证券代码：000017、200017 证券简称：深中华 A、深中华 B 深圳中华自行车（集团）股份有限公司 投资者关系活动记录表 编号：2022-001 | --- | --- | --- | |-----------------------|-----------------------------------|-------------------------------------------------------------| | 投资者关系活动 | □特定对象调研 | □分析师会议 | | 类别 | □媒体采访 √业绩说明会 | | | | □新闻发布会 □路演活动 | | | | □现场参观 | | | | □其他 | | | 参与单位名称及 | 2021 | 年 度 网 上 业 绩 说 明 会 通 过 " 价 值 在 线 " | | 人员姓名 | （ www.ir-online.cn | ），采用网络互动的方式举行，面向全体 | | | 投资者 | | | 时间 2022 | 年 5 月 19 | 日（星期四）下午 15:00-17:00 | | 地点 | "价值在线"（ | www.ir-o ...

| --- | --- | |-----------------------------------|----------------------------------------------------------------------------------------------------------------------| | | | | 误 导 性 陈述 或 者 重 大 遗漏 。 | 网上集体接待日活动的公告 本 公 司 及 董 事 会 全 体 成 员保 证 公 告 内 容真 实 、准 确 、完 整 ，没有 虚 假 记 载、 | 为进一步加强与投资者的互动交流，深圳中华自行车（集团）股份有限公司（以 下简称"公司"）将参加由深圳证监局指导、深圳上市公司协会与深圳市全景网络 有限公司联合举办的"2022 年深圳辖区上市公司投资者集体接待日活动"，现将相 关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP,参与 本次互动交流，活动时间为 2022 年 11 月 9 日（周三） ...

Financial Performance - The company's operating revenue for Q3 2022 was CNY 42,497,879.73, representing a 45.97% increase year-over-year[4] - The net profit attributable to shareholders for Q3 2022 was CNY 2,695,178.23, a significant increase of 368.08% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 2,327,827.29, reflecting a 612.21% increase year-over-year[4] - The revenue for the year-to-date period reached CNY 149,163,326.31, marking a 79.19% increase compared to the same period last year, driven by growth in the jewelry and gold business[8] - Total operating revenue for the period reached ¥149,163,326.31, a significant increase from ¥83,243,710.49 in the previous period, representing an increase of approximately 79.3%[23] - Net profit for the period was ¥2,183,244.04, slightly down from ¥2,202,660.68 in the previous period, indicating a decrease of approximately 0.9%[26] - Total comprehensive income for the period attributable to the parent company was 1,211,813.81, a decrease from 1,941,282.30 in the previous period[28] - The total comprehensive income for the period was 2,183,244.04, compared to 2,202,660.68 in the previous period, showing a slight decrease[28] Assets and Liabilities - The total assets at the end of Q3 2022 amounted to CNY 101,750,042.82, which is a 4.51% increase from the end of the previous year[4] - The company's total assets increased to ¥101,750,042.82 from ¥97,363,437.22, marking a growth of about 4.0%[22] - Total liabilities rose to ¥75,564,065.10, up from ¥73,360,703.54, which is an increase of approximately 3.0%[22] - The equity attributable to shareholders at the end of Q3 2022 was CNY 10,130,351.97, up 13.59% from the end of the previous year[4] - The company’s equity attributable to shareholders increased to ¥10,130,351.97 from ¥8,918,538.16, representing a growth of approximately 13.6%[22] Cash Flow - The company's cash flow from operating activities showed a net outflow of CNY -15,197,714.21, an increase of 160.93% compared to the same period last year[8] - Net cash flow from operating activities was -15,197,714.21, compared to -5,824,421.10 in the previous period, indicating a worsening cash flow situation[32] - Cash received from sales of goods and services was 152,183,072.33, significantly higher than 77,209,161.86 in the previous period, showing strong revenue growth[29] - Total cash outflow from operating activities was 176,862,599.83, up from 94,485,555.83 in the previous period, reflecting increased operational expenses[32] - Cash and cash equivalents at the end of the period were 17,669,880.98, down from 14,057,598.96 in the previous period[32] - The company reported a decrease in cash and cash equivalents to CNY 20,645,895.89, down 37.90% from the previous period, due to inventory purchases in the jewelry and gold business[8] - The company's cash and cash equivalents amount to 20,645,895.89 RMB, a decrease from 33,246,957.92 RMB[16] Shareholder Information - Total number of common shareholders at the end of the reporting period is 47,179[12] - The largest shareholder, Shenzhen Guosheng Energy Investment Development Co., Ltd., holds 11.52% of shares, totaling 63,508,747 shares[12] Legal Matters - The company