Financial Performance - The company's operating revenue for Q1 2022 was ¥55,849,738.92, representing a 40.78% increase compared to ¥39,671,114.04 in the same period last year[3] - The net profit attributable to shareholders decreased by 1.73% to ¥1,083,781.62 from ¥1,102,865.66 year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥217,025.40, a significant turnaround from a loss of ¥3,737,303.53 in the previous year, marking a 105.81% improvement[3] - The net cash flow from operating activities improved by 107.73%, reaching ¥590,765.61 compared to a negative cash flow of ¥7,646,833.75 in the same period last year[3] - Operating profit for Q1 2022 was CNY 973,175.76, down from CNY 1,145,404.61 in the same period last year, reflecting a decline of approximately 15%[18] - The net profit for Q1 2022 was CNY 1,083,781.62, a decrease of 1.1% compared to CNY 1,102,865.66 in Q1 2021[18] - The total comprehensive income for Q1 2022 was CNY 1,083,781.62, compared to CNY 1,102,865.66 in the same period last year[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥652,019,901.34, a decrease of 1.07% from ¥659,076,299.29 at the end of the previous year[3] - Total liabilities decreased to ¥180,767,993.99 from ¥188,908,173.56, a reduction of 4.3%[15] - The company's equity attributable to shareholders increased slightly by 0.23% to ¥471,251,907.35 from ¥470,168,125.73 at the end of the previous year[3] - The company's equity attributable to shareholders increased to ¥471,251,907.35 from ¥470,168,125.73, a slight increase of 0.23%[15] Cash Flow - The net cash flow from financing activities increased significantly by 1458.61% to ¥465.46 million, driven by an increase in loans during the period[8] - Cash flow from operating activities generated a net inflow of CNY 590,765.61, compared to a net outflow of CNY 7,646,833.75 in Q1 2021[22] - The company raised CNY 60,500,000.00 through financing activities in Q1 2022, with a net cash inflow of CNY 4,654,573.65[23] Expenses - The company's research and development expenses decreased by 51.21% to ¥217.56 million, primarily due to the completion of most R&D projects during the period[8] - Financial expenses surged by 330.81% to ¥143.03 million, attributed to increased bank loan interest[8] - The company incurred financial expenses of CNY 1,430,326.05, which is a significant increase from CNY 331,979.28 in Q1 2021[18] Revenue and Sales - The company reported sales revenue from goods and services of CNY 49,549,807.42, an increase of 20% compared to CNY 41,350,540.55 in the previous year[21] - Total operating costs amounted to ¥54,568,772.86, up from ¥43,699,751.83, reflecting a rise of 25%[17] - Total operating revenue for the current period reached ¥55,849,738.92, an increase of 40.8% compared to ¥39,671,114.04 in the previous period[17] Shareholder Information - The number of common shareholders at the end of the reporting period was 9,798[10] - The top 10 shareholders hold a combined 78.68% of the shares, with the largest shareholder holding 28.12%[10] Inventory and Receivables - Accounts receivable increased to ¥131,027,834.42 from ¥119,511,079.04, representing a growth of 9.4%[13] - Inventory decreased slightly to ¥151,728,198.25 from ¥153,504,201.97, a decline of 1.2%[13] - The company's cash and cash equivalents at the end of the period were ¥33,900,636.61, compared to ¥30,770,187.34 at the beginning of the year, indicating a growth of 6.9%[13]

Financial Performance - The company's operating revenue for 2021 was ¥212,172,364.80, representing a 24.93% increase compared to ¥169,833,443.61 in 2020[22]. - The net profit attributable to shareholders was -¥11,615,358.24, an improvement of 64.45% from -¥32,675,224.04 in the previous year[22]. - The basic earnings per share were -¥0.0774, showing a 64.46% improvement from -¥0.2178 in 2020[22]. - The total operating revenue for the year 2021 was CNY 212,172,364.80, representing a 24.93% increase from CNY 169,833,443.61 in 2020[44]. - The company reported a significant increase in revenue after deducting sales of external materials and waste, with a net revenue of ¥201,708,611.32 in 2021[22]. - The company reported a total revenue of 250 million for the year 2021, maintaining the same level as the previous year[91]. - The company reported a total revenue of 1.5 billion RMB for the fiscal year 2021, representing a year-over-year increase of 12%[102]. - The company reported a total revenue of 2,111.2 million RMB, representing a growth of 1.41% compared to the previous year[168]. Cash Flow and Investments - The net cash flow from operating activities was -¥47,631,850.69, a significant decline of 619.85% compared