安信证券股份有限公司 关于江苏中信博新能源科技股份有限公司 首次公开发行限售股上市流通的核查意见 安信证券股份有限公司（以下简称"安信证券"或"保荐机构"）作为江苏中 信博新能源科技股份有限公司（以下简称"中信博"或"公司"）首次公开发行股 票并在科创板上市的保荐机构，根据《证券发行上市保荐业务管理办法》《上海 证券交易所科创板股票上市规则》《科创板上市公司持续监管办法（试行）》等有 关规范性文件的要求，对中信博首次公开发行限售股上市流通的事项进行了核查， 核查情况如下： 一、本次上市流通的限售股类型 经中国证券监督管理委员会2020年7月28日出具的《关于同意江苏中信博新能 源科技股份有限公司首次公开发行股票注册的批复》（证监许可[2020]1583号）， 同意江苏中信博新能源科技股份有限公司首次向社会公众发行人民币普通股 33,928,870股。公司股票于2020年8月28日在上海证券交易所上市交易。首次公开 发行股票完成后，公司总股本为135,715,480股，其中有流通限制或限售安排的股 票数量为105,449,904股，无流通限制及限售安排的股票数量为30,265,576股。 本次申请上市流通的限售 ...

证券代码：688408 证券简称：中信博 公告编号： 2023-020 江苏中信博新能源科技股份有限公司 关于召开 2022 年度暨 2023 年第一季度业绩说明会的公告 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、准确性和完整性承担责任。 重要内容提示： 投资者可于 2023 年 05 月 25 日(星期四) 至 05 月 31 日(星期三)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 investor.list@arctechsolar.com 进行提问。公司将在说明会上对投资者普遍 关注的问题进行回答。 江苏中信博新能源科技股份有限公司（以下简称"公司"）已于 2023 年 4 月 28 日发布公司 2022 年度报告及 2023 年第一季度报告，为便于广大投资者更 全面深入地了解公司 2022 年度及 2023 年第一季度经营成果、财务状况，公司计 划于 2023 年 06 月 01 日 上午 11:00-12:00 举行 2022 年度暨 2023 年第一季度 业绩说明会，就投资者关心的问题进行交流。 一、 说明 ...

Expansion and Market Presence - The company has established branches or service centers in regions including India, the USA, Spain, Mexico, Vietnam, Australia, UAE, Argentina, Brazil, and Chile, expanding its overseas supply chain system[1] - The company continues to expand its global marketing network and brand advantages to sustain growth in both domestic and international markets[1] - The company aims to leverage its domestic advantages to deepen its market presence in China while expanding into potential markets in India, Latin America, and the Middle East, continuously increasing its market share[107] - The company plans to expand its market presence in Europe and North America, targeting a 20% increase in market share by 2025[189] - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of the fiscal year[103] Financial Performance - The company's revenue increased due to a recovery in the photovoltaic market, with the fourth quarter showing a significant rise in installation demand as component prices stabilized[5] - The company reported a significant increase in revenue, achieving a total of RMB 5.2 billion, representing a year-over-year growth of 35%[189] - The company achieved a net profit attributable to shareholders of RMB 44,430,897.66 in 2022, with a cumulative undistributed profit of RMB 542,682,596.82[159] - The net profit attributable to shareholders was CNY 44.43 million, representing a significant increase of 195.57% from CNY 15.03 million in the previous year[193] - The company reported a total of 1.5 billion yuan, representing a year-over-year growth of 25%[103] Research and Development - The company has increased R&D expenses to promote technological innovations such as multi-point tracking technology and smart tracking systems[5] - Research and development expenses increased by 5.95% to approximately 127.39 million RMB, driven by advancements in multi-point drive tracking technology and BIPV product innovation[34] - The company is committed to continuous R&D investment in tracking supports and related products, introducing technologies such as multi-point parallel drive and intelligent tracking[68] - The company has invested RMB 300 million in R&D for advanced tracking systems, aiming to enhance energy output by 15%[189] - The company has established a strong talent team for product innovation and system solutions, aligning with its strategic goals[84] Supply Chain and Production - The company has faced ongoing supply chain price fluctuations, particularly in silicon material, which have impacted the growth of centralized ground power station installations[3] - The company has optimized its bank borrowings, affecting the cash flow from financing activities[5] - The production capacity utilization rate for photovoltaic brackets reached 99.32%, with a total investment of 10,300 million RMB in the ongoing production line[53] - The company plans to enhance its supply chain efficiency, aiming for a 15% reduction in operational costs by the end of the year[103] - The company plans to expand production capacity, optimize production processes, and enhance technological research and innovation capabilities[65] Customer and Market Strategy - The company aims to enhance customer value through continuous innovation in the BIPV field and related areas such as carbon steel frames and energy storage[84] - Customer satisfaction ratings have improved, with a reported 90% satisfaction rate