Group 1: Company Overview and Strategic Direction - The company, formerly known as Guilin Guanglu Digital Measurement Control Co., Ltd., was listed on the SME board in October 2007 and is a leader in the digital measuring instrument industry in China [3]. - In January 2014, the company applied for a major asset restructuring, acquiring related businesses in cable digital television, marking the beginning of a dual-driven operation model combining machinery tools and cultural media [3]. - The company rebranded to "Oriental Times Network Media Co., Ltd." in July 2015, reflecting its strategic shift towards media and entertainment [3]. Group 2: Recent Acquisitions and Investments - In June 2015, the company acquired a 66.67% stake in Shanghai Waterwood Animation, entering the animation content production and theme park industry [3]. - The company invested in a Thai cultural media group in August 2015 to establish a television station broadcasting to Thailand and Southeast Asia, expanding its digital television market [4]. - In September 2015, the company submitted an application for a non-public offering of approximately 5.935 million shares to raise funds for new media operations, including content procurement and investment [4]. Group 3: Business Model and Market Strategy - The company aims to create a competitive ecosystem based on "channel victory, content supremacy, platform support, and user-centricity" [9]. - The strategic focus includes leveraging operator channels for distribution, enhancing content production in film, animation, and gaming, and expanding into virtual reality [5][9]. - The company plans to enhance its core competitiveness by integrating content, platform, and user experiences across various media formats [5]. Group 4: Market Potential and User Engagement - The domestic box office is projected to reach approximately 600 billion CNY in the coming year, with a significant portion of revenue expected from new media models [16]. - The company has already covered 5 million paying users, with a distribution ratio of 30% for mobile, 40% for internet TV, and 30% for cable [16]. - The company emphasizes the importance of high-quality entertainment experiences, aiming to meet the evolving demands of consumers for diverse and personalized content [9]. Group 5: Future Outlook and Goals - The company is committed to expanding its cultural industry footprint, aiming to create a comprehensive entertainment ecosystem that includes various forms of media and user engagement [12]. - The strategic vision includes promoting Chinese culture globally and enhancing the company's market presence through innovative content and distribution strategies [12]. - The company plans to continue its growth trajectory by integrating resources and pursuing mergers and acquisitions to strengthen its market position [12].

证券代码：002175 证券简称：东方网络 东方时代网络传媒股份有限公司投资者关系活动记录表 编号：2016-001 | --- | --- | --- | |----------------|------------------------|------------------------------------------------------| | | | | | 投资者关系活动 | □ | 特定对象调研 □分析师会议 | | 类别 | □ 媒体采访 □业绩说明会 | | | | □新闻发布会 路演活动 | | | | □ 现场参观 | | | | | □其他 （请文字说明其他活动内容） | | 参与单位名称及 | | 益民基金张丽华，中邮基金国晓雯、刘涛，建信基金付竹 | | 人员姓名 | | 云，太平洋保险何希、李冰桓，英大保险聂秀欣、王京乐， | | | | | | | | 鹏扬基金刘宏伟，合正普惠投资高琦祎，新华基金潮礼君， | | | | 招商证券王光兵，安信证券焦娟、钱一江，同安投资金蓓， | | | | 信达证券赵申绅，华安基金张杰伟，幸福人寿李训勇，中信 | | | | 产业基金孙通通 ...

