Financial Performance - The company has not achieved profitability since its listing, indicating ongoing financial challenges [4]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion CNY for the fiscal year, representing a 15% year-over-year growth [20]. - The company's operating revenue for 2021 reached ¥818,874,970.50, representing a year-on-year increase of 43.10% [30]. - Net profit attributable to shareholders increased by 44.76% to ¥126,744,948.12, while the net profit after deducting non-recurring gains and losses rose by 37.20% to ¥113,746,436.98 [33]. - The company's total assets grew by 17.95% to ¥1,268,557,476.93, and net assets attributable to shareholders increased by 13.53% to ¥866,325,597.34 [30]. - The basic earnings per share rose to ¥0.70, a 7.69% increase compared to the previous year [30]. - The company's cash flow from operating activities decreased by 44.22% to CNY 30.07 million from CNY 53.91 million in the previous year [170]. - The company's total operating revenue for 2021 reached approximately ¥789.74 million, representing a year-on-year increase of 40.94% [174]. Dividend and Capital Management - The company plans to distribute a cash dividend of 1.76 RMB per 10 shares, totaling approximately 31.68 million RMB, which represents 25% of the net profit attributable to shareholders for 2021 [6]. - The company has not proposed any capital reserve transfer to increase share capital or bonus shares for 2021 [6]. - The company does not have any non-operating fund occupation by controlling shareholders or related parties [7]. - There are no violations of decision-making procedures regarding external guarantees [9]. Research and Development - The company is investing in R&D, allocating 10% of its revenue towards developing new technologies and products [20]. - Research and development expenses accounted for 9.28% of operating revenue, slightly up from 9.21% in 2020 [30]. - The total R&D investment for the year reached ¥75,970,993.96, an increase of 44.09% compared to ¥52,723,012.06 in the previous year [121]. - The company has developed high-frequency injection control technology and various motion control algorithms, establishing a strong technical position in the industry [141]. - The company has obtained a total of 124 authorized patents, including 28 invention patents, enhancing its competitive edge in the industry [44]. Market Expansion and Strategy - The company has provided guidance for the next fiscal year, projecting a revenue growth of 10% to 12% [20]. - Market expansion plans include entering two new international markets by Q3 2022, aiming for a 5% market share in each [20]. - The company is exploring potential acquisitions to enhance its product offerings and market presence, with a budget of 300 million CNY allocated for this purpose [20]. - The company is actively pursuing market expansion strategies through the introduction of new products and technologies, aiming to enhance its competitive edge in the industry [106][109]. Operational Efficiency - The gross margin improved to 35%, up from 30% in the previous year, reflecting better operational efficiency [20]. - The company has implemented cost-cutting measures that are projected to save approximately 50 million CNY annually [20]. - The company has maintained a stable cost structure, with direct materials accounting for 88.11% of total costs [181]. - The direct material costs as a percentage of operating costs decreased from 86.86% in 2020 to 84.46% in 2021, highlighting potential improvements in cost management [154]. Risks and Governance - The report includes a detailed discussion of various risks, including core competitiveness, operational, financial, industry, and macroeconomic risks [4]. - The company has confirmed that all board members attended the board meeting, ensuring governance compliance [5]. - The report does not indicate any special arrangements for corporate governance [9]. - The company faced risks from high market concentration, with foreign brands holding a significant market share in the low-voltage inverter and servo system sectors [164]. Product Development and Innovation - The company has developed a unique IGBT control method that achieves reliable control across multiple voltage levels (220V to 1140V) and current ratings (3A to 1200A) [106]. - The company has filed several patents for new technologies, including methods for motor angle error correction and speed control, indicating ongoing innovation [100]. - The company is focusing on expanding its product line, with new products such as AC series inverters and servo drivers being developed [100]. - The company has launched new servo system products, including the V7E series servo motors and SD710 and SD700-NA servo drives, contributing to new revenue growth [45]. Customer and Market Insights - User data indicates a growth in active users, reaching 500,000, which is a 25% increase compared to the previous year [20]. - The company's overseas product sales revenue reached 71.36 million yuan in 2021, representing 9.04% of total operating income, with plans for gradual expansion in international markets [155]. - The top five customers contributed 18.53% of the total annual sales, with no significant reliance on any single customer [186]. Financial Health and Liabilities - Accounts receivable increased by 47.54% to 227.68 million yuan at the end of the reporting period, necessitating strict management to mitigate potential bad debt risks [160]. - The company's total amount of other current liabilities increased by 64.77% to 155,913,157.82 RMB, mainly due to business growth leading to the recognition of unexpired bank acceptance bills [200]. - The company’s cash management strategy involved purchasing structured deposits and large bank certificates of deposit with raised funds from the previous year [195].

