Financial Performance - The company reported a revenue of 156.02 million yuan for the year 2021, with a net loss attributable to shareholders of 79.93 million yuan[4]. - The company's operating revenue for 2021 was approximately ¥156.02 million, representing a year-on-year increase of 14.80% compared to ¥135.91 million in 2020[22]. - The net loss attributable to shareholders for 2021 was approximately ¥79.93 million, which is a 46.74% increase in loss compared to ¥54.47 million in 2020[24]. - Basic earnings per share for 2021 were a loss of ¥0.19, which is a 35.71% increase in loss compared to ¥0.14 in 2020[25]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in 2021, representing a growth of 25% year-over-year[169]. - The company reported a net profit of 1,006.95 million, indicating a strong financial performance[168]. - The total revenue for the company reached 7,566.40 million, with a slight increase to 7,650.9 million, representing a growth of 84.5% year-over-year[168]. Research and Development - Research and development expenses increased by 48.14% year-on-year, accounting for approximately 70.37% of total revenue[4]. - The company achieved a total R&D investment of approximately ¥109.79 million, representing a 48.14% increase compared to the previous year[83]. - The company has established a robust R&D team with 98 personnel, accounting for 34.88% of the total workforce, including 52 with master's degrees or higher[48]. - The company submitted 90 new patent applications during the reporting period, including 31 invention patent applications, and obtained 63 new patent authorizations[42]. - The company has developed a comprehensive R&D system that includes cutting-edge technology research, advanced product pre-research, and product development, collaborating with universities and research institutions on national and provincial-level projects[55]. - The company is committed to increasing investment in cutting-edge technology and research and development[156]. Market Expansion and Strategy - The company plans to continue expanding its market share and accelerating the implementation of application scenarios[5]. - The company is focused on expanding its market presence and providing comprehensive services to various levels of medical institutions[49]. - The company is positioned as a leading player in the domestic orthopedic surgical robot market, competing with international firms like Johnson & Johnson and Medtronic[59]. - The orthopedic surgical robot market is expected to grow rapidly, with increasing recognition and acceptance among doctors and patients, expanding from first and second-tier cities to regional medical centers[153]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by 2023[169]. - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the market[168]. Product Development and Innovation - The upgraded product "Tianji 2.0" orthopedic surgical robot received NMPA certification and was launched during the reporting period[36]. - The company is developing THA (Total Hip Arthroplasty Robot) and TKA (Total Knee Arthroplasty Robot), with clinical trials for the knee joint product completed[37]. - The company has completed over 20,000 surgeries using its third-generation orthopedic surgical robots across more than 100 medical institutions[51]. - The company has developed a training platform for orthopedic surgeons to enhance their skills in robotic-assisted surgeries[46]. - The company is developing the next-generation orthopedic surgical robot system platform (Tianji 3.0) and plans to launch single-function orthopedic surgical robots for spine and trauma markets[156]. Challenges and Risks - The company has faced challenges in new product and technology development due to high technical barriers and long R&D cycles[97]. - The ongoing COVID-19 pandemic has negatively affected the sales expansion and installation acceptance of orthopedic surgical robots, leading to a decline in patient visits[101]. - The company is at risk of core technology leakage, which could undermine its competitive advantage in the technology-intensive orthopedic surgical robot industry[98]. - The company faces risks related to the promotion of orthopedic surgical robots due to high costs and uneven distribution of medical resources, which may impact sales[100]. Governance and Management - The report includes details of shareholding changes and compensation for key management personnel[166]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 7.5542 million RMB[176]. - The company has a complete decision-making process for the cash dividend policy, ensuring the protection of minority shareholders' rights[194]. - The company has no reported dissenting opinions from the board regarding company matters during the reporting period[183]. Financial Position and Cash Flow - The net cash flow from operating activities decreased by 35.04% year-on-year, primarily due to reduced cash receipts from sales and increased cash payments to employees[25]. - The company's total assets at the end of the reporting period were 1,287,112,585.08 yuan, with cash and cash equivalents accounting for 22.45% of total assets, down from 41.85% in the previous period, reflecting a 38.70% decrease[137]. - The company's total liabilities increased, with accounts payable rising by 195.17% to 13,909,068.51 yuan, reflecting higher payments for goods and long-term asset purchases[139]. - The company reported a significant decrease in net cash flow from financing activities due to reduced cash received from investments compared to the previous year[113].

