Revenue and Profit - Revenue for Q3 2022 reached ¥136,308,161.56, an increase of 44.55% compared to the same period last year[5] - Net profit attributable to shareholders was -¥10,245,687.44, a decrease of 61.12% year-on-year[5] - Total operating revenue for the period reached CNY 519,037,106.68, an increase of 19.0% compared to CNY 435,989,004.20 in the previous period[26] - Net profit for the period was CNY 4,977,038.44, slightly higher than CNY 4,855,275.30 in the same period last year, reflecting a growth of 2.5%[28] Assets and Liabilities - Total assets at the end of Q3 2022 amounted to ¥2,205,754,786.93, reflecting a 56.88% increase from the end of the previous year[5] - The company's total assets increased to CNY 2,205,754,786.93 from CNY 1,406,057,638.99, representing a growth of 56.8%[25] - The company's total liabilities increased to approximately 903.90 million RMB from 762.22 million RMB, representing a growth of 18.6%[24] Cash Flow - Cash flow from operating activities for the year-to-date reached ¥132,398,733.20, up 66.90%[5] - The net cash flow from operating activities for the first nine months of 2022 was ¥132,398,733.20, an increase of 66.90% compared to ¥79,329,011.09 in the same period of 2021, primarily due to higher cash receipts from sales[11] - The cash flow from investing activities showed a significant decrease of 3879.48%, resulting in a net outflow of ¥499,762,571.67, mainly due to payments for the Huaiyuan project and equipment[11] - The cash flow from financing activities increased by 581.50%, reaching ¥660,917,612.42, attributed to the proceeds from a private placement of shares[11] Investments - The company’s long-term equity investments increased by 93.03% to ¥43,189,862.47, indicating growth in investments in associated companies[8] - The company is investing in a 2GW high-efficiency heterojunction solar cell and module project in collaboration with the government of Huaiyuan County, with a total registered capital of ¥1 billion, where the company holds a 70% stake[16][17] - A joint venture was established with Xi'an University of Electronic Science and Technology and Anhui Dayu Industrial Group for the development of HJT-perovskite stacked and perovskite battery projects, with the company investing 20 million RMB for a 36.36% stake[22] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 105,793, with the top ten shareholders holding significant stakes[13] - Jiangsu Jiedeng Intelligent Manufacturing Technology Co., Ltd. is the largest shareholder, holding 26.90% of the shares, followed by Guangxun Co., Ltd. with 11.67%[13] - The employee stock ownership plan has a total fund of up to ¥120 million, with a maximum of 120 million shares available for subscription, representing 10% of the company's total share capital[18] Financial Performance - The company's equity attributable to shareholders increased by 77.56% to ¥1,116,917,337.30 compared to the end of the previous year[5] - Basic and diluted earnings per share were both CNY 0.0081, down from CNY 0.0100 in the same period last year[29] - The company reported a decrease in credit impairment losses to CNY 2,708,093.80 from CNY 4,977,963.87, a reduction of 45.5%[28] - Other comprehensive income after tax attributable to the parent company was CNY -1,595,827.72, an improvement from CNY -1,966,251.45 in the previous period[28] Project Developments - The company completed a non-public offering of 166 million shares, increasing total share capital from ¥554.034264 million to ¥720.034264 million[15] - The company established a project company for the solar project, which was officially registered on June 29, 2022[17] - The company plans to continue advancing the project investment cooperation agreement and joint venture development as per the established timeline[22] Currency and Exchange Impact - The company reported a foreign exchange impact on cash and cash equivalents of ¥1,375,854.33, a 530.88% increase compared to the previous year[11] - The impact of exchange rate changes on cash and cash equivalents was ¥1,375,854.33, compared to -¥319,316.07 in the previous period[30]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥382,728,945.12, representing a 12.01% increase compared to ¥341,693,267.30 in the same period last year[21]. - The net profit attributable to shareholders decreased by 49.26% to ¥16,046,696.13 from ¥31,626,459.98 year-on-year[21]. - The net cash flow from operating activities was ¥59,393,366.89, down 35.41% from ¥91,952,812.92 in the previous year[21]. - Basic earnings per share fell by 49.21% to ¥0.0290 from ¥0.0571 in the same period last year[21]. - Total assets at the end of the reporting period were ¥1,410,205,651.33, a slight increase of 0.30% from ¥1,406,057,638.99 at the end of the previous year[21]. - The net assets attributable to shareholders increased by 2.40% to ¥644,123,498.64 from ¥629,042,443.61 at the end of the previous year[21]. - The company reported a significant increase in investment income, reaching ¥136,707,722.73 in the first half of 2022, compared to ¥2,839,550.14 in the same period of 2021[166]. - The total profit for the first half of 2022 was ¥146,584,081.42, a substantial increase from a loss of ¥38,892.76 in the first half of 2021[166]. - The net profit for the first half of 2022 was ¥143,915,428.14, compared to a net profit of ¥1,480,472.05 in the same period of 2021[167]. - The total comprehensive income for the first half of 2022 was ¥14,853,302.34, compared to ¥32,867,800.08 in the same period of 2021[163]. Revenue Breakdown - Revenue from the intelligent manufacturing sector was ¥280,592,747.28, accounting for 73.31% of total revenue, with a year-on-year growth of 18.62%[51]. - The new energy sector generated ¥47,802,067.73 in revenue, marking a 100% increase as it had no revenue in the previous year[51]. - Domestic revenue amounted to ¥310,305,560.15, which is 81.08% of total revenue, reflecting a 19.72% increase from the previous year[51]. Investment and R&D - Research and development investment rose by 3.16% to ¥13.40 million, up from ¥12.99 million in the previous year[48]. - The R&D team consists of 142 professionals across various fields, focusing on core technologies such as photovoltaic cleaning and copper plating equipment[42]. - Jiangsu Baoxin is investing 75 million CNY in research and development for new technologies aimed at enhancing production efficiency[123]. Strategic Initiatives - The company has expanded its smart manufacturing capacity while maintaining existing major customer orders and exploring new clients in the photovoltaic and new energy vehicle charging sectors[31]. - The company is actively developing a comprehensive "light, storage, charging/replacement" strategy, aligning with national dual carbon policies to drive future growth in the new energy sector[33]. - The company aims to enhance its production capabilities in smart equipment manufacturing and accelerate the integration of "light, storage, charging/replacement" business models[37]. - The company is focusing on technological innovation and process optimization to reduce raw material costs through domestic substitution, deep optimization, and upstream layout