Financial Performance - The company's operating revenue for the first half of 2019 was CNY 539,470,706.35, representing a 43.65% increase compared to CNY 375,541,388.61 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 38,265,671.97, up 17.10% from CNY 32,678,776.93 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was CNY 37,920,642.57, reflecting a 21.89% increase from CNY 31,110,111.14 in the same period last year[18]. - The basic earnings per share increased to CNY 0.2890, a rise of 14.96% from CNY 0.2514[18]. - The total profit for the first half of 2019 was CNY 61,268,765.35, compared to CNY 42,851,833.75 in the same period of 2018, reflecting a growth of 43.0%[144]. - The company's total comprehensive income for the first half of 2019 was CNY 50,512,310.52, compared to CNY 36,119,661.26 in the same period of 2018, marking a growth of 39.9%[145]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,288,791,679.87, a 1.30% increase from CNY 1,272,241,247.07 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company were CNY 642,104,813.01, up 6.14% from CNY 604,955,486.84 at the end of the previous year[18]. - The company's total liabilities decreased to CNY 607,017,852.86 from CNY 639,863,384.78 at the end of 2018, indicating a reduction of approximately 5.1%[136]. - The company's total liabilities at the end of the reporting period were CNY 246,520,000, up from CNY 241,010,000 at the beginning[161]. Cash Flow - The net cash flow from operating activities was negative at CNY -94,687,901.20, a decline of 22.31% compared to CNY -76,874,981.47 in the same period last year[18]. - The company's operating cash flow for the first half of 2019 was negative at -94,024,330.54 CNY, compared to -76,874,981.47 CNY in the same period of 2018, indicating a decline in cash generation from operations[153]. - Total cash inflow from operating activities was 519,261,659.33 CNY, while cash outflow was 613,285,989.87 CNY, resulting in a net cash flow from operating activities of -94,024,330.54 CNY[153]. - The company's cash and cash equivalents decreased by 38.84% compared to the beginning of the period, primarily due to rapid business growth leading to an increase in accounts receivable exceeding the growth in accounts payable[32]. Research and Development - The company's R&D investment increased by 24.25% to RMB 20,365,103.97, driven by rising employee compensation and share-based payment expenses[52]. - The company’s ongoing R&D efforts focus on core technologies, with significant advancements in LoRa and NB-IoT applications, leading to new product trials and sales[34]. - The company aims to enhance its research and development capabilities to innovate and improve product offerings in the upcoming quarters[166]. Market and Product Development - The company has developed three major product platforms: smart product platform, metering product platform, and software product platform, providing comprehensive solutions for urban gas operators[26]. - The company’s ultrasonic gas meter, a new type of gas meter, offers high reliability and precision, addressing the needs of various gas users, particularly in northern regions[28]. - The company’s smart gas cloud system has been successfully launched in hundreds of gas companies, supporting refined management and value-added services[28]. - The company has launched an integrated IT solution for small and medium-sized gas companies, leveraging cloud technology and big data[35]. - The company developed over 160 new customers during the reporting period, with sales of over 2 million meters, further increasing market coverage and penetration[46]. Risk Management - The company has reported potential risks and countermeasures in the section discussing operational conditions and analysis[4]. - The smart gas meter industry is closely linked to the overall economic development and infrastructure construction, with potential demand fluctuations due to macroeconomic trends[83]. - The company will actively adapt its business strategies in response to industry cyclical risks and changes in national laws and regulations[84]. Corporate Governance - The financial statements were approved by the board on August 23, 2019, ensuring compliance with corporate governance standards[172]. - The company adheres to the enterprise accounting standards, ensuring the accuracy and completeness of financial reporting[176]. - The half-year financial report has not been audited[91]. Shareholder Information - The total share count was 132,407,050, with 75,736,937 shares (57.20%) being restricted shares before the change, which decreased to 66,961,887 shares (50.57%) after a reduction of 8,775,050 shares[112]. - The total number of ordinary shareholders at the end of the reporting period was 10,650, with significant shareholders including Huang Wenqian holding 22.73% (30,090,600 shares) and Shenzhen Zhongran Technology Co., Ltd. holding 12.23% (16,200,000 shares)[117]. Investment and Capital Allocation - The company has committed a total investment of CNY 22,705.32 million, with a cumulative investment of CNY 14,805.65 million, achieving 65.2% of the planned investment[74]. - The smart gas meter construction project has reached a completion rate of 59.05%, with an investment of CNY 10,328.27 million, and the project is expected to be operational by December 31, 2019[74]. - The company utilized CNY 170 million of idle raised funds for low-risk financial products, generating a return of CNY 1,203,329.20 during the first half of 2019[75].

