证券代码：002121 证券简称：科陆电子 公告编号：2019113 深圳市科陆电子科技股份有限公司 关于参加 2019 年深圳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"改革创新发展沟通互信共赢"——深圳辖区上市公司2019年度投资者 网上集体接待日主题活动，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2019年9月3日14:00至18:00。 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 二〇一九年八月二十九日 ...

Financial Performance - The company's operating revenue for the first half of 2019 was ¥1,516,261,624.45, a decrease of 23.09% compared to ¥1,971,578,911.75 in the same period last year[25]. - The net profit attributable to shareholders of the listed company was -¥77,529,834.66, representing a decline of 219.97% from ¥64,622,142.45 in the previous year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥310,597,230.06, a decrease of 465.09% compared to -¥54,964,295.92 in the same period last year[25]. - The net cash flow from operating activities was ¥149,234,488.95, an increase of 762.86% compared to -¥22,513,685.30 in the previous year[25]. - The total assets at the end of the reporting period were ¥11,867,113,790.52, down 11.53% from ¥13,414,369,894.96 at the end of the previous year[25]. - The net assets attributable to shareholders of the listed company were ¥3,419,399,770.37, a decrease of 2.16% from ¥3,494,788,132.13 at the end of the previous year[25]. - The basic earnings per share were -¥0.0551, a decline of 220.04% from ¥0.0459 in the same period last year[25]. - The diluted earnings per share were also -¥0.0551, reflecting the same decline of 220.04% compared to ¥0.0459 in the previous year[25]. - The weighted average return on net assets was -2.24%, down from 1.33% in the previous year, a decrease of 3.57%[25]. - The company's financial expenses increased by 20.96% to ¥224,436,628.40 due to rising financing costs[61]. Revenue Breakdown - The company's total revenue for the reporting period was approximately RMB 1,513.95 million, a decrease of 23.04% year-over-year[64]. - The domestic revenue accounted for 85.45% of total revenue, amounting to RMB 1,295.61 million, down 27.90% compared to the previous year[64]. - The international revenue increased by 26.35% year-over-year, reaching RMB 220.65 million, which represents 14.55% of total revenue[64]. - The energy management and services segment saw a revenue decline of 33.79%, totaling RMB 202.56 million, primarily due to the transfer of photovoltaic project companies[64]. - The energy storage business experienced a significant revenue drop of 61.99%, amounting to RMB 90.60 million, attributed to supply chain constraints[64]. - The financial services segment's revenue decreased by 33.52%, totaling RMB 21.54 million, due to liquidity issues affecting related businesses[64]. Investment and Projects - The investment amount during the reporting period is RMB 13,272,270.38, a decrease of 97.69% compared to the same period last year[72]. - The company has reported a total of RMB 93.65 million invested in the reporting period for various projects[83]. - The investment progress for the "Smart Energy Storage and Microgrid" project is 64.69%, with a total investment of RMB 18,115 million[83]. - The "New Energy Vehicles and Charging Network" project has a cumulative investment of RMB 13,279.24 million, achieving 28.91% of the planned investment[83]. - The "110MW Ground Photovoltaic Power Generation" project has a cumulative investment of RMB 3,715.17 million, achieving 10.09% of the planned investment[83]. - The company has established a joint venture with LG Chem to promote grid-level energy storage products in Europe and North America, achieving initial success with orders delivered to Italy, Japan, India, and Africa[55]. Corporate Strategy and Innovation - The company is actively participating in the development of new products such as the next-generation TTU, energy routers, and smart switches within the national power IoT initiative[35]. - The company is focusing on expanding its new energy business, particularly in energy storage and electric vehicle charging solutions[35]. - The company has a robust research and development system, recognized as a national technology innovation demonstration enterprise[41]. - The company is focusing on technological innovation in smart grid and energy storage systems, aiming to enhance its core competitiveness in the market[60]. - The company has established a cloud-based lifecycle service system for energy storage systems, optimizing system design based on operational data analysis[44]. Legal and Compliance Issues - The company has disclosed a significant litigation case involving a claim of RMB 87.5 million, which is currently under execution proceedings[162]. - The company confirmed a total outstanding payment of RMB 41.86 million and interest of RMB 3.80 million owed to China Gezhouba Group, totaling RMB 45.66 million[168]. - The company reached a settlement with CATL, agreeing to pay a total of RMB 16.38 million, with a payment plan that includes RMB 4 million by the end of January 2019 and subsequent payments totaling RMB 12.38 million by the end of May 2019[170]. - The company has a legal dispute with Ningde Times regarding a sales contract, with a total amount of RMB 16.38 million involved in the settlement[170]. - The company has a total of 19,778.73 million yuan involved in ongoing litigation, with no significant impact on its operations[175]. Risk Management - The company faces risks from changes in industrial policies, particularly in the strategic emerging industries of smart grids and renewable energy, which could impact business development if significant adjustments occur[131]. - The company has experienced an increase in asset-liability ratio due to rapid expansion in the renewable energy sector, which is capital-intensive, potentially leading to liquidity pressures if business development does not meet expectations[131]. - The company has implemented strict confidentiality measures and incentive plans to mitigate risks related to technology leaks and the loss of core technical personnel, which are critical to maintaining its competitive advantage[131]. Shareholder and Dividend Policy - The company plans to prioritize cash dividends, aiming to distribute at least 10% of the annual distributable profits in cash, with a cumulative cash distribution over the last three years not less than 30% of the average annual distributable profits[144]. - The company will maintain a minimum cash dividend ratio of 80% during profit distribution if it is in a mature stage without significant capital expenditure plans[146].

