Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,371,189,611.20, representing a decrease of 17.88% compared to the same period last year[29]. - The net profit attributable to shareholders of the listed company was -¥156,142,689.83, a decline of 1,756.57% year-on-year[29]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥124,310,393.04, a decrease of 437.90% compared to the previous year[29]. - The net cash flow from operating activities was ¥115,812,487.38, down 30.22% from the same period last year[29]. - The basic and diluted earnings per share were both -¥0.1109, a decline of 1,755.22% year-on-year[29]. - The total assets at the end of the reporting period were ¥8,945,997,889.24, a decrease of 3.59% from the end of the previous year[29]. - The net assets attributable to shareholders of the listed company were ¥1,276,272,119.58, down 10.89% compared to the end of the previous year[29]. - The company reported a sales revenue of 137,118.96 million CNY for the first half of 2021, a decrease of 17.88% year-on-year[52]. - The net profit attributable to shareholders was -15,614.27 million CNY, reflecting a decline of 1,756.57% compared to the previous year[52]. - The revenue from the smart grid segment was CNY 1,045,497,913.77, accounting for 76.25% of total revenue, with a year-on-year decrease of 15.44%[73]. - The revenue from energy storage business was CNY 139,654,032.52, representing 10.18% of total revenue, down 19.31% year-on-year[73]. - The revenue from comprehensive energy management and services decreased by 27.19% to CNY 161,261,209.37, accounting for 11.76% of total revenue[73]. - Domestic revenue was CNY 1,077,778,222.08, which is 78.60% of total revenue, reflecting a year-on-year decline of 26.50%[73]. - The gross profit margin for the main business was 29.49%, a decrease of 2.30% compared to the previous year[73]. Business Operations and Strategy - The company is a leading comprehensive service provider in the energy sector, focusing on smart grids, new energy, and integrated energy services[40]. - The smart grid business is the core of the company, providing products and solutions for state grid and southern grid construction, including high-precision measurement instruments and smart meters[40]. - The new energy business is being actively expanded, with a focus on energy storage and electric vehicle charging operations, covering six major application scenarios[41]. - The company has developed a comprehensive energy service model that integrates electricity, cooling, heating, and gas, leveraging modern technology and internet solutions[42]. - The national strategy for carbon peak and carbon neutrality is driving the growth of the smart grid and energy storage sectors, with significant investments expected in the coming years[45]. - The State Grid plans to invest over $70 billion annually, with a total of over $350 billion in the next five years for smart grid upgrades[46]. - The company is leveraging digitalization to support the new power system construction and achieve carbon neutrality goals[46]. - The energy storage industry is entering a rapid growth phase, driven by advancements in lithium-ion battery technology and significant cost reductions[46]. - The company aims to enhance its profitability and management level by focusing on the smart grid and new energy sectors, particularly in energy storage and charging pile industries[52]. Investments and Projects - The company has successfully delivered the first phase of a 14MW/46.3MWh energy storage project in Indiana, USA, and secured a second phase project of 24MW/63MWh, solidifying its market position in the US[56]. - The company’s charging operation platform has connected a total of 16,400 charging piles, ranking 9th among all operators in China, with a total of 920 charging stations, ranking 10th[57]. - The company achieved a cumulative charging volume of 50,945 MWh in 2020, ranking 3rd among all operators in annual charging volume in China[57]. - The company has expanded its overseas energy storage business, with grid-level energy storage projects in the US exceeding 150MWh, indicating rapid market share growth[56]. - The company has developed new energy control devices and charging pile detection devices, aligning with national carbon neutrality goals[53]. - The cumulative installed capacity of new power storage reached 3.28 GW by the end of 2020, with a target of 30 GW by 2025, indicating a projected annual compound growth rate of over 55%[1]. - The sales volume of new energy vehicles in China exceeded 1 million units in the first half of 2021, marking a year-on-year growth of 220.9%[1]. - The company won bids totaling 26,039.06 million CNY in the State Grid's 2021 procurement activities[53]. - The global energy storage market is expected to reach an installed capacity of 1,676 GW/5,827 GWh by 2050, with an estimated investment of 964 billion USD over the next 30 years[1]. Financial Management and Risks - The company faces risks related to changes in industrial policies that could impact its business development in the smart grid and new energy sectors[96]. - The company has a high asset-liability ratio, which may lead to liquidity risks if business expansion does not meet expectations[98]. - The company is actively working to optimize its capital structure and strengthen cooperation with banks to mitigate financing risks[98]. - The ongoing global pandemic may temporarily affect the company's product export sales and increase raw material prices[98]. - The company has received multiple certifications for its energy storage systems, including UL9540A certification for its lithium iron phosphate storage system, enhancing its competitive edge in the market[60]. - The company’s R&D investment increased by 9.88% to approximately ¥98 million, driven by rising employee compensation and material costs[65]. Corporate Governance and Shareholder Matters - The company plans not to distribute cash dividends or issue bonus shares[7]. - The company did not implement any employee stock ownership plans or other incentive measures during the reporting period[107]. - The board of directors and senior management saw significant changes on June 4, 2021, with multiple new appointments[103]. - The company has ongoing commitments to ensure no illegal transfer of funds or profits through related party transactions[116]. - The company is in the process of fulfilling its dividend commitment for the specified period[121]. - The company plans to distribute cash dividends, with a minimum of 10% of the distributable profits allocated annually, and a cumulative distribution of at least 30% of the average annual distributable profits over the last three years[122]. - The company holds 341,685,208 shares, representing 24.26% of the total shares, and has committed to waive