Financial Performance - The company's operating revenue for 2019 was CNY 1,988,441,032.51, representing an increase of 18.65% compared to CNY 1,675,905,200.32 in 2018[15] - The net profit attributable to shareholders for 2019 was CNY 96,771,189.11, a 5.13% increase from CNY 92,046,132.13 in 2018[15] - The net profit after deducting non-recurring gains and losses was CNY 38,549,960.77, which is a significant increase of 34.00% compared to CNY 28,767,606.95 in 2018[15] - The net cash flow from operating activities surged to CNY 397,591,275.06, marking a dramatic increase of 387.38% from CNY 81,577,799.83 in 2018[15] - The total assets at the end of 2019 were CNY 3,692,359,967.46, a decrease of 4.56% from CNY 3,868,649,596.45 at the end of 2018[16] - The net assets attributable to shareholders increased by 5.68% to CNY 1,302,463,372.46 from CNY 1,232,442,360.75 at the end of 2018[16] - The basic earnings per share for 2019 were CNY 0.2394, reflecting a 5.14% increase from CNY 0.2277 in 2018[15] - The weighted average return on equity was 7.63%, slightly down from 7.65% in 2018[15] Dividend Distribution - The company plans to distribute a cash dividend of CNY 0.25 per 10 shares, totaling CNY 101,066,234.90 based on 404,264,936 shares[4] - The cash dividend for 2018 represented 20.67% of the net profit attributable to the parent company, while the 2019 proposed dividend represents 10.44%[118] - The company’s net profit for 2019 was 101,208,425.75 yuan, with distributable profits amounting to 397,589,825.57 yuan after accounting for the dividend distribution[120] - The cash dividend distribution plan for 2019 is pending approval from the annual general meeting[121] Business Operations and Strategy - The company has completed the strategic layout of the entire industrial chain in the smart energy business, which includes power product business, power design, and integrated operation and maintenance business[14] - The company actively explores new business directions in energy conservation, environmental protection, and contract energy management to enhance its overall solution capabilities for smart cities[28] - The company has maintained its position as an important supplier for the State Grid Corporation, with its protection automation products widely applied across all provinces in China[26] - The company is actively expanding its market presence internationally, with some products exported to countries like India, Pakistan, and Vietnam[34] - The company is focused on optimizing its asset structure and improving financial efficiency through strategic divestitures[85] Research and Development - The company has over 300 dedicated R&D personnel and has established multiple research centers, including a smart energy R&D center and a smart city research institute[33] - The company holds more than 100 patents and 200 software copyrights, demonstrating its commitment to innovation and technology advancement[33] - The company is leveraging advanced technologies such as big data and artificial intelligence to enhance urban management and governance capabilities[95] Market Performance - The revenue from the smart energy segment decreased by 9.96% to approximately ¥823.78 million, accounting for 41.43% of total revenue[50] - The smart city segment saw a significant growth of 53.33%, with revenue reaching approximately ¥1.16 billion, making up 58.45% of total revenue[50] - The company achieved a 75.02% increase in revenue from intelligent products and services, totaling approximately ¥811.53 million[51] Investment and Projects - The company is currently investing in the second phase of the Xinjiang Mu Lei Lao Jun Miao Wind Farm, with a capacity of 250MW, expected to be operational by the end of 2020[45] - The company has signed contracts worth 172,409,000 CNY that have not yet been recognized as revenue as of December 31, 2019[57] - The company is actively pursuing market expansion in the renewable energy sector, with ongoing projects in wind energy[80] Risk Management - The company is facing risks related to technology innovation, market competition, talent retention, accounts receivable, and macroeconomic factors[101][102][103][104][105] - The company is addressing the risk of accounts receivable by enhancing project selection, client quality, and collection efforts[104] - The company acknowledges the impact of the COVID-19 pandemic on its operations and revenue, with potential year-on-year declines[105] Corporate Governance and Compliance - The company emphasizes the protection of shareholder and creditor rights, adhering to legal regulations and improving corporate governance[169] - The company has maintained a transparent and compliant dividend policy, ensuring the protection of minority shareholders' rights[115] - The company ensured accurate and timely information disclosure, with no incidents of selective disclosure reported[170] Social Responsibility - The company has maintained a strong commitment to quality management, achieving ISO 9001:2015 certification and ensuring compliance with quality standards in production[177] - The company actively engages in social responsibility initiatives, including donations to educational institutions and support for poverty alleviation projects[181] - The company donated a total of 700,000 RMB to support COVID-19 relief efforts, including contributions to local hospitals[180]

