Financial Performance - Net profit attributable to shareholders rose by 41.11% to CNY 2,916,294.65 year-on-year[5] - Revenue decreased by 4.05% to CNY 25,024,280.72 compared to the same period last year[5] - Basic earnings per share increased by 33.33% to CNY 0.04[5] - Operating profit for Q1 2021 increased to CNY 3,767,801.05, compared to CNY 3,287,299.38 in Q1 2020, representing a growth of 14.61%[28] - Net profit for Q1 2021 was CNY 2,916,294.65, up from CNY 2,066,619.21 in Q1 2020, indicating an increase of 41.19%[28] - Total comprehensive income for Q1 2021 was CNY 1,185,877.08, down from CNY 2,229,288.09 in the same period last year[32] Assets and Liabilities - Total assets increased by 0.46% to CNY 572,258,162.35 compared to the end of the previous year[5] - The company's total assets as of March 31, 2021, amounted to 572,258,162.35 RMB, a slight increase from 569,655,651.90 RMB at the end of 2020[19] - Total liabilities as of March 31, 2021, were CNY 55,081,646.29, a decrease from CNY 55,513,728.69 at the end of 2020[24] - Shareholders' equity totaled CNY 514,182,317.98 as of March 31, 2021, compared to CNY 512,996,440.90 at the end of 2020[25] Research and Development - R&D investment accounted for 30.05% of revenue, an increase of 14.15 percentage points year-on-year[5] - Research and development expenses rose to 7,519,045.17 RMB, reflecting an increase of 81.31% from 4,147,132.68 RMB, indicating a stronger investment in R&D initiatives[13] - Research and development expenses for Q1 2021 were CNY 7,519,045.17, an increase from CNY 4,147,132.68 in Q1 2020, reflecting a growth of 81.00%[28] Cash Flow - Net cash flow from operating activities was negative at CNY -15,923,440.10[5] - The company reported a net cash outflow from operating activities of CNY -15,923,440.10, an improvement from CNY -20,713,006.85 in Q1 2020[34] - The company generated operating cash inflows of 22,069,297.68 RMB in Q1 2021, a 65% increase compared to 13,330,866.97 RMB in Q1 2020[37] - Cash outflows for operating activities totaled 36,341,564.06 RMB in Q1 2021, compared to 34,129,887.44 RMB in Q1 2020, reflecting a 6% increase in cash outflows[37] Shareholder Information - The total number of shareholders at the end of the reporting period was 5,643[10] - The largest shareholder, Mao Shanjun, holds 47.01% of the shares[10] Operating Costs - Operating costs decreased by 38.01% to 12,009,268.14 RMB from 19,374,157.12 RMB, attributed to improved project collaboration and cost control measures[13] - Total operating costs for Q1 2021 were CNY 25,408,962.05, down from CNY 27,903,139.03 in Q1 2020, reflecting a reduction of 8.96%[28] - The total operating costs for Q1 2021 were CNY 7,424,489.21, down from CNY 19,374,157.12 in Q1 2020, reflecting a decrease of 61.6%[31] Government Subsidies - The company received government subsidies related to a national key R&D project amounting to CNY 1,368,000.00[8]

Financial Performance - The company's operating revenue for 2020 was CNY 197,641,737.86, representing a year-on-year increase of 28.06% compared to CNY 154,339,974.24 in 2019[23]. - The net profit attributable to shareholders for 2020 was CNY 50,745,268.79, which is a 7.78% increase from CNY 47,081,735.98 in 2019[23]. - The net cash flow from operating activities decreased to CNY -11,980,101.29 in 2020, compared to CNY 37,691,480.97 in 2019, primarily due to the impact of the pandemic[25]. - The company's total assets at the end of 2020 were CNY 569,655,651.90, a slight decrease of 0.38% from CNY 571,802,582.02 at the end of 2019[23]. - The basic earnings per share for 2020 were CNY 0.72, down 19.10% from CNY 0.89 in 2019[24]. - The company's net assets attributable to shareholders decreased by 1.49% to CNY 511,666,114.46 at the end of 2020, compared to CNY 519,418,994.77 at the end of 2019[23]. - The weighted average return on equity for 2020 was 10.31%, a decrease of 16.67 percentage points from 26.98% in 2019[24]. - The net profit excluding non-recurring gains and losses for 2020 was CNY 49,570,082.83, reflecting a 3.16% increase from CNY 48,049,865.65 in 2019[23]. Research and Development - Research and development expenses accounted for 10.41% of operating revenue in 2020, an increase of 0.55 percentage points from 9.86% in 2019[24]. - The total R&D expenditure increased by 35.18% from the