in recent surveys[103] - The company is exploring partnerships with international firms to expand its product offerings and enhance competitive advantage[103] - The company is focusing on the development of the BIPV (Building Integrated Photovoltaics) business, achieving rapid growth during the reporting period[84] - The company will continue to deepen its domestic market while expanding its international market presence[66] Assets and Investments - The company reported a total of 167,140,045.71 CNY in restricted assets, including cash and receivables, due to various guarantees and pledges[21] - The total assets of the company include 915.88 million RMB in contract assets, which represents 36.65% of total assets, up from 26.24% in the previous period[37] - The company’s fixed assets increased by 105.30% to approximately 874.69 million RMB, indicating significant investment in long-term assets[37] - The company has ongoing projects with a total investment of 10,090 million RMB, expected to be completed within 8 months[55] - The investment amount for the reporting period was 48,430,000 RMB, a decrease of 63.03% compared to 131,000,000 RMB in the same period last year[59] Governance and Management - The company has established various committees, including the Audit Committee and the Strategic Committee, to enhance governance[130] - The company held a total of six board meetings in 2022, with all members participating in key discussions[129] - The company has a three-year dividend return plan for shareholders from 2022 to 2024[126] - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 5.51 million RMB[139] - The company has proposed a shareholder dividend return plan for the next three years (2022-2024), which was discussed in the strategic committee meeting[134] Future Outlook - The company plans to enhance its global delivery capabilities and competitiveness by advancing global capacity, market, supply chain, and service center strategies[108] - The company is exploring potential acquisitions in the renewable energy sector to bolster its product offerings and market position[189] - The company aims to achieve carbon neutrality in its operations by 2030, aligning with global sustainability goals[189] - The company plans to issue A-shares to specific investors in 2022, with a focus on technology innovation[126] - The company has proposed to use idle raised funds for cash management, which was approved unanimously in the board meeting on August 30, 2022[132]

Financial Performance - Operating revenue for the first quarter was ¥815,476,038.51, reflecting a growth of 41.55% year-on-year[18] - Net profit attributable to shareholders of the listed company was ¥38,772,088.06, with no comparative data provided[18] - The net profit attributable to shareholders for Q1 2023 was CNY 38,772,088.06, compared to a net loss of CNY 8,932,317.18 in Q1 2022, indicating a turnaround in profitability[33] - The total comprehensive income for Q1 2023 was CNY 40,290,775.44, compared to a loss of CNY 7,962,547.34 in the same period last year, reflecting a positive shift in overall financial performance[33] - Net profit for Q1 2023 was ¥40,396,981.26, compared to a net loss of ¥8,034,408.43 in Q1 2022, indicating a turnaround in profitability[49] Assets and Liabilities - Total assets at the end of the reporting period reached ¥5,628,620,238.48, an increase of 0.65% compared to the end of the previous year[4] - The total assets of the company reached ¥5,628,620,238.48, up from ¥5,592,358,909.47 in the previous year, reflecting overall growth[47] - Total liabilities amounted to ¥3,085,618,686.29, slightly down from ¥3,093,047,886.70 in the previous year[47] - The total current assets as of March 31, 2023, were CNY 4,377,578,830.26, slightly up from CNY 4,320,687,171.85 at the end of 2022, indicating a growth of approximately 1.3%[28] - Long-term borrowings increased by 39.25%, primarily due to an increase in bank long-term loans[6] Cash Flow - The company reported a net cash flow from operating activities of -¥25,579,028.65[18] - The company's cash flow from operating activities for Q1 2023 was CNY 1,148,635,170.69, a significant increase from CNY 504,636,027.47 in Q1 2022, representing a growth of approximately 127.6%[37] - The company's cash and cash equivalents at the end of Q1 2023 stood at CNY 1,419,321,021.65, down from CNY 1,451,272,464.63 at the beginning of the quarter, showing a decrease of approximately 2.2%[38] - The cash flow from investing