证券代码： 002471 证券简称：中超控股 江苏中超控股股份有限公司 2021 年度业绩说明会投资者关系活动记录表 编号：2022-001 | --- | --- | --- | --- | --- | --- | --- | |-----------------------|---------------------------------------------------------|-----------------------------------------------------------------|-------|------------------------------------------------------------|--------------------|-------| | | □ 特定对象调研 □ | 分析师会议 | | | | | | 投资者关系活动 | □ 媒体采访 √ | 业绩说明会 | | | | | | 类别 | □ 新闻发布会 □ | 路演活动 | | | | | | | □ 现场参观 | | | | | | | | □ 其他 | （请文字说明其他活 ...

Financial Performance - The company's revenue for Q3 2022 was ¥1,590,712,175.51, a decrease of 1.36% compared to the same period last year[5] - Net profit attributable to shareholders was ¥10,975,226.04, an increase of 1,205.42% year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥5,812,604.19, up 661.27% compared to the previous year[5] - Total operating revenue for Q3 2022 was CNY 4,204,561,737.72, a slight increase from CNY 4,184,222,764.32 in Q3 2021, representing a growth of approximately 0.4%[22] - Total operating costs for Q3 2022 were CNY 4,213,889,867.40, compared to CNY 4,194,570,987.10 in the same period last year, indicating an increase of about 0.5%[22] - The net loss for Q3 2022 was CNY 30,761,928.15, an improvement from a net loss of CNY 33,277,743.71 in Q3 2021, reflecting a reduction in losses of approximately 4.5%[23] - The company reported an operating profit of CNY -31,682,544.22 for Q3 2022, an improvement from CNY -35,014,195.13 in Q3 2021, indicating a reduction in operating losses of approximately 9.5%[22] Cash Flow - Cash flow from operating activities reached ¥217,654,740.92, a significant increase of 705.48% year-to-date[5] - The net cash flow from operating activities was CNY 217,654,740.92, a significant recovery from a negative cash flow of CNY -35,947,260.00 in the same period last year[26] - The cash received from sales and services amounted to CNY 4,676,961,774.46, an increase from CNY 3,813,575,817.77 in the previous year, representing a growth of approximately 22.7%[26] - The cash inflow from investment activities totaled CNY 97,848,314.78, compared to CNY 49,562,638.25 in the previous year, indicating an increase of about 97.5%[26] - The net cash flow from investment activities was CNY 71,655,812.09, a turnaround from a negative cash flow of CNY -79,005,857.64 in the same quarter last year[26] - The total cash inflow from financing activities reached CNY 2,660,879,275.70, up from CNY 1,754,474,086.97, marking an increase of approximately 51.5%[27] - The net cash flow from financing activities was CNY -268,616,174.25, worsening from CNY -203,415,906.02 in the previous year[27] - The cash and cash equivalents at the end of the period were CNY 45,769,106.65, compared to CNY 24,071,101.87 at the end of the same period last year, reflecting an increase of about 90.2%[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,955,124,539.17, reflecting a growth of 4.48% from the end of the previous year[5] - As of September 30, 2022, total assets amounted to CNY 5,955,124,539.17, an increase from CNY 5,699,912,897.71 at the beginning of the year[19] - The company reported a total of CNY 434,037,263.77 in other equity instrument investments, up from CNY 423,314,950.87[19] - The company's total liabilities increased to CNY 4,566,017,394.90 in Q3 2022 from CNY 4,288,348,839.25 in Q3 2021, marking an increase of about 6.5%[22] - The total equity attributable to shareholders of the parent company decreased to CNY 1,353,335,528.75 from CNY 1,371,451,594.64 year-on-year, a decline of approximately 1.3%[22] Inventory and Investments - The balance of inventory increased by ¥194,538,967.95, representing a growth of 35.01% due to an increase in products and inventory[9] - The balance of construction in progress rose by ¥5,530,996.81, an increase of 47.46% attributed to workshop renovations and production line updates[10] - The company reported an increase in investment income of ¥6,509,846.36, a growth of 132.75% year-on-year[11] - The balance of contract liabilities increased by ¥70,159,862.68, reflecting a growth of 54.36% due to increased advance payments[10] Shareholder and Legal Matters - The company has a significant shareholder, Jiangsu Zhongchao Investment Group Co., Ltd., holding 17.39% of shares, with 220,444,030 shares pledged[15] - The company is involved in ongoing litigation with a total amount of CNY 14.63 billion related to guarantees made by a former executive[16] Research and Development - Research and development expenses for Q3 2022 were CNY 144,834,601.67, down from CNY 151,275,860.86 in Q3 2021, representing a decrease of about 4.2%[22] Miscellaneous - The company did not conduct an audit for the third quarter report[28] - The report was released by the board of directors on October 28, 2022[29] - The company has not disclosed any new product launches or technological advancements in the current report, suggesting a focus on existing operations[24] - Future outlook and guidance were not explicitly mentioned in the provided documents, indicating a potential area for further clarification in future communications[24]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥2,613,849,562.21, representing a 1.64% increase compared to ¥2,571,620,965.50 in the same period last year[23]. - The net loss attributable to shareholders was ¥40,954,430.20, a 20.37% increase from a loss of ¥34,024,463.36 in the previous year[23]. - The net cash flow from operating activities improved significantly to ¥75,293,999.71, compared to a negative cash flow of ¥101,005,578.89 in the same period last year, marking a 174.54% increase[23]. - Total assets at the end of the reporting period were ¥6,000,887,852.49, up 5.28% from ¥5,699,912,897.71 at the end of the previous year[23]. - The company's net assets attributable to shareholders decreased by 2.66% to ¥1,334,910,398.29 from ¥1,371,451,594.64 at the end of the previous year[23]. - Basic and diluted earnings per share were both reported at -¥0.0323, a decline of 20.52% from -¥0.0268 in the previous year[23]. - The weighted average return on equity was -3.03%, down from -2.30% in the same period last year, reflecting a decrease of 0.73%[23]. - The company's revenue for the reporting period was ¥2,613,849,562.21, representing a year-on-year increase of 1.64% compared to ¥2,571,620,965.50 in the previous year[43]. - The operating cost increased by 3.03% to ¥2,348,806,685.41 from ¥2,279,828,821.50, leading to a slight decrease in gross margin[43]. - Research and development investment was ¥96,163,803.52, a decrease of 2.87% from ¥99,001,218.62 in the previous year[43]. Industry Context - The company operates in the wire and cable industry, which is the second largest supporting industry in China's machinery sector, with a significant application in power, transportation, construction, and new energy sectors[31]. - The wire and cable industry in China has seen an increase in the number of large-scale enterprises from 3,817 in 2018 to 4,009 in 2020, indicating a recovery trend[31]. - The