Revenue and Profitability - The company's revenue for Q1 2021 was ¥277,640,378.07, representing a 40.89% increase compared to ¥197,055,978.26 in the same period last year[9] - Operating revenue increased by 40.89% to ¥277,640,378.07, attributed to the recovery of normal operations and realization of backlog orders[19] - The net profit attributable to shareholders was a loss of ¥28,610,817.57, slightly improved from a loss of ¥29,646,030.03, marking a 3.49% decrease in losses[9] - The company's net profit attributable to shareholders is expected to be a loss of ¥29 million for the first half of 2021, with a projected increase in order delivery volume in Q2[27] - The company reported a net loss of CNY 11,296,875.28 for the period, compared to a profit of CNY 18,622,995.43 in the previous period[39] - Net loss for Q1 2021 was CNY 30,143,187.72, a slight improvement from a net loss of CNY 31,523,080.33 in Q1 2020[47] Cash Flow and Liquidity - The net cash flow from operating activities improved significantly to -¥14,939,843.38, an 88.19% increase compared to -¥126,500,887.13 in the previous year[9] - Cash received from sales of goods and services increased by 84.64% to ¥420,009,148.02, reflecting higher cash inflows from sales[20] - The total cash inflow from operating activities was CNY 435,049,081.80, compared to CNY 234,611,035.08 in the previous period, representing an increase of approximately 85.5%[53] - The net cash flow from operating activities was -CNY 14,939,843.38, an improvement from -CNY 126,500,887.13 in the previous period[54] - Cash outflow for purchasing goods and services was CNY 307,271,290.71, up from CNY 236,396,180.63, indicating a rise of about 29.9%[54] - The ending cash and cash equivalents balance was CNY 160,383,506.34, compared to CNY 103,289,152.44 in the previous period, indicating an increase of about 55.3%[55] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,878,941,474.14, a decrease of 1.99% from ¥3,957,656,162.89 at the end of the previous year[9] - Total current assets decreased from CNY 1,905,768,261.61 as of December 31, 2020, to CNY 1,815,945,876.33 as of March 31, 2021, representing a decline of approximately 4.7%[36] - Total non-current assets increased from CNY 2,051,887,901.28 to CNY 2,062,995,597.81, reflecting a growth of approximately 0.5%[37] - Total liabilities decreased from CNY 1,804,029,124.96 to CNY 1,755,020,155.80, a decline of about 2.7%[38] - The company's total liabilities increased to CNY 1,222,597,706.01 from CNY 1,084,469,173.85 year-over-year, reflecting a growth of 12.8%[46] Shareholder Information - The total number of common shareholders at the end of the reporting period was 53,358[12] - The largest shareholder, Lin Rujie, holds 21.75% of the shares, amounting to 146,628,500 shares, with 60,269,400 shares pledged[12] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[13] Expenses and Financial Performance - Total operating costs for Q1 2021 were CNY 319,353,521.37, up 37.0% from CNY 232,946,951.90 in Q1 2020[46] - Research and development expenses for Q1 2021 were CNY 14,550,627.46, slightly up from CNY 14,235,811.14 in Q1 2020[46] - The company's financial expenses showed a decrease in interest income by 43.10% to -¥233,273.81, due to reduced bank interest income[19] - The company reported a credit impairment loss of CNY 5,194,612.39, compared to a loss of CNY -2,630,420.59 in the previous year[46] Other Financial Metrics - The basic earnings per share for the period was -¥0.0424, a slight improvement of 3.64% from -¥0.0440 in the same period last year[9] - Basic and diluted earnings per share for Q1 2021 were both CNY -0.0424, compared to CNY -0.0440 in the same quarter last year[47] - Other comprehensive income after tax for Q1 2021 was CNY 893,153.92, improving from a loss of CNY -696,562.86 in Q1 2020[47] - The company reported a total comprehensive loss of CNY 11,074,561.04 for the period[54]

Financial Performance - The company's operating revenue for 2020 was ¥1,458,378,294.45, a decrease of 3.65% compared to ¥1,513,568,678.62 in 2019[18]. - The net profit attributable to shareholders was a loss of ¥181,110,263.12, representing a decline of 418.15% from a profit of ¥56,926,436.82 in 2019[18]. - The net cash flow from operating activities decreased by 19.26% to ¥130,697,145.38 from ¥161,874,933.63 in the previous year[18]. - The basic earnings per share were -¥0.2687, down 417.99% from ¥0.0845 in 2019[18]. - Total assets at the end of 2020 were ¥3,957,656,162.89, a decrease of 1.42% from ¥4,014,646,983.53 at the end of 2019[18]. - The net assets attributable to shareholders decreased by 7.98% to ¥2,114,417,311.58 from ¥2,297,872,907.60 in 2019[18]. - The company reported a significant increase in non-recurring losses, with the net profit excluding non-recurring items at -¥184,921,609.00, compared to -¥36,699,640.09 in 2019, a decline of 403.88%[18]. - The weighted average return on net assets was -8.21%, down from 2.50% in the previous year[18]. - The gross profit margin for the refrigeration equipment manufacturing sector was 13.42%, down 5.52% from the previous year[45]. - The company reported a 10.11% decrease in sales of compressor products, totaling CNY 499.04 million[43]. Cash Flow and Investments - The net cash flow from operating activities turned positive in Q3 2020 with ¥110.62 million, and further increased to ¥187.24 million in Q4 2020[23]. - The company reported a significant decrease of 169.27% in net cash flow from investing activities, totaling -113,178,724.29 yuan, primarily due to reduced cash from investment recoveries[65]. - The company reported a loss of 1,586,568.58 yuan from investment income, which accounted for 0.76% of total profit[68]. - The company’s total revenue from the oil and gas technology service segment was significantly impacted by a shift in cost structure, with labor costs rising to 44.20% of total costs in 2020 from 34.94% in 2019[53]. Research and Development - The company has developed new low-carbon refrigerants and compressors, focusing on energy efficiency and environmental sustainability[30]. - The company is recognized as