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 fell by 38.10% to RMB 0.26, compared to RMB 0.42 in the same period last year[17]. - The company reported a total profit of CNY 35,728,967.93, down from CNY 42,164,682.39 in the same period last year[139]. - The company’s total comprehensive income for the period was 39,582,084.45 yuan, reflecting a decrease of 10,417,915.55 yuan compared to the previous period[160]. Cash Flow and Liquidity - The net cash flow from operating activities dropped significantly by 79.82% to RMB 11,866,522.10, down from RMB 58,792,562.93 in the previous year[17]. - The company’s operating cash flow decreased by 79.82% to 11.87 million yuan, primarily due to increased cash payments for services[35]. - Cash and cash equivalents at the end of the period totaled CNY 66,989,426.16, down from CNY 256,344,376.77 in the previous period[151]. - The net increase in cash and cash equivalents was CNY 18,345,896.65, down from CNY 251,620,967.31 in the previous period[151]. 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 company's equity decreased from CNY 608,723,291.50 to CNY 588,862,449.92, a decline of approximately 3.3%[132]. - The company's total liabilities decreased from CNY 89,150,173.95 to CNY 87,084,216.31, a reduction of approximately 2.3%[131]. 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 established a new subsidiary with an investment of $500,000, focusing on the research and development of smart control heating equipment[48]. - The company has committed a total investment of RMB 32,821.27 million, with a cumulative input of RMB 14,592.95 million, achieving an investment progress of 44.4%[56]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - Major shareholders have pledged not to transfer or manage their shares for 12 to 36 months following the IPO, depending on the specific agreement[75]. - The total number of common shareholders at the end of the reporting period is 27,525[114]. Risk Management - The company faces risks from fluctuations in raw material prices, particularly copper, which constitutes approximately 60% of production costs[66]. - The company has implemented forward foreign exchange transactions to mitigate risks from currency fluctuations, although these may not fully align with business settlements[66]. - The company is actively monitoring the risk of tax policy changes that could impact profitability if high-tech enterprise status is not renewed[68]. Governance and Compliance - The company plans to strengthen its governance and risk management mechanisms to adapt to changing internal and external conditions[68]. - The company has established a commitment to ensure compliance with various shareholder agreements and promises made during the IPO process[74]. - The financial statements were approved by the board of directors on August 17, 2017[166]. Accounting Policies - The company adheres to the accounting standards, ensuring that financial statements accurately reflect its financial position, operating results, and cash flows[171]. - The company recognizes cash and cash equivalents as cash on hand and deposits that are readily available for payment, along with short-term, highly liquid investments[185]. - The company employs an aging analysis method for group impairment provisions on receivables, indicating a structured approach to credit risk management[199].

Financial Performance - The company's revenue for Q1 2017 was ¥107,159,610.09, representing a 3.90% increase compared to ¥103,134,371.46 in the same period last year[8] - Net profit attributable to shareholders decreased by 16.91% to ¥12,070,335.28 from ¥14,527,206.53 year-on-year[8] - Basic and diluted earnings per share fell by 36.84% to ¥0.12 from ¥0.19 in the same period last year[8] - The weighted average return on equity decreased to 1.96%, down from 6.63% year-on-year, indicating a decline in profitability[8] - The company reported a basic earnings per share of ¥0.12, down 36.84% from ¥0.19 in the previous year, primarily due to the issuance of 25 million A-shares in April 2016[16] - The net profit attributable to shareholders for the first half of 2017 is expected to be between 29.76 million and 40.27 million RMB, reflecting a change of -15.00% to 15.00% compared to the same period in 2016[34] - The net profit for the first half of 2016 was 35.01 million RMB, indicating a stable operational performance for the company in 2017[34] - The company anticipates that the fluctuation in performance will remain within 15% due to stable business conditions and no significant changes in key operational factors[34] Cash Flow and Liquidity - The net cash flow from operating activities dropped