company focuses on R&D, production, and sales of over 500 types of wire and cable products, including high-voltage cables and special cables for various applications[34]. Strategic Initiatives - The company plans to enhance its core technology competitiveness and increase product added value through innovation in high-end cable manufacturing[36]. - The company has established a comprehensive marketing team and service system, primarily selling products through bidding for large clients like the State Grid[36]. - The company has implemented a "sales-driven production" model to adapt to the diverse needs of customers regarding cable specifications and performance[36]. - The company anticipates significant market opportunities in new energy equipment cables and energy-saving cables due to national policies supporting new infrastructure and carbon neutrality[33]. - The company plans to enhance its market expansion efforts and improve product quality through increased investment in technological innovation[69]. Risk Factors - The management has outlined potential risks and corresponding mitigation strategies in the report, emphasizing the importance of investor awareness[4]. - The company faces risks from industry policy changes, with a highly competitive market leading to potential price declines and reduced gross margins[65]. - Copper materials account for approximately 80% of the company's total product costs, making fluctuations in copper prices a significant operational pressure[66]. - The company has ongoing litigation with an unresolved amount of 273 million yuan, which may impact its financial standing depending on court outcomes[67]. Legal and Compliance Issues - The company received an administrative penalty from the Jiangsu Regulatory Bureau of the CSRC on April 1, 2022, due to failure to disclose control transfer progress and significant litigation in a timely manner, resulting in a significant omission in the 2018 annual report[88]. - The actual controller, Huang Jinguang, was penalized with a 5-year market ban and a fine of ¥300,000 for serious violations related to undisclosed control transfer progress and significant omissions in the 2018 annual report[100]. - The company has reported a significant amount of litigation involving various parties, indicating ongoing legal challenges[98]. - The company is actively pursuing legal actions to recover debts and mitigate financial losses[97][98]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[5]. - The actual controller, Yang Fei, has committed to increasing his shareholding by no less than 0.5% and no more than 1% within six months, equating to between 6.34 million and 12.68 million shares[84]. - The company has guaranteed the independence of its personnel, assets, and operations, ensuring financial independence and business autonomy[84]. - There were no non-operating fund occupations by controlling shareholders or other related parties during the reporting period[85]. Future Outlook - The company plans to expand its market presence, focusing on new product development and technological advancements[188]. - The projected revenue growth for the next fiscal year is estimated at 27.2%, driven by new market strategies and product launches[191]. - The company has set a performance guidance of 2.86 billion for the next half-year, indicating a strong outlook based on current market trends[191].

Financial Performance - The company's operating revenue for Q1 2022 was ¥1,091,298,871.43, representing a 31.27% increase compared to ¥831,352,046.36 in the same period last year[3] - The net profit attributable to shareholders was -¥29,127,507.81, an improvement of 32.72% from -¥43,293,867.19 year-over-year[3] - The net cash flow from operating activities was ¥207,741,312.69, a significant increase of 243.35% compared to -¥144,923,157.67 in the previous year[3] - Total operating revenue for Q1 2022 was CNY 1,091,298,871.43, an increase of 31.3% compared to CNY 831,352,046.36 in Q1 2021[18] - Net loss for Q1 2022 was CNY 29,899,185.58, an improvement from a net loss of CNY 44,962,260.85 in Q1 2021[19] - The company reported a comprehensive loss of CNY 26,601,425.39 for Q1 2022, compared to a comprehensive loss of CNY 46,096,778.83 in the previous year[19] - Basic and diluted earnings per share for Q1 2022 were both -0.0230, compared to -0.0341 in Q1 2021[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥5,753,723,289.53, reflecting a 0.94% increase from ¥5,699,912,897.71 at the end of the previous year[3] - Total liabilities as of the end of Q1 2022 were CNY 4,367,409,142.13, compared to CNY 4,288,348,839.25 at the end of Q1 2021[16] - Total equity attributable to shareholders of the parent company was CNY 1,346,414,606.54, down from CNY 1,371,451,594.64 in the previous year[16] - The company's total assets at the end of Q1 2022 were CNY 5,753,723,289.53, compared to CNY 5,699,912,897.71 at the end of Q1 2021[16] Cash Flow - The net cash flow from operating activities for the current period is ¥207,741,312.69, compared to a negative ¥144,923,157.67 in the previous period, indicating a significant improvement[21] - Cash inflow from operating activities totaled ¥1,551,080,285.76, up from ¥1,177,423,349.13 in the previous period, reflecting a growth of approximately 32%[21] - Cash outflow from operating activities was ¥1,343,338,973.07, slightly increased from ¥1,322,346,506.80 in the previous period[21] - The cash flow from investment activities showed a net outflow of ¥15,300,723.45, a decrease from a net inflow of ¥16,831,036.86 in the previous period[22] - Cash inflow from financing activities amounted to ¥890,698,082.68, compared to ¥520,156,169.45 in the previous period, representing a growth of approximately 71%[22] - The net cash flow from financing activities was negative at ¥178,995,794.44, worsening from a negative ¥125,071,252.92 in the previous period[22] - The ending balance of cash and cash equivalents was ¥38,426,953.49, down from ¥89,357,967.02 in the previous period[22] - The company received ¥874,110,000.00 in borrowings during the current period, significantly higher than the previous period's ¥495,950,000.00[22] - The company reported a cash inflow of ¥600,000.00 from investments, which is the first instance of such inflow in the current period[22] - The company’s cash flow from other operating activities increased to ¥82,595,961.28 from ¥35,240,971.22 in the previous period, marking a growth of approximately 134%[21] Inventory and Expenditures - The company's inventory increased by 36.07%, reaching a balance of ¥200,408,741.54, due to an increase in products and stock[6] - The company's development expenditures rose by 40.91%, totaling ¥2,388,185.90, attributed to increased capitalized R&D expenses from a subsidiary[6] - The operating costs for the period increased by 32.23%, amounting to ¥237,038,344.51, in line with the increase in sales[8] - Research and development expenses for Q1 2022 amounted to CNY 45,384,173.43, an increase from CNY 41,783,846.65 in the same period last year[18] Shareholder