证券代码：002175 证券简称：东方网络 编号：2017-001 东方时代网络传媒股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------------|-------------------------|------------------------------------------------------| | | | | | 投资者关系活动 | □ | 特定对象调研 □分析师会议 | | 类别 | □ | 媒体采访 □业绩说明会 | | | □新闻发布会 路演活动 | | | | □ 现场参观 | | | | | □其他 （请文字说明其他活动内容） | | 参与单位名称及 | | 海通证券郝艳辉、王婉婷，天风证券文浩、张爽、刘源洁、 | | 人员姓名 | | 罗聃、王恩明，中金公司孟玮、丁民杰，东方美林资本刘成 | | | | 轩，华福证券袁渊、曹珍，铭睿博通沈曌鑫，碧桂园金融唐 | | | | 钟一，安信证券张天择，神农投资徐明达，天弘基金徐迅、 | | | | 王贺，九州证券岳志强，辰泰投资王宗仁，裕添宝投资魏凡 | | | | 杰，敦和资管马昀，和君资本 ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥139,464,709.33, representing a 27.43% increase compared to ¥109,441,746.49 in the same period last year[23]. - The net profit attributable to shareholders was ¥27,520,936.12, a significant turnaround from a loss of ¥94,554,467.20 in the previous year, marking a 129.11% improvement[23]. - The net profit after deducting non-recurring gains and losses reached ¥20,521,699.69, compared to a loss of ¥7,097,474.67 last year, reflecting a 389.14% increase[23]. - The net cash flow from operating activities was ¥16,759,717.19, a 265.82% increase from a negative cash flow of ¥10,107,064.22 in the previous year[23]. - Basic and diluted earnings per share improved to ¥0.0216, compared to a loss of ¥0.0741 per share in the same period last year, representing a 129.15% increase[23]. - The operating cost increased to ¥91,193,254.74, a rise of 24.19% from ¥73,429,860.70 in the previous year[40]. - The company's financial expenses saw a dramatic decrease of 106.91%, resulting in a net financial income of -¥1,183,075.11 compared to a cost of ¥17,129,304.05 in the previous year[40]. - The total comprehensive income for the period reached 520 million yuan, reflecting a decrease of 5.6% compared to the previous period[148]. - The net profit attributable to the owners of the parent company was reported at 361 million yuan, representing a decrease of 10% compared to the same period last year[149]. Assets and Liabilities - Total assets at the end of the reporting period were ¥600,256,859.11, a decrease of 2.64% from ¥616,512,487.56 at the end of the previous year[23]. - The total number of shares before the recent changes was 1,276,780,727, with no overall change in total shares after adjustments[107]. - The company's total current assets decreased from ¥212,274,937.89 on January 1, 2022, to ¥201,457,424.02 by June 30, 2022, representing a decline of approximately 5.8%[127]. - Total liabilities decreased from ¥291,631,734.21 to ¥238,881,535.24, a reduction of about 18%[129]. - The company's total equity increased from ¥324,880,753.35 to ¥361,375,323.87, an increase of approximately 11.2%[129]. Business Operations - The company's measuring tools business achieved revenue of 122 million yuan in the first half of 2022, representing a year-on-year growth of 11.96% with a gross margin of 31.94%[33]. - The industrial park management service business generated revenue of 16 million yuan in the first half of 2022, with a gross margin of 55.23%[34]. - The company has successfully developed and mass-produced an IP67 waterproof chip, which has been exported to multiple developed countries[36]. - The company has launched a full series of Bluetooth digital measuring tools, receiving positive feedback from consumers and enhancing customer loyalty[36]. - The company is actively engaged in customized measurement services, which have a strong customer retention rate and significant growth potential[37]. Research and Development - The company is committed to continuous investment in research and development to maintain its leading position in the industry[33]. - Research and development expenses decreased by 34.40% to ¥4,022,338.16 from ¥6,131,432.31 in the previous year[41]. - The company plans to increase R&D investment to enhance product precision, stability, and smart capabilities, aiming to improve market competitiveness[60]. - The company is exploring 5G applications in the measurement field to support digital transformation for traditional enterprises[61]. Market Strategy - The company plans to deepen the promotion of its high-end brand "since1989 series" to enhance brand value and customer loyalty[37]. - The company aims to expand its product offerings in the "big measurement" field, including displacement measurement products, to establish industry leadership[60]. - The company is focusing on high-quality development to enhance competitiveness and profitability while mitigating risks from the US-China trade war by investing in emerging markets[60]. - The company plans to enhance its capabilities in the new field of comprehensive services for industrial parks, leveraging various resources to build market competitiveness[68]. Social Responsibility - The company donated 468 safety backpacks worth over 76,000 yuan to impoverished children in Guilin City as part of its social responsibility initiatives[80]. - The company provided over 20 job opportunities to local impoverished households, enhancing their self-sufficiency[81]. - The company engaged in various charitable activities, including donating over 6,000 yuan in supplies to frontline pandemic workers[81]. - The company plans to implement a "point-to-point" poverty alleviation model, focusing on multi-channel income generation for impoverished communities[81]. Environmental Initiatives - The company has implemented measures to reduce carbon emissions, including zero wastewater discharge and the use of solar energy systems[78]. - The company encourages the use of electric vehicles and public transportation among employees to further reduce carbon footprint[78]. - The company is not classified as a key pollutant discharge unit by environmental protection authorities and has not faced penalties for environmental violations[77]. Corporate Governance - The company maintains transparent communication with investors through various channels, enhancing its credibility[79]. - The company has not engaged in any non-operating fund occupation by controlling shareholders during the reporting period[85]. - The company has no record of any violations regarding external guarantees during the reporting period[86]. - The semi-annual financial report was not audited, indicating a potential area for future scrutiny[125].

