Financial Performance - The company's operating revenue for Q1 2022 reached ¥195,413,544.66, representing an increase of 86.32% compared to the same period last year[6] - The net profit attributable to shareholders of the listed company was ¥41,626,946.74, reflecting a growth of 51.33% year-on-year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥41,157,435.06, which increased by 98.55% compared to the previous year[6] - Total operating revenue for Q1 2022 reached RMB 195,413,544.66, a significant increase of 86.3% compared to RMB 104,878,462.60 in Q1 2021[31] - Net profit for Q1 2022 was RMB 41,626,946.74, representing a 51.3% increase from RMB 27,507,501.54 in Q1 2021[34] - The company reported a total profit of RMB 49,293,024.11 for Q1 2022, up from RMB 32,545,171.59 in Q1 2021[34] Research and Development - Research and development expenses totaled ¥11,067,750.34, marking a significant increase of 248.76% year-on-year[9] - R&D expenses accounted for 5.66% of operating revenue, up by 2.63 percentage points from the previous year[9] - Research and development expenses in Q1 2022 amounted to RMB 11,067,750.34, a substantial rise of 248.5% compared to RMB 3,173,437.33 in Q1 2021[31] Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥50,054,783.45, indicating a significant cash outflow during the quarter[6] - Cash flow from operating activities in Q1 2022 showed a net outflow of RMB 50,054,783.45, worsening from a net outflow of RMB 39,602,344.94 in Q1 2021[41] - The net cash flow from financing activities was -$309,416.67, compared to -$627,600.00 in the previous period, indicating a decrease of approximately 50.7%[42] - Cash and cash equivalents at the end of the period totaled $1,042,225,014.42, down from $1,095,530,800.10 at the beginning of the period, reflecting a decrease of about 4.9%[42] - The net increase in cash and cash equivalents was -$53,305,785.68, compared to -$41,616,855.31 in the previous period, showing a decline of approximately 28.3%[42] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,100,911,385.02, an increase of 4.09% from the end of the previous year[9] - As of March 31, 2022, the total current assets amounted to ¥1,934,791,361.24, an increase from ¥1,852,307,334.65 as of December 31, 2021, representing a growth of approximately 4.4%[22] - Accounts receivable increased to ¥580,149,799.38 from ¥458,062,200.75, reflecting a rise of about 26.6% year-over-year[26] - Inventory reached ¥211,405,709.92, up from ¥195,300,376.64, indicating an increase of approximately 8.3%[26] - Total liabilities increased to ¥433,298,205.30 from ¥393,019,782.10, which is an increase of approximately 10.2%[29] - The total assets as of March 31, 2022, were ¥2,100,911,385.02, compared to ¥2,018,283,342.38 at the end of 2021, marking a growth of about 4.1%[26] - The total equity remained stable at ¥1,667,613,179.72 as of March 31, 2022, compared to ¥1,625,263,560.28 at the end of 2021, showing a modest increase of approximately 2.6%[29] Other Information - The company achieved over 300% revenue growth in the microwave device sector, driven by steady sales in the military industry[14] - The company reported a decrease of nearly 100% in non-recurring gains and losses compared to the previous period, contributing to the significant increase in net profit[14] - The company has not disclosed any new product launches or technological advancements during this reporting period[22] - There are no significant mergers or acquisitions reported in the current quarter[22] - The company did not apply the new accounting standards for the first quarter of 2022, which may influence financial reporting going forward[42]

Financial Performance - The company reported a net profit attributable to ordinary shareholders of RMB 164,859,410.41 for the year 2021[7]. - The total distributable profit as of December 31, 2021, was RMB 275,934,664.81[7]. - The proposed cash dividend is RMB 6.458 per 10 shares, totaling RMB 50,000,000, which represents a cash dividend payout ratio of 30.33%[10]. - The company has not yet achieved profitability since its listing[5]. - The company's operating revenue for 2021 was CNY 590,354,264, representing a year-on-year increase of 32.41%[35]. - Net profit attributable to shareholders for 2021 was CNY 164,859,410, a growth of 72.80% compared to the previous year[38]. - The net profit after deducting non-recurring gains and losses was CNY 154,089,017, reflecting a 67.29% increase year-on-year[38]. - The net cash flow from operating activities increased by 38.04% to CNY 51,528,134[38]. - The company's total assets reached CNY 2,018,283,342, marking a 131.62% increase from the previous year[41]. - The net assets attributable to shareholders grew by 194.32% to CNY 1,625,263,560[41]. - Basic earnings per share for 2021 were CNY 2.56, up 56.10% from the previous year[41]. Research and Development - The R&D expenditure as a percentage of operating revenue was 4.34%, a decrease of 0.91 percentage points compared to the previous year[41]. - Research and development expenditure reached ¥25,603,211.93, an increase of 9.29% compared to the previous year[51]. - The company expanded its R&D team to 232 personnel, accounting for 23.94% of the total workforce[51]. - A total of 9 new patents were applied for, including 5 invention patents and 4 utility model patents, enhancing the company's intellectual property portfolio[51]. - The total R&D investment for the year was approximately ¥25.6 million, representing a 9.29% increase from the previous year's ¥23.4 million[155]. - R&D investment accounted for 4.34% of the company's operating revenue, down from 5.25% in the previous year, indicating a decrease of 0.91 percentage points[155]. - The company holds a total of 34 authorized invention patents and 56 