Financial Performance - Operating revenue increased by 18.64% to CNY 447,178,118.94 for the current period, and by 12.79% to CNY 1,292,056,918.17 year-to-date[8] - Net profit attributable to shareholders decreased by 89.84% to CNY 2,196,873.55 for the current period, while year-to-date net profit increased by 19.88% to CNY 96,473,594.08[8] - Basic earnings per share dropped by 89.91% to CNY 0.0054 for the current period, while year-to-date it increased by 19.84% to CNY 0.2386[8] - Total operating revenue for Q3 2019 was CNY 447,178,118.94, an increase of 18.6% compared to CNY 376,910,512.92 in the same period last year[47] - Net profit for Q3 2019 was CNY 2,886,133.71, a decrease of 86.9% from CNY 21,927,003.50 in Q3 2018[48] - The company reported a total comprehensive income of CNY 2,886,133.71 for Q3 2019, significantly lower than CNY 25,816,889.64 in the previous year[49] - The company reported a total comprehensive income attributable to the parent company of ¥93,579,778.70, compared to ¥82,331,404.05 in the previous period, an increase of 13.7%[55] Cash Flow - Net cash flow from operating activities surged by 324.78% to CNY 74,558,258.40 for the current period, and by 153.93% to CNY 94,535,399.94 year-to-date[8] - Cash flow from operating activities increased by 153.93% year-on-year, mainly due to increased cash received from sales of goods and services[17] - Cash flow from operating activities generated a net amount of CNY 94,535,399.94 in Q3 2019, a turnaround from a negative cash flow of CNY -175,277,240.50 in the same quarter last year[62] - Investment activities generated a net cash flow of CNY 210,709,786.70 in Q3 2019, compared to CNY 48,956,187.65 in Q3 2018, showing a substantial increase[63] Assets and Liabilities - Total assets decreased by 13.61% to CNY 3,342,211,359.35 compared to the end of the previous year[8] - Cash and cash equivalents decreased by 30.98% compared to the beginning of the year, primarily due to the repayment of corporate bonds[16] - Total liabilities decreased from CNY 2,528,368,141.40 to CNY 1,980,720,531.31, a reduction of approximately 22%[39] - The company's total liabilities decreased to CNY 834,495,484.67 from CNY 1,176,116,583.09 year-over-year, representing a reduction of 29.0%[45] - Total current assets decreased from CNY 2,630,452,490.17 as of December 31, 2018, to CNY 2,288,474,412.17 as of September 30, 2019, representing a decline of approximately 13%[37] - Total non-current assets fell from CNY 1,238,197,106.28 to CNY 1,053,736,947.18, a decline of around 15%[38] Shareholder Information - The total number of shareholders at the end of the reporting period was 25,901[12] - Jiangsu Jinzhi Group Co., Ltd. held 36.72% of shares, with 95,325,800 shares pledged[12] - The first employee stock ownership plan held 4,800,000 shares, accounting for 1.187% of the total share capital as of the latest report[19] Investment and Expenses - Investment income increased by 377.45% year-on-year, primarily due to the transfer of equity in Zijin Trust and other assets[16] - Research and development expenses for Q3 2019 were CNY 29,558,794.43, down 8.0% from CNY 32,325,610.76 in Q3 2018[47] - Research and development expenses increased to ¥109,462,787.44, up from ¥95,550,255.74, indicating a growth of 14.5%[52] Other Financial Metrics - The company reported non-recurring gains of CNY 58,449,443.58, primarily from the disposal of assets and government subsidies[9] - The weighted average return on net assets was 0.18% for the current period, down by 1.54%[8] - The company incurred financial expenses of CNY 23,748,859.58 in Q3 2019, down from CNY 41,265,593.86 in Q3 2018, reflecting a decrease of approximately 42%[58] - The company experienced a credit impairment loss of ¥13,088,286.37 during the period[54]

Financial Performance - The company's operating revenue for the first half of 2019 was approximately ¥844.88 million, representing a 9.91% increase compared to ¥768.67 million in the same period last year[17]. - The net profit attributable to shareholders for the same period was approximately ¥94.28 million, a significant increase of 60.18% from ¥58.86 million year-on-year[17]. - Basic earnings per share rose to ¥0.2332, reflecting a 60.16% increase compared to ¥0.1456 in the previous year[17]. - The company's revenue for the reporting period reached ¥844,878,799.23, representing a year-on-year increase of 9.91% compared to ¥768,667,953.16 in the previous year[43]. - The smart city business segment achieved significant growth, with revenue increasing by 51.76% to ¥463,967,861.74, up from ¥305,730,650.57 in the same period last year[46]. - The company's net profit for the first half of 2019 was CNY 89,303,525.48, compared to CNY 55,064,940.49 in the first half of 2018, representing a growth of 62.2%[152]. - The total comprehensive income attributable to the parent company was approximately ¥91.38 million in the first half of 2019, compared to ¥57.56 million in the same period of 2018, reflecting an increase of 58.7%[155]. Cash Flow and Financial Position - The net cash flow from operating activities improved to approximately ¥19.98 million, a turnaround from