Revenue and Profit - The company's revenue for Q1 2019 was ¥243,011,345.28, representing a 56.77% increase compared to ¥155,010,507.10 in the same period last year[7] - Net profit attributable to shareholders was ¥13,950,806.59, up 21.72% from ¥11,461,670.25 year-on-year[7] - The net profit after deducting non-recurring gains and losses was ¥13,951,768.99, reflecting a 30.77% increase from ¥10,668,773.91 in the previous year[7] - The basic earnings per share increased to ¥0.1073, a rise of 21.66% compared to ¥0.0882 in the same period last year[7] - Operating revenue increased by 56.77%, primarily due to the expansion of the company's business scale[14] - Operating profit for the period was CNY 23,732,608.69, up from CNY 13,902,081.70 in the previous year, reflecting a growth of 70.5%[35] - Net profit for Q1 2019 was CNY 19,573,368.78, representing a 65.5% increase from CNY 11,860,854.96 in Q1 2018[35] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,214,460,945.05, a decrease of 4.54% from ¥1,272,241,247.07 at the end of the previous year[7] - The company's total assets decreased to CNY 1,060,285,510.11 from CNY 1,132,987,795.61, a decline of 6.4%[32] - Current assets totaled CNY 869,385,660.33, down from CNY 933,470,537.07, indicating a reduction of 6.9%[30] - Total liabilities decreased to CNY 459,823,827.90 from CNY 542,467,127.65, a reduction of 15.2%[31] Cash Flow - The net cash flow from operating activities was -¥107,503,008.79, which is a 15.84% increase in cash outflow compared to -¥92,806,335.97 in the same period last year[7] - Cash received from sales and services grew by 45.30%, attributed to enhanced collection efforts[14] - Cash received from tax refunds surged by 1077.05%, linked to increased revenue and software product refunds[14] - Cash paid for various taxes increased by 170.09%, reflecting the rise in revenue and associated tax liabilities[14] - Cash and cash equivalents decreased by 37.07%, mainly due to the payment of due accounts and last year's bonuses[14] - Total cash and cash equivalents at the end of the period were ¥225,940,783.69, down from ¥359,038,262.00 at the beginning of the period[44] - Net cash flow from operating activities was negative CNY 94.87 million, worsening from negative CNY 87.78 million year-on-year[47] - The net decrease in cash and cash equivalents was CNY 120.38 million, compared to a decrease of CNY 100.59 million in the previous year[48] Expenses - Operating costs rose by 60.70%, corresponding to the increase in revenue[14] - Tax and additional charges surged by 156.61%, driven by the rise in revenue[14] - Other income skyrocketed by 599.38%, mainly due to increased revenue and software product refunds[14] - Total operating expenses increased to ¥176,115,471.47, up from ¥143,418,740.26 in the previous period[43] - Research and development expenses rose to CNY 9,847,436.83, up from CNY 7,940,140.37, reflecting a growth of 24.0%[33] - Research and development expenses increased to ¥9,366,556.27, up 18.5% from ¥7,901,900.88 in the previous period[38] Shareholder Information - The net assets attributable to shareholders increased to ¥621,658,296.78, marking a 2.76% rise from ¥604,955,486.84 at the end of the previous year[7] - The total number of ordinary shareholders at the end of the reporting period was 12,510[10] Other Information - The company reported government subsidies of ¥25,000.00 during the reporting period[8] - The first quarter report was not audited[49] - The company did not apply new financial instrument standards or new revenue standards for the first quarter[49]

Financial Performance - The company's operating revenue for 2018 was CNY 788,547,409.92, representing a 57.24% increase compared to CNY 501,500,787.20 in 2017[15] - The net profit attributable to shareholders for 2018 was CNY 63,025,109.32, an increase of 18.46% from CNY 53,204,476.10 in 2017[15] - The net profit after deducting non-recurring gains and losses was CNY 58,125,004.43, up 21.31% from CNY 47,912,499.70 in the previous year[15] - The net cash flow from operating activities increased by 61.17% to CNY 33,960,924.99 from CNY 21,071,140.05 in 2017[15] - Basic earnings per share for 2018 were CNY 0.480, a 14.29% increase from CNY 0.420 in 2017[15] - Total assets at the end of 2018 reached CNY 1,272,241,247.07, a 43.34% increase from CNY 887,597,372.01 at the end of 2017[15] - The weighted average return on net assets for 2018 was 10.94%, slightly up from 10.85% in 2017[15] Dividend Distribution - The company plans to distribute a cash dividend of CNY 0.50 per 10 shares to all shareholders[4] - In 2018, the company distributed cash dividends of RMB 6,620,352.50, which