Financial Performance - The company's operating revenue for 2021 was ¥2,333,181,209.67, representing a 6.88% increase compared to ¥2,182,895,355.92 in 2020[22]. - The net profit attributable to shareholders for 2021 was ¥108,522,656.91, a significant increase of 98.13% from ¥54,774,563.67 in 2020[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥72,391,619.66, up 59.83% from ¥45,293,587.80 in 2020[22]. - The net cash flow from operating activities for 2021 was ¥120,773,672.26, an increase of 8.45% compared to ¥111,365,786.06 in 2020[22]. - The basic earnings per share for 2021 was ¥0.2001, reflecting a 95.60% increase from ¥0.1023 in 2020[22]. - The total assets at the end of 2021 were ¥3,452,723,120.48, a 4.08% increase from ¥3,317,373,546.47 at the end of 2020[22]. - The net assets attributable to shareholders at the end of 2021 were ¥1,932,650,752.10, up 3.71% from ¥1,863,426,781.77 at the end of 2020[22]. - The weighted average return on net assets for 2021 was 5.72%, an increase from 3.01% in 2020[22]. - The gross profit margin was 20.96%, a decrease of 0.91 percentage points compared to the previous year[53]. - The company reported a significant increase in overseas sales, with a gross profit margin of 47.48% for international operations[62]. Dividend Policy - The company plans to distribute a cash dividend of 0.10 yuan per 10 shares (including tax) to all shareholders[5]. - The cash dividend for 2021 is proposed at CNY 0.10 per 10 shares, with a total cash dividend amount of CNY 5.37 million, and an additional CNY 19.99 million through other means, totaling CNY 25.36 million[190]. - The total distributable profit for the year is CNY 373.53 million, with the total cash dividend (including other means) accounting for 100% of the profit distribution[190]. - The cash dividend policy mandates a minimum distribution of 10% of the available profit for the year, with a cumulative distribution of at least 30% over the last three years[181]. - The company aims for a cash dividend ratio of at least 80% for mature companies without significant capital expenditure plans[182]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and development strategies[5]. - The report includes a section on risk factors and countermeasures for future development[5]. - The company has established a risk management system for derivative transactions, ensuring that the scale of hedging aligns with actual production needs[97]. - The independent directors believe that the hedging activities are necessary to mitigate market risks associated with raw material price fluctuations[97]. - The company has implemented measures to control risks associated with market volatility and liquidity in futures trading[96]. Governance and Compliance - The financial report is guaranteed to be true, accurate, and complete by the company's management[4]. - The report outlines the company's governance structure and responsibilities[4]. - All directors attended the board meeting to review the report[5]. - The company has a structured board of directors with independent members, ensuring compliance with governance standards[126]. - The company has implemented a robust internal audit system to enhance operational compliance and protect shareholder interests[132]. Market Strategy and Expansion - The company is focused on developing new technologies and expanding its market presence[13]. - The company aims to expand its market presence in the renewable energy sector, driven by the national "dual carbon" strategy and the push for carbon neutrality in the power industry[36]. - The company plans to leverage the investment plans of State Grid and Southern Power Grid, which are projected to invest approximately ¥670 billion and ¥320 billion respectively during the 14th Five-Year Plan period[35][36]. - The company is actively exploring new energy business opportunities, including distributed photovoltaic power stations and integrated energy services[43]. - The company is pursuing new business opportunities in renewable and integrated energy sectors through acquisitions and partnerships, with an emphasis on risk management[115]. Research and Development - The company is developing a new series of distributed DTU products to replace the previous generation, aiming for a cost reduction of over 10%[74]. - The company plans to expand its product line in the renewable energy sector, including the development of a low-voltage photovoltaic micro-inverter[75]. - R&D expenses were ¥87,727,190.72, down 6.82% from the previous year[73]. - Total R&D investment amounted to ¥104,164,330.79, a decrease of 4.52% year-on-year[75]. - The company has obtained 48 new intellectual property rights during the reporting period, including 2 invention patents and 21 utility model patents[57]. Employee and Management Structure - The total number of employees at the end of the reporting period was 1,761, with 887 in the parent company and 874 in major subsidiaries[178]. - The professional composition includes 607 production personnel, 240 sales personnel, 505 technical personnel, and 148 management personnel[178]. - The company has established a competitive salary incentive system, continuously optimizing performance management and enhancing employee motivation[179]. - The training program for 2021 focused on enhancing employee skills and leadership capabilities, significantly improving work style and organizational atmosphere[180]. - The company has a total of 15 subsidiaries, including wholly-owned and controlling subsidiaries, indicating a strong market presence[162]. Strategic Acquisitions - The company signed a major acquisition agreement for Beijing Keri Green Energy Technology Co., with a purchase cost of ¥7,304,300.00, acquiring 100% equity[68]. - The company completed the acquisition of Beijing Kairui New Energy Technology Development Co., Ltd. with an investment of 100,000,000.00 CNY, holding a 100% stake[91]. - The company has appointed several independent directors, contributing to governance and oversight[166]. - The company is considering strategic acquisitions to enhance its service offerings, with a budget of 200 million allocated for potential deals[152]. Financial Health and Investments - The net cash flow from investment activities was -¥150,096,582.72, a significant decrease of 349.98% from -¥33,356,001.29 in the previous year, primarily due to payments for equity transfers and investments[77]. - The company has made a significant equity investment of CNY 135,000,000.00, acquiring a 13.50% stake in a new energy investment fund[90]. - The company has restricted cash of CNY 42,364,111.91, primarily due to guarantees for bank acceptance bills and futures margin[87]. - The total financial assets at the end of the period amounted to CNY 189,407,894.30, with a significant increase from the beginning of the period's CNY 103,169,649.01[85]. - The company reported a net profit increase of approximately 41.80 million yuan due to the fair value changes of its investment in Beijing Guoding Jun'an Tianxia Equity Investment Partnership[105].

