Financial Performance - The company's operating revenue for the first half of 2022 was ¥799,466,379.24, a decrease of 5.07% compared to ¥842,142,857.34 in the same period last year[26]. - Net profit attributable to shareholders was ¥96,077,549.34, representing an increase of 43.61% from ¥66,901,696.72 year-on-year[26]. - The net profit after deducting non-recurring gains and losses was ¥81,646,942.98, up 55.46% from ¥52,520,481.32 in the previous year[26]. - The net cash flow from operating activities was ¥183,713,826.74, a significant increase of 489.53% compared to a negative cash flow of ¥47,163,339.23 in the same period last year[26]. - Basic and diluted earnings per share were both ¥0.21, reflecting a 40.00% increase from ¥0.15 in the previous year[26]. - The weighted average return on equity was 8.70%, up from 6.86% in the same period last year[26]. - Total assets at the end of the reporting period were ¥2,834,341,356.86, an increase of 12.84% from ¥2,511,834,460.90 at the end of the previous year[26]. - Net assets attributable to shareholders increased by 9.34% to ¥1,153,038,801.63 from ¥1,054,535,669.34 at the end of the previous year[26]. - The company reported a significant decrease in operating costs by 15.09% to CNY 570.45 million, contributing to improved profitability[49]. - The gross margin for the specialized equipment manufacturing sector was 28.64%, showing an increase of 8.66% compared to the previous year[53]. Market Position and Product Development - The company focuses on high-tech products such as carbon fiber and composite material equipment, robots, solar photovoltaic equipment, and energy-saving construction equipment, with a production model based on customer demand[36]. - The carbon fiber production line has an annual production capacity of over 1,000 tons, with products applicable in various fields including automotive, aerospace, and medical equipment[37]. - The market share of the multi-crystalline silicon ingot furnace products exceeds 40%, indicating strong competitive positioning in the solar photovoltaic equipment sector[38]. - The company achieved sales of 10 sets of polyurethane production lines in the first half of 2022, demonstrating effective market expansion efforts[41]. - The company maintains a market share of over 65% in the air-covered yarn machine segment, highlighting its leadership in the textile machinery market[38]. - The company is actively developing new products and technologies, including automated packaging lines and laser workstations, to enhance innovation capabilities[41]. - The company is focused on expanding its sales in new fields, particularly in waste gas treatment projects and non-standard specialized equipment[41]. - International revenue grew by 83.68% to CNY 30.82 million, indicating successful market expansion efforts[53]. Risks and Challenges - The company faces risks including industry policy risks, intensified competition, and fluctuations in procurement and exchange rates[6]. - Risks related to procurement and exchange rate fluctuations could affect product costs and operational performance, prompting the company to establish long-term agreements with suppliers and implement hedging strategies[81]. - Increased competition from emerging technologies like AI and big data requires the company to maintain its innovation capabilities to preserve its market share and economic benefits[79]. - The company faces risks from industrial policy changes that could impact demand for photovoltaic and carbon fiber equipment, necessitating adjustments in product and industry structure to mitigate these risks[78]. - The controlling shareholder, Jingong Group, is undergoing bankruptcy restructuring, which poses a risk of instability in the company's control structure[84]. Shareholder and Corporate Governance - The controlling shareholder, Jinggong Group, holds 141,809,800 shares, accounting for 31.16% of the total share capital, with all shares judicially frozen[107]. - Jinggong Group is undergoing bankruptcy reorganization, with a proposed cash acquisition of core assets amounting to approximately ¥4.56 billion, including an investment consideration of ¥1.18 billion for 13,650,240 shares of Jinggong Technology[107]. - The company is committed to maintaining independence from its controlling shareholder, ensuring that business, personnel, assets, and finances remain separate[107]. - The future success of Jinggong Group's bankruptcy reorganization remains uncertain, which may impact the company's control structure[107]. - The board of directors will continue to monitor the situation and fulfill disclosure obligations as required by law[107]. - The company has not encountered any bankruptcy reorganization-related matters during the reporting period[110]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[100]. - There were no significant asset or equity disposals during the reporting period[68]. - The company has not conducted any repurchase transactions among the top 10 shareholders during the reporting period[186]. - There were no significant changes in the shareholding of directors, supervisors, and senior management during the reporting period[187]. Financial Management and Investments - The company's R&D investment increased by 38.85% to CNY 54.43 million, reflecting a commitment to technological advancement[49]. - The company emphasizes cost control and efficiency improvements, implementing digital management to enhance operational effectiveness[41]. - The company is focused on improving cash flow by expanding projects with strong cash flow and enhancing credit management to mitigate accounts receivable risks[83]. - The company has confirmed a revenue of RMB 161.95 million (approximately $24.9 million) from the carbon fiber production line in the reporting period[124]. - The company recognized a bad debt provision of ¥43,701,100 due to expected non-recovery of risk deposits and rental payments[161]. - The company has a total approved guarantee amount of 40 million yuan for external guarantees, with no actual occurrence during the reporting period[134]. - The company has engaged in financing lease agreements with multiple leasing companies, including Jinju Leasing and Huaron Leasing, to sell its mature products[154]. Compliance and Regulatory Matters - The semi-annual financial report has not been audited[102]. - The company is not classified as a key pollutant discharge unit and has not faced any environmental penalties during the reporting period[94]. - The company has not initiated any poverty alleviation or rural revitalization projects during the reporting period[95]. - There are no violations regarding external guarantees during the reporting period[101]. - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[117].