a provincial-level new research and development institution, indicating strong innovation capabilities in hydrogen energy systems[39]. - The company has invested 500.64 million in the development of hydrogen energy compressors, which are currently undergoing performance testing[62]. - Research and development expenses increased by 7.50% to CNY 89.94 million in 2020 from CNY 83.66 million in 2019[58]. - The company has established a training system focused on capability enhancement and talent reserve, conducting multiple training sessions in 2020[179]. Market Expansion and Strategy - The company is actively expanding its presence in the hydrogen energy sector, with ongoing research and development in hydrogen fuel cell components[32]. - The company aims to focus on low-carbon development in the refrigeration industry, aligning with national goals for carbon neutrality by 2060[79]. - The company plans to expand into emerging overseas markets while maintaining existing ones, anticipating foreign exchange fluctuations to impact performance[85]. - The company is focusing on expanding its brand advantage through enhanced market research and marketing strategies to stabilize its main business[89]. - The company aims to enhance its operational efficiency, targeting a 5% reduction in operational costs by the next fiscal year[175]. Governance and Compliance - The company has implemented a robust information disclosure process in compliance with the Shenzhen Stock Exchange regulations, enhancing governance and internal control management[116]. - The company has maintained a continuous relationship with its accounting firm for three years, with an audit fee of ¥1.1 million for the current period[111]. - The company has not faced any delisting situations or bankruptcy restructuring matters during the reporting period[111]. - The company has established an independent operational system, ensuring no reliance on the controlling shareholder for business activities[195]. - The company strictly adheres to legal regulations in its governance structure, ensuring independent operation from its controlling shareholder[183]. Shareholder Information - The company has not proposed any cash dividends for the fiscal year 2020, despite having positive distributable profits[98]. - The company has established a three-year shareholder return plan (2018-2020) to ensure a stable return mechanism for shareholders[96]. - The company has committed to distributing at least 30% of its distributable profits as cash dividends annually from 2018 to 2020, with the distributable profit for the year being the net profit attributable to shareholders[103]. - The total number of shareholders at the end of the reporting period was 55,991, with 53,358 being ordinary shareholders[144]. - The largest shareholder, Lin Rujie, holds 21.75% of the shares, amounting to 146,628,500 shares, with 69,019,300 shares pledged[145]. Employee and Management Structure - The total number of employees in the company is 3,910, with 156 in the parent company and 3,754 in major subsidiaries[177]. - The company has a professional composition of 2,333 production personnel, 406 sales personnel, 838 technical personnel, 44 financial personnel, 93 administrative personnel, and 196 other personnel[177]. - The total pre-tax remuneration for the board and senior management is 453.83 million[176]. - The management team is committed to strategic growth and operational efficiency, leveraging their expertise in various fields[161]. - The company has a strong management team with diverse professional backgrounds, including finance, engineering, and law, enhancing its operational capabilities[161][165].

Financial Performance - Net profit attributable to shareholders was -¥13,744,747.85, a decrease of 131.18% year-on-year[9] - Operating revenue for the reporting period was ¥363,027,851.60, down 3.67% compared to the same period last year[9] - Basic earnings per share were -¥0.0204, a decline of 131.19% compared to the same period last year[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥15,731,770.66, a decrease of 134.05% year-on-year[9] - Estimated cumulative net profit for the year is projected to be a loss between -¥180 million and -¥150 million, a decrease of 416.20% compared to the previous year[24] - Net profit for Q3 2020 was a loss of CNY 14,273,000.54, compared to a profit of CNY 38,891,911.19 in Q3 2019, representing a significant decline[45] - The company's operating profit for the period was a loss of CNY 13,638,116.80, compared to a profit of CNY 46,776,044.35 in the previous year[44] - The company reported a total comprehensive loss of -¥45,816,868.47, compared to a comprehensive income of ¥43,412,418.02 in the previous period[53] Assets and Liabilities - Total assets at the end of the reporting period reached ¥4,121,626,904.36, an increase of 2.66% compared to the previous year[9] - Total liabilities reached CNY 1,824,574,721.83, compared to CNY 1,667,754,850.94, reflecting an increase of approximately 9.41%[36] - Current assets totaled CNY 2,025,946,778.65, up from CNY 1,901,784,613.57, indicating an increase of about 6.54%[34] - Inventory increased significantly to CNY 776,896,102.30 from CNY 640,791,511.02, representing a growth of approximately 21.19%[34] - Long-term equity investments increased by 380.35% to ¥18.86 million due to reclassification and additional investments in Jet Oil and Gas[17] - The total owner's equity decreased to CNY 2,297,052,182.53 from CNY 2,346,892,132.59, a decline of about 2.10%[37] - The company reported a decrease in retained earnings to CNY 157,335,435.27 from CNY 199,733,258.55, a drop of approximately 21.23%[37] Cash Flow - The net cash flow from operating activities was ¥110,617,112.26, a significant increase of 983.28% year-on-year[9] - Operating cash flow for the period was negative at -56,541,498.19 CNY, compared to a positive cash flow of 21,860,313.46 CNY in the same period last year, indicating a decline in operational efficiency[57] - Total cash inflow from operating activities decreased to 1,052,826,828.72 CNY, down 16.3% from 1,258,312,077.26 CNY