a negative cash flow of ¥192.83 million in the previous year, marking a 110.36% increase[17]. - Operating cash flow improved significantly, with a net increase of ¥19,977,141.54, compared to a negative cash flow of ¥192,829,385.51 in the previous year, marking a 110.36% improvement[44]. - The company reported a net cash outflow from financing activities of ¥559,912,574.19, compared to a smaller outflow of ¥160,074,147.06 in the first half of 2018[161]. - The total cash and cash equivalents at the end of the reporting period was ¥187,211,387.95, down from ¥308,560,864.25 at the end of the previous year[161]. - The company's cash and cash equivalents decreased to CNY 255,550,624.94, accounting for 8.07% of total assets, primarily due to debt repayments[55]. - The company's total assets decreased to CNY 1,923,864,884.88 as of June 30, 2019, down from CNY 2,223,655,470.20 at the end of 2018[149]. Investments and Divestitures - Non-recurring gains included approximately ¥17.74 million from the disposal of non-current assets and ¥62.39 million from fair value changes of financial assets[21][22]. - The company has transferred its two solar photovoltaic power stations in Bulgaria (totaling 8MW) to focus on its core business and reduce financial leverage, with plans to further divest the remaining 2MW station[37]. - The company reported a significant increase in investment cash flow, with a net amount of ¥212,922,097.26, up 314.60% from ¥51,355,777.80 in the previous year, mainly due to the transfer of equity stakes[44]. - The company sold a 100% equity stake in Qianhua Electric Power Co., Ltd. for RMB 600,000, resulting in a net profit contribution of RMB -430.10 million, accounting for 7.38% of total net profit[67]. Business Strategy and Market Expansion - The company plans to focus on the integration of smart energy and smart city sectors, enhancing its core business in power automation and information technology[24]. - The company is actively exploring new business directions in energy conservation and environmental protection, enhancing its overall solution capabilities for smart city projects[29]. - The company is actively exploring the integration of smart energy and smart city businesses, aiming to become a leading provider of comprehensive energy services in China[41]. - The company has successfully expanded its smart transmission and distribution product applications across various provinces, with notable growth in Jiangsu, Shaanxi, and Anhui, and has been recognized as a qualified supplier for the State Grid Corporation[35]. - The company has actively pursued market expansion in the electric design business, winning multiple wind and solar project design contracts, and has collaborated with various regional power supply companies on transmission and transformation projects[37]. Research and Development - Research and development expenses rose by 26.38% to ¥79,903,993.01, primarily due to increased personnel costs and investments in new products[44]. - The company has developed a new generation of smart distribution terminals based on Huawei's domestic chips, which have passed various tests and gained full bidding qualifications for smart distribution terminals[35]. - The company reported an investment income of CNY 93,693,484.03 for the first half of 2019, significantly higher than CNY 17,260,426.43 in the first half of 2018[152]. Shareholder and Equity Information - The company did not plan to distribute cash dividends or issue bonus shares for this reporting period[6]. - The total share capital increased to 404,264,936 shares after a capital reserve transfer in May 2019, which involved 166,462,032 shares[182]. - The company reported a total share capital increase of 166,462,032 shares, resulting in a new total of 404,264,936 shares[117]. - The company has a liquidity support commitment of 43.5732 million yuan, which has been fully repaid[80]. Risks and Challenges - The company faces risks from uncertain technological developments in the smart grid and smart city sectors, which could impact project implementation[71]. - Increased competition in the electric power product sector is anticipated due to the entry of large state-owned design institutes into the renewable energy design market[72]. - The potential for reduced electricity prices due to national policy changes poses a risk to the profitability of the company's renewable energy operations[74]. - The company is monitoring the impact of macroeconomic uncertainties on market demand and financing costs[74]. Compliance and Governance - The half-year financial report has not been audited[82]. - The company has no major litigation or arbitration matters during the reporting period[84]. - The company has made commitments to avoid competition in the same industry, which are being strictly fulfilled[80].

2019 年 04 月 1 江苏金智科技股份有限公司 2019 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。 江苏金智科技股份有限公司 2019 年第一季度报告全文 江苏金智科技股份有限公司 2019 年第一季度报告 所有董事均已出席了审议本次季报的董事会会议。 公司负责人徐兵、主管会计工作负责人张浩及会计机构负责人(会计主管人 员)顾红敏声明：保证季度报告中财务报表的真实、准确、完整。 2 江苏金智科技股份有限公司 2019 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 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 403,557,284.26 | 384,614,049.22 | 4.93% | | 归属于上市公司股东的净利润（元） | 29,867,964.75 | 21,317,664 ...

