Company Overview - Yonghe Fluid Control Co., Ltd. provides an introduction to its corporate structure, governance, industry status, and business operations [2][3]. Main Business Analysis - From 2013 to 2015, the revenue from valve products was ¥31,728.76 million, ¥39,209.68 million, and ¥37,475.19 million, accounting for 69.24%, 75.52%, and 78.44% of total revenue respectively. Pipe fittings generated revenue of ¥11,939.25 million, ¥9,796.94 million, and ¥7,773.90 million, representing 26.05%, 18.87%, and 16.27% of total revenue [3]. - The gross profit margin for valve products was 30.12%, 30.99%, and 31.34% from 2013 to 2015, showing a steady increase, while pipe fittings had margins of 28.54%, 27.06%, and 23.60% [3]. Market and Competition - The plumbing materials industry has a large market capacity and promising future growth, driven by the rapid increase in lead-free plumbing products and advancements in production technology [3][4]. - Domestic competitors include Fujian Valve Industry Co., Ltd., Zhejiang Aidi Fluid Control Co., Ltd., and Ningbo Huaping Metal Products Co., Ltd. International competitors include Italian companies such as Caleffi S.p.A and Rubinetterie Bresciane Bonomi S.P.A [3]. Strategic Advantages - The company emphasizes continuous improvement in operations, a differentiated competitive strategy targeting high-end clients, and advantages in lead-free product markets [4]. - R&D and testing capabilities are highlighted as significant competitive advantages, along with the benefits of being part of an industrial cluster [4]. Financial and Investment Outlook - The company plans to utilize financial leverage and capital market functions to maintain a healthy asset-liability structure and ensure sustainable development [4]. - Post-IPO, the company expects to enhance its product structure and production scale, significantly improving its competitive edge [4]. Future Growth and Market Development - The company aims to gradually develop its domestic market while consolidating its position in international markets, focusing on building its own brand strategy and expanding into plumbing system applications and services [5].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥530,474,100.21, representing a 24.94% increase compared to ¥424,568,719.79 in the same period last year[23]. - The net profit attributable to shareholders for the first half of 2022 was ¥31,499,025.19, up 23.44% from ¥25,517,293.28 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥33,620,193.29, a significant increase of 44.62% compared to ¥23,247,063.08 in the same period last year[23]. - The net cash flow from operating activities reached ¥99,705,749.37, marking a substantial increase of 610.75% from ¥14,028,211.58 in the previous year[23]. - The total assets at the end of the reporting period were ¥1,516,156,849.94, reflecting a 0.63% increase from ¥1,506,596,737.33 at the end of the previous year[23]. - The net assets attributable to shareholders increased by 7.81% to ¥830,710,439.47 from ¥770,553,263.72 at the end of the previous year[23]. - Basic earnings per share decreased by 15.38% to ¥0.11 from ¥0.13 in the same period last year[23]. - The diluted earnings per share also decreased by 15.38% to ¥0.11 from ¥0.13 in the previous year[23]. - The weighted average return on net assets was 3.89%, slightly up by 0.03 percentage points from 3.86% in the previous year[23]. - The company reported a total profit for the same period of 38.30 million yuan, reflecting a growth of 13.03% compared to the previous year[47]. Strategic Initiatives - The company is expanding into the precision radiotherapy sector, addressing the growing cancer incidence in China, which is projected to reach 5.1 million new cases by 2025[32]. - The company has established a strategic platform through its subsidiary Chengdu Yonghe Cheng Medical Technology Co., Ltd., focusing on precision radiotherapy services across major cities[35]. - The company plans to enhance its hospital network by integrating advanced medical imaging and radiotherapy equipment, including PET-CT and linear accelerators[37]. - The company has signed cooperation agreements with major hospitals to facilitate technology support, talent training, and data sharing in the oncology field[39][40]. - The company aims to fill the gap in radiotherapy resources in China, where only 20%-30% of cancer patients receive radiotherapy compared to 70% in developed countries[33]. - The company is committed to building a robust oncology treatment network, leveraging both self-built facilities and strategic acquisitions[37]. - The company is focusing on the core operational capabilities in the field of tumor precision radiotherapy, enhancing hospital management and service quality[48]. - The company is pursuing a dual strategy of "external mergers and acquisitions + internal growth" to expand quality medical resources and scale operations[52]. Operational Efficiency - The company is implementing a machine replacement plan to optimize production processes and improve efficiency through automation[48]. - The company has equipped its hospitals with advanced tumor precision radiotherapy and imaging diagnostic equipment to provide comprehensive medical services[53]. - The company has built a team of experienced medical professionals, ensuring a strong foundation for rapid growth in the tumor radiotherapy sector[55]. - The company has established stable partnerships with large multinational enterprises, enhancing its competitive advantage in the global market despite recent trade tensions affecting its U.S. market presence[57]. - The company has implemented an ERP system for integrated management, improving responsiveness to customer demands and ensuring timely product delivery[58]. Market and Sales - The revenue from the medical services and other industries saw a remarkable increase of 102.95%, reaching ¥71,280,115.49 compared to ¥35,121,601.08 last year[64]. - The average number of radiotherapy devices per million people in first-tier cities is 4.9, significantly lower than the 14.4 in the United States, indicating a market opportunity[34]. - The company is expanding its market resources through intermediary channels to stabilize sales and increase