activities for Q1 2023 was negative at CNY -55,188,368.29, compared to a positive cash flow of CNY 98,008,232.56 in Q1 2022, indicating a shift in investment strategy[38] - The total cash outflow from financing activities in Q1 2023 was CNY 34,420,884.63, compared to CNY 51,293,663.59 in Q1 2022, reflecting a decrease of approximately 32.8%[38] Expenses - Research and development expenses totaled ¥26,589,192.41, accounting for 3.26% of operating revenue, a decrease of 0.45 percentage points[18] - The company’s management expenses increased to 39.8 million RMB, attributed to rising labor costs and depreciation related to management departments[40] - The company reported a financial expense of ¥1,100,436.69 in Q1 2023, a significant increase from a financial income of ¥-198,985.55 in Q1 2022[49] - The company reported a decrease in investment income by 86.6 million RMB, primarily due to a reduction in the purchase of financial products compared to the same period last year[40] Shareholder Information - The number of total shareholders and the situation of the top ten shareholders were disclosed, with significant holdings from various investment funds[10] - Shareholders' equity attributable to the parent company increased to ¥2,537,197,287.57 from ¥2,495,432,229.31, showing a growth of 1.7%[47] Government Support - The company received government subsidies amounting to ¥1,605,443.09, closely related to its normal business operations[20] - Other income rose to 73.8 million RMB, mainly due to government subsidies received during the reporting period[40] Market and Strategy - The total number of orders on hand as of the reporting period is approximately 2.8 billion RMB, including 1.2 billion RMB for fixed brackets, 1.2 billion RMB for tracking brackets, and 400 million RMB for BIPV[43] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[48]

江苏中信博新能源科技股份有限公司 投资者关系活动记录表 证券简称：中信博 证券代码：688408 编号：2022-002 | --- | --- | |------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - The company's operating revenue for Q3 2022 was approximately ¥2.26 billion, representing a year-over-year increase of 22.29%[5] - The net profit attributable to shareholders of the listed company was approximately -¥12.55 million, a decrease of 167.36% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately -¥22.80 million, with a year-over-year decrease of 295.93%[5] - The company reported a net loss attributable to shareholders of 123.99 million yuan, reflecting the impact of increased costs and expenses[22] - The net profit for the current period is -11,390,868.22 CNY, compared to a net profit of 52,331,432.53 CNY in the same period last year, indicating a significant decline[46] - The company reported a total comprehensive income of -10,559,333.30 CNY, compared to 52,430,433.13 CNY in the same period last year[46] - Basic and diluted earnings per share are both -0.09 CNY, down from 0.39 CNY in the previous year[49] - The operating profit for the current period is -23,818,634.61 CNY, a decrease from 51,325,954.25 CNY in the previous year[46] Cash Flow - Cash flow from operating activities was approximately -¥738.51 million, indicating a significant cash outflow[5] - The net cash flow from operating activities was -345.57 million yuan, mainly due to inventory buildup to maintain production capacity and reduce average steel costs[22] - The cash inflow from operating activities totals 2,116,289,900.68 CNY, compared to 2,049,834,230.77 CNY in the previous year[49] - Net cash flow from operating activities was -$738.51 million, compared to -$165.74 million in the previous period, indicating a significant decline[52] - The company reported a significant increase in cash outflows for operating activities, totaling $2.85 billion, compared to $2.22 billion previously[52] Research and Development - The total R&D investment for the quarter was approximately ¥40.22 million, accounting for 4.89% of operating revenue, a decrease of 0.73 percentage points year-over-year[9] - Research and development expenses for the current period are 90,558,327.32 CNY, slightly down from 90,979,537.58 CNY in the previous year[46] Assets and Liabilities - The company's total assets at the end of the reporting period were approximately ¥4.90 billion, a decrease of 5.15% compared to the end of the previous year[9] - The company's accounts receivable increased by 75.00% year-to-date, primarily due to the growth in operating revenue[16] - The company experienced a significant increase in