Financial Performance - The company's operating revenue for 2018 was ¥1,675,905,200.32, a decrease of 27.32% compared to ¥2,305,959,694.01 in 2017[18] - The net profit attributable to shareholders was ¥92,046,132.13, down 40.03% from ¥153,483,386.67 in the previous year[18] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥28,767,606.95, a decline of 77.35% from ¥127,036,773.39 in 2017[18] - Basic earnings per share decreased to ¥0.3871, down 40.06% from ¥0.6458 in the previous year[18] - The total assets at the end of 2018 were ¥3,868,649,596.45, a decrease of 2.58% from ¥3,970,989,471.10 at the end of 2017[18] - The net assets attributable to shareholders increased by 4.83% to ¥1,232,442,360.75 from ¥1,175,616,543.99 in 2017[18] - The weighted average return on net assets was 7.65%, down from 12.62% in the previous year[18] - The company reported a significant decline in the electric design and general contracting business, with revenue dropping by 86.85% to CNY 123,064,136.27[59] - The company reported a loss of CNY 1,358.9 million for the year 2018[90] - The company reported a total revenue of CNY 954.48 million for the year 2018, reflecting a decrease of 54.48% compared to the previous year[90] Cash Flow and Investments - The net cash flow from operating activities improved significantly to ¥81,577,799.83, compared to a negative cash flow of ¥77,678,491.41 in 2017, marking a 205.02% increase[18] - Cash inflow from investment activities decreased by 31.66% year-on-year, mainly due to a reduction in the amount of bank wealth management products redeemed[78] - Cash outflow from investment activities decreased by 64.31% compared to the previous year, primarily due to a decrease in fixed asset investments[78] - The net increase in cash and cash equivalents rose, driven by the increase in net cash flow from operating activities[79] - The company reported a decrease in cash and cash equivalents by ¥92,888,472.36, an improvement of 56.69% compared to the previous year's decrease[77] Business Expansion and Strategy - The company is actively expanding its business in smart energy and smart city sectors, focusing on innovative applications in renewable energy and energy conservation[16] - The company has completed a strategic layout in the smart energy sector, focusing on power automation and integrating with smart city initiatives[27] - The company is actively exploring new market opportunities in comprehensive energy services and smart city solutions[32] - The company aims to enhance its core competitiveness by aligning its business with national energy development strategies[27] - The company is focusing on expanding its comprehensive energy service business, aiming to become a leading provider of integrated energy solutions in China[44] Research and Development - The company has over 100 patents and 11 software copyrights, reflecting its strong commitment to R&D and innovation[37] - The company has over 200 dedicated R&D personnel and has formed partnerships with several prestigious universities for collaborative research[37] - The company has successfully developed new products such as the plant-level AGC and energy internet cloud platform, which are now in the promotion phase[45] - The company is actively investing in the construction of a ubiquitous power IoT and integrated energy services, which is expected to become a new growth point in the smart energy business[114] - The company is increasing its investment in technology research and development, with projects involving advanced technologies such as computer technology and power automation control[115] Market Performance - The company's total revenue for Q4 was 530,326,734.24 CNY, showing a significant increase compared to previous quarters[22] - The net profit attributable to shareholders for Q2 was 37,540,451.67 CNY, representing a substantial growth from Q1[22] - The net cash flow from operating activities in Q4 was 256,855,040.33 CNY, indicating a strong recovery from negative cash flow in earlier quarters[22] - The revenue from the power products business increased by 7.93% to ¥725.93 million, accounting for 43.32% of total revenue[55] - The revenue from the smart city business grew by 19.75% to ¥758.01 million, representing 45.23% of total revenue[55] Shareholder and Dividend Information - The company plans to distribute a cash dividend of ¥0.80 per 10 shares, totaling approximately ¥19,024,232.32 based on 237,802,904 shares[5] - The cash dividend for 2018 represents 20.67% of the consolidated net profit attributable to shareholders, while the 2017 dividend was 23.24% and the 2016 dividend was 32.67%[129] - The company has maintained a consistent cash dividend distribution policy over the past three years, with clear standards and procedures in place[126] - The proposed cash dividend for 2018 is subject to approval at the company's annual general meeting[133] - The company reported a net profit of 24,779,613.55 CNY for the 2018 fiscal year, with distributable profits amounting to 323,669,896.22 CNY after accounting for the proposed cash dividends[133] Corporate Governance and Compliance - The company has established internal control systems to ensure compliance with laws and regulations, safeguarding the interests of all stakeholders[176] - The company’s independent directors provide opinions on related party transactions to protect minority shareholders[176] - The company actively engages in social responsibility initiatives, including environmental protection and support for national education[175] - The company has implemented changes in accounting policies, including the consolidation of accounts receivable and notes receivable into a single