证券代码：688616 证券简称：西力科技 杭州西力智能科技股份有限公司 2021 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、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第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 | | | | | 单位：元 币种：人民币 | | | --- | --- | --- | --- | --- | --- | | | | 本报告期比 | | 年初至报告期 | | | | | 上年同期增 | | 末比上年同期 | | | 项目 | 本报告期 | 减变动幅度 | 年初至报告期末 | | 增减变动幅度 | | | | (%) | | | (%) | | 营业收入 | 84,346,514.48 | -1 ...

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥184.35 million, a decrease of 6.82% compared to ¥197.84 million in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2021 was approximately ¥34.81 million, representing a slight increase of 0.39% from ¥34.67 million in the previous year[20]. - The company's basic earnings per share for the first half of 2021 were ¥0.27, down 12.90% from ¥0.31 in the same period last year[18]. - The weighted average return on net assets for the first half of 2021 was 5.85%, a decrease of 2.57 percentage points from 8.42% in the previous year[18]. - The net cash flow from operating activities was approximately -¥26.96 million, compared to -¥13.34 million in the same period last year[20]. - The company reported a net profit of approximately ¥32.32 million after deducting non-recurring gains and losses, which is an increase of 4.11% from ¥31.04 million in the previous year[20]. - The total assets at the end of the reporting period were approximately ¥833.70 million, an increase of 18.08% from ¥706.03 million at the end of the previous year[20]. - The total liabilities decreased to RMB 138,192,555.61 from RMB 245,544,300.06, representing a reduction of approximately 43.7%[181]. - The company's cash and cash equivalents increased to RMB 305,554,449.63 from RMB 228,116,173.73, marking a growth of around 34%[179]. Research and Development - Research and development expenses accounted for 5.00% of operating revenue, a slight decrease of 0.17 percentage points from 5.17% in the previous year[18]. - The company achieved a total R&D expenditure of ¥9,221,034.30, a decrease of 9.77% compared to the previous period[38]. - The R&D personnel count has increased to 125, representing 25.72% of the total workforce, up from 20.21% in the previous period[47]. - The company has obtained a total of 82 patents, including 20 invention patents, 56 utility model patents, and 6 design patents, as well as 119 software copyrights[31]. - The company completed the R&D of a new smart energy efficiency control terminal product and participated in the construction of an IoT service platform for Ningxia Electric Power Company[37]. - The company has developed advanced technologies for smart energy meters, enhancing reliability and safety in complex environments[36]. - The company has established a provincial-level enterprise technology center and research institute, showcasing its commitment to R&D[31]. Market Position and Strategy - The company specializes in the research, production, and sales of smart meters and related products, integrating core technologies such as high-precision measurement and data security[29]. - The smart meter market is projected to grow significantly due to the global push for smart grid construction and energy efficiency[25]. - The company is positioned to benefit from the national goal of carbon neutrality by 2060, as smart meters play a crucial role in energy management and reduction of carbon emissions[27]. - The company aims to leverage its technological strengths to develop additional products, including smart water meters and smart gateways, expanding its product portfolio[29]. - The company has been awarded contracts in 38 consecutive public tenders by the State Grid since 2009, establishing itself as one of only six companies to achieve this[26]. Financial Management and Risks - The company's accounts receivable balance was CNY 182,177,000, accounting for 98.82% of the total revenue, indicating significant credit risk[65]. - The company faced risks related to reliance on the State Grid as a major customer, which could impact business performance if demand decreases[57]. - The company faced risks related to the high dependency on a single supplier for ESAM chips, which could impact production capabilities[59]. - The company reported a loss of CNY 61,816.30 from the disposal of non-current assets, indicating challenges in asset management[22]. Environmental and Regulatory Compliance - The company strictly adheres to environmental regulations, ensuring all pollutant emissions meet the required standards[80]. - The company generates wastewater primarily from domestic sources, with kitchen wastewater pre-treated through an oil separator and domestic sewage treated via a septic tank, complying with the Class 3 standards of the "Comprehensive Wastewater Discharge Standard" (GB8978-1996)[81]. - The company employs low-noise equipment in its production processes to ensure boundary noise levels meet the Class 2 limits of the "Industrial Enterprise Factory Boundary Environmental Noise Emission Standard" (GB12348-2008)[82]. - The company has committed to various shareholder agreements regarding share restrictions, with commitments made on May 18, 2020, lasting for 12 to 36 months post-listing[85]. Shareholder Commitments and Governance - The company has established long-term commitments to avoid competition and fund occupation, ensuring compliance with regulatory requirements[89]. - The company will limit any share transfers by executives to no more than 25% of their total holdings annually after the lock-up period[90]. - The company has a structured plan for share transfers post-IPO, ensuring that any reduction in holdings does not occur below the initial offering price[95]. - The company emphasizes strict adherence to these commitments regardless of changes in executive positions[91]. - The company commits to compensating investors for losses caused by false statements or omissions in the IPO application documents within three working days of receiving a notice from regulatory authorities[129]. Future Outlook and Investments - The company plans to use up to CNY 17,000 million of temporarily idle raised funds for cash management, ensuring it does not affect project progress or normal operations[155]. - The company has a construction project for smart meters with an investment of CNY 33,338.50 million, which is currently under construction[153]. - The company has invested CNY 3,000 million in working capital, achieving 97.47% of the planned investment[153]. - The company has made commitments to not interfere with management activities or misappropriate company interests, ensuring accountability among directors and senior management[135].

