Financial Performance - The total revenue for 2021 reached ¥1,654,565,278.08, representing a 111.54% increase compared to ¥782,160,957.71 in 2020[22]. - Net profit attributable to shareholders was ¥151,942,997.56, a 191.07% increase from ¥52,201,514.99 in the previous year[22]. - The net profit after deducting non-recurring gains and losses increased by 276.88%, reaching ¥128,578,978.81[22]. - Basic earnings per share rose to ¥1.90, a 150% increase from ¥0.76 in 2020[23]. - The company achieved a revenue of 2,850.00 million for the development of high coercivity rare earth permanent magnets, indicating a leading position in the domestic market[63]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion CNY for the fiscal year, representing a year-over-year growth of 20%[143]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on new product launches and market expansion strategies[143]. Dividend Policy - The company plans to distribute a cash dividend of 6.60 RMB per 10 shares, totaling 52,800,000 RMB, which represents 34.75% of the net profit attributable to shareholders for the year 2021[7]. - The cash dividend policy aligns with the company's articles of association and has been approved by the board and supervisory committee[170]. - The company plans to distribute at least 20% of its distributable profits as cash dividends annually, enhancing transparency and protecting investor interests[168]. Research and Development - The research and development expenditure accounted for 5.83% of total revenue, up from 4.35% in the previous year[23]. - R&D investment totaled approximately ¥96.47 million, representing a 183.58% increase from the previous year, and accounted for 5.83% of operating revenue[58][59]. - The company applied for 27 patents during the reporting period, including 8 inventions, and received 18 patent authorizations, with a total of 205 patent applications and 155 authorizations to date[55][56]. - The company is focusing on the development of low-cost permanent magnet rare earth materials, aiming to reduce production costs by 42% for specific magnet grades[62]. - The company is developing high-performance sintered NdFeB magnets for emerging smart automotive drive motors, with ongoing technical development[62]. Market Expansion - The company established a wholly-owned subsidiary in Tokyo, Japan, to expand its presence in the Asian market[37]. - The company is focusing on expanding its market presence and customer base, with a strategy that includes both direct sales and distribution channels[44]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[143]. Production Capacity - The production of sintered NdFeB permanent magnet materials reached 3,955 tons, a year-on-year increase of 44.33%[36]. - The company’s production capacity for sintered NdFeB permanent magnets reached 6,000 tons by the end of the year, a 50% increase year-on-year[35]. - The company is expanding production capacity in Hefei, Baotou, and Ningguo, which may introduce management risks due to increased scale[72]. Environmental Responsibility - The company has implemented a self-monitoring plan for environmental parameters, including wastewater and noise levels, conducted by qualified third-party units[196]. - The actual discharge concentrations of key pollutants were significantly below the regulatory limits, with COD at 80.03 mg/l (limit: 300 mg/l), suspended solids at 20.75 mg/l (limit: 150 mg/l), and ammonia nitrogen at 5.64 mg/l (limit: 25 mg/l)[199]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[197]. Corporate Governance - The company has established a complete insider trading prevention system, with no incidents of insider trading violations during the reporting period[138]. - The board of directors and supervisory board operated in compliance with legal requirements, safeguarding the rights of all shareholders, especially minority shareholders[137]. - The company adheres to strict corporate governance standards, with a clear structure for the board of directors and various committees[190]. Strategic Initiatives - The company is committed to increasing R&D investment, particularly in clean energy and energy-saving applications, to improve product development and industrialization efficiency[133]. - The company aims to enhance its core competitiveness by implementing innovation, talent, and standard strategies, focusing on high-performance sintered NdFeB permanent magnet materials[131]. - The company is undergoing structural adjustments, including the merger of Baotou Aorite into Baotou Company, and the dissolution of subsidiaries in Tianjin and Hefei[120][121].

