Financial Performance - The company reported a total revenue of RMB 500 million for the first half of 2022, representing a year-on-year increase of 20%[12]. - The company's operating revenue for the first half of 2022 was CNY 360.66 million, a decrease of 15.02% compared to the same period last year[18]. - The net profit attributable to shareholders for the same period was CNY 58.52 million, down 26.00% year-on-year[18]. - The net profit after deducting non-recurring gains and losses was CNY 42.75 million, a decline of 38.68% compared to the previous year[18]. - The gross profit margin improved to 35%, up from 30% in the previous year, reflecting better cost management and pricing strategies[12]. - The company reported a significant increase in revenue for the first half of 2022, with a year-over-year growth of 12%[114]. - The net profit for the first half of 2022 was CNY 58,538,212.80, down 26.00% from CNY 79,078,163.82 in the first half of 2021[179]. - The total comprehensive income for the first half of 2022 was CNY 58,538,212.80, down from CNY 79,078,163.82 in the same period of 2021[180]. Research and Development - Research and development expenses increased by 30% to RMB 50 million, focusing on the development of advanced electric control systems[12]. - Research and development expenses surged by 149.93% to CNY 85.60 million, reflecting the company's commitment to innovation and talent acquisition[85]. - R&D investment accounted for 23.73% of operating revenue, up from 8.07% year-on-year, indicating a significant increase in focus on innovation[47]. - The number of R&D personnel increased from 428 to 598, leading to a 71.18% rise in R&D expenses from CNY 34.25 million to CNY 58.63 million[20]. - The company has developed a wide range of core control algorithms for pure electric vehicles, improving efficiency and reducing hardware costs[13]. - The company is committed to investing heavily in research and development for electric vehicle technologies, leveraging its existing customer base to enhance sales networks[28]. - The company has achieved significant revenue from technology development for hybrid vehicles, leveraging its core technologies[35]. Market Expansion and Strategy - The company expects a revenue growth forecast of 15% for the second half of 2022, driven by new product launches and market expansion strategies[12]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[12]. - The company plans to continue expanding its market presence and developing new products, particularly in the passenger vehicle and electric vehicle sectors[20]. - The company is focusing on the development of gasoline direct injection (GDI) engine EMS, although it has not yet reached mass production, indicating potential future growth in the mainstream passenger vehicle market[28]. - The company is considering strategic acquisitions to enhance its product offerings, with a budget of $100 million set aside for potential deals[114]. - The company is focusing on expanding its market presence through new product development and technological advancements in the automotive sector[51]. Risks and Challenges - The company has identified potential risks related to supply chain disruptions and is implementing measures to mitigate these risks[12]. - The company faces risks from the rapid growth of pure electric vehicles, which could potentially replace traditional gasoline vehicle EMS products[69]. - The company is addressing the lack of domestic production capabilities for critical components like chips and injectors, which poses a threat to its operations[75]. - The automotive industry faced a 6.6% year-over-year decline in total vehicle sales, totaling 12.06 million units in the first half of 2022, which could impact future orders[81]. Shareholder Commitments and Governance - The company reported a commitment to not transfer or delegate shares for 36 months post-IPO, ensuring compliance with lock-up agreements[108]. - Shareholders are restricted from selling more than 25% of their total shares annually during their tenure, with additional restrictions post-employment[109]. - The company will adhere to legal regulations regarding shareholding and share changes, ensuring integrity in shareholder obligations[109]. - The company commits to not reducing its shareholdings within 36 months from the date of its initial public offering, and any changes in shareholdings will be disclosed in advance[112]. - The company will ensure that any share reduction does not exceed 25% of the total shares held annually during the tenure of its executives[112]. - The company will maintain transparency by disclosing the reasons for share reduction, intended quantity, and future holding intentions[117]. Financial Position and Assets - The company's total assets increased by 3.25% to CNY 1.82 billion compared to the end of the previous year[20]. - The total equity attributable to shareholders rose to CNY 1,496,329,103.36 from CNY 1,406,422,595.56, an increase of about 6.39%[169]. - The company's cash and cash equivalents stood at CNY 111,203,109.06, down from CNY 114,681,579.08, a decline of approximately 4.31%[167]. - Inventory increased significantly to CNY 269,227,872.68 from CNY 172,573,410.04, representing a growth of about 55.93%[167]. - The total liabilities decreased to CNY 327,736,139.72 from CNY 360,198,600.02, indicating a reduction of about 8.94%[169]. Product Development and Technology - A new electric vehicle control unit is set to be launched in Q4 2022, anticipated to enhance performance and efficiency by 15%[12]. - The company provides engine management systems, pure electric vehicle power electronic control systems, hybrid vehicle power electronic control systems, and vehicle networking products T-BOX, along with related technical development and calibration services[29]. - The company has developed a range-extended electric vehicle (REEV) that utilizes advanced noise, vibration, and harshness (NVH) suppression technology, enhancing driving performance[39]. - The company has successfully implemented in-cylinder direct injection technology, which supports multiple injection strategies and significantly improves fuel economy and emissions[39]. - The company has developed a lightweight commercial vehicle motor and integrated electric control system, with multiple customer vehicle installations and winter calibration tests completed[54].