to ¥9,162,599.90 in 2020[22]. - The net cash flow from investment activities improved to ¥6.22 million in 2021, compared to -¥49.03 million in 2020, marking a 112.68% increase[43]. - Financing activities generated a net cash flow of ¥42.86 million, up 54.10% from ¥27.81 million in 2020[43]. - The total cash inflow from operating activities was 179,600,480.07 CNY in 2021, a slight increase of 2.18% from 175,767,089.34 CNY in 2020[62]. - The total cash outflow from operating activities rose by 36.39% to 227,232,330.76 CNY in 2021, compared to 166,604,489.44 CNY in 2020[62]. Assets and Liabilities - Total assets at the end of 2021 amounted to ¥659,076,299.29, a 5.07% increase from ¥627,294,102.26 at the end of 2020[22]. - The company's equity attributable to shareholders increased to CNY 470,168,125.73 in 2021 from CNY 463,283,483.97 in 2020, showing a growth of about 1.9%[198]. - Accounts receivable rose to CNY 119,511,079.04 in 2021, compared to CNY 84,677,541.14 in 2020, representing an increase of approximately 41%[197]. - Short-term borrowings increased to ¥75,100,180.21, making up 11.39% of total assets, a rise of 6.60% due to funding shortages from expanded production capacity[65]. - Total liabilities reached CNY 188,908,173.56 in 2021, up from CNY 164,010,618.29 in 2020, which is an increase of approximately 15.2%[198]. Research and Development - Research and development expenses decreased by 15.85% to ¥10.17 million in 2021, down from ¥12.09 million in 2020[40]. - The number of R&D personnel increased by 16.28% to 50 in 2021, representing 10.18% of the total workforce, up from 8.45% in 2020[60]. - Research and development (R&D) investment decreased by 15.85% to 10,172,119.34 CNY in 2021, accounting for 4.79% of operating revenue, down from 7.12% in 2020[60]. - The company emphasizes technological innovation and has established collaborations with key universities for research and development in sliding bearings[37]. Market Position and Strategy - The company is positioned in a competitive industry dominated by eight major global players, which hold over 70% of the market share[31]. - The company aims to enhance its product quality and brand recognition to increase its market share and achieve import substitution[32]. - The company has established long-term partnerships with major clients, including Harbin Electric Group and Siemens, enhancing its customer resource quality[39]. - The company has expanded its product offerings into new markets, including marine and wind power applications, increasing its industry influence[59]. - The company plans to continue its market expansion efforts and invest in new product development to enhance competitiveness[92]. Governance and Compliance - The company has established a governance structure that includes a board of directors and supervisory board, ensuring compliance with relevant laws and regulations[83]. - The company prioritizes transparent information disclosure and investor relations management, utilizing multiple channels for communication with investors[84]. - The company emphasizes compliance with regulations and maintaining the interests of public investors[111]. - The company has a fully independent financial accounting department, with dedicated financial personnel and a strict financial management system in place[86]. Risks and Challenges - The company highlighted potential risks in its future business outlook, which investors should be aware of[6]. - Market competition risk is a concern, with increased investments from domestic competitors in advanced production technologies[78]. - The company faces risks from customer concentration, as its sales are dependent on a limited number of major clients in the electric motor and power generation sectors[78]. - The company emphasizes the importance of timely research and development of new technologies and products to meet increasing quality demands from customers, highlighting a risk of obsolescence if market trends are not accurately predicted[79]. Employee and Management Structure - The total number of employees at the end of the reporting period was 491, with 360 from the parent company and 131 from major subsidiaries[115]. - The professional composition includes 294 production personnel, 14 sales personnel, 38 technical personnel, 8 financial personnel, and 137 administrative personnel[116]. - The company has maintained a stable management structure with experienced professionals in key positions[94]. - The company experienced a change in management with the resignation of two vice presidents and one director in March and April 2021 due to personal reasons and term completion[93].