voting rights associated with these shares[122]. - The company has a total of 341,685,208 shares frozen and 340,573,474 shares pledged by shareholder Rao Luhua[199]. - The company has a total of 24,003,160 shares held by shareholder Chen Changbao, which are frozen[199]. - The company completed a board restructuring on June 4, 2021, resulting in lock-up restrictions for several executives' shares[198]. Legal Matters and Disputes - The company is involved in a lawsuit with Shenzhen Fusi Erkang Investment Partnership, with a disputed amount of RMB 12,025,000, where the second-instance ruling dismissed the plaintiff's claims[130]. - The company is seeking RMB 22,320,000 in principal and RMB 1,121,200 in delayed payment interest from Shanxi Huadaoyourun Energy Technology Co., Ltd. in an ongoing contract dispute[130]. - The company has counterclaimed against City Power Holding Group for RMB 11,139,300 in contract payments and RMB 2,000,000 in damages[134]. - The company has initiated enforcement actions against Bai Nian Jinhai Technology Co., Ltd. for a loan repayment of RMB 40,075,400 plus interest[134]. - The company is involved in a legal dispute with Huaxia Life Insurance Co., Ltd. regarding a share transfer dispute amounting to RMB 73,042,000[134]. - The total amount involved in ongoing litigation is approximately 92.5047 million yuan, with no expected liabilities formed[143]. - The company reported no significant impact from ongoing litigation, as some cases have been dismissed or settled during the reporting period[143].

Financial Performance - In 2020, the company achieved a revenue growth of 4.44% and a net profit growth of 107.8% year-on-year[5]. - The company's operating revenue for 2020 was ¥3,337,288,927.25, an increase of 4.44% compared to ¥3,195,325,075.74 in 2019[30]. - The net profit attributable to shareholders in 2020 was ¥185,333,990.77, a significant recovery from a loss of ¥2,375,936,436.52 in 2019, representing a 107.80% increase[30]. - The net cash flow from operating activities reached ¥508,112,619.63, marking an impressive increase of 821.54% from ¥55,137,462.44 in the previous year[30]. - The basic earnings per share for 2020 was ¥0.1316, a turnaround from a loss of ¥1.6871 per share in 2019, reflecting a 107.80% improvement[30]. - The company reported a weighted average return on equity of 14.06% in 2020, a significant recovery from -98.67% in 2019[30]. - The company achieved a total operating revenue of approximately CNY 3.34 billion in 2020, representing a year-on-year increase of 4.44%[71]. - The energy storage business saw significant growth, with revenue increasing by 339.72% year-on-year to approximately CNY 384 million, accounting for 11.50% of total revenue[72]. - The company reported a significant decline in other business revenue, down 59.41% year-on-year, with a gross profit margin of 53.17%[76]. Investment and R&D - The company plans to invest more in technology research and talent resources to accelerate R&D capabilities[8]. - The company has applied for 1,590 patents and obtained 1,065 patents as of December 31, 2020, demonstrating a strong commitment to intellectual property protection[52]. - The company is investing in research and development, as evidenced by the significant number of patents filed in 2020, indicating a commitment to innovation[101]. - The company has filed for patents related to smart meters and energy management systems, indicating a strategic focus on smart energy solutions[104]. - The company has invested CNY 200 million in R&D for new technologies, representing 13% of total revenue for the year[115]. - The company is actively developing new products, including a multifunctional smart meter management terminal and a dual-channel MOS driver chip, both expected to launch in 2021[115]. Market Expansion and Strategy - In 2021, the company aims to enhance its core capabilities and expand into new markets while improving internal management efficiency[6]. - The company is focusing on expanding its renewable energy business, particularly in energy storage and electric vehicle charging solutions[45]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2022[115]. - The company is exploring strategic acquisitions to enhance its product portfolio and market presence, with a focus on complementary technologies[109]. - The company is focusing on comprehensive energy services, energy efficiency management, and energy substitution, providing integrated solutions to meet customer needs[193]. Governance and Risk Management - The company has established a more sustainable governance structure to enhance organizational and profitability capabilities[5]. - The company emphasizes the importance of risk awareness and cost management in its operations[8]. - Management risks arise from the complexity of governance due to multiple subsidiaries, necessitating improvements in decision-making and risk control[194]. - There is a risk of technology leakage and loss of core technical personnel, which the company aims to mitigate through strict confidentiality agreements and incentive programs[197]. - High asset-liability ratio poses liquidity risks, especially if business expansion does not meet expectations[198]. Sustainability and Environmental Goals - The company is committed to contributing to the "carbon peak" and "carbon neutrality" goals, focusing on energy transformation opportunities[9]. - The company aims to achieve carbon neutrality in its operations by 2025, aligning with global sustainability trends[115]. - The "30·60" dual carbon target presents new opportunities for the energy storage sector, aligning with national policies aimed at carbon peak and neutrality[174]. Product Development and Innovation - The company has developed a comprehensive energy service model that integrates electricity, cooling, heating, and gas, catering to diverse energy needs[46]. - The company has launched the first 3MW energy storage inverter (PCS) certified by a recognized authority, showcasing its technological leadership in the energy storage field[52]. - The company has introduced a new method for battery module automatic leveling, showcasing its commitment to innovation[122]. - The company is enhancing its product offerings with features such as fire safety in battery cabinets and gas alarm systems[122]. Financial Management - The company will not distribute cash dividends or issue bonus shares for the year[14]. - The company has implemented effective cost control measures to enhance operational efficiency[98]. - The company’s R&D investment decreased by 26.79% year-on-year to approximately CNY 221 million, reflecting a focus on cost management[71]. - The company’s sales expenses decreased by 20.45% year-on-year to approximately CNY 323 million, attributed to refined operational management[71].