significantly by 64.33%, amounting to ¥15,743,481.18 compared to ¥44,138,016.77 in the previous year[8] - The company's net cash flow from operating activities decreased by 64.33% to ¥15,743,481.18 compared to ¥44,138,016.77 in the previous year, primarily due to reduced sales receipts and increased procurement payments[17] - Cash and cash equivalents rose to 78.10 million RMB from 64.59 million RMB, showing an increase in liquidity[41] - The company received CNY 13,081,088.83 in tax refunds, up from CNY 5,854,276.42 in the previous year, representing a 123.0% increase[56] - Total cash outflow from operating activities was CNY 113,100,723.22, compared to CNY 92,757,154.07 in the previous year, an increase of 21.9%[55] - The company raised CNY 27,010,932.03 through borrowings, while cash outflows for debt repayment were CNY 25,505,772.39[57] Assets and Liabilities - Total assets at the end of the reporting period were ¥697,465,314.30, a slight decrease of 0.06% from ¥697,873,465.45 at the end of the previous year[8] - The total liabilities decreased from 89.15 million RMB to 76.67 million RMB, indicating improved financial stability[43] - The total equity attributable to shareholders increased from 608.72 million RMB to 620.79 million RMB, reflecting a positive trend in shareholder value[43] - As of March 31, 2017, the total assets amounted to 697.47 million RMB, slightly down from 697.87 million RMB at the beginning of the period[42] - The company's total equity increased to CNY 590,248,086.62 in Q1 2017 from CNY 580,672,855.58 in Q1 2016, reflecting a growth of 1.0%[47] Shareholder Information - The total number of shareholders at the end of the reporting period was 21,281, with the top ten shareholders holding significant stakes[12] - The largest shareholder, Taizhou Yongjian Holding Co., Ltd., held 38.25% of the shares, amounting to 38,248,800 shares, with a portion pledged[12] - The actual controllers of the company, including Xueqing and Xianyun Chen, committed to not transferring or entrusting the management of their shares for 36 months post-IPO, with an extension of 6 months if certain price conditions are met[25] - The controlling shareholder has committed to increasing their shareholding by at least 1% but not exceeding 2% of the total share capital over a 12-month period[33] - Directors and senior management are obligated to use at least 30% of their annual salary for share purchases over a 12-month period, capped at 80%[33] Operational Expenses - Sales expenses increased by 38.19% to ¥4,301,364.63, attributed to higher marketing and exhibition costs to actively expand the market[16] - Management expenses rose to CNY 11,420,385.49 in Q1 2017 from CNY 10,837,629.38 in Q1 2016, marking an increase of 5.4%[50] Investment and Restructuring - The company reported non-recurring gains and losses totaling ¥532,213.43 for the period[9] - The company has not completed the equity investment in Ningbo Meishan Free Trade Port Area Kun Jing New Source Investment Management Partnership (Limited Partnership) as of the report date[21] - The company is undergoing a major asset restructuring process, with stock trading suspended since December 2, 2016, and is currently seeking to continue the suspension[19] - The company has established measures to stabilize stock prices, including share buybacks and commitments from major shareholders to support share price stability[32] Compliance and Governance - The company reported no instances of non-compliance with external guarantees or non-operating fund occupation by major shareholders during the reporting period[35][36] - Major shareholders and directors have committed to not using their positions to harm the interests of the company or its shareholders[31] - The company has made commitments regarding related party transactions and competition, which are being strictly adhered to[24] - The company has no current or future plans to engage in any business that competes directly or indirectly with its own operations[30] Fair Value and Investment Income - Investment income surged by 1997.33% to ¥1,136,632.09, resulting from returns on financial products purchased with idle raised funds[16] - The fair value change loss was ¥484,320.55, a decrease of 219.84% compared to a gain of ¥404,128.15 in the previous year, mainly due to the decline in the fair value of forward foreign exchange contracts[16]