Financial Performance - The company's operating revenue for Q1 2022 was ¥66,432,286.18, representing a 47.96% increase compared to ¥44,898,770.48 in the same period last year[4] - Net profit attributable to shareholders was ¥8,707,175.62, a significant turnaround from a loss of ¥32,730,407.62 in the previous year, marking a 126.60% increase[4] - Basic and diluted earnings per share were both ¥0.0068, a 115.67% increase from -¥0.0434 in the same period last year[4] - Total operating revenue for Q1 2022 was ¥66,432,286.18, an increase of 48% compared to ¥44,898,770.48 in Q1 2021[24] - Net profit for Q1 2022 was ¥8,707,175.62, a significant recovery from a net loss of ¥32,730,407.62 in Q1 2021[25] - Earnings per share for Q1 2022 was ¥0.0068, compared to a loss per share of ¥0.0434 in Q1 2021[26] Cash Flow and Financial Position - The net cash flow from operating activities improved by 71.19%, reaching -¥5,643,503.76 compared to -¥19,586,925.76 in the prior year[13] - The net cash flow from financing activities was -¥19,400,496.51, a significant decline attributed to loan repayments[13] - Operating cash flow for Q1 2022 showed a net outflow of ¥5,643,503.76, an improvement from a net outflow of ¥19,586,925.76 in Q1 2021[28] - The total cash and cash equivalents at the end of the period decreased to 48,067,431.72 CNY from 77,142,212.05 CNY at the beginning of the period, reflecting a net decrease of 29,074,780.33 CNY[29] - The company reported cash outflows for debt repayment amounting to 24,500,000.00 CNY and dividend payments totaling 1,282,426.75 CNY[29] - The cash flow from financing activities showed a total outflow of 25,782,426.75 CNY, highlighting the company's financial obligations during the quarter[29] - The impact of exchange rate fluctuations on cash and cash equivalents was -48,358.89 CNY, which contributed to the overall cash decrease[29] Assets and Liabilities - Total assets decreased by 3.01% to ¥597,985,559.01 from ¥616,512,487.56 at the end of the previous year[4] - The total current assets decreased from 212,274,937.89 yuan to 196,397,404.22 yuan, a reduction of approximately 7.3%[20] - Total liabilities decreased to ¥258,015,699.80 in Q1 2022 from ¥291,631,734.21 in Q1 2021, a reduction of approximately 12%[24] - The total current liabilities decreased from 112,024,422.90 yuan to 78,487,640.06 yuan, a reduction of approximately 30%[21] - The company reported a significant decrease in short-term borrowings from 49,229,200.00 yuan to 24,729,200.00 yuan, a reduction of approximately 49.8%[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 39,158[15] - The largest shareholder, Kexiang High-tech Development Co., Ltd., holds 19.21% of the shares, totaling 245,210,042 shares[15] Other Financial Metrics - The company’s financial expenses decreased by 95.72% to ¥330,588.41, primarily due to reduced borrowing costs[12] - The company reported a significant reduction in financial expenses, with interest expenses dropping to ¥266,589.24 from ¥8,008,899.31 in the previous year[24] - The company recorded a credit impairment loss of ¥287,533.83 in Q1 2022, a notable improvement compared to a loss of ¥28,873,641.40 in Q1 2021[25] - The company’s development expenses increased from 2,611,326.88 yuan to 3,583,646.60 yuan, an increase of approximately 37.1%[21] Strategic Initiatives - The company plans to continue focusing on market expansion and new product development to drive future growth[24] - The company has successfully applied to lift the delisting risk warning, with the stock name changing from "*ST Dongwang" to "Dongfang Network" on April 11, 2022[17] Audit Status - The first quarter report was not audited, which may affect the reliability of the financial data presented[30]

Financial Performance - The company's operating revenue for 2021 was approximately ¥233.81 million, representing a 10.53% increase compared to ¥211.54 million in 2020[21]. - The net profit attributable to shareholders for 2021 was approximately ¥409.39 million, a significant recovery from a loss of ¥1.08 billion in 2020, marking a 138.08% increase[21]. - Basic earnings per share for 2021 were ¥0.3206, a turnaround from a loss of ¥0.8421 per share in 2020, reflecting a 138.07% increase[21]. - The company reported a comprehensive diluted earnings per share of CNY 0.3206 based on the latest share capital[22]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion yuan, representing a 25% year-over-year growth[108]. - The company provided guidance for the next quarter, expecting revenue to grow by 20% to 1.44 billion yuan[108]. - The company reported a significant improvement in its financial performance, with total revenue increasing by 20% year-over-year[150]. Cash Flow and Assets - The net cash flow from operating activities for 2021 was approximately -¥10.93 million, a decline of 127.88% compared to ¥39.20 