Financial Performance - The company's operating revenue for Q1 2019 was ¥791,335,602.65, a decrease of 1.35% compared to ¥802,154,590.67 in the same period last year[8] - The net profit attributable to shareholders was -¥110,425,676.48, representing a decline of 458.70% from ¥30,785,231.79 in the previous year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥115,614,295.47, a decrease of 1033.89% compared to ¥12,379,886.73 last year[8] - The basic earnings per share were -¥0.0784, a decrease of 457.99% from ¥0.0219 in the same period last year[8] - The diluted earnings per share were also -¥0.0784, reflecting the same percentage decline as the basic earnings per share[8] - The weighted average return on equity was -3.21%, down 3.85% from 0.64% in the previous year[8] - The company's net profit margin turned negative with an unallocated profit of -¥62,587,416.74, reflecting a significant operational loss[21] - The net profit for the first half of 2019 is expected to be positive, with a year-on-year increase of over 50%[50] - The estimated net profit range for the first half of 2019 is between 9,693.32 million and 12,924.43 million yuan, compared to 6,462.21 million yuan in the same period of 2018[50] Cash Flow and Assets - The net cash flow from operating activities was ¥64,590,236.14, a significant increase of 641.02% from -¥11,938,557.56 in the same period last year[8] - The company's cash and cash equivalents decreased by 39.13% to ¥806,146,566.46 from ¥1,324,276,759.25 due to reduced operational settlement funds[21] - The total assets at the end of the reporting period were ¥11,699,404,169.40, down 12.78% from ¥13,414,369,894.96 at the end of the previous year[8] - The total liabilities as of March 31, 2019, are 8,154.84 million yuan, down from 9,759.79 million yuan at the end of 2018[63] - The company's cash and cash equivalents decreased to 806.15 million yuan from 1,324.28 million yuan at the end of 2018[57] - Total current assets decreased to CNY 6,266,171,444.73 from CNY 6,588,402,736.32, a decline of approximately 4.9%[70] - Total non-current assets decreased to CNY 6,039,138,071.90 from CNY 7,086,677,169.51, a decline of about 14.8%[70] Liabilities and Equity - The net assets attributable to shareholders decreased by 3.12% to ¥3,385,674,560.53 from ¥3,494,788,132.13 at the end of the previous year[8] - The total equity decreased to CNY 3,765,416,448.33 from CNY 3,877,202,959.91, a decline of approximately 2.9%[73] - The total liabilities decreased to CNY 8,539,893,068.30 from CNY 9,797,876,945.92, a reduction of about 12.8%[73] Investment and Financing Activities - The company is in the process of issuing corporate bonds not exceeding RMB 1 billion, with a term of up to 5 years, to support its financial and operational needs[36] - The company plans to issue super short-term financing bonds not exceeding RMB 1.2 billion, with a maturity of up to 270 days, to optimize its debt structure and reduce financial costs[40] - The company intends to repurchase shares with a total amount not exceeding RMB 200 million and not less than RMB 50 million, with a maximum repurchase price of RMB 14.965 per share, within 12 months[41] - The company reported a 415.41% increase in asset impairment losses, amounting to ¥49,471,710.97, compared to a negative asset impairment loss in Q1 2018[25] - The company's financial expenses rose by 9.39% to ¥103,759,182.92, influenced by increased financing costs due to external financial environment[25] Contracts and Bids - The company signed a contract with Yunnan Jiangchuan Cuifeng Cement Co., Ltd. for a total amount of RMB 88.4 million, but the project has stalled due to management issues and insufficient external product demand[29] - The company won multiple bids from the State Grid Corporation, with total bid amounts of approximately RMB 83.82 million, RMB 281.9 million, RMB 225.68 million, and RMB 169.03 million, with some amounts still pending fulfillment[29] - The company secured a bid for the design, supply, installation, and commissioning of a 220kV substation in Nepal, with a total bid amount of approximately RMB 80 million, and construction is actively progressing[29] - The company has ongoing contracts with various entities, including a total of RMB 1.01 billion in contracts for energy meters and related equipment, with several amounts still pending fulfillment[29] - The company is actively pursuing market expansion through various international bids, including a project in Peru with a total bid amount of approximately USD 686.54 million[29] Research and Development - Research and development expenses increased to ¥25,609,286.72 from ¥22,728,618.99 in the previous period, indicating a focus on innovation[84]

Business Strategy and Focus - In 2018, the company focused on enhancing its core business, particularly in the smart grid sector, while reducing its photovoltaic power station holdings to improve cash flow and lower the debt-to-asset ratio [4]. - The company aims to strengthen risk control, improve cash flow, and optimize debt structure to ensure stable operations amid challenging market conditions [7]. - The company is committed to enhancing management efficiency and organizational structure to foster high-quality development and core competitiveness [7]. - The company plans to focus on three main areas: smart grid, new energy, and comprehensive energy services, while promoting global operations and supply chain integration [7]. - The company recognizes the need for deep reforms in business structure, industry integration, and internal management to adapt to market cycles and seize new opportunities [8]. Financial Performance - The company's operating revenue for 2018 was CNY 3,791,321,341.29, a decrease of 13.36% compared to the previous year [30]. - The net profit attributable to shareholders for 2018 was a loss of CNY 1,219,831,071.44, representing a decline of 411.18% year-on-year [30]. - The net cash flow from operating activities for 2018 was CNY 399,107,912.63, an increase of 75.09% compared to the previous year [30]. - The total assets at the end of 2018 were CNY 13,414,369,894.96, down 12.86% from the previous year [34]. - The net assets attributable to shareholders at the end of 2018 were CNY 3,494,788,132.13, a decrease of 26.44% year-on-year [34]. - The company reported a basic earnings per share of -0.8663 for 2018, a decline of 398.93% compared to the previous year [30]. Research and Development - Research and development expenses amounted