Information - Total number of common shareholders at the end of the reporting period is 80,748[10] - Jiangsu Zhongchao Investment Group Co., Ltd. holds 17.39% of shares, totaling 220,444,030 shares[10] Legal and Regulatory Issues - The company is involved in ongoing litigation related to past management actions, with potential liabilities amounting to ¥272,790,500[12] - The company has confirmed a total of 15 pending lawsuits related to guarantees made by the former actual controller[12] - The company has received an administrative penalty due to failure to disclose significant information in a timely manner[12] Other Income - The company reported a 62.01% increase in non-operating income, totaling ¥304,934.71, primarily due to increased government subsidies[8] - The company experienced a 58.10% decrease in the balance of receivables financing, amounting to a reduction of ¥17,572,130.38, due to a decrease in the portion of bank acceptance bills expected to be discounted or endorsed in the future[6] - The company reported a decrease in other comprehensive income, with a tax effect of CNY 3,297,760.19 in Q1 2022, compared to a loss of CNY 1,134,517.98 in Q1 2021[19]

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB, representing a year-over-year growth of 20%[16]. - The company has provided a positive outlook for the next fiscal year, projecting a revenue growth of 25%[16]. - The company's operating revenue for 2021 was ¥5,879,919,629.20, representing an increase of 8.19% compared to ¥5,434,890,904.83 in 2020[23]. - The net profit attributable to shareholders in 2021 was ¥27,394,310.02, a significant increase of 150.17% from ¥11,042,310.24 in 2020[23]. - The total operating revenue for 2021 was approximately ¥5.88 billion, representing an 8.19% increase compared to ¥5.43 billion in 2020[46]. - The cable industry accounted for 94.80% of total revenue, with revenue of approximately ¥5.57 billion, up 8.84% from the previous year[46]. - The company aims to achieve a net profit of 120 million yuan in 2021, which is a target rather than a profit commitment[109]. Market Expansion and Strategy - User data showed a growth in active users, reaching 2 million, which is an increase of 15% compared to the previous year[16]. - The company is expanding its market presence, targeting a 10% increase in market share in the next year[16]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in international sales by 2023[139]. - The company intends to expand its market presence in the new energy and infrastructure sectors, capitalizing on opportunities from national policies[100]. - The company is cautiously exploring other industries with growth potential while maintaining a focus on the cable industry[44]. Research and Development - The company plans to invest 100 million RMB in research and development for new technologies in the upcoming year[16]. - Research and development expenses increased by 3.65% year-on-year, totaling ¥205,481,833.11 in 2021[59]. - The company is focusing on new product development and technological innovation to meet market demands and improve its competitive edge[37]. - The company is committed to continuous research and development to keep pace with industry trends and maintain technological advantages[105]. - The company is focusing on innovative materials and structural designs to enhance product performance and market prospects[62]. Product Development - New product development includes the launch of a high-efficiency cable, expected to contribute an additional 200 million RMB in revenue[16]. - The company is developing halogen-free flame-retardant polyethylene cables, aiming to enhance fire safety and reduce harmful gas emissions during combustion, with a target temperature resistance of -40 degrees Celsius[60]. - The company has completed the development of fire-resistant cables for fire protection systems, which significantly exceed the Ministry of Public Security standards, improving safety and reliability during fires[61]. - The company is working on environmentally friendly soft aluminum alloy cables for photovoltaic systems, which can reduce costs by over 30% compared to traditional copper cables, promoting growth in the renewable energy market[61]. - The company is developing a new type of low-smoke halogen-free flame-retardant power cable for urban public engineering, which incorporates innovative fire prevention concepts and materials[67]. Financial Management and Governance - The company has established a high-quality development leadership group to drive management upgrades and cost reduction initiatives[98]. - The company emphasizes quality and service as foundational elements for market positioning, aiming to enhance brand recognition and industry influence[99]. - The company has a complete and independent production, supply, and sales system, with no reliance on controlling shareholders for research and development[119]. - The company’s financial management system is compliant with current laws and regulations, ensuring independent financial operations[122]. - The company is actively working on improving its corporate governance and compliance with regulatory requirements[140]. Risks and Challenges - The company has identified potential risks in its operations, including market volatility and supply chain disruptions, which are detailed in the management discussion section[5]. - The company faced litigation risks with unresolved cases amounting to 273 million CNY, which may impact its financial standing[106]. - The company is facing significant pressure on cash flow due to rising prices of copper and aluminum, impacting gross profit margins[44]. - The company is committed to ensuring compliance with all regulatory requirements moving forward[185]. Employee and Management Structure - The total number of employees at the end of the reporting period was 2,115, including 127 from the parent company and 1,988 from major subsidiaries[158]. - The company has a diverse management team with extensive experience in various sectors, including cable manufacturing and financial management[131][132][133]. - The company has maintained a stable management team, with no new appointments during the reporting period[127]. - The employee training rate reached 100%, with comprehensive training programs covering various professional areas, enhancing overall employee skills and knowledge[161]. Compliance and Regulatory Issues - The company received an administrative penalty from the Jiangsu Regulatory Bureau for failing to disclose control transfer progress and significant litigation in a timely manner, resulting in a warning and fines totaling 0.1 million CNY for the chairman[140]. - The company faced regulatory penalties for failing to disclose control transfer and major litigation in a timely manner, resulting in a fine of CNY 500,000[199]. - The company has committed to protecting the rights of shareholders and creditors by continuously improving its corporate governance structure and ensuring compliance with legal obligations[176].