customer orders amid the ongoing impact of the COVID-19 pandemic[49]. - Approximately 50% of the company's sales are generated from the US market, indicating a high dependency on international trade, which poses risks amid potential trade tensions[85]. Financial Management - The company has strengthened inventory management, leading to faster inventory turnover and reduced stock levels[70]. - The company has increased its prepayments to secure material procurement prices, indicating a proactive approach to cost management[70]. - The company emphasizes risk management in foreign exchange forward contracts to mitigate currency fluctuation risks[78]. - The company has implemented strict internal controls to manage risks associated with foreign exchange transactions[78]. - The company is focused on maintaining stable profit levels despite potential currency volatility[78]. - The company has established a mechanism to adjust pricing based on exchange rate fluctuations to manage currency risk effectively[89]. Shareholder and Capital Structure - The company plans not to distribute cash dividends or issue bonus shares[5]. - The 2019 stock option incentive plan allows 19 eligible participants to exercise 7.378 million options at a price of ¥14.19 per share, representing 3.53% of the total share capital[97]. - The exercise price for the 2019 stock option plan was adjusted from ¥14.19 to ¥10.14, with the number of unexercised options increasing from 9.2225 million to 12.9115 million[98]. - The 2022 restricted stock incentive plan involves granting 11.5 million shares at a price of ¥5.57 per share to 60 participants[100]. - The company reported a cumulative increase of 10,928,376 shares, accounting for 3.54% of the total share capital, with an investment amount of approximately RMB 89.75 million[112]. - The total number of ordinary shareholders at the end of the reporting period was 16,770, with significant shareholders including Cao Deli holding 16.25% (47.6 million shares) and Chen Xianyun holding 7.98% (23.37 million shares)[147]. Compliance and Governance - The financial statements were prepared in accordance with the accounting standards issued by the Ministry of Finance and relevant regulations[196]. - The financial report was approved by the board of directors on August 26, 2022[195]. - The company has not reported any significant changes in accounting policies compared to the previous reporting period[78]. - The company has not engaged in any major asset or equity sales during the reporting period[80][81]. - There were no fundraising activities reported during the period[79]. - The company has not reported any significant litigation or arbitration matters during the reporting period[116]. - The company did not engage in any major related party transactions during the reporting period[117].

Financial Performance - The company's operating revenue for 2021 was ¥1,008,508,895.38, representing a 55.71% increase compared to ¥647,691,188.74 in 2020[18]. - The net profit attributable to shareholders for 2021 was ¥18,682,917.51, a 44.55% increase from ¥12,924,662.58 in 2020[18]. - The net profit after deducting non-recurring gains and losses for 2021 was ¥14,705,244.35, showing a 73.22% increase from ¥8,489,349.07 in 2020[18]. - The net cash flow from operating activities for 2021 was ¥115,162,707.14, which is a 103.93% increase compared to ¥56,472,415.67 in 2020[18]. - The total assets at the end of 2021 were ¥1,506,596,737.33, reflecting a 27.04% increase from ¥1,185,934,827.59 at the end of 2020[18]. - The net assets attributable to shareholders at the end of 2021 were ¥770,553,263.72, a 20.56% increase from ¥639,140,711.44 at the end of 2020[18]. - The company achieved total revenue of 1,008.51 million yuan in 2021, representing a year-on-year growth of 55.71%[45]. - The net profit attributable to the parent company was 186.83 million yuan, an increase of 44.55% compared to the previous year[45]. - The total operating revenue for the year 2021 reached ¥1,008,508,895.38, representing a year-on-year increase of 55.71% compared to ¥647,691,188.74 in 2020[63]. - The industrial segment contributed ¥918,323,094.84, accounting for 91.06% of total revenue, with a year-on-year growth of 52.39%[63]. - The medical services and other industries saw a revenue increase of 100.10%, reaching ¥90,185,800.54, up from ¥45,070,534.16 in 2020[63]. Business Strategy and Expansion - The company plans to expand into the precision radiation therapy sector, driven by the increasing cancer incidence in the aging population[27]. - The projected number of new cancer cases in China is expected to reach 499 million by 2024 and 570 million by 2030, indicating a growing market opportunity[28]. - The company focuses on building a chain of specialized cancer hospitals in key cities, integrating advanced medical imaging and radiation therapy technologies[36]. - The company aims to address the imbalance in radiation therapy resources between first-tier and lower-tier cities, where demand significantly exceeds supply[30]. - The company is strategically expanding its presence in high-value cities and emerging markets to build a nationwide cancer treatment service network[52]. - The company is developing a lead-free threaded ball valve to meet European market standards, currently in mass production phase[76]. - The company aims to establish a chain of specialized hospitals focused on precision radiation therapy for tumors, targeting high-value cities and emerging markets[106]. - The company plans to enhance its product supply capabilities by developing integrated solutions in the water system and HVAC sectors[107]. - The company is considering strategic acquisitions to enhance its product portfolio and market presence, with a budget of RMB 300 million allocated for potential deals[152]. Operational Efficiency and Management - The company is implementing a "dual control" energy consumption policy, adjusting production schedules to minimize the impact of power restrictions[47]. - The company is promoting a "machine replacement" plan to optimize production processes and reduce labor costs through automation[48]. - The company emphasizes talent development, focusing on internal talent cultivation and