to 36,448.07 million, representing 9.61% of the total revenue for 2018 [53]. - The company applied for a total of 1,309 patents, with 860 patents granted as of December 31, 2018 [53]. - The company is actively involved in the development of new products such as the next-generation TTU and energy routers, contributing to the smart grid and energy internet initiatives [52]. - The company has made significant advancements in new product development, including smart meters and energy storage systems, with a focus on enhancing core competitiveness [70]. - The company has filed for several new patents, including advancements in battery technology and energy management systems, which are expected to drive future innovation [137]. Market Presence and Operations - The charging station operations saw significant growth, with the charging cloud platform covering 25 provinces, 90 cities, over 2,000 stations, and nearly 30,000 charging piles, ranking among the top in the market [4]. - The company is actively participating in the national power grid's ubiquitous power Internet of Things business to provide comprehensive energy services [6]. - The company has established itself as a leading provider in the smart grid sector, supplying products and solutions to major state-owned power companies [46]. - The company has expanded its renewable energy business, focusing on energy storage systems and electric vehicle charging solutions [47]. - The company is actively expanding its international market presence, securing a contract worth approximately USD 1.515 million with Kenya Power & Lighting Company for prepaid meters and accessories [63]. Legal and Regulatory Matters - The company has ongoing legal proceedings related to a major sales contract with Yunnan Jiangchuan Cuifeng Cement Co., with a court ruling requiring payment of CNY 87,500,000 plus interest [87]. - The company received a regulatory letter from the Shenzhen Stock Exchange regarding the adjustment of idle funds usage [179]. Investment and Funding - The company has established a fundraising supervision agreement with its subsidiaries and financial institutions [179]. - The company plans to use up to RMB 120,000 million of idle raised funds to temporarily supplement working capital, ensuring that project construction is not affected [172]. - The company has approved the use of up to RMB 90,000 million of idle raised funds for temporary working capital, with a repayment period not exceeding twelve months [175]. - The company has transferred up to RMB 5.25 billion of raised funds to time deposits to improve fund utilization efficiency [175]. Customer and Market Engagement - The company has implemented cost-cutting measures that are expected to reduce operational expenses by 5% in 2019 [130]. - The introduction of a new customer loyalty program is expected to increase customer retention rates by 15% [124]. - The company is focusing on developing a new communication method based on plastic optical fibers, which is expected to improve data transmission efficiency [116]. Sustainability and Corporate Responsibility - The company is committed to sustainability, with plans to reduce carbon emissions by 40% by 2025 through innovative technologies [136]. - The company emphasizes the importance of brand building and social responsibility, aiming to create a positive corporate image [7].

Business Strategy and Development - In 2018, the company focused on its core strategy of "focusing on main business," adjusting its business and product structure to enhance profitability[4] - The company aims to strengthen risk control, improve cash flow, and optimize debt structure to mitigate risks and enhance governance[7] - The company plans to deepen organizational reform to enhance operational efficiency and focus on high-quality development management[7] - The company is committed to creating value for customers, shareholders, and employees, with a focus on energy internet products and services[5] - The company emphasizes the importance of brand building and social responsibility in its strategic development[7] - The company is optimistic about future growth and aims to leverage capital markets for resource optimization and industry expansion[8] - The company aims to optimize its business structure by divesting non-core assets and reallocating resources to core business areas[74] Financial Performance - The company's operating revenue for 2018 was CNY 4,376,025,786.02, a decrease of 13.36% compared to the previous year[30] - The net profit attributable to shareholders was CNY -1,219,831,071.44, representing a decline of 411.18% year-on-year[30] - The net cash flow from operating activities was CNY 399,107,912.63, an increase of 75.09% compared to the previous year[30] - The total assets at the end of 2018 were CNY 13,414,369,894.96, down 12.86% from the previous year[34] - The net assets attributable to shareholders decreased by 26.44% to CNY 3,494,788,132.13[34] - The company reported a basic earnings per share of CNY -0.8663, a decrease of 398.93% compared to the previous year[30] - The weighted average return on equity was -29.63% for 2018, compared to 10.96% in 2017[34] - The company reported a total non-operating income of 21,498,957.03 in 2018, a significant decrease from 513,698,873.54 in 2017, reflecting a decline of approximately 95.83%[43] Research and Development - Research and development expenses amounted to 36,448.07 million, representing 9.61% of the total revenue for 2018[53] - The company applied for a total of 1,309 patents, of which 860 patents were granted by the end of 2018[53] - The company is actively involved in the development of new products, including the next-generation TTU and energy routers, as part of its participation in the national power IoT initiative[52] - The company has received several patents for innovative energy management technologies, enhancing its competitive edge in the market[125] - R&D investment totaled 36.45 million RMB, accounting for 9.61% of the 2018 revenue, with significant advancements in smart meters and energy storage systems[70] Market and Product Expansion - The charging station operation business saw significant growth, with charging volume increasing and operational efficiency improving, covering 25 provinces, 90 cities, over 2,000 stations, and nearly 30,000 charging piles[4] - The company has expanded its new energy business, focusing on energy storage systems and electric vehicle charging solutions, which are