strategies[80]. Cash Flow and Financing - The company achieved a net cash inflow from financing activities of ¥14.23 million, a significant improvement of 111.82% compared to a net outflow of ¥120.41 million in the previous year[49]. - The net cash flow from financing activities improved to CNY 14,230,894.94, recovering from a negative CNY -120,408,576.16 in the previous year[169]. - The company's cash and cash equivalents at the end of the period totaled CNY 82,336,482.22, up from CNY 30,475,225.38 at the end of the first half of 2021[169]. Market Expansion and Future Outlook - The company plans to expand its market presence with a new product launch scheduled for 2023, aiming to capture an additional 10% market share[122]. - Future guidance indicates an expected revenue growth of 15% annually through 2026, driven by new product offerings and market expansion[122]. - The company is exploring partnerships with international firms to enhance its technological capabilities and expand its global footprint[122]. Shareholder and Equity Information - The company did not distribute cash dividends or issue bonus shares for the half-year period[85]. - A total of 41 employees, including directors and senior management, hold 419,600 shares, representing 0.08% of the company's total equity[86]. - The total equity attributable to the parent company at the end of the first half of 2022 was CNY 654,495,772.44, with a significant increase from the previous year[176]. Legal and Compliance Matters - The company is currently involved in a legal dispute with Swedish Apani, claiming damages of RMB 20 million (approximately $2.8 million) for software copyright infringement[102]. - The ongoing arbitration case has a total amount in dispute of RMB 40 million (approximately $5.6 million), which includes claims against a former director[102]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[98]. Environmental and Social Responsibility - The company emphasizes a low-carbon production philosophy and aims to enhance resource utilization efficiency while reducing material waste[90]. - The company is committed to social responsibility, focusing on employee welfare, community engagement, and maintaining effective communication with investors[91].

Financial Performance - The company's operating revenue for 2021 was ¥634,475,202.15, representing a 28.02% increase compared to ¥495,610,883.41 in 2020[19]. - The net profit attributable to shareholders of the listed company was ¥12,331,866.44, a significant turnaround from a loss of ¥389,098,467.07 in 2020, marking a 103.17% improvement[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for 2021 was -37,904,574.91 CNY, an improvement of 90.39% compared to -394,458,329.01 CNY in 2020[20]. - The basic earnings per share for 2021 was 0.0223 CNY, a 103.18% increase from -0.7023 CNY in 2020[20]. - The net cash flow from operating activities for 2021 was 70,352,476.79 CNY, a decrease of 8.68% from 77,040,905.55 CNY in 2020[20]. - The total assets at the end of 2021 were 1,406,057,638.99 CNY, a decrease of 4.07% from 1,465,648,369.58 CNY at the end of 2020[20]. - The company reported a weighted average return on equity of 1.97% for 2021, a significant recovery from -47.71% in 2020[20]. - Total revenue for 2021 reached ¥634,475,202.15, representing a year-on-year increase of 28.02% compared to ¥495,610,883.41 in 2020[50]. - The smart manufacturing segment generated ¥475,993,918.92, accounting for 75.02% of total revenue, with a year-on-year growth of 28.65%[50]. - The energy-saving and environmental protection segment reported revenue of ¥158,481,283.23, a 26.15% increase from the previous year[50]. Business Strategy and Focus - The company aims to enhance its position as a comprehensive service provider in the new energy industry, focusing on smart manufacturing and innovation[29]. - The company is strategically shifting resources from its environmental business to focus on intelligent equipment manufacturing and the new energy industry due to increased market competition and declining profitability in the environmental sector[31]. - The company aims to become a comprehensive service provider in the new energy industry, with a focus on photovoltaic and new energy heavy-duty vehicle battery swap sectors, creating new profit points for future development[32]. - The company is focusing on strategic transformation towards the photovoltaic and new energy vehicle battery swap industries, alongside its existing business sectors[88]. - The company plans to leverage its production technology to develop the battery swap business, targeting applications in coal mines, power plants, and logistics centers[95]. - The company aims to optimize its organizational structure and improve operational efficiency in line with its strategic transformation towards new energy and intelligent manufacturing[96]. Research and Development - The company has a research team of 181 professionals across various fields, including mechanical design, electrical engineering, and automation, focusing on innovative product development[42]. - The company holds 176 authorized patents, including 10 invention patents and 117 software copyrights, enhancing its core competitiveness and market share[43]. - The intelligent equipment manufacturing business has maintained stable growth despite market competition and economic pressures, focusing on R&D in wet chemical process equipment for solar cells and other applications[34]. - The company is committed to research and development of new products and projects, acknowledging the cyclical risks and uncertainties associated with the R&D process[106]. Governance and Compliance - The company has established a strong governance structure, ensuring compliance with relevant laws and regulations, and enhancing its internal management and information disclosure practices[112]. - The board of directors consists of 9 members, including 3 independent directors, and operates under clear responsibilities and established rules to support effective decision-making[115]. - The company emphasizes the importance of balancing the interests of stakeholders, including shareholders, employees, and suppliers, to promote sustainable and healthy development[118]. - The company has established a performance evaluation system and an annual operational goal assessment index system to objectively evaluate employee performance, which serves as a basis for determining employee compensation and promotions[119]. - The company has implemented various information disclosure management systems to ensure timely, accurate, and complete disclosure of relevant information, enhancing operational transparency for all shareholders[120]. Environmental and Social Responsibility - The company emphasizes green development and integrates sustainable practices into its production and operations[40]. - The company has taken corrective measures to enhance hazardous waste management and improve environmental compliance[184]. - The company actively participates in community service and pandemic prevention efforts, demonstrating its commitment to social welfare[186]. - The company emphasizes its commitment to social responsibility