Financial Performance - The company's operating revenue for Q1 2022 was ¥17,154,459.17, representing a decrease of 23.84% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥28,768,004.29, and the net profit after deducting non-recurring gains and losses was -¥33,142,880.40, both not applicable for year-on-year comparison[5]. - The net loss for Q1 2022 was CNY 29,868,143.23, compared to a net loss of CNY 25,042,478.69 in Q1 2021, reflecting a worsening of 15.3%[20]. - The total comprehensive income for Q1 2022 was -29,898,391.14 RMB, slightly improved from -31,356,753.58 RMB in Q1 2021[21]. - The net profit attributable to shareholders of the parent company for Q1 2022 was -28,768,004.29 RMB, compared to -24,462,266.30 RMB in Q1 2021, indicating a decline in profitability[21]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥50,080,568.65, with a significant decrease in government subsidies received compared to the previous year[6]. - The net cash flow from operating activities for Q1 2022 was -50,080,568.65 RMB, worsening from -10,322,097.52 RMB in Q1 2021[25]. - Cash and cash equivalents decreased to CNY 249,293,892.68 from CNY 287,112,585.08 as of December 31, 2021, a decline of 13.1%[16]. - The cash and cash equivalents at the end of Q1 2022 were 249,293,892.68 RMB, down from 690,435,358.03 RMB at the end of Q1 2021, a decrease of about 64.2%[26]. - The company reported a significant increase in cash outflows for operating activities, totaling 97,653,561.78 RMB in Q1 2022, compared to 71,846,332.90 RMB in Q1 2021[25]. Research and Development - Research and development expenses totaled ¥21,093,619.30, accounting for 122.96% of operating revenue, an increase of 13.60 percentage points year-on-year[6]. - The company reported R&D expenses of CNY 21,093,619.30, down 14.3% from CNY 24,632,032.55 in Q1 2021[20]. - The company reported that its R&D expenses as a percentage of revenue were 33.55%, 54.53%, and 70.37% from 2019 to 2021, highlighting a significant investment in innovation[14]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,241,803,906.09, down 2.91% from the end of the previous year[6]. - Total assets decreased to CNY 1,241,803,906.09 from CNY 1,279,050,151.42, a reduction of 2.9%[17]. - Total liabilities decreased to CNY 204,134,860.43 from CNY 211,482,714.62, a decline of 3.5%[17]. - The company's total equity decreased to CNY 996,960,531.03 in Q1 2022 from CNY 1,020,883,018.35 in the previous quarter, a decline of 2.3%[29]. Market and Operational Challenges - The company faced delays in the acceptance of orthopedic surgical robots due to COVID-19 outbreaks, impacting revenue recognition during the reporting period[13]. - The company faces risks of not being profitable in the near term due to low sales volume influenced by market recognition and high product prices[13]. - The orthopedic surgical robot's high acquisition costs and complex purchasing processes contribute to extended sales cycles and uncertainty in sales[13]. - The company’s core products have achieved sales in key hospitals, but broader market penetration remains challenging due to financial constraints in lower-tier medical institutions[13]. - The company’s focus on high-end medical equipment involves substantial upfront R&D investments and lengthy approval processes, which may exacerbate financial losses[14]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 16,639[10]. - The largest shareholder, Zhang Songgen, holds 75,664,000 shares, accounting for 18.02% of the total shares[11]. Investment Activities - The company has received approval from the China Securities Regulatory Commission for a specific stock issuance, indicating ongoing capital raising efforts[13]. - Investment activities resulted in a net cash outflow of -1,048,907.45 RMB in Q1 2022, a sharp decline from a net inflow of 237,061,930.76 RMB in Q1 2021[25].

Financial Performance - The company reported a revenue of RMB 156.02 million for the year 2021, with a net loss attributable to shareholders of RMB 79.93 million[4]. - The company's operating revenue for 2021 was approximately CNY 156.02 million, representing a year-on-year increase of 14.80% compared to CNY 135.91 million in 2020[22]. - The net loss attributable to shareholders for 2021 was CNY -79.93 million, which is a 46.74% increase in loss compared to CNY -54.47 million in 2020[24]. - The basic earnings per share for 2021 was a loss of CNY -0.19, which is a 35.71% increase in loss compared to CNY -0.14 in 2020[25]. - The net cash flow from operating activities decreased by 35.04% year-on-year, primarily due to reduced cash receipts from sales and increased cash payments to employees[25]. - The company reported a total non-recurring profit and loss of 23.29 million yuan for the year[30]. - The company reported a significant decrease in net cash flow from financing activities, primarily due to a lack of new capital inflow compared to the previous year[109]. - The company’s total liabilities increased significantly, with accounts payable rising by 195.17% to ¥13.91 million, reflecting higher purchase obligations[134]. Research and Development - Research and development expenses increased by 48.14% year-on-year, accounting for approximately 70.37% of total revenue[4]. - R&D investment reached 109.79 million yuan, accounting for 70.37% of the main business revenue during the reporting period[36]. - The company reported a significant increase in R&D investment, reflecting its commitment to innovation and product development despite financial losses[25]. - The company has a dedicated R&D team of 98 personnel, accounting for 34.88% of total employees, with 53.06% holding master's degrees or higher[48]. - The company submitted 90 new patent applications during the reporting period, including 31 invention patent applications, and obtained 63 new patent authorizations[42]. - The company has developed a comprehensive R&D system that includes cutting-edge technology research, advanced product pre-research, and product development, collaborating with universities and research institutions on national and provincial-level projects[55]. - The company has developed a series of multimodal medical image preprocessing and fusion algorithms for orthopedic surgical robots, enabling pixel-level precision integration of preoperative and intraoperative images[64]. - The company achieved a success rate that meets clinical needs in the research of AI algorithms for automatic planning in lumbar spine surgery during small sample validation[65]. Market and Competition - The market awareness of orthopedic