Financial Performance - The company's operating revenue for the third quarter reached ¥3,842,201,128.75, an increase of 4.00% compared to the previous quarter[5] - Net profit attributable to shareholders was ¥147,589,899.73, reflecting a growth of 16.33% year-on-year[5] - The net profit excluding non-recurring gains and losses was ¥150,242,873.36, up 30.62% compared to the same period last year[5] - Total operating revenue for the third quarter reached ¥10,993,866,012.46, an increase of 18.2% compared to ¥9,304,811,910.54 in the same period last year[26] - The company's net profit for the period was ¥364,056,979.80, compared to ¥200,631,750.49 in the previous year, indicating a significant growth[26] - The net profit for Q3 2022 was approximately ¥337.16 million, an increase of 76.9% compared to ¥190.64 million in Q3 2021[29] - The total comprehensive income for Q3 2022 was approximately ¥261.24 million, compared to ¥176.33 million in Q3 2021, reflecting a growth of 48.1%[29] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥13,098,675,462.03, representing a 14.69% increase from the end of the previous year[5] - Total assets as of September 30, 2022, amounted to ¥13,098,675,462.03, up from ¥11,420,863,373.28 at the beginning of the year, representing a growth of 14.7%[22] - Current assets increased to ¥10,419,529,521.28 from ¥8,967,283,478.40, marking a rise of 16.2%[22] - The total liabilities increased to ¥8,319,531,581.74 from ¥6,866,259,213.22, showing a growth of 21.1%[22] - The company reported a 200.19% increase in current liabilities due to an increase in long-term borrowings maturing within one year, totaling ¥21,120.52 million[12] Cash Flow - The company reported a net cash flow from operating activities of -¥227,123,146.57, a decline of 145.94% compared to the same period last year[5] - The net cash flow from operating activities decreased by 145.94% to -¥22,712.31 million, attributed to increased sales scale and cash payments for purchases[12] - Cash inflow from operating activities totaled approximately ¥9.13 billion, an increase of 20.5% from ¥7.58 billion in the previous year[30] - The net cash flow from operating activities was negative at approximately -¥227.12 million, a decline from a positive ¥494.38 million in Q3 2021[33] - The net cash flow from investing activities dropped by 730.84% to -¥35,771.90 million, driven by higher asset acquisition expenditures and increased margin payments for hedging tools[12] - The net cash flow from investing activities was negative at approximately -¥357.72 million, worsening from -¥43.06 million in the same period last year[33] - The net cash flow from financing activities increased by 348.87% to ¥59,312.47 million, primarily due to increased long-term borrowings and reduced debt repayments[12] - The net cash flow from financing activities was positive at approximately ¥593.12 million, compared to a negative cash flow of -¥238.33 million in Q3 2021[33] Equity and Earnings - The weighted average return on net assets was 3.15%, a slight increase of 0.27% compared to the previous quarter[5] - The basic earnings per share for the quarter was ¥0.1468, an increase of 16.32% year-on-year[5] - The company's retained earnings rose to ¥2,053,592,063.84 from ¥1,754,973,069.23, reflecting a year-over-year increase of 17.0%[25] - The basic and diluted earnings per share for Q3 2022 were both ¥0.3341, up from ¥0.1851 in the same period last year, representing an increase of 80.3%[29] Investments and Expenses - The company made a significant investment of ¥80 million in a private equity fund related to Shenzhen Bailu Green Energy Technology[9] - The company is expanding its high-end cable industrialization project and polymer ultra-high pressure phase II project, with construction in progress increasing by 64.60%[9] - Research and development expenses increased by 32.30% to ¥43,102.34 million, reflecting the company's commitment to product technology updates and enhancements[12] - Research and development expenses for the quarter were ¥431,023,370.14, up from ¥325,788,362.89, indicating a focus on innovation and development[26] - Long-term deferred expenses increased by 43.80% to ¥1,905.11 million due to higher factory renovation costs[12] - Contract liabilities rose by 33.07% to ¥15,045.32 million, primarily due to an increase in advance payments for goods within one year[12] - Other payables rose by 63.03% to ¥21,356.82 million, mainly due to increased inter-company transactions and collections[12] - The company's income tax expense increased by 169.21% to ¥2,689.78 million, corresponding to higher profits reported[12] - Investment income surged by 759.00% to ¥1,215.48 million, mainly due to increased delivery income from ineffective copper hedging[12]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥7,151,664,883.71, representing a 27.47% increase compared to ¥5,610,281,161.80 in the same period last year[29]. - Net profit attributable to shareholders was ¥188,219,953.31, a significant increase of 205.68% from ¥61,573,357.97 in the previous year[29]. - The net profit after deducting non-recurring gains and losses reached ¥161,539,157.88, up 236.71% from ¥47,975,828.23 year-on-year[29]. - The basic earnings per share increased to ¥0.1873, reflecting a growth of 192.66% compared to ¥0.0640 in the same period last year[29]. - The company's overall profitability improved significantly, driven by effective market expansion and cost management strategies[44]. - The company reported a net profit from investment of ¥6,118,807.94, contributing 2.91% to total profit[63]. - The