顾地科技股份有限公司 2021 年第三季度报告 证券代码：002694 证券简称：顾地科技 公告编号：2021-028 顾地科技股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重 大遗漏。 重要内容提示: 1、董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在 虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2、公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告 中财务信息的真实、准确、完整。 3、第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 本报告期比上年同期增减 | 年初至报告期末 | 年初至报告期末比上年同期增减 | | --- | --- | --- | --- | --- | | 营业收入（元） | 414,543,050.02 | 9.55% | 1,123,513,593.57 | 16.52% | | 归属于上市公司股东的 | ...

Financial Performance - The company's operating revenue for the first half of 2021 was ¥708,970,543.55, representing a 21.03% increase compared to ¥585,791,331.90 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was -¥47,871,222.21, a decrease of 121.90% from -¥21,573,266.96 in the previous year[21]. - The net cash flow from operating activities was -¥18,981,809.58, which is a significant decline of 283.82% compared to -¥4,945,451.22 in the same period last year[21]. - The basic earnings per share were -¥0.09, down 125.00% from -¥0.04 in the previous year[21]. - The company reported a significant decrease in financial expenses by 42.40%, amounting to ¥9,897,497.78, due to reduced interest expenses from loan repayments[34]. - The company reported a net loss of CNY 81,779,164.98 for the period, compared to a loss of CNY 33,907,942.77 at the end of 2020[119]. - The net profit for the first half of 2021 was CNY 12,170,795.63, a significant recovery from a net loss of CNY 10,813,094.38 in the same period of 2020[130]. - The company reported a total profit of CNY 12,358,822.47, recovering from a total loss of CNY 13,255,541.52 in the same period last year[130]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,419,709,749.93, a decrease of 2.06% from ¥2,470,637,165.03 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company decreased by 6.48% to ¥690,587,037.55 from ¥738,458,259.76 at the end of the previous year[21]. - The company's cash and cash equivalents decreased by 2.14% to 34,207,730.76, attributed to a reduction in net cash from operating activities[40]. - Total liabilities stood at CNY 1,690,693,983.40, which is nearly unchanged from CNY 1,690,094,277.69 at the end of 2020[118]. - The company's total liabilities increased, reflecting ongoing investments and financing strategies to support growth initiatives[138]. Revenue Segments - The plastic manufacturing segment accounted for 99.87% of total revenue, generating ¥708,022,560.16, with PVC pipes contributing ¥454,869,589.48, a 32.66% increase year-on-year[36]. - The sports events and cultural tourism segment saw a remarkable growth of 100.97%, generating ¥947,983.39 compared to ¥471,698.11 in the previous year[36]. Research and Development - Research and development expenses rose by 30.07% to ¥26,964,857.09, reflecting increased investment in R&D projects[34]. - The company has a robust R&D team with nearly 100 high-level professionals and has published around 400 academic papers, showcasing its technical strength[30]. - The company has been recognized as a national high-tech enterprise, reinforcing its competitive advantage in the plastic pipe industry[30]. Cash Flow Management - The company's operating cash flow turned negative at -¥18,981,809.58, a decline of 283.82% from -¥4,945,451.22 in the previous year, primarily due to increased raw material procurement expenses[34]. - The cash flow from operating activities showed a negative trend, impacting the overall financial health of the company[126]. - The total cash inflow from operating activities was CNY 744,779,400.33, compared to CNY 630,739,263.62 in the first half of 2020, indicating an increase of approximately 18%[134]. Legal and Regulatory Issues - The company reported a significant lawsuit involving Zhejiang Precision Steel Structure Group with a claim amount of CNY 30,743.76 million, currently under court review[76]. - The company’s subsidiary, Alashan League Dream Car Culture Tourism Development Co., Ltd., is involved in multiple lawsuits, with a total claim amount of CNY 200,466.56 million, including a breach of contract claim for CNY 172,466.56 million and a penalty of CNY 28 million[77]. - The company has disclosed potential uncertainties regarding its ability to continue as a going concern due to the legal and financial issues surrounding its subsidiary[74]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 27,167[104]. - The largest shareholder, Shanxi Shengnong Investment Co., Ltd., holds 26.02% of the shares, with 155,413,920 shares pledged[104]. - The company has a total of 597,196,800 shares outstanding, with 88.74% being unrestricted shares[101]. Environmental and Social Responsibility - The company has maintained a zero-accident record in environmental protection and has not faced any government penalties related to environmental issues[66]. - The company emphasizes sustainable development and adheres to national policies while fulfilling social responsibilities[65]. Financial Reporting and Compliance - The company's half-year financial report has not been audited[73]. - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring compliance and accuracy[166]. - The company’s accounting policies are tailored to its operational characteristics, impacting areas such as receivables and inventory valuation[168].

