Financial Performance - Operating revenue for the reporting period reached CNY 282,935,729.89, a 46.16% increase year-on-year[7] - Net profit attributable to shareholders surged by 379.64% to CNY 37,722,473.75 for the reporting period[7] - Basic earnings per share rose by 380.00% to CNY 0.07[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 356.72% to CNY 36,070,601.46[7] - Total revenue for the period reached ¥762,909,069.80, an increase of 31.74% compared to ¥579,093,901.30 in the same period last year, primarily due to increased sales of power transmission and transformation equipment[15] - The total profit for the period was ¥107,516,823.66, a significant increase of 417.30% compared to a loss of ¥33,885,249.73 in the previous year, driven by higher revenue from power transmission and transformation equipment[15] - Net profit for the third quarter was ¥37,367,903.51, compared to a net loss of ¥14,411,268.70 in the same quarter last year[39] - Net profit for the period was CNY 92,438,767.41, a significant recovery from a net loss of CNY 35,466,172.40 in the same period last year[47] Assets and Liabilities - Total assets increased by 8.24% to CNY 2,638,028,028.97 compared to the end of the previous year[7] - Total liabilities increased to CNY 1,406,697,366.85 from CNY 1,298,336,737.60, marking a growth of about 8.4%[30] - The company's total assets reached CNY 2,638,028,028.97, up from CNY 2,437,228,632.31, reflecting an increase of approximately 8.2%[31] - Short-term borrowings increased by 90.23% to ¥325,098,500.00 from ¥170,900,000.00, reflecting a rise in bank loans during the period[15] - Long-term borrowings surged by 2542.25% to ¥30,361,816.00 from ¥1,149,089.00, mainly due to the addition of a three-year bank loan of ¥30 million[15] - The company's total liabilities decreased to ¥797,862,733.15 from ¥835,973,405.29 year-over-year, reflecting a reduction of approximately 4.5%[36] - The total current liabilities include a non-current liability due within one year of CNY 199,000,000[68] Cash Flow - The net cash flow from operating activities was negative at CNY -36,106,228.79, a decrease of 930.81% compared to the same period last year[7] - The company's cash and cash equivalents decreased to CNY 275,324,964.48 from CNY 306,819,532.88, representing a decline of about 10.2%[28] - The net cash flow from operating activities was -¥62.86 million, an improvement from -¥100.13 million in the previous period, indicating a reduction in cash outflow by approximately 37.24%[56] - The net cash flow from investing activities was -¥100.83 million, worsening from -¥5.10 million in the previous period, showing a significant increase in cash outflow for investments[56] - The net cash flow from financing activities was ¥128.94 million, up from ¥48.32 million in the previous period, representing an increase of approximately 167.61%[56] Shareholder Information - The total number of shareholders at the end of the reporting period was 37,216[11] - The top shareholder, Ma Xiaowu, holds 19.72% of the shares, totaling 104,388,594 shares[11] Expenses and Investments - Operating expenses rose by 97.56% to ¥8,989,771.42, primarily due to increased interest expenses from bank loans[15] - Research and development expenses for the quarter were ¥8,452,731.49, down from ¥15,237,234.45 in the same period last year, indicating a 44.5% decrease[38] - Research and development expenses were CNY 28,830,434.20, down 21.6% from CNY 36,784,565.64 in the previous period[45] - Cash paid for the acquisition of fixed assets and other long-term assets increased by 1415.70% to ¥77,592,516.04, mainly due to investments in the Shaanxi Chunhua wind power project[15] Future Plans - The company plans to raise funds through a non-public offering of A-shares, with a revised target of up to ¥37,585.47 million for the construction of the Jinzhou production base phase II project[17] - The company plans to focus on market expansion and new product development in the upcoming quarters to sustain growth momentum[39] - The company aims to continue expanding its market presence and enhancing product development in the upcoming quarters[48]

证券代码：002452 证券简称：长高集团 公告编号：2019-53 湖南长高高压开关集团股份公司 关于参加 2019 年湖南辖区上市公司 投资者网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 为进一步加强与投资者的沟通交流，使广大投资者能更深入全面地了解公司 情况，湖南长高高压开关集团股份公司（以下简称"公司"）将参加由中国证券 监督管理委员会湖南监管局指导，湖南省上市公司协会和深圳市全景网络有限公 司联合举办的"2019 年湖南辖区上市公司投资者网上集体接待日"活动。现将 有关事项公告如下： 本次投资者网上集体接待日活动将通过深圳市全景网络有限公司提供的网 上平台，采取网络远程的方式举行，投资者可以登录"全景·路演天下"网站 （http://rs.p5w.net）或关注微信公众号（全景财经）参与本次投资者集体接待日 活动，活动时间为 2019 年 9 月 10 日（星期二）下午 15:00－17:00。 届时公司董事会秘书林林先生将通过网络文字交流形式与投资者进行沟通 与交流。 欢迎广大投资者积极参与。 特此公告。 湖南长高高压开 ...