credit impairment losses of 145.23 million yuan, driven by higher accounts receivable due to increased revenue[22] - Total assets decreased to RMB 4,897,319,261.03 as of September 30, 2022, from RMB 5,163,200,726.16 at the end of 2021, a decline of about 5.1%[38] - Total liabilities as of September 30, 2022, were RMB 2,448,704,817.37, down from RMB 2,720,481,494.02 at the end of 2021, indicating a reduction of approximately 10%[40] Revenue Growth - The company's revenue increased by 31.58% compared to the same period last year, primarily due to growth in fixed bracket and BIPV sales[22] - Total operating revenue for the first three quarters of 2022 reached RMB 2,258,798,459.24, an increase from RMB 1,716,647,760.04 in the same period of 2021, representing a growth of approximately 31.5%[42] - Total operating costs for the first three quarters of 2022 were RMB 2,247,542,252.93, compared to RMB 1,714,795,042.23 in 2021, indicating an increase of about 31%[42] Market Strategy - The company plans to continue expanding its market presence and investing in new technologies to enhance competitiveness[22] - The company is focusing on expanding its market presence and developing new technologies, although detailed strategies were not specified in the provided content[42]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 25%[1] - The company's revenue for the first half of 2022 was approximately CNY 1.44 billion, representing a 37.56% increase compared to the same period last year[23] - The company has set a revenue guidance of RMB 2.5 billion for the full year 2022, reflecting a growth target of 20%[1] - The company achieved a revenue of 1.436 billion RMB in the reporting period, representing a year-on-year growth of 37.56%[90] - The company reported a total revenue of 24,136.15 million, with a profit of 1,422.80 million for the first half of 2022[122] Profitability and Margins - The gross profit margin improved to 30%, up from 28% in the same period last year[1] - The net profit attributable to shareholders was a loss of CNY 1.19 million, a decrease of 103.36% from the previous year's profit of CNY 35.46 million[23] - The comprehensive gross margin for the main business was 11.70%, a decrease of 3.67 percentage points year-on-year, with a second-quarter gross margin of 13.97%, up 5.66 percentage points from the first quarter[90][94] - The decline in net profit was primarily due to increased steel costs, which affected gross margins despite significant sales growth[25] Cash Flow and Assets - The net cash flow from operating activities was negative CNY 690.96 million, a significant decline of 1,484.03% compared to the previous year's positive cash flow[23] - The total assets decreased by 8.52% to approximately CNY 4.72 billion compared to the end of the previous year[23] - The company's fixed assets increased by 55.38% to 662,003,220.00 RMB, primarily due to the addition of machinery and buildings at the production base[1] - Contract assets rose by 38.43% to 887,177,698.85 RMB, attributed to an increase in operating revenue during the period[1] Research and Development - Research and development expenses increased by 10% to RMB 150 million, focusing on innovative solar technologies[1] - The research and development expenditure accounted for 3.50% of the revenue, down from 5.09% in the previous year[24] - The R&D team has decreased from 194 to 141 personnel, with the proportion of R&D staff in the total workforce dropping from 18.85% to 12.20%[78] - The company has filed for 5 invention patents and 1 utility model patent related to the enhanced rafter structure design, which improves mechanical performance while significantly reducing material usage[49] Market Expansion and Strategy - User data indicates a growth in active users to 500,000, a 40% increase compared to the previous year[1] - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by the end of 2023[1] - The company has established subsidiaries in Hong Kong, Japan, the USA, India, Chile, and Saudi Arabia, and has set up service centers in several other countries[41] - The company is actively expanding its overseas supply chain and has established a joint venture factory in India, which is currently in trial operation[98] Product Development and Innovation - New product launches include a solar tracking system expected to increase efficiency by 20%[1] - The company launched the new "Tian Shuang" tracking system, which is the world's first 1P multi-point parallel drive tracking