critical for future growth[47] - The company plans to continue expanding its overseas electric vehicle charging product line and enhance the competitiveness of its charging products[68] - The company is focusing on market expansion in Southeast Asia, targeting a 25% increase in market share by 2020[119] - The company plans to launch three new products in 2019, focusing on energy storage systems and advanced charging solutions[130] Operational Efficiency - The company is committed to providing integrated energy services, leveraging modern technology and internet solutions to meet diverse energy needs[46] - The company is implementing a new strategy to improve operational efficiency, targeting a reduction in costs by 5% over the next fiscal year[119] - The company aims to reduce operational costs by 5% through improved supply chain management and automation technologies[125] Legal and Regulatory Matters - The company has ongoing legal proceedings related to a major sales contract with Yunnan Jiangchuan Cuifeng Cement Co., with a court ruling requiring payment of CNY 87,500,000 plus interest[87] - The independent directors expressed clear agreement on the adjustments made regarding the use of idle raised funds[1] - The company has complied with legal procedures for the adjustments in fund usage[1] - The company received a regulatory letter from the Shenzhen Stock Exchange regarding the adjustments made to the use of raised funds[1] Investment and Funding - The company raised a total of 1.81 billion through a private placement, with net proceeds of approximately 1.80 billion after deducting fees[164] - The company plans to convert up to RMB 2 billion of raised funds into notice deposits and time deposits to improve fund utilization efficiency[1] - The company approved the temporary use of up to RMB 90 million of idle raised funds to supplement working capital, later adjusted to RMB 107 million[1] - The company has utilized approximately 229.92 million of the raised funds in 2017 and 176.08 million in 2018[165] Subsidiaries and Acquisitions - The company established several new subsidiaries, including Hunan Che Dian Network Co., Ltd. and Suzhou Ke Lu Electromechanical Equipment Import and Export Co., Ltd.[104] - The company completed the acquisition of Shenzhen Boshikelu New Energy Industry Fund Partnership (Limited Partnership) with an investment of CNY 100,000.00, holding a 100% stake[157] - The company has ongoing projects in renewable energy, including investments in electric vehicle networks and photovoltaic power stations, indicating a focus on expanding its renewable energy portfolio[157] Customer and Sales Performance - Total sales to the top five customers amounted to ¥373,446,275.59, representing 9.85% of the annual total sales[111] - Sales expenses increased by 15.16% to ¥351,435,369.76 due to increased market investment in energy storage business[112] - User data indicates a growth in active users by 20% compared to the previous year, reaching 5 million active users[118]

Financial Performance - The company's operating revenue for Q1 2019 was ¥791,335,602.65, a decrease of 1.35% compared to ¥802,154,590.67 in the same period last year[8] - The net profit attributable to shareholders of the listed company was a loss of ¥2,561,102.43, representing a decline of 108.32% from a profit of ¥30,785,231.79 in the previous year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥164,318,592.02, a decrease of 1,427.30% compared to a profit of ¥12,379,886.73 in the same period last year[8] - Operating revenue for Q1 2019 was ¥791,335,602.65, a decrease of 1.35% compared to ¥802,154,590.67 in Q1 2018[22] - Operating costs rose by 6.33% to ¥563,222,244.97 from ¥529,684,444.77, reflecting increased expenses[22] - R&D expenses decreased by 1.52% to ¥57,875,657.22 from ¥58,766,705.31[22] - Financial expenses increased by 9.39% to ¥103,759,182.92 from ¥94,855,933.73 due to rising financing costs[22] - The company reported a significant increase in investment income, from a loss of ¥1,630,199.16 to a profit of ¥187,906,704.81[73] - The net profit for the first half of 2018 was CNY 6,462.21 million, indicating significant growth in profitability[43] Cash Flow - The net cash flow from operating activities was ¥64,590,236.14, an increase of 641.02% compared to a negative cash flow of ¥11,938,557.56 in the previous year[8] - Cash and cash equivalents decreased by 39.13% to ¥806,146,566.46 from ¥1,324,276,759.25 due to operational settlement[18] - Cash flow from operating activities generated a net cash inflow of ¥64,590,236.14, a recovery from a net outflow of ¥11,938,557.56 in the previous period[87] - Cash flow from investing activities showed a net inflow of ¥441,477,994.10, compared to a net outflow of ¥522,990,033.01 in the previous period[87] - Cash flow from financing activities resulted in a net outflow of ¥1,023,235,439.84, contrasting with a net inflow of ¥349,875,393.67 in the previous period[90] Assets and Liabilities - Total assets at the end of the reporting period were ¥11,494,542,518.31, a decrease of 14.31% from ¥13,414,369,894.96 at the end of the previous year[8] - Total current assets amounted to ¥5,848,536,057.66, a decrease of approximately 13.7% from ¥6,778,674,213.59 as of December 31, 2018[53] - Total non-current assets decreased to ¥5,646,006,460.65 from ¥6,635,695,681.37, reflecting a decline of about 14.9%[56] - Total liabilities decreased to ¥7,842,115,760.03 from ¥9,759,788,087.63, a reduction of about 19.6%[62] - The total equity attributable to shareholders of the parent company was ¥3,493,539,134.58, slightly down from ¥3,494,788,132.13[62] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 77,120[12] - The largest shareholder, Rao Luhua, holds 32.35% of the shares, amounting to 455,580,277 shares, with 359,713,473 shares pledged[12] - The company intends to repurchase shares with a total amount not exceeding 200 million RMB to enhance investor confidence and maintain shareholder interests[38] - As of March 31, 2019, the company has opened a special securities account for stock repurchase but has not yet started the repurchase of shares[39] Contracts and Projects - The company won the international procurement project for a 500MWh energy storage facility, but progress has been slow as of the reporting period[27] - The company secured a bid with a total amount of approximately $6.8654 million for the joint procurement of civil electricity meters in Peru, with $270,200 remaining unfulfilled[27] - The company won a bid for the provincial-level energy metering verification center project in Guangdong, with a total amount of approximately 101 million RMB, with 20 million RMB remaining unfulfilled[27] - The company signed a contract for a 30MW energy storage auxiliary frequency modulation project with China Resources Power, with delivery completed and awaiting grid acceptance[32] Compliance and Governance - The company has not reported any overdue commitments from actual controllers, shareholders, or related parties during the reporting period[42] - There are no violations regarding external guarantees during the reporting period[47] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[48] - The company has been progressing according to its annual operational plan to achieve stable growth in performance[46]

