Financial Performance - The net profit attributable to the parent company for 2021 was CNY 68,829,391.15, with a cash dividend of CNY 19,994,146.80 distributed, representing 29.05% of the annual net profit [5]. - The company achieved operating revenue of CNY 550,636,072.24 in 2021, representing a year-on-year increase of 66.04% [22]. - Net profit attributable to shareholders reached CNY 68,829,391.15, a significant increase of 158.39% compared to the previous year [22]. - The net profit after deducting non-recurring gains and losses was CNY 42,975,123.52, up 87.23% year-on-year, driven by full order intake and improved production capacity [22]. - Total assets at the end of 2021 amounted to CNY 1,280,714,866.30, an increase of 201.49% from the beginning of the year [24]. - Shareholders' equity attributable to the parent company increased by 279.66% to CNY 876,502,937.20 [24]. - The basic earnings per share rose to CNY 0.84, reflecting a year-on-year growth of 121.05% [23]. - The company reported a negative net cash flow from operating activities of CNY -74,074,929.28, a decrease of 1,794.88% year-on-year due to increased cash payments for raw materials [25]. Operational Strategy - The company plans to increase its total share capital from 98,493,334 shares to 137,890,668 shares by distributing 39,397,334 shares to shareholders at a ratio of 4 shares for every 10 shares held [6]. - The company plans to continue expanding its market presence and enhancing production capabilities to meet growing demand [22]. - The company has maintained a strong financial position, supported by successful fundraising and operational profit growth [24]. - The company is focused on becoming a leading provider of power semiconductor solutions in China, with strategic investments in product development, capacity enhancement, market expansion, and talent acquisition [108]. - The company is accelerating the construction of a new power semiconductor industrial base, aiming for rapid deployment and operational readiness [109]. Research and Development - Research and development expenses accounted for 6.88% of operating revenue, slightly down from 6.94% in the previous year [23]. - The company invested a total of 126.55 million RMB in projects, including the "New Power Semiconductor Device Industrial Base Project" and "R&D Center Construction Project" [35]. - The company has focused on enhancing its independent innovation capabilities and R&D levels to maintain its leading position in products and technologies [38]. - The company has established a customer demand-oriented R&D system, with a structured process including project initiation, product design, trial production, and mass production [41]. - R&D expenses increased by 64.74% year-on-year, totaling approximately ¥37.90 million, driven by the orderly advancement of ongoing projects [58][59]. Market Position and Growth - The power semiconductor industry is experiencing stable growth, driven by applications in electric vehicles, renewable energy, and smart grids, with significant market opportunities arising from the "carbon neutrality" strategy [44]. - The company has established strategic collaborations with major clients to enhance product competitiveness and market presence [35]. - The company’s marketing strategy combines direct sales and partnerships with experienced distributors to expand market share [43]. - The company is focusing on the electric vehicle market by providing automotive-grade IGBT modules and SiC modules to multiple vehicle manufacturers [113]. - The company is expanding its market presence in renewable energy sectors, particularly in photovoltaic and wind power [114]. Governance and Compliance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties [8]. - The company has not violated any decision-making procedures regarding external guarantees [8]. - The company has not faced any issues with a majority of directors being unable to guarantee the authenticity of the annual report [8]. - The company has established a comprehensive evaluation mechanism for senior management, linking their compensation to company performance and strategic execution [151]. - The company has implemented internal control systems in accordance with relevant laws and regulations, enhancing governance and operational efficiency [152]. Shareholder Relations - The company has confirmed that its cash dividend policy is clear and complies with the company's articles of association and shareholder resolutions [150]. - The controlling shareholder committed to not transferring or entrusting the management of shares for 36 months from the date of the company's stock listing [181]. - The company will ensure that any unfulfilled commitments by shareholders will result in a prohibition on share reduction for 6 months, with any gains returned to the company [181]. - The company will face legal liabilities for any losses incurred by investors due to non-compliance with lock-up commitments [187]. - The company has a lock-up period of 12 months for shareholders, during which they cannot transfer or entrust their shares to others [196]. Employee and Talent Management - The total number of employees in the company and its main subsidiaries is 497, with 294 in production, 29 in sales, 107 in technology, 7 in finance, and 60 in administration [145]. - The company has established a complete human resources management system, focusing on employee safety and health, and enhancing communication channels to improve cohesion and achieve mutual growth with employees [168]. - The company has implemented a comprehensive procurement management system to ensure integrity in operations and resist commercial bribery, promoting sustainable and healthy development [171]. - The company has a performance management system that aligns individual and team goals with organizational objectives, enhancing team cohesion through various incentive mechanisms [168]. - The company has committed to protecting employee rights by adhering to labor laws and providing timely social insurance and benefits [168].