Financial Performance - The company's operating revenue for Q3 2021 was ¥543,992,233.62, a decrease of 13.90% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2021 was ¥34,535,061.89, an increase of 0.34% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥1,972,571.96, a significant decrease of 94.24% compared to the previous year[2]. - Total revenue for Q3 2021 reached ¥1,451,524,887.72, a slight increase of 1.9% compared to ¥1,431,673,439.41 in Q3 2020[18]. - Net profit for Q3 2021 was ¥33,439,711.27, representing a 15.5% increase from ¥28,929,733.87 in Q3 2020[19]. - The total comprehensive income for the period attributable to the parent company was CNY 28,688,387.52, an increase from CNY 25,882,223.31 in the previous period, representing a growth of approximately 10.6%[20]. - Basic and diluted earnings per share for the period were both CNY 0.0535, compared to CNY 0.0477 in the previous period, reflecting an increase of 17.9%[20]. Cash Flow - The net cash flow from operating activities for the year-to-date was -¥154,267,962.17, a decline of 190.76%[2]. - Cash flow from operating activities decreased by 101.2114 million RMB, a reduction of 190.76%, mainly due to increased prepayments to suppliers for data center equipment[9]. - Cash inflows from operating activities totaled CNY 1,824,683,547.86, up from CNY 1,781,811,072.95, indicating a growth of 2.4%[22]. - The net cash flow from operating activities was negative CNY 154,267,962.17, worsening from negative CNY 53,056,598.29 in the previous period[23]. - Cash inflows from financing activities amounted to CNY 272,000,000.00, compared to CNY 198,000,000.00 in the previous period, marking an increase of 37.4%[23]. - The net cash flow from financing activities improved to CNY 61,522,056.34 from negative CNY 8,296,962.79 in the previous period[23]. - The ending cash and cash equivalents balance was CNY 257,114,376.94, down from CNY 313,367,596.87 in the previous period, a decrease of 17.9%[23]. - The company reported a total cash outflow from investing activities of CNY 35,379,320.81, slightly higher than CNY 33,336,841.77 in the previous period[23]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,431,222,107.96, an increase of 3.43% from the end of the previous year[2]. - Total assets as of September 30, 2021, amounted to ¥3,431,222,107.96, up from ¥3,317,373,546.47 at the end of 2020, reflecting a growth of 3.4%[16]. - Total liabilities increased to ¥1,379,819,281.24 from ¥1,249,322,990.76, representing a rise of 10.4%[16]. - Total liabilities reached $1,249,322,990.76, reflecting a decrease of $2,491,831.03 from the last reporting period[28]. - Current liabilities were $1,236,002,261.90, with a minor decrease of $306,817.17 from the previous period[27]. Investments and Expenses - The company received government subsidies amounting to ¥1,094,606.41 during the reporting period, primarily related to solar energy projects[4]. - Development expenses increased by 9.0394 million RMB, a growth of 71.26%, mainly due to R&D investments in ongoing projects during the reporting period[9]. - Research and development expenses for Q3 2021 were ¥65,034,334.44, compared to ¥56,960,911.53 in Q3 2020, indicating an increase of 14.5%[19]. - Long-term deferred expenses increased by 6.0904 million RMB, a growth of 47.71%, primarily for expenses related to obtaining product type test reports during the reporting period[9]. - Financial expenses decreased by 2.3287 million RMB, a reduction of 34.81%, mainly due to a decrease in average loan amounts leading to lower interest expenses[9]. Other Financial Metrics - The weighted average return on equity was 1.84%, a slight decrease of 0.07% compared to the previous year[2]. - The company’s goodwill remained constant at $46,694,952.19[27]. - Deferred tax assets were reported at $32,375,551.44, unchanged from the previous period[27]. - The company has adopted new leasing standards starting from 2021, which required adjustments to the financial statements[24]. - The company did not report any net profit from subsidiaries prior to consolidation during the current and previous periods[20]. - The third-quarter report was not audited, indicating preliminary figures[30].

Financial Performance - The company's operating revenue for the reporting period was ¥907,532,654.10, representing a 13.46% increase compared to ¥799,888,215.83 in the same period last year[21]. - The net profit attributable to shareholders was -¥5,546,674.37, an improvement of 35.01% from -¥8,535,018.09 year-on-year[21]. - The net cash flow from operating activities was -¥97,620,900.60, showing a 47.14% improvement from -¥184,690,376.24 in the previous year[21]. - The total assets at the end of the reporting period were ¥3,302,292,045.32, a decrease of 0.45% from ¥3,317,373,546.47 at the end of the previous year[21]. - The company's operating costs increased to ¥720,054,583.29, up 11.93% from ¥643,289,776.02 in the previous year[53]. - The company's basic and diluted earnings per share improved to -¥0.0102, a 41.38% increase from -¥0.0174 year-on-year[21]. - The company's total liabilities increased to ¥1,101,035,191.85 from ¥1,111,982,102.42, indicating a decrease of 0.8%[183]. - The company's total equity attributable to shareholders at the end of the reporting period was 1,969.2 million yuan, compared to 1,775.0 million yuan at the end of the previous period, reflecting an increase of approximately 10.9%[200]. Corporate Governance - The company’s legal representative is Fu Xiaodong, and the financial report is confirmed to be true, accurate, and complete by the responsible personnel[4]. - The company held its first temporary shareholders' meeting and the first meeting of the seventh board of directors on March 26, 2021, to approve changes in business scope and amendments to the articles of association[20]. - The company’s board of directors underwent a restructuring on March 26, 2021, with several appointments and dismissals[104]. - The company has established a management committee for the employee stock ownership plan, ensuring proper governance and oversight[110]. - The independent directors believe that the hedging business is necessary to mitigate market risks from raw material price fluctuations, ensuring overall risk is controllable[75]. Risk Management - The company emphasizes the importance of risk factors and their management strategies in the report[5]. - The company will implement strict risk control measures, including setting reasonable stop-loss limits and enhancing market analysis to mitigate price volatility risks[74]. - The company recognizes the importance of continuous innovation in maintaining its competitive edge and plans to expand its talent pool and enhance its organizational structure[97]. - The company has established procurement agreements with strategic suppliers to improve pricing power and plans to engage in futures trading to hedge against raw material price volatility[99]. Research and Development - The company is actively developing smart energy management and service cloud platforms, aiming to position itself as a leading provider of smart distribution equipment and integrated services[32]. - Research