company's total profit amounted to ¥210,442,662.20, compared to ¥66,801,032.86, representing an increase of approximately 214.5%[199]. Revenue Breakdown - Revenue from power cable products increased by 26%, while high polymer materials and communication products saw growth of 32% and 36% respectively[45]. - International revenue grew steadily, with product export value increasing by 58% year-on-year[45]. - The East China region generated ¥4,150,538,444.46 in revenue, representing 58.04% of total revenue and a significant increase of 56.67%[62]. - Revenue from electric power products amounted to ¥4,047,889,153.47, accounting for 56.60% of total revenue, with a growth of 26.32% year-on-year[62]. Assets and Liabilities - The total assets at the end of the reporting period were ¥11,739,572,536.85, a 2.79% increase from ¥11,420,863,373.28 at the end of the previous year[29]. - The net assets attributable to shareholders amounted to ¥4,598,872,417.17, showing a 1.33% increase from ¥4,538,677,678.59 at the end of the previous year[29]. - Total liabilities increased to ¥7,123.93 million from ¥6,866.26 million, reflecting a rise in long-term borrowings[190]. - The company's long-term borrowings increased by 173.33% to ¥1,284,617,999.83, reflecting an optimization of the financing structure[59]. Cash Flow - The net cash flow from operating activities was negative at -¥1,692,135,650.40, a decline of 926.25% compared to a positive cash flow of ¥204,795,956.72 in the same period last year[29]. - The company reported a significant increase in accounts receivable, rising to ¥4,510.86 million from ¥3,453.38 million year-on-year[184]. - Cash and cash equivalents decreased by 8.10% to ¥1,672,881,915.69, primarily due to increased cash payments for procurement and maturing bills[65]. Research and Development - The company's R&D investment rose to ¥256,663,378.98, a 40.42% increase from ¥182,782,622.18, driven by efforts to promote product technology updates and improvements[57]. - The company received a total of 49 new patent authorizations, including 8 invention patents, and participated in the formulation of 12 national and industry standards[49]. Risk Management - The company is facing potential risks, which are discussed in detail in the management analysis section of the report[6]. - The company has established a complete risk control system for its hedging business, ensuring effective management of market, liquidity, credit, operational, and legal risks[82]. - The company employs strategies such as pricing mechanisms and hedging to manage risks associated with fluctuations in raw material prices, particularly copper[98]. Corporate Governance - The company did not distribute cash dividends or issue new shares during the reporting period[108]. - There were no significant legal disputes or major lawsuits reported during the period[123]. - The company has not engaged in any major related party transactions during the reporting period[131]. Environmental Initiatives - The company has implemented measures to reduce carbon emissions, including the installation of rooftop solar panels[113]. - The company was recognized as a "green low-carbon factory" by the local government, aligning with national carbon neutrality strategies[50].

Financial Performance - The company's operating revenue for Q1 2022 was ¥3,128,120,896.59, representing a 36.13% increase compared to ¥2,297,826,363.82 in the same period last year[5] - The net profit attributable to shareholders was ¥40,595,112.17, a significant turnaround from a loss of ¥40,741,043.08, marking a 199.64% improvement[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥28,346,598.78, compared to a loss of ¥54,671,768.86, reflecting a 151.85% increase[5] - Basic earnings per share were ¥0.0404, a recovery from a loss of ¥0.0409 per share, indicating a 198.78% increase[5] - Operating profit for the quarter was ¥46,161,161.79, a turnaround from a loss of ¥40,884,251.82 in the previous year[26] - The company reported a net profit of ¥46,161,161.79, compared to a net loss in the same quarter last year[26] - The net profit for the current period is 40,424,081.52, compared to a net loss of -40,634,594.53 in the previous period[29] - The total comprehensive income attributable to the parent company's owners is 51,344,522.51, compared to -10,929,875.44 in the previous period[29] - The basic and diluted earnings per share for the current period are both 0.0404, compared to -0.0409 in the previous period[29] Cash Flow - The company's cash flow from operating activities showed a net outflow of ¥1,445,920,045.46, worsening by 147.04% from a net outflow of ¥585,292,794.21 in the previous year[5] - Cash inflow from operating activities totaled 2,227,983,749.66, an increase from 2,000,843,960.55 in the previous period[32] - Cash outflow from operating activities amounted to 3,673,903,795.12, compared to 2,586,136,754.76 in the previous period[32] - The net cash flow from operating activities is -1,445,920,045.46, worsening from -585,292,794.21 in the previous period[32] - The net cash flow from investing activities is -200,633,268.59, compared to -134,442,855.65 in the previous period[32] - The net cash flow from financing activities surged to ¥105,384,520.00, a 1605.06% increase from ¥6,180,680.00, attributed to new long-term borrowings and reduced debt repayments[11] - The net cash flow from financing activities is 1,053,845,248.38, significantly higher than 61,806,835.15 in the previous period[35] - The ending cash and cash equivalents balance is 971,009,362.01, up from 470,040,435.51 in the previous period[35] Assets