Financial Performance - Operating revenue for the reporting period was ¥1,004,520,825.12, representing a decrease of 21.61% year-on-year[8]. - Net profit attributable to shareholders was a loss of ¥44,812,658.02, a decline of 132.93% compared to the same period last year[8]. - Basic earnings per share were -¥0.0318, down 132.09% from the previous year[8]. - The weighted average return on equity was -0.92%, a decrease of 3.98% compared to the previous year[8]. - The estimated net profit attributable to shareholders for 2018 is projected to be between 0 and 137.60 million RMB, a significant decrease from 458.66 million RMB in 2017, indicating a potential decline of up to 100%[56]. - The decline in performance is attributed to high financial expenses from previous investments and increased capital expenditures, alongside a decrease in investment income and poor performance from a subsidiary[56]. Cash Flow - The net cash flow from operating activities increased significantly to ¥161,168,215.88, up 1,276.53% year-on-year[8]. - The net cash flow from operating activities improved by 301.70% to CNY 13,865.45 million, driven by better collection of receivables[21]. - The company reported a net cash outflow from investing activities of CNY 54,448.11 million, although this was an improvement of 58.15% compared to the previous year[21]. Shareholder Information - The total number of shareholders at the end of the reporting period was 65,989[11]. - The largest shareholder, Rao Luhua, holds 32.35% of the shares, with a total of 455,580,277 shares, of which 453,093,473 are pledged[11]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[12]. Investments and Acquisitions - Long-term equity investments increased by 103.11% to CNY 89,517.31 million, reflecting additional investments in Shanghai Karnai and Zhong'an Chuangying[16]. - The company plans to continue expanding its energy storage and new energy businesses while gradually divesting from photovoltaic power station assets[18]. - A strategic acquisition of a technology firm was completed, enhancing the company's capabilities in smart grid technology[53]. Contracts and Bids - The company won a bid for the State Grid Corporation's fourth batch of electric meters with a total bid amount of approximately 83.82 million RMB[24]. - The company secured 12 packages in the State Grid Corporation's first batch of electric meters and information collection devices, totaling approximately 281.90 million RMB[24]. - The company, in collaboration with Guangxi Power Transmission and Transformation Engineering Co., won a bid for a 220/400 kV transmission line project in Nepal, with a total bid amount of approximately 135 million RMB[24]. - The company won a bid for a 500 MWh energy storage facility in an international procurement project[26]. - The company was awarded a bid for the procurement of civil electric meters in Peru, with a total bid amount of approximately 686.54 million USD[26]. Financial Strategies - The company plans to publicly issue corporate bonds not exceeding RMB 1 billion, with a term of up to 5 years, but the application was terminated in the first half of 2018 due to changes in the macro financial environment[45]. - The company intends to issue super short-term financing bonds not exceeding RMB 1.2 billion, with a maturity of no more than 270 days, to optimize debt structure and reduce financial costs[48]. - The company has proposed a share repurchase plan with a total amount not exceeding RMB 200 million, with a maximum repurchase price of RMB 15 per share, to enhance investor confidence[49]. Stock Options and Incentives - The incentive plan involves granting a total of 9.855 million rights, accounting for approximately 2.48% of the company's total share capital of 39.669 million shares[33]. - The initial grant includes 4.285 million stock options, representing about 1.08% of the total share capital, with 3.985 million options granted initially, accounting for 40.44% of the total[33]. - The total number of stock options granted was adjusted from 3.985 million to 2.915 million due to some participants forfeiting their rights, while the reserved portion remains unchanged at 300,000[34]. - The company confirmed that the repurchase and cancellation of stock options and restricted shares will not significantly impact its financial status or operational results[36]. Market Outlook and Growth - The company reported a significant increase in revenue for Q3 2018, reaching approximately 1.2 billion RMB, representing a year-over-year growth of 25%[53]. - User data showed an increase in active users by 15% compared to the previous quarter, indicating strong customer engagement[53]. - The company provided a positive outlook for Q4 2018, projecting a revenue growth of 20% to 30% based on current market trends and demand[53]. - New product launches are expected to contribute an additional 200 million RMB in revenue by the end of Q4 2018[53]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2019[53]. - Research and development investments increased by 30% in 2018, focusing on innovative energy storage solutions[53]. Compliance and Governance - The company has not reported any overdue commitments from actual controllers, shareholders, or related parties during the reporting period[55]. - There were no violations regarding external guarantees during the reporting period[58]. - The company did not engage in any entrusted financial management activities during the reporting period[60]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[59]. - The company has not conducted any research, communication, or interview activities during the reporting period[61].