year-over-year[57] - Cash inflow from sales of goods and services was 1,024,653,336.25 CNY, down 12.1% from 1,166,679,796.72 CNY in the same period last year[57] - The ending cash and cash equivalents balance was 101,883,908.18 CNY, a decrease of 68.1% from 318,843,453.52 CNY at the end of the previous year[58] Shareholder Information - The company reported a total of 56,236 common shareholders at the end of the reporting period[13] - The largest shareholder, Lin Rujie, holds 21.75% of the shares, amounting to 146,628,500 shares[13] Government Support and Subsidies - The company received government subsidies amounting to ¥13,894,132.03 during the reporting period[10] - Other income increased by 191.45% to ¥13.98 million mainly from increased government subsidies[17] Investment and Expenditures - Cash paid for fixed asset purchases decreased by 43.12% to ¥52.51 million due to lower capital expenditures[18] - Investment income turned negative at -¥959.64 thousand compared to ¥97.21 million in the previous year due to lack of relevant transactions[17] - The company reported an investment loss of CNY 147,656.79, a significant drop from the investment income of CNY 96,003,216.38 in the previous year[44] Research and Development - Research and development expenses increased to CNY 23,030,763.59, up 39.2% from CNY 16,554,125.51 in the same quarter last year[44] - Research and development expenses increased to ¥54,559,744.52, up 21.5% from ¥44,940,429.95 in the previous period[52] Strategic Initiatives - The company plans to establish a wholly-owned subsidiary in Shanghai as part of its restructuring strategy[20] - The company is focusing on expanding its market presence and enhancing product development strategies to drive future growth[40] Accounting and Reporting - The company terminated its non-public offering of A-shares after receiving feedback from the China Securities Regulatory Commission[19] - The third-quarter report was not audited, indicating a potential area for further scrutiny[72]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥598,746,838.61, a decrease of 11.51% compared to ¥676,633,816.26 in the same period last year[17]. - The net profit attributable to shareholders was a loss of ¥28,653,075.43, representing a decline of 342.21% from a profit of ¥11,829,658.05 in the previous year[17]. - The net cash flow from operating activities was negative at ¥167,158,610.45, a decrease of 586.16% compared to ¥34,383,758.40 in the same period last year[17]. - The basic and diluted earnings per share were both negative at ¥-0.0425, a decline of 342.86% from ¥0.0175 in the same period last year[17]. - The company's revenue for the reporting period was ¥598,746,838.61, representing a decrease of 11.51% compared to ¥676,633,816.26 in the same period last year[44]. - The cost of sales decreased by 7.94% to ¥477,879,220.46 from ¥519,084,487.25 year-on-year[44]. - Research and development expenses were reduced by 20.63% to ¥41,594,887.10, down from ¥52,407,382.58[44]. - The company reported a 209.83% increase in other income, amounting to ¥10,680,648.84, primarily due to increased government subsidies[45]. - The revenue from the refrigeration equipment manufacturing segment was ¥381,352,100.36, accounting for 63.69% of total revenue, with a year-on-year decrease of 11.14%[46]. - Domestic sales contributed ¥499,501,731.00, representing 83.42% of total revenue, which is an 11.70% decrease from the previous year[46]. Assets and Liabilities - The total assets at the end of the reporting period were ¥4,122,418,210.31, an increase of 2.68% from ¥4,014,646,983.53 at the end of the previous year[17]. - The net assets attributable to shareholders decreased by 1.15% to ¥2,271,440,257.46 from ¥2,297,872,907.60 at the end of the previous year[17]. - The company's total assets at the end of the reporting period were 412.24 million yuan, with a net asset value of 227.14 million yuan and a debt-to-asset ratio of 43.79%[41]. - The total liabilities increased to CNY 1,805,015,771.02 from CNY 1,667,754,850.94, reflecting a growth of about 8.2%[137][138]. - The company's short-term borrowings amounted to ¥912,730,613.65, which is a decrease of 0.94% compared to the previous year[53]. - The total amount of guarantees provided by the company reached ¥37,422.09 million at the end of the reporting period, with actual guarantees remaining at ¥24,602.19 million[104]. Market Position and Strategy - The company maintains a leading position in the ice-making equipment market, with stable revenue growth driven by brand, technology, and quality advantages[25]. - The company has a diverse customer base across various sectors, including concrete cooling, cold chain logistics, nuclear power, chemicals, supermarkets, and food processing[25]. - The company is actively expanding its product offerings in the cold chain logistics sector, providing solutions for various cold storage needs, from small to large-scale warehouses[27]. - The company is focusing on upgrading its industrial capabilities, transitioning from traditional refrigeration to hydrogen energy technologies, creating new profit growth points[38]. - The company has established long-term cooperative relationships with institutions such as the Chinese Academy of Sciences and international companies, focusing on advanced compressor technologies and products[26]. Risks and Challenges - The company has outlined potential risks and countermeasures in its report, emphasizing the importance of risk awareness for investors[6]. - The company faced risks related to the ongoing COVID-19 pandemic, which affected supply chain and production operations[70]. - The company is exposed to market risks in the hydrogen fuel cell industry, influenced by national policies and economic conditions, and aims to strengthen core technology development[73]. - Accounts receivable have also risen with revenue growth, leading to potential collection risks, which the company plans to mitigate through enhanced credit assessments[72]. Shareholder Information - The total number of shareholders at the end of the reporting period was 61,370[117]. - The largest