Financial Performance - The company's operating revenue for the first half of 2021 was ¥455,077,975.11, representing a 232.45% increase compared to ¥136,886,740.68 in the same period last year[22]. - The net profit attributable to shareholders was ¥4,159,260.22, a significant recovery from a loss of ¥12,566,043.41 in the previous year, marking a 133.10% improvement[22]. - The basic earnings per share increased to ¥0.0095 from a loss of ¥0.0286, reflecting a 133.22% increase year-on-year[22]. - The total assets as of June 30, 2021, were ¥1,270,236,953.67, up 3.49% from ¥1,227,443,543.13 at the end of the previous year[22]. - The net assets attributable to shareholders increased to ¥714,645,971.25, a 1.39% rise from ¥704,862,961.03 at the end of the previous year[22]. - The net cash flow from operating activities was negative at -¥21,678,973.72, worsening by 212.93% compared to -¥6,927,842.52 in the same period last year[22]. - The weighted average return on net assets improved to 0.59% from -1.81% in the previous year[22]. - The company reported a non-recurring gain of ¥2,318,688.60 from the disposal of non-current assets[26]. - The company reported a net cash flow from operating activities of -¥21,678,973.72, worsening by 212.93% compared to -¥6,927,842.52, attributed to slow cash collection and rising material costs[53]. - The company's net profit for the first half of 2021 was 1.34 million yuan, down 72.82% from 4.93 million yuan in the same period last year, mainly due to a credit impairment provision of 3.8 million yuan[39]. Revenue and Sales Growth - The company's operating revenue for the reporting period was 455.08 million yuan, an increase of 232.45% from 136.89 million yuan in the same period last year, driven by optimized sales strategies and the establishment of a new subsidiary[41]. - The industrial revenue segment accounted for ¥442,495,374.52, representing 97.24% of total revenue, with a year-on-year increase of 336.82%[56]. - The sales of electric power cables reached ¥281,765,462.57, a 267.35% increase from the previous year, driven by expanded sales efforts and new market opportunities[59]. - Sales in North China increased by 1156.21% year-on-year, driven by the company's increased sales efforts and successful bids for projects in the Xiong'an New Area[60]. - Sales in South China surged by 2057.37% year-on-year, attributed to the company's policy adjustments and promotion of high-tech products, leading to expanded market share[60]. - Sales in Central China rose by 1887.13% year-on-year, primarily due to participation in national grid projects and increased sales of electromagnetic wire by a subsidiary[60]. - Communication cables and optical cables sales increased by 83.50% year-on-year, resulting from a shift in sales policy and enhanced product development in the communication sector[60]. Investment and Subsidiaries - The company established a new subsidiary, Jiangsu Xunda Electric, to enter the mid-to-high-end electromagnetic wire market, offering over 100 products[31]. - The company divested its 99.3333% stake in Moen Leasing for CNY 314,632,800 to focus on its core cable business[35]. - The company has established five major industrial chains, including green energy and smart grid, to align with national industrial policies and market demands[48]. - The company has completed the business registration for Shanghai Motai New Energy Co., Ltd., focusing on solar energy technology services[74]. - The company co-invested RMB 100 million with its wholly-owned subsidiary, Moen Cable Co., Ltd., to establish Jiangsu Xunda Electrical Materials Co., Ltd., with the company contributing RMB 95 million, accounting for 95% of the registered capital, completed on January 22, 2021[133]. Research and Development - Research and development investment surged to ¥5,185,103.68, marking a 217.03% increase from ¥1,635,526.73, indicating a focus on enhancing R&D projects[53]. - The company has developed new products in the renewable energy sector, including high-voltage cables for wind power generation, enhancing its product competitiveness[44]. - The company has achieved ISO9001, ISO14000, and OHSAS18001 certifications, ensuring quality and safety in its operations[31]. Risk Management - The company has outlined future risks and strategies in its management discussion section, emphasizing the importance of risk awareness for investors[6]. - The company faces risks from macroeconomic fluctuations, with GDP growth rates declining from 6.7% in 2018 to 2.3% in 2020, potentially impacting profitability[85]. - The company is exposed to raw material price volatility, particularly copper, which significantly affects revenue and profitability due to high material cost ratios[86]. - The company faces significant credit risk in its factoring business, particularly from buyers who may default, impacting financial stability[89]. - The company has established internal control and auditing mechanisms to enhance risk identification and prevention in its factoring operations[89]. Shareholder Structure - The largest shareholder, Mr. Wen Zehong, holds 38.23% of the company's ordinary shares, totaling 167,896,000 shares[142]. - Shanghai Rongping Information Technology Co., Ltd. holds 7.78% of the shares, amounting to 34,173,659 ordinary shares[143]. - The company has a total of 10 major shareholders, with the top three holding a combined 51.06% of the shares[144]. - The company reported no changes in the controlling shareholder or actual controller during the reporting period[146]. - The company has a total of 439,200,000.00 CNY in share capital, remaining stable compared to the previous period[188]. Cash Flow and Liquidity - The cash inflow from operating activities was CNY 579,249,674.39, up from CNY 396,409,923.62 year-on-year[174]. - The net cash flow from investing activities was CNY 307,499,231.80, a significant improvement from a loss of CNY 32,884,811.55 in the previous period[174]. - Cash flow from financing activities resulted in a net outflow of CNY 309,091,927.65, compared to a smaller outflow of CNY 1,996,435.56 in the previous period[175]. - The ending cash and cash equivalents balance was CNY 35,092,219.74, down from CNY 71,576,508.50 year-on-year[175]. Compliance and Governance - The company emphasizes social responsibility, ensuring compliance with laws and protecting stakeholder interests[102]. - The company has not engaged in any non-operating fund occupation or external guarantees during the reporting period[106]. - There were no significant legal disputes or penalties against the company during the reporting period[111].

