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].

Financial Performance - Revenue for Q1 2020 was CNY 130,945,135.99, a decrease of 4.65% compared to CNY 137,327,723.12 in the same period last year[7] - Net profit attributable to shareholders was CNY 7,777,412.59, down 47.15% from CNY 14,714,968.63 year-on-year[7] - Basic and diluted earnings per share were both CNY 0.0389, reflecting a 47.15% decline from CNY 0.0736 in the same quarter last year[7] - The company reported a total comprehensive income of CNY 7,621,261.78, compared to CNY 14,639,718.94 in the same period last year[49] - Operating profit for the first quarter was CNY 11,908,204.32, down 33.5% from CNY 17,935,755.24 in the previous period[48] - The company reported a 66.03% decline in investment income to ¥574,263.17, mainly due to reduced bank wealth management products[16] - The company incurred a financial expense of CNY 1,765,667.35, slightly up from CNY 1,738,943.99[48] - The tax expense for the quarter was CNY 4,127,024.22, an increase from CNY 3,161,727.38 year-over-year[48] Cash Flow - Net cash flow from operating activities decreased by 64.54%, amounting to CNY 15,137,908.87 compared to CNY 42,686,856.38 in the previous year[7] - Cash inflow from operating activities was CNY 182,382,730.79, down from CNY 193,430,741.47 in the previous period[54] - The total cash outflow from operating activities was ¥167,244,821.92, compared to ¥150,743,885.09 in the previous year, indicating an increase of 10.5%[56] - The net cash flow from investing activities was -¥70,721,066.18, a significant decline from -¥17,367,739.98 year-over-year[56] - Cash and cash equivalents at the end of the period were ¥88,611,922.80, down from ¥97,367,844.38 at the end of the previous year[57] - The company experienced a net increase in cash and cash equivalents of -¥20,583,991.36 during the quarter, compared to -¥7,206,468.74 in the previous year[57] Assets and Liabilities - Total assets increased by 4.85% to CNY 793,193,826.04 from CNY 756,494,685.39 at the end of the previous year[7] - Current liabilities increased to CNY 164,407,476.16 from CNY 137,853,778.47, reflecting a rise of 19.2%[40] - The company’s total liabilities amounted to CNY 175,155,271.75, compared to CNY 148,271,693.97, which is an increase of 18.1%[40] - Total current assets decreased from ¥499,262,457.60 at the end of 2019 to ¥386,094,467.89, reflecting a reduction of about 22.6%[38] - The company’s total equity attributable to shareholders reached CNY 608,222,991.42, with retained earnings of CNY 115,728,694.71[68] Shareholder Information - The total number of shareholders at the end of the reporting period was 17,521[11] - The largest shareholder, Taizhou Yongjian Holding Co., Ltd., held 29.00% of the shares, amounting to 58,000,000 shares[11] Investments and Acquisitions - The company completed the acquisition of 95% equity in Dazhou Zhongke for ¥88.6 million, which will be consolidated into the financial statements[21] - The company also acquired 100% equity in Chengdu Shanshuishang Hotel for ¥126 million, which will be included in the consolidated financial statements[23] - The company completed the acquisition of 95% equity in Dazhou Zhongke Oncology Hospital Co., Ltd. on January 20, 2020[25] - The company announced the acquisition of 100% equity in Chengdu Shanshui Shang Hotel Co., Ltd. on April 2, 2020[25] Expenses - Management expenses increased by 38.48% to ¥14,397,469.35 due to new investments in the healthcare industry[16] - Research and development expenses decreased by 46.13% to ¥2,189,109.63, primarily due to reduced investment during the pandemic[16] Other Financial Information - Non-recurring gains and losses totaled CNY 584,322.06, primarily from government subsidies and investment income[8] - The company has ongoing projects in construction valued at CNY 54,177,621.74, down from CNY 60,674,830.00, indicating a decrease of 8.2%[41] - The company has a total of 1,300 million yuan in bank wealth management products, with a 3.00% annualized return[29] - The company has not reported any significant or low-security, illiquid, or non-principal-protected high-risk entrusted financial management situations[29] - The company has not disclosed any derivative investments during the reporting period[30]

Financial Performance - The company's operating revenue for 2019 was approximately ¥592.06 million, a decrease of 8.12% compared to ¥644.37 million in 2018[15] - The net profit attributable to shareholders for 2019 was approximately ¥60.20 million, down 25.98% from ¥81.33 million in 2018[15] - The net cash flow from operating activities decreased by 39.01% to approximately ¥73.57 million in 2019, compared to ¥120.62 million in 2018[15] - Basic earnings per share for 2019 were ¥0.30, a decline of 26.83% from ¥0.41 in 2018[15] - The total assets at the end of 2019 were approximately ¥756.49 million, a slight decrease of 0.19% from ¥757.90 million at the end of 2018[15] - The net assets attributable to shareholders decreased by 6.13% to approximately ¥608.22 million at the end of 2019, down from ¥647.97 million at the end of 