Financial Performance - The company's operating revenue for the first half of 2021 reached ¥424.42 million, a year-on-year increase of 32.40%[23]. - Net profit attributable to shareholders was ¥79.08 million, reflecting a year-on-year growth of 17.94%[23]. - The net cash flow from operating activities decreased by 571.35% to -¥45.87 million compared to the same period last year[24]. - The company's total assets increased by 121.16% to ¥1.68 billion at the end of the reporting period[23]. - The net assets attributable to shareholders rose by 242.54% to ¥1.36 billion compared to the end of the previous year[23]. - The basic earnings per share for the reporting period was ¥1.75, slightly up by 1.16% from the previous year[23]. - The company's revenue primarily comes from technical service income during the new model matching development phase, with fees ranging from several million to tens of millions of yuan[38]. - The sales revenue from electronic control system products, including gasoline engine EMS, pure electric vehicle VCU, and MCU, is a major income source[38]. - The company achieved a sales revenue of 424.42 million RMB, representing a year-on-year growth of 32.40%[61]. - Product sales revenue reached 421.07 million RMB, an increase of 44.97% compared to 290.45 million RMB in the same period last year[61]. Research and Development - The research and development expenditure accounted for 8.07% of operating revenue, an increase of 1.03 percentage points year-on-year[25]. - R&D investment increased by 51.74% year-on-year, totaling ¥34,249,860.06, compared to ¥22,571,265.17 in the previous period[44]. - R&D expenses accounted for 8.07% of operating revenue, up from 7.04% in the previous period, reflecting a 1.03% increase[44]. - The company obtained 2 new patents during the reporting period, bringing the total to 62 patents[42]. - The company expanded its R&D team significantly, particularly with senior-level personnel, leading to increased salary and travel expenses[45]. - The company is actively developing GDI engine EMS, which is not yet mass-produced, indicating potential future market share growth[34]. - The company has developed an engine management system with independent intellectual property rights, successfully replacing some imported systems in certain markets[40]. - The company has completed over 170 optimization tasks for calibration data, contributing to improved vehicle performance and reduced after-sales PPM to below 50[48]. Operational Risks and Compliance - The company has outlined various operational risks and corresponding mitigation strategies in the report[4]. - The report includes a forward-looking statement risk declaration, indicating that future plans do not constitute a commitment to investors[7]. - The company is focused on maintaining compliance with the relevant regulations and standards set by the China Securities Regulatory Commission and the Shanghai Stock Exchange[12]. - The company confirmed that there are no issues with the authenticity and completeness of the semi-annual report[9]. - The company does not have any non-operational fund occupation by controlling shareholders or related parties[8]. - There are no violations of decision-making procedures regarding external guarantees[9]. Shareholder and Dividend Policies - The company plans to distribute a cash dividend of RMB 6.00 per 10 shares, totaling approximately RMB 30,960,000 based on a total share capital of 51,600,000 shares as of June 30, 2021[6]. - The company has not proposed any capital reserve transfer to increase share capital or bonus shares distribution[6]. - The company commits to distributing at least 30% of the average annual distributable profits over the last three years after going public[124]. - In cases where the company has no major investment plans, cash dividends should constitute at least 80% of the profit distribution during the mature stage[125]. - If the company has significant capital expenditure plans, cash dividends should be at least 40% during the mature stage[125]. - The board of directors will propose differentiated cash dividend policies based on the company's development stage and financial needs[125]. Market Position and Future Outlook - The company is a leading provider of automotive power electronic control systems, focusing on engine management systems and electric vehicle control systems[30]. - The implementation of the National VI emission standards starting July 1, 2021, is expected to positively impact the company's development of large displacement engine control systems[31]. - The introduction of Real Drive Emission (RDE) testing regulations in 2023 will require existing National VI models to be validated, benefiting companies with fast development cycles[32]. - The company has seen positive progress in customer development due to the exit of some multinational EMS companies from the Chinese market[34]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[170]. Financial Management and Fundraising - The company will strengthen the management of raised funds to improve efficiency and enhance profitability[121]. - The company has established a fundraising management system to ensure the proper and efficient use of raised funds[121]. - The total amount of raised funds is RMB 88,111.31 million, with RMB 16,669.10 million invested in the current year, representing 18.9% of the total raised funds[136]. - The project for the industrialization of the automotive power control system has achieved a cumulative investment of RMB 34,048.46 million, which is only 2.12% of the committed investment amount[136]. - The company has utilized RMB 67,000 million of idle raised funds for cash management, ensuring liquidity and safety in investments[137]. Corporate Governance and Compliance - The board of directors is committed to ensuring the accuracy and completeness of information disclosed to the China Securities Regulatory Commission and the Shanghai Stock Exchange, taking legal responsibility for any misleading statements[127]. - The company will ensure that any profits gained from unfulfilled commitments will be returned to the company within five working days[129]. - The company will communicate with minority shareholders through various channels to gather their opinions on profit distribution proposals[126]. - The company will take measures to protect investor interests and minimize losses in case of unfulfilled commitments[129]. - The company will ensure that any cash dividends distributed to individuals responsible for unfulfilled commitments may be deducted to cover compensation responsibilities[129].