Financial Performance - The company's revenue for Q1 2021 was ¥167,047,155.73, representing a 169.74% increase compared to ¥61,929,415.15 in the same period last year[9] - Net profit attributable to shareholders was ¥2,652,607.21, a significant turnaround from a loss of ¥9,352,955.28 in the previous year, marking a 128.36% increase[9] - The basic earnings per share increased to ¥0.006 from a loss of ¥0.02, reflecting a 130.00% improvement[9] - The company's operating revenue increased by 169.74% compared to the same period last year, primarily due to increased sales efforts and market expansion[22] - Total operating revenue for Q1 2021 was CNY 167,047,155.73, compared to CNY 61,929,415.15 in the same period last year, representing a significant increase[47] - Net profit for Q1 2021 was CNY 2,559,685.29, a recovery from a net loss of CNY 9,345,459.64 in the previous year[49] - Operating profit for Q1 2021 was CNY 1,334,964.71, compared to an operating loss of CNY 11,018,380.56 in Q1 2020[53] - The company reported a total comprehensive income of CNY 793,274.44, compared to a total comprehensive loss of CNY 11,102,237.95 in Q1 2020[54] Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥56,115,722.85, worsening by 66.26% compared to -¥33,750,965.93 in the same period last year[9] - The net cash flow from operating activities decreased by 66.26% year-on-year, primarily due to increased cash payments for goods and services[23] - Cash outflow from operating activities totaled CNY 263,940,602.91, compared to CNY 210,564,657.67 in the previous year[57] - Cash and cash equivalents at the end of the period stood at CNY 27,102,534.80, down from CNY 46,762,273.34 a year earlier[59] - The total cash and cash equivalents at the end of the period were 21,336,913.06, down from 39,495,881.19, reflecting a decrease of about 46%[62] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,260,381,490.71, up 2.68% from ¥1,227,443,543.13 at the end of the previous year[9] - The total liabilities of the company were CNY 550,858,913.18, compared to CNY 520,480,650.89 at the end of 2020, reflecting an increase of about 5.8%[41] - The company's equity attributable to shareholders reached CNY 707,515,568.24, slightly up from CNY 704,862,961.03, indicating a marginal increase of about 0.4%[42] - The company's total current assets reached CNY 639,123,901.50, compared to CNY 619,780,891.26 at the end of 2020, indicating an increase of about 3.5%[39] - The total assets increased to CNY 1,387,721,725.71 from CNY 1,350,985,965.18 year-over-year[45] - Total liabilities rose to CNY 733,701,233.11, compared to CNY 697,758,747.02 in the previous year[45] Shareholder Information - The top shareholder, Wen Zehong, holds 38.23% of the shares, amounting to 167,896,000 shares, with 35,074,000 shares pledged[13] - The total number of ordinary shareholders at the end of the reporting period was 32,310[13] Research and Development - The company's research and development expenses rose by 50.69% year-on-year, driven by increased investment in new product and technology development[24] - Research and development expenses for Q1 2021 were CNY 865,440.13, compared to CNY 574,300.84 in the same period last year, indicating increased investment in innovation[48] Operational Efficiency - Accounts receivable financing decreased by 67.40% from the beginning of the period, mainly due to a reduction in notes receivable and increased payment efforts[18] - Inventory increased by 45.99% compared to the beginning of the period, reflecting higher business volume[20] - The company's sales expenses increased by 86.60% year-on-year, reflecting enhanced market promotion efforts[23] - The company reported a decrease in accounts payable from CNY 74,129,760.85 to CNY 63,394,342.15, reflecting improved cash flow management[45] Government Support - The company received government subsidies amounting to ¥1,018,869.57 during the reporting period[10] Other Financial Activities - The company established a wholly-owned subsidiary, Jiangsu Xunda Electric Materials Co., Ltd., with an investment of RMB 100 million, of which RMB 95 million was contributed by the company[26] - The net cash flow from financing activities increased by 215.08% year-on-year, attributed to business growth and increased borrowing from related parties[25] - The company did not engage in any repurchase transactions during the reporting period[15] - The company did not report any non-operating fund occupation by controlling shareholders or related parties during the reporting period[34] - The company did not require adjustments to the beginning balance sheet items under the new leasing standards[63] - The first quarter report was not audited, which may affect the reliability of the financial data presented[65]

Financial Performance - The company's operating revenue for 2020 was ¥454,271,984.60, representing a 23.77% increase compared to ¥367,023,233.67 in 2019[19] - The net profit attributable to shareholders decreased by 79.57% to ¥7,461,324.32 from ¥36,524,168.40 in the previous year[19] - The net cash flow from operating activities was negative at ¥30,911,346.90, a decline of 109.36% compared to ¥330,262,333.44 in 2019[19] - The basic earnings per share dropped by 75.00% to ¥0.02 from ¥0.08 in 2019[19] - Total assets at the end of 2020 were ¥1,227,443,543.13, an increase of 1.84% from ¥1,205,288,818.38 at the end of 2019[19] - The net assets attributable to shareholders increased by 1.07% to ¥704,862,961.03 from ¥697,401,636.71 in 2019[19] - Operating profit decreased by 77.57% to ¥11,026,291.06, while total profit fell by 78.65% to ¥10,474,583.01[59] - Net profit attributable to shareholders was ¥7,461,324.32, down 79.57% year-on-year, with basic earnings per share of ¥0.02, a decrease of 75%[59] Revenue and Profit Trends - The company's main business revenue, after deducting sales of scrap copper and other waste materials, was ¥440,842,987.65 in 2020[20] - In Q1 2020, the company reported a revenue of ¥61,929,415.15, which increased to ¥179,062,263.78 by Q4 2020, showing a significant growth trend[24] - The net profit attributable to shareholders turned from a loss of ¥9,352,955.28 in Q1 to a profit of ¥19,400,000.44 in Q4, indicating a recovery in profitability[24] - The company reported a significant increase in sales volume of electric wires and cables, reaching 12,227,119 meters, a 27.18% increase from the previous year[68] - The company successfully recovered orders in the second half of 2020, leading to increased revenue and profitability compared to the first half[61] Cash Flow and Financial Health - The company’s cash flow from operating activities was negative in Q1 and Q4, with a net cash flow of -¥33,750,965.93 in Q1 and -¥53,873,184.73 in Q4, highlighting cash flow challenges[24] - The company reported a significant decrease in net cash flow from operating activities, down 109.36% compared to the previous year, primarily due to increased cash payments for goods and