utility model patents, with a cumulative total of 93 patents[150]. - The company has developed several core technologies, including high-efficiency, miniaturized traveling wave tube technology, which is domestically leading[145]. - The company has achieved international leadership in technologies such as thermal helium leak detection and helium fan technology[145]. - The company has developed over 300 types of microwave electronic devices, with more than 100 types leading domestically and several nearing or reaching international advanced levels[178]. Operational Risks - The company faces various operational risks, which are detailed in the management discussion and analysis section[5]. - The company has a risk of core technology leakage and personnel turnover, which could affect future technology development capabilities[187]. - The company is exposed to risks related to research and development failures, which could adversely impact operational performance if products do not meet market demands[189]. - The company must continuously upgrade its technology to meet customer demands, or it risks being replaced by competitors' advancements[188]. - The company has a risk of market competition intensifying, particularly in the microwave solid-state device sector, where it may struggle against larger state-owned enterprises[198]. - The company has a limited production capacity for its nuclear products, which may lead to challenges in meeting customer demand on time[199]. Market Position and Strategy - The company is involved in the ITER project, producing key components such as the divertor and blanket systems, with the blanket system consisting of 440 modules covering approximately 600 square meters[81]. - The company has established a stable customer base due to its involvement in key national projects, which require high levels of certification and technical expertise[118]. - The company is actively investing in technology development based on customer needs and market conditions, ensuring a robust pipeline for future product offerings[108]. - The ongoing geopolitical tensions are expected to drive the demand for military electronic equipment, further expanding the market for related electronic devices[116]. - The company has nearly 60 years of experience in the research and production of microwave devices, establishing itself as a backbone enterprise in domestic vacuum technology applications[129]. - The company’s primary business relies heavily on military contracts, which may face uncertainties in demand and procurement policies[193]. Production and Supply Chain - The company maintains stable raw material supply channels and has established long-term partnerships with key suppliers[99]. - The company’s military product production follows national military standards, ensuring standardized and regulated production management[100]. - The company’s sales model primarily relies on direct sales through competitive bidding and long-term communication with key clients[104]. - The company primarily utilizes a direct sales model for civilian products, including pressure vessel vacuum measurement and control components, leveraging trade shows and competitive bidding to secure orders[107]. - The company has established long-term stable partnerships with major domestic military enterprises and research institutes, ensuring a large and stable customer base[180][182]. Product Development and Innovation - The company has developed a range of traveling wave tubes, including broadband high-power continuous wave tubes and pulse tubes, covering frequencies from L band to Ka band with dozens of product models[61]. - The company produces over 100 types of magnetrons, with pulse power reaching the MW level and frequency coverage from S band to Ka band[62]. - The company manufactures over 100 types of gas discharge devices, including microwave switch tubes, with maximum power handling exceeding MW level and frequency coverage from S band to Ka band[63]. - The company's solid-state microwave devices include components such as switch networks and RF front ends, characterized by high integration, compact size, and wide frequency coverage[66]. - The solid-state power amplifiers can achieve kilowatt-level output in the Ka band and 300W level in the Q band, covering a frequency range from 10KHz to 50GHz[77]. - The company has developed the world's first large vacuum high-temperature helium leak detection device for ITER blanket components, meeting stringent operational requirements[83]. - The company has developed two models of gas circulation pump prototypes for the nuclear industry, which are currently in the testing phase[89]. - The company has successfully developed a full metal vacuum pump with a magnetic drive system, featuring excellent radiation resistance and ultra-low leakage rates[89]. - The company has completed the manufacturing of small radiation-resistant valves and achieved small batch delivery, demonstrating strong radiation resistance and low overall leakage rates[92]. - The company has developed a vacuum measurement and control component for low-temperature insulated pressure vessels, which has been certified and is now in mass production[94]. - The company has led a key national R&D project for a wide-range, small-volume vacuum monitoring instrument, achieving domestic leading and internationally advanced performance[94]. Customer Concentration and Financial Liabilities - The company faces a high customer concentration risk, with the top five customers accounting for 64.38% of total revenue during the reporting period[190]. - The company has long-term liabilities amounting to ¥106,210,000 due to national special funds for technological transformation, which may impact cash flow if repayment is required[200].

