Financial Performance - The company's operating revenue for Q1 2019 was ¥443,063,360.15, representing a 21.07% increase compared to ¥365,945,415.87 in the same period last year[7] - The net profit attributable to shareholders for Q1 2019 was ¥4,641,404.76, an increase of 18.52% from ¥3,916,180.69 in the previous year[7] - The total operating revenue for Q1 2019 was CNY 443,063,360.15, an increase of 20.9% compared to CNY 365,945,415.87 in the same period last year[49] - The total profit for the first quarter was CNY 6,661,284.37, up from CNY 3,863,354.37 in the previous year, indicating a year-over-year increase of about 72.3%[55] - The company's operating profit was CNY 6,199,669.75, compared to CNY 3,760,936.13 in the previous period, reflecting a growth of approximately 64.7%[55] - The net profit for the first quarter of 2019 was CNY 5,662,091.71, compared to CNY 3,283,851.21 in the same period last year, representing a growth of approximately 72.3%[55] - The total comprehensive income for the first quarter was CNY 5,662,091.71, an increase from CNY 3,283,851.21 in the previous year[56] Cash Flow - The net cash flow from operating activities improved to -¥77,746,528.76, a reduction of 18.86% compared to -¥95,813,378.32 in the same period last year[7] - The net cash flow from operating activities was -77,746,528.76 CNY, compared to -95,813,378.32 CNY in the previous year, indicating an improvement of approximately 18.5%[59] - Total cash inflow from operating activities was 372,155,373.11 CNY, while cash outflow was 449,901,901.87 CNY, resulting in a net cash outflow of 77,746,528.76 CNY[60] - The ending balance of cash and cash equivalents decreased to 110,158,154.11 CNY from 186,569,499.91 CNY, reflecting a decline of approximately 41%[60] - The company received 14,733,340.99 CNY in cash related to operating activities, down from 31,766,112.85 CNY, indicating a decline of approximately 53.6%[59] - The cash flow from operating activities was impacted by a total outflow of 449,901,901.87 CNY, which included payments to suppliers and employees totaling 346,389,777.04 CNY and 32,017,903.60 CNY respectively[60] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,963,920,843.54, reflecting a 2.68% increase from ¥1,912,641,534.78 at the end of the previous year[7] - The company's total assets amounted to CNY 1,963,920,843.54 as of March 31, 2019, compared to CNY 1,912,641,534.78 at the end of 2018[41] - The total liabilities increased to CNY 746,546,064.28 from CNY 698,723,662.80, reflecting a growth of 6.9%[48] - Current liabilities reached CNY 490,393,176.29, while total liabilities were CNY 708,144,597.81[67] - The company's total non-current assets decreased to CNY 568,247,778.64 as of March 31, 2019, from CNY 580,371,028.01 at the end of 2018[41] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 32,525[11] - The top shareholder, Song Bin, holds 7.26% of the shares, totaling 25,704,287 shares[11] - The net assets attributable to shareholders increased to ¥1,191,484,622.80, a slight rise of 0.51% from ¥1,185,482,362.05 at the end of the previous year[7] - The total equity attributable to shareholders increased to CNY 1,193,252,160.56 from CNY 1,187,590,068.85, reflecting a growth of 0.5%[48] Expenses and Impairments - The total operating costs for Q1 2019 were CNY 446,510,555.63, up from CNY 369,140,238.03, reflecting a rise of 20.9%[49] - The gross profit margin decreased, with operating costs rising faster than revenue, leading to a net loss of CNY 3,447,195.48 for the quarter[49] - R&D expenses for Q1 2019 were CNY 7,080,808.41, down from CNY 8,814,088.97, a decrease of 19.6%[49] - The company incurred asset impairment losses of CNY 7,200,000.00, compared to a reversal of CNY 2,100,000.00 in the previous year[54] - Asset impairment losses increased by 8,527,700 yuan, an increase of 457.54%, mainly due to the increase in accounts receivable and the provision for bad debts[20] Other Financial Information - The company reported government subsidies recognized in the current period amounting to ¥7,844,253.16[8] - The company did not classify any non-recurring gains and losses as recurring during the reporting period[9] - Trading financial assets decreased by 810,400 yuan, a reduction of 100%, due to the implementation of new financial instrument accounting standards[16] - Prepaid accounts increased by 1,447,500 yuan, an increase of 32.44%, mainly due to the increase in prepaid material payments[16] - Other receivables increased by 9,594,900 yuan, an increase of 175.11%, primarily due to the increase in futures margin and bid margin[16] - Cash received from tax refunds increased by 885,200 yuan, an increase of 117.01%, mainly due to an increase in export tax rebates[25] - Cash paid for various taxes increased by 20,687,000 yuan, an increase of 55.66%, mainly due to increased VAT and consumption tax payments[25]

Financial Performance - The company's operating revenue for 2018 was ¥1,835,559,638.46, representing a 7.56% increase compared to ¥1,706,468,317.13 in 2017[16]. - The net profit attributable to shareholders decreased by 48.15% to ¥16,159,390.42 in 2018 from ¥31,168,251.38 in 2017[16]. - The net profit after deducting non-recurring gains and losses was ¥4,071,696.94, down 76.36% from ¥17,227,252.22 in the previous year[16]. - The net cash flow from operating activities was negative at -¥28,301,645.16, a decline of 223.30% compared to ¥22,953,258.17 in 2017[16]. - The total assets at the end of 2018 were ¥1,912,641,534.78, a decrease of 5.87% from ¥2,031,889,754.30 at the end of 2017[16]. - The company's net assets attributable to shareholders increased by 1.30% to ¥1,185,482,362.05 at the end of 2018 from ¥1,170,272,013.17 at the end of 2017[16]. - The company's total revenue