Financial Performance - The company's operating revenue for Q3 2021 reached ¥423,476,501.51, representing a year-on-year increase of 125.02%[5] - The net profit attributable to shareholders for Q3 2021 was ¥38,469,783.36, a significant increase of 269.30% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2021 was ¥34,079,201.67, up 289.32% year-on-year[5] - Total operating revenue for the first three quarters of 2021 reached ¥1,146,834,401.96, a significant increase from ¥515,704,608.61 in the same period of 2020, representing a growth of approximately 121.5%[24] - Operating profit for the first three quarters of 2021 was ¥108,326,317.45, compared to ¥37,013,902.07 in the previous year, indicating an increase of about 192.5%[25] - Net profit for the first three quarters of 2021 amounted to ¥105,154,691.49, up from ¥32,364,716.95 in 2020, reflecting a growth of approximately 225.5%[25] - The total comprehensive income for the third quarter of 2021 was CNY 105,029,094.55, compared to CNY 32,392,383.91 in the same period of 2020, representing a significant increase[26] - Basic and diluted earnings per share for the third quarter were CNY 1.31, up from CNY 0.40 in the previous year, indicating strong profitability growth[26] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,909,402,823.96, reflecting a growth of 30.93% compared to the end of the previous year[6] - Total assets as of the end of Q3 2021 were ¥1,909,402,823.96, compared to ¥1,458,312,604.80 at the end of Q3 2020, marking an increase of about 30.8%[21] - Total liabilities increased to ¥875,105,624.60 in Q3 2021 from ¥545,034,965.62 in Q3 2020, representing a growth of approximately 60.5%[21] - Non-current assets totaled ¥541,053,923.42 in Q3 2021, compared to ¥426,181,430.81 in Q3 2020, indicating an increase of about 27%[21] - As of September 30, 2021, total current assets amount to CNY 1,368,348,900.54, an increase from CNY 1,032,131,173.99 at the end of 2020[19] Research and Development - The company's R&D investment for Q3 2021 amounted to ¥28,265,651.86, an increase of 276.91% year-on-year[6] - The R&D investment accounted for 6.67% of operating revenue, up 2.69 percentage points from the previous year[6] - Research and development expenses for the first three quarters of 2021 were ¥63,701,479.20, significantly higher than ¥21,865,233.51 in the same period of 2020, reflecting an increase of approximately 191.5%[24] - The company is progressing with the construction of a high-performance sintered NdFeB permanent magnet and component R&D project in Hefei, Anhui Province[15] Cash Flow - The cash flow from operating activities for the year-to-date period was negative at -¥145,645,862.73, primarily due to increased cash payments for goods and services[6] - Cash inflows from operating activities for the first three quarters of 2021 amounted to CNY 924,983,525.88, compared to CNY 562,556,808.27 in the same period of 2020, reflecting a year-over-year increase of approximately 64.4%[28] - The net cash flow from operating activities for the third quarter was negative CNY 145,645,862.73, worsening from negative CNY 14,352,212.97 in the previous year[28] - Cash inflows from investment activities totaled CNY 729,459,329.00, a significant increase from CNY 136,904.47 in the same period of 2020[28] - The net cash flow from investment activities was CNY 55,091,169.81, compared to a negative CNY 375,740,693.87 in the previous year, indicating a turnaround in investment performance[28] - Cash flow from financing activities generated a net inflow of CNY 128,673,063.27, down from CNY 418,457,486.66 in the same period of 2020, showing a decrease in financing activity[29] - The ending cash and cash equivalents balance as of the end of the third quarter was CNY 114,766,936.62, compared to CNY 63,502,391.31 at the end of the same period last year, representing a year-over-year increase of approximately 80.7%[29] Shareholder Information - The total number of common shareholders at the end of the reporting period is 7,591[13] - The largest shareholder, Xiong Yongfei, holds 30,327,000 shares, representing 37.91% of total shares, with 200,000 shares frozen[13] Investments and Projects - The company invested CNY 113.98 million in Anhui Ning Magnetic Electronics Technology Co., Ltd. for expansion[15] - The company holds a 75% stake in the newly renamed Dadi Xiong (Ningguo) Permanent Magnet Technology Co., Ltd., which began normal operations in September[16] - The company and Northern Rare Earth jointly invested CNY 90.36 million in Northern Rare Earth (Anhui) Permanent Magnet Technology Co., Ltd. for a project with an annual production capacity of 8,000 tons of high-performance alloy sheets[16] Sales Performance - The company reported a significant increase in sales revenue from CNY 873,686,578.61 in the first three quarters of 2021, compared to CNY 538,505,247.03 in the same period of 2020, marking a growth of approximately 62.1%[27] - The company did not report any net profit from subsidiaries prior to consolidation, indicating no prior earnings from merged entities[26]

