安徽德豪润达电气股份有限公司2022年年度报告全文 安徽德豪润达电气股份有限公司 2022 年年度报告 ...

Financial Performance - The company's operating revenue for Q1 2023 was ¥177,192,582.67, a decrease of 49.76% compared to ¥352,707,362.68 in the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥42,265,848.91, an improvement of 17.04% from a loss of ¥50,947,996.63 in the previous year[5]. - Total revenue from sales and services decreased by 50.81% to ¥219,006,072.37, primarily due to a decline in small appliance sales[9]. - The company reported a total comprehensive loss of ¥70,275,642.01 for Q1 2023, compared to a loss of ¥61,738,636.80 in Q1 2022[21]. - Net profit for Q1 2023 was a loss of ¥42,466,621.23, compared to a loss of ¥51,302,726.60 in Q1 2022, representing an improvement of 17.5%[21]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥63,226,171.93, a decline of 373.63% compared to a positive cash flow of ¥23,106,087.40 in the same period last year[5]. - Cash flow from operating activities turned negative, with a net outflow of ¥63,226,171.93, a significant decline from a positive inflow of ¥23,106,087.40 in the previous period[9]. - Cash and cash equivalents at the end of Q1 2023 totaled ¥261,895,112.00, down from ¥304,561,854.98 at the end of Q1 2022[23]. - Cash and cash equivalents decreased by 239.54%, resulting in a net decrease of ¥65,039,741.32, primarily due to lower collections from small appliance sales[9]. - The company experienced a cash outflow of ¥2,814,465.33 due to exchange rate fluctuations during Q1 2023[23]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,497,839,404.70, down 6.76% from ¥2,678,950,357.01 at the end of the previous year[5]. - Total assets decreased to ¥2.50 billion from ¥2.68 billion, reflecting a decline of about 6.7%[19]. - Total liabilities decreased to ¥1.30 billion from ¥1.41 billion, a reduction of approximately 7.8%[19]. - The company’s total equity attributable to shareholders decreased by 6.38% to ¥1,027,909,173.21 from ¥1,097,984,042.90 at the end of the previous year[5]. Research and Development - The company's R&D expenses decreased by 57.70% to ¥3,087,647.06 from ¥7,299,458.29 in the previous year[8]. - Research and development expenses decreased to ¥3,087,647.06 in Q1 2023, down 57.7% from ¥7,299,458.29 in Q1 2022[20]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 43,951[11]. - The largest shareholder, Zhejiang Chengze Technology Co., Ltd., holds 21.92% of the shares, amounting to 384,129,200 shares[11]. Operational Challenges - The company reported a significant decline in export sales of small household appliances, which contributed to a 62.35% drop in operating revenue[8]. - The company experienced a 79.09% decrease in tax refunds received, totaling ¥6,301,191.25, due to a reduction in export tax rebates[9]. - The company is facing arbitration claims for ¥1 billion and ¥1.5 billion related to disputes with investment groups[13]. - Allegations against the former actual controller involve misappropriation of ¥240 million in government subsidies[14]. - The company is actively cooperating with investigations related to the allegations against its former actual controller to ensure normal business operations[14]. Financing Activities - The company reported an increase of 1678.11% in cash received from borrowings, totaling ¥27,090,654.50, due to increased mortgage borrowings by subsidiaries[9]. - The company’s total cash inflow from financing activities was ¥36,558,922.14, compared to ¥30,192,697.61 in Q1 2022[23]. Other Financial Metrics - The weighted average return on net assets was -3.92%, slightly down from -3.69% in the previous year[5]. - The company recorded an increase in other operating income to ¥3,780,321.61, up 301.91% from ¥940,580.11 in the previous year, mainly due to gains from the disposal of idle equipment[8]. - Operating cash inflow decreased by 52.21% to ¥230,282,343.48, attributed to reduced collections from small appliance sales and export tax rebates[9]. - Accounts receivable decreased to ¥134.85 million from ¥170.62 million, representing a reduction of about 21%[17]. - Inventory levels fell to ¥97.97 million from ¥120.32 million, a decrease of approximately 19%[17].