and Liabilities - The total assets at the end of the reporting period were ¥10,965,048,044.15, down 3.99% from ¥11,420,863,373.28 at the end of the previous year[5] - The company's total current assets amount to 8,397,445,120.05 RMB, a decrease from 8,967,283,478.40 RMB in the previous period[19] - The total assets of the company are 10,965,048,044.15 RMB, down from 11,420,863,373.28 RMB in the previous period[19] - The company's cash and cash equivalents stand at 1,587,294,839.86 RMB[19] - Accounts receivable amount to 3,970,708,463.96 RMB, indicating a significant asset position[19] - Inventory is reported at 1,047,938,824.00 RMB, an increase from 995,780,095.93 RMB in the previous period[19] - The total non-current assets are 2,567,602,924.10 RMB, up from 2,453,579,894.88 RMB previously[19] - Short-term borrowings are recorded at 246,349,852.62 RMB, a decrease from 260,580,086.69 RMB in the previous period[19] - The company's total liabilities increased, with long-term borrowings rising by 90.83% to ¥89,687,990.00, reflecting a strategy to optimize financing structure[9] - Total liabilities decreased to ¥6,358,719,201.58 from ¥6,866,259,213.22, reflecting a reduction of approximately 7.4%[26] - Total equity attributable to shareholders increased to ¥4,590,173,391.75, up from ¥4,538,677,678.59, indicating a growth of 1.1%[25] - Minority interests increased slightly to ¥16,155,450.82 from ¥15,926,481.47, showing a growth of 1.4%[25] Research and Development - Research and development expenses rose to ¥10,148,630.00, a 60.92% increase from ¥6,306,490.00, driven by enhanced investment in product technology updates[11] - Research and development expenses increased to ¥101,486,329.87, representing a 60.7% rise from ¥63,064,888.36 year-over-year[26] Shareholder Information - The total number of common shareholders at the end of the reporting period is 83,340, with the top 10 shareholders holding 2.93% of the total share capital[13] - Qingdao West Coast New Area Ocean Holding Group Co., Ltd. holds 25.01% of shares, amounting to 258,975,823 shares, with 129,487,911 shares pledged[15] - Zhejiang Wanma Intelligent Technology Group Co., Ltd. holds 9.53% of shares, totaling 98,680,931 shares[15]

Financial Performance - The company reported a total revenue of RMB 1,200 million for the year 2021, representing a year-on-year increase of 15%[23] - The net profit attributable to shareholders was RMB 150 million, which is a 10% increase compared to the previous year[23] - The company's operating revenue for 2021 was ¥12,767,477,330.95, representing a 36.96% increase compared to ¥9,321,789,268.60 in 2020[31] - The net profit attributable to shareholders for 2021 was ¥271,206,596.57, up 21.59% from ¥223,052,864.45 in 2020[31] - The total revenue for the year 2021 reached CNY 12,669,597,098.79, representing a year-on-year increase of 37.32%[85] - The company reported a total revenue of approximately ¥12.77 billion in 2021, representing a year-on-year increase of 36.96%[83] - In 2021, the company achieved a revenue of 12.767 billion CNY, a year-on-year increase of 36.96%, and a net profit attributable to shareholders of 271 million CNY, up 21.59% from the previous year[66] Dividend and Payouts - The company plans to distribute a cash dividend of RMB 0.37 per 10 shares, amounting to a total payout of approximately RMB 37 million[6] User Growth and Market Expansion - User data indicates a growth in customer base by 20%, reaching a total of 500,000 active users by the end of 2021[23] - The company is focusing on expanding its market presence in Southeast Asia, with a target to increase revenue from this region by 25% in 2022[23] - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[190] Product Development and Innovation - New product development includes the launch of a high-performance cable line, expected to contribute an additional RMB 100 million in revenue in 2022[23] - The company has developed 93 key products in the industrial intelligent equipment cable sector, with an additional 202 products in the laboratory verification stage[52] - The company’s self-developed "high-pressure cable (110kV) ultra-clean XLPE insulation material" is the first of its kind in China, breaking international monopolies and filling domestic gaps[54] - The company launched 12 new products that passed provincial industrial new product identification, indicating robust innovation efforts[60] - The company completed the development of a high-performance, low-smoke, halogen-free polyethylene cable material, enhancing its high-voltage solutions[110] Research and Development - The company has invested RMB 50 million in R&D for new technologies aimed at enhancing product efficiency and sustainability[23] - Research and development expenses increased by 36.42% to ¥473,142,485.08, driven by investments in cable products and polymer materials[102] - The number of R&D personnel increased by 5.75% to 864, with a notable rise in the number of bachelor's degree holders by 34.81%[110] - Research and development investments have increased by 25%, focusing on innovative technologies in the electrical industry[190] Financial Strategy and Investments - The management has set a revenue guidance of RMB 1,500 million for 2022, reflecting a growth target of 25%[23] - The company plans to utilize various financing methods, including bank debt and bond financing, to meet its capital expenditure needs while optimizing its debt structure and improving cash flow[162] - The company completed the repurchase of 30,330,762 shares, accounting for 2.93% of the total share capital, with