accounted for 10.50% of the net profit attributable to ordinary shareholders[143] - The cash dividend per 10 shares for 2018 was set at RMB 0.50, with no bonus shares or capital reserve conversion planned[144] - In 2017, the total cash dividend distributed was RMB 10,400,004.00, representing 19.55% of the net profit attributable to ordinary shareholders[143] - The cash dividend distribution plan for 2018 is subject to approval at the annual shareholders' meeting[144] - The company has committed to maintaining a minimum cash dividend ratio of 20% during significant capital expenditure periods[144] Business Operations and Strategy - The company has not changed its main business since its listing[14] - There were no changes in the controlling shareholder during the reporting period[14] - The company has established itself as a leading supplier in the urban gas industry, focusing on smart metering terminals and gas management systems[25] - The company has three major product platforms: smart product platform, metering product platform, and software product platform, enhancing its service offerings to urban gas operators[25] - The company emphasizes a direct sales model complemented by distribution, targeting both domestic and international markets to expand its reach[30] - The company aims to enhance its manufacturing capabilities through the establishment of smart factories and the adoption of lean manufacturing principles[33] Research and Development - The company has over 140 intellectual property projects, including 1 invention patent, 9 utility model patents, and 4 software copyrights obtained in 2018[38] - The company's R&D investment reached ¥41,092,868.88, a 31.18% increase compared to the previous year[86] - The number of R&D personnel increased by 6.92% to 170, representing 25.95% of the total workforce[86] - The focus on R&D will prioritize IoT products, particularly NB-IoT, to improve product stability and reliability, while continuously upgrading the smart gas cloud system[128] Market Position and Growth - The company sold over 3.2 million residential smart gas meters, ranking among the industry leaders[50] - The company developed over 100 new clients during the year, with significant sales growth in key regions such as Shanxi, Hebei, and Henan[50] - The company plans to continue expanding its market share by targeting new customers and markets, particularly in the "coal-to-gas" sector, and enhancing its overseas brand image[127] - The company is one of the leading smart gas solution providers in China, with a complete product line including IC card prepaid gas meters and IoT smart gas meters, maintaining a strong market position in terms of revenue and terminal layout[123][126] Financial Management - The total investment during the reporting period was ¥49,901,617.33, a decrease of 42.27% compared to the previous year[94] - The financial expenses decreased by 77.41% to -¥1,299,388.75, primarily due to reduced fixed-income investment products[85] - The company has not engaged in share repurchase as part of its cash dividend strategy[143] - The company has established a five-year shareholder return plan, ensuring that cash dividends distributed each year will not be less than 20% of the distributable profits achieved in that year[154] Corporate Governance and Compliance - The company has established a robust governance structure to protect the rights of creditors and ensure compliance with contractual obligations[190] - The company is committed to ensuring that its initial public offering prospectus does not contain false records or misleading statements[152] - The company will compensate investors for losses incurred due to any false records or misleading statements in the IPO prospectus[152] - The company has not faced any major litigation or arbitration matters during the reporting period[164] Environmental and Social Responsibility - Environmental protection is integrated into daily operations, with adherence to national standards and ISO14001 certification for environmental management[193] - The company actively participates in social welfare initiatives, contributing to local economic development and job creation[194] - No significant environmental violations reported, as the company and its subsidiaries are not classified as key polluters[197] Shareholder Rights and Communication - The company emphasizes the protection of shareholder rights, ensuring fair treatment and transparent communication with all investors[190] - The board of directors will propose profit distribution plans and submit them for shareholder meeting approval[154] - The company will provide a network voting platform for shareholders during the approval of dividend distribution plans[154]