Financial Performance - The company's revenue for Q1 2022 was ¥370,923,336.44, representing a 16.06% increase compared to ¥319,606,580.57 in the same period last year[4] - Net profit attributable to shareholders was ¥25,238,430.66, a significant increase of 213.37% from ¥8,053,876.68 year-on-year[4] - The net profit after deducting non-recurring gains and losses reached ¥21,326,281.95, up 3,271.69% from ¥632,510.45 in the previous year[4] - Basic and diluted earnings per share were both ¥0.06, reflecting a 200.00% increase from ¥0.02 in the previous year[4] - The company reported a net profit increase, with retained earnings rising to ¥221,142,975.25 from ¥195,904,544.59, a growth of 12.87%[34] - Net profit for the period was ¥24,373,078.75, compared to ¥10,285,373.02 in the previous year, reflecting a significant increase of approximately 137.5%[38] - The company’s total comprehensive income for the period was ¥24,373,078.75, compared to ¥10,285,373.02, reflecting an increase of approximately 137.5%[41] - The company’s total profit amounted to ¥25,575,657.32, up from ¥11,227,041.83, which is an increase of about 128.5%[38] Cash Flow and Liquidity - The net cash flow from operating activities was ¥85,967,179.92, showing a remarkable growth of 540.40% compared to ¥13,424,012.91 in the same quarter last year[4] - Cash flow from operating activities generated ¥85,967,179.92, a substantial increase from ¥13,424,012.91 in the prior period[44] - The net increase in cash and cash equivalents was $51.86 million, up from $20.91 million year-over-year[48] - The ending balance of cash and cash equivalents was $480.84 million, compared to $300.62 million in the previous period[48] - The initial cash and cash equivalents balance was $428.98 million, indicating a strong liquidity position[48] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,702,737,169.00, a 7.60% increase from ¥2,511,834,460.90 at the end of the previous year[4] - Current assets totaled ¥2,243,462,516.83, up from ¥2,046,717,011.62 at the beginning of the year, reflecting a growth of 9.59%[31] - Total liabilities rose to ¥1,602,749,201.30, compared to ¥1,437,434,768.57 at the start of the year, marking an increase of 11.51%[34] - The company's equity attributable to shareholders increased to ¥1,080,989,296.62 from ¥1,054,535,669.34, a growth of 2.52%[34] Research and Development - The company's R&D expenses increased by 53.86%, primarily due to higher investment in carbon fiber equipment[7] - Research and development expenses rose to ¥27,221,994.84, up from ¥17,692,934.42, marking an increase of about 53.5%[38] Sales and Contracts - The company signed a sales contract with Jilin Baojing Carbon Fiber Co., Ltd. for a complete production line worth RMB 183 million, with a confirmed revenue of RMB 161.95 million for the year 2020[21] - The company has signed contracts with Jilin Guoxing Carbon Fiber Co., Ltd. totaling RMB 650 million for four carbon fiber production lines, with RMB 233 million received as of the report date[22] - A contract worth RMB 330 million was signed with Xinjiang Longju New Materials Co., Ltd. for two complete carbon fiber production lines, with a prepayment of RMB 82.5 million received[23] - A contract for RMB 680 million was signed with Jilin Chemical Fiber Co., Ltd. for four carbon fiber production lines, with a prepayment of RMB 45 million received, and RMB 159 million pending[27] Shareholder Information - The controlling shareholder, Jinggong Group, holds 141,809,800 shares, accounting for 31.16% of the total share capital, with all shares judicially frozen due to debt disputes[19] - As of the report date, shareholder Sun Jianjiang has passively reduced his holdings by 9,103,200 shares, representing 2% of the total share capital, leaving him with 15,404,970 shares, or 3.385% of the total[20] Debt and Guarantees - The company has authorized a total of up to RMB 40 million, RMB 45 million, and RMB 40 million for financing lease business guarantees with various leasing companies[16] - As of March 31, 2022, the company's guarantee balance for customers purchasing equipment through financing leases was RMB 0[16] - The company paid a risk fund of RMB 2,312 million to Huarong Leasing to offset overdue payments from Dahuai New Energy[16] - The total overdue rent for Dahuai New Energy amounted to RMB 9,274 million, with RMB 5,113.93 million owed to Huarong Leasing and RMB 4,160.07 million to Jinjun Leasing[16] - The company has received cash repayments of RMB 56,350,374.73 from Dahuai Group's restructuring plan, with RMB 29,309,370.73 from direct leasing projects[16] - The company expects to recover an additional RMB 2,368.95 million from the remaining unpaid amounts after tax deductions[16] - The company reversed bad debt provisions of RMB 3,653.35 million in 2021 related to priority and ordinary debts[16] Other Financial Information - Total operating costs increased to ¥354,863,489.26 from ¥321,018,058.98, representing a growth of approximately 10.5% year-over-year[38] - Revenue from sales of goods and services received cash of ¥368,199,877.10, compared to ¥256,550,916.63, showing a growth of approximately 43.5%[44] - The company experienced a negative impact of -$106,867.63 from foreign exchange fluctuations on cash and cash equivalents[48] - The first quarter report was not audited[49]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2021, representing a year-on-year increase of 15%[18]. - The net profit attributable to shareholders was RMB 150 million, which is a 10% increase compared to the previous year[18]. - The company's operating revenue for 2021 was ¥1,728,426,070.44, representing a 61.55% increase compared to ¥1,069,894,615.27 in 2020[26]. - The net profit attributable to shareholders in 2021 was ¥107,839,002.67, a significant increase of 280.49% from ¥28,342,068.26 in 2020[26]. - The company reported a quarterly revenue of ¥525,791,666.06 in Q4 2021, with a net profit of ¥24,087,965.06 attributable to shareholders[31]. - The company achieved a total consolidated operating revenue of CNY 1,728.43 million in 2021, a 61.55% increase from CNY 1,069.89 million in 2020[69]. - The net profit attributable to shareholders of the parent company reached CNY 107.84 million, representing a 280.49% increase compared to CNY 28.34 million in the previous year[69]. - The company reported a net profit of 150 