and sustainable development, focusing on providing high-quality products and services while enhancing its competitive edge[185]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in its reports[5]. - The company is exposed to foreign exchange risks due to a certain percentage of its products being exported, and it is implementing measures such as adjusting sales terms and using forward foreign exchange contracts to mitigate these risks[107]. - Fluctuations in raw material prices, particularly for steel products, can significantly impact procurement costs and operating profits; the company is monitoring commodity prices to manage these risks[108]. - The company is undergoing a strategic transformation into the new energy and intelligent manufacturing sectors, facing risks related to the uncertainty of new business development due to policy, market, funding, and technology constraints[105]. Management Changes - The company experienced changes in its board and supervisory personnel, with several resignations and new appointments during the reporting period[132]. - The company’s chairman, Chen Dong, reduced his holdings by 5,535,000 shares, leaving him with 86,128,368 shares at the end of the period[131]. - The company has undergone significant management changes, including the election of new directors and supervisors throughout 2021[135]. - The company appointed Mr. Sheng Min as the Deputy General Manager on March 3, 2021[133]. Employee Engagement and Compensation - The company has implemented a performance management system and incentive policies to enhance employee engagement and responsibility, contributing to its strategic transformation[45]. - The company has established a competitive compensation and benefits system to support employee growth and well-being[186]. - The total remuneration for the chairman, Wang Siqi, is CNY 3.3 million, while the vice chairman and president, Zuo Yue, received CNY 9.732 million[145]. - The company has implemented a training plan to enhance employee skills and market competitiveness, including regular training sessions for various departments[170]. Subsidiaries and Investments - The company established four new subsidiaries during the reporting period, expanding its operational footprint[60]. - The company made a significant equity investment of CNY 204,443,570.90 in Suzhou Baoxin Intelligent Manufacturing Co., acquiring a 100% stake[76]. - The company has established a joint venture, Hai Jiao (Hainan) Intelligent Technology Co., Ltd., with a registered capital of RMB 20 million, where the company contributed RMB 6 million, accounting for 30%[158]. - The company completed the registration of Jiangsu Baoxin Technology Research Institute Co., Ltd. with a registered capital of RMB 30 million as part of its strategic development[159]. Related Party Transactions - The company has committed to avoiding any direct or indirect competition with its subsidiaries, ensuring business independence[190]. - The company guarantees that its assets remain independent and complete, preventing any unauthorized use of its resources by controlling shareholders[194]. - The company has outlined its commitment to fair disclosure of any unavoidable related party transactions, adhering to principles of fairness and transparency[194]. - The company has pledged to avoid any improper benefits through related party transactions, with accountability for any losses incurred due to violations of this commitment[198].

Financial Performance - The company's operating revenue for Q1 2022 was ¥171,607,400.03, a decrease of 8.22% compared to ¥186,975,276.86 in the same period last year[2] - Net profit attributable to shareholders increased by 54.78% to ¥5,577,580.42 from ¥3,603,639.54 year-on-year[2] - Basic earnings per share rose by 55.38% to ¥0.0101 from ¥0.0065 in the previous year[2] - The weighted average return on equity improved to 0.88%, up from 0.58% in the same period last year[2] - Net profit for the current period is $6.44 million, compared to $5.17 million in the previous period, indicating an increase of approximately 24.5%[29] - The total comprehensive income for the current period is $5.51 million, compared to $5.18 million in the previous period, an increase of about 6.4%[30] Cash Flow and Liquidity - The net cash flow from operating activities decreased significantly by 70.09%, amounting to ¥9,133,224.48 compared to ¥30,539,873.33 in Q1 2021[7] - The company’s cash and cash equivalents decreased by 30.14% to ¥59,788,683.70, mainly due to the maturity of deposits[6] - Cash flow from operating activities generated a net amount of $9.13 million, down from $30.54 million in the previous period, a decrease of approximately 70%[33] - Cash used for debt repayment in Q1 2022 was approximately CNY 94.93 million, an increase of 48.94% compared to CNY 63.70 million in the previous period[34] - Net cash flow from financing activities improved to CNY 24.75 million in Q1 2022, compared to a negative cash flow of CNY 25.37 million in the same period last year[34] - The ending balance of cash and cash equivalents as of the end of Q1 2022 was CNY 35.60 million, a decrease from CNY 88.05 million at the end of the previous period[34] Assets and Liabilities - Total assets increased by 3.02% to ¥1,448,457,776.55 from ¥1,406,057,638.99 at the end of the previous year[2] - The company's total liabilities increased to 803,309,094.08 RMB from 762,215,168.89 RMB, reflecting a rise of about 5.0%[25] - The company's current assets totaled 747,613,000.01 RMB, up from 685,761,288.02 RMB at the beginning of the year, indicating a growth of approximately 9.0%[24] - The company's non-current assets totaled 700,844,776.54 RMB, down from 720,296,350.97 RMB, indicating a decrease of about 2.0%[26] Shareholder Information - Total number of common shareholders at the end of the reporting period is 24,695[8] - The largest shareholder, Guangxun Co., Ltd., holds 15.16% of shares, totaling 84,000,000 shares[8] - Chen Dong, the second-largest shareholder, owns 14.55% with 80,588,368 shares, of which 80,163,286 shares are pledged and 28,410,000 shares are frozen[8] - The top ten shareholders collectively hold significant stakes, with the top three alone accounting for over 34% of total shares[8] Legal Matters - The company has ongoing legal matters regarding performance commitments from Shanghai Apani, with potential financial implications if commitments are not met[10] - Shanghai Apani has reported consecutive losses for three years, with a net asset value of -128 million RMB as of December 31, 2016[11] - A court ruling in 2019 mandated that the individual responsible for the losses must compensate the company for specific amounts related to previous years' losses[13] - The company is actively pursuing legal remedies to recover losses from Shanghai Apani's performance shortfalls[12] - The company is actively responding to an arbitration case initiated by Swedish Apani, claiming RMB 20 million for software copyright infringement and RMB 20 million for competition violations, totaling RMB 40 million[16] - The company has been involved in legal disputes with Swedish Apani since December 2020, with arbitration