management to support business growth[50]. - The company has established partnerships with major hospitals to enhance service capabilities and improve patient care through collaborative agreements[39]. - The company has implemented an ERP system for integrated management, improving responsiveness to customer demands[59]. - The company has a structured training program aimed at enhancing employee capabilities and aligning with strategic goals[170]. - The company has a differentiated compensation structure based on employee levels and categories, ensuring internal equity and external competitiveness[169]. - The company is focused on maintaining advanced technology through continuous upgrades and expansions in its valve and fitting business[178]. Financial Management and Investments - The company reported a cash dividend of 0.00 RMB per 10 shares and a capital reserve increase of 4 shares for every 10 shares held[6]. - The company has a cash dividend policy in place but did not propose any cash dividends for 2021, opting instead for a capital reserve increase of 4 shares for every 10 shares held[173]. - The company reported a total of ¥58.23 million in investment properties, which are also subject to mortgage guarantees[89]. - The company has pledged 100% equity of its subsidiaries for bank loans, with total restricted assets valued at approximately ¥290.71 million[91]. - The company reported a significant focus on the development of the medical health industry, particularly in the field of precision radiation therapy for tumors[122]. - The company plans to continue its forward foreign exchange settlement business to manage financial risks effectively[162]. - The company has engaged in a significant asset restructuring plan involving the sale of 100% equity in Zhejiang Yonghe Zhikong Technology Co., Ltd. to Zhiba Technology (Zhejiang) Co., Ltd.[163]. Governance and Compliance - The company held one annual general meeting and four extraordinary general meetings during the reporting period, ensuring compliance with legal requirements for shareholder participation[123]. - The company maintains independence from its controlling shareholder, with no instances of non-operational fund occupation reported[124]. - The board of directors operates in accordance with legal and regulatory requirements, ensuring effective governance and oversight[125]. - The company has established a transparent performance evaluation and incentive mechanism for its directors, supervisors, and senior management, enhancing operational efficiency[128]. - The company's internal audit reports for 2021 confirmed compliance with financial reporting standards and highlighted the integrity of its financial practices[162]. - The company has established a comprehensive internal control system that has been effectively implemented, with no significant defects reported during the reporting period[189]. Market Challenges and Risks - The company faces risks related to industry policy changes that may impact private capital investment in medical services, particularly in tumor precision radiotherapy[112]. - The company has a significant portion of its hospital revenue tied to local medical insurance, which may face pressure as the business scales[113]. - The company is at risk of goodwill impairment due to acquisitions in the healthcare sector, necessitating a focus on improving hospital operational and profitability capabilities[114]. - The valve and fittings business is exposed to foreign exchange risks, particularly with the US dollar, and will implement hedging strategies to mitigate these risks[115]. - The company will track raw material price trends, particularly copper, which constitutes approximately 60% of production costs, to manage price volatility effectively[116].

Financial Performance - The company's revenue for Q1 2022 was ¥250,022,104.21, representing a 38.59% increase compared to ¥180,406,859.36 in the same period last year[3] - Net profit attributable to shareholders was ¥12,478,199.47, up 68.84% from ¥7,390,662.30 year-on-year[3] - Basic earnings per share rose to ¥0.0597, a 61.35% increase from ¥0.0370 in the same period last year[3] - Total operating revenue for the first quarter was CNY 250,022,104.21, an increase of 38.6% compared to CNY 180,406,859.36 in the previous period[22] - Net profit for the period reached CNY 10,909,591.98, representing a 46.4% increase from CNY 7,468,842.31 in the same period last year[23] - The total comprehensive income for the period was CNY 10,876,464.25, compared to CNY 7,482,374.73 in the previous period, representing an increase of approximately 45.5%[24] Cash Flow - The net cash flow from operating activities increased by 287.74% to ¥68,005,318.04, compared to ¥17,538,692.11 in the previous year[9] - The net cash flow from operating activities was CNY 68,005,318.04, significantly up from CNY 17,538,692.11 in the previous period, indicating a growth of about 287.5%[27] - The net cash flow from investing activities was -CNY 18,224,541.24, worsening from -CNY 8,339,974.85 in the previous period[27] - The net cash flow from financing activities surged by 759.14% to ¥37,672,157.22, compared to -¥5,715,313.80 in the previous year[9] - The net cash flow from financing activities was CNY 37,672,157.22, compared to -CNY 5,715,313.80 in the previous period, indicating a turnaround[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,541,440,427.35, a 2.31% increase from ¥1,506,596,737.33 at the end of the previous year[3] - The total assets of the company increased to CNY 1,541,440,427.35 from CNY 1,506,596,737.33, a growth of 2.3%[21] - The total liabilities decreased slightly to CNY 705,709,569.01 from CNY 710,032,521.28, a decline of 0.3%[21] - The company’s total liabilities decreased by 40.93% in employee compensation payable, from ¥39,256,120.61 to ¥23,189,384.18[7] Research and Development - The company reported a 33.42% increase in R&D expenses, totaling ¥5,459,065.78 compared to ¥4,091,776.07 in the previous year[8] - Research and development expenses increased to CNY 5,459,065.78 from CNY 4,091,776.07, a rise of 33.5%[23] Shareholder Activities - The controlling shareholder and actual controller, Cao Deli, along with his concerted actors, have