Financial Performance - The company's operating revenue for 2021 was CNY 2,008,655,584.69, representing a 37.73% increase compared to CNY 1,458,378,294.45 in 2020[22]. - The net profit attributable to shareholders was a loss of CNY 113,281,446.55, an improvement of 37.45% from a loss of CNY 181,110,263.12 in the previous year[22]. - The net cash flow from operating activities was negative at CNY -98,676,089.70, a decline of 175.50% compared to CNY 130,697,145.38 in 2020[22]. - Total assets increased by 17.13% to CNY 4,635,662,103.84 at the end of 2021, up from CNY 3,957,656,162.89 at the end of 2020[22]. - The net assets attributable to shareholders rose by 25.56% to CNY 2,654,914,324.67, compared to CNY 2,114,417,311.58 in 2020[22]. - The company reported a basic earnings per share of CNY -0.1681, improving by 37.44% from CNY -0.2687 in the previous year[22]. - The weighted average return on equity was -5.52%, an improvement from -8.21% in 2020[22]. - The company reported a total of ¥33,125,776.62 in non-recurring gains for the year, compared to ¥3,811,345.88 in 2020[30]. - The company's total revenue for the year was approximately ¥1,787,846,352.03, representing a 43.52% increase compared to the previous year[54]. - The company reported a total operating cost of ¥1,090,659,490.32, which is a 56.00% increase compared to the previous year[56]. Business Operations and Strategy - The company has not made any changes to its main business since its listing[21]. - The company has become a leading player in the ice-making equipment industry, with a strong brand presence both domestically and internationally[34]. - The company is actively involved in energy-saving and carbon reduction projects across various industries, contributing to both economic and social benefits[35]. - The company is focusing on expanding its applications in cold chain logistics and petrochemical gas sectors, continuously innovating in green and energy-efficient technologies[50]. - The company is actively developing hydrogen energy technologies, including hydrogen fuel cells, and plans to accelerate the construction of hydrogen energy equipment manufacturing projects[101]. - The company aims to expand its technology and services in four key areas: cold chain logistics, industrial refrigeration, clean energy, and hydrogen power[97]. - The company is focusing on low-carbon development in the refrigeration industry, developing compressors suitable for various eco-friendly refrigerants, aligning with national industrial development directions[100]. Market Trends and Industry Insights - The demand for refrigeration compressors is increasing due to the national "carbon peak and carbon neutrality" goals, with new environmentally friendly refrigerants being adopted[35]. - The cold chain logistics sector is expected to see accelerated development, driven by government policies and infrastructure upgrades, enhancing the demand for cold chain equipment[36]. - The oil and gas service market is experiencing growth due to the increasing demand for integrated services and the rising prices of natural gas[37]. - The central air conditioning market is expanding due to the rapid development of new infrastructure projects, including data centers and smart cities[38]. - Hydrogen energy is becoming a crucial part of China's energy structure, aligning with the country's push for renewable energy development[39]. Research and Development - The company has over 300 patents and 500 key process technologies, positioning it as one of the few global companies with leading technologies in piston, screw, and centrifugal compressors[48]. - The company is actively developing new models of compressors, with several projects at various stages of design and testing, aimed at expanding the sales market[69]. - The company is focusing on the development of hydrogen fuel cell engine systems, with successful tests on buses and logistics vehicles[70]. - Research and development (R&D) investment amounted to 114,102,729.84 yuan, representing 5.68% of total revenue, down from 8.04% in 2020, indicating a decrease of 2.36 percentage points[74]. - The number of R&D personnel increased by 8.31% to 417, with the proportion of R&D personnel in the total workforce rising to 10.04%[70]. Financial Management and Governance - The company has established an independent financial accounting system and does not have any fund occupation by controlling shareholders[135]. - The company maintains a fully independent operational system without reliance on controlling shareholders[131]. - The company’s governance structure complies with legal and regulatory requirements without significant discrepancies[130]. - The company has established a salary management system that links compensation to job responsibilities and performance[163]. - The company has a complete asset structure and does not have any assets occupied by shareholders[133]. Risks and Challenges - The company faces risks from intensified market competition, increasing accounts receivable, and foreign exchange fluctuations, and is taking measures to mitigate these risks[107][108][109]. - Copper materials and components account for approximately 60% of the total material costs, making the company vulnerable to fluctuations in copper prices[110]. - The company is facing project delays due to the COVID-19 pandemic, impacting production, delivery, and sales revenue[111]. - The hydrogen fuel cell industry is subject to risks from national policies and economic conditions, prompting the company to monitor macro policies and industry trends closely[113]. Shareholder and Management Activities - The company did not propose any cash dividend distribution during the reporting period, despite having a positive profit available for distribution[165]. - The company held three shareholder meetings in 2021, with participation rates of 22.38%, 22.94%, and 22.55% respectively[137]. - The company’s supervisory board held 9 meetings in 2021 to review financial conditions and the compliance of management responsibilities[126]. - The company appointed Wang Qinglong as the new supervisor and vice general manager, while Huayonghong was dismissed for personal reasons[140]. - The total remuneration for directors, supervisors, and senior management amounted to 4.40 million CNY[150]. Compliance and Reporting - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[195]. - The company has not reported any significant environmental issues or administrative penalties[188]. - The company has not conducted any mergers or acquisitions during the reporting period[191]. - The current accounting firm is Dahua Certified Public Accountants, with an audit fee of 1.1 million yuan[199]. - The company did not face any delisting risks following the annual report disclosure[200].