Financial Performance - The company reported a revenue of RMB 500 million for the first half of 2021, representing a year-on-year increase of 25%[14] - The company achieved operating revenue of CNY 723.36 million in the first half of 2021, representing a year-on-year increase of 120.86%[20] - The net profit attributable to shareholders of the listed company was CNY 66.62 million, up 203.55% compared to the same period last year[20] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 57.88 million, an increase of 238.14% year-on-year[20] - Basic earnings per share increased by 124.32% to CNY 0.83 compared to the same period last year[21] - Future guidance estimates a revenue growth of 30% for the full year 2021, driven by increased demand in the automotive sector[14] - The company’s total assets reached CNY 1.68 billion, a year-on-year increase of 15.14%[20] - The company's net assets attributable to shareholders increased by 4.36% to CNY 953.13 million at the end of the reporting period[20] - The company achieved a significant reduction in production costs through innovative preparation processes for neodymium iron boron magnets[49] Research and Development - The company has allocated RMB 50 million for R&D in new technologies, focusing on sustainable materials[14] - Research and development expenses accounted for 4.90% of operating revenue, an increase of 0.51 percentage points year-on-year[21] - The company has developed key technologies including atmosphere control and new magnetic field orientation forming, holding 54 domestic and international patents[34] - The company applied for 2 invention patents and obtained 12 patents during the reporting period, bringing the total to 174 applications and 148 granted patents[40] - The company is constructing a national key laboratory for rare earth permanent materials, enhancing its R&D capabilities[34] - The company is developing a production technology system for high-performance rare earth permanent magnets without heavy rare earths, with successful trials for 48H and 42SH high-performance magnets[47] - The company has developed a recycling technology for waste sintered neodymium-iron-boron magnets, achieving over 98% performance of regenerated magnets compared to normal magnets[39] Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by the end of 2022[14] - The company has established a direct sales model primarily targeting end customers in the automotive and industrial sectors[31] - The company’s sales strategy includes expanding overseas markets through a distribution model, facilitating rapid international market entry[31] - The company is a major supplier to international automotive giants such as Continental and Schaeffler, enhancing its market position[34] - The new energy vehicle sector experienced a production and sales growth of 134.9% and 139.3% respectively in the first half of 2021[36] Environmental Responsibility - The company is engaged in the research, production, and sales of rare earth permanent magnet materials, with a focus on environmental protection and compliance with regulations[86] - The company has implemented measures for wastewater treatment, including physical and chemical methods, ensuring compliance with municipal discharge standards[86][88] - The company emphasizes ecological protection and pollution prevention in its production processes, aligning with national goals for carbon peak by 2030 and carbon neutrality by 2060[92] - The company possesses mature technologies for green protection of sintered NdFeB permanent magnet materials and recycling of waste rare earth permanent magnets[92] - The company has not faced any administrative penalties related to environmental issues during the reporting period[93] Shareholder Commitments and Governance - The company commits to not engaging in any competitive business activities that may harm its operations[97] - The commitments made by the controlling shareholders and management are effective for the long term, ensuring compliance with operational integrity[95] - The company will ensure compliance with legal requirements and improve its governance structure to protect shareholder rights[129] - The company will share the retained earnings achieved before the public offering among new and old shareholders according to their shareholding ratios[101] - The company will ensure that any related party transactions are conducted fairly and at a fair price, safeguarding the rights of the company and its subsidiaries[100] Financial Risks and Challenges - The company is facing risks from fluctuations in rare earth material prices and intensified industry competition, which may affect profitability[60][62] - The prices of rare earth raw materials increased by nearly 40% at the beginning of 2021, impacting production costs[57] - The net cash flow from operating activities decreased due to increased accounts receivable and inventory levels despite rising revenue[22] - The company reported a net loss of CNY 12 million for the first half of 2021, indicating challenges in profitability[196] Future Outlook - The company plans to continue expanding its market presence and investing in new product development to sustain growth[176] - The company has set a target to maintain a sustainable growth rate in the upcoming periods, focusing on innovation and market expansion strategies[194] - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[198] - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[198]

