Financial Performance - Operating revenue for the period was CNY 36,632,242.71, down 13.35% year-on-year[5] - Net profit attributable to shareholders was CNY 5,634,295.64, a decrease of 52.93% compared to the same period last year[5] - Basic earnings per share were CNY 0.0954, reflecting a decline of 65.50% year-on-year[5] - The net cash flow from operating activities was CNY -16,388,935.30, representing a decrease of 21.56% year-on-year[5] - Total operating revenue for Q1 2021 was CNY 36,632,242.71, a decrease of 13.0% compared to CNY 42,273,804.93 in Q1 2020[30] - Net profit for Q1 2021 was CNY 5,735,380.88, down 54.0% from CNY 12,444,333.79 in Q1 2020[31] - The total comprehensive income for Q1 2021 was CNY 8,500,499.38, compared to CNY 8,463,930.29 in Q1 2020, showing a slight increase of 0.4%[35] Assets and Liabilities - Total assets at the end of the reporting period were CNY 969,266,233.31, a decrease of 1.07% compared to the end of the previous year[5] - Cash and cash equivalents decreased by 88.66% to ¥38,830,820.99 from ¥342,489,900.41 due to the use of idle funds for cash management[13] - The company reported a total asset value of ¥969,266,233.31 as of March 31, 2021, slightly down from ¥979,771,614.42 at the end of 2020[21] - The total liabilities decreased to ¥43,741,707.47 as of March 31, 2021, from ¥61,769,067.32 at the end of 2020, indicating improved financial stability[23] - The company's total liabilities amounted to CNY 61,769,067.32, compared to CNY 63,805,037.72 at the beginning of the year, indicating a reduction in liabilities[44] Shareholder Information - The total number of shareholders at the end of the reporting period was 7,988[10] - The top shareholder, Gao Nan, held 20,250,000 shares, representing 33.75% of the total shares[11] - The company’s equity attributable to shareholders increased to ¥923,725,345.03 as of March 31, 2021, compared to ¥918,002,547.10 at the end of 2020, reflecting retained earnings growth[24] Research and Development - Research and development expenses accounted for 20.20% of operating revenue, an increase of 12.19 percentage points compared to the previous year[6] - Research and development expenses increased by 118.47% to ¥7,398,065.42 from ¥3,386,294.70, reflecting increased investment in R&D personnel and projects[15] - Research and development expenses rose significantly to CNY 7,398,065.42 in Q1 2021, compared to CNY 3,386,294.70 in Q1 2020, reflecting a 118.5% increase[31] Cash Flow Management - The company's cash management strategy involved utilizing idle funds for investment, leading to a significant cash recovery of ¥328,000,000.00 during the reporting period[17] - The company experienced a net cash outflow of CNY 304,211,802.86 in Q1 2021, compared to CNY -15,684,153.48 in Q1 2020, indicating a significant increase in cash outflow[37] - The net cash flow from operating activities was negative at CNY -16,388,935.30 for Q1 2021, compared to CNY -13,482,631.18 in Q1 2020[36] Other Financial Metrics - The weighted average return on net assets was 0.6215%, a decrease of 4.4 percentage points compared to the previous year[5] - The company reported non-recurring gains of CNY 88,502.29 during the period[9] - The company reported a significant increase in credit impairment losses, which rose by 322.42% to ¥1,219,621.18 from ¥288,723.98, indicating higher bad debt provisions[15] - The company reported a significant increase in cash received from sales, totaling CNY 58,496,052.32 in Q1 2021, compared to CNY 37,369,763.48 in Q1 2020, an increase of 56.5%[36] Operational Changes - The company has adopted new leasing standards starting in 2021, which has resulted in the recognition of lease liabilities and corresponding right-of-use assets[44] - The company is focusing on improving cash flow management and reducing operational losses in the upcoming quarters[39] - There are no indications of market expansion or mergers and acquisitions in the current report[49]

Financial Performance - The company achieved operating revenue of CNY 262,948,290.38 in 2020, representing a year-on-year increase of 4.81%[22]. - The net profit attributable to shareholders was CNY 74,182,757.05, an increase of 13.35% compared to the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 65,260,974.43, up by 2.47% year-on-year[22]. - The company's total assets grew by 227.86% to CNY 979,771,614.42 at the end of 2020[23]. - The net assets attributable to shareholders increased by 279.78% to CNY 918,002,547.10[23]. - The basic earnings per share remained at CNY 1.45, with a slight decrease of 0.47% compared to the previous year[24]. - The net profit attributable to shareholders for 2020 was CNY 12,444,333.79, a decrease from CNY 22,283,097.25 in 2019, representing a decline of approximately 44.0%[28]. - The net profit after deducting non-recurring gains and losses was CNY 11,968,988.29, compared to CNY 14,768,201.16 