证券代码：688308 证券简称：欧科亿 公告编号：2022-072 株洲欧科亿数控精密刀具股份有限公司 关于参加湖南辖区上市公司 2022 年投资者网上集体 接待日活动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 为进一步加强与广大投资者的沟通交流，做好投资者关系管理工作，株洲 欧科亿数控精密刀具股份有限公司（以下简称"公司"）将参加由中国证券监督 管理委员会湖南监管局、湖南省上市公司协会与深圳市全景网络有限公司联合 举办的"湖南辖区上市公司 2022 年投资者网上集体接待日"活动，现将有关事项 公告如下： 本次投资者网上接待日活动将通过深圳市全景网络有限公司提供的互联网 平台举行，投资者可以登录"全景网·路演中心"（http://rs.p5w.net）或关注微信 公众号（全景财经）参与本次投资者集体接待日活动，活动时间为：2022 年 9 月 29 日（星期四）15:30 至 16:55。 届时公司董事会秘书等相关人员将通过网络在线问答互动的形式，与投资 者进行沟通和交流。欢迎广大投资者积极参与。 特此公告 ...

Financial Performance - The company reported a total revenue of 500 million CNY for the first half of 2022, representing a year-on-year increase of 15%[14]. - The company's operating revenue for the first half of 2022 was CNY 525,699,317.54, representing a 6.08% increase compared to CNY 495,548,277.10 in the same period last year[19]. - The net profit attributable to shareholders for the same period was CNY 115,005,247.56, up 10.40% from CNY 104,173,434.23 year-on-year[19]. - The net cash flow from operating activities increased significantly by 324.33%, reaching CNY 92,905,180.14 compared to CNY 21,894,650.11 in the previous year[19]. - The gross profit margin improved to 35%, up from 30% in the same period last year, indicating better cost management and pricing strategies[14]. - The gross margin improved to 45%, up from 42% in the previous year, indicating better cost management[123]. - The company achieved a total R&D investment of ¥31,442,712.69, representing a 44.13% increase compared to ¥21,815,992.03 in the previous year[48]. - The company reported a total of CNY 11,017,672.18 in government subsidies recognized during the period, which are closely related to its normal business operations[23]. Market Expansion and Strategy - The company plans to launch two new product lines in Q3 2022, aiming to capture an additional 10% market share in the precision tooling sector[14]. - The company is expanding its market presence in Southeast Asia, with a target of establishing three new distribution centers by the end of 2022[14]. - Future outlook includes a projected revenue growth of 25% for the full year 2022, driven by increased demand in the manufacturing sector[14]. - The company plans to develop 39 series of solid carbide tools, with 17 series already completed and 22 series under development[75]. - The company is considering strategic acquisitions to bolster its market position, with a target of acquiring two smaller firms by the end of the fiscal year[123]. - The company has established approximately 100 tool stores in the domestic market and has expanded its overseas market presence, particularly in Russia, where sales doubled[77]. Research and Development - Research and development expenses increased by 30% to 50 million CNY, focusing on advanced cutting tool technologies[14]. - The R&D expenditure as a percentage of operating revenue rose to 5.98%, an increase of 1.58 percentage points from 4.40% in the previous year[20]. - The company holds a total of 102 valid domestic patents, including 15 invention patents, 61 utility model patents, and 26 design patents[45]. - The company has filed a total of 140 patent applications, including 32 invention patents, indicating a strong commitment to innovation[46]. - The company is actively developing new products, including high-performance milling cutters and tools for composite materials, with total expected investments of ¥1,450,000 for each project[52]. Product Development and Innovation - The company specializes in the R&D, production, and sales of CNC cutting tools and hard alloy products, which are widely used in various metal processing applications[26]. - The company has developed a comprehensive range of CNC tools, with a focus on blades for stainless steel and steel processing, recognized as a "user satisfaction brand" in a cutting tool survey[27]. - The company is enhancing the performance of CNC blades to meet increasing efficiency demands in the automated and intelligent machining sector[40]. - The company is developing advanced milling tools for turbine blade machining, with a project budget of $1.4 million and a current expenditure of approximately $267,948[54]. - A new series of adjustable rough boring tools is being developed, with a budget of $1.4 million and current spending of around $126,865, targeting a diameter range of Ф25-Ф450[54]. Environmental Commitment - The company has invested a certain amount annually in environmental protection facilities and equipment maintenance, ensuring compliance with discharge requirements[107]. - The company emphasizes environmental protection and sustainable development, integrating these efforts into its core operations and achieving