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 479,973,339.91, representing a 24.50% increase compared to CNY 385,510,814.96 in the same period last year[17]. - The net profit attributable to shareholders of the listed company reached CNY 57,102,316.61, a significant increase of 388.78% from a loss of CNY 19,773,574.82 in the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 55,467,551.01, up 370.38% from a loss of CNY 20,514,834.55 in the same period last year[17]. - The basic earnings per share increased to CNY 0.11, compared to a loss of CNY 0.04 per share in the previous year, marking a 375.00% improvement[17]. - The total operating revenue for the first half of 2019 was CNY 479,973,339.91, an increase of 24.5% compared to CNY 385,510,814.96 in the same period of 2018[151]. - The net profit for the first half of 2019 was CNY 55,070,863.90, a significant recovery from a net loss of CNY 21,054,903.70 in the same period of 2018[152]. - The total profit for the first half of 2019 was CNY 1,855,741.90, compared to a loss of CNY 557,517.41 in the same period of 2018[157]. - The total comprehensive income for the first half of 2019 was CNY 429,160.77, compared to a loss of CNY 1,518,495.69 in the first half of 2018[158]. Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 2,627,303,726.12, reflecting a 7.80% increase from CNY 2,437,228,632.31 at the end of the previous year[17]. - The total liabilities were CNY 1,433,340,967.51, compared to CNY 1,298,336,737.60, showing an increase of around 10.4%[144]. - The company's total liabilities decreased to CNY 795,413,291.12 in the first half of 2019 from CNY 835,973,405.29 in the previous year, a reduction of approximately 4.8%[149]. - The total assets at the end of the reporting period amounted to RMB 1,202,643.4 million[178]. Cash Flow - The net cash flow from operating activities improved to -CNY 26,754,501.41, a 72.31% reduction in loss compared to -CNY 96,628,077.02 in the same period last year[17]. - The company’s cash flow from operating activities increased by 72.31% year-on-year, primarily due to a reduction in cash payments for goods and services[43]. - Cash inflow from operating activities totaled CNY 504,958,644.97, while cash outflow was CNY 531,713,146.38, resulting in a net cash flow from operating activities of CNY -26,754,501.41[161]. - The net cash flow from financing activities was CNY 149,662,817.62, up from CNY 50,545,959.92 in the first half of 2018[162]. Investments and Projects - The company plans to invest RMB 58.96 million in the Shaanxi Chunhua wind power project, which is expected to enhance its long-term development in power engineering services[39]. - The company is currently investing in the Shaanxi Chunhua Wind Power Project, with a total planned investment of CNY 58,960,000, of which CNY 2,592,450 has been invested so far, indicating a project progress of 4.4%[67]. - The Jinzhou Production Base Phase II project has a total planned investment of CNY 24,832,460, with CNY 309,580 invested in the reporting period, showing a project progress of 1.88%[68]. Research and Development - The company applied for 15 invention patents and 19 utility model patents during the reporting period, with 4 invention patents and 14 utility model patents granted[35]. - The company’s research and development investment amounted to RMB 20.38 million, a decrease of 5.43% compared to the previous year[43]. - Research and development expenses for the first half of 2019 were CNY 20,377,702.71, a decrease of 5.4% from CNY 21,547,331.19 in the previous year[151]. Market and Business Strategy - The company has established a complete industrial layout focusing on power transmission and transformation, with a dual business model in equipment manufacturing and power engineering services[30]. - The company is actively involved in the development of new energy vehicles and charging infrastructure, collaborating with various automotive manufacturers[26]. - The company aims to enhance its market position through technological innovation and quality assurance in its high-voltage switch manufacturing[30]. - The company plans to strengthen its market share in the isolation switch segment while accelerating product development for circuit breakers and GIS[73]. Shareholder Information - The total number of shares remained at 529,400,000, with a slight increase of 7,500 shares due to executive lock-up[120]. - Major shareholder Ma Xiaowu holds 104,388,594 shares, representing 17.83% of total shares[126]. - The total number of shareholders at the end of the reporting period is 38,805[125]. Legal and Compliance - The company is involved in a significant litigation case regarding a share transfer dispute with an amount of approximately 10,690.48 million yuan[91]. - The company received a civil lawsuit and had some bank accounts frozen, as disclosed in an announcement on July 1, 2019[117]. - The half-year financial report has not been audited[88]. Environmental and Social Responsibility - The company has a complete environmental impact assessment and holds a pollutant discharge permit, although it has not been updated due to local environmental management requirements[115]. - The company reported no significant environmental pollution issues, with all monitored pollutants within acceptable limits[114]. - The company has no plans for targeted poverty alleviation during the reporting period[117].