2018[15] - The weighted average return on equity for 2019 was 9.98%, down from 12.95% in 2018, a decrease of 2.97 percentage points[15] - The company reported a decrease in net profit after deducting non-recurring gains and losses, which was approximately ¥57.09 million in 2019, down 34.90% from ¥87.70 million in 2018[15] - Total revenue for the year was 592,058,027.89 CNY, with a quarterly breakdown of 137,327,723.12 CNY in Q1, 163,687,958.09 CNY in Q2, 153,516,127.86 CNY in Q3, and 137,526,217.82 CNY in Q4[19] - Net profit attributable to shareholders for the year was 60,698,518.00 CNY, with quarterly figures of 14,714,968.63 CNY in Q1, 23,391,461.50 CNY in Q2, 18,850,455.50 CNY in Q3, and 3,242,632.37 CNY in Q4[19] - The net cash flow from operating activities was 73,571,355.00 CNY for the year, with negative cash flow in Q3 and Q4 of -2,222,064.50 CNY and -3,804,099.04 CNY respectively[19] - The total revenue for 2019 was CNY 592.06 million, a decrease of CNY 5.23 million or 8.12% compared to the previous year[48] - The net profit attributable to shareholders was CNY 60.20 million, down CNY 2.11 million or 25.98% year-on-year[48] - Sales expenses and management expenses increased by CNY 18.33 million compared to the previous year, impacting profit margins[48] Market and Strategic Focus - The company continues to focus on the production of lead-free brass valves and fittings, which aligns with industry trends towards environmental sustainability[31] - The company is actively exploring new markets in South America and Southeast Asia to expand its customer base and develop its own brand[28] - The global demand for plumbing and heating equipment is expected to grow, driven by urbanization and infrastructure investment in emerging markets[30] - The company maintains strategic partnerships with major international brands such as HONEYWELL and WATTS, primarily operating under ODM and OEM models[28] - The company has established a competitive advantage in the domestic market due to its location in Zhejiang Yuhuan, a major manufacturing hub for plumbing products[32] - The company is actively exploring emerging markets in Southeast Asia, the Middle East, and South America to drive future growth[49] - The company plans to expand into new markets, particularly in emerging markets like Russia, to drive sustainable growth[92] - The company aims to enhance its production efficiency through technology upgrades and automation, targeting to become a preferred supplier in the global water and HVAC sectors[92] Investment and Subsidiaries - The company established a wholly-owned subsidiary, Chengdu Yonghe Cheng Medical Technology Co., Ltd., to expand into the healthcare industry[49] - The company established two new subsidiaries in November 2019, expanding its operational footprint[58] - The company established three new subsidiaries in 2019: Chengdu Yonghe Cheng Medical Technology Co., Ltd., Zhejiang Yonghe Zhikong Technology Co., Ltd., and Xiamen Yonghe Medical Oncology Hospital Co., Ltd.[138] - The company completed the acquisition of 95% of Dazhou Zhongke Tumor Hospital Co., Ltd. for RMB 88.6 million, integrating it into the company's operations[176] - Chengdu Yonghe Cheng invested RMB 25.5 million for a 51% stake in Xiamen Yonghe Medical Oncology Hospital Co., Ltd., expanding its healthcare services[175] Risks and Challenges - The company has indicated various risk factors affecting its operations, including raw material price fluctuations and policy risks[5] - The company faces risks from raw material price fluctuations, particularly copper, which constitutes about 60% of production costs[97] - The company is exposed to foreign exchange risks due to 90% of its sales being in USD, and it has mechanisms in place to mitigate these risks[98] - The company reported a significant decline in sales revenue in the U.S. market due to the impact of the U.S.-China trade war, alongside a downturn in the European economy[86] Cash Dividend Policy - The company does not plan to distribute cash dividends or issue bonus shares for the year[5] - The company proposed not to distribute cash dividends for the fiscal year 2019, nor to issue bonus shares or increase capital from reserves[107] - The cash dividend distribution plan for 2019 is subject to approval at the annual shareholders' meeting[107] - The retained earnings will be carried forward for future distribution, with a commitment to prioritize cash dividends for investors[110] - The company has established a transparent decision-making process for its cash dividend policy, ensuring protection of minority shareholders' rights[106] - The company has committed to avoiding related party transactions that could harm the interests of shareholders[114] Governance and Compliance - The company has not reported any significant discrepancies between financial reports prepared under international accounting standards and those under Chinese accounting standards[17] - The company has not made any adjustments to its cash dividend policy during the reporting period[106] - The company has committed to maintaining a prudent approach to