Financial Performance - The company's operating revenue for Q1 2020 was ¥1,621,281,497.70, representing a 3.74% increase compared to ¥1,562,769,310.11 in the same period last year[9]. - Net profit attributable to shareholders was ¥54,666,849.06, a significant increase of 43.84% from ¥38,005,355.45 in the previous year[9]. - Basic earnings per share rose to ¥0.071, up 42.00% from ¥0.05 in the previous year[9]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB in Q1 2020, representing a 20% year-over-year growth[41]. - The company reported a net profit of ¥2,957,634,365.06 as of March 31, 2020, compared to ¥2,902,967,516.00 in the previous period, reflecting a growth of 1.88%[71]. - The net profit for the current period was CNY 41,279,718.24, compared to CNY 39,481,590.16 in the previous period, representing a growth of 4.6%[86]. Cash Flow - The net cash flow from operating activities was -¥525,386,133.27, worsening by 129.63% compared to -¥228,798,334.13 in the same period last year[9]. - Cash paid for purchasing goods and accepting services during the period amounted to ¥2,264,421,382.31, an increase of 46.93% compared to the same period last year, primarily due to higher progress payments for engineering projects[26]. - The cash inflow from operating activities is ¥1,953,074,082.45, an increase from ¥1,553,584,638.45 in the previous period, representing a growth of approximately 25.7%[101]. - The cash outflow from operating activities is ¥2,478,460,215.72, compared to ¥1,782,382,972.58 in the previous period, indicating an increase of about 39%[101]. - The net cash flow from financing activities was 1,340,276,068.27 CNY, compared to -22,369,881.67 CNY in the previous period, indicating a significant improvement[104]. Assets and Liabilities - Total assets at the end of the reporting period were ¥16,109,984,168.19, reflecting a 9.25% increase from ¥14,746,104,215.47 at the end of the previous year[9]. - Total liabilities increased to ¥10,536,812,538.02 from ¥9,292,062,384.79, reflecting a rise of 13.39%[68]. - Long-term borrowings surged to ¥2,553,095,532.00 from ¥903,348,138.00, marking an increase of 182.69%[68]. - The total equity attributable to shareholders rose to ¥5,010,377,626.30 from ¥4,995,597,219.43, a slight increase of 0.29%[71]. - The total current assets amounted to ¥11,645,596,347.69, an increase of 8.83% from ¥10,699,354,942.72 on December 31, 2019[62]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 31,801[14]. - The largest shareholder, China North Industries Group Corporation, held 43.17% of the shares, totaling 332,209,313 shares[14]. Government Support and Subsidies - The company received government subsidies amounting to ¥4,038,137.46 during the reporting period[9]. - Tax refunds received during the period amounted to ¥178,438,623.35, an increase of 55.05% compared to the same period last year, mainly due to higher export tax refunds received[26]. Market and Product Development - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2020[41]. - New product launches are expected to contribute an additional 300 million RMB in revenue by the end of Q2 2020[41]. - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[64]. Research and Development - Ongoing research and development efforts have led to the introduction of two new technologies aimed at improving operational efficiency, projected to reduce costs by 5%[41]. - Research and development expenses for the current period were CNY 3,484,872.41, slightly down from CNY 3,511,297.60[83]. Compliance and Governance - The company has committed to maintaining compliance with all regulatory requirements regarding information disclosure and corporate governance[39]. - The company has established an independent financial department and accounting system to ensure financial independence[44]. - The company guarantees that its senior management personnel are exclusively employed by the company and do not hold operational positions in its subsidiaries[44]. Risk Management - The company has implemented risk control measures for its derivative investments, focusing on foreign exchange forwards to mitigate market and liquidity risks[53]. - The company has established a financial derivative trading management approach to enhance risk management and control[53].

Financial Performance - The company's operating revenue for 2019 was ¥11,060,172,817.26, representing a 10.81% increase compared to ¥9,981,409,795.74 in 2018[26]. - The net profit attributable to shareholders for 2019 was ¥706,237,373.19, a 19.87% increase from ¥589,176,078.24 in 2018[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥719,531,672.32, which is a 33.50% increase from ¥538,955,300.04 in 2018[26]. - The company's total assets at the end of 2019 were ¥14,746,104,215.47, an increase of 28.81% from ¥11,447,974,207.61 at the end of 2018[26]. - The net assets attributable to shareholders at the end of 2019 were ¥4,995,597,219.43, up 19.58% from ¥4,177,504,633.46 at the end of 2018[26]. - The basic earnings per share for 2019 was ¥0.92, an increase of 19.48% from ¥0.77 in 2018[26]. - The diluted earnings per share for 2019 was ¥0.91, an increase of 18.18% from ¥0.77 in 2018[26]. - The company reported a significant decline in net cash flow from operating activities, with a net outflow of ¥1,578,507,979.30 compared to a positive cash flow of ¥182,382,415.38 in 2018, marking a decrease of 965.49%[26]. - The company achieved operating revenue of CNY 1,106,017.28 million in 2019, representing a year-on-year growth of 10.81%[80]. - The company's net profit attributable to shareholders was CNY 70,623.74 million, reflecting a growth of 19.87% compared to the previous year[80]. - The operating cost for the year was CNY 945,442.10 million, which increased by 11.18% year-on-year[80]. Business Operations - The main business of the company currently includes international engineering contracting, domestic construction engineering, heavy equipment export trade, logistics services, and solar product trade[23]. - The company completed a major asset restructuring in 2016, acquiring 100% equity of North Vehicle and 51% equity of North Logistics, among others[23]. - The company has undergone several changes in its main business focus since its listing in 1998, evolving from aluminum products to international engineering contracting[23]. - The company has established extensive economic and technical cooperation in international engineering contracting, focusing on markets in Asia, Africa, and the Middle East[39]. - The company actively responded to the "Belt and Road" initiative, further expanding into new markets and steadily advancing major projects[39]. - The company ranked 97th in the ENR list of international contractors in 2019, maintaining its position in the top 100, and ranked 25th among Chinese companies[53]. - The company has established a strong market presence in international engineering, participating in significant projects such as the Lahore Orange Line in Pakistan and the Ethiopia-Djibouti railway[51]. - The company is focusing on integrated investment and operation models, transitioning from traditional EPC contracting to a more comprehensive approach[56]. - The company is actively expanding its presence in the renewable energy sector, particularly in solar lighting products and engineering projects[44][46]. - The company is involved in the development of significant projects like the 156MW wind power