证券代码：688528 证券简称：秦川物联 公告编号：2023-032 成都秦川物联网科技股份有限公司（以下简称"公司"）第三届董事会第五次 会议，于 2023 年 8 月 15 日以现场及通讯方式召开。本次会议由董事长邵泽华召 集并主持，应参加表决董事 5 名，实际参加表决董事 5 名。本次会议的通知、召 开及表决流程符合《中华人民共和国公司法》（以下简称"《公司法》"）和《成都 秦川物联网科技股份有限公司章程》（以下简称"《公司章程》"）的规定，审议 并一致通过如下决议。 二、会议审议情况 （一）审议通过《关于公司 2023 年半年度报告及其摘要的议案》 董事会认为：公司 2023 年半年度报告的编制和审议程序符合法律、法规、 《公司章程》和公司内部管理制度的各项规定；公司 2023 年半年度报告的内容 和格式符合有关法律法规的规定，所载信息真实、准确、完整的反映了公司 2023 年半年度的财务状况、经营成果及现金流量等事项；在 2023 年半年度报告的编 制过程中，未发现参与半年度报告编制和审议的人员有违反内幕信息制度规定的 行为。董事会全体成员保证公司 2023 年半年度报告所披露的信息真实、准确和 ...

Financial Performance - The company's operating revenue for Q1 2023 was ¥50,234,319.06, representing a decrease of 5.92% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥14,871,528.58, with a basic and diluted earnings per share of -¥0.089[5]. - Total revenue for Q1 2023 was ¥50,234,319.06, a decrease of 6.5% compared to ¥53,393,812.56 in Q1 2022[17]. - Net loss for Q1 2023 was ¥14,871,528.58, compared to a net loss of ¥7,896,352.76 in Q1 2022, representing a 88.5% increase in losses[19]. - Operating profit for Q1 2023 was -¥19,918,973.33, worsening from -¥9,133,745.20 in Q1 2022[18]. - Basic and diluted earnings per share for Q1 2023 were both -¥0.089, compared to -¥0.047 in Q1 2022[19]. - The total comprehensive income for Q1 2023 was -$13.06 million, compared to -$7.90 million in Q1 2022, reflecting ongoing financial challenges[30]. Assets and Liabilities - The total assets at the end of Q1 2023 were ¥1,031,636,164.99, a decrease of 1.10% from the end of the previous year[6]. - The total equity attributable to shareholders decreased by 1.98% to ¥735,064,478.38[6]. - Total liabilities increased to ¥296,571,686.61 in Q1 2023, compared to ¥293,203,515.94 in Q1 2022[16]. - Current liabilities totaled ¥263,845,011.57 in Q1 2023, up from ¥228,848,059.69 in Q1 2022, marking a 15.3% increase[16]. - Non-current liabilities decreased to ¥32,726,675.04 in Q1 2023 from ¥64,355,456.25 in Q1 2022, a reduction of 49.2%[16]. - The company's cash and cash equivalents decreased to RMB 225,978,446.14 from RMB 268,161,786.78 year-over-year[13]. - Cash and cash equivalents at the end of the period were CNY 203,240,880.75, down from CNY 246,342,128.43, indicating a decrease in liquidity[23]. Cash Flow - The net cash flow from operating activities was -¥23,993,420.55, indicating a negative cash flow situation[5]. - Net cash inflow from operating activities was CNY 53,793,712.75, an increase from CNY 47,033,039.51 in the previous year, reflecting a year-over-year growth of approximately 14.8%[22]. - Cash flow from operating activities showed a net outflow of -$19.86 million, an improvement from -$41.88 million in Q1 2022[32]. - Net cash outflow from investing activities was CNY 16,728,173.46, compared to a net inflow of CNY 3,161,499.95 in the same period last year, indicating a significant shift in investment strategy[23]. - Net cash outflow from financing activities was CNY 7,581,697.22, a decrease from a net inflow of CNY 39,153,028.09 in the previous year, highlighting a reduction in borrowing activities[23]. Research and Development - Research and development expenses amounted to ¥14,749,655.73, accounting for 29.36% of operating revenue, an increase of 9.78 percentage points year-on-year[5]. - Research and development expenses rose to ¥14,749,655.73 in Q1 2023, an increase of 41.8% from ¥10,452,314.20 in Q1 2022[18]. - Research and development expenses rose to $14.19 million, up 35.5% from $10.45 million in Q1 2022[29]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 7,358[9]. - The top shareholder, Shao Zehua, holds 60.22% of the shares, with a total of 101,165,281 shares[10]. - The company has a total of 10 major shareholders, with the top 10 holding a significant portion of the shares[11]. Market Strategy - The company is focusing on expanding its market presence and developing new technologies[12]. - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[22]. - The increase in operating expenses was attributed to higher R&D costs and increased sales and management expenses due to market expansion efforts[7].