line item on the balance sheet[138] - The company has maintained its accounting firm, Tianheng Accounting Firm, for 19 consecutive years, with an audit fee of ¥600,000 for the current period[143] Risks and Challenges - The company faces significant market competition, particularly in the power products sector, where major clients have adopted centralized bidding processes, raising market entry barriers[118] - The company anticipates risks from national macro policies, including potential electricity price reductions and the impact of renewable energy subsidy adjustments on profitability[120] - The company is addressing the risk of talent loss due to competitive pressures in the industry, focusing on improving talent cultivation and incentive mechanisms[118] - The company is implementing measures to manage accounts receivable risks, as the payment structure often involves prepayments and progress payments, leading to cash flow pressures[119] Environmental and Social Responsibility - The company has achieved ISO 14001:2004 environmental management system certification, emphasizing energy conservation and pollution prevention in its operations[182] - The company has invested in a 300kWp solar power station and a 500kWp photovoltaic power station, reflecting its commitment to sustainable development[182] - The company has not been classified as a key pollutant discharge unit by environmental protection authorities, indicating its low environmental impact[185] - The company has been involved in various social welfare activities, contributing to disaster relief and public welfare[175]

Financial Performance - Operating revenue for the reporting period was CNY 376,910,512.92, down 15.62% year-on-year, and year-to-date revenue was CNY 1,145,578,466.08, a decrease of 32.65%[5] - Net profit attributable to shareholders for the reporting period was CNY 21,627,781.51, a decline of 32.03%, with year-to-date net profit at CNY 80,471,891.70, down 26.36%[5] - Basic earnings per share for the reporting period were CNY 0.0909, a decrease of 32.06% year-on-year[6] - The weighted average return on equity was 1.72%, down 0.72% compared to the previous year[6] - The company expects a net profit attributable to shareholders for 2018 to decrease by 30% to 0%, with an estimated range of 10,743 to 15,348 million yuan[20] Cash Flow and Assets - The net cash flow from operating activities was CNY 17,552,145.01, an increase of 116.15% compared to the same period last year[5] - Cash and cash equivalents decreased by 53.06% compared to the beginning of the year, mainly due to increased payments for the EPC contract of the 198MW wind farm project[13] - Net cash flow from operating activities increased by 62.23% year-on-year, attributed to higher cash received from sales and reduced cash payments for goods and services[14] - Total assets at the end of the reporting period were CNY 3,913,623,414.78, a decrease of 1.44% compared to the end of the previous year[5] Shareholder Information - The total number of shareholders at the end of the reporting period was 14,941[9] - The largest shareholder, Jiangsu Jinzhi Group Co., Ltd., held 37.59% of the shares, totaling 89,395,870 shares[9] Project and Revenue Recognition - Operating revenue decreased by 32.65% year-on-year, primarily due to the completion of the 198MW wind farm project, resulting in significantly lower revenue recognition[13] - The cumulative sales revenue recognized for the 198MW wind farm project reached 1,384.18 million yuan, with 41.94 million yuan recognized in the first nine months of 2018[18] - The company has received a total of 1,335.97 million yuan in payments for the 198MW wind farm project as of September 30, 2018[18] Investments and Financial Management - Investment income increased by 45.37% year-on-year, driven by dividends from the company's stake in Zijin Trust and increased income from bank financial products[14] - The company has invested a total of 24,390 million in bank wealth management products, with an outstanding balance of 3,728 million[25] - The expected annualized return rate for the bank wealth management product is 3.53%, with an anticipated income of 505.46 million[25] - There are no overdue amounts that have not been recovered, indicating a strong performance in managing wealth management investments[25] Other Financial Activities - Financial expenses increased by 65.71% year-on-year, mainly due to reduced interest capitalization for the EPC project[13] - Other receivables increased by 48.17% compared to the beginning of the year, primarily due to increased bid guarantees and standby funds[13] - The company did not engage in any repurchase transactions during the reporting period[11] - The company has not engaged in any mergers or acquisitions during the reporting period[15] Investor Relations - The company has engaged in investor relations activities, including on-site visits and phone communications with institutions on July 24 and July 31, 2018[27] - The company plans to continue its wealth management initiatives, as indicated by the ongoing investment strategies[25]