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 1,971,578,911.75, representing a 29.25% increase compared to CNY 1,525,409,336.32 in the same period last year[17]. - The net profit attributable to shareholders of the listed company decreased by 52.05% to CNY 64,622,142.45 from CNY 134,783,712.61 year-on-year[17]. - The net profit after deducting non-recurring gains and losses was CNY -54,964,295.92, a decline of 544.97% compared to CNY -8,522,016.49 in the previous year[17]. - Basic earnings per share decreased by 55.78% to CNY 0.0459 from CNY 0.1038 in the previous year[17]. - The company achieved operating revenue of CNY 1,971,578,911.75, a year-on-year increase of 29.25%[45]. - Net profit attributable to the parent company was CNY 6,462,210, a decrease of 52.05% year-on-year[45]. - The company reported a total profit for the current period of ¥65,679,590.40, compared to ¥148,131,697.89 in the previous period, indicating a decrease of 55.7%[198]. Cash Flow and Assets - The net cash flow from operating activities improved by 72.02%, reaching CNY -22,513,685.30, compared to CNY -80,452,159.12 in the same period last year[17]. - Total assets at the end of the reporting period were CNY 16,622,181,593.34, an increase of 7.51% from CNY 15,460,833,600.10 at the end of the previous year[17]. - The company's cash and cash equivalents at the end of the reporting period were approximately ¥1.70 billion, down 4.36% from the previous year[55]. - The company reported a decrease in cash and cash equivalents to CNY 849.17 million from CNY 1.12 billion, a decline of 23.9%[193]. - Total liabilities amounted to CNY 11.58 billion, up from CNY 10.50 billion, indicating a rise of 10.3%[190]. Investments and Projects - The company has invested in a 150MWP Olympic Welcome photovoltaic corridor project, indicating ongoing investment in renewable energy infrastructure[30]. - The company plans to continue divesting from solar power projects to focus on core businesses like energy storage and batteries[43]. - The total investment during the reporting period was approximately ¥574.12 million, representing a decrease of 27.08% compared to the previous year[60]. - The company has established a new investment in Hunan Che Dian Network Co., Ltd. with a 32% stake and no investment amount reported[61]. - The company has invested RMB 28,001.44 million in smart energy storage and microgrid projects, achieving 51.64% of the planned progress[71]. Revenue Segmentation - The smart grid business contributed CNY 1,286,134,345.41, accounting for 65.23% of total revenue, with a growth of 30.25%[48]. - The energy storage business saw a significant increase in revenue to CNY 238,319,990.96, up 445.14% year-on-year[48]. - The financial business revenue increased by 67.89%, reaching approximately ¥32.40 million, with a gross margin of 99.92%[49]. - Domestic revenue accounted for approximately ¥1.80 billion, reflecting a year-on-year increase of 9.99% in gross margin to 28.92%[50]. - The smart city segment experienced a revenue decline of 64.15%, amounting to approximately ¥65.76 million, with a gross margin of only 3.89%[49]. Corporate Governance and Shareholder Engagement - The company held multiple shareholder meetings with participation rates ranging from 49.1324% to 50.0214% during the reporting period[91]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[92]. - The company has committed to avoid any direct competition with its subsidiaries in product development and business operations[94]. - The company has maintained a consistent approach to governance with regular shareholder meetings[91]. - The participation rates in shareholder meetings indicate a stable level of investor engagement[91]. Risk Management and Strategy - The company faces risks related to changes in industrial policies, management challenges from business expansion, and potential loss of core technical personnel[86][87]. - The company plans to strengthen management controls in areas such as organizational structure and internal controls to mitigate risks associated with rapid growth[87]. - The company aims to optimize its capital structure and diversify funding sources to alleviate potential financial pressures[88]. - The company has established a strong R&D team and is focused on maintaining technological advantages while minimizing risks of technology leakage[87]. - The company is committed to enhancing its market position by adapting to macroeconomic policies and industry trends[86]. Legal and Compliance Matters - A major litigation case involves a payment of RMB 18 million, which is to be settled by April 27, 2018, with further obligations outlined in the agreement[100]. - The company has reached a settlement agreement in a construction contract dispute, resolving all related claims[100]. - The company has not reported any non-standard audit reports for the previous year[99]. - The company has not disclosed any significant arbitration matters during the reporting period[100]. - The company has not reported any major changes in accounting firms during the reporting period[98]. Employee Incentives and Stock Options - The company completed the first phase of its incentive plan, granting 2.915 million stock options at an exercise price of 8.68 RMB per share and 4.15 million restricted shares at a price of 4.09 RMB per share[107]. - The total number of rights granted under the incentive plan is 9.855 million, accounting for approximately 2.48% of the company's total share capital of 39.669 million shares[106]. - The company has implemented an employee incentive plan to attract and retain talent, aligning the interests of shareholders and management[105]. - The company has not yet initiated any poverty alleviation programs and has no subsequent plans for such initiatives[133]. - The company’s stock options and restricted stock incentive plan allows for the unlocking of 15.7025 million shares and the exercise of 21.4124 million options[142].