成都秦川物联网科技股份有限公司 关于召开 2022 年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、准确性和完整性依法承担法律责任。 证券代码：688528 证券简称：秦川物联 公告编号：2023-023 重要内容提示： 会议召开时间：2023 年 04 月 21 日(星期五)下午 15:00-16:30 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频直播和网络互动 投资者可于 2023 年 04 月 14 日(星期五)至 04 月 20 日(星期四)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 zhengquanbu@qinchuan- meters.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。 成都秦川物联网科技股份有限公司（以下简称"公司"）已于 2023 年 3 月 31 日发 布公司 2022 年年度报告，为便于广大投资者更全面深入地了解公司 2022 年度经营成 果、财务状况， ...

Financial Performance - The company reported a profit distribution plan for 2022, proposing no profit distribution or capital reserve transfer to share capital [5]. - The company has not achieved profitability since its listing [4]. - The company's operating revenue for 2022 was CNY 367,901,054.71, representing a 20.36% increase compared to CNY 305,677,208.41 in 2021 [19]. - The net profit attributable to shareholders decreased by 95.30% to CNY 1,371,166.80 from CNY 29,203,308.54 in the previous year [19]. - The basic earnings per share dropped by 94.12% to CNY 0.01 from CNY 0.17 in 2021 [21]. - The gross profit margin decreased from 35.89% in 2021 to 30.51% in 2022, a decline of 5.38 percentage points [22]. - The net cash flow from operating activities was CNY 19,106,460.60, a significant recovery from a negative cash flow of CNY -27,020,472.57 in 2021 [19]. - The total net assets attributable to shareholders at the end of 2022 were CNY 749,936,006.96, a slight decrease of 1.15% from CNY 758,644,840.16 in 2021 [19]. - The company reported a significant focus on developing smart gas meters and related technologies, with several patents filed for electronic gas meters and energy measurement systems [73][74]. - The company achieved a total of 65 new authorized invention patents, 33 utility model patents, 3 design patents, and 6 US invention patents during the reporting period [70]. Research and Development - Research and development expenses accounted for 13.70% of operating revenue, an increase of 1.39 percentage points from 12.31% in 2021 [21]. - The company added 65 new Chinese invention patents, 33 utility model patents, and 3 design patents during the reporting period [39]. - R&D expenses increased by 33.98% year-on-year, totaling ¥50,401,524.16, compared to ¥37,618,220.96 in the previous year [77]. - The company is focusing on developing smart city solutions, including IoT-based flood warning systems and irrigation management systems [75]. - The company is expanding its research and development in smart gas and water management, integrating IoT technology to enhance urban public utility services [60]. - The company is committed to advancing smart manufacturing in line with national policies, targeting significant digital transformation in the manufacturing sector by 2025 [64]. Market and Industry Trends - The demand for smart gas meters is driven by the increasing natural gas consumption and the need for smart city infrastructure, leading to a continuous market growth for smart gas meters [58]. - The smart gas meter market is expected to grow due to factors such as rising natural gas consumption, mandatory replacements of old meters, and the increasing demand for smart city management [59]. - The global smart gas meter market is projected to grow at a CAGR of 6.3%, reaching approximately $10.9 billion by 2026 [176]. - The Chinese smart sensor market grew from approximately ¥81.41 billion in 2017 to about ¥111.34 billion in 2021, with a CAGR of 8.14%, and is expected to reach ¥130.83 billion by 2023 [178]. - The company is aware of the intensifying competition in the market as related industries may diversify into its business area [174]. Risks and Challenges - The company is exposed to risks from fluctuations in raw material prices, which accounted for over 70% of its operating costs during the reporting period [115]. - The company faces risks related to market competition, with the need to continuously enhance R&D capabilities and expand production capacity to maintain its competitive edge [113]. - The company is at risk of significant declines in performance if macroeconomic conditions worsen or if there are major changes in industry policies affecting demand [109]. - Future growth may be impacted by industry risks, including changes in regulations and market demand fluctuations [125]. Corporate Governance - The company has established a complete governance structure to ensure the protection of shareholder rights and promote sustainable development [187]. - The board of directors consists of 5 members, including 2 independent directors, and held 10 meetings during the reporting period, approving 31 resolutions [191]. - The supervisory board has 3 members and convened 7 meetings, passing 19 resolutions in 2022 [192]. - The company emphasizes investor