a total expenditure of nearly ¥200 million[79] - The company successfully issued corporate bonds amounting to ¥400 million with a coupon rate of 4.30%[80] Market Trends and Industry Insights - The cable industry in China had a market capacity of approximately ¥1,400 billion in 2021, growing about 7% year-on-year[45] - The demand for power cables and electrical equipment cables combined accounted for around ¥690 billion, approximately 50% of the total industry scale[45] - The market for special cables is anticipated to grow significantly, with sales revenue in China's special cable market expected to reach approximately CNY 700 billion by 2023[154] - The domestic market for high-end cable materials is currently dominated by foreign companies, with domestic high-voltage cable insulation materials holding only about 15% market share, indicating a strong need for self-sufficiency[155] Risk Management - Risk factors identified include fluctuations in raw material prices and potential regulatory changes impacting operations[6] - The company has implemented measures to mitigate risks from raw material price fluctuations, including pricing mechanisms and long-term contracts with suppliers[167] - High accounts receivable levels pose a financial risk, prompting the company to enhance contract management and strengthen financial oversight[168] Corporate Governance - The company has established a comprehensive risk control system for its derivative investments, focusing on market, liquidity, credit, operational, and legal risks[128] - The independent directors have expressed their approval of the company's derivative investment activities, confirming that they do not harm the interests of the company and its shareholders[129] - The company maintains a complete and independent operational system, ensuring no competition or unfair transactions with controlling shareholders[179] Strategic Partnerships and Collaborations - The company is exploring partnerships with international firms to leverage new technologies and expand its global footprint[190] - The company is actively pursuing strategic partnerships in the "solar-storage-charging" sector to enhance its renewable energy capabilities[75] Operational Efficiency - The company plans to enhance its supply chain efficiency, aiming for a 15% reduction in operational costs by the end of 2022[190] - The operation and maintenance system has been launched, enhancing operational efficiency and customer satisfaction for self-operated and franchise stations[103]

Financial Performance - The company's operating revenue for the third quarter reached ¥3,694,530,748.74, an increase of 33.28% compared to the same period last year[3] - Net profit attributable to shareholders was ¥126,875,799.83, reflecting a growth of 3.80% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥115,022,913.43, up 63.05% from the previous year[3] - The company's basic earnings per share for the quarter was ¥0.1262, a rise of 6.95% compared to the same period last year[3] - Net profit for the current period reached ¥190,640,598.98, an increase from ¥175,228,195.36 in the previous period, representing a growth of approximately 8.1%[23] - The total profit before tax was ¥200,631,750.49, compared to ¥197,310,525.71 in the previous period, reflecting a slight increase of about 1.6%[23] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥10,795,102,909.15, representing a 29.41% increase from the end of the previous year[3] - Total assets reached ¥10,795,102,909.15, up from ¥8,341,953,129.96, reflecting a growth of 29.46%[20] - Total liabilities increased to ¥6,317,728,103.48 from ¥3,815,558,043.41, a rise of 65.66%[20] - The total current liabilities were reported at ¥3,400,428,894.61, consistent with previous figures[30] - The company’s total non-current liabilities increased to ¥466,452,751.92, reflecting the impact of the new leasing standards[32] Cash Flow - Cash flow from operating activities for the year-to-date was ¥494,380,523.17, an increase of 12.35% year-on-year[3] - The company reported a net cash flow from operating activities of ¥494,380,523.17, up from ¥440,027,985.04 in the previous period, reflecting a growth of approximately 12.3%[25] - Cash flow from investing activities improved by 59.42%, resulting in a net cash outflow of CNY -4,305.51 million[8] - Cash flow from investing activities showed a net outflow of -¥43,055,080.34, an improvement from -¥106,105,922.39 in the previous period[25] Research and Development - R&D expenses increased by 31.18% to CNY 32,578.84 million, reflecting a rise in ongoing research projects[8] - Research and development expenses were reported at ¥325,788,362.89, up from ¥248,359,467.31, indicating a growth of 31.19%[21] - The company reported a 54.75% decrease in income tax expenses to CNY 999.12 million, due to increased R&D tax deductions[8] Shareholder Information - The number of ordinary shareholders reached 86,021, with the largest shareholder holding 25.01% of shares[9] - The company reported a total of ¥1,035,489,098.00 in share capital as of January 1, 2021[32] Market and Expansion - The company plans to expand its market presence and invest in new product development to drive future growth[21] - The company is expanding its high-end cable production projects, contributing to a 214.53% increase in construction in progress[6] Other Financial Metrics - The weighted average return on net assets was 2.88%, a slight increase of 0.09% compared to the previous year[3] - The company incurred credit impairment losses of ¥55,672,728.76, which is an increase from ¥51,352,894.58 