compliance with total pollutant discharge control requirements[114]. - The company has implemented measures to reduce carbon emissions by optimizing processes and promoting energy conservation, contributing to national carbon neutrality goals[115]. - The company is not classified as a high-risk, heavily polluting industry, indicating a lower environmental impact[107]. Shareholder and Corporate Governance - The company held two shareholder meetings during the reporting period, with all resolutions passed without any rejections[99]. - The company’s future three-year shareholder dividend return plan was approved, indicating a commitment to shareholder returns[97]. - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing[119]. - The company guarantees that its public offering and listing on the Shanghai Stock Exchange does not involve any fraudulent issuance[126]. - The company will ensure compliance with all obligations and responsibilities disclosed in its IPO prospectus[126]. Risks and Challenges - The company has identified potential risks related to supply chain disruptions and is implementing measures to mitigate these risks[14]. - The company faces risks from intensified market competition and potential management inefficiencies due to rapid expansion[80][81]. - The company faced risks to its operations due to COVID-19, particularly affecting customer orders and payment timelines, which could impact future performance[83].

Financial Performance - The company's revenue for Q1 2022 was CNY 261,896,824.78, representing a year-on-year increase of 16.39%[2] - Net profit attributable to shareholders was CNY 56,588,953.49, up 22.68% compared to the same period last year[2] - Total operating revenue for Q1 2022 was CNY 261,896,824.78, an increase of 16.4% compared to CNY 225,014,603.24 in Q1 2021[13] - Net profit for Q1 2022 reached CNY 56,588,953.49, up 22.7% from CNY 46,125,575.46 in Q1 2021[14] - Basic and diluted earnings per share for Q1 2022 were CNY 0.57, compared to CNY 0.46 in Q1 2021, reflecting a growth of 23.9%[15] Research and Development - R&D investment totaled CNY 14,127,745.27, marking a significant increase of 62.63% year-on-year[2] - The proportion of R&D investment to revenue was 5.39%, an increase of 1.53 percentage points from the previous year[3] - Research and development expenses increased significantly to CNY 14,127,745.27, a rise of 62.4% from CNY 8,686,980.42 in the previous year[13] Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,991,400,089.36, a 3.02% increase from the end of the previous year[3] - The company's total equity reached CNY 1,551,375,520.87, an increase from CNY 1,494,482,043.59 in Q1 2021[13] - Total liabilities as of Q1 2022 amounted to CNY 440,024,568.49, slightly up from CNY 438,478,296.26 in the previous year[12] - The company's non-current assets totaled RMB 857,569,332.01, up from RMB 796,194,482.56, showing a growth of about 7.7%[11] Cash Flow - The net cash flow from operating activities was negative at CNY -4,575,429.99, indicating a decrease in cash inflow[2] - Cash flow from operating activities for Q1 2022 was CNY 134,842,444.23, an increase of 28.5% from CNY 104,969,227.35 in Q1 2021[17] - The net cash flow from investment activities was $8,384,231.51, a significant recovery from -$40,407,197.55 in the previous year[18] - Cash inflow from financing activities amounted to $40,000,000.00, with a net cash flow of $38,636,472.22 after outflows[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 3,577[6] Inventory and Receivables - Accounts receivable increased significantly to RMB 236,623,900.25 from RMB 132,733,172.43, representing an increase of about 78.3%[10] - Inventory levels rose to RMB 292,518,725.25 compared to RMB 272,129,634.94, indicating an increase of approximately 7.9%[11] Borrowings and Current Liabilities - The company's short-term borrowings surged to RMB 45,022,319.45 from RMB 5,005,555.56, marking a substantial increase of around 800%[11] - The total current liabilities increased, with accounts payable at RMB 97,194,245.28, slightly down from RMB 102,107,630.86[11] Other Information - The company has no significant new product launches or technological developments mentioned in the report[9] - There are no plans for market expansion or mergers and acquisitions indicated in the current report[9]

2022 年第一季度报告 证券代码：688308 证券简称：欧科亿 株洲欧科亿数控精密刀具股份有限公司 2022 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务报表 信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 | | | 单位：元 币种：人民币 | | | --- | --- | --- | --- | | 项目 | 本报告期 | 本报告期比上年同期 | | | | | 增减变动幅度(%) | | | 营业收入 | 261,896,824.78 | | 16.39 | | 归属于上市公司股东的净利润 | 56,588,953.49 | | 22.68 | | 归属于上市公司股东的扣除非经 | 5 ...