Financial Performance - The company's operating revenue for 2016 was CNY 455,992,960.64, a decrease of 4.59% compared to CNY 477,914,694.68 in 2015[17]. - The net profit attributable to shareholders of the listed company was CNY 67,377,816.74, an increase of 2.08% from CNY 66,001,772.05 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was CNY 60,852,595.92, down 5.80% from CNY 64,600,005.32 in 2015[17]. - The net cash flow from operating activities was CNY 67,835,750.73, reflecting a 2.77% increase from CNY 66,008,997.75 in 2015[17]. - Basic and diluted earnings per share were both CNY 0.74, a decrease of 15.91% from CNY 0.88 in 2015[17]. - The weighted average return on equity was 14.48%, down 14.99% from 29.47% in the previous year[17]. - Total assets at the end of 2016 reached CNY 697,873,465.45, a significant increase of 65.88% from CNY 420,697,267.65 at the end of 2015[17]. Dividend and Share Issuance - The company plans to distribute a cash dividend of CNY 5.00 per 10 shares (including tax) to all shareholders[4]. - The company issued 25 million shares in its initial public offering, raising a total of CNY 37,125,000[18]. Revenue and Profit Trends - In Q1 2023, the company's operating revenue was approximately CNY 103.13 million, with a net profit attributable to shareholders of CNY 14.53 million[20]. - The operating revenue in Q2 2023 increased to approximately CNY 127.44 million, while the net profit attributable to shareholders rose to CNY 20.49 million, marking a significant growth[20]. - The net cash flow from operating activities in Q3 2023 was CNY 10.57 million, a decrease compared to CNY 14.65 million in Q2 2023, and turned negative in Q4 2023 at CNY -1.53 million[20]. - The company reported a net profit attributable to shareholders of CNY 17.60 million in Q4 2023, showing a recovery from Q3's CNY 14.76 million[20]. Business Operations and Strategy - The company primarily engages in the research, manufacturing, and sales of fluid control equipment, including various copper plumbing valves and fittings[25]. - The company operates under an OEM and ODM business model, collaborating with well-known international brands for product design and manufacturing[28]. - The industry is characterized by cyclical demand influenced by fixed asset investment and real estate development, with no significant seasonal trends observed[30]. - The company is located in Zhejiang Province, known as the "Valve Capital of China," benefiting from a strong industrial cluster and supply chain[30]. Asset Management and Investments - The company reported an increase in other current assets of CNY 219.47 million, primarily from investing idle funds in financial products[31]. - The company has committed to a project to add an annual production capacity of 30 million sets of lead-free plumbing equipment, with a total investment of ¥23,684.52 million, of which 31.73% has been completed[75]. - The valve research and testing center project has an investment of ¥3,041.75 million, with 26.20% of the project completed[75]. Risk Management and Compliance - The company has outlined potential risks and countermeasures in its future development strategy[4]. - The company has been recognized as a high-tech enterprise, allowing it to enjoy a 15% income tax preferential rate, but risks exist if re-certification is not achieved after the certificate expires[89]. - The company reported a significant risk due to customer concentration, with the top ten customers accounting for a high proportion of total sales, potentially impacting future performance if major clients face difficulties[88]. Corporate Governance and Shareholder Relations - The company has engaged in multiple investor relations activities throughout 2016 to maintain transparency and communication with stakeholders[90]. - The company held three shareholder meetings during the reporting period to ensure the rights of all shareholders, especially minority shareholders[121]. - The board of directors emphasizes a commitment to corporate governance and transparency, ensuring compliance with regulatory standards[149]. Employee Management and Development - The total number of employees in the company is 898, with 539 in the parent company and 359 in major subsidiaries[157]. - The company aims to provide competitive salaries to enhance employee execution and responsibility awareness[159]. - The company plans to improve employee skills through annual training programs focusing on various aspects including professional skills and safety management[160]. Legal Matters - The company is involved in a lawsuit initiated by Quick Fitting Inc. regarding alleged infringement of trade secrets, with the potential liability amounting to 3.8 million USD[108]. - The actual controller of the company has provided a written commitment to bear economic responsibilities and losses arising from the lawsuit, ensuring that it will not significantly impact the company's operations[109].