Financial Performance - The company's operating revenue for Q1 2022 was ¥139,993,013.88, representing a year-on-year increase of 34.17%[5] - The net profit attributable to shareholders decreased by 26.13% to ¥12,218,710.20 compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥10,576,136.53, an increase of 2.11% year-on-year[5] - Basic earnings per share decreased by 46.40% to ¥0.12[6] - Total operating revenue for Q1 2022 was ¥139,993,013.88, a 34.2% increase from ¥104,337,184.40 in Q1 2021[21] - Net profit for Q1 2022 was ¥12,218,710.20, a decrease of 24.0% compared to ¥16,084,785.81 in Q1 2021[22] - The company reported a total comprehensive income of ¥12,218,710.20 for Q1 2022, down from ¥16,084,785.81 in Q1 2021[22] Research and Development - Research and development expenses totaled ¥11,936,146.61, up 101.74% year-on-year, accounting for 8.53% of operating revenue, an increase of 2.86 percentage points[6][10] - Research and development expenses increased to ¥11,936,146.61 in Q1 2022, up 101.5% from ¥5,916,665.58 in Q1 2021[21] Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥3,664,450.59, indicating cash flow challenges despite increased transaction volumes[11] - Cash flow from operating activities was negative at -¥3,664,450.59 in Q1 2022, an improvement from -¥19,788,638.51 in Q1 2021[24] - Cash and cash equivalents at the end of Q1 2022 totaled ¥425,906,569.02, compared to ¥13,957,529.97 at the end of Q1 2021[25] - As of March 31, 2022, the company's cash and cash equivalents amounted to ¥425,906,569.02, an increase from ¥296,275,510.58 on December 31, 2021, representing a growth of approximately 43.6%[17] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,264,173,257.41, a decrease of 1.29% from the end of the previous year[6] - The total current assets decreased to ¥887,582,645.30 from ¥936,549,105.82, reflecting a decline of about 5.2%[17] - The company's total liabilities decreased to ¥375,451,610.01 from ¥404,211,929.10, indicating a reduction of approximately 7.1%[19] - The total equity attributable to shareholders increased to ¥888,721,647.40 from ¥876,502,937.20, showing a growth of about 1.5%[19] - The company's accounts receivable decreased to ¥131,893,257.37 from ¥177,297,089.10, a decline of approximately 25.6%[17] - Inventory increased to ¥204,278,587.26 from ¥142,646,183.88, representing a growth of about 43.3%[17] - Short-term borrowings rose to ¥75,291,203.60 from ¥38,361,122.21, an increase of approximately 96.4%[19] - The company reported a total non-current asset of ¥376,590,612.11, up from ¥344,165,760.48, indicating an increase of approximately 9.5%[18] Shareholder Information - The company reported a total of 5,779 common shareholders at the end of the reporting period[13] - The top shareholder, Zhao Shanqi, holds 17,524,600 shares, accounting for 17.79% of the total shares[13]

Financial Performance - The net profit attributable to the parent company for 2021 was CNY 68,829,391.15, with a cash dividend of CNY 19,994,146.80 distributed, accounting for 29.05% of the annual net profit[5]. - The company achieved operating revenue of CNY 550,636,072.24 in 2021, representing a year-on-year increase of 66.04%[22]. - Net profit attributable to shareholders reached CNY 68,829,391.15, up 158.39% compared to the previous year[22]. - The net profit after deducting non-recurring gains and losses was CNY 42,975,123.52, an increase of 87.23% year-on-year[22]. - Total assets at the end of 2021 were CNY 1,280,714,866.30, a 201.49% increase from the beginning of the year[24]. - Shareholders' equity attributable to the parent company increased by 279.66% to CNY 876,502,937.20[24]. - The basic earnings per share rose to CNY 0.84, reflecting a year-on-year growth of 121.05%[23]. - The cash flow from operating activities showed a net outflow of CNY 74,074,929.28, a decrease of 1,794.88% compared to the previous year[25]. Operational Developments - The company plans to increase its total share capital from 98,493,334 shares to 137,890,668 shares by distributing 4 additional shares for