Financial Performance - The company's operating revenue for the first half of 2021 was RMB 131,478,096.87, a decrease of 14.92% compared to RMB 154,533,617.24 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was RMB 10,494,085.73, down 64.12% from RMB 29,247,438.95 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 4,792,276.02, a decline of 83.49% compared to RMB 29,034,194.67 in the same period last year[19]. - The net cash flow from operating activities was negative RMB 29,668,740.52, compared to negative RMB 2,608,119.71 in the previous year, representing a decrease of 1,037.55%[19]. - The company's basic earnings per share decreased by 73.09% to CNY 0.0406 compared to the same period last year[20]. - Operating revenue decreased by 14.92%, primarily due to a 27.37% decline in international business and delays in domestic aviation engine deliveries[20]. - The weighted average return on net assets decreased by 5.85 percentage points to 1.11%[20]. - The net cash flow from operating activities dropped by 1,037.55% due to increased procurement payments and reduced cash recovery from sales[20]. Research and Development - R&D investment accounted for 18.31% of operating revenue, an increase of 7.94 percentage points compared to the previous year[20]. - The company focuses on independent research and development, with key projects involving synchronous design for critical components in collaboration with major engine design institutions[33]. - The company has applied for a total of 101 patents, including 46 invention patents, and has authorized 64 patents, with 13 being invention patents[56]. - Research and development expenses increased by 50.20% from the previous period, totaling approximately ¥24.07 million, which represents 18.31% of total revenue[60]. - The company has developed advanced core technologies, including precision forging near-net-shape technology and adaptive polishing technology for complex surfaces[50]. Market Position and Strategy - The aviation engine industry is experiencing significant growth, with China projected to become the largest civil aircraft market in the next 20 years, creating opportunities for domestic manufacturers[38]. - The orthopedic implant market in China is growing rapidly, with significant potential for domestic manufacturers to replace imported brands, particularly in spine and joint segments[43]. - The company is positioned to benefit from the increasing international outsourcing market for aviation engine components due to its recognized product quality and high production efficiency[41]. - The company is focusing on strategic customers and high-end markets to maintain its position in the domestic market while advancing its international strategy[83]. - The company is actively expanding its product range and enhancing its technological capabilities to support the development of advanced aerospace components[66]. Production and Operations - The company has established a direct sales model, focusing on core strategic customers and requiring quality certifications to supply products[28]. - The production model is based on a make-to-order approach, ensuring strict adherence to quality standards and customer requirements[31]. - The company has implemented a digital factory construction to enhance production efficiency and product quality, achieving automated rapid mold change based on accumulated production data[32]. - The company has established three business segments: compressor blades, rotating parts, and medical orthopedics, supported by a complete engineering and industrialization platform[36]. - The company emphasizes quality management, implementing a solid quality management system and regular training to enhance quality awareness among employees[37]. Financial Position and Investments - The total assets at the end of the reporting period were RMB 1,262,093,477.29, reflecting a growth of 4.24% from RMB 1,210,801,572.29 at the end of the previous year[19]. - The net assets attributable to shareholders at the end of the reporting period were RMB 950,312,031.55, an increase of 1.12% from RMB 939,817,945.82 at the end of the previous year[19]. - The company has invested a total of 8,480 million RMB in various projects, with 1,522 million RMB invested in the current period and a cumulative investment of 3,086 million RMB[66]. - The company has made a new equity investment of ¥105 million during the reporting period[99]. - The company has established Guizhou Hangya Technology Co., Ltd. with a total investment of RMB 300 million, where the company invested RMB 210 million and has completed an initial investment of RMB 105 million[142]. Corporate Governance and Compliance - The company appointed Huang Qin as the new Chief Financial Officer and Wei Zhe as the new Secretary of the Board, following the resignation of the previous CFO due to health reasons and the Secretary's reassignment[111]. - The company has committed to maintaining a lock-up period for major shareholders and core technical personnel for 36 months post-IPO, with additional restrictions on share sales for 2 years thereafter[121]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[118]. - The company has made commitments regarding the reduction of related party transactions, as per the announcements on the Shanghai Stock Exchange[123]. - The company has no significant litigation or arbitration matters during the reporting period[138].