and development expenses rose by 16.48% to ¥48,851,722.56 from ¥41,938,784.08 year-on-year[54]. - The company has invested 1,576.09 million in research and development, focusing on innovative technologies in the electrical and automation sectors[80]. - The company completed the design and verification of several new products, including a high-efficiency transformer and a new structure for a large-capacity dry transformer[50][51]. Market Presence and Strategy - The company has established a nationwide sales network covering over 30 provinces, with a focus on direct sales through bidding for state grid projects[35]. - The company is expanding its market presence beyond the power grid, targeting industries such as solar thermal, chemicals, metallurgy, and municipal services[43]. - The company is actively expanding its market presence through strategic partnerships and collaborations in the renewable energy sector[80]. - The company aims to diversify its customer base and explore new markets beyond the power grid system to mitigate risks associated with customer concentration[96]. Environmental and Social Responsibility - The report includes a section on environmental and social responsibility, highlighting the company's commitment to these areas[31]. - The company has implemented comprehensive environmental management measures, including the recovery of SF6 gas and proper disposal of hazardous waste[114]. - The company received energy-saving product certifications for various types of transformers, which significantly reduce power loss and indirectly decrease CO2 emissions[115]. - The company invested in a smart energy management demonstration project, expected to reduce CO2 emissions by approximately 179,200 tons over a 25-year period[115]. Shareholder Relations - The company has established multiple channels for investor relations, including an investor consultation hotline and an interactive platform, to protect the interests of minority shareholders[116]. - The company has not sold any significant assets during the reporting period[76]. - The company has not engaged in any significant litigation or arbitration matters during the reporting period[127]. - The company has a total of 6 ongoing lawsuits related to sales contracts, with 1 case settled and 2 judgments effective during the reporting period[128]. Subsidiaries and Acquisitions - Major subsidiaries contributing over 10% to the company's net profit include Beijing Keri Bo Electric Equipment Co., Ltd., with a net profit of 9.298 million yuan[78]. - The company has established a new wholly-owned subsidiary, Beijing Keri Borun Testing Technology Service Co., with an investment of up to RMB 10 million for testing services[83]. - The company acquired 100% equity of Beijing Keri Lvtong New Energy Vehicle Leasing Co. for RMB 7.3043 million, enhancing its presence in the new energy vehicle sector[87]. - The company is actively expanding its market presence through investments in subsidiaries focused on energy efficiency and environmental technology[86]. Financial Management - The company reported a total capital reserve of 789.56 million yuan, which is a significant component of its equity structure[200]. - The company has a risk reserve of 101.38 million yuan, which serves as a buffer against potential financial uncertainties[199]. - The company has maintained a good relationship with lending banks, ensuring asset and fund security[116]. - The company has not engaged in any repurchase transactions among its top shareholders during the reporting period[163].

Financial Performance - The company's revenue for Q1 2021 was ¥280,750,531.80, representing a 31.23% increase compared to ¥213,935,879.03 in the same period last year[8] - The net profit attributable to shareholders was a loss of ¥25,300,764.95, an improvement of 44.92% from a loss of ¥45,934,000.93 in the previous year[8] - The basic earnings per share for the reporting period was -¥0.0467, an improvement of 44.94% from -¥0.0847 in the same period last year[8] - Net profit attributable to shareholders increased by 20.63 million yuan, a growth of 44.92%, driven by increased contract execution compared to the previous year affected by COVID-19[18] - The total comprehensive income for the period was -¥25,593,668.91, an improvement from -¥47,420,507.01 in the previous year, reflecting a reduction in comprehensive losses by approximately 46%[2] - The operating profit (loss) was recorded at -¥14,698,196.77, an improvement from -¥33,396,446.55 year-over-year, showing a reduction in losses by approximately 56%[4] Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥132,668,972.27, worsening by 111.38% compared to a negative cash flow of ¥62,763,689.90 in the same period last year[8] - Total cash inflow from operating activities was 531,822,401.72, while cash outflow was 664,491,373.99, resulting in a net cash outflow of -132,668,972.27[58] - The ending balance of cash and cash equivalents decreased to 194,683,290.97 from 312,974,387.00, indicating a significant reduction in liquidity[59] - The cash flow from investment activities showed a net outflow of -13,861,497.70, slightly increased from -13,114,579.04 in the previous period[58] - The cash and cash equivalents net increase was -165,392,858.91, compared to -82,993,820.09 in the previous period, indicating worsening cash flow conditions[62] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,155,457,501.75, a decrease of 4.88% from ¥3,317,373,546.47 at the end of the previous year[8] - Total liabilities decreased to CNY 1,103,498,677.45 from CNY 1,249,322,990.76, a reduction of about 11.7%[44] - Current liabilities totaled CNY 1,090,485,453.18, down from CNY 1,236,002,261.90, indicating a decrease of approximately 11.8%[44] - The company’s total equity decreased to CNY 2,051,958,824.30 from CNY 2,068,050,555.71, a decline of about 0.8%[45] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 27,518[12] - The largest shareholder, Beijing Creative North Technology Development Co., Ltd., held 27.11% of the shares, totaling 147,045,953 shares[12] Research and Development - Research and development expenses increased by 5.36 million yuan, a growth of 32.00%, due to delays in R&D work caused by the pandemic in the previous year[17] - Research and development expenses rose to ¥22,109,505.82, up from ¥16,749,171.70, marking a 32.5% increase compared to the previous year[1] Government Support - The company received government subsidies totaling ¥335,504.59 during the reporting period, including ¥227,250.00 for solar photovoltaic building applications[9] Investments and Projects - The company won two bidding projects from Southern Power Grid with a total amount of 152.10 million yuan[21] - The company established a new wholly-owned subsidiary, Zhengzhou Airport Keri New Energy Co., Ltd., with an investment of up to 10 million yuan[24] - The company won a project bid from Southern Power Grid with a bid amount of RMB 152.09999 million[28] - The company reported an investment income of ¥231,434.32, compared to a loss of -¥773,498.03 in the previous year, indicating a positive turnaround in investment performance[4] Other Financial Metrics - Cash received from sales of goods and services was ¥500,512,641.53, compared to ¥460,344,719.80 in the previous year, showing an increase of approximately 8.8%[5] - The company experienced a credit impairment loss of ¥9,125,144.43, compared to a gain of -¥2,584,450.56 in the previous year, indicating a significant shift in credit quality[1] - The company’s long-term deferred expenses increased by 3.99 million yuan, a growth of 31.32%, due to increased expenditures for obtaining type test reports[16] - Financial expenses decreased by 812,400 yuan, a reduction of 54.36%, due to a decrease in loan balances and corresponding interest expenses[17] - The company’s other payables decreased by 11.80 million yuan, a reduction of 39.91%, primarily due to payments made for freight previously accrued[16]