every 10 shares held, resulting in an increase of 39,397,334 shares[6]. - The company reported a strong order backlog and improved overall production capacity, contributing to revenue and profit growth[22]. - The company plans to continue expanding its market presence and investing in new product development[22]. - The company has established strategic collaborations with major clients to enhance product competitiveness and market presence[35]. - The company has implemented project management in product development, resulting in improved completion rates and quality control[37]. Research and Development - Research and development expenses accounted for 6.88% of operating revenue, slightly down from 6.94% in the previous year[23]. - The company’s R&D efforts have focused on high-tech products in key application areas such as electric vehicles and photovoltaics[36]. - The company has established a customer demand-oriented R&D system, with a structured process including project initiation, product design, trial production, and mass production[41]. - The company is focusing on the development of third-generation power semiconductor devices, such as SiC and GaN, which are increasingly recognized for their high efficiency and performance[48]. - The company has filed 16 new patent applications this year, bringing the total number of applications to 197, with 24 patents granted this year, totaling 119 granted patents[55][56]. Market and Industry Trends - The power semiconductor industry is experiencing stable growth, driven by demand in electric vehicles, renewable energy, and smart grids, with significant market opportunities ahead[44]. - The demand for IGBT modules in the electric vehicle sector is projected to increase significantly, with IGBT accounting for about 37% of the cost of electric vehicle control systems[110]. - The market for SiC power semiconductor devices is expected to exceed 10 billion USD by 2027, with a compound annual growth rate of nearly 40% from 2018 to 2027[111]. Governance and Compliance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties, ensuring financial integrity[8]. - The company has not violated any decision-making procedures regarding external guarantees, maintaining compliance with regulations[8]. - The company has not disclosed any special arrangements for corporate governance, indicating standard governance practices[8]. - The company has received a standard unqualified audit report from Tianheng Accounting Firm, affirming the accuracy of its financial statements[5]. - The company has implemented internal control systems in compliance with relevant laws and regulations, enhancing governance and operational efficiency[157]. Environmental and Social Responsibility - The company emphasizes energy conservation and environmental protection, aligning its operations with ecological sustainability[168]. - The company has effectively managed its waste and pollution, ensuring that hazardous waste is disposed of by qualified professional units[164]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[161]. Shareholder and Management Information - The company held five shareholder meetings in 2021, with all resolutions passed without any objections[125]. - The total pre-tax remuneration for the chairman was 48.89 million yuan[126]. - The company has a performance evaluation system for determining the remuneration of directors and senior management based on operational performance and individual contributions[137]. - The company has established a comprehensive evaluation mechanism for senior management, linking their compensation to company performance and strategic execution[156]. Future Outlook - The company’s future plans and strategic developments are subject to investment risks, and investors are advised to exercise caution[7]. - Financial guidance for the upcoming quarters suggests a stable growth trajectory, with projected revenue increases[128]. - The company is actively pursuing new product development initiatives, focusing on innovative technologies to meet market demands[128].