Financial Performance - Operating revenue for the reporting period reached CNY 199,763,416.34, a 62.36% increase year-on-year[6] - Net profit attributable to shareholders increased by 5.25% to CNY 15,441,299.20 for the reporting period[6] - The net profit after deducting non-recurring gains and losses rose by 23.68% to CNY 14,617,380.96[6] - The company's operating revenue reached ¥575,304,804.95, an increase of 80.42% compared to the same period last year[16] - The estimated net profit attributable to shareholders for 2018 is projected to be between 55 million and 65 million RMB, representing a year-on-year increase of 3.37% to 22.17%[22] - The net profit for 2017 was 53.2045 million RMB, indicating a positive growth trend for the current year[22] Assets and Liabilities - Total assets increased by 29.24% to CNY 1,147,112,484.00 compared to the end of the previous year[6] - Accounts receivable increased by 109.30% to ¥489,601,261.29, primarily due to increased sales not yet settled[14] - Inventory rose by 64.03% to ¥292,719,986.71, driven by a rapid increase in sales orders[14] - The company's total assets increased significantly, with fixed assets rising by 299.07% to ¥100,619,011.22 due to the transfer of construction projects[14] - Short-term borrowings increased to ¥39,500,000.00, attributed to new bank loans[14] Cash Flow - The net cash flow from operating activities was negative at CNY -48,597,764.61, a decrease of 471.66%[6] - The company reported a net cash outflow from operating activities of ¥-125,472,746.08, a decrease of 141.32% year-on-year[18] - The company’s cash and cash equivalents decreased by 401.24% to ¥-126,655,802.40, primarily due to the absence of previous fundraising[18] Shareholder Information - The total number of shareholders at the end of the reporting period was 13,425[10] - The largest shareholder, Huang Wenqian, holds 23.15% of the shares, with 30,090,600 shares pledged[10] - Basic earnings per share decreased by 29.83% to CNY 0.1188[6] - The weighted average return on equity was 2.77%, a slight decrease of 0.03%[6] Expenses and Investments - Research and development expenses increased by 30.00% to ¥27,121,450.41, reflecting higher investment in R&D[16] - The company's management expenses surged by 109.23% to ¥24,361,962.38, mainly due to increased personnel costs[16] - The total amount of entrusted financial management reached 42 million RMB, with 10 million RMB remaining unexpired[26] - The company has invested 24 million RMB in broker financial products and 10 million RMB in bank financial products from idle raised funds[26] Corporate Governance and Compliance - The company has not encountered any non-compliance issues regarding external guarantees during the reporting period[23] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[24] - The company conducted an on-site investor survey on September 14, 2018, to enhance communication with stakeholders[26] Strategic Initiatives - The company has successfully expanded its market presence, particularly in the sales of smart gas meters, contributing positively to revenue and net profit[22] - The company has initiated a restricted stock incentive plan, which was approved by the shareholders on September 18, 2018, to enhance employee motivation and retention[20] - Government subsidies recognized in the current period amounted to CNY 3,122,695.13[7] - The company established a new subsidiary, Hangzhou Xingda Energy Equipment Co., Ltd., with a registered capital of ¥10 million, holding a 60% stake[19]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 375,541,388.61, representing a 91.76% increase compared to CNY 195,837,574.98 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2018 was CNY 32,678,776.93, a 67.53% increase from CNY 19,506,494.18 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was CNY 31,110,111.14, up 64.92% from CNY 18,863,304.83 year-on-year[18]. - The basic earnings per share for the first half of 2018 was CNY 0.2514, a 2.40% increase compared to CNY 0.2455 in the same period last year[18]. - The weighted average return on equity for the first half of 2018 was 5.77%, up from 4.43% in the previous year[18]. - The company achieved operating revenue of ¥375,541,388.61, representing a year-on-year increase of 91.76%[46]. - The net profit attributable to shareholders reached ¥32,678,776.93, an increase of 67.53% compared to the previous year[46]. - The company reported a total profit of CNY 42,851,833.75, compared to CNY 22,628,209.66 in the previous year, an increase of approximately 89.2%[146]. - The tax expense