relations management, enhancing communication through various channels, including information disclosure and investor interactions [194]. - The company has maintained its independence from its controlling shareholders, ensuring autonomous operational capabilities [195]. Strategic Initiatives - The company is expanding its product offerings and investing in new technologies to enhance market competitiveness [130]. - The company aims to enhance its competitive advantage in the IoT smart gas meter and software system sector, which is closely linked to the rising natural gas consumption and mandatory meter replacements [174]. - The company plans to develop new products and technologies, including ultrasonic flow meters, to meet the increasing demands of gas operators for smart and integrated management solutions [110]. - The company is actively pursuing market expansion through innovative product offerings and strategic investments in technology [79]. - The company aims to enhance its market share through innovative product development and strategic partnerships in the gas and water measurement sectors [84].

2022 年第三季度报告 证券代码：688528 证券简称：秦川物联 成都秦川物联网科技股份有限公司 2022 年第三季度报告 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。 公司负责人邵泽华、主管会计工作负责人李婷及会计机构负责人（会计主管人员）罗媛 保证季度报告中财务信息的真实、准确、完整。 第三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 1 / 14 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 (%) 年初至报告期 末 年初至报告 期末比上年 同期增减变 动幅度(%) 营业收入 99,340,768.74 34.46 253,149,847.92 11.51 归属于上市公司股东的净 利润 3,096,587.41 -30.75 -3,060,715.26 -114.34 归属于上市 ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥153,809,079.18, representing a 0.44% increase compared to ¥153,131,462.18 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was -¥6,157,302.67, a decrease of 136.51% from ¥16,865,772.44 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥9,811,243.69, down 169.88% from ¥14,041,091.59 in the same period last year[18]. - The net cash flow from operating activities was -¥61,622,939.23, compared to -¥65,657,880.92 in the previous year, indicating a slight improvement[18]. - The net assets attributable to shareholders at the end of the reporting period were ¥742,407,537.49, a decrease of 2.14% from ¥758,644,840.16 at the end of the previous year[18]. - Total assets increased by 2.29% to ¥1,013,146,731.81 from ¥990,491,416.14 at the end of the previous year[18]. - The basic earnings per share for the period was -0.04 yuan, down 140.00% compared to the same period last year[19]. - The weighted average return on net assets was -0.81%, a decrease of 3.03 percentage points from the previous year[19]. - The gross profit margin for the first half of 2022 was 27.31%, down 10.98 percentage points from 38.29% in the first half of 2021[83]. - The company reported a total revenue of 11,000,000.00 for the smart water management platform, with a year-on-year increase of 4,274,070.85, representing a growth of approximately 63.7%[59]. - The smart gas meter segment generated revenue of 4,941,000.00, with a significant increase of 1,731,717.69, reflecting a growth rate of about 53.5%[59]. - The company reported a revenue of 97,792,500.00 RMB for the first half of 2022, with a net profit of 22,811,823.03 RMB, representing a significant increase compared to the previous year[62]. Research and Development - The company's R&D expenditure accounted for 14.83% of operating revenue, an increase of 3.06 percentage points year-on-year[20]. - The total R&D investment for the period was ¥22,811,823.03, representing a 26.54% increase compared to ¥18,027,708.77 in the same period last year[55]. - The number of R&D personnel increased to 185, accounting for 25.98% of the total workforce, up from 23.51% in the previous year[65]. - The average salary of R&D personnel rose to 7.92 million RMB, compared to 7.48 million RMB in the previous year[65]. - The company has achieved significant progress in its R&D projects, enhancing the performance of IoT modules and communication gateways to meet international market demands[57]. - The company has developed core technologies such as mechanical measurement technology, shell sealing technology, and temperature conversion technology, all of which are independently developed[48]. - The company has filed for multiple new patents, including a lithium battery backup detection circuit and a smart city cloud platform, indicating a focus on innovation and technology development[52]. - The company has obtained 17 new patents in 2022, reflecting its commitment to expanding its intellectual property portfolio[53]. - The company has established a strong market position with continuous sales growth, supported by significant R&D investments and a high brand recognition[46]. Market and Product Development - The company is focused on integrating core technologies such as precise measurement