system, capable of operating safely at wind speeds of up to 22 m/s[48] - The company has developed a single-axis tracker design that extends effective tracking time to 10-15 hours, increasing daily energy output by approximately 2%[49] - The company launched the BIPV Smart Roof series, which replaces traditional roofing materials and meets various design requirements while enhancing energy generation per unit area[63] Risks and Challenges - The company has identified potential risks related to supply chain disruptions and is implementing strategies to mitigate these risks[1] - The company faced challenges in cash collection due to the pandemic, impacting cash flow and necessitating inventory buildup for future growth[25] - The company is facing risks related to high raw material prices, particularly steel, which could impact profit margins[100] Compliance and Governance - The board confirmed that there are no non-operational fund usages by controlling shareholders[1] - The company has not faced any administrative penalties related to environmental issues during the reporting period[131] - There are no non-operating fund occupations by controlling shareholders or other related parties during the reporting period[179] - The company has committed to not occupying the funds of the company and its subsidiaries during operational transactions[182] Shareholder and Management Commitments - The company has committed to a stable dividend distribution policy, prioritizing cash dividends over stock dividends, with a minimum cash dividend ratio of 40% for mature stages with significant capital expenditure[148] - The company will ensure that any gains from selling shares within six months of purchase will be returned to the company[145] - The company has established measures to ensure that any losses caused by non-fulfillment of commitments will be compensated, including the suspension of salary and restrictions on share transfers until obligations are met[175] - The actual controllers of the company have pledged not to engage in any business that directly competes with the company's existing major products, both domestically and internationally[175]

Financial Performance - The company's operating revenue for 2021 was ¥2,415,358,785.16, a decrease of 22.80% compared to ¥3,128,604,673.41 in 2020[22]. - The net profit attributable to shareholders of the listed company was ¥15,032,252.95, down 94.73% from ¥285,491,339.46 in the previous year[22]. - The net cash flow from operating activities was ¥123,495,122.32, a decline of 69.72% compared to ¥407,843,044.05 in 2020[22]. - The total assets at the end of 2021 were ¥5,163,200,726.16, an increase of 10.71% from ¥4,663,594,460.98 at the end of 2020[22]. - The basic earnings per share for 2021 was ¥0.11, a decrease of 95.63% from ¥2.52 in 2020[23]. - The company reported a net loss attributable to shareholders after deducting non-recurring gains and losses of ¥36,701,967.60 in 2021[22]. - The total equity attributable to shareholders of the listed company decreased by 1.69% to ¥2,440,278,940.73 at the end of 2021[22]. - The overall gross margin for the reporting period was 11.74%, a decline of 9.08 percentage points compared to the previous year, while the net profit margin was 0.65%, down 8.48 percentage points[31]. Dividend and Profitability - The company plans to distribute a cash dividend of RMB 0.3 per 10 shares, totaling RMB 4,071,464.40, which accounts for 27.08% of the net profit attributable to shareholders in the consolidated financial statements for the year 2021[6]. - The company has not yet achieved profitability since its listing[4]. - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[5]. Operational Risks and Governance - The company has detailed various operational risks and corresponding countermeasures in the report[4]. - The company does not have any non-operating fund occupation by controlling shareholders or related parties[8]. - There are no violations of decision-making procedures regarding external guarantees[9]. - The company does not have any special arrangements for corporate governance[7]. - The report includes forward-looking statements regarding future plans and strategies, which do not constitute a commitment to investors[7]. - The company has a comprehensive risk statement applicable to forward-looking statements[7]. Research and Development - The R&D expenditure as a percentage of operating revenue increased to 4.98% in 2021 from 3.61% in 2020, reflecting a