Financial Performance - The company's operating revenue for Q3 2021 was ¥53,996,876.68, representing a 14.00% increase year-over-year[3]. - Net profit attributable to shareholders for Q3 2021 was ¥294,658.66, a significant increase of 106.83% compared to the same period last year[3]. - The basic earnings per share for Q3 2021 was ¥0.0020, reflecting a 106.97% increase year-over-year[3]. - The company reported a net profit of ¥2,828,360.55, a significant recovery from a net loss of ¥7,115,710.38 in the previous period[18]. - Basic and diluted earnings per share improved to ¥0.0189, compared to a loss of ¥0.0474 per share in the previous period[19]. Assets and Liabilities - Total assets at the end of Q3 2021 amounted to ¥652,333,546.31, which is a 3.99% increase from the end of the previous year[3]. - Total current assets as of September 30, 2021, amount to ¥377,700,887.70, an increase from ¥332,394,996.85 at the end of 2020[14]. - Total liabilities as of September 30, 2021, are ¥167,721,701.79, compared to ¥164,010,618.29 at the end of 2020[15]. - The company's total assets amount to ¥652,333,546.31, up from ¥627,294,102.26 at the end of 2020[15]. Cash Flow - The net cash flow from operating activities for the first nine months of 2021 was -¥45,109,299.40, a decrease of 457.49% compared to the same period last year[8]. - Cash flow from operating activities showed a net outflow of ¥45,109,299.40, worsening from a net outflow of ¥8,091,519.63 in the previous period[21]. - Cash flow from investing activities generated a net inflow of ¥10,323,605.08, a recovery from a net outflow of ¥56,602,675.90 in the previous period[22]. - Cash flow from financing activities resulted in a net inflow of ¥23,623,913.98, down from ¥60,746,270.29 in the previous period[22]. - The ending cash and cash equivalents balance decreased to ¥8,636,068.85 from ¥50,800,994.32 in the previous period[22]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 7,789[10]. - The largest shareholder, He Quanbo, holds 28.12% of shares, totaling 42,187,466 shares[10]. Non-Recurring Gains and Expenses - The company reported a total of ¥1,064,919.29 in non-recurring gains for Q3 2021, with government subsidies contributing significantly[5]. - Research and development expenses surged to ¥14,464,059.65, more than doubling from ¥7,226,794.42 in the previous period, indicating a focus on innovation[17]. Inventory and Receivables - Accounts receivable increased by 39.21% to ¥11,787.91 million due to higher sales in the current period[7]. - Accounts receivable increased to ¥117,879,068.30 from ¥84,677,541.14 year-over-year, indicating a growth of approximately 39.2%[13]. - Inventory increased to ¥139,371,336.52 from ¥108,267,056.56 year-over-year, reflecting a growth of approximately 28.8%[13]. Other Financial Metrics - The company's investment income for the first nine months of 2021 was ¥19.76 million, a substantial increase of 246.67% year-over-year[7]. - The net cash flow from investing activities for the first nine months of 2021 was ¥1,032.36 million, a significant recovery from -¥5,660.27 million in the previous year[8]. - The company's total equity attributable to shareholders increased by 4.60% to ¥484,611,844.52 at the end of Q3 2021[3]. - The capital reserve increased to ¥323,222,314.24 from ¥304,722,314.24 year-over-year[15]. Audit Information - The company did not undergo an audit for the third quarter report[23].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥93,307,848.01, representing a 10.84% increase compared to ¥84,186,093.85 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was ¥2,533,701.89, a significant turnaround from a loss of ¥2,803,229.92, marking a 190.39% improvement[21]. - Basic and diluted earnings per share both improved to ¥0.0169 from a loss of ¥0.0187, reflecting a 190.37% increase[21]. - The company's revenue for the current period reached ¥93,307,848.01, representing a year-over-year increase of 10.84% compared to ¥84,186,093.85 in the same period last year[38]. - The total profit for the first half of 2021 was CNY 2,533,701.89, a turnaround from a total loss of CNY 2,803,229.92 in the first half of 2020[126]. - The company's net loss for the first half of 2021 was CNY 4,248,419.66, compared to a net loss of CNY 3,509,434.72 in the same period of 2020[124]. Cash Flow and Financial Position - The net cash flow from operating activities was negative at ¥28,485,455.34, a decline of 307.72% compared to a positive cash flow of ¥13,713,555.30 in the previous year[21]. - The cash flow from operating activities showed a net outflow of CNY 28,485,455.34, compared to a net inflow of CNY 13,713,555.30 in the same period last year[133]. - The company's net cash and cash equivalents decreased by 131.26% to -¥14,937,106.78, primarily due to a reduction in cash received from sales[38]. - Cash and cash equivalents decreased significantly from CNY 31,210,953.39 at the end of 2020 to CNY 13,731,852.83, a decline of about 56.0%[115]. - The ending balance of cash and cash equivalents was CNY 1,664,826.68, significantly lower than CNY 73,184,534.26 at the end of the first half of 2020[138]. - The net cash flow from financing activities dropped by 82.40% year-on-year, amounting to 11.73 million yuan, primarily due to decreased borrowings[36]. Assets and Liabilities - Total assets at the end of the reporting period were ¥634,108,402.92, up 1.09% from ¥627,294,102.26 at the end of the previous year[21]. - Total liabilities decreased slightly to CNY 156,660,867.90 from CNY 156,925,212.40 at the end of 2020[122]. - Accounts