Financial Performance - The company's revenue for Q3 2022 was ¥266,927,577.57, a decrease of 52.40% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2022 was -¥72,814,953.73, down 40.51% year-on-year[5]. - The company's basic and diluted earnings per share for Q3 2022 were both -¥0.0415, a decline of 41.16% year-on-year[5]. - Total revenue for the third quarter decreased by 31.07% to CNY 1,234,722,794.25, primarily due to a decline in small appliance sales[9]. - Total operating revenue for the third quarter was CNY 978.11 million, a decrease of 36.4% compared to CNY 1,537.05 million in the same period last year[19]. - The net loss for the quarter was CNY 231.43 million, compared to a net loss of CNY 223.39 million in the previous year, reflecting a decline of 3.1%[21]. - The company reported a comprehensive loss of CNY -119,662,653.85, a 49.47% improvement compared to the previous year, mainly due to foreign currency translation adjustments[9]. - The company reported a comprehensive loss of CNY 119.66 million, compared to a comprehensive loss of CNY 236.79 million in the previous year, indicating an improvement[22]. Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥74,526,856.56, an increase of 146.72%[5]. - Cash flow from operating activities showed a net inflow of CNY 74,526,856.56, a turnaround from a net outflow of CNY -159,509,134.26 in the previous year[9]. - The net cash flow from operating activities for the current period is ¥74,526,856.56, a significant improvement from the previous period's net cash flow of -¥159,509,134.26[23]. - Total cash inflow from operating activities decreased to ¥1,428,307,040.86, down 25.8% from ¥1,924,771,170.06 in the previous period[23]. - Cash outflow from operating activities also decreased to ¥1,353,780,184.30, down 35% from ¥2,084,280,304.32 in the previous period[23]. - The net cash flow from financing activities improved to ¥64,188,455.50, recovering from a negative cash flow of -¥43,365,818.77 in the previous period[24]. - The total cash and cash equivalents at the end of the period reached ¥420,356,799.16, an increase from ¥223,612,910.90 at the end of the previous period[24]. - The company received ¥64,897,493.56 in cash from borrowings, a significant increase from ¥12,338,084.50 in the previous period[24]. - The company reported a significant increase in other comprehensive income, with a net amount of CNY 111,764,550.10, reflecting a 933.61% rise due to foreign currency translation adjustments[9]. Assets and Liabilities - Total assets as of September 30, 2022, were ¥2,932,255,208.61, a decrease of 14.51% from the end of the previous year[5]. - The company's total liabilities increased significantly, with short-term borrowings rising by 1831.42% to ¥58,683,657.95[8]. - The company's equity attributable to shareholders decreased by 8.43% to ¥1,286,677,767.74 compared to the end of the previous year[5]. - The total assets of the company as of September 30, 2022, are ¥2,932,255,208.61, down from ¥3,430,010,841.54 at the beginning of the year[16]. - The company's short-term borrowings increased to ¥58,683,657.95 from ¥3,038,370.35 at the beginning of the year[16]. - The company's total liabilities decreased to CNY 1,477.23 million from CNY 1,855.33 million, a reduction of 20.3%[18]. - The total equity attributable to shareholders of the parent company was CNY 1,286.68 million, down from CNY 1,405.09 million, a decrease of 8.4%[18]. Research and Development - Research and development expenses for the first nine months of 2022 were ¥26,426,161.39, a decrease of 30.58% compared to the previous year[8]. - Research and development expenses for the quarter were CNY 26.43 million, a decrease of 30.7% from CNY 38.07 million in the same period last year[19]. Other Financial Metrics - Other income dropped by 70.94% to CNY 16,020,661.51, mainly due to a significant reduction in deferred government subsidies[9]. - Investment income improved by 106.35% to CNY 1,600,157.58, attributed to a decrease in losses from equity method investments[9]. - The company recorded an investment income of CNY 1.60 million, compared to a loss of CNY 25.21 million in the previous year, showing a significant turnaround[19]. - Cash received from investment activities fell by 91.62% to CNY 20,920,694.67, primarily due to reduced cash recovery from investments[10]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 44,899[11]. - Zhejiang Chengze Technology holds 21.92% of shares, totaling 384,129,200 shares[11]. Legal and Regulatory Matters - The company is involved in an arbitration case regarding a claim for investment principal of ¥100 million and fixed returns of ¥143.012279 million[14]. - The company is cooperating with investigations related to allegations against its former actual controller, which may impact its operations[14].