Financial Performance - Total assets at the end of the reporting period reached ¥657,494,923.62, an increase of 56.29% compared to the previous year[8] - Net assets attributable to shareholders of the listed company amounted to ¥590,052,995.77, reflecting a significant increase of 178.37% year-on-year[8] - Operating revenue for the reporting period was ¥112,407,868.40, representing a growth of 19.90% compared to the same period last year[8] - Net profit attributable to shareholders of the listed company was ¥14,761,189.38, up by 10.41% year-on-year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥14,465,040.56, an increase of 10.90% compared to the same period last year[8] - The basic earnings per share for the reporting period was ¥0.15, a decrease of 16.67% compared to the previous year[8] - The weighted average return on net assets was 2.53%, down by 3.42% year-on-year[8] - Net profit for the first nine months of 2016 rose by 69.05% to ¥122.10 million from ¥72.23 million, reflecting improved operational performance[16] Cash Flow and Assets - The net cash flow from operating activities for the year-to-date was ¥69,365,054.67, an increase of 10.13% compared to the same period last year[8] - As of September 30, 2016, cash and cash equivalents increased by 2,191.05% to ¥280.52 million from ¥12.24 million due to funds raised from a public offering in April 2016[16] - Accounts receivable decreased by 52.19% to ¥5.26 million from ¥11 million, primarily due to the collection of matured acceptance bills during the reporting period[16] - Short-term borrowings were eliminated, decreasing by 100% from ¥131.49 million as the company repaid bank loans during the reporting period[16] - The company's capital reserve increased by 767.92% to ¥342.70 million from ¥39.48 million, attributed to the premium from the public offering[16] - Cash flow from financing activities showed a significant increase of 308.27%, reaching ¥202.58 million compared to a negative cash flow of ¥97.27 million in the same period last year, driven by the public offering[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,355[12] - The top ten shareholders held a combined 73.88% of the company's shares, with the largest shareholder holding 38.25%[12] - The controlling shareholder promises to increase their shareholding by no less than 1% and no more than 2% of the total share capital within twelve months[27] - The company will notify the market three trading days in advance of any share reduction by its directors and senior management after the lock-up period[22] Future Outlook and Commitments - The company plans to continue expanding its market presence and investing in new technologies and products to drive future growth[18] - The company expects a net profit attributable to shareholders for 2016 to range from 5,940.16 million to 7,920.22 million, reflecting a change of -10.00% to 20.00% compared to the previous year[28] - The net profit for 2015 was reported at 6,600.18 million[28] - The company commits to not engaging in any business that directly or indirectly competes with Yonghe Co., ensuring no harm to its interests or those of its shareholders[23] - The company will not occupy funds or assets from its subsidiaries for any reason, ensuring financial integrity[25] Compliance and Governance - There are no reported violations regarding external guarantees during the reporting period[30] - The company has not experienced any non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[31] - The company plans to stabilize its stock price through share repurchase if the stock price falls below the audited net asset value per share for twenty consecutive trading days[26] Investor Relations - The company has conducted investor relations activities, including site visits by institutions on July 5 and September 20, 2016[32]