in the previous period[23] - The total comprehensive income for the current period was ¥176,332,605.09, down from ¥216,086,707.37 in the previous period, showing a decrease of about 18.4%[23] - The company reported a significant increase in prepayments, which rose by 134.54% due to increased material procurement and equipment construction prepayments[6] - Minority interests increased significantly by 346.22% to CNY 1,546.11 million, attributed to the establishment of a new subsidiary[8]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 5,610,281,161.80, representing a 44.83% increase compared to CNY 3,873,795,167.04 in the same period last year[27]. - Net profit attributable to shareholders was CNY 61,573,357.97, up 20.89% from CNY 50,932,192.20 in the previous year[27]. - The net cash flow from operating activities increased by 196.54%, reaching CNY 204,795,956.72 compared to CNY 69,061,756.18 in the same period last year[27]. - Basic earnings per share rose to CNY 0.0640, a 30.08% increase from CNY 0.0492 in the previous year[27]. - Total assets at the end of the reporting period were CNY 9,399,757,720.36, reflecting a 12.68% increase from CNY 8,341,953,129.96 at the end of the previous year[27]. - The net assets attributable to shareholders decreased by 3.93%, amounting to CNY 4,345,194,713.48 compared to CNY 4,522,930,198.46 at the end of the previous year[27]. - The weighted average return on net assets was 1.38%, an increase of 0.20% from 1.18% in the previous year[27]. - The net profit after deducting non-recurring gains and losses was CNY 47,975,828.23, up 29.39% from CNY 37,077,780.86 in the previous year[27]. Cash Flow and Investments - The net increase in cash and cash equivalents was -¥257,060,082.73, a decrease of 58.35% from -¥162,335,916.51, primarily due to share repurchases and reduced financing net amounts[63]. - The company reported a significant reduction in income tax expenses by 48.48%, amounting to ¥4,431,469.04, due to an increase in the proportion of R&D deductions[61]. - The company reported a total guarantee amount of 68,600,000 RMB during the reporting period, with an actual guarantee amount of 37,449,000 RMB, representing 8.62% of the company's net assets[126]. - The company has entrusted financial management with a total amount of 53,180,000 RMB, with an outstanding balance of 1,000,000 RMB[128]. Market and Product Development - The company is a leading domestic manufacturer of communication cables and has established a comprehensive cable production monitoring system to ensure product quality[37]. - The company has developed a product line for charging equipment ranging from 7kW to 480kW, including a 480kW intelligent flexible charging pile capable of charging 12 electric vehicles simultaneously[43]. - The company has successfully entered the high-end materials market, with its self-developed "high-pressure cable (110kV) ultra-clean XLPE insulation material" breaking international monopolies and receiving national recognition[40]. - The company is positioned to benefit from the growth of the new energy vehicle market, which is expected to drive demand for charging stations and related fields[44]. - The company has established a strong presence in the new materials sector, with its low-smoke halogen-free and special PVC materials entering high-end markets such as communications and aerospace[40]. - The company has identified opportunities in the cable, new materials, and new energy industries, driven by national policies aimed at carbon neutrality and infrastructure upgrades[44]. Risks and Challenges - The company faced various risk factors, which are discussed in detail in the management analysis section of the report[6]. - The company faces risks from raw material price fluctuations, particularly copper, which directly impacts operating performance[87]. - High accounts receivable balances pose financial risks, with measures in place to enhance collection efforts[88]. - The ongoing pandemic and international uncertainties present additional risks to the company's operations[90]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[7]. - The company completed a share repurchase plan, buying back over 30.33 million shares, accounting for 2.93% of total shares, with a total expenditure of nearly 200 million yuan[56]. - The total number of common shareholders at the end of the reporting period is 89,627[146]. - The largest shareholder, Qingdao West Coast New Area Ocean Holding Group Co., Ltd., holds 25.01% of shares, totaling 258,975,823 shares[149]. - The second largest shareholder, Zhejiang Wanma Intelligent Technology Group Co., Ltd., holds 11.53% of shares, totaling 119,390,731 shares[149]. Research and Development - Research and development expenses increased by 25.95% to ¥182,782,622.18, compared to ¥145,127,576.11 in the previous year, due to an increase in R&D projects[61]. - The establishment of an innovation development research institute aims to promote collaborative innovation across business segments[59]. Operational Performance - The cable segment achieved a 43% year-on-year increase in power cable shipments, with fire-resistant cables growing by 55%[48]. - The new materials segment reported a 45% year-on-year increase in revenue, but net profit decreased by 29% due to rising raw material prices[51]. - The company's new energy segment saw a 215% year-on-year increase in charging pile sales and a 64% increase in self-operated charging volume[55]. - The company plans to continue optimizing production capacity and enhancing product competitiveness in the new energy sector[55].