Financial Performance - Guodi Technology reported significant operational challenges due to lawsuits and financial issues related to its wholly-owned subsidiary, Alashan League Dream Car Culture Tourism Development Co., Ltd, which has led to frozen bank accounts and asset seizures[5]. - The company plans to not distribute cash dividends or issue bonus shares for the year[7]. - The company has not disclosed specific financial metrics or performance indicators in the provided documents[14]. - The company's operating revenue for 2020 was ¥1,428,821,038.93, a decrease of 12.90% compared to ¥1,640,363,485.98 in 2019[21]. - The net profit attributable to shareholders was -¥248,990,846.48, representing a significant decline of 2,431.91% from a profit of ¥10,677,564.93 in 2019[21]. - The net cash flow from operating activities was ¥204,874,547.08, down 14.78% from ¥240,393,657.98 in the previous year[21]. - The basic and diluted earnings per share were both -¥0.45, a decrease of 2,350.00% from ¥0.02 in 2019[21]. - The total assets at the end of 2020 were ¥2,470,637,165.03, a reduction of 15.27% from ¥2,915,772,272.39 at the end of 2019[21]. - The net assets attributable to shareholders decreased by 25.22% to ¥738,458,259.76 from ¥987,449,106.24 in 2019[21]. - The company reported a quarterly operating revenue of ¥464,613,932.29 in Q4 2020, with a net profit attributable to shareholders of -¥216,051,677.61[25]. - The company achieved a total revenue of CNY 1.43 billion in 2020, a decrease of 12.09% from CNY 1.64 billion in 2019[36]. - The net profit attributable to shareholders was CNY -249 million in 2020[36]. - The plastic manufacturing segment generated CNY 1.43 billion, accounting for 99.78% of total revenue, with a year-on-year decline of 9.63%[40]. - The sports and cultural tourism segment's revenue plummeted by 95.03% to CNY 3.11 million[40]. - The company produced over 150,000 tons of pipes in 2020, despite challenges posed by the pandemic[36]. Operational Challenges - Guodi Technology's business faces intensified industry competition and risks from raw material price fluctuations[6]. - The company emphasizes that future plans and development strategies do not constitute substantial commitments to investors, highlighting the uncertainty in achieving 2021 profit forecasts[6]. - The company’s future operational capabilities may be impacted by ongoing legal and financial uncertainties surrounding its subsidiary[6]. - The company reported significant losses in several subsidiaries, including a net loss of CNY 9,127,433.8 from Gansu Guddi Plastic Co., Ltd.[64]. - The company’s major subsidiary, Alashan Meng Dream Auto Culture Tourism Development Co., Ltd., is involved in multiple lawsuits, leading to frozen bank accounts and asset seizures, which may impact the company's ongoing operations[81]. - The board of directors acknowledged the emphasis on the audit report regarding the subsidiary's financial difficulties and plans to improve operational management and resolve legal disputes[82]. - The company plans to negotiate with financial institutions to address the funding shortages faced by its subsidiary and seek government support for recovery[81]. - The company has faced significant legal challenges with its subsidiary, which may impact its operational capacity, but it asserts that there is no substantial doubt about its ability to continue as a going concern[120]. Corporate Governance - The board of directors and management have confirmed the accuracy and completeness of the annual report, taking legal responsibility for its content[4]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[79]. - The company has implemented changes in accounting policies regarding revenue recognition, aligning with new guidelines from the Ministry of Finance[83]. - The company has retained the same accounting firm, Zhongqin Wanxin, for 12 years, with an audit fee of 1.2 million yuan[87]. - The company has established a comprehensive internal control system and governance structure in compliance with relevant laws and regulations, ensuring effective operation and information disclosure[165]. - The company has maintained independent operations and decision-making capabilities, with no interference from the controlling shareholder in business operations[165]. - The company has three independent directors, constituting one-third of the board, complying with legal and regulatory requirements[166]. - The company has established an independent financial accounting department, ensuring a complete and standardized financial management system[170]. - The company has committed to avoiding any business competition with its controlling shareholders, ensuring operational independence[171]. - The company has actively communicated and conducted board meetings primarily through remote means due to the COVID-19 pandemic[177]. Employee Management - The company has a total of 1,903 employees, with 595 in the parent company and 1,308 in major subsidiaries[156]. - The professional composition includes 1,184 production personnel, 232 sales personnel, 156 technical personnel, 39 financial personnel, and 292 administrative personnel[157]. - The company implements a performance-based salary system, linking employee income directly to individual performance contributions[158]. - The company provides comprehensive employee benefits, including various insurances and housing funds[158]. - The company has established training programs for employees across various departments, focusing on safety, quality control, and operational standards[161][162]. - The company has prioritized employee health and safety training, ensuring compliance with occupational health regulations[161]. - The company has implemented a performance evaluation system to enhance employee benefits and ensure shared growth[114]. Future Outlook - The company expects a 20% increase in annual revenue compared to the previous year[66]. - The company plans to optimize marketing strategies and expand sales channels to enhance performance[66]. - The company aims to improve product competitiveness through technological innovation and equipment upgrades[66]. - The company is expected to continue its market expansion and product development strategies in the upcoming fiscal year[143]. - The company is likely to pursue new product development and market strategies under the new leadership, aiming for growth in competitive sectors[149]. Audit and Compliance - The audit opinion issued was a clean report with emphasis on matters related to a subsidiary facing multiple lawsuits and financial difficulties[188]. - The company reported no significant internal control deficiencies during the reporting period[180]. - There were no major defects in financial reporting or non-financial reporting identified[181]. - The company has disclosed its plans to address the financial issues faced by its subsidiary in the financial statement notes[188]. - The provision for bad debts for accounts receivable and other receivables was identified as a key audit matter due to its significance in the financial statements[191].