previous year, amounting to ¥20,581,832.46 compared to ¥15,225,495.06[80]. - The number of R&D personnel increased to 49, accounting for 14.45% of the total workforce, up from 11.25% in the previous year[90]. - The total compensation for R&D personnel reached 1,792.26 million RMB, compared to 1,322.11 million RMB in the previous year[90]. - The company significantly increased R&D efforts in 2020, with notable increases in personnel compensation, on-site testing, travel expenses, and patent maintenance fees[81]. - The company has independently obtained 29 software copyrights and 5 invention patents during the reporting period, with a total of 239 intellectual property rights accumulated[78]. Market and Business Strategy - The company aims to expand its market presence by providing tailored information solutions to large and medium-sized coal mines and government institutions[32]. - The company is positioned in a strategic emerging industry, focusing on software and information technology services, particularly in the coal industry[54]. - The company is focusing on expanding its market presence through the development of the LongRuan GIS platform, which integrates various applications in the coal mining industry[93]. - The company aims to enhance its competitive edge by continuously innovating and developing proprietary technologies in the coal mining sector[93]. - The company plans to expand its national marketing network and service system, including increasing personnel in existing branches and establishing new ones[142]. Risk Management - The company has detailed various operational risks and corresponding countermeasures in the report[3]. - The company faces risks related to market competition and the need for timely product iterations to meet evolving customer demands[101]. - The company is committed to enhancing risk prevention and control capabilities in coal mining through advanced monitoring and management technologies[58]. Corporate Governance - The company has not disclosed any special arrangements for corporate governance[8]. - The company aims to enhance its governance structure and operational standards to improve decision-making effectiveness and compliance[141]. - The company has established a three-party supervision system for the use of raised funds, involving the sponsor, custodian bank, and the company itself[160]. Shareholder Information - The proposed cash dividend for 2020 is CNY 2.18 per 10 shares, totaling CNY 15,423,500, which accounts for 30.39% of the net profit attributable to shareholders[5]. - The company committed to not transferring or entrusting the management of its shares for 36 months from the date of listing[149]. - The company will announce any share reductions three trading days in advance[151]. - The company plans to repurchase shares with a total amount not less than 10% of the previous fiscal year's audited net profit, and the total amount for a single fiscal year will not exceed 50% of the previous fiscal year's audited net profit[155]. Technology and Innovation - The company is leveraging IoT, big data, and cloud computing technologies to provide integrated solutions for emergency response and safety supervision[64]. - The company is developing intelligent mining technology, transitioning from the 2.0 era (automatic straightening) to the 3.0 era (transparent working face) since 2016, with a focus on high-precision 3D geographic modeling and intelligent mining control[69]. - The integration of GIS technology with cloud service architecture is enhancing the flexibility and efficiency of GIS services, supporting online collaboration in a cloud environment[73]. Financial Management - The total amount of raised funds is RMB 32,363.10 million, with RMB 6,744.85 million invested in the current year[180]. - The cumulative investment amount as of the end of the period is RMB 6,744.85 million, which is a shortfall of RMB 18,724.15 million compared to the committed investment amount[180]. - The company acknowledges the risk of short-term profit dilution due to the issuance of new shares, and plans to implement measures to mitigate this impact[158]. Social Responsibility - The company donated RMB 1 million for epidemic prevention materials during the COVID-19 pandemic and developed a free epidemic monitoring system for coal enterprises[188].