investment project in Croatia, marking a milestone in its international investments[51]. - The company executed 14 new projects, including the Nepal Phiring 171MW hydropower project and the Mozambique power grid expansion project, enhancing its market presence[73]. Financial Management - The company has established a strong capital operation and financing capability, providing comprehensive project financing solutions through stable partnerships with domestic banks[67]. - The company has a financing balance of approximately 62.43 million yuan for bank loans with a cost range of 3.90%-5.00%[55]. - The company reported a total of 22 ongoing EPC projects with a cumulative revenue recognition of approximately $12.755 billion[91]. - The total amount of accounts receivable related to the Lahore Orange Line project is approximately $367.8 million[91]. - The company has a total of 1.663 billion yuan in cumulative revenue recognition from the Ethiopia project, with an outstanding accounts receivable of approximately $1.121 billion[91]. - The company reported a net cash flow from operating activities of -1.58 billion RMB, a significant decrease of 965.49% compared to the previous year[110]. - The total financing cash inflow increased by 115.33% year-on-year, reflecting the company's successful fundraising efforts[114]. - The company’s investment income was -13,837,816.76 CNY, accounting for -1.62% of total profit, indicating challenges in investment performance[115]. - The company’s long-term borrowings decreased by 2.35% year-on-year, reflecting a reduction in debt obligations[118]. Risk Management - The company emphasizes the importance of risk awareness in its forward-looking statements regarding future plans and development strategies[6]. - The company is facing increased international operational risks, including sanctions and compliance risks, amid a complex global political and economic landscape[48]. - The company is addressing challenges in financing and project implementation due to rising debt risks in key markets[49]. - The company faces significant external risks, including increased uncertainty in international political situations and a slowdown in global trade[156]. - The company has established a financial derivative trading management approach to enhance risk management and control[136]. Corporate Governance - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and senior management[5]. - The company guarantees that all related transactions with North International will be conducted at fair market prices, ensuring no unfair advantages are given[176]. - The company has committed to maintaining the independence of North International's management and financial operations, ensuring no interference from the company[176]. - The company will ensure that North International has independent assets and financial systems, including separate bank accounts and tax obligations[176]. - The company has committed to avoiding any competition with North International and its subsidiaries post-restructuring, ensuring no direct or indirect investments in competing businesses[174]. Investment and Dividends - The company reported a cash dividend distribution plan for 2018 of RMB 0.80 per share, totaling RMB 61,560,432.80, which was 10.45% of the net profit[164][166]. - The company reported a cash dividend distribution plan for 2017 of RMB 1.20 per share, totaling RMB 61,560,432.84, which was 12.33% of the net profit[164][166]. - The company distributed a cash dividend of RMB 0.92 per 10 shares, totaling RMB 70,794,497.72, which represents 100% of the distributable profit[167]. - The total number of shares for the dividend distribution was based on 769,505,410 shares[167]. - The company is in a growth phase and has significant capital expenditure plans, with a minimum cash dividend ratio of 20% during profit distribution[167]. Compliance and Accounting - The company has implemented new financial instrument standards effective January 1, 2019, which require a shift to an expected credit loss model for impairment[184]. - The company has adjusted its accounting policies in accordance with the new financial instrument standards, impacting the recognition of credit losses earlier than under previous standards[184]. - The company has not experienced any significant changes in accounting policies or estimates compared to the previous financial year[181]. - The company adopted the prospective method for new debt restructuring standards effective January 1, 2019, with no retrospective adjustments for prior restructurings, which did not impact financial status or operating results[190].

Financial Performance - Net profit attributable to shareholders increased by 35.77% to CNY 134,679,484.94 for the reporting period[9] - Operating revenue for the period was CNY 2,810,056,942.67, reflecting a year-on-year increase of 15.93%[9] - Basic earnings per share rose by 38.46% to CNY 0.18[9] - The company reported a net profit of CNY 495,470,941.60 for the year-to-date, an increase of 12.25% compared to the same period last year[9] - The total comprehensive income for the current period was ¥141,288,639.08, compared to ¥121,479,999.55 in the previous period, reflecting a growth of 16.27%[87] - The net profit attributable to the parent company for the current period was ¥495,470,941.60, compared to ¥441,380,184.33 in the previous period, marking an increase of 12.3%[100] Cash Flow - Net cash flow from operating activities showed a significant decline of 206.45%, amounting to -CNY 1,072,381,947.97[9] - The company’s cash and cash equivalents decreased by 209.09% to CNY -1,460,676,862.46, primarily due to changes in operating and investing activities[22] - The net cash flow from operating activities was negative at approximately -¥1.07 billion, worsening from -¥347.92 million in the previous period[115] - Total cash inflow from operating activities was ¥1,752,773,854.60, down from ¥2,168,184,120.78, reflecting a decrease of approximately 19.1% year-over-year[121] - The net cash flow from investing activities was -¥28,967,153.49, an improvement from -¥122,820,565.45 in the previous period, indicating a reduced cash burn in investments[121] Assets and Liabilities - Total assets increased by 9.77% to CNY 12,565,911,424.88 compared to the end of the previous year[9] - Total current assets increased to ¥9,070,493,243.97 from ¥8,845,965,291.43, reflecting a growth of approximately 2.55%[64] - Total liabilities amounted to ¥7,518,383,334.24, compared to ¥6,839,163,343.71, showing an increase of approximately 9.93%[67] - Owner's equity grew to ¥5,047,528,090.64 from ¥4,608,810,863.90, reflecting an increase of about 9.55%[70] - Total liabilities reached CNY 6,839,163,343.71, with current liabilities at CNY 5,841,129,924.46 and non-current liabilities at CNY 998,033,419.25[131] Shareholder Information - The total number of shareholders at the end of the reporting period was 34,739[13] - The largest shareholder, China North Industries Group Corporation, holds 43.17% of the shares[13] - The company did not engage in any repurchase transactions during the reporting period[16] Investment and Contracts - Investment income increased by 340.76% to CNY 4,516,525.88, attributed to higher returns from long-term equity investments[22] - The company has signed a major sales contract for the Laos Xebangfai River irrigation project with a contract value of USD 1.5 billion, with cumulative revenue