Financial Performance - Revenue for Q3 2021 reached ¥124,624,081.49, an increase of 23.34% year-over-year, and cumulative revenue for the year-to-date was ¥389,685,911.65, up 25.52% compared to the same period last year[8]. - Net profit attributable to shareholders for Q3 2021 was ¥31,128,970.94, a significant increase of 225.39% year-over-year, while the year-to-date net profit was ¥110,464,282.5, up 99.13% compared to the same period last year[8]. - The basic earnings per share for Q3 2021 was ¥0.48, reflecting a 192.85% increase year-over-year, and the year-to-date figure was ¥1.83, up 90.63% compared to the same period last year[10]. - Total operating revenue for the first three quarters of 2021 reached ¥389,685,911.65, an increase of 25.5% compared to ¥310,465,314.29 in the same period of 2020[37]. - Net profit for the third quarter of 2021 was ¥110,464,282.50, up 99.3% from ¥55,472,844.17 in the third quarter of 2020[39]. - The total comprehensive income for the third quarter was ¥110,464,282.50, reflecting a strong performance compared to ¥55,472,844.17 in the same quarter of the previous year[41]. Assets and Liabilities - Total assets as of the end of the reporting period were ¥1,904,958,266.58, representing an increase of 118.61% compared to the end of the previous year[10]. - The company's total assets reached ¥1,904,958,266.58, up from ¥871,383,149.43, indicating a growth of 118.5%[37]. - The company's total liabilities increased to ¥337,217,194.72, compared to ¥319,179,313.90 in the previous period, reflecting a growth of 5.5%[35]. - The total current liabilities remain stable at ¥30,000,000.00 for short-term borrowings[32]. - The company's long-term payables remained stable at ¥106,210,000.00, unchanged from the previous period, indicating a consistent financial strategy[35]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 3,915[22]. - The largest shareholder, Xinyu Anyuanuo Jin Enterprise Management Co., Ltd., holds 39,318,013 shares, accounting for 50.79% of the total shares[22]. - The total equity attributable to shareholders reached ¥1,567,741,071.86, significantly up from ¥552,203,835.53 in the previous year, marking an increase of 184.5%[37]. Cash Flow and Expenses - The company reported a net cash flow from operating activities of -¥55,516,314.87 year-to-date, primarily due to increased material and labor costs associated with sales growth[10]. - Cash inflow from operating activities for the first three quarters of 2021 was CNY 220,006,012.76, an increase from CNY 199,125,569.35 in the same period of 2020, representing an increase of approximately 10.4%[46]. - Cash outflow from operating activities increased to CNY 275,522,327.63 in 2021 from CNY 217,338,020.66 in 2020, reflecting a rise of about 26.8%[46]. - The net cash flow from operating activities for the first three quarters of 2021 was -CNY 55,516,314.87, compared to -CNY 18,212,451.31 in 2020, indicating a worsening of approximately 204.5%[46]. - Payments to employees increased to CNY 96,776,448.54 in 2021 from CNY 83,897,192.19 in 2020, reflecting an increase of approximately 15.4%[46]. - Other cash payments related to operating activities rose to CNY 28,053,298.35 in 2021 from CNY 21,824,243.31 in 2020, indicating an increase of about 28.5%[46]. Research and Development - Research and development expenses totaled ¥5,212,647.02 for Q3 2021, a decrease of 30.7% year-over-year, and accounted for 4.18% of revenue, down 3.26 percentage points[10]. - Research and development expenses for the third quarter amounted to ¥12,503,098.57, compared to ¥10,865,724.65 in the same quarter of 2020, indicating a rise of 15.1%[39]. Government Support - The company received government subsidies amounting to ¥1,391,600 during the reporting period, contributing to its financial performance[12].