Financial Performance - The company's operating revenue for Q1 2021 was ¥660,183,835.63, a decrease of 24.00% compared to the same period last year[8]. - The net profit attributable to shareholders was -¥39,593,519.24, representing a decline of 389.17% year-on-year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥45,599,609.74, a decrease of 3,011.87% compared to the previous year[8]. - The basic earnings per share for the period was -¥0.0281, a decline of 389.69% year-on-year[8]. - The diluted earnings per share for the period was also -¥0.0281, reflecting the same percentage decline as basic earnings[8]. - The company reported a net loss of CNY -49,603,691.03 for the current period, compared to a profit of CNY 16,956,212.09 in the previous period[74]. - The company reported a net loss of ¥50,930,656.01 for the current period, compared to a net profit of ¥34,969,011.56 in the previous period, indicating a significant decline in profitability[81]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 90.86% to ¥81,063,730.88 compared to the same period last year[8]. - Cash inflows from operating activities totaled ¥689,349,894.03, down from ¥773,351,483.54 in the previous period, indicating a decrease in cash generation[85]. - The cash inflow from operating activities totaled 429,873,328.80, down from 621,186,018.31 in the previous period, indicating a decline in revenue generation[92]. - The cash and cash equivalents at the end of the period stood at 337,863,046.33, down from 510,782,485.43 in the previous period, indicating a reduction in liquidity[91]. - The company paid 41,386,979.61 in dividends and interest, a significant decrease from 83,161,709.51 in the previous period, reflecting a shift in cash distribution strategy[91]. Assets and Liabilities - The total assets at the end of the reporting period were ¥8,880,830,537.30, down 4.29% from the end of the previous year[8]. - The company's current assets totaled CNY 4,182,537,841.39, down from CNY 4,456,425,374.70, indicating a decrease of about 6.1%[56]. - Total liabilities decreased to CNY 7,288,239,724.34 from CNY 7,640,503,357.45, reflecting a decrease of about 4.6%[56]. - The company's total equity as of March 31, 2021, was CNY 1,592,590,812.96, down from CNY 1,638,675,752.10, indicating a decline of approximately 2.8%[56]. - The company's equity totaled CNY 1,638,675,752.10, with a capital reserve of CNY 1,931,667,614.81 and an undistributed profit of CNY -2,044,622,646.67[103]. Investments and Contracts - The company won a bid for the design, supply, installation, and commissioning of the Barhabise 220kV substation project in Nepal, with a total contract value of approximately RMB 80 million[22]. - The company also secured a contract for the procurement of prepaid electric meters in Kenya, with a total value of approximately USD 15.15 million[23]. - The company won a bid for the "10kV full insulation circuit breaker cabinet automation equipment" project with a total bid amount of approximately RMB 186.78 million, with a signed contract amount of RMB 160 million[29]. - The company was selected as a candidate for the "2019 second batch of electric meters" project with an expected bid amount of approximately RMB 127.39 million[30]. - The company was selected as a candidate for the "2020 first batch of electric meters" project with an expected bid amount of approximately RMB 115.21 million[31]. Operational Efficiency - The company experienced a significant increase in held-for-sale assets, rising by 1000.52% to RMB 276.09 million due to the signing of a share transfer agreement[18]. - The company reported a significant credit impairment loss of ¥36,948,476.19, compared to a loss of ¥2,547,560.33 in the previous period, highlighting increased credit risk[81]. - The company recorded a net cash flow from investing activities of -112,809,025.31, compared to -11,532,662.07 in the previous period, indicating increased capital expenditures[95]. Government Support and Subsidies - The company received government subsidies amounting to ¥11,941,584.96 during the reporting period[8]. Compliance and Governance - The company has not yet audited its first-quarter report for 2021, which may affect investor confidence[112]. - There were no significant securities or derivative investments reported during the period[44][45]. - The company reported no violations regarding external guarantees during the reporting period[49]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[50].

证券代码：002121 证券简称：*ST 科陆 公告编号：2020113 深圳市科陆电子科技股份有限公司 关于参加 2020 深圳辖区上市公司投资者网上集体接待日 活动的公告 本公司及董事会全体成员保证公告内容的真实、准确、完整，不存在虚假记 载、误导性陈述或者重大遗漏。 为进一步加强与投资者的互动交流工作，深圳市科陆电子科技股份有限公司 （以下简称"公司"）将参加由深圳上市公司协会、深圳市全景网络有限公司共 同举办的"诚实守信，做受尊重的上市公司"——2020深圳辖区上市公司投资者 网上集体接待日活动，现将有关事项公告如下： 本次集体接待日活动将在深圳市全景网络有限公司提供的网上平台，采取网 络远程的方式举行，投资者可以登录"全景•路演天下"网站（http://rs.p5w.net/） 或关注微信公众号（全景财经）参与公司本次投资者集体接待日活动，活动时间 为2020年12月8日9:00至17:00。 届时公司董事、董事会秘书黄幼平女士和财务总监熊晓建先生将通过网络文 字交流形式与投资者进行沟通。欢迎广大投资者积极参与。 特此公告。 深圳市科陆电子科技股份有限公司 董事会 二〇二〇年十二月三日 ...