cumulatively increased their holdings by 7,805,983 shares, accounting for 3.73% of the total share capital, which is 86.73% of the lower limit of their planned increase of 9 million shares[14] - The company has extended the deadline for the shareholding increase plan from February 8, 2022, to August 8, 2022[14] - The stock option incentive plan allows 19 eligible participants to exercise 7,378,000 stock options at a price of 14.19 yuan per share, starting from February 24, 2022[16] - As of the report date, 916,855 stock options have been exercised in the first exercise period, while none have been exercised in the second period[16] Inventory and Borrowings - Inventory decreased to CNY 184,164,228.41 from CNY 238,289,008.96, a reduction of 22.7%[20] - Short-term borrowings rose to CNY 281,909,484.66 from CNY 238,964,254.96, an increase of 17.9%[20] Other Financial Metrics - The weighted average return on equity increased by 0.42 percentage points to 1.57% from 1.15% year-on-year[3] - The company's equity attributable to shareholders rose to CNY 811,288,513.50 from CNY 770,553,263.72, an increase of 5.3%[21] - The company's cash and cash equivalents increased to CNY 248,379,733.65 from CNY 131,906,431.44 at the beginning of the year, reflecting a growth of 88.1%[20] - The cash and cash equivalents at the end of the period totaled CNY 218,379,733.65, up from CNY 114,993,577.66 in the previous period, an increase of approximately 90.0%[27] Audit Information - The company did not conduct an audit for the first quarter report[28]

Financial Performance - The company's revenue for Q3 2021 reached ¥294,847,063.85, representing an increase of 86.43% compared to the same period last year[3] - Net profit attributable to shareholders was ¥1,549,625.93, a decrease of 75.37% year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥1,232,219.65, down 79.45% from the previous year[3] - Total operating revenue for the third quarter reached ¥719,415,783.64, a significant increase from the previous period's revenue of ¥462,392,212.54[21] - The net profit for Q3 2021 was CNY 27,284,046.62, a decrease of 24.1% compared to CNY 35,975,928.62 in Q3 2020[23] - Operating profit for Q3 2021 was CNY 42,287,355.99, down from CNY 48,626,612.87 in the same period last year, reflecting a decline of 13.7%[23] - The company experienced a total profit of CNY 42,225,666.83 in Q3 2021, which is a decrease of 12.5% from CNY 48,273,639.49 in Q3 2020[23] - The total comprehensive income attributable to the parent company for Q3 2021 was CNY 27,069,491.56, compared to CNY 35,938,457.39 in Q3 2020, a decrease of 24.4%[24] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,336,829,712.11, an increase of 12.72% compared to the end of the previous year[4] - Current liabilities totaled ¥489,816,133.43, an increase from ¥458,449,238.26, indicating a rise in short-term financial obligations[19] - The total equity attributable to shareholders rose to ¥714,719,370.08 from ¥639,140,711.44, demonstrating improved shareholder value[20] - Total assets amounted to CNY 1,185,934,827.59, a decrease of CNY 78,879,544.18 compared to the previous period[32] - Non-current liabilities increased to CNY 86,510,976.20, reflecting an increase of CNY 78,876,488.24 compared to the previous period[31] Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥29,338,580.55, a decline of 56.46% compared to the same period last year[11] - Cash flow from operating activities for Q3 2021 was CNY 29,338,580.55, significantly lower than CNY 67,386,538.08 in Q3 2020, representing a decrease of 56.4%[26] - The company reported a net cash outflow from investing activities of CNY -20,230,488.44 in Q3 2021, compared to CNY -151,931,842.79 in Q3 2020[27] - The company’s total cash inflow from financing activities in Q3 2021 was CNY 444,566,892.67, compared to CNY 488,600,000.00 in Q3 2020, reflecting a decrease of 9.0%[27] - The cash and cash equivalents at the end of Q3 2021 were CNY 105,806,832.41, down from CNY 181,896,302.50 at the end of Q3 2020, a decline of 41.8%[27] Shareholder Information - The total number of common shareholders at the end of the reporting period is 15,778[12] - The largest shareholder, Cao Deli, holds 16.75% of the shares, amounting to 34,000,000 shares, with 25,500,000 shares pledged[12] - The second largest shareholder, Chen Xianyun, holds 8.22% of the shares, totaling 16,692,400 shares[12] - The third largest shareholder, Yang Yingli, holds 6.89% of the shares, amounting to 13,980,000 shares[12] - The company has not disclosed any other significant shareholder relationships beyond those mentioned[12] Research and Development - Research and development expenses increased by 69.48% to ¥16,878,871.98, reflecting higher investment in R&D materials[9] - Research and development expenses were reported at ¥16,878,871.98, up from ¥9,959,089.40, reflecting the company's commitment to innovation[21] Strategic Initiatives - The company is in the process of selling 100% equity of Zhejiang Yonghe Zhikong Technology Co., Ltd. to Zhiba Technology, which includes all rights to its subsidiaries[14] - The company is actively conducting audits and evaluations related to the asset sale, with board meetings planned to review the transaction[14] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[21] Stock Options - The stock option incentive plan has allowed 21 eligible participants to exercise 3.02 million options at a price of 14.19 RMB per share[15] - The company has a total of 934,750 stock options available for exercise under the incentive plan[15]

