高升控股股份有限公司 2022 年第一季度报告 证券代码：000971 证券简称：ST 高升 公告编号：2022-53 号 高升控股股份有限公司 2022 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性 陈述或者重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、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。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报 告中财务信息的真实、准确、完整。 3.第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增 | | --- | --- | --- | --- | | | | | 减 | | 营业收入（元） | 114,408,064.10 | 174,015,385.71 | -34.25% | | 归属于上市公司股东的净利润（元） | -51,608,921.08 ...

Financial Performance - The company's operating revenue for 2021 was ¥718,980,667, a decrease of 17.78% compared to ¥874,483,407 in 2020[26]. - The net profit attributable to shareholders for 2021 was -¥489,126,738, representing a decline of 515.10% from a profit of ¥100,970,215 in 2020[26]. - The cash flow from operating activities for 2021 was -¥190,265,665, a decrease of 172.94% compared to ¥166,071,996 in 2020[26]. - The total assets at the end of 2021 were ¥1,661,849,951.80, down 20.34% from ¥2,086,308,720.00 at the end of 2020[26]. - The net assets attributable to shareholders decreased by 34.03% to ¥765,238,030.49 at the end of 2021 from ¥1,159,915,661.00 at the end of 2020[26]. - The basic earnings per share for 2021 was -¥0.47, a decline of 527.27% from ¥0.10 in 2020[26]. - The company reported a significant increase in non-operating losses, with the net profit excluding non-recurring gains and losses being -¥556,519,757 for 2021[26]. - The total operating revenue for the year 2021 was approximately ¥718.98 million, representing a decrease of 17.78% compared to ¥874.48 million in 2020[56]. - The company reported a total non-operating income of 67,393,019.44, a decrease of 69.4% compared to 2020's 219,360,307.41[34]. Legal and Compliance Issues - The company reported a total liability of approximately 2,157.40 million RMB due to unauthorized guarantees, with a remaining balance of about 645.91 million RMB as of the report date[6]. - The company has faced legal issues regarding unauthorized guarantees that may significantly impact its financial status and shareholder interests[6]. - The company has a significant portion of its assets frozen due to legal disputes, impacting its liquidity and operational flexibility[90]. - The company is actively pursuing legal actions and negotiations to resolve remaining illegal guarantees and fund occupation issues[199]. - The company successfully resolved 9 instances of illegal guarantees and fund occupation, totaling approximately 1.3 billion yuan (around 194 million USD)[199]. Business Transformation and Strategy - The company has undergone significant business transformation, shifting from textile production to internet cloud services since 2015[24]. - The company has focused on digital economy trends, enhancing its comprehensive cloud service industry chain, and aims to be a leading integrated cloud service provider in China[41]. - The company is transitioning from a "cloud-pipe-end" integrated platform to an "cloud-network-edge-end" open collaborative strategic architecture, focusing on 5G and IoT[123]. - The company aims to enhance its industrial internet service capabilities, targeting government and state-owned enterprises, and plans to launch a digital copyright protection and trading platform[125]. - The company is facing intensified market competition in the comprehensive cloud service sector, prompting it to strengthen regional market service systems and integrate upstream and downstream resources[127]. Research and Development - Continuous investment in technology innovation and R&D has been a key driver for maintaining competitiveness in niche markets[47]. - R&D investment amounted to ¥50,374,650.79 in 2021, an increase of 14.40% from ¥44,033,837.61 in 2020[77]. - The number of R&D personnel increased to 181 in 2021, a rise of 4.62% from 173 in 2020[76]. - The company completed several key R&D projects, including the Smart Kitchen Management System and the Smart Canteen Management System, aimed at enhancing market competitiveness[74]. - The company has developed a multi-cloud heterogeneous integration management system to enhance customer choice and operational flexibility[74]. Governance and Management - The company has a structured governance framework with a board of directors, supervisory board, and independent directors to ensure effective checks and balances[140]. - The company operates independently from its controlling shareholders in terms of business, personnel, assets, organization, and finance, ensuring complete operational autonomy[139]. - The company has established an independent financial department with its own accounting system, allowing for independent financial decision-making and management[140]. - The annual shareholders' meeting had a participation rate of 31.57% on June 29, 2021[141]. - The board of directors held a total of 8 meetings during the reporting period, with all members actively participating[176]. Market and Revenue Growth - The company reported a significant increase in revenue, with a year-over-year growth of 25% in 2021, reaching 1.25 billion RMB[158]. - The user base expanded to 10,041 million in 2021, indicating a growth of 30% compared to the previous year[144]. - The company has set a future revenue target of 90,000 million by 2025, aiming for a compound annual growth rate (CAGR) of 15%[145]. - Future guidance indicates an expected revenue growth of 25% year-over-year for the next fiscal year, driven by new product launches and market expansion[145]. Employee and Compensation - The total number of employees at the end of the reporting period was 754, with 724 from major subsidiaries[183]. - The total employee compensation during the reporting period was 90.84 million yuan, accounting for 13% of the total company costs[186]. - The total remuneration for the chairman and CEO, Zhang Dai, was CNY 1.7 million[172]. - The total remuneration for the independent directors, Chen Guoxin, Lei Da, Zhao Liang, and Tian Yingchun, was CNY 238,100 each[172]. Financial Management and Internal Controls - The company has established a scientific and effective internal control system to mitigate operational risks[191]. - The internal control audit report issued a standard unqualified opinion, confirming the effectiveness of the internal controls[197]. - The company has conducted various training programs, including new employee orientation and professional skills training, to enhance employee capabilities[187]. - There were no significant internal control deficiencies identified during the reporting period[192].