receivable increased to CNY 104,523,917.05, which is 16.48% of total assets, reflecting a rise in sales but a decline in cash collection[49]. - Inventory rose to CNY 125,532,780.38, accounting for 19.80% of total assets, primarily due to capacity expansion and rising raw material prices[49]. - Short-term borrowings increased to CNY 42,559,890.24, representing 6.71% of total assets, driven by funding needs for capacity expansion[49]. Research and Development - Research and development expenses surged by 107.98% year-on-year, reaching 9.37 million yuan, attributed to increased investment in new R&D projects[36]. - The company emphasizes technological innovation and has established stable partnerships with key universities for collaborative R&D in the sliding bearing field[34]. - The company is focused on market-oriented research and development of new technologies, products, and processes to meet increasing customer demands and avoid product obsolescence[62]. Business Operations - The company operates under a unique business model characterized by small-batch, multi-variety, and custom production based on orders[31]. - The company has established long-term partnerships with major enterprises such as Siemens and GE, enhancing its customer resource quality[35]. - The company is a key player in the thick-walled sliding bearing sector in China, recognized as a national high-tech enterprise with leading capabilities in R&D, design, and manufacturing[33]. Future Outlook and Strategy - The company aims to enhance product quality and brand influence to maintain market share amid increasing competition in the sliding bearing industry[60]. - The company plans to develop new products and diversify its customer base to mitigate risks associated with customer concentration[61]. - The management expressed optimism about achieving a revenue growth target of 10% in the upcoming fiscal year[146]. Corporate Governance and Compliance - There were no significant lawsuits or arbitration matters during the reporting period[81]. - The company has not engaged in any major related party transactions during the reporting period[83]. - The company has not experienced any penalties or rectification situations during the reporting period[82]. - The financial report for the first half of 2021 was not audited[113]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 7,866[101]. - The largest shareholder, He Quanbo, holds 28.12% of the shares, totaling 42,187,466 shares[101]. - Beijing Huachuang Yi Sheng Asset Management holds 13.76% of the shares, totaling 20,643,750 shares, which are pledged[101]. Accounting Policies - The company adheres to the enterprise accounting standards, ensuring the financial statements reflect a true and complete picture of its financial status[157]. - The accounting currency used is Renminbi (RMB)[160]. - The preparation of consolidated financial statements includes all subsidiaries controlled by the parent company, based on the financial statements of the parent and its subsidiaries[162].

申科滑动轴承股份有限公司 2021 年第一季度报告全文 申科滑动轴承股份有限公司 2021 年第一季度报告 2021 年 04 月 1 申科滑动轴承股份有限公司 2021 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人何建南、主管会计工作负责人谢昶及会计机构负责人(会计主管 人员)何碧君声明：保证季度报告中财务报表的真实、准确、完整。 2 申科滑动轴承股份有限公司 2021 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 39,671,114.04 | 26,677,233.57 | 48.71% | | 归属于上市公司股东的净利润（元） | 1,102,865.66 | -7,616,631. ...

Financial Performance - The company's operating revenue for 2020 was ¥169,833,443.61, representing a 38.28% increase compared to ¥122,814,262.32 in 2019[17] - The net profit attributable to shareholders was -¥32,675,224.04, a decrease of 13.18% from -¥28,871,341.16 in the previous year[17] - The net cash flow from operating activities was ¥9,162,599.90, down 33.22% from ¥13,721,568.52 in 2019[17] - The basic earnings per share were -¥0.2178, reflecting a 13.14% decline from -¥0.1925 in 2019[17] - Total assets at the end of 2020 were ¥627,294,102.26, a 2.42% increase from ¥612,465,439.64 at the end of 2019[17] - The net assets attributable to shareholders decreased by 6.59% to ¥463,283,483.97 from ¥495,958,708.01 in 2019[17] - The company reported a decrease in the net profit after deducting non-recurring gains and losses to -¥38,470,388.95, a slight decline of 1.58% from -¥37,873,836.07 in 2019[17] - The weighted average return on net assets was -6.81%, compared to -5.66% in the previous year[17] Revenue and Sales - In Q1 2020, the company's operating revenue was approximately CNY 26.68 million, which increased to CNY 57.51 million in Q2, but decreased to CNY 47.36 million in Q3 and CNY 38.28 million in Q4[22] - The revenue from large and medium-sized electric motors and large machinery accounted for 62.53% of total revenue, increasing by 61.33% year-on-year[41] - Domestic sales reached CNY 157.33 million, representing 92.64% of total revenue, with a year-on-year growth of 44.85%[43] - The company's total operating revenue for 2020 was CNY 164,694,041.21, representing an 18.07% increase compared to the previous year[46] - Domestic revenue accounted for CNY 157,332,053.56, an increase of 18.35% year-on-year, while international revenue was CNY 7,361,987.65, a 12.26% increase[46] Research and Development - The company invested CNY 12.09 million in R&D, representing a 33.68% increase from CNY 9.04 million in 2019[40] - The company developed a laser cladding 3D printing technology for bearing alloy layers, becoming the first in China to mass-produce sliding bearings using this technology[37] - The company aims to enhance its overall R&D capabilities to maintain