growth of 1.37 percentage points[23]. - Research and development expenses amounted to 120.24 million CNY, an increase of 6.57% year-on-year, representing 4.98% of total revenue[34]. - The company has filed multiple patents related to BIPV systems and has collaborated with Tongji University to develop BIPV technical standards[45]. - The company has introduced innovative products such as the "Sky II" tracking system, which significantly improves stability and has been well received in the market[36]. - The company has developed a wind tunnel laboratory, becoming the first photovoltaic enterprise globally to possess such a facility, enhancing product safety and reliability[66]. Market Expansion and Strategy - The company is focused on expanding its market presence and enhancing its technology capabilities through R&D investments[21]. - The company plans to continue expanding its market presence and investing in new technologies to enhance competitiveness in the renewable energy sector[29]. - The company is actively pursuing market expansion strategies, targeting over 40 countries for its photovoltaic bracket business[155]. - The company is advancing its local production projects in India, Brazil, and Saudi Arabia to mitigate tariff impacts and meet local demands[110]. - The company aims to enhance its core competitiveness in the bracket business and BIPV (Building Integrated Photovoltaics) sector, despite challenges in the photovoltaic industry due to rising upstream polysilicon prices[167]. Supply Chain and Cost Management - The company experienced a decrease in gross margin due to rising prices of polysilicon, components, and international shipping costs, which affected overall revenue and net profit[25]. - The average price of steel used in procurement increased by 32.78% year-on-year, contributing to a significant rise in costs despite a 22.80% drop in revenue[33]. - The company employs a mixed procurement model, combining order-based and material preparation procurement to minimize inventory costs while managing steel price volatility[48]. - The company has seen a 52.72% reduction in outsourced galvanizing costs, reflecting improved cost management strategies[121]. Corporate Governance and Management - The company emphasizes transparency and timely information disclosure, adhering to legal requirements to ensure all investors have equal access to information[179]. - The company has established a monitoring mechanism through its supervisory board to oversee financial and operational compliance, safeguarding the interests of shareholders[177]. - The company has a diverse management team with members holding various indirect stakes through employee stock ownership platforms, including Wang Cheng at 0.1443%[188]. - The company’s management structure includes a significant number of independent directors, enhancing governance[191]. Innovation and Technology - The company has developed an AI-based photovoltaic tracking control technology that can improve power generation performance by up to 7%[74]. - The company has introduced AI algorithms and AI trackers to enhance power generation efficiency, reflecting its commitment to technological advancement[67]. - The company has completed the hardware and software development of cleaning robots for photovoltaic components, addressing issues related to dust and heat spots that affect power generation[88]. - The company has launched the BIPV Smart Roof series, which integrates photovoltaic components, enhancing load-bearing capacity and waterproofing while meeting various construction requirements[78]. Challenges and Risks - The company faces risks from high raw material and logistics costs, which have significantly increased and may compress profit margins[106]. - The pandemic has caused delays in project construction and increased logistics costs, adversely affecting sales revenue recognition[111]. - International trade protection policies have negatively impacted the company's overseas sales, particularly in the U.S. market[110]. Shareholding and Executive Compensation - The total shares held by the company decreased from 53,302,283 to 52,580,385, a reduction of 721,898 shares, representing a decrease of approximately 1.35%[185]. - The total pre-tax compensation for the executives amounted to 888.9 million CNY during the reporting period[185]. - The remuneration scheme for directors and supervisors is proposed by the Compensation and Assessment Committee and approved by the board[193].