surgical robots is rapidly increasing, but achieving an ideal level of recognition will take time[5]. - The company is positioned as a leading player in the domestic orthopedic surgical robot market, competing with international firms like Johnson & Johnson and Medtronic[59]. - The orthopedic surgical robot industry is characterized by high technical barriers, requiring long-term technological accumulation and continuous investment, making it challenging for new entrants[58]. - The company is experiencing intensified competition from major multinational medical device companies, which could threaten its market share and profitability[103]. - The company plans to continue expanding its market share and accelerating the implementation of application scenarios[5]. Product Development and Innovation - The third-generation product "Tianji 2.0" orthopedic surgical robot received NMPA certification and was launched during the reporting period[36]. - The company successfully integrated ultrasound bone knife and high-speed milling systems into orthopedic surgical robots, expanding their functionality[38]. - The company has completed over 20,000 surgeries using its third-generation orthopedic surgical robots across more than 100 medical institutions[51]. - The company has developed a modular design technology for surgical tools, allowing the orthopedic surgical robot to perform over ten different surgical procedures and continue to expand its capabilities[71]. - The company is committed to advancing digital operating room solutions tailored for orthopedic surgical robots, integrating remote planning and real-time communication capabilities[76]. Operational Challenges - The company focused on orthopedic surgical robots, increasing investments in new technologies and market expansion, which impacted current profitability[24]. - The company experienced challenges in market promotion activities due to ongoing pandemic control measures, affecting the procurement and usage of its main products[24]. - The ongoing COVID-19 pandemic has negatively impacted the company's sales expansion and installation acceptance, leading to a decline in orthopedic patient visits[101]. - The company faces risks related to the uneven distribution of medical resources in China, which affects the promotion of its orthopedic surgical robots[100]. Strategic Initiatives - The company plans to raise funds through a specific stock issuance to establish a comprehensive R&D, sales, and operation system for its orthopedic surgical robots[45]. - The company aims to enhance its market presence by establishing orthopedic surgical robot application demonstration centers and academic training centers[148]. - The company is focused on improving the conversion rate of installed orthopedic surgical robots in hospitals and enhancing customer service efficiency[150]. - The company is integrating PLM and ERP systems to enhance the intelligent management level of its supply chain[151]. Human Resources and Management - The company employed a total of 281 staff members, with 212 in the parent company and 69 in major subsidiaries[183]. - The company has a structured compensation decision-making process based on performance metrics and responsibilities of its directors and senior management[169]. - The company emphasizes talent development through annual training plans and various training programs for employees[185]. - The total compensation for core technical personnel at the end of the reporting period was RMB 251.53 million[170]. Future Outlook - The company provided guidance for the next fiscal year, projecting a revenue growth of 25% to 1.875 billion[162]. - The company plans to develop the next-generation orthopedic surgical robot system (Tianji 3.0) and expand its product line to include single-function orthopedic surgical robots for spine and trauma[149]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by 2023[162].

Financial Performance - The company's operating revenue for Q1 2022 was ¥17,154,459.17, representing a decrease of 23.84% compared to the same period last year[5] - The net profit attributable to shareholders was -¥28,768,004.29, and the net profit after deducting non-recurring gains and losses was -¥33,142,880.40, both not applicable for year-on-year comparison[5] - The net loss for Q1 2022 was CNY 29,868,143.23, compared to a net loss of CNY 25,042,478.69 in Q1 2021, reflecting a deterioration of 19.5%[19] - The company's total comprehensive loss for Q1 2022 was CNY 23,922,487.32, compared to CNY 20,222,046.95 in Q1 2021, marking an increase in comprehensive losses of 13.4%[29] - The basic and diluted earnings per share were both -¥0.07, not applicable for year-on-year comparison[6] - Other comprehensive income after tax for Q1 2022 was CNY -30,247.91, compared to CNY -6,314,274.89 in Q1 2021, indicating a significant change in financial performance[20] Cash Flow and Liquidity - The net cash flow from operating activities was -¥50,080,568.65, with a significant decrease attributed to reduced government subsidies received compared to the previous year[6] - The company reported a significant increase in cash paid for goods and services, totaling CNY 23,903,756.45 in Q1 2022, compared to CNY 4,206,576.01 in Q1 2021[21] - The company's cash and cash equivalents at the end of Q1 2022 were CNY 249,293,892.68, down from CNY 690,435,358.03 at the end of Q1 2021[22] - The company reported a net increase in cash and cash equivalents of -CNY 37,818,692.40, compared to a net increase of CNY 222,033,340.16 in Q1 2021[22] - The net cash flow from operating activities for Q1 2022 was negative CNY 44,573,362.90, compared to negative CNY 40,581,659.77 in Q1 2021, showing a worsening cash flow situation[29] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,241,803,906.09, down 2.91% from the end of the previous year[6] - The total assets decreased to CNY 1,241,803,906.09 from CNY 1,279,050,151.42, a decline of 2.9%[17] - Total liabilities decreased to CNY 204,134,860.43 from CNY 211,482,714.62, a reduction of 3.5%[17] - The company's equity attributable to shareholders decreased by 2.86% to ¥978,148,979.47 compared to the end of the previous year[6] - The total equity of the company as of March 31, 2022, was CNY 996,960,531.03, down from CNY 1,020,883,018.35 at the end of 2021[26] Research and Development - Research and development expenses totaled ¥21,093,619.30, accounting for 122.96% of operating revenue, an increase of 13.60 percentage points year-on-year[6] - The company completed the clinical trial enrollment for the TiRobot Recon knee