shareholder, Lin Rujie 1, held 21.75% of the shares, totaling 14,662,850 shares[117]. - The second-largest shareholder, Fujian Shuqin No. 1 Equity Investment Partnership, held 5.00% of the shares, totaling 33,703,700 shares[117]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[119]. - The company did not distribute cash dividends, issue bonus shares, or convert capital reserves into share capital for the half-year period[77]. Corporate Governance and Compliance - The company's half-year financial report was not audited[79]. - There were no major litigation or arbitration matters during the reporting period[82]. - The company is involved in several ongoing lawsuits related to construction contract disputes, with amounts involved including 929.74 million yuan and 641.68 million yuan[83]. - The financial statements were approved by the board of directors on August 26, 2020[182]. - The company has evaluated its ability to continue as a going concern for the next 12 months and found no significant doubts regarding its sustainability[185]. Investment and Financing Activities - The company plans to optimize its non-public stock issuance to meet the funding needs for the rapid development of the compressor business and the expansion of the hydrogen energy industry[74]. - The company is actively pursuing the non-public issuance of shares to support its business expansion[74]. - The company made a significant investment of CNY 11.4 million in Sichuan Jete Oil and Gas Engineering Technology Service Co., Ltd., transferring it to long-term equity investments[55].

Financial Performance - In 2019, the company achieved operating revenue of 151,356.87 million RMB, a year-on-year increase of 16.12%[1] - The total profit for 2019 was 6,476.39 million RMB, representing a significant year-on-year growth of 397.86%[1] - The net profit attributable to the parent company reached 5,692.64 million RMB, up 269.51% compared to the previous year[1] Research and Development - Research and development expenses increased by 44.78% to 8,366.36 million RMB, reflecting the company's commitment to enhancing product performance and market competitiveness[11] Assets and Liabilities - The company's total assets at the end of 2019 amounted to 401,464.70 million RMB, a 2.00% increase from the previous year[2] - The total liabilities were 166,775.49 million RMB, which is a 2.77% increase year-on-year[2] - The asset-liability ratio at the end of 2019 was 41.54%, indicating stable debt levels and strong repayment capacity[3] - Total liabilities increased by RMB 44.95 million compared to the beginning of the period, with current liabilities rising by RMB 77.54 million, while non-current liabilities decreased by RMB 32.59 million[18] - Long-term payables decreased by 59.60% to RMB 3,006.94 million, mainly due to new financing arrangements[18] Cash Flow - The company’s cash and cash equivalents increased by 93.08% to 30,548.82 million RMB, primarily due to revenue growth and investment income[16] - Net cash inflow from operating activities increased by 2,287.71% to RMB 16,187.49 million, driven by higher cash receipts from sales and services[20] - Total cash inflow for the year was RMB 376,817.07 million, while total cash outflow was RMB 362,955.86 million, resulting in a net cash inflow of RMB 13,861.21 million[20] - Investment cash inflow increased by 3,657.32% to RMB 16,338.68 million, attributed to cash recovered from investments[21] - The company recorded a cash and cash equivalents net increase of RMB 13,912.53 million, a 589.01% increase compared to the previous year[21] Subsidiaries and Equity - The company established four new subsidiaries in 2019, including one with a registered capital of RMB 30,000 million[22] - Owner's equity increased by RMB 33.60 million, with equity attributable to the parent company rising by RMB 43.89 million due to profitability[19] Impairment Loss - The company recognized an impairment loss of RMB 2,576.72 million on accounts receivable and other receivables[24]

Financial Performance - The company's revenue for Q1 2020 was ¥197,055,978.26, representing a decrease of 31.87% compared to ¥289,228,994.40 in the same period last year[9] - The net profit attributable to shareholders was a loss of ¥29,646,030.03, a decline of 1,393.06% from a profit of ¥2,292,700.43 in the previous year[9] - Basic and diluted earnings per share were both -¥0.0440, a decrease of 1,394.12% from ¥0.0034 in the previous year[9] - The net profit attributable to shareholders for the first half of 2020 is expected to be between -¥32 million and -¥28 million, compared to a profit of ¥11.83 million in the same period of 2019, indicating a significant decline in performance[21] - The company recorded a financial expense reduction of 45.77% to ¥11,353,939.20, primarily due to decreased interest expenses and foreign exchange losses[17] - The company reported a significant increase in financial expenses, with interest expenses at CNY 12,976,319.92 compared to CNY 14,985,763.56 last year[43] - The company reported a decrease in net profit, with undistributed profits falling from CNY 199,733,258.55 to CNY 170,087,228.52, a drop of approximately 14.9%[36] Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥126,500,887.13, worsening by 229.22% compared to a negative cash flow of ¥38,424,510.70 in the same period last year[9] - Cash received from operating activities decreased by 33.38% to ¥227,471,542.18 from ¥341,452,329.20, largely due to reduced sales collections amid the pandemic[17] - The company's cash and cash equivalents decreased by 51.33% to ¥148,684,322.56 from ¥305,488,220.73, reflecting the impact of reduced sales collections[17] - The cash flow from operating activities was -126,500,887.13 CNY, compared to -38,424,510.70 CNY in the previous year, indicating a worsening cash flow situation[53] - The cash flow from investing activities was -27,140,088.48 CNY, compared to -22,289,509.27 CNY in the previous year, reflecting increased investment outflows[53] - The cash flow from financing activities was -13,573,467.61 CNY, a decrease from a positive cash flow of 4,527,742.03 CNY in the