Financial Performance - Operating revenue surged by 159.08% to CNY 294,715,538.66 year-on-year[5] - Net profit attributable to shareholders increased by 471.74% to CNY 30,140,219.57 compared to the same period last year[5] - Basic earnings per share increased by 322.22% to CNY 0.38[5] - Total operating revenue for Q1 2021 reached RMB 294.72 million, a significant increase of 159.5% compared to RMB 113.75 million in Q1 2020[24] - Net profit for Q1 2021 was RMB 30.14 million, up 471.5% from RMB 5.27 million in Q1 2020[25] - Operating profit for Q1 2021 was RMB 32.41 million, compared to RMB 6.06 million in Q1 2020, reflecting a growth of 435.5%[25] - The comprehensive income for Q1 2021 was RMB 30.03 million, a rise of 469.5% from RMB 5.27 million in Q1 2020[25] - The total profit for Q1 2021 was RMB 35.07 million, a substantial increase of 514.5% from RMB 5.72 million in Q1 2020[25] Assets and Liabilities - Total assets increased by 13.43% to CNY 1,654,149,553.66 compared to the end of the previous year[5] - Current liabilities rose to ¥638,120,765.15, compared to ¥470,767,124.77, indicating an increase of about 35.5%[20] - Total liabilities reached ¥710,844,606.11, up from ¥545,034,965.62, reflecting a growth of approximately 30.3%[20] - Total equity attributable to shareholders increased to ¥943,304,947.55 from ¥913,277,639.18, marking a rise of about 3.3%[20] - The company reported a total current asset of ¥1,133,356,848.27, up from ¥989,728,254.00, indicating a growth of about 14.5%[22] Cash Flow - Net cash flow from operating activities was negative at CNY -5,801,590.64, a decline of 151.80% compared to the previous year[5] - Cash flow from operating activities was ¥212,858,100.88, up 41.34% from ¥150,602,870.01, driven by increased revenue[15] - The cash inflow from sales of goods and services was CNY 212,858,100.88 in Q1 2021, up from CNY 150,602,870.01 in Q1 2020[29] - The company experienced a cash outflow of CNY 3,172,988.91 for taxes in Q1 2021, compared to CNY 2,692,358.80 in Q1 2020[30] Shareholder Information - The total number of shareholders reached 7,408 at the end of the reporting period[11] - The largest shareholder, Xiong Yongfei, holds 37.91% of the shares, with 200,000 shares frozen[11][12] Research and Development - Research and development expenses as a percentage of operating revenue decreased by 2.03 percentage points to 3.67%[5] - Research and development expenses for Q1 2021 were ¥10,830,391.90, representing a 66.93% increase from ¥6,487,822.24 in Q1 2020, reflecting the company's commitment to innovation[14] Inventory and Receivables - Accounts receivable increased to ¥238,162,721.11, up 16.3% from ¥204,732,391.18 as of December 31, 2020, indicating higher sales volume[18] - Inventory levels rose to ¥425,386,676.81, a 46.03% increase from ¥291,294,716.15, attributed to material stocking and increased sales[14] - Accounts receivable increased to ¥238,521,172.76 from ¥182,470,163.80, showing a growth of about 30.8%[22] - Inventory rose significantly to ¥327,077,373.99 from ¥246,862,548.11, representing an increase of approximately 32.4%[22] Financing Activities - Short-term borrowings increased by 220.00% to ¥32,036,960.18 from ¥10,011,571.04, indicating a rise in financing activities[14] - The cash inflow from financing activities was CNY 22,000,000.00 in Q1 2021, up from CNY 10,000,000.00 in Q1 2020[31] - The net cash flow from financing activities improved to CNY 21,891,069.44 in Q1 2021, compared to CNY 930,774.16 in Q1 2020[31]

Financial Performance - The company's operating revenue for 2020 was CNY 782,160,957.71, representing a year-on-year increase of 23.97% compared to CNY 630,951,036.46 in 2019[23]. - The net profit attributable to shareholders for 2020 was CNY 52,201,514.99, a decrease of 9.99% from CNY 57,995,052.58 in 2019[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 34,116,654.55, down 25.54% from CNY 45,815,882.12 in 2019[23]. - The cash flow from operating activities for 2020 was CNY 34,493,001.94, a decline of 34.18% compared to CNY 52,405,316.68 in 2019[23]. - The total assets at the end of 2020 were CNY 1,458,312,604.80, an increase of 86.04% from CNY 783,874,938.20 at the end of 2019[23]. - The net assets attributable to shareholders at the end of 2020 were CNY 913,277,639.18, up 146.06% from CNY 371,153,478.12 at the end of 2019[23]. - The basic earnings per share for 2020 were CNY 0.76, a decrease of 21.65% from CNY 0.97 in 2019[24]. - The gross profit margin for 2020 was 18.03%, down by 5.49 percentage points from 2019[73]. - The company faced a foreign exchange loss of CNY 5.59 million, accounting for 9.88% of the total profit for the period due to fluctuations in exchange rates[69]. Dividend Policy - The company plans to distribute a cash dividend of 3.75 RMB per 10 shares, totaling 30,000,000 RMB, which represents 57.47% of the net profit attributable to shareholders for 