million in 2020[21]. - The company's total assets at the end of 2021 were approximately CNY 616.51 million, a slight increase of 0.25% compared to the end of 2020[22]. - Operating cash inflow for 2021 was $270.26 million, an increase of 12.41% compared to 2020[69]. - Operating cash outflow for 2021 was $281.19 million, a significant increase of 39.73% year-over-year[69]. - Total assets at the end of 2021 amounted to $616.56 million, with cash and cash equivalents representing 12.51% of total assets[74]. Business Strategy and Operations - The company has shifted its focus back to the production and sales of digital measuring tools after divesting from the loss-making cultural media segment[20]. - The company aims to become a leading and world-class precision measuring instrument manufacturer and measurement service provider[34]. - The company has been actively expanding its business model to include comprehensive management services in industrial parks[20]. - The company is positioning itself as a comprehensive service provider for industrial park design, planning, construction management, and operation, responding to national industrial development trends[43]. - The company is focusing on high-quality development to improve profitability and risk resistance, particularly in emerging markets[80]. Research and Development - The company plans to enhance its product structure and expand its product line through continuous R&D investment to maintain its competitive edge in the precision measuring instrument industry[34]. - The company significantly increased its R&D investment by 112.63% to 14,699,440.94 yuan, which is 6.29% of the operating revenue[68]. - The company is developing a hybrid positioning electromagnetic induction displacement sensor, aiming for IP67 waterproof performance and reduced power consumption[64]. - The company has launched a full series of Bluetooth digital measuring instruments in 2021, receiving positive consumer feedback and marking a new era in measurement IoT[40]. Market and Sales - Domestic sales accounted for 82.46% of total revenue, amounting to ¥192,791,979.93, while international sales increased by 36.20% to ¥41,015,894.80[50]. - The measurement tools segment generated revenue of ¥233,237,395.91, a 10.36% increase compared to the previous year, with a gross margin of 33.52%[49]. - The company aims to enhance brand value and expand market share through high-end measurement tools branding and improved product quality[44]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share within the next two years[154]. Governance and Compliance - The company has established a complete and independent governance structure, complying with relevant laws and regulations, ensuring no significant discrepancies with the regulatory requirements set by the China Securities Regulatory Commission[96]. - The board of directors includes three independent directors, accounting for over one-third of the total board members, ensuring fair and independent decision-making[94]. - The company emphasizes fair and timely information disclosure, adhering to the regulations and maintaining open communication with investors[95]. - The company has committed to compliance with the Securities Law and has faced consequences for previous violations[112]. Legal and Regulatory Matters - The company received a public reprimand from the Shenzhen Stock Exchange due to financial accounting report issues for the year 2018, including significant accounting errors and failure to disclose major lawsuits in a timely manner[171]. - The company won a lawsuit against Fantasy Dreamworks for a contract dispute involving an amount of 1,087,000 RMB, with the court ruling in favor of the company[169]. - The company lost a lawsuit against Rongju Tianxia Investment Management for a partnership dispute involving an amount of 105,324,300 RMB, and has fulfilled its compensation obligations[169]. Shareholder Engagement and Remuneration - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 419.27 million[113]. - The company has established a performance-based remuneration system for its directors and senior management, linking pay to company performance and individual assessments[113]. - The company is actively engaging in shareholder communication, as evidenced by the scheduled temporary shareholder meetings to discuss important financial matters[100]. Future Commitments and Plans - The company has committed to achieving a net profit of no less than 250 million yuan, with the performance commitment period spanning three accounting years[138]. - The company is currently fulfilling its commitment regarding the lock-up period for shares acquired, which lasts for three years from December 27, 2021[138]. - The company is actively working on fulfilling its commitments related to performance and shareholding regulations[138].