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥424.57 million, representing a 39.55% increase compared to ¥304.24 million in the same period last year[19]. - The net profit attributable to shareholders of the listed company decreased by 13.81% to approximately ¥25.52 million, down from ¥29.60 million in the previous year[19]. - The net cash flow from operating activities fell by 49.62% to approximately ¥14.03 million, compared to ¥27.84 million in the same period last year[19]. - Total assets at the end of the reporting period increased by 12.42% to approximately ¥1.33 billion, up from ¥1.19 billion at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased by 5.44% to approximately ¥673.94 million, compared to ¥639.14 million at the end of the previous year[19]. - The basic earnings per share decreased by 13.33% to ¥0.13, down from ¥0.15 in the same period last year[19]. - The weighted average return on net assets decreased by 0.89 percentage points to 3.86% compared to 4.75% in the previous year[19]. - The total profit for the same period was 33.89 million CNY, which is a decrease of 13.30% compared to the previous year[36]. - The company's total revenue reached ¥424,568,719.79, representing a year-on-year increase of 33.47%[57]. - The gross profit margin for the industrial sector decreased by 3.73 percentage points to 28.60%[57]. - The total profit for the first half of 2021 was CNY 33,886,786.14, a slight decrease from CNY 39,086,510.64 in the same period of 2020[172]. Healthcare Sector Focus - The company is strategically entering the healthcare industry, focusing on precision radiation therapy for tumors, and plans to divest its fluid control business[27]. - The demand for cancer treatment in China is increasing, with new cancer cases expected to rise from approximately 4.4 million in 2019 to about 5.11 million by 2025[28]. - The company has established a platform for medical industry development through its wholly-owned subsidiary, Chengdu Yonghe Medical Technology Co., Ltd., focusing on tumor treatment services[30]. - The company has acquired Dazhou Medical Oncology Hospital and Kunming Medical Oncology Hospital, and has established a new hospital in Chongqing, expanding its network of specialized cancer treatment facilities[33]. - The company aims to enhance its operational capabilities in the healthcare sector by implementing refined management practices and establishing a comprehensive operational management system for its chain hospitals[38]. - The company is integrating advanced medical imaging and radiation therapy equipment in its hospitals to provide precise treatment for cancer patients[31]. - The radiation therapy adoption rate in China is significantly lower than in developed countries, indicating substantial growth potential in the market[29]. - The company has established a clear service positioning in the healthcare sector, targeting the growing demand for tumor precision radiotherapy amid an aging population and rising cancer incidence[42]. - The company has invested in multiple medical facilities, including Dazhou Medical Oncology Hospital and Kunming Medical Oncology Hospital, to strengthen its presence in the healthcare market[54]. Operational Risks and Management - The company faces various operational risks and has outlined corresponding countermeasures in its report[5]. - The company is actively restructuring its asset portfolio by divesting its traditional valve and pipe fittings business to focus on the healthcare sector, which is expected to enhance its capital for medical industry expansion[40]. - The company is addressing the risk of delayed medical insurance reimbursements by enhancing its brand reputation and reducing reliance on insurance payments[81]. - There is a risk of goodwill impairment due to acquisitions of hospitals, prompting the company to focus on improving operational and profitability metrics[82]. - The company is exposed to foreign exchange risks due to its reliance on exports, particularly in USD, and is implementing pricing mechanisms to mitigate this risk[83]. Investment and Financial Strategy - Research and development investment rose by 60.09% to approximately ¥9.53 million, compared to ¥5.96 million in the previous year, indicating a focus on enhancing R&D capabilities[52]. - The company plans to focus on the healthcare industry after exiting the fluid control business, which will optimize its capital structure and reduce financial costs[77]. - The company aims to enhance its sustainable development capabilities by investing the recovered funds into the healthcare industry[77]. - The company has implemented measures to avoid overdue accounts receivable and reduce customer default risks by purchasing credit insurance[74]. - The company has committed to a share buyback plan, with a target of acquiring between 1.9072 million and 2 million shares[112]. - The company applied for a total credit limit of up to RMB 600 million from banks to support development plans and strategic implementation[133]. Shareholder and Equity Information - The company did not distribute cash dividends or issue new shares in the first half of the year, maintaining its capital structure[88]. - The company has completed all commitments made by actual controllers, shareholders, and related parties during the reporting period[102]. - The company has fulfilled its commitment regarding the reduction of shareholding, allowing a maximum reduction of 5% of total shares within 24 months after the lock-up period[102]. - The company has ensured that any future compensation measures will be linked to the execution of relevant commitments[103]. - The company has not made any unfair conditions for other units or individuals that would harm the company's interests[103]. - The company has a total of 47,980,000 shares held by directors and supervisors at the beginning and end of the reporting period[151]. - The total number of common shareholders at the end of the reporting period was 15,251[148]. - The largest shareholder, Cao Deli, holds 17.00% of the shares, amounting to 34,000,000 shares, with 25,500,000 shares pledged[148]. - The company reported no changes in the number of shares held by directors and senior management during the reporting period[151]. Future Outlook and Strategic Initiatives - The company plans to continue focusing on market expansion and new product development to drive future growth[170]. - The company anticipates a gradual recovery in performance in the upcoming quarters, supported by strategic initiatives and market expansion efforts[190]. - The company aims to expand its market presence and enhance product development in the upcoming periods[197]. - The company is focusing on technological innovation and the development of new products to drive future growth[197]. - The company has plans for strategic investments and potential mergers to strengthen its market position[197].