Financial Performance - The company's operating revenue for the first half of 2018 was ¥768,667,953.16, a decrease of 38.72% compared to ¥1,254,318,829.89 in the same period last year[17]. - The net profit attributable to shareholders was ¥58,858,116.57, down 24.01% from ¥77,458,209.55 year-on-year[17]. - The net profit after deducting non-recurring gains and losses was ¥36,107,259.35, representing a decline of 47.86% compared to ¥69,249,458.11 in the previous year[17]. - The basic earnings per share decreased by 24.10% to ¥0.2475 from ¥0.3261 in the same period last year[17]. - The company's operating costs decreased by 41.89% to ¥563,042,887.15, reflecting the reduction in operating revenue[43]. - The company's total operating revenue for the first half of 2018 was CNY 769,000,000, a decrease of 38.72% compared to the same period last year[48]. - The net profit attributable to the parent company is CNY 58,858,116.57, down 24.0% from CNY 77,458,209.55 in the previous period[156]. - The total comprehensive income attributable to the parent company is CNY 57,557,940.72, down 28.7% from CNY 80,772,110.84 in the previous period[156]. Cash Flow and Liquidity - The net cash flow from operating activities improved to -¥192,829,385.51, a 45.74% increase from -¥355,387,497.34 in the same period last year[17]. - The company's cash and cash equivalents decreased by 8.26% to CNY 369,075,981.40, influenced by increased project payments and bank loan repayments[51]. - The company's cash and cash equivalents decreased to RMB 369,075,981.40 from RMB 687,764,967.91, indicating a significant reduction in liquidity[145]. - The net cash flow from operating activities was -191,350,903.39 yuan, compared to -61,011,442.25 yuan in the previous period, indicating a significant decline in operational cash flow[166]. - The total cash and cash equivalents at the end of the period were 308,560,864.25 yuan, down from 661,012,383.46 yuan in the previous period, showing a significant reduction in liquidity[166]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,941,461,205.15, a decrease of 0.74% from ¥3,970,989,471.10 at the end of the previous year[17]. - The company's total assets at the end of the current period were RMB 2,904,924.86 CNY[173]. - Total liabilities decreased to CNY 1,210,998,166.71 from CNY 1,286,480,009.30, reflecting a reduction of approximately 5.9%[152]. - The total amount of restricted assets at the end of the reporting period is 431,721,659.09 CNY, primarily due to collateral for loans[52]. Revenue Breakdown - The revenue from the electric power product business increased by 30.72% to ¥321,316,281.96, accounting for 41.80% of total revenue[45]. - The revenue from the electric power design and general contracting business decreased significantly by 84.37% to ¥106,588,058.27, down from ¥682,022,160.98[45]. - The revenue from the new energy investment and operation business increased by 8.00% to ¥33,130,706.64, compared to ¥30,676,928.35 last year[45]. - The smart city business generated ¥305,730,650.57 in revenue, representing a 4.35% increase from ¥292,981,408.30 in the previous year[45]. Strategic Initiatives and Investments - The company has completed the strategic layout of the entire industrial chain in the power automation business within the smart energy sector[25]. - The company is actively exploring new business growth points in smart city solutions, including energy management and environmental protection[28]. - The company has established a new division focused on big data collection and analysis, enhancing its capabilities in smart city projects[41]. - The company is actively seeking quality new energy investment projects and exploring new models for investment operations through strategic partnerships[38]. - The company has invested in three photovoltaic power stations in Bulgaria since 2010, totaling 10MW, and in a wind power project in Xinjiang, China, with a capacity of 49.5MW[28][30]. Market Position and Competition - The company has successfully entered the first-level supplier list for China National Petroleum Corporation (CNPC) and has become a qualified supplier for CNPC's 2018 centralized procurement of substation protection devices[35]. - The company has won multiple bids for power distribution automation projects in regions such as Fujian, Sichuan, and Shanghai, showcasing its competitive advantage in distribution terminal and automation testing systems[36]. - The company anticipates intensified market competition, particularly in the power product sector, due to the entry of large state-owned design institutes into the new energy design market[75]. Employee and Corporate Governance - The company has implemented an employee stock ownership plan, which was approved in December 2017[90]. - The employee stock ownership plan raised a total of 33 million yuan, with 24 employees participating[91]. - The company has engaged in related party transactions, with a procurement amount of 3.08 million yuan, representing 0.00% of the same type of transactions[92]. Risks and Challenges - The company faces risks related to uncertain technological developments in the smart grid sector, which may impact its product standards and implementation[74]. - The company is managing accounts receivable risks, as a significant portion of its revenue is tied to long payment cycles from major clients[75]. - The company is exposed to risks from national macro policies, including potential reductions in electricity prices for renewable energy, which could affect profitability[76]. - The company is facing risks related to external market demand due to uncertainties in the domestic and international economic environment, which may impact its marketing efforts[78]. Corporate Structure and Compliance - The company has not undergone any bankruptcy reorganization during the reporting period[87]. - The company reported no significant litigation or arbitration matters during the period[88]. - The financial statements are prepared based on the actual transactions and events, in accordance with the accounting standards issued by the Ministry of Finance[185]. - The company believes it has sufficient working capital to continue operations for at least 12 months from the approval date of the financial statements[186].