Financial Performance - The company's operating revenue for Q3 2021 was ¥201,465,837.71, representing a year-over-year increase of 28.24%[5] - The net profit attributable to shareholders for Q3 2021 was ¥34,476,515.52, reflecting a 47.67% increase compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥28,067,865.36, up by 29.79% year-over-year[5] - Total operating revenue for Q3 2021 reached ¥615,911,161.47, a significant increase of 47% compared to ¥419,294,553.50 in Q3 2020[32] - Net profit for Q3 2021 was ¥100,477,556.45, compared to ¥73,964,805.99 in Q3 2020, representing a growth of approximately 36%[35] - The company’s total comprehensive income attributable to shareholders was ¥100,480,677.53, compared to ¥74,761,547.48 in Q3 2020, showing an increase of 34%[38] Assets and Liabilities - The total assets at the end of Q3 2021 amounted to ¥1,241,609,832.17, a 15.44% increase from the end of the previous year[7] - The total assets as of Q3 2021 were ¥1,241,609,832.17, compared to ¥1,075,519,515.59 in Q3 2020, showing an increase of 15%[32] - Total liabilities increased to ¥399,269,492.16 in Q3 2021 from ¥312,449,853.11 in Q3 2020, marking a rise of 28%[32] - The equity attributable to shareholders of the parent company reached ¥841,726,993.28, up from ¥763,069,662.48 in Q3 2020, reflecting a growth of 10%[32] Research and Development - The company's R&D investment for Q3 2021 was ¥18,993,273.25, which accounted for 9.43% of operating revenue, a decrease of 1.58 percentage points year-over-year[7] - Research and development expenses for the year-to-date reached CNY 51.59 million, a 41.37% increase from the previous year, with 294 R&D personnel, representing 30.28% of total staff[23] - The company added 22 new patents (including 9 invention patents) during the reporting period, bringing the total to 119 valid patents (27 of which are invention patents)[23] - Research and development expenses in Q3 2021 amounted to ¥51,592,644.77, an increase from ¥36,495,349.16 in Q3 2020, indicating a 41% rise[35] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥12,171,854.54, indicating a negative cash flow situation[5] - Operating cash inflow for the first three quarters of 2021 was CNY 304,475,413.04, an increase from CNY 225,465,915.07 in the previous year, representing a growth of approximately 35%[41] - Net cash flow from operating activities for the first three quarters of 2021 was negative CNY 12,171,854.54, a decline from positive CNY 33,823,349.92 in the same period of 2020[41] - Cash inflow from investment activities in the third quarter of 2021 was CNY 443,936,855.21, significantly higher than CNY 198,588,816.66 in the previous year[45] - Net cash flow from investment activities for the third quarter of 2021 was negative CNY 363,100,671.47, compared to positive CNY 4,561,392.31 in the same period of 2020[45] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 6,150, with the largest shareholder holding 69.44% of the shares[15] Revenue Breakdown - For the first nine months of 2021, the company achieved operating revenue of CNY 615.91 million, a year-on-year increase of 46.89% driven by sales growth in frequency converters, servo systems, and control systems[22] - Main business revenue for the same period was CNY 596.64 million, accounting for 96.87% of total revenue, with domestic revenue at CNY 544.91 million (up 45.36%) and overseas revenue at CNY 51.73 million (up 44.43%) compared to the previous year[22] - The company reported revenue from general products of CNY 163.22 million (up 23.00%), industry-specific machinery products of CNY 288.82 million (up 41.25%), and servo systems and control systems of CNY 141.28 million (up 96.83%) year-on-year[22] Current Assets - As of September 30, 2021, the company's total current assets were CNY 952.43 million, slightly down from CNY 962.72 million at the end of 2020[27] - Cash and cash equivalents decreased to CNY 91.14 million from CNY 518.91 million at the end of 2020[27] - Accounts receivable increased to CNY 261.61 million from CNY 143.77 million year-on-year[27] - Inventory rose to CNY 221.49 million, up from CNY 147.21 million at the end of 2020[27] Market Strategy - The company attributed the revenue growth to increased sales of frequency converters, servo systems, and control systems, as well as active development of new products and expansion into overseas markets[11] - The company continues to focus on expanding overseas markets and developing new products to sustain revenue growth[22]