its compensation system and any proposed equity incentive conditions[123] - The company will ensure compliance with regulatory requirements regarding compensation measures and will issue supplementary commitments if necessary[123] - The company has implemented measures to stabilize its stock price through potential share repurchases and management purchases[124] Financial Management - The company has significant restricted assets totaling 22,468,993.59, including cash, fixed assets, and intangible assets[71] - The company’s cash flow remains stable and secure, supported by timely and stable sales returns from quality foreign trade clients[45] - The company’s financial assets at fair value increased significantly, with initial investment costs of 175,067,315.25 and a total of 632,067,315.25 at the end of the period[76] - The company has no significant guarantees during the reporting period[154] - The company has no intention of engaging in similar business activities as Yonghe Shares, ensuring no competition and prioritizing Yonghe Shares in investment opportunities[121] Shareholder Structure - The controlling shareholder, Taizhou Yongjian Holdings Co., Ltd., underwent a division, reducing its stake in the company from 38.25% to 29%[165] - The actual controller of the company is Cao Deli, who has been the chairman since the change of control on November 7, 2019[192] - The largest shareholder, Taizhou Yongjian Holdings Co., Ltd., holds 29.00% of the shares, totaling 58,000,000 shares, with a decrease of 18,497,600 shares during the reporting period[189] - The company has a total of 21,495 shareholders, with 18,453 being common stockholders[189] - There are no other shareholders holding more than 10% of the shares, indicating a concentrated ownership structure[193]

Financial Performance - Operating revenue for the reporting period was CNY 153,516,127.86, down 14.20% year-on-year [7]. - Net profit attributable to shareholders was CNY 18,850,455.50, a decline of 34.78% compared to the same period last year [7]. - Basic earnings per share were CNY 0.0943, reflecting a decrease of 34.74% year-on-year [7]. - The company experienced a decrease in net profit margin, with a net profit margin of approximately 12.27% for the reporting period [7]. - The company's net profit for the period was CNY 28,057,063.04, reflecting a significant decline from CNY 40,365,929.25 in the previous year [53]. - The net profit for the third quarter was CNY 18,850,455.50, down 34.8% from CNY 28,901,921.72 year-over-year [55]. - The total profit for the third quarter was CNY 23,850,303.71, a decrease of 34.0% from CNY 36,151,709.28 in the previous year [54]. - The total profit for Q3 2019 was CNY 69,723,771.32, compared to CNY 74,920,605.50 in the previous year, showing a decrease of about 6.5% [62]. Cash Flow - The net cash flow from operating activities was negative CNY 2,222,064.50, a decrease of 102.88% compared to the same period last year [7]. - Operating cash flow net amount decreased by 29.98% to ¥77,375,455.04 due to a decline in main business revenue [16]. - The net cash flow from operating activities for Q3 2019 was ¥77,375,455.04, a decrease of 30% compared to ¥110,511,027.85 in Q3 2018 [70]. - The total cash inflow from investment activities was ¥526,334,126.34, down from ¥672,233,583.58 in the previous year, reflecting a decline of approximately 22% [71]. - The net cash flow from financing activities was -¥100,000,000.00, compared to -¥51,942,471.42 in Q3 2018, indicating a worsening of 92% [71]. - The cash flow from investment activities generated a net inflow of ¥22,380,140.75, contrasting with a net outflow of -¥50,977,856.68 in Q3 2018 [71]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 703,669,078.35, a decrease of 7.16% compared to the end of the previous year [7]. - The company's current assets totaled ¥495,205,008.17, down from ¥566,349,755.05 in the previous year [44]. - Total liabilities decreased to CNY 98,638,152.60 from CNY 109,935,457.86, a reduction of 10.2% [46]. - The company's equity attributable to shareholders decreased to CNY 605,030,925.75 from CNY 647,967,559.61, a decline of 6.6% [46]. - Inventory levels were reported at ¥120,701,429.76, down from ¥151,822,746.52 [43]. - Non-current assets increased to ¥208,464,070.18 from ¥191,553,262.42 [44]. Shareholder Information - The company reported a total of 20,416 common shareholders at the end of the reporting period [11]. - The largest shareholder, Taizhou Yongjian Holding Co., Ltd., held 29.00% of the shares, amounting to 58,000,000 shares [11]. - The controlling shareholder completed a division of shares, transferring 9.25% to a newly established company, maintaining a 29% stake [17]. - Senior management has committed to limit annual stock transfers to no more than 25% of their total holdings during their tenure [32]. Commitments and Plans - The company committed to not occupying its funds through various means, including lending to itself or related parties [29]. - The company has no plans to engage in any business similar to that of Yonghe Co., ensuring no competition with its own