Financial Performance - The company's operating revenue for Q1 2018 was ¥384,614,049.22, representing a decrease of 29.40% compared to the same period last year[5] - The net profit attributable to shareholders was ¥21,317,664.90, down 37.86% year-over-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥20,224,538.73, a decrease of 36.35% compared to the previous year[5] - The net cash flow from operating activities was -¥160,171,198.74, which is a decline of 29.04% from the same period last year[5] - Basic earnings per share were ¥0.0896, down 38.04% year-over-year[5] - Operating revenue decreased by 29.40% year-on-year, primarily due to the completion of the 198MW wind farm project, resulting in significantly lower revenue recognition[13] - Net profit decreased by 47.83% year-on-year, mainly due to the reduction in operating revenue[13] - The company expects net profit attributable to shareholders for the first half of 2018 to decrease by up to 30% compared to the same period last year, with an estimated range of 54.22 million to 77.46 million yuan[19] Assets and Shareholder Information - Total assets at the end of the reporting period were ¥3,840,566,598.62, a decrease of 3.28% from the end of the previous year[5] - The net assets attributable to shareholders at the end of the reporting period were ¥1,196,403,780.90, an increase of 1.77% compared to the end of the previous year[5] - The total number of common shareholders at the end of the reporting period was 16,545[9] - The largest shareholder, Jiangsu Jinzhi Group Co., Ltd., held 37.15% of the shares, amounting to 88,333,870 shares[9] Cash Flow and Financial Metrics - Cash and cash equivalents decreased by 42.27% compared to the beginning of the year, mainly due to increased payments for the EPC project of the 198MW wind farm and repayment of bank loans[13] - Financial expenses increased by 63.15% year-on-year, mainly due to reduced interest capitalization for the wind farm project[13] - The company reported a 484.45% year-on-year increase in asset impairment losses, primarily due to increased bad debt provisions for accounts receivable[13] Project and Investment Information - The company reported non-recurring gains of ¥1,093,126.17 during the reporting period[7] - The total contract amount for the EPC project of the 198MW wind farm is 1.66 billion yuan, with equipment procurement and technical services amounting to 867 million yuan[16] - As of March 31, 2018, the company received 1.34 billion yuan in payments related to the wind farm project, with cumulative sales revenue recognized at 1.37 billion yuan[16] - Investment income increased by 1,150.74% year-on-year, primarily due to increased returns from bank wealth management products[13] Strategic Outlook and Initiatives - Future outlook and performance guidance for 2018 will be discussed in subsequent communications, highlighting growth strategies and market expansion plans[22] - New product and technology development initiatives are expected to be a focus area for the company in 2018, aiming to enhance competitive advantage[22] - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its operational capabilities[22] - Jiangsu Jinzhitech aims to improve its financial performance through strategic investments and operational efficiencies in the upcoming quarters[22] - The company is committed to maintaining transparency with investors through regular updates and detailed financial disclosures[22] - The management team emphasizes the importance of user data analytics in driving business decisions and enhancing customer engagement[22] - The company plans to leverage technological advancements to optimize its product offerings and service delivery[22] - Jiangsu Jinzhitech is focused on aligning its strategic initiatives with market trends to ensure sustainable growth and profitability[22] Investor Communication - Jiangsu Jinzhitech Co., Ltd. conducted investor communication activities on January 18, February 2, and February 28, 2018, with detailed records available on the Giant Tide Information Network[22] - The company reported its first quarter performance in 2018, with specific financial metrics and user data to be detailed in the full report[22]

Financial Performance - The company's operating revenue for 2017 was CNY 2,305,959,694.01, representing a 23.04% increase compared to CNY 1,874,225,630.94 in 2016[19] - The net profit attributable to shareholders for 2017 was CNY 153,483,386.67, a 40.57% increase from CNY 109,187,510.29 in 2016[19] - The net profit after deducting non-recurring gains and losses was CNY 127,036,773.39, up 57.82% from CNY 80,496,269.76 in 2016[19] - The basic earnings per share for 2017 was CNY 0.6458, a 37.99% increase from CNY 0.4680 in 2016[19] - Total revenue for 2017 reached ¥2,305,959,694.01, representing a year-on-year increase of 23.04% compared to ¥1,874,225,630.94 in 2016[55] - The electric power design and general contracting business saw significant growth, with revenue increasing by 76.83% to ¥935,871,703.05 from ¥529,258,687.10 in 2016[55] - The smart city business generated revenue of ¥632,993,534.39, reflecting a year-on-year increase of 3.95%[55] - The company reported a total of ¥193,378,000 in new orders for 2017, a decrease of 37.73% compared to ¥310,532,000 in 2016[61] - The electric power product business experienced a 44.37% increase in orders, totaling ¥91,259,000, driven by growth in smart transmission and distribution products[61] - The gross margin for the electric power design and general contracting business was 