Financial Performance - Operating revenue for the first nine months was CNY 121,433,189.62, an increase of 15.18% year-on-year[7] - Net profit attributable to shareholders of the listed company was CNY 25,809,352.19, a decrease of 28.66% compared to the same period last year[7] - Basic earnings per share were CNY 0.36, down 47.06% from CNY 0.68 in the previous year[8] - The company anticipates potential significant changes in net profit compared to the previous year, but specific forecasts were not disclosed[30] - Total operating revenue for Q3 2020 was ¥38,428,110.91, a decrease of 3.34% compared to ¥39,755,070.09 in Q3 2019[40] - Net profit for Q3 2020 was ¥4,158,663.86, down 73.51% from ¥15,693,849.86 in Q3 2019[41] - Total profit for Q3 2020 was approximately ¥5.22 million, down from ¥18.23 million in Q3 2019, a decline of 71.5%[45] Cash Flow - The net cash flow from operating activities was CNY -14,183,852.28, indicating a significant decline compared to CNY 10,307,864.96 in the previous year[7] - Cash received from operating activities increased by 566.35% to CNY 7,872,993.57 compared to CNY 1,181,508.37 in the previous year[28] - The net cash flow from operating activities for Q3 2020 was -14,183,852.28 RMB, compared to a positive 10,307,864.96 RMB in Q3 2019, indicating a significant decline in operational performance[48] - Total cash inflow from operating activities for the first nine months of 2020 was 82,465,408.58 RMB, down 19.6% from 102,564,417.60 RMB in the same period of 2019[49] - The company experienced a decrease in cash flow from operating activities, with a net cash flow of -13,822,510.67 RMB for the first nine months of 2020, compared to a positive cash flow of 10,744,028.14 RMB in the same period of 2019[49] Assets and Liabilities - Total assets at the end of the reporting period were CNY 535,393,677.65, a decrease of 6.37% compared to the end of the previous year[7] - Current assets totaled CNY 512,418,090.41, down from CNY 556,457,640.84, indicating a decrease of about 7.91%[37] - Total liabilities decreased to CNY 48,663,479.79 from CNY 52,383,587.25, a decline of about 7.00%[35] - Shareholders' equity decreased to CNY 486,730,197.86 from CNY 519,418,994.77, reflecting a decrease of approximately 6.27%[35] - The total assets as of Q3 2020 were ¥537,357,466.47, compared to ¥574,265,490.13 in Q3 2019, indicating a decrease of 6.42%[38] - The company's total liabilities amounted to ¥52.38 billion, down from ¥85.14 billion, indicating a decrease of ¥32.75 billion[54] Research and Development - Research and development expenses accounted for 13.08% of operating revenue, an increase of 3.05 percentage points year-on-year[8] - Research and development expenses rose by 50.25% to CNY 15,888,995.87 from CNY 10,575,053.46 year-on-year[19] - Research and development expenses for Q3 2020 were ¥7,568,164.31, significantly higher than ¥3,394,880.16 in Q3 2019, reflecting a 122.36% increase[40] - The company plans to continue investing in R&D to drive future growth and innovation[46] Shareholder Information - The total number of shareholders at the end of the reporting period was 5,813[12] - The largest shareholder, Mao Shanjun, held 47.01% of the shares, totaling 33,259,466 shares[12] Inventory and Receivables - Accounts receivable decreased by 28.18% from CNY 144,739,762.46 to CNY 103,955,096.71[16] - Inventory increased significantly by 812.58% from CNY 4,019,362.14 to CNY 36,680,046.33[16] - The company reported a significant drop in accounts receivable, decreasing by ¥95.75 million to ¥144.84 million[57] - Inventory levels decreased by ¥45.12 million, totaling ¥3.86 million compared to ¥48.97 million previously[57] Changes in Accounting Standards - The company began implementing a new revenue recognition standard on January 1, 2020, leading to significant changes in various financial metrics[16] - The company implemented new revenue recognition standards starting January 1, 2020, leading to significant changes in accounts receivable, inventory, and other related assets[59]

Financial Performance - The company reported a total revenue of 100 million RMB for the first half of 2020, representing a year-on-year increase of 15%[1]. - The net profit attributable to shareholders was 20 million RMB, an increase of 10% compared to the same period last year[1]. - The company's operating revenue for the first half of 2020 was approximately ¥83 million, representing a 26.38% increase compared to ¥65.68 million in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2020 was approximately ¥21.65 million, a 5.70% increase from ¥20.48 million in the previous year[20]. - The total comprehensive income for the first half of 2020 was CNY 21,995,340.34, reflecting a significant increase compared to the previous period[152]. - The company reported a total profit of 1,265,012.82, which includes various non-operating income and expenses adjustments[23]. - The company achieved total operating revenue of ¥83,005,078.71, representing a year-on-year increase of 26.38%[64]. - The net cash flow from operating activities significantly decreased by 97.70% to approximately ¥219,617 from ¥9.55 million in the previous year[20]. Research and Development - The company has allocated 5 million RMB for research and development in new technologies for smart mining