Revenue and Profit - Revenue for Q1 2022 reached ¥139,993,013.88, representing a year-over-year increase of 34.17%[5] - Net profit attributable to shareholders decreased by 25.74% to ¥12,282,781.94[5] - Total operating revenue for Q1 2022 reached ¥139,993,013.88, a 34.2% increase from ¥104,337,184.40 in Q1 2021[21] - Net profit for Q1 2022 was ¥12,218,710.20, a decrease of 24.0% compared to ¥16,084,785.81 in Q1 2021[22] Earnings and Shareholder Information - Basic earnings per share fell by 44.31% to ¥0.12 due to increased costs[6][10] - The total number of common shareholders at the end of the reporting period was 5,779[13] - The top shareholder, Zhao Shanqi, holds 17,524,600 shares, representing 17.79% of total shares[13] - The total equity attributable to shareholders reached ¥884,676,346.21 in Q1 2022, compared to ¥876,502,937.20 in Q1 2021, indicating a slight increase[21] Research and Development - R&D investment totaled ¥11,936,146.61, up 101.74% compared to the previous year, accounting for 8.53% of revenue[6][10] - Research and development expenses increased to ¥11,936,146.61 in Q1 2022, compared to ¥5,916,665.58 in Q1 2021, reflecting a 101.5% rise[21] Cash Flow and Financial Position - The net cash flow from operating activities was negative at -¥3,664,450.59, attributed to increased cash payments for raw materials and operating expenses[11] - Cash flow from operating activities showed a net outflow of ¥3,664,450.59 in Q1 2022, an improvement from a net outflow of ¥19,788,638.51 in Q1 2021[24] - The net cash flow from investment activities was -44,911,192.31, indicating a significant outflow compared to the previous period's -15,157,807.48[25] - Cash inflow from financing activities totaled 61,193,461.21, up from 31,539,689.71 in the prior period[25] - The company experienced a net decrease in cash and cash equivalents of -32,450,518.49, compared to -4,402,479.94 in the prior period[25] Assets and Liabilities - Total assets decreased by 18.49% to ¥1,043,862,368.76 compared to the end of the previous year[6] - The company's total assets amounted to ¥1,043,862,368.76, a decrease from ¥1,280,714,866.30 as of December 31, 2021, reflecting a decline of approximately 18.5%[17] - Total liabilities amounted to ¥159,186,022.55 in Q1 2022, a decrease from ¥404,211,929.10 in Q1 2021[21] - The company's total current liabilities decreased to ¥142,000,000 from ¥170,629,427.52, reflecting a decline of about 16.8%[18] Inventory and Receivables - Accounts receivable decreased to ¥131,893,257.37 from ¥177,297,089.10, indicating a reduction of approximately 25.6%[17] - Inventory rose to ¥204,278,587.26 from ¥142,646,183.88, showing an increase of around 43.3%[17] - The company has a significant increase in other receivables, rising to ¥6,034,540.79 from ¥624,519.60, which is an increase of approximately 867.5%[17] Other Financial Metrics - The weighted average return on equity was 1.39%, down 5.53 percentage points year-over-year[6] - The company reported non-recurring gains of ¥1,932,439.61 from government subsidies[8] - The company did not apply the new accounting standards for the current year[25] - The company has not disclosed any new product developments or market expansion strategies in the current report[15] Cash Management - The company's cash and cash equivalents increased to ¥425,906,569.02 from ¥296,275,510.58, representing a growth of about 43.6%[17] - The total cash and cash equivalents at the end of the period were 425,906,569.02, down from 458,357,087.51 at the beginning of the period[25] - Cash outflow for debt repayment was 24,860,416.46, with dividend and interest payments totaling 20,207,920.34[25] - The company's cash flow management reflects a strategic approach to financing and investment despite the net decrease in cash[25] Report Issuance - The report was issued by Jiangsu Hongwei Technology Co., Ltd. on April 28, 2022[25]