for the industrial sector (including batteries) reached approximately ¥1.84 billion, with a year-on-year increase of 7.56%[39]. - The revenue from new energy and emergency storage batteries was approximately ¥927.40 million, reflecting a year-on-year growth of 7.40%[39]. - The backup battery segment saw a revenue decline of 15.51%, totaling ¥544,732,408.40, which accounted for 29.68% of total revenue[38]. - The power battery segment experienced significant growth of 100.93%, reaching ¥220,324,622.89, representing 12.00% of total revenue[38]. - Export revenue increased by 28.37% to ¥379,287,339.74, making up 20.66% of total revenue[38]. Business Operations - The company has expanded its business scope to include lithium battery recycling, energy management systems, and smart energy technology development[15]. - The company focuses on the new energy storage, backup power, and new energy power sectors, providing solutions and services in these areas[24]. - The company has established advanced research platforms, including an academician workstation and a national recognized enterprise technology center, to support its R&D efforts[26]. - The company has completed the construction of projects for electric vehicle power batteries and long-life energy storage batteries, utilizing advanced automation and intelligent manufacturing equipment[26]. - The company aims to enhance its brand influence and overseas market presence through localized sales and service networks[26]. - The company successfully expanded into overseas markets, participating in multiple storage demonstration projects along the "Belt and Road" initiative and in North America[34]. - The company is advancing its internationalization strategy by establishing a wholly-owned subsidiary in Hong Kong to enhance overseas operations[33]. - A strategic framework agreement was signed with Zhongmin New Energy to acquire 100% equity of Xinneng Tongxin, aiming to integrate storage and photovoltaic power generation businesses[34]. Shareholder and Stock Information - The company’s stock code is 002580, and it is listed on the Shenzhen Stock Exchange[12]. - The company’s major shareholders include Song Bin and several other individuals, with a significant change in control noted in December 2017[15]. - The company reported a plan not to distribute cash dividends or issue bonus shares for the year[5]. - The company did not distribute cash dividends in 2017 and 2018, maintaining a focus on sustainable development and reducing financing costs[89]. - The company’s total share capital changed to 354,057,227 shares after the repurchase and cancellation of 344,080 shares[144]. - The largest shareholder, Song Bin, holds 7.26% of shares, totaling 25,704,287, with a decrease of 8,221,100 shares during the reporting period[152]. - The second largest shareholder, Zhongmin New Energy Power Investment Co., Ltd., holds 5.01% of shares, totaling 17,755,800[153]. - The company has no actual controller, with Zhongmin New Energy Power Investment Co., Ltd. being the largest shareholder indirectly controlled by China Minmetals Corporation[156]. Risk Management - The company faces risks related to macroeconomic policy changes, raw material price fluctuations, and environmental regulations[4]. - The company has implemented hedging strategies for lead price fluctuations, including futures contracts and price linkage agreements with customers[76]. - The company operates in over 100 countries, with a significant portion of its exports settled in USD, exposing it to foreign exchange risks[77]. Environmental and Social Responsibility - The company has established a dedicated environmental protection department and is committed to enhancing energy conservation and environmental protection measures[78]. - The company emphasizes social responsibility, focusing on shareholder rights protection, employee welfare, and environmental protection initiatives[121][123]. - The company has established a specialized environmental safety management department responsible for environmental protection, ensuring efficient operation of pollution control facilities[125]. - The total discharge of COD is 680.4 kg, with a concentration of 18 mg/l, complying with the "Battery Industry Pollutant Discharge Standards" (GB30484-2013)[126]. - The company has a hazardous waste management system in place and has obtained a hazardous waste operation license[128]. Management and Governance - The company has a diverse management team with various educational backgrounds and professional qualifications[168]. - The total remuneration for directors, supervisors, and senior management amounted to 3.9425 million yuan[171]. - The company has established an incentive mechanism linking remuneration to company performance and individual performance[171]. - The company has not faced any significant discrepancies in governance compared to the regulatory standards set by the China Securities Regulatory Commission[183]. - The independent directors attended all board meetings and shareholder meetings, demonstrating their commitment to corporate governance[190]. Future Outlook and Strategy - The company aims to enhance its market presence in the communication and power sectors while expanding into new markets such as data centers and lithium-ion battery markets[70]. - The company plans to focus on technology innovation and product improvement, particularly in backup and energy storage lithium battery systems[71]. - The strategic direction includes "new energy, new technology, internationalization, and cross-border" to ensure sustainable development[69]. - The company anticipates that the energy storage industry will transition from demonstration applications to the early stages of commercialization in 2019[64].