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion yuan, representing a year-on-year growth of 15%[13]. - The net profit attributable to shareholders reached 150 million yuan, up 20% compared to the previous year[13]. - The company's operating revenue for 2018 was ¥1,053,322,278.78, a decrease of 25.60% compared to ¥1,415,714,602.71 in 2017[18]. - The net profit attributable to shareholders was -¥246,055,861.04, representing a decline of 504.05% from a profit of ¥60,897,548.46 in 2017[18]. - The net cash flow from operating activities was -¥67,728,174.06, down 122.02% from ¥307,604,775.53 in 2017[19]. - The basic earnings per share for 2018 was -¥0.465, a decrease of 504.35% from ¥0.115 in 2017[19]. - The company reported a significant impairment of goodwill amounting to 182.30 million yuan due to the poor performance of Hubei Huawang Power Engineering Co., Ltd.[32]. - The company reported a total operating revenue of 1,053.32 million CNY for the year, with a net profit attributable to the listed company of -246.06 million CNY, failing to meet the initial operational targets[88]. Market Expansion and Strategy - User data indicates a growth in customer base, with an increase of 25% in active users over the past year[13]. - The company plans to expand its market presence by entering three new provinces in the upcoming fiscal year[17]. - Future guidance estimates a revenue growth of 10-15% for the next fiscal year, driven by new product launches and market expansion[13]. - The company is exploring strategic partnerships for technology sharing and joint ventures in renewable energy sectors[17]. - The company plans to expand its business in the electric power industry, focusing on traditional equipment sales and new energy vehicle components[26]. - The company aims to improve its competitive edge and profitability through ongoing product and technology enhancements[42]. - The company is actively pursuing the development of new products, including 550kV GIS and standardized ring network cabinets, to enhance product quality and customer satisfaction[91]. - The company is focusing on the opportunities presented by the national power grid's construction of a ubiquitous power Internet of Things[90]. Research and Development - Research and development efforts have led to the introduction of two new high-voltage switch products, expected to contribute an additional 100 million yuan in revenue[17]. - The company applied for 38 invention patents and 43 utility model patents during the reporting period, with 5 invention patents and 47 utility model patents granted[35]. - The company completed eight new technology product development projects and made significant progress on four forward-looking development projects in 2018[63]. - The company developed new products for flexible DC transmission technology, including high-parameter DC switches and grounding switches, which are now being supplied for the Zhangjiakou-Beijing 500kV flexible DC project[63]. Operational Efficiency and Cost Management - The company engaged in a strategy of enhancing procurement management to reduce costs and improve quality[26]. - The total operating costs for power transmission and transformation equipment increased by 5.36% to CNY 499,171,824.18, with raw materials accounting for 83.80% of the costs[55][57]. - The labor costs for power transmission and transformation equipment rose by 32.02% to CNY 21,481,166.97, reflecting increased workforce expenses[55]. - The company has implemented measures to mitigate risks associated with raw material price fluctuations, including strict inventory control and annual procurement agreements[97]. Shareholder and Dividend Information - The company has no plans to distribute cash dividends or issue bonus shares for the current fiscal year[5]. - The company completed a cash dividend distribution of 15.88 million CNY for the 2017 fiscal year, distributing 0.3 CNY per share to shareholders[104]. - The cash dividend distribution plan for 2018 is not applicable as the company reported a loss[107]. - The company has fulfilled its commitments made during the acquisition period[109]. Risk Management - The management highlighted potential risks including market fluctuations and raw material price changes, which could impact profitability[4]. - The company established a robust internal risk control system focusing on project, financial, and legal risk management[41]. - The company has a clear strategy to avoid politically unstable regions for EPC projects, focusing on risk management and project control to ensure successful execution[99]. Environmental and Social Responsibility - The company is classified as a key pollutant discharge unit by environmental protection authorities[152]. - The company has developed emergency response plans for various environmental incidents, including wastewater and hazardous waste[153]. - The company has a complete environmental impact assessment and holds a pollutant discharge permit[153]. Employee and Management Information - The total number of employees in the company is 1,596, with 140 in the parent company and 1,456 in major subsidiaries[189]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounts to 2,421,000 CNY[187]. - The company has established a salary performance management committee to dynamically adjust the salary system according to market changes[192]. - The performance bonus is calculated based on individual and departmental performance scores, with a weight of 70% for individual performance and 30% for departmental performance[199].