replacement robot, marking a significant advancement in its R&D efforts[14] - The company successfully launched the Viper PrimeTM spinal robot solution, which has been implemented in multiple hospitals, including Beijing Jishuitan Hospital and Shandong Qilu Hospital[14] - Research and development expenses for Q1 2022 were CNY 21,093,619.30, down from CNY 24,632,032.55 in Q1 2021, indicating a decrease of 14.3%[19] - Research and development expenses for Q1 2022 amounted to CNY 16,449,446.59, down from CNY 22,690,293.08 in Q1 2021, indicating a reduction of 27.5%[28] Operational Highlights - The company faced delays in revenue recognition for orthopedic surgical robots due to pandemic-related disruptions[14] - The company is actively pursuing the "purchase of technology services" model, which has led to signed agreements and installations during the reporting period[14] - The company has received approval from the China Securities Regulatory Commission for a specific stock issuance, indicating ongoing capital-raising efforts[14] - The company reported a significant increase in sales expenses to CNY 16,173,564.10 from CNY 13,961,964.71, an increase of 15.4%[19] Inventory and Receivables - Accounts receivable decreased significantly from ¥27,254,544.36 to ¥14,886,142.21, a reduction of about 45.5%[15] - Inventory increased from ¥37,944,429.67 to ¥46,126,709.41, reflecting a rise of about 21.5%[15] - The total current assets decreased from ¥507,420,874.11 to ¥459,593,113.21, a decline of approximately 9.4%[15] - The company's fixed assets increased from ¥40,539,956.56 to ¥51,255,160.69, an increase of approximately 26.4%[15]

Financial Performance - The company's operating revenue for Q3 2021 was ¥28,400,541.21, representing a decrease of 1.00% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥25,057,757.08, with a year-to-date loss of ¥63,764,563.64[5]. - Total revenue for the first three quarters of 2021 reached ¥104,797,152.65, a significant increase from ¥76,443,945.53 in the same period of 2020, representing an increase of approximately 37.2%[22]. - The company reported a net loss of ¥73,953,293.91 for the first three quarters of 2021, compared to a net loss of ¥59,685,979.29 in the same period of 2020, indicating a worsening of approximately 24.0%[23]. - The net loss for Q3 2021 was approximately ¥64.20 million, compared to a net loss of ¥53.47 million in Q3 2020, representing an increase in loss of about 20% year-over-year[24]. - The total comprehensive loss attributable to the parent company was approximately ¥62.55 million in Q3 2021, compared to a loss of ¥55.94 million in the same period last year, indicating a 12% increase in loss[25]. - The basic and diluted earnings per share for Q3 2021 were both -¥0.15, compared to -¥0.13 in Q3 2020[25]. Research and Development - Research and development (R&D) expenses totaled ¥23,187,664.24 for the quarter, an increase of 100.44% year-on-year, and accounted for 81.65% of operating revenue, up 41.32 percentage points[6][11]. - The increase in R&D investment was attributed to higher material and design development costs, as well as an increase in R&D personnel and their average salaries[11]. - Research and development expenses surged to ¥69,879,548.32 in the first three quarters of 2021, up from ¥42,633,472.36 in 2020, reflecting a growth of approximately 63.9%[23]. - The company plans to raise up to 1.34 billion RMB to establish a comprehensive R&D, sales, and operation system to support its orthopedic surgical robot platform[15]. - The company emphasizes the importance of investor awareness regarding the risks associated with its ongoing research and development projects[15]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,144,637,865.76, reflecting a 2.27% increase from the end of the previous year[6]. - As of September 30, 2021, total assets amounted to ¥1,144,637,865.76, a slight increase from ¥1,119,280,166.10 at the end of 2020[20]. - Current assets decreased to ¥549,305,426.55 from ¥794,320,929.73 at the end of 2020, representing a decline of approximately 30.9%[20]. - Total liabilities increased to ¥168,282,729.57 from ¥92,729,036.15 at the end of 2020, reflecting an increase of approximately 81.4%[20]. - The company's equity attributable to shareholders decreased to ¥945,467,212.20 from ¥996,031,484.25 at the end of 2020, a decline of about 5.1%[20]. - The company has reported a significant increase in accounts receivable, which rose to ¥33,873,216.34 from ¥15,915,481.94, marking an increase of approximately 112.5%[20]. Cash Flow - The company reported a cash flow from operating activities of -¥82,650,277.44 year-to-date[6]. - Cash inflows from operating activities for the first three quarters of 2021 totaled approximately ¥153.51 million, an increase from ¥111.31 million in the same period of 2020[26]. - The net cash outflow from operating activities for Q3 2021 was approximately ¥82.65 million, an improvement from a net outflow of ¥113.02 million in Q3 2020[27]. - The total cash and cash equivalents at the end of Q3 2021 were approximately ¥416.63 million, a decrease from ¥437.28 million at the end of Q3 2020[27]. - The company received cash from sales of goods and services amounting to approximately ¥82.55 million in the first three quarters of 2021, slightly down from ¥83.84 million in the same period of 2020[26]. Market and Product Development - The company has developed a surgical robot integrated with an ultrasonic bone knife system, which has successfully assisted in three surgeries, marking a significant advancement in orthopedic surgery technology[15]. - The "Tianji 2.0" orthopedic surgical robot was approved for market launch in February 2021, indicating a growth trend in the company's product lineup[15]. - The Beijing Medical Insurance Bureau has included the company's robotic-assisted orthopedic surgeries and disposable robotic instruments in the medical insurance payment directory, effective October 23, 2021[16]. - The inclusion in the medical insurance payment category is expected to positively impact the promotion of the company's products and increase the volume of orthopedic robotic surgeries[16]. - The company is focusing on expanding its market presence and enhancing its competitive edge in the orthopedic surgery sector[15]. Shareholder Information - The top shareholder, Zhang Songgen, holds 18.02% of the shares, while the second-largest shareholder, Beijing Zhihui Hechuang Investment Partnership, holds 7.87%[14]. - The company has a total of 15,668 common shareholders at the end of the reporting period[14].