million, reflecting a profit margin of 12.5%[180]. Research and Development - The company plans to invest RMB 200 million in R&D for new technologies and products in 2022, focusing on precision manufacturing and robotics[6]. - The company invested heavily in R&D, completing the development of various new products and optimizing existing technologies in multiple sectors, including carbon fiber and energy equipment[67]. - Research and development expenses increased by 56.95% to ¥97,404,231.58 due to expanded R&D projects[101]. - R&D investment increased by 56.95% to ¥97,404,231.58 in 2021, while the proportion of R&D investment to operating revenue decreased to 5.64% from 5.80% in 2020[107]. - The company is developing a new 4.2m wide carbon fiber production line, which is currently in the R&D phase[104]. - The company has ongoing R&D projects aimed at enhancing the quality of carbon fiber products and expanding market applications[104]. Market Expansion and Strategy - The company has outlined a market expansion strategy targeting Southeast Asia, aiming for a 30% increase in market share in the region by 2023[6]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2023[192]. - Market expansion plans include entering three new international markets by the end of 2022[180]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 100 million allocated for potential deals[180]. - The company aims to enhance the performance of new products and technologies while expanding its market share in polyurethane and steel truss lines[56]. Corporate Governance - The company has successfully completed the restructuring of its board and management, enhancing governance and compliance measures[68]. - The management team has undergone changes, with the appointment of two new independent directors to strengthen governance[182]. - The company emphasizes the importance of social responsibility, focusing on welfare and environmental protection[169]. - The company has established a robust governance structure, ensuring compliance with legal and regulatory requirements[169]. - The company has a dedicated information disclosure team led by the board secretary to manage daily disclosure activities[168]. Risks and Challenges - The company is currently undergoing a bankruptcy restructuring process for its major shareholder, which may impact future operations[5]. - The company has identified risks including industry competition and foreign exchange fluctuations, which could affect future performance[6]. - The company recognizes industry policy risks, particularly in the photovoltaic equipment sector, and plans to adjust product and industry structures accordingly[144]. - The company is facing intensified competition due to rapid advancements in new technologies such as artificial intelligence and big data, which could impact its market share and economic benefits if it fails to maintain innovation and technological leadership[145]. Operational Efficiency - The company has implemented cost control measures that include optimizing procurement processes and enhancing equipment utilization, which have positively impacted profitability[64]. - The company has successfully implemented cost-reduction strategies, resulting in a 5% decrease in operational expenses in 2021[192]. - The company is focusing on expanding its market presence and enhancing its product offerings through new technology development and strategic partnerships[80]. Future Outlook - The company aims to achieve a sales revenue target of CNY 2.3 billion (including tax) for 2022, focusing on improving efficiency and innovation[136]. - The company plans to accelerate new product development in line with national strategies for carbon peak and carbon neutrality, optimizing production line configurations and designs[137]. - The company plans to enhance its management and smart manufacturing capabilities to adapt to the evolving textile industry landscape[58]. - The company anticipates favorable development opportunities in 2022 due to supportive national policies for industries like photovoltaics and new materials[135].

Financial Performance - The company's operating revenue for Q3 2021 was ¥360,491,547.04, representing a year-on-year increase of 48.65%[3] - The net profit attributable to shareholders for Q3 2021 was ¥16,849,340.89, an increase of 80.94% compared to the same period last year[3] - The net profit after deducting non-recurring gains and losses for Q3 2021 was ¥15,998,970.54, showing a significant increase of 2,665.03% year-on-year[3] - The net profit for the year-to-date period increased by 400.25% to ¥83,751,037.61[3] - Total operating revenue for the current period reached ¥1,202,634,404.38, a significant increase from ¥699,669,816.86 in the previous period, representing a growth of approximately 72%[38] - Net profit for the current period was ¥80,899,672.54, up from ¥32,724,281.97 in the previous period, reflecting a growth of approximately 147%[41] - The company reported a total profit of ¥81,339,985.45, compared to ¥38,108,602.43 in the previous period, an increase of approximately 113%[41] Earnings and Shareholder Information - The company's basic earnings per share for Q3 2021 was ¥0.0370, up 80.49% year-on-year[3] - Basic and diluted earnings per share for the current period were both ¥0.1840, compared to ¥0.0368 in the previous period, marking an increase of 400%[45] - The total number of common shareholders at the end of the reporting period is 37,241[10] - Jinggong Group Co., Ltd. holds 31.16% of shares, totaling 141,809,800 shares, with 141,800,000 shares pledged and 141,809,800 shares frozen[10] - Sun Jianjiang, a natural person, holds 5.38% of shares, totaling 24,508,170 shares, with 24,500,000 shares pledged and frozen[10] - The top ten shareholders include Jinggong Group, Sun Jianjiang, and Shao Zhiming, with significant shareholdings and some shares pledged or frozen[10] Assets and Liabilities - The total assets at the end of Q3 2021 reached ¥2,462,677,925.68, which is an 18.91% increase from the end of the previous year[3] - As of September 30, 2021, the total assets of Zhejiang Jinggong Technology Co., Ltd. amounted to approximately CNY 2.46 billion, an increase from CNY 2.07 billion as of December 31, 2020, representing a growth of about 18.9%[31] - Total liabilities increased to approximately CNY 1.41 billion from CNY 1.10 billion, marking