proceedings ongoing as of the report date[16] Investments and Subsidiaries - The company’s investment activities generated a net cash outflow of ¥27,226,264.36, significantly higher than the previous year's outflow of ¥3,471,744.28, due to increased fixed asset purchases[7] - The company’s subsidiary, Nanjing Youzhi Technology, acquired a 14% stake in Huineng Electric for RMB 4.2 million, increasing its ownership to 65%[19] - The company established a wholly-owned subsidiary, Jiangyin Baoxin Intelligent Technology, with a registered capital of RMB 8 million to support strategic development and regional expansion[19] - Jiangsu Baoxin New Energy Technology Co., Ltd. acquired 70% of Xuzhou Tongjia Construction Engineering Co., Ltd. for 0 RMB, enhancing competitiveness in the new energy photovoltaic sector[20] Stock Issuance and Employee Plans - The company signed a non-public stock issuance agreement with Jiangsu Jiedeng on January 27, 2021, to issue up to 166 million shares at a price of RMB 2.96 per share, raising no more than RMB 491.36 million[17] - The company’s first employee stock ownership plan has a total funding of up to RMB 120 million, with a maximum of 120 million shares, representing 10% of the total share capital[17] - The company extended the purchase period for its first employee stock ownership plan by six months to November 4, 2022, due to delays in financing arrangements[19] Operational Efficiency - The company reported a significant decrease in R&D expenses, which fell to $5.18 million from $7.19 million, a decline of about 27.9%[28] - The company completed the absorption and merger of its wholly-owned subsidiary Jiangsu Deloitte Environmental Technology Co., Ltd., optimizing resource allocation and reducing management costs[20] - The company reported a decrease in sales expenses to $3.51 million from $5.40 million, a reduction of approximately 35%[28]

Financial Performance - The company's revenue for Q3 2021 was ¥94,295,736.90, a decrease of 16.21% compared to the same period last year[3]. - The net profit attributable to shareholders was -¥26,355,027.54, showing a slight increase of 0.28% year-on-year[3]. - The net profit after deducting non-recurring gains and losses was -¥22,689,037.04, an increase of 16.43% compared to the previous year[3]. - Total operating revenue for the third quarter of 2021 reached ¥435,989,004.20, compared to ¥339,074,199.01 in the same period last year, representing a significant increase[28]. - The company reported a net profit of ¥4,855,275.30 for the third quarter, a recovery from a net loss of ¥47,269,087.19 in the previous year[30]. - The comprehensive income totalled ¥2,889,023.85, a recovery from a loss of ¥47,652,946.42 in the same period last year[30]. - The basic earnings per share for the third quarter was reported at ¥0.01, recovering from a loss of ¥0.08 in the same quarter last year[30]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,358,759,473.58, a decrease of 7.29% from the end of the previous year[3]. - The total assets decreased to ¥1,358,759,473.58 from ¥1,465,648,369.58, indicating a reduction in overall asset base[26]. - Current liabilities decreased from ¥706,115,604.50 to ¥639,643,183.72, reflecting improved liquidity management[26]. - Non-current liabilities also saw a decline from ¥126,184,770.98 to ¥82,879,271.91, indicating a reduction in long-term financial obligations[26]. - Total liabilities amounted to ¥832,300,375.48 as of October 1, 2021[37]. - The company reported a negative retained earnings of ¥219,788,482.89, indicating accumulated losses[38]. Cash Flow - Cash flow from operating activities for the year-to-date was ¥79,329,011.09, a decrease of 4.65% compared to the previous year[3]. - The net cash flow from operating activities for Q3 2021 was ¥79,329,011.09, a decrease of 4.4% compared to ¥83,197,912.61 in the same period last year[32]. - The total operating cash inflow was ¥471,148,588.71, compared to ¥523,521,519.44 in the prior year, reflecting a decline of approximately 10%[32]. - The net cash flow from financing activities was -¥137,261,894.04, worsening from -¥33,898,448.84 year-over-year[33]. - Cash and cash equivalents at the end of Q3 2021 stood at ¥9,641,837.36, down from ¥62,923,246.52 at the end of the previous year[33]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 27,067[12]. - The largest shareholder, Chen Dong, holds 15.55% of shares, totaling 86,128,368 shares[12]. - The second largest shareholder, Guangxun Limited, holds 15.16% of shares, totaling 84,000,000 shares[12]. - The third largest shareholder, Zhu Yongfu, holds 5.82% of shares, totaling 32,271,487 shares[12]. - The top ten shareholders collectively hold significant portions of the company's equity, indicating concentrated ownership[12]. - No shareholders among the top ten are engaged in margin trading activities[13]. Legal and Regulatory Matters - The company has faced legal challenges regarding performance commitments from a previous acquisition, with ongoing litigation[15]. - A court ruling mandated compensation from a former shareholder for losses incurred during specific fiscal years[17]. - The company received an execution fee of RMB 641,467 related to a legal case, indicating ongoing legal proceedings to protect its interests[18]. - The company is involved in an arbitration case with Swedish Apani, claiming damages of RMB 40 million, which is still ongoing[20]. Research and Development - Research and development expenses decreased by 35.64% to ¥20,858,852.08, reflecting a reduction in selected project investments[9]. - The company has established a research institute with a total registered capital of RMB 3 million and plans to set up four branches with a total investment not exceeding RMB 7 million[21]. Asset Management - The company experienced a significant increase in accounts receivable, up 741.71% to ¥27,596,765.82, due to more commercial acceptance bills received[7]. - The company reported a 115,639.53% increase in asset disposal income to ¥24,488,222.08, primarily from the sale of an old factory[9]. - The company’s cash flow from the disposal of fixed assets increased by 72,922.10% to ¥37,168,247.37, attributed to the sale of the old factory[10]. - Long-term equity investments increased to approximately RMB 21.04 million from RMB 14.01 million, reflecting a growth of 50.2%[24]. Financial Adjustments - The company implemented new leasing standards starting in 2021, which required adjustments to the financial statements[34]. - The company has not undergone an audit for the third quarter report[39]. - The report indicates a capital reserve of ¥269,357,491.80, contributing to the overall equity[38]. - The company has a contract liability of ¥39,008,560.88, which may indicate future revenue recognition[37]. - The company’s employee compensation payable was reported at ¥15,528,447.21, reflecting its obligations to staff[37]. Future Plans - The company plans to issue up to 16.6 million shares at a price of RMB 2.96 per share, aiming to raise no more than RMB 49.14 million for working capital and debt repayment[20]. - The company has established a wholly-owned subsidiary in Bengbu, Anhui Province, to implement a smart manufacturing industrial park project[21]. - The company has transferred assets related to its precision CNC sheet metal business to its wholly-owned subsidiary, with the transfer process still in progress[22]. Market Position - The company has not disclosed any new product developments or market expansion strategies in the report[40].