Financial Performance - The company's operating revenue for Q3 2021 was ¥57,784,202.64, representing a 30.40% increase year-over-year[5] - Total operating revenue for Q3 2021 was ¥167,225,949.13, an increase of 20.2% compared to ¥139,229,031.17 in Q3 2020[28] - The net profit attributable to shareholders was -¥25,142,529.54, a 96.08% decline compared to the same period last year[5] - Net profit for Q3 2021 was a loss of ¥119,696,996.74, compared to a loss of ¥670,979,945.55 in Q3 2020, indicating a significant reduction in losses[29] - The basic earnings per share for the quarter was -¥0.0334, reflecting a 96.08% decrease year-over-year[6] - The basic and diluted earnings per share for Q3 2021 were both -¥0.1588, an improvement from -¥0.8902 in the same quarter last year[30] Assets and Liabilities - Total assets at the end of the reporting period were ¥619,455,900.31, a slight increase of 0.73% from the previous year[6] - The total liabilities as of Q3 2021 amounted to ¥1,643,579,325.36, an increase from ¥1,519,381,536.34 in the previous year[26] - The total equity attributable to shareholders decreased by 13.23% to -¥1,024,123,425.05[6] - The total equity attributable to the parent company was -¥1,024,123,425.05, worsening from -¥904,426,428.31 in Q3 2020[26] Cash Flow - The company reported a net cash flow from operating activities of -¥9,763,056.60, a significant decline of 190.29% compared to the previous year[13] - The net cash flow from operating activities for Q3 2021 was -¥9,763,056.60, a decline from a positive cash flow of ¥10,812,710.48 in Q3 2020[33] - The cash received from operating activities totaled ¥192,052,344.29, compared to ¥159,571,097.96 in the previous year[33] - The net cash flow from investment activities was -7,955,070.02, indicating a significant outflow compared to the inflow of 81,680.00[34] - The total cash inflow from financing activities was 11,500,000.00, while the cash outflow was 11,360,999.30, resulting in a net cash flow of 139,000.70[34] - The net increase in cash and cash equivalents for the quarter was -17,698,190.84, contrasting with an increase of 25,781,906.77 in the previous year[35] - The ending balance of cash and cash equivalents was 53,850,314.65, down from 71,548,505.49 at the beginning of the period[35] Inventory and Expenses - The company’s inventory increased by 46.06% to ¥92,587,020.01, attributed to rising material prices and increased production volume[11] - Total operating costs for Q3 2021 were ¥176,526,463.51, up 14.4% from ¥154,348,807.95 in the same period last year[28] - The company incurred sales expenses of ¥4,995,563.90 in Q3 2021, a decrease from ¥6,571,081.19 in Q3 2020[28] Credit and Impairment - The company incurred a credit impairment loss of -¥110,084,754.96, a 597.42% increase year-over-year, primarily due to guarantees and commitments[12] - The company reported a credit impairment loss of -¥110,084,754.96 in Q3 2021, compared to -¥15,784,583.39 in Q3 2020[29] Corporate Developments - The company is undergoing a pre-restructuring process, with multiple announcements related to court applications and creditor meetings[20] - The company has signed a partnership agreement with Ningbo Meishan Bonded Port Area Dongwang Anjie Investment Partnership, indicating potential strategic expansion[20] - The company is facing a bankruptcy liquidation process for its wholly-owned subsidiary, which may impact its overall financial health[20] Other Financial Information - The company has not made any adjustments or restatements to previous years' financial data[5] - The company did not undergo an audit for the third quarter report[36]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥109,441,746.49, representing a 15.30% increase compared to ¥94,915,139.01 in the same period last year[21]. - The net profit attributable to shareholders was -¥94,554,467.20, a decrease of 222.17% from -¥29,349,189.38 in the previous year[21]. - The net cash flow from operating activities was -¥10,107,064.22, a decline of 208.54% compared to ¥9,312,188.82 in the same period last year[21]. - The basic earnings per share were -¥0.1254, down 222.37% from -¥0.0389 in the previous year[21]. - The company's revenue for the current period reached ¥109,441,746.49, representing a year-over-year increase of 15.30% compared to ¥94,915,139.01 in the same period last year[37]. - Operating costs increased to ¥73,429,860.70, up 9.53% from ¥67,043,147.89 in the previous year[37]. - The net profit for the first half of 2021 was a loss of CNY 113,461,480.09, compared to a loss of CNY 39,313,497.34 in the first half of 2020, indicating a significant increase in losses[144]. - The total operating expenses for the first half of 2021 were CNY 136,752,729.20, up from CNY 103,268,852.05 in the same period of 2020, reflecting a rise in operational costs[146]. Assets and Liabilities - Total assets at the end of the reporting period were ¥608,080,929.12, a decrease of 1.12% from ¥614,955,108.03 at the end of the previous year[21]. - The company's cash and cash equivalents decreased to ¥51,703,556.02, down 3.18% from ¥71,846,539.49 at the end of the previous year[46]. - Short-term borrowings rose to ¥226,862,396.55, representing