same period last year[53] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,965,345,210.53, down 1.23% from ¥4,014,646,983.53 at the end of the previous year[9] - The net assets attributable to shareholders decreased by 1.27% to ¥2,268,589,289.33 from ¥2,297,872,907.60 at the end of the previous year[9] - Total liabilities were CNY 1,649,601,815.18, a slight decrease from CNY 1,667,754,850.94, reflecting a decline of about 1.08%[35] - The company's equity attributable to shareholders decreased from CNY 2,297,872,907.60 to CNY 2,268,589,289.33, a decline of about 1.27%[36] - The total liabilities decreased slightly to CNY 1,164,781,016.36 from CNY 1,169,278,750.85[43] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 63,873[12] - The largest shareholder, Lin Rujie, holds 21.75% of the shares, amounting to 146,628,500 shares, with 109,971,375 shares pledged[13] - The company did not engage in any repurchase transactions during the reporting period[14] Operational Challenges - The company's operating revenue for the current year is ¥197,055,978.26, a decrease of 31.87% compared to ¥289,228,994.40 in the same period last year, primarily due to the impact of the COVID-19 pandemic on sales[17] - The company expects to face challenges in its production, market, and sales activities due to the ongoing effects of the COVID-19 pandemic[22] - The company anticipates a stabilization in revenue in the second quarter as operations gradually resume following the pandemic[22] Investment Activities - Long-term equity investments increased by 389.40% to ¥19,215,642.84 from ¥3,926,365.26, indicating a significant expansion in investment activities[17] - The company received 37,000,000.00 CNY from investment recoveries during the quarter[53] Adjustments and Compliance - The company adjusted its financial statements to comply with new revenue and leasing standards, impacting the reporting of contract liabilities[57] - The report includes adjustments related to the new financial instrument standards, specifically reclassifying customer prepayments to contract liabilities[63]

Financial Performance - The company's operating revenue for 2019 was CNY 1,513,568,678.62, representing a 16.12% increase compared to CNY 1,303,415,524.53 in 2018[18]. - The net profit attributable to shareholders for 2019 was CNY 56,926,436.82, a significant increase of 269.51% from CNY 15,405,730.27 in the previous year[18]. - The net cash flow from operating activities reached CNY 161,874,933.63, marking a 2,287.71% increase compared to a negative cash flow of CNY 7,399,302.23 in 2018[18]. - The basic earnings per share for 2019 was CNY 0.0845, up 269.00% from CNY 0.0229 in 2018[18]. - Total assets at the end of 2019 amounted to CNY 4,014,646,983.53, a 2.00% increase from CNY 3,936,098,400.79 at the end of 2018[18]. - The net assets attributable to shareholders were CNY 2,297,872,907.60 at the end of 2019, reflecting a 1.95% increase from CNY 2,253,984,466.46 in 2018[18]. - The company reported a significant increase in net profit, but the net profit after deducting non-recurring gains and losses was negative at CNY -36,699,640.09[18]. - The weighted average return on net assets for 2019 was 2.50%, up from 0.69% in 2018[18]. Revenue Breakdown - Revenue from the refrigeration equipment manufacturing segment was ¥918,064,743.38, accounting for 60.66% of total revenue, with a year-on-year growth of 11.83%[54]. - The central air conditioning system sales and installation segment saw revenue of ¥141,686,547.90, a significant increase of 30.25% from ¥108,777,748.22 in 2018[54]. - Oil and gas technology services generated ¥453,817,387.34 in revenue, reflecting a year-on-year growth of 21.44%[54]. - Domestic sales accounted for 84.92% of total revenue, amounting to ¥1,285,303,282.87, with an 18.91% increase from the previous year[54]. Research and Development - The company invested 11,721.06 million yuan in R&D, accounting for 7.74% of operating revenue[49]. - The company holds over 300 patents and 500 key process technologies, enhancing its competitive edge in the refrigeration industry[40]. - The company is focusing on research and development in hydrogen fuel cells and core material development, indicating a commitment to innovation[180]. - The number of R&D personnel increased by 14.66% to 477, indicating a growing focus on innovation[73]. Cash Flow and Investments - Cash and cash equivalents increased by 93.28% compared to the previous year, attributed to revenue growth and investment income[37]. - Investment activities generated a net cash inflow of ¥163,386,767.06, a significant improvement compared to the previous year's outflow[73]. - The net cash flow from investment activities increased by 160.23% compared to the previous year, primarily due to increased cash received from investment recoveries and earnings[74]. - Investment income amounted to ¥96,235,421.12, accounting for 148.59% of total profit, primarily from dividends received from Hejili Investment[77]. Strategic Initiatives - The company is actively expanding its product offerings in the hydrogen energy sector, including fuel cell systems and hydrogen storage solutions, positioning itself for future growth[36]. - The company has established long-term partnerships with institutions for the development of advanced compressor technologies, enhancing its market position in the refrigeration sector[29]. - The company is transitioning from traditional refrigeration to energy comprehensive utilization solutions, expanding its market presence[45]. - The company is accelerating the development of fuel cell engines and core components, deepening strategic cooperation with domestic hydrogen fuel cell vehicle manufacturers and research institutions[106]. Risks and Challenges - The company has outlined potential risks in its future operational plans and performance forecasts, urging investors to remain aware of these risks[6]. - The company faces risks from intensified market competition, inventory management, accounts receivable collection, and exchange rate fluctuations[96][97][98][99]. Governance and Management - The company has a