in 2019, indicating a decrease of about 18.9%[28]. - The cash flow from operating activities was negative at CNY -13,482,631.18, contrasting with a positive cash flow of CNY 14,754,584.56 in the previous year[28]. - The company reported a significant decline in cash flow from operating activities, down 87.82% to 6.82 million yuan[129]. Research and Development - The total R&D investment for the year was approximately ¥21.55 million, representing a 29.11% increase from the previous year's ¥16.69 million[80]. - R&D investment accounted for 8.20% of total operating revenue, up from 6.65% in the previous year, marking an increase of 1.55 percentage points[81]. - The number of R&D personnel increased by 31.25% to 63, with total compensation for R&D staff rising by 20.64%[82]. - The company focused on enhancing R&D in trusted computing technology and industrial internet zero-trust technology, expanding its R&D team accordingly[82]. - The company has developed a series of intelligent sensors for IoT applications, improving accuracy and reliability in data perception[77]. - The company is actively researching and developing new technologies such as secure operating systems and zero-trust technology to integrate into future products and services[111]. Market and Industry Trends - The global industrial information security market was valued at $16.401 billion in 2019 and is projected to grow to $29.76 billion by 2026, with a CAGR of 8.83%[44]. - The electric power industry is expected to see a rapid growth in industrial information security, with a CAGR of 13.38% due to compliance standards[44]. - The industrial information security market in China was about 9.46 billion yuan in 2018, representing a 30% increase from 2017, and is expected to reach 22.8 billion yuan by 2021, maintaining a growth rate of over 30%[49]. - The company anticipates significant market opportunities driven by increasing cybersecurity threats and regulatory requirements in the industrial sector[42]. - The industrial internet market in China reached approximately 467.7 billion yuan in 2017, growing by 13.5% compared to 2016, and is projected to reach 692.9 billion yuan by 2020, with an average annual growth rate of 13.93%[48]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Zhongtianyun Accounting Firm[4]. - The board of directors has confirmed the accuracy and completeness of the annual report, ensuring no misleading statements or significant omissions[4]. - The company has not indicated any special arrangements for corporate governance or significant matters that require disclosure[8]. - The company has outlined specific commitments regarding share transfer restrictions for its major shareholders and key personnel, ensuring stability in shareholding[176]. - The company is committed to adhering to the regulations regarding share transfers and lock-up periods, ensuring compliance with market standards[176]. Profit Distribution - The proposed profit distribution plan for 2020 includes a cash dividend of RMB 3.71 per 10 shares, totaling RMB 22,260,000, which accounts for 30.01% of the net profit attributable to shareholders[5]. - The cash dividend distribution plan for 2020 has been approved by the board and will be submitted for shareholder approval[168]. - The company plans to implement a cash dividend policy, distributing at least 10% of the annual distributable profit in cash[200]. - The company prioritizes cash dividends, with a minimum cash distribution ratio of 80% for mature stages without major capital expenditures, 40% for mature stages with major expenditures, and 20% for growth stages with major expenditures[199]. Strategic Partnerships and Collaborations - The company has formed strategic partnerships with well-known domestic chip manufacturers and operating system vendors, enhancing its technological capabilities and promoting the rapid development of domestic information platforms[66]. - The company is collaborating with the Shanghai Institute of Microsystem and Information Technology to develop stable and reliable core resistance modules[92]. - The company will strengthen cooperation with system integrators in various industries, including rail transport and finance, to expand its market presence[164]. Risks and Challenges - The company faces risks related to core technology personnel turnover, which could impact project timelines and R&D capabilities[116]. - The company is exposed to risks from concentrated business in the electric power industry, which is subject to policy changes and investment scale fluctuations[118]. - The company’s procurement of raw materials, particularly chips, is critical, with over 70% of total procurement costs tied to key components, making it vulnerable to supply chain disruptions[124]. - The company is facing intensified competition in the information security industry, necessitating continuous innovation and product upgrades[128].