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥341,693,267.30, representing a 50.83% increase compared to ¥226,540,465.07 in the same period last year[20]. - The net profit attributable to shareholders of the listed company reached ¥31,626,459.98, a significant turnaround from a loss of ¥20,400,431.09 in the previous year, marking a 255.03% increase[20]. - The net profit after deducting non-recurring gains and losses was ¥10,114,014.44, compared to a loss of ¥22,693,947.55 in the same period last year, reflecting a 144.57% improvement[20]. - The net cash flow from operating activities was ¥91,952,812.92, up 60.11% from ¥57,430,665.32 in the previous year[20]. - Basic earnings per share increased to ¥0.0571 from a loss of ¥0.04, representing a 242.75% improvement[20]. - The weighted average return on net assets was 4.97%, a rise of 7.15 percentage points from -2.18% in the previous year[20]. - The company achieved a revenue of 342 million yuan, representing a year-on-year growth of 50.83%[29]. - The net profit attributable to shareholders was 31.63 million yuan, with a year-on-year increase of 255.03%[29]. - The company reported a significant increase in investment cash flow, with a net inflow of ¥4,523,897.03 compared to a net outflow of ¥51,177,570.94 in the previous year, marking a 108.84% change[36]. - The total comprehensive income for the first half of 2021 was ¥32,867,800.08, a recovery from a loss of ¥19,907,602.03 in the same period of 2020[155]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,402,429,379.01, a decrease of 4.31% from ¥1,465,648,369.58 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company increased by 4.98% to ¥651,103,454.69 from ¥620,196,927.62 at the end of the previous year[20]. - The company's total liabilities decreased from CNY 832,300,375.48 to CNY 736,213,584.83, a reduction of approximately 11.5%[146]. - The total liabilities of the company at the end of the first half of 2021 are 5,794.00 million yuan, reflecting an increase from 3,454.00 million yuan in the same period last year, which is an increase of approximately 67.5%[170]. - The company's equity attributable to shareholders increased from CNY 620,196,927.62 to CNY 651,103,454.69, an increase of about 5.0%[146]. Business Operations - The main business segments include precision CNC sheet metal manufacturing, intelligent equipment manufacturing, flexible peak-shaving power generation, and environmental protection services[27]. - The company operates under a "sales-driven production" model, focusing on OEM and ODM cooperation modes[28]. - The production capacity spans approximately 170,000 square meters across factories in Suzhou, Xiamen, and the Philippines[31]. - The company has established a comprehensive product and process technology development system, supported by a dedicated R&D team and multiple technology patents[32]. - The company emphasizes green development, integrating sustainable practices into its production and operations[32]. - The company is involved in the manufacturing of specialized equipment for various industries, including urban rail transit and high-speed rail equipment[54]. - The company has expanded its product offerings to include intelligent drones and rubber processing equipment[53]. - The company is engaged in various sectors including automation control systems, medical device manufacturing, and environmental protection equipment, indicating a diverse business portfolio[65]. Research and Development - Research and development expenses decreased by 27.72% to ¥12,986,097.89 from ¥17,966,371.48 in the previous year[36]. - The company is focusing on research and development of new products and technologies, with an emphasis on building a strong R&D platform through innovation and external collaboration[68]. - The company is actively engaged in research and development of new technologies and products to enhance its market position[54]. Market and Strategic Initiatives - The company is actively expanding its market presence through strategic investments and partnerships in technology and manufacturing sectors[52]. - The company plans to continue expanding its market presence in environmental monitoring and energy sectors[60]. - The company has plans for market expansion in the fields of industrial robots and special operation robots manufacturing[54]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its product offerings[65]. Risk Management - The report highlights potential risks and countermeasures that the company may face in its future operations[6]. - The company faces human resource risks due to rising labor costs and the need for skilled personnel amid its business transformation and expansion efforts[67]. - Raw material price fluctuations pose a risk to procurement costs, as major materials constitute a significant portion of production costs[69]. - The company is exposed to foreign exchange risks due to a certain proportion of export products, which may affect operating performance[69]. Legal and Compliance - The company has initiated legal proceedings against Yuan Rongmin for failing to fulfill performance compensation obligations, with the case accepted by the Suzhou Tiger Hill District People's Court on March 15, 2017[84]. - The company is involved in a legal dispute with Shanghai Apani Electric Technology Group Co., Ltd. regarding a loan case amounting to CNY 41.45 million, with the case currently in execution phase[91]. - The company has successfully applied for enforcement against Nanjing Zhouwang for the remaining debt of CNY 3.55 million after initial payments were not fulfilled[92]. - The company has not reported any significant equity sales during the period[61]. - The company has not reported any new product launches or technological advancements during this period[173]. Corporate Governance - The company has undergone significant changes in its board of directors and management team, with multiple appointments and departures in early 2021[73][74]. - The company’s board and supervisory board were re-elected in January 2021 after a delay due to shareholder agreement transfers[119]. - The company is committed to enhancing its operational efficiency and risk management capabilities to support sustainable growth amid increasing regulatory requirements[67]. Employee Relations - The company provides competitive compensation and benefits to employees, supporting their personal growth and well-being[79]. - The company has implemented a performance management system to enhance employee motivation and innovation[34]. Future Outlook - Future guidance indicates a commitment to continuous innovation and strategic partnerships to drive growth[54]. - The company anticipates continued growth in revenue and profitability in the upcoming quarters, driven by increased demand for its products and services[63].