technological leadership in the industry[74] - The company has established a new R&D center, which is expected to drive innovation and reduce time-to-market for new products by 20%[152] Market Position and Strategy - The company specializes in the R&D, production, and sales of thick-walled sliding bearings, with products widely used in high-speed, heavy-load, high-precision, and high-power machinery[27] - The company is recognized as a key player in the thick-walled sliding bearing sector in China, holding a leading position in market share, technology development, and production processes[31] - The company plans to expand its market presence and enhance product development in response to changing market demands[46] - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[152] Financial Management and Costs - The financial expenses surged by 913.20% to CNY 1.87 million, primarily due to increased loan interest expenses[40] - The overall operating cost increased by 41.72% year-on-year, indicating a need for strategic cost management[46] - The company has faced increased costs due to heightened customer demands for customization and material upgrades[74] Governance and Management - The company has a total of 7 board members, including 3 independent directors[145] - He Jianan serves as both the Chairman and General Manager since May 2016[146] - The management team includes professionals with experience in international finance and investment management[146] - The company has maintained a strict governance structure, ensuring independence from the controlling shareholder in business, personnel, assets, and finance[164] Risks and Challenges - The company has indicated potential risks in its future development outlook, which investors should be aware of[5] - The company is facing risks related to market competition, customer concentration, raw material price fluctuations, and technological advancements[84][85] - The company expects the market demand in the bearing industry to remain weak in the short term due to the overall economic downturn[77] Shareholder Information - The total number of shares is 150 million, with 99.61% being unrestricted shares[126] - The largest shareholder, He Quanbo, holds 28.12% of the shares, totaling 42,187,466 shares[129] - The total number of common shareholders at the end of the reporting period was 7,663, down from 7,856 at the end of the previous month[128] Internal Controls and Audit - The audit opinion issued by Tianjian Accounting Firm was a standard unqualified opinion, confirming that the financial statements fairly reflect the company's financial position and results of operations[182] - The internal control assurance report received a standard unqualified opinion, indicating no significant deficiencies in internal controls[178] - The company implemented key internal controls related to revenue recognition to mitigate risks associated with improper revenue reporting[186] Social Responsibility and Compliance - The company actively fulfills social responsibilities, focusing on economic and social benefits[117] - The company is not classified as a key pollutant discharge unit and adheres to environmental protection laws[118]

Financial Performance - Operating revenue for the reporting period was ¥47,363,934.92, representing a year-on-year increase of 24.34%[8] - Net profit attributable to shareholders was -¥4,312,480.46, a decrease of 30.96% compared to the same period last year[8] - Basic earnings per share were -¥0.0287, reflecting a 31.01% improvement from -¥0.0474 in the previous year[8] - The weighted average return on net assets was -0.88%, an increase of 0.33% compared to the previous year[8] - The company's operating revenue for Q3 2020 was CNY 47,363,934.92, an increase of 24.3% compared to CNY 38,093,692.84 in the same period last year[42] - The net loss for Q3 2020 was CNY 4,312,480.46, an improvement from a net loss of CNY 6,246,353.90 in Q3 2019, representing a reduction of 30.9%[43] - The total comprehensive loss for Q3 2020 was CNY 4,312,480.46, compared to a loss of CNY 6,246,353.90 in the same quarter last year[44] - The company's total operating revenue for the year-to-date period was CNY 131,550,028.77, a significant increase from CNY 90,685,964.92 in the previous year[50] - Operating costs for the year-to-date period reached CNY 141,122,741.30, up from CNY 107,770,658.32 in the same period last year[50] Cash Flow - The net cash flow from operating activities was -¥21,805,074.93, a significant decline of 841.05% year-on-year[8] - The net cash flow from operating activities for Q3 2020 was -8,091,519.63 CNY, compared to 15,192,339.98 CNY in Q3 2019, indicating a significant decline[60] - Cash inflow from operating activities was CNY 109,657,163.62, down from CNY 129,356,542.97 in the same quarter last year, a decrease of 15.3%[58] - The cash flow from operating activities for the year-to-date period was -7,926,920.02 CNY, down from 14,006,683.69 CNY in the previous year[62] Assets and Liabilities - Total assets at the end of the reporting period reached ¥665,836,630.20, an increase of 8.71% compared to the previous year[8] - Total liabilities rose to CNY 210,785,578.70, up from CNY 123,941,966.14, indicating an increase of about 69.9%[39] - Current liabilities totaled CNY 191,736,089.12, compared to CNY 104,581,731.71 in the previous period, marking a significant increase of approximately 83.3%[39] - The company's equity decreased to CNY 496,294,399.93 from CNY 501,587,344.81, a decline of about 1.6%[39] - Total cash outflow for operating activities was 