Financial Performance - Operating revenue for the reporting period was ¥462,249,269.57, representing a decline of 4.68% year-on-year, while revenue for the year-to-date reached ¥1,306,799,866.61, an increase of 9.03%[8] - Net profit attributable to shareholders for the reporting period was ¥3,278,547.54, down 63.79% year-on-year, with year-to-date net profit at ¥14,149,769.09, a decrease of 44.93%[8] - Basic earnings per share for the reporting period were ¥0.01, a decrease of 50.00% compared to the same period last year[8] - Total profit fell by 43.46% to ¥16,179,200.01 mainly due to decreased operating profit[19] - Net profit decreased by 43.04% to ¥15,058,521.16 attributed to reduced operating profit[19] - The decline in profit is primarily attributed to intense market competition and fluctuations in lead prices, which are expected to impact the gross profit margin negatively[26] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥1,955,561,743.43, a decrease of 3.76% compared to the end of the previous year[8] - Cash and cash equivalents decreased by 58.43% to ¥148,836,522.05 due to reduced operating cash flow and loan repayments[17] - Prepayments increased by 127.33% to ¥16,344,803.03 primarily due to increased advance payments for raw materials[17] - Other receivables rose by 37.79% to ¥9,839,819.92 mainly from increased bid and futures margin deposits[17] - Asset impairment losses surged by 397.18% to ¥12,203,927.62 primarily from increased bad debt provisions for accounts receivable[19] Cash Flow - The net cash flow from operating activities was -¥30,928,634.12, an increase of 17.53% year-on-year[8] - Cash received from tax refunds increased by 1128.84% to ¥5,921,736.54 mainly due to higher export tax rebates[19] - Cash paid for fixed asset investments decreased by 85.20% to ¥8,944,669.68 due to reduced capital expenditures[19] Shareholder Information - The total number of shareholders at the end of the reporting period was 37,418[12] - The largest shareholder, Song Bin, held 7.26% of the shares, amounting to 25,704,287 shares[12] - The company did not engage in any repurchase transactions during the reporting period[13] Non-Recurring Items - The company reported non-recurring gains and losses totaling ¥8,737,702.95 for the year-to-date[9] - Financial expenses decreased by 103.47% to -¥422,004.44 due to increased exchange gains[19] Future Outlook - The company is actively pursuing a major asset restructuring to acquire 100% equity of Zhongmin New Energy Ningxia Tongxin Co., Ltd[24] - The net profit attributable to shareholders for 2018 is expected to range from 1,558.42 to 3,116.83 million CNY, reflecting a decrease of 0.00% to 50.00% compared to 3,116.83 million CNY in 2017[26]

Financial Performance - The company's operating revenue for the first half of 2018 was ¥844,550,597.04, representing an increase of 18.35% compared to ¥713,632,147.25 in the same period last year[17]. - The net profit attributable to shareholders decreased by 34.67% to ¥10,871,221.55 from ¥16,639,896.03 year-on-year[17]. - The net profit after deducting non-recurring gains and losses fell by 61.52% to ¥4,268,033.61 compared to ¥11,090,980.35 in the previous year[17]. - The basic earnings per share decreased by 40.00% to ¥0.03 from ¥0.05 in the same period last year[17]. - The company reported a net cash flow from operating activities of -¥105,015,316.04, slightly worse than -¥100,243,835.22 in the previous year, indicating a decline of 4.76%[17]. - The company achieved operating revenue of ¥844,550,597.04, representing a year-on-year increase of 18.35%[32]. - The net profit attributable to shareholders decreased by 34.67% to ¥10,871,221.55[32]. - Total revenue for the reporting period reached ¥844,550,597.04, representing an 18.35% increase compared to ¥713,632,147.25 in the same period last year[40]. - Revenue from new energy and emergency storage batteries was ¥335,427,977.94, accounting for 39.72% of total revenue, with a year-on-year growth of 20.80%[40]. - The company reported a 3.61% decline in the revenue from standby batteries, totaling ¥348,945,511.94[40]. - The company reported a total current liabilities of ¥524,880,056.83, down from ¥612,450,709.79, a decrease of approximately 14.3%[123]. - The company's total equity increased from ¥1,187,498,373.45 to ¥1,196,825,838.13, marking a growth of about 0.9%[124]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,963,058,422.80, a decrease of 3.39% from ¥2,031,889,754.30 at the end of the previous year[17]. - The company's inventory increased to ¥331,860,077.17, representing 16.91% of total assets, up from 14.29% year-on-year[44]. - Cash and cash