Dividend Distribution - The company plans to distribute a cash dividend of 0.71 RMB per 10 shares (including tax) to all shareholders[5]. - The company has implemented a cash dividend policy, ensuring that at least 10% of the distributable profits are allocated as cash dividends annually, provided the company is profitable and has sufficient cash flow[128]. - The company’s cash dividend distribution is contingent upon achieving positive distributable profits and the absence of significant investment plans or cash expenditures exceeding 50% of the latest audited net assets[128]. - In 2020, the company distributed a cash dividend of ¥38,505,525.92, which is 70.30% of the net profit attributable to ordinary shareholders[137]. - The total cash dividend, including other methods like share buybacks, amounted to ¥45,354,205.82, representing 100% of the profit distribution total[138]. - The company proposed a cash dividend of ¥0.71 per 10 shares (including tax) for the 2020 fiscal year, with a total share base of 542,331,351 shares[139]. - The cash dividend payout ratio for 2020 was significantly higher compared to 2019, which was 35.91%[137]. - The company’s cash dividend policy allows for differentiated distribution ratios based on its development stage and capital expenditure plans[128]. - The company’s board of directors emphasized the importance of balancing shareholder interests with the company's long-term growth needs[139]. Financial Performance - The company’s operating revenue for 2020 was CNY 2,182,895,355.92, a decrease of 9.83% compared to 2019[16]. - The net profit attributable to shareholders for 2020 was CNY 54,774,563.67, down 33.51% from the previous year[16]. - The net cash flow from operating activities was CNY 111,365,786.06, a decline of 46.03% compared to 2019[16]. - Basic earnings per share for 2020 were CNY 0.1023, a decrease of 34.17% from 2019[16]. - Total assets at the end of 2020 were CNY 3,317,373,546.47, a decrease of 1.90% from the end of 2019[16]. - The net assets attributable to shareholders increased by 4.96% to CNY 1,863,426,781.77 at the end of 2020[16]. - The company achieved a net increase in cash and cash equivalents of -¥16,478,681.64, reflecting a 91.13% improvement compared to the previous year[71]. - The company reported a significant reduction in total investments, with a current period investment of ¥8,566,409.64, down 93.23% from ¥126,594,219.45 in the previous year[82]. Risk Management and Governance - The board of directors has confirmed the accuracy and completeness of the annual report, ensuring no false records or misleading statements[4]. - The company emphasizes the importance of risk awareness regarding future plans and development strategies, as outlined in the report[5]. - The report outlines the company's governance structure and the roles of its board and supervisory committee[7]. - The company has committed to maintaining transparency and accountability in its financial reporting practices[4]. - The company recognizes the potential risks associated with new business developments and plans to mitigate them through careful management and phased investments[123]. - The company is addressing risks related to high customer concentration by diversifying its market beyond state grid companies[121]. Research and Development - The company focuses on R&D in smart and automated power distribution equipment, leveraging its strong technical development capabilities and numerous patents[30]. - The company has accumulated 157 valid patent authorizations, including 43 invention patents, supporting its strong R&D capabilities and product innovation[37]. - Research and development expenses totaled ¥109,096,966.47, a decrease of 8.38% compared to the previous year, while the R&D expenditure as a percentage of operating income increased to 5.00%[69]. - The company is committed to ongoing research and development in energy-saving technologies and environmental protection solutions[95]. Market Strategy and Expansion - The company is focused on enhancing its product offerings and technological advancements in the distribution automation sector[10]. - The company plans to expand its product applications into industries such as solar thermal, chemical, metallurgy, and municipal sectors, aiming to increase market share[39]. - The company is positioned to benefit from the shift in focus from main grid construction to distribution network development, emphasizing smart and integrated solutions[32]. - The company is actively pursuing mergers and acquisitions to strengthen its position in the energy sector and enhance its technological capabilities[95]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by the end of 2021[197]. Employee and Social Responsibility - The company provided comprehensive employee benefits, including medical insurance, annual health check-ups, and various recreational activities[187]. - The company actively engaged in social responsibility initiatives, focusing on environmental protection and community development[184]. - The company has implemented an employee stock ownership plan, granting 18.7 million shares to 56 key employees, aligning management interests with company development[51]. - The company emphasized the importance of talent management and employee rights, fostering a harmonious labor relationship[187]. Acquisitions and Investments - The company acquired a 41.50% stake in Anhui Hengzhi Copper Indium Gallium Selenide Technology Co., Ltd. for ¥15,620,973.08 in January 2020[63]. - The company completed the acquisition of the remaining 10% stake in Corei Bo Run on July 20, 2020, bringing its total ownership to 100%, making Corei Bo Run a wholly-owned subsidiary[99]. - The company acquired an additional 5% stake in Corei Bo Run for cash, increasing its ownership to 85% as of May 8, 2018, with the valuation based on 12 times the audited net profit for that year[99]. Compliance and Legal Matters - The company reported a significant change in accounting policy, adopting the new revenue recognition standard effective January 1, 2020, which introduced a five-step method for revenue recognition[147]. - The company confirmed that there were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[146]. - The company is involved in 14 ongoing lawsuits related to sales contracts, with 10 cases already resolved and payments received[158].