strong management team with extensive experience in finance and engineering, including the current General Manager and Vice General Managers[178][179]. - The company has established a comprehensive performance evaluation system and remuneration policy for its directors and senior management[183]. - The governance structure of the company complies with relevant laws and regulations, ensuring the protection of investor interests[191]. - The board of directors consists of nine members, including three independent directors, complying with legal requirements[194]. Shareholder Information - The largest shareholder, Lin Rujie, holds 135,249,150 shares, which is 21.75% of the total shares, with a decrease of 33,703,700 shares during the reporting period[159]. - The total number of shareholders at the end of the reporting period was 63,943, with no significant changes in the number of shareholders compared to the previous month[159]. - The company has implemented a lock-up period for certain shares, with specific release dates for different shareholders, including a total of 15,714,132 shares released from restrictions[157]. Future Outlook - In 2020, the company aims to stabilize its main business, enhance brand advantages, and optimize operational management systems to improve efficiency and reduce costs[102][103]. - The company plans to expand its sales network and innovate its business model to adapt to market changes[104]. - The company aims to expand its business applications and optimize customer structure to enhance market share and ensure steady growth in main business revenue[105].

Financial Performance - Net profit attributable to shareholders surged by 1,422.32% to CNY 44,077,225.12 for the reporting period[8] - Operating revenue rose by 9.85% to CNY 376,844,597.12 for the reporting period, and by 17.42% to CNY 1,053,478,413.38 year-to-date[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 2,218.60% to CNY 46,198,732.95 for the reporting period[8] - Basic earnings per share reached CNY 0.0654, reflecting a 1,420.93% increase compared to the same period last year[8] - The company reported a net profit growth of 31.25% in undistributed profits, reaching ¥220,529,594.31, driven by investment income[17] - The estimated net profit for 2019 is projected to be between 55 million and 60 million RMB, representing a year-on-year increase of 257.01% to 289.47%[25] - The net profit for Q3 2019 reached CNY 38,891,911.19, compared to CNY 1,676,561.83 in Q3 2018, indicating a substantial improvement in profitability[46] - The net profit for Q3 2019 reached approximately ¥33.31 million, a significant turnaround from a net loss of ¥25.28 million in the previous year[58] Assets and Liabilities - Total assets increased by 3.18% to CNY 4,061,234,301.03 compared to the end of the previous year[8] - As of September 30, 2019, the company's total assets amounted to approximately 4.06 billion RMB, up from 3.94 billion RMB at the end of 2018[36] - Current assets totaled approximately 1.93 billion RMB, compared to 1.67 billion RMB at the end of 2018, reflecting a strong liquidity position[35] - The total liabilities as of September 30, 2019, were approximately 1.71 billion RMB, compared to 1.62 billion RMB at the end of 2018[37] - The company's total liabilities decreased to CNY 1,193,524,566.53 from CNY 1,230,106,866.80, indicating a reduction in financial leverage[42] - Total liabilities amounted to ¥1,622,808,513.61, indicating a stable financial position[70] Cash Flow - The net cash flow from operating activities was negative at CNY -12,523,444.94, a decrease of 127.53% compared to the same period last year[8] - Cash received from sales of goods and services rose by 34.49% to ¥1,166,679,796.72, reflecting increased sales and cash collection[20] - Operating cash inflow for the current period reached ¥891,994,971.69, an increase of 13.6% compared to ¥785,082,891.29 in the previous period[64] - Cash flow from investment activities included ¥145,000,000.00 from recovering investments, with no comparable figure in the previous period[66] - The cash flow from operating activities generated a net cash inflow of approximately ¥21.86 million, a recovery from a net outflow of ¥104.53 million in the previous year[62] Shareholder Information - The company reported a total of 61,296 shareholders at the end of the reporting period[12] - The top shareholder, Lin Rujie, holds 26.75% of the shares, amounting to 180,332,200 shares[12] - The company did not engage in any repurchase transactions among the top shareholders during the reporting period[13] - The company plans to repurchase shares from the partnership fund within a limit of ¥135 million[23] Investment and Income - Investment income surged by 8293.82% to ¥97,214,740.15, mainly from the recognition of investment income from other equity investments[20] - The company reported an investment income of CNY 96,003,216.38 for Q3 2019, a significant recovery from a loss of CNY 374,136.03 in the previous year[46] - The investment income for Q3 2019 was CNY 97,161,753.12, a recovery from a loss of CNY 418,259.64 in the previous year[49] Operational Metrics - Total operating revenue for Q3 2019 was CNY 376,844,597.12, an increase of 9.5% compared to CNY 343,038,485.61 in the same period last year[45] - Total operating costs for Q3 2019 were CNY 405,362,750.91, up from CNY 334,270,597.51, reflecting a significant increase in operating expenses[45] - The company's operating revenue for Q3 2019 was approximately ¥684 million, an increase of 3.3% compared to ¥658 million in the same period last year[58] Equity and Comprehensive Income - The total equity attributable to shareholders of the parent company rose to CNY 2,301,179,449.60 from CNY 2,253,984,466.46, reflecting a growth in shareholder value[41] - The total comprehensive income attributable to the parent company was CNY 21,320,588.19, compared to CNY 7,163,231.00 in the previous year, reflecting a growth of 197.5%[49] - The total comprehensive income for the period was CNY 27,412,902.39, compared to a loss of CNY 4,290,823.07 in the same quarter last year[51] Research and Development - Research and development expenses decreased to CNY 2,209,352.57 from CNY 9,150,172.96, indicating a reduction of 75.8%[49] - Research and development expenses for the quarter were approximately ¥13.47 million, down from ¥26.85 million in the previous year, indicating a 50% reduction[58] Financial Expenses - Financial expenses for interest increased by 30.54% to ¥49,908,383.97 due to higher loan interest payments and increased discount interest[19] - The financial expenses increased to approximately ¥35.56 million, up from ¥23.60 million in the same quarter last year, primarily due to increased interest expenses[58]