Financial Performance - The company reported a revenue of RMB 500 million for the first half of 2021, representing a year-on-year increase of 20%[2] - The company has set a revenue guidance of RMB 1.2 billion for the full year 2021, indicating a growth target of 25%[2] - The company's operating revenue for the first half of 2021 was CNY 414,445,323.76, representing a year-on-year increase of 58.07%[23] - The net profit attributable to shareholders for the same period was CNY 66,137,694.20, an increase of 30.66% compared to the previous year[24] - The revenue from industry-specific products reached CNY 193,920,000, marking a growth of 62.20% year-on-year[23] - The revenue from servo systems and control systems surged by 116.31% to CNY 97,761,000[23] - The company reported a total revenue of approximately 107.59 million RMB for the first half of 2021, with a gross profit of about 76.18 million RMB, indicating a significant increase in performance compared to the previous period[89] - In the first half of 2021, the company achieved total operating revenue of CNY 414.45 million, a year-on-year increase of 58.07%[103] - The company's net profit attributable to shareholders reached CNY 66.14 million, reflecting a year-on-year growth of 30.66%[103] User Growth - User data showed an increase in active users by 15% compared to the same period last year, reaching 1.2 million active users[2] - User data showed a growth of 15% in active users, bringing the total to 3 million users[176] Research and Development - Research and development expenses increased by 30% to RMB 50 million, focusing on IGBT technology advancements[2] - The R&D investment as a percentage of operating revenue was 7.87%, up by 0.55 percentage points from the previous year[23] - The company has been recognized as a high-tech enterprise and included in the list of "Little Giant" enterprises by the Ministry of Industry and Information Technology, indicating its strong R&D capabilities[34] - The company maintains a strong R&D effort, continuously launching new products with enhanced functionality and quality[34] - Research and development investment totaled ¥32,599,371.52, representing a 69.79% increase compared to the previous period, and accounted for 7.87% of operating revenue[78] - R&D expenses rose by 69.79% to ¥32,599,371.52, driven by an increase in R&D personnel and direct project investments[126] - The number of R&D personnel increased to 251, representing 25.93% of the total workforce, up from 20.75% in the previous period[93] - The average salary for R&D personnel rose to 10.75 thousand RMB, compared to 9.52 thousand RMB in the previous period, reflecting the company's investment in talent[93] Market Expansion - The company is expanding its market presence in Southeast Asia, with plans to establish two new offices by Q4 2021[2] - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by the end of 2022[176] - The company plans to gradually expand its overseas market, with foreign sales revenue expected to increase in the next three years[124] Product Development - New product launches included a state-of-the-art PLC system, which is expected to contribute an additional RMB 100 million in revenue by the end of the year[2] - New product launches are anticipated to contribute an additional 10% to revenue, with two major products set to release in Q3 2021[176] - The company is focusing on innovation and has a robust pipeline of new products and technologies aimed at enhancing operational efficiency and market reach[60] Financial Guidance - The company expects a revenue growth guidance of 20% for the next fiscal year, projecting revenues to reach approximately 1.44 billion RMB[176] Strategic Initiatives - The company plans to pursue strategic acquisitions to enhance its product portfolio, with a budget of 500 million RMB allocated for potential targets[176] - A new marketing strategy is being implemented, aiming to increase brand awareness by 25% over the next year[176] - The company plans to enhance sales revenue and future earnings through technology research and product innovation, marketing system improvement, and operational efficiency enhancement[183] Risk Management - The company has no significant risks impacting operations during the reporting period, ensuring stable performance[5] - The company faces risks related to the high concentration of the industrial automation control product market, with foreign brands holding significant market shares[117] - The company is at risk of core technology leakage and talent loss due to increasing competition for skilled professionals in the industrial automation sector[112] - The company is exposed to risks from fluctuations in raw material prices, with direct material costs accounting for 85.83% of operating costs in the first half of 2021[114] Corporate Governance - The board of directors confirmed that all members attended the meeting, ensuring governance compliance[5] - The company has established a school-enterprise cooperation system to enhance talent cultivation and training, supporting its development[108] Environmental Compliance - The company is not classified as a key pollutant discharge unit and has implemented measures to minimize environmental impact[155] - The company collects and properly disposes of hazardous waste in compliance with national regulations[157] - The company’s wastewater treatment meets the Grade 3 standard of the "Comprehensive Discharge Standard for Wastewater" (GB8978-1996)[156] - The company’s air pollution control measures comply with the second-level standard of DB44/27-2001, minimizing impact on the surrounding environment[156] Intellectual Property - The company holds multiple patents related to motor control