solutions[1]. - Research and development expenses accounted for 10.02% of operating revenue, a slight decrease of 0.91 percentage points from 10.93%[20]. - The company has achieved good results from its R&D investments, evidenced by the receipt of a new product and technology certificate from Beijing[41]. - The company has invested in research and development to meet diverse customer needs, focusing on practical innovation based on the LongRuan GIS platform[28]. - The company has developed a proprietary geographic information system platform, LongRuan GIS, to provide comprehensive solutions for the coal industry, integrating IoT, big data, and cloud computing technologies[26]. - The company has established a dual-engine research and development model with a focus on spatial information technology and intelligent equipment, enhancing its core platform capabilities[30]. - The company is focused on developing advanced technologies to support safe and efficient mining operations, leveraging big data and AI[46]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% growth in that region by the end of 2021[1]. - The company is focused on expanding its market presence through new product development and strategic partnerships in the mining industry[44]. - The marketing center manages regional service networks across major coal-producing areas, facilitating timely communication with clients and market opportunity identification[31]. - The company is actively participating in the construction of intelligent demonstration coal mines, integrating its LongRuan GIS technology[58]. - The company is considering strategic acquisitions to bolster its competitive position, with a budget of $H million allocated for potential deals[83]. Financial Position and Assets - The total assets at the end of the reporting period were approximately ¥528.79 million, a decrease of 7.52% from ¥571.80 million at the end of the previous year[20]. - The net assets attributable to shareholders decreased by 7.09% to approximately ¥482.57 million from ¥519.42 million at the end of the previous year[20]. - The company's total current assets were RMB 508,408,880.75, down from RMB 557,039,045.17, indicating a decrease of about 8.7%[123]. - The total liabilities decreased to RMB 46,221,634.55 from RMB 52,383,587.25, reflecting a reduction of approximately 11.7%[125]. - The company's equity attributable to shareholders decreased to RMB 482,571,534.00 from RMB 519,418,994.77, a decline of around 7.1%[125]. Risk Management - The management highlighted the importance of risk management strategies in mitigating operational risks, particularly in the context of market volatility[1]. - The company is committed to enhancing risk prevention capabilities in coal mining through advanced monitoring and regulatory measures[36]. - The company faces risks related to product iteration due to technological upgrades and the need for continuous R&D investment[59]. - The pandemic's ongoing global impact poses risks to the company's operational development and financial performance[63]. Technology and Innovation - The company has implemented a unified data center and software-hardware support platform for real-time monitoring and risk assessment in coal mine safety[11]. - LongRuan Safety Cloud integrates various technologies for comprehensive supervision and emergency management, enhancing the company's emergency management capabilities[11]. - The company is developing a cloud-based GIS platform aimed at providing standardized services to various mining industry users, with an expected total investment of ¥1,713.78 million[44]. - The company is also working on a safety production management system that integrates private and public cloud models, with an investment of ¥2,142.22 million[44]. - The company has developed a large-scale data visualization analysis technology for coal mines, integrating various data types to enhance safety monitoring and decision-making[39]. Shareholder and Governance - The company has not proposed any profit distribution or capital reserve transfer plan for the half-year period[79]. - The company has committed to not transferring or entrusting its shares for 36 months from the date of listing[80]. - The company has established a profit distribution plan to ensure continuous and stable returns to shareholders, with a commitment to actively promote profit distribution when conditions are met[94]. - The actual controller and major shareholder, Mao Shanjun, has committed to not interfere in the company's management and to ensure the fulfillment of return measures[94]. - The company will publicly disclose reasons for any failure to fulfill commitments made during the IPO process, ensuring transparency to shareholders and investors[96]. Compliance and Accounting - The company has implemented a new revenue recognition standard effective January 1, 2020, which changes the revenue recognition model for contracts with customers[105]. - The financial statements were prepared in accordance with the relevant accounting standards, ensuring compliance and accuracy in reporting[161]. - The company uses RMB as its functional currency for financial reporting[164]. - The company does not recognize changes in the fair value of equity instruments during their existence, treating dividends as profit distribution[186].