and data communication into its products[27]. - The smart gas meter market is expected to grow significantly, driven by increasing natural gas consumption and the demand for smart management services from gas operators[38][39]. - By 2025, the total demand for natural gas in China is projected to reach 430-450 billion cubic meters, indicating a robust growth trajectory for the gas meter market[39]. - The global smart gas meter market is anticipated to grow at a compound annual growth rate (CAGR) of 6.3%, reaching approximately $10.9 billion by 2026[42]. - The company has a competitive edge in the IoT smart gas meter sector, with proprietary technology enhancing measurement accuracy and safety[43][45]. - The company is committed to R&D in smart gas and water management, aligning with national policies promoting smart city development[39][40]. - The company’s smart gas meters incorporate advanced features such as remote management and safety monitoring, positioning them as essential components in the transition to smart cities[38][45]. - The company is focusing on enhancing the functionality of its products through the integration of advanced technologies such as ultrasonic and NB IoT[59]. - The company aims to improve its market competitiveness by developing a comprehensive information management platform for water services[59]. Risks and Challenges - The company is exposed to risks from fluctuating raw material prices, which accounted for over 70% of operating costs during the reporting period[93]. - The market for smart gas meters is influenced by natural gas consumption and urbanization, with potential risks from changes in national industrial policies affecting demand growth[92]. - The company faces risks related to technology leaks and the potential loss of core technical personnel due to increasing competition for talent in the industry[88]. - The accounts receivable balance increased from CNY 235.23 million at the end of 2021 to CNY 275.68 million by June 2022, with accounts receivable turnover rate being low, posing a risk of bad debts[99]. - The company has faced a significant lawsuit involving a claim for unpaid due payments amounting to RMB 3.21 million and additional economic losses of RMB 1.07 million, totaling RMB 5.21 million[150]. - The company is currently involved in a legal case where the total claim has increased to RMB 11.72 million, including a request for damages due to infringement[150]. Corporate Governance and Compliance - The company has not reported any major litigation or arbitration matters that have not been previously announced[151]. - There are no significant related party transactions that have not been disclosed in temporary announcements[152]. - The company has committed to repaying investors in case of any false statements or omissions in the prospectus, with compensation based on the actual losses determined by regulatory authorities[145]. - The company has not faced any penalties or corrective actions related to violations of laws or regulations during the reporting period[151]. - The company has not reported any non-standard audit opinions in the previous annual report[149]. - The company has not engaged in any significant asset acquisitions or equity purchases during the reporting period[153]. - The company has not reported any significant changes in the integrity status of its controlling shareholders or actual controllers during the reporting period[151]. Shareholder Information - The total number of ordinary shareholders as of the reporting period end was 7,351[171]. - The largest shareholder, Shao Zehua, held 101,165,281 shares, representing 60.22% of the total shares[173]. - The company reported a total of 4,963,000 shares held by Chengdu Qinchuan Xingshen Investment Co., Ltd., representing 2.95% of total shares[174]. - The top ten unrestricted shareholders include Chengdu Qinchuan Xingshen Investment Co., Ltd. with 4,137,517 shares and Qiongcun Huazhuo Enterprise Management Partnership with 3,927,000 shares[174]. - The company has a total of 101,165,281 restricted shares held by Shao Zehua, which will become tradable on July 1, 2023[175]. - The company’s strategic investor, Huafu Ruixing Investment Management Co., Ltd., holds 1,705,700 restricted shares, with 394,300 shares lent out through a securities lending program[177]. Environmental and Social Responsibility - The company emphasizes energy conservation and low carbon emissions, implementing measures such as providing electric commuter buses to reduce fossil fuel usage and CO2 emissions[126]. - The company promotes a green office concept, advocating for paperless operations and optimizing lighting circuits to save electricity[126]. - The company has adopted 6S management on-site to improve work environments, enhance employee efficiency, and reduce pollutant emissions[126].