Financial Performance - The company's operating revenue for 2021 was ¥2,415,358,785.16, a decrease of 22.80% compared to ¥3,128,604,673.41 in 2020[33]. - The net profit attributable to shareholders for 2021 was ¥15,032,252.95, down 94.73% from ¥285,491,339.46 in 2020[33]. - The net cash flow from operating activities was ¥123,495,122.32, a decline of 69.72% compared to ¥407,843,044.05 in 2020[33]. - The company's net assets attributable to shareholders decreased by 1.69% to ¥2,440,278,940.73 at the end of 2021[33]. - The basic earnings per share for 2021 was ¥0.11, a decrease of 95.63% from ¥2.52 in 2020[33]. - The overall gross margin for the reporting period was 11.74%, down 9.08 percentage points year-on-year[46]. - The net profit margin for the reporting period was 0.65%, down 8.48 percentage points year-on-year[46]. - The company's revenue decreased by 22.80% in 2021, while operating costs fell by only 13.94%, primarily due to a significant increase in steel prices, which rose by 32.78% year-on-year[48]. - The company reported a revenue decline of 22.80% year-on-year, primarily due to a 4.26% decrease in sales from photovoltaic brackets, which accounted for 93.94% of total sales revenue[86]. - The company achieved a total revenue of approximately 151.35 million, with a net profit of around 114.27 million, reflecting a significant performance in the market[132]. Research and Development - The R&D investment as a percentage of operating revenue increased to 4.98% in 2021 from 3.61% in 2020, an increase of 1.37 percentage points[33]. - Research and development expenses increased by 6.57% to ¥120,243,519.02, focusing on technological innovations in tracking systems and BIPV products[165]. - The company holds a total of 143 invention patents, with 31 patents granted, and 62 utility model patents, with 244 granted[120]. - The company has filed for 42 invention patents during the reporting period, with 11 newly granted[120]. - The company has developed a new BIPV smart roof solution that meets building load requirements and enhances energy generation capacity[119]. - The company has developed a multifunctional integrated testing system for photovoltaic tracking systems, ensuring long-term reliability testing[109]. - The company has developed a pneumatic elastic model testing method for photovoltaic support structures, achieving wind load testing under various wind speeds, enhancing system stability and structural strength verification[111]. - The company has authorized 5 invention patents and is applying for 13 related to artificial intelligence tracking control technology[109]. - The company has integrated low-power technology in its photovoltaic stations, enabling comprehensive monitoring and remote diagnostics[117]. - The company has developed a portable device for analyzing wireless signal strength in photovoltaic tracking projects, enhancing operational efficiency[117]. Market and Industry Trends - The global trend towards renewable energy has gained momentum, with 177 countries considering net-zero targets as of November 2021[82]. - The newly installed capacity of centralized photovoltaic power stations in China decreased by approximately 22% year-on-year, totaling 25.6 GW in 2021 compared to 32.68 GW in 2020[46]. - The penetration rate of tracking brackets in the global market is expected to increase, with the U.S. market nearing 90% penetration, indicating significant replacement potential for traditional fixed brackets[87]. - The company is focusing on the BIPV market, which has substantial growth potential due to national policies promoting distributed photovoltaic development[88]. - From 2022 to 2025, the average annual new photovoltaic installations in China are expected to reach 83-99 GW, with 2022 projected to see new installations between 75 GW and 90 GW[91]. - The global photovoltaic industry is expected to see an average annual new installation of 232-286 GW from 2022 to 2025, with 2022 alone projected to achieve 181 GW[93]. Operational Challenges - The increase in prices of polysilicon and international logistics costs led to a significant decline in revenue and gross profit[46]. - The company experienced delays in project construction due to supply chain imbalances and rising material costs[46]. - The ongoing pandemic has caused delays in project construction and increased logistics costs, adversely affecting sales revenue recognition[164]. - The company faces risks from high raw material and logistics costs, with steel prices and international shipping fees significantly increasing during the reporting period[155]. - The company is exposed to risks from intensified competition in the fixed bracket sector due to a reduction in market capacity and increased competition among suppliers[159]. Corporate Governance - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[12]. - The company has received a standard unqualified audit report from Lixin Accounting Firm[9]. - The board of directors has fully attended the board meeting, ensuring the integrity of the annual report[9]. - The company does not have any special arrangements for corporate governance[14]. - The company has not violated decision-making procedures for external guarantees[14]. - The company has not faced any issues with more than half of the directors being unable to guarantee the authenticity of the annual report[14]. Strategic Initiatives - The company aims to expand its market presence and explore potential mergers and acquisitions to enhance growth[33]. - The company is expanding its global footprint, with a new production base in India expected to be operational in 2022, which will increase total design capacity to 12.2GW[57]. - The company is investing in a new galvanizing production line with an annual capacity of 300,000 tons, expected to be operational in Q2 2022, aimed at reducing galvanizing costs for bracket products[58]. - The company is actively implementing cost-reduction measures, including optimizing product design and developing in-house production capabilities for key components[59]. - The company has established subsidiaries in key markets such as Hong Kong, Japan, the USA, India, Brazil, Chile, and Saudi Arabia, and has set up service centers in several other regions[61].