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥711,185,111.99, a decrease of 27.15% compared to ¥976,245,347.39 in the same period last year[23]. - The net loss attributable to shareholders was ¥157,364,202.92, showing an improvement of 7.09% from a loss of ¥169,380,288.56 in the previous year[23]. - The total comprehensive income attributable to the parent company decreased by 50.67% to -91,006,235.23 CNY compared to the previous period[45]. - The company reported a total profit of -158.28 million yuan, an improvement of 12.93 million yuan compared to the same period in 2021[40]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, was -166.40 million yuan, a reduction in loss of 28.86 million yuan year-on-year[40]. - The company reported a significant loss in the first half of 2022, with a net profit of CNY -43.41 million, indicating a challenging financial environment[66]. - The company reported a net loss of CNY 5,327,848,955.16 in retained earnings, compared to a loss of CNY 5,170,484,752.24 at the beginning of the year[145]. - The company’s total liabilities increased, reflecting ongoing financial restructuring efforts[46]. Cash Flow and Liquidity - The net cash flow from operating activities was ¥84,048,873.50, a significant increase of 146.75% compared to a negative cash flow of ¥179,776,402.76 in the same period last year[23]. - The net increase in cash and cash equivalents was ¥127,120,491.82, a 240.40% increase from a decrease of ¥90,541,352.88 in the same period last year, mainly due to VAT refunds and increased pledged borrowings[44]. - Cash flow has improved compared to the beginning of the year, but remains tight; the company is implementing strict cost control measures and enhancing budget management to ensure efficient use of funds[92]. - The total cash and cash equivalents at the end of the first half of 2022 reached ¥385,073,880.95, up from ¥144,143,210.74 at the end of the first half of 2021, reflecting an increase of approximately 167%[159]. - Current liabilities stood at 1.474 billion RMB, while current assets were 1.004 billion RMB, indicating potential liquidity risks[192]. Revenue Breakdown - Foreign operating revenue amounted to 526.87 million yuan, down 28.67% year-on-year[38]. - Revenue from the small household appliances sector was 601,197,637.01 CNY, accounting for 84.54% of total revenue, down 23.62% from the previous year[48]. - The LED sector's revenue fell by 42.05% to 94,687,712.38 CNY, representing 13.31% of total revenue[48]. - The small home appliance segment accounted for approximately 90% of the company's total revenue, with a strong focus on kitchen appliances[32]. Cost Management - The company's operating costs were 686.97 million yuan, a reduction of 22.88% compared to the previous year, primarily due to the optimization of the small home appliance business[38]. - Management expenses were reduced by 41.16% to ¥104,523,152.46 from ¥177,643,601.11, attributed to a decrease in the number of management personnel and related salary expenses[43]. - The company has implemented measures to control costs, including optimizing personnel and reducing fixed expenses, leading to a 41.16% decrease in management expenses[39]. - The company plans to enhance cost control and improve supplier settlement methods to increase bargaining power for raw materials, addressing risks from price fluctuations[70]. Research and Development - R&D expenses decreased by 38.15% to ¥16,064,054.46 from ¥25,972,170.70, primarily due to a reduction in capitalized R&D expenses[44]. - The company plans to enhance its R&D capabilities by expanding its team and improving the conversion of R&D results into marketable products[41]. - The company is focusing on expanding its small appliance market share while optimizing its supply chain and integrating its production facilities[41]. - The company plans to develop an intelligent home appliance production platform, focusing on high-quality coffee machines as a core product[38]. Legal and Compliance Issues - A significant lawsuit involving a claim of 243.01 million yuan is ongoing, with no current impact on the company’s operations[95]. - The company is involved in multiple lawsuits with a total amount of approximately ¥9,564.04 million related to a sales contract dispute[96]. - The company is actively managing its litigation risks, with ongoing assessments of the potential impacts of various cases[98]. - The former actual controller, Wang Donglei, is under investigation for allegedly misappropriating CNY 240,000,000 in government subsidies[122]. Shareholder and Equity Information - The total number of shares after the recent changes is 1,752,424,858, representing 100.00% of the company's shares[127]. - The largest shareholder, Zhejiang Chengze Technology Co., Ltd., holds 172,346,953 shares, accounting for 9.83% of the total shares[128]. - The company experienced a significant change in shareholding due to the unlocking of shares held by departing directors and executives[127]. - The company has no controlling shareholder or actual controller as of the report date, indicating a lack of majority ownership[187]. Strategic Initiatives - The company plans to optimize its small home appliance business and expand into markets such as Japan and Southeast Asia to reduce reliance on the European and American markets[68]. - The company aims to improve its self-owned brand and marketing efforts to boost sales through e-commerce and social networks[68]. - The company is seeking financing opportunities to support brand promotion, team expansion, and R&D improvements[93]. - The company aims to revitalize its ACA brand, focusing on innovative channels and products to drive new profit growth, particularly through live streaming and social media marketing[93].