Financial Performance - The company's revenue for Q1 2021 was ¥283,036,640.87, representing a 95.96% increase compared to ¥144,432,911.71 in the same period last year[7]. - Operating revenue for Q1 2021 increased by ¥138,603,729.16, a growth of 95.96% compared to the same period in 2020, primarily due to a low base effect from the previous year[7]. - Total operating revenue for Q1 2021 was CNY 283,036,640.87, a significant increase from CNY 144,432,911.71 in the previous period[52]. - The net profit attributable to shareholders was -¥25,287,391.99, an improvement of 27.98% from -¥35,113,019.53 year-over-year[7]. - The net loss for Q1 2021 was CNY 28,167,482.28, an improvement from a net loss of CNY 40,248,612.86 in the previous year[54]. - The company reported a total comprehensive loss of CNY 28,167,482.28 for Q1 2021, compared to a loss of CNY 40,248,612.86 in the previous year[55]. - The total comprehensive income for the first quarter was -11,178,541.96 CNY, compared to -12,233,705.86 CNY in the previous period, indicating an improvement[59]. Cash Flow - The net cash flow from operating activities improved by 50.23%, reaching -¥29,585,683.33 compared to -¥59,449,770.21 in the previous year[7]. - Cash inflow from operating activities amounted to 317,921,822.20 CNY, up from 192,753,151.79 CNY in the previous period, reflecting a significant increase of approximately 65%[61]. - Cash outflow from operating activities was 347,507,505.53 CNY, compared to 252,202,922.00 CNY in the previous period, resulting in a net cash flow from operating activities of -29,585,683.33 CNY, an improvement from -59,449,770.21 CNY[62]. - Cash received from sales and services in Q1 2021 increased by ¥139,145,593.23, an increase of 80.49%, due to higher revenue and concentrated collections from credit sales[17]. - There was a notable increase in cash received from sales of goods and services, totaling 312,024,979.01 CNY, compared to 172,879,385.78 CNY in the previous period, marking an increase of approximately 80%[61]. - Cash paid for purchasing goods and services in Q1 2021 rose by ¥88,648,242.38, a 50.46% increase, driven by higher sales leading to increased procurement payments[19]. - Cash paid to employees in Q1 2021 increased by ¥9,715,147.08, a rise of 32.76%, due to increased production leading to higher direct wages[20]. - Cash paid for taxes in Q1 2021 decreased by ¥6,533,727.18, a reduction of 41.70%, primarily due to lower tax liabilities[21]. - Cash paid for fixed asset acquisitions in Q1 2021 increased by ¥5,052,869.84, a significant rise of 365.41%, due to higher payments for fixed asset purchases[22]. - Cash received from financing activities in Q1 2021 decreased by ¥17,813,380.82, a reduction of 44.74% compared to Q1 2020, primarily due to a decrease in financing activities[25]. - Cash paid for debt repayment in Q1 2021 decreased by ¥104,700,000.00, a reduction of 96.94% compared to Q1 2020, mainly due to a decrease in loan repayments during the period[25]. - Cash paid for dividends, profits, or interest in Q1 2021 decreased by ¥2,657,062.55, a reduction of 85.69% compared to Q1 2020, primarily due to a decrease in interest payments on loans[25]. - Cash paid for other financing activities in Q1 2021 increased by ¥11,360,435.59, an increase of 81.22% compared to Q1 2020, mainly due to an increase in cash payments related to financing activities[25]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,504,111,136.21, a 1.35% increase from ¥2,470,637,165.03 at the end of the previous year[7]. - The company's total liabilities amounted to CNY 681,758,935.69, slightly up from CNY 678,310,612.07 in the previous period[50]. - Total liabilities reached CNY 1,751,735,731.15, compared to CNY 1,690,094,277.69, reflecting an increase of about 3.6%[46]. - The company's equity attributable to shareholders decreased to CNY 713,170,867.77 from CNY 738,458,259.76, a decline of approximately 3.4%[47]. - The total equity decreased to CNY 956,958,987.88 from CNY 968,137,529.84, reflecting a decline of about 1.8%[50]. - The company's current assets totaled CNY 817,195,221.15, up from CNY 761,977,766.95, indicating an increase of about 7.2%[44]. - Cash and cash equivalents decreased to CNY 49,625,963.69 from CNY 87,663,844.30, representing a decline of approximately 43.3%[44]. - Accounts receivable rose to CNY 216,907,245.46 from CNY 208,580,618.15, showing an increase of about 4.0%[44]. - Inventory increased to CNY 336,267,629.44 from CNY 308,922,363.51, marking a growth of approximately 8.8%[44]. - The company experienced a decrease in undistributed profits from CNY 128,796,437.59 to CNY 117,617,895.63, a decline of approximately 8.3%[50]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 28,387[10]. - The top shareholder, Shanxi Shengnong Investment Co., Ltd., held 26.02% of the shares, totaling 155,414,292 shares[10]. Research and Development - R&D expenses for Q1 2021 increased by ¥4,591,275.27, reflecting an 86.58% rise compared to the same period last year, driven by higher investment in R&D projects[10]. - Research and development expenses for Q1 2021 were CNY 9,894,023.82, an increase of 86.5% compared to CNY 5,302,748.55 in the previous year[53]. Legal Matters - The company is involved in a legal dispute regarding a construction contract, with a claim for payment of ¥240,544,286.00 and associated penalties[26]. - The company has a court-ordered asset freeze on properties valued at ¥301,905,775.00 as part of ongoing litigation[27]. - The company has agreed to a payment schedule for outstanding construction payments totaling ¥69,256,615.78, with specific amounts due in 2021 through 2024[29]. Compliance and Auditing - The company has not yet audited the first quarter report, which may affect the reliability of the financial data presented[68]. - The company has not applied the new leasing standards for the first quarter, indicating a potential area for future compliance adjustments[67]. - There were no instances of non-compliance with external guarantees or misuse of funds by major shareholders during the reporting period[37][38]. - The company did not engage in any significant contracts or financial management activities during the reporting period[39][40]. Earnings Per Share - Basic and diluted earnings per share for Q1 2021 were both -CNY 0.05, compared to -CNY 0.06 in the same period last year[55]. - The basic earnings per share and diluted earnings per share figures were not provided in the report[59].

