Financial Performance - The company's operating revenue for the first half of 2021 was ¥46,821,852.04, representing a 2.33% increase compared to ¥45,756,925.77 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was -¥164,064.74, a decrease of 105.78% from ¥2,837,636.13 in the previous year[21]. - The net cash flow from operating activities was ¥67,432.86, down 99.10% from ¥7,528,149.19 in the same period last year[21]. - The basic earnings per share were -¥0.0013, a decline of 105.86% compared to ¥0.0222 in the previous year[21]. - Total assets at the end of the reporting period were ¥595,720,963.65, a decrease of 6.48% from ¥637,010,408.88 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company were ¥494,708,953.69, a slight decrease of 0.03% from ¥494,873,018.43 at the end of the previous year[21]. - The company reported a significant increase in non-recurring losses, with a total of -¥15,816.92 from various non-operating income and expenses[26]. - The company faced a decrease in the weighted average return on net assets, which was -0.03%, down from 0.58% in the previous year[21]. - The company reported a 110.21% increase in net cash flow from financing activities, reaching ¥839,792.18 compared to -¥8,222,772.70 in the previous year, mainly due to reduced profit distribution[36]. - The total comprehensive income for the first half of 2021 was -4,094,199.39 CNY, compared to 1,979,310.76 CNY in the same period of 2020[142]. Revenue and Costs - Operating costs decreased by 12.41% to ¥27,137,274.36 from ¥30,983,121.42, primarily due to a reduction in material costs[36]. - Revenue from the electric energy metering supporting product series increased by 23.35% to ¥30,778,860.26, while the revenue from the electric energy meter standard and calibration device series decreased by 19.47% to ¥13,110,382.45[37]. - The Northeast region experienced a significant revenue decline of 49.55%, while the North China region saw an increase of 48.80% in revenue[41]. - The company’s sales expenses rose significantly by 36.60% to ¥14,764,679.52 from ¥10,808,593.59, indicating increased marketing efforts[36]. Research and Development - The company reported a research and development investment of 7.44 million yuan, an increase of 31.33% compared to the same period last year[33]. - Research and development expenses increased by 31.33% to ¥7,441,665.95 from ¥5,666,273.37, reflecting normal business operations[36]. - The company has established several technology research centers to enhance its innovation capabilities and maintain a competitive edge in the market[33]. Business Operations - The company maintains a focus on the production, testing, and sales of electric energy meters, with no significant changes in its main business operations during the reporting period[29]. - The company’s core component suppliers are primarily well-known domestic and international enterprises, ensuring stable supply chains[31]. - The company’s sales model is primarily direct sales, with a significant portion of revenue generated through competitive bidding processes with electric grid companies[32]. - The company has developed over a hundred products covering the entire lifecycle of electric energy meters, supported by advanced technologies in automation and communication[29]. - The company’s production model is shifting towards large-scale, standardized production, driven by order-based manufacturing[31]. - The company plans to enhance its production and development of standard calibration products and energy measurement products to maintain competitive advantages[58]. Financial Position - Cash and cash equivalents at the end of the reporting period amounted to ¥200,246,617, accounting for 33.61% of total assets, a decrease from 32.20% at the end of the previous year[46]. - Accounts receivable decreased to ¥95,521,377.3, representing 16.03% of total assets, down from 21.38% due to increased cash receipts and reduced operating income[46]. - Inventory increased to ¥57,985,268.3, making up 9.73% of total assets, up from 6.46%, primarily due to increased production needs[46]. - Construction in progress rose to ¥96,251,899.9, accounting for 16.16% of total assets, an increase from 14.06% due to payments for new factory construction[46]. - The company reported a significant reduction in accounts payable, which decreased to CNY 45,226,455.73 from CNY 62,205,398.31, a decline of approximately 27.3%[126]. Shareholder Information - The company held three temporary shareholder meetings and one annual shareholder meeting in 2021, with investor participation rates of 62.14% and 62.15% for the temporary meetings[61]. - The company did not distribute cash dividends, issue bonus shares, or convert capital reserves into share capital for the first half of 2021[64]. - The company has no significant related party transactions during the reporting period, including asset or equity acquisitions, joint investments, or related debt transactions[88][89][90][91][92]. - The total number of ordinary shareholders at the end of the reporting period was 4,914[109]. - The company executed a share transfer agreement involving 11,974,670 shares, representing 9.36% of the total share capital, at a price of 17.18 CNY per share[102]. Compliance and Governance - The semi-annual financial report has not been audited[79]. - The company and its subsidiaries are not classified as key pollutant discharge units by environmental protection authorities and faced no administrative penalties for environmental issues during the reporting period[68]. - The company has not engaged in poverty alleviation or rural revitalization efforts during the reporting period[69]. - The company has no overdue or unrecovered amounts from entrusted financial management, indicating effective risk management[93]. - The company has not engaged in any significant equity or non-equity investments during the reporting period[51][52]. Future Outlook - The company plans to continue focusing on R&D and market expansion strategies to improve future performance[135]. - The report does not provide any future outlook or performance guidance[150]. - The company has not outlined any new strategies in this report[150].