equivalents decreased to ¥181,263,369.01, accounting for 9.23% of total assets, down from 9.93% in the previous year[44]. - The company's long-term borrowings decreased to ¥183,260,000.00, down from ¥205,680,000.00, reflecting a reduction of 1.35% in the debt ratio[44]. - Total liabilities decreased from ¥844,391,380.85 to ¥766,232,584.67, which is a decline of approximately 9.2%[123]. - The company's total assets decreased from ¥2,031,889,754.30 to ¥1,963,058,422.80, reflecting a reduction of about 3.4%[124]. Strategic Focus and Development - The company plans to focus on the new energy storage sector, backup power, and new energy power fields, providing solutions and services in these areas[25]. - The company has established various research platforms, including an academician workstation and a national recognized enterprise technology center, to enhance its core technology advantages[25]. - The company is focusing on international market expansion, particularly in emerging economies, to enhance its overseas sales[36]. - The company has identified the renewable energy sector as a key strategic direction for future development, leveraging its advantages in energy storage[59]. - The company is actively involved in the development of energy internet and smart energy technologies, positioning itself for future market opportunities[158]. Shareholder and Equity Information - The company did not distribute cash dividends or issue bonus shares for the half-year period[63]. - A total of 2,418,328 shares from the 2015 restricted stock incentive plan were unlocked and listed for trading on January 26, 2018, involving 304 incentive recipients[70]. - The company repurchased and canceled 344,080 shares of restricted stock from 11 incentive recipients who no longer met the conditions of the 2015 incentive plan[71]. - The total number of shares held by New Energy Power with voting rights is 75,536,179 shares, representing 21.31% of the total share capital[94]. - The company's total share capital after the repurchase and cancellation of 344,080 restricted shares is 354,057,227 shares[99]. - The total number of shares held by the top ten unrestricted shareholders amounts to 64,200,412 shares[113]. - The largest shareholder, Song Bin, holds 7.26% of shares, with a decrease of 8,221,100 shares during the reporting period[106]. Environmental and Compliance - The company has established an industrial wastewater treatment facility with a design capacity of 1,200 m³/d, ensuring that treated water is reused in production[87]. - The total discharge of COD was reported at 205.8 kg, with a concentration of 8 mg/l, which is compliant with the pollution discharge standards[86]. - The company has implemented a three-stage treatment process for exhaust gases, achieving stable and compliant emissions[87]. - The company has a hazardous waste management system in place and has obtained a hazardous waste operating license[88]. - Noise monitoring results during the reporting period were all compliant, with measures taken to reduce noise pollution[88]. - The company has established a comprehensive environmental management system and conducts daily monitoring of key environmental factors[89]. Risks and Challenges - The company faces risks from fluctuating lead prices, which significantly impact production costs, and has established a pricing mechanism linked to lead prices with major customers[59]. - The company is exploring lead futures hedging to mitigate operational risks associated with lead price volatility[59]. - The company is implementing strategies to reduce foreign exchange risks due to increased export activities, primarily settled in USD[60]. Financial Reporting and Governance - The half-year financial report was not audited[65]. - The company's financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, reflecting its financial position, operating results, and cash flows accurately[170]. - The company has a consolidated financial statement scope that includes several wholly-owned and controlled subsidiaries, with no changes compared to the previous year[167]. - The company’s accounting policies and estimates are consistent with the previous year, ensuring the reliability of financial reporting[170].

山东圣阳电源股份有限公司 2018 年第一季度报告正文 1 山东圣阳电源股份有限公司 2018 年第一季度报告正文 第一节 重要提示 山东圣阳电源股份有限公司 2018 年第一季度报告正文 证券代码：002580 证券简称：圣阳股份 公告编号：2018-045 公司是否需追溯调整或重述以前年度会计数据 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。 公司负责人宋斌、主管会计工作负责人宫国伟及会计机构负责人(会计主管 人员)宫国伟声明：保证季度报告中财务报表的真实、准确、完整。 2 山东圣阳电源股份有限公司 2018 年第一季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 365,945,415.87 | 322,769,041.23 | 13.38% | | 归属于上市公司股东的净利润（元） ...