Financial Performance - The company's operating revenue for the first half of 2019 was ¥676,633,816.26, representing a 22.10% increase compared to ¥554,179,037.36 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥11,829,658.05, up 9.36% from ¥10,816,917.87 in the previous year[18]. - The net profit after deducting non-recurring gains and losses reached ¥5,517,226.56, a significant increase of 264.31% compared to a loss of ¥3,357,828.84 in the same period last year[18]. - The net cash flow from operating activities was ¥34,383,758.40, a turnaround from a negative cash flow of ¥150,021,856.08 in the previous year, marking a 122.92% improvement[18]. - The total operating revenue for the reporting period reached RMB 676,633,816.26, representing a year-on-year increase of 22.10% compared to RMB 554,179,037.36 in the same period last year[41]. - Operating profit reached RMB 19.52 million, up 87.82% compared to the previous year[37]. - The gross profit margin for the first half of 2019 was approximately 2.2%, down from the previous year's margin, indicating increased cost pressures[135]. Assets and Liabilities - The total assets at the end of the reporting period were ¥4,067,828,032.07, reflecting a 3.35% increase from ¥3,936,098,400.79 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company increased by 1.14% to ¥2,279,668,670.92 from ¥2,253,984,466.46 at the end of the previous year[18]. - The company's total assets as of June 30, 2019, were ¥3,366,069,431.83, slightly down from ¥3,375,580,693.53 at the end of 2018[132]. - Total liabilities increased to ¥1,219,218,581.85 as of June 30, 2019, compared to ¥1,230,106,866.80 at the end of 2018, showing a decrease of 0.9%[132]. - The total current liabilities were CNY 1,546,111,049.16, up from CNY 1,432,993,859.03, reflecting an increase of approximately 7.88%[127]. Earnings and Dividends - The basic earnings per share for the reporting period was ¥0.0175, up 9.38% from ¥0.0160 in the same period last year[18]. - The diluted earnings per share also stood at ¥0.0175, reflecting a 9.38% increase compared to ¥0.0160 in the previous year[18]. - The company plans not to distribute cash dividends or issue bonus shares for this period[7]. - The company has committed to distributing at least 30% of its distributable profits as cash dividends annually, contingent on no major investment plans or cash expenditures occurring[74]. Research and Development - Research and development investment increased by 27.67% to RMB 52.41 million, indicating a focus on innovation[39]. - Research and development expenses for the first half of 2019 amounted to ¥28,386,304.44, compared to ¥25,542,007.83 in the first half of 2018, representing an increase of 7.2%[135]. Market and Business Development - The company signed a cooperation agreement for a fuel cell engine project with Chongqing Liangjiang New Area, enhancing its position in the hydrogen fuel cell market[36]. - The company is expanding its hydrogen energy business through acquisitions and partnerships, integrating core technologies from Sweden, Canada, and Japan[29]. - The revenue from the central air conditioning system installation and sales surged by 61.82%, driven by increased market demand, particularly in Zhejiang and surrounding areas[44]. - The oil and gas technology service revenue grew by 55.16%, attributed to the addition of LNG liquefaction and sulfur recovery businesses, along with significant sales growth in related equipment[44]. Risks and Challenges - The company faces risks from intensified market competition, with a focus on enhancing core competitiveness through technology research and innovation[64]. - Rising raw material prices, particularly steel, pose a risk to production costs and profitability[64]. - The company is exposed to foreign exchange risks due to the depreciation of the RMB, and plans to use forward foreign exchange contracts to mitigate this risk[64]. - Inventory levels are increasing rapidly due to new business and product growth, prompting the company to implement stricter inventory management processes[65]. Compliance and Governance - There were no significant litigation or arbitration matters during the reporting period, indicating a stable legal environment for the company[79]. - The company has not engaged in any major asset or equity acquisitions or sales during the reporting period, reflecting a cautious approach to capital allocation[84]. - The company has not reported any major related party transactions during the reporting period, indicating a focus on independent operations[83]. - The company has not experienced any penalties or corrective actions during the reporting period, suggesting compliance with regulatory requirements[80]. Shareholder Information - The number of shareholders holding common stock at the end of the reporting period was 58,791[107]. - The largest shareholder, Lin Rujie, holds 26.75% of the shares, totaling 180,332,200 shares, with 135,249,150 shares being restricted[107]. - The total number of shares outstanding remains at 674,072,767 shares, with no overall change in the total[103]. Financial Reporting - The company's financial report for the first half of 2019 has not been audited, which may affect the reliability of the financial data presented[77]. - The semi-annual financial report was not audited, indicating that the figures presented are unaudited[123]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect a true and complete picture of its financial status[182].