an increase of 2.70% from ¥212,862,396.55[46]. - The company's total assets decreased from ¥614,955,108.03 at the end of 2020 to ¥608,080,929.12, a decline of about 1.4%[132]. - The company's total equity attributable to shareholders decreased from -¥904,426,428.31 at the end of 2020 to -¥998,980,895.51, indicating a decline of approximately 10.4%[132]. - The total liabilities increased from ¥1,519,381,536.34 at the end of 2020 to ¥1,607,061,824.63, an increase of approximately 5.8%[132]. Research and Development - Research and development expenses surged by 234.99% to ¥6,131,432.31, primarily due to increased labor and material costs[38]. - The company is investing in R&D to expand its product line into non-contact measurement and remote monitoring products[34]. - The company has developed several core technologies, including a patented waterproof chip, which has been mass-produced and exported to developed countries[34]. Corporate Governance and Management - The company has committed to enhancing corporate governance to protect shareholder rights, ensuring timely and accurate information disclosure[65]. - There were changes in senior management, including the appointment of a new CFO on March 26, 2021[60]. - The company emphasizes employee rights protection, implementing a talent strategy and providing social insurance to employees[65]. Legal and Compliance Issues - The company has not faced any penalties or rectification issues during the reporting period[79]. - The company has disclosed ongoing litigation and arbitration cases in multiple announcements, ensuring transparency[78]. - The company won a lawsuit against DreamWorks (Beijing) Limited, with a disputed amount of 1.087 million yuan[76]. - The company lost a lawsuit against Rongju Tianxia Investment Management (Shenzhen) Limited, with a disputed amount of 105.3243 million yuan, resulting in asset freezing[76]. - The company lost an arbitration case against Guotou Taikang Trust Limited, with a disputed amount of 5.119 million yuan, leading to further legal actions[76]. Future Outlook and Strategy - The company emphasizes the importance of risk factors in its future plans and strategies, urging investors to be cautious[6]. - To mitigate risks, the company plans to deepen its domestic market efforts and expand the sales proportion of mid-to-high-end products[54]. - The company aims to enhance its smart park and IoT park construction to improve service levels and operational efficiency amid ongoing pandemic challenges[55]. - Management plans to enhance new product development and expand urban and industrial park management services to foster new growth[179]. - The company aims to improve its financial performance in the upcoming quarters by optimizing operational efficiency and exploring new revenue streams[167]. Shareholder Information - The largest shareholder, Peng Peng, holds 57,853,383 shares, representing 7.68% of the total shares[111]. - The second largest shareholder, Nantong Dongbai Cultural Development Partnership, holds 40,592,469 shares, representing 5.39% of the total shares[111]. - The total number of ordinary shareholders at the end of the reporting period is 45,446[111]. - The company has not implemented any share buyback or reduction during the reporting period[108]. Financial Reporting and Audit - The semi-annual financial report has not been audited[71]. - The financial statements are prepared based on the assumption of going concern, reflecting the company's ongoing operations[177]. - The company's accounting policies comply with the relevant accounting standards and accurately represent its financial position as of June 30, 2021[180].

Financial Performance - The company's operating revenue for 2020 was ¥211,536,040.51, a decrease of 8.39% compared to ¥230,920,072.82 in 2019[17] - The net profit attributable to shareholders was -¥1,075,151,788.01, representing a decline of 802.19% from ¥153,114,926.99 in the previous year[17] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥92,567,790.87, an improvement of 39.01% compared to -¥151,772,405.97 in 2019[17] - The basic earnings per share for 2020 was -¥1.4264, a decrease of 802.31% from ¥0.2031 in 2019[17] - The diluted earnings per share for 2020 was -1.4264 CNY, a decrease of 802.31% compared to the previous year[19] - The total assets at the end of 2020 were 614,955,108.03 CNY, representing a decrease of 7.21% from the end of 2019[19] - The net assets attributable to shareholders of the listed company were -904,426,428.31 CNY, a decline of 629.76% compared to the end of 2019[19] - The company reported a net loss attributable to shareholders of -404,171,842.46 CNY in Q4 2020[23] - Non-recurring losses for 2020 totaled -982,583,997.14 CNY, primarily due to litigation losses and other non-operational factors[26] Cash Flow and Investments - The net cash flow from operating activities was ¥39,198,519.61, a significant increase of 1,262.02% from ¥2,877,965.49 in 2019[17] - The net cash flow from operating activities increased by 1,262.02% to 39,198,519.61 CNY, despite a 5.56% decline in cash inflows[60] - The net cash flow from investment activities decreased by 332.32%, mainly due to a decrease