117,748,683.25 CNY in Q3 2020, compared to 114,164,202.99 CNY in Q3 2019, showing a slight increase of approximately 2.3%[60] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,892[12] - The largest shareholder, He Quanbo, holds 28.12% of the shares, amounting to 42,187,466 shares, which are pledged[12] Investments and Expenses - Financial expenses surged to ¥142.40 million, an increase of 1,727.98% due to higher loan interest payments[17] - Research and development expenses increased to CNY 2,722,140.65 in Q3 2020, up 51.6% from CNY 1,795,804.68 in Q3 2019[42] - The company is focusing on expanding its research and development efforts, as indicated by the increase in R&D expenses[42] Other Information - The company reported government subsidies amounting to ¥4,761,013.71 during the reporting period[9] - The company has changed its office address to No. 1, Jianguo East Road, Zhuji City, Zhejiang Province, to support business development[18] - The company has completed the registration change and revised its articles of association as of August 14, 2020[19] - The company has not undergone an audit for the third quarter report, which was released on October 30, 2020[74] - The report indicates a significant focus on maintaining a strong capital structure with a total equity ratio of approximately 81%[70] - The company is in compliance with new revenue and leasing standards effective from 2020, although specific impacts on financials were not detailed[74]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥84,186,093.85, representing a 60.07% increase compared to ¥52,592,272.08 in the same period last year[17]. - The net profit attributable to shareholders was a loss of ¥2,803,229.92, an improvement of 32.71% from a loss of ¥4,165,956.56 in the previous year[17]. - The net cash flow from operating activities increased by 11.95% to ¥13,713,555.30, compared to ¥12,249,872.25 in the same period last year[17]. - The company's total revenue for the reporting period reached CNY 81,549,198.92, representing a year-on-year increase of 25.43%[42]. - The net loss for the first half of 2020 was CNY 2,803,229.92, an improvement from a net loss of CNY 4,165,956.56 in the same period of 2019[138]. - The total comprehensive income for the first half of 2020 was -8,275,515.31 CNY, compared to -3,288,602.15 CNY in the same period of 2019, indicating a decline[146]. Assets and Liabilities - Total assets at the end of the reporting period were ¥665,126,037.29, an increase of 8.60% from ¥612,465,439.64 at the end of the previous year[17]. - The company's total liabilities increased to CNY 171,970,559.20 from CNY 116,506,731.63, which is an increase of approximately 47.6%[131]. - The company's current assets totaled CNY 364,333,773.98, up from CNY 316,881,899.36 at the end of 2019, indicating an increase of about 14.9%[129]. - The company's cash and cash equivalents decreased to CNY 88,264,381.58, accounting for 13.27% of total assets, down from 24.78% in the previous year[47]. - Accounts receivable increased to CNY 118,407,785.20, representing 17.80% of total assets, up from 15.07% year-on-year[47]. Research and Development - The company emphasizes independent innovation, collaborating with universities and research institutions to develop new products and technologies[34]. - Research and development expenses rose by 13.52% to ¥450,470 from ¥396,800 in the previous year, reflecting increased investment in R&D[36]. - The company successfully developed a laser cladding 3D printing technology for babbitt alloy, becoming the first in China to mass-produce sliding bearings using this technology[35]. Market and Sales - Domestic sales accounted for 95.83% of total revenue, increasing by 68.99% year-on-year, while international sales decreased by 42.79%[40]. - The revenue from large and medium-sized motors increased by CNY 26,881,800, with a growth rate of 95.91% due to increased business from key clients[42]. - The company experienced a 42.79% decline in export revenue, amounting to a decrease of CNY 652,800 due to reduced foreign trade activities[42]. Risks and Challenges - The company faced certain risks in its future operations, which are detailed in the report[4]. - The company is facing risks from market competition, particularly from domestic sliding bearing manufacturers increasing their investments in advanced production equipment and technology[68]. - The company has identified a risk due to the concentration of major customers, which could negatively impact operations if demand from these customers declines[69]. Corporate Governance - The company has not reported any issues or other circumstances regarding the use and disclosure of fundraising[58]. - The company has not engaged in any significant related party transactions during the reporting period[85]. - The company has not experienced any major litigation or arbitration matters during the reporting period[81]. Financial Reporting - The company's half-year financial report has not been audited[79]. - The financial report for the first half of 2020 was not audited, which may affect the reliability of the financial data presented[126]. - The financial statements are prepared based on the principle of going concern, indicating no significant doubts about the company's ability to continue operations[168]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,548[110]. - The largest shareholder, He Quanbo, holds 28.12% of the shares, amounting to 42,187,466 shares, which are pledged[110]. - The total number of shares is 150,000,000, with 99.61% being unrestricted shares[108].