interests [29]. - The company plans to notify the market three trading days in advance of any stock reduction activities [31]. - The company has established a long-term commitment to fulfill its obligations regarding social security and housing fund contributions [28]. - The company has confirmed that all commitments made are being fulfilled on time [28]. Investment and Expenses - Research and development expenses for the quarter were CNY 3,594,895.73, down from CNY 4,243,399.86, a decrease of 15.4% [53]. - Research and development expenses for the third quarter were CNY 3,400,300.08, a decrease of 14.1% from CNY 3,959,970.10 in the same period last year [57]. - The company reported a significant increase in other income to CNY 493,403.95 from CNY 807,516.28, indicating a decrease of 38.8% year-over-year [53]. - The company reported a decline in investment income, resulting in a loss of ¥2,826,244.95 [15].

Financial Performance - The company's operating revenue for the first half of 2019 was ¥301,015,681.21, a decrease of 7.15% compared to ¥324,192,947.41 in the same period last year[17]. - The net profit attributable to shareholders of the listed company increased by 19.45% to ¥38,106,430.13, up from ¥31,901,703.67 in the previous year[17]. - The net cash flow from operating activities surged by 138.10% to ¥79,597,519.54, compared to ¥33,430,890.85 in the same period last year[17]. - Basic earnings per share rose by 19.44% to ¥0.1905, compared to ¥0.1595 in the previous year[17]. - Total assets at the end of the reporting period were ¥698,786,169.04, a decrease of 7.80% from ¥757,903,017.47 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company decreased by 9.54% to ¥586,138,695.28, down from ¥647,967,559.61 at the end of the previous year[17]. - The gross profit margin improved by approximately 4.34 percentage points to 30.33%, influenced by increased export tax rebates and a decrease in raw material prices[47]. - The total comprehensive income for the first half of 2019 was CNY 38,171,135.67, an increase of 19.9% from CNY 31,798,900.85 in the first half of 2018[154]. Revenue Breakdown - The valve product category generated ¥198,112,559.12, accounting for 65.81% of total revenue, down 7.55% from ¥214,294,821.23[45]. - The pipe fittings category saw a significant decline of 17.61%, with revenue of ¥66,801,820.75 compared to ¥81,082,554.95 in the previous year[45]. - Domestic sales amounted to ¥7,345,336.07, down 14.37% from ¥8,577,710.52, while export sales were ¥293,670,345.14, a decrease of 6.95%[45]. - Sales of copper valves and fittings accounted for approximately 95% of the company's total revenue during the reporting period, indicating a high dependency on this segment[78]. Investment and R&D - The company invested RMB 9.30 million in R&D, representing a 14.13% increase year-on-year[43]. - The company's construction in progress increased by 36.32% compared to the beginning of the year, mainly due to investments in fundraising projects[26]. - The project to add an annual production capacity of 30 million sets of lead-free plumbing fittings has seen an investment of RMB 13,574.5 million, achieving a progress rate of 57.31%[65]. - The valve research and testing center project has received RMB 897.3 million, with a progress rate of 29.50%[65]. Cash Flow and Financing - The cash inflow from operating activities was CNY 342,360,863.30, slightly up from CNY 334,774,800.82 in the first half of 2018[156]. - Cash inflow from investment activities totaled ¥368,361,179.35, while cash outflow was ¥375,693,504.80, resulting in a net cash flow of -¥7,332,325.45, contrasting with a positive net cash flow of ¥3,756,802.34 in the previous year[158]. - The company reported a net cash flow from financing activities of -¥100,000,000.00, compared to -¥18,033,931.42 in the first half of 2018, indicating increased cash outflows for financing[159]. - The company paid ¥100,000,000.00 in dividends, significantly higher than the ¥17,056,310.00 paid in the same period last year, reflecting a strategic decision to return more capital to shareholders[162]. Market and Strategic Initiatives - The company is actively exploring new markets, particularly in Eastern Europe and emerging markets, to offset declines in the U.S. market[40]. - The company has established stable cooperative relationships with global key customers, enhancing its competitive advantage[35]. - The company has upgraded production equipment and implemented automation to improve production efficiency and product quality[41]. - The company has committed to managing policy risks effectively, particularly regarding export tax rebate rates that could affect product costs and profitability[79]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[5]. - The controlling shareholder has pledged to increase their shareholding by no less than 1% and no more than 2% of the total share capital within twelve months[91]. - The company has committed that after the lock-up period, the transfer of shares by senior management will not exceed 25% of their total shareholding each year[89]. - The company has not conducted