Important Notice [Management Statement](index=2&type=section&id=The%20Board%20of%20Directors%2C%20Board%20of%20Supervisors%2C%20and%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management%20Guarantee%20the%20Truthfulness%2C%20Accuracy%2C%20and%20Completeness%20of%20the%20Quarterly%20Report%20Content) The company's management guarantees the truthfulness, accuracy, and completeness of this quarterly report - The company's management collectively guarantees the **truthfulness, accuracy, and completeness** of this quarterly report[3](index=3&type=chunk) - The company's legal representative, chief accounting officer, and head of the accounting department **guarantee the truthfulness, accuracy, and completeness** of the financial statements[4](index=4&type=chunk) Company Profile [Key Accounting Data and Financial Indicators](index=3&type=section&id=I.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) The company achieved a turnaround to profitability in Q1 2019 with significant improvement in cash flow Key Financial Indicators for Q1 2019 | Indicator | Current Period | Same Period Last Year | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 167,058,716.22 | 170,320,305.74 | -1.91% | | Net Profit Attributable to Shareholders (Yuan) | 3,594,160.05 | -15,833,762.66 | 122.70% | | Net Cash Flow from Operating Activities (Yuan) | -17,942,628.13 | -46,605,800.98 | 61.50% | | Basic Earnings Per Share (Yuan/Share) | 0.007 | -0.030 | 123.33% | | Total Assets (Yuan) | 2,658,944,462.94 | 2,437,228,632.31 | 9.10% (vs. Prior Year-End) | | Net Assets Attributable to Shareholders (Yuan) | 1,114,339,540.92 | 1,110,745,380.87 | 0.32% (vs. Prior Year-End) | - Non-recurring gains and losses totaled **1.719 million Yuan** during the reporting period, primarily from government subsidies[8](index=8&type=chunk) [Shareholder Information](index=4&type=section&id=II.%20Total%20Number%20of%20Shareholders%20and%20Shareholding%20of%20Top%20Ten%20Shareholders%20at%20Period-End) At the end of the reporting period, the company had 43,449 common shareholders, with the largest shareholder holding 19.72% - At the end of the reporting period, the total number of common shareholders was **43,449**[10](index=10&type=chunk) Top Five Shareholders' Holdings | Shareholder Name | Shareholder Type | Shareholding Ratio | Number of Shares | | :--- | :--- | :--- | :--- | | Ma Xiaowu | Domestic Natural Person | 19.72% | 104,388,594 | | Lin Lin | Domestic Natural Person | 6.00% | 31,760,000 | | Liao Junde | Domestic Natural Person | 5.78% | 30,580,000 | | Ma Xiao | Domestic Natural Person | 2.92% | 15,470,000 | | Chen Yizhi | Domestic Natural Person | 1.13% | 5,984,282 | - Among the top ten shareholders, Ma Xiaowu and Ma Xiao are father and son, forming a **concerted party**[10](index=10&type=chunk) Significant Matters [Analysis of Major Financial Data Changes](index=6&type=section&id=I.%20Changes%20in%20Key%20Financial%20Data%20and%20Indicators%20during%20the%20Reporting%20Period%20and%20Their%20Reasons) The company's financial indicators changed significantly, with a turnaround to profitability and increased debt financing - Operating profit and net profit increased by **120.09%** and **121.51%** YoY respectively, achieving a turnaround to profitability due to higher gross margin and lower administrative expenses[14](index=14&type=chunk) - Cash and cash equivalents increased by **37.70%** YoY, short-term borrowings by **58.51%**, and long-term borrowings surged by **2585.76%**, primarily due to new bank loans[14](index=14&type=chunk) - Net cash flow from operating activities improved by **61.50%** YoY, as the decrease in cash paid for goods and services outpaced the decrease in cash received from sales[14](index=14&type=chunk) - Net cash flow from financing activities surged by **13472.82%** YoY, mainly due to an increase of **130 million Yuan** in bank borrowings by the parent company[15](index=15&type=chunk) [Progress of Significant Matters](index=7&type=section&id=II.%20Progress%20of%20Significant%20Matters%20and%20Analysis%20of%20Their%20Impact%20and%20Solutions) The company's non-public offering of A-shares, initiated in 2018, is currently under regulatory review - The company is proceeding with its 2018 non-public offering of A-shares, aiming to raise no more than **386.65 million Yuan**[16](index=16&type=chunk) - The proceeds will be used for the 'Jinzhou Production Base Phase II Project' and the 'Headquarters Technology Center and Regional Operations Center Project'[16](index=16&type=chunk) - As of February 26, 2019, the company has responded to the first round of feedback from the China Securities Regulatory Commission (CSRC) regarding the administrative license application[17](index=17&type=chunk) [Fulfillment of Commitments](index=8&type=section&id=III.