Financial Performance - The company's operating revenue for Q1 2022 was ¥170,947,044.33, representing a decrease of 14.48% compared to the same period last year[5]. - The net profit attributable to shareholders was ¥26,103,952.09, down 26.08% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥17,490,873.12, a decline of 49.78%[5]. - The basic earnings per share for the period was ¥0.51, a decrease of 43.96%[6]. - Total operating revenue for Q1 2022 was ¥170,947,044.33, a decrease of 14.5% compared to ¥199,893,947.21 in Q1 2021[18]. - Net profit for Q1 2022 was ¥26,103,952.09, a decline of 26.1% from ¥35,316,041.08 in Q1 2021[20]. - Earnings per share for Q1 2022 were ¥0.51, down from ¥0.91 in Q1 2021[20]. - The company achieved a profit before tax of ¥26,548,954.62 in Q1 2022, down from ¥39,636,623.68 in Q1 2021[19]. Research and Development - The total R&D investment amounted to ¥40,479,476.40, an increase of 160.70% compared to the previous year[6]. - R&D investment accounted for 23.68% of operating revenue, an increase of 15.91 percentage points[6]. - R&D expenses increased significantly to ¥40,479,476.40 in Q1 2022, compared to ¥15,526,970.53 in Q1 2021, reflecting a growth of 160.5%[19]. Assets and Liabilities - The company's total assets at the end of the period were ¥1,767,601,559.31, a slight increase of 0.06% from the end of the previous year[6]. - The total liabilities as of Q1 2022 were ¥320,435,324.84, a decrease from ¥360,198,600.02 in the previous year[19]. - Total current assets decreased from ¥1,606,048,829.04 to ¥1,545,045,777.39, a decline of about 3.81%[15]. - Total current liabilities decreased from ¥340,908,081.27 to ¥301,015,750.97, a decline of approximately 11.69%[16]. - The company reported a non-current asset total of ¥222,555,781.92, up from ¥160,572,366.54, an increase of about 38.63%[16]. - The total equity attributable to shareholders was ¥1,447,166,234.47, an increase from ¥1,406,422,595.56 in Q1 2021[19]. Cash Flow - The net cash flow from operating activities was ¥38,173,261.92, with no applicable comparison[6]. - Cash flow from operating activities for Q1 2022 was ¥38,173,261.92, a turnaround from a negative cash flow of -¥22,202,124.45 in Q1 2021[22]. - The company reported a total cash inflow from operating activities of ¥171,478,175.75 in Q1 2022, compared to ¥112,426,267.67 in Q1 2021[22]. - Net cash flow from investment activities was -31,391,986.08, indicating a decrease compared to the previous period[23]. - Total cash inflow from financing activities amounted to 905,732,494.00, reflecting strong capital absorption[23]. - Cash outflow from financing activities totaled 30,659,638.13, resulting in a net cash flow of -30,659,638.13 from financing activities[23]. - The ending balance of cash and cash equivalents was 90,410,892.91, down from 299,658,420.92 in the previous period[23]. - The company experienced a net increase in cash and cash equivalents of -23,878,362.29 during the reporting period[23]. - The initial balance of cash and cash equivalents was 114,289,255.20, showing a significant decrease in the ending balance[23]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 3,386[12]. - The largest shareholder, Wang Heping, holds 25.96% of shares, totaling 13,397,369 shares[12]. - The second-largest shareholder, Gong Benhe, holds 23.86% of shares, totaling 12,313,579 shares[12]. Other Information - The company has no significant new product or technology developments reported in the conference call[14]. - The company has not adopted the new accounting standards for the current year[23].