Financial Performance - The company's revenue for Q1 2018 was ¥802,154,590.67, representing a 12.95% increase compared to ¥710,160,222.04 in the same period last year[8] - Net profit attributable to shareholders decreased by 35.23% to ¥30,785,231.79 from ¥47,530,042.10 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥12,379,886.73, down 32.92% from ¥18,454,834.05 in the previous year[8] - Basic and diluted earnings per share fell by 45.11% to ¥0.0219 from ¥0.0399 year-on-year[8] - The total assets at the end of the reporting period were ¥15,850,661,646.07, a 2.52% increase from ¥15,460,833,600.10 at the end of the previous year[8] - The net assets attributable to shareholders increased by 0.76% to ¥4,854,212,566.62 from ¥4,817,576,966.87 at the end of the previous year[8] Cash Flow and Liabilities - The net cash flow from operating activities improved significantly, reaching -¥11,938,557.56, an 88.56% increase compared to -¥104,377,955.81 in the same period last year[8] - The company's total liabilities decreased by CNY 263.28 million, a reduction of 30.14% in current liabilities due to the maturity of bank loans[15] - Investment activities generated a net cash outflow of CNY 522.99 million, a decrease of 58.35% compared to the previous year, primarily due to reduced cash inflow from asset disposals[16] Operating Costs and Profitability - The gross profit margin for Q1 2018 was impacted by an increase in operating costs, which rose by 18.90% to CNY 529.68 million, compared to CNY 445.47 million in Q1 2017[15] - The company’s financial expenses increased by 32.98% to CNY 94.86 million, driven by higher financing costs and increased borrowing[15] - The company recorded an asset impairment loss of CNY 15.68 million, a significant increase of 857.95% compared to the previous year, reflecting adjustments in accounting policies[15] Non-Recurring Gains - The company reported non-recurring gains of ¥18,405,345.06, which included government subsidies and other income[9] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 64,374[11] - The largest shareholder, Rao Luhua, holds 43.14% of the shares, with a total of 607,440,369 shares, of which 455,580,277 are pledged[11] Contracts and Bids - The company has ongoing contracts with various clients, including a CNY 88.4 million contract with Yunnan Jiangchuan Cuifeng Cement Co., which has faced operational delays due to management issues[18] - The company successfully won multiple bids for power meter procurement from the State Grid Corporation, with total contract values exceeding CNY 31.94 million and CNY 28.19 million in recent tenders[20] - The company won a total of 11 bids in the State Grid Corporation's 2016 third round of electric meter and electricity information collection equipment procurement, with a total bid amount of approximately 225.68 million RMB[22] - In the 2017 first round of electric meter procurement by the State Grid Corporation, the company won 4 bids with a total bid amount of approximately 169.03 million RMB[22] - The company was awarded a contract for a 500MWh energy storage facility in the international procurement project by the Green Energy Storage Technology Research Institute, fulfilling the contract as stipulated[22] - The company won a bid in the FONAFE procurement activity in Peru, with a total bid amount of approximately 6.87 million USD for the joint procurement project of civil electric meters and anti-theft electric meters[22] - The company secured 2 bids in the Guangdong Power Grid's 2017 electric meter framework procurement, with a total bid amount of approximately 129.54 million RMB[23] - The company signed an EPC contract with Shandong Ronghui New Energy Development Co., Ltd. for a 2×300MW generator AGC energy storage auxiliary frequency modulation system project, with a total contract amount of nearly 30 million RMB[23] - The company won a bid for the provincial-level electric energy metering verification center project in Guangdong Power Grid, with a total bid amount of approximately 101 million RMB[23] - The company was awarded a contract for the Inner Mongolia Shangdu Power Plant energy storage AGC frequency modulation project, with a total contract amount of approximately 50 million RMB[23] - The company, in collaboration with Guangxi Power Transmission and Transformation Construction Co., Ltd., won a bid for the design, supply, installation, and commissioning of the 220 kV Barhabise Substation in Nepal, with a total bid amount of approximately 80 million RMB[24] - The company and its subsidiary Suzhou Kelu Dongzi Electric Co., Ltd. won a bid in the State Grid Corporation's 2017 second round of distribution network equipment procurement, with a total bid amount of approximately 755.91 billion RMB[24] Stock Options and Corporate Bonds - The company granted 185,000 stock options and 140,000 restricted shares on November 10, 2014, with the listing date for the options being February 3, 2015[30] - As of December 14, 2015, 840,000 stock options and 1,206,000 restricted shares were available for the second exercise period, with the exercise period from December 25, 2015, to December 24, 2016[30] - The exercise price for the first tranche of stock options was adjusted from 8.625 RMB/share to 3.43 RMB/share, increasing the unexercised options from 1,253,100 to 3,132,750[31] - On November 15, 2016, 187,688 stock options and 139,425 restricted shares were available for the first exercise period, with the exercise period from November 10, 2016, to November 9, 2017[31] - By December 29, 2016, 2,770,000 stock options and 3,970,000 restricted shares were available for the third exercise period, with the exercise period from December 25, 2016, to December 24, 2017[32] - The second exercise period for reserved shares allowed for 214,127 stock options and 157,025 restricted shares, with the exercise period from January 30, 2018, to November 9, 2018[34] - The repurchase price for unexercised stock options was set at 2.716 RMB/share, with a total repurchase amount of 77,541.80 RMB for the second exercise period[34] - The company plans to issue corporate bonds not exceeding RMB 1 billion, with a maturity of up to 5 years[35] - The bond issuance was approved by the board meeting on December 6, 2017, and the shareholders' meeting on December 22, 2017[35] - The company submitted the application materials for the bond issuance to the Shenzhen Stock Exchange on January 16, 2018[35] Future Expectations - The net profit attributable to shareholders for the first half of 2018 is expected to range from 134.78 million to 175.22 million RMB, representing a growth of 0.00% to 30.00% compared to the same period in 2017[41] - The company's smart grid business has steadily developed, with good results achieved in distribution network, renewable energy business, and overseas market expansion[42] Compliance and Governance - There are no overdue commitments from actual controllers, shareholders, related parties, acquirers, or other related parties during the reporting period[40] - The company has no violations regarding external guarantees during the reporting period[43] - There are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[44] Research and Communication - The company conducted on-site research and communication activities with institutions on March 9 and March 12, 2018[45]