Financial Performance - The company's operating revenue for the first half of 2016 was RMB 230,578,431.65, a decrease of 7.64% compared to RMB 249,653,830.68 in the same period last year[21]. - The net profit attributable to shareholders of the listed company increased by 9.67% to RMB 35,014,070.42, up from RMB 31,926,927.43 in the previous year[21]. - The net cash flow from operating activities was RMB 58,792,562.93, representing a 14.39% increase from RMB 51,397,696.10 in the same period last year[21]. - Basic earnings per share decreased by 2.33% to RMB 0.42 from RMB 0.43 in the same period last year[21]. - The weighted average return on net assets was 10.33%, down 4.73% from 15.06% in the previous year[21]. - The gross profit margin for main products was 31%, up by 1.81% compared to the previous year[34]. - The total comprehensive income for the period was CNY 35,426,780.18, compared to CNY 44,309,745.34 in the previous period, indicating a decrease[136]. Assets and Liabilities - Total assets at the end of the reporting period reached RMB 658,890,419.15, a significant increase of 56.62% from RMB 420,697,267.65 at the end of the previous year[21]. - The total liabilities decreased from RMB 208,729,353.49 to RMB 83,695,734.57 during the reporting period[125]. - Cash and cash equivalents at the end of the reporting period were RMB 273,355,645.34, compared to RMB 12,244,049.18 at the beginning[123]. - Accounts receivable stood at RMB 116,710,231.41, showing a slight decrease from RMB 116,915,799.78[123]. - Inventory decreased from RMB 94,224,486.90 to RMB 83,017,865.26 during the reporting period[123]. Share Capital and Ownership - The registered capital increased from RMB 75 million to RMB 100 million as of July 19, 2016[18]. - The total number of shares increased from 75,000,000 to 100,000,000 due to the public offering of 25,000,000 A-shares[105]. - The largest shareholder, Taizhou Yongjian Holdings Co., Ltd., holds 38.25% of the shares, totaling 38,248,800 shares[110]. - Foreign investment accounts for 29.83% of the total shares, with 22,376,175 shares held by Xun Cheng Trading Co., Ltd.[110]. Investment and Fund Management - The total amount of raised funds is RMB 328.21 million, with a net amount of RMB 328.21 million after deducting issuance costs of RMB 43.04 million[54]. - During the reporting period, the company invested a total of RMB 64.25 million from the raised funds, with a cumulative investment of RMB 139.91 million as of June 30, 2016[55]. - The company has temporarily idle raised funds, which are being managed through entrusted financial management[49]. - The total amount of entrusted financial management funds is RMB 187.90 million[49]. Corporate Governance and Compliance - The company has maintained compliance with corporate governance standards as per relevant laws and regulations, ensuring investor confidence[72]. - The company has not reported any litigation situations during the reporting period[49]. - The company has not engaged in any asset acquisitions or sales during the reporting period, reflecting a focus on organic growth[78][79]. - The company has not reported any media controversies, reflecting a positive public perception[76]. Future Outlook and Strategic Plans - The company emphasizes that forward-looking statements regarding operational plans and development strategies do not constitute substantive commitments to investors[5]. - The expected net profit for the period from January to September 2016 is projected to be between RMB 4,161.72 million and RMB 5,548.96 million, reflecting a year-on-year change of -10.00% to 20.00%[65]. - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[5]. Research and Development - The company increased its R&D investment to CNY 7.23 million, although this represented a decrease of 10.53% from the previous year[37]. - The company emphasized technological innovation and improvement in production quality, implementing systematic management practices[32][42]. Financial Reporting and Audit - The half-year financial report has not been audited[98]. - The financial report for the first half of 2016 was not audited[121].