Financial Performance - The company's operating revenue for 2017 was ¥1,706,468,317.13, an increase of 9.98% compared to ¥1,551,654,658.12 in 2016[17]. - The net profit attributable to shareholders decreased by 42.13% to ¥31,168,251.38 from ¥53,862,983.12 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was ¥17,227,252.22, down 57.39% from ¥40,432,596.67 in 2016[17]. - The net cash flow from operating activities increased by 32.69% to ¥22,953,258.17 compared to ¥17,299,003.94 in 2016[17]. - The total assets at the end of 2017 were ¥2,031,889,754.30, a decrease of 0.69% from ¥2,045,961,409.17 at the end of 2016[17]. - The basic earnings per share for 2017 were ¥0.09, a decrease of 40.00% from ¥0.15 in 2016[17]. - The company achieved operating revenue of ¥1,706,468,317.13, a year-on-year increase of 9.98%, while net profit attributable to shareholders decreased by 42.13% to ¥31,168,251.38 due to fluctuations in lead prices and exchange rates[31]. Business Operations - The company has expanded its business scope to include energy-saving product development and consulting services since 2011[15]. - The company aims to provide integrated solutions in the energy storage field, with significant breakthroughs in energy management software technology and cloud platform systems[27]. - The company successfully entered the supply list of a European multinational operator, enhancing its brand influence and competitive capability[28]. - In the new energy storage sector, the company developed a smart energy control platform and successfully implemented multiple "storage+" projects, including a 500kW microgrid storage project in Hebei and a 3.5MW rooftop distributed photovoltaic project[32]. - The company maintained a leading position in the power grid market, winning multiple bids for projects in Beijing, Shandong, and other regions, solidifying its status as a direct supplier to several provincial power grids[33]. - The company reported a significant increase in revenue from new energy and emergency storage batteries, which accounted for 50.60% of total revenue, growing by 18.23% year-on-year to ¥863,465,198.80[39]. Research and Development - The company has established a comprehensive R&D system and a professional team, focusing on continuous technological innovation in the energy storage sector[26]. - The company introduced a product lifecycle management system to enhance its R&D capabilities, which contributed to its recognition as a "Top 100 Innovative Enterprises in Shandong Province" in 2017[34]. - Research and development expenses totaled CNY 55,691,666.56, accounting for 3.26% of operating revenue, down from 3.80% in the previous year[53]. Financial Management - The company has appointed Xinyong Zhonghe Accounting Firm for auditing services during the reporting period[16]. - The company emphasizes the importance of accurate and complete financial reporting, as stated by its management[3]. - The company reported a total of ¥13,940,999.16 in non-recurring gains for 2017, compared to ¥13,430,386.45 in 2016[23]. - The company has committed to using CNY 4,000 million of raised funds to repay bank loans, which has been fully utilized[64]. - The company has no outstanding publicly issued bonds that are due or have not been fully paid as of the annual report approval date[191]. Shareholder Information - The company’s stock code is 002580, and it is listed on the Shenzhen Stock Exchange[12]. - The company has a total of 36,061 common stock shareholders as of the end of the reporting period[137]. - The largest shareholder, Song Bin, holds 9.57% of the shares, totaling 33,925,387 shares, with 12,722,020 shares under lock-up[137]. - The company’s controlling shareholder changed to Zhongmin New Energy Power Investment Co., Ltd. on December 18, 2017[139]. - The company has no actual controller, with the largest shareholder being Zhongmin New Energy Power Investment Co., Ltd., which is indirectly controlled by China Minsheng Investment Co., Ltd.[141]. Corporate Governance - The company has established a complete and independent corporate governance structure, ensuring the independent operation of its board, supervisory board, and management[175]. - The board of directors consists of 9 members, including 3 independent directors, complying with relevant laws and regulations[169]. - The company has a structured approach to appointing and compensating its management, with clear procedures in place[156]. - The independent directors attended all board meetings and did not raise any objections to company matters during the reporting period[179]. - The company has established a performance-based incentive mechanism linking remuneration to company performance and individual achievements[156]. Social Responsibility and Environmental Compliance - The company emphasizes a commitment to social responsibility, focusing on maximizing value for shareholders while ensuring returns for employees and other stakeholders[112]. - The company has actively participated in social responsibility initiatives, including support for left-behind children and various charitable activities[116]. - The company has a wastewater treatment facility with a design capacity of 1,200 m³/d, ensuring compliance with local environmental standards[120]. - The company has implemented a three-stage air pollution treatment process, achieving stable and compliant emissions during the reporting period[121]. - The company has established a dedicated environmental safety department to oversee environmental protection efforts and ensure compliance with regulations[120]. Risks and Challenges - The company has faced risks related to macroeconomic cycles, policy changes, raw material price fluctuations, and industry consolidation[4]. - The company is pursuing international expansion and has increased its export scale, primarily settling in USD, which exposes it to foreign exchange risks[77]. - The company has established a price linkage mechanism with most customers to mitigate the impact of lead price fluctuations on production costs[77]. Future Strategies - The future development strategy emphasizes "new energy, new technology, internationalization, and cross-border" as key directions for survival and growth[73]. - The company plans to enhance its emerging business efforts, focusing on high-end markets, brands, and quality products, particularly in traction battery business[76]. - The company aims to deepen its existing markets while breaking into new segments, focusing on telecommunications, power, data centers, and rail transportation sectors domestically, and expanding overseas through localized marketing strategies[75].