recognized of CNY 190,903,042.06 as of September 30, 2019[26] - The company confirmed revenue of CNY 140,189,119.99 from the Pakistan Lahore Metro Orange Line project during the reporting period, with cumulative revenue recognized of CNY 3,965,982,893.90[29] Financial Management and Governance - The company has committed to providing timely and accurate information regarding the restructuring process, ensuring no misleading statements or omissions that could cause losses to investors[35] - The company guarantees that the target assets for injection are legally established and fully paid-up, with no issues affecting their legal existence[35] - The company has undertaken to ensure that the target assets are free from legal disputes and encumbrances, and will handle any ownership transfer disputes that arise[35] - The company has committed to a 36-month lock-up period for shares acquired through the transaction, prohibiting any form of transfer during this time[35] - The company reported a commitment to maintain independence and reduce related party transactions, ensuring fair pricing in such transactions[39] Research and Development - Research and development expenses decreased to ¥2,452,620.04 from ¥3,475,021.31, a reduction of 29.4%[81] - Research and development expenses increased slightly to ¥4.90 million from ¥4.33 million, reflecting a growth of about 14.8%[105] Derivative Financial Instruments - The total derivative financial assets were not specified in the report, but the company adheres to the accounting standards for financial instruments[54] - The derivative investment is limited to foreign exchange forward contracts, with risk management measures in place to mitigate market and credit risks[54] Miscellaneous - The company reported no securities investments or entrusted financial management during the reporting period[43][44] - The company has not engaged in any non-compliant external guarantees during the reporting period[56] - There were no instances of non-operational fund occupation by controlling shareholders or related parties during the reporting period[57]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 3,818,092,472.90, a decrease of 6.82% compared to CNY 4,097,534,203.97 in the same period last year[22]. - Net profit attributable to shareholders was CNY 360,791,456.66, representing an increase of 5.44% from CNY 342,184,312.89 year-on-year[22]. - The net profit after deducting non-recurring gains and losses was CNY 358,873,188.27, up 10.43% from CNY 324,965,483.76 in the previous year[22]. - Basic earnings per share increased to CNY 0.47, up 6.82% from CNY 0.44 in the previous year[22]. - The company achieved a total operating revenue of 3.818 billion yuan and a net profit attributable to the parent company of 361 million yuan during the reporting period[51]. - The company reported a net investment income of ¥3,142,020.68, accounting for 0.73% of total profit[63]. - The company recorded an asset impairment of ¥15,470,366.87, which is 3.61% of total profit[63]. - The company reported a decrease in overseas direct investment by 5.9% year-on-year, totaling $53.8 billion in the first half of the year[93]. - The company faced a 3.4% decline in the revenue from foreign contracted projects, amounting to $70.27 billion, and a 0.8% decrease in new contract value, totaling $102.92 billion[93]. Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -849,936,916.17, a decline of 148.24% compared to CNY -342,382,703.49 in the same period last year[22]. - Total assets at the end of the reporting period were CNY 11,673,206,500.51, an increase of 1.97% from CNY 11,447,974,207.61 at the end of the previous year[22]. - The company's total assets reached approximately ¥11.67 billion, up from ¥11.45 billion, marking an increase of about 1.9%[193]. - The company's cash and cash equivalents decreased to approximately ¥3.21 billion from ¥4.41 billion, a decline of about 27% year-on-year[185]. - Accounts receivable increased significantly to approximately ¥3.34 billion, up from ¥2.38 billion, reflecting a growth of approximately 40.4%[185]. - Total liabilities decreased slightly to approximately ¥6.77 billion from ¥6.84 billion, a reduction of about 1%[193]. Investments and Projects - The company signed several significant projects, including a 1.6 billion USD project for the Bangladesh 1320MW ultra-supercritical coal-fired power plant and a 277 million USD project for the Mozambique power grid expansion[51]. - The company is actively pursuing international capacity cooperation and has made progress in the UAE drone project with the second batch of shipments underway[53]. - The company plans to issue convertible bonds totaling no more than 578.21 million RMB to acquire 76% of a Croatian energy project company and fund the construction of a 156MW wind power project[150]. - The company has signed EPC general contracting and construction contracts for the power supply project, which is expected to commence construction in the second half of the year[75]. Market Presence and Strategy - The company is engaged in international engineering contracting, domestic construction, heavy equipment export trade, logistics services, and solar product trade[30]. - The company has established a strong market presence in international engineering contracting, focusing on sectors such as rail transit, power, and oil and mineral facilities[32]. - The company has made significant progress in overseas investment, responding to the national "Belt and Road" initiative and expanding its market diversification[32]. - The company aims to enhance market expansion by focusing on high-quality markets and developing a comprehensive competitive advantage across the entire industry chain[93]. - The company is actively exploring domestic markets and markets outside the U.S. and its allies to mitigate the impact of tariffs on exports[97]. Related Party Transactions and Governance - The company has committed to avoid and reduce related party transactions with North International and its controlled enterprises, ensuring fair pricing and compliance with legal disclosure obligations[106]. - The company guarantees the independence of North International's management and financial operations, ensuring no interference from the parent company[106]. - The company has pledged to ensure that North International's governance structure operates independently, with its own board and management[106]. - The company reported a projected total of 5.214 billion yuan in related party transactions for 2019, with 2.084 billion yuan for purchasing goods and 3.130 billion yuan for selling goods and providing services[120]. Legal and Compliance - There were no significant litigation or arbitration matters during the reporting period[113]. - The company did not undergo any bankruptcy reorganization during the reporting period[112]. - The half-year financial report for the company was not audited[110]. - The company has not faced any penalties or rectification issues during the reporting period[114]. Shareholder Information - The total number of shares after the recent changes is 769,505,410, with a significant increase in the number of shares due to capital increase and conversion[157]. - The largest shareholder, China North Industries Group, holds 43.17% of shares, totaling 332,209,313 shares[161]. - The total number of ordinary shareholders at the end of the reporting period was 35,351[161].