Financial Performance - The company's operating revenue for 2021 was CNY 990,388,668.41, representing a 41.04% increase compared to CNY 702,209,076.78 in 2020[22]. - The net profit attributable to shareholders for 2021 was CNY 222,222,319.07, a significant increase of 106.82% from CNY 107,448,625.38 in 2020[22]. - The basic earnings per share for 2021 was CNY 2.22, reflecting a 55.24% increase from CNY 1.43 in 2020[23]. - The company's total assets at the end of 2021 were CNY 1,932,960,339.85, up 19.19% from CNY 1,621,708,390.81 at the end of 2020[22]. - The net cash flow from operating activities for 2021 was CNY 159,532,716.57, an increase of 26.97% compared to CNY 125,646,440.49 in 2020[22]. - The company reported a net profit margin of 22.44% in 2021, an increase of 7.14% compared to the previous year[33]. - The revenue from CNC tools reached CNY 455.20 million in 2021, a year-on-year growth of 50.14%, with sales volume increasing by 43.11%[33]. - The revenue from hard alloy products was ¥532,270,827.13, with a gross margin of 24.53%, an increase of 1.77 percentage points[85]. - The company reported a significant increase in revenue, reaching $1.2 billion, representing a 15% year-over-year growth[131]. Research and Development - Research and development expenses accounted for 4.95% of operating revenue in 2021, up from 4.72% in 2020[23]. - The company increased its R&D investment by 47.88% in 2021, launching 35 new projects and adding nearly 2,000 new CNC blade products[34]. - The company achieved a significant increase in R&D investment, totaling ¥48,980,257.38, which represents a 47.88% growth compared to the previous year[56]. - The company has a diverse R&D team, including 1 PhD, 1 Master's degree holder, and 53 Bachelor's degree holders, with a total of 166 personnel[67]. - The company is focusing on optimizing coating technologies to enhance cutting performance and tool longevity, catering to customer needs[53]. - The company is developing multiple projects, including a grooving tool with an expected total investment of ¥1,800,000, which has already seen cumulative investments of ¥4,177,355.53[59]. - The company has developed a comprehensive technology system for hard alloy manufacturing and tool production, enhancing its competitive edge in the market[69]. Corporate Governance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not violated any decision-making procedures for providing guarantees[7]. - The company has not proposed any stock bonus or capital reserve conversion plan[5]. - The company has established a fair and scientific compensation and performance evaluation system to protect employee rights and promote mutual growth[152]. - The company has a structured decision-making process for profit distribution, requiring independent directors' opinions and monitoring by the supervisory board[157]. - The company has established a sound corporate governance structure, ensuring effective checks and balances among the board of directors, supervisory board, and management[187]. Market Strategy and Expansion - The company is focusing on enhancing cutting efficiency and high-temperature performance of CNC blades to meet increasing demands from the mechanical processing industry[50]. - The company aims to achieve industry-leading levels in various product categories, including high-performance cutting tools for aerospace and automotive applications[61]. - The company plans to deepen its domestic market presence and accelerate overseas market expansion, including opening overseas tool stores and promoting its own brand[117]. - The company is transitioning from a simple tool supplier to a key partner in providing comprehensive cutting solutions for user enterprises[51]. - The company is dedicated to achieving "import substitution" and moving towards "export substitution" in its market strategy[116]. Social Responsibility and Environmental Impact - The company has been recognized with multiple honors for its contributions to social responsibility and community support, including tax contributions exceeding 40 million