for the period was CNY 6,732,172.49, up from CNY 3,121,715.48, indicating an increase of about 115.5%[146]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 968,017,930.07, a 9.06% increase from CNY 887,597,372.01 at the end of the previous year[18]. - The net assets attributable to shareholders at the end of the reporting period were CNY 572,616,410.39, reflecting a 4.06% increase from CNY 550,286,036.18 at the end of the previous year[18]. - The company's accounts receivable increased to ¥413.34 million, accounting for 42.70% of total assets, which is an increase of 11.32% from the previous year[57]. - The company reported a total liability of CNY 386,964,467.60, up from CNY 332,315,168.08, which is an increase of approximately 16.4%[138]. - Current liabilities rose to CNY 384,868,703.64, compared to CNY 328,828,348.81, reflecting an increase of about 17.0%[138]. Cash Flow - The net cash flow from operating activities was negative CNY 76,874,981.47, worsening by 18.15% compared to negative CNY 65,069,875.54 in the same period last year[18]. - The company’s cash and cash equivalents decreased by 185.95% to -¥99,547,269.50, primarily due to the absence of fundraising from the previous period[49]. - The ending balance of cash and cash equivalents was 189,358,404.39 CNY, down from 227,436,954.44 CNY in the previous period, indicating a decrease in liquidity[159]. - Cash outflow from operating activities totaled 350,926,352.23 CNY, compared to 222,845,436.43 CNY in the previous period, showing an increase in operational expenditures[158]. Investments and R&D - Research and development investment increased by 45.96% to ¥16,390,273.92, reflecting the company's commitment to innovation[49]. - The company has maintained its technological innovation as a core competitive advantage, focusing on embedded software development and communication technology applications, with significant advancements in LoRa and NB-IoT technologies[34]. - The company has established a complete industrial system for ultrasonic products, enhancing its core competitiveness in the market[44]. - The company has successfully implemented automated production and testing processes in its smart factory, improving production efficiency[45]. Market and Competition - The company is actively expanding its international market presence by accelerating product certification and establishing good relationships with overseas distributors[30]. - The company faces industry cyclical risks due to the correlation between the smart gas meter market and the overall economic development, with potential impacts from a slowing economy[80]. - Market competition is intensifying as the expansion of urban gas pipeline networks and the implementation of tiered gas pricing attract new competitors, increasing pressure on market share and profit margins[80]. Corporate Governance and Shareholder Matters - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[5]. - The company held two temporary shareholder meetings and one annual shareholder meeting during the reporting period, with investor participation rates of 49.44% and 50.53% respectively[85]. - The company reported a lock-up period of 12 months for shareholders, during which they cannot transfer or manage their shares[88]. - The company guarantees that any profits from unfulfilled share reduction commitments will be returned to the issuer within 20 days of notification[89]. Risk Management - The company has acknowledged potential risks in its operations and has outlined measures to address them in the report[4]. - The company is actively monitoring market changes and adjusting its operational strategies to mitigate identified risks[80]. Compliance and Reporting - The half-year financial report was not audited, indicating a lack of external verification for the reported figures[91]. - The financial statements of the company comply with accounting standards, accurately reflecting its financial position, operating results, and cash flows[177]. - The company has not experienced any penalties or rectification issues during the reporting period[96]. Miscellaneous - The company has established strong business relationships with major gas groups such as Honghua Gas and China Gas, enhancing its brand recognition and market competitiveness[37]. - The company has continuously improved its quality management system, achieving ISO9001 certification for 11 consecutive years and participating in the formulation of national and industry standards[38]. - The company has reported no significant environmental protection issues and has not engaged in targeted poverty alleviation initiatives during the reporting period[110].