Financial Performance - The company reported a net profit attributable to shareholders of the listed company for 2019 as negative, continuing from the negative net profit in 2018[6]. - The company's operating revenue for 2019 was ¥824,623,140, representing a decrease of 8.46% compared to ¥900,826,494 in 2018[22]. - The net profit attributable to shareholders was -¥604,548,184, a significant improvement of 73.97% from -¥2,322,911,402 in the previous year[22]. - The net profit excluding non-recurring gains and losses was -¥663,171,501, which is a 61.80% improvement from -¥1,735,931,689 in 2018[22]. - The cash flow from operating activities showed a substantial increase of 948.33%, reaching ¥166,071,996 compared to ¥15,841,546 in 2018[22]. - Basic and diluted earnings per share improved to -¥0.56 from -¥2.13 in 2018, marking a 75.11% increase[23]. - The total assets at the end of 2019 were ¥2,308,000,679, down 31.08% from ¥3,348,614,690 in 2018[23]. - The net assets attributable to shareholders decreased by 42.28% to ¥1,042,082,299 from ¥1,805,461,380 in the previous year[23]. - The company reported a significant increase in expected liabilities, which rose to ¥711,159,900, up from ¥620,242,400, an increase of ¥90,917,500[26]. - The net profit after adjustments was -¥2,322,663,274.47, reflecting a decrease of ¥126,877,800 from the previous reported figure[26]. Corporate Governance and Compliance - The company is under continued delisting risk warning due to consecutive years of negative net profit[7]. - The company has engaged a special audit firm, which issued a qualified opinion on the financial report for the year[6]. - The company emphasizes the importance of risk awareness for investors regarding future plans and forecasts[7]. - The company has appointed a financial advisor for continuous supervision during the reporting period[21]. - The company has committed to not providing any form of guarantees or financial support to related parties without board approval, ensuring compliance with regulations[139]. - The company has pledged to eliminate any illegal occupation of its funds or assets, reinforcing its commitment to financial integrity[139]. - The company has made a commitment to not transfer benefits to other units or individuals under unfair conditions, protecting its interests[139]. - The company has been placed under risk warnings due to violations related to external guarantees and non-operating fund occupation, which it is actively working to resolve[124]. - The company’s stock has been under "delisting risk warning" since April 30, 2019, due to consecutive years of negative audited net profits[124]. - The company has acknowledged that the failure to meet planned progress or expected returns is primarily due to intense market competition and limited bargaining power[107]. Market and Industry Trends - The IDC market in China reached a total scale of 156.25 billion, with a year-on-year growth of 27.2% in 2019[38]. - The third-party cloud management service market in China was valued at 560 million, with a growth rate of 86.2% in 2019, projected to reach 3.21 billion by 2023[37]. - The demand for virtual private networks (VPN) is increasing as hybrid cloud scenarios become the preferred architecture for government and enterprise clients[38]. - The digital transformation trend is accelerating, significantly expanding the cloud infrastructure and management services market[39]. - The company is positioned to benefit from the ongoing upgrade cycle in communication infrastructure driven by 5G and industrial internet advancements[39]. Strategic Initiatives and Future Outlook - The company plans to optimize its cost structure and enhance operational efficiency through diversified cooperation with telecom operators[50]. - The company aims to strengthen its customer-centric approach and improve integrated solutions to meet the growing demand for digital transformation services[57]. - The company is actively seeking strategic partnerships and investments in upstream and downstream resources to expand its strategic cooperation and enhance its service offerings[121]. - The company plans to deepen its integrated layout of cloud management and terminal resources to build competitive barriers in the cloud service business[111]. - The company is focusing on integrating upstream and downstream product services to meet the digital transformation needs of enterprise users[116]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its service offerings[190]. Legal and Regulatory Issues - The company is currently involved in litigation with China Huarong Asset Management Co., Ltd. with a claim amount of ¥67,123.39, which has been recognized as an estimated liability[167]. - The company also faces a lawsuit from Ningbo Huahu Yinshi Investment Center (Limited Partnership) regarding a loan guarantee contract dispute, with an involved amount of ¥1,925.26, also recognized as an estimated liability[167]. - The company is currently involved in multiple legal disputes, with claims totaling over 60,000 million yuan across various cases[169]. - The company has received public reprimands from the Shenzhen Stock Exchange for failing to disclose significant changes in transactions and for the actual controller's unfulfilled commitments[171]. - The company was fined 600,000 yuan by the China Securities Regulatory Commission for failing to disclose related party transactions in its 2017 annual report[172]. Research and Development - The company has accumulated 184 software copyrights and 8 patents, showcasing its strong R&D capabilities[46]. - Research and development (R&D) expenses increased by 35.03% to CNY 40,903,841.77, which is 4.96% of the operating revenue[80]. - The number of R&D personnel rose by 23.37% to 227, increasing their proportion to 25.17% of the total workforce[80]. - The company has developed a range of high-value-added products, including CMP, BVP, ITOM, and APM, enhancing its service offerings across various industries[80]. Financial Commitments and Shareholder Relations - The company reported a total of 111,360 million RMB raised from a private placement, with a net amount of 1,113,609,658.51 RMB after deducting fees[104]. - The company has committed to fulfilling performance promises related to share unlock arrangements as per the asset purchase agreements[133]. - The net profit attributable to the parent company for 2019 was RMB 87.22 million, showing an increase compared to the previous years' total net profit of RMB 23.09 million from 2017 to 2018[134]. - The cumulative net profit for 2017, 2018, and 2019 is expected to exceed RMB 220.45 million, fulfilling the performance commitment[134]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in 2019, representing a growth of 15% compared to the previous year[136]. Operational Metrics - The company reported a total revenue of 377,618.75 million yuan for the year 2019, with a significant increase in warehouse operations[190]. - The company has a total of 5,951.97 square meters of leased space in Shanghai, with monthly rent increasing to 290,728.94 yuan by 2032[191]. - The company is investing in new technology and infrastructure to enhance its logistics capabilities, aiming for improved efficiency and service delivery[190]. - The company has reported a consistent increase in user data and operational metrics, indicating a positive trend in customer engagement and service utilization[190].