is involved in a lawsuit with Shenzhen Jianji Industrial Development Co., Ltd. over a contract dispute involving 30.859 million RMB[15] - The company has filed a counterclaim for 6 million RMB against the plaintiff[15] - The company has no significant adverse impact on current or future profits from the ongoing litigation[15] Private Placement - The company plans to raise up to 293.6 million RMB through a private placement to supplement working capital[15] - The company received approval from the China Securities Regulatory Commission for its private placement, valid for 12 months from November 11, 2021[15] - The company is actively progressing with its private placement and will disclose updates as necessary[15] Research and Development - Research and development expenses decreased by 75.71% to CNY 819,436.21 compared to the previous year[8] - Research and development expenses for the period were ¥819,436.21, down from ¥3,373,918.21 in the previous period, indicating a decrease of about 75.7%[23] Accounts Receivable and Payable - Accounts receivable increased to 58,521,345.85 RMB from 46,850,083.59 RMB[16] - The company reported a significant increase in accounts payable, which rose to ¥14,377,670.74 from ¥8,297,306.34, reflecting a growth of approximately 73.0%[22]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 106,665,446.58, representing a 97.05% increase compared to CNY 54,130,317.60 in the same period last year[24]. - The net profit attributable to shareholders of the listed company was a loss of CNY 1,483,364.42, a decrease of 208.63% from a profit of CNY 1,365,493.34 in the previous year[24]. - The basic earnings per share were -0.0027 CNY, down 208.00% from 0.0025 CNY in the same period last year[24]. - The company reported a total of CNY 792,549.72 in non-recurring gains and losses for the reporting period[29]. - The company's revenue for the reporting period reached ¥106,665,446.58, representing a 97.05% increase compared to ¥54,130,317.60 in the same period last year, driven by growth in the gold and jewelry business[50]. - The cost of sales increased by 106.25% to ¥100,215,639.64 from ¥48,590,120.12, reflecting the rise in gold and jewelry business costs[50]. - The gross profit margin for the jewelry and gold segment was 5.21%, a decrease of 3.15% from the previous year[53]. - The total comprehensive income for the period was CNY -1,979,473.91, a stark contrast to CNY 975,814.84 in the first half of 2021[167]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 101,482,852.73, an increase of 4.23% from CNY 97,363,437.22 at the end of the previous year[24]. - The net assets attributable to shareholders of the listed company decreased by 16.63% to CNY 7,435,173.74 from CNY 8,918,538.16 at the end of the previous year[24]. - Cash and cash equivalents decreased by 8.62% to ¥25,905,133.26, representing 25.53% of total assets[54]. - Accounts receivable decreased by 5.82% to ¥42,930,643.33, accounting for 42.30% of total assets[57]. - Inventory increased by 14.94% to ¥23,761,043.78, representing 23.41% of total assets, attributed to growth in jewelry inventory[57]. - The total assets as of June 30, 2022, were CNY 53,466,473.47, down from CNY 57,046,995.25 at the beginning of the year, reflecting a decrease of approximately 6.5%[153]. - Total liabilities as of June 30, 2022, were CNY 52,598,055.30, a decrease from CNY 54,199,103.17 at the start of the year, showing a reduction of about 3.0%[153]. Cash Flow - The company reported a net cash flow from operating activities of -2,275,914.14 CNY, a significant decline of 446.31% compared to -416,594.29 CNY in the previous year[24]. - The net cash flow from operating activities was -¥9,279,476.52, a decline of 279.20% compared to -¥2,447,126.82 in the same period last year, primarily due to inventory purchases[50]. - The total cash inflow from operating activities for the first half of 2022 was CNY 130,257,935.64, a significant increase of 101.0% compared to CNY 64,807,576.52 in the same period of 2021[168]. - The cash outflow from operating activities totaled CNY 139,537,412.16, up from CNY 67,254,703.34 in the previous year, resulting in a net cash flow from operating activities