Financial Performance - Operating revenue for the reporting period was CNY 484,969,149.06, an increase of 10.56% year-on-year[8]. - Net profit attributable to shareholders was CNY 9,055,078.88, a decrease of 25.66% compared to the same period last year[8]. - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 7,623,485.86, down 29.95% year-on-year[8]. - Basic earnings per share were CNY 0.02, a decrease of 33.33% year-on-year[8]. - Operating profit fell by 33.88% to ¥2,192.63 million, primarily due to rising raw material costs impacting gross margin[21]. - Net profit decreased by 32.62% to ¥2,643.57 million, driven by a decline in total profit[22]. - The estimated net profit attributable to shareholders for 2017 is projected to range from ¥26.93 million to ¥53.86 million, reflecting a decrease of 0% to 50% compared to 2016's net profit of ¥53.86 million[28]. - The decline in profit is attributed to a decrease in gross margin due to rising raw material lead prices and increased exchange losses from currency fluctuations[28]. Cash Flow and Assets - The net cash flow from operating activities was -CNY 37,504,487.37, a decrease of 239.54% compared to the same period last year[8]. - The company's cash and cash equivalents decreased by 58.94% to ¥17,385.83 million compared to the beginning of the year, primarily due to a reduction in operating cash flow[16]. - Cash received from tax refunds increased by 684.85% to ¥48.19 million, mainly due to export tax rebates[23]. - Cash paid for the acquisition of fixed assets and other long-term assets rose by 87.40% to ¥6,045.67 million, reflecting increased equipment and project payments[23]. Shareholder Information - The total number of shareholders at the end of the reporting period was 40,113[12]. - The largest shareholder, Song Bin, holds 9.57% of the shares, with 25,444,040 shares pledged[12]. Liabilities and Capital - The company's total liabilities decreased by 49.47% in accounts payable to ¥4,886.63 million, due to reduced payment obligations[19]. - The company's capital stock increased by 59.94% to ¥35,440.13 million, primarily due to the conversion of capital reserves into share capital[19]. - Short-term borrowings decreased by 53.85% to ¥6,000.00 million, reflecting a reduction in working capital loans[19]. Commitments and Compliance - The company has committed to compensating for any economic losses incurred by shareholders due to historical equity disputes, ensuring compliance with past commitments[26]. - There are no reported violations regarding external guarantees during the reporting period[29]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[30]. - The company has established social security and provident fund accounts, with no penalties from social security departments reported[27]. - The company has made commitments regarding employee social insurance and housing fund contributions, ensuring full coverage of any penalties or losses incurred[27]. - The company has not reported any overdue commitments during the reporting period[26]. - The company continues to fulfill its commitments made during the IPO and refinancing processes[26]. Inventory and Prepayments - Prepayments increased by 188.12% to ¥5,548.61 million, mainly due to higher prepayments for materials and project costs[17]. - Inventory rose by 35.94% to ¥28,722.58 million, attributed to stockpiling for the National Day holiday[18]. Return on Investment - The weighted average return on net assets was 0.75%, down 0.30% from the previous year[8].

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 713,632,147.25, representing a 2.32% increase compared to CNY 697,467,191.90 in the same period last year[17]. - The net profit attributable to shareholders decreased by 38.49% to CNY 16,639,896.03 from CNY 27,052,035.27 year-on-year[17]. - The net profit after deducting non-recurring gains and losses fell by 46.55% to CNY 11,090,980.35 compared to CNY 20,750,273.43 in the previous year[17]. - The weighted average return on net assets decreased to 1.39% from 2.35% in the previous year[17]. - The company reported a decrease in gross margin due to rising lead prices and increased foreign exchange losses impacting financial performance[60]. - The net profit for the first half of 2017 was CNY 17,432,757.30, down from CNY 27,052,035.27 in the previous year, indicating a decline of approximately 35%[136]. - The total profit for the first half of 2017 was CNY 17,204,857.01, compared to CNY 27,979,720.08 in the same period of 2016, reflecting a decrease of approximately 38%[140]. Cash Flow and Liquidity - The net cash flow from operating activities improved by 41.11%, reaching CNY -100,243,835.22, compared to CNY -170,230,239.87 in the same period last year[17]. - The company's cash and cash equivalents at the end of the reporting period amounted to ¥190.94 million, representing 9.93% of total assets[44]. - The company's cash and cash equivalents decreased from CNY 423.42 million at the beginning of the period to CNY 190.94 million at the end, a decline of approximately 55.1%[126]. - The cash flow from operating activities showed a net outflow of CNY 100,243,835.22, an improvement from a net outflow of CNY 170,230,239.87 in the previous year[144]. - The total cash inflow from financing activities was ¥90,000,000, down from ¥190,000,000 in the previous period, reflecting reduced borrowing[148]. - The total cash and cash equivalents at the end of the period were ¥139,527,894.25, down from ¥153,244,619.26 at the end of the previous period[148]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,923,575,129.97, a decrease of 5.98% from CNY 2,045,961,409.17 at the end of the previous year[17]. - Total liabilities decreased from CNY 851.05 million to CNY 721.16 million, a decline of approximately 15.3%[129]. - The company's equity attributable to shareholders increased slightly from CNY 1.18 billion to CNY 1.19 billion, an increase of about 0.6%[129]. - Short-term loans decreased from ¥100 million to ¥60 million, reflecting a reduction of 2.01% in total liabilities[44]. - Accounts receivable decreased by 5.32% year-on-year, now accounting