证券代码：002857 证券简称：三晖电气 公告编号：2021-080 郑州三晖电气股份有限公司 关于参加河南辖区上市公司 2021 年投资者网上集体接 待日活动的公告 | --- | |-------------------------------------------------------------------------------------------------| | | | 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 | | 为进一步加强与投资者的互动交流，郑州三晖电气股份有限公司（以下简称 | | "公司"）定于 2021 年 6 月 8 日（周二） 16:00-17：20 | | "真诚沟通 传递价值"河南辖区上市公司 2021 年投资者网上集体接待日活动， | | 本次活动将采用网络远程的方式举行，投资者可登录"全景•路演天下" | | （ http://rs.p5w.net ）参与本次互动交流。 | | 出席本次网上集体接待日活动的人员有：公司董事会秘书徐丽红、财务总监 | | 王虹，欢迎广大投资者积极参与。 | | 特此公告。 ...

Financial Performance - The company's operating revenue for Q1 2021 was ¥18,394,513.29, representing a 237.89% increase compared to ¥5,443,966.91 in the same period last year[8] - The net profit attributable to shareholders was -¥3,581,115.46, a decrease of 179.09% from -¥1,283,130.47 year-on-year[8] - The company reported a basic earnings per share of -¥0.030, a decline of 200.00% from -¥0.010 in the previous year[8] - The weighted average return on net assets was -0.73%, down 0.46% from -0.27% year-on-year[8] - The net loss for the quarter was CNY 4,107,174.61, compared to a net loss of CNY 1,336,814.23 in the previous year, reflecting a deterioration in performance[48] - The total profit (loss) for the quarter was -CNY 3,982,185.66, compared to -CNY 1,267,432.51 in the same period last year[47] - The total comprehensive income for the quarter was -CNY 4,107,174.61, compared to -CNY 1,336,814.23 in the previous year, indicating a worsening financial position[48] Cash Flow - The net cash flow from operating activities was -¥5,964,005.53, down 121.31% from ¥27,990,325.09 in the previous year[8] - The net cash flow from operating activities was -5,964,005.53 CNY, a significant decrease compared to 27,990,325.09 CNY in the previous period, indicating a decline in operational performance[51] - Cash inflows from operating activities totaled CNY 48,092,638.39, down from CNY 73,999,666.49 in the previous year, a decline of about 34.9%[50] - The total cash inflow from operating activities was 35,415,531.55 CNY, significantly lower than 60,885,146.66 CNY in the previous period, suggesting reduced sales or service revenue[54] - The net cash flow from investing activities was -42,034,796.98 CNY, compared to -4,861,104.13 CNY previously, showing a worsening investment cash flow situation[52] - The net cash flow from financing activities was 1,168,077.98 CNY, down from 2,281,940.40 CNY, suggesting reduced financing activities[52] Assets and Liabilities - Total assets at the end of the reporting period were ¥613,784,021.81, a decrease of 3.65% from ¥637,010,408.88 at the end of the previous year[8] - The company's cash and cash equivalents decreased by 23.52% to ¥156,877,783.13 due to reduced sales collections and increased purchases of bank financial products[15] - Current liabilities decreased from CNY 142,137,390.45 to CNY 122,492,118.84, a reduction of approximately 13.8%[35] - The total liabilities remained unchanged at CNY 122,492,118.84, indicating no new long-term debt incurred during the period[39] - The company's retained earnings decreased from CNY 221,265,759.95 to CNY 217,684,644.49, a decline of approximately 1.3%[36] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 5,601[11] - The top shareholder, Yu Wenbiao, holds 12.47% of the shares, amounting to 15,966,232 shares, with 11,974,674 shares under pledge[11] Operational Costs and Expenses - Operating costs rose to 11,033,001.09, reflecting a 156.50% increase from 4,301,340.67, driven by the increase in revenue[18] - The company reported a significant increase in sales expenses, which rose by 147.42% to 7,913,731.46 from 3,198,539.89, indicating higher marketing efforts[18] - Research and development expenses increased by 66.14% to 3,688,245.40 from 2,220,019.35, indicating a focus on innovation and product development[18] - The company incurred a credit impairment loss of CNY 932,229.22, compared to CNY 802,344.52 in the previous year, indicating an increase in credit risk[47] Investment Activities - The total amount of funds raised for investment projects was 17,647.43, with 10,693.86 invested to date, indicating a progress rate of 60.54%[22] - The company has ongoing major contracts, including a project with Yunnan Electric Power Company valued at 40,953,000.00, currently in progress[25] - Total cash outflow from investing activities amounted to 142,692,423.52 CNY, up from 93,621,619.50 CNY in the prior period, reflecting increased investment expenditures[52] - The cash inflow from investment activities was 67,007,062.50 CNY, compared to 60,557,333.33 CNY previously, reflecting a positive trend in investment recovery[55] - The cash outflow for other investment activities was 86,500,000.00 CNY, up from 60,000,000.00 CNY, indicating increased capital expenditures[55]