Financial Performance - The company's revenue for Q1 2021 was CNY 186,975,276.86, representing a 55.37% increase compared to CNY 120,339,080.38 in the same period last year[9]. - Net profit attributable to shareholders was CNY 3,603,639.54, up 115.27% from CNY 1,673,970.29 year-on-year[9]. - The net profit after deducting non-recurring gains and losses surged by 752.17% to CNY 3,236,993.48 from CNY 379,853.94 in the previous year[9]. - Basic earnings per share rose to CNY 0.0065, a 116.67% increase from CNY 0.0030[9]. - The company reported a 72.77% increase in investment income, totaling ¥3,968,577.33, attributed to higher profits from an associated company[17]. - The company reported a basic and diluted earnings per share of ¥0.0065, an increase from ¥0.0030 in the previous period[54]. - Net profit for the current period was ¥5,167,690.81, compared to ¥1,659,599.77 in the previous period, reflecting a growth of approximately 211.5%[53]. Cash Flow - The net cash flow from operating activities increased by 376.58% to CNY 30,539,873.33, compared to CNY 6,408,084.21 in the same period last year[9]. - The net cash flow from operating activities for Q1 2021 was CNY 33,952,505.17, an increase of 159.5% compared to CNY 13,083,735.92 in the same period last year[65]. - Total cash inflow from operating activities was CNY 99,692,925.56, up from CNY 74,160,589.76 in Q1 2020, representing a growth of 34.5%[65]. - Cash outflow from operating activities totaled CNY 65,740,420.39, compared to CNY 61,076,853.84 in the previous year, indicating a rise of 7.3%[65]. - The net cash flow for the period was CNY 7,046,544.59, a significant improvement from negative CNY 2,491,688.83 in the previous year[66]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,488,443,993.09, reflecting a 1.56% increase from CNY 1,465,648,369.58 at the end of the previous year[9]. - The company's total liabilities increased to CNY 849,920,334.59 from CNY 832,300,375.48, reflecting a rise of about 2.5%[45]. - The total equity attributable to shareholders rose slightly to CNY 623,808,540.75 from CNY 620,196,927.62, indicating a growth of approximately 0.3%[46]. - As of March 31, 2021, the company's cash and cash equivalents decreased to ¥95,822,922.18 from ¥115,016,009.94 as of December 31, 2020, representing a decline of approximately 16.5%[43]. - The company's inventory slightly decreased to ¥188,948,598.01 from ¥192,014,952.02, reflecting a reduction of approximately 1.6%[43]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 28,249[12]. - The company’s major shareholder, Jiangsu Jiedeng, holds 23.24% of the total shares, with 21.52% of shares pledged[25]. - The company is undergoing a change in control, with Jiangsu Jiedeng becoming the largest shareholder and Ma Wei as the actual controller[27]. Legal and Compliance Issues - The company has faced legal challenges regarding performance commitments from a previous acquisition, with ongoing litigation to enforce these commitments[19][20][22]. - The company is involved in an arbitration case with Swedish Apani, claiming damages of RMB 20 million for software copyright infringement and an additional RMB 20 million for competition violations, totaling RMB 40 million[29][30]. - The company has engaged an international legal team to respond to the arbitration claims and is actively working to protect its legal rights[30]. - The company is actively pursuing legal actions to enforce performance commitments from a former stakeholder, with ongoing litigation since 2017[32][33]. Operational Costs - Operating costs rose to ¥142,295,282.79, an increase of 72.95%, primarily due to the corresponding rise in revenue[17]. - Management expenses increased by 45.83% to ¥17,327,963.17, mainly due to litigation costs incurred during the period[17]. - The company experienced a 2014.30% rise in other expenses, amounting to ¥229,905.86, primarily due to asset write-offs[17]. Changes in Financial Reporting - The company has adopted new leasing standards starting January 1, 2021, affecting the presentation of financial statements[72]. - The company has not conducted an audit for the first quarter report[73].

Shareholder Changes - The company reported a significant change in its controlling shareholder, with Jiangsu Jiedeng becoming the largest shareholder after acquiring 27,701,714 shares, representing 5% of the total share capital[17]. - The company’s total share capital is 554,000,000 shares, with the new controlling shareholder holding 18.24% of the voting rights[17]. - The company has not reported any changes in its main business since its listing[17]. - The company has no plans to seek control from its second-largest shareholder, Guangxun Co., Ltd., which holds 15.16% of shares[113]. - The shares acquired by Jiangsu Jiedeng will be locked for 18 months post-acquisition[112]. - The voting rights entrusted to Jiangsu Jiedeng will last for at least 18 months[113]. - The company has committed to maintaining independent financial management and decision-making processes, ensuring no interference from major shareholders[114]. - The company guarantees the independence of its operations and management from its controlling shareholders[113]. Financial Performance - The company's operating revenue for 2020 was ¥495,610,883.41, a decrease of 40.08% compared to ¥827,113,771.26 in 2019[19]. - The net profit attributable to shareholders was -¥389,098,467.07, representing a decline of 686.90% from ¥66,297,412.32 in the previous year[19]. - The net cash flow from operating activities decreased by 65.91% to ¥77,040,905.55 from ¥225,977,305.07 in 2019[19]. - The total assets at the end of 2020 were ¥1,465,648,369.58, down 17.64% from ¥1,779,538,505.81 at the end of 2019[19]. - The net assets attributable to shareholders decreased by 38.66% to ¥620,196,927.62 from ¥1,011,026,884.05 in 2019[19]. - The company reported a basic earnings per share of -¥0.7023, a decline of 686.72% from ¥0.1197 in 2019[19]. - The company's total revenue for 2020 was approximately 495.61 million yuan, representing a year-on-year decline of 40.08%[39]. - The company's net profit attributable to shareholders was -389 million yuan, a significant decrease of 686.90% compared to the previous year[39]. Revenue Breakdown - Revenue from the intelligent manufacturing segment was approximately 369.98 million yuan, accounting for 74.65% of total revenue, with a decrease of 36.39% compared to 2019[42]. - The energy-saving and environmental protection segment generated approximately 125.63 million yuan, which is 25.35% of total revenue, showing a decline of 48.82% year-on-year[42]. - The company reported a significant decline in revenue from wet chemical equipment, which fell by 80.70% year-on-year, amounting to approximately 26.40 million yuan[42]. - The company's foreign revenue was approximately 125.71 million yuan, accounting for 25.36% of total revenue, with a year-on-year decline of 50.30%[43]. - The total revenue from equipment accessories was approximately ¥321.82 million, with a year-over-year decline of 14.81%[45]. Operational Changes - The company has a production capacity across three factories in Suzhou, Xiamen, and the Philippines, covering a total area of approximately 170,000 square meters[32]. - The company has established a stable supply chain management system and has obtained