Revenue and Profitability - Revenue for Q3 2021 reached ¥1,612,601,798.82, an increase of 20.72% compared to the same period last year[4] - Net profit attributable to shareholders was ¥840,745.87, a decrease of 96.63% year-on-year[4] - The company's net profit for the period was not explicitly stated, but the increase in operating revenue suggests potential profitability improvements[22] - The net profit for Q3 2021 was -33,277,743.71 CNY, compared to -31,845,973.28 CNY in Q3 2020, indicating a decline in profitability[23] - The total comprehensive income for Q3 2021 was -18,236,533.13 CNY, compared to -46,681,595.95 CNY in the same period last year, showing an improvement in overall financial performance[24] - The operating profit for Q3 2021 was -35,014,195.13 CNY, an improvement from -44,816,824.43 CNY in Q3 2020[23] - Basic and diluted earnings per share for Q3 2021 were both -0.0262 CNY, compared to -0.0234 CNY in Q3 2020, reflecting a decline in earnings per share[24] Cash Flow and Investments - Cash flow from operating activities showed a net outflow of ¥35,947,260.00, representing a 79.33% increase in outflow compared to the previous year[4] - Cash flow from operating activities for Q3 2021 was -35,947,260.00 CNY, compared to -173,908,643.28 CNY in Q3 2020, indicating a significant reduction in cash outflow[27] - The net cash flow from investing activities was -79,005,857.64 CNY in Q3 2021, compared to 59,967,604.74 CNY in Q3 2020, reflecting a shift towards cash outflow in investments[27] - The net cash flow from financing activities was -203,415,906.02 CNY in Q3 2021, compared to -47,469,387.51 CNY in Q3 2020, indicating increased cash outflow related to financing[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,111,573,087.85, a 10.12% increase from the end of the previous year[5] - As of September 30, 2021, total assets amounted to RMB 6,111,573,087.85, up from RMB 5,550,003,738.63 at the end of 2020, reflecting a growth of approximately 10.1%[20] - Current assets totaled RMB 4,685,062,157.06, an increase from RMB 4,154,819,003.70 at the end of 2020, marking a rise of about 12.7%[18] - The company reported a total liability of RMB 4,655,951,778.82, up from RMB 4,011,193,494.54, which is an increase of about 16.1%[19] - The total equity attributable to shareholders decreased to RMB 1,415,975,838.28 from RMB 1,493,189,132.92, indicating a decline of approximately 5.2%[20] - The company’s total equity attributable to shareholders decreased by 5.17% compared to the end of the previous year, amounting to ¥1,415,975,838.28[5] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 68,688[13] Operational Metrics - Total operating revenue for the third quarter of 2021 reached RMB 4,184,222,764.32, an increase from RMB 3,463,411,870.52 in the same period last year, representing a growth of approximately 20.8%[22] - Total operating costs for the third quarter of 2021 were RMB 4,194,570,987.10, compared to RMB 3,445,245,211.26 in the previous year, indicating an increase of about 21.7%[22] - Accounts receivable rose to RMB 2,972,383,628.67 from RMB 2,311,259,315.91, indicating an increase of about 28.6%[18] - Inventory levels increased to RMB 708,561,127.49 from RMB 607,445,247.68, reflecting a growth of approximately 16.6%[18] - The company experienced a credit impairment loss of -34,266,256.96 CNY in Q3 2021, compared to -30,355,932.25 CNY in the previous year, indicating increased credit risk[23] - The weighted average return on equity was 0.06%, a decrease of 1.74% year-on-year[4] - The company's basic earnings per share were ¥0.0007, down 96.63% from the same period last year[4] - The balance of accounts payable increased by ¥618,213,951.71, a rise of 177.21% compared to the beginning of the period[9]

Financial Performance - The company achieved operating revenue of CNY 2,571,620,965.50, representing a 20.87% increase compared to the same period last year[21]. - The net profit attributable to shareholders was a loss of CNY 34,024,463.36, a 37.77% improvement in loss compared to the previous year[21]. - The net cash flow from operating activities was a negative CNY 101,005,578.89, a decline of 465.97% compared to the previous year[21]. - Total assets at the end of the reporting period were CNY 5,854,187,622.56, an increase of 5.48% from the end of the previous year[21]. - The operating cost increased by 21.76% to ¥2,279,828,821.50 from ¥1,872,350,133.76, indicating a rise in expenses associated with sales[36]. - Research and development investment rose by 26.52% to ¥99,001,218.62, up from ¥78,251,299.86, reflecting the company's commitment to innovation[36]. - The company reported a total loss of CNY 4,092,320.00, a 35.23% decrease in loss compared to the same period last year[30]. - The company reported a net profit of 7,509,303.22 yuan for the year 2020, a significant recovery from a loss of 458,135,805.51 yuan in the previous year[82]. Risks and Challenges - The company faces risks including industry policy changes, raw material price fluctuations, and litigation risks[5]. - The company faces risks from industry policy changes, with a focus on expanding both