in cash payments for fixed asset purchases compared to the previous year[61] - The net cash flow from financing activities decreased by 113.71%, primarily due to a reduction in loan repayments and interest payments compared to the previous year[61] - The net increase in cash and cash equivalents decreased by 168.05%, attributed to changes in cash flows from operating, investing, and financing activities[61] - Cash and cash equivalents at the end of 2020 amounted to ¥71,846,539.49, representing 11.68% of total assets, up from 2.43% at the beginning of the year[66] Business Strategy and Operations - The company has undergone significant changes in its business focus, shifting back to its core business of digital measuring tools and equipment[16] - The company is actively exploring comprehensive management services in industrial parks as part of its dual business model strategy[16] - The company plans to implement a dual business model focusing on "industrial park comprehensive management services" and "measurement instrument R&D, production, and sales"[39] - The company has focused on domestic market expansion in response to the pandemic, increasing investment and launching new products[29] - The company aims to expand its market presence in Southeast Asia and Russia to mitigate risks from the US-China trade war, ensuring a diversified market approach[71] - The company plans to develop customized automated measurement products for specific users, capitalizing on the growing trend towards automation and smart technology[71] - The company is set to enter the 5G and industrial internet sectors, leveraging its digital operations experience to provide services for traditional enterprises' digital transformation[71] Research and Development - The company achieved a significant technological upgrade with the high-end digital measuring instrument industrialization project, enhancing production efficiency and product quality[29] - The company maintains a leading position in the measurement industry, with ongoing investments in research and development to sustain its competitive edge[30] - The number of R&D personnel increased by 5.32% to 99, with R&D investment amounting to 6,913,006.79 CNY, representing 3.27% of operating revenue[59] - Research and development expenses decreased by 38.78% to 5,720,307.89 CNY, reflecting reduced R&D investment and changes in the consolidation scope[56] - Research and development investments have increased by 30%, focusing on innovative technologies to improve product efficiency[99] Corporate Governance and Compliance - The company reported a retained audit opinion from its accounting firm, indicating potential concerns that investors should be aware of[6] - The company has outlined potential risks and countermeasures in its annual report, emphasizing the importance of investor awareness[6] - The company has established a framework to ensure that any unavoidable business dealings with Guanglu Digital Measurement are conducted at fair market prices[92] - The company has implemented measures to prevent illegal occupation of funds and assets, ensuring compliance with legal obligations[89] - The company adheres to strict information disclosure practices, ensuring timely and accurate communication with investors[182] - The governance structure of the company aligns with the regulatory requirements set by the China Securities Regulatory Commission[183] Shareholder and Management Changes - The company plans not to distribute cash dividends or issue bonus shares[7] - The company plans to increase shareholding within the next 6 months, with Zhang Qun intending to invest no less than 3 million RMB and no more than 6 million RMB, while Wang Songqi plans to invest between 2 million and 4 million RMB[93] - The company has a diverse management team with backgrounds in engineering, finance, and project management, enhancing its operational capabilities[164] - The company experienced a turnover of senior management, with several resignations including Xu Zhiqiang and Liu Heqing due to personal reasons[162] - The company appointed Chen Bin as the new Deputy General Manager on December 28, 2020, and Chen Wei as the new Chief Financial Officer on March 26, 2021[162] Legal Matters and Risks - The company won a lawsuit against Huanjing Dream Factory with a disputed amount of 1.087 million yuan, and the court has enforced the judgment due to non-payment by the opposing party[105] - The company lost a lawsuit involving Rongju Tianxia Investment Management with a disputed amount of 105.3243 million yuan, resulting in the freezing of part of the company's assets[105] - The company faced a loss in arbitration against Guotou Taikang Trust with a disputed amount of 5.119 million yuan, leading to the termination of enforcement due to lack of executable assets[105] - The company has a pending labor arbitration case involving a disputed amount of 116.76 million yuan, which has been mediated but remains unresolved[107] - The company was fined 300,000 RMB for failing to disclose significant litigation matters in accordance with the Securities Law[108] Market and Sales Performance - The revenue from the measurement instrument manufacturing