any major litigation or arbitration matters during the reporting period[95]. Risks and Challenges - The main raw material, copper rods, accounts for approximately 60% of production costs, exposing the company to price volatility risks[75]. - The company exports 90% of its products, primarily priced in USD, which subjects it to exchange rate fluctuation risks[76]. - The company faces risks related to the single business focus on fluid control equipment, which could significantly impact performance if the industry experiences major changes[78]. - The fundraising project may face market absorption risks if the global economy or related industries experience significant adverse changes[77]. Compliance and Regulations - The company has complied with environmental laws and has not faced penalties during the reporting period[112]. - The company has not engaged in targeted poverty alleviation work during the reporting period and has no subsequent plans[113]. - The company has not engaged in any related party transactions during the reporting period[101]. - The company has implemented commitments to avoid conflicts of interest and ensure compliance with regulations regarding share transfers and reductions[86].

Financial Performance - The company's revenue for Q1 2019 was ¥137,327,723.12, representing a 4.13% increase compared to ¥131,877,880.48 in the same period last year[7] - Net profit attributable to shareholders increased by 93.71% to ¥14,714,968.63 from ¥7,596,579.48 year-on-year[7] - The net profit after deducting non-recurring gains and losses surged by 216.15% to ¥12,740,264.60 compared to ¥4,029,812.93 in the previous year[7] - Basic earnings per share increased by 93.68% to ¥0.0736 from ¥0.0380 year-on-year[7] - The company reported a total comprehensive income of ¥14,639,718.94, significantly higher than ¥7,479,852.19 from the previous period, marking an increase of approximately 96.5%[47] - The operating profit for the current period was ¥17,935,755.24, compared to ¥9,150,528.22 in the previous period, indicating an increase of approximately 96.5%[46] - The company achieved a total profit of ¥17,876,696.01, up from ¥9,150,118.69, reflecting an increase of approximately 95.5%[46] Cash Flow - The net cash flow from operating activities rose by 90.71% to ¥42,686,856.38 from ¥22,383,480.87 in the same period last year[7] - Operating cash flow increased by 90.71% to approximately 42.69 million, driven by higher customer payments received[17] - The net cash flow from operating activities for the first quarter was CNY 42,686,856.38, an increase of 90.5% compared to CNY 22,383,480.87 in the previous year[54] - The net cash flow from investing activities was -CNY 17,367,739.98, an improvement from -CNY 29,866,121.97 in the same period last year[55] - The net cash flow from financing activities was -CNY 31,875,000.00, compared to -CNY 1,013,326.18, indicating a significant decline in financing activities[55] Assets and Liabilities - Total assets decreased by 5.51% to ¥641,855,769.98 from ¥679,293,912.39 at the end of the previous year[7] - Net assets attributable to shareholders fell by 13.16% to ¥562,724,005.84 from ¥647,967,559.61 at the end of the previous year[7] - Total liabilities rose from ¥109,935,457.86 to ¥163,149,030.48, an increase of approximately 48.2%[37] - Owner's equity decreased from ¥647,967,559.61 to ¥562,724,005.84, a decline of about 13.2%[38] - Current liabilities increased from ¥99,233,610.15 to ¥152,531,945.72, an increase of approximately 53.7%[37] Income and Expenses - Total operating costs decreased to ¥121,818,178.45 from ¥127,049,768.83, a reduction of about 4.3%[44] - Financial expenses decreased to ¥1,738,943.99 from ¥6,865,121.72, a reduction of approximately 74.7%[44] - Research and development expenses for the current period were ¥4,063,536.67, slightly up from ¥3,993,517.34, showing a growth of about 1.8%[44] - The company recorded other income of ¥1,127,244.99, a substantial increase from ¥77,976.50 in the previous period, representing a growth of approximately 1345.5%[44] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 24,298[11] - The company has committed to a share repurchase plan, requiring a minimum of 10% of the previous year's distributable profits for repurchase funds[25] - The controlling shareholder has pledged to increase their shareholding by at least 1% of the total share capital over a twelve-month period[25] Other Information - The company received government subsidies amounting to ¥1,127,244.99, primarily related to social security fee subsidies[8] - Other non-operating income and expenses resulted in a net gain of ¥1,974,704.03 after tax effects[8] - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[29] - The company has not engaged in any research, communication, or interview activities during the reporting period[30] - The company has not reported any violations regarding external guarantees during the reporting period[28] - The company has not provided any forecasts for operating performance for the first half of 2019[26]