Business Strategy and Market Position - In 2017, the company focused on its core business strategy, leading to a significant increase in the distribution network business, which grew by over 100%[7] - The company maintained its leading position in the domestic lithium battery energy storage market, achieving the highest market share[7] - The acquisition of Shanghai Canai Battery, a leading manufacturer of ternary soft-pack batteries, enhanced the company's core competitiveness in the new energy sector[7] - The company expanded its overseas market presence, achieving rapid revenue growth and extending its operations to over 100 countries and regions[7] - The company aims to achieve a market value of 100 billion RMB by becoming a world-class energy service provider[7] - The company is positioned as a leading comprehensive energy service provider, focusing on smart energy solutions across various sectors[32] - The company has been actively winning bids for primary and secondary equipment from major state-owned power companies, indicating strong market demand[32] - The company achieved significant breakthroughs in its distribution network products, including the integration of primary and secondary equipment for the power grid[32] Financial Performance - The company's operating revenue for 2017 was ¥4,376,025,786.02, representing a 38.40% increase compared to ¥3,161,904,621.70 in 2016[22] - The net profit attributable to shareholders for 2017 was ¥458,661,846.58, a 68.75% increase from ¥271,795,401.16 in 2016[22] - The net cash flow from operating activities improved significantly to ¥202,056,301.90, compared to a negative cash flow of ¥65,635,846.85 in 2016, marking a 407.84% increase[22] - The company's total assets increased by 26.48% to ¥15,460,833,600.10 at the end of 2017, up from ¥12,223,676,773.13 at the end of 2016[22] - The company reported a basic earnings per share of ¥0.3391 for 2017, which is a 47.88% increase from ¥0.2293 in 2016[22] - The revenue from the energy storage business surged by 222.10%, amounting to ¥473,200,860.50, up from ¥146,911,672.33 in the previous year[56] - The gross profit margin for the main business was 30.31%, a slight decrease of 1.27% compared to the previous year[60] - The company reported a significant increase in property revenue, which rose by 365.86% to ¥66,777,086.20[60] Research and Development - The company’s R&D investment totaled 30,169.73 million CNY, accounting for 6.89% of the 2017 revenue[39] - The company has applied for 1,140 patents, with 624 patents granted as of December 31, 2017[39] - The company reported an increase in R&D activities, with numerous patents filed in 2017, reflecting a commitment to innovation in energy management technologies[81] - The number of R&D personnel increased to 1,972, up 38.48% from 1,424 in the previous year[84] - Research and development (R&D) investment amounted to ¥301,697,317.28, representing a year-on-year increase of 19.35%[85] Strategic Acquisitions and Investments - The company plans to seek beneficial external acquisitions to create new growth engines[8] - The company plans to acquire Shanghai Kanai New Energy Co., which will strengthen its position in the ternary battery sector and enhance synergies in battery, system, and terminal operations[46] - The company has invested 2,508.71 million CNY in Guangdong Shunde Rural Commercial Bank and 30,344.25 million CNY in Shanghai Karnai New Energy Co., Ltd.[37] - The company has established several new subsidiaries, including a 100% ownership in Yichun Kelu Energy Storage Technology Co., Ltd. and a 100% ownership in Dazhong Kelu Energy Storage Technology Co., Ltd.[100] - The company completed a capital increase of 25 million yuan in Zhejiang Shanding Asset Management Co., Ltd., representing a 30% stake[100] Cash Flow and Financial Management - The company plans to strengthen financial management by optimizing debt structure and improving cash flow[8] - The net cash flow from financing activities increased by CNY 193.48 million year-on-year, primarily due to the completion of a private stock issuance during the reporting period[87] - The company raised ¥1.80 billion through a private placement of shares to fund projects in smart energy storage and electric vehicle charging networks[52] - The company reported a net cash flow from operating activities of ¥202,056,301.90, a significant increase of 407.84% compared to the previous year[86] - Total cash and cash equivalents increased by ¥664,089,949.71, a rise of 169.43% compared to the previous year[86] Market Trends and Future Outlook - The global energy storage market is expected to grow at a compound annual growth rate of 46.3% over the next five years, driven by increased renewable energy generation and decreasing battery production costs[133] - The comprehensive energy service market is expected to reach a scale of 60 billion RMB by 2020, providing significant growth opportunities for the company[141] - The company is focusing on the energy storage sector as a key area for future growth, emphasizing its importance in the transition to renewable energy systems[132] - The company plans to strengthen innovation and R&D efforts, focusing on core businesses such as energy storage and batteries, while gradually divesting from photovoltaic power station assets[149] Shareholder Returns and Dividend Policy - The profit distribution plan for 2017 includes a cash dividend of 0.35 RMB per 10 shares, with no bonus shares issued[12] - The company has established a three-year shareholder return plan (2017-2019) prioritizing cash dividends over stock dividends, with clear standards and procedures for profit distribution[159] - The company's net profit for 2017 was ¥458,661,846.58, with a cash dividend payout ratio of 100%[163] - The company commits to distributing at least 10% of the annual distributable profit in cash each year, with a cumulative cash distribution over the last three years not less than 30% of the average annual distributable profit[169] Legal and Compliance Matters - The company has not faced any penalties or rectification requirements during the reporting period[197] - The company has engaged in significant equity sales, with details provided in the report[126] - The company has a pending arbitration case with Jiangsu Yijing, with a claimed amount of RMB 11,650,380, which has reached a settlement[193] - The company continues to monitor its legal matters and will disclose any significant developments in accordance with regulatory requirements[192]