Financial Performance - Operating revenue for the reporting period was ¥631,785,223.58, representing an increase of 8.40% year-on-year[8]. - Net profit attributable to shareholders was ¥34,417,241.40, a decrease of 9.08% compared to the same period last year[8]. - The basic earnings per share for the reporting period was ¥0.0690, down 2.13% year-on-year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥34,240,168.34, an increase of 29.24% year-on-year[8]. - The estimated cumulative net profit for the year is projected to be between 48 million and 72 million RMB, representing a decline of approximately 41.73% compared to the previous year's 82.38 million RMB[35]. - Basic earnings per share are expected to be between 0.0946 and 0.1420 RMB, reflecting a decrease of about 39.24% from the previous year's 0.1557 RMB[35]. - The net profit for Q3 2020 was CNY 35,558,442.93, a decrease of 13.5% from CNY 40,879,307.19 in Q3 2019[55]. - The net profit for Q3 2020 was ¥17,164,651.33, down 41.3% from ¥29,329,118.11 in the same period last year[57]. - The total profit for Q3 2020 was ¥19,720,461.78, a decrease of 40.7% from ¥33,309,091.77 in the same period last year[57]. Cash Flow - The net cash flow from operating activities was ¥131,633,777.95, a significant increase of 394.87% compared to the previous year[8]. - The net cash flow from operating activities decreased by 63.93 million yuan, a decline of 588.11%, primarily due to delayed payments from the Southern Power Grid settlement adjustment[18]. - The net cash flow from investing activities increased by 45.54 million yuan, a growth of 65.43%, mainly due to reduced cash payments for fixed asset construction[19]. - The net cash flow from financing activities increased by 244.27 million yuan, a growth of 96.71%, primarily due to funds received from the employee stock ownership plan[19]. - The total cash inflow from operating activities was CNY 1,588,794,481.16, down from CNY 1,787,135,480.25 year-over-year[71]. - The net cash flow from operating activities was negative CNY 53,056,598.29, compared to a positive CNY 10,869,747.53 in the same quarter last year[67]. - Cash and cash equivalents at the end of the period stood at CNY 313,367,596.87, a decrease from CNY 398,782,775.68 at the beginning of the period[68]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥3,457,414,097.17, an increase of 2.24% compared to the end of the previous year[8]. - The company's total liabilities stood at approximately 1.420 billion RMB, slightly up from 1.412 billion RMB at the end of 2019[48]. - Total assets as of September 30, 2020, were approximately 3.457 billion RMB, up from 3.382 billion RMB at the end of 2019[48]. - The total equity attributable to shareholders increased to approximately 1.839 billion RMB from 1.775 billion RMB at the end of 2019[48]. - The total liabilities for Q3 2020 were CNY 1,333,093,640.39, an increase from CNY 1,292,177,599.62 in the same quarter last year[51]. - The company's equity increased to CNY 1,653,586,685.36 in Q3 2020, up from CNY 1,585,286,651.87 in Q3 2019, indicating a growth of 4.3%[51]. Shareholder Information - The total number of shareholders at the end of the reporting period was 28,872[12]. - The largest shareholder, Beijing Creative North Technology Development Co., Ltd., held 27.11% of the shares, with 73,717,295 shares pledged[12]. - The total number of shares pledged by the controlling shareholder reached 73,717,295 shares, accounting for 13.59% of the total share capital[25]. - The company repurchased a total of 4,627,021 shares, accounting for 0.8531% of the total share capital, with a total transaction amount of approximately 25.02 million yuan[20]. - The company has cumulatively repurchased 18,737,660 shares, representing about 3.4548% of the total share capital, with a total transaction amount of 111,752,392.62 RMB[30]. Investments and Expenditures - Long-term equity investments decreased by 31.03 million yuan, a reduction of 34.14%, primarily due to the consolidation of Anhui Hengzhi Copper Indium Gallium Selenium Technology Co., Ltd.[16]. - Development expenditures increased by 7.97 million yuan, a growth of 47.32%, mainly due to increased R&D investments during the reporting period[16]. - The company completed the acquisition of 30% equity in Shaanxi Keri Energy, obtaining a new business license from the Xi'an Market Supervision Administration[27]. - The company plans to use idle funds to invest in financial products, with a redemption of 2 million RMB principal and a return of 32,400 RMB[28]. - The company has recognized contract liabilities of ¥49.02 million, reflecting prepayments received from customers[81]. Research and Development - Research and development expenses for Q3 2020 were CNY 22,745,382.62, a decrease from CNY 24,660,104.24 in the previous year[54]. - Research and development expenses for Q3 2020 were ¥13,514,072.65, a decrease of 9.7% compared to ¥14,965,555.07 in the previous period[57]. - The company anticipates additional amortization expenses of approximately 28.5 million RMB due to the implementation of the employee stock ownership plan, contributing to the overall decline in net profit[35]. Accounting and Compliance - The company implemented new revenue and leasing standards starting January 1, 2020, leading to reclassification of certain assets and liabilities[77]. - The company has implemented new revenue recognition standards effective January 1, 2020, impacting the classification of certain assets and liabilities[82]. - The company has not conducted an audit for the third-quarter report, which may affect the reliability of the financial data presented[83].