Financial Performance - The company reported a total revenue of RMB 500 million for the year 2020, representing a year-on-year increase of 15%[12]. - The net profit attributable to shareholders was RMB 80 million, which is a 10% increase compared to the previous year[12]. - The company's operating revenue for 2020 was ¥647,691,188.74, representing a 9.40% increase compared to ¥592,058,026.89 in 2019[6]. - The net profit attributable to shareholders for 2020 was ¥12,924,662.58, a significant decrease of 78.53% from ¥60,199,518.00 in 2019[6]. - The total profit amounted to RMB 28.76 million, a decrease of 61.87% year-on-year[52]. - The net profit after deducting non-recurring gains and losses was ¥8,489,349.07, down 85.13% from ¥57,086,493.85 in 2019[6]. - The net cash flow from operating activities decreased by 23.24% to ¥56,472,415.67 from ¥73,571,356.00 in 2019[6]. - The total assets at the end of 2020 were ¥1,185,934,827.59, an increase of 56.77% from ¥756,494,685.39 at the end of 2019[6]. Strategic Plans and Investments - The company plans to invest RMB 50 million in research and development for new product lines in 2021[12]. - The management has set a revenue target of RMB 600 million for 2021, reflecting a growth rate of 20%[12]. - The company is focusing on the medical health industry, particularly in the field of precision radiation therapy for tumors, with plans to establish specialized hospitals in major cities[26]. - The company aims to enhance its industry foundation through investments and acquisitions, adopting a model of "internal growth + external mergers" to expand its market presence[27]. - The company is exploring potential mergers and acquisitions to enhance its market position and product offerings[12]. - The company has successfully acquired Dazhou Medical Oncology Hospital and Kunming Medical Oncology Hospital, and has established Chongqing Huapu Oncology Hospital, marking a strong start to its strategic transformation[33]. - The company aims to build a nationwide oncology medical service network, focusing on radiation therapy, to capture a larger market share in the growing sector[33]. Market Expansion and User Growth - User data indicates a growth in active users by 25%, reaching a total of 1 million users by the end of 2020[12]. - The company has outlined a market expansion strategy targeting Southeast Asia, aiming for a 20% market share by 2023[12]. - The company has expanded its market presence in Southeast Asia, the Middle East, and South America, moving beyond its traditional markets in Europe and the US[55]. Risks and Challenges - The company has identified policy risks and goodwill impairment risks as significant factors affecting future performance[5]. - The aging population in China is leading to an increase in cancer incidence, with projections indicating that annual cancer cases will rise from approximately 4.4 million in 2019 to about 5.11 million by 2025[28]. - The company faces industry policy risks that may impact its ability to expand in the domestic market due to potential tightening of regulations on private medical investments[117]. - There is a risk of delayed reimbursement from local medical insurance, which could increase as the scale of hospital operations expands[118]. - The company is exposed to foreign exchange risks due to its reliance on exports, primarily settled in USD, and has implemented a pricing mechanism to mitigate this risk[121]. Research and Development - The company continues to focus on enhancing its intelligent control technology to improve product efficiency and customer satisfaction[12]. - The company has invested in Dazhou Medical Oncology Hospital, Kunming Medical Oncology Hospital, and holds shares in Xi'an Medical Oncology Hospital, focusing on precision radiation therapy[66]. - The company has implemented a multi-level incentive mechanism to attract and retain talent in the medical field, enhancing its operational capabilities[56]. - The company’s R&D expenses decreased by 24.35% to ¥14,058,334.55, representing 2.17% of operating revenue[73]. - The number of R&D personnel increased by 11.54% to 87, although the proportion of R&D personnel decreased to 8.42%[73]. Financial Management and Governance - The company raised a total of RMB 37,125.00 million from the public offering of 25 million shares at RMB 14.85 per share, with a net amount of RMB 32,821.27 million after deducting issuance costs of RMB 4,303.73 million[97]. - As of the end of the reporting period, the company had cumulatively used RMB 34,720.17 million of the raised funds, with RMB 2,936.15 million used during the reporting period[99]. - The company has no idle funds that have been unused for over two years[99]. - The company has committed to not occupying the funds or assets of the listed company and to minimize related party transactions, ensuring fairness and normal commercial conditions[133]. - The company has established a commitment to minimize related party transactions and ensure they are conducted under fair and reasonable commercial terms[138]. Compliance and Legal Matters - The company has not faced any major litigation or arbitration matters during the reporting period, reflecting a stable legal environment[156]. - The company has not experienced any penalties or rectification situations during the reporting period, indicating compliance with regulations[157]. - The company has not reported any non-compliance with commitments made regarding the waiver of voting rights[145]. Corporate Changes and Shareholder Commitments - The company changed its corporate type from "joint-stock company (Taiwan, Hong Kong, Macao and domestic joint venture, listed)" to "joint-stock company (listed)"[189]. - The controlling shareholder increased its stake by acquiring between 1.9 million and 2 million shares, representing approximately 0.9536% of the total share capital[190]. - The company plans to reduce its shareholding by no more than 25% of the total shares held during the 24 months following the expiration of the lock-up period[137]. - The company has completed its share reduction commitments as of the reporting period, with no shares held by certain stakeholders[138].