RMB[169]. - The company has created over 800 jobs and provided employment opportunities for over 10 disabled individuals, contributing to local economic development[169]. - The company is committed to building a green factory and promoting energy-saving practices through digital and automated production systems[168]. - The company has implemented a waste management system to classify and store solid waste, promoting recycling and reducing environmental impact[177]. - The company has adopted energy-saving measures, including centralized control of air conditioning and lighting to reduce electricity consumption and carbon emissions[179]. Risks and Challenges - The company faces risks from intense competition in the CNC tool manufacturing sector, particularly from imported brands that dominate the market[74]. - Rapid expansion may lead to management inefficiencies and increased operational costs if the company does not enhance its management capabilities[75]. - The company faced risks related to raw material price fluctuations, particularly tungsten carbide, which constitutes approximately 86% of raw materials[76]. - The company is exposed to macroeconomic risks that could impact the demand for its products in various industries[80]. Employee and Management Structure - The company has 603 employees in the parent company as of the end of the reporting period[150]. - The total number of employees in the company is 866, with 568 in production, 74 in sales, 160 in technology, and 64 in management[151]. - The company has increased its R&D personnel from 94 to 160, representing a growth rate of 70.21%, with R&D personnel now accounting for 18.48% of the total workforce[68]. - The company continues to focus on retaining key talent through competitive remuneration packages[139]. Financial Management - The company has a robust financial management system, with no instances of overdue bank loans, ensuring the protection of creditor rights[187]. - The company reported a total remuneration of RMB 452.01 million for all directors, supervisors, and senior management personnel during the reporting period[139]. - The total remuneration for core technical personnel at the end of the reporting period was RMB 259.25 million[140].

Financial Performance - The company's revenue for Q3 2021 reached ¥263,280,477.48, representing a 40.68% increase compared to the same period last year[2] - Net profit attributable to shareholders was ¥65,921,340.31, a significant increase of 121.69% year-over-year[2] - The net profit after deducting non-recurring gains and losses was ¥56,861,002.21, up 92.87% from the previous year[2] - Basic earnings per share (EPS) was ¥0.66, reflecting a 65.00% increase year-over-year[2] - Total operating revenue for the first three quarters of 2021 reached ¥758,828,754.58, a significant increase of 53.2% compared to ¥495,380,462.31 in the same period of 2020[16] - Net profit for the first three quarters of 2021 was ¥170,094,774.54, compared to ¥77,663,661.05 in the previous year, representing a growth of 118.5%[17] - The total comprehensive income for the third quarter of 2021 was CNY 170,094,774.54, compared to CNY 77,663,661.05 in the same period of 2020, representing an increase of 118.5%[18] - Basic and diluted earnings per share for the third quarter of 2021 were CNY 1.70, up from CNY 1.04 in the same quarter of 2020, reflecting a growth of 63.5%[18] Assets and Liabilities - The company's total assets increased by 14.36% to ¥1,854,606,391.12 compared to the end of the previous year[3] - The total assets of the company as of the end of Q3 2021 were ¥1,854,606,391.12, an increase from ¥1,621,708,390.81 at the end of Q3 2020, marking a growth of 14.4%[14] - Current assets totaled ¥1,207,458,948.04, up from ¥1,133,221,001.63, indicating an increase of 6.5% year-over-year[13] - Non-current assets increased to ¥647,147,443.08 from ¥488,487,389.18, reflecting a growth of 32.5%[13] - Total liabilities rose to ¥408,940,931.85, compared to ¥314,442,430.39, which is an increase of 30.1%[14] - The company's equity attributable to shareholders