Financial Performance - The company's operating revenue for the current reporting period is approximately ¥799.89 million, a decrease of 21.78% compared to the same period last year[19]. - The net profit attributable to shareholders of the listed company is approximately -¥8.54 million, representing a decline of 179.10% year-on-year[19]. - The net cash flow from operating activities is approximately -¥184.69 million, a significant decrease of 1,074.14% compared to the previous year[19]. - The company's basic earnings per share for the current period is -¥0.0174, a decrease of 187.00% compared to the previous year[19]. - The company's weighted average return on net assets is -0.48%, down by 1.08% from the previous year[19]. - Revenue for the reporting period was 799.8882 million yuan, a year-on-year decline of 21.78%, with a net profit of -6.6287 million yuan, down 141.19%[45]. - The total comprehensive income for the first half of 2020 was ¥-6,628,709.06, compared to ¥16,091,379.52 in the first half of 2019, indicating a significant decline in overall financial performance[186]. - The company reported a total profit for the first half of 2020 was ¥-5,652,407.60, compared to ¥25,655,763.94 in the first half of 2019, reflecting a substantial decrease[186]. Assets and Liabilities - The total assets at the end of the reporting period amount to approximately ¥3.44 billion, an increase of 1.65% from the end of the previous year[19]. - The company's cash and cash equivalents decreased by 60.48% to -¥151,296,264.31 from -¥382,869,313.13 in the previous year[56]. - Accounts receivable increased to 1,103,824,765.35, representing 32.11% of total assets, an increase of 0.48% year-on-year[64]. - Inventory stood at 546,037,840.26, accounting for 15.88% of total assets, up by 0.29% from the previous year[64]. - Short-term borrowings rose to 300,000,000.00, making up 8.73% of total liabilities, a significant increase of 7.20% due to new bank loans[65]. - The total liabilities at the end of the reporting period were 1,795,196,740.00 CNY[200]. Research and Development - The company is focused on developing new technologies and products in the distribution automation sector[11]. - The company has accumulated 147 patent authorizations, including 39 invention patents, 105 utility model patents, and 3 design patents[37]. - Research and development expenses were ¥41,938,784.08, down 18.52% from ¥51,468,339.49 in the previous year[56]. - The company is actively developing new products, including a storage integration machine that combines control and main control functions to reduce costs and facilitate installation and maintenance[50]. - The energy management platform underwent a technical upgrade, enhancing functionalities such as energy management and analysis, and integrating blockchain and edge computing technologies[50]. Market Strategy and Expansion - The report highlights the company's strategic initiatives for market expansion and potential mergers and acquisitions[11]. - The company plans to enhance its market position by leveraging its established resources and partnerships with power grids and local governments[26]. - The company is focusing on expanding its market presence through new product development and technology services in the energy sector[80]. - The company is expected to benefit from the ongoing investment in distribution network construction, with a projected investment of no less than 1.7 trillion in the 2016-2020 period[32]. - The company plans to expand beyond the current customer base and improve its market position by exploring new technologies and business areas[100]. Corporate Governance and Transparency - The financial report ensures the accuracy and completeness of the financial statements, with the responsible persons affirming their authenticity[4]. - The company has a commitment to transparency, with all board members present for the report's review[5]. - The company did not distribute cash dividends or issue bonus shares for the first half of 2020[106]. - The half-year financial report for 2020 was not audited, indicating a lack of external validation for the financial data presented[108]. - The company has no significant litigation or arbitration matters during the reporting period[111]. Shareholder Activities - The company reported a cash dividend of RMB 0.6 per 10 shares, with a record date of May 18, 2020[119]. - The company has engaged in share repurchase activities, with multiple announcements regarding the progress of these repurchases throughout early 2020[144]. - The company approved a share repurchase plan with a total fund not exceeding RMB 200 million and a minimum of RMB 50 million, with a repurchase price not exceeding RMB 10 per share[153]. - As of the report date, the company has repurchased a total of 18,737,660 shares, accounting for approximately 3.45% of the total share capital of 542,369,011 shares, with a total transaction amount of RMB 111,752,392.62[156]. Environmental Management - The company has implemented advanced equipment for environmental management, including SF6 gas recovery systems and smoke purification systems, to minimize environmental pollution[141]. - The company has not been classified as a key pollutant discharge unit by environmental protection authorities, indicating compliance with environmental regulations[141]. - The company continues to prioritize environmental management and clean production across all operational stages[141].

Financial Performance - The company's operating revenue for Q1 2020 was ¥213,935,879.03, a decrease of 58.77% compared to ¥518,844,638.76 in the same period last year[8] - The net profit attributable to shareholders was -¥45,934,000.93, representing a decline of 743.76% from ¥7,135,292.37 in the previous year[8] - The net cash flow from operating activities was -¥62,763,689.90, down 137.98% from ¥165,235,955.41 in the same period last year[8] - Basic earnings per share were -¥0.0932, a decrease of 738.36% compared to ¥0.0146 in the previous year[8] - Operating income decreased by 304.91 million yuan, a decline of 58.77%, primarily due to delays in resuming work caused by the COVID-19 pandemic, affecting order delivery and acceptance in the first quarter[17] - Net profit attributable to shareholders decreased by 53.07 million yuan, a drop of 743.76%, mainly due to significant revenue decline from the impact of the COVID-19 pandemic[18] - Cash flow from operating activities decreased by 227.99 million yuan, a decrease of 137.98%, primarily due to delayed payments from the Southern Power Grid settlement adjustment[18] - The company reported a net loss of ¥47,420,507.01 for Q1 2020, compared to a net profit of ¥9,612,332.55 in the same period last year, indicating a significant decline in profitability[56] - Operating revenue decreased to ¥167,950,449.42 in Q1 2020 from ¥454,178,276.44 in Q1 2019, representing a year-over-year decline of approximately 63.0%[58] - The company reported a total comprehensive loss of ¥47,420,507.01 for Q1 2020, compared to a comprehensive income of ¥9,612,332.55 in Q1 2019[56] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,210,258,901.76, a reduction of 5.07% from ¥3,381,698,827.50 at the end of the previous year[8] - The company's total