Financial Performance - The company's operating revenue for Q1 2019 was ¥1,562,769,310.11, a decrease of 26.27% compared to ¥2,119,463,058.10 in the same period last year[9] - The net profit attributable to shareholders was ¥38,005,355.45, down 45.79% from ¥70,108,616.28 year-on-year[9] - The net profit after deducting non-recurring gains and losses was ¥37,008,759.42, a decrease of 28.45% compared to ¥51,726,941.72 in the previous year[9] - Basic earnings per share were ¥0.05, down 44.44% from ¥0.09 year-on-year[9] - The company reported a total comprehensive income of ¥19,516,711.58, significantly lower than ¥67,792,714.49 from the previous period, a decrease of approximately 71.2%[82] - The net profit for the current period is 30,882,142.22, compared to a net loss of 522,294.16 in the previous period[87] - Total comprehensive income for the current period is 30,905,836.16, significantly higher than 240,303.49 in the previous period[89] Cash Flow - The net cash flow from operating activities was -¥228,798,334.13, an improvement of 25.65% from -¥307,744,756.99 in the same period last year[9] - Cash flow from operating activities shows a net outflow of -228,798,334.13, an improvement from -307,744,756.99 in the previous period[93] - Cash inflow from sales of goods and services is 1,408,536,152.12, compared to 1,237,239,322.78 in the previous period[90] - Cash outflow for purchasing goods and services is 1,541,110,123.66, down from 1,592,211,841.51 in the previous period[93] - Cash flow from investing activities shows a net outflow of -244,805,003.19, compared to -10,339,029.79 in the previous period[95] - Cash flow from financing activities has a net outflow of -22,369,881.67, contrasting with a net inflow of 33,198,925.29 in the previous period[95] Assets and Liabilities - Total assets at the end of the reporting period were ¥11,090,612,233.42, a decrease of 3.12% from ¥11,447,974,207.61 at the end of the previous year[9] - Total current assets decreased from ¥8,845,965,291.43 to ¥8,534,398,038.13, a decline of approximately 3.5%[58] - Total non-current assets decreased from ¥2,602,008,916.18 to ¥2,556,214,195.29, a decline of about 1.8%[58] - Total liabilities decreased from ¥6,839,163,343.71 to ¥6,462,284,657.94, representing a decline of about 5.5%[61] - Total equity increased from ¥4,608,810,863.90 to ¥4,628,327,575.48, an increase of approximately 0.4%[64] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 34,257[12] - The largest shareholder, China North Industries Corporation, held 43.17% of the shares, totaling 332,209,313 shares[13] Government Subsidies and Other Income - The company received government subsidies amounting to ¥1,283,754.01 during the reporting period[9] - Other income for the period was ¥1,283,754.01, an increase of 6318.77% year-on-year, primarily due to government subsidies received by a subsidiary[20] Investments and Contracts - The company plans to issue convertible bonds totaling no more than ¥578,210,000 to acquire 76% of a Croatian energy project company and fund the construction of the "Seni 156MW Wind Power Project"[22] - As of the reporting period, cumulative revenue recognized from the Pakistan Orange Line project was ¥3,825,793,773.91, with revenue recognized during the reporting period amounting to ¥53,271,934.42[26] - The company has signed significant sales contracts, including a contract for the Laos Xebangfai River Basin irrigation project with a contract value of $1.5 billion, with cumulative revenue recognized of ¥190,903,042.06 as of March 31, 2019[24] Legal and Compliance Commitments - The company has committed to providing timely and accurate information regarding the restructuring process, ensuring that any false statements or omissions will result in legal liability[29] - The company has made a long-term commitment to avoid and reduce related party transactions, ensuring that any unavoidable transactions will be conducted at fair market prices[32] - The company has confirmed that there are no ongoing or foreseeable legal disputes regarding the ownership of the assets involved in the restructuring[32] Financial Management - Financial expenses for the period were ¥62,351,964.89, a decrease of 53.23% year-on-year, primarily due to a reduction in exchange losses compared to the previous year[20] - The company reported a decrease in financial expenses to ¥62,351,964.89 from ¥133,306,117.00, a reduction of approximately 53%[75] Inventory and Receivables - Accounts receivable at the end of the period amounted to ¥180,443,533.91, a decrease of 31.37% compared to the beginning of the year, primarily due to the endorsement transfer of notes[19] - The company's inventory decreased to ¥383,200,009.03 from ¥429,947,234.61, indicating a reduction of approximately 10.9%[55]

Financial Performance - The company's operating revenue for Q1 2019 was ¥1,562,769,310.11, a decrease of 26.27% compared to ¥2,119,463,058.10 in the same period last year[9] - Net profit attributable to shareholders was ¥38,005,355.45, down 45.79% from ¥70,108,616.28 year-on-year[9] - Basic and diluted earnings per share were both ¥0.05, a decrease of 44.44% from ¥0.09 in the same period last year[9] - Net profit for the current period was ¥39,481,590.16, a decline of 49.9% from ¥78,727,174.05 in the previous period[80] - The company recorded a total comprehensive income of ¥19,516,711.58, significantly lower than ¥67,792,714.49 in the previous period[83] - The net profit for the current period is 30,882,142.22, compared to a net loss of 522,294.16 in the previous period, indicating a significant turnaround[87] - Total comprehensive income for the current period is 30,905,836.16, compared to 240,303.49 in the previous period, showing a substantial increase[89] - The company reported a total profit of 37,175,367.66, compared to 1,286,497.33 in the previous period, highlighting improved profitability[87] Cash Flow - The net cash flow from operating activities was -¥228,798,334.13, an improvement of 25.65% compared to -¥307,744,756.99 in the previous year[9] - Cash flow from operating activities generated a net outflow of -228,798,334.13, an improvement from -307,744,756.99 in the previous period[93] - Cash inflow from sales of goods and services was 1,408,536,152.12, compared to 1,237,239,322.78 in the previous period, reflecting a growth in revenue[90] - Cash outflow for purchasing goods and services was 1,541,110,123.66, down from 1,592,211,841.51 in the previous period, indicating better cost management[93] - Cash flow from investing activities resulted in a net outflow of -244,805,003.19, compared to -10,339,029.79 in the previous period, suggesting increased investment activity[95] - Cash flow from financing activities showed a net outflow of -22,369,881.67, a decrease from a net inflow of 33,198,925.29 in the previous period, indicating reduced financing activities[95] - The ending cash and cash equivalents balance is 3,640,741,324.51, down from 3,760,391,439.72 in the previous period, reflecting a decrease in liquidity[95] Assets and Liabilities - Total assets at the end of the reporting period were ¥11,090,612,233.42, down 3.12% from ¥11,447,974,207.61 at the end of the previous year[9] - Total current assets decreased from ¥8,845,965,291.43 to ¥8,534,398,038.13, a decline of approximately 3.5%[59] - Total non-current assets decreased from ¥2,602,008,916.18 to ¥2,556,214,195.29, a decline of about 1.8%[59] - Total liabilities decreased from ¥6,839,163,343.71 to ¥6,462,284,657.94, representing a decline of about 5.5%[62] - Total current liabilities decreased from ¥5,841,129,924.46 to ¥5,526,919,922.49, a decline of about 5.4%[62] - Total non-current liabilities decreased from ¥998,033,419.25 to ¥935,364,735.45, a decrease of approximately 6.3%[62] - Owner's equity increased from ¥4,608,810,863.90 to ¥4,628,327,575.48, an increase of approximately 0.4%[65] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 34,257[14] - The largest shareholder, China North Industries Corporation, held 43.17% of the shares[14] - The company did not engage in any repurchase transactions during the reporting period[16] - The company confirmed that the share repurchase program is not applicable at this time[30] Government and Subsidies - The company reported a government subsidy of ¥1,283,754.01 during the period[9] - Other income for the period was CNY 1,283,754.01, an increase of 6318.77% year-on-year, primarily due to government subsidies received by a