Financial Performance - The company's operating revenue for 2020 was CNY 211,728,010.60, a decrease of 20.53% compared to CNY 266,430,855.23 in 2019[16] - The net profit attributable to shareholders for 2020 was CNY 23,424,300.30, down 26.49% from CNY 31,863,536.71 in the previous year[16] - The net profit after deducting non-recurring gains and losses was CNY 15,787,934.90, a decline of 41.31% from CNY 26,898,317.76 in 2019[16] - The basic earnings per share for 2020 were CNY 0.18, down 28.00% from CNY 0.25 in 2019[16] - The weighted average return on equity was 4.72%, a decrease from 6.73% in the previous year[16] - The company achieved operating revenue of 211.73 million yuan in 2020, a decrease of 20.53% year-on-year, and a net profit of 23.42 million yuan, down 26.49% year-on-year[33] Cash Flow and Assets - The net cash flow from operating activities increased by 35.09% to CNY 69,141,124.78, compared to CNY 51,182,155.12 in 2019[16] - The total assets at the end of 2020 were CNY 637,010,408.88, reflecting a 4.04% increase from CNY 612,262,239.94 at the end of 2019[16] - The net assets attributable to shareholders increased by 2.19% to CNY 494,873,018.43 from CNY 484,248,718.13 in 2019[16] - The net cash flow from investment activities was -¥16,576,550.57, indicating a significant decrease due to increased purchases of financial products[55] - The company reported a total of 88,000,000.00 in trading financial assets at the beginning of the period, with a fair value change of 585,500,000.00 and a closing balance of 592,000,000.00[62] Research and Development - The company's research and development expenditure reached ¥15.75 million in 2020, representing a 4.8% increase year-on-year and accounting for 7.44% of total revenue[29] - R&D investment amounted to 15.75 million yuan, representing a 4.80% increase compared to the previous year, supporting project development and technological innovation[33] - The number of R&D personnel increased to 113, making up 26.58% of the total workforce, up from 22.51% the previous year[53] - The company has applied for a total of 130 patents, including 27 invention patents, and has been granted 106 patents, including 11 invention patents[29] Market and Sales - The sales volume of the standard and calibration device series decreased by 98.34% year-on-year, primarily due to production capacity constraints caused by the pandemic[42] - The sales volume of the energy measurement supporting product series fell by 50.80% year-on-year, also attributed to insufficient production capacity due to the pandemic[43] - The Northeast region saw a revenue increase of 114.38% year-on-year, while the North China region experienced a significant decline of 78.53%[38] - The total sales amount from the top five customers is ¥59,870,483.74, accounting for 28.28% of the annual total sales[47] - The largest customer, State Grid Jilin Electric Power Co., Ltd., contributed ¥15,733,837.16, representing 7.43% of the annual sales[47] Governance and Compliance - The company maintains strict compliance with information disclosure regulations, ensuring transparency in operations and preventing insider trading[34] - The company has established a framework for shareholders to report any changes in their shareholdings promptly, ensuring compliance with regulations[104] - The management team has made commitments to not engage in activities that harm the company's interests or those of its shareholders[110] - The company emphasizes transparency in information disclosure, adhering to principles of accuracy and timeliness[187] - The company's governance structure aligns with regulatory standards set by the China Securities Regulatory Commission[189] Shareholder Commitments - The company did not propose any cash dividends or bonus shares for the year[5] - The company did not propose any cash dividend distribution for the 2020 fiscal year, despite having a positive profit available for distribution[102] - The actual controller and shareholders have committed to consistent voting rights and proposal rights, ensuring unified actions in shareholder meetings since March 22, 2020, and are currently fulfilling this commitment[103] - The company will adjust the number of shares and the minimum selling price in case of any corporate actions like dividends or stock splits during the holding period[105] - The company is actively working on strategies to enhance shareholder value and maintain market confidence through these commitments[105] Management and Workforce - The company employed a total of 425 staff, with 346 in the parent company and 79 in major subsidiaries[178] - The total remuneration paid to directors, supervisors, and senior management in 2020 amounted to CNY 3.873 million[176] - The management team has a diverse educational background, including degrees in engineering and business, which supports the company's strategic initiatives[172][173] - The company has implemented a competitive salary policy and a fair performance evaluation mechanism for employees[179] - The company’s operational strategy includes a focus on quality management, led by Vice General Manager Guo Quanzhou, who has been in the role since April 