Financial Performance - Operating revenue for the reporting period was approximately ¥700 million, down 15.11% compared to the same period last year[8]. - Net profit attributable to shareholders of the listed company was approximately ¥354 million, an increase of 403.10% year-on-year[8]. - Basic earnings per share for the reporting period were ¥0.2516, an increase of 403.13% year-on-year[8]. - The company's total operating revenue for the current period is 421,594,873.21 CNY, down from 522,113,308.40 CNY in the previous period, reflecting a decrease of approximately 19.2%[92]. - The total operating costs for the current period are 2,438,973,093.90 CNY, down from 2,612,598,044.41 CNY in the previous period, indicating a reduction of approximately 6.6%[96]. - The company achieved a significant operating profit of 454,120,618.52, compared to an operating loss of 149,063,781.45 in the previous period[99]. - The net profit for the quarter reached CNY 408,497,310.23, compared to a loss of CNY 120,373,103.14 in the previous year[86]. - The company reported an estimated impact of approximately RMB 456 million on net profit for 2020, pending final audit results[48]. Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥9.48 billion, a decrease of 6.25% compared to the end of the previous year[8]. - Total current assets decreased to CNY 4,841,345,520.13 from CNY 5,642,629,018.54, a decline of approximately 14.2%[65]. - Total liabilities decreased to CNY 7,664,344,709.08 from CNY 9,039,386,517.31, a reduction of about 15.2%[71]. - The company's total equity increased to CNY 1,818,031,187.20 from CNY 1,074,838,914.68, representing an increase of approximately 68.9%[74]. - The company reported a negative retained earnings of CNY -2,229,956,637.44[129]. - Total current liabilities decreased to CNY 5,923,095,515.51 from CNY 7,280,478,588.23, a decrease of approximately 18.6%[71]. Cash Flow - The net cash flow from operating activities was approximately ¥80 million, an increase of 173.04% compared to the same period last year[8]. - The total cash inflow from operating activities was CNY 2,416,536,042.67, a decrease of 11.7% compared to CNY 2,737,936,995.86 in the previous period[109]. - The net cash flow from investment activities improved to CNY 641,358,286.48, compared to CNY 435,727,553.52 in the previous year[112]. - The total cash and cash equivalents at the end of the period were CNY 564,651,156.26, an increase from CNY 367,856,327.02 in the previous year[112]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 48,825[12]. - The top ten shareholders held a combined 24.26% of the shares, with Shenzhen Capital Operation Group Co., Ltd. and the company's chairman, Rao Luhua, each holding 24.26%[12]. - Shareholder Rao Luhua's 341,685,208 shares, representing 24.26% of total shares, have been judicially frozen since June 30, 2020, due to debt default[42]. Investments and Projects - The company won a bid for a project with Nepal Electricity Authority worth approximately RMB 80 million, with most design work completed by the reporting period[28]. - The company was awarded a contract for the Shenzhen Bus Group's taxi charging pile construction project, with a total bid amount of approximately RMB 159.5 million, and has fulfilled the contract as of the reporting period[29]. - The company secured a project with State Grid Hunan for a battery storage station, with a total contract amount of RMB 45.15 million, of which RMB 40.63 million has been delivered[30]. - The company won multiple bids for smart energy meters and related equipment from State Grid, with a total expected bid amount of approximately RMB 185.59 million[30]. Legal and Compliance Issues - The company's stock has been under "delisting risk warning" since April 30, 2020, due to consecutive net losses in 2018 and 2019[41]. - Rao Luhua is facing a lawsuit from Wanxiang Trust for approximately RMB 1.31 billion related to share pledges[43]. - An additional 35,509,816 shares, accounting for 2.52% of total shares, were subject to provisional freezing starting August 10, 2020, due to further debt issues[44]. Research and Development - Research and development expenses for the quarter were CNY 53,303,710.77, down from CNY 59,306,551.75, indicating a decrease of 10.0%[86]. - Research and development expenses decreased to 55,393,920.30 from 85,812,481.62, showing a reduction of approximately 35.4%[104].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥1,669,794,163.29, representing a 10.13% increase compared to ¥1,516,261,624.45 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was ¥9,425,652.77, a significant turnaround from a loss of ¥77,529,834.66 in the previous year, marking a 112.16% improvement[16]. - The net cash flow from operating activities was ¥165,973,960.26, up 11.22% from ¥149,234,488.95 in the same period last year[16]. - Operating profit reached CNY 19.24 million, up 157.67% compared to the same period last year[34]. - The company reported a net profit of 32,761,973.6 CNY for the first half of 2020, representing a significant increase compared to previous periods[78]. - The company reported a net profit of 20,167,336.22 CNY for the first half of 2020, a significant recovery from a net loss of 71,128,848.71 in the same period of 2019[196]. - The company reported a profit margin of approximately 1.21% in the first half of 2020, compared to a negative margin in the previous year[196]. Assets and Liabilities - The total assets at the end of the reporting period were ¥9,539,952,415.68, a decrease of 5.68% from ¥10,114,225,431.99 at the end of the previous year[16]. - The total liabilities decreased from CNY 9,039,386,517.31 to CNY 8,077,980,203.48, a decline of around 10.64%[188]. - The company’s cash and cash equivalents decreased from RMB 1.5 billion at the end of 2019 to approximately RMB 1.03 billion by June 30, 2020[186]. - Accounts receivable increased to approximately RMB 1.84 billion, up from RMB 1.66 billion at the end of 2019[186]. - Total equity increased from CNY 1,074,838,914.68 to CNY 1,461,972,212.20, an increase of about 36.00%[189]. Investment and R&D - Research and development investment totaled CNY 89.23 million, a decrease of 30.11% compared to the previous year[44]. - The company has applied for 55 patents and obtained 21 patents during the reporting period, with a total of 1,459 applications and 985 patents granted as of June 30, 2020[29]. - The company is actively involved in the research and development of new technologies, including high-precision measurement instruments and energy storage systems[28]. Business Operations - The company is a leading comprehensive energy service