浙江威星智能仪表股份有限公司 2018 年第一季度报告正文 证券代码：002849 证券简称：威星智能 公告编号：2018-037 浙江威星智能仪表股份有限公司 2018 年第一季度报告正文 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。 公司负责人黄文谦、主管会计工作负责人陈智园及会计机构负责人(会计主 管人员)蓝献琴声明：保证季度报告中财务报表的真实、准确、完整。 1 浙江威星智能仪表股份有限公司 2018 年第一季度报告正文 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 单位：元 | 项目 | 年初至报告期期末金额 | 说明 | | --- | --- | --- | | 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 | 939,924.78 | 上期收到的项目补助，本期按收 | | 一标准定额或定量享受的政府补助除外） | | 益期限摊销 | | 除上述各项之外的其他营业外收入和 ...

Financial Performance - The company reported a profit distribution plan of 1.20 RMB per 10 shares (including tax) and a capital reserve increase of 5 shares for every 10 shares held[5]. - The total number of shares for the profit distribution is based on 86,666,700 shares[5]. - The company's operating revenue for 2017 was ¥501,500,787.20, representing a 28.61% increase compared to ¥389,942,168.32 in 2016[16]. - The net profit attributable to shareholders was ¥53,204,476.10, a slight increase of 1.87% from ¥52,228,604.40 in the previous year[16]. - The net profit after deducting non-recurring gains and losses was ¥47,912,499.70, up 5.20% from ¥45,543,209.61 in 2016[16]. - The company's total assets increased by 89.74% to ¥887,597,372.01 at the end of 2017, compared to ¥467,796,621.91 at the end of 2016[16]. - The net assets attributable to shareholders rose by 98.22% to ¥550,286,036.18 from ¥277,613,873.02 in 2016[16]. - The company reported a significant decrease in net cash flow from operating activities, which fell by 48.75% to ¥21,071,140.05 from ¥41,115,995.65 in 2016[16]. - The company achieved a significant increase of 2311.93% in other current assets, mainly due to an increase in deductible VAT input tax[32]. - The company reported a profit of 10,400,004.00 RMB, representing a 19.55% increase compared to 2016's profit of 9,533,337.00 RMB[120]. - The total revenue for 2017 was 53,204,476.10 RMB, up from 52,228,604.40 RMB in 2016, indicating a growth rate of approximately 1.86%[120]. Business Operations - The company operates in the intelligent meter sector, focusing on gas metering solutions[11]. - The company focuses on providing smart metering terminals and gas management systems for the urban gas industry, with a strong emphasis on technological innovation and product development[23]. - The company has developed three major product platforms: smart product platform, metering product platform, and software product platform, catering to various needs of urban gas operators[24]. - The smart gas cloud system, based on years of industry experience, was successfully launched in some companies of Honghua Gas, supporting refined management and value-added services[25]. - The company utilizes advanced ultrasonic metering technology to provide integrated metering solutions, addressing the needs of gas operators for accurate measurement and operational efficiency[25]. - The company launched its smart gas cloud system in 2017, aimed at improving efficiency and reducing management risks for small and medium gas companies[49]. - The company’s ultrasonic gas meter product line was expanded, integrating advanced metering technology with smart features[48]. - The company’s NB-IoT and LoRaWAN IoT products entered mass production, with applications in various gas companies across multiple provinces[47]. Research and Development - R&D investment reached ¥31,324,500, marking a 35.11% increase compared to the previous year[47]. - The number of R&D personnel increased by 24.22% from 128 in 2016 to 159 in 2017, with R&D personnel accounting for 24.65% of the total workforce[69]. - The company has obtained several patents, including 5 software copyrights and 4 utility model patents in 2017[34]. - The company has allocated 100 million RMB for research and development in the upcoming year to innovate new technologies[126]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 5% market share within the next two years[126]. - The company is seizing opportunities from the "Belt and Road" initiative to deepen its overseas market presence and enhance its brand competitiveness[101]. - The company intends to expand its market presence by actively pursuing the "coal-to-gas" market and enhancing its marketing system to improve efficiency and responsiveness[100]. - The company plans to optimize its product structure and accelerate technological innovation, focusing on enhancing the core advantages of its ultrasonic products and expanding the market application of new technologies like LoRa and NB-IoT[98]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and strategies, indicating potential operational risks[5]. - The company faces industry cyclical risks due to the correlation between the smart gas meter market and the overall economic development, with potential demand fluctuations anticipated as the economy enters a new normal[106]. - The company acknowledges market competition