Financial Performance - Net profit attributable to shareholders decreased by 75.62% to CNY 2,066,619.21 year-on-year[9] - Operating revenue fell by 24.42% to CNY 26,079,861.38 compared to the same period last year[9] - Basic earnings per share dropped by 81.25% to CNY 0.03[9] - The company's net profit guidance indicates potential losses compared to the previous year, with significant changes expected in financial performance[24] - The net profit for Q1 2020 was CNY 2,066,619.21, down 75.6% from CNY 8,478,214.92 in Q1 2019[37] - The total profit for Q1 2020 was CNY 2,304,471.13, a decline of 77.8% from CNY 10,349,864.50 in Q1 2019[36] Revenue and Costs - Total operating revenue for Q1 2020 was CNY 26,079,861.38, a decrease of 24.5% compared to CNY 34,505,163.24 in Q1 2019[35] - Total operating costs increased to CNY 27,903,139.03 in Q1 2020, up 15.5% from CNY 24,106,094.18 in Q1 2019[35] - The company's net profit margin decreased significantly due to rising costs, with operating costs per revenue increasing from 69.8% in Q1 2019 to 107% in Q1 2020[35] - Operating costs increased by 44.33% to ¥19,374,157.12 from ¥13,423,422.09[19] Cash Flow and Liquidity - Net cash flow from operating activities decreased by 69.06% to CNY -20,713,006.85 year-on-year[9] - The company reported a net cash outflow from operating activities of CNY -20,713,006.85 in Q1 2020, compared to CNY -12,251,805.35 in Q1 2019[40] - The company’s cash flow from operating activities saw a 59.60% decrease in tax payments, totaling ¥3,015,497.33 compared to ¥7,464,787.03[21] - Total cash and cash equivalents at the end of Q1 2020 were 341,994,074.03 RMB, down from 365,339,069.50 RMB at the beginning of the quarter, reflecting a decrease of 23,344,995.47 RMB[44] Assets and Liabilities - Total assets decreased by 5.72% to CNY 539,103,439.96 compared to the end of the previous year[9] - Total liabilities increased to CNY 62,879,884.86 in Q1 2020, compared to CNY 54,059,589.07 in Q1 2019, reflecting a 16.5% rise[32] - The equity attributable to shareholders decreased to CNY 478,653,040.05 from CNY 520,205,901.06, a drop of 8%[32] - The company reported a significant increase in contract liabilities, reaching CNY 29,559,089.15, reflecting a growing backlog of orders[31] Research and Development - R&D investment as a percentage of operating revenue increased by 8.63 percentage points to 15.90%[10] - Research and development expenses rose by 65.33% to ¥4,147,132.68 from ¥2,508,387.01[19] - Research and development expenses increased to CNY 4,147,132.68 in Q1 2020, up 65.3% from CNY 2,508,387.01 in Q1 2019[38] Shareholder Information - The total number of shareholders reached 6,970 by the end of the reporting period[15] - The largest shareholder, Mao Shanjun, holds 47.01% of the shares[15] Other Income and Expenses - The company reported a significant decrease in tax expenses by 87.29%, amounting to ¥237,851.92 compared to ¥1,871,649.58 in the previous year[19] - Other income increased due to tax refunds and subsidies, totaling ¥6,061,027.59[19] - The company incurred credit impairment losses of CNY -950,450.56 in Q1 2020, compared to a gain of CNY 252,943.41 in Q1 2019[39]

Financial Performance - The company's total revenue increased by 23.00%, driven by the rapid development of the energy security information industry, with significant sales growth in the core product, LongRuanGIS safety production shared management platform[22]. - The net profit attributable to shareholders increased by 51.16% to CNY 47,081,735.98, while the net profit after deducting non-recurring gains and losses rose by 51.27% to CNY 48,049,865.65[21][23]. - The net cash flow from operating activities surged by 330.23% to CNY 37,691,480.97, attributed to increased revenue and improved collection of receivables[21][23]. - The company's net assets grew by 229.54% to CNY 519,418,994.77, and total assets increased by 157.85% to CNY 571,802,582.02, primarily due to the IPO fundraising and profit growth[21][23]. - Basic earnings per share rose by 50.85% to CNY 0.89, while diluted earnings per share also increased by 50.85% to CNY 0.89[22]. - The company achieved total revenue of ¥154,339,974.24, representing a year-on-year growth of 23.00%[95]. - Net profit attributable to shareholders was ¥47,081,735.98, an increase of 51.16% compared to the previous year[95]. - The net cash flow from operating activities reached ¥37,691,480.97, showing a significant increase of 330.23% year-on-year[95]. Research and Development - The proportion of R&D investment to operating income was 9.86%, an increase of 0.63 percentage points compared to the previous year[22]. - The total R&D expenditure for the period was $15,225,495.06, accounting for 9.86% of the operating revenue[78]. - The number of R&D personnel is 