Financial Performance - The company's operating revenue for 2020 was ¥874,483,407.88, representing a 6.05% increase compared to ¥824,623,140.36 in 2019[22]. - The net profit attributable to shareholders for 2020 was ¥117,833,370.54, a significant recovery from a loss of ¥604,548,184.01 in 2019, marking a 119.49% improvement[22]. - The net cash flow from operating activities for 2020 was -¥69,710,329.68, a decline of 141.98% from ¥166,071,996.37 in 2019[22]. - The basic earnings per share for 2020 was ¥0.11, compared to -¥0.56 in 2019, indicating a 119.64% increase[22]. - The total assets at the end of 2020 were ¥2,086,308,725.51, down 9.61% from ¥2,308,000,679.66 at the end of 2019[22]. - The company reported a net profit of -¥101,526,936.87 after deducting non-recurring gains and losses, an improvement of 84.69% from -¥663,171,501.42 in 2019[22]. - The company achieved a total operating revenue of ¥874,483,407.88 in 2020, representing a year-on-year increase of 6.05% compared to ¥824,623,140.36 in 2019[50]. - The company reported a total revenue of RMB 5 million for the year 2020, indicating a significant performance in its financial results[128]. - The company reported a total revenue of 5,210.00 million yuan for the year 2020, reflecting a growth of 142.74% compared to the previous year[183]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in 2020, representing a growth of 20% compared to the previous year[141]. Legal and Compliance Issues - The company is currently facing legal proceedings regarding the illegal guarantees, which may significantly impact its financial status and the interests of minority shareholders[8]. - The audit report issued by the accounting firm included a qualified opinion, indicating potential issues with the company's financial reporting[6]. - The total amount of illegal guarantees provided by the former actual controller and related parties reached approximately 2,157.40 million RMB, with the remaining principal and interest balance as of the report date being about 879.85 million RMB[6]. - The company is currently involved in a lawsuit with China Huarong Asset Management Co., with a claim amount of 71,136.74 million RMB, and has recognized a provision of 22 million RMB for this case[160]. - The company has also recognized a provision of 1,131.28 million RMB related to a loan guarantee dispute with Ningbo Huashu Yinshi Investment Center[160]. - The company has recognized estimated liabilities totaling approximately 61.60 million yuan related to a loan dispute case, which is currently in the second instance stage[162]. - The company has reported an estimated liability of 1.89 million yuan in a loan guarantee dispute, currently in the second instance stage[162]. - The company is actively managing its legal obligations and has made significant progress in resolving outstanding debts[190]. - The company has a pending case involving a claim of 1.89222 million yuan, with the court ruling that the guarantee is ineffective[191]. - The company has a significant lease in Shanghai with a monthly rent of 79,471.00 CNY for an office space of 533.21 m², expiring on October 31, 2022[181]. Shareholder and Management Changes - The company underwent a change in controlling shareholder, with Tianjin Bairuoke acquiring 15.02% of the total share capital, becoming the new controlling shareholder[20]. - The company's actual controller has changed, and the former actual controller, Wei Zhenyu, has resigned from the board of directors and received a fine and a five-year ban from the capital market by the Hubei Securities Regulatory Bureau[148]. - The original controlling shareholder transferred 158,550,396 shares through public auction, resulting in Tianjin Bairuoke becoming the new controlling shareholder[197]. - The company's actual controller changed to Mr. Zhang Dai following the share transfer[197]. - The company has committed to maintaining independent operations, ensuring that its management and financial systems are separate from its controlling shareholders[129]. Business Operations and Strategy - The company continues to provide integrated cloud services across various sectors, including government, finance, and transportation, without significant changes in its main business operations during the reporting period[29]. - The company has established a comprehensive product system in cloud-network integration, intelligent big data platforms, and video applications, focusing on smart city and industrial internet solutions[30]. - The company is focusing on integrating cloud and network resources to enhance its service capabilities, particularly in response to the "new infrastructure" initiative[34]. - The company aims to empower the industrial internet sector by creating a comprehensive cloud service platform and collaborating with leading enterprises in the industry[35]. - The company is transitioning towards comprehensive cloud services, particularly increasing cooperation and investment in the industrial internet sector to meet the evolving market demands[45]. - The company plans to continue collaborating with partners to enhance digital transformation services across various industries, including finance and transportation[47]. - The company is actively pursuing market expansion strategies to enhance its operational capabilities and market presence[129]. - The company is focused on developing new products and technologies to drive future growth and innovation[129]. - The company plans to enhance its competitive advantage in South China by expanding its data center resources to meet customer demands for cloud security services[100]. - The company aims to build a large-scale data center cluster in Shenzhen to secure high-quality strategic customer resources[100]. Research and Development - Research and development expenses increased by 30.98% to 38,543,475.07 CNY, reflecting a commitment to innovation[68]. - The number of R&D personnel increased to 228, representing 27.74% of the workforce, up from 25.17% the previous year[71]. - R&D investment accounted for 5.04% of operating revenue, an increase from 4.37% in the previous year[72]. - The company has made significant investments in construction projects and working capital amounting to 63.17 million CNY and 70.61 million CNY respectively[138]. - New product launches are expected to contribute an additional 300 million in revenue in 2021, focusing on innovative technology solutions[141]. Market and Economic Context - The digital economy in China has grown from 11 trillion yuan at the beginning of the 13th Five-Year Plan to 35.8 trillion yuan in 2019, accounting for 36.2% of GDP[105]. - The IDC market in China reached 156.25 billion yuan in 2019, with a year-on-year growth of 27.2%, and is expected to exceed 320.05 billion yuan by 2022[108]. - The cloud