risks as the smart gas meter market expands, leading to increased competition and potential pressure on profit margins[109]. - The company plans to adapt its operational strategies in response to market changes and regulatory policies to mitigate cyclical risks[107]. Corporate Governance and Shareholder Relations - The company has a robust cash dividend policy that complies with legal regulations and ensures the protection of minority shareholders' rights[116]. - The company has committed to distributing at least 20% of the annual distributable profits as cash dividends if there are no major investment plans or significant cash expenditures[129]. - The company will ensure that the cash dividend distribution policy remains consistent and sustainable, with a focus on cash dividends as the primary form of return[130]. - The company has pledged to publicly explain any failure to fulfill commitments and apologize to shareholders and the public[130]. - The company will compensate investors for losses incurred due to non-fulfillment of commitments in securities trading[130]. Social Responsibility and Sustainability - The company emphasizes environmental protection and has obtained ISO 14001 certification for its environmental management system[164]. - The company actively engages in social responsibility initiatives, including participation in public welfare activities[165]. - The company has established a comprehensive employee rights protection system, including social insurance and training programs[162]. Shareholder Structure and Changes - The company completed a public offering of 21.67 million shares, increasing total shares from 65 million to 86.67 million[172]. - The controlling shareholder, Huang Wenqian, holds 23.15% of the company's total shares, amounting to 20,060,400 shares[181]. - The total number of shareholders increased to 13,072 by the end of the reporting period[180]. - The company experienced a management change with the appointment of Huang Huabing as the new General Manager on July 21, 2017, following the departure of Fan Huiqun[192].

浙江威星智能仪表股份有限公司 2017 年第三季度报告正文 证券代码：002849 证券简称：威星智能 公告编号：2017-077 浙江威星智能仪表股份有限公司 2017 年第三季度报告正文 1 浙江威星智能仪表股份有限公司 2017 年第三季度报告正文 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。 公司负责人黄文谦、主管会计工作负责人陈智园及会计机构负责人(会计主 管人员)蓝献琴声明：保证季度报告中财务报表的真实、准确、完整。 2 浙江威星智能仪表股份有限公司 2017 年第三季度报告正文 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） | 762,998,777.63 | 467,796,621.91 | | 63.10% | ...

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 195,837,574.98, representing a 12.82% increase compared to CNY 173,586,225.82 in the same period last year[15]. - The net profit attributable to shareholders of the listed company was CNY 19,506,494.18, a 3.11% increase from CNY 18,918,311.42 year-on-year[15]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 18,863,304.83, reflecting a 14.66% increase from CNY 16,451,738.35 in the previous year[15]. - The basic earnings per share decreased by 15.66% to CNY 0.2455 from CNY 0.2911 in the same period last year[15]. - The diluted earnings per share also decreased by 15.66% to CNY 0.2455 compared to CNY 0.2911 in the previous year[15]. - The weighted average return on equity was 4.43%, down 3.49% from 7.92% in the same period last year[15]. - The company reported a significant increase in revenue for the first half of 2017, with a year-on-year growth of 25%[76]. - The net profit for the current period was ¥19,703,689.27, reflecting a growth of 4.8% from ¥18,806,053.86 in the previous period[169]. Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -65,069,875.54, a decline of 95.31% compared to CNY -33,316,174.93 in the same period last year[15]. - The total assets at the end of the reporting period were CNY 678,099,566.53, an increase of 44.96% from CNY 467,796,621.91 at the end of the previous year[15]. - The company's cash and cash equivalents increased by 94.05% compared to the beginning of the period, primarily due to the receipt of raised investment funds[28]. - As of the end of the reporting period, cash and cash equivalents amounted to ¥237,942,579.31, representing 35.09% of total assets, an increase of 20.17% compared to ¥65,540,396.86 (14.92%) in the same period last year[47]. - The total cash and cash equivalents at the end of the period increased to ¥237,242,579.31, compared to ¥62,354,971.86 at the end of the previous period[173]. - The total liabilities at the end of the reporting period were CNY 109,217,000.00, indicating a manageable debt level[188]. Investments and R&D - Research and development investment increased by 11.28% to ¥11,229,440.57[40]. - The company is actively building a smart factory to enhance automation and production efficiency, aligning with the national strategy for intelligent manufacturing[31]. - The company is leveraging advancements in big data and cloud computing to drive innovation in the smart gas meter industry, indicating a