reduced cash receipts from sales[80] - Cash and cash equivalents decreased by 42.78% compared to the end of the previous year, primarily due to the impact of the pandemic on sales and slow recovery of receivables[43] - Accounts receivable increased by 83.23% compared to the end of the previous year, attributed to increased sales and slow cash recovery[43] - Other receivables surged by 385.95% compared to the end of the previous year, mainly due to the payment of bid guarantees and various deposits[43] Market Strategy and Product Development - The company plans to expand its market presence by focusing on high-quality markets such as power grids, rail transit, and renewable energy, while reducing exposure to low-end markets[31] - New product development includes flexible fire-resistant cables and mineral insulated cables, aimed at enhancing profitability and market competitiveness[31] - The company emphasizes a strategic shift towards differentiated market and product strategies to optimize its market structure and improve overall performance[31] - The company aims to enhance its core competitiveness by focusing on special products and strategic large customers in the cable market, driven by the "New Infrastructure" initiative[39] - The company completed the development of 4 new products in 2020, including small-sized cables for rail transit vehicles and high-temperature resistant cables[44] Investments and Subsidiaries - The company established Jiangsu Xunda Electric Materials Co., Ltd. in December 2020 aims to create new profit growth points through the production of electromagnetic wires[29] - The company entered the electromagnetic wire market by establishing Jiangsu Xunda Electric Material Co., Ltd., aiming to enhance competitive capabilities and sustainable development[58] - The company made a significant equity investment of 20,000,000.00 in Shenzhen Huixin Communication Technology Co., Ltd., acquiring a 4.87% stake[91] - The company established a new subsidiary, Zhejiang Zechuang Enterprise Management Co., Ltd., during the reporting period, which had no significant impact on overall operations[100] Challenges and Risks - The company has acknowledged uncertainties regarding its ability to continue as a going concern[20] - The company recognizes the risk of macroeconomic fluctuations impacting the cable industry and plans to adjust its development pace and product structure accordingly[118] - The cost of raw materials, particularly copper, significantly impacts production costs, with copper prices being influenced by international market dynamics, posing risks to profitability stability[120] - The financing leasing sector is crucial for supporting the real economy, but has faced challenges due to macroeconomic slowdowns and increased competition[40] Compliance and Governance - The company emphasizes compliance with legal regulations and has established a legal due diligence system to enhance asset recovery efficiency[126] - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[138] - The company has adhered to all commitments made by its controlling shareholders and related parties during the reporting period[136] - The company has not reported any significant accounting errors requiring retrospective restatement during the reporting period[140] Shareholder Information - The largest shareholder, Wen Zehong, holds 38.23% of the shares, totaling 167,896,000 shares, with a decrease of 8,784,000 shares during the reporting period[185] - The second-largest shareholder, Shanghai Rongping Information Technology Co., Ltd., holds 7.78% of the shares, totaling 34,173,659 shares, with a decrease of 43,746,341 shares during the reporting period[185] - The total number of common shareholders at the end of the reporting period was 35,576, an increase from 32,310 at the end of the previous month[185] Future Outlook - The company aims to maintain sufficient liquidity to support its ongoing and stable operations, hence the decision not to distribute profits in 2020[134] - The company plans to enhance its product quality and service capabilities while expanding its market share through strategic development of specialized cables and modern transportation cables[119] - The company will implement significant technical upgrades, including the renovation of various machinery and equipment to enhance production efficiency[114] - The company will focus on employee training and skill development to strengthen its human resource management system, which is crucial for maintaining competitiveness[116]

Financial Performance - The company's operating revenue for 2020 was ¥454,271,984.60, representing a 23.77% increase compared to ¥367,023,233.67 in 2019[18]. - The net profit attributable to shareholders decreased by 79.57% to ¥7,461,324.32 from ¥36,524,168.40 in the previous year[18]. - The net cash flow from operating activities was negative at ¥30,911,346.90, a decline of 109.36% compared to a positive cash flow of ¥330,262,333.44 in 2019[18]. - The basic earnings per share dropped by 75.00% to ¥0.02 from ¥0.08 in 2019[18]. - Total assets at the end of 2020 were ¥1,227,443,543.13, an increase of 1.84% from ¥1,205,288,818.38 at the end of 2019[18]. - The net assets attributable to shareholders increased by 1.07% to ¥704,862,961.03 from ¥697,401,636.71 in 2019[18]. - The company reported a significant increase in the net profit excluding non-recurring gains and losses, improving by 64.05% to -¥9,578,004.31 from -¥26,639,226.28 in 2019[18]. - The company’s weighted average return on equity decreased to 1.08% from 5.38% in the previous year[18]. - Operating profit decreased by 77.57% to ¥11,026,291.06, while total profit fell by 78.65% to ¥10,474,583.01, and net profit attributable to shareholders dropped by 79.57% to ¥7,461,324.32[59]. Revenue and Sales - The revenue from the main business after deducting waste sales was ¥440,842,987.65, up from ¥367,023,233.67 in 2019[19]. - In Q1 2020, the company reported a revenue of ¥61,929,415.15, which increased to ¥179,062,263.78 by Q4 2020, showing a significant growth trend[23]. - The company reported a significant increase in sales volume of electric cables, reaching 12,227,119 meters, a 27.18% increase from the previous year[66]. - The industrial revenue accounted for 87.84% of total revenue, increasing by 37.64% year-on-year to ¥399,017,529.97[63]. - The company’s operating income in the East China region increased by 42.95% to ¥252,133,262.66, representing 55.50% of total revenue[63]. Market Strategy and Development - The company plans to expand its market presence by focusing on high-quality markets such as power grids, rail transit, and new energy, while reducing low-end market exposure[31]. - New product development includes flexible fire-resistant cables and mineral insulated cables, aimed at enhancing profitability and market competitiveness[31]. - The company aims to strengthen its position in the special cable market, targeting sectors like high-speed