Financial Performance - The company's operating revenue for 2020 was CNY 452,934,276.38, representing a 6.54% increase compared to CNY 425,134,549.91 in 2019[19]. - The net profit attributable to shareholders for 2020 was CNY 73,721,139.68, an 18.56% increase from CNY 62,181,985.59 in 2019[19]. - The basic earnings per share for 2020 was CNY 0.66, up 20.00% from CNY 0.55 in 2019[20]. - The net profit after deducting non-recurring gains and losses for 2020 was CNY 65,440,561.38, a 21.49% increase from CNY 53,864,286.87 in 2019[19]. - The total assets at the end of 2020 were CNY 706,032,301.41, a 10.23% increase from CNY 640,483,291.64 at the end of 2019[19]. - The company's net assets attributable to shareholders at the end of 2020 were CNY 460,488,001.35, a 15.70% increase from CNY 398,016,861.67 at the end of 2019[19]. - The total revenue for the company was CNY 451,166,937.67, with a gross profit margin of 31.06%, reflecting a year-on-year increase of 1.77 percentage points[78]. - The company's reliance on the State Grid is significant, with sales to this customer amounting to CNY 37,797.30 million, accounting for 83.45% of total revenue[70]. Dividend Distribution - The proposed cash dividend distribution is 2.20 RMB per 10 shares, totaling 33 million RMB, which represents 44.76% of the net profit attributable to the parent company for 2020[4]. - In 2020, the company distributed a cash dividend of 2.20 RMB per 10 shares, totaling 33,000,000 RMB, representing a payout ratio of 44.76%[112]. - In 2019, the cash dividend was 1.00 RMB per 10 shares, totaling 11,250,000 RMB, with a payout ratio of 18.09%[112]. - In 2018, the cash dividend was also 1.00 RMB per 10 shares, totaling 11,250,000 RMB, with a payout ratio of 38.01%[112]. Research and Development - The company's R&D expenditure as a percentage of operating revenue was 5.16% in 2020, an increase from 4.95% in 2019[20]. - R&D expenses totaled ¥23,358,051.41, representing a 10.98% increase from the previous year, with R&D expenses accounting for 5.16% of operating revenue[47]. - The company has established a multi-departmental collaborative R&D system, focusing on continuous improvement and innovation in product development[31]. - The company has developed a high-reliability data storage middleware technology, enhancing the portability of database middleware and ensuring stable data response in various application scenarios[43]. - The company has completed the R&D of multiple new products, including the State Grid 20th edition single/three-phase smart energy meter and smart external circuit breaker with Bluetooth functionality[46]. - The company is developing an NB-IoT smart water meter, with an expected investment of ¥2,500,000, aimed at precise and low-cost water management[51]. Market Position and Strategy - The company specializes in the research, production, and sales of smart meters, electricity information collection terminals, and energy metering boxes, integrating core technologies such as high-precision measurement and data security[28]. - The company is actively developing new products such as smart water meters and smart gateways, expanding its product line beyond traditional energy metering[28]. - The smart meter industry is experiencing high marketization, with the State Grid implementing a total bid limit to reduce performance risks, leading to a relatively dispersed winning situation among companies[40]. - The company has participated in the formulation of 16 national standards for energy metering products, showcasing its influence in the industry[30]. - The company aims to expand its market presence by increasing overseas market investments and enhancing product certification efforts[104]. Operational Efficiency - The company utilizes an order-based production model, enhancing production efficiency and quality through an MES system integrated with ERP[36]. - The company has developed a Manufacturing Execution System (MES) that automates production processes, achieving a dynamic qualified rate below the target lower limit, with real-time monitoring of the entire production process[45]. - The company has established a robust quality traceability system that allows for real-time analysis and improvement of product quality based on manufacturing data[45]. - The company has implemented modular design principles in its software, improving code readability and maintainability, which is crucial for different hardware platforms[44]. Risks and Challenges - The company faces risks related to the single-source supply of ESAM chips, which are critical for smart meters and could impact production if supply is disrupted[71]. - The company is exposed to risks from fluctuations in raw material prices, which constitute over 80% of its main business costs[71]. - Future changes in national grid policies could adversely affect the company's business scale and performance due to the high correlation with investment arrangements[70]. - The company received government subsidies amounting to CNY 516.08 million, which constituted 7% of total profit, highlighting dependency on external support[73]. Corporate Governance and Compliance - The company has established a long-term commitment to avoid related party transactions and competition within the industry[119]. - The company has made commitments regarding the repurchase of shares in case of significant violations of disclosure regulations[118]. - The company has a profit distribution policy commitment, ensuring transparency in profit allocation[118]. - The company emphasizes the protection of shareholder and creditor rights, ensuring compliance with relevant laws and regulations[187]. Social Responsibility and Environmental Impact - The company actively engages in social responsibility initiatives, including blood donation and support for local employment for disabled individuals[192]. - The company’s emissions of pollutants comply with the total control requirements, and all waste discharges meet the relevant national standards[193]. - The company has implemented noise reduction measures to ensure compliance with industrial noise emission standards[194]. - The company’s production processes are designed to minimize environmental impact, including waste gas and wastewater treatment systems[193].