provider in China, focusing on smart grid, new energy, and integrated energy services[24]. - The smart grid segment is the core business, providing products and solutions for state grid and southern grid construction, including smart meters and distribution network equipment[24]. - The new energy business is expanding, focusing on energy storage and electric vehicle charging solutions, with various applications including peak shaving and valley filling[25]. - The company achieved total operating revenue of CNY 1,669.79 million, a year-on-year increase of 10.13%[34]. - The energy storage business saw a significant revenue increase of ¥173,081,393.51, up 91.05% year-on-year, primarily due to the delivery of energy storage products and the operation of AGC energy storage frequency modulation systems[48]. Shareholder and Equity Information - The actual controller, Mr. Rao Luhua, holds 341,685,208 shares, accounting for 24.26% of the total shares, with 99.67% of his shares pledged[103]. - The company’s total share capital is 1,408,349,147 shares[132]. - The company’s controlling shareholder is facing potential share disposals due to a margin call, involving up to 50,180,000 shares, or 3.56% of total shares[132]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[149]. Legal and Compliance Issues - There is a significant litigation case involving a contract dispute with a claim amount of 45.404 million yuan, which has been resolved through a mediation agreement[95]. - The company has no significant ongoing litigation that would materially affect its operations, with a total of 13,786.79 million yuan involved in various lawsuits[106]. - The company has not engaged in any major related party transactions during the reporting period[105]. Future Plans and Strategies - The company plans to continue expanding its energy storage and smart grid services, leveraging recent technological advancements and market demand[48]. - The company plans to focus on market expansion and new product development in the upcoming quarters[194]. - The company aims to extend its services upstream and downstream in the energy value chain, enhancing its competitive advantage in the market[30]. Financial Management and Debt - The company has a total of RMB 4,000 million in frozen bank accounts pending the resolution of the settlement with Ningde Times[97]. - The company is required to assist in the acceptance procedures for the waste heat power generation project as part of the settlement agreement[96]. - The company has significant contracts in place, but specific details were not disclosed in the report[123].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,669,794,163.29, representing a 10.13% increase compared to CNY 1,516,261,624.45 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was CNY 9,425,652.77, a significant improvement of 112.16% compared to a loss of CNY 77,529,834.66 in the previous year[23]. - The net cash flow from operating activities increased by 11.22% to CNY 165,973,960.26 from CNY 149,234,488.95 in the previous year[23]. - The total assets at the end of the reporting period were CNY 9,539,952,415.68, a decrease of 5.68% from CNY 10,114,225,431.99 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company increased by 2.87% to CNY 1,256,593,112.78 from CNY 1,221,484,368.52 at the end of the previous year[23]. - The basic and diluted earnings per share were both CNY 0.0067, reflecting a recovery from a loss of CNY 0.0551 per share in the previous year, marking a 112.16% improvement[23]. - The company faced a net loss of CNY 414,431,772.96 after deducting non-recurring gains and losses, which is a 33.43% increase in loss compared to CNY 310,597,230.06 in the previous year[23]. - The company reported a total non-recurring profit and loss of approximately 423.86 million CNY for the reporting period[29]. - Operating profit reached CNY 19.24 million, up 157.67% compared to the previous year[48]. - The company secured contracts worth approximately CNY 150 million in the overseas energy storage market during the reporting period[49]. Business Segments - The company is a leading comprehensive energy service provider in China, focusing on smart grid, new energy, and integrated energy services[34]. - The smart grid segment is the core business, providing products and solutions for state grid and southern grid construction, including smart meters and distribution network equipment[34]. - The new energy business is expanding, focusing on energy storage and electric vehicle charging solutions, with various applications including peak shaving and valley filling[35]. - The company has developed a comprehensive charging operation platform for electric vehicles, offering integrated management services for various stakeholders[35]. - The energy storage business saw a significant revenue increase of ¥173,081,393.51, up 91.05% year-on-year, primarily due to the delivery of storage products and the operation of AGC energy storage frequency modulation systems[64]. Research and Development - The company has a strong R&D capability, having applied for 55 patents and obtained 21 during the reporting period, with a total of 1,459 applications and 985 granted patents as of June 30, 2020[41]. - The company is actively developing new products, including a new standard energy meter and various detection devices[51]. - The company is actively involved in the development of new technologies, including high energy density battery systems and advanced cooling technologies, enhancing energy storage capabilities[42]. Investments and Projects - The company is increasing its investment in construction projects, such as the Guangming Smart Energy Industrial Park and Shunde Wusha factory, contributing to its growth strategy[39]. - The total investment amount for the reporting period was ¥123,362,409.22, representing a significant increase of 829.47% compared to ¥13,272,270.38 in the same period last year[75]. - The company is currently investing in the Smart Energy Industrial Park project, with a total actual investment of ¥895,681,522.46[78]. Financial Management - The company plans to issue bonds not exceeding RMB 10 billion, with a maturity of up to 5 years, as approved by the board and shareholders[193]. - The company issued bonds worth RMB 5 billion in July 2019, and another RMB 5 billion in June 2020, both aimed at qualified investors[193]. - The company’s financial assets are primarily sourced from self-owned funds, reflecting a conservative investment strategy[83]. - The company has no securities or derivative investments during the reporting period[84][85]. Compliance and Governance - The company has taken measures to ensure compliance with regulations regarding related party transactions[91]. - The company is actively working on reducing and regulating related party transactions to avoid unnecessary conflicts[117]. - The company has ongoing commitments to avoid direct competition with its own subsidiaries in product development and business operations[117]. - The actual controller and shareholders have committed to maintaining independence and not interfering with the company's operational decisions[114]. Legal and Regulatory Matters - The company has reached a mediation agreement in a lawsuit involving a claim amount of 45.404 million yuan, which is currently being executed[126]. - The company has a pending arbitration case with a total claim of 1 billion yuan, with the first instance judgment requiring payment of principal and interest[137]. - The company reported a total litigation amount of 137.87 million yuan, with no significant impact on operations[141]. Market Conditions - The global economic outlook for 2020 has been downgraded by institutions like the IMF and World Bank, leading to increased pessimism in the market[110]. - The company plans to focus on global pandemic developments and enhance communication with customers and suppliers to mitigate adverse impacts on operations[110].

Financial Performance - The company reported a negative net profit for both 2018 and 2019, leading to a risk warning for delisting after the 2019 annual report disclosure[14]. - The company's operating revenue for 2019 was CNY 3,195,325,075.74, representing a decrease of 15.72% compared to the previous year[32]. - The net loss attributable to shareholders for 2019 was CNY -2,375,936,436.52, a decline of 94.78% year-over-year[32]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -1,781,119,373.35, down 43.48% from the previous year[32]. - Basic earnings per share for 2019 were CNY -1.6871, a decrease of 94.75% compared to the previous year[32]. - The company reported a significant decline in the weighted average return on equity, dropping to -98.67% in 2019 from -29.63% in 2018[32]. - The company's net cash flow from operating activities decreased by 86.18% to CNY 55,137,462.44[32]. - The company did not declare cash dividends or bonus shares for 2019, indicating a focus on reinvestment[15]. Business Strategy and Focus - In 2019, the company focused on its core business of smart grid and renewable energy, selling multiple photovoltaic power station assets and divesting from unprofitable subsidiaries, which had a negative impact on performance but is expected to benefit long-term growth[5]. - The company plans to strengthen its core business in smart grids, energy storage, and charging piles, emphasizing product quality and service optimization[8]. - The company aims to improve risk management and ensure sustainable development by enhancing institutional frameworks and controlling major project risks[8]. - The company is committed to high-quality development and aims to address challenges head-on, maintaining a focus on green energy solutions[9]. - The company is focusing on expanding its new energy business, particularly in energy storage and electric vehicle charging solutions[46]. - The company has established a comprehensive energy service model that integrates electricity, cooling, heating, and gas to meet diverse customer energy needs[47]. Organizational Changes - In 2019, the company underwent organizational restructuring to enhance customer focus and improve operational efficiency, establishing a new international subsidiary to expand overseas business[5]. - The company has implemented a new governance structure with a clear separation of roles between the chairman and the president to enhance management efficiency[5]. - The company has established a subsidiary, Kelu International, to prioritize overseas business development as a key growth direction[63]. - The company has implemented organizational optimization and performance management systems to enhance operational efficiency and employee motivation[63]. Research and Development - The company applied for 94 patents and obtained 104 patents in 2019, with a total of 1,403 patent applications and 964 patents granted as of December 31, 2019[54]. - The company is actively developing new products such as a portable non-vehicle charging detection device and a smart circuit breaker switch[105]. - The company aims to enhance its competitive edge by focusing on R&D in energy management systems and battery health assessment methods[110]. - R&D investment amounted to ¥304,133,035.25 in 2019, a decrease of 16.56% compared to ¥364,480,744.38 in 2018[123]. - The company has a focus on automation and efficiency with new devices for meter calibration and testing[116]. Market Opportunities - The company anticipates significant market opportunities in the charging pile industry and energy distribution business due to new infrastructure initiatives and reforms in the electricity system[9]. - The company has successfully entered the North American energy storage market, meeting UL1971/UL9540 safety certification requirements[59]. - The company has expanded its charging cloud platform to cover 25 provinces and 128 cities in China, with a platform revenue of nearly ¥350 million in 2019[62]. - The company is exploring potential mergers and acquisitions to bolster its technology portfolio and market reach[110]. Asset Management - Significant asset changes include a reduction in equity assets due to the transfer of a 58.07% stake in Shanghai Karnai and a decrease in fixed assets from the impairment of photovoltaic power stations[50]. - The company has disposed of several non-core assets, including photovoltaic power station assets, to enhance liquidity and focus on core business operations[65]. - The company reported a total of approximately RMB 2.14 billion in contracts with Nengxi Technology, which has since been terminated[82]. Future Outlook - Future outlook includes expanding market presence through innovative energy storage solutions and charging infrastructure[110]. - The company is focusing on the integration of energy storage with renewable energy sources, with a requirement for 10% energy storage capacity for wind and solar projects to ensure grid connection[196]. - The company anticipates a rapid development phase for energy storage during the 14th Five-Year Plan, with a predicted scale of electrochemical energy storage reaching nearly 20GW by 2023[196]. - The competitive landscape in the smart grid sector is evolving, with a push towards building a leading energy internet enterprise by 2025[190].