Financial Performance - Guodi Technology reported significant operational challenges due to lawsuits and financial difficulties faced by its wholly-owned subsidiary, Alashan League Dream Car Culture Tourism Development Co., Ltd., which has led to frozen bank accounts and asset seizures[4]. - The company plans to not distribute cash dividends or issue bonus shares for the year[6]. - The company's operating revenue for 2020 was ¥1,428,821,038.93, a decrease of 12.90% compared to ¥1,640,363,485.98 in 2019[6]. - The net profit attributable to shareholders was -¥248,990,846.48, representing a significant decline of 2,431.91% from a profit of ¥10,677,564.93 in 2019[6]. - The net cash flow from operating activities was ¥204,874,547.08, down 14.78% from ¥240,393,657.98 in the previous year[6]. - The basic and diluted earnings per share were both -¥0.45, a decrease of 2,350.00% from ¥0.02 in 2019[6]. - Total assets at the end of 2020 were ¥2,470,637,165.03, a reduction of 15.27% from ¥2,915,772,272.39 at the end of 2019[6]. - The net assets attributable to shareholders decreased by 25.22% to ¥738,458,259.76 from ¥987,449,106.24 in 2019[6]. - The company reported a significant impairment of intangible assets amounting to ¥34,740,000 during the reporting period[28]. - The company reported a net profit available for distribution to ordinary shareholders, but did not propose any cash dividend distribution plan for the reporting period[74]. - The company plans not to distribute cash dividends, issue bonus shares, or convert capital reserves into share capital for the fiscal year[75]. Operational Challenges - Guodi Technology's business pipeline is facing intensified industry competition and risks related to raw material price fluctuations[5]. - The company emphasizes that future plans and development strategies do not constitute substantial commitments to investors, highlighting the uncertainty in achieving 2021 profit forecasts[5]. - The company has not disclosed specific financial performance metrics in the provided documents, indicating a need for further analysis in the full report[12]. - The company has not provided specific user data or metrics in the available documents, which may be critical for assessing market performance[12]. - The company has undergone changes in its business scope, now including the production and sales of various types of plastic pipes and water treatment equipment[17]. - The company has established a structured financial guarantee system to improve fund utilization[67]. - The company is committed to enhancing internal management and risk prevention measures[67]. - The company aims to resolve litigation issues and improve operational efficiency for the subsidiary to enhance overall business performance[79]. Market Presence and Strategy - The company has established a strong brand presence in the plastic pipe industry, with products certified under multiple quality and environmental standards[30]. - The company has a comprehensive marketing network covering all 31 provinces in China and has expanded its reach to Central Asia, Southeast Asia, and Africa[30]. - The company has been recognized as a national high-tech enterprise, reflecting its strong research and development capabilities[30]. - The company implemented a performance assessment mechanism for sales personnel, enhancing employee motivation and responsibility[34]. - The company expects a 20% increase in annual revenue compared to the previous year[65]. - The company plans to optimize its marketing strategy and expand sales channels to enhance performance[66]. - The company aims to improve product competitiveness through innovation and technology upgrades[66]. - The company emphasizes safety production and quality management to enhance product quality[66]. - The company is focused on cost control and financial management to ensure stable operations[67]. Governance and Management - The company has retained the same accounting firm, Zhongqin Wanxin, for 12 years, with an audit fee of 1.2 million yuan for the current period[85]. - The company has established a performance evaluation mechanism for senior management based on annual targets set by the board of directors[177]. - The company has a structured management team with clear roles, which may enhance operational efficiency and strategic execution[145]. - The company is focusing on enhancing its governance structure following the recent changes in its board and management[142]. - The company is committed to transparency and effective communication with stakeholders during this transition period[142]. - The company has a diverse board with members holding significant experience in various industries, which may contribute to better strategic decision-making[147]. - The company has appointed independent directors with strong backgrounds in finance and law, which may improve governance and compliance[149]. - The company has established an independent financial accounting department, ensuring complete control over its financial decisions and tax obligations[168]. - The company has a complete and independent business system, with no reliance on the controlling shareholder for operations[169]. Employee and Corporate Culture - The total number of employees in the company is 1,903, with 595 in the parent company and 1,308 in major subsidiaries[154]. - The professional composition includes 1,184 production personnel, 232 sales personnel, 156 technical personnel, 39 financial personnel, and 292 administrative personnel[155]. - The company has implemented a performance-based salary system, linking employee income directly to individual performance contributions[156]. - The company provides comprehensive employee benefits, including various insurances and allowances, as well as well-equipped dormitories[156]. - The company has a training plan that includes safety operation regulations and ERP operation training for various departments[157]. - The company has focused on improving its quality management system and enhancing service management standards[160]. - The company has engaged in ongoing investor relations management to strengthen communication with stakeholders[163]. Legal and Compliance Issues - The company has faced significant legal challenges with its subsidiary, which may impact its operational continuity[118]. - The audit opinion for the financial statements was a clean opinion with an emphasis on the ongoing litigation and financial difficulties faced by a key subsidiary, Dream Car Culture Tourism Development Co., Ltd.[186]. - The company confirmed that there were no public bonds issued that were overdue or unable to be fully repaid as of the annual report approval date[182]. - The company has adhered to all relevant laws and regulations regarding labor and corporate governance[112]. - The company has confirmed that there are no significant discrepancies between its governance practices and regulatory requirements[166].