Financial Performance - The company's operating revenue for 2021 was ¥2,078,480,320.60, a decrease of 6.21% compared to ¥2,216,002,596.15 in 2020[19] - The net profit attributable to shareholders was -¥529,471,160.57, showing an improvement of 11.18% from -¥596,103,597.22 in the previous year[19] - The net cash flow from operating activities improved by 71.82%, reaching -¥111,207,615.35 compared to -¥394,570,712.58 in 2020[19] - The basic earnings per share were -¥0.3018, an increase of 10.66% from -¥0.3378 in 2020[19] - Total assets at the end of 2021 were ¥3,430,010,841.54, a decrease of 15.59% from ¥4,063,483,966.90 at the end of 2020[19] - The company's net profit attributable to shareholders was negative across all four quarters of 2021, with a total loss of approximately 308.27 million yuan in Q4[24] - The company's net assets attributable to shareholders decreased by 20.76% from approximately 1.77 billion yuan in 2020 to approximately 1.41 billion yuan in 2021[26] - The company reported a significant loss from non-current asset disposal amounting to approximately 214.72 million yuan in 2021, compared to a loss of approximately 33.68 million yuan in 2020[26] - The total cash flow from operating activities was negative in all quarters, with a net cash flow of approximately 48.30 million yuan in Q4, indicating some recovery[24] - The company reported a significant asset impairment of ¥69,247,874.22, impacting overall profitability[65] - The company’s net profit for the year was -¥535,000,000, with a notable difference from the operating cash flow net amount of -¥111,207,615.35[63] Business Strategy and Market Focus - The company has shifted its main business focus to small household appliances and LED packaging after closing its LED chip factory and transferring most of its LED domestic lighting business[18] - The company anticipates that the small appliance market will continue to have growth potential due to low penetration rates compared to mature markets[30] - The company expects that the demand for small appliances will be stimulated by the ongoing changes in consumer behavior due to the pandemic[30] - The company plans to optimize its small household appliance business and expand domestic market channels, focusing on its own brand ACA[42] - The company aims to adjust its export product structure by retaining high-margin, non-loss or low-loss products while potentially divesting low-margin or severely loss-making products[82] - The company is focused on optimizing its capital structure and accelerating capital turnover speed through strategic equity sales[78] - The company is actively pursuing new product development in the small household appliance sector to meet market demands[112] Risks and Challenges - The company has faced risks including macroeconomic uncertainty, intensified industry competition, and reliance on a single market[4] - The company noted that the rising costs of raw materials have not yet been fully passed on to consumers, affecting pricing strategies[30] - The company is addressing risks related to raw material price fluctuations by improving cost control and supplier negotiations[87] - Labor cost increases pose a risk to profitability, and the company plans to optimize its structure and enhance productivity through automation[89] - The company is navigating significant governance challenges, as indicated by the dissenting opinions and procedural concerns raised by board members[123] Governance and Management - The company is committed to improving its governance structure and enhancing risk management and internal controls[43] - The company has established an independent financial accounting department and a financial management system, ensuring financial independence[99] - The company has a strategic committee, nomination committee, audit committee, and compensation and assessment committee to enhance governance[95] - The company has a robust human resources management system, ensuring an independent workforce[98] - The company reported a total remuneration of RMB 1,870.76 million for directors, supervisors, and senior management during the reporting period[119] - The company faced administrative penalties from the China Securities Regulatory Commission for failing to disclose significant events, resulting in a fine of RMB 30 million for two former directors and RMB 20 million for several former senior executives[116] Environmental and Social Responsibility - The company has established pollution control facilities, including wastewater treatment and air pollution control systems, which are operating normally and meeting discharge standards[144] - The company adheres to environmental protection principles, promoting harmony between corporate development and environmental sustainability[147] - Employee welfare is a core value, with initiatives including cultural and sports activities to enhance employee life[146] Related Party Transactions - The company reported a significant related party transaction amounting to 492.5 million yuan for raw material procurement, which is based on market pricing[180] - The company engaged in related party transactions with Zhuhai Norkai Electric Co., Ltd., totaling 7,743.4 million yuan for raw material purchases, also based on market pricing[181] - The company has established a framework for cash settlement in its related party transactions, ensuring transparency and compliance with market standards[180] Future Outlook - Future outlook includes a projected revenue growth of 15% for 2022, driven by new product launches and market expansion strategies[104] - The company plans to launch three new products in Q3 2022, targeting emerging consumer segments[104] - The company aims to strengthen its operational efficiency and financial performance through improved governance and management practices[111]