Financial Performance - Revenue for Q1 2016 was CNY 103,134,371.46, a decrease of 6.07% compared to CNY 109,804,595.34 in the same period last year[8]. - Net profit attributable to shareholders was CNY 14,527,206.53, down 4.95% from CNY 15,283,439.79 year-on-year[8]. - Net profit excluding non-recurring items was CNY 13,036,008.51, reflecting an 8.50% decline from CNY 14,246,874.11 in the previous year[8]. - Operating revenue for Q1 2016 was CNY 71,174,327.86, a decrease from CNY 83,453,719.10 in the previous period[51]. - Net profit for Q1 2016 was CNY 10,497,094.71, down from CNY 31,127,054.19 in the same period last year, representing a decline of approximately 66.3%[53]. - Basic and diluted earnings per share for Q1 2016 were both CNY 0.14, compared to CNY 0.42 in the previous year, indicating a decrease of 66.7%[53]. - Operating profit for Q1 2016 was CNY 10,760,678.02, significantly lower than CNY 33,356,001.76 in the prior year, reflecting a decline of about 67.8%[52]. - Total comprehensive income for Q1 2016 was CNY 10,497,094.71, down from CNY 31,127,054.19 in the same period last year[53]. Cash Flow and Liquidity - Operating cash flow increased by 7.77% to CNY 44,138,016.77, compared to CNY 40,955,581.71 in the same period last year[8]. - Cash flow from investment activities showed a significant decline of 6886.43%, resulting in a net outflow of CNY 2,022,147.06[21]. - Cash flow from financing activities decreased by 99.01%, with a net outflow of CNY 356,478.04, indicating a change in financing needs[21]. - Cash and cash equivalents at the end of Q1 2016 were CNY 54,003,440.85, slightly up from CNY 52,926,583.32 at the end of the previous period[57]. - The net cash flow from operating activities for the current period is ¥27,493,765.84, a decrease of 14.9% compared to ¥32,081,762.48 in the previous period[58]. - Total cash inflow from operating activities is ¥92,883,666.59, down from ¥97,573,708.52, reflecting a decline of 4.5%[58]. - Cash outflow from operating activities is ¥65,389,900.75, slightly decreased from ¥65,491,946.04, indicating a stable cash outflow[58]. - The ending balance of cash and cash equivalents is ¥26,433,510.66, down from ¥40,774,223.20 in the previous period[61]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 421,628,545.93, a slight increase of 0.22% from CNY 420,697,267.65 at the end of the previous year[8]. - The company's total assets at the end of the quarter were CNY 346,724,341.63, slightly down from CNY 353,255,112.79 at the beginning of the period[44]. - Current liabilities totaled CNY 141,088,566.03, a decrease from CNY 158,092,141.24[45]. - The company's equity attributable to shareholders increased to CNY 200,852,880.23 from CNY 190,355,785.52, representing an increase of approximately 5.23%[45]. - The company's short-term borrowings increased to 133,000,000.00 RMB from 131,494,840.36 RMB, reflecting a slight rise in leverage[40]. Shareholder Commitments and Governance - The company has committed to not transferring or entrusting the management of shares held prior to the IPO for 36 months from the listing date, with an extension of 6 months if certain price conditions are met[25]. - The company plans to reduce shareholdings by no more than 5% of total shares held each year after the lock-up period ends, with a minimum selling price not lower than the IPO price[26]. - The company has no direct or indirect involvement in any business similar to its own and will prioritize opportunities for its shareholders[28]. - The commitments made by shareholders and management are being fulfilled as scheduled[24]. - The company has committed to not using its controlling shareholder status to harm the interests of the company or other shareholders[30]. - There were no instances of non-operating fund occupation by the controlling shareholder or its affiliates during the reporting period[34]. - The company has not engaged in any related party transactions that would compromise its financial integrity[33]. Operational Efficiency - Operating costs amounted to CNY 87,531,872.18, down from CNY 92,547,065.30[48]. - The company's accounts receivable decreased to 98,040,723.72 RMB from 116,915,799.78 RMB, indicating improved cash flow management[39]. - The inventory level as of March 31, 2016, was 83,943,427.94 RMB, down from 94,224,486.90 RMB, suggesting better inventory turnover[39]. - The accounts payable decreased to 41,673,733.85 RMB from 49,552,603.84 RMB, indicating improved payment practices[40]. - Sales expenses decreased to CNY 1,608,745.90 from CNY 2,223,423.20 in the previous year, a reduction of approximately 27.6%[52]. - Financial expenses increased to CNY 1,574,625.22 from CNY 861,274.07, marking an increase of about 83.0%[52].