Financial Performance - The company's operating revenue for the first quarter of 2020 was CNY 868,651,215.85, representing a 9.77% increase compared to CNY 791,335,602.65 in the same period last year[9]. - The net profit attributable to shareholders of the listed company was CNY 13,692,026.20, a significant turnaround from a loss of CNY 110,425,676.48 in the previous year, marking a 112.40% improvement[9]. - Basic and diluted earnings per share were both CNY 0.0097, compared to a loss of CNY 0.0784 in the same period last year, reflecting a 112.37% increase[9]. - The company achieved a gross profit margin of approximately 28.8% in Q1 2020, compared to 29.0% in Q1 2019, indicating stable profitability despite increased costs[21]. - Operating profit improved significantly to ¥17,668,643.12, compared to a loss of ¥105,375,485.87 in the same period last year[74]. - Net profit for the period was ¥16,956,212.09, recovering from a loss of ¥110,194,492.19 in the previous year[74]. - The company reported a net profit of ¥15,790,793.54 for the current period, compared to a net loss of ¥111,275,688.23 in the previous period[76]. - Total comprehensive income for the current period was ¥17,320,040.05, while the previous period showed a total comprehensive loss of ¥111,193,686.98[76]. Cash Flow - The net cash flow from operating activities decreased by 34.24% to CNY 42,472,763.21 from CNY 64,590,236.14 in the previous year[9]. - The cash flow from financing activities showed a net inflow of RMB 115,663,339.80, an increase of 88.70% year-on-year, primarily due to reduced financing scale in the previous year[24]. - Cash flow from operating activities was ¥773,351,483.54, down from ¥1,200,543,509.55 in the previous period, indicating a decrease of approximately 35.5%[84]. - The net cash flow from financing activities was -115,663,339.80, compared to -1,023,235,439.84 in the previous period, indicating improved cash management[90]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 9,851,406,771.89, down 2.60% from CNY 10,114,225,431.99 at the end of the previous year[9]. - The total liabilities decreased by RMB 272,176,453.23, a reduction of 41.85%, mainly due to the maturity of a corporate bond issued in 2017[20]. - The company's total assets amounted to ¥11,709,239,725.14, a slight decrease from ¥11,829,660,629.72[69]. - Total liabilities decreased to ¥9,171,941,327.18 from ¥9,327,331,243.32, reflecting a reduction of approximately 1.7%[69]. - The company's equity increased to CNY 2,246,275,337.38 from CNY 2,074,838,914.68, representing a growth of about 8.27%[59]. - The company has accounts receivable totaling CNY 2.35 billion, which is critical for cash flow management[105]. - The company reported a goodwill of CNY 96.77 million, indicating potential future benefits from acquisitions[98]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 63,799, with the top ten shareholders holding 24.26% each[14]. - The company reported no significant non-operating fund occupation by controlling shareholders or related parties during the reporting period[48]. Government Support and Subsidies - The company received government subsidies amounting to CNY 16,900,480.10 during the reporting period[13]. Research and Development - The company’s R&D expenses decreased by RMB 10,020,117.29, a reduction of 17.31%, attributed to cost-cutting measures and the impact of the pandemic[21]. - Research and development expenses were ¥21,052,317.85, down from ¥25,609,286.72, reflecting a reduction of about 17.5% year-over-year[80]. Bids and Contracts - The company successfully won a bid for a project with Nepal Electricity Authority, valued at approximately RMB 80 million, although construction has been delayed due to the pandemic[25]. - The company won a bid for the National Grid's second round of electric meter and information collection equipment, with a total bid amount of approximately RMB 185.59 million[31]. - The company was awarded the first batch of battery cluster procurement for the energy storage project from Pinggao Group, with an estimated bid amount of approximately RMB 83.11 million[32]. - The company was selected as a candidate for the Guangdong Power Grid's marketing equipment framework tender, with a bid amount of approximately RMB 150.23 million[33]. - The company received a bid notification for the first round of electric meter procurement from the National Grid, with a total bid amount of approximately RMB 254.64 million[34]. - The company won a bid for the second round of distribution network material procurement from the National Grid Jiangsu Electric Power Company, with an estimated bid amount of approximately RMB 20.50 million[34]. - The company’s subsidiary Suzhou Kelu Dongzi Electric Co., Ltd. won a bid for automation equipment for 10kV circuit breakers, with a total bid amount of approximately RMB 186.78 million[35]. - The company was selected as a candidate for the second round of electric meter procurement from the National Grid, with an estimated bid amount of approximately RMB 127.39 million[36]. - The company was a candidate for the second batch of metering products procurement from China Southern Power Grid, with an estimated bid amount of approximately RMB 110.57 million[37]. Corporate Actions - The company announced the transfer of 100% equity of a subsidiary for CNY 1, which was completed before the financial report was issued, affecting the consolidation scope[9]. - The company plans to issue non-public corporate bonds not exceeding RMB 1 billion, with a term of up to 5 years[36]. - The company has initiated a non-public bond issuance plan not exceeding RMB 500 million, also with a term of up to 5 years[37].