assets decreased to ¥2,667,865,537.33 from ¥2,877,464,251.49, indicating a decline of approximately 7.3%[52] - Current liabilities totaled ¥1,122,830,056.02, down from ¥1,292,177,599.62, representing a reduction of about 13.1%[52] - The company's accounts receivable decreased to ¥918,759,177.73 from ¥1,065,246,638.23 at the end of 2019[46] - The total liabilities of the company were $1.29 billion, reflecting a significant portion of the total assets[73] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 34,777[12] - The largest shareholder, Beijing Creative Northern Technology Development Co., Ltd., held 27.11% of the shares, amounting to 133,678,139 shares[12] - The company did not engage in any repurchase transactions during the reporting period[13] - The controlling shareholder, Keri North, plans to reduce its holdings by up to 9,861,323 shares, representing 2.00% of the total share capital[27] - The company has appointed Mr. Zhu Ming as the general manager and Mr. Shen Wei and Mr. Li Jinming as deputy general managers, each with a term of three years[28] Government Support and Subsidies - The company received government subsidies totaling ¥591,731.24 during the reporting period, which included various specific subsidies[10] Cash Flow and Investments - The company’s cash and cash equivalents net increase decreased by 40.31 million yuan, a decline of 88.59%, due to the combined effects of various changes[19] - The company is actively utilizing idle funds for investment and wealth management[29] - The company reported a net cash flow from operating activities of -$72.67 million, a significant decrease from $138.99 million in the previous period, indicating a decline in operational efficiency[65] - The cash flow from investment activities was -$0.40 million, a decrease from -$134.27 million, indicating improved investment management[66] Research and Development - Research and development expenses for Q1 2020 were ¥16,749,171.70, down from ¥27,393,739.18, indicating a reduction of about 38.9%[55] - The company incurred research and development expenses of ¥10,699,553.47 in Q1 2020, a decrease of 37.5% compared to ¥17,220,764.48 in Q1 2019[58] Share Repurchase and Equity Management - The company repurchased a total of 4,627,021 shares, accounting for 0.9384% of the total share capital, with a total transaction amount of approximately 25.02 million yuan[21] - The company is implementing a share repurchase plan with a budget of up to RMB 200 million, with a maximum repurchase price of RMB 10 per share[30] - Cumulatively, the total shares repurchased reached 18,737,660, accounting for approximately 3.8002% of the total share capital, with a total cost of RMB 111,752,392.62[33] Changes in Accounting Standards - The company has adopted the new revenue recognition standards starting January 1, 2020, impacting the classification of contract assets and liabilities[75] - The company reclassified completed but unsettled assets from inventory to contract assets under the new revenue standards[73] - Contract liabilities were recognized for advance payments received before transferring goods to customers[73]

Dividend Policy - The company plans to distribute a cash dividend of 0.6 RMB per 10 shares (including tax) and will increase capital reserves by converting 1 share for every 10 shares held[5]. - The cash dividend policy stipulates that the company will distribute at least 10% of the distributable profit in cash annually, provided that the company is profitable and has sufficient cash flow[136]. - For the 2018 annual profit distribution plan, the company proposed a cash dividend of 0.6 yuan per 10 shares, totaling 29.38 million yuan, which was approved by the shareholders' meeting[142]. - The company plans to distribute a cash dividend of 0.6 yuan per 10 shares for the 2019 fiscal year, pending approval at the upcoming shareholders' meeting[143]. - The cash dividend amount for 2019 was CNY 28,459,710.06, representing 34.55% of the net profit attributable to ordinary shareholders[144]. - The total cash dividend, including other methods, amounted to CNY 78,294,276.03, which is 100% of the total distributable profit of CNY 318,511,473.86[145]. - The company has committed to maintaining a stable dividend policy to optimize its capital structure and ensure long-term development[147]. - The company’s cash dividend distribution plan for 2019 is subject to the approval of the shareholders' meeting, reflecting a commitment to shareholder returns[143]. Financial Performance - The company’s operating revenue for 2019 was approximately ¥2.42 billion, a decrease of 6.16% compared to the previous year[16]. - The net profit attributable to shareholders for 2019 was approximately ¥82.38 million, representing a decline of 20.66% year-over-year[16]. - The net profit after deducting non-recurring gains and losses was approximately ¥67.33 million, down 33.40% from the previous year[16]. - The total assets at the end of 2019 were approximately ¥3.38 billion, a decrease of 11.39% from the end of 2018[17]. - The net assets attributable to shareholders at the end of 2019 were approximately ¥1.78 billion, down 4.69% compared to the previous year[17]. - Basic earnings per share for 2019 were ¥0.1713, a decrease of 21.02% year-over-year[16]. - The weighted average return on equity for 2019 was 4.63%, down from 6.37% in 2018[16]. - The company reported a total revenue of 149,223,880.20 yuan for the year 2019[88]. - The net profit for the year was 557.08 million, reflecting a growth of 16.7% from the previous year[104]. Operational Efficiency - The company has implemented advanced monitoring and control technologies for its distribution network, enhancing operational efficiency and reliability[10]. - The report includes a detailed analysis of operational risks and countermeasures, indicating a proactive approach to future challenges[5]. - The company is focusing on the development of smart sensing terminal devices and edge computing gateways, aligning with the demands of the pervasive power IoT and strong smart grid[47]. - The company has a competitive advantage due to its differentiated product design capabilities, allowing for rapid adjustments to meet market demands[30]. - The gross margin improved to 29.74%, indicating better cost management and operational efficiency[105]. Research and Development - The company has a strong emphasis on R&D, with significant investments leading to a robust portfolio of patented technologies and products[30]. - The company increased its R&D personnel to 306, representing a 22.40% increase from 250 in the previous year[70]. - R&D investment amounted to ¥119,070,622.49, a decrease of 8.41% compared to ¥130,004,712.84 in 2018, with R&D expenditure accounting for 4.92% of operating revenue[70]. - The company has accumulated 176 patent authorizations, including 38 invention patents[37]. - The company has completed the R&D and small batch production of several new products, including the 35kV signal source and various high-voltage circuit breakers[69]. Market Expansion - The company is exploring market expansion opportunities, particularly in the smart grid and automation sectors, to enhance its competitive position[10]. - The company has established a nationwide