Financial Performance - The company plans to distribute a cash dividend of RMB 0.60 per 10 shares, totaling RMB 10,080,000, which represents 34.52% of the net profit attributable to shareholders for 2021[5]. - As of December 31, 2021, the total share capital of the company was 168,000,000 shares[5]. - The company has not yet achieved profitability since its listing[7]. - The company has received a standard unqualified audit report from Sichuan Huaxin (Group) CPA[8]. - In 2021, the company achieved operating revenue of CNY 305.68 million, a year-on-year increase of 1.19% compared to CNY 302.08 million in 2020[20]. - The net profit attributable to shareholders was CNY 29.20 million, a decrease of 36.73% from CNY 46.16 million in 2020[20]. - The net profit after deducting non-recurring gains and losses was CNY 17.76 million, down 57.69% from CNY 41.98 million in 2020[20]. - The company's cash flow from operating activities was negative at CNY -27.02 million, compared to CNY -2.52 million in 2020[20]. - The basic earnings per share decreased by 45.16% to CNY 0.17 from CNY 0.31 in 2020[21]. - The weighted average return on equity decreased to 3.87%, down 4.95 percentage points from 8.82% in 2020[21]. - The total assets at the end of 2021 were CNY 990.49 million, a slight increase of 0.02% from CNY 990.28 million at the end of 2020[20]. - The net assets attributable to shareholders increased by 0.53% to CNY 758.64 million from CNY 754.64 million at the end of 2020[20]. Research and Development - The R&D investment accounted for 12.31% of operating revenue, an increase of 4.27 percentage points from 8.04% in 2020[22]. - R&D expenses reached 3,761.82 million yuan, a 54.85% increase compared to the previous year, representing 12.31% of total revenue[35]. - The company is actively investing in R&D to strengthen its core product technology and innovation capabilities, responding to the increasing demand for smart gas meters[34]. - The company has added 7 invention patents, 54 utility model patents, and 38 software copyrights during the reporting period, enhancing its intellectual property portfolio[35]. - The company is focusing on upgrading its IoT smart gas and water meter technologies to meet diverse customer needs and improve product competitiveness[55]. - The company is committed to continuous innovation, as evidenced by the diverse range of patents obtained, which cover various aspects of IoT technology[65][66]. - The company is investing in R&D for new technologies, including advanced gas meter components and automated assembly systems, to improve production efficiency[67]. - The company is enhancing its product competitiveness through continuous R&D and strategic investments in new technologies and market opportunities[72]. Market Strategy and Expansion - The company plans to enhance marketing efforts and increase R&D spending to improve competitiveness and product innovation in response to market challenges[22]. - The company focused on expanding its market presence among large gas companies and provincial capital cities, while maintaining customer loyalty[34]. - The company is planning to explore strategic partnerships and potential acquisitions to further enhance its technological capabilities and market reach[66]. - The company is committed to upgrading its R&D center and smart factories to support ongoing technological advancements[158]. - The company plans to expand its market presence by targeting large gas companies and provincial capital cities while also exploring international markets[161]. - The company aims to enhance its core competitiveness by optimizing R&D resource allocation and focusing on market-oriented R&D strategies, particularly in IoT smart products[162]. Operational Efficiency - The production model is based on "sales-driven production," allowing the company to adapt to market demand and optimize inventory management[46]. - The company has implemented advanced manufacturing technologies, including automation and real-time feedback systems, to enhance production efficiency and product quality[46]. - The company achieved a 30% reduction in production costs through process optimization and automation initiatives[67]. - The company has established a complete governance structure, ensuring clear responsibilities and effective checks and balances among its management, board, and shareholders[169]. Corporate Governance - The company has not disclosed any special arrangements for corporate governance[9]. - The company has established a nationwide marketing service network, primarily utilizing a direct sales model, fostering long-term partnerships with numerous downstream customers[47]. - The company emphasizes transparent information disclosure, adhering to legal requirements to protect the interests of minority investors[175]. - The company is enhancing investor relations management through various communication channels to foster a harmonious development environment[176]. - The company reported a total of 101,165,300 shares held by