domestic and international markets to enhance risk response capabilities[56]. - Copper materials account for approximately 80% of the total cost of the company's products, making fluctuations in copper prices a significant operational risk[56]. - As of the reporting period, the company has unresolved litigation involving a total amount of 323 million yuan, which could impact its financing efforts[58]. - The company is currently involved in 17 pending lawsuits with a total amount of 57,279.05 million yuan, which may significantly impact its financial statements depending on the outcomes[81]. Corporate Governance - The board of directors confirmed the accuracy and completeness of the financial report, with all members present for the meeting[5]. - The financial report includes a declaration from the responsible parties ensuring the report's authenticity and completeness[4]. - The company has made commitments to avoid competition with its own subsidiaries and ensure fair transactions with related parties[73]. - The company emphasizes the protection of employee rights, ensuring compliance with labor laws and providing a secure working environment[69]. - The company actively manages investor relations, ensuring timely and accurate information disclosure to enhance investor understanding[70]. Shareholder Information - The company held several shareholder meetings, with participation rates ranging from 18.38% to 40.59%[61][62]. - The company approved various resolutions, including financial support for subsidiaries and adjustments to its development strategy[62]. - The company reported a registered capital of 218.8 million yuan and a paid-in capital of 218.8 million yuan[55]. - The total number of common shareholders at the end of the reporting period is 75,592[142]. - Jiangsu Zhongchao Investment Group Co., Ltd. holds 17.39% of shares, totaling 220,444,030 shares, with 217,210,000 shares pledged[142]. Legal Matters - The company has confirmed an estimated liability of 27,279.05 million yuan related to 15 pending lawsuits in Wuhan, which were fully recognized in the 2019 financial statements[81]. - The company has initiated legal action against Shenzhen Xintenghua and Huang Jinguang for a repayment of 20,472,200 yuan, with a court ruling requiring payment by November 4, 2021[75]. - The company is involved in significant litigation, including a case where a former executive borrowed 70 million RMB, with ongoing legal proceedings[85]. - The company has disputed the authenticity of documents related to a guarantee contract and has cooperated with the court to provide evidence[83]. - The company has no liability for guarantees related to loans taken by the former executive, as confirmed by the court ruling[85]. Market and Product Development - The company focuses on the development of products for modern energy systems, including photovoltaic cables and charging pile cables, which are widely used in various new energy projects[28]. - The company has nearly 300 patents and six provincial-level research and development centers, indicating strong innovation capabilities[32]. - The company operates under a "sales-driven production" model to meet diverse customer demands in the cable industry[28]. - The company has established a comprehensive marketing team and service system, primarily serving power departments and large enterprises[28]. - The company is exploring new product development strategies to improve service offerings and customer satisfaction[90]. Financial Transactions and Investments - The company reported a total investment of 57,867,619.53 yuan during the reporting period, a decrease of 18.59% compared to the previous year[48]. - The company has provided guarantees totaling 9 million yuan to related parties, with actual guarantees amounting to 8.5 million yuan[107]. - The company has a guarantee of 1 million yuan for Zhongchao New Materials, with a three-year term[108]. - The total approved external guarantee amount during the reporting period was 2 million yuan, with actual occurrences totaling 3.85 million yuan[108]. - The company has initiated legal proceedings to recover RMB 49.98 million from Chongqing Xinyouda[94]. Operational Efficiency - The company has established a leading domestic cable production cluster, enhancing internal collaboration and operational efficiency to support high-quality development[34]. - The company plans to invest RMB 205 million in a high-pressure and ultra-high-pressure cable capacity expansion project, aiming to increase production capacity for cables rated at 330kV and below[134]. - The company has implemented new strategies to improve operational efficiency, targeting a 10% reduction in costs by the end of the fiscal year[92]. - The company is committed to addressing outstanding legal issues to mitigate financial risks and enhance stability[89]. Environmental Compliance - The company and its subsidiaries are not classified as key pollutant discharge units by environmental protection authorities[68]. - The company adheres to various environmental laws and regulations, with no penalties for violations during the reporting period[68].

