareholders of the listed company increased to RMB 1,676,180,806.34, a 165.29% rise from RMB 631,830,471.41 in 2019[20]. - Basic earnings per share increased by 26.29% to CNY 0.8177 in 2020 compared to CNY 0.6475 in 2019[21]. - Net profit grew by 40.31% in 2020, primarily due to an increase in operating profit[21]. - The comprehensive gross profit margin for the past three years was 47.18%, 49.37%, and 48.83%, indicating a relatively stable performance[77]. Dividend and Shareholder Returns - The proposed cash dividend for 2020 is RMB 2.50 per 10 shares, totaling RMB 30,104,175, which accounts for 36.69% of the net profit attributable to shareholders[5]. - The company has committed to a cash dividend policy that balances investor returns with sustainable development, as outlined in its articles of association[128]. Research and Development - The company achieved a total R&D investment of ¥24,025,548.48, a decrease of 0.87% compared to the previous year[54]. - R&D investment accounted for 11.10% of total revenue, down from 13.04% in the previous year, representing a decrease of 1.94 percentage points[54]. - The company obtained 22 new patents during the reporting period, including 3 invention patents and 19 utility model patents[52]. - The company has accumulated a total of 178 patent applications, with 96 patents granted to date[52]. - The company has developed several advanced technologies, including a new "P-type gear" design that significantly improves output efficiency and load torque of harmonic reducers[50]. - The company has established several research centers and partnerships with universities to enhance its R&D capabilities[64]. Market Position and Products - The company has established a strong brand presence in the precision transmission sector, becoming a leading domestic enterprise in the field[29]. - The main products include harmonic reducers, mechatronic actuators, and precision components, widely used in high-end manufacturing sectors[29]. - The harmonic reducer industry in China is in a growth phase, with a significant supply gap in core components for industrial robots[44]. - The company has established a competitive advantage in the harmonic reducer market by achieving scale production and reducing procurement costs for domestic robot manufacturers[46]. - The global market for harmonic reducers is dominated by companies like Harmonic Drive and Nabtesco, which hold approximately 70% market share[46]. Production and Operations - The production model is based on "sales-driven production with safety stock," primarily utilizing in-house manufacturing while outsourcing some routine processing operations[36]. - The company operates a self-manufacturing model for its products, controlling the entire production process from order demand to product delivery[37]. - The company has implemented lean management and automated production processes, improving production efficiency and product stability[68]. - The company has achieved full industry chain coverage for harmonic reducers, allowing for better control over product performance and quality while reducing production costs[70]. Financial Management and Investments - The company reported a net cash flow from financing activities of ¥951,993,150.92, a substantial increase of 10,930.14% compared to the previous year[83]. - The company has entrusted a total of RMB 536 million in bank wealth management products, with an outstanding balance of RMB 190 million[166]. - The company has also invested RMB 657 million in bank wealth management products using raised funds, with an outstanding balance of RMB 569 million[166]. - The company has structured deposits amounting to RMB 300 million with a yield range of 1.82% to 3.55%[167]. Corporate Governance and Compliance - The company has established a governance structure that ensures the protection of shareholder and creditor rights, complying with legal regulations and enhancing operational standards[179]. - The company has committed to compensating any losses incurred by shareholders due to violations of its commitments[153]. - The company will ensure compliance with relevant laws and regulations regarding shareholding and changes in shareholding status[137]. Future Plans and Strategic Initiatives - The company plans to gradually resolve capacity constraints and implement a long-term capacity expansion plan to meet future demand in the industrial automation market[74]. - The company aims to become a leading global manufacturer of precision transmission devices, focusing on innovation and economic efficiency[118]. - Future plans include significant expansion of R&D personnel and management staff to support rapid growth and maintain industry leadership[119]. - The company will pursue strategic acquisitions to vertically integrate its operations and enhance product offerings[119]. Risks and Challenges - The company faces risks related to market competition, particularly from international industry giants, which may intensify as the company expands its business[79]. - The ongoing COVID-19 pandemic has not significantly impacted the company's operations, but uncertainties remain regarding international customer procurement[81].