reached ¥1,445,665,459.27, up from ¥1,307,265,960.42, indicating a growth of 10.6%[14] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥67,561,112.89, showing a slight decrease of 3.14%[2] - Cash inflows from operating activities for the first three quarters of 2021 amounted to CNY 422,188,620.01, compared to CNY 288,286,041.23 in the same period of 2020, indicating a rise of 46.4%[21] - The net cash flow from operating activities for the first three quarters of 2021 was CNY 67,561,112.89, slightly down from CNY 69,750,871.27 in the previous year, a decrease of 3.1%[21] - Cash outflows from investment activities totaled CNY 579,155,636.35 in the first three quarters of 2021, significantly higher than CNY 57,490,374.79 in the same period of 2020, marking an increase of 906.5%[21] - The net cash flow from investment activities was negative CNY 446,129,645.14 for the first three quarters of 2021, compared to negative CNY 45,808,648.71 in the same period of 2020[21] - Cash and cash equivalents at the end of the third quarter of 2021 were CNY 218,999,726.25, a decrease from CNY 134,132,492.13 at the end of the same period in 2020[22] - The company received CNY 130,000,000.00 from investment recoveries in the first three quarters of 2021, a significant increase from CNY 10,000,000.00 in the same period of 2020[21] - The company reported cash inflows from financing activities of CNY 60,000,000.00 in the first three quarters of 2021, compared to CNY 10,000,000.00 in the same period of 2020, reflecting a growth of 500%[22] - The net cash flow from financing activities was negative CNY 48,405,661.68 for the first three quarters of 2021, slightly worse than negative CNY 48,257,923.34 in the same period of 2020[22] Research and Development - Research and development (R&D) expenses totaled ¥11,888,967.23, a 38.93% increase from the same period last year[3] - Research and development expenses for the first three quarters were ¥33,704,959.26, compared to ¥23,824,397.70 in the previous year, showing a year-over-year increase of 41.5%[16] - The R&D expenditure as a percentage of revenue decreased by 4.52 percentage points to 4.44%[3] Shareholder Information - Total number of common shareholders at the end of the reporting period is 3,757[8] - The largest shareholder, Yuan Meihe, holds 18,060,000 shares, representing 18.06% of total shares[8] - The top ten shareholders collectively hold a significant portion of the company's shares, indicating concentrated ownership[9] - The company has no preferred shares with voting rights restored[8] - The company has not reported any financing or margin trading activities among its top shareholders[10] Operational Insights - The company reported a significant increase in cash flow from operating activities, contributing to improved liquidity and financial stability[15] - There are no significant changes in the company's operational strategies or new product developments mentioned in the reports[11] - Total operating costs amounted to ¥578,530,476.27, up from ¥401,930,796.75, reflecting a year-over-year increase of 43.9%[16]

Financial Performance - The company reported a total revenue of 1.2 billion RMB for the first half of 2021, representing a year-on-year increase of 15%[1]. - The company's operating revenue for the first half of 2021 reached ¥495,548,277.10, representing a 60.77% increase compared to ¥308,229,425.89 in the same period last year[23]. - Net profit attributable to shareholders was ¥104,173,434.23, a significant increase of 117.35% from ¥47,928,270.97 in the previous year[23]. - Basic earnings per share rose to ¥1.04, up 62.50% from ¥0.64 in the same period last year[23]. - The total profit for the first half of 2021 was CNY 121,519,444.70, compared to CNY 54,786,885.04 in the first half of 2020, marking an increase of 121.0%[184]. - The company reported a net profit of ¥109,359,032.90 for the first half of 2021, compared to ¥57,779,556.46 in the same period of 2020, reflecting an increase of 89.5%[180]. Market Expansion and Strategy - The company plans to launch two new product lines