%20Commitments%20by%20the%20Company's%20Actual%20Controllers%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company%20that%20were%20Overdue%20and%20Unfulfilled%20during%20the%20Reporting%20Period) All commitments made by the company and its related parties were fulfilled on time during the reporting period - During the reporting period, **all committing parties fulfilled their commitments on time**[19](index=19&type=chunk) - The share lock-up commitments made by the company's founding shareholders are still being fulfilled in accordance with regulations[18](index=18&type=chunk) [Other Significant Matters](index=9&type=section&id=IV.%20Other%20Significant%20Matters) The company did not provide a performance forecast for H1 2019 and reported no irregular activities - The company has **not provided a business performance forecast** for the first half of 2019[20](index=20&type=chunk) - There were **no irregular external guarantees, non-operating fund occupation by controlling shareholders, or investor relations activities** during the reporting period[21](index=21&type=chunk)[22](index=22&type=chunk)[23](index=23&type=chunk) Financial Statements [Consolidated Financial Statements](index=11&type=section&id=1.%20Consolidated%20Financial%20Statements) The company's consolidated assets reached 2.66 billion Yuan, achieving profitability in Q1 2019 through financing activities Key Consolidated Balance Sheet Data (2019-03-31) | Item | Amount (Yuan) | | :--- | :--- | | Total Assets | 2,658,944,462.94 | | Total Liabilities | 1,515,719,218.03 | | Total Equity Attributable to Parent Company | 1,114,339,540.92 | Key Consolidated Income Statement Data (Q1 2019) | Item | Amount (Yuan) | | :--- | :--- | | Total Operating Revenue | 167,058,716.22 | | Operating Profit | 3,370,272.48 | | Net Profit | 3,822,603.45 | | Net Profit Attributable to Parent Company Owners | 3,594,160.05 | Key Consolidated Cash Flow Statement Data (Q1 2019) | Item | Amount (Yuan) | | :--- | :--- | | Net Cash Flow from Operating Activities | -17,942,628.13 | | Net Cash Flow from Investing Activities | -6,518,280.90 | | Net Cash Flow from Financing Activities | 125,781,136.92 | | Net Increase in Cash and Cash Equivalents | 101,232,160.67 | [Parent Company Financial Statements](index=14&type=section&id=2.%20Parent%20Company%20Financial%20Statements) The parent company reported total assets of 2.10 billion Yuan and a net loss, relying on financing for cash flow Key Parent Company Balance Sheet Data (2019-03-31) | Item | Amount (Yuan) | | :--- | :--- | | Total Assets | 2,098,401,227.66 | | Total Liabilities | 917,008,625.03 | | Total Equity | 1,181,392,602.63 | Key Parent Company Income Statement Data (Q1 2019) | Item | Amount (Yuan) | | :--- | :--- | | Operating Revenue | 15,547,312.72 | | Operating Profit | -2,633,785.16 | | Net Profit | -1,599,264.32 | [Audit Opinion](index=25&type=section&id=III.%20Audit%20Report) The company's financial report for the first quarter of 2019 has not been audited - This quarterly report is **unaudited**[52](index=52&type=chunk)

Financial Performance - The company's operating revenue for 2018 was ¥1,053,322,278.78, a decrease of 25.60% compared to ¥1,415,714,602.71 in 2017[18]. - The net profit attributable to shareholders was -¥246,055,861.04, representing a decline of 504.05% from a profit of ¥60,897,548.46 in 2017[18]. - The net cash flow from operating activities was -¥67,728,174.06, down 122.02% from ¥307,604,775.53 in the previous year[19]. - The basic earnings per share for 2018 was -¥0.465, a decrease of 504.35% compared to ¥0.115 in 2017[19]. - Total assets at the end of 2018 were ¥2,437,228,632.31, a reduction of 15.61% from ¥2,888,007,317.84 at the end of 2017[19]. - The net assets attributable to shareholders decreased by 18.78% to ¥1,110,745,380.87 from ¥1,367,640,273.89 in 2017[19]. - The company reported a diluted earnings per share of -¥0.506, a decline of 540.00% from ¥0.115 in 2017[19]. - The company experienced a significant drop in the weighted average return on equity, which fell to -19.60% from 4.58% in the previous year[19]. - The company reported non-operating income of ¥21,772,033.15 in 2018, compared to ¥7,756,396.09 in 2017[24]. - In 2018, the company achieved revenue of 1,053.32 million yuan, a decrease of 25.6% compared to the previous year, and reported a net loss of 246.06 million yuan[38]. Business Operations - The company has expanded its business scope to include the manufacturing and operation of electric vehicle charging stations and components[17]. - The company is actively involved in power engineering design, total contracting, and consulting services[17]. - The company has established a presence in the renewable energy sector, including solar and wind power projects[17]. - The company is focusing on research and development of new technologies in the field of high-voltage electrical equipment[17]. - The company secured new contract orders worth 1.17 billion yuan in the equipment sector, representing a year-on-year increase of 62%[38]. - The company’s 220kV combined electrical appliance, a key R&D project, received orders worth 123 million yuan and was recognized for its technology reaching an international advanced level[39]. - The company’s traditional products, such as isolating switches and