subsidiary[21] Investments and Contracts - The company plans to issue convertible bonds totaling no more than CNY 578.21 million to acquire 76% of the shares of a Croatian energy project company and to fund the construction of the "Seni 156MW Wind Power Project"[23] - As of the reporting period, cumulative revenue recognized from the Pakistan Lahore Orange Line project amounted to CNY 3,825,793,773.91, with revenue recognized during the reporting period of CNY 53,271,934.42[27] - The company has signed significant sales contracts, including a contract for the Laos Xebangfai River Basin irrigation and flood control project with a contract value of USD 1.5 billion, with cumulative revenue recognized of CNY 190,903,042.06 as of March 31, 2019[25] - The company announced a significant contract for the construction of the Bogura 2X660MW coal-fired power plant in Bangladesh, with a total contract value of $1.574 billion and 22.06 billion Bangladeshi Taka[30] Operational Commitments - The company is committed to providing accurate and complete information regarding the restructuring process, ensuring no false records or omissions that could harm investors[30] - The company has made long-term commitments regarding the ownership and legal rights of the assets involved in the restructuring, ensuring no legal disputes or encumbrances exist[30] - The company has pledged to avoid any competition with its subsidiaries post-restructuring and will prioritize business opportunities for its subsidiaries[30] - The company has committed to reducing related party transactions and ensuring fair pricing in any unavoidable transactions[30] - The company reported a significant focus on maintaining the independence of its operations and management, ensuring that key personnel do not hold positions in affiliated companies[38] - The company has pledged to avoid engaging in any business that competes with North International, ensuring compliance with relevant laws and regulations regarding related party transactions[39] Financial Standards and Audits - The company did not undergo an audit for the first quarter report[102] - The company has not applied new financial instrument standards or new revenue standards for the first quarter[102]

Financial Performance - The company's operating revenue for 2018 was ¥9,981,409,795.74, representing a 2.58% increase from ¥9,730,031,617.16 in 2017[22]. - The net profit attributable to shareholders for 2018 was ¥589,176,078.24, an 18.01% increase from ¥499,253,441.50 in 2017[22]. - The basic earnings per share for 2018 was ¥0.77, up 18.46% from ¥0.65 in 2017[22]. - Total assets at the end of 2018 were ¥11,447,974,207.61, a slight decrease of 0.14% from ¥11,464,595,733.06 at the end of 2017[22]. - The net assets attributable to shareholders increased by 14.39% to ¥4,177,504,633.46 from ¥3,651,897,513.29 at the end of 2017[22]. - The company achieved a total operating revenue of 9.981 billion yuan and a net profit attributable to the parent company of 589 million yuan, marking a historical high in both metrics[62]. - The company reported a decrease in cash receipts from international engineering projects compared to the previous year, primarily due to concentrated collections in the prior year[70]. - The company reported a cumulative cost incurred of CNY 2.5 billion and a cumulative gross profit of CNY 245 million for completed projects[87]. Business Operations and Strategy - The company completed a major asset restructuring, acquiring 100% equity of North Vehicle, 51% of North Logistics, 51% of North Electromechanical, 51% of North New Energy, and 99% of Shenzhen Huate, shifting its main business focus to international engineering contracting and heavy equipment export trade[19]. - As of 2018, the company's main business no longer includes real estate after selling 80% equity of North International Real Estate, focusing instead on international engineering contracting, domestic construction, and solar product trade[19]. - The company operates in various sectors, including logistics services, solar product trade, and metal packaging container production, reflecting a diversified business model[19]. - The company is actively expanding its international engineering business through the EPC model, focusing on projects like the Laos San Pa Hydropower Station and the Croatia Sini Wind Power Project[48]. - The company has established a comprehensive international engineering contracting capability, focusing on sectors such as rail transit and power facilities[32]. - The company is focusing on developing a systematic competitive advantage across the entire industry chain in its international engineering segment[48]. - The company plans to continue focusing on international projects and expanding its market presence in overseas regions[77]. Risk Management and Compliance - The company emphasized the importance of risk awareness in its future plans and development strategies, urging investors to pay attention to investment risks[5]. - The company’s financial report was confirmed to be true, accurate, and complete by its board of directors and management, ensuring accountability for any misleading statements or omissions[5]. - The company has a commitment to continuous improvement and innovation in its business operations, as indicated by its focus on new technologies and market expansion strategies[19]. - The company faces significant external risks, including increased uncertainty in international political situations and a fragile international financial market, which may impact profitability[160]. - The company has been involved in discussions regarding the impact of the US-China trade war on its operations, highlighting the need for strategic adjustments[161]. - The company is actively monitoring the impact of currency fluctuations, particularly the appreciation of the RMB, on its business performance[161]. Shareholder and Dividend Information - The company reported a total share capital of 769,505,410 shares as of December 31, 2018, with a cash dividend of 0.80 CNY per 10 shares (including tax) proposed for distribution to all shareholders[5]. - The total cash dividend for 2018 is RMB 61,560,432.80, which accounts for 10.45% of the net profit attributable to ordinary shareholders[174]. - The cash dividend represents 100% of the total distributable profit of RMB 589,176,078.24 for the year[175]. - The cash dividend payout ratio is in compliance with the minimum requirement of 20% for companies in a growth phase with significant capital expenditure plans[175]. - The company is committed to maintaining a clear and transparent cash dividend policy, ensuring that minority shareholders' rights are protected[170]. Asset Management and Investments - The company has established a comprehensive quality management system and has not encountered any major project quality issues during the reporting period[49]. - The company has pledged accounts receivable amounting to CNY 30,741,010.07 and export orders valued at CNY 38,000,000.00 to secure a loan of CNY 67,993,104.80[119]. - The company has engaged in foreign exchange forward contracts with initial investment amounts of CNY 21,173.04 and CNY 4,859.40, with reported losses of CNY 58.4 and CNY 33.19 respectively[128]. - The company has committed to providing accurate and complete information related to its restructuring and will bear responsibility for any losses caused by misinformation[178]. - The company has confirmed that it holds all legal rights to the assets involved in the restructuring and that there are no legal disputes affecting these assets[178]. Performance Commitments and Restructuring - The profit commitment for North Vehicle for the years 2016, 2017, and 2018 is set at 60.2 million, 70.5 million, and 80 million respectively[188]. - North Logistics is committed to a net profit of 11.12 million, 13 million, and 14 million for the years 2016, 2017, and 2018 respectively[188]. - North Mechanical's profit commitment for the same years is 12 million, 14 million, and 17 million respectively[188]. - The total actual performance of North Vehicle, North Logistics, North Mechanical and Electrical, North New Energy, and Shenzhen Huate in 2018 was 122.88 million, exceeding the cumulative forecast of 121.5 million[199]. - The company has successfully fulfilled its commitments regarding the lock-up period for shares acquired during the non-public offering, with the lock-up period ending on June 15, 2018[196].