Financial Performance - The company's operating revenue for 2018 was ¥644,368,479.02, representing a 17.82% increase compared to ¥546,912,362.09 in 2017[15] - The net profit attributable to shareholders for 2018 was ¥81,332,627.35, a 40.16% increase from ¥58,028,368.05 in the previous year[15] - The net profit after deducting non-recurring gains and losses was ¥87,695,724.58, which is a 62.90% increase from ¥53,833,143.98 in 2017[15] - The net cash flow from operating activities surged by 405.00% to ¥120,619,053.38, compared to ¥23,885,079.43 in 2017[15] - The basic earnings per share for 2018 was ¥0.41, up 41.38% from ¥0.29 in 2017[15] - Operating profit reached 100.13 million yuan, representing a year-on-year growth of 46.30%[45] - The company achieved total operating revenue of 644.37 million yuan, an increase of 17.82% compared to the previous year[45] - The valve product category generated ¥402,633,572.71, accounting for 62.48% of total revenue, with a growth of 11.06% from the previous year[51] - The pipe fittings category saw significant growth of 59.88%, with revenue of ¥148,411,189.53, increasing from ¥92,827,586.18 in 2017[51] - Gross profit margin improved to 28.92%, up 1.50 percentage points from the previous year, with a gross profit of ¥186,369,742.18[53] Assets and Liabilities - The total assets at the end of 2018 were ¥757,903,017.47, a slight decrease of 0.38% from ¥760,808,222.10 at the end of 2017[16] - The net assets attributable to shareholders increased by 5.06% to ¥647,967,559.61 from ¥616,751,659.55 in 2017[16] - The company reduced accounts receivable and notes receivable by 35.50 million yuan, a decrease of 24.37% from the beginning of the year[31] - The company reported a total of 110,170,894.84 CNY in accounts receivable and accounts payable combined for the current period[120] - The company’s previous period accounts receivable and accounts payable combined amounted to 145,666,427.58 CNY[120] Cash Flow and Investments - Operating cash inflow increased by 35.95% to ¥757,781,021.64 compared to ¥557,406,573.29 in 2017[62] - Investment cash inflow rose by 57.24% to ¥884,157,738.36, while investment cash outflow increased by 69.88% to ¥912,168,862.06, resulting in a net cash flow from investing activities of -¥28,011,123.70[62] - The company's cash and cash equivalents increased by ¥42,509,146.60, reversing a decrease of ¥2,563,338.94 in the previous year[62] - The company reported a net investment loss of ¥9,349,776.57, primarily due to losses from foreign exchange forward contracts[66] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥5.00 per 10 shares, based on a total of 200,000,000 shares[4] - The cash dividend for 2018 represents 122.95% of the net profit attributable to shareholders, which was 81,332,627.35 CNY[107] - The company has maintained a consistent cash dividend policy over the past three years, with no changes to the profit distribution plan[102] - The cash dividend payout ratio for 2018 is 100% of the total distributable profit[107] Market and Industry Position - The company has established itself as a key supplier for major international brands such as HONEYWELL and WATTS, primarily through ODM and OEM models[26] - The company is actively exploring self-owned brand plans in emerging markets such as Eastern Europe, South America, and Southeast Asia[26] - The global demand for plumbing materials is driven by urbanization in developed countries and emerging markets, creating stable demand for the industry[28] - The company operates in a cyclical industry, with demand influenced by fixed asset investment, real estate investment, and infrastructure investment[28] Research and Development - The company has 28 patented technologies and multiple non-patented technologies, showcasing strong R&D capabilities[37] - The company is focusing on the development of new products, including copper and carbon steel pressing products, which have completed certification in parts of Europe and America[60] - The company completed the development and small-scale production of new products, which are expected to become new profit growth points[46] Risk Factors - The company has highlighted various risk factors affecting its operations, including raw material price fluctuations and policy risks[4] - The company is exposed to raw material price fluctuations, with copper rods accounting for about 60% of production costs, and is implementing strategies to mitigate these risks[92] - The company recognizes the risk of policy changes affecting export tax rebates, which could negatively impact profitability, especially in the U.S. market where it holds a 50% sales share[97] Corporate Governance and Management - The company has established a comprehensive quality management system to ensure high-quality product delivery[155] - The company emphasizes a "people-oriented" management culture, supporting employee needs and enhancing cohesion[154] - The company has a structured compensation and assessment system for determining salaries of directors and senior management[193] - The company has maintained its accounting firm, with the current auditor being Lixin Accounting Firm for 8 years, and the