Financial Performance - The company's operating revenue for 2018 was CNY 1,303,415,524.53, representing a 39.18% increase compared to CNY 936,529,778.28 in 2017[16] - The net profit attributable to shareholders was CNY 15,405,730.27, a significant turnaround from a net loss of CNY 58,893,258.96 in the previous year, marking a 126.16% improvement[16] - The basic earnings per share increased to CNY 0.02 from a loss of CNY 0.09 in 2017, reflecting a 122.22% increase[16] - The total assets at the end of 2018 were CNY 3,936,098,400.79, which is a 12.96% increase from CNY 3,481,740,811.54 at the end of 2017[18] - The weighted average return on equity improved to 0.69% from -2.63% in 2017, indicating a positive trend in profitability[16] - The net cash flow from operating activities was negative at CNY -7,399,302.23, worsening from CNY -1,456,045.92 in the previous year, a decline of 408.18%[16] - The net profit after deducting non-recurring gains and losses was CNY -15,603,524.37, an improvement of 81.52% from CNY -84,437,583.69 in 2017[16] - The company reported a total equity attributable to shareholders of CNY 2,253,984,466.46, which is a 1.82% increase from CNY 2,211,365,833.45 in 2017[18] Revenue Breakdown - The company's total revenue for the year was approximately ¥1,303,415,524.53, with a quarterly breakdown showing steady growth from ¥228,199,666.12 in Q1 to ¥406,198,001.56 in Q4, representing a 78.1% increase from Q1 to Q4[22] - The net profit attributable to shareholders for the year was ¥15,405,030.27, with significant fluctuations across quarters, peaking at ¥8,817,370.80 in Q2 before dropping to ¥1,693,419.81 in Q4[22] - The net cash flow from operating activities improved significantly, with a positive cash flow of ¥97,134,223.11 in Q4, compared to a negative cash flow of ¥145,555,803.61 in Q1[22] Market Presence and Expansion - The company has established a strong market presence in the ice-making equipment sector, serving over 150 enterprises across more than 10 countries, indicating robust international expansion[28] - The company is actively involved in the cold chain logistics sector, providing advanced refrigeration solutions to major clients such as Cargill and Tyson Foods, which underscores its strategic focus on this growing market[30] - The company is positioned to benefit from the growth of the ice and snow sports industry, having completed several major projects in China and abroad, aligning with national initiatives to promote winter sports[33] - The company is expanding into the hydrogen energy sector, integrating core technologies through acquisitions in Sweden, Canada, and Japan, which positions it well for future growth in fuel cell technology[36] Research and Development - The company has maintained a strong focus on R&D, particularly in energy-efficient and environmentally friendly refrigeration technologies, which are expected to drive future product development and market competitiveness[32] - The company is actively developing hydrogen fuel cell technology and has established a hydrogen fuel cell engine laboratory[44] - Capitalized R&D investment increased by 34.43%, mainly for compressor and hydrogen fuel cell technology[64] Financial Management and Investments - The company’s long-term equity investments decreased by 15.49%, primarily due to a provision for impairment of 2.99 million yuan[37] - The company’s receivables increased by 31.19%, attributed to growth in business performance[37] - The company’s prepayments rose by 44.44%, driven by increased procurement of raw materials and semi-finished products[37] - The company expanded its investment properties by 211.81 million yuan, mainly from the conversion of office buildings[37] Inventory and Cash Flow Management - Inventory stood at ¥561,045,817.68, accounting for 14.25% of total assets, a slight decrease from 15.49% due to increased business volume[71] - The company’s operating cash flow net amount decreased by 408.18% year-on-year, primarily due to increased cash payments for goods and services[67] - The net cash increase in cash and cash equivalents was negative at approximately -¥28.45 million, an improvement of 54.95% compared to the previous year[67] Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 0.0686 per 10 shares, based on a total of 674,072,767 shares[6] - The company reported a cash dividend of 0.0686 yuan per share for 2018, totaling 4,624,139.18 yuan, which is 30.02% of the net profit attributable to shareholders[97] - The company commits to distributing at least 30% of the annual distributable profit in cash for the years 2018 to 2020[100] Governance and Compliance - The company has a strict governance structure in compliance with relevant laws and regulations, ensuring the protection of investor interests[163] - The company has maintained complete independence from its controlling shareholder in terms of business, personnel, assets, organization, and finance[176] - The company has established effective communication with regulatory authorities and investors, ensuring timely and accurate information disclosure[174] Employee and Management Structure - The total number of employees in the company is 2,787, with 731 in the parent company and 2,056 in major subsidiaries[157] - The company has established a training system focused on capability enhancement and talent reserve, conducting multiple training sessions in 2018[160] - The total remuneration for the chairman and general manager, Lin Rujie, is 356,700 RMB[156] Risks and Challenges - The company faces risks from intensified market competition, with plans to strengthen core competitiveness through technology research and project reserves[90] - The hydrogen fuel cell industry is subject to various risks from national policies and economic conditions, and the company will focus on monitoring macro policies and expanding product applications to minimize impacts[94] - The company anticipates foreign exchange rate fluctuations as it expands into emerging overseas markets and plans to adopt hedging strategies to mitigate risks[93]