Financial Performance - The company's operating revenue for Q1 2022 was ¥170,947,044.33, representing a decrease of 14.48% compared to the same period last year[5] - The net profit attributable to shareholders was ¥39,675,582.16, an increase of 12.34% year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥31,062,503.19, down by 10.81% compared to the previous year[5] - Total operating revenue for Q1 2022 was ¥170,947,044.33, a decrease of 14.5% compared to ¥199,893,947.21 in Q1 2021[19] - Total operating costs for Q1 2022 were ¥142,457,841.44, down 13.0% from ¥163,753,274.24 in Q1 2021[19] - Gross profit for Q1 2022 was ¥28,489,202.89, representing a gross margin of 16.7%[20] - Net profit for Q1 2022 was ¥39,675,582.16, an increase of 12.2% from ¥35,316,041.08 in Q1 2021[21] - Earnings per share for Q1 2022 were ¥0.77 (basic) and ¥0.75 (diluted), compared to ¥0.91 for both in Q1 2021[21] Cash Flow and Investments - The net cash flow from operating activities was ¥38,173,261.92, with no applicable comparison[6] - Cash flow from operating activities for Q1 2022 was ¥38,173,261.92, a significant improvement from a negative cash flow of -¥22,202,124.45 in Q1 2021[23] - The company reported a net cash inflow from investment activities of ¥532,000,000.00 in Q1 2022[23] - Net cash inflow from investment activities totaled approximately $535.85 million, while cash outflow was about $567.24 million, resulting in a net cash flow of -$31.39 million[24] - The company received cash from financing activities amounting to $905.73 million, with net cash flow from financing activities at -$30.66 million[24] - The ending balance of cash and cash equivalents was $90.41 million, down from $299.66 million in the previous period[24] - The company reported a decrease in cash and cash equivalents by approximately $23.88 million during the quarter[24] - The initial cash and cash equivalents balance was $114.29 million, indicating a significant reduction in liquidity[24] Research and Development - The total R&D investment amounted to ¥26,527,320.09, which is an increase of 70.85% year-on-year[6] - R&D investment accounted for 15.52% of operating revenue, an increase of 7.75 percentage points compared to the previous year[6] - R&D expenses for Q1 2022 were ¥26,527,320.09, up 70.9% from ¥15,526,970.53 in Q1 2021[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,766,533,502.56, showing no significant change from the previous year[6] - Total current assets decreased to ¥1,545,045,777.39 from ¥1,606,048,829.04, a decline of about 3.8%[15] - Total non-current assets increased to ¥221,487,725.17 from ¥160,572,366.54, an increase of approximately 37.9%[16] - Total liabilities as of Q1 2022 were ¥320,435,324.84, a decrease from ¥360,198,600.02 in Q1 2021[20] - Total current liabilities decreased to ¥301,015,750.97 from ¥340,908,081.27, a decline of about 11.7%[16] - The company has no long-term borrowings reported in the current liabilities section[16] Shareholder Information - Total number of common shareholders at the end of the reporting period is 3,386[12] - The largest shareholder, Wang Heping, holds 25.96% of shares with 13,397,369 shares[12] - The report indicates no significant changes in the shareholder structure or any related party transactions[13] Other Financial Metrics - The weighted average return on equity was 2.78%, a decrease of 5.76 basis points year-on-year[6] - The company reported a non-recurring gain of ¥8,613,078.97 for the period[8] - The company experienced a decrease in accounts receivable financing by 41.58%, primarily due to an increase in bill collections during the reporting period[9] - Total assets slightly decreased to ¥1,766,533,502.56 from ¥1,766,621,195.58, a negligible decline[16] - The company reported a significant increase in inventory, rising to ¥215,645,535.44 from ¥172,573,410.04, an increase of approximately 24.9%[15]

Financial Performance - The company reported a standard unqualified audit opinion from Zhonghui Certified Public Accountants[5]. - The company's operating revenue for 2021 was CNY 834.68 million, representing a year-on-year increase of 9.48%[21]. - The net profit attributable to shareholders for 2021 was CNY 137.55 million, a decrease of 12.30% compared to the previous year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 113.29 million, down 24.02% year-on-year[21]. - The net cash flow from operating activities reached CNY 41.38 million, showing a significant increase of 566.53% compared to the previous year[21]. - The company's total assets at the end of 2021 were CNY 1,766.62 million, an increase of 132.51% year-on-year[21]. - The net assets attributable to shareholders at the end of 2021 were CNY 1,406.42 million, up 255.25% from the previous year[21]. - The basic earnings per share for 2021 were CNY 2.84, a decrease of 29.88% year-on-year[22]. - The gross profit margin for the main business was 31%, reflecting a slight increase of 2.18 percentage points year-on-year[118]. - The company achieved operating revenue of 834.68 million yuan, a year-on-year increase of 9.48%[111]. Research and Development - The company plans to expand its research and development efforts to support its growing operational scale and funding requirements[5]. - Research and development expenses accounted for 12.12% of operating revenue, an increase of 5.90 percentage points compared to the previous year[22]. - The company achieved a significant increase in R&D investment, totaling ¥10,116.74 million in the current year, up 113.38% from ¥4,741.18 million in the previous year[75]. - The company has developed proprietary engine management systems, contributing to the localization of automotive power electronics