of CNY -9,279,476.52[170]. Market and Industry Trends - The company's main businesses include bicycle and lithium battery materials, as well as gold jewelry, with gold jewelry accounting for 60.13% of the domestic jewelry market[32]. - The actual consumption of gold jewelry in China has shown stable growth, with a recovery trend starting from September 2016, driven by economic stabilization and wedding demand[33]. - The jewelry industry is experiencing increased concentration, with larger brands gaining market share as consumer brand awareness rises[34]. - Third- and fourth-tier cities are emerging as significant markets for jewelry consumption, driven by urbanization and increased consumer spending power[35]. - The penetration rate of diamond jewelry in China has significant growth potential, indicating a promising future for the industry[38]. Corporate Governance and Shareholder Rights - The company emphasizes the protection of shareholder rights, particularly for minority investors, by facilitating their participation in shareholder meetings[80]. - The company has not faced any administrative penalties for environmental issues during the reporting period[78]. - The company reported a 11.60% investor participation rate in the 2021 annual general meeting held on June 29, 2022[74]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[76]. Legal Matters - The company is involved in a significant lawsuit related to a contract dispute with an amount of 30.86 million yuan, which is currently under appeal[97]. - Another lawsuit involves a counterclaim with an amount of 6 million yuan, also under appeal, with no significant adverse impact on the company's profits[97]. - The company reported no significant litigation or arbitration matters that reached disclosure standards during the reporting period[97]. Future Plans and Investments - The company plans to raise up to ¥29,360,000 through a private placement of A-shares to enhance its operational strength and development potential[48]. - The company has established a joint venture, Shenzhen Xinsen Jewelry Gold Supply Chain Co., Ltd., with a total investment of ¥20 million, in which the company holds a 65% stake[46]. - The company plans to increase its registered capital of Shenzhen Xinsen Jewelry Supply Chain Co., Ltd. from RMB 20 million to RMB 200 million, with the company contributing an additional RMB 117 million[71]. - The company is exploring potential mergers and acquisitions to enhance growth opportunities in the market[185].

Financial Performance - The company's revenue for Q1 2022 was ¥50,246,951.40, representing a 116.92% increase compared to ¥23,163,329.56 in the same period last year[4] - The net profit attributable to shareholders was -¥903,991.16, a decline of 327.35% from -¥211,535.36 year-over-year[4] - Total operating revenue for the period was CNY 50,246,951.40, compared to CNY 23,163,329.56 in the previous period, representing a significant increase[25] - Net profit for the period was a loss of CNY 725,060.16, compared to a loss of CNY 211,484.40 in the previous period[28] - The total comprehensive income for the period was a loss of CNY 725,060.16, compared to a loss of CNY 211,484.40 in the previous period[28] Cash Flow - The net cash flow from operating activities was -¥8,930,326.51, a decrease of 738.26% compared to ¥1,399,162.83 in the previous year[4] - The company reported a net cash outflow from operating activities of CNY -8,930,326.51, compared to a net inflow of CNY 1,399,162.83 in the previous period[32] - The net cash flow from investing activities was -5,957.99 million[35] - The net cash flow from financing activities was -142,878.90 million[35] - The net increase in cash and cash equivalents was -9,073,205.41 million[35] - The beginning balance of cash and cash equivalents was 33,246,957.92 million[35] - The ending balance of cash and cash equivalents was 24,173,752.51 million[35] Assets and Liabilities - The company's total assets increased by 4.67% to ¥101,914,520.44 from ¥97,363,437.22 at the end of the previous year[4] - Total liabilities rose from 73.36 million CNY to 78.64 million CNY, an increase of approximately 7.8%[22] - The company's total assets increased