Financial Performance - The company's operating revenue for Q1 2021 was ¥2,297,826,363.82, representing a 79.47% increase compared to ¥1,280,366,181.07 in the same period last year[10] - The net profit attributable to shareholders of the listed company was -¥40,741,043.08, an improvement of 54.80% from -¥90,129,795.54 year-on-year[10] - The basic earnings per share for the period was -¥0.0409, showing a 52.99% improvement from -¥0.0870 in the same period last year[10] - The net profit for Q1 2021 was a loss of CNY 40,634,594.53, an improvement compared to a loss of CNY 90,832,175.20 in Q1 2020, reflecting a reduction in losses of approximately 55.2%[87] - The company reported a gross profit margin of approximately 11.5% for Q1 2021, compared to a gross profit margin of 10.5% in the same quarter last year[87] Cash Flow and Liquidity - The net cash flow from operating activities was -¥585,292,794.21, a significant decline of 253.40% compared to -¥165,618,857.14 in the previous year[10] - The company's cash and cash equivalents decreased by 44.57% to CNY 83,962.07 million, mainly due to increased payments for bank acceptances[21] - Cash flow from operating activities showed a net outflow of CNY -585,292,794.21, worsening from CNY -165,618,857.14 in the previous period[95] - Total cash and cash equivalents at the end of the period decreased to ¥186,367,464.67 from ¥254,362,896.82, reflecting a decline of about 27%[99] Assets and Liabilities - The total assets at the end of the reporting period were ¥7,990,125,084.93, down 4.22% from ¥8,341,953,129.96 at the end of the previous year[10] - The total liabilities as of Q1 2021 amounted to CNY 2,699,001,412.83, slightly down from CNY 2,716,608,960.02 in the previous year[84] - Total liabilities decreased to CNY 3,583,591,652.87 from CNY 3,815,558,043.41, a decline of approximately 6.07%[58] - Total equity decreased to CNY 4,406,533,432.06 from CNY 4,526,395,086.55, reflecting a decrease of about 2.65%[73] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 89,023[13] - The largest shareholder, Qingdao West Coast New Area Marine Holdings Group Co., Ltd., held 25.01% of the shares[13] Investment and R&D - Research and development expenses increased to CNY 63,064,888.36 from CNY 49,997,112.97, marking a rise of about 26.0% year-over-year[87] - The company reported a significant long-term equity investment of CNY 1,794,402,446.61, indicating strong investment strategies[104] Risk Management and Governance - The company has established a comprehensive risk control system for copper futures hedging, with a maximum investment of 180 million, effectively managing legal, credit, operational, and cash flow risks[31] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period, indicating good governance practices[37] Other Financial Metrics - The company reported non-operating income of ¥12,707,628.20 from government subsidies closely related to business[10] - The company’s investment income improved significantly, reaching CNY 119.06 million, a 113.67% increase from the previous period[21] - The company has effectively utilized hedging strategies to mitigate risks associated with commodity price fluctuations, enhancing operational stability[31]

Financial Performance - The company reported a total revenue of approximately 2.37595 billion RMB for the year, reflecting a significant increase compared to the previous year[21]. - The company's operating revenue for 2020 was ¥9,321,789,268.60, a decrease of 4.35% compared to 2019[23]. - In 2020, the company achieved operating revenue of 9.322 billion yuan, a decrease of 4.35% year-on-year, while net profit attributable to shareholders slightly increased to 223 million yuan[61]. - The net profit attributable to shareholders for 2020 was ¥223,052,864.45, reflecting a slight increase of 0.98% from the previous year[23]. - The company achieved a net profit attributable to shareholders of RMB 223,052,864.45 for the year 2020, after deducting statutory surplus reserves of RMB 44,459,034.46 and paying ordinary share dividends of RMB 36,242,118.43[180]. - The total distributable profit for 2020 was RMB 1,543,087,541.16 after accounting for the legal surplus reserve and dividends payable[185]. - The cash dividend for 2019 represented 16.41% of the net profit attributable to shareholders, while the 2020 cash dividend represented 15.97%[184]. Dividend Distribution - The company plans to distribute a cash dividend of 0.35 RMB per share (including tax) to all shareholders, based on the total share capital after deducting repurchased shares[5]. - The proposed cash dividend distribution is RMB 0.35 per 10 shares (including tax), with no bonus shares or capital reserve conversion into shares[180]. - The company has committed to distributing at least 15% of the annual distributable profit in cash dividends, with a cumulative distribution of no less than 45% of the average annual distributable profit over three years[188]. - The total number of shares for the cash dividend distribution in 2020 was based on 1,017,648,063 shares[185]. - The company has not issued any bonus shares or converted reserves into share capital in the recent profit distribution plans[181]. Corporate Governance - The company has committed to ensuring the accuracy and completeness of its financial reports, with key executives affirming their responsibility for the financial statements[4]. - The company has engaged Xinyong Zhonghe Accounting Firm for auditing services, ensuring compliance and transparency in its financial reporting[22]. - The company has established a robust governance structure, with all board members present for the approval of the annual report[5]. - The domestic accounting firm engaged is Xinyong Zhonghe, with an audit fee of 1.35 million yuan and a continuous service period of 15 years[193]. Market Strategy and Expansion - The company is focused on expanding its market presence and enhancing its product offerings in the cable and materials sector[21]. - The company aims to expand its market presence in high-end intelligent equipment cables and 5G indoor wiring optical cables[37]. - The company is committed to building a smart charging network centered on DC fast charging, aiming to expand its customer base in the energy management sector[156]. - The company plans to enhance production capacity through new factory construction and equipment upgrades, focusing on