computing market in China was valued at 133.4 billion yuan in 2019, with a year-on-year growth of 38.6%, and is projected to reach approximately 230.8 billion yuan by 2021[109]. Related Party Transactions - The company has established measures to avoid or minimize related party transactions with its subsidiaries[139]. - The company has committed to avoiding and minimizing related party transactions during the period of being the controlling shareholder or actual controller[133]. - The company ensures that no illegal occupation of funds or assets from its subsidiaries would occur, and no guarantees would be requested from its subsidiaries[133]. - The company has disclosed its major asset restructuring projects and related compensation agreements on the designated information disclosure platform[175]. - The company is involved in significant related party transactions, including loans and compensation agreements with its shareholders[172]. Future Outlook - The company provided guidance for 2021, projecting a revenue growth of 25% and aiming to reach 1.875 billion[143]. - The company has set a future outlook with a revenue target of 2,250.00 million yuan for the upcoming fiscal year, which represents a 72.48% increase from the previous year[183]. - The company plans to enter the European market in 2022, with an initial investment of 50 million[142]. - The company aims to enhance shareholder value by implementing a dividend policy, with an expected payout ratio of 30% of net income starting in 2021[141].

Financial Performance - The company's operating revenue for Q3 2021 was ¥187,568,549.04, a decrease of 2.08% compared to the same period last year[3] - The net profit attributable to shareholders was -¥48,244,261.79, representing a significant decline of 7565.59% year-on-year[3] - The net profit after deducting non-recurring gains and losses was -¥50,637,398.52, a decrease of 790.37% compared to the previous year[3] - Total operating revenue for Q3 2021 was CNY 543,738,381.70, a decrease of 8.3% from CNY 593,069,825.06 in the same period last year[22] - Net profit for Q3 2021 was a loss of CNY 83,525,228.80, compared to a profit of CNY 11,038,290.43 in Q3 2020[24] - Basic and diluted earnings per share were both reported at -0.08, compared to 0.011 in the same quarter last year[24] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,157,752,274.29, a slight decrease of 0.15% from the end of the previous year[4] - The total assets amounted to CNY 2,160,900,455.00, reflecting a decrease from 2,229,397,565.36 CNY at the beginning of the year[30] - The total liabilities were CNY 941,265,170.68, which is a marginal increase from CNY 937,669,410.22[20] - Total current liabilities amounted to CNY 462,173,401.15, with accounts payable at CNY 165,070,568.44 and other payables at CNY 199,101,778.16[32] - Non-current liabilities totaled CNY 475,496,009.07, primarily driven by estimated liabilities of CNY 446,196,300.00 and lease liabilities of CNY 53,352,588.46[32] - The company's total equity was reported at CNY 1,223,231,044.78, with a significant negative retained earnings of CNY -3,017,129,277.30[33] Cash Flow - Cash flow from operating activities was -¥80,444,697.67, a decrease of 5.62% compared to the previous year[3] - Cash flow from operating activities was CNY 505,915,210.35, slightly down from CNY 518,931,261.71 in the previous year[26] - Net cash flow from operating activities was -80,444,697.67 CNY, compared to -76,162,117.52 CNY in the previous year, indicating a decline in operational cash flow[27] - Total cash inflow from investment activities was 73,236,216.00 CNY, significantly higher than 126,030.80 CNY in the same period last year[28] - Cash outflow from investment activities totaled 131,255,247.38 CNY, compared to 117,911,273.15 CNY in the previous year, resulting in a net cash flow from investment activities of -58,019,031.38 CNY[28] - The ending balance of cash and cash equivalents was 111,217,923.82 CNY, down from 310,879,437.94 CNY at the end of the previous year[28] Shareholder Information - The total number of common shareholders at the end of the reporting period is 22,678[11] - Tianjin Bai Ruoke Pharmaceutical Biotechnology Co., Ltd. holds 15.12% of shares, amounting to 158,550,396 shares, with 109,275,198 shares pledged[11] - Blue Ding Industrial (Hubei) Co., Ltd. holds 8.60% of shares, totaling 90,178,582 shares, all of which are pledged or frozen[11] Inventory and Receivables - The company’s inventory increased by 60.93% to ¥174,425,925.52, primarily due to unfinished design service contracts[8] - Accounts receivable increased from RMB 523,995,123.11 at the end of 2020 to RMB 557,779,642.72 by September 30, 2021, an increase of about 6.5%[18] - Inventory rose significantly from RMB 108,384,713.22 at the end of 2020 to RMB 174,425,925.52 by September 30, 2021, representing an increase of approximately 61.0%[18] Legal and Compliance Issues - The company has faced legal issues regarding unauthorized guarantees amounting to approximately RMB 839.64 million[14] - The company has received a debt transfer notice from Beijing Bitian Wealth Investment Co., Ltd., which has transferred its claims to Tianjin Bai Ruoke[15] - The third-quarter report was not audited, which may affect the reliability of the financial data presented[35] Other Financial Metrics - Research and development expenses for the quarter were CNY 26,778,678.17, down from CNY 28,542,981.29 in the previous year[23] - The company reported a significant increase in investment income of ¥17,501,255.63, up 17,354,751.07 compared to the same period last year[9] - The company reported a significant increase in accounts payable, rising to CNY 209,067,587.58 from CNY 165,070,568.44, reflecting a 26.7% increase[20] - The company adjusted its financial statements to comply with new leasing standards, impacting the balance sheet figures[29] - The company has adopted new leasing standards effective January 1, 2021, impacting the measurement of lease liabilities and right-of-use assets[34]