Revenue and Profitability - The company's revenue for Q1 2022 was ¥352,707,362.68, a decrease of 32.55% compared to ¥522,928,602.22 in the same period last year[3] - The net profit attributable to shareholders was a loss of ¥50,947,996.63, an improvement of 8.89% from a loss of ¥55,921,643.17 in the previous year[3] - The company's revenue from sales of goods and services decreased by 31.04% to CNY 445,187,812.90 compared to the previous period[8] - Operating income decreased by 67.23% to CNY 940,580.11, primarily due to a reduction in supplier discounts[8] - The company reported total operating revenue of RMB 352.71 million, a decrease of 32.55% compared to the same period last year[13] - Operating profit was RMB -52.02 million, an increase of 11.92% year-on-year[13] - Net profit attributable to shareholders was RMB -50.95 million, reflecting an increase of 8.9% compared to the previous year[13] - The company’s total comprehensive loss for the current period is ¥61,738,636.80, compared to a loss of ¥50,265,296.21 in the previous period[22] Cash Flow and Financial Position - The net cash flow from operating activities was ¥23,106,087.40, a significant increase of 132.46% compared to a negative cash flow of ¥71,192,497.03 in the same period last year[3] - Cash and cash equivalents amounted to RMB 403.88 million, an increase from RMB 385.94 million at the beginning of the period[16] - The company reported a net loss of ¥51,302,726.60 for the current period, an improvement from a net loss of ¥56,534,293.79 in the previous period[22] - Cash and cash equivalents at the end of the period amount to ¥304,561,854.98, an increase from ¥226,087,837.68 at the end of the previous period[26] - The company experienced a decrease in sales revenue from customers, totaling ¥445,187,812.90, compared to ¥645,585,850.49 in the previous period[25] - The company’s investment activities resulted in a net cash outflow of -¥2,302,097.55, compared to a net inflow of ¥22,711,893.93 in the previous period[25] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,189,147,640.58, down 7.02% from ¥3,430,010,841.54 at the end of the previous year[3] - The equity attributable to shareholders decreased by 4.37% to ¥1,343,708,467.46 from ¥1,405,092,374.29 at the end of the previous year[3] - Current liabilities totaled RMB 1,541.04 million, down from RMB 1,711.31 million at the beginning of the period[18] - Total liabilities were RMB 1,676.20 million, a decrease from RMB 1,855.33 million at the beginning of the period[18] Expenses and Investments - The company's development expenditure increased by 58.15% to ¥7,867,864.31, reflecting increased investment in small appliance R&D[7] - The company's management expenses decreased by 48.74% to ¥48,555,252.05, primarily due to a reduction in personnel and salary expenses[7] - The company's financial expenses showed a significant decrease of 165.22%, resulting in a gain of -¥3,042,669.57 due to currency exchange rate changes[7] - Cash paid to employees decreased by 52.32% to CNY 71,785,232.68, attributed to a reduction in sales scale[8] - Cash paid for fixed assets, intangible assets, and other long-term assets decreased by 90.44% to CNY 4,877,491.40, mainly due to reduced payments for small appliance molds and chip business[8] - Cash paid for other operating activities decreased by 80.59% to CNY 21,819,637.92, primarily due to reduced management fees and deposits[8] Shareholder Information - The company had a total of 47,654 common shareholders at the end of the reporting period[10] - The largest shareholder, Zhejiang Chengze Technology Co., Ltd., holds 9.83% of the shares, totaling 172,346,953 shares[11] - The company experienced a 99.11% decrease in income tax expenses, amounting to CNY 593.81, due to reduced profitability of subsidiaries[8]

Financial Performance - The company's operating revenue for Q3 2021 was ¥560,802,021.89, a decrease of 17.12% year-on-year, while the cumulative revenue for the first nine months was ¥1,537,047,369.28, down by 0.85%[5] - The net profit attributable to shareholders for Q3 2021 was -¥51,821,374.22, representing a decline of 387.89%, with a cumulative net profit of -¥221,201,662.78 for the first nine months, down 34.27%[5] - The net profit after deducting non-recurring gains and losses for Q3 2021 was -¥65,128,718.66, a significant drop of 1,668.85%, with a cumulative figure of -¥260,390,094.60 for the first nine months, down 34.67%[5] - The basic and diluted earnings per share for Q3 2021 were both -¥0.0294, a decrease of 388.24% year-on-year, with a cumulative figure of -¥0.1255 for the first nine months, down 34.37%[5] - The net loss for Q3 2021 was CNY 223,385,534.76, compared to a net loss of CNY 161,551,748.63 in Q3 2020, representing a decline of 38.3%[23] - The total comprehensive income for the period was -234,608,984.32 CNY, compared to -209,108,148.01 CNY in the previous period, reflecting a decline of approximately 12.2%[24] Assets and Liabilities - Total assets at the end of Q3 2021 were ¥3,812,501,503.60, a decrease of 6.18% from the end of the previous year[5] - The equity attributable to shareholders at the end of Q3 2021 was ¥1,556,613,076.32, down 12.22% from the end of the previous year[5] - The company's total assets decreased to CNY 3,812,501,503.60 from CNY 4,063,483,966.90, a reduction of 6.2%[22] - Total liabilities decreased slightly to CNY 2,082,667,214.92 from CNY 2,114,854,124.26, a decline of 1.5%[21] - The company's equity attributable to shareholders decreased to CNY 1,556,613,076.32 from CNY 1,773,284,773.08, a decline of 12.3%[21] - The company's negative retained earnings amounted to CNY -4,638,582,134.66[32] Cash Flow - The company reported a net cash flow from operating activities of -¥159,509,134.26 for the first nine months, a decline of 1,037.38%[5] - The net cash flow from operating activities was -159,509,134.26 CNY, worsening from -14,024,316.18 CNY in the previous period[27] - Cash inflow from operating activities totaled 1,924,771,170.06 CNY, an increase of about 7.9% from 1,783,505,108.70 CNY in the previous period[26] - The net cash flow from investment activities was 192,262,785.82 CNY, a significant improvement from -34,897,790.44 CNY in the previous period[27] - The total cash outflow from financing activities was 55,703,903.27 CNY, a decrease from 84,416,456.82 CNY in the previous period, indicating a reduction of about 34.0%[27] Expenses - Total operating costs increased to CNY 1,760,600,113.89, up 1.5% from CNY 1,734,998,843.70 year-on-year[22] - The company reported a 55.23% decrease in selling expenses, amounting to 31,009,780.29, attributed to the inclusion of transportation costs in operating costs and reductions in sales personnel salaries and promotional expenses[10] - Research and development expenses for Q3 2021 were CNY 38,068,185.38, down 20.5% from CNY 47,824,722.11 in the previous year[22] - The financial expenses increased by 106.93% to 1,408,499.17, mainly due to exchange rate fluctuations leading to increased foreign exchange