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]

Financial Performance - The company's operating revenue for the reporting period was approximately ¥1.02 billion, a decrease of 8.90% compared to the same period last year[20]. - The net profit attributable to shareholders was approximately ¥10.79 million, reflecting a significant decline of 70.36% year-over-year[20]. - The basic earnings per share decreased to ¥0.0220, a drop of 73.01% compared to the previous year[20]. - The total assets at the end of the reporting period were approximately ¥3.26 billion, down 14.82% from the previous year[20]. - The gross profit margin decreased to 22.99%, down 2.32 percentage points year-on-year, primarily due to slower shipment speed and changes in product structure[46]. - Total operating revenue decreased by 8.90% to CNY 1,022,608,982.77 compared to CNY 1,122,523,582.84 in the same period last year[56]. - Net profit for the first half of 2019 was CNY 16,091,379.52, a decline of 56.0% from CNY 36,516,770.61 in the first half of 2018[198]. Cash Flow and Assets - The net cash flow from operating activities improved to approximately -¥15.73 million, a 90.59% increase compared to the previous year[20]. - Cash and cash equivalents decreased by 336.2784 million, a decline of 50.66%, primarily due to repayment of 150 million in loans and payment of 126 million for the acquisition of a subsidiary[37]. - Total liabilities decreased from ¥1,908,003,070.27 to ¥1,329,732,451.56, a reduction of about 30.3%[190]. - The company's cash and cash equivalents decreased significantly from ¥663,848,152.09 to ¥327,569,792.88, a reduction of approximately 50.7%[187]. - Accounts receivable decreased from ¥1,214,794,784.19 to ¥1,031,190,588.39, reflecting a decline of about 15.1%[187]. Strategic Initiatives and Market Expansion - The company emphasizes the importance of risk factors and their management strategies in the report[5]. - The report outlines the company's commitment to innovation in smart distribution automation technologies[11]. - The company plans to expand into smart power property services and integrated service contracting in the energy sector[28]. - The company is positioned to expand its product applications beyond the power grid to industries such as solar thermal, chemicals, metallurgy, and municipal sectors[41]. - The company is focusing on expanding its market presence through new product development and technological advancements in the electric power sector[88]. - The company is actively pursuing mergers and acquisitions, with two potential targets identified in the technology sector[7]. Research and Development - Research and development expenses decreased by 15.12% to 51.47 million RMB[53]. - The company has accumulated 145 patent authorizations, including 27 invention patents, 116 utility model patents, and 2 design patents[39]. - The company plans to enhance its R&D capabilities, with a budget increase of 25% for the upcoming fiscal year[9]. - Research and development expenses for the first half of 2019 were CNY 43,743,658.42, a decrease from CNY 60,634,951.99 in the previous year, indicating a potential shift in focus[198]. Shareholder and Stock Information - The company reported a plan not to distribute cash dividends, issue bonus shares, or increase capital from reserves[6]. - The company completed the cancellation of 285,090 restricted stocks, reducing its registered capital from ¥500,271,975 to ¥499,986,885[19]. - The company has implemented an employee stock incentive plan, with 9.37 million shares granted initially[122]. - The total number of shares granted under the incentive plan increased to 15.93 million after a capital increase[127]. - The company’s share repurchase plan was approved at the shareholders' meeting held on May 21, 2019[164]. Legal and Compliance Matters - The company has not encountered any bankruptcy reorganization matters during the reporting period[118]. - The company has no significant litigation or arbitration matters during the reporting period[119]. - The company has 7 ongoing lawsuits related to sales contracts, with a total claim amount of RMB 6.28 million[119]. - The company has successfully won 5 lawsuits, while one case is pending for a hearing[119]. Environmental and Social Responsibility - The company has implemented advanced environmental management practices, including the introduction of SF6 gas recovery systems and smoke purification systems to minimize environmental impact[153]. - The company has established a dedicated facility for the storage and management of hazardous waste, ensuring compliance with environmental regulations[153]. - The company continues to prioritize clean production and environmental management across all operational stages, from raw materials to sales[153].