technologies, enhancing its competitive edge in the market[60] - The company has obtained a total of 108 authorized patents and 55 software copyrights as of June 30, 2021, with 9 new patents granted in the first half of 2021[72] - The company has filed for 16 new patents during the reporting period, with 10 patents granted, bringing the cumulative total to 202 applications and 163 grants[73] - The company is committed to maintaining a robust intellectual property protection system and will apply for patents for core technological achievements[183] Shareholder Commitments - The company has committed to maintaining a stable stock price for three years post-IPO, with specific measures outlined in their stabilization plan[180] - The company commits to compensating investors for any losses incurred due to false statements or omissions in the prospectus, as per legal obligations[196] - The company has a long-term commitment to ensure the accuracy and completeness of the prospectus, taking legal responsibility for any misleading information[197]

Financial Performance - Net profit attributable to shareholders increased by 114.67% year-on-year, amounting to ¥21,240,625.53, driven by increased operating income[12] - Operating income for the period was ¥168,811,287.38, representing a significant increase of 119.76% compared to the same period last year[12] - Basic and diluted earnings per share rose by 71.43% to ¥0.12, reflecting the growth in net profit attributable to shareholders[15] - The company reported a net profit excluding non-recurring gains and losses of ¥19,349,918.53, an increase of 113.53% year-on-year[15] - Net profit for Q1 2021 reached ¥21,240,625.53, an increase of 114.67% compared to ¥9,894,621.54 in Q1 2020, primarily due to increased operating income and profit growth[29] - Total operating revenue for Q1 2021 reached ¥168,811,287.38, a significant increase of 120% compared to ¥76,814,695.96 in Q1 2020[51] - The company's total revenue for Q1 2021 was approximately CNY 166.98 million, a significant increase from CNY 77.18 million in Q1 2020, representing a growth of 116.5%[56] - The net profit for Q1 2021 reached CNY 20.57 million, compared to CNY 10.27 million in Q1 2020, indicating an increase of 100.5%[58] Cash Flow - The net cash flow from operating activities was negative at -¥21,100,864.36, compared to -¥6,464,353.05 in the same period last year[12] - Cash flow from operating activities showed a net outflow of ¥21,100,864.36, a significant increase in payments to suppliers and personnel compared to ¥6,464,353.05 in Q1 2020[29] - Cash flow from investing activities resulted in a net outflow of ¥386,062,207.23, primarily due to cash management of raised funds from 2020[29] - Cash flow from financing activities also showed a net outflow of ¥26,110,358.33, mainly due to repayment of bank loans and payment of IPO intermediary service fees[29] - Operating cash inflows totaled $73,704,655.85, a significant increase from $43,111,270.92 in the previous period, reflecting a growth of approximately 70.9%[62] - Operating cash outflows amounted to $94,805,520.21, compared to $49,575,623.97 previously, indicating an increase of about 91.1%[62] - Net cash flow from investment activities was -$386,162,207.23, compared to a positive flow of $12,094,115.18 in the previous period[68] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,114,478,582.24, an increase of 3.62% compared to the end of the previous year[12] - Total current assets decreased to ¥842,565,880.98 from ¥962,723,228.05 at the end of 2020, with cash and cash equivalents significantly reduced[35] - Total liabilities increased to ¥330,391,016.88 from ¥312,449,853.11, indicating a rise in financial obligations[40] - Shareholders' equity increased to ¥784,087,565.36 from ¥763,069,662.48, reflecting retained earnings growth[40] - Total liabilities increased to ¥329,981,018.57 from ¥312,229,123.14, indicating a growth of approximately 6%[45] Research and Development - The proportion of R&D investment to operating income decreased to 9.42%, down by 0.6 percentage points from the previous year[12] - Research and development expenses rose by 106.70% to ¥15,907,258.49 from ¥7,695,783.21, reflecting increased investment in R&D[26] - Research and development expenses in Q1 2021 amounted to ¥15,907,258.49, nearly double the ¥7,695,783.21 spent in Q1 2020[51] - Research and development expenses for Q1 2021 amounted to CNY 15.91 million, which is a 106.5% increase from CNY 7.70 million in Q1 2020[56] Shareholder Information - The total number of shareholders at the end of the reporting period was 9,222[17] - The largest shareholder, Shenzhen Weichuang Electric Co., Ltd., held 69.44% of the shares[17] Inventory and Receivables - Accounts receivable increased by 32.40% to ¥190,342,111.64 from ¥143,767,535.11, driven by growth in operating revenue[23] - Inventory increased by 30.91% to ¥192,715,687.38 from ¥147,213,150.39, due to higher material reserves and finished goods[23] - Accounts receivable increased to ¥190,342,111.64 from ¥143,767,535.11, indicating a rise in credit sales[35] - Inventory levels rose to ¥192,715,687.38 from ¥147,213,150.39, reflecting increased stock levels[35]