Financial Performance - Operating revenue rose by 119.27% to CNY 72,760,173.79 year-on-year[5] - Net profit attributable to shareholders increased by 350.84% to CNY 11,447,964.36 compared to the same period last year[5] - Basic earnings per share reached CNY 0.12, a 200.00% increase from CNY 0.04 in the previous year[5] - The net profit margin for Q1 2021 is expected to show significant improvement compared to the same period last year, although specific figures are not disclosed[19] - Net profit for Q1 2021 was ¥13,236,580.46, representing a 185.5% increase from ¥4,639,248.70 in Q1 2020[30] - Operating profit for Q1 2021 was ¥15,333,466.34, an increase of 178.5% from ¥5,494,429.85 in Q1 2020[29] - The company reported a total profit of ¥15,365,694.98 for Q1 2021, up from ¥5,394,149.85 in Q1 2020[30] Assets and Liabilities - Total assets increased by 25.20% to CNY 883,972,673.66 compared to the end of the previous year[5] - The company's total current assets as of March 31, 2021, amounted to ¥628,940,478.93, up from ¥462,609,508.65 in the previous year[21] - The total liabilities decreased significantly, with accounts payable dropping to zero as all payables were settled[15] - Current liabilities decreased to CNY 132,256,230.62 from CNY 203,528,965.00, a reduction of about 35%[22] - Non-current liabilities totaled CNY 44,782,725.26, compared to CNY 42,015,335.06, reflecting an increase of approximately 6.5%[23] - Owner's equity rose to CNY 706,933,717.78, up from CNY 460,488,001.35, indicating a growth of around 53.5%[23] - The total liabilities decreased to CNY 177,038,955.88 from CNY 245,544,300.06, a reduction of about 28.0%[23] Cash Flow - The net cash flow from operating activities was CNY 6,180,201.72, a significant recovery from a loss of CNY 11,045,390.58 in the same period last year[5] - In Q1 2021, the cash inflow from sales of goods and services was CNY 84,596,190.80, an increase of 29.2% compared to CNY 65,462,221.53 in Q1 2020[36] - The total cash inflow from investment activities was CNY 119,368,767.80, down 31.6% from CNY 174,457,333.70 in Q1 2020[37] - The cash inflow from financing activities was CNY 252,625,000.00, with a net cash flow of CNY 247,805,624.99 after outflows[39] - The company reported a total cash outflow from operating activities of CNY 95,576,765.51, slightly down from CNY 96,098,507.00 in Q1 2020[36] Shareholder Information - The total number of shareholders reached 14,267 by the end of the reporting period[11] - The top shareholder, Song Yiran, holds 33.22% of the shares, totaling 49,830,000 shares[11] - The company has no preferred shareholders, indicating a straightforward equity structure[15] Research and Development - Research and development expenses amounted to CNY 3,772,200, up 25.90% year-on-year, but the R&D expense ratio decreased by 3.85 percentage points to 5.18% of operating revenue[6] - Research and development expenses for Q1 2021 totaled ¥3,772,166.91, up 26% from ¥2,996,063.96 in Q1 2020[29] Other Financial Metrics - The weighted average return on equity increased by 1.67 percentage points to 2.83%[5] - Non-recurring gains and losses totaled CNY 1,788,616.10 for the period[9] - The company reported a 138.02% increase in taxes paid, totaling ¥13,811,255.15, due to the payment of deferred taxes from the previous period[16] - The company experienced a decrease in credit impairment losses, reporting ¥965,076.11 in Q1 2021 compared to ¥1,705,997.41 in Q1 2020[29]