a rise of about 27.3%[36] - The company's equity attributable to shareholders increased to approximately CNY 1.03 billion from CNY 939.75 million, reflecting an increase of about 9.7%[36] Cash Flow and Financing Activities - The cash flow from operating activities for the year-to-date period decreased by 46.14% to ¥83,910,381.39[3] - Cash flow from operating activities generated a net amount of ¥83,910,381.39, down from ¥155,786,008.76 in the previous period[49] - Cash inflow from financing activities totaled $255.9 million, an increase from $233.4 million year-over-year[52] - Cash outflow from financing activities amounted to $285.57 million, compared to $212.16 million in the previous year[52] - Net cash flow from financing activities was -$29.67 million, a decline from a positive $21.24 million in the prior year[52] - The net increase in cash and cash equivalents was $40.93 million, significantly lower than $161.87 million in the same period last year[52] - The ending balance of cash and cash equivalents reached $320.64 million, up from $246.88 million year-over-year[52] Research and Development - The company's research and development expenses increased by 33.51% year-on-year, indicating a focus on innovation[7] - Research and development expenses increased to ¥62,190,843.20 from ¥46,582,205.54, showing a rise of about 33%[41] Inventory and Production - The company's inventory increased by 62.57% compared to the beginning of the year, reflecting expanded production to meet sales demand[7] - Inventory levels rose to approximately CNY 661.05 million, up from CNY 406.62 million, indicating an increase of about 62.4%[31] Financial Risks and Shareholder Control - The controlling shareholder, Jinggong Group, remains in bankruptcy reorganization, with 141,809,800 shares (31.16% of total shares) frozen, which poses a risk of control instability for the company[27] - The company is committed to maintaining operational independence from its controlling shareholder, ensuring compliance with relevant laws and regulations[27] - Investors are advised to assess the potential impacts of the controlling shareholder's bankruptcy reorganization on the company cautiously[27] Leasing and Guarantees - As of September 30, 2021, the company's guarantee balance for equipment purchased through financing leasing was RMB 111.58 million, with specific balances of RMB 51.14 million, RMB 41.60 million, and RMB 18.84 million from different leasing companies[15] - The company has paid a risk deposit of RMB 31.48 million to Huaron Financial Leasing for the photovoltaic equipment financing leasing business, which is used to offset overdue payments from the lessee[15] - The total overdue rent for the photovoltaic leasing projects amounts to RMB 92.74 million, with RMB 51.14 million owed to Huaron Financial Leasing and RMB 41.60 million to Jinju Leasing[15] - The company has recognized a bad debt provision of RMB 74.26 million related to the financing leasing business due to the bankruptcy restructuring of Shandong Dahai Group[18] - The company has signed multiple contracts for financing leasing, including a total purchase amount of RMB 136 million for solar equipment and RMB 35.19 million for textile equipment[15][19] - The company has been involved in financing leasing agreements with multiple partners, including Huaron Financial Leasing and Zhejiang Huijin Financial Leasing[15][19] Other Income and Expenses - Other income for the current period was ¥14,526,869.12, up from ¥9,778,431.46 in the previous period, indicating a growth of about 48%[41] - Tax expenses for the current period were ¥440,312.91, significantly lower than ¥5,384,320.46 in the previous period[41] - The company experienced a credit impairment loss of ¥6,423,839.46, contrasting with a gain of ¥3,071,202.52 in the previous period[41] Audit and Compliance - The third-quarter report was not audited, indicating a potential area for further scrutiny[54]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥842,142,857.34, representing an increase of 84.21% compared to ¥457,156,800.60 in the same period last year[26]. - The net profit attributable to shareholders of the listed company reached ¥66,901,696.72, a significant increase of 800.42% from ¥7,430,095.68 in the previous year[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥52,520,481.32, compared to a loss of ¥3,288,996.42 in the same period last year, marking a growth of 1,696.85%[26]. - The basic earnings per share increased to ¥0.15, up 650.00% from ¥0.02 in the previous year[26]. - The total assets at the end of the reporting period were ¥2,218,819,112.66, reflecting a growth of 7.14% from ¥2,070,985,186.43 at the end of the previous year[26]. - The net assets attributable to shareholders of the listed company were ¥1,009,585,345.63, an increase of 7.43% compared to ¥939,754,923.35 at the end of the previous year[26]. - The weighted average return on net assets was 6.86%, up from 0.82% in the previous year, indicating improved profitability[26]. - The company reported government subsidies amounting to ¥14,395,897.59 during the reporting period[29]. Cash Flow and Dividends - The net cash flow from operating activities was negative at -¥47,163,339.23, a decrease of 165.24% compared to ¥72,290,663.67 in the same period last year[26]. - The company plans not to distribute cash dividends or issue bonus shares[7]. - Cash and cash equivalents at the end of the reporting period amounted to ¥291,586,845.37, representing 13.14% of total assets, down from 15.90% the previous year[59]. Market Position and Product Development - The market share of the multi-crystalline silicon ingot furnace products exceeds 40%[37]. - The market share of the HKV series covering yarn machine in the textile equipment segment exceeds 65%[38]. - The company focuses on the development of carbon fiber production lines, single crystal furnaces, and polyurethane production lines, with continuous growth in orders[42]. - The company has established a one-stop solution for product development, manufacturing, and technical services, driven by customer demand[36]. - The company has made significant progress in the research and development of new projects, including mask machines and other automation equipment[42]. Operating Costs and Investments - Operating costs rose to ¥671,864,724.99, a 93.23% increase from ¥347,696,753.55, primarily