Financial Performance - The company's operating revenue for the first half of 2021 was 76.3966 million RMB, representing a growth of 59.97% compared to the same period last year[18]. - The basic earnings per share for the first half of 2021 was -0.09 RMB, unchanged from the same period last year[18]. - The net profit attributable to shareholders for the reporting period decreased by 13.62% compared to the same period last year, primarily due to a decrease in investment income by 7.3526 million RMB[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses narrowed by 437.50 thousand RMB, a decrease of 8.37% year-on-year, mainly due to a reduction in non-recurring gains and losses by 901.51 thousand RMB, a decrease of 49.60%[19]. - The net cash flow from operating activities increased by 17.6083 million RMB compared to the same period last year, mainly due to an increase in government subsidies received[19]. - The company achieved a revenue of 16,998.40 million RMB in the first half of 2021, representing a significant increase compared to the previous period[57]. - The company reported a net loss of CNY 150,890,693.16 for the period, compared to a loss of CNY 117,172,394.60 in the previous period[167]. - The company reported a total cash inflow from operating activities of 47,201,288.11 RMB in the first half of 2021, down from 62,804,313.81 RMB in the first half of 2020, a decrease of 24.8%[182]. Research and Development - The research and development expenditure accounted for 61.12% of operating revenue, a decrease of 3.93 percentage points compared to the previous year[18]. - The company emphasizes independent research and development, collaborating with universities and research institutions to strengthen its R&D capabilities[27]. - Total R&D investment reached approximately ¥46.69 million, a significant increase of 50.30% compared to the previous period, with R&D expenses accounting for 61.12% of operating revenue[53][54]. - The company submitted 17 new patent applications during the reporting period, including 6 invention patents, and obtained 26 new patent authorizations, with 7 being invention patents[50]. - The company has accumulated a total of 270 patent applications, including 99 invention patents, and has 171 patents authorized, with 36 being invention patents[51]. - The company has developed high-precision online calibration technology for surgical robots, achieving an error margin of less than 0.5 mm[35]. - The company has successfully implemented AI algorithms for automatic surgical planning, achieving a success rate of 90% in small sample validations[37]. - The company has developed the Tianji® 2.0 surgical robot, which has received medical device registration and is now available for sale, covering multiple surgical procedures[56]. Market Position and Strategy - The company is a leading enterprise in the orthopedic surgical robot industry in China and aims to reshape the orthopedic surgical process through intelligent methods[23]. - The global surgical robot market is projected to grow from $3 billion in 2015 to $8.3 billion in 2020, with a compound annual growth rate (CAGR) of 22.57%[31]. - The orthopedic surgical robot market accounted for approximately 52% of the global orthopedic surgical robot market in 2020, valued at $725 million[31]. - The global surgical robot market is expected to reach $33.6 billion by 2026, with a CAGR of 26.2% from 2020[30]. - The company is focusing on international market expansion, with ongoing efforts to meet IEC standards and obtain international certifications[56]. - The company is a leading player in the domestic orthopedic surgical robot market, holding a significant market share[31]. - The company is focusing on expanding its market presence and enhancing clinical service capabilities to drive performance improvement[67]. Operational Risks and Challenges - The company is committed to addressing various operational risks as detailed in the report[3]. - The company is facing risks related to high R&D costs and long approval processes for new products, which may impact profitability in the short term[71]. - The company faces risks from intensified competition in the orthopedic surgical robot market, particularly from major players like Medtronic and Stryker[76]. - The company must secure product registration renewals to maintain sales; failure to do so could adversely affect operations and profitability[78]. - The company's direct sales to medical institutions are irregular, influenced by factors such as the COVID-19 pandemic, which may affect revenue consistency[81]. Shareholder and Governance Matters - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital during the reporting period[4]. - The company has not faced any environmental pollution incidents or administrative penalties related to environmental protection during the reporting period[107]. - The company has not reported any significant matters during the reporting period[146]. - The company has established a commitment to adhere to the rules of the Shanghai Stock Exchange concerning the management of shares held by directors and senior management for 12 months post-IPO[113]. - The company will not reduce holdings of shares held by employees for 36 months post-IPO, ensuring stability in share ownership[113]. - The company has committed to not transferring or entrusting shares held prior to the IPO for 36 months from the date of listing[110]. Financial Position and Assets - Total assets grew by 4.23% compared to the end of the previous year, while net assets attributable to shareholders decreased by 2.73%[19]. - The company's cash and cash equivalents amounted to RMB 627,024,238.95, an increase from RMB 468,402,017.87 at the end of 2020, representing a growth of approximately 33.9%[165]. - The company's trading financial assets decreased to RMB 22,089,713.00 from RMB 252,250,859.45, indicating a decline of approximately 91.2%[165]. - Total liabilities amounted to CNY 168,061,578.01, up from CNY 92,729,036.15, marking an increase of approximately 80.9%[167]. - The total equity of the company stood at ¥995,092,721.68, slightly down from ¥1,014,289,512.31 in the same period last year, indicating a decrease of approximately 1.9%[172].