losses[10] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 50,842[13] - The top ten shareholders hold a significant portion of shares, with Zhejiang Chengze Technology Co., Ltd. owning 172,346,953 shares, making it the largest shareholder[15] - The company has not disclosed any information regarding the participation of the top ten shareholders in margin financing and securities lending[15] - The company has not identified any other shareholders as acting in concert as per the regulations of the "Management Measures for the Acquisition of Listed Companies"[15] Other Information - The company completed the transfer of land use rights and related assets for CNY 13,500,000, with all transfer payments received as of the report date[16][17] - The company sold 100% equity of Zhongshan Weida for CNY 24,685.93 million, with the small household appliance business asset package valued at CNY 8,185.93 million still under the company's control[16] - The company has extended the transition period for the small household appliance business asset package until December 31, 2021, due to production planning and operational needs[16] - The company has not undergone an audit for the third quarter report[33] - The company has implemented new leasing standards starting from 2021, with no retrospective adjustments reported[33]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥976,245,347.39, representing an increase of 11.74% compared to ¥873,674,147.61 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of ¥169,380,288.56, an improvement of 7.31% from a loss of ¥182,740,363.98 in the previous year[18]. - The net cash flow from operating activities was -¥179,776,402.76, a decline of 63.60% compared to -¥109,886,924.36 in the same period last year[18]. - Total assets at the end of the reporting period were ¥3,744,102,568.83, down 7.86% from ¥4,063,483,966.90 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company decreased by 9.39% to ¥1,606,743,634.51 from ¥1,773,284,773.08 at the end of the previous year[18]. - The basic and diluted earnings per share were both -¥0.0960, showing an improvement of 7.34% from -¥0.1036 in the same period last year[18]. - The weighted average return on net assets was -10.03%, a decrease of 2.41% compared to -7.62% in the previous year[18]. - The total operating revenue for the first half of 2021 was CNY 976,245,347.39, representing an increase of 11.74% compared to CNY 873,674,147.61 in the same period last year[44]. - The net profit for the first half of 2021 was a loss of ¥171,151,669.07, slightly improved from a loss of ¥180,461,384.72 in the first half of 2020[156]. - The total comprehensive loss for the first half of 2021 was ¥186,249,806.64, compared to a loss of ¥149,976,463.58 in the same period of 2020[157]. Revenue Sources - The small home appliance business, including North American appliances, accounted for about 90% of the company's total revenue[26]. - Revenue from the small home appliance sector was CNY 787,081,479.46, accounting for 80.62% of total revenue, with a year-on-year growth of 10.82%[44]. - The LED industry generated CNY 163,393,256.85 in revenue, which is a 15.14% increase from the previous year[44]. - The revenue from international markets rose by 34.11% to CNY 738,641,092.73, while domestic revenue fell by 29.72% to CNY 211,833,643.58[44]. Cost and Expenses - Operating costs rose to ¥890,809,725.78, marking a 12.96% increase from ¥788,585,373.88 year-on-year[37]. - Sales expenses decreased significantly by 53.30% to ¥19,638,011.45, down from ¥42,053,359.59, due to reduced personnel costs and promotional expenses[38]. - Research and development investment dropped by 51.74% to ¥21,175,309.80, compared to ¥43,877,894.94 in the previous year, primarily due to reduced project funding[38]. - The gross profit margin for the small home appliance sector decreased by 1.77% to 7.77%[45]. Market Position and Strategy - The company has a strong market position in the Western small home appliance sector, with significant export rates to Europe and the U.S., where imports from China account for 40%-75% of their respective markets[31]. - The average household in Europe owns over 30 small appliances, indicating a large market potential for growth in China, where ownership is significantly lower[29]. - The company aims to leverage its technological advantages to convert them into market advantages, driving sales growth in the small appliance sector[31]. - The company is actively managing idle assets to improve financial conditions and support its transformation efforts[34]. - The company plans to optimize its small appliance business by focusing on high-margin products and potentially divesting low-margin lines[63]. Environmental Compliance - The company reported a total wastewater discharge of 153 tons of COD and 7.8 tons of SS, with a maximum allowable concentration of 100 mg/l for SS[76]. - The company has implemented pollution control facilities including wastewater treatment systems and exhaust gas treatment systems, although some systems have been stopped[77]. - The company has established an emergency response plan for environmental incidents, complying with national regulations[79]. - The company conducts internal monitoring of wastewater parameters such as COD, ammonia nitrogen, and pH, with external monitoring for other pollutants not conducted in 2020[80]. - The company received environmental impact assessment approvals, with the latest being on December 5, 2014, for its subsidiary[78]. Corporate Governance and Management - There were significant changes in the board of directors, including the election of new members and the resignation of several key executives during the reporting period[71]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[73]. - The company has not engaged in any violations regarding external guarantees during the reporting period[86]. - The company has a comprehensive list of subsidiaries, including entities in Hong Kong and various locations in mainland China[194]. Legal and Financial Obligations - As of June 30, 2021, the company had 81 ongoing lawsuits with a total amount involved of approximately 130.22 million yuan[91]. - The company has 21 court judgments that remain unfulfilled as of June 30, 2021[94]. - The company has outstanding court judgments totaling 11.5万元 for construction contract disputes, which remain unpaid as of June 30, 2021[97]. - The company is required to pay 