Financial Performance - The company reported a total revenue of RMB 100 million for the first half of 2021, representing a year-on-year increase of 20%[19]. - The net profit for the first half of 2021 was RMB 15 million, which is a 25% increase compared to the same period last year[19]. - The company's operating revenue for the first half of 2021 was approximately ¥131.48 million, a decrease of 14.92% compared to the same period last year[20]. - The net profit attributable to shareholders decreased by 64.12% to approximately ¥10.49 million, while the net profit after deducting non-recurring gains and losses fell by 83.49% to approximately ¥4.79 million[20]. - Basic earnings per share dropped by 73.09% to ¥0.0406, and diluted earnings per share also decreased by the same percentage[21]. - The total profit for the first half of 2021 was RMB 10,846,940.00, down from RMB 32,461,686.38 in the same period last year[171]. - The company achieved operating revenue of 131.48 million yuan, a decrease of 14.92% year-on-year[80]. - Operating profit was 9.91 million yuan, down 69.89% compared to the same period last year[80]. - The company reported a net cash flow from financing activities of CNY 50.93 million, an increase of 176.78% due to increased borrowings[95]. Research and Development - The company has allocated RMB 10 million for research and development in the upcoming fiscal year, focusing on innovative technologies[19]. - The company's R&D investment as a percentage of operating revenue increased by 7.94 percentage points to 18.31%[21]. - R&D expenses increased significantly by 50.20% from the previous period, totaling approximately ¥24.07 million, which represents 18.31% of the operating revenue[61]. - The company has applied for a total of 101 patents, including 46 invention patents, and has authorized 64 patents, with 13 being invention patents as of June 30, 2021[57]. - The company has developed key technologies such as adaptive polishing for blade edges and reverse design for complex molds, enhancing production efficiency and product quality[52]. Market Strategy and Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by the end of 2022[19]. - Future guidance estimates a revenue growth of 25% for the full year 2021, projecting total revenue to reach RMB 400 million[19]. - The company is focusing on strategic customers and high-end markets to maintain its position in the domestic market while advancing its international strategy[84]. - The company is actively pursuing new product development initiatives to drive future growth[123]. Operational Efficiency - The company has improved production efficiency by implementing a digital factory and utilizing production data for continuous process improvement, particularly in the production of compressor blades and orthopedic implants[33]. - The company is actively improving operational efficiency, particularly in reducing process costs and shortening production cycles[84]. - The company has established a digital manufacturing system that integrates automation and quality control, enhancing production efficiency and earning recognition as a "demonstration smart workshop" in Jiangsu Province[74]. Risk Management - Risk factors include potential supply chain disruptions, which the company is actively monitoring and managing[19]. - The company is addressing risks related to technology development, talent retention, and quality control, which are critical for maintaining competitive advantage in the aerospace and medical sectors[86][87][88]. - The company is focusing on enhancing its risk management strategies to safeguard against market volatility and economic uncertainties[186]. Environmental and Social Responsibility - The company has implemented a zero discharge policy for wastewater, treating it through an internal facility before reuse in production[118]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[118]. - The company has confirmed that it does not fall under the category of heavily polluting enterprises and has implemented effective waste management practices[118]. Shareholder and Governance - The company has a commitment from its major shareholders and management to maintain shareholding stability for a period of 36 months post-IPO[121]. - The company did not propose any profit distribution or capital reserve fund transfer for the first half of 2021, with no dividends or stock bonuses planned[115]. - The company has made long-term commitments regarding profit distribution policies, as disclosed on the Shanghai Stock Exchange[123]. - The company has made specific commitments regarding the reduction of shares held by directors and senior management, adhering to the Shanghai Stock Exchange rules[135]. Industry Trends - The aviation engine industry is experiencing significant growth, with emerging markets driving demand for air travel, particularly in China, which is projected to become the largest civil aircraft market in the next 20 years[39]. - The orthopedic implant market in China is experiencing rapid growth, with a significant opportunity for domestic brands to increase their market share, particularly in spinal and joint implants where the localization rate remains low[44].