Financial Performance - Operating income for the first nine months rose by 5.93% to CNY 144,817,262.18 compared to the same period last year[6] - Net profit attributable to shareholders increased by 35.69% to CNY 42,092,973.72 compared to the same period last year[6] - Basic earnings per share rose by 26.09% to CNY 0.87[7] - Total operating revenue for the first three quarters of 2020 was ¥144,817,262.18, an increase of 5.1% compared to ¥136,715,013.47 in the first three quarters of 2019[25] - Total profit for the first three quarters of 2020 reached ¥49,332,958.55, compared to ¥35,440,756.32 in the same period of 2019, an increase of 39.1%[27] - The company’s total profit for Q3 2020 was CNY 8,513,423.88, a decrease of 62.8% compared to CNY 22,873,129.98 in Q3 2019[30] Assets and Liabilities - Total assets increased by 207.34% to CNY 918,448,025.11 compared to the end of the previous year[6] - The total equity attributable to the parent company increased by 266.56% from RMB 241,722,620.25 to RMB 886,064,650.56, primarily due to the IPO[13] - Current liabilities decreased to ¥32,383,374.55 from ¥57,119,908.81, a reduction of approximately 43.4%[20] - The company reported a total current asset of ¥805,390,656.26, up from ¥191,159,667.43, indicating a growth of approximately 320.5%[22] - Total assets as of September 30, 2020, were ¥298,842,529.06, unchanged from the beginning of the year, indicating stability in asset management[39] Cash Flow - Net cash flow from operating activities decreased by 60.75% to CNY 6,429,955.78 compared to the same period last year[6] - The company generated a net cash flow from operating activities of CNY 6,429,955.78 in the first nine months of 2020, a decline of 60.7% from CNY 16,381,663.38 in the same period of 2019[32] - Cash and cash equivalents decreased by 35.56% from RMB 73,953,733.25 to RMB 47,656,140.30 due to idle funds being invested in financial products[12] - The ending cash and cash equivalents balance for the third quarter of 2020 was ¥44,672,060.56, down from ¥54,986,909.54 at the beginning of the period, a decrease of approximately 18.5%[36] Shareholder Information - The total number of shareholders reached 9,976[11] - The top shareholder, Gao Nan, holds 33.75% of the shares, totaling 20,250,000 shares[11] Research and Development - Research and development expenses accounted for 8.24% of operating income, an increase of 1.53 percentage points[7] - Research and development expenses rose by 30.03% from RMB 9,171,595.66 to RMB 11,925,758.50, attributed to an increase in R&D personnel[13] - Research and development expenses increased to ¥4,411,080.39 in Q3 2020, up 38.0% from ¥3,195,897.09 in Q3 2019[25] Government Subsidies and Investments - The company received government subsidies amounting to CNY 974,576.15 during the reporting period[9] - The company received RMB 596,905,728.96 from the initial public offering (IPO), marking a significant inflow compared to a net cash outflow of RMB 10,314,983.26 in the previous period[15] - The company has committed RMB 10 million as a limited partner in a new investment fund focused on hard technology enterprises, with a total fund size of RMB 70 million[15] Inventory and Accounts Receivable - Accounts receivable decreased by 52.32% from RMB 11,669,522.00 to RMB 5,564,228.36, primarily due to a reduction in customer notes[12] - Inventory increased by 34.94% from RMB 44,082,288.86 to RMB 59,483,201.79, mainly due to increased purchase orders[12] - Accounts receivable decreased to ¥64,703,107.81 from ¥70,340,402.46, a decline of about 8.9%[22] - Inventory increased significantly to ¥59,008,406.44 from ¥41,653,058.38, marking a rise of approximately 41.5%[22]

Financial Performance - The company reported a revenue of 500 million RMB for the first half of 2020, representing a 20% increase compared to the same period last year[14]. - The company has set a revenue guidance of 1.2 billion RMB for the full year 2020, indicating a projected growth of 25% year-over-year[14]. - The company's operating revenue for the first half of the year reached ¥101,922,264.91, representing a year-on-year increase of 30.77%[21]. - Net profit attributable to shareholders increased by 202.80% to ¥34,727,431.04, primarily due to a higher proportion of revenue from information security products[23]. - Basic earnings per share rose by 202.75% to ¥0.7717, reflecting the significant growth in net profit during the reporting period[24]. - The company reported a total revenue of 20,840,500.00 RMB, with a net profit of 7,514,678.11 RMB for the reporting period[59]. - The company achieved a gross profit margin of approximately 30.0% for the first half of 2020, compared to 14.5% in the same period of 2019[157]. - The