in Q3 2021, aiming to capture an additional 10% market share in the precision tooling sector[1]. - The company is expanding its market presence in Southeast Asia, with plans to establish a new distribution center in Thailand by the end of 2021[1]. - The company has established a wholly-owned subsidiary, Zhuzhou Oke Yi Cutting Tools Co., Ltd., with a registered capital of ¥100 million to develop a CNC tool industrial park[90]. - The company expanded its market presence across over 30 countries in Europe, America, and Asia, enhancing its influence in the overseas market for CNC cutting tools[72]. Research and Development - Research and development expenses increased by 30% to 150 million RMB, focusing on advanced cutting tool technologies[1]. - The company achieved a total R&D investment of ¥21,815,992.03, representing a 42.90% increase compared to the previous period's ¥15,267,072.29[50]. - The total number of authorized patents reached 85, including 12 invention patents, 49 utility model patents, and 24 design patents[49]. - The company is focusing on advanced materials technology research, including metal ceramics and superhard materials, to expand its product line[48]. Product Development and Innovation - The company has developed industrial-grade saw blades for cutting engineered wood, addressing technical challenges in the production of ultra-fine, nano-grade hard alloys[32]. - The company has developed a series of CNC blades for P (steel) and M (stainless steel) machining, recognized for their durability and cutting performance[42]. - The company is focusing on enhancing cutting efficiency and high-temperature performance in its CNC blades to meet increasing demands[44]. - New product development has accelerated, including the introduction of new grades for milling tools and the OC series for heavy-duty cutting applications[69]. Financial Management and Investments - The company has temporarily supplemented working capital with idle raised funds without affecting the implementation of investment projects[147]. - The total amount of raised funds is RMB 599,750,000, with RMB 82,418,210.50 invested in the current year, representing 10.52% of the total commitment for the high-end CNC blade manufacturing base project[146]. - The company has not changed the use of raised funds, with no funds being redirected[146]. - The company’s financial management strategy includes investing in high-safety, liquid financial products[147]. Risk Management - The company has identified potential risks related to supply chain disruptions and is implementing measures to mitigate these risks[1]. - The company is facing risks related to core competitiveness, particularly from domestic and international competition in the CNC tool manufacturing sector[74]. - The company emphasizes the importance of retaining R&D personnel to prevent potential technology leaks that could adversely affect future operations[76]. Environmental Responsibility - The company has implemented effective environmental protection measures, ensuring compliance with pollution discharge standards[105]. - The company has received multiple environmental impact assessments and permits for new projects, including a high-end cutting tool manufacturing base with an annual capacity of 4 million pieces[107]. - The company has established emergency response plans for environmental incidents, which have been filed with local environmental authorities[108]. Shareholder Commitments and Governance - The company has implemented a stock lock-up arrangement for its major shareholders, restricting share transfers for 36 months post-IPO[114]. - The company commits to comply with all relevant laws and regulations regarding shareholding and share reduction[119]. - The company has established a clear framework for managing share transfers and reductions to maintain market stability and investor confidence[124]. - The company will compensate investors for any losses incurred due to non-fulfillment of commitments, with compensation amounts determined by regulatory authorities or through negotiation[135].