44.94万元 for a sales contract dispute, with the payment still pending as of June 30, 2021[97]. Shareholder and Capital Structure - The total number of shares after the recent changes is 1,764,720,000, with 4.61% being limited sale condition shares[127]. - The company repurchased 12,295,142 shares, accounting for approximately 0.6967% of the total share capital, with a total transaction amount of 13,579,223 RMB[128]. - The largest shareholder, Zhejiang Chengze Technology Co., Ltd., holds 9.77% of the shares, totaling 172,346,953 shares[131]. - The company’s total number of ordinary shareholders at the end of the reporting period was 51,384[130]. Future Outlook - The company is focusing on improving operational efficiency and exploring new market opportunities to enhance future performance[178]. - The company plans to invest in new product development and technology to drive growth in the upcoming periods[178]. - The company plans to shut down loss-making businesses and optimize its small household appliance segment to improve profitability and generate positive cash flow[197].

Business Restructuring and Strategy - The company reported a significant restructuring in its small home appliance business, raising concerns about operational data and future sustainability risks[4]. - The company plans to optimize and adjust its small home appliance business, although this plan has not yet been approved by the board[4]. - The company has ceased operations in the LED display business as of 2020, focusing on small home appliances and LED packaging[19]. - The company anticipates continued challenges in the small home appliance sector due to rising costs and cash flow pressures, making it difficult to return to profitability in the short term[30]. - The company plans to optimize its small appliance business by focusing on high-margin products and potentially divesting low-margin segments[34]. - The company is actively processing idle assets to improve financial conditions and support transformation efforts[38]. - The company aims to enhance its market position through ongoing legal actions and settlements related to intellectual property[121]. - The company is focusing on diversifying its market presence to reduce reliance on high-consumption markets like Europe and the U.S.[87]. Financial Performance - The company's operating revenue for 2020 was ¥2,216,002,596.15, a decrease of 25.65% compared to ¥2,980,356,543.25 in 2019[21]. - The net profit attributable to shareholders was -¥596,103,597.22 in 2020, representing a decline of 325.76% from ¥264,045,436.49 in 2019[21]. - The net cash flow from operating activities was -¥394,570,712.58, down 175.56% from ¥522,229,645.51 in the previous year[21]. - The total assets at the end of 2020 were ¥4,063,483,966.90, a decrease of 24.74% from ¥5,399,087,624.72 at the end of 2019[21]. - The net assets attributable to shareholders decreased by 28.78% to ¥1,773,284,773.08 from ¥2,489,860,903.99 in 2019[21]. - The company reported a basic earnings per share of -¥0.3378 in 2020, a decline of 325.80% from ¥0.1496 in 2019[21]. - The weighted average return on equity was -27.20% in 2020, down 38.26% from 11.06% in 2019[21]. - The company experienced a significant decline in cash reserves, with cash and cash equivalents decreasing by 62.33% compared to the beginning of the year[32]. Revenue Breakdown - The small home appliance sector contributed CNY 1,802,875,544.39, accounting for 81.36% of total revenue, with a year-on-year increase of 2.25%[41]. - The LED sector's revenue dropped to CNY 368,173,317.97, representing a 66.54% decrease year-on-year[41]. - Domestic revenue fell by 48.04% to CNY 653,911,436.89, while international revenue decreased by 5.47% to CNY 1,517,137,425.47[41]. - The company's revenue from kitchen appliances reached approximately CNY 1.78 billion, representing a year-on-year growth of 9.47%[45]. Legal and Compliance Issues - The company is under investigation by the China Securities Regulatory Commission, with potential administrative penalties pending[177]. - The company has multiple ongoing legal disputes, with significant amounts owed, including CNY 4,215,000 related to various contract disputes[129]. - The company has unresolved payments totaling 31.07 million CNY to Nanjing Sanshun Chemical Technology Co., Ltd. as per an arbitration ruling, which has not been fulfilled by the end of 2020[135]. - The company has not fulfilled several court judgments, including payments of 575.72 million yuan to Jiangxi Jiayin Optoelectronic Materials Co., Ltd. and 23.85 million yuan to Shenzhen Qingyi Optoelectronic Co., Ltd.[139][140]. Environmental and Social Responsibility - The company has committed to environmental protection and is classified as a key pollutant discharge unit, with no instances of exceeding emission standards reported[171]. - The company has established a performance management system to enhance employee welfare and development opportunities[165]. - The company actively engages with investors through various channels to ensure fair access to information and protect shareholder rights[165]. - The company has implemented a social responsibility plan for targeted poverty alleviation, aligning with national initiatives[166]. Shareholder and Governance Structure - The company has no controlling shareholder or actual controller, which may impact governance and decision-making[19]. - The largest shareholder, Wuhu Dehao Investment Co., Ltd., holds 16.02% of the shares, totaling 282,781,900 shares, with 252,745,090 shares pledged and 282,781,900 shares frozen[187]. - Zhejiang Chengze Technology Co., Ltd. became the largest shareholder after acquiring 146,572,839 shares, representing 20.31% of the voting rights[188]. - The company has no shareholders holding more than 50% of the shares or controlling more than 30% of the voting rights[192]. Future Outlook and Plans - The company plans to enhance its product development and innovation capabilities by attracting industry talent and closely monitoring market trends[84]. - The company expects to maintain a stable growth rate of around 8% in revenue for the upcoming year, driven by market expansion strategies[147]. - The company plans to invest in renewable energy solutions, with an estimated budget of 8,521 million yuan for sustainable initiatives[147]. - The company aims to reduce operational costs by 10% through efficiency improvements in the supply chain[200].