grounding switches, maintained the highest bid rate in the industry during the State Grid's centralized bidding process[39]. - The company actively expanded its distribution network market, achieving significant progress in the 2018 State Grid distribution network agreement inventory bidding[40]. - The company transitioned its renewable energy focus from household photovoltaic projects to wind power and other poverty alleviation projects, particularly preparing for the 80MW wind power project[40]. - The company established regional subsidiaries in Chongqing and Yunnan to enhance its engineering design capabilities and expand its market presence[40]. Research and Development - The company applied for 38 invention patents and 43 utility model patents during the reporting period, with 5 invention patents and 47 utility model patents granted[35]. - The company completed the development of 8 new technology products and made significant progress on 4 forward-looking projects in 2018[64]. - The company developed new products including high-parameter DC switches and grounding switches for flexible DC transmission technology, which are now being supplied for the Zhangjiakou-Beijing 500kV project[64]. - The company completed the research and testing of the 800kV AC grounding switch and the 1120kV DC grounding valve switch, enhancing its product range in ultra-high voltage[65]. - The company is investing in R&D for new high voltage switch technologies, with a budget allocation of 10 million for the upcoming fiscal year[181]. Risk Management - The company has identified various risks including industry risk, market risk, and management risk, which may affect profitability[4]. - The company has emphasized the importance of risk management in its future development outlook[4]. - The company established a robust internal risk control system focusing on project, financial, and legal risk management[41]. - The company faces risks related to raw material price fluctuations, particularly for copper, aluminum, and steel, which could impact profit margins[98]. - The company plans to strengthen its project management capabilities to mitigate risks associated with EPC projects, including political and financial risks[101]. Shareholder and Capital Management - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves[5]. - The company has not reported any changes in its controlling shareholder since its listing[17]. - The company has established a cash dividend policy, distributing 0.3 CNY per share (totaling 15.88 million CNY) for the 2017 fiscal year[105]. - The company plans to maintain its current strategy without distributing cash dividends or increasing share capital through reserves[110]. - The actual profit available for distribution to shareholders from the parent company in 2018 was 341,862,092.67 CNY[109]. Employee Management - The total number of employees in the company is 1,596, with 140 in the parent company and 1,456 in major subsidiaries[190]. - The company reported a total remuneration of 242.1 million yuan for directors and senior management during the reporting period[188]. - The company has established a salary performance management committee to dynamically adjust the salary system according to the company's development stage[193]. - The performance bonus is calculated based on individual and departmental performance scores, with a weight of 70% for individual performance and 30% for departmental performance[200]. - The company has increased its employee stock options, providing incentives for staff and aligning their interests with company performance[160]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities, indicating a focus on environmental compliance[153]. - The company has a complete environmental impact assessment and holds a pollutant discharge permit, although a new permit has not yet been issued[154]. - The company has a dedicated wastewater treatment facility that operates normally, ensuring compliance with environmental standards[154]. Future Outlook - The company aims to achieve operating revenue of 1.7 billion CNY and a net profit attributable to shareholders of 162 million CNY for 2019[96]. - The company anticipates a significant market opportunity due to large-scale power transmission projects and urban grid renovations, which may lead to a prolonged boom in the high-voltage switch industry[97]. - Future outlook includes plans to expand market presence in Southeast Asia and Europe, targeting a 20% increase in international sales by 2020[181]. - The management team highlighted a strategic shift towards digital transformation, aiming to improve operational efficiency by 15% through automation[181].

湖南长高高压开关集团股份公司 2018 年第三季度报告正文 证券代码：002452 证券简称：长高集团 公告编号：2018-42 湖南长高高压开关集团股份公司 2018 年第三季度报告正文 1 湖南长高高压开关集团股份公司 2018 年第三季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人马晓、主管会计工作负责人林林及会计机构负责人(会计主管人 员)刘云强声明：保证季度报告中财务报表的真实、准确、完整。 2 湖南长高高压开关集团股份公司 2018 年第三季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 2,671,858,301.18 | 2,888,007,317.84 | | -7.48% ...