Financial Performance - Operating revenue rose by 80.24% to CNY 225,014,603.24 year-on-year[5] - Net profit attributable to shareholders increased by 177.64% to CNY 46,125,575.46 compared to the same period last year[5] - Basic earnings per share increased by 109.09% to CNY 0.46 per share[5] - Operating profit for Q1 2021 was ¥53,591,028.01, up 182.2% from ¥18,928,182.23 in Q1 2020[21] - Net profit for Q1 2021 was ¥46,125,575.46, representing a 177.5% increase from ¥16,613,444.26 in Q1 2020[23] - Total operating revenue for Q1 2021 reached ¥225,014,603.24, a significant increase of 80.0% compared to ¥124,843,200.22 in Q1 2020[21] Cash Flow - The net cash flow from operating activities decreased by 129.00% to -CNY 37,114,160.96 compared to the previous year[5] - The net cash flow from operating activities was negative at -¥37,114,160.96, a 129.00% increase in cash outflow compared to -¥16,207,269.22 in the same period last year, primarily due to increased cash payments for raw material purchases[13] - The net cash flow from operating activities was -$41.99 million in Q1 2021, worsening from -$10.41 million in Q1 2020[30] Assets and Liabilities - Total assets increased by 3.27% to CNY 1,674,795,413.98 compared to the end of the previous year[5] - Total liabilities amounted to CNY 320,888,848.67, up from CNY 314,442,430.39, which is an increase of about 2.0%[17] - Current assets totaled CNY 1,155,683,622.50, slightly up from CNY 1,133,221,001.63, indicating a growth of about 2.0%[15] - Total liabilities as of the end of Q1 2021 amounted to ¥300,956,653.31, an increase from ¥263,071,096.49 at the end of Q1 2020[21] Shareholder Information - The total number of shareholders reached 4,399 at the end of the reporting period[10] - The top shareholder, Yuan Meihe, holds 18,060,000 shares, accounting for 18.06% of the total shares[10] Research and Development - R&D investment as a percentage of operating income decreased by 1.01 percentage points to 3.86%[5] - Research and development expenses rose by 42.98% to ¥8,686,980.42, indicating a focus on enhancing R&D projects[13] - Research and development expenses for Q1 2021 were ¥8,686,980.42, up 43.2% from ¥6,075,713.00 in Q1 2020[21] Other Income and Expenses - Non-recurring gains and losses totaled CNY 7,387,985.85 for the reporting period[8] - The company reported a significant increase in other income, which rose to ¥5,498,681.45, a 1,140.35% increase from ¥443,316.65, mainly due to increased government subsidies received[13] - The company incurred a financial expense of RMB -1,360,547.36, compared to a financial expense of RMB 598,145.92 in Q1 2020[25] Inventory and Receivables - Accounts receivable increased by 50.04% to ¥183,363,975.51 from ¥122,208,223.01, attributed to expanded sales scale and increased revenue[12] - Inventory increased to CNY 216,493,680.03 from CNY 181,352,115.90, reflecting a growth of approximately 19.4%[15] - The company reported a significant increase in other receivables, rising to CNY 670,028.38 from CNY 383,598.28, a growth of approximately 74.8%[15]

Financial Performance - The company's operating revenue for 2020 was CNY 702,209,076.78, representing a 16.45% increase compared to CNY 602,987,666.10 in 2019[24]. - The net profit attributable to shareholders for 2020 was CNY 107,448,625.38, which is a 21.50% increase from CNY 88,437,756.04 in 2019[24]. - The net cash flow from operating activities decreased by 15.71% to CNY 125,646,440.49 in 2020, down from CNY 149,062,879.21 in 2019[24]. - The total assets of the company increased by 60.97% to CNY 1,621,708,390.81 at the end of 2020, compared to CNY 1,007,440,243.76 at the end of 2019[24]. - The net assets attributable to shareholders rose by 92.76% to CNY 1,307,265,960.42 at the end of 2020, up from CNY 678,170,076.01 at the end of 2019[24]. - The basic earnings per share for 2020 was CNY 1.43, reflecting a 21.19% increase from CNY 1.18 in 2019[25]. - The weighted average return on equity for 2020 was 14.83%, an increase of 0.95 percentage points from 13.88% in 2019[25]. - The company reported a total profit of 4,455,423.94 RMB for the year, an increase from 3,164,316.93 RMB in the previous year, representing a growth of approximately 41%[32]. - The company reported a total revenue of approximately 38.48 million RMB, with a net profit of around 25.52 million RMB for the year 2020[67]. Dividend Policy - The company plans to distribute a cash dividend of RMB 3.3 per 10 shares, totaling approximately RMB 33 million, which represents 30.71% of the net profit attributable to shareholders for 2020[7]. - The company does not plan to issue bonus shares or convert capital reserves into share capital[7]. - The total share capital as of March 24, 2021, is 100 million shares, which will be used as the basis for dividend distribution[7]. - The company has established a cash dividend policy, committing to distribute at least 10% of its distributable profits in cash annually, subject to certain conditions[132]. - The cash dividends distributed in 2020 amounted to RMB 33,000,000, while in 2019, it was RMB 12,750,000, and in 2018, it was RMB 9,000,000[138]. - The decision-making process for profit distribution involves the