improving delivery speed and customer satisfaction in the wire and cable segment[155]. Research and Development - The company continues to invest in research and development to innovate new products and technologies in the cable industry[21]. - The company has a strong focus on R&D, with 500 valid intellectual property rights, including 39 invention patents and 362 utility model patents, enhancing its competitive edge in the industry[52]. - The number of R&D personnel increased to 817 in 2020, a growth of 6.24% compared to 769 in 2019[95]. - R&D investment amounted to ¥346,836,148.02 in 2020, a decrease of 4.75% from ¥364,143,468.70 in 2019[95]. Risk Management - The company is actively addressing potential risk factors as outlined in its annual report, demonstrating a proactive approach to risk management[5]. - The company faces operational risks due to significant fluctuations in copper prices, which directly impact its performance despite risk mitigation strategies in place[163]. - High accounts receivable balances pose financial risks, as any deterioration in customer credit status could adversely affect the company's operations and future solvency[164]. - The company has implemented measures to strengthen accounts receivable collection and control the amount of accounts receivable[166]. Investment and Financial Management - The company has established a complete risk control system for copper futures hedging, with a total investment in hedging not exceeding 180,000,000 CNY[118]. - The company reported a total of 3,228.3 million CNY in derivative investments, with a net asset value of 5,638.37 million CNY at the end of the reporting period[115]. - The company plans to utilize up to RMB 80 million of idle raised funds for cash management, with a rolling usage period of 12 months from the board's approval date[130]. - The company has temporarily supplemented working capital with RMB 200 million from idle raised funds, fully repaid by December 31, 2018[127]. Industry Outlook - The electric cable industry in China is expected to see continued demand growth, particularly for 35kV and below voltage level cables, driven by urbanization and green low-carbon strategies during the 14th Five-Year Plan[45]. - The "carbon peak and carbon neutrality" goals are expected to further increase the demand for power cables, driven by the ongoing development of clean energy sources like solar and wind[143]. - The market for special cable materials is expected to grow rapidly, driven by demand from sectors such as wind power, nuclear energy, and high-speed rail[146]. Subsidiary Performance - The subsidiary Zhejiang Wanma Tianyi Communication Cable Co., Ltd. reported a 36.12% increase in revenue and a 101.65% increase in net profit, attributed to increased foreign market demand and higher sales of optical cables and data cables[138]. - The subsidiary Zhejiang Wanma Cable Co., Ltd. experienced a 192.73% increase in total assets and a 3477.76% increase in net assets, primarily due to capital injections during the reporting period[138]. - The subsidiary Zhejiang Wanma Special Cable Technology Co., Ltd. reported a net asset growth of 80.17%, driven by profit growth and fair value gains on futures copper contracts[138].

Financial Performance - Operating revenue for the period was ¥2,771,990,184.12, reflecting an increase of 11.73% year-on-year[11]. - Net profit attributable to shareholders was ¥122,227,569.87, a significant increase of 69.07% compared to the same period last year[11]. - The net profit after deducting non-recurring gains and losses was ¥70,545,749.19, up by 6.76% year-on-year[11]. - Basic earnings per share were ¥0.1180, representing a growth of 69.05% year-on-year[11]. - The total comprehensive income attributable to the parent company was ¥109,199,602.54, compared to ¥80,216,586.63 in the previous period, marking a rise of 36.1%[94]. - The net profit for the current period was ¥69,178,716.50, up from ¥31,575,999.82 in the previous period, representing a growth of 119.5%[97]. - The total profit for the current period was ¥72,357,954.44, up from ¥31,327,252.47, representing an increase of 130.9%[97]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥8,358,268,184.12, an increase of 10.01% compared to the end of the previous year[11]. - Current assets totaled CNY 6,524,070,442.80, up from CNY 5,861,201,635.49 at the end of 2019, indicating an increase of about 11.3%[43][48]. - Total liabilities reached CNY 3,923,137,483.50, up from CNY 3,319,034,132.23, which is an increase of about 18.2%[48]. - The company's equity attributable to shareholders was CNY 4,430,146,924.92, compared to CNY 4,249,377,827.93 at the end of 2019, showing an increase of approximately 4.3%[48]. - Total liabilities amounted to ¥2,980,174,962.85, a 28.2% increase from ¥2,326,169,101.77[70]. - The company's total non-current liabilities were CNY 169,464,513.16, which includes deferred income and deferred tax liabilities[123]. Cash Flow - The net cash flow from operating activities was ¥370,966,228.86, showing a remarkable increase of 342.08% compared to the same period last year[11]. - The net cash flow from financing activities decreased by 97.99% to -¥52,875.11 million, reflecting a reduction in net financing compared to the previous year[22]. - Cash inflow from financing activities was CNY 752,466,398.10, down 38.7% from CNY 1,226,710,859.10 in the previous period[110]. - The ending balance of cash and cash equivalents was CNY 732,498,415.77, down from CNY 752,033,851.73 in the previous period[110]. Investments and Income - Investment income surged by 1963.31% to ¥46,513.3 million, mainly due to the increase in the fair value of ineffective portions of futures hedging[22]. - The company reported an investment income of ¥43,767,413.89, significantly higher than ¥1,558,031.98 in the previous period, showing an increase of 2,711.5%[95]. - The company reported non-recurring gains totaling ¥65,536,232.02, primarily from government subsidies and investment income[11]. Shareholder Information - The total number of shareholders at the end of the reporting period was 101,409, with the top ten shareholders holding a combined 36.41% of shares[16]. - The company did not engage in any repurchase transactions among the top ten shareholders during the reporting period[18]. Risk Management - The company has established a complete risk control system for its hedging business, ensuring compliance and effective risk management[32]. - The company’s derivative investments are closely related to daily operational needs, adhering to the principle of prudence[32]. - The company’s hedging activities are expected to mitigate risks associated with commodity price fluctuations[32]. Changes in Accounting and Standards - The company has reclassified advance receipts to contract liabilities as per the new revenue recognition standards effective January 1, 2020[124]. - The company has implemented new revenue recognition standards starting January 1, 2020, affecting the reporting of contract liabilities[131].