Financial Performance - Operating revenue for the reporting period was CNY 378,415,774.74, down 16.06% year-on-year [7]. - Net profit attributable to shareholders was a loss of CNY 11,365,901.91, representing a decline of 141.57% compared to the same period last year [7]. - Basic earnings per share were -CNY 0.02, a decrease of 140.00% year-on-year [7]. - The net profit for Q3 2020 was a loss of CNY 14,156,108.47, compared to a profit of CNY 27,117,418.88 in the same period last year [62]. - The company reported a comprehensive income total of CNY -14,156,108.47, down from CNY 27,117,418.88 in the previous year [63]. - Basic and diluted earnings per share for Q3 2020 were both CNY -0.02, compared to CNY 0.05 in the previous period [63]. - The net profit for the third quarter was a loss of ¥38.02 million, compared to a loss of ¥4.55 million in the previous year, indicating a significant decline in profitability [70]. - The company reported a total comprehensive loss of ¥38.02 million for the quarter, compared to a comprehensive income of ¥4.26 million in the previous year [71]. Cash Flow - The net cash flow from operating activities was CNY 36,628,126.87, a decrease of 11.84% compared to the previous year [7]. - Cash received from operating activities decreased by ¥87,366,912.80, a reduction of 56.62% compared to the same period in 2019, mainly due to a decrease in receivables [21]. - Cash received from financing activities increased by ¥192,969,353.56, an increase of 433.96% compared to the same period in 2019, primarily due to increased financing activities [22]. - The net cash flow from operating activities for Q3 2020 was ¥31,682,675.65, a decrease of 27.5% compared to ¥43,683,731.92 in Q3 2019 [78]. - Total cash inflow from operating activities was ¥1,100,012,082.54, down 20.1% from ¥1,377,487,246.75 in the previous year [78]. - The net cash flow from investing activities was -¥8,382,019.40, worsening from -¥3,178,099.40 in the same period last year [79]. - Cash inflow from financing activities was ¥515,744,537.89, an increase of 82.0% compared to ¥284,057,184.33 in Q3 2019 [79]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,845,783,724.65, a decrease of 2.40% compared to the end of the previous year [7]. - The company's current assets totaled CNY 1,004,732,219.69, slightly down from CNY 1,013,294,116.83 at the end of 2019, with cash and cash equivalents decreasing from CNY 134,241,427.75 to CNY 37,818,088.23 [53]. - The total liabilities decreased from CNY 1,837,447,790.77 to CNY 1,805,483,019.09, with current liabilities accounting for CNY 1,750,989,918.01 [55]. - The company reported a significant reduction in short-term borrowings from CNY 340,763,835.23 to CNY 228,034,820.79 [54]. - Total liabilities decreased to CNY 762,263,386.11 from CNY 812,074,893.37 [61]. - Total equity decreased to CNY 947,618,929.12 from CNY 962,981,083.78 [61]. Operational Changes - Cash and cash equivalents decreased by CNY 96,423,339.52, a reduction of 71.83% due to repayment of bank loans [15]. - Accounts receivable notes decreased by CNY 4,786,315.56, down 48.06% due to a reduction in received notes [15]. - Prepayments increased by CNY 36,586,817.13, an increase of 98.02% due to increased raw material reserves [15]. - The company did not conduct any repurchase transactions among the top 10 shareholders during the reporting period [12]. - The company did not engage in any non-operational fund occupation by controlling shareholders or related parties during the reporting period [49]. Tax and Expenses - Tax payable increased by ¥11,852,267.64 as of September 30, 2020, an increase of 39.59% compared to December 31, 2019, primarily due to increased tax expenses [16]. - The income tax expense for the first nine months of 2020 increased by CNY 5,493,786.97, representing a 1195.48% increase compared to the same period in 2019, primarily due to a decrease in the provision for deferred tax assets [27]. - Research and development expenses were CNY 12,564,205.19, slightly down from CNY 13,915,488.58 [61]. - The company incurred a tax expense of ¥10.31 million, up from ¥5.59 million in the previous year [70]. Future Outlook - The company has not provided specific guidance or outlook for future performance in the report [51]. - The company has ongoing construction projects with a value of CNY 636,193,958.09, indicating future growth potential [85].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥585,791,331.90, a decrease of 16.09% compared to ¥698,153,988.36 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of ¥21,573,266.96, an improvement of 10.97% from a loss of ¥23,078,814.34 in the previous year[18]. - The net cash flow from operating activities was a negative ¥4,945,451.22, a decline of 123.13% compared to a positive cash flow of ¥21,385,254.99 in the same period last year[18]. - The company's total sales revenue for the first half of 2020 was 585.79 million yuan, a decrease of 112.36 million yuan or 16.05% compared to 698.15 million yuan in the same period last year, primarily due to the impact of the pandemic on pipeline business sales[33]. - The net profit attributable to shareholders of the listed company for the first half of 2020 was -21.57 million yuan[33]. - The gross profit margin for the plastic pipe and fittings industry was 19.60%, a slight increase of 1.71% compared to the previous year[41]. - The revenue from PVC pipes was CNY 342,886,139.57, a decrease of 21.60% compared to CNY 437,344,508.52 in the previous year[41]. - The revenue from the sports events industry was CNY 471,698.11, a decrease of 6.43% compared to CNY 504,115.78 in the previous year[41]. - The company reported a net loss of -10,813,094.38 for the current period, highlighting a worsening financial performance compared to the previous period[163]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,909,226,919.44, a slight decrease of 0.22% from ¥2,915,772,272.39 at the end of the previous year[18]. - The total liabilities increased to CNY 836,966,090.45 from CNY 812,074,893.37, marking a rise of 3.1%[132]. - The company's total liabilities were CNY 1,854,770,105.41, compared to CNY 1,837,447,790.77 at the end of 2019, indicating an increase in liabilities[127]. - Cash and cash equivalents at the end of the period decreased by 29.66 million yuan, a reduction of 22.10%, mainly due to a decrease in operating income[27]. - Cash