board of directors and requires approval from more than half of the independent directors[135]. Corporate Governance - The company has received a standard unqualified audit report from Zhongtian Accounting Firm[6]. - The board of directors has confirmed that all members attended the board meeting, ensuring the integrity of the annual report[6]. - The company has confirmed that there are no violations in decision-making procedures for external guarantees[9]. - The company has not disclosed any special arrangements for corporate governance[9]. - The independent directors have reviewed and approved the profit distribution proposal, ensuring transparency and compliance with regulations[137]. - The company has established a governance structure to protect shareholder and creditor rights, ensuring accurate and complete information disclosure[177]. Research and Development - The total R&D investment for the year was approximately ¥33.12 million, representing a 7.88% increase from the previous year, while the proportion of R&D investment to operating income decreased from 5.09% to 4.72%[59]. - The company holds a total of 84 authorized patents, including 11 invention patents and 49 utility model patents, reflecting its commitment to innovation[57]. - The company is developing a high-performance wood processing tool, targeting the growing demand for customized furniture, with a market potential for high-end woodworking tools[14]. - The company has established partnerships with universities to enhance its R&D capabilities, focusing on cutting-edge technology and product development strategies[73]. - The company is working on a set of coating performance characterization research to improve the evaluation of coating materials and their performance during service[16]. - The company aims to strengthen marketing channels by maintaining existing customer relationships and expanding sales networks for CNC tools, enhancing overall service capabilities[122]. Market Position and Strategy - The company plans to continue expanding its market presence and investing in new technologies to enhance its product offerings[26]. - The company has established stable partnerships with major raw material suppliers to ensure the quality of its products[43]. - The company has a strong market position in the domestic saw blade production, being the largest manufacturer in this sector[50]. - The company aims to expand its market share by improving its product structure in the woodworking sector, responding to the increasing demand for high-end tools[14]. - The company will focus on internal talent development and external recruitment to build a skilled workforce capable of driving innovation and operational excellence[126]. - The company will implement strict quality management and cost control measures to ensure product quality and operational efficiency[128]. Financial Management - The company’s financing activities resulted in a net cash inflow of 450,665,086.57 CNY, a significant increase of 828.58% compared to the previous year[92]. - The company’s investment activities generated a net cash outflow of 86,641,544.71 CNY, which is a 5.38% increase in outflow compared to the previous year[92]. - The company has approved the use of up to RMB 350 million of temporarily idle raised funds for cash management, ensuring high safety and liquidity in investments[175]. - The company has maintained a clear and compliant dividend distribution policy, ensuring the protection of minority shareholders' rights[137]. - The company has committed to maintaining a balance between short-term interests and long-term development in its profit distribution strategy[135]. Compliance and Legal Matters - The company has committed to repurchase all newly issued shares within five working days if it is confirmed that it does not meet the listing conditions due to deceptive means[156]. - The company guarantees that the public offering of shares on the Shanghai Stock Exchange's Sci-Tech Innovation Board does not involve any fraudulent issuance[156]. - The company has undertaken legal responsibilities for any losses incurred by investors due to false statements or omissions in its IPO documents[157]. - The company will publicly disclose any non-compliance in designated publications[162]. - The company will take necessary measures to ensure that all obligations are met to protect shareholder interests[163]. Operational Highlights - The company has developed a comprehensive quality assurance system covering the entire product lifecycle, maintaining industry-leading stability and precision[76]. - The company focuses on continuous R&D innovation, particularly in advanced materials like metal ceramics and superhard materials[81]. - The company has a rich product series with thousands of specifications, making it the largest manufacturer of saw blades in China[75]. - The company has successfully optimized the geometric structure of blades to enhance their lifespan and stability, meeting user requirements for surface finish quality[55]. - The company has a comprehensive technical team with expertise across multiple disciplines, ensuring a strong foundation for ongoing innovation in tool manufacturing[73].