Financial Performance - Operating revenue rose by 110.72% to CNY 199,893,947.21 compared to the same period last year[5] - Net profit attributable to shareholders increased by 137.23% to CNY 35,316,041.08 compared to the same period last year[5] - Basic earnings per share rose by 139.47% to CNY 0.91 compared to the same period last year[6] - The company's net profit for Q1 2021 was CNY 35,316,041.08, a significant increase from CNY 14,886,922.08 in Q1 2020, representing a growth of approximately 137.5%[21] - Operating income for Q1 2021 was CNY 39,559,337.55, compared to CNY 17,512,431.04 in the same period last year, indicating an increase of about 126.5%[21] - The total revenue from sales and services received in Q1 2021 was CNY 105,582,383.08, down from CNY 111,895,978.62 in Q1 2020, reflecting a decrease of approximately 5.5%[24] - The total comprehensive income for Q1 2021 was CNY 35,316,041.08, consistent with the net profit figure, indicating no additional comprehensive income items[21] Assets and Liabilities - Total assets increased by 115.24% to CNY 1,635,440,037.30 compared to the end of the previous year[5] - The total liabilities decreased to CNY 323,119,754.23 from CNY 363,918,632.99 at the end of 2020[18] - The company's total equity increased to CNY 1,312,320,283.07 from CNY 395,891,181.96 at the end of 2020[19] - Cash and cash equivalents surged by 988.81% to ¥304.44 million, primarily due to funds raised from the initial public offering[13] - The company's cash and cash equivalents increased to CNY 304,435,501.49 from CNY 27,960,506.79 at the end of 2020[17] Shareholder Information - The total number of shareholders reached 5,197 at the end of the reporting period[11] - The top shareholder, Wang Heping, holds 25.96% of the shares, totaling 13,397,369 shares[11] Research and Development - Research and development expenses accounted for 7.77% of operating revenue, a decrease of 3.03 percentage points compared to the previous year[6] - Research and development expenses increased by 51.50% to ¥15.53 million, driven by an expansion in R&D projects and personnel[14] - The company’s R&D expenses for Q1 2021 were CNY 15,526,970.53, an increase of 51.93% compared to CNY 10,249,112.37 in Q1 2020[19] Cash Flow - Net cash flow from operating activities decreased by 252.27% to -CNY 22,202,124.45 compared to the same period last year[5] - The net cash flow from operating activities for Q1 2021 was negative at CNY -22,202,124.45, compared to a positive CNY 14,580,404.43 in Q1 2020[24] - The company reported a significant increase in cash flow from financing activities, with a net cash flow of CNY 858,003,093.06 in Q1 2021, compared to a negative cash flow of CNY -1,190,962.09 in Q1 2020[24] Investment Activities - The company incurred cash outflows of CNY 564,103,054.48 for investment activities in Q1 2021, compared to CNY 2,127,390.35 in Q1 2020, indicating a substantial increase in investment spending[24] Future Outlook - The company plans to continue expanding its market presence and product offerings in the upcoming quarters[14]