Financial Performance - The company's operating revenue for Q3 2021 was ¥187,568,549.04, a decrease of 2.08% compared to the same period last year[3] - Net profit attributable to shareholders was ¥46,204,838.21, an increase of 7,049.99% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥50,637,398.52, a decrease of 790.37% compared to the previous year[3] - The basic earnings per share for the period was ¥0.04, an increase of 3,900.00% year-on-year[3] - Total operating revenue for Q3 2021 was CNY 543,738,381.70, a decrease of 8.3% from CNY 593,069,825.06 in the same period last year[22] - Total operating costs increased to CNY 644,995,154.86, up 15.4% from CNY 558,453,340.01 in the previous year[22] - Net profit for Q3 2021 was CNY 10,923,871.20, slightly down from CNY 11,038,290.43 in Q3 2020[24] - The company reported a gross loss of CNY 95,122,273.24 in Q3 2021, compared to a profit of CNY 15,595,824.16 in the same quarter last year[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,157,752,274.29, a decrease of 0.15% from the end of the previous year[3] - Total assets amounted to CNY 2,157,752,274.29, a slight decrease from CNY 2,160,900,455.00 at the end of the previous quarter[20] - Total liabilities were CNY 941,265,170.68, compared to CNY 937,669,410.22 in the previous quarter[20] - The company’s equity attributable to shareholders was CNY 1,214,177,338.19, down from CNY 1,219,953,659.39 in the previous quarter[20] - The total current assets as of September 30, 2021, are RMB 1,180,068,735.31, slightly down from RMB 1,182,588,406.22 at the end of 2020[18] - Total liabilities amounted to approximately 937.67 million, a decrease of 68.50 million compared to the previous period[32] - Current liabilities totaled approximately 462.17 million, with accounts payable at approximately 165.07 million and other payables at approximately 199.10 million[32] - Non-current liabilities were approximately 475.50 million, including lease liabilities of approximately 53.35 million and estimated liabilities of approximately 446.20 million[32] Cash Flow - Cash flow from operating activities was -¥80,444,697.67, a decrease of 5.62% year-to-date[3] - Cash flow from operating activities was CNY 505,915,210.35, a decrease from CNY 518,931,261.71 in the previous year[26] - The net cash inflow from operating activities was CNY 593.75 million, compared to CNY 546.75 million in the previous year, reflecting an increase of approximately 8.5%[27] - The net cash outflow from operating activities was CNY 674.19 million, up from CNY 622.91 million year-over-year, indicating a rise of about 8.2%[27] - The net cash flow from investment activities was negative CNY 58.02 million, a significant improvement from negative CNY 117.79 million in the same period last year[28] - The company incurred cash payments for the acquisition of fixed assets and intangible assets totaling CNY 74.07 million, up from CNY 38.97 million year-over-year, reflecting an increase of about 90%[28] - The cash inflow from financing activities was CNY 5 million, with cash outflows totaling CNY 16.11 million, resulting in a net cash flow from financing activities of negative CNY 11.11 million[28] Shareholder Information - The total number of common shareholders at the end of the reporting period is 22,678[11] - Tianjin Bai Ruoke Pharmaceutical Biotechnology Co., Ltd. holds 15.12% of shares, totaling 158,550,396 shares, with 109,275,198 shares pledged[11] - Blue Ding Industrial (Hubei) Co., Ltd. holds 8.60% of shares, totaling 90,178,582 shares, with 90,000,000 shares pledged and frozen[11] Legal and Regulatory Issues - The company has ongoing legal issues related to unauthorized guarantees amounting to approximately RMB 839.64 million[14] - The company received a debt transfer notice from Beijing Bitian Wealth Investment Co., Ltd., which transferred its claims to Tianjin Bai Ruoke[15] Adjustments and Standards - The company adjusted its financial statements for the first-time implementation of new leasing standards, impacting the balance sheet items[29] - The total assets of the company amounted to CNY 2.16 billion, with a net adjustment of CNY 68.5 million due to the new leasing standards[30] - The company did not adjust prior period comparative data for the new leasing standards, maintaining original values for finance leases[34] - The report was not audited, indicating that the figures may be subject to change upon final review[35] - The report was released on October 27, 2021, providing insights into the company's financial position for Q3 2021[36]

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥356.17 million, a decrease of 11.29% compared to ¥401.52 million in the same period last year[21]. - The net profit attributable to shareholders of the listed company was a loss of approximately ¥34.31 million, a decline of 419.10% compared to a profit of ¥10.75 million in the same period last year[21]. - The basic earnings per share were reported at -¥0.03, a decrease of 400.00% compared to ¥0.01 in the same period last year[21]. - The company's total revenue for the first half of 2021 was approximately CNY 228.55 million, with a year-on-year decrease of 10.10%[50]. - The gross profit margin for the network communication services was 18.21%, down by 15.44% year-on-year[50]. - The company reported a total comprehensive income of -31,505 million RMB for the current period, indicating a significant decline[195]. Cash Flow and Assets - The net cash flow from operating activities improved to a negative ¥42.08 million, an improvement of 40.16% from a negative ¥70.32 million in the previous year[21]. - Cash and cash equivalents decreased by 5.73% to CNY 144,740,814, primarily due to payments for the acquisition of Huachi's original shareholders' equity of CNY 27.18 million and fixed asset purchases of CNY 62.46 million[61]. - The total assets at the end of the reporting period were approximately ¥2.10 billion, a decrease of 2.91% from ¥2.16 billion at the end of the previous year[21]. - The company's total liabilities amounted to CNY 1,052,299,335.08, an increase from CNY 1,028,167,732.18 year-over-year[166]. - The cash flow from operating activities improved by 40.16%, with a net cash outflow of ¥42.08 million compared to ¥70.32 million in the previous year[47]. Market and Competition - The company reported a significant reduction in market share and service prices in the CDN business due to intense competition and price wars in the industry[36]. - The company is facing intensified market competition in the cloud service sector, necessitating resource integration and market expansion[75]. - The company aims to serve thousands of clients across key industries such as finance, internet, industrial, transportation, government, and energy[36]. Strategic Initiatives - The company is transitioning towards comprehensive cloud services, focusing on the industrial internet sector, and aims to provide integrated solutions across "resources, platforms, and applications"[30]. - The company has established a strategic partnership with Aerospace Cloud Network Technology Co., enhancing its capabilities in the industrial internet space and aiming for scalable revenue growth[35]. - The implementation of the "14th Five-Year Plan" is expected to drive demand for the company's services, with a stable recovery in macroeconomic indicators[35]. - The company plans to invest 100 million RMB in research and development for new technologies over the next year[89]. Legal and Compliance Issues - The company is currently facing legal issues related to guarantees amounting