Financial Performance - The company's operating revenue for 2019 was ¥122,814,262.32, a decrease of 24.13% compared to ¥161,873,826.64 in 2018[17] - The net profit attributable to shareholders was -¥28,871,341.16, representing a decline of 810.26% from a profit of ¥4,064,904.36 in the previous year[17] - The net cash flow from operating activities decreased by 42.36% to ¥13,721,568.52 from ¥23,804,251.87 in 2018[17] - The basic earnings per share were -¥0.1925, a drop of 810.33% compared to ¥0.0271 in 2018[17] - Total assets at the end of 2019 were ¥612,465,439.64, a slight decrease of 1.24% from ¥620,164,148.95 in 2018[17] - The net assets attributable to shareholders decreased by 5.50% to ¥495,958,708.01 from ¥524,830,049.17 in 2018[17] - Operating profit was -¥29.07 million, a significant decline of 756.06% year-on-year[36] - The gross profit margin for the company was 15.26%, down 9.22% year-on-year[42] - The company reported a revenue of ¥122.81 million in 2019, a decrease of 24.13% compared to ¥161.87 million in 2018[37] Operational Challenges - The company faced significant challenges in 2019, leading to a substantial decline in both revenue and profit margins[6] - The company is expected to address operational risks and improve performance in the future, as detailed in the outlook section of the report[6] - The company is focused on addressing industry challenges such as low-end competition and the need for technological innovation to enhance its core competitiveness[29] - The company has not reported any changes in its main business or significant shareholder changes since its listing[16] Revenue and Market Dynamics - Domestic revenue accounted for 88.44% of total revenue, reflecting a 29.10% decline from the previous year[41] - Domestic revenue accounted for ¥108,620,335.76, reflecting a decline of 29.10% year-on-year, while international revenue increased by 32.78% to ¥3,733,439.46[44] - The company is focusing on expanding its international market presence, as indicated by the 33.47% increase in international revenue[44] - The company has seen a substantial increase in construction projects, particularly in office building renovations, contributing to a significant rise in ongoing projects[31] Research and Development - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the year, representing a growth of 15% compared to the previous year[144] - New product development initiatives are underway, with an investment of 200 million RMB allocated for R&D in advanced bearing technologies[145] - The company plans to enhance its product development by focusing on high-tech and high-value-added products, aiming to improve market share and core competitiveness[57] - The company has established strategic partnerships with key domestic universities for collaborative research in sliding bearing technology, reinforcing its competitive edge in innovation[32] Cost Management and Efficiency - The company implemented cost reduction and efficiency enhancement measures, achieving a 17.86% reduction in operating costs to ¥99.55 million[37] - Management expenses increased by 59.95% to ¥29.91 million, primarily due to higher employee compensation and depreciation[38] - The company has implemented new operational strategies aimed at improving efficiency, which are projected to reduce costs by 5% annually[146] - The company will continue to focus on cost-saving measures and efficiency improvements across all operational aspects to enhance revenue and reduce operational costs[83] Shareholder and Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares[7] - The company did not distribute any cash dividends in the past three years, with a net profit attributable to ordinary shareholders of -28,871,341.16 CNY in 2019, and 0.00% cash dividend payout ratio[89] - The company reported a positive profit available for distribution to ordinary shareholders but did not propose any cash dividend distribution plan[89] Governance and Compliance - The company adopted retrospective adjustment for accounting policy changes in accordance with the revised financial reporting formats issued by the Ministry of Finance[95] - The company executed new accounting standards related to financial instruments starting from January 1, 2019, without adjusting comparative period information[95] - The audit report issued by Tianjian Accounting Firm provided a standard unqualified opinion on the financial statements, indicating fair representation in accordance with accounting standards[177] - The company has established a complete separation from its controlling shareholder in terms of business operations and management[164] Assets and Liabilities - The total amount of cash and cash equivalents decreased by ¥1,555,895.22, a significant improvement compared to a