Financial Performance - The company's revenue for Q3 2021 was CNY 472,158,236.42, representing a 30.06% increase compared to the same period last year[3]. - The net profit attributable to shareholders was CNY 494,179.02, a significant increase of 103.60% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -5,727,331.40, a decrease of 63.59% compared to the previous year[3]. - The company's basic earnings per share for the period was CNY 0.0007, up 103.43% year-on-year[3]. - The total operating revenue for the period reached CNY 1,292,325,179.97, an increase of 34.4% compared to CNY 961,774,690.21 in the previous period[18]. - The net loss for the period was CNY 34,050,121.82, an improvement from a net loss of CNY 45,994,737.58 in the same period last year[18]. - The company reported a basic and diluted earnings per share of -0.0414, compared to -0.0629 in the previous period[19]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,958,371,512.02, showing a slight increase of 0.02% from the end of the previous year[3]. - The total liabilities increased to CNY 1,838,020,647.98, compared to CNY 1,804,029,124.96 in the previous period[17]. - The total equity attributable to shareholders of the parent company decreased to CNY 2,086,839,408.77 from CNY 2,114,417,311.58[17]. Cash Flow - The company's cash flow from operating activities was CNY -96,499,534.99, reflecting a decrease of 70.67% year-to-date[3]. - Operating cash inflow for the current period was $1,437,102,188.34, an increase of 36.5% compared to $1,052,826,828.72 in the previous period[21]. - Net cash outflow from operating activities was -$96,499,534.99, worsening from -$56,541,498.19 in the previous period[21]. - Total cash outflow from operating activities was $1,533,601,723.33, an increase of 38.2% compared to $1,109,368,326.91 in the previous period[21]. - Cash received from sales of goods and services was $1,413,064,068.60, an increase of 37.9% from $1,024,653,336.25 in the previous period[21]. Investment and Financing Activities - The company reported a significant increase in investment income of 376.84%, amounting to CNY 2,656,699.02, due to the transfer of equity interests[11]. - Cash inflow from investment activities totaled $27,567,089.45, down 46.0% from $50,982,837.99 in the previous period[22]. - Cash inflow from financing activities was $783,642,822.93, a decrease of 7.6% compared to $847,954,437.83 in the previous period[22]. - The total cash paid for investments decreased by 54.23% to ¥25,800,000 compared to the previous period[12]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 69,041[12]. - The company has initiated a third employee stock ownership plan, with 5,508,400 shares held[12]. Operational Costs - The company's operating costs increased by 46.26% year-on-year, totaling CNY 1,106,655,208.86, primarily due to rising raw material prices[11]. - The total operating costs amounted to CNY 1,358,493,778.12, up 35.4% from CNY 1,003,872,194.34 in the prior period[18]. - Cash paid for purchasing goods and services was $1,126,871,104.10, an increase of 79.8% from $627,553,139.72 in the previous period[21]. Other Information - The company received approval from the China Securities Regulatory Commission for a non-public issuance of A-shares on October 11, 2021[14]. - Research and development expenses for the period were CNY 47,905,924.21, a decrease from CNY 54,559,744.52 in the previous period[18]. - The cash flow statement for the period is yet to be detailed, indicating potential areas for further analysis[20]. - The company has not reported any new product launches or significant market expansion strategies in this quarter[20].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥820,166,943.55, representing a 36.98% increase compared to ¥598,746,838.61 in the same period last year[21]. - The net profit attributable to shareholders was a loss of ¥28,405,060.38, slightly improved from a loss of ¥28,653,075.43 in the previous year, showing a 0.87% reduction in loss[21]. - The company achieved a revenue of 820,166,943.55 CNY, representing a year-on-year growth of 36.98% due to reduced impact from the pandemic and increased marketing efforts[32]. - The company reported a basic and diluted earnings per share of -¥0.0421, slightly better than -¥0.0425 in the same period last year, reflecting a 0.94% improvement[21]. - The company reported a net loss of CNY 11,091,118.09 in retained earnings, compared to a profit of CNY 18,622,995.43 in the previous period[124]. - The total