Financial Performance - The company's revenue for Q3 2021 was ¥135,553,769.46, representing a year-over-year increase of 42.55%[4] - Net profit attributable to shareholders for Q3 2021 was ¥14,780,633.07, an increase of 89.25% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥11,593,325.55, up 56.27% year-over-year[4] - Total operating revenue for the first three quarters of 2021 reached ¥369,942,411.58, a significant increase from ¥236,684,960.75 in the same period of 2020, representing a growth of approximately 56.2%[19] - Net profit for the third quarter of 2021 was ¥46,059,077.43, compared to ¥18,237,261.54 in the same quarter of 2020, indicating a year-over-year increase of about 152.5%[20] - Basic earnings per share for Q3 2021 were ¥0.18, up 63.64% year-over-year[5] - Basic earnings per share for the third quarter of 2021 were ¥0.61, up from ¥0.27 in the same quarter of 2020, representing an increase of about 126%[21] Assets and Liabilities - The total assets at the end of the reporting period reached ¥1,171,874,564.41, reflecting a 175.87% increase from the end of the previous year[5] - The total liabilities increased to ¥296,650,298.97 from ¥192,438,047.37, reflecting a growth of approximately 54.2%[19] - The total equity attributable to shareholders at the end of the reporting period was ¥874,235,915.91, an increase of 278.68% from the end of the previous year[5] - The total equity attributable to shareholders rose to ¥874,235,915.91, up from ¥230,863,403.52, marking an increase of about 278.5%[19] Cash Flow and Investments - The net cash generated from operating activities for the year-to-date period was ¥8,453,947.87, an increase of 35.07%[4] - The net cash flow from operating activities for the first three quarters of 2021 was ¥8,453,947.87, an increase of 35% compared to ¥6,258,934.07 in the same period of 2020[23] - Total cash inflow from operating activities was ¥216,936,316.05, slightly down by 0.5% from ¥217,970,398.19 in the previous year[23] - Cash outflow from operating activities amounted to ¥208,482,368.18, a decrease of 1.1% from ¥211,711,464.12 in 2020[23] - The net cash flow from investing activities was -¥81,282,702.78, compared to -¥16,762,166.49 in the same period last year, indicating increased investment expenditures[24] - Cash inflow from financing activities reached ¥736,606,587.41, a significant increase of 600% from ¥105,491,161.14 in the previous year[24] - The net cash flow from financing activities was ¥621,729,476.30, compared to ¥27,457,782.69 in the same period of 2020, reflecting strong capital raising efforts[24] Research and Development - The company's R&D investment for Q3 2021 was ¥8,859,353.34, a 69.45% increase compared to the same period last year[5] - Research and development expenses for the first three quarters amounted to ¥20,619,264.10, compared to ¥14,938,838.30 in the previous year, showing an increase of approximately 38.2%[19] Shareholder Information - The company reported a total of 6,285 common shares outstanding at the end of the reporting period[12] - The top shareholder, Zhao Shanqi, holds 17,524,600 shares, representing 17.79% of total shares[12] - The company has no pledged or frozen shares among its top shareholders, indicating a stable ownership structure[12] Market Outlook - The company expects continued growth in revenue and profit due to high market demand and full order intake[10] Inventory and Receivables - Inventory levels increased to CNY 152,778,984.69 from CNY 99,234,960.83, reflecting a 53.9% rise year-over-year[17] - Accounts receivable increased to CNY 139,939,402.01 from CNY 103,721,777.59, showing a 34.8% growth in receivables[16] Other Financial Metrics - The weighted average return on equity was 3.15%, a decrease of 0.42 percentage points compared to the previous year[5] - The company reported a decrease in credit impairment losses to -¥106,842.71 from -¥75,565.36, indicating improved asset quality[20] - Deferred income increased to ¥28,473,812.57 from ¥17,712,985.67, representing a growth of approximately 61%[19] - The ending balance of cash and cash equivalents was ¥567,231,009.82, up from ¥41,849,456.06 at the end of the same period last year[24] - Cash and cash equivalents reached CNY 567,231,009.82, compared to CNY 18,360,009.91 at the end of 2020, indicating a substantial growth in liquidity[16] - The cash paid for purchasing fixed assets and other long-term assets was ¥81,725,302.16, compared to ¥16,797,293.86 in the same period last year, indicating increased capital expenditures[24] - The company reported a cash inflow of ¥442,599.38 from the disposal of fixed assets, a significant increase from ¥45,127.37 in the previous year[23]