to approximately ¥215.74 million, with a remaining balance of about ¥89.14 million as of the report date[6]. - The company has engaged professional lawyers to resolve some of the non-compliant guarantee issues through court rulings[96]. - The company has committed to ensuring that its subsidiaries do not engage in competitive business activities that could harm the company's interests[91]. Research and Development - Research and development investment rose by 12.15% to ¥29.42 million, reflecting the company's commitment to innovation[47]. - The company is committed to continuous technological innovation and increasing R&D investment to maintain competitiveness in niche markets[35]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[7]. - The company guarantees that it and its controlled enterprises will not engage in any related transactions with the listed company in the future[87]. - The company will strictly adhere to legal regulations and internal management systems to avoid any actions that could harm the interests of the listed company and its minority shareholders[88]. Future Outlook - The company provided a future outlook projecting a revenue growth of 10% for the second half of 2021, driven by new product launches and market expansion strategies[89]. - The company aims to enhance shareholder value through strategic mergers and acquisitions in the upcoming quarters[185].

Financial Performance - The company reported a total revenue of RMB 3 billion for the year 2020, reflecting a year-on-year growth of 15%[129]. - The company's operating revenue for 2020 was ¥874,483,407.88, representing a 6.05% increase compared to ¥824,623,140.36 in 2019[21]. - The net profit attributable to shareholders for 2020 was ¥100,970,215.97, a significant turnaround from a loss of ¥630,181,898.73 in 2019, marking a 116.02% improvement[21]. - The gross margin for 2020 was reported at 35%, a slight increase from 32% in 2019[129]. - The company achieved a total operating revenue of 874,483,407.88 yuan in 2020, representing a year-on-year increase of 6.05% compared to 824,623,140.36 yuan in 2019[48]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in 2020, representing a growth of 20% compared to the previous year[143]. - The company plans to set a revenue guidance for 2021, projecting a growth rate of 10% to 12%[130]. - The company reported a total interest-bearing debt of 215,740.42 million yuan as of the report date[146]. Legal and Compliance Issues - The company is currently facing legal proceedings regarding the illegal guarantees, which may significantly impact its financial status and the interests of minority shareholders[8]. - The total amount of illegal guarantees provided by the former actual controller and the chairman was approximately 2,157.40 million RMB, with the remaining principal and interest balance as of the report date being about 879.85 million RMB[6]. - The company has engaged multiple law firms to actively respond to ongoing lawsuits related to illegal guarantees and fund occupation[122]. - The company has faced legal proceedings, including a bankruptcy ruling against a related party, which may impact its operations[134]. - The company has committed to strengthening internal controls to prevent future violations and protect shareholder interests[122]. - The company has made commitments to avoid related party transactions and ensure compliance with legal regulations in future operations[128]. - The company has reported a total of 6,160.02 million CNY in non-operating fund occupation at the end of the reporting period, which accounts for 5.03% of the latest audited net assets[148]. Shareholder and Management Changes - The company underwent a change in control, with Tianjin Bairuoke acquiring 15.02% of the total share capital, becoming the controlling shareholder[19]. - The company's actual controller changed on August 13, 2020, with Wei Zhenyu no longer being the actual controller[146]. - The original controlling shareholder, Beijing Yuchirui Investment Co., Ltd., auctioned off 158,550,396 shares, resulting in Tianjin Bairuoke Pharmaceutical Biotechnology Co., Ltd. becoming the new controlling shareholder[199]. - The company has frozen equity stakes in several subsidiaries, including 99.997% in Beijing Huachi Communication Technology Co., Ltd. and 100% in Beijing Gaosheng Data System Co., Ltd.[87]. Research and Development - Research and development expenses increased by 30.98% to 38,543,475.07 CNY, reflecting a focus on innovation[67]. - The company’s R&D personnel count rose to 228, representing 27.74% of the workforce, up from 25.17% the previous year[70]. - The company is investing RMB 200 million in R&D for new technologies aimed at enhancing product efficiency[130]. - The company has completed the development of the edge computing management system with a capitalized amount of CNY 546,732.06, which has been transferred to intangible assets[73]. Market and Strategic Initiatives - The company aims to enhance its cloud-network integration service capabilities as a core business strategy, focusing on providing automated services and unified management[116]. - The company plans to build a dedicated network and video capability platform to meet the increasing demand for remote work solutions[117]. - The company is actively exploring opportunities for mergers and acquisitions to strengthen its market position and diversify its portfolio[182]. - The company plans to continue collaborating with partners to enhance digital transformation services across various industries, including finance and transportation[48]. Financial Management and Investments - The company plans not to distribute cash dividends, issue bonus shares, or convert reserves into share capital for the year[8]. - The company has committed to ensuring no substantial competition with the listed company and minimizing related party transactions[131]. - The company has made commitments to not transfer benefits to other units or individuals under unfair conditions[138]. - The company has reported a significant increase in prepaid expenses, rising by 120.26% compared to the beginning of the period, amounting to CNY 114,144,560[83]. Operational Performance - The company’s stock is listed on the Shenzhen Stock Exchange under the ticker symbol *ST GOSUN[16]. - The company has established a comprehensive product system in areas such as cloud-network integration and intelligent big data platforms, targeting smart city and industrial internet applications[31]. - The company continues to focus on providing integrated cloud services across various sectors, including government, finance, and transportation[30]. - The company has reported a total rental income of 12,358.32 million yuan for the year, with an average monthly rent of 619 yuan per square meter[182].