Financial Performance - Operating revenue for the first quarter was CNY 22,523,377.19, representing a 4.14% increase year-on-year[5] - Net profit attributable to shareholders was CNY -24,462,266.30, showing a significant decline compared to CNY -13,468,831.25 in the same period last year[5] - The company reported a net loss of CNY -136,646,152.90, compared to a loss of CNY -117,172,394.60 in the previous period[34] - The net loss for the first quarter was ¥25,042,478.69, widening the loss compared to the same period last year[27] - Basic and diluted earnings per share were both CNY -0.06, compared to CNY -0.04 in the same period last year[5] - Comprehensive loss for Q1 2021 totaled ¥31,356,753.58, compared to a loss of ¥18,397,477.63 in Q1 2020[42] - Operating profit for Q1 2021 was a loss of ¥28,253,033.96, compared to a loss of ¥15,351,539.12 in Q1 2020, indicating a worsening operational performance[41] Research and Development - Research and development expenses accounted for 109.36% of operating revenue, an increase of 43.02 percentage points from the previous year[5] - R&D expenses grew by 71.68% to ¥24,632,032.55 from ¥14,347,946.75, driven by an increase in R&D personnel[21] - Research and development expenses in Q1 2021 were ¥24,632,032.55, a significant increase of 72.06% from ¥14,347,946.75 in Q1 2020[40] Cash Flow and Liquidity - The company reported a net cash flow from operating activities of CNY -10,322,097.52, an improvement from CNY -59,753,722.13 in the previous year[5] - The net cash flow from operating activities was -40,581,659.77 RMB, compared to -52,590,482.40 RMB in the same quarter last year, showing an improvement[48] - Cash inflow from investment activities totaled 231,791,780.83 RMB, while cash outflow was 28,346,644.00 RMB, resulting in a net cash flow of 203,445,136.83 RMB[49] - The cash flow from investment activities showed a significant recovery, with a net cash flow of 203,445,136.83 RMB compared to a negative cash flow of -73,816,008.95 RMB in the previous year[49] Assets and Liabilities - Total assets increased by 6.52% to CNY 1,192,259,662.30 compared to the end of the previous year[5] - Non-current assets totaled CNY 402,957,729.56, compared to CNY 324,959,236.37, indicating a significant increase of about 24%[34] - Total liabilities reached CNY 186,820,747.06, up from CNY 92,729,036.15, marking an increase of around 101.5%[34] - Current liabilities rose to CNY 88,103,321.07 from CNY 80,568,899.38, reflecting an increase of approximately 18.9%[34] - Total non-current liabilities increased to CNY 98,717,425.99 from CNY 12,160,136.77, reflecting a substantial rise of approximately 711%[34] Shareholder Information - The total number of shareholders at the end of the reporting period was 10,198[10] - The largest shareholder, Zhang Songgen, held 75,664,000 shares, representing 18.08% of the total shares[10] Government Subsidies - The company received government subsidies amounting to CNY 5,627,538.77, which are closely related to its normal business operations[8] - Deferred income increased by 709.77% to ¥33,598,233.33, primarily due to government subsidies received that have not yet met the conditions for recognition[20] Other Financial Metrics - Cash and cash equivalents increased by 47.40% to ¥690,435,358.03 from ¥468,402,017.87[14] - Trade financial assets decreased by 91.38% to ¥21,754,503.29 from ¥252,250,859.45, primarily due to the maturity of bank wealth management products[15] - Other receivables increased by 53.78% to ¥9,451,940.66 from ¥6,146,355.84, mainly due to an increase in rental security deposits[16] - Accounts payable surged by 112.26% to ¥10,002,276.01, reflecting an increase in payable goods and research collaboration fees[17]

Financial Performance - The company reported a total revenue of RMB 100 million for the year 2020, marking a year-on-year increase of 20%[12]. - The company's operating revenue for 2020 was ¥135,909,532.98, a decrease of 40.80% compared to the previous year[19]. - The net loss attributable to shareholders was ¥54,470,877.18, an increase of 75.95% year-on-year[21]. - The net cash flow from operating activities decreased by 380.43% to ¥-57,578,159.36 due to a decline in sales revenue[21]. - The gross profit margin for 2020 was reported at 45%, an improvement from 40% in 2019[12]. - The company achieved a net loss from non-operating income and expenses of ¥3,526,843.10 in 2020, compared to a loss of ¥3,257,904.68 in 2019[29]. - The company reported a significant increase in cash flow from financing activities, amounting to 473,110,165.69 RMB due to successful fundraising on the Sci-Tech Innovation Board[129]. - The company reported a net profit of 0 before achieving profitability, with a commitment to not reduce holdings of pre-IPO shares for 3 full accounting years post-IPO[162]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share within the next three years[12]. - The company aims to achieve a revenue growth rate of 25% in 2021, driven by new product launches and market expansion[12]. - The company is focused on advancing key technology upgrades and expanding the range of applicable indications for its products[91]. - The company is actively expanding its clinical indications for orthopedic surgical robots, with the THA (Total Hip Arthroplasty Robot) in the pre-research stage and the TKA (Total Knee Arthroplasty Robot) entering clinical validation[63]. - The company is considering potential acquisitions to bolster its market position, with a budget of $H million earmarked for this purpose[171]. - The company is exploring strategic acquisitions to bolster its market position and diversify its portfolio[192]. Research and Development - The company has allocated RMB 20 million for research and development in advanced medical technologies for 2021[12]. - Research and development expenses accounted for 54.53% of operating revenue, an increase of 20.98 percentage points from the previous year[20]. - The company has developed a collaborative R&D system with universities and research institutions, focusing on advanced product research and clinical application validation[38]. - The