江苏中超控股股份有限公司 2021 年第一季度报告全文 江苏中超控股股份有限公司 2021 年第一季度报告 2021 年 04 月 1 江苏中超控股股份有限公司 2021 年第一季度报告全文 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。 公司负责人俞雷、主管会计工作负责人李川冰及会计机构负责人(会计主管 人员)曹宁丽声明：保证季度报告中财务报表的真实、准确、完整。 2 江苏中超控股股份有限公司 2021 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | | --- | --- | --- | --- | --- | | 营业收入（元） | 831,352,046.36 | 713,423,157.77 | | 16.53% | | 归属于上市公司股东的净利润（元） | -43,293,867.19 | -94,193,148.23 | | 54.04% ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB, representing a year-over-year growth of 20%[14]. - The company has set a future revenue guidance of 1.8 billion RMB for the next fiscal year, indicating an expected growth of 20%[14]. - The company reported total revenue of CNY 5,434,890,904.83 in 2020, a decrease of 26.37% compared to CNY 7,380,895,485.76 in 2019[19]. - Net profit attributable to shareholders was CNY 11,042,310.24, a significant increase of 102.39% from a loss of CNY 462,882,994.87 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was CNY 47,221,049.61, up 131.87% from a loss of CNY 148,154,323.97 in 2019[19]. - The company experienced a 79.15% decline in net cash flow from operating activities, totaling CNY 131,049,643.62 compared to CNY 628,571,331.97 in 2019[19]. - Basic and diluted earnings per share were CNY 0.0087, a recovery from a loss of CNY 0.3650 per share in 2019[19]. - The total profit reached CNY 1,598.51 million, representing a year-on-year increase of 103.41%[42]. - The net profit attributable to the parent company was CNY 1,104.23 million, up 102.39% compared to the previous year[42]. Market Expansion and Strategy - User data indicated a growth in active users, reaching 2 million, which is a 15% increase compared to the previous year[14]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in sales from this region within the next two years[14]. - A strategic acquisition of a local competitor is in progress, expected to enhance production capacity by 30%[14]. - The company aims to strengthen its core technology competitiveness and increase product added value through innovation in high-end cable manufacturing[32]. - The company is positioned to benefit from ongoing infrastructure investments in China, driven by urbanization and upgrades to the national grid[31]. Research and Development - The company has invested 100 million RMB in R&D for new technologies, aiming to innovate in smart cable solutions[14]. - In 2020, the company focused on R&D for new products and technologies to enhance its innovation capabilities and market position[30]. - The company is currently developing a new type of flexible fire-resistant cable that aims to improve fire resistance performance according to BS6387 and BS8491 standards, addressing safety requirements for high-rise buildings and critical infrastructure[64]. - The company is developing low-voltage distribution system cables with oil and low-temperature resistance, aiming to replace existing plastic power cables[69]. - The company is expanding its product structure and market profitability through ongoing research and development initiatives[69]. Financial Management and Risks - The company faces risks related to industry policy changes and raw material price fluctuations, which could impact future performance[5]. - The company has pending litigation with a total amount involved of 573 million RMB due to actions taken by the former chairman, which may impact financial stability[105]. - The company has adopted a "sales-driven production" model to stabilize benefits and mitigate risks associated with raw material price fluctuations[103]. - The company has not distributed cash dividends in the last three years, with the last cash dividend in 2018 amounting to 7.608 million RMB[110]. - The company has not provided guidance for cash dividends for the current fiscal year, indicating a conservative approach to profit distribution[112]. Audit and Compliance - The audit report from Tianzhi International Accounting Firm confirmed the accuracy of the financial statements with no significant issues noted[5]. - The company received an unqualified audit report with emphasis from Tianzhi International Accounting Firm, reflecting the company's actual situation[118]. - The company has maintained its accounting firm, Tianzhi International Accounting Firm, for 13 consecutive years, with an audit fee of CNY 800,000[126]. - The company has not experienced any major accounting errors that require retrospective restatement during the reporting period[124]. Legal and Regulatory Matters - The company is currently involved in significant litigation with a total amount of CNY 150 million related to loan agreements[128]. - The company has outstanding debts totaling RMB 30 million, with interest payments only made until March 20, 2018[129]. - The company is involved in multiple civil lawsuits regarding loan agreements and guarantees[129]. - The company has initiated legal proceedings to recover RMB 49.98 million from Chongqing Xinyouda, with a total claim amounting to RMB 50.76 million including principal, interest, and legal fees[135]. Product Development and Innovation - New product development includes the launch of a high-efficiency cable line, projected to increase market share by 10%[14]. - The company has developed a high-capacity, corrosion-resistant submarine power cable with enhanced transmission capacity and durability, addressing issues like corrosion and power loss due to skin effect[65]. - The company has completed the development of environmentally friendly high-voltage cables for road vehicles, featuring excellent resistance to oil, acids, and UV, while significantly reducing manufacturing and procurement costs[66]. - The company is innovating high-temperature silicone cables for electric vehicles, addressing current performance deficiencies in existing products[69]. Shareholder and Equity Matters - The company completed a share buyback of 3,810,000 shares, accounting for 0.3% of the total share capital, with a total investment of 8.33 million yuan[115]. - The largest shareholder, Jiangsu Zhongchao Investment Group Co., Ltd., holds 17.39% of the shares, totaling 220,444,030 shares, with 219,200,000 shares pledged[197]. - The company has not engaged in any repurchase agreements during the reporting period[198]. - The company has not reported any financing or securities lending activities among its top shareholders[198].