from 97.36 million CNY to 101.91 million CNY, reflecting a growth of about 4.7%[22] - The company’s non-current liabilities decreased from 228.30 million CNY to 86.29 million CNY, a reduction of approximately 62.1%[22] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 40,730[9] - The largest shareholder, Shenzhen Guosheng Energy Investment Development Co., Ltd., holds 11.52% of the shares[9] Research and Development - Research and development expenses increased by 41.94% to ¥1,215,439.84 from ¥856,296.32 in the previous year[8] - Research and development expenses were CNY 1,215,439.84, an increase from CNY 856,296.32 in the previous period[25] Inventory and Receivables - The company reported a significant increase in inventory, rising by 138.29% to ¥19,655,197.38 from ¥8,248,573.77 year-over-year[8] - Inventory increased significantly from 8.25 million CNY to 19.66 million CNY, representing a growth of about 138.5%[16] - Accounts receivable slightly decreased from 46.85 million CNY to 46.24 million CNY, indicating a reduction of approximately 1.3%[16] Other Income and Expenses - The company received government subsidies amounting to ¥103,369.17 during the reporting period[5] - The company reported other income of CNY 103,369.17, significantly higher than CNY 2,516.00 in the previous period[25] - The company’s tax expenses were CNY 8,270.01, slightly down from CNY 8,863.55 in the previous period[25] Legal Matters - The company is actively responding to a lawsuit involving a claim of 30.86 million CNY related to a real estate contract dispute[15] - The company has filed a counterclaim for 6 million CNY against Shenzhen Jian Zhi Industrial Development Co., asserting that it has fulfilled its contractual obligations[15]

深圳中华自行车（集团）股份有限公司 2021 年半年度报告全文 深圳中华自行车（集团）股份有限公司 2021 年半年度报告 2021 年 08 月 1 深圳中华自行车（集团）股份有限公司 2021 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和 连带的法律责任。 公司负责人李海、主管会计工作负责人孙龙龙及会计机构负责人(会计主管 人员)钟小津声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 公司需遵守《深圳证券交易所行业信息披露指引第 11 号——上市公司从事 珠宝相关业务》的披露要求。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 深圳中华自行车（集团）股份有限公司 2021 年半年度报告全文 目录 | --- | |-------------------------------------------| | | | 第一节 重要提示、目录和释义 . | | 第二节 公司简介和主要财务指标 | | 第三节 管理层 ...

Financial Performance - The company's operating revenue for 2020 was CNY 117,857,480.17, representing a 55.03% increase compared to CNY 76,022,687.75 in 2019[22] - The net profit attributable to shareholders for 2020 was CNY 3,785,834.68, a significant turnaround from a loss of CNY 7,186,905.64 in 2019, marking a 155.44% improvement[22] - The net profit after deducting non-recurring gains and losses was CNY 3,071,751.90, compared to a loss of CNY 7,370,499.83 in the previous year, reflecting a 143.29% increase[22] - The net cash flow from operating activities was CNY 3,942,228.96, a recovery from a negative cash flow of CNY -13,791,941.34 in 2019, indicating a 128.58% improvement[25] - The total assets at the end of 2020 were CNY 91,742,769.99, up 46.24% from CNY 62,733,602.58 at the end of 2019[25] - The net assets attributable to shareholders increased to CNY 10,905,230.98, a 53.18% rise from CNY 7,119,396.30 in 2019[25] - The basic earnings per share for 2020 were CNY 0.0069, compared to a loss of CNY -0.0130 in 2019, representing a 155.38% increase[25] - The weighted average return on net assets was 42.01%, a significant recovery from -53.69% in the previous year, showing a 95.70% improvement[25] Revenue Breakdown - Total revenue for the year was 117,857,480.17 CNY, with a significant increase in the second quarter to 35,221,905.48 CNY and third quarter to 40,216,980.94 CNY[28] - The jewelry and gold business accounted for approximately 74% of total operating revenue, generating 87.06 million yuan[53] - Revenue from gold jewelry surged to ¥87,064,073.74, a staggering increase of 1,784.90% compared to ¥4,619,038.46 in 2019[62] Market Insights - The jewelry market in China has shown a growth rate of 8% in 2019, with significant potential in lower-tier cities where growth rates reached 45.3%[37] - The domestic gold and jewelry industry is in a mature phase, with a market size of 1,097 billion USD and a 5-year CAGR of 