for 37.58% of total assets[44]. Research and Development - The company has established a comprehensive R&D system and has made significant advancements in core technologies such as lead-carbon batteries and lithium-ion batteries[24]. - The company’s R&D investment increased by 16.41% to ¥17,746,753.77, reflecting a commitment to innovation and technology development[39]. - The company plans to enhance its R&D capabilities and create differentiated competitive advantages to mitigate risks associated with macroeconomic policies and raw material price fluctuations[61][64]. Market and Business Strategy - The company plans to focus on innovation and market expansion in the fields of renewable energy, communication, and power systems, providing energy storage and backup power solutions[24]. - The company maintained a stable development in the backup power sector, successfully winning multiple bids in the traditional power market, enhancing its market share[33]. - The company successfully entered the supply list of a well-known global operator in Europe, laying a solid foundation for expanding overseas markets[37]. - The revenue from power batteries grew significantly by 55.16% year-on-year, driven by expansion into low-speed electric vehicles and electric forklifts[42]. Environmental and Social Responsibility - The company has committed to environmental protection and health management, ensuring compliance with national standards for waste management[63]. - The company is classified as a key pollutant discharge unit by environmental protection authorities, with total COD emissions of 410.55 kg and total lead emissions of 0.587 kg during the reporting period[92]. - The company has established a comprehensive environmental management system and emergency response plans, with all monitoring results for wastewater and waste gas emissions meeting regulatory standards[94][95]. Shareholder and Equity Information - The company’s total share capital increased to 354,401,307 shares after a capital reserve conversion of 132,900,490 shares, representing a 60% increase in shares distributed to shareholders[102]. - The company’s management has released a total of 8,358,604 shares from lock-up restrictions, transitioning them to unrestricted shares[101]. - The company reported a significant increase in shareholder equity, with the top 10 unrestricted ordinary shareholders holding a total of 14,534,613 shares[110]. - The largest shareholder, Song Bin, held 9.57% of shares, totaling 33,925,387 shares, with 12,722,020 shares under lock-up[109]. Compliance and Governance - The company has no significant litigation or arbitration matters during the reporting period[74]. - The company has no penalties or rectification situations during the reporting period[75]. - The company has not engaged in any major asset or equity sales during the reporting period[58][59].

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 713,632,147.25, representing a 2.32% increase compared to CNY 697,467,191.90 in the same period last year[17]. - The net profit attributable to shareholders decreased by 38.49% to CNY 16,639,896.03 from CNY 27,052,035.27 year-on-year[17]. - The net profit after deducting non-recurring gains and losses fell by 46.55% to CNY 11,090,980.35 compared to CNY 20,750,273.43 in the previous year[17]. - The weighted average return on net assets decreased to 1.39% from 2.35% in the previous year[17]. - The company reported a total profit of CNY 17,204,857.01, down from CNY 27,979,720.08, indicating a decrease of approximately 38.5%[136]. - The total comprehensive income attributable to the parent company was CNY 16,633,409.59, down from CNY 27,053,807.32, indicating a decrease of approximately 38.5%[136]. - The net profit for the first half of 2017 was CNY 17,087,693.45, a decrease from CNY 27,209,117.88 in the same period of the previous year, representing a decline of approximately 37.5%[136]. - Basic and diluted earnings per share were both CNY 0.05, down from CNY 0.08 in the previous year, marking a decline of 37.5%[136]. Cash Flow and Assets - The net cash flow from operating activities improved by 41.11%, reaching CNY -100,243,835.22, compared to CNY -170,230,239.87 in the same period last year[17]. - The company's cash and cash equivalents amounted to ¥190.94 million, representing 9.93% of total assets, an increase from 9.46% in the previous year[44]. - Cash and cash equivalents decreased significantly from CNY 423,421,955.11 to CNY 190,937,588.67, representing a decline of approximately 55.1%[122]. - The ending balance of cash and cash equivalents was ¥139,527,894.25, down from ¥153,244,619.26 in the previous period[144]. - The company reported a total of 69,576,161 shares under various stock incentive plans, with 51,732,626 shares being restricted[106]. Revenue Segments - The new energy storage segment generated ¥277,664,562.37, accounting for 38.91% of total revenue, with a growth of 9.86% year-on-year[40]. - The backup battery segment saw a decline of 11.23%, contributing ¥362,023,573.65, which represented 50.73% of total revenue[40]. - The revenue from power batteries grew significantly by 55.16% year-over-year, driven by expansion into low-speed electric vehicles and electric forklifts[42]. - The revenue from other business segments surged by 183.56% year-over-year, primarily due to new system integration projects[42]. Investments and R&D - The company increased its R&D investment by 16.41% to ¥17,746,753.77, emphasizing its commitment to innovation and technology development[39]. - The company has established a comprehensive R&D system and has made significant advancements in core technologies such as lead-carbon batteries and lithium-ion batteries[25]. - The company plans to focus on innovation and market expansion in the fields of renewable energy, communication, and power solutions[25]. Market Expansion and Projects - The company is actively expanding its overseas market presence, successfully entering the supply list of a well-known global operator in Europe[37]. - The company plans to complete the construction of a new battery production project by