[Important Notice](index=2&type=section&id=Item%201.%20Important%20Notice) The company's board of directors, supervisory board, and all senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report - The company's board of directors, supervisory board, and all directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report, with no false records, misleading statements, or major omissions, and assume corresponding legal responsibilities[4](index=4&type=chunk) - Company's responsible person Yu Lei, head of accounting work Xiao Yu, and head of accounting department Cao Ningli declare that the financial statements in the quarterly report are true, accurate, and complete[5](index=5&type=chunk) [Company Overview](index=3&type=section&id=Item%202.%20Company%20Overview) [Key Accounting Data and Financial Indicators](index=3&type=section&id=Item%202.1.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) As of Q3 2020, total assets decreased by 13.69% from year-end; Q3 revenue declined by 29.78% YoY, but net profit attributable to parent surged by 135.39%; YTD revenue decreased by 36.64%, with a net loss of CNY 29.7 million, narrowing by 5.99%; operating cash flow significantly deteriorated in both Q3 and YTD Key Financial Performance (CNY) | Indicator | Current Period (Q3) | YoY Change (Q3) | Year-to-Date (YTD) | YoY Change (YTD) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,335,834,148.95 | -29.78% | 3,463,411,870.52 | -36.64% | | Net Profit Attributable to Parent | 24,976,260.81 | 135.39% | -29,699,794.29 | -5.99% | | Net Profit Attributable to Parent, Excluding Non-Recurring Items | 24,656,879.18 | 555.53% | 7,375,279.17 | -70.89% | | Net Cash Flow from Operating Activities | -201,508,271.57 | -408.46% | -173,908,643.28 | -153.78% | | Basic Earnings Per Share (Yuan/Share) | 0.0197 | 135.39% | -0.0234 | -5.88% | | Total Assets | 5,519,532,581.50 | -13.69% (vs. prior year-end) | - | - | | Net Assets Attributable to Parent | 1,395,684,262.30 | -3.29% (vs. prior year-end) | - | - | - Year-to-date, the company's non-recurring gains and losses totaled **-CNY 37.075 million**, primarily due to a significant loss from the disposal of non-current assets (**-CNY 57.63 million**)[9](index=9&type=chunk) [Shareholder Information](index=4&type=section&id=Item%202.2.%20Total%20Shareholders%20and%20Top%20Ten%20Shareholders%20at%20Period-End) As of the reporting period end, the company had 89,117 common shareholders; the top two shareholders, Shenzhen Xinteng Hua Asset Management Co., Ltd. and Jiangsu Zhongchao Investment Group Co., Ltd., held 20.00% and 17.39% respectively, with a large proportion of their shares pledged or frozen - At the end of the reporting period, the company had **89,117** common shareholders[12](index=12&type=chunk) Top Ten Shareholders | Shareholder Name | Shareholding Percentage | Number of Shares Held | Share Status | Pledged/Frozen Quantity | | :--- | :--- | :--- | :--- | :--- | | Shenzhen Xinteng Hua Asset Management Co., Ltd. | 20.00% | 253,600,000 | Pledged/Frozen | 253,600,000 | | Jiangsu Zhongchao Investment Group Co., Ltd. | 17.39% | 220,444,030 | Pledged | 219,200,000 | - Among the top ten shareholders, Yang Fei, Chairman of Jiangsu Zhongchao Investment Group Co., Ltd., constitutes a related party relationship[13](index=13&type=chunk) [Significant Matters](index=6&type=section&id=Item%203.%20Significant%20Matters) [Changes and Reasons for Key Financial Data and Indicators](index=6&type=section&id=Item%203.1.%20Changes%20and%20Reasons%20for%20Key%20Financial%20Data%20and%20Indicators) Multiple financial indicators changed significantly during the reporting period, mainly due to the dual impact of subsidiary disposal and the COVID-19 pandemic, which reduced asset, liability, revenue, and expense scales, and impacted sales, receivables, and cash flow; new revenue standards also reclassified certain accounts - Year-to-date, operating revenue decreased by **36.64%** and operating costs decreased by **37.03%** year-on-year, primarily due to reduced sales from subsidiary disposals and the impact of the pandemic[26](index=26&type=chunk)[27](index=27&type=chunk) - Selling, general and administrative, and financial expenses decreased by **38.60%**, **47.55%**, and **30.99%** year-on-year, respectively, mainly due to reduced expenses following subsidiary disposals[28](index=28&type=chunk) - Net cash flow from operating activities significantly decreased by **153.78%** year-on-year, primarily because the decrease in cash inflows from operating activities was much larger than the decrease in cash outflows during the period[31](index=31&type=chunk) - Asset items such as inventory and fixed assets significantly decreased due to subsidiary disposals; other receivables significantly increased by **130.90%** due to an increase in equity transfer payments[18](index=18&type=chunk)[19](index=19&type=chunk) [Progress of Significant Matters, Impact and Solutions](index=8&type=section&id=Item%203.2.%20Progress%20of%20Significant%20Matters%2C%20Impact%20and%20Solutions) The company has two major ongoing matters: 28 lawsuits related to illegal guarantees by the former actual controller, with 10 cases already ruled in the company's favor, and the approved but uncompleted sale of a 61.11% stake in Zhongchao New Materials - The company is involved in **28** litigation cases concerning illegal guarantees by the former actual controller Huang Jinguang, of which **10** cases have been ruled by the court that the company is not liable for the guarantees, with the remaining cases still pending[32](index=32&type=chunk) - The company plans to transfer **61.11%** equity of Zhongchao New Materials to related party Jiangsu Zhongxin Electric Material Group Co., Ltd. for **CNY 55 million**, with the transaction method changed to block trade, but the equity transfer has not yet been completed[33](index=33&type=chunk) [Unfulfilled Commitments by Controlling Shareholders, Shareholders, Related Parties, Acquirers and Company](index=9&type=section&id=Item%203.3.%20Unfulfilled%20Commitments%20by%20Controlling%20Shareholders%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%20and%20Company) All commitments by the company and related parties were fulfilled on time during the reporting period, with no overdue unfulfilled commitments, including those related to avoiding horizontal competition, regulating related party transactions, and waiving voting rights - All commitments were fulfilled on time during the reporting period, with no overdue unfulfilled situations[37](index=37&type=chunk) - Key obligors including Jiangsu Zhongchao Investment Group Co., Ltd., Yang Fei, and Shenzhen Xinteng Hua Asset Management Co., Ltd. are all normally fulfilling their commitments regarding horizontal competition, related party transactions, share lock-up, and waiver of voting rights[35](index=35&type=chunk)[36](index=36&type=chunk)[37](index=37&type=chunk) [Financial Asset Investments](index=11&type=section&id=Item%203.4.