Financial Performance - The company's revenue for Q1 2021 was ¥180,406,859.36, representing a 37.77% increase compared to ¥130,945,135.99 in the same period last year[9] - Net profit attributable to shareholders was ¥7,390,662.30, a decrease of 4.97% from ¥7,777,412.59 in the previous year[9] - The net profit after deducting non-recurring gains and losses was ¥6,903,617.33, down 4.02% from ¥7,193,090.53 year-on-year[9] - Operating revenue for the current period reached ¥180,406,859.36, a 37.77% increase compared to ¥130,945,135.99 in the same period last year, driven by an expansion in business scale[19] - The company's total comprehensive income for the period was CNY -5,676,156.69, compared to CNY -883,593.19 in the previous period, indicating a decline in overall financial health[63] Cash Flow - The net cash flow from operating activities increased by 15.86% to ¥17,538,692.11 from ¥15,137,908.87 in the same period last year[9] - The net cash flow from operating activities was ¥17,538,692.11, a 15.86% increase from ¥15,137,908.87, mainly due to higher cash receipts from sales and tax refunds[21] - The net cash flow from investing activities improved by 88.21%, reducing losses to -¥8,339,974.85 from -¥70,721,066.18, as cash payments for investments decreased[21] - The net cash flow from operating activities for Q1 2021 was ¥976,804.13, a decrease of 74.7% compared to ¥3,859,275.63 in the same period last year[69] - Total cash inflow from operating activities was ¥3,451,170.74, down 85.3% from ¥23,605,367.67 in Q1 2020[69] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,258,335,756.56, up 6.10% from ¥1,185,934,827.59 at the end of the previous year[9] - The company's total assets as of March 31, 2021, were CNY 1,069,435,454.78, down from CNY 1,075,916,124.09 at the end of 2020[54] - The total liabilities increased to CNY 609,878,768.70 from CNY 544,960,214.46, representing an increase of approximately 11.9%[50] - Total liabilities increased to ¥544,960,214.46, reflecting a rise of ¥78,879,544.18 compared to the previous year[74] - The company's total equity remained stable at ¥640,974,613.13, unchanged from the previous year[74] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 13,068[12] - The company’s major shareholder, the actual controller, plans to increase holdings by acquiring between 1.9 million and 2 million shares, which has been completed with 1,907,200 shares acquired[22] - The company’s major shareholder transferred 58 million shares, representing 29.00% of total equity, to the actual controller, ensuring continued control over the company[25] Research and Development - R&D expenses surged by 86.92% to ¥4,091,776.07 from ¥2,189,109.63, indicating a significant increase in investment in research and development[19] - Research and development expenses for Q1 2021 were CNY 4,091,776.07, compared to CNY 2,189,109.63 in the previous period, indicating increased investment in innovation[57] Financial Management - Financial expenses skyrocketed by 356.41% to ¥8,058,672.53 from ¥1,765,667.35, primarily due to increased interest expenses on bank loans[19] - The company reported a significant credit impairment loss of CNY -1,230,736.95, which negatively impacted the overall profit[62] Investments and Loans - The company received a loan of RMB 28.5 million from its controlling shareholder, with a one-year term and no collateral required[32] - The company entered into a maximum loan agreement with its controlling shareholder for up to RMB 300 million, available for two years with a maximum loan term of 24 months[33] - The company engaged in derivative investments, including forward foreign exchange contracts with Bank of China and Industrial and Commercial Bank of China, with a total initial investment of RMB 195.82 million[38] Accounting and Standards - The company implemented a new leasing standard starting January 1, 2021, which resulted in adjustments to the financial statements[75] - The company has adopted the new leasing standards effective from January 1, 2021, impacting retained earnings and related financial statement items[77] - The first quarter report for 2021 has not been audited[78]

永和流体智控股份有限公司 2020 年第三季度报告全文 永和流体智控股份有限公司 2020 年第三季度报告 2020 年 10 月 1 永和流体智控股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人曹德莅、主管会计工作负责人廖丽娜及会计机构负责人(会计主管人员)廖丽 娜声明：保证季度报告中财务报表的真实、准确、完整。 2 永和流体智控股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年 | | --- | --- | --- | --- | --- | | | | | | 度末增减 | | 总资产（元） | 1,121,751,747.77 | | 756,494,685.39 | 48.28% | | 归属于上市公司股东的净资产（元） ...