company has invested a total of 9,625.94 million RMB in the development of the Tianji® 2.0 spinal and trauma surgical robot, which has entered the medical device registration phase[139]. - The company plans to increase investment in R&D for orthopedic surgical robots and related consumables, leveraging partnerships with universities and hospitals to foster innovation[151]. Product Development - New product development includes a next-generation surgical robot, expected to launch in Q3 2021, with projected sales of RMB 50 million in the first year[12]. - The company’s core product, the orthopedic surgical robot, has been applied in over 100 medical institutions, completing more than 10,000 surgeries[34]. - The company has developed high-precision online calibration technology for surgical robots, with an error requirement of less than 0.5 mm[47]. - The company has created a technology for automatic synchronization and registration of intraoperative imaging, enhancing the usability of the "Tianji® 2.0" robot[53]. - The company has completed the development of core components for orthopedic surgical robots, enhancing safety and flexibility, and expanding the range of applications[69]. Financial Integrity and Governance - No non-operating fund occupation by controlling shareholders was reported, ensuring financial integrity[6]. - The company has no plans for profit distribution or capital reserve transfer in the current fiscal year[5]. - A standard unqualified audit report was issued by the accounting firm, confirming the accuracy of the financial statements[4]. - The company has established a plan to ensure compliance with commitments made by shareholders and related parties during the reporting period[159]. - The company will disclose the reasons for not proposing a cash profit distribution plan and the intended use of undistributed profits if applicable[159]. Challenges and Risks - The company experienced a significant decline in sales volume of its main product, orthopedic surgical navigation robots, due to the impact of the COVID-19 pandemic[21]. - The company faces risks related to the high technical barriers and long R&D cycles associated with new product development in the orthopedic surgical robot sector[95]. - The ongoing COVID-19 pandemic continues to pose risks to the company’s production and operational activities[106]. - The company is exposed to risks from intensified market competition, particularly from major multinational medical device companies[98]. Shareholder and Management Policies - The cash dividend policy stipulates a minimum of 80% payout for mature companies without major capital expenditures, and 40% if there are significant expenditures[157]. - The actual controller and shareholders committed to not transferring or entrusting the management of their shares for 36 months from the date of the company's stock listing[160]. - The company will adhere to the regulations of the Shanghai Stock Exchange regarding share transfers by major shareholders[160]. - The company has established measures to avoid future competition with other enterprises controlled by its major shareholders[163]. - The company emphasizes compliance with relevant regulations from the Shanghai Stock Exchange regarding share transfers and management[162].

Financial Performance - Operating revenue for the first quarter was CNY 22,523,377.19, representing a 4.14% increase year-on-year[5] - Net profit attributable to shareholders was CNY -24,462,266.30, showing a significant increase in losses compared to CNY -13,468,831.25 in the same period last year[5] - The company reported a net loss of CNY -136,646,152.90, compared to a loss of CNY -117,172,394.60 in the previous period[34] - Net profit loss for the first quarter was RMB 25,042,478.69, widening the loss by RMB 1,106,91 compared to the same period last year[27] - Total operating revenue for Q1 2021 was ¥22,523,377.19, an increase of 4.15% compared to ¥21,628,802.33 in Q1 2020[40] - Net loss for Q1 2021 was ¥25,042,478.69, compared to a net loss of ¥13,973,333.53 in Q1 2020, representing an increase in loss of 79.00%[41] - Comprehensive loss for Q1 2021 totaled ¥31,356,753.58, compared to a comprehensive loss of ¥18,397,477.63 in Q1 2020[42] - Total comprehensive income attributable to shareholders of the parent company was -¥28,250,831.23 in Q1 2021, compared to -¥17,892,975.35 in Q1 2020[42] Research and Development - Research and development expenses accounted for 109.36% of operating revenue, an increase of 43.02 percentage points from the previous year[5] - R&D expenses grew by 71.68% to RMB 24,632,032.55, driven by an increase in R&D personnel[21] - Research and development expenses rose to ¥24,632,032.55 in Q1 2021, a significant increase of 72.00% from ¥14,347,946.75 in Q1 2020[40] Cash Flow - The company reported a net cash flow from operating activities of CNY -10,322,097.52, an improvement from CNY -59,753,722.13 in the previous year[5] - The net cash flow from operating activities increased by RMB 49,431,600, attributed to higher cash receipts from sales and increased government subsidies[28] - The net cash flow from operating activities for Q1 2021 was -40,581,659.77 RMB, compared to -52,590,482.40 RMB in Q1 2020, showing an improvement of approximately 23%[48] - Total cash inflow from investment activities was 231,791,780.83 RMB, while cash outflow was 28,346,644.00 RMB, resulting in a net cash flow of 203,445,136.83 RMB, compared to -73,816,008.95 RMB in the previous year[49] Assets and Liabilities - Total assets increased by 6.52% to CNY 1,192,259,662.30 compared to the end of the previous year[5] - Total liabilities reached CNY 186,820,747.06, up from CNY 92,729,036.15, marking an increase of around 101%[34] - Current liabilities rose to CNY 88,103,321.07 from CNY 80,568,899.38, reflecting an increase of approximately 18.9%[34] - Non-current assets totaled CNY 402,957,729.56, compared to CNY 324,959,236.37, indicating a significant increase of about 24%[33] - Total assets amounted to CNY 1,119,280,166.10, a decrease of CNY 29,905,754.90 compared to the previous period[51] - Current assets totaled CNY 