rail, new energy, and aerospace[32]. - The establishment of Jiangsu Xunda Electric Materials Co., Ltd. in December 2020 is expected to create new profit growth points for the company[28]. - The company entered the electromagnetic wire market by establishing Jiangsu Xunda Electric Material Co., Ltd., aiming to enhance competitive capabilities and explore new growth opportunities[58]. Financial Services and Investments - Moen Leasing's operating income was CNY 10,807,988.18, a decrease of 61.88% compared to the previous year, with net profit down 55.7% to CNY 3,703,712.56 due to reduced customer volume and declining rental income[40]. - Moen Factoring's operating income was CNY 29,696,714.78, a decrease of 20.6%, while net profit increased by 43% to CNY 15,594,218.57, attributed to reduced sales and management expenses during the pandemic[40]. - The company is committed to providing diversified financial products tailored to customer needs across various industries, including healthcare, education, and energy[33]. - Moen Investment focuses on non-performing asset recovery services, with the expected scale of non-performing loan disposal in China projected to reach CNY 4.8 trillion in 2021[41]. - The financing leasing industry is facing challenges such as a slowdown in growth and increased competition, prompting the company to shift focus towards factoring services[40]. Research and Development - The company completed the development of 4 new products in 2020, including small-sized cables for rail transit vehicles and high-temperature resistant cables for wind turbines[44]. - The company applied for 9 patents in 2020, including 2 invention patents and 7 utility model patents, enhancing its technological innovation capabilities[44]. - R&D expenses increased by 20.79% to ¥11,755,518.85, reflecting higher investment in research projects[76]. - The company has a total of 28 R&D personnel, representing 18.42% of the workforce, an increase from 15.38% in the previous year[76]. - In 2021, the company plans to complete five utility model patents and one invention patent application to improve its qualification level[111]. Risk Management - The company emphasizes a risk-first approach in its operations, aiming to manage and mitigate risks effectively in the current economic climate[40]. - The company will adapt its development pace and optimize its product structure to mitigate risks associated with macroeconomic volatility[119]. - The company is actively managing risks associated with financing leasing and commercial factoring, focusing on maintaining strong relationships with lessees and monitoring their creditworthiness[124]. - The company aims to leverage hedging tools to minimize the impact of raw material price fluctuations on its profitability[123]. - The company has implemented risk control measures for its derivative investments, including market risk and liquidity risk assessments[92]. Corporate Governance and Compliance - The company has not distributed cash dividends in the past three years, with the profit distribution policy clearly defined in its articles of association[132]. - The company will not distribute profits or convert capital reserves into share capital for the year 2020, nor will it issue bonus shares[137]. - The company has committed to fulfilling all promises made by its actual controllers and shareholders during the reporting period[138]. - The company emphasizes compliance with legal regulations and has established a legal due diligence system to enhance asset recovery efficiency[126]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[140]. Shareholder Information - The company reported a total share count of 439,200,000, with 96.36% being unrestricted shares[183]. - The total number of shareholders at the end of the reporting period is 32,310[187]. - The company has a total of 15,966,332 restricted shares at the beginning of the period, with 15,796,958 shares released during the period[185]. - The largest shareholder, Wen Zehong, has reduced his holdings by 8,784,000 shares during the reporting period[187]. - The company has not engaged in any agreed repurchase transactions during the reporting period[189].

Financial Performance - Operating revenue for the quarter reached CNY 138,322,980.14, representing a 74.16% increase year-on-year[9] - Net profit attributable to shareholders was CNY 627,367.29, a significant increase of 122.39% compared to the same period last year[9] - The basic earnings per share rose to CNY 0.0014, reflecting a 123.33% increase year-on-year[9] - The net profit attributable to shareholders for the year-to-date period was CNY -11,938,676.12, a decline of 127.29% compared to the same period last year[9] - The net profit for Q3 2020 was ¥631,111.28, a turnaround from a net loss of ¥2,803,171.76 in Q3 2019[44] - The net profit for the current period was ¥30,787,344.55, a decrease of 4.3% from ¥32,155,068.12 in the previous period[58] Cash Flow - The net cash flow from operating activities was CNY 29,889,680.35, up 60.60% from the previous year[9] - The net cash flow from operating activities for the first nine months of 2020 decreased by 72.80% to ¥22,961,837.83, mainly due to reduced cash collection from sales[21] - The net cash flow from operating activities for Q3 2020 was ¥29,889,680.35, representing a 60.60% increase compared to ¥18,611,368.92 in Q3 2019, primarily due to increased collection of receivables[22] - The total cash flow from operating activities was ¥22,961,837.83, down 72.8% from ¥84,407,366.99 in the previous period[61] - The company reported a net cash outflow from investing activities of ¥35,792,618.96, compared to a net inflow of ¥134,643,138.61 in the previous period[62] - The net cash flow from investing activities was -17,114,592.02 CNY, contrasting with a positive flow of 114,551,017.50 CNY in the previous year[66] Assets and Liabilities - Total assets increased by 10.17% to CNY 1,327,878,792 compared to the end of the previous year[9] - The company's total assets reached ¥1,327,878,792.00 as of September 30, 2020, compared to ¥1,205,288,818.38 at the end of 2019[35] - Total liabilities increased to ¥640,332,396.06 as of September 30, 2020, from ¥505,479,477.33 at the end of 2019[36] - The company's total liabilities increased to ¥780,865,563.87, compared to ¥612,685,598.30 at the end of 2019, marking a rise of 27.5%[40] - The company's total equity increased due to retained earnings, which amounted to 175,212,158.11 CNY[71] Shareholder Information - The total number of shareholders at the end of the reporting period was 38,045[13] - The largest shareholder, Wen Zehong, holds 38.23% of the shares, amounting to 167,896,000 shares[13] Research and Development - Research and development expenses in Q3 rose by 28.16% to ¥2,781,336.35, reflecting increased investment in related projects[19] - Research and development expenses increased to CNY 2,781,336.35 from CNY 2,170,265.73, reflecting a focus on innovation[47] - Research