multiple management system certifications, including ISO9001:2015 and IATF 16949:2016[33]. - The company plans to accelerate the construction of smart factories to enhance its intelligent manufacturing capabilities during the 14th Five-Year Plan period[33]. - The company achieved a 272.63% increase in other business revenue, which amounted to approximately 22.42 million yuan in 2020[43]. - The company’s fixed assets increased by 10.96% primarily due to the completion of the large plate peak-shaving project[29]. Research and Development - Research and development expenses increased by 1.56% to ¥54.48 million, accounting for 10.99% of total revenue, up from 6.48% the previous year[56]. - The company plans to enhance its precision CNC sheet metal business by implementing automation and digitalization to reduce costs and improve efficiency[86]. - The company will continue to strengthen its manufacturing advantages in wet chemical silicon battery equipment and increase R&D investment in cutting-edge battery technologies[87]. - The company will increase R&D investment and establish a technology research institute to support the development of new technologies and products aligned with market demands[90]. Risk Management - The company emphasizes the importance of investors reading the forward-looking statements carefully to understand potential risks[6]. - Management risks are heightened by the diverse business models and cultural backgrounds of subsidiaries, requiring enhanced management and risk control[97]. - The company plans to strengthen audit supervision and internal control management to enhance risk management capabilities[94]. - Exchange rate fluctuations pose risks to the company's operating performance, with measures in place to mitigate these effects[100]. - Raw material price volatility, particularly for key components, significantly affects procurement costs and operational profits[101]. Corporate Governance - The company maintains complete and independent ownership of all assets post-acquisition, ensuring no mixed operations or asset ambiguity[110]. - The company will maintain a sound corporate governance structure, with independent decision-making by the board and management[110]. - The company commits to avoiding any direct or indirect competition with its subsidiaries, ensuring no conflicts in business operations[111]. - The company guarantees the independence of its labor and personnel management systems, ensuring no interference from the parent company[110]. - The company has established a framework for fair and reasonable related transactions to protect the rights of minority shareholders[118]. Legal Matters - The company has initiated legal proceedings to enforce the court's judgment after Yuan Rongmin failed to fulfill his payment obligations[123]. - The company faced a lawsuit involving a claim of 28.33 million yuan related to a share transfer dispute, which was dismissed in a retrial[131]. - Another ongoing arbitration case involves a claim of 20 million yuan from a Swedish company regarding software infringement, with the case still in progress[131]. - The company reported no penalties or rectification measures during the reporting period[132]. Employee Management - The total number of employees in the company is 1,524, with 878 in the parent company and 646 in major subsidiaries[197]. - The company has a comprehensive training system for new employees and encourages continuous education, contributing to employee personal growth and well-being[152]. - The company emphasizes talent development through a structured training program, including onboarding, technical training, and management training for mid-to-senior level staff[200]. - The company has a salary management system that adjusts employee compensation based on operational performance and regional living standards[199].

Financial Performance - Operating revenue for the reporting period was CNY 112,533,733.94, down 32.82% year-on-year, and CNY 339,074,199.01 for the year-to-date, down 43.44%[9] - Net profit attributable to shareholders was a loss of CNY 26,429,212.37, a decrease of 713.33% year-on-year, with a year-to-date loss of CNY 46,829,643.46, down 159.80%[9] - Basic and diluted earnings per share were both CNY -0.05, a decrease of 600.00% year-on-year[9] - The weighted average return on equity was -2.56%, a decrease of 3.01% compared to the previous year[9] - Total operating revenue for Q3 2020 was ¥112,533,733.94, a decrease of 32.8% compared to ¥167,517,120.07 in Q3 2019[54] - The net loss for Q3 2020 was ¥26,861,621.10, compared to a net profit of ¥4,309,125.20 in Q3 2019[56] - The total comprehensive income for the third quarter was CNY -47,652,946.42, a significant decrease from CNY 78,065,140.95 in the previous period[66] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,709,474,672.84, a decrease of 3.94% compared to the previous year[9] - Current assets decreased to CNY 726,736,324.36 from CNY 843,584,775.17, representing a decline of about 13.8%[45] - Total liabilities decreased to CNY 731,426,396.07 from CNY 753,837,282.62, reflecting a reduction of approximately 3.0%[48] - Short-term borrowings increased to CNY 318,810,100.00 from CNY 285,507,703.52, an increase of about 11.6%[46] - The company's retained earnings decreased to CNY 122,480,340.72 from CNY 169,309,984.18, a decline of about 27.7%[48] - The total equity attributable to shareholders decreased to CNY 963,813,381.36 from CNY 1,011,026,884.05, reflecting a decrease of approximately 4.7%[48] Cash Flow - The net cash flow from operating activities was CNY 25,767,247.29, an increase of 54.06% compared to the same period last year[9] - Cash received from tax refunds dropped by 79.98% to CNY 5,068,814.22, mainly due to a decrease in VAT refunds[21] - Cash paid for purchasing goods and services decreased by 39.07% to CNY 249,359,545.20, reflecting reduced procurement due to lower revenue[21] - The net cash flow from operating activities for Q3 2020 was ¥51,939,281.81, a significant increase from ¥17,144,368.61 in the same period last year, representing a growth of approximately 203.4%[76] - The total cash inflow from financing activities is ¥281,067,898.65, down from ¥391,306,599.08 in the previous period[73] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 25,598[13] - The top shareholder, Chen Dong, held 21.54% of the shares, amounting to 119,365,082 shares, with 89,523,811 shares pledged[13] - The company’s controlling shareholders, Chen Dong and Wang Min, pledged 12,691,252.6 shares, representing 22.91% of the total share capital[28] Legal and Compliance Issues - The company is actively pursuing legal actions to enforce a court ruling against a former shareholder for unpaid losses totaling CNY 22,000,000.00[26] - The company has not fulfilled certain commitments made by its actual controller and shareholders within the specified timeframe[32] - The court ruled that Yuan Rongmin must pay RMB 1,746,704.09 for the 2014 loss and RMB 20,906,185.99 for the 2015 loss, along with interest calculated from specific dates[33] Investment and Expenses - Investment income increased by 225.09% to CNY 1,432,762.02, attributed to profits from affiliated companies and returns from financial products[20] - Research and development expenses for Q3 2020 were ¥14,445,043.02, down from ¥17,189,647.52 