Financial Performance - The company's operating revenue for the reporting period was ¥385,510,814.96, a decrease of 44.85% compared to ¥699,075,828.55 in the same period last year[16]. - The net profit attributable to shareholders was a loss of ¥19,773,574.82, representing a decline of 138.07% from a profit of ¥51,937,326.17 in the previous year[16]. - The net cash flow from operating activities was -¥96,628,077.02, showing a slight improvement of 1.14% compared to -¥97,747,212.84 in the same period last year[16]. - The basic earnings per share were -¥0.037, down 137.37% from ¥0.099 in the previous year[16]. - The net profit after deducting non-recurring gains and losses was -¥20,514,834.55, a decline of 139.44% from ¥52,016,543.07 in the same period last year[16]. - The company reported a net loss of CNY 15,881,517.91 during the period, reflecting a significant decrease in profitability[160]. - The total comprehensive income for the period was a negative CNY 1,518,495.69, indicating challenges in financial performance[159]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,689,040,278.56, a decrease of 6.89% from ¥2,888,007,317.84 at the end of the previous year[16]. - The net assets attributable to shareholders decreased by 2.41%, amounting to ¥1,334,633,067.38 compared to ¥1,367,640,273.89 at the end of the previous year[16]. - Total current assets decreased from CNY 2,118,734,644.96 to CNY 1,983,632,909.91, a decline of approximately 6.36%[128]. - Total liabilities decreased from CNY 1,494,523,129.88 to CNY 1,328,159,011.65, a reduction of approximately 11.14%[129]. - Short-term borrowings increased from CNY 98,000,000.00 to CNY 155,000,000.00, an increase of about 58.16%[129]. Revenue Breakdown - The company's revenue from power transmission and transformation equipment reached ¥284.77 million, a year-on-year increase of 16.62%[39]. - The sales revenue from the real estate sector dropped by 78.54%, significantly impacting overall revenue[36]. - Revenue from engineering construction dropped significantly by 84.62% year-on-year, with a gross profit margin of 12.44%[39]. - The revenue from high-voltage isolation switches and grounding switches was ¥108.22 million, a decrease of 16.79% year-on-year[39]. Research and Development - Research and development investment decreased by 29.53% to CNY 21.55 million, reflecting a reduction in innovation spending[35]. - The company successfully developed and certified six new products, which are expected to enhance its competitive position in the market[28]. - The company obtained one invention patent and 39 utility model patents during the reporting period, indicating a strong focus on innovation[28]. Strategic Plans and Risks - The company plans not to distribute cash dividends or issue bonus shares[4]. - The company faces various risks including industry, market, and management risks, which may impact profitability[4]. - The company aims to enhance core competitiveness in the engineering services sector by integrating subsidiary management and project reserves[32]. - The company is facing risks from fluctuations in raw material prices, particularly copper, aluminum, and steel, which could impact cost management[61]. Cash Flow Management - The net cash flow from financing activities was 50,545,959.92 CNY, recovering from -71,744,976.57 CNY in the previous period[146]. - Cash inflow from financing activities was 80,415,052.94 CNY, an increase of 151.3% from 32,000,000.00 CNY in the previous period[146]. - The net cash flow from investing activities was -3,635,748.12 CNY, a significant decline from 75,187,990.79 CNY in the previous period[146]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 104,388,594 shares, with a significant shareholder, Ma Xiaowu, holding 19.72%[112]. - The top ten shareholders collectively held 94,389,240 shares, with Ma Xiaowu directly owning 33,596,664 unrestricted shares[113]. - The company’s stock structure includes both restricted and unrestricted shares, with specific conditions for the release of restricted shares[109]. Compliance and Governance - The company’s half-year financial report has not been audited[73]. - The company has no significant litigation or arbitration matters during the reporting period[75]. - The company has implemented a stock option incentive plan, granting 21.22 million stock options, which represents 4.008% of the total share capital[79].

湖南长高高压开关集团股份公司 2018 年第一季度报告正文 证券代码：002452 证券简称：长高集团 公告编号：2018-15 湖南长高高压开关集团股份公司 2018 年第一季度报告正文 1 湖南长高高压开关集团股份公司 2018 年第一季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 湖南长高高压开关集团股份公司 2018 年第一季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 170,320,305.74 | 196,131,587.93 | -13.16% | | 归属于上市公司股东的净利润（元） | -15,833,762.66 | 19,244,509.50 | -182.28% | | 归属于上市公司股东的扣除非经常性损 益的净利润（元） | -16,1 ...