industry was CNY 211,350,594.48, accounting for 99.91% of total revenue, with a year-on-year decrease of 3.54%[42] - Domestic sales accounted for 85.76% of total revenue, while international sales accounted for 14.24%, with a year-on-year decrease of 9.24% and 2.91% respectively[43] - The gross profit margin for the measurement instrument manufacturing industry was 32.73%, with a year-on-year increase of 2.44%[45] - The company's physical sales revenue decreased by 3.13% to 1,771,657 units in 2020, while production volume dropped by 26.81% to 1,561,750 units[46] Employee and Social Responsibility - The total number of employees in the company is 801, with 784 from major subsidiaries and 17 from the parent company[174] - The company has established a comprehensive salary management system and incentive mechanism in accordance with national labor laws[176] - The company actively fulfills its corporate social responsibilities, ensuring shareholder rights and employee welfare[128]

Financial Performance - Revenue for Q1 2021 was CNY 44,898,770.48, representing a 35.87% increase compared to CNY 33,044,989.78 in the same period last year[9] - Net profit attributable to shareholders was CNY -32,730,407.62, a decrease of 252.54% from CNY -9,284,195.61 year-over-year[9] - Basic and diluted earnings per share were both CNY -0.0434, down 252.85% from CNY -0.0123 in the same quarter last year[9] - The company reported a net loss of CNY 28,873,641.40 due to credit impairment losses, compared to a loss of CNY 120,096.92 in the previous period[35] - The total comprehensive income for the first quarter was -32,730,407.62 CNY, compared to -9,284,195.61 CNY in the previous year, indicating a worsening financial position[37] - The total profit for the first quarter was -40,742,380.70 CNY, compared to -9,573,469.15 CNY in the same period last year, reflecting a substantial increase in losses[41] Cash Flow - Net cash flow from operating activities was CNY -19,586,925.76, reflecting a decline of 212.28% compared to CNY -6,272,316.77 in the previous year[9] - Cash inflows from operating activities totaled 49,927,021.11 CNY, compared to 43,801,791.78 CNY in the same period last year, marking an increase of about 14.5%[43] - Total cash outflow from operating activities amounted to 69,513,946.87 yuan, up from 50,074,108.55 yuan year-over-year[44] - Cash flow from investing activities showed a net outflow of -3,132,017.59 yuan, a significant decrease from a net inflow of 5,747,825.33 yuan in the previous period[44] - Cash flow from financing activities resulted in a net inflow of 5,768,881.25 yuan, down from 7,049,487.92 yuan in the prior year[45] - The ending balance of cash and cash equivalents was 54,829,679.89 yuan, a decrease from 22,471,252.14 yuan in the previous period[45] Assets and Liabilities - Total assets at the end of the reporting period were CNY 611,781,283.51, a decrease of 0.52% from CNY 614,955,108.03 at the end of the previous year[9] - Total liabilities as of March 31, 2021, amounted to CNY 1,548,938,119.44, compared to CNY 1,519,381,536.34 at the end of 2020[32] - The total equity attributable to shareholders of the parent company was CNY -937,156,835.93, a decrease from CNY -904,426,428.31 in the previous period[29] - The company’s total current liabilities increased to CNY 1,227,076,923.57 from CNY 1,197,163,619.28[32] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 49,319[13] - The top shareholder, Peng Peng, holds 7.68% of shares, amounting to 57,853,383 shares, with 30,999,990 shares pledged[13] Operational Highlights - Operating revenue increased by 35.87% compared to the same period last year, primarily due to the impact of COVID-19 in the previous year[17] - Total operating costs for Q1 2021 were CNY 48,999,185.27, up from CNY 42,576,093.34 in the previous period[35] - Development expenses increased by 81.23%, attributed to new R&D projects and increased R&D investment[17] - Other income surged by 109.84%, primarily due to an increase in government subsidies received during the reporting period[17] - The company reported a significant credit impairment loss of 23,941.95%, mainly due to liabilities arising from litigation losses during the reporting period[17] Cash Management - Cash and cash equivalents decreased from 71,846,539.49 RMB to 55,046,016.48 RMB during the same period[26] - Cash and cash equivalents decreased by 16,718,825.60 yuan during the period, contrasting with an increase of 6,596,563.36 yuan in the previous period[45] - The company reported a cash outflow of 3,132,817.59 yuan for the acquisition of fixed assets and intangible assets, compared to 702,174.67 yuan in the previous period[45] Other Information - The company did not report any adjustments or restatements of prior year accounting data[9] - The company has not conducted any repurchase transactions during the reporting period[19] - There were no overdue commitments from major shareholders or related parties during the reporting period[21] - The company has not reported any new product developments or market expansion strategies in the current quarter[36] - The company’s research and development expenses were not specified in the report[35]