trend towards accelerated expansion[27]. - R&D investment has been maintained at a high level, with a focus on developing core technologies and achieving independent intellectual property rights[111]. - The company plans to invest in the construction of a smart gas meter production base and a technology research and development center to enrich its product structure and enhance production capabilities[109]. Market Position and Strategy - The company achieved a market share ranking among the top in the industry, with products widely recognized by major gas groups such as Honghua Gas and China Gas[27]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2018[76]. - The company plans to establish a joint venture with China Gas Group to enhance strategic cooperation and market presence[37]. - The company is exploring potential acquisitions to enhance its product portfolio and market reach[78]. - The company plans to implement a new customer loyalty program, which is expected to increase customer retention by 12%[76]. Profit Distribution and Shareholder Relations - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[4]. - The profit distribution policy states that cash dividends should not be less than 20% of the distributable profits for the year, provided that the company's operational needs are met[84]. - The company emphasizes a stable and continuous profit distribution policy, prioritizing reasonable returns to investors while ensuring sustainable development[82]. - The company has a commitment to listen to and consider the opinions of minority shareholders in its profit distribution decisions[83]. - The company will ensure that the profit distribution policy is strictly followed, considering the opinions of independent directors and minority shareholders[89]. Risks and Challenges - The company faces industry cyclical risks due to the correlation between the smart gas meter market and the overall economic development, with potential demand impact from slowing infrastructure construction[67]. - Market competition is intensifying as the smart gas meter market expands, leading to increased pressure on market share and potential declines in gross margin[67]. - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, clarifying that these do not constitute commitments to investors[69]. Corporate Governance and Compliance - The company has a commitment to avoid conflicts of interest and ensure that all business opportunities are presented to the company[92]. - The company will adhere to legal regulations regarding profit distribution and ensure that any changes are compliant with the China Securities Regulatory Commission[89]. - The board must complete the distribution of dividends within two months after the shareholders' meeting[88]. - The company has fulfilled all commitments made to minority shareholders on time[115]. - The company has not experienced any penalties or rectification situations during the reporting period[118].

Financial Performance - Revenue for Q1 2017 was ¥88,841,503.22, representing a 17.25% increase compared to ¥75,773,536.58 in the same period last year[8] - Net profit attributable to shareholders was ¥6,516,161.93, up 25.35% from ¥5,198,240.17 year-on-year[8] - Net profit excluding non-recurring gains and losses was ¥6,312,273.04, reflecting a 21.43% increase from the previous year[8] - Basic earnings per share decreased by 6.00% to ¥0.0752 from ¥0.08 in the same period last year[8] - The company's net profit for the first half of 2017 is expected to increase by 3.33% to 9.41%, with an estimated range of 17 million to 18 million yuan[17] Cash Flow and Assets - The net cash flow from operating activities was -¥69,598,686.58, a 92.50% decline compared to -¥35,791,525.48 in the same period last year[8] - Total assets at the end of the reporting period reached ¥678,550,965.64, a 45.05% increase from ¥467,796,621.91 at the end of the previous year[8] - Net assets attributable to shareholders increased by 84.84% to ¥513,131,059.01 from ¥277,613,873.02 at the end of the previous year[8] - Cash and cash equivalents increased by 120% compared to the end of the previous year, mainly due to the fundraising from the company's IPO[16] - Accounts receivable increased by 30.82% compared to the end of the previous year, attributed to expanded sales and slower collection in the first quarter[16] - Other receivables increased by 150% compared to the end of the previous year, primarily due to an increase in bid guarantees and personal loans[16] - Short-term borrowings decreased by 100% compared to the end of the previous year, as the company repaid bank loans during the period[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,503[11] - The company received government subsidies amounting to ¥239,869.28 during the reporting period[9] Return on Equity - The weighted average return on equity was 2.33%, slightly up from 2.20% in the previous year[8]