Financial Performance - The company's operating revenue for 2020 was ¥572,230,257.90, an increase of 28.24% compared to ¥446,235,472.01 in 2019[31]. - The net profit attributable to shareholders for 2020 was ¥87,555,462.28, representing a 52.13% increase from ¥57,553,819.08 in 2019[31]. - The net profit after deducting non-recurring gains and losses was ¥82,903,426.23, up 39.49% from ¥59,431,751.52 in 2019[31]. - The company's total assets at the end of 2020 were ¥1,075,519,515.59, a 138.25% increase from ¥451,417,565.64 at the end of 2019[31]. - The net assets attributable to shareholders increased by 187.47% to ¥763,069,662.48 from ¥265,440,643.53 in 2019[31]. - Basic earnings per share for 2020 were ¥0.65, a 51.16% increase from ¥0.43 in 2019[32]. - The cash flow from operating activities for 2020 was ¥53,912,150.30, a decrease of 23.90% compared to ¥70,842,023.90 in 2019[31]. - The company reported a total net cash flow from operating activities of CNY 20.09 million in Q4 2020, showing a positive cash flow trend[36]. - The company’s overseas product sales in 2020 were CNY 4,799.04 million, accounting for 8.56% of total revenue[160]. Research and Development - The total R&D investment for the year reached ¥52,723,012.06, an increase of 22.74% compared to the previous year[107]. - R&D investment accounted for 9.21% of total revenue, slightly down from 9.63% in the previous year[107]. - The company has a strong emphasis on R&D, with numerous patents granted and pending, indicating a commitment to innovation and technological advancement[94]. - The company has filed for 21 new patent applications in the reporting period, with a total of 190 applications and 157 granted patents[101]. - The R&D personnel count increased to 222, representing 25.66% of the total workforce, compared to 157 and 24.23% in the previous period[127]. Market Position and Strategy - The company focuses on the development, procurement, production, and sales of industrial automation control products, including frequency converters and servo systems[52]. - The company aims to enhance its brand recognition and market share through continuous technological innovation and product development[86]. - The company is recognized as a high-tech enterprise and has received various accolades, including being listed as a "specialized and innovative small giant" in Jiangsu Province for 2020[45]. - The company has established a marketing network with 146 signed distributors and has set up a subsidiary in India, enhancing its market coverage and brand influence[133]. - The company aims to achieve a high-performance, lean production system to ensure rapid delivery of high-quality products[132]. Risk Management and Compliance - The company has disclosed various risk factors, including core competitiveness, operational, industry, and macroeconomic risks, in the report[5]. - The company has no non-operating fund occupation by controlling shareholders or related parties, indicating financial integrity[8]. - The company has not violated decision-making procedures for external guarantees, maintaining regulatory compliance[8]. - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute substantive commitments to investors, highlighting investment risks[8]. - The management team has extensive experience in the automation industry, contributing to the company's strategic decision-making and operational efficiency[139]. Product Development and Innovation - The company has developed core technologies including V/F scalar control technology and vector control technology, which support various types of motors and provide adaptive load control, with a wide speed range and high low-frequency torque[91]. - The company has made significant advancements in motor control technologies, including high-frequency injection control and motor parameter learning identification technology, which improves performance and reliability[92]. - The company has introduced a new product line, including the V5_MC104 and VS300, which utilize advanced control technologies[94]. - The company launched several new products, including a high-speed motor driver and an integrated hydraulic servo system, which received positive customer feedback[140]. - The company is focusing on differentiated strategies in niche markets, particularly in industries like hoisting, rail transit, and photovoltaic water supply[86]. Financial Management - The financial expenses increased by 52.37% due to exchange losses from fluctuations in the USD to CNY exchange rate[164]. - Direct material costs represented 86.86% of operating costs in 2020, indicating potential risks from raw material price fluctuations[150]. - The company reported a 123.41% increase in inventory levels compared to the previous year, attributed to an increase in orders[176]. - The top five customers contributed 14.92% of total annual sales, with the largest customer accounting for 6.49%[180]. - The top five suppliers accounted for 26.74% of total annual purchases, with the largest supplier contributing 7.84%[183].