due to the growth in revenue from textile machinery, building materials machinery, and carbon fiber production lines[50]. - Research and development investment increased by 70.75% to ¥39,204,840.47, up from ¥22,959,795.62, reflecting the company's commitment to innovation[50]. Sales and Revenue Growth - Domestic sales accounted for 98.01% of total revenue, amounting to ¥825,361,120.75, which is a 106.90% increase from ¥398,917,256.27 in the previous year[55]. - The revenue from the carbon fiber production line increased by 254.15% year-on-year, primarily due to a significant increase in the delivery of carbon fiber production lines[58]. - The revenue from the building materials machinery segment grew by 64.81% year-on-year, driven by a substantial increase in market sales of polyurethane production lines[58]. - The textile machinery segment saw a revenue increase of 117.89% year-on-year, mainly due to a significant growth in the domestic market for texturing machines[58]. Assets and Liabilities - Accounts receivable decreased to ¥213,518,674.70, accounting for 9.62% of total assets, a reduction from 15.43% year-on-year[59]. - Inventory increased to ¥464,399,100.27, representing 20.93% of total assets, up from 19.63% the previous year[59]. - Short-term borrowings decreased to ¥185,225,800.00, making up 8.35% of total assets, down from 10.73% year-on-year[59]. - Contract liabilities rose to ¥330,285,020.10, accounting for 14.89% of total assets, an increase from 12.41% the previous year[59]. Shareholder and Control Issues - The controlling shareholder, Jinggong Group, holds 31.16% of the company’s shares, which are currently under judicial freeze, posing a risk to control stability[85]. - The company is currently monitoring the restructuring process of its controlling shareholder, which may lead to changes in actual control and poses risks of control instability[106]. - The company has committed to maintaining independence from its controlling shareholder in terms of business, personnel, assets, and finance[106]. Related Party Transactions - The company reported a significant related party transaction involving the sale of specialized equipment to a related party, with a transaction amount of ¥12,035,000 (approximately $1.2035 million) and an approved transaction limit of ¥45,000,000 (approximately $4.5 million)[114]. - The company has signed a related party transaction agreement with its controlling shareholder, with an estimated transaction amount not exceeding ¥45,000,000 for the year 2021, including ¥35,000,000 for providing specialized equipment and services and ¥10,000,000 for purchasing parts and services[125]. Legal and Compliance Matters - The company has not faced any penalties or rectification requirements during the reporting period[110]. - There were no significant litigation or arbitration matters during the reporting period[108]. - The company has not engaged in any violations regarding external guarantees during the reporting period[101].

浙江精功科技股份有限公司 2021 年第一季度报告全文 浙江精功科技股份有限公司 2021 年第一季度报告 2021 年 04 月 1 浙江精功科技股份有限公司 2021 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人金越顺、主管会计工作负责人黄伟明及会计机构负责人(会计主 管人员)孙阳声明：保证季度报告中财务报表的真实、准确、完整。 2 浙江精功科技股份有限公司 2021 年第一季度报告全文 第二节 公司基本情况 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 ...

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2020, representing a year-on-year increase of 15%[2]. - The net profit attributable to shareholders was RMB 150 million, which is a 10% increase compared to the previous year[2]. - The company's operating revenue for 2020 was ¥1,069,894,615.27, representing a 23.63% increase compared to ¥865,386,565.14 in 2019[21]. - The net profit attributable to shareholders for 2020 was ¥28,342,068.26, a significant turnaround from a loss of ¥121,013,242.09 in 2019, marking a 123.42% improvement[21]. - The net cash flow from operating activities reached ¥206,089,770.87 in 2020, a remarkable increase of 1,072.22% from -¥21,197,954.28 in 2019[24]. - Basic earnings per share for 2020 were ¥0.06, compared to a loss of ¥0.27 per share in 2019, reflecting a 122.22% increase[24]. - The total assets at the end of 2020 amounted to ¥2,070,985,186.43, up 20.59% from ¥1,717,401,439.55 at the end of 2019[24]. - The weighted average return on equity for 2020 was 3.07%, a significant recovery from -12.55% in 2019, indicating a 123.75% improvement[24]. - The company reported a quarterly revenue breakdown for 2020, with Q4 revenue at ¥370,224,798.41, the highest among the quarters[27]. - The net profit attributable to shareholders in Q2 2020 was ¥22,692,803.90, showing a positive trend in profitability during the year[29]. Market Strategy and Expansion - The company has outlined a market expansion strategy targeting Southeast Asia, aiming for a 30% increase in market share by 2023[2]. - The company aims to enhance competitiveness by focusing on the development of high-end building materials machinery and promoting green production and consumption, with a target of achieving over 50% of new buildings being prefabricated by 2025[39]. - The company is recognized as a leading supplier in the solar photovoltaic equipment industry and has received multiple technology advancement awards[34]. - The company operates under a "sales-driven production" model, focusing on customer demand for its specialized equipment[34]. - The company aims to leverage its advantages in complete solutions and technology to improve product quality and market share, particularly in polyurethane and steel truss lines, while expanding into new technologies and products[43]. Research and Development - The company plans to invest RMB 200 million in R&D for new technologies and products in 2021[2]. - The company aims to accelerate the R&D of single crystal furnaces and diamond wire cutting machines to enhance its product offerings in the photovoltaic equipment sector[37]. - Research and development expenses increased by 34.79% to ¥62.06 million, indicating a strategic focus on innovation[91]. - The company completed the development and delivery of the first Korean pre-oxidation furnace and various carbon fiber production lines in 2020[93]. - The company is committed to enhancing its management and intelligent manufacturing capabilities while adapting its product structure to align with industry trends[45]. Risks and Challenges - The company is