and cash equivalents decreased to CNY 104,579,019.71 from CNY 134,241,427.75, representing a decline of about 22.1%[125]. - Accounts receivable increased by 40.30 million yuan, an increase of 13.66%, primarily due to the expansion of municipal product sales and longer payment terms[27]. - Accounts receivable increased to CNY 335,264,782.04 from CNY 294,966,892.79, showing an increase of approximately 13.7%[125]. - The total equity attributable to shareholders was CNY 965,875,839.28, down from CNY 987,449,106.24 at the end of 2019, reflecting a decrease of approximately 2.5%[128]. Operational Strategies - The company plans to focus on optimizing marketing strategies and expanding sales channels in the second half of 2020[34]. - The company aims to enhance internal management and cost control to achieve stable growth in performance[34]. - The company has established a joint venture for sports events and a wholly-owned subsidiary for cultural tourism related to sports events[26]. Legal and Compliance Issues - The company is involved in several ongoing legal disputes, including a contract dispute with Shanghai Zhancheng Cultural Media Co., amounting to a claim of CNY 227,660.50[63]. - A court ruling has frozen assets worth CNY 30 million related to a contract dispute involving the company's subsidiary, with a payment agreement reached for CNY 10,139,185 to be paid in six installments[63]. - The company has a pending payment of CNY 240,544,286 related to another engineering contract dispute, with additional claims for late payment penalties and damages[63]. - The company has reached a settlement in another case, agreeing to pay CNY 13.6 million in six installments, with the first payment due by May 30, 2020[64]. - The company is actively working on restructuring its tourism subsidiary to address financial constraints and improve project development[65]. Shareholder and Equity Information - The company has implemented a restricted stock incentive plan, granting 27.648 million shares to 31 incentive objects, including directors and key personnel[75]. - The company distributed cash dividends of 0.12 yuan per 10 shares, totaling 4,478,976 yuan, based on a total share capital of 373,248,000 shares[76]. - The total number of shareholders at the end of the reporting period was 33,235[107]. - The largest shareholder, Shanxi Shengnong Investment Co., Ltd., held 26.02% of the shares, totaling 155,414,292 shares, with a pledge of 155,413,920 shares[107]. Financial Reporting and Audit - The semi-annual financial report for the company has not been audited[61]. - The financial statements were prepared based on the assumption of going concern, with no significant matters affecting the ability to continue operations identified within 12 months from the reporting period end[183]. - The company adheres to the accounting policies and estimates in accordance with the relevant accounting standards, including provisions for bad debts and inventory accounting methods[184]. Market and Industry Context - The company operates in the plastic pipe manufacturing and cultural tourism industries, with products widely used in municipal and construction water supply, agricultural water, and gas transmission[26]. - The company has established a strong brand presence in the plastic pipeline industry, with significant market recognition for its "Gu Di" and "De Yi" brands[29]. - The company faced no penalties or rectification issues during the reporting period[74].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥585,791,331.90, a decrease of 16.09% compared to ¥698,153,988.36 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of ¥21,573,266.96, an improvement of 10.97% from a loss of ¥23,078,814.34 in the previous year[18]. - The company reported a total sales revenue of 585.79 million yuan for the first half of 2020, a decrease of 112.36 million yuan or 16.05% compared to 698.15 million yuan in the same period last year, primarily due to the impact of the pandemic on pipeline business sales[33]. - The company reported a total revenue of 1,375.85 million CNY for the first half of 2020[73]. - The total comprehensive income for the first half of 2020 was -¥10.81 million, a stark contrast to the comprehensive income of ¥24.74 million in the first half of 2019[139]. - The total comprehensive income for the period was -23,078,814.34, compared to -8,593,550.50 in the previous period, indicating a decline of approximately 168.5%[156]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥4,945,451.22, a decline of 123.13% compared to a positive cash flow of ¥21,385,254.99 in the same period last year[18]. - Cash and cash equivalents decreased by 29.66 million yuan, a reduction of 22.10%, mainly due to a decrease in operating income[27]. - Cash and cash equivalents decreased significantly to CNY 39.45 million from CNY 73.14 million, a decline of 46.0%[130]. - The cash flow from operating activities was significantly negative, highlighting potential operational challenges[146]. - The total cash and cash equivalents at the end of the period decreased to 6,528,718.03 from 19,465,317.33 year-over-year[146]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,909,226,919.44, a slight decrease of 0.22% from ¥2,915,772,272.39 at the end of the previous year[18]. - The company's total liabilities were reported at CNY 1,854,770,105.41, compared to CNY 1,837,447,790.77 at the end of 2019, indicating an increase in liabilities[126][127]. - Accounts receivable increased by 40.30 million yuan, an increase of 13.66%, primarily due to the expansion of municipal product sales with longer payment terms[27]. - The company's inventory increased by 8.86 million yuan, an increase of 2.73%, mainly due to a decline in sales volume[27]. - The company's total current liabilities of CNY 1,804,788,456.97, which is an increase from CNY 1,786,744,694.37 at the end of 2019[126]. Shareholder and Equity Information - The company did not distribute cash dividends or issue bonus shares for this reporting period[6]. - The total equity attributable to the parent company decreased to CNY 965,875,839.28 from CNY 987,449,106.24, a decline of about 2.2%[127]. - The company reported a total of 75,508,247 limited sale shares before the change, with 7,572,630 shares released during the period[104]. - The number of shareholders holding more than 5% of ordinary shares includes Shanxi Shengnong