the chairman and general manager, with no changes during the reporting period[180]. Risks and Challenges - The company has outlined potential risks in its operations, which are detailed in the management discussion and analysis section[4]. - The company faces risks related to market competition, requiring continuous enhancement of R&D capabilities and marketing strategies[101]. - The company is exposed to financial risks, including potential bad debts from accounts receivable, which could adversely affect operational cash flow and net profit[109]. - The company faces risks related to the uncertain growth trend of IoT smart gas meters, with revenue growth contributions of 74.69% in 2020 and 13.73% in 2021[107]. Intellectual Property - The company holds 142 authorized invention patents, 156 utility model patents, and 200 software copyrights, indicating a strong R&D capability[53]. - The cumulative number of intellectual property rights includes 142 invention patents and 156 utility model patents, totaling 509 effective patents[64]. - The company is actively pursuing patent applications to protect its intellectual property, which is crucial for its ongoing development[100]. Customer Base and Sales - The number of customers increased from 620 in 2020 to 637 in 2021, with significant growth in high-revenue clients, particularly those generating over 4 million RMB, which rose from 8 to 14 clients[125]. - Revenue from clients generating over 4 million RMB accounted for 31.61% of total revenue in 2021, up from 20.37% in 2020[125]. - The company plans to continue expanding its customer base and increasing sales to larger clients as part of its strategic focus[126]. - The overall market strategy has shifted towards targeting larger gas operators, resulting in increased revenue from this segment[126].

Financial Performance - The company's operating revenue for Q1 2022 was ¥53,393,812.56, representing a year-on-year increase of 1.29%[4] - The net profit attributable to shareholders was -¥7,896,352.76, a decrease of 1017.38% compared to the same period last year[4] - The net cash flow from operating activities was -¥41,876,162.02, indicating a significant cash outflow[4] - The weighted average return on equity was -1.05%, a decrease of 1.16 percentage points[4] - The basic and diluted earnings per share were both -¥0.0470, reflecting a decline of 1021.57% year-on-year[4] - The company reported a decrease in cash received from sales of goods and services to CNY 41,900,606.99 in Q1 2022 from CNY 46,742,296.95 in Q1 2021, a decline of about 10.0%[25] - The company's basic and diluted earnings per share for Q1 2022 were both CNY -0.0470, compared to CNY 0.0051 in Q1 2021, indicating a significant decline[23] - The company’s total equity decreased to CNY 750,748,487.40 in Q1 2022 from CNY 758,644,840.16 in Q1 2021, a decline of about 1.0%[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,001,927,776.65, up 1.15% from the end of the previous year[5] - The total assets increased to CNY 1,001,927,776.65 in Q1 2022 from CNY 990,491,416.14 in Q1 2021, reflecting a growth of approximately 1.4%[18] - The total liabilities rose to CNY 251,179,289.25 in Q1 2022, up from CNY 231,846,575.98 in Q1 2021, marking an increase of about 8.3%[18] - Accounts receivable increased to RMB 243,382,614.17 from RMB 235,225,861.96 year-over-year[16] - Inventory as of March 31, 2022, was RMB 79,070,386.92, compared to RMB 69,921,723.33 at the end of 2021, reflecting a growth of approximately 13.3%[16] - The total current assets decreased to RMB 643,302,742.46 from RMB 646,360,146.92 at the end of 2021[16] Research and Development - Research and development expenses totaled ¥10,452,314.20, accounting for 19.58% of operating revenue, an increase of 3.70 percentage points year-on-year[5] - Research and development expenses for Q1 2022 were CNY 10,452,314.20, up from CNY 8,371,137.37 in Q1 2021, representing a growth of approximately 24.8%[22] Market Conditions and Challenges - The company faced increased market competition and impacts from COVID-19, leading to a decline in sales prices and delayed orders[8] - The company plans to continue increasing its market expansion efforts and R&D investments despite current challenges[8] Shareholder Information - The total number of common shareholders at the end of the reporting period was 7,499[10] - The largest shareholder, Shao Zehua, holds 60.22% of the shares, totaling 101,165,281 shares[10] Cash Flow and Financing - The net cash flow from investment activities was $3,161,499.95, compared to a negative cash flow of -$3,165,885.11 in the previous period, indicating a positive turnaround in investment performance[26] - Cash inflow from financing activities totaled $39,520,528.09, significantly higher than $10,009,904.73 in the previous period, reflecting increased borrowing and investment[26] - The net increase in cash and cash equivalents was $437,905.24, contrasting with a decrease of -$41,638,148.99 in the previous period, showing improved