36, representing 11.25% of the total workforce[78]. - The company has made significant investments in research and development, reflecting its commitment to innovation and technological advancement in the coal mining sector[77]. - The company is focusing on the development of unmanned or minimally manned coal mines, utilizing advanced technologies such as robotics and underground navigation systems[70]. - The company is developing a comprehensive positioning technology that integrates domestic inertial navigation and ultra-wideband wireless positioning, aiming for high-precision absolute positioning in mining operations[85]. - The company is committed to enhancing its competitive edge through increased investment in technology R&D and innovation, while also participating in industry standard-setting[154]. Governance and Compliance - The company has outlined its governance structure and compliance with relevant regulations in the report[6]. - The board of directors and senior management have confirmed the accuracy and completeness of the financial report[5]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[6]. - The company has not violated any decision-making procedures in providing guarantees to external parties[6]. - The company emphasizes a stable and reasonable profit distribution policy, balancing short-term and long-term interests of shareholders[137]. - The company will ensure compliance with relevant laws and regulations regarding share transfers[143]. - The company has committed to avoid any related party transactions that could harm shareholder interests, ensuring compliance with relevant regulations[156]. Market and Product Development - The company plans to continue expanding its market presence and enhancing its core product offerings in the energy security sector[23]. - The company aims to enhance its market presence by leveraging its proprietary GIS platform to offer comprehensive information solutions to government and industrial clients[32]. - The company is positioned in a rapidly growing software and information technology service industry, with increasing demand for industry-specific application software and specialized services[52]. - The company has developed a comprehensive technical and product system in the field of intelligent mining information, offering solutions such as LongRuanGIS and smart emergency response systems[33]. - The company is focusing on the intelligent development of coal mining, integrating AI, IoT, and big data to enhance safety and operational efficiency[130]. - The company plans to achieve intelligent coal mining by 2021, with a focus on automation and remote monitoring, aiming for a reduction in personnel and increased efficiency[131]. Risks and Challenges - The company faces risks related to high customer concentration, with over two-thirds of revenue coming from the top five clients[99]. - The market outlook for the LongRuanGIS safety production sharing platform is uncertain, influenced by potential changes in marketing strategies and industry policies[100]. - The company faces risks related to changes in national coal industry policies and the impact of the COVID-19 pandemic on global economic development[103]. - The company acknowledges the risk of short-term profit decline due to the time required for the raised funds to generate benefits, which may lead to a dilution of immediate returns[151]. Shareholder and Capital Management - The proposed profit distribution plan for 2019 includes a cash dividend of 2.08 CNY per 10 shares, totaling approximately 14,716,000 CNY, which represents 31.26% of the net profit attributable to shareholders for the year[5]. - The company will ensure investor rights are protected and will compensate investors for losses caused by any false statements or omissions in the prospectus[151]. - The company has established a future dividend return plan for shareholders, applicable for the year of listing and the following two years, to ensure effective returns[154]. - The company will actively implement measures to enhance shareholder value and achieve sustainable development[151]. - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing[142]. Legal and Regulatory Matters - The company has ongoing civil lawsuits regarding the infringement of its trade secrets and software copyrights, with cases being processed by the Beijing Intellectual Property Court since August and September 2017[164]. - The company has appointed Zhongzheng Zhonghuan Accounting Firm as its new auditor for the fiscal year 2019, following the departure of the previous audit team[161]. Social Responsibility - The company actively participates in social responsibility initiatives, including establishing scholarships at 18 universities to encourage student development[173].