Financial Performance - The company's operating revenue for Q1 2022 was RMB 576,110,613.47, representing a year-on-year increase of 78.78%[5] - The net profit attributable to shareholders was a loss of RMB 8,932,317.18, a decline of 160.24% compared to the same period last year[5] - Total revenue for Q1 2022 reached ¥576,110,613.47, a significant increase from ¥322,245,561.56 in Q1 2021, representing an increase of approximately 78.8%[31] - The net profit for Q1 2022 was a loss of ¥8,034,408.43, compared to a profit of ¥14,829,324.53 in Q1 2021, reflecting a decline in profitability[34] - The total comprehensive income amounted to -7,962,547.34 CNY, down from 14,824,931.79 CNY year-over-year[37] - The basic and diluted earnings per share were both -0.07 CNY, compared to 0.11 CNY in the previous year[37] Cash Flow - The net cash flow from operating activities was a negative RMB 450,006,703.98, reflecting a decrease of 320.13% year-on-year[5] - Cash inflows from operating activities totaled 504,636,027.47 CNY, a decrease from 628,066,647.90 CNY year-over-year[40] - Cash outflows from operating activities were 954,642,731.45 CNY, significantly higher than 423,637,567.21 CNY in the same period last year[40] - The net cash flow from operating activities was -450,006,703.98 CNY, compared to a positive flow of 204,429,080.69 CNY in the previous year[40] - The net cash flow from financing activities decreased by 69.27%, primarily due to timely repayment of maturing debts[13] - The net cash flow from investing activities was 98,008,232.56 CNY, a recovery from -880,296,937.30 CNY year-over-year[42] - The net cash flow from financing activities was 30,861,560.38 CNY, compared to 100,433,439.40 CNY in the same period last year[42] - The ending balance of cash and cash equivalents was 927,390,113.54 CNY, down from 1,313,586,147.16 CNY year-over-year[42] Assets and Liabilities - Total assets at the end of the reporting period were RMB 4,836,116,182.55, down 6.33% from the end of the previous year[7] - Total current assets amounted to CNY 3.76 billion, a decrease from CNY 4.13 billion at the end of 2021, representing a decline of about 9%[26] - Cash and cash equivalents were reported at CNY 933.75 million, down from CNY 1.26 billion year-over-year, indicating a decrease of approximately 26%[26] - Accounts receivable increased to CNY 439.44 million from CNY 255.23 million, reflecting a growth of around 72%[26] - Inventory levels rose to CNY 792.34 million, compared to CNY 721.28 million, marking an increase of about 10%[26] - Total liabilities decreased to ¥2,399,627,123.58 from ¥2,720,481,494.02, showing a reduction of approximately 11.8%[31] - The total amount of financial assets decreased from CNY 772.93 million to CNY 604.05 million, a decline of about 22%[26] Expenses - Research and development expenses totaled RMB 21,378,500.02, accounting for 3.71% of operating revenue, a decrease of 3.38 percentage points from the previous year[5] - The company reported a significant increase in sales expenses by 36.55%, primarily due to higher personnel costs and market development expenses[13] - The company experienced a 100.05% increase in operating costs, attributed to revenue growth and higher steel prices compared to the same period last year[13] - Research and development expenses for Q1 2022 were ¥21,378,500.02, slightly down from ¥22,842,572.27 in Q1 2021[34] Shareholder Information - The equity attributable to shareholders was RMB 2,433,151,075.80, a slight decrease of 0.29% compared to the previous year-end[7] - The total equity attributable to shareholders was ¥2,433,151,075.80, down from ¥2,440,278,940.73, indicating a slight decrease of about 0.3%[31] - The company holds a total of 19.4 million shares in various investment funds, with the largest shareholder owning 37.50% of the total shares[21] Future Outlook - The company has a backlog of orders with expected revenue of approximately CNY 1.94 billion[22] - The company has ongoing projects with approvals for centralized ground power station projects, indicating a positive outlook for future revenue generation[22] - The company is actively involved in the development of new products and technologies to enhance market expansion and competitiveness[22]