audit fee for the period was ¥850,000[125] Employee and Workforce - The total number of employees in the company is 913, with 564 in the parent company and 349 in major subsidiaries[195] - The company has 590 production personnel, 25 sales personnel, 87 technical personnel, 18 financial personnel, 155 administrative personnel, and 38 quality inspection personnel[195] - The company emphasizes a compensation policy that aligns individual goals with corporate performance to achieve a win-win situation[196] Social Responsibility and Environmental Commitment - The company actively engages in social responsibility, integrating it into its internal operations and corporate culture[150] - The company is committed to building an environmentally friendly and resource-saving enterprise[156] - The company does not belong to the key pollutant discharge units as per environmental protection department announcements[160]

Financial Performance - Operating revenue for the reporting period was CNY 178,916,607.98, an increase of 20.60% year-on-year [8]. - Net profit attributable to shareholders was CNY 28,901,921.72, representing a significant increase of 110.83% compared to the same period last year [8]. - The company reported a net profit of CNY 60,803,625.39 for the year-to-date, an increase of 38.67% compared to the same period last year [8]. - Basic earnings per share were CNY 0.15, up 114.29% from the previous year [8]. - The estimated net profit attributable to shareholders for 2018 is projected to be between ¥63.83 million and ¥81.24 million, representing a growth of 10% to 40% compared to the previous year [27]. - The net profit for 2017 was ¥58.03 million, indicating a positive growth trajectory for 2018 [27]. Cash Flow and Assets - The net cash flow from operating activities reached CNY 77,080,137.00, a remarkable increase of 783.80% year-on-year [8]. - Cash and cash equivalents decreased by 33.28% to ¥68,850,346.65 due to repayment of bank loans [16]. - The net cash flow from operating activities was significantly positive at ¥110,511,027.85, indicating strong cash generation capabilities [18]. - Total assets at the end of the reporting period were CNY 747,525,634.15, a decrease of 1.75% compared to the end of the previous year [8]. Shareholder Information - The company has a total of 32,308 common shareholders at the end of the reporting period [12]. - The largest shareholder, Taizhou Yongjian Holding Co., Ltd., holds 38.25% of the shares, amounting to 76,497,600 shares [12]. - The company has not conducted any repurchase transactions among the top 10 shareholders during the reporting period [13]. - Major shareholders have pledged to limit their share reduction to no more than 5% of total shares per year after the lock-up period [22]. - The controlling shareholder has committed to increasing their shareholding by at least 1% of the total share capital over a 12-month period [26]. - Directors and senior management are required to use at least 30% of their annual salary for share purchases within a year, promoting alignment with shareholder interests [26]. Financial Management - The total amount of entrusted financial management reached CNY 53,020,000, with an unexpired balance of CNY 20,800,000 [32]. - The company invested CNY 45,720,000 in bank wealth management products sourced from temporarily idle raised funds [32]. - The annualized return on a structured bank deposit was 4.40%, with a total income of CNY 6.99 million [32]. - The company has no violations regarding external guarantees during the reporting period [30]. - The company has maintained a focus on financial management with a total of CNY 1,400,000 in a wealth management product yielding 3.80% [34]. - The company has invested a total of 20,800,000 in various financial products, with an average return rate of 3.80% [35]. Operational Expenses - Sales expenses increased by 51.86% to ¥22,689,661.76, driven by growth in sales scale and related costs [18]. - Income tax expenses rose by 70.38% to ¥14,116,980.11, reflecting increased operating income and profit [18]. - The company reported a 316.71% increase in asset impairment losses to ¥6,179,836.45, mainly due to increased provisions for inventory and bad debts [18]. Future Outlook - The company attributes its performance to a differentiated competitive strategy and a first-mover advantage in lead-free products, establishing stable partnerships with high-end clients in Europe and the US [27]. - The company expects stable revenue growth in the fourth quarter of 2018, supported by existing orders and order expansion [27]. Compliance and Governance - The company emphasizes compliance with fair trading conditions in any related party transactions to protect shareholder interests [24]. - The company has no overdue amounts that have not been recovered from entrusted financial management [32]. - There were no instances of expected inability to recover principal or other potential impairment situations reported during the period [36]. - The company did not engage in any research, communication, or interview activities during the reporting period [36].