Financial Performance - Total assets at the end of the reporting period reached ¥11,928,252,234.16, an increase of 4.04% compared to the end of the previous year[8] - Net assets attributable to shareholders of the listed company amounted to ¥4,036,387,482.67, reflecting a growth of 10.53% year-on-year[8] - Operating revenue for the reporting period was ¥2,423,887,427.10, representing a year-on-year increase of 39.49%[8] - Net profit attributable to shareholders of the listed company was ¥99,195,871.44, a decrease of 33.74% compared to the same period last year[8] - Basic earnings per share were ¥0.13, down 55.17% year-on-year[8] Asset and Liability Changes - Accounts receivable at the end of the period increased by 36.06% to ¥2,921,835,028.51, primarily due to new international engineering projects[16] - Construction in progress increased by 58.62% to ¥36,777,208.10, mainly due to the acquisition of ENERGIJA PROJEKT d.d.[16] - Other non-current assets rose by 33.82% to ¥17,415,599.72, attributed to increased prepayments for equipment by a subsidiary[16] - The ending balance of advance receipts was CNY 742,545,493.89, a decrease of 37.78% compared to the beginning of the year, primarily due to the write-off of advance receipts for international engineering projects[17] - The ending balance of taxes payable was CNY 88,247,728.50, an increase of 36.83% compared to the beginning of the year, mainly due to an increase in corporate income tax payable[17] - The ending share capital was CNY 769,505,410.00, an increase of 50.00% compared to the beginning of the year, primarily due to the conversion of capital reserves into share capital[17] Cash Flow and Financial Expenses - The company reported a net cash flow from operating activities of -¥347,917,076.98, a decline of 126.32% year-on-year[8] - Financial expenses for the period amounted to -CNY 184,923,572.00, a decrease of 413.51% year-on-year, mainly due to exchange gains from the fluctuation of the RMB against the USD[17] - Cash received from the sale of goods and services was CNY 4,960,011,508.41, a decrease of 31.28% compared to the same period last year, primarily due to a decrease in collections from international engineering projects[17] - Cash received related to investment activities was CNY 274,300,560.15, mainly due to the release of restrictions on time deposits over three months[18] - Cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets was CNY 57,178,334.55, a decrease of 85.20% year-on-year, primarily due to the investment in the Laos Nam Ngum hydropower project in the previous year[18] - Cash received from obtaining loans was CNY 296,350,462.74, a decrease of 61.57% compared to the same period last year, mainly due to long-term loans obtained by the subsidiary Nam Ngum Power Company in the previous year[18] - Cash paid for dividends, profits, or interest was CNY 202,754,546.83, an increase of 267.87% year-on-year, mainly due to an increase in dividend distribution for 2017 and increased interest payments on loans[18] Major Contracts and Commitments - The company is currently executing several major contracts, including the Lahore Orange Line project in Pakistan with a contract value of USD 1.626 billion, and the Addis Ababa-Djibouti railway vehicle procurement project with a contract value of USD 259 million[21] - The company has committed to providing timely and accurate information related to the restructuring, ensuring that any misleading statements or omissions will result in legal liability[22] - The company has confirmed that the target company is a legally established entity with fully paid registered capital, ensuring no issues affecting its legal existence[22] - The company has pledged to avoid any conflicts of interest with North International and its subsidiaries post-restructuring, ensuring no direct or indirect competition[23] - The company will ensure that any related transactions are conducted at fair market prices, adhering to legal and regulatory requirements[23] Related Party Transactions and Governance - The company has committed to timely asset ownership changes and will bear responsibility for any disputes arising from these changes[22] - The company will compensate for any economic losses incurred by its subsidiaries due to potential lease issues with properties lacking ownership certificates[23] - The company has a 36-month lock-up period for shares acquired through the transaction, prohibiting any form of transfer during this time[23] - The company will not engage in any business that competes with North International or its subsidiaries after the restructuring is completed[23] - The company has committed to ensuring that any related party transactions are disclosed and conducted fairly, preventing any illegal transfer of funds or profits[23] - The company will facilitate the transfer of controlling interests in certain subsidiaries to unrelated third parties to resolve potential competition issues post-restructuring[23] - The company committed to maintaining independence in operations and management for North International, ensuring no preferential treatment in transactions compared to independent third parties[24] - The company guarantees that North International's senior management will only serve in North International and will not hold positions in the company or its subsidiaries[24] - The company ensures that North International has independent financial management and accounting systems, including separate bank accounts[24] - The company will avoid and minimize related party transactions with North International, ensuring fair pricing based on independent third-party transactions[24] - The company is committed to maintaining the independence of North International's assets, ensuring no occupation of funds or assets by the company[24] - The company guarantees that North International will independently conduct business activities and maintain the ability to operate sustainably in the market[24] - The company will not interfere with North International's financial decisions and will ensure compliance with legal and regulatory requirements[24] - The company has established a commitment to avoid conflicts of interest and ensure fair treatment of all shareholders in related party transactions[24] - The company will participate in North International's shareholder meetings and exercise shareholder rights without seeking undue benefits[24] - The company is focused on maintaining a clear governance structure for North International, ensuring independent decision-making processes[24] Profit Commitments and Compensation - The profit commitment amounts for the four target companies are as follows: North Vehicle's net profit for 2016, 2017, and 2018 is projected to be CNY 60.20 million, CNY 70.50 million, and CNY 80.00 million respectively[25] - North Logistics is expected to achieve net profits of CNY 11.12 million, CNY 13.00 million, and CNY 14.00 million for the years 2016, 2017, and 2018 respectively[25] - North Electromechanical's net profit commitments are CNY 12.00 million, CNY 14.00 million, and CNY 17.00 million for 2016, 2017, and 2018 respectively[25] - North New Energy's projected net profits are CNY 3.00 million, CNY 4.00 million, and CNY 5.00 million for the years 2016, 2017, and 2018 respectively[25] - The profit compensation period is defined as three consecutive accounting years, including the year of transaction completion, specifically 2016, 2017, and 2018[25] - If the actual net profit falls below the