Investment Co., Ltd. with 26.02% (155,414,292 shares) and Zhang Zhenguo with 4.82% (28,757,594 shares) as of the report date[106]. Operational Challenges and Strategic Focus - The ongoing COVID-19 pandemic has adversely affected the company's production and financial status, with potential long-term implications[54]. - The company plans to focus on optimizing marketing strategies and expanding sales channels in the second half of 2020[34]. - The company aims to enhance product quality and safety management while strengthening internal management and cost control[34]. - The company is actively seeking to resolve legal disputes and improve the financial situation of its subsidiary to ensure sustainable operations[56]. Legal and Compliance Issues - The company has ongoing litigation involving a total claim of 240,544,286.00 CNY for construction contract disputes[64]. - The company has reached a settlement to pay 10,139,185 CNY in six installments for a contract dispute, with the first payment due by May 30, 2020[64]. - The company is committed to not engaging in competitive businesses with its subsidiaries as per the commitments made by its controlling shareholders[61]. - The company is actively pursuing legal actions to recover outstanding debts from various contracts[73]. Research and Development - R&D investment decreased by CNY 4,452,980.55, a reduction of 17.68%, attributed to reduced R&D activities during the pandemic[38]. - Research and development expenses decreased to ¥5.57 million in the first half of 2020 from ¥7.07 million in the same period of 2019, reflecting a reduction of 21.3%[137]. Corporate Governance and Management - The company experienced a change in its board of directors and management team, with several new appointments made on June 2, 2020[116][117]. - The company has not faced any penalties or corrective actions during the reporting period[75]. - The company has a strong focus on maintaining its integrity and compliance with regulations[76].

Revenue and Profit - Revenue for Q1 2020 was ¥144,432,911.71, a decrease of 50.92% compared to ¥294,259,416.68 in the same period last year[8] - Net profit attributable to shareholders was -¥35,113,019.53, a decline of 50.30% from -¥23,361,805.61 year-on-year[8] - In Q1 2020, the company's operating revenue decreased by CNY 50,804,577.50, a decline of 66.08% compared to the same period in 2019, primarily due to reduced sales volume caused by the pandemic[22] - The company reported a net loss for the first quarter of CNY 40,248,612.86, compared to a net loss of CNY 25,457,169.14 in the same period last year, representing an increase in losses[54] - The company reported a comprehensive loss of CNY 40,248,612.86 for the quarter, compared to a comprehensive loss of CNY 25,457,169.14 in the previous year[55] Cash Flow - Net cash flow from operating activities was -¥59,449,770.21, a significant decrease of 557.51% compared to ¥12,994,313.12 in the previous year[8] - The company's cash received from sales of goods and services in Q1 2020 decreased by CNY 210,656,312.32, a reduction of 54.92% year-on-year, mainly due to the impact of the pandemic on revenue[18] - Cash inflows from operating activities totaled CNY 192,753,151.79, a decrease from CNY 417,265,380.47 in the previous period[61] - The ending cash and cash equivalents balance decreased to 33,064,017.00 CNY from 39,761,505.22 CNY, indicating a decline in liquidity[63] - The net cash flow from financing activities was 12,856,502.37 CNY, recovering from a negative cash flow of -31,063,607.43 CNY in the previous period[63] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,032,935,593.89, an increase of 4.02% from ¥2,915,772,272.39 at the end of the previous year[8] - Total liabilities rose to CNY 1,994,859,725.13 from CNY 1,837,447,790.77, indicating an increase of about 8.56%[46] - Current liabilities totaled CNY 1,944,539,518.79, up from CNY 1,786,744,694.37, marking an increase of approximately 8.83%[46] - The total non-current assets amounted to CNY 1,876,400,537.51, down from CNY 1,902,478,155.56, indicating a decrease of approximately 1.38%[49] - Total cash outflow from operating activities reached 62,567,543.86 CNY, down from 102,361,839.68 CNY, indicating a reduction in operational costs[65] Accounts and Receivables - Accounts receivable increased by ¥8,482,809.85, an increase of 85.18% due to more received bills[15] - Accounts payable increased to CNY 705,901,170.21 from CNY 684,300,584.48, representing a rise of approximately 3.06%[46] - The total amount of other receivables increased to CNY 236,334,101.77 from CNY 164,813,661.26, reflecting a growth of about 43.4%[44] Research and Development - R&D expenses in Q1 2020 totaled CNY 5,328,001.81, down 50.12% from the same period in 2019, primarily due to project development being halted during the pandemic[14] - Research and development expenses were CNY 5,302,748.55, reduced from CNY 10,630,750.36 in the previous period, indicating a focus on cost management[54] Financial Performance and Metrics - The weighted average return on equity was -3.62%, down 1.87 percentage points from -1.75% in the previous year[8] - Basic and diluted earnings per share were both -CNY 0.06, compared to -CNY 0.04 in the previous period[55] - The company reported a gross profit margin of approximately 7.8% for the first quarter, significantly lower than the previous period[57] Other Financial Information - The company reported no significant non-recurring gains or losses during the reporting period[9] - The company has not engaged in any securities investments during the reporting period[34] - There were no instances of non-compliance regarding external guarantees during the reporting period[37] - The company has not conducted any trust investments during the reporting period[35] - The company has not reported any derivative investments during the reporting period[36] Strategic and Future Outlook - The company did not disclose any future outlook or performance guidance in the available documents[79] - No information regarding new product or technology development was mentioned in the report[79] - There are no details on market expansion or mergers and acquisitions in the current report[79] - The report does not include any strategic initiatives or new strategies being pursued by the company[79]