Financial Performance - The company's operating revenue for Q1 2019 was ¥518,844,638.76, representing a 40.02% increase compared to ¥369,782,096.54 in the same period last year[9] - Net profit attributable to shareholders was ¥7,135,292.37, up 31.32% from ¥6,509,811.72 year-on-year[9] - The net profit after deducting non-recurring gains and losses was ¥6,792,276.23, a 41.44% increase from ¥5,878,256.65 in the previous year[9] - Basic earnings per share were ¥0.0146, reflecting a 21.67% increase from ¥0.0120 in the previous year[9] - The total comprehensive income for Q1 2019 was 9,612,332.55 CNY, significantly higher than 4,371,055.47 CNY in the same quarter last year[48] - The total profit for Q1 2019 was CNY 12,945,904.54, a decrease from CNY 33,679,836.50 in the previous year, representing a decline of approximately 61.5%[51] - The net profit for Q1 2019 was CNY 11,023,145.53, down from CNY 29,839,686.47 in the same period last year, indicating a decrease of about 63.1%[51] Cash Flow - The net cash flow from operating activities was ¥165,235,955.41, a significant improvement of 382.17% compared to -¥77,062,316.20 in the same period last year[9] - Cash inflow from operating activities was CNY 714,121,826.06, compared to CNY 585,336,323.52 in the previous year, reflecting an increase of approximately 21.9%[53] - The net cash flow from operating activities was CNY 165,235,955.41, a significant improvement from a net outflow of CNY 58,559,618.68 in the previous year[54] - Cash outflow for investing activities totaled CNY 153,026,618.60, compared to CNY 48,105,832.24 in the previous year, showing an increase of about 218.5%[55] - The net cash flow from investing activities was negative CNY 147,545,268.47, worsening from a negative CNY 28,475,139.95 in the previous year[55] - Cash flow from financing activities resulted in a net outflow of CNY 63,191,430.06, compared to a net inflow of CNY 26,232,054.16 in the previous year[55] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,434,164,726.75, a decrease of 10.01% from the previous year's end[9] - The company's total assets decreased from 3,304,076,402.41 CNY to 3,007,193,334.14 CNY, a decline of approximately 9% year-over-year[44] - Total liabilities decreased to CNY 1,477,532,643.72 from CNY 1,897,395,398.19, a reduction of approximately 22.1%[38] - The company's total liabilities decreased to 1,404,323,691.71 CNY from 1,730,508,569.71 CNY year-over-year, a reduction of approximately 19%[44] - The total equity increased to CNY 1,602,869,642.43, up from CNY 1,573,567,832.70, reflecting a growth of about 2%[44] - The total equity attributable to shareholders was CNY 1,736,142,169.79, reflecting a stable capital structure[62] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 37,770[13] - The largest shareholder, Beijing Creative North Technology Development Co., Ltd., held 26.72% of the shares, amounting to 133,678,139 shares[13] - The company repurchased a total of 10,255,731 shares, accounting for 2.05% of the total share capital, with a total transaction amount of approximately RMB 64.40 million[17] - The company plans to repurchase shares with a total amount not exceeding RMB 1.3 billion, with a minimum of RMB 65 million, for employee stock ownership plans, at a price not exceeding RMB 9.53 per share[25] Investments and Acquisitions - The company acquired a 50.59% stake in Puluo New Energy for RMB 126.48 million, which has been completed[19] - The company won a project bid from Southern Power Grid with a total contract value of RMB 95.7589 million[25] - The company’s subsidiary, Keri Energy, increased its registered capital from RMB 8 million to RMB 50 million with an investment of RMB 42 million[24] - The company has utilized idle self-owned funds for investment and wealth management, with a total investment amount of RMB 30,125,230[28] Operational Metrics - Revenue increased by RMB 148.29 million, a growth of 40.02% compared to the same period last year, primarily due to an increase in executed contracts[17] - Operating costs rose by RMB 132.00 million, a growth of 47.86%, in line with revenue growth[17] - The company’s gross profit margin decreased to 21.40%, down 4.16 percentage points from the previous year, due to changes in product sales structure and declining margins on certain products[17] - Research and development expenses for Q1 2019 were 27,393,739.18 CNY, a rise of 7% from 25,645,400.08 CNY in Q1 2018[46] Other Financial Information - The company received government subsidies amounting to ¥750,000.00 during the reporting period[10] - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties during the reporting period[30] - There were no research, communication, or interview activities recorded during the reporting period[31] - The company has not undergone an audit for the first quarter report, which may affect investor confidence[66] - The company has implemented new financial and leasing standards, which may impact future financial reporting[66]

Dividend Policy - The company plans to distribute a cash dividend of 0.60 RMB per 10 shares (including tax) to all shareholders[5]. - The company implemented a cash dividend policy, distributing at least 10% of the annual distributable profit in cash when profitable[136]. - Cumulative cash dividends from 2015 to 2017 amounted to CNY 45.06 million, representing 70.61% of the average annual net profit attributable to shareholders during that period[136]. - For the 2016 fiscal year, the company distributed CNY 34.15 million in cash dividends, with a ratio of 44.66% of the net profit attributable to shareholders[141]. - In 2018, the company proposed a cash dividend of CNY 0.60 per 10 shares, totaling CNY 29.40 million, which was approved and executed[142]. - The total cash dividend for 2018, including other methods, reached CNY 84.47 million, accounting for 100% of the total distributable profit[142]. - The company did not distribute any cash dividends for the 2017 fiscal year, maintaining a focus on reinvestment[139]. - The cash dividend policy aligns with the company's articles of association and shareholder resolutions, ensuring transparency and compliance[138]. - The company plans to continue its cash dividend distribution strategy based on profitability and cash flow conditions[136]. - The board of directors is responsible for proposing dividend plans based on the company's