currently undergoing a bankruptcy restructuring process for its major shareholder, which may impact future operations[5]. - The company has identified risks including industry competition and foreign exchange fluctuations that could affect future performance[6]. - The construction machinery industry is facing increased competition due to trade tensions and protectionism, necessitating a shift from product sales to providing integrated solutions and services[40]. - The company faces risks from industry policies, particularly in the photovoltaic equipment sector, which may impact market demand[140]. - The controlling shareholder's shares are under judicial freeze, posing a risk of unstable control over the company[144]. Shareholder and Dividend Policy - No cash dividends or stock bonuses will be distributed to shareholders for the fiscal year 2020[6]. - The company did not distribute cash dividends for the years 2018, 2019, and 2020, with retained earnings rolling over to the next year[155]. - The company's profit distribution policy emphasizes a minimum cash distribution of 10% of the distributable profit each year, contingent on meeting specific conditions[155]. - The company reported a net profit of 28,342,068.26 yuan in 2020, but did not distribute any cash dividends, resulting in a cash dividend ratio of 0.00%[156]. - The company maintains a positive profit distribution policy, focusing on reasonable returns for investors and ensuring the continuity and stability of the policy[155]. Operational Efficiency - The company implemented cost control measures that resulted in the recovery of over ¥60 million in overdue receivables, enhancing overall profitability[65]. - The company’s cash flow from operating activities significantly improved year-on-year, indicating better financial health and operational efficiency[59]. - The company aims to raise funds through bank loans, corporate bonds, and capital market refinancing to meet business development needs[139]. - The company plans to enhance internal control and improve inventory and accounts receivable management to increase cash flow and product profitability[137]. Subsidiary Performance - The subsidiary Zhejiang Jinggong Robot Intelligent Equipment Co., Ltd. achieved a revenue of CNY 162,768,186.45 with a net profit of CNY 28,273,376.61 during the reporting period[119]. - The subsidiary Zhejiang Jinggong Precision Manufacturing Co., Ltd. generated an operating income of CNY 237,982,343.56 and a net profit of CNY 34,544,419.55, contributing significantly to the overall performance[116]. - The company’s subsidiary Zhejiang Jinggong New Material Technology Co., Ltd. reported a net loss of CNY 672,735.95, indicating challenges in its operations[119]. - The company completed the deregistration of its wholly-owned subsidiary Shaoxing Keqiao Jinggong Import and Export Co., Ltd. due to ongoing losses and lack of substantial business activities, which will not impact overall business development[125]. Compliance and Governance - The audit report for 2020 from Tianjian CPA provided a non-qualified opinion with an emphasis on matters related to the liquidity issues of the controlling shareholder, Jinggong Group, which filed for bankruptcy reorganization in September 2019[163]. - The board of directors is monitoring the situation regarding the controlling shareholder's bankruptcy reorganization, which may lead to changes in actual control of the company[165]. - The company has taken measures to ensure independence from the controlling shareholder in operations, personnel, assets, and finances[166]. - The independent directors are responsible for providing clear opinions on profit distribution proposals, ensuring transparency and compliance with regulations[155].

Financial Performance - Net profit attributable to shareholders increased by 194.53% to CNY 9,311,892.44 for the reporting period[9] - Operating revenue for the period was CNY 242,513,016.26, reflecting a year-on-year increase of 5.96%[9] - Basic earnings per share rose by 194.91% to CNY 0.0205[9] - The weighted average return on equity increased by 199.02% to 1.01%[9] - The company reported a net profit of CNY 16,741,988.12 for the year-to-date, up 126.20% compared to the same period last year[9] - Net profit attributable to the parent company increased by 126.20% year-on-year, turning from loss to profit, driven by significant market demand for mask-making machines due to the pandemic[22] - The estimated cumulative net profit for the year is projected to be between CNY 18 million and CNY 25 million, representing a year-on-year growth of 114.87% to 120.66%[52] - Basic earnings per share are expected to be between CNY 0.0395 and CNY 0.0549, indicating a growth of 114.86% to 120.65% compared to the previous year[53] - The company reported non-recurring gains and losses of CNY 20.65 million, significantly impacting the expected turnaround in net profit for the year[55] Cash Flow - Net cash flow from operating activities surged by 383.01% to CNY 83,495,345.09[9] - Net cash flow from operating activities increased by 5038.59% compared to the same period last year, mainly due to increased cash collections[22] - Net cash flow from investing activities decreased by 162.35% year-on-year, primarily due to increased bank financial product limits[22] - Net cash flow from financing activities increased by 134.83% compared to the previous year, mainly due to an increase in bank loans of 29.9 million yuan by a wholly-owned subsidiary[22] - The net cash flow from operating activities was ¥142,925,658.77, a significant improvement compared to the previous period's net cash flow of -¥81,533.85[129] - Cash inflow from operating activities totaled ¥493,764,545.05, up from ¥452,280,577.01 in the prior period, indicating a growth of approximately 9.5%[129] - The net cash flow from investment activities was -¥35,510,807.12, a decline from the previous period's positive cash flow of ¥18,941,930.43[129] - The net cash flow from financing activities was -¥8,021,673.39, an improvement from -¥40,972,494.73 in the previous period[132] Assets and Liabilities - Total assets increased by 9.69% to CNY 1,883,744,382.90 compared to the end of the previous year[9] - Cash and cash equivalents increased by 136.55% compared to the beginning of the year, primarily due to increased cash collections during the reporting period[22] - Total