control systems and beginning to replace imports in certain markets[62]. - The company has developed an EMS software platform that includes core technologies for hardware control, contributing significantly to product sales revenue[63]. - The company has focused on enhancing electromagnetic interference resistance in its ECU hardware design, ensuring robust performance across various vehicle models[65]. - The company has developed multiple export projects, achieving compliance with Euro V regulations for light commercial vehicles and light passenger vehicles, with a supply production value of RMB 349.46 million[87]. - The company has established R&D centers in Beijing and Optics Valley to attract high-end talent and enhance its R&D capabilities[76]. - The company has made progress in various R&D projects, including the optimization of calibration data for wide oxygen sensors and electronic throttle valves[79]. Market and Industry Trends - The company is actively expanding its market presence, particularly in the electric vehicle sector, leveraging existing customer resources[35]. - The market share of new energy vehicles in China increased to 13.4%, indicating a shift from policy-driven to market-driven growth[47]. - The automotive electronic control system industry is characterized by high technical barriers and long industrial cycles, making it a capital and labor-intensive sector[48]. - The transition towards hybrid vehicles is driven by increasingly stringent fuel consumption and emission standards, as internal combustion engines alone will struggle to meet future regulations[45]. - The automotive industry is experiencing a shift from policy-driven to market-driven growth in the new energy vehicle sector, indicating a sustainable future for electric vehicles[60]. - The company is focusing on the integration of electric, connected, and intelligent technologies, aligning with national plans to enhance smart connected vehicle infrastructure and achieve higher levels of automation by 2035[61]. Corporate Governance - The board of directors has confirmed the authenticity, accuracy, and completeness of the annual report, with no significant omissions or misleading statements[4]. - There are no special arrangements for corporate governance applicable to the company[8]. - The company has established a governance structure that includes a board of directors and various committees to ensure effective operation and decision-making[146]. - The company has confirmed that it will not distribute cash dividends for the 2021 fiscal year, pending shareholder approval[184]. - The company has a training plan that includes systematic training for new employees and professional skills training[180]. - The company has established a comprehensive governance structure, including a strategic committee, nomination committee, compensation and assessment committee, and audit committee, to ensure effective decision-making[196]. Risks and Challenges - The company is currently not profitable and has not achieved profitability since its listing[4]. - The company has outlined various risks and corresponding countermeasures in the management discussion and analysis section of the report[4]. - The company faces risks from core technology leakage due to limited protection measures compared to multinational EMS manufacturers[98]. - The company is exposed to risks from the lack of core component supply chains, such as automotive-grade chips and injectors, which could hinder its competitiveness[103]. - The company faced risks related to global chip supply shortages, impacting procurement and potentially leading to performance declines[110]. Talent and Human Resources - The company has a diverse team of core technical personnel, with varying years of experience in the industry[156]. - The number of R&D personnel increased to 428, representing 70.16% of the total workforce, up from 66.05% in the previous year[90]. - R&D personnel compensation totaled RMB 57.13 million, with an average salary of RMB 15.18 million, reflecting a significant increase from the previous year's average of RMB 11.64 million[90]. - The company emphasizes the importance of talent development and plans to optimize personnel structure and enhance training programs to ensure sustainable human resource development[144]. Product Development and Innovation - The company is focusing on transitioning its products towards electrification and connectivity, investing heavily in R&D for GDI passenger vehicles, electric vehicle VCU and MCU, and hybrid vehicle control systems[23]. - The company has developed a new GPF regeneration control strategy to meet the National VI emission regulations, which includes modules for estimating particulate matter content and regeneration demand calculation[65]. - The company has successfully launched multiple models of range-extended electric vehicles, showcasing its commitment to hybrid technology[65]. - The company has developed multiple chip replacement solutions to address supply chain issues, ensuring continued production capabilities[81]. - The company has achieved a technological lead in dual-fuel engine management systems, addressing various operational challenges associated with gas and gasoline fuel[93]. Customer and Market Engagement - The company’s revenue from the top five customers accounted for 64.79% of total revenue, highlighting a high customer concentration risk[100]. - The company has established a technical service advantage by diagnosing engine control system issues quickly, enhancing customer service efficiency[92]. - The company plans to launch multiple new electric vehicle models in the second half of 2022, expanding its market presence[86].