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥3,873,795,167.04, a decrease of 17.52% compared to ¥4,696,816,646.28 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was ¥50,932,192.20, down 47.99% from ¥97,931,766.64 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥37,077,780.86, a decline of 53.64% compared to ¥79,981,157.98 last year[23]. - The net cash flow from operating activities was ¥69,061,756.18, representing an 81.52% decrease from ¥373,743,192.83 in the same period last year[23]. - Basic earnings per share were ¥0.0492, down 47.99% from ¥0.0946 in the previous year[23]. - In the first half of 2020, the company's revenue decreased by 17.52% year-on-year to approximately ¥3.87 billion, while net profit fell by 47.99%[51]. - The overall operating costs decreased by 18.75% year-on-year to approximately ¥3.21 billion, reflecting reduced shipment volumes[51]. - The company reported a total comprehensive income of CNY 107,474,043.14 for the first half of 2020, compared to CNY 96,468,280.97 in the same period last year, an increase of 11.5%[191]. - The company reported a total comprehensive income of CNY 180,633,517.24, compared to CNY 47,453,467.19 in the same period last year, reflecting an increase of about 279.5%[195]. Assets and Liabilities - Total assets at the end of the reporting period were ¥7,966,316,187.17, an increase of 4.85% from ¥7,597,902,190.35 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company were ¥4,319,341,656.10, up 1.65% from ¥4,249,377,827.93 at the end of the previous year[23]. - Total liabilities reached ¥3,636,218,150.78, up from ¥3,319,034,132.23, representing an increase of about 9.57%[182]. - The company's total liabilities increased to CNY 2,696,434,809.99 in the first half of 2020, compared to CNY 2,326,169,101.77 in the same period last year, representing a growth of 15.9%[190]. - The company's cash and cash equivalents decreased by 2.34% to ¥1,075,724,630.85, reflecting increased operational funding and margin deposits[59]. - The company's cash and cash equivalents as of June 30, 2020, were approximately 1.08 billion yuan, down from 1.17 billion yuan at the end of 2019[177]. Investments and Acquisitions - The company acquired a 91.05% stake in Zhejiang Wanma Special Cable Technology Co., Ltd. for ¥2,710,000.00[66]. - The company made a capital increase of ¥50,000,000.00 in Zhejiang Wanma Cable Co., Ltd., achieving a 100% ownership[66]. - The company invested ¥17,291,946.44 to acquire 100% of Zhejiang Wanma New Energy Co., Ltd.[68]. - The company has signed contracts to purchase approximately 150 acres of land in the Changxing area for 52.37 million yuan to support the development of its new materials segment[140]. - The company has also signed contracts to acquire about 100 acres of land in Lin'an for 39.55 million yuan to establish a smart manufacturing industrial park[141]. - The company plans to invest 4 million USD in its subsidiary WANMA CABLE (VIETNAM) COMPANY LIMITED to expand its overseas market share in response to US-China trade tensions[142]. Research and Development - The company's R&D investment was approximately ¥145.13 million, a decrease of 3.35% compared to the previous year, attributed to reduced material costs[51]. - Research and development expenses for the first half of 2020 were CNY 145,127,576.11, slightly down from CNY 150,152,164.28 in the first half of 2019, a decrease of 3.4%[190]. Market and Product Development - The company aims to expand its product line in the communication cable sector, focusing on high-end industrial control cables and 5G indoor wiring optical cables[33]. - The company has developed a complete range of charging equipment from 7kW to 360kW, including a 480kW intelligent flexible distribution charging pile[36]. - The company aims to enhance its competitive edge in the charging pile market by optimizing its supply chain and adjusting its sales strategies[47]. - The new materials segment achieved sales revenue of ¥1.236 billion, with a gross margin increase of 1.40% year-on-year, despite the pandemic's impact[42]. - The cable segment established strategic partnerships with major clients, resulting in significant order growth and steady revenue from distribution channels[46]. Challenges and Risks - The company faced significant challenges in cash flow and profitability during the first half of 2020, indicating a need for strategic adjustments[23]. - The company faces risks from raw material price fluctuations, particularly copper, which directly impacts operational performance[97]. - High accounts receivable balances pose financial risks, as they constitute a significant portion of current assets[100]. - The ongoing global COVID-19 pandemic presents risks of decreased demand and supply chain disruptions[102]. - The company operates in industries influenced by national macro policies, which can present both opportunities and risks[96]. Shareholder Information - The total number of shares before the recent changes was 1,035,489,098, with 1,410,725 shares reduced from limited conditions, resulting in a new total of 1,035,275,348 shares[148]. - The company has released 213,750 shares from lock-up conditions for directors and executives, with the remaining limited shares totaling 1,624,475[150]. - Total number of common shareholders at the end of the reporting period was 115,064[151]. - Zhejiang Wanma Intelligent Technology Group Co., Ltd. holds 25.41% of shares, totaling 263,141,812 shares[157]. - Zhang Desheng, a natural person, holds 6.13% of shares, totaling 63,450,322 shares[157]. - Lu Zhenyu, a natural person, holds 5.00% of shares, totaling 51,774,420 shares[157]. Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[8]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[106].