4.7%[39] - The jewelry industry is experiencing a shift towards design and brand value, driven by millennials who prioritize aesthetics and personal expression over traditional gold content[41] - The per capita jewelry consumption in mainland China was $73.4 in 2019, significantly lower than Hong Kong ($785.9), the US ($222.6), and Canada ($163.6), indicating substantial growth potential[40] Strategic Initiatives - The company plans to apply for the removal of the delisting risk warning after meeting the necessary conditions[6] - The company aims to expand its market reach by targeting third and fourth-tier cities, which are seen as key growth areas for future performance[39] - The company has established a subsidiary to enter the jewelry supply chain business, enhancing its market presence[36] - The company has integrated upstream suppliers and downstream customers to enhance operational efficiency and reduce costs in the jewelry supply chain[35] Investment and Financing - The company plans to raise up to RMB 45 million through a non-public offering to strengthen its operational capacity and development momentum[46] - The company plans to raise up to 29.36 million yuan through a private placement of A-shares to supplement working capital, which will result in a change of control[53] - The company has decided to increase its investment in Shenzhen Xinsen Jewelry Supply Chain Co., Ltd. from RMB 20 million to RMB 200 million, with the company contributing an additional RMB 11.7 million[156] Operational Efficiency - The company has implemented various cost control measures to maintain cash flow and ensure operational stability during the pandemic[53] - The company has established stable partnerships with major diamond suppliers, enhancing its procurement cost efficiency and product quality control[41] - The company has implemented strict internal control processes, including supplier admission standards and order tracking systems, to ensure effective risk management[42] Challenges and Risks - The company has faced significant risks due to complex international political and economic conditions, structural adjustments in the domestic economy, and ongoing economic downward pressure[102] - The impact of the COVID-19 pandemic has caused operational disruptions, leading the company to focus on cost control and business stability while exploring e-commerce business models[103] Corporate Governance - The company has no unfulfilled commitments from actual controllers, shareholders, related parties, or acquirers during the reporting period[116] - There are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[119] - The company has no major litigation or arbitration matters during the reporting period[128] - The company has no major guarantees or leasing situations during the reporting period[144] Shareholder Structure - The largest shareholder, Shenzhen Guosheng Energy Investment Development Co., Ltd., holds 11.52% of the shares, totaling 63,508,747 shares[170] - The company has no actual controlling shareholder as of February 20, 2017, following the abandonment of control by Ji Hanfeng and Guosheng Energy[187] - The company confirmed that there are no shareholders holding more than 10% of the shares during the reporting period[190]

| --- | --- | |------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------| | | | | 股票代码： 000017 、 200017 股票简称： *ST 中华 A 、 *ST 中华 B 深圳中华自行车（集团）股份有限公司 | 公告编号： 2020-050 | | 关于参加 2020 上市公司投资者网上集体接待日活动的公告 | 深圳辖区"诚实守信，做受尊重的上市公司" | | 误导性陈述或者重大遗漏。 | 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 | 为进一步加强与投资者的互动交流工作，深圳中华自行车（集团）股份有限公司（以 下简称"公司"）将参加由深圳上市公司协会、深圳市全景网络有限公司共同举办的"诚 实守信，做受尊重的上市公司"——2020 深圳辖区上市公司投资者网上集体接 ...

深圳中华自行车(集团)股份有限公司 2020 年第三季度报告全文 深圳中华自行车（集团）股份有限公司 2020 年第三季度报告 2020 年 10 月 1 深圳中华自行车(集团)股份有限公司 2020 年第三季度报告全文 投资风险。 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连 带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人李海、主管会计工作负责人孙龙龙及会计机构负责人(会计主管 人员)钟小津声明：保证季度报告中财务报表的真实、准确、完整。 | --- | |----------------------------------------------------------------------------| | | | 公司 2018 年度、 2019 年度连续两个会计年度经审计的净利润为负值，公司 | | 股票已被实施退市风险警示。如果公司 2020 年度经审计的归属上市公司股东净 | | 利润继续为负值，根据《深圳证券交易所股票上市规则》的有关规定，公司股 | | 票将 ...