committed amount, the counterparty is obligated to compensate the listed company according to the agreement[25] - The compensation amount is calculated based on the formula: (Cumulative committed net profit - Cumulative realized net profit) / Total committed net profit over the compensation period[25] - The company will conduct impairment testing on the target assets at the end of the profit compensation period, with compensation required if impairment exceeds cumulative compensation already provided[25] - The counterparty's compensation responsibility is limited to the total number of shares subscribed through this transaction and the cash consideration received[25] - The performance compensation period for Shenzhen Huate's patent technology and land use rights is also set for three consecutive accounting years following the completion of the transaction[25] - The expected net profit for the year 2018 is projected to be 28.76 million yuan, 33.53 million yuan, and 39.41 million yuan for the respective periods[26] - The company has a cash compensation obligation not exceeding 80.935 million yuan in case of profit compensation requirements[26] - The company will conduct impairment tests on patent technology and land use rights at the end of the compensation period, with compensation amounts calculated based on the impairment[26] Compliance and Investment Activities - There are commitments to not interfere with the management activities of the company and to avoid conflicts of interest[27] - The company has not engaged in any securities investments during the reporting period[28] - There are no instances of entrusted financial management during the reporting period[29] - The company has not participated in any derivative investments during the reporting period[30] - The company has conducted several communications regarding the impact of currency fluctuations on performance and international engineering gross margin increases[32] - There are no violations of external guarantees during the reporting period[33] - There are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[34]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 4,097,534,203.97, a decrease of 17.85% compared to CNY 4,987,810,407.39 in the same period last year[17]. - The net profit attributable to shareholders of the listed company increased by 72.45% to CNY 342,184,312.89, up from CNY 198,427,350.06 in the previous year[17]. - Basic earnings per share rose by 69.23% to CNY 0.44, compared to CNY 0.26 in the previous year[17]. - The total operating revenue for the first half of 2018 was CNY 4,097,534,203.97, a decrease of 17.8% compared to CNY 4,987,810,407.39 in the same period of 2017[145]. - The net profit attributable to the parent company was CNY 342,184,312.89, representing an increase of 72.5% from CNY 198,427,350.06 in the previous year[146]. - The total comprehensive income for the first half of 2018 was CNY 340,667,869.88, compared to CNY 201,528,165.97 in the same period last year, showing an increase of 68.9%[146]. - The total operating costs decreased to CNY 3,645,528,382.32, down 23.1% from CNY 4,743,844,872.84 in the prior year[145]. - The company reported an operating profit of CNY 452,000,419.98, which is a significant increase from CNY 252,874,094.90 in the previous year[145]. Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -342,382,703.49, a decline of 117.22% compared to CNY 1,987,855,706.96 in the same period last year[17]. - Cash and cash equivalents decreased by 4.64% to ¥4,432,489,420.13, accounting for 37.98% of total assets[53]. - Total current assets as of June 30, 2018, amounted to CNY 9,466,249,845.17, an increase from CNY 9,241,095,605.39 at the beginning of the period, representing a growth of approximately 2.45%[135]. - The total assets at the end of the reporting period amounted to CNY 4,329,087,893.99, compared to CNY 4,124,492,582.49 in the previous year, reflecting a growth of approximately 4.97%[164]. - The total liabilities at the end of the reporting period were CNY 1,524,595,069.20, compared to CNY 1,400,163,698.90 in the previous year, reflecting an increase of approximately 8.9%[169]. Investments and Projects - The company signed projects worth a total of 709 million USD during the reporting period[41]. - The Lahore Orange Line project in Pakistan has completed 88% of civil engineering and 69.96% of electromechanical engineering[41]. - The company successfully transported 30 freight cars for the Addis Ababa-Djibouti railway project, marking the commencement of commercial operations between Ethiopia and Djibouti[41]. - The company has ongoing contracts worth USD 1.62 billion for the Addis Ababa-Djibouti railway vehicle procurement project, with confirmed revenue of USD 35.30 million[105]. - The company has a significant contract for the construction of the Geshm Gas-to-Polypropylene Chemical Plant in Iran, valued at RMB 10.13 billion, which is also yet to commence[106]. Market Expansion and Strategy - The company is focusing on expanding its international engineering contracting business, particularly in rail transit, power, and mineral facilities construction[26]. - The company plans to enhance overseas market expansion through overseas investments, mergers and acquisitions, and strategic alliances[26]. - The company has established a strong market development capability, leveraging its brand and channel advantages[37]. - The company successfully entered five new markets including UAE, Sudan, and Congo, contributing to a revenue of CNY 5,960,000,000.00 from the vehicle segment[43]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares for the year[6]. - The company has committed to timely and accurate information disclosure related to asset restructuring, ensuring compliance with legal obligations[75]. - The company has established a commitment to maintain fair treatment in transactions with North International, ensuring transparency and accountability[77]. - The company will fulfill its obligations as a major shareholder of North International, ensuring compliance with relevant laws and regulations regarding related party transactions[77]. Related Party Transactions - The company guarantees that it will not use related party transactions to illegally transfer funds or profits from the listed company, protecting the interests of non-related shareholders[77]. - The company will avoid conflicts of interest during voting on related party transactions at North International's shareholder meetings[77]. - The company has committed to avoiding and reducing related party transactions with North International, ensuring fair pricing comparable to independent third parties[77]. Financial Commitments and Performance Guarantees - The profit commitment period for the transaction is defined as the three consecutive fiscal years of 2016, 2017, and 2018[78]. - If the actual net profit does not meet the committed figures, North Technology must compensate the listed company with shares obtained from the transaction[79]. - The compensation period for the performance guarantee is set for three consecutive fiscal years following the completion of the transaction, covering 2016, 2017, and 2018[79]. Miscellaneous - The company has not implemented any equity incentive plans or employee stock ownership plans during the reporting period[86]. - There are no major litigation or arbitration matters reported during the reporting period[84]. - The company has no penalties or rectification situations during the reporting period[84].