永和流体智控股份有限公司 永和流体智控股份有限公司 2017 年第三季度报告全文 2017 年第三季度报告 2017 年 10 月 1 永和流体智控股份有限公司 2017 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。 公司负责人应雪青、主管会计工作负责人吴晚雪及会计机构负责人(会计主 管人员)陈赛伟声明：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 2017 年第三季度报告全文 第二节 公司基本情况 非经常性损益项目和金额 单位：元 | 项目 | 年初至报告期期末金额 | 说明 | | --- | --- | --- | | 非流动资产处置损益（包括已计提资产减值准备的冲销部分） | -154,876.03 | | | 计入当期损益的政府补助（与企业业务密切相关，按照国家统 | 802,909.41 | | | 一标准定额或定量享受的政府补助除外） | | | | 委托他人投资或管理资产的损益 ...

Financial Performance - The company's operating revenue for the first half of 2017 was RMB 259,190,695.73, representing a 12.41% increase compared to RMB 230,578,431.65 in the same period last year[17]. - The net profit attributable to shareholders of the listed company decreased by 13.92% to RMB 30,139,158.42 from RMB 35,014,070.42 year-on-year[17]. - Basic earnings per share decreased by 28.57% to RMB 0.15 from RMB 0.21 in the same period last year[17]. - The total profit for the first half of 2017 was CNY 35,728,967.93, a decrease of 15.06% compared to CNY 42,164,682.39 in the same period of 2016[140]. - The total comprehensive income attributable to the parent company was CNY 30,139,158.42, down from CNY 35,014,070.42 in the previous year[141]. Cash Flow - The net cash flow from operating activities dropped significantly by 79.82%, amounting to RMB 11,866,522.10 compared to RMB 58,792,562.93 in the previous year[17]. - The net cash flow from investment activities was CNY 64,059,434.97, a turnaround from a negative cash flow of CNY -2,760,477.58 in the previous period[149]. - The net cash flow from financing activities was CNY -50,000,886.87, a decrease from a positive cash flow of CNY 205,079,510.81 in the previous period[149]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 675,946,666.23, a decrease of 3.14% from RMB 697,873,465.45 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company decreased by 3.26% to RMB 588,862,449.92 from RMB 608,723,291.50[17]. - The total liabilities decreased from CNY 89,150,173.95 to CNY 87,084,216.31, a reduction of about 2.3%[132]. Investments and Subsidiaries - The company established a wholly-owned subsidiary in the United States to expand its market share in North America[31]. - The company has established a new subsidiary for the development and assembly of plumbing products, with an investment of $500,000[48]. - The company has not made any significant non-equity investments during the reporting period[49]. Market and Sales - Domestic sales dropped significantly by 66.51%, totaling ¥4,441,754.52, while foreign sales increased by 17.23% to ¥254,748,941.21[39]. - Approximately 90% of the company's revenue comes from exports, making it vulnerable to exchange rate fluctuations, particularly with the USD[66]. Governance and Compliance - The company is focused on enhancing governance and risk management to adapt to changing internal and external conditions[68]. - The company commits to reducing its shareholding within 24 months after the lock-up period ends, with notifications to be made three trading days in advance for each reduction[78]. - The company has made commitments regarding share transfer restrictions for its major shareholders, lasting up to 36 months post-IPO[76]. Research and Development - Research and development expenses increased slightly by 0.73% to CNY 7.28 million[35]. - The company has successfully transitioned to lead-free products, establishing a competitive advantage in the U.S. market[24]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[5]. - Major shareholders have pledged not to transfer shares for 24 months after the lock-up period, with specific limits on the amount that can be sold annually[77]. - The largest shareholder, Taizhou Yongjian Holdings Co., Ltd., holds 38.25% of the shares, totaling 76,497,600 shares, with 28,500,000 shares pledged[115]. Financial Management - The company has approved the use of up to RMB 184 million of temporarily idle funds for purchasing financial products with high safety and liquidity[57]. - The company reported a significant increase in investment cash flow by 2,420.59% to CNY 64.06 million, mainly due to the redemption of financial products[35]. Risk Factors - The company is facing risks related to raw material price fluctuations, particularly copper, which constitutes about 60% of production costs[66]. - The company is recognized as a high-tech enterprise, enjoying a 15% income tax rate benefit, which is set to expire in September 2017 unless re-certified[68].