the end of 2017, which will increase annual production capacity to 600 million KVAh[37]. - The company successfully implemented multiple projects in the energy storage field, including the successful bid for the multi-energy complementary demonstration project in Langfang Industrial Park[32]. Shareholder and Equity Information - The total number of ordinary shareholders at the end of the reporting period was 33,925,387, representing a 9.57% ownership stake by the largest shareholder, Song Bin[105]. - The company completed the first batch of restricted stock incentives under the 2015 plan, totaling 1,408,375 shares, which were unlocked and listed for trading on January 9, 2017, involving 246 incentive recipients[76]. - The company granted 580,900 shares of reserved restricted stock under the 2015 incentive plan, involving 69 recipients during the reporting period[76]. - The company repurchased and canceled a total of 90,000 shares of restricted stock from 7 incentive recipients who no longer met the incentive conditions due to resignation or retirement[77]. Financial Liabilities and Risks - The company's total liabilities decreased to CNY 721,157,800.86 from CNY 851,051,110.07, representing a reduction of approximately 15.3%[125]. - Short-term borrowings decreased from ¥100 million to ¥60 million, reflecting a reduction of 2.01% in total liabilities[44]. - The company faces risks from rising lead prices, which have impacted gross margins, and has implemented a pricing mechanism linked to lead prices to mitigate this risk[64]. Compliance and Governance - The company has no significant litigation or arbitration matters during the reporting period[74]. - The company has not experienced any penalties or rectification situations during the reporting period[75]. - The company has no major related party transactions during the reporting period[78]. - The company has established social security and provident fund accounts, with no penalties from social security departments[71]. Accounting and Financial Reporting - The financial statements are prepared in accordance with the accounting standards set by the Ministry of Finance, reflecting the company's financial status, operational results, and cash flows accurately[170]. - The company adopts the book value measurement method for assets and liabilities acquired in business combinations under common control, adjusting the capital reserve for any difference between the net asset book value and the payment for the merger[173]. - The company recognizes investment income for the difference between the fair value and book value of equity interests held prior to the acquisition date in non-common control business combinations[177].

Financial Performance - The company's operating revenue for Q1 2017 was ¥322,769,041.23, a decrease of 6.25% compared to ¥344,299,040.01 in the same period last year[8]. - Net profit attributable to shareholders was ¥6,408,445.71, down 38.10% from ¥10,352,084.09 year-on-year[8]. - The net profit after deducting non-recurring gains and losses was ¥4,576,592.26, a decrease of 12.54% compared to ¥5,233,012.16 in the previous year[8]. - Net profit for the period decreased by 33.92% to ¥68.41 million, primarily due to a reduction in government subsidies[22]. - The net profit attributable to shareholders for the first half of 2017 is expected to range from 1,623.12 million to 2,975.72 million, reflecting a decrease of 40.00% to an increase of 10.00% compared to the same period in 2016[29]. - The net profit for the first half of 2016 was 2,705.2 million, indicating a significant impact from rising lead prices and intense industry competition, which is expected to lead to a decline in gross margin[30]. Cash Flow and Assets - The net cash flow from operating activities improved to -¥77,670,678.73, a 37.95% increase from -¥125,165,922.49 in the same period last year[8]. - The company's cash and cash equivalents decreased by 33.93% from the beginning of the year, amounting to ¥279.75 million, primarily due to a reduction in net operating cash flow[15]. - Prepaid accounts increased by 51.05% to ¥29.09 million, mainly due to an increase in advance payments for materials and engineering[16]. - Other non-current assets rose by 55.77% to ¥34.27 million, attributed to an increase in advance payments for equipment[16]. - Cash received from sales of goods and services increased by 74.72% to ¥375.04 million, mainly due to an increase in cash collections from receivables[24]. - Cash paid for purchasing goods and services rose by 32.93% to ¥380.70 million, primarily due to the maturity of accounts payable[25]. - Cash paid for other operating activities increased by 189.28% to ¥17.80 million, mainly due to higher operating expenses[25]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 24,402[11]. - The largest shareholder, Song Bin, holds 9.57% of the shares, amounting to 21,203,367 shares, with 15,902,525 shares pledged[11]. Liabilities and Borrowings - Short-term borrowings decreased by 38.46% to ¥80 million, mainly due to a reduction in working capital loans[16]. - Long-term borrowings increased by 44.29% to ¥286.24 million, primarily due to an increase in medium to long-term loans[18]. - The company reported a significant decrease in tax payable by 64.32% to ¥10.29 million, mainly due to a reduction in value-added tax[17]. Non-Recurring Items and Compliance - The company reported a total of ¥1,831,853.45 in non-recurring gains and losses for the period[9]. - The company reported no violations regarding external guarantees during the reporting period[31]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[32]. - The company did not engage in any research, communication, or interview activities during the reporting period[33]. - The company did not engage in any repurchase transactions during the reporting period[12]. Return on Equity - The weighted average return on equity was 0.57%, a decrease of 0.34% from 0.91% in the previous year[8]. Total Assets - Total assets at the end of the reporting period were ¥1,935,445,946.48, down 5.40% from ¥2,045,961,409.17 at the end of the previous year[8].