Financial Performance - The company reported no profit distribution for the fiscal year 2020, considering its ongoing development phase and significant capital needs[6]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion CNY for the fiscal year, representing a 15% year-over-year growth[13]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion CNY[15]. - The company's operating revenue for 2020 was CNY 301,120,950.84, representing a year-on-year increase of 16.89% compared to CNY 257,604,361.92 in 2019[23]. - The net profit attributable to shareholders for 2020 was CNY 59,896,575.83, which is a 41.98% increase from CNY 42,185,477.50 in 2019[23]. - The basic earnings per share for 2020 was CNY 0.3091, up 41.98% from CNY 0.2177 in 2019[25]. - The total assets at the end of 2020 were CNY 1,210,801,572.29, a 92.87% increase from CNY 627,776,943.55 at the end of 2019[24]. - The net assets attributable to shareholders increased by 131.71% to CNY 939,817,945.82 in 2020 from CNY 405,609,223.03 in 2019[24]. - The cash flow from operating activities for 2020 was CNY 52,604,695.15, a decrease of 8.51% compared to CNY 57,494,852.88 in 2019[23]. - The company achieved an annual revenue of 301.12 million yuan, representing a year-on-year growth of 16.89%[85]. - Operating profit reached 68.23 million yuan, an increase of 50.33% compared to the previous year[85]. - Net profit attributable to shareholders was 59.90 million yuan, up by 41.98% year-on-year[85]. Research and Development - The company is investing in R&D, allocating 100 million CNY for the development of innovative materials and processes[20]. - Research and development expenses accounted for 10.26% of operating revenue in 2020, down from 11.93% in 2019[25]. - The company applied for a total of 29 patents during the reporting period, including 19 invention patents, and received 27 patents, with 7 being invention patents[62]. - Total R&D expenditure for the year was approximately ¥30.89 million, representing a 0.52% increase from the previous year[64]. - The company has achieved NADCAP certification for its special processes, indicating compliance with international aerospace quality standards[61]. - The company has developed several core technologies, including adaptive polishing technology for blade edges, which significantly improves production yield and reduces overall manufacturing costs[58]. - The company has completed the development of key technologies for titanium alloy hip joints, with results expected to be applied in various customer projects[6]. Market Expansion and Strategy - The company is expanding its market presence, targeting an increase in international sales by 30% in the upcoming year[17]. - A strategic acquisition of a smaller competitor is anticipated to be finalized by Q2 2021, expected to add 200 million CNY in annual revenue[18]. - The company plans to enhance its digital transformation efforts, focusing on ERP and MES systems to streamline operations and improve efficiency[22]. - The company is focusing on expanding its domestic business in aerospace engines, benefiting from strong demand in the domestic aviation manufacturing sector[89]. - The company is actively developing new products in the orthopedic field, including tibial trays and bone plates, to enhance market share amid increasing competition[89]. - The company is considering strategic acquisitions to bolster its technology portfolio, with a budget of 100 million allocated for potential deals[142]. Corporate Governance and Compliance - The company does not have any special arrangements for corporate governance[9]. - The company has established a robust corporate governance structure to protect the rights of shareholders and creditors, ensuring compliance with relevant laws and regulations[177]. - The company has committed to improving compliance management across financial, legal, and environmental health and safety aspects[134]. - The management team confirmed that no shares will be transferred or managed by others during the lock-up period of 36 months post-IPO[145]. - The company will adhere to regulations regarding share reduction plans after the lock-up period expires, ensuring compliance with the China Securities Regulatory Commission[146]. Operational Efficiency - The implementation of advanced manufacturing technologies is projected to reduce production costs by 15%[19]. - The company is enhancing production efficiency and product quality through the construction of a digital factory and continuous process improvement based on accumulated production data[37][38]. - The company has established a comprehensive supply chain management system, ensuring a wide selection of qualified suppliers for raw materials[36]. - The company has a strong emphasis on continuous technological innovation and process optimization to meet the high standards of the aerospace and medical industries[38]. Social Responsibility - The company donated RMB 300,000 to support COVID-19 prevention efforts in the local community[173]. - The company has actively participated in local poverty alleviation activities in Wuxi City[173]. - The company aims to continue its long-term commitment to poverty alleviation as part of its corporate social responsibility initiatives[176]. Shareholder Information - The company successfully listed on the Sci-Tech Innovation Board on December 16, 2020, raising funds to support future development[85]. - The total number of ordinary shares before the recent changes was 193,782,608, with an increase of 14,333,271 shares, bringing the total to 208,115,879 shares[184]. - The company completed its initial public offering (IPO) of 64.6 million shares, increasing the total share capital from 193,782,608 to 258,382,608 shares[186]. - The IPO price was set at 8.7 RMB per share, raising a total of approximately 564.42 million RMB[191]. - The company has a total of 10 major shareholders, with the top three holding a combined 30.65% of shares[195].