2020[5]. - The cash dividend policy stipulates that at least 20% of the distributable profit will be distributed as cash dividends when conditions are met, ensuring a stable return to investors[112]. - The company has established a profit distribution policy that prioritizes cash dividends to enhance transparency and protect investor interests[113]. - The company is committed to the timely execution of its commitments regarding profit distribution and related transactions[116]. - The controlling shareholders have pledged to take necessary measures to ensure the company strictly follows the profit distribution policy and dividend return plan approved by the shareholders' meeting[124]. Research and Development - The total R&D investment for the year was approximately ¥34 million, representing a 6.31% increase from the previous year, while the proportion of R&D investment to operating income decreased by 14.24% to 4.35%[46]. - The company applied for 22 patents during the reporting period, including 14 invention patents, and received 16 patent authorizations, with a cumulative total of 172 patent applications[45]. - The company has developed a green and efficient surface protection technology for magnets, achieving over 1000 hours of salt spray resistance in tests[43]. - The company is constructing a national key laboratory for rare earth permanent magnetic materials, enhancing its R&D and innovation capabilities[40]. - The company is committed to developing technologies for the recycling and resource utilization of used rare earth permanent magnets, contributing to environmental sustainability[107]. Market and Industry Position - The company primarily engages in the research, production, and sales of high-performance sintered neodymium-iron-boron permanent magnetic materials, with major applications in automotive, industrial motors, and high-end consumer electronics[33]. - The company exports its products to over 20 countries and regions, including Europe, America, and Asia-Pacific, serving well-known clients such as Bosch, Schaeffler, and Panasonic[34]. - The company is expanding its market presence, serving major international automotive parts suppliers and maintaining stable partnerships with industrial motor manufacturers[40]. - The company plans to strengthen its core business in high-performance sintered NdFeB magnets, focusing on strategic national needs in new energy vehicles and information technology[107]. - The demand for high-performance sintered NdFeB magnets is expected to rise significantly in clean energy sectors, aligning with national policies promoting sustainable development[103]. Corporate Governance - The board of directors and senior management have confirmed the accuracy and completeness of the annual report[4]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has confirmed that there are no governance special arrangements or important matters applicable[6]. - The company has established a commitment to fair and equitable pricing in related party transactions to safeguard its and its subsidiaries' legal rights[122]. - The company will ensure that any unavoidable related party transactions are conducted in compliance with relevant regulations and principles[122]. Investment and Capital Management - The company has significant investments in new product development and market expansion strategies, particularly in magnetic materials[101]. - The company has a structured deposit of RMB 75,000,000 with an annualized return rate between 1.5% and 3.03%[170]. - The company has achieved an investment progress of 9.74% for the automotive motor project, with a cumulative investment of RMB 10,176.20 million against a commitment of RMB 35,236.00 million[173]. - The company has utilized self-raised funds amounting to RMB 9,475.30 million for investment projects[174]. - The company has not experienced significant changes in project feasibility[174]. Environmental Responsibility - The company has not reported any major environmental violations or pollution incidents during the reporting period[184]. - The company has completed environmental impact assessments for new projects, ensuring compliance with regulations[185]. - The company has a comprehensive emergency response plan for environmental incidents, regularly conducting drills[186]. - The company has established a third-party monitoring system for environmental compliance, submitting data to regulatory authorities[187]. Shareholder Relations - The company has established effective communication channels with investors, ensuring timely and accurate information disclosure[177]. - The company has a long-term lock-up period for shares held by major shareholders and management, ensuring stability in shareholding structure[118]. - The company has committed to fulfilling all public commitments made during its IPO process and will accept social supervision[156]. - The company has a diverse shareholder base, with significant holdings from both domestic and foreign investors[191]. - The company reported a total of 60,000 shares for key executives prior to the IPO, indicating strong internal confidence in the company's future[197].