decrease of ¥33,604,569.94 in 2018, reflecting a 95.37% increase in cash recovery[60] - The company's inventory increased to ¥99,924,309.64, which is 6.09% higher than the previous year, indicating an increase in goods shipped and inventory[64] - Total liabilities increased to ¥116,506,731.63 from ¥95,334,099.78, marking a rise of 22.2%[194] - The total equity attributable to shareholders decreased to ¥495,958,708.01 from ¥524,830,049.17, a decline of 5.5%[194] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12% based on current market trends and expansion strategies[146] - The company plans to continue expanding its market presence and enhance its product offerings through ongoing research and development initiatives[72] - A strategic acquisition of a local competitor is in progress, expected to enhance production capacity by 30% and reduce operational costs[145]

Financial Performance - The company's operating revenue for Q1 2020 was ¥26,677,233.57, representing an increase of 8.44% compared to ¥24,600,983.10 in the same period last year[8] - The net profit attributable to shareholders was -¥7,616,631.90, a significant decline of 508.27% from -¥1,252,176.60 year-on-year[8] - Basic and diluted earnings per share were both -¥0.0508, reflecting a drop of 512.05% from -¥0.0083 in the same period last year[8] - The company reported a significant increase in financial expenses, with a rise of 25,342.86% to CNY 17.67 million due to loan interest expenses incurred during the period[16] - The net profit for Q1 2020 was a loss of CNY 7,616,631.90, compared to a loss of CNY 1,252,176.60 in the same period last year, indicating a significant decline in profitability[39] - The total profit for the period was a loss of CNY 7,668,716.04, compared to a loss of CNY 1,008,184.56 in the previous year, indicating a significant increase in losses[42] Cash Flow - The net cash flow from operating activities was -¥8,171,383.05, a decrease of 279.11% compared to ¥4,562,241.99 in the previous year[8] - The total cash outflow from operating activities was 48,662,792.51 yuan, compared to 43,250,055.80 yuan in the previous period, indicating increased operational costs[49] - Cash received from sales of goods and services was CNY 30,912,196.07, down from CNY 43,901,320.27 in the previous period, showing a decline of approximately 29.5%[44] - The total operating cash inflow was 31,435,019.16 yuan, a decrease from 47,366,590.77 yuan in the previous period, highlighting a decline in sales performance[48] - Total cash inflow from investment activities was 10,032,123.29 yuan, while cash outflow was 43,084,281.75 yuan, resulting in a net cash flow from investment activities of -33,052,158.46 yuan, a decrease from -4,673,575.29 yuan in the prior period[49] Assets and Liabilities - Total assets at the end of the reporting period were ¥634,204,683.90, an increase of 3.55% from ¥612,465,439.64 at the end of the previous year[8] - Total liabilities rose to CNY 145,862,607.79, up from CNY 116,506,731.63, marking an increase of 25.19%[31] - Current liabilities totaled CNY 126,605,954.95, compared to CNY 97,146,497.20, representing a 30.34% increase[31] - Owner's equity decreased to CNY 488,342,076.11 from CNY 495,958,708.01, a decline of 1.25%[32] - The company reported a total liability of 116,506,731.63 yuan, indicating a stable financial structure[52] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 8,296[11] - The top three shareholders held a combined 55.04% of the company's shares, with the largest shareholder holding 28.12%[11] Government Support and Impact of Pandemic - The company received government subsidies amounting to ¥1,543,374.82 during the reporting period, which were related to business operations[9] - The company reported a loss of -¥1,640,821.89 due to work stoppages caused by the pandemic[9] Investment and Prepayments - Short-term borrowings increased to CNY 3,500 million, reflecting new bank loans taken during the reporting period[16] - The company’s prepayments increased by 117.39% to CNY 1,512.61 million, attributed to higher material prepayments at the end of the reporting period[16] - The company received 10,000,000.00 yuan from investment recoveries, up from 3,000,000.00 yuan in the previous period, showing improved investment recovery efforts[49] - The company incurred 19,000,000.00 yuan in cash payments for investments, reflecting ongoing investment activities despite the negative cash flow[49] Changes in Accounting Standards - The company adopted new revenue recognition standards starting January 1, 2020, adjusting the initial balance of advance receipts to contract liabilities[56] Audit Status - The first quarter report for 2020 was not audited, indicating a potential area for further scrutiny in financial reporting[57]