Financial Performance - The company's operating revenue for the reporting period was ¥42,656,355.21, representing an increase of 11.45% compared to ¥38,274,433.02 in the same period last year[16]. - The net profit attributable to shareholders was ¥2,797,643.50, a significant turnaround from a loss of ¥798,946.17 in the previous year, marking a change of -450.17%[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥2,197,907.57, compared to a loss of ¥910,390.17 last year, reflecting a change of -341.42%[16]. - The net cash flow from operating activities was ¥1,350,395.94, a substantial improvement from a negative cash flow of ¥8,901,256.74 in the same period last year, indicating a change of -115.17%[16]. - The basic earnings per share were ¥0.0051, compared to a loss of ¥0.0014 per share in the previous year, showing a change of -464.29%[16]. - The total comprehensive income for the first half of 2020 was CNY 3,420,613.90, compared to a total comprehensive loss of CNY 1,090,458.35 in the same period of 2019[166]. Assets and Liabilities - The total assets at the end of the reporting period were ¥74,493,806.65, an increase of 18.75% from ¥62,733,602.58 at the end of the previous year[16]. - The net assets attributable to shareholders increased to ¥9,917,039.80, up 39.30% from ¥7,119,396.30 at the end of the previous year[16]. - The total current assets as of June 30, 2020, amounted to CNY 68,773,461.68, an increase from CNY 56,346,517.09 at the end of 2019, reflecting a growth of approximately 22.3%[147]. - Total liabilities increased to CNY 54,469,468.28 as of June 30, 2020, compared to CNY 46,914,245.53 at the end of 2019, marking an increase of about 16.4%[159]. - The total equity attributable to shareholders of the parent company was CNY 3,986,041.46, up from CNY 2,397,263.79 at the end of 2019, representing an increase of approximately 66.3%[159]. Investment and Capital Structure - The company plans to raise up to 450 million RMB through a private placement of A-shares to enhance its operational strength and development potential[36]. - The company made a significant investment of ¥8,775,000.00 during the reporting period, marking a 100% increase compared to the previous year[59]. - The registered capital of Shenzhen Xinsen Jewelry Gold Supply Chain Co., Ltd. was increased from RMB 20 million to RMB 200 million, with the company contributing RMB 117 million and its partner contributing RMB 63 million, totaling RMB 180 million in new capital[106][109]. - The company plans to increase its investment in Shenzhen Xinsen Jewelry Gold Supply Chain Co., Ltd. to 20 million CNY in 2020, with a further increase to 200 million CNY in August 2020[70]. Market and Business Strategy - The company's main business includes bicycle and lithium battery materials, as well as gold jewelry supply chain management, with over 30% of revenue from jewelry-related business in the last audited fiscal year[25]. - The jewelry market in China is experiencing rapid growth, with significant potential in lower-tier cities, where the market growth rate reached 45.3% from 2010 to 2015, surpassing first-tier cities[27]. - The company is actively expanding its customer base, targeting three categories of clients: A-class (over 500 retail stores), B-class (300-500 retail stores), and C-class (50-100 retail stores)[30]. - Supply chain management is becoming a crucial operational strategy for jewelry companies, focusing on outsourcing low-margin production to optimize cash flow and profitability[30]. - The company is actively expanding its jewelry gold supply chain business, with a total investment of 20 million RMB in Shenzhen Xinsen Jewelry Gold Supply Chain Co., Ltd., where the company holds a 65% stake[35]. Operational Challenges and Responses - The company faced significant operational challenges due to the COVID-19 pandemic, impacting supply and sales chains[71]. - The company has implemented various cost-control measures to maintain cash flow and stabilize operations during the pandemic[71]. - The company is adapting to challenges posed by the COVID-19 pandemic by implementing various measures to maintain cash flow and stabilize operations[39]. Research and Development - Research and development expenses increased to CNY 753,742.20, reflecting a focus on electric bicycle and lithium battery material business development[43]. - Research and development expenses for the first half of 2020 were CNY 753,742.20, a new expense category introduced compared to CNY 0.00 in the same period of 2019[161]. Corporate Governance - The company has implemented strict internal control processes, including supplier admission standards and customer evaluation systems, to ensure a closed-loop control of funds, information, and logistics[31]. - The company has not encountered any major litigation or arbitration issues during the reporting period[81]. - The company has not implemented any employee incentive plans during the reporting period[85]. - The company reported no related party transactions during the reporting period[86].