and development expenses decreased to ¥4,416,863.08 from ¥7,092,362.74, a reduction of 37.6%[56] Government Subsidies - The company received government subsidies totaling CNY 3,572,131.79 during the reporting period[10] Financial Management - Financial expenses decreased to CNY 2,056,988.18 from CNY 3,418,414.71, indicating improved cost management[47] - The company reported a credit impairment loss of CNY -2,572,176.15, compared to a gain of CNY 2,509,196.94 in the previous year[48] Investment Activities - The company made a significant investment of ¥20 million in Shenzhen Huixin Communication Co., leading to a negative cash flow from investing activities of -¥35,792,618.96[21] - The company reported a significant increase in investment income, which reached ¥49,264,377.42 compared to ¥1,240,600.00 in the previous period[56] Compliance and Adjustments - The company adjusted its financial statements to comply with new revenue and leasing standards, impacting the classification of certain liabilities[67] - The company reclassified pre-receipts of 5,034,031.98 CNY to contract liabilities as per the new revenue standards[72] - The company reclassified prepayments of CNY 5,034,031.98 to contract liabilities under the new revenue recognition standard[79] Inventory and Receivables - Accounts receivable increased by 122.72% to ¥241,246,507.00, reflecting a recovery in sales performance in the cable sector[17] - The company's inventory as of September 30, 2020, was ¥74,106,796.44, compared to ¥67,507,960.30 at the end of 2019[34] - Accounts receivable rose to ¥187,949,260.91, up 78.3% from ¥105,414,085.47 in the previous year[39]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥136,886,740.68, a decrease of 21.89% compared to ¥175,256,806.91 in the same period last year[19]. - The net profit attributable to shareholders was -¥12,566,043.41, representing a decline of 126.99% from ¥46,551,885.46 in the previous year[19]. - The net cash flow from operating activities was -¥6,927,842.52, down 110.53% from ¥65,795,998.07 in the same period last year[19]. - The company reported a basic earnings per share of -¥0.03, a decrease of 127.27% compared to ¥0.11 in the same period last year[19]. - The company achieved operating revenue of 136,886,740.68 yuan, a decrease of 21.89% year-on-year, mainly due to reduced domestic sales orders in the cable sector caused by the COVID-19 pandemic[48]. - The net profit for the first half of 2020 was a loss of CNY 12,563,123.06, compared to a profit of CNY 46,535,421.09 in the first half of 2019[178]. - The company reported a total comprehensive income total of -12,566,043.41 CNY for the current period, indicating a loss compared to the previous period[196]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,247,041,722.26, an increase of 3.46% from ¥1,205,288,818.38 at the end of the previous year[19]. - The net assets attributable to shareholders decreased by 1.80% to ¥684,835,593.30 from ¥697,401,636.71 at the end of the previous year[19]. - Cash and cash equivalents decreased by 35.04% compared to the beginning of the year, primarily due to a decline in sales and reduced cash recovery[37]. - Accounts receivable increased by 52.09% compared to the beginning of the year, mainly due to a rebound in cable business sales[37]. - Total liabilities increased to CNY 559,795,504.27 from CNY 505,479,477.33, marking an increase of about 10.7%[169]. - The company's equity attributable to shareholders decreased to CNY 684,835,593.30 from CNY 697,401,636.71, a decline of approximately 1.9%[170]. Business Segments and Operations - The company operates in two main business segments: cable and financial services, focusing on high-end special cable research, manufacturing, and sales[26]. - The leasing and factoring business achieved operating revenue of 18.30 million yuan, a decrease of 45.83% compared to 33.77 million yuan in the same period last year[34]. - The company established special cable divisions to accelerate the development and promotion of new products, including flexible fire-resistant cables and B1-grade environmentally friendly power cables[41]. - The company has ongoing projects related to the production of aluminum alloy cables and inorganic mineral insulated fire-resistant cables, indicating a focus on infrastructure development[78]. Research and Development - The company is committed to enhancing its comprehensive innovation capability and technical strength in the cable industry through increased R&D investment[33]. - Research and development investment decreased by 66.77% to ¥1,635,526.73 from ¥4,922,097.01, reflecting a reduction in project funding[52]. - The company aims to increase its research and development in specialty cables and modern transportation cables to maintain a competitive edge[96]. Market and Competition - The cable industry is experiencing rapid growth, with over 4,000 enterprises and the highest output value globally, driven by infrastructure development[33]. - The company faces intense competition in the cable manufacturing industry, with the top ten companies holding less than 10% market share in China[96]. - The company is focusing on risk management in its financial services, particularly in the context of increasing non-performing loans due to economic pressures[35]. Investments and Financial Management - The company invested 20 million in Shenzhen Huixin Communication Technology Co., Ltd. as a significant change in equity assets[37]. - The company has ongoing significant non-equity investments, with a total fixed asset investment of CNY 138,837,394.41 as of the reporting period[78]. - The company has no derivative investments during the reporting period[85]. Risk Management - The company anticipates significant risks due to macroeconomic fluctuations, which could impact its operational performance and profitability[93]. - The company plans to enhance its product structure and optimize its industrial layout to mitigate risks from macroeconomic volatility[94]. - Raw material prices, particularly copper and aluminum, account for approximately 80% of product costs, posing a risk to stable profitability[97]. Corporate Governance and Shareholder Information - The company has not issued any new securities or listed additional shares during the reporting period[147]. - The largest shareholder, Wen Zehong, holds 40.23% of the shares, totaling 176,680,000 shares, with 35,074,000 shares pledged[149]. - The company’s board of directors and supervisory board saw the departure of two members due to term expiration[159]. Environmental and Social Responsibility - The company and its subsidiaries are not classified as key pollutant discharge units by environmental protection authorities[136]. - No significant environmental violations or penalties were reported during the reporting period[136]. - The company has not initiated any targeted poverty alleviation efforts during the reporting period and has no plans for such initiatives[137].