Financial Performance - The company's operating revenue for Q1 2021 was ¥522,928,602.22, representing a 58.72% increase compared to ¥329,458,193.97 in the same period last year[7]. - The net profit attributable to shareholders was a loss of ¥55,921,643.17, an improvement of 29.62% from a loss of ¥79,459,405.88 in the previous year[7]. - The basic earnings per share were -¥0.0317, an improvement of 29.56% from -¥0.045 in the same period last year[7]. - The company achieved a net profit attributable to shareholders of CNY -49.65 million, a decrease of 58.30% from the previous year, primarily due to reduced profits during the reporting period[16]. - The total comprehensive income for Q1 2021 was -30,497,748.55 CNY, compared to -24,342,781.97 CNY in the same period last year, indicating a decline of approximately 25.5%[48]. Cash Flow - The net cash flow from operating activities was a negative ¥71,192,497.03, which is an 11.84% improvement compared to a negative ¥80,757,132.51 in the same period last year[7]. - Cash inflow from operating activities totaled 694,293,906.74 CNY, up from 525,828,396.82 CNY in the prior year, representing an increase of about 32.0%[51]. - The cash outflow from operating activities was 765,486,403.77 CNY, compared to 606,585,529.33 CNY last year, marking an increase of approximately 26.2%[51]. - The net cash flow from investment activities was -775,200.00 CNY, compared to -345,351.31 CNY in the previous period, indicating a decrease of approximately 124.4%[55]. - The net cash flow from financing activities was 39,579,150.21 CNY, an increase from 30,140,487.76 CNY in the previous year, reflecting a growth of approximately 31.0%[52]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,770,931,728.29, down 7.20% from ¥4,063,483,966.90 at the end of the previous year[7]. - The company's total assets decreased from CNY 9,529,057,899.22 to CNY 9,266,032,326.22[39]. - The total liabilities decreased from RMB 2,114,854,124.26 to RMB 1,886,148,710.27, a reduction of approximately 10.8%[35]. - The company's current assets decreased from RMB 1,582,540,405.89 to RMB 1,310,919,442.24, reflecting a decline of approximately 17.1%[33]. - The total liabilities also decreased from CNY 4,990,767,869.56 to CNY 4,771,821,573.52[39]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 52,439[10]. - The largest shareholder, Wuhu Dehao Investment Co., Ltd., held 16.02% of the shares, amounting to 282,781,900 shares, which are currently frozen[10]. - The company’s controlling shareholder's shares were auctioned, with 221,007,786 shares (12.52% of total shares) sold, resulting in a new major shareholder holding 20.31% of voting rights[18]. Research and Development - Research and development expenses decreased by 33.42% to RMB 10.37 million in Q1 2021 from RMB 15.57 million in Q1 2020, mainly due to reduced expenses in small appliance R&D[15]. - The company’s development expenditures rose by 74.23% to RMB 13.30 million, reflecting increased investment in small appliance R&D[15]. - Research and development expenses were CNY 10,366,262.45, down from CNY 15,569,209.21, indicating a reduction in R&D investment[42]. Regulatory and Compliance - The company received a notice from the China Securities Regulatory Commission regarding an investigation into information disclosure violations, with no final decision yet[19]. - The company has not identified any non-recurring gains or losses that should be classified as recurring[8]. Operational Changes - The company optimized its small appliance business by focusing on high-margin products like coffee machines and small motors, while considering divesting low-margin products[18]. - The company executed new leasing standards, resulting in the recognition of right-of-use assets and lease liabilities, both amounting to RMB 21.62 million[15].