liquidity[26] - The ending balance of cash and cash equivalents reached $246,342,128.43, up from $173,613,799.86 in the previous period, indicating a strong cash position[26] - The company received $39,500,000.00 in new borrowings, which contributed to the financing cash inflow[26] - The cash outflow for financing activities was limited to $367,500.00, showing effective management of cash distributions[26] - The cash flow from investment activities was $20,164,382.18, while cash outflow for investments was $17,002,882.23, resulting in a positive net cash flow from investments[26] - The company reported a cash inflow from other financing activities of $20,528.09, indicating additional funding sources[26] Legal Matters - The company is involved in a lawsuit with Hebei Huaran Changtong Gas Co., Ltd., which has not yet gone to trial[12] - The report indicates a focus on maintaining compliance with legal and regulatory requirements regarding shareholder activities[12] Stock Activities - The strategic placement of 2.1 million shares by Huafu Ruixing Investment Management Co., Ltd. has a lock-up period of 24 months[11] - The company has engaged in stock lending activities, with 457,100 shares lent out under relevant regulations[11] Accounting Standards - The company is not applying the new accounting standards for the current year, which may impact future financial reporting[26]

Financial Performance - The company achieved operating revenue of CNY 305.68 million, a year-on-year increase of 1.19% compared to CNY 302.08 million in 2020[20]. - The net profit attributable to shareholders was CNY 29.20 million, representing a significant decrease of 36.73% from CNY 46.16 million in 2020[20]. - The net profit after deducting non-recurring gains and losses was CNY 17.76 million, down 57.69% from CNY 41.98 million in 2020[20]. - The company's cash flow from operating activities showed a negative net amount of CNY -27.02 million, compared to CNY -2.52 million in 2020[20]. - The basic earnings per share decreased by 45.16% to CNY 0.17 from CNY 0.31 in 2020[21]. - The weighted average return on equity dropped to 3.87%, a decrease of 4.95 percentage points from 8.82% in 2020[21]. - The total assets at the end of 2021 were CNY 990.49 million, a slight increase of 0.02% from CNY 990.28 million at the end of 2020[20]. - The company achieved operating revenue of 30,567.72 million yuan, a year-on-year increase of 1.19%, while net profit attributable to shareholders decreased by 36.73% to 2,920.33 million yuan[33]. - The company reported a total revenue of 1.5 billion in 2021, representing a year-over-year growth of 15%[172]. Research and Development - The R&D investment accounted for 12.31% of operating revenue, an increase of 4.27 percentage points from 8.04% in 2020[22]. - R&D expenses reached 3,761.82 million yuan, a 54.85% increase compared to the previous year, representing 12.31% of total revenue[35]. - The company has added 7 invention patents, 54 utility model patents, and 38 software copyrights during the reporting period, enhancing its intellectual property portfolio[35]. - The company is focused on the development of IoT gas meters, smart water meters, and flow meters, integrating core technologies in gas measurement and control with IoT[72]. - The company is committed to continuous innovation, as evidenced by the diverse range of patents obtained, including those for low-power load circuits and anti-reverse connection indicators[66]. - The company has established a talent strategy plan to support its development strategy and ensure the achievement of management goals[193]. Market and Competition - The company faced challenges due to intensified market competition and the impact of the COVID-19 pandemic, resulting in a decline in product prices and gross margins[22]. - The company focused on expanding its market presence among major clients, leading to increased marketing expenses[22]. - The company is focused on expanding its market presence through technological innovation and strategic partnerships in the smart utility sector[57]. - The company aims to enhance its core competitiveness by optimizing R&D resource allocation and focusing on market-oriented R&D strategies, developing standardized and modular IoT smart products[154]. - The company is expanding its international market presence, leveraging enhanced product competitiveness through technological advancements[74]. Governance and Management - The board of directors held 8 meetings in 2021, approving 25 proposals, ensuring effective governance and decision-making processes[164]. - The supervisory board convened 4 meetings in 2021, reviewing 14 proposals, maintaining oversight of financial and operational compliance[165]. - The company has established a complete governance structure with clear responsibilities among its decision-making, supervisory, and management bodies[160]. - The company has not provided guarantees or financial assistance to its controlling shareholders or related parties, ensuring independence