Financial Performance - The company's operating revenue for Q1 2020 was ¥61,929,415.15, a decrease of 21.48% compared to ¥78,869,798.77 in the same period last year[10] - The net profit attributable to shareholders was -¥9,352,955.28, representing a decline of 116.32% from ¥57,317,546.35 in the previous year[10] - The basic earnings per share were -¥0.02, a decrease of 115.38% compared to ¥0.13 in the previous year[10] - The company's operating profit for Q1 2020 was -CNY 8,483,918.97, compared to CNY 68,587,931.70 in Q1 2019[44] - The total comprehensive income for Q1 2020 was -CNY 9,345,459.64, compared to CNY 57,300,814.64 in Q1 2019[44] Cash Flow - The net cash flow from operating activities was -¥33,750,965.93, down 158.04% from ¥58,147,718.72 in the same period last year[10] - The cash flow from operating activities for Q1 2020 was -CNY 33,750,965.93, a decrease from CNY 58,147,718.72 in the same period last year[51] - The total cash inflow from operating activities was CNY 176,813,691.74, compared to CNY 286,025,062.12 in Q1 2019, reflecting a decrease of 38.3%[51] - The net cash flow from operating activities for the first quarter was -17,214,086.49 CNY, a significant decrease compared to 87,636,938.67 CNY in the previous period[54] - The company incurred cash outflows of 49,215,728.97 CNY for operating activities, a decrease from 165,006,554.89 CNY in the previous period[54] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,157,177,658.36, a decrease of 3.99% from ¥1,205,288,818.38 at the end of the previous year[10] - The total liabilities decreased to CNY 578,488,446.26 from CNY 612,685,598.30 year-over-year[39] - Total assets as of March 31, 2020, were CNY 1,179,065,430.50, down from CNY 1,224,364,820.49 at the end of 2019[39] - Cash and cash equivalents decreased by 54% compared to the beginning of the period, mainly due to increased investment in subsidiaries and prepayments for raw materials[18] Operating Costs and Expenses - Operating costs decreased by 13.25% year-on-year, reflecting the decline in operating revenue[19] - Sales expenses decreased by 38.87% compared to the previous year, influenced by the reduction in operating revenue[19] - Tax and additional charges decreased by 89.90% year-on-year, mainly due to a reduction in value-added tax payable[19] - R&D expenses decreased by 72.12% compared to the same period last year, primarily due to delays in project investments caused by COVID-19[20] - The company reported a significant reduction in research and development expenses to CNY 574,300.84 from CNY 2,060,150.16[42] Investment Activities - Investment income decreased by 97.5% year-on-year, mainly due to reduced investment income from the cancellation of a subsidiary[20] - The net cash flow from investing activities decreased by 100.68% year-on-year, mainly due to the disposal of a wholly-owned subsidiary in the previous year[22] - The net cash flow from investing activities was -30,829,243.30 CNY, compared to 122,153,198.80 CNY in the previous period, indicating a decline in investment returns[56] - The cash inflow from investment activities was 0.00 CNY, compared to 128,340,600.00 CNY in the previous period, indicating no new investment recoveries[54] Borrowings and Financing - Net cash flow from financing activities increased by 84.33% year-on-year, primarily due to a reduction in borrowings from the actual controller[22] - Total cash inflow from financing activities was 287,050,000.00 CNY, an increase from 247,000,000.00 CNY in the previous period[56] - The company received 134,000,000.00 CNY in borrowings during the quarter, compared to 247,000,000.00 CNY in the previous period[56] Other Financial Metrics - The company recorded an asset impairment loss of CNY 7,875,720.79 in Q1 2020, indicating potential challenges in asset management[47] - The company did not undergo an audit for the first quarter report[58]

Financial Performance - The company's operating revenue for 2019 was ¥367,023,233.67, a decrease of 37.26% compared to ¥585,013,110.12 in 2018[19] - Net profit attributable to shareholders for 2019 was ¥36,524,168.40, an increase of 335.67% from ¥8,383,369.84 in 2018[19] - The net cash flow from operating activities reached ¥330,262,333.44, representing a significant increase of 411.30% compared to ¥64,592,885.29 in 2018[19] - The basic earnings per share for 2019 was ¥0.08, up 300.00% from ¥0.02 in 2018[19] - Total assets at the end of 2019 were ¥1,205,288,818.38, a decrease of 24.38% from ¥1,593,799,695.45 at the end of 2018[19] - The net assets attributable to shareholders increased by 5.53% to ¥697,401,636.71 at the end of 2019 from ¥660,877,468.31 at the end of 2018[19] - The company experienced a net loss attributable to shareholders, excluding non-recurring gains and losses, of ¥26,639,226.28 in 2019, worsening from a loss of ¥4,240,474.42 in 2018[19] - The company reported a total non-operating income of ¥63,163,394.68, with a significant tax impact of ¥11,290,867.29[25] - The company reported a decrease in financial expenses by 43.31% to ¥17,067,963.31, mainly due to reduced interest expenses from decreased borrowings[71] Investments and Subsidiaries - The company has established a new subsidiary, Moen Cable Co., Ltd., with an investment of ¥50 million to focus on high-speed rail, 5G, and military applications for special cables[34] - The company completed the transfer of 100% equity in Mo Hong Information Technology Co., Ltd., resulting in an investment income of CNY 2.265 million, positively impacting the company's current performance[96] - Moen Leasing, a subsidiary, reported total assets of CNY 508.36 million and a net profit of CNY 8.36 million for the reporting period[96] - Moen Commercial Factoring Co., Ltd. generated a net profit of CNY 10.91 million, contributing significantly to the company's overall profitability[96] - The company approved the dissolution of subsidiaries Mo Yue Trading, Shanghai Moen Cable, and Fujian Pingtan Moan Asset Management to streamline resources and reduce management costs[177] Market and Industry Trends - The revenue from the cable industry in China is projected to reach ¥1.72 trillion by 2022, indicating a growth trend despite current market challenges[32] - The cable industry is experiencing a shift towards high-end products, with special cables expected to be a major growth point due to their high technical content and added value[32] - The company anticipates that the electric wire and cable industry will undergo consolidation, with a shift from price competition to brand and quality competition due to increasing downstream demand[98] - The electric wire and cable manufacturing industry in China is characterized by low concentration, with less than 10% market share held by leading