operational performance and future funding needs[136]. - The company ensures that minority shareholders have opportunities to express their opinions and protect their rights during the dividend decision-making process[138]. - The remaining undistributed profits after the dividend distribution will be carried forward to the next fiscal year[144]. - The profit distribution plan complies with the company's articles of association and the three-year shareholder return plan (2017-2019)[145]. Financial Performance - The company's revenue for 2018 was CNY 2,550,582,514.80, representing a 15.14% increase compared to CNY 2,215,280,596.13 in 2017[17]. - The net profit attributable to shareholders for 2018 was CNY 102,307,439.99, a 41.72% increase from CNY 72,189,688.10 in 2017[17]. - The net profit after deducting non-recurring gains and losses was CNY 101,098,355.78, up 53.46% from CNY 65,879,378.44 in 2017[17]. - The company's total assets increased by 22.34% to CNY 3,570,101,510.91 at the end of 2018, compared to CNY 2,918,279,967.41 at the end of 2017[17]. - The net assets attributable to shareholders rose by 43.44% to CNY 1,745,978,192.07 at the end of 2018, compared to CNY 1,217,226,839.09 at the end of 2017[17]. - The basic earnings per share for 2018 was CNY 0.2138, a 29.11% increase from CNY 0.1656 in 2017[17]. - The diluted earnings per share for 2018 was CNY 0.2138, up 30.92% from CNY 0.1633 in 2017[17]. - The net cash flow from operating activities was negative CNY 22,908,771.33, a decrease of 126.22% compared to CNY 87,378,442.43 in 2017[17]. - The weighted average return on equity was 6.37% in 2018, slightly up from 6.14% in 2017[17]. - The company reported a total revenue of 99,734,296.8 million, with a net profit of -8,468,572.5 million for the reporting period[105]. - The company achieved a revenue of 16,030,322.9 million, with a net loss of -2,520,530.0 million in its energy services segment[104]. - The company’s total investment during the reporting period was 126,594,219.45 yuan, a decrease of 25.57% compared to the previous year[87]. Risk Management - The company emphasizes that forward-looking statements do not constitute substantial commitments to investors, highlighting the need for risk awareness[5]. - The report includes a detailed discussion of risk factors and countermeasures related to the company's future development[5]. - The company recognizes the risk of intensified market competition and plans to maintain its competitive edge through increased R&D investment and improved product quality[126]. - The company is addressing the risk of customer concentration by diversifying its market reach beyond state grid companies[127]. - The company acknowledges potential uncertainties in achieving performance commitments due to macroeconomic conditions and market competition[182]. Research and Development - The company has a strong focus on R&D, with significant investments leading to a robust portfolio of patented technologies and products[31]. - The company holds a total of 153 patent authorizations, including 26 invention patents, reflecting its strong commitment to research and development in smart distribution equipment[39]. - The company’s R&D expenses increased by 17.92% to ¥123,876,451.27 compared to the previous year[72]. - R&D investment amounted to ¥126,356,981.44, representing 4.95% of operating revenue, an increase from 4.74% in the previous year[76]. - The number of R&D personnel increased by 5.93% to 250, while the proportion of R&D personnel remained stable at approximately 12.07%[76]. Market Expansion - The report indicates that the company is exploring market expansion opportunities and potential mergers and acquisitions[10]. - The company has expanded its market presence beyond urban and rural power grids into industries such as solar thermal, chemical, metallurgy, and municipal sectors, aiming to increase its market share[41]. - The company aims to position itself as a leading manufacturer in the smart energy platform and integrated service provider market[27]. - The company is focused on developing new technologies and products in the field of distribution automation[10]. - The company is focusing on expanding its market presence through new technology development and energy management services[105]. Corporate Governance - The board of directors has confirmed that all members attended the meeting to review the annual report[4]. - The company has committed to ensuring the accuracy and completeness of the financial report, with key personnel affirming its integrity[4]. - The company emphasizes the importance of continuous innovation and talent retention to maintain its competitive advantage in the power distribution sector[128]. - The company is committed to strengthening its internal management and collaboration to ensure the successful execution of its strategic initiatives[125]. - The company has not reported any significant changes in the feasibility of its investment projects[96]. Shareholder Engagement - The company held eight shareholder meetings during the reporting period, enhancing participation from minority shareholders through combined voting methods[199]. - The company ensures that minority shareholders have opportunities to express their opinions and protect their rights during the dividend decision-making process[138]. - The company has established multiple channels for investor relations, including an interactive platform and dedicated communication methods[199]. Financial Reporting - The company reported no discrepancies between international and Chinese accounting standards for the reporting period[19]. - The company reported a significant change in accounting policies due to the Ministry of Finance's notification, affecting the financial statements from 2018 onwards[151]. - The company has not encountered any significant accounting errors that require retrospective restatement during the reporting period[154]. - The management expenses reported are RMB 121,345,735.50, an increase from RMB 111,028,705.94 in the previous period[153]. Social Responsibility - The company actively engages in social responsibility initiatives, focusing on environmental protection and community development[198]. - The company emphasizes employee rights and safety, achieving zero fatalities and passing safety standard certifications during the reporting period[200].