in operations[162]. - The company has a complete "three meetings and one layer" management system that operates independently while effectively balancing each other[167]. Cash Dividend and Share Capital - The company plans to distribute a cash dividend of RMB 0.60 per 10 shares, totaling RMB 10,080,000, which represents 34.52% of the net profit attributable to shareholders for 2021[5]. - As of December 31, 2021, the total share capital of the company was 168,000,000 shares[5]. - The cash dividend policy emphasizes a stable and sustainable return to investors while ensuring the company's ongoing operational capability[195]. - The company’s cash dividend proposal for 2021 is subject to approval at the annual shareholders' meeting[198]. Risks and Challenges - The company has outlined potential risks in its operations, which are detailed in the management discussion and analysis section[4]. - The company faces risks related to market competition, requiring ongoing enhancement of R&D capabilities and marketing strategies to maintain its competitive edge[104]. - The company is exposed to industry risks, including regulatory changes that could impact production and operational stability[112]. - The company faces risks related to potential changes in tax incentives for high-tech enterprises, which could adversely affect profitability[111]. Production and Operations - The company produced a total of 1,453,607 gas and water meters, reflecting an 8.75% increase in production volume compared to 2020[36]. - The production model is based on "sales-driven production," allowing the company to adapt to market demand and sales forecasts effectively[46]. - The company’s procurement process involves rigorous supplier qualification and product testing to ensure quality and reliability[2]. - The company has implemented a comprehensive quality management system to ensure the reliability and safety of its products[96]. Employee and Talent Management - The company employed a total of 683 staff members, with 337 in production, 111 in sales, 157 in technical roles, 12 in finance, and 66 in administration[190]. - The educational background of employees includes 31 with master's degrees, 234 with bachelor's degrees, and 418 with diplomas or below, totaling 683[191]. - The company implements a performance-based compensation policy, aligning employee income growth with company performance[192]. - The training program includes onboarding for new employees, system training, safety and environmental training, career development training, and professional skills training[193].

Financial Performance - Revenue for Q3 2021 was CNY 73,883,487.66, a decrease of 2.04% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 4,471,847.04, down 35.16% year-over-year[5] - The basic earnings per share for the period was CNY 0.03, a decrease of 25.00% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses for the period was CNY 3,102,543.21, down 51.48% year-over-year[5] - Operating profit decreased to ¥21,455,390.74, down 44.8% from ¥38,937,184.14 in the previous year[20] - Net profit for the first three quarters of 2021 was ¥21,337,619.48, a decline of 37.5% from ¥34,235,479.02 in 2020[21] Research and Development - R&D expenses totaled CNY 8,875,498.81, representing 12.01% of revenue, an increase of 3.31 percentage points compared to the previous year[6] - The company has ongoing research and development efforts, although specific new products or technologies were not detailed in the report[14] - Research and development expenses increased to ¥26,903,207.58, up 52.9% from ¥17,591,491.96 in the same period last year[20] Assets and Liabilities - Total assets at the end of the reporting period were CNY 975,368,800.24, a decrease of 1.51% from the end of the previous year[6] - The company's current assets totaled ¥641,762,870.97, down from ¥706,054,927.32 in the previous year[15] - Total liabilities decreased to ¥224,589,649.14 from ¥235,642,122.94, a reduction of about 4.5%[17] - The company's equity totaled ¥750,779,151.10, slightly down from ¥754,641,531.62, indicating a decrease of around 0.5%[17] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 47,574,344.99 for the year-to-date[6] - Cash flow from operating activities showed a net outflow of ¥47,574,344.99, worsening from a net outflow of ¥20,528,479.49 in 2020[23] - Cash flow from investing activities generated a net inflow of ¥53,211,891.29, compared to a net outflow of ¥54,947,203.11 in the previous year[24] - Total cash inflow from financing activities was ¥47,526,649.59, significantly lower than ¥472,032,600.00 in the previous year[24] Market and Competition - The company faced increased sales expenses due to intensified market competition and expanded market development efforts[9] - Future outlook includes potential market expansion strategies, but specific plans were not disclosed in the conference call[14] Shareholder Information - The company reported a total of 8,036 common shareholders at the end of the reporting period[11]