16.43%, with a year-on-year increase of 2.31%[59] Cash Flow and Investments - The cash flow from operating activities for 2017 was negative at CNY -77,678,491.41, a significant decrease of 132.16% compared to CNY 241,558,759.95 in 2016[19] - The company reported a net cash flow from operating activities of CNY 386.41 million in the fourth quarter, following negative cash flows in the first three quarters[23] - Net cash flow from investing activities improved by 118.18% to ¥89,131,189.14, as previous year’s significant investments were not repeated in the current year[78] - Net cash flow from financing activities decreased by 133.92% to -¥225,400,452.33, mainly due to the absence of a non-public bond issuance of ¥500 million that occurred in the previous year[78] - The company reported a total investment of ¥357,494,697.68 during the reporting period, a decrease of 44.43% compared to the previous year's investment of ¥643,323,204.23[86] Business Expansion and Strategy - The company plans to continue expanding its business in smart energy and smart city sectors, focusing on urban safety, intelligent transportation, and smart buildings[17] - The company has invested in three photovoltaic power stations in Bulgaria, totaling 10MW, and a wind power project in Xinjiang with a capacity of 49.5MW[17] - The company has completed the strategic layout of the entire industrial chain for its power automation business[17] - The company has actively sought quality project opportunities in the new energy investment and operation business, exploring a new business model of "integration of production and finance"[42] - The company has expanded its international market presence, securing contracts in countries such as Pakistan, Turkey, India, Bangladesh, and Sri Lanka under the "Green Belt and Road" initiative[43] - The company is focusing on the development of distributed energy and energy-saving projects, aligning with national policies that encourage renewable energy utilization[108] Research and Development - The company has established two major R&D centers and a post-doctoral workstation, enhancing its research capabilities and fostering partnerships with top universities[36] - The company holds over 100 patents and software copyrights, reflecting its commitment to technological innovation and continuous improvement[36] - The company invested significantly in R&D, achieving notable results in smart energy and smart city sectors, including the development of new generation intelligent measurement and control devices[73] - R&D investment increased by 15.41% to ¥156,851,868.44 in 2017, while the proportion of R&D investment to operating revenue decreased from 7.25% to 6.80%[75] Market and Competitive Position - The company has achieved a leading position in the domestic market for factory-prefabricated modular substations, which are favored by investors for their reduced land use and construction time[107] - The market for smart grid-related products is becoming increasingly competitive, with higher entry barriers due to technology, price, quality, and service[105] - The company anticipates challenges from increased competition in the power product and smart city sectors, particularly from state-owned design institutes and internet companies[121] Dividend and Shareholder Relations - The company distributed a cash dividend of 1.50 CNY per 10 shares, totaling 35,670,435.60 CNY (including tax) based on a total share capital of 237,802,904 shares as of May 24, 2017[127] - The cash dividend payout ratio for 2017 was 23.24% of the net profit attributable to shareholders, which was 153,483,386.67 CNY[132] - The company maintained a stable dividend policy, with the same cash dividend of 1.50 CNY per 10 shares for the years 2015, 2016, and 2017[130] - The company has been transparent in its dividend distribution process, ensuring compliance with regulations and providing opportunities for minority shareholders to express their opinions[128] Corporate Governance and Compliance - The company has established a comprehensive governance structure to protect the rights of shareholders and creditors, ensuring compliance with relevant laws and regulations[179] - The company is committed to enhancing its internal control systems to safeguard the interests of all stakeholders[179] - The company has maintained a strong commitment to ethical business practices, fostering trust with suppliers, customers, and consumers[179] - The company was rated as an AAA credit enterprise by the People's Bank of China and recognized as a trustworthy enterprise in Jiangsu Province, highlighting its commitment to creditor rights protection[181] Risks and Challenges - The company faces risks related to technological development uncertainties and the need to keep pace with market demands in its R&D efforts[120] - The company is addressing potential impacts from national macro policies, including adjustments to electricity prices and renewable energy subsidies[122] - The company is actively managing its funding needs through self-funding, bank loans, and financing leases to support its operations and acquisitions[119]

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。 公司负责人徐兵、主管会计工作负责人张浩及会计机构负责人(会计主管人员)顾红敏声明：保证季度 报告中财务报表的真实、准确、完整。 第二节 公司基本情况 证券代码：002090 证券简称：金智科技 公告编号：2017-055 一、主要会计数据和财务指标 江苏金智科技股份有限公司 2017 年第三季度报告正文 第一节 重要提示 江苏金智科技股份有限公司 2017 年第三季度报告正文 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 4,043,524,760.01 | 3,818,180,612.91 | | 5.90% | | 归属于上市公司股东的净资产（元） | 1,133,032,397.47 | 1,188,142,281.82 | | -4.64% ...