Financial Performance - The company's operating revenue for 2020 was ¥874,483,407.88, representing a 6.05% increase compared to ¥824,623,140.36 in 2019[21]. - The net profit attributable to shareholders for 2020 was ¥100,970,215.97, a significant turnaround from a loss of ¥630,181,898.73 in 2019, marking a 116.02% improvement[21]. - The basic earnings per share for 2020 was ¥0.10, compared to a loss of ¥0.590 per share in 2019, reflecting a 116.95% increase[21]. - The total assets at the end of 2020 were ¥2,160,900,455.00, a decrease of 10.36% from ¥2,410,535,538.54 at the end of 2019[21]. - The net assets attributable to shareholders increased by 9.02% to ¥1,219,953,659.39 at the end of 2020, up from ¥1,118,983,443.42 in 2019[21]. - The company reported a weighted average return on equity of 8.63% in 2020, a significant recovery from -42.56% in 2019[21]. - The company reported a total revenue of RMB 3 billion for the year 2020, reflecting a year-on-year growth of 15%[130]. - The company reported a total revenue of 15,072.2 million yuan for the year 2020, representing a 12.35% increase compared to the previous year[194]. Legal and Compliance Issues - The company is currently facing legal proceedings regarding the illegal guarantees, which may significantly impact its financial status and the interests of minority shareholders[8]. - The independent auditor issued a qualified opinion on the financial report, indicating potential issues that investors should be aware of[6]. - The company has resolved some illegal guarantees through court rulings and repayments from the former actual controller, but there are still ongoing lawsuits[123]. - The company has not resolved issues related to illegal external guarantees and non-operating fund occupation, leading to continued risk warnings on its stock[123]. - The company has implemented comprehensive rectifications over the past two years, enhancing internal controls in financial management, seal management, and related party transaction management[123]. - The company is facing ongoing litigation regarding various claims, with amounts totaling approximately 215,740 million yuan[194]. - The company has recognized a provision for expected liabilities amounting to RMB 22 million related to a lawsuit[161]. Shareholder and Dividend Policies - The company plans not to distribute cash dividends, issue bonus shares, or convert reserves into share capital for the year[9]. - The profit distribution plan for 2020 is to not conduct capital reserve transfers, stock dividends, or cash dividends, pending shareholder approval[126]. - The company reported a net profit of 100,970,215.97 yuan for 2020, with a cash dividend payout ratio of 0.00%[127]. - The company has not proposed any cash dividend distribution plans for the past three years, including the current reporting period[126]. Business Operations and Strategy - The company has not reported any changes in its main business operations during the reporting period[20]. - The company continues to provide integrated cloud services across various sectors, including government, finance, and transportation, without major changes in its core business during the reporting period[31]. - The company aims to empower the industrial internet sector by creating a comprehensive cloud service platform and collaborating with leading enterprises in the industry[37]. - The company is focusing on integrating cloud and network resources to enhance its service capabilities in response to the "new infrastructure" initiative[36]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[57]. - The company is actively pursuing strategic upgrades to enhance its competitive advantage in the cloud service market[104]. Research and Development - The company reported a significant increase in R&D expenses, totaling 38,543,475.07 CNY, which is a 30.98% increase compared to 29,427,835.51 CNY in the previous year[68]. - The R&D investment accounted for 5.04% of total operating revenue, up from 4.37% in the previous year[71]. - The number of R&D personnel increased to 228, representing 27.74% of the workforce, up from 25.17% the previous year[71]. - Research and development efforts have led to the introduction of two new products, expected to contribute an additional RMB 500 million in revenue[131]. Market and Competitive Landscape - The company is committed to strengthening its market presence and brand image while enhancing its service offerings to meet diverse customer needs[121]. - The company faces risks from intensified market competition and management challenges due to business model changes and scale expansion[122]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share within the next three years[131]. - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance the company's market position and increase revenue by 30%[131]. Financial Management and Guarantees - The total amount of illegal guarantees provided by the former actual controller and related parties reached approximately 2,157.40 million RMB, with a remaining principal and interest balance of about 879.85 million RMB as of the report date[6][8]. - The total amount of guarantees provided by the controlling shareholder and its related parties is 215,740.42 million yuan, with the outstanding principal and interest amounting to 87,984.96 million yuan as of the report date[139]. - The company has committed to not providing any form of guarantees or financial support to other related parties[139]. - The company guarantees participation in shareholder meetings according to laws and regulations, ensuring equal rights and obligations[135]. Governance and Internal Controls - The company has established a robust governance structure to ensure independent decision-making and operational integrity[131]. - The company has committed to ensuring that related transactions with listed companies are conducted at fair market prices and in compliance with relevant laws and regulations[132]. - The company has emphasized the importance of transparency and accountability in its financial dealings and governance practices[138]. - The company is committed to strengthening internal controls to prevent future violations and protect the interests of all shareholders, especially minority shareholders[123].