in Q3 2019, a decrease of 15.9%[54] - The company reported an investment income of CNY 19,076,073.28, a significant improvement from a loss of CNY 1,460,763.88 in the previous period[60] Miscellaneous - The company conducted an on-site investigation with CITIC Securities to discuss business conditions on May 14, 2020[41] - The company does not have any securities or derivative investments during the reporting period[34][35] - There were no significant changes in major contracts that would affect the contract amounts by more than 30%[36]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥226,540,465.07, a decrease of 47.56% compared to ¥431,963,344.37 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was a loss of ¥20,400,431.09, representing a decline of 127.57% from a profit of ¥74,000,688.63 in the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥22,693,947.55, down 131.51% from ¥72,025,917.02 in the same period last year[17]. - The net cash flow from operating activities was ¥57,430,665.32, a decrease of 18.02% compared to ¥70,054,758.17 in the previous year[17]. - The total assets at the end of the reporting period were ¥1,750,441,916.69, a decrease of 1.64% from ¥1,779,538,505.81 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company were ¥991,126,317.02, down 1.97% from ¥1,011,026,884.05 at the end of the previous year[17]. - The company's operating revenue for the reporting period was 226.54 million yuan, a year-on-year decrease of 47.56% due to the impact of the COVID-19 pandemic[38]. - The net profit attributable to shareholders was -20.40 million yuan, a decline of 127.57% compared to the previous year[38]. - Research and development investment decreased by 27.08% to 17.97 million yuan[40]. - The revenue from the intelligent manufacturing segment was 165.57 million yuan, accounting for 73.08% of total revenue, with a decrease of 47.10% year-on-year[42]. - The revenue from energy-saving and environmental protection segment was 60.97 million yuan, representing 26.92% of total revenue, down 48.75% year-on-year[42]. - The company's gross profit margin for the intelligent manufacturing segment was 18.34%, a decrease of 12.05% compared to the previous year[43]. - The company reported a net profit margin of approximately 10.5% for the first half of 2020, reflecting ongoing operational challenges[137]. - The company reported a comprehensive income total of -10,490,301.56 CNY for the current period, indicating a significant decline in profitability[163]. Investments and Assets - The company's overseas asset in the Philippines has a registered capital of $4 million, contributing to 3.97% of the company's net assets with a net profit of 319,676.13 yuan for the first half of 2020[29]. - The total assets of the company as of June 30, 2020, were CNY 1,222,226,370.92, down from CNY 1,272,782,124.09 at the end of 2019[139]. - The total liabilities of the company at the end of the first half of 2020 were 2,440.00 million yuan, compared to 2,720.00 million yuan at the end of the first half of 2019, showing a decrease of approximately 10.3%[158]. - The company’s total assets at the end of the first half of 2020 were 3,505.34 million yuan, compared to 3,664.96 million yuan at the end of the first half of 2019, indicating a decrease of about 4.34%[156]. - The total equity attributable to the parent company at the end of the reporting period was 794,886,800.00 CNY, a decrease of 10,490,301.56 CNY compared to the previous period[162]. Research and Development - Youzhi Technology has developed a zero-discharge electrochemical process technology for desulfurization wastewater, significantly reducing sludge volume compared to traditional methods and saving on coagulant costs[33]. - The company has obtained 8 invention patents, 134 utility model patents, and 3 design patents as of June 30, 2020, showcasing its strong R&D capabilities[33]. - Research and development expenses for the first half of 2020 were CNY 17,966,371.48, down 26.9% from CNY 24,637,155.00 in the first half of 2019[140]. - The company is focusing on the research and development of new products and projects, acknowledging the cyclical risks associated with the time required for R&D to yield market benefits[66]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company continues to pursue growth in smart manufacturing while engaging in external growth strategies[24]. - The company plans to continue strengthening brand building and intellectual property management to enhance development quality and efficiency[35]. - The company plans to focus on expanding its market presence and developing new technologies in the upcoming quarters[159]. - The company has indicated a strategic shift towards enhancing its product offerings and exploring potential mergers and acquisitions to drive growth[159]. - The management expressed optimism about future performance despite the current financial challenges, aiming for a recovery in the latter half of 2020[159]. Legal and Compliance - The company has ongoing litigation involving a claim against Yuan Rongmin for a total amount of CNY 28.33 million, which has been dismissed[76]. - The company has also filed a lawsuit against Shanghai Apani Electric Power Technology (Group) Co., Ltd. for a loan amounting to CNY 41.45 million, which has been concluded[76]. - The company plans to enhance the enforcement of its legal rights following the recent court rulings[76]. - The half-year financial report has not been audited[74]. - There were no significant related party transactions during the reporting period[80]. - The company has not experienced any penalties or rectification situations during the reporting period[78]. Financial Management - The company reported a total investment of CNY 0 during the reporting period, a significant decrease of 100% compared to CNY 6,500,000 in the same period last year[53]. - The company has no significant equity investments or non-equity investments during the reporting period[54]. - The company did not engage in any securities or derivative investments during the reporting period[56][57]. - The company’s total financial liabilities remained at CNY 0, indicating no financial debt[50]. - The company’s investment in financial assets was entirely sourced from its own funds, with no external financing[55]. - The company has ongoing construction projects for new facilities in Xiamen, contributing to an increase in construction in progress to 101.59 million yuan[49]. Human Resources and Management - The company emphasizes talent management by establishing graduate and postdoctoral workstations, enhancing its human resource capabilities for technological innovation[34]. - Management expenses have increased due to the expansion of the company's operations, impacting profit margins; the company plans to strengthen budget management to control these expenses[66]. Market and Industry - The company operates in the metal products industry, specifically in the CNC sheet metal sector, focusing on medical device components and various precision sheet metal structures[168]. - The company has plans for market expansion in the fields of energy equipment and environmental technology[170]. - The company is engaged in various activities including the leasing of factories and equipment, and the provision of engineering services[170].