Dividend Distribution - The company plans to distribute a cash dividend of 1.20 CNY per 10 shares (including tax) to all shareholders, based on a total of 513,003,607 shares[4]. - In 2017, the cash dividend amount was CNY 61,560,432.84, representing 12.33% of the net profit attributable to ordinary shareholders of CNY 499,253,441.50[135]. - The cash dividend per 10 shares was CNY 1.20, with a total cash dividend distribution of CNY 61,560,432.84 based on a total share capital of 513,003,607 shares[135]. - The cash dividend accounted for 100% of the total profit distribution, with a distributable profit of CNY 1,844,070,134.89[135]. - The company did not propose a cash dividend distribution plan despite having positive net profit available for distribution to ordinary shareholders[135]. - In 2016, the company distributed a cash dividend of RMB 0.9 per 10 shares, totaling RMB 46,170,324.63[131]. Business Transformation and Operations - The company has undergone significant business transformations, with its main operations now including international engineering contracting, real estate, and heavy equipment export trade[15]. - The company completed a major asset restructuring in 2016, acquiring 100% of North Vehicle and 51% of North Logistics, among others, which expanded its operational scope[15]. - The company is focusing on market expansion and new technology development to enhance its competitive edge in the industry[11]. - The company is actively pursuing new strategies for growth, including potential mergers and acquisitions in related sectors[11]. - The company is transitioning to new business models such as BOT and PPP to enhance overseas market expansion and has made significant investments in these areas[42]. Financial Performance - The company's operating revenue for 2017 was ¥9,730,031,617.16, an increase of 11.05% compared to ¥8,761,923,443.60 in 2016[18]. - The net profit attributable to shareholders for 2017 was ¥499,253,441.50, representing an 8.29% increase from ¥461,048,956.55 in 2016[18]. - The net cash flow from operating activities surged to ¥1,322,880,092.92, a significant increase of 818.27% compared to ¥144,061,811.84 in 2016[18]. - The basic earnings per share for 2017 was ¥0.97, a slight increase of 2.11% from ¥0.95 in 2016[18]. - The company achieved operating revenue of 9.73 billion yuan, an increase of 11.05% year-on-year, and a net profit attributable to shareholders of 500 million yuan, up 8.35% year-on-year[60]. Market Expansion and International Projects - The company actively expanded its overseas market presence, particularly in regions such as Asia, Africa, and the Middle East, in response to the "Belt and Road" initiative[27]. - The company signed contracts worth 3.82 billion USD, with 11 projects located in countries along the "Belt and Road" initiative, including a 1.5 billion USD project in Iran[55]. - The company is currently executing the Myanmar copper mine project with a total contract value of $700 million, with confirmed revenue of ¥624,150,765.75 and cumulative revenue of ¥3,198,457,380.86[74]. - The company has four unfinished projects with a total value of 1.6 billion USD, with recognized revenue of approximately 767 million yuan[68]. - The company has several major projects in the pipeline, including the Tehran Metro Line 6 project and the Guinea-Bissau Saltinho Hydropower Station project, both of which are in the bidding stage[74]. Risk Management and Challenges - The company has identified potential risks in its future operations, which are detailed in the management discussion section of the report[4]. - The company faces risks from international political uncertainties, increased competition in the "Belt and Road" initiative, and potential debt default risks in certain countries[123]. - The company has faced delays in project execution due to land acquisition issues and logistical challenges, impacting the overall project timelines[71]. Subsidiaries and Acquisitions - The company’s controlling shareholder is China North Industries Group Corporation, following a series of ownership changes since its listing[15]. - The company completed the acquisition of a 25% stake in Panyu Fumen Garden Real Estate Co., Ltd., making it a wholly-owned subsidiary[80]. - The company has committed to ensuring the stability of its subsidiaries' operations and compensating for any losses incurred due to lease issues[136]. - The company guarantees the independence of North International's management and financial operations, ensuring no interference from the company[139]. Corporate Governance and Compliance - The company’s financial report has been verified for accuracy and completeness by its management team, ensuring transparency for investors[4]. - The company has committed to providing timely information related to restructuring and ensuring the accuracy and completeness of the information provided[136]. - The company has made commitments to maintain independence and gradually reduce related party transactions[142]. - The company will ensure compliance with relevant laws and regulations regarding related party transactions[140]. Research and Development - Research and development investment amounted to ¥160,151,372.16 in 2017, representing a 12.15% increase compared to 2016, and accounted for 1.65% of operating revenue[88]. - The company engaged in eight R&D projects, with four focused on rail transit systems, indicating a commitment to technological advancement[86]. Shareholder Structure and Capital Changes - The total number of shares before the change was 513,003,607, with a decrease of 7,738,095 shares due to the lifting of restrictions on shares held by certain asset management companies[187]. - The largest shareholder, China North Industries Group Corporation, holds 43.17% of the shares, totaling 221,472,875 shares, with no changes reported[194]. - The company will increase its share capital by 256,501,803 shares through a capital reserve conversion, with a ratio of 5 shares for every 10 shares held[131]. - The company has not issued any preferred shares during the reporting period[192].