Financial Performance - The company's revenue for Q1 2021 was ¥174,015,385.71, representing a 5.15% increase compared to ¥165,494,801.81 in the same period last year[8]. - The net profit attributable to shareholders was -¥5,739,939.17, an improvement of 77.94% from -¥26,021,160.27 year-on-year[8]. - Basic and diluted earnings per share improved to -¥0.0050 from -¥0.025, marking an 80.00% increase[8]. - The net profit attributable to shareholders was -5,739,939.17 CNY, a decrease in loss of 77.94% compared to the same period last year, primarily due to the failure of Shanghai Yingyue to meet performance commitments, requiring compensation of 32,969,408 shares[16]. - The company reported a net profit of RMB 21,928.09 million for the year 2019, with a commitment to achieve a minimum net profit of RMB 11,100.00 million for 2019[27]. - The company reported a net loss for the company in Q1 2021 was CNY 20,000,000, reflecting a significant increase in operating costs[55]. - The total comprehensive income for the first quarter was -5,845,141.79, compared to -26,189,503.47 in the previous period, indicating a significant recovery[57]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥55,873,187.01, a decline of 9.89% compared to -¥50,615,529.95 in the previous year[8]. - The net cash flow from investing activities was -2,101,811.68 CNY, a decrease of 89.68% compared to the same period last year, primarily due to a payment of 15 million CNY for the acquisition of Huachi shareholders[16]. - The net cash flow from financing activities was -4,805,395.58 CNY, compared to 0 CNY in the same period last year, mainly due to rental payments reported under the new leasing standards[17]. - The total cash inflow from operating activities was 180,587,633.71, compared to 158,094,431.87 in the previous period[64]. - The total cash outflow from operating activities was 236,460,820.72, compared to 208,709,961.82 in the previous period[64]. - The company experienced a net cash decrease of ¥62,766,495.42 during the quarter, highlighting challenges in cash management[65]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,131,760,275.76, down 1.35% from ¥2,160,900,455.00 at the end of the previous year[8]. - The total liabilities of the company reached 215,740 million yuan, representing a 176.85% increase compared to the previous period[38]. - The company's total liabilities as of March 31, 2021, were CNY 932,042,185.14, slightly down from CNY 937,669,410.22 at the end of 2020[49]. - The total amount of guarantees provided by the company is 2,157.4042 million yuan, with an outstanding principal and interest balance of 879.8496 million yuan as of the report date[24]. - The total amount of financing guarantees provided by the company to related parties was RMB 215,740.42 million, with an outstanding principal and interest balance of RMB 87,984.96 million as of the report date[28]. Shareholder Information - The total number of shareholders at the end of the reporting period was 22,934[12]. - The largest shareholder, Tianjin Baierke Medical Biotechnology Co., Ltd., holds 15.12% of the shares, amounting to 158,550,396 shares[12]. - The company did not engage in any repurchase transactions among the top shareholders during the reporting period[13]. - The company repurchased and canceled 6,717,799 shares as compensation for the performance shortfall of Shanghai Yingyue, with a total compensation of 32,969,408 shares required[20]. Compliance and Governance - The company has committed to not using its position to seek preferential treatment in transactions, ensuring fair market practices[25]. - The company has not provided guarantees to its original actual controller or other related parties, adhering to regulatory requirements[26]. - The company will strictly avoid any illegal occupation of funds or assets, ensuring compliance with financial regulations[25]. - The company has established a commitment to not transfer benefits to other units or individuals at unfair conditions[26]. - The company has pledged to participate in shareholder meetings and exercise rights equally without seeking improper benefits[25]. - The company has outlined that any violations of commitments will result in legal responsibilities, including compensation for losses incurred[25]. Legal Matters - The company is actively involved in legal proceedings regarding guarantees, with a total of 40 million yuan in guarantees related to a former controlling shareholder[36]. - The company is currently in litigation regarding a guarantee request, with a total of 20 million yuan involved, and the case is still under review[36]. - The company has ongoing legal proceedings regarding guarantees deemed invalid by the court, affecting liabilities of approximately 53,681.04 million yuan[37]. - The company is involved in multiple legal disputes with its actual controllers and related parties, with total claims exceeding 44,610 million yuan[37]. Research and Development - Development expenditures increased by 127.22% to 4,060,022.29 CNY, primarily due to R&D investments in projects like Aerospace Cloud Network[16]. - Research and development expenses for Q1 2021 were CNY 10,366,916.70, compared to CNY 10,957,268.83 in the previous period[55]. Market Strategy - The company has identified new strategies for market expansion and product development in its upcoming fiscal plans[38]. - The company aims to avoid or minimize related party transactions, adhering to principles of fairness and transparency in any unavoidable transactions[28].