companies, indicating potential for future mergers and acquisitions[98] - The company aims to focus on high-tech, high-value special cables, while also developing financial services like asset disposal and leasing[104] Research and Development - The company invested ¥9,732,227.60 in R&D, which is a decrease of 40.89% compared to the previous year, accounting for 2.65% of operating revenue[72] - The company completed 5 new product developments and filed 6 patent applications in 2019, enhancing its market competitiveness[39] - The company is focusing on the development and promotion of new products, including flexible fire-resistant cables and wind energy cables, to improve profitability and market competitiveness[42] - The company is enhancing its technological capabilities through the establishment of an academician workstation and close collaboration with experts[34] Financial Management and Strategy - The company plans not to distribute cash dividends or issue bonus shares for the year[7] - The company plans to maintain sufficient liquidity for operations and development, which is why it will not distribute profits or increase capital reserves in 2020[123] - The company is focusing on improving production processes to enhance product quality and reduce material consumption, thereby mitigating the impact of raw material price fluctuations[111] - The company has established a management system for financing lease assets to safeguard against risks associated with lessee creditworthiness[113] - The company emphasizes the importance of internal controls and risk management to address potential moral hazards as its business scales[115] Compliance and Governance - The company has implemented changes in accounting policies and estimates as per the new financial reporting standards effective from January 1, 2019[130] - The company has fulfilled all commitments made by its actual controllers and shareholders during the reporting period[125] - The company has established measures to ensure that executive compensation aligns with performance and shareholder returns[127] - The company has not engaged in any related party transactions during the reporting period[150] - The company has not been penalized for environmental violations during the reporting period and complies with relevant environmental laws[173] Shareholder Information - The total number of shares outstanding is 439,200,000, with 94.66% being unrestricted shares[180] - The largest shareholder, Wen Zehong, holds 40.23% of the shares, totaling 176,680,000 shares, with 35,074,000 shares pledged[185] - The total number of common shareholders at the end of the reporting period was 43,931, an increase from 40,173 in the previous period[184] - The company has not distributed any cash dividends for the years 2017, 2018, and 2019, despite reporting profits and having positive distributable profits for common shareholders[119] - The company has no reported equity interests in other listed companies during the reporting period[187]

Financial Performance - Operating revenue fell by 50.66% to CNY 79,422,028.81 for the current period, and decreased by 41.72% to CNY 254,678,835.72 year-to-date[10] - Net profit attributable to shareholders was a loss of CNY 2,802,545.69, a decrease of 47.52% compared to the same period last year[10] - Basic earnings per share were -0.006 CNY, a decrease of 50% compared to the same period last year[10] - Operating income decreased by 41.72% year-on-year, mainly due to reduced revenue from the cable segment and decreased business volume of subsidiary Moan Investment[19] - Total operating revenue for Q3 2019 was ¥79,422,028.81, a decrease of 50.7% compared to ¥160,975,985.79 in the same period last year[44] - Net loss for Q3 2019 was ¥2,803,171.76, an improvement from a net loss of ¥5,328,453.23 in Q3 2018[46] - The company reported a basic earnings per share of -0.006, an improvement from -0.012 in the same quarter last year[46] - Total operating revenue for the current period was ¥254,678,835.72, a decrease of 41.7% compared to ¥437,000,340.37 in the previous period[51] - Net profit for the current period was ¥43,732,249.33, compared to ¥6,078,522.27 in the previous period, indicating a significant increase[53] Assets and Liabilities - Total assets decreased by 13.36% to CNY 1,380,937,818.98 compared to the end of the previous year[10] - Total current assets decreased to CNY 661,643,754.33 from CNY 752,983,386.32, a decline of approximately 12.1%[34] - Total non-current assets decreased to CNY 719,294,064.65 from CNY 840,816,309.13, a decline of approximately 14.4%[35] - Total liabilities decreased to CNY 673,971,278.09 from CNY 930,565,403.89, a reduction of about 27.6%[36] - Total current liabilities decreased to CNY 485,740,977.24 from CNY 739,826,789.76, a decline of approximately 34.4%[36] - The company’s total assets decreased to ¥1,249,869,897.90 from ¥1,428,087,238.62, a decline of 12.5%[42] - The company’s total liabilities decreased to ¥627,415,446.24 from ¥837,787,855.08, reflecting a reduction of 25.1%[42] Cash Flow - The net cash flow from operating activities increased by 172.01% to CNY 18,611,368.92 for the current period[10] - Net cash flow from operating activities decreased by 37.55% year-on-year, primarily due to a decrease in cash received from sales of goods and services[20] - Cash inflow from operating activities totaled CNY 620,968,337.77, a decrease of approximately 19.2% compared to CNY 768,222,904.45 in the previous year[60] - The net cash flow from operating activities was CNY 84,407,366.99, down 37.5% from CNY 135,169,415.84 in the same period last year[62] - Cash flow from investing activities showed a net inflow of CNY 134,643,138.61, a significant improvement compared to a net outflow of CNY 13,003,918.27 in the previous year[62] - Cash flow from financing activities resulted in a net outflow of CNY 244,414,072.11, worsening from a net outflow of CNY 124,946,349.16 in Q3 2018[63] Shareholder Information - The total number of shareholders at the end of the reporting period was 46,872[14] - The largest shareholder, Wen Zehong, holds 40.23% of the shares, amounting to 176,680,000 shares[14] - The company did not engage in any repurchase transactions during the reporting period[15] Investments and Income - Investment income increased by 222.73% year-on-year, mainly due to the disposal of 100% equity of subsidiary Shanghai Mohong Information Technology Co., Ltd.[20] - The company received government subsidies totaling RMB 1,164,800 during the reporting period[21] - Non-recurring gains and losses totaled CNY 57,840,194.26, primarily from the disposal of a subsidiary[11] Changes in Financial Position - Long-term equity investments increased by 56.25% compared to the beginning of the period, mainly due to increased long-term equity investment in subsidiary Moan Investment[18] - Deferred tax assets decreased by 57.9% compared to the beginning of the period, mainly due to the reversal of deferred tax assets from previous years' losses[18] - Retained earnings increased to CNY 184,575,313.35 from CNY 140,825,973.58, an increase of approximately 30.9%[37] - Total equity increased to CNY 706,966,540.89 from CNY 663,234,291.56, reflecting an increase of about 6.6%[37] Research and Development - Research and development expenses for Q3 2019 were ¥2,170,265.73, compared to ¥2,819,507.79 in the previous year, indicating a decrease of 23%[44] - Research and development expenses were ¥7,092,362.74, slightly down from ¥7,291,043.27 in the previous period[51]