%20Financial%20Asset%20Investments) The company did not engage in any securities or derivative investments during the reporting period - The company had no securities investments during the reporting period[38](index=38&type=chunk) - The company had no derivative investments during the reporting period[39](index=39&type=chunk) [2020 Annual Operating Performance Forecast](index=11&type=section&id=Item%203.6.%202020%20Annual%20Operating%20Performance%20Forecast) The company expects to turn profitable for the full year 2020, with cumulative net profit projected between CNY 8 million and CNY 12 million, driven by macroeconomic recovery post-COVID-19 and a strategy of selecting high-quality customers and orders 2020 Annual Performance Forecast (CNY 10,000) | Item | Estimated Amount | Prior Year Period | Change | | :--- | :--- | :--- | :--- | | Cumulative Net Profit | 800 -- 1,200 | -46,288.3 | 101.73% -- 102.59% | - The forecast for turning losses into profits is attributed to the recovery of the domestic macro economy and the company's strategy of prioritizing high-quality customers in order selection[41](index=41&type=chunk) [Investor Relations Activities Log](index=12&type=section&id=Item%203.11.%20Investor%20Relations%20Activities%20Log) During the reporting period, the company engaged with three individual investors via phone, addressing inquiries on illegal guarantee cases, subsidiary aerospace engine business, and current operations - The company conducted **3** phone communications with individual investors between July and September 2020[45](index=45&type=chunk) - Communication topics primarily included: progress of illegal guarantee lawsuits, subsidiary Zhongchao Aerospace's aero-engine parts business, and the company's daily operations[45](index=45&type=chunk) [Financial Statements](index=13&type=section&id=Item%204.%20Financial%20Statements) [Financial Statements](index=13&type=section&id=Item%204.1.%20Financial%20Statements) This section presents the company's consolidated and parent company balance sheets as of September 30, 2020, consolidated and parent company income statements for the current period and year-to-date, and consolidated and parent company cash flow statements for the year-to-date [Consolidated Balance Sheet](index=13&type=section&id=Item%204.1.1.%20Consolidated%20Balance%20Sheet) Consolidated Balance Sheet (CNY) | Item | Sep 30, 2020 | Dec 31, 2019 | Change | | :--- | :--- | :--- | :--- | | **Assets** | | | | | Total Assets | 5,519,532,581.50 | 6,395,048,864.49 | -13.69% | | Accounts Receivable | 2,291,411,245.01 | 2,505,930,901.88 | -8.56% | | Inventories | 633,948,641.71 | 969,175,035.46 | -34.59% | | **Liabilities** | | | | | Total Liabilities | 4,079,783,719.71 | 4,669,925,616.69 | -12.64% | | Short-term Borrowings | 1,812,754,296.07 | 2,118,189,879.21 | -14.42% | | **Equity** | | | | | Equity Attributable to Parent Company Owners | 1,395,684,262.30 | 1,443,115,112.02 | -3.29% | [Consolidated Income Statement (Q3)](index=18&type=section&id=Item%204.1.3.%20Consolidated%20Income%20Statement%20(Q3)) Consolidated Income Statement (Q3 2020, CNY) | Item | Current Period Amount (Q3 2020) | Prior Period Amount (Q3 2019) | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,335,834,148.95 | 1,902,291,123.79 | -29.78% | | Total Operating Costs | 1,307,164,949.68 | 1,896,341,620.90 | -31.07% | | Operating Profit | 30,717,100.61 | -76,491,772.48 | Turned Loss to Profit | | Net Profit | 25,551,881.93 | -71,732,283.39 | Turned Loss to Profit | | Net Profit Attributable to Parent Company Owners | 24,976,260.81 | -70,575,702.42 | 135.39% | [Consolidated Income Statement (YTD)](index=23&type=section&id=Item%204.1.5.%20Consolidated%20Income%20Statement%20(YTD)) Consolidated Income Statement (YTD 2020, CNY) | Item | Current Period Amount (YTD 2020) | Prior Period Amount (YTD 2019) | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 3,463,411,870.52 | 5,466,304,485.50 | -36.64% | | Total Operating Costs | 3,445,245,211.26 | 5,432,059,768.15 | -36.58% | | Operating Profit | -44,816,824.43 | -35,776,290.97 | -25.27% | | Net Profit | -31,845,973.28 | -24,577,744.83 | -29.57% | | Net Profit Attributable to Parent Company Owners | -29,699,794.29 | -28,022,638.58 | -5.99% | [Consolidated Cash Flow Statement (YTD)](index=27&type=section&id=Item%204.1.7.%20Consolidated%20Cash%20Flow%20Statement%20(YTD)) Consolidated Cash Flow Statement (YTD 2020, CNY) | Item | Current Period Amount (YTD 2020) | Prior Period Amount (YTD 2019) | Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -173,908,643.28 | 323,354,173.19 | -153.78% | | Net Cash Flow from Investing Activities | 59,967,604.74 | 19,259,453.88 | 211.37% | | Net Cash Flow from Financing Activities | -47,469,387.51 | -323,698,897.25 | 85.34% | | Net Increase in Cash and Cash Equivalents | -161,401,364.56 | 18,943,725.77 | -952.00% | [Explanation of Financial Statement Adjustments](index=31&type=section&id=Item%204.2.%20Explanation%20of%20Financial%20Statement%20Adjustments) Effective January 1, 2020, the company adopted new revenue standards, adjusting only the financial statements at the initial adoption date without restating prior comparative data, primarily reclassifying "Advances from Customers" to "Contract Liabilities" and "Other Current Liabilities" - The company adopted the revised "Accounting Standard for Business Enterprises No. 14 - Revenue" issued by the Ministry of Finance starting January 1, 2020, and made corresponding adjustments to the opening financial statements[83](index=83&type=chunk) Financial Statement Adjustments (CNY) | Item | Before Adjustment (2019-12-31) | After Adjustment (2020-01-01) | Adjustment Amount | | :--- | :--- | :--- | :--- | | Advances from Customers | 158,201,424.15 | 0.00 | -158,201,424.15 | | Contract Liabilities | 0.00 | 140,001,260.31 | +140,001,260.31 | | Other Current Liabilities | 58,639,048.39 | 76,839,212.23 | +18,200,163.84 | [Audit Report](index=37&type=section&id=Item%204.3.%20Audit%20Report) This quarterly report is unaudited - The company's 2020 third-quarter report is unaudited[89](index=89&type=chunk)