Financial Performance - Revenue for the first nine months was CNY 515,704,608.61, representing a 13.47% increase compared to the same period last year[7] - Net profit attributable to shareholders decreased by 32.80% year-on-year, amounting to CNY 32,364,716.95[7] - Basic and diluted earnings per share dropped by 50% to CNY 0.40[8] - Net profit for the period was RMB 32,364,716.95, a decrease of 32.80% compared to the previous year, driven by a decline in export volume and a shift towards domestic sales[20] - Total operating revenue for the first three quarters of 2020 reached ¥515,704,608.61, a 13.5% increase from ¥454,494,013.74 in the same period of 2019[34] - Net profit for the first three quarters of 2020 was ¥32,364,716.95, a decrease of 32.8% from ¥48,161,381.28 in the same period of 2019[36] - Total profit for Q3 2020 was ¥11,118,512.35, a decrease of 62.1% from ¥29,372,596.76 in Q3 2019[36] Cash Flow - The net cash flow from operating activities was negative CNY 14,352,212.97, worsening by 183.00% compared to the previous year[7] - Cash flow from operating activities showed a negative net amount of RMB -14,352,212.97, a 183.00% increase in outflow due to higher prepayments[21] - Cash flow from operating activities for the first three quarters of 2020 was negative at -¥14.35 million, compared to -¥5.07 million in the same period of 2019[42] - The net cash flow from operating activities for the first three quarters of 2020 was -¥35,358,313.46, a decline from a positive net cash flow of ¥6,087,789.13 in the first three quarters of 2019[45] Assets and Liabilities - Total assets increased by 68.38% year-on-year, reaching CNY 1,319,909,924.30[7] - Current assets rose to CNY 943,948,813.45, compared to CNY 437,808,872.03, marking an increase of about 115.5%[28] - Total liabilities amounted to CNY 426,510,994.65, up from CNY 412,721,460.08, indicating a slight increase of about 3.9%[31] - Owner's equity surged to CNY 893,398,929.65, compared to CNY 371,153,478.12, showing an increase of approximately 140.5%[28] - The total liabilities to equity ratio improved, indicating a stronger financial position with total liabilities at CNY 426,510,994.65 against total equity of CNY 893,398,929.65[31] Inventory and Receivables - Accounts receivable increased by 74.32% to RMB 35,723,620.85, primarily due to an increase in customer settlements using notes[17] - Inventory levels rose by 49.34% to RMB 241,501,313.67, reflecting appropriate material stocking and unrecognized revenue from products not yet accepted by customers[17] - The company reported a significant increase in retained earnings, reaching CNY 288,036,850.19, up from CNY 267,672,133.24, which is an increase of approximately 7.5%[28] Financing Activities - The company raised RMB 418,457,486.66 through public stock issuance, marking a 2630.68% increase in cash flow from financing activities[21] - The capital reserve increased significantly by 7540.32% to RMB 488,243,419.49, due to the excess of funds raised over the paid-in capital[17] - The company reported cash inflows from financing activities of ¥557,488,000.00 in Q3 2020, significantly higher than ¥62,000,000.00 in Q3 2019[46] Research and Development - R&D expenditure accounted for 4.24% of revenue, a decrease of 0.64 percentage points from the previous year[8] - Research and development expenses for Q3 2020 were ¥7,499,338.89, an increase of 19.5% compared to ¥6,271,783.22 in Q3 2019[35] - R&D expenses for the first three quarters of 2020 totaled ¥20.46 million, slightly up from ¥20.19 million in the same period of 2019[39] Shareholder Information - The total number of shareholders reached 8,778, with the largest shareholder holding 37.91% of shares[13]