Financial Performance - The company reported a total revenue of 1.2 billion yuan for the year 2017, representing a year-on-year increase of 15%[11]. - The net profit attributable to shareholders was 150 million yuan, an increase of 10% compared to the previous year[11]. - The company's operating revenue for 2017 was CNY 1,415,714,602.71, representing a 9.49% increase compared to CNY 1,292,992,766.34 in 2016[16]. - The net profit attributable to shareholders decreased by 49.49% to CNY 60,897,548.46 in 2017 from CNY 120,556,155.84 in 2016[16]. - The net profit after deducting non-recurring gains and losses was CNY 53,141,152.37, down 55.03% from CNY 118,160,375.11 in 2016[17]. - The net cash flow from operating activities increased by 115.01% to CNY 307,604,775.53 in 2017, compared to CNY 143,066,299.24 in 2016[17]. - The total assets at the end of 2017 were CNY 2,888,007,317.84, a 1.43% increase from CNY 2,847,292,117.87 at the end of 2016[17]. - The net assets attributable to shareholders increased by 3.95% to CNY 1,367,640,273.89 at the end of 2017 from CNY 1,315,613,127.50 at the end of 2016[17]. - The basic earnings per share decreased by 49.34% to CNY 0.116 in 2017 from CNY 0.229 in 2016[17]. - The company achieved total operating revenue of 1,415.71 million yuan and a net profit attributable to the listed company of 60.90 million yuan in 2017, failing to meet the initial business targets[103]. Dividend Distribution - The company plans to distribute a cash dividend of 0.30 yuan per 10 shares, based on a total share capital of 529,400,000 shares[4]. - The cash dividend for 2017 was set at CNY 0.30 per 10 shares, totaling CNY 15,882,000.00 distributed to shareholders[133]. - The cash dividend payout ratio for 2017 was 26.08% of the net profit attributable to shareholders[132]. - The company’s parent net profit for 2017 was CNY 70,024,059.05, with a distributable profit of CNY 381,819,038.95 after accounting for statutory reserves[133]. - The total cash dividends over the past three years were CNY 15,882,000.00 in 2017, CNY 26,271,200.00 in 2016, and CNY 31,525,440.00 in 2015[132]. - The company’s cash dividends have shown a decreasing trend relative to net profits over the past three years[132]. Market Expansion and Strategy - The company is focusing on expanding its market presence in the high-voltage switchgear sector, targeting a 20% market share increase in the next fiscal year[11]. - The company aims to enhance its EPC project capabilities to secure more contracts in the renewable energy sector[11]. - The company is exploring strategic acquisitions to bolster its technological capabilities and market reach[11]. - User data indicates a 25% increase in customer inquiries for high-voltage products, suggesting growing demand in the market[11]. - The company has expanded its business scope to include manufacturing and operation of electric vehicle charging equipment and components[15]. - The company has established a strategic partnership with ride-hailing platforms to provide new energy vehicles for operations, utilizing a rental model to meet diverse customer needs[27]. - The company aims to enhance its capabilities in the power engineering service sector and is focusing on expanding its regional and customer coverage[30]. - The company has a clear development strategy to become a comprehensive service provider in the power energy sector, integrating planning, design, manufacturing, and operation[32]. - The company plans to expand its market presence in overseas regions, which saw a revenue increase of 589.20% year-on-year[60]. - The company intends to strengthen its international presence by increasing overseas offices and enhancing project management capabilities[110]. Research and Development - Research and development expenses accounted for 5% of total revenue, reflecting the company's commitment to innovation and new product development[11]. - The company completed 12 new product and technology developments, focusing on high-end products such as ultra-high voltage direct current and high-altitude switches[40]. - The company completed 12 major R&D projects in 2017, including high-voltage direct current series switches and high-altitude series switches, enhancing its market position[76]. - R&D personnel increased to 160, up 8.11% from 148, with R&D investment rising to ¥64,918,111.76, a 32.89% increase from ¥48,851,787.15[79]. Risk Management - The company has identified potential risks including market fluctuations and raw material price changes, which could impact profitability[4]. - The company has implemented strategies to mitigate risks from raw material price fluctuations, including strict inventory control and direct procurement agreements with major suppliers[119]. - The company has established a comprehensive management system, but rapid growth may pose management risks if the management team's capabilities do not keep pace with the company's expansion[120]. Environmental and Social Responsibility - The company emphasizes environmental protection and actively engages in energy-saving and emission-reduction activities, adopting the ISO14000 environmental management system[176]. - The company has established a comprehensive wastewater treatment facility that is currently operating normally[180]. - The company has a dedicated waste gas tower that is functioning properly to manage emissions[182]. - The company has obtained an environmental discharge permit from the Changsha Environmental Protection Bureau, ensuring compliance with local regulations[181]. - The company reported a total of 416.8 kg of nitrogen oxides emitted, well below the regulatory limit of 240 mg/m3[182]. - The company’s total COD emissions were recorded at 137 kg, significantly below the allowable limit of 500 mg/L[182]. - The company’s ammonia nitrogen emissions were reported at 37 kg, with a concentration of 6.43 mg/L, indicating compliance with environmental standards[182]. Corporate Governance - The company has established a comprehensive corporate governance structure and internal control system to ensure fair and transparent information disclosure[175]. - The company has maintained a continuous relationship with its auditing firm for five years, with the current audit fee set at 750,000 yuan[145]. - There were no significant accounting errors requiring restatement during the reporting period[142]. - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[139]. Shareholder Information - The total number of shares increased by 3.332 million due to stock option incentives during the reporting period[194]. - The total number of shares held by major shareholders at the end of the reporting period was 184,987,592, with 37,527,788 shares released from restrictions[193]. - Major shareholder Ma Xiaowu holds 96,934,490 shares, representing 18.33% of the total shares, with a decrease of 2,545,250 shares during the reporting period[197]. - The next unlock date for restricted shares is July 20, 2018, for several major shareholders[192]. - The total number of shareholders at the end of the reporting period was 45,250[196]. - The company has a total of 159,410,190 shares under restriction at the end of the reporting period[193].