Financial Performance - Guodi Technology reported a total revenue of RMB 500 million for the year 2019, representing a year-on-year increase of 15%[16]. - The company's operating revenue for 2019 was approximately ¥1.64 billion, a decrease of 1.44% compared to 2018[22]. - The net profit attributable to shareholders was approximately ¥10.68 million, an increase of 109.22% from a net loss of ¥115.75 million in 2018[22]. - The basic and diluted earnings per share improved to ¥0.02, compared to a loss of ¥0.20 per share in 2018, marking a 110% increase[22]. - Total assets at the end of 2019 were approximately ¥2.92 billion, an increase of 8.80% from the previous year[22]. - The company's weighted average return on equity rose to 1.09%, an increase of 12.22 percentage points from -11.13% in 2018[22]. - The company reported a significant increase in construction in progress, which rose by 61.73% to approximately ¥242.84 million[32]. - The net cash flow from operating activities increased by 76.30% to approximately ¥240.39 million[22]. - The total operating costs amounted to ¥1,274,011,288.34, a decrease of 3.62% compared to ¥1,321,816,804.54 in 2018[49]. - The total cash and cash equivalents increased by 109.17% to ¥22,096,961.24 in 2019, compared to a decrease of ¥240,989,066.81 in 2018[58]. Business Operations - The company’s major business operations include the production and sales of plastic pipes and related products, with a focus on expanding its market presence[21]. - The sales revenue from the plastic manufacturing sector was CNY 1.58 billion, accounting for 96.18% of total revenue, with a year-on-year decrease of 2.80%[43]. - The sports and cultural tourism sector generated CNY 62.65 million, representing 3.82% of total revenue, with a significant increase of 51.89% compared to CNY 41.25 million in 2018[43]. - The PVC pipeline sales increased by 6.33% to CNY 924.77 million, while PE pipeline sales decreased by 23.03% to CNY 447.42 million[43]. - The Southwest region accounted for 37.20% of total sales revenue, with a year-on-year increase of 23.42%[43]. Corporate Governance - The board of directors and management have confirmed the accuracy and completeness of the financial report, taking legal responsibility for its content[5]. - The company has a structured remuneration decision-making process for its directors and senior management[167]. - The company has a governance structure that complies with relevant laws and regulations, ensuring equal rights for all shareholders, especially minority shareholders[177]. - The board of directors includes three independent directors, constituting one-third of the total board members, ensuring independent oversight[178]. - The company actively engages in investor relations through various communication channels, enhancing transparency and information dissemination[179]. Future Outlook and Strategy - The company plans to implement measures to improve the operational efficiency of its wholly-owned subsidiary, Alashan Dream Car Culture Tourism Development Co., Ltd., which faced significant financial challenges, including lawsuits and frozen bank accounts[7]. - The company plans to focus on maximizing profits and improving internal management to ensure stable growth in 2020[75]. - Emphasis will be placed on enhancing market marketing strategies and expanding sales channels, particularly for municipal products[75]. - The company aims to improve product quality and safety management to enhance market competitiveness[75]. - The company has not disclosed specific guidance for 2020 earnings, citing various market factors that could impact performance[8]. Audit and Compliance - The audit report for 2019 was issued with an unqualified opinion, despite the significant uncertainties surrounding the subsidiary's ability to continue as a going concern[7]. - The company received an unqualified audit report with an emphasis of matter from Zhongqin Wanxin, reflecting the objective situation of the company[87]. - The audit report was signed on June 22, 2020, by registered accountants Ni Jun and Chen Haiyan from Zhongqin Wanxin CPA[199]. - The internal control verification report aligns with the board's self-evaluation report, confirming consistency in findings[195]. - The audit committee held multiple meetings to review and approve financial statements and audit arrangements, demonstrating active oversight[187]. Legal and Financial Challenges - The company is involved in a lawsuit with an amount of 4,587.12 million yuan, currently under court review[98]. - The company has received a court ruling for pre-litigation asset preservation involving assets valued at 301,905,775 yuan[98]. - The subsidiary Alashan Meng Dream Car Culture Tourism Development Co., Ltd. is facing significant operational challenges, including lawsuits and frozen bank accounts, which may affect its going concern ability[129]. - The company has a total of 30,488.35 million yuan in payable debts to related parties, with a current balance of 27,444.49 million yuan after repayments[108]. Shareholder Information - The total number of shares is 597,196,800, with 85.69% being unrestricted shares[134]. - The largest shareholder, Shanxi Shengnong Investment Co., Ltd., holds 26.02% of the shares, totaling 155,414,292 shares, which are currently frozen[140]. - Zhang Zhenguo, a natural person shareholder, holds 4.82% of the shares, totaling 28,757,594 shares, with 28,757,522 shares under pledge[140]. - The company has not conducted any repurchase transactions among the top 10 shareholders during the reporting period[141]. - The company has a total of 32,486 common shareholders at the end of the reporting period[139]. Employee and Management Information - The total number of employees in the company is 2,004, with 1,308 in production, 236 in sales, and 141 in technical roles[171]. - The company reported a total pre-tax remuneration of 714.7 million yuan for directors and senior management during the reporting period[168]. - The company has a training program covering various aspects, including safety production and quality control, aimed at enhancing employee skills and compliance[174]. - The company implements a performance-based salary system, linking employee income directly to individual performance contributions[173]. - The company has established a comprehensive welfare system, including various insurance plans and benefits such as meal allowances and housing funds[173].