Financial Performance - Net profit attributable to shareholders was CNY -116,925,338.71, a decline of 160.92% year-on-year[8] - Operating revenue for the period was CNY 824,667,998.61, down 17.90% compared to the same period last year[8] - The net cash flow from operating activities was CNY -109,801,884.40, a decrease of 168.13% year-on-year[8] - Basic earnings per share were CNY -0.0830, reflecting a decline of 161.01% compared to the previous year[8] - The company reported a net loss of CNY 146.62 million for the period, compared to a profit of CNY 47.84 million in the previous year[69] - Total revenue for the current period was CNY 824,667,998.61, a decrease from CNY 1,004,520,825.12 in the previous period, representing a decline of approximately 18%[79] - The net loss for the current period was -111,593,232.48 CNY, compared to a net loss of -21,537,011.80 CNY in the previous period[89] - The company reported a total profit of approximately -¥798.11 million, compared to -¥53.21 million in the previous period[100] Assets and Liabilities - Total assets decreased by 15.21% to CNY 11,373,655,837.65 compared to the end of the previous year[8] - The company's current assets totaled CNY 5.84 billion, down from CNY 6.78 billion at the end of 2018, indicating a decrease of about 13.9%[60] - Total liabilities decreased to CNY 7.90 billion from CNY 9.76 billion, a reduction of approximately 19.1%[66] - The company's short-term borrowings rose to CNY 3.13 billion from CNY 2.85 billion, an increase of about 10.2%[63] - The total equity attributable to shareholders decreased to CNY 3.30 billion from CNY 3.49 billion, a decline of approximately 5.4%[69] - Total assets amounted to CNY 11,945,458,230.00, down from CNY 13,675,079,905.83 in the previous period, a decrease of approximately 12%[79] - Total liabilities were CNY 8,840,431,173.66, compared to CNY 9,797,876,945.92 in the previous period, showing a decline of about 10%[76] Cash Flow - The net cash flow from investment activities increased by RMB 98,020.86 million, a growth of 180.03%, due to the receipt of transfer payments from equity sales[24] - Cash and cash equivalents decreased to CNY 1.07 billion from CNY 1.32 billion, reflecting a decline of approximately 19.0%[60] - The company’s cash and cash equivalents decreased to CNY 1,897,881.24 from CNY 16,430,072.01, indicating a significant drop in liquidity[76] - Net cash flow from operating activities was 39,432,604.55, a decrease from 138,654,530.58 in the previous period[107] - Cash outflow from operating activities amounted to 2,698,504,391.31, compared to 3,135,538,267.21 in the previous period[107] Shareholder Information - The total number of shareholders at the end of the reporting period was 73,724[12] - The largest shareholder, Shenzhen Yuan Zhi Investment Co., Ltd., held 24.26% of the shares[12] - The controlling shareholder, Mr. Rao Luhua, transferred 113,895,069 shares to Yuanzhi Investment on April 26, 2019, completing the transfer process[44] - Yuanzhi Investment increased its stake by acquiring 1,012,900 shares at an average price of 4.93 RMB per share on June 19, 2019, now holding 341,685,291 shares, approximately 24.99% of the total share capital[45] Government Support and Other Income - The company reported non-operating income of CNY 242,763,177.62 for the period[8] - Government subsidies recognized in the current period amounted to CNY 65,718,880.09[8] - The company experienced a significant increase in other income by RMB 3,185.55 million or 70.79%, primarily due to increased government subsidies[19] - The company reported a significant increase in other income, amounting to CNY 21,255,022.27, compared to CNY 5,949,218.48 in the previous period[81] Investment and Financing Activities - The company plans to issue non-public corporate bonds not exceeding RMB 1 billion, with a term of up to 5 years, approved by the board and shareholders[39] - The company intends to issue short-term financing bonds not exceeding RMB 1.2 billion to optimize debt structure and reduce financial costs, with approval from the board and shareholders[40] - The company issued bonds worth RMB 500 million in July 2019, leading to a significant increase in payable bonds by RMB 49,645.22 million or 248.58%[19] Research and Development - Research and development expenses decreased to CNY 59,306,551.75 from CNY 74,579,180.84, a reduction of approximately 20%[79] - Research and development expenses for the current period were approximately ¥85.81 million, an increase from ¥77.51 million in the previous period[100]