current assets amounted to ¥1,390,596,679.72, an increase of 15.75% from ¥1,201,144,794.24 on December 31, 2019[70] - The company's total equity attributable to shareholders rose to ¥924,604,797.18 from ¥905,730,224.38, a growth of 2.83%[79] - Total liabilities increased to ¥743,151,134.33 from ¥644,292,046.69, representing a rise of about 15.4%[86] - Total assets reached ¥1,883,744,382.90, up from ¥1,717,401,439.55, reflecting a growth of 9.66%[79] - Current liabilities increased to ¥922,065,900.85 from ¥780,235,061.65, marking an increase of 18.14%[76] Shareholder Information - The total number of shareholders at the end of the reporting period was 45,547[13] - The largest shareholder, Jingong Group Co., Ltd., holds 31.16% of the shares[13] - The controlling shareholder, Jinggong Group, holds 141,809,800 shares, accounting for 31.16% of the total share capital, all of which are subject to judicial freezing[38] Business Operations - The company has not made any adjustments or restatements to previous accounting data[9] - The company plans to continue expanding its financing leasing business with various leasing companies, maintaining a guarantee balance of up to 40 million yuan for specific projects[23] - The company signed a sales contract with Jilin Jinggong Carbon Fiber Co., Ltd. for a complete production line of large tow carbon fiber, with a total contract amount of RMB 183 million (including tax)[43] - The company has completed the installation of a carbon fiber production line worth CNY 183 million, with CNY 11.86 million in sales revenue recognized to date[61] - The company is currently in a judicial reorganization phase, with significant uncertainty regarding the success of the bankruptcy reorganization[39] - The company has not engaged in any securities or derivative investments during the reporting period[56][62] Research and Development - Research and development expenses for the current period were ¥23,622,409.92, significantly higher than ¥10,770,783.91 in the previous period, marking an increase of about 119.5%[91] - Research and development expenses increased to ¥46,582,205.54 from ¥30,324,671.61, reflecting a growth of approximately 54%[105] - Research and development expenses increased to ¥25.22 million from ¥19.36 million, reflecting a rise of approximately 30.5%[116]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥457,156,800.60, representing a 9.41% increase compared to ¥417,831,962.65 in the same period last year[26] - The net profit attributable to shareholders of the listed company was ¥7,430,095.68, a significant turnaround from a loss of ¥54,040,975.10 in the previous year, marking a 113.75% improvement[26] - The net cash flow from operating activities reached ¥72,290,663.67, which is a 174.36% increase from ¥26,348,476.95 in the same period last year[26] - Basic earnings per share improved to ¥0.02 from a loss of ¥0.12, reflecting a 116.67% increase[26] - The total assets of the company at the end of the reporting period were ¥1,737,605,812.98, a 1.18% increase from ¥1,717,401,439.55 at the end of the previous year[26] - The net assets attributable to shareholders of the listed company were ¥914,929,686.07, up 1.02% from ¥905,730,224.38 at the end of the previous year[26] - The company achieved a consolidated sales revenue of 457.16 million yuan (approximately $70.5 million), representing a year-on-year growth of 9.41%[48] - The net profit attributable to shareholders reached 7.43 million yuan (approximately $1.15 million), marking a significant year-on-year increase of 113.75%[48] - Total assets amounted to 1.74 billion yuan (approximately $267 million), reflecting a growth of 1.18% since the beginning of the year[48] - The company expects a cumulative net profit of CNY 15 million for the year, representing a 123.48% increase compared to the previous year[81] - Basic earnings per share are projected to be CNY 0.0330, reflecting a 123.50% increase year-over-year[81] Market Position and Product Development - The company holds a market share of over 40% in the photovoltaic equipment sector, specifically in the production of multi-crystalline silicon ingot furnaces[38] - The company achieved a market share of over 65% in the niche market for yarn processing equipment, particularly in the HKV series covering machines[39] - The company has developed a carbon fiber production line capable of producing over 1,000 tons annually, utilizing advanced technology from renowned international suppliers[39] - The company is actively engaged in the development of intelligent manufacturing solutions, including automated assembly and logistics systems[39] - The company is focusing on the development of new products such as carbon fiber production lines, mask production lines, and robotic integration applications, enhancing its market competitiveness[46] Risks and Challenges - The company faces risks including industry policy risks and intensified competition, which could impact future performance[7] - The company faces risks from industrial policy changes, particularly in the photovoltaic equipment sector, which could impact market demand for its products[85] - Increased competition in the industry due to advancements in AI, big data, and cloud computing necessitates continuous innovation to maintain market share and economic benefits[86] - The majority of accounts receivable are from reputable clients, but potential credit issues could lead to cash flow challenges and bad debt losses[89] - As of the report date, the controlling shareholder, Jinggong Group, holds 31.16% of the company's shares, which are currently frozen due to bankruptcy proceedings, posing a risk to control stability[90] Corporate Governance and Shareholder Information - The company has not experienced any major litigation or arbitration matters during the reporting period[103] - There are no significant penalties or rectification measures reported for the company during the reporting period[104] - The board of directors emphasizes the need for investors to assess the potential impact of the bankruptcy reorganization on the company and to exercise caution in their investments[105] - The total number of ordinary shareholders at the end of the reporting period was 41,549, with the largest shareholder, Jinggong Group Co., Ltd., holding 31.16% of the shares[172] - The company did not engage in any