comprehensive loss for the first half of 2021 was ¥33,968,884.27, compared to a loss of ¥31,309,492.78 in the first half of 2020[131]. - The company reported a total comprehensive income of CNY -31,309,492.78 for the current period, reflecting a decrease compared to the previous period[154]. Cash Flow - The net cash flow from operating activities improved significantly, reaching -¥23,298,834.54, compared to -¥167,158,610.45 in the same period last year, marking an 86.06% improvement[21]. - Cash received from sales of goods and services amounted to ¥900,410,388.35, a significant increase from ¥559,709,414.64 in the first half of 2020, reflecting improved cash flow from operations[137]. - The net cash flow from operating activities was -23,298,834.54 CNY, an improvement from -167,158,610.45 CNY in the previous period, indicating a significant reduction in cash outflow[138]. - Total cash inflow from operating activities reached 918,987,346.54 CNY, compared to 592,033,520.54 CNY in the same period last year, reflecting a year-over-year increase of approximately 55.1%[138]. - The company reported a total cash outflow of 942,286,181.08 CNY from operating activities, compared to 759,192,130.99 CNY in the previous period, marking an increase of 24.1%[138]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,913,723,856.79, a decrease of 1.11% from ¥3,957,656,162.89 at the end of the previous year[21]. - The total liabilities decreased to CNY 1,790,737,035.62 from CNY 1,804,029,124.96, indicating a reduction of approximately 0.73%[123]. - The total equity attributable to shareholders decreased to CNY 2,087,897,942.45 from CNY 2,114,417,311.58, reflecting a decline of about 1.25%[124]. - The company reported a decrease in cash and cash equivalents to ¥162,223,299.05, down from ¥306,009,620.62, primarily due to loan repayments[49]. - The company’s total liabilities at the end of the reporting period were CNY 2,087,897,942.45, maintaining a manageable debt level[150]. Research and Development - The company increased its R&D investment to 53,032,855.68 CNY, a rise of 27.50% year-on-year, reflecting a commitment to innovation[38]. - Research and development expenses were ¥31,690,527.68, slightly up from ¥31,528,980.93 in the first half of 2020, indicating continued investment in innovation[129]. Market and Sales - Revenue from the refrigeration equipment manufacturing segment was ¥545,411,534.49, accounting for 66.50% of total revenue, with a year-on-year growth of 43.02%[41]. - Domestic sales amounted to ¥723,574,309.13, which is 88.22% of total revenue, reflecting a significant increase of 44.86% from ¥499,501,731.00 in the previous year[41]. - The sales of compressors increased by 67.56% year-on-year, reaching ¥349,063,109.82, which accounted for 42.56% of total revenue[41]. - Revenue from oil and gas technology services was ¥189,689,688.02, contributing 23.13% to total revenue, with a year-on-year growth of 22.77%[41]. Risk and Challenges - The company faces risks from increased market competition, inventory growth, and rising raw material costs, particularly copper, which constitutes about 60% of total material costs[60][61][63]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in its financial reports[6]. Corporate Governance - The company did not sell any significant assets during the reporting period[56]. - The company did not sell any significant equity during the reporting period[57]. - There were no significant lawsuits or arbitration matters during the reporting period, with the company having no major litigation issues[84]. - The company has not engaged in any major related party transactions during the reporting period[86]. - The company has not undergone any bankruptcy reorganization during the reporting period[82]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 67,174[109]. - The largest shareholder, Lin Rujie, holds 21.75% of the shares, totaling 146,628,500 shares, with 22,810,650 shares pledged[109]. - The company did not conduct any repurchase transactions among the top 10 shareholders during the reporting period[110]. Compliance and Regulations - The semi-annual financial report for the company has not been audited[81]. - The company received feedback from the China Securities Regulatory Commission regarding its non-public issuance of A shares on July 19, 2021[103]. - The company has no significant environmental protection issues and is not listed as a key pollutant discharge unit[75].

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].