Financial Performance - Operating revenue decreased by 12.87% to CNY 58,512,400.79 year-on-year[5] - Net profit attributable to shareholders decreased by 77.11% to CNY 2,659,376.27 compared to the same period last year[5] - Basic earnings per share dropped by 82.83% to CNY 0.0103 compared to the previous year[5] - The company's operating revenue for Q1 2021 was CNY 58,512,400.79, a decrease of 12.87% compared to CNY 67,156,897.26 in the same period last year[11] - The net profit attributable to shareholders of the parent company was CNY 2,659,376.27, down 77.11% from CNY 11,619,475.10 in the previous year[12] - Net profit for Q1 2021 was ¥2,564,275.38, down 77.8% from ¥11,536,040.10 in Q1 2020[23] - Total profit for Q1 2021 was ¥3,083,924.60, a decrease of 76.3% from ¥13,022,444.91 in Q1 2020[23] Cash Flow - The net cash flow from operating activities was negative at CNY -29,756,181.28, a decline of 79.20% year-on-year[5] - Cash flow from operating activities showed a net outflow of CNY 29,756,181.28, a decline of 79.20% compared to CNY -16,604,856.35 in the same period last year[12] - The net cash flow from operating activities for Q1 2021 was -29,756,181.28 RMB, compared to -16,604,856.35 RMB in Q1 2020, indicating a decline of approximately 79.5% year-over-year[28] - The net cash flow from investing activities was -43,492,833.50 RMB in Q1 2021, compared to -18,014,579.72 RMB in Q1 2020, reflecting a decline of approximately 141.4% year-over-year[31] - Cash inflow from operating activities totaled 25,406,482.11 RMB in Q1 2021, down from 32,470,082.51 RMB in Q1 2020, a decrease of approximately 21.6%[30] Assets and Liabilities - Total assets increased by 2.94% to CNY 1,246,435,474.59 compared to the end of the previous year[5] - Current assets totaled CNY 800,569,884.92, up from CNY 779,405,370.97, indicating an increase of about 2.2%[15] - Total liabilities increased to CNY 303,330,154.66 from CNY 270,260,527.74, marking a rise of approximately 12.2%[16] - Short-term borrowings increased to CNY 56,441,466.38 from CNY 40,069,933.88, representing a growth of about 40.7%[16] - Non-current assets totaled CNY 445,865,589.67, up from CNY 431,396,201.32, indicating an increase of approximately 3.4%[15] Research and Development - R&D investment as a percentage of operating revenue increased by 3.93 percentage points to 14.68%[5] - Research and development expenses increased by 19.05% to CNY 8,591,652.85 from CNY 7,216,737.90 year-on-year[11] - The company’s management indicated a focus on increasing R&D investment to drive future growth despite current revenue challenges[22] Shareholder Information - The total number of shareholders reached 10,755 by the end of the reporting period[9] - The top shareholder, Yan Qi, holds 14.44% of the shares, totaling 37,317,391 shares[9] Other Financial Metrics - The company reported a total of CNY 562,280.92 in non-recurring gains and losses for the period[8] - The company's short-term borrowings increased by 40.86% to CNY 56,441,466.38 from CNY 40,069,933.88 year-on-year[11] - The company reported a credit impairment loss of ¥-497,751.00, an improvement from ¥-713,043.03 in Q1 2020[22] - The company’s investment income dropped to CNY 51,487.37, a decrease of 100% compared to the previous year, attributed to reduced financial management income[12]