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 304,240,690.74, representing a 1.07% increase compared to CNY 301,015,681.21 in the same period last year[17]. - The net profit attributable to shareholders decreased by 22.31% to CNY 29,604,594.62 from CNY 38,106,430.13 year-on-year[17]. - The net cash flow from operating activities dropped significantly by 65.02%, amounting to CNY 27,843,865.47 compared to CNY 79,597,519.54 in the previous year[17]. - Basic earnings per share decreased by 21.05% to CNY 0.15 from CNY 0.19 in the same period last year[17]. - The weighted average return on net assets was 4.75%, down 0.56 percentage points from 5.31% in the previous year[17]. - The company reported a significant increase in management expenses by 70.02% to ¥31,345,928.50, primarily due to the expansion of its medical business[46]. - Research and development investment decreased by 35.99% to ¥5,955,045.63, reflecting a reduction in R&D activities[46]. - The company reported a financial expense of CNY 3,048,342.84, compared to a financial income of CNY 3,163,020.22 in the same period last year[169]. - The total profit for the first half of 2020 was CNY 39,086,510.64, down 14.7% from CNY 45,873,467.61 in the same period of 2019[171]. Assets and Liabilities - The total assets of the company increased by 38.83% to CNY 1,050,243,924.52 from CNY 756,494,685.39 at the end of the previous year[17]. - The total liabilities rose to CNY 410,256,288.00 from CNY 148,271,693.97, marking an increase of approximately 176.5%[163]. - Non-current assets increased to CNY 612,483,321.62 from CNY 257,232,227.79, a growth of about 138.5%[162]. - The company's equity attributable to shareholders rose to CNY 637,814,129.15 from CNY 608,222,991.42, an increase of approximately 4.8%[164]. - The total liabilities to equity ratio increased significantly, indicating a higher leverage position for the company[163]. Strategic Expansion - The company is expanding into the medical health industry, focusing on tumor precision radiation therapy and establishing specialized hospitals in key cities[25][26]. - The company has established a dual-industry strategy of "medical health industry + fluid control business" to enhance its comprehensive strength and profitability[25][32]. - The company has actively expanded into the medical health industry, acquiring Dazhou Medical Oncology Hospital and investing in Chongqing Huapu Oncology Hospital[40]. - The company aims to achieve chain and scale operations for oncology specialty hospitals in key domestic cities through both organic growth and acquisitions[40]. - The company is strategically transitioning towards the healthcare industry, focusing on precision radiation therapy for tumors, in response to complex international economic conditions and trade uncertainties[86]. Investment and Financing - The company plans to leverage capital market financing tools to enhance its financial strength and reduce operational liabilities[42]. - The company reported a net cash inflow from financing activities of ¥104,875,031.34, a 204.88% increase compared to the previous year[46]. - The company has short-term borrowings of ¥180 million, which is a new bank loan for working capital[53]. - The company plans to issue up to 60.36 million CNY in non-public shares at a price of 10.06 CNY per share to its actual controller, with proceeds used for repaying bank loans and supplementing working capital[114]. - The company applied for a comprehensive credit facility totaling up to RMB 600 million to support its development plans and strategic implementation[127]. Risk Management - The company has established a risk management system for foreign exchange hedging, which prohibits speculative and arbitrage trading[70]. - The company plans to actively manage accounts receivable to prevent overdue payments and reduce risks associated with customer defaults[70]. - The company emphasizes the importance of aligning delivery periods with business cycles in its forward foreign exchange transactions[70]. - The cost of copper rods accounts for approximately 60% of the production costs, making copper price fluctuations a significant risk for the company[90]. - The company exports over 90% of its valve and pipe products, primarily priced in USD, exposing it to RMB exchange rate risks[91]. Corporate Governance - The financial report was approved by the board of directors on August 24, 2020, ensuring governance compliance[199]. - The company has not faced any penalties or rectification issues during the reporting period[106]. - The company has fulfilled its commitments regarding shareholding and voting rights[101]. - The company has not undergone any changes in its controlling shareholder or actual controller during the reporting period[145]. - The company appointed a new financial director, Liao Lina, on August 24, 2020, following the resignation of the previous financial director[154]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 15,172[142]. - The largest shareholder, Taizhou Yongjian Holdings Co., Ltd., holds 29.00% of the shares, totaling 58,000,000 shares, which are pledged[142]. - The company has a commitment to reduce stock holdings by no more than 5% of total shares each year after the lock-up period[96]. - The unrestricted shares decreased by 22,458,000 shares, resulting in 177,542,000 unrestricted shares, which is 88.77% of total shares[138]. - The company has a commitment to not reduce its shareholding by more than 25% of total shares during the lock-up period[99]. Compliance and Reporting - The financial report for the half-year period has not been audited[159]. - There were no major litigation or arbitration matters during the reporting period[104]. - The company has not reported any significant environmental violations or penalties during the reporting period[123]. - The company has not initiated any poverty alleviation programs or plans for the reporting year[125]. - The company has not engaged in any related party transactions during the reporting period, including asset or equity acquisitions[110][111][112][113].