sales network covering over 30 provinces, enhancing its market reach and sales capabilities[29]. - The company plans to expand its product application range to cover more industries, aiming for a steady increase in market share[39]. - The company is actively expanding its market presence in the clean energy sector, particularly in solar and biomass energy[86]. - The company is focusing on new product development in the field of solar energy and related technologies[86]. Risk Management - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute a commitment to investors, highlighting the importance of risk awareness[5]. - The company recognizes risks related to market competition and plans to maintain its competitive edge through increased R&D investment and improved product quality[128]. - The company is aware of the risks associated with high customer concentration and aims to diversify its market presence beyond state-owned enterprises[129]. Corporate Governance - The board of directors has confirmed that all members attended the meeting to review the annual report, ensuring accountability for the report's accuracy and completeness[4]. - The financial report is guaranteed to be true, accurate, and complete by the company's responsible personnel, including the chairman and accounting manager[4]. - The company has not reported any changes in controlling shareholders during the reporting period[15]. - There were no significant differences between financial reports prepared under international accounting standards and those under Chinese accounting standards during the reporting period[18]. Legal and Compliance - The company is involved in a lawsuit with Shanghai Oujia Electromechanical Equipment Co., Ltd., claiming RMB 15.4 million in a contract dispute, with the first-instance judgment made on November 29, 2019[166]. - The company has a total of 13 lawsuits related to sales contracts, with 7 judgments already effective and 4 lawsuits pending[167]. - There are no penalties or rectification situations reported during the reporting period[168]. Shareholder Engagement - The company has implemented an employee stock ownership plan, with the first grant date set for December 23, 2016, at a price of RMB 11.84 per share[171]. - The company granted 9.37 million restricted stocks to 246 participants, with a lock-up period of 12, 24, and 36 months, unlocking 40%, 30%, and 30% respectively[173]. - The company has been actively managing its share capital through repurchase and cancellation of restricted shares to optimize shareholder value[184]. - The company’s strategic adjustments in share repurchase reflect its commitment to enhancing shareholder returns and managing equity effectively[185].

Financial Performance - Operating revenue for the reporting period was CNY 582,805,769.99, down 4.05% year-on-year, with year-to-date revenue at CNY 1,605,414,752, a decrease of 7.20% compared to the same period last year[8] - Net profit attributable to shareholders was CNY 37,853,961.88, representing a year-on-year increase of 28.74%, while year-to-date net profit was CNY 48,644,422.55, down 26.08% compared to the previous year[8] - Basic earnings per share for the reporting period were CNY 0.0776, an increase of 25.97% year-on-year, while diluted earnings per share were CNY 0.0765, up 27.50%[8] - Net profit for Q3 2019 reached ¥40,879,307.19, an increase of 43.1% compared to ¥28,567,657.12 in Q3 2018[48] - Operating revenue for the current period is $510.53 million, a decrease of 9.5% from $564.22 million in the previous period[51] - Net profit for the current period is $29.33 million, an increase of 5.5% compared to $27.80 million in the previous period[52] - Total profit for the current period is $33.31 million, a slight decrease of 0.6% from $33.51 million in the previous period[52] Cash Flow and Liquidity - Cash flow from operating activities was CNY 26,599,517.75, a significant increase of 466.81% compared to the previous year[8] - Cash and cash equivalents decreased by 303.79 million RMB, a reduction of 45.76%, primarily due to payments for the acquisition of Puluo New Energy (Bengbu) Co., Ltd.[18] - Cash inflow from financing activities totaled $150 million, a decrease from $594.58 million year-over-year, representing a decline of about 74.8%[67] - The total cash and cash equivalents at the end of the period stood at $176.11 million, down from $352.50 million at the end of the previous year, reflecting a decrease of approximately 50%[67] - The company maintained a cash balance of $453.66 million at the beginning of the period, which is a significant increase compared to the previous year's starting balance of $233.72 million, showing improved liquidity[67] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,529,574,639.36, a decrease of 7.77% compared to the end of the previous year[8] - Total liabilities decreased to ¥1,588,809,742.04 from ¥1,908,003,070.27, reflecting a reduction of about 16.74%[39] - The company's total equity increased to ¥1,940,764,897.32 from ¥1,918,921,276.84, showing a slight increase of approximately 1.01%[40] - Total assets as of Q3 2019 amounted to ¥3,083,717,813.69, compared to ¥3,304,076,402.41 in the previous year, indicating a decrease of 6.7%[45] - Total liabilities for Q3 2019 were ¥1,492,198,415.50, down from ¥1,730,508,569.71, a reduction of 13.8%[44] - The company's total equity was reported at $1.92 billion, which is stable compared to the previous year, indicating a solid equity position[72] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 33,804, with the largest shareholder holding 26.74% of the shares[14] - The company has repurchased a total of 14,110,639 shares, accounting for 2.82% of the total share capital, with a total transaction amount of 86,736,372.21 RMB[18] - The company plans to reduce shareholdings by a total of no more than 602,327 shares, accounting for no more than 0.1205% of the total share capital, within six months following the announcement of the reduction plan[19] - The controlling shareholder, Keri North Technology Development Co., Ltd., pledged a total of 115.25 million shares, accounting for 23.05% of the company's total share capital and 86.21% of its holdings[21] Research and Development - Development expenses increased by 13.38 million RMB, a growth of 539.30%, primarily for R&D investments in the integration of primary and secondary projects[18] - Research and development expenses for Q3 2019 were ¥24,660,104.24, a decrease of 28.1% from ¥34,246,124.89 in the previous year[47] - Research and development expenses decreased to $14.97 million, down 31.8% from $21.94 million in the previous period[51] Government Support and Other Income - The company received government subsidies totaling CNY 2,285,953.98 during the reporting period, contributing to other income[10] - Other income decreased to $4.97 million, down 63.4% from $13.58 million in the previous period[51] Compliance and Governance - The company has not encountered any overdue commitments from actual controllers, shareholders, or related parties during the reporting period[26] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[30] - The company has no reported non-compliance with external guarantees during the reporting period[29]