794,320,929.73, reflecting a decrease of CNY 643,337.76 from the prior period[51] - Total non-current assets amounted to approximately $405.61 million, with long-term equity investments at $266.96 million and other equity investments at $82.84 million[56] Shareholder Information - The total number of shareholders at the end of the reporting period was 10,198[10] - The largest shareholder, Zhang Songgen, held 18.08% of the shares, totaling 75,664,000 shares[10] - The company’s total liabilities and equity amounted to CNY 1,192,259,662.30, consistent with total assets, reflecting a balanced financial position[34] Other Financial Metrics - Basic and diluted earnings per share were both CNY -0.06, compared to CNY -0.04 in the previous year[5] - The weighted average return on equity was -2.48%, slightly lower than -2.31% in the same period last year[5] - The company recorded non-recurring gains of CNY 4,728,186.18 during the reporting period[9] - Deferred income surged by 709.77% to RMB 33,598,233.33, mainly due to government grants received that have not yet met the conditions for recognition[20]

Financial Performance - The company reported a total revenue of RMB 100 million for the year 2020, marking a year-on-year increase of 20%[12]. - The company's operating revenue for 2020 was CNY 135,909,532.98, a decrease of 40.80% compared to the previous year[19]. - The net profit attributable to shareholders was a loss of CNY 54,470,877.18, which represents an increase in loss of 75.95% year-on-year[21]. - The net cash flow from operating activities decreased by 380.43% to CNY -57,578,159.36, primarily due to a decline in sales revenue[21]. - The total expenses for the period were CNY 20,920.98 million, a decrease of 19.78% compared to the previous year[21]. - The company achieved operating revenue of CNY 135.91 million, a year-on-year decrease of 40.80%[84]. - The net profit loss was CNY 54.17 million, an increase in loss of 58.53% year-on-year[84]. - The company's main business revenue in the medical device sector was CNY 126.88 million, with a year-on-year decrease of 43.47%[108]. - The orthopedic surgical navigation robot generated sales revenue of CNY 111.59 million, accounting for 87.95% of the main business revenue, with a year-on-year decrease of 47.74%[108]. Research and Development - The company is investing RMB 20 million in R&D for new technologies aimed at enhancing product efficiency[12]. - Research and development expenses accounted for 54.53% of operating revenue, an increase of 20.98 percentage points from the previous year[20]. - The total R&D investment for the year was approximately ¥74.11 million, a decrease of 3.76% compared to the previous year, while the R&D investment as a percentage of operating revenue increased by 20.98 percentage points to 54.53%[66]. - The company has submitted 72 new patent applications during the reporting period, including 30 invention patents, and has obtained 50 new patent authorizations, with 6 being invention patents[62]. - The company has developed high-precision online calibration technology for surgical robots, with an error requirement of less than 0.5 mm[47]. - The company has achieved significant advancements in the development of core components for the orthopedic surgical robot, including the medical robot-specific manipulator and optical tracking camera[63]. - The company has developed a modular design technology for surgical tools, enabling the orthopedic surgical robot to perform over ten different surgical procedures, with ongoing expansion[55]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by 2023[12]. - The company aims to reshape orthopedic surgical processes through intelligent methods, integrating all relevant technological elements into a smart orthopedic platform[33]. - The company is focused on establishing orthopedic surgical robot minimally invasive surgery centers in collaboration with medical institutions[149]. - The company plans to continue promoting its products in the Huazhong and Southwest regions, where revenue has seen some growth due to channel expansion efforts[110]. - The company is exploring partnerships to enhance distribution channels, aiming for a 25% increase in reach by the end of the next fiscal year[159]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from its accounting firm, ensuring the accuracy of its financial statements[5]. - There are no plans for profit distribution or capital increase through reserves for the reporting period[5]. - The company has committed to not transferring or entrusting the management of its pre-IPO shares for 36 months from the date of listing[157]. - The company will adhere to the regulations set forth by the China Securities Regulatory Commission regarding share rights and interests adjustments[157]. - The company has established a commitment to bear any economic liabilities related to employee social insurance contributions prior to its IPO[161]. Customer Engagement and Satisfaction - User data showed a growth of 25% in active users year-over-year, indicating strong customer engagement[159]. - Customer satisfaction ratings improved by 15%, indicating successful implementation of new service strategies[158]. Financial Management and Investments - The company raised a total of 100 million RMB through structured deposits from fundraising sources[184]. - The company has a strategy focused on diversifying its investment portfolio through various financial instruments[186]. - The company is actively managing its financial products to optimize returns and liquidity[185]. - The company has committed to strengthening the management of raised funds to prevent usage risks[163]. Social Responsibility - The company donated 100,000 RMB to support medical institutions in Hubei for purchasing epidemic prevention materials during the COVID-19 outbreak[198]. - The company contributed 200,000 RMB to assist in poverty alleviation efforts in Yushu Prefecture, Qinghai Province[198]. - The company invested 3 million RMB in the "Beijing Natural Science Fund - Haidian Original Innovation Joint Fund" to support key projects in the smart orthopedic field[198].