repurchase agreements during the reporting period, reflecting a conservative approach to capital management[179] - The financial report for the first half of 2020 was not audited, which may affect the reliability of the financial data presented[200] Operational Changes and Strategic Initiatives - The company has made changes to its business scope, expanding into specialized equipment manufacturing and environmental protection equipment[24] - The company has implemented cost control measures, including a bidding model to reduce procurement costs and improved inventory management, contributing to increased profitability[47] - The company has established partnerships with major domestic and international clients, securing significant projects in various sectors, including aerospace and environmental protection[46] - The company has streamlined its organizational structure by deregistering Shaoxing Keqiao Jinggong Import and Export Co., Ltd., which had been operating at a loss[80] - The company has not implemented any employee incentive plans during the reporting period[106] Financial Management and Investments - The company has not reported any significant changes in major assets, including equity, fixed assets, intangible assets, or construction in progress[42] - The company reported no derivative investments during the reporting period[64] - There were no fundraising activities or significant non-fundraising investment projects during the reporting period[65][66] - The company did not sell any significant assets or equity during the reporting period[68][69] - The company has not engaged in entrusted financial management during the reporting period[132] - The company has approved a total guarantee amount of 55 million yuan (approximately $8.5 million) by the end of the reporting period, with an actual guarantee balance of 14.82 million yuan (approximately $2.3 million)[126] Contracts and Agreements - The company signed contracts for 6 carbon fiber production lines, with 1 contract already effective and 5 pending activation, including 2 pre-orders[46] - The company signed a related transaction agreement with its controlling shareholder, Jinggong Group, for the year 2020, with an expected transaction amount not exceeding 45 million yuan (approximately $6.9 million)[117] - The company signed a contract with Jiangsu Aoming Energy Co., Ltd. for the sale of diamond wire slicing machines, with a total amount of RMB 105 million (including tax)[139] - The company signed a sales contract with Jilin Jinggong Carbon Fiber Co., Ltd. for a complete production line of large tow carbon fiber, with a total contract amount of RMB 183 million (including tax)[158]

Financial Performance - The company's operating revenue for Q1 2020 was ¥163,360,801.77, a decrease of 6.25% compared to ¥174,259,365.59 in the same period last year[9]. - The net profit attributable to shareholders was -¥15,262,708.22, an improvement of 44.09% from -¥27,298,249.15 year-on-year[9]. - The basic earnings per share for the period was -¥0.03, showing a 50.00% improvement from -¥0.06 in the same period last year[9]. - The company reported a total comprehensive loss of CNY -16,654,217.80 for the current period, an improvement from CNY -29,921,020.81 in the previous period[83]. - The total comprehensive income for the period was -17,378,332.23, compared to -19,807,834.65 in the previous period[90]. Cash Flow - The net cash flow from operating activities increased significantly by 276.12%, reaching ¥56,423,167.42, compared to -¥32,037,270.80 in the previous year[9]. - Cash received from sales of goods and services amounted to 233,018,981.33, up from 180,610,469.27 in the previous period[91]. - The net cash inflow from investment activities was approximately ¥30.54 million, a significant increase compared to ¥206,727.09 from the previous period[101]. - The net increase in cash and cash equivalents was 114,845,189.15, compared to a decrease of -18,266,096.36 in the previous period[97]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,724,002,454.66, reflecting a slight increase of 0.38% from ¥1,717,401,439.55 at the end of the previous year[9]. - Total liabilities increased to CNY 822,607,231.19 from CNY 800,204,411.65, marking an increase of about 2.0%[62]. - The total liabilities of the company stood at ¥800.20 million, with current liabilities accounting for ¥780.24 million[107]. - The owner's equity totaled ¥917.20 million, with the equity attributable to shareholders amounting to ¥905.73 million[107]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 46,368[12]. - The largest shareholder, Jinggong Group Co., Ltd., held 31.16% of the shares, totaling 141,809,800 shares[13]. - The company’s major shareholder, Jingong Group, holds 141,809,800 shares, accounting for 31.16% of the total share capital, all of which are under judicial freezing[36]. Government and Non-Operating Income - The company received government subsidies amounting to ¥6,256,559.86 during the reporting period[9]. - The company reported a non-operating income of ¥5,621,247.70, which includes various income and expenses[9]. - Other income increased by 22651.13% year-on-year, primarily due to a substantial increase in subsidy income[25]. Operational Highlights - The company has signed leasing contracts totaling 13.6 million yuan and 7.514 million yuan for photovoltaic equipment with Huarong Leasing and Jinju Leasing respectively[30]. - The company signed a sales contract with Jilin Jingong Carbon Fiber Co., Ltd. for a complete production line of large tow carbon fiber, with a total contract value of RMB 183,000,000[41]. - The company's subsidiary, Zhejiang Jingong Intelligent Equipment Co., Ltd., has delivered mask production lines, contributing positively to the company's revenue[42]. Future Outlook - The company expects a net profit increase of over 50% for the first half of 2020, with a projected net profit range of RMB 5,000,000 to RMB 10,000,000, compared to a net loss of RMB 54,041,000 in the same period of 2019[42]. - The company plans to continue focusing on market expansion and new product development to drive future growth[79]. Legal and Compliance - The company has no involvement in securities investment, entrusted financial management, or derivative investments during the reporting period[45][46][47]. - The first quarter report for 2020 was not audited[114].