net profit for the first half of 2020 reached RMB 28,496,283.94, a significant increase of 176.5% from RMB 10,309,766.88 in the first half of 2019[162]. Research and Development - The company is investing 100 million RMB in R&D for new technologies, focusing on enhancing cybersecurity solutions[14]. - Research and development expenses accounted for 7.37% of operating revenue, a slight decrease of 0.3 percentage points from the previous year[22]. - The company reported a total R&D investment of ¥7,514,678.11, which accounts for 7.37% of its operating revenue[48]. - The R&D personnel count stands at 50, accounting for 35.46% of the total workforce, with an average salary of 100,588.12 RMB[62]. - The company has developed a cross-platform development system technology to support various industrial applications, enhancing device security and reducing costs[44]. - The company’s R&D efforts are focused on enhancing the sensitivity, reliability, and accuracy of IoT sensors, applicable in various sensing fields[45]. - The company is actively developing a domestic situational awareness platform and secure operating systems to integrate into future products[72]. Market and Product Development - New product launches in the industrial IoT sector contributed to 30% of total sales in the first half of 2020[14]. - The company focuses on industrial internet and information security products, with applications in sectors such as electricity, energy, finance, and railways[29]. - The company launched new products including edge IoT agents and a new generation of intelligent TCU, enhancing its product line and market share[72]. - The company is focusing on expanding its market presence in the industrial automation sector, leveraging its proprietary technology for secure and efficient data transmission[55]. - The company has completed the development of multiple products in the smart archive cabinet and control product category, preparing for market promotion[74]. Financial Position and Assets - The company's total assets increased by 3.59% to ¥309,585,095.57 compared to the end of the previous year[21]. - The company's total current assets reached RMB 257,890,101.22, compared to RMB 248,094,652.90 at the end of 2019, indicating an increase of about 3.2%[150]. - Total liabilities decreased to RMB 33,135,044.28 from RMB 57,119,908.81, a reduction of about 42%[152]. - The company's equity attributable to shareholders rose to RMB 276,450,051.29 from RMB 241,722,620.25, reflecting an increase of approximately 14.4%[152]. Risks and Challenges - The company has identified potential risks related to supply chain disruptions and is taking measures to mitigate these risks[14]. - The company faces risks related to its business concentration in the electric power industry, which is influenced by policies and investment scales from major clients like State Grid and Southern Grid[77]. - The company’s main raw materials account for over 70% of total procurement, with significant reliance on international chip suppliers, exposing it to supply and price volatility risks[85]. - The company faces long-term risks of client loss due to potential integration or self-development by downstream customers in the industrial information security sector[87]. Compliance and Governance - The board emphasized the commitment to maintaining transparency and accuracy in financial reporting, ensuring compliance with regulations[14]. - The company held 1 shareholders' meeting, 2 board meetings, and 1 supervisory meeting, all conducted in compliance with legal regulations, ensuring effective management[76]. - The company has established long-term commitments to resolve related party transactions and competition issues[101]. - The company guarantees that there are no fraudulent activities related to its initial public offering (IPO) and listing on the Sci-Tech Innovation Board[113]. Shareholder Commitments - The company has commitments from actual controllers and shareholders to not transfer or manage shares for 36 months post-IPO[99]. - Share lock-up period for key personnel is set for 36 months from the IPO date, with specific conditions for share transfer[102]. - The company will not propose share buybacks during the lock-up period[103]. - The company aims to maintain a long-term holding strategy for its stock, reflecting confidence in its business development[108]. Environmental and Social Responsibility - The major pollutants from the company's operations include waste gas, wastewater, and solid waste, with measures in place for their treatment and disposal[135]. - The company has implemented ISO14001 environmental management system certification, ensuring compliance with environmental regulations[135].