Financial Performance - The company's operating revenue for Q3 2021 was ¥173,806,948.35, a decrease of 9.60% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2021 was ¥41,915,036.37, an increase of 15.61% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥33,386,137.91, reflecting a year-on-year increase of 1.94%[5]. - Total operating revenue for the first three quarters of 2021 reached ¥598,224,346.21, an increase from ¥512,828,505.04 in the same period of 2020, representing a growth of approximately 16.67%[23]. - Net profit for the first three quarters of 2021 was ¥120,993,200.19, compared to ¥103,309,175.31 in 2020, reflecting a growth of approximately 17.2%[24]. - Total comprehensive income for the period reached ¥120,993,200.19, an increase from ¥103,309,175.31 in the previous period[25]. - Basic and diluted earnings per share were both ¥2.56, compared to ¥2.67 in the previous period[25]. Assets and Liabilities - The total assets at the end of the reporting period reached ¥1,682,695,388.83, representing a 121.46% increase compared to the end of the previous year[6]. - Total assets as of the end of Q3 2021 were ¥1,682,695,388.83, compared to ¥759,809,814.95 at the end of Q3 2020, indicating a growth of approximately 121.5%[22]. - Total liabilities as of the end of Q3 2021 were ¥315,657,946.65, down from ¥363,918,632.99 in the same period of 2020, representing a decrease of about 13.2%[21]. - The company's total equity as of the end of Q3 2021 was ¥1,367,037,442.18, significantly up from ¥395,891,181.96 in Q3 2020, reflecting an increase of approximately 245%[22]. - The total debt-to-equity ratio is approximately 0.92, indicating a balanced approach to leveraging and equity financing[33]. Cash Flow - The cash flow from operating activities showed a net outflow of ¥5,206,207.37, a decline of 83.11% compared to the previous year[11]. - Net cash flow from operating activities was -¥5,206,207.37, an improvement from -¥30,826,837.54 in the previous period[27]. - Cash inflow from investment activities totaled ¥1,662,934,087.76, with cash outflow of ¥2,447,840,089.58, resulting in a net cash flow of -¥784,906,001.82[29]. - Cash flow from financing activities generated a net inflow of ¥842,571,585.35, compared to ¥40,117,439.33 in the previous period[29]. - The company reported cash and cash equivalents at the end of the period amounting to ¥66,565,273.93, up from ¥11,086,006.27 at the end of the previous period[29]. - The company’s cash and cash equivalents increased to ¥164,643,836.27 in Q3 2021 from ¥128,131,572.58 in Q3 2020, marking a growth of about 28.5%[22]. Research and Development - Research and development expenses for Q3 2021 totaled ¥18,814,069.30, which accounted for 10.82% of operating revenue, an increase of 2.06 percentage points year-on-year[6]. - Research and development expenses for the first three quarters of 2021 amounted to ¥53,063,929.36, an increase from ¥34,917,464.71 in 2020, showing a rise of about 52%[23]. - The company plans to continue increasing R&D investment in response to business expansion and the growth of R&D projects[11]. Shareholder Information - The company reported a total of 4,285 common shareholders at the end of the reporting period[13]. - The top shareholder, Wang Heping, holds 13,397,369 shares, representing 25.96% of total shares[13]. - The company plans to grant 239,825 restricted stocks under the 2021 incentive plan, accounting for 4.65% of the total share capital[16]. - The first grant of 191,860 restricted stocks will be issued at a price of 36.45 RMB per share[17]. - The incentive plan involves 221 employees, representing 43.94% of the total workforce as of June 30, 2021[16]. Other Financial Metrics - The company reported non-recurring gains of ¥8,528,898.46 for the reporting period, down from ¥17,895,798.62 in the previous year[10]. - The basic earnings per share for Q3 2021 was ¥0.81, a decrease of 13.30% compared to the same period last year[6]. - Accounts receivable decreased to 177,325,439.02 RMB from 240,884,949.95 RMB in the previous year[19]. - The company’s receivables financing increased to 136,485,884.63 RMB from 78,890,498.78 RMB year-over-year[19]. - The company recorded a net increase in cash flow from operating activities of ¥347,247,021.38, against cash outflows of ¥352,453,228.75[27].

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]