Financial Performance - The company's operating revenue for the first half of 2019 was ¥175,256,806.91, a decrease of 36.51% compared to ¥276,024,354.58 in the same period last year[18]. - The net profit attributable to shareholders of the listed company reached ¥46,551,885.46, representing a significant increase of 311.28% from ¥11,318,703.07 in the previous year[18]. - The net cash flow from operating activities was ¥65,795,998.07, down 48.73% from ¥128,327,376.26 in the same period last year[18]. - The basic earnings per share increased to ¥0.11, up 266.67% from ¥0.03 in the previous year[18]. - Total assets at the end of the reporting period were ¥1,410,724,392.81, a decrease of 11.49% from ¥1,593,799,695.45 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company increased to ¥707,429,353.77, up 7.04% from ¥660,877,468.31 at the end of the previous year[18]. - The company reported non-recurring gains of ¥56,142,916.89, primarily from the disposal of a wholly-owned subsidiary and government subsidies[23]. - The company’s net profit attributable to the parent company was CNY 187,377,859.04, an increase from CNY 140,825,973.58 in the same period of 2018, representing a growth of 33.1%[162]. - The total profit for the first half of 2019 was CNY 55,524,337.07, compared to CNY 19,097,617.81 in the same period of 2018, indicating an increase of 190.0%[170]. Revenue and Sales - The company achieved operating revenue of RMB 175.26 million, a decrease of 36.51% compared to the same period last year, primarily due to a 39.3% decline in cable revenue to RMB 140.69 million[50]. - The leasing and factoring business achieved operating income of 33.77 million yuan, a growth of 46.45% compared to 23.06 million yuan in the same period last year[31]. - The factoring company realized operating income of 23.04 million yuan, a significant increase of 439.68% compared to 426.9 thousand yuan in the same period last year[31]. - The revenue from power cables was RMB 120,415,686.85, representing 68.71% of total revenue, but decreased by 42.92% year-on-year[58]. - The company reported a significant decline in the disposal of non-performing assets, with revenue dropping by 96.32% to RMB 792,452.83[58]. Investment and R&D - The company’s R&D investment increased by 10.08% to RMB 4.92 million, reflecting a commitment to product innovation and development[53]. - The company completed the development of new products, including aluminum alloy power cables for wind power equipment, and obtained two utility model patents[34]. - The company has ongoing investments in new technologies and market expansion strategies, although specific figures were not disclosed in the report[162]. - The company’s cumulative actual investment in the aluminum alloy cable and inorganic mineral insulation fire cable expansion project reached ¥10,439,870, representing 65% of the planned investment of ¥80,048,000[75]. Market and Industry Trends - The cable industry is experiencing a slowdown in market growth due to economic transitions, but sales scale is gradually recovering with supply-side reforms[27]. - The sales revenue of China's wire and cable industry in 2018 exceeded 1.4 trillion yuan, showing a slight increase[30]. - The company aims to reduce low-end market contracts and accelerate the development of high-quality customer markets, particularly in the railway and construction sectors[37]. - The establishment of the Lingang New Area aims to enhance the company's competitiveness in the wire and cable business by aligning with national economic development strategies[40]. Cash Flow and Financial Management - The company reported a significant decrease in cash flow from operating activities, down 48.73% to RMB 65.80 million, primarily due to reduced cash receipts from sales[53]. - The company’s financial expenses decreased by 40.04% to RMB 9.27 million, attributed to a reduction in borrowings and interest expenses[53]. - The cash flow from financing activities included cash received from borrowings amounting to ¥608,800,000.00, an increase from ¥338,200,000.00 in the same period last year[180]. - The company recorded a net cash inflow from investment activities of ¥121,667,310.50, a significant improvement from a net outflow of -¥2,209,007.55 in the previous year[183]. Shareholder and Equity Information - The total number of shareholders at the end of the reporting period was 46,129[142]. - The largest shareholder, Wenze Hong, holds 40.23% of the shares, totaling 176,680,000 shares, with no changes reported during the period[142]. - The company reported a total of 23,449,400 restricted shares at the beginning of the period, which decreased to 22,855,300 by the end of the period[140]. - The company has not reported any share repurchase or issuance activities during the reporting period[138]. Risk Management and Compliance - The company is focusing on risk management and quality control to enhance operational efficiency and reduce economic losses from quality issues[46]. - The financing leasing and commercial factoring sectors present credit risks, particularly concerning the ability of lessees and buyers to fulfill payment obligations[91]. - The company is implementing measures to enhance risk management in financing leasing, including regular assessments of client creditworthiness and establishing internal control systems[92]. - The company is committed to complying with regulatory policies affecting the non-performing asset management sector to ensure lawful operations[94]. Corporate Governance and Meetings - The first extraordinary general meeting of 2019 had an investor participation rate of 62.77% on January 29, 2019[97]. - The second extraordinary general meeting of 2019 had an investor participation rate of 17.74% on March 22, 2019[97]. - The annual general meeting of 2018 also had an investor participation rate of 62.77% on May 24, 2019[97]. - The company did not have any major litigation or arbitration matters during the reporting period[102].