2015[174] Risks and Challenges - The company faces uncertainties regarding its ability to continue as a going concern, as indicated in the audit report[16] - The company faces risks related to policy dependence, particularly from the electric power industry, which could impact business development if macro policies change unfavorably[89] - Increased market competition is anticipated as more competitors enter the instrumentation industry, prompting the company to enhance innovation and optimize product structure[90] - The company has identified risks associated with fundraising project construction, which may not yield expected returns within the anticipated timeframe[93] Miscellaneous - The company has not engaged in any significant equity or non-equity investments during the reporting period[64][65][66] - The company did not experience any major litigation or arbitration matters during the reporting period[118] - The company has maintained a good credit status, with no instances of dishonesty or failure to fulfill court judgments during the reporting period[120] - The company has not reported any other shareholders holding more than 10% of the shares during the reporting period[160]

Financial Performance - Operating revenue for the reporting period was CNY 69,685,857.09, down 13.09% year-on-year and down 22.26% compared to the same period last year[9] - Net profit attributable to shareholders was CNY 6,957,737.37, a decrease of 31.72% compared to the same period last year[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 6,004,736.01, down 39.15% year-on-year[9] - Basic earnings per share were CNY 0.0544, down 31.66% year-on-year[9] - Operating profit for the quarter was CNY 6,343,620.57, down 48.3% from CNY 12,277,863.48 year-over-year[43] - Net profit for the third quarter was CNY 6,957,737.37, a decline of 31.5% compared to CNY 10,189,335.72 in the same period last year[43] - The total profit for the quarter was CNY 7,464,798.64, down 37.5% from CNY 11,987,586.87 year-over-year[43] - The company reported a total profit of CNY 9,265,861.48, down 31.5% from CNY 13,443,944.05 in the same quarter last year[50] Cash Flow - The net cash flow from operating activities was CNY 6,345,260.32, an increase of 194.55% compared to the same period last year[9] - Cash flow from operating activities increased by 130.02% to 13,873,409.51, attributed to increased sales collections and reduced payments[17] - The net cash flow from operating activities was 13,873,409.51 CNY, a significant improvement compared to -46,218,120.02 CNY in the previous period[59] - Total cash inflow from investment activities was 290,420,837.74 CNY, while cash outflow was 310,660,111.77 CNY, resulting in a net cash flow of -20,239,274.03 CNY[59] - Cash inflow from financing activities was 8,712,053.20 CNY, with cash outflow totaling 18,110,493.28 CNY, leading to a net cash flow of -9,398,440.08 CNY[60] Assets and Liabilities - Total assets at the end of the reporting period were CNY 571,535,306.51, a decrease of 6.65% compared to the end of the previous year[9] - Total current assets decreased to CNY 459,189,595.34 from CNY 515,119,341.03, reflecting a decline of approximately 10.8%[32] - Total non-current assets increased to CNY 112,345,711.17 from CNY 97,142,898.91, representing an increase of approximately 15.6%[33] - Total current liabilities decreased to CNY 90,291,214.88 from CNY 128,013,521.81, a reduction of approximately 29.5%[34] - Total owner's equity decreased to CNY 481,244,091.63 from CNY 484,248,718.13, a slight decline of about 0.6%[35] - Cash and cash equivalents decreased to CNY 145,620,407.03 from CNY 166,704,040.41, a decrease of approximately 12.6%[32] Shareholder Information - The total number of shareholders at the end of the reporting period was 6,638[13] - The largest shareholder, Yu Wenbiao, holds 12.47% of the shares, amounting to 15,966,232 shares[13] Expenses - Research and development expenses increased to CNY 5,263,669.34, up 58.9% from CNY 3,314,896.59 year-over-year[42] - The company experienced a significant increase in sales expenses, which rose to CNY 13,238,783.75, up 101.1% from CNY 6,577,400.25 in the previous year[42] - The company reported a total operating cost of CNY 62,054,187.51, down 9.3% from CNY 68,384,805.39 in the previous year[42] Non-Recurring Items - The company reported a total of CNY 5,698,403.77 in non-recurring gains and losses for the year-to-date[10] - The company reported a significant increase in non-operating income by 2704.58% to 1,122,758.10, primarily from increased bad debt recovery[17] Investment Activities - The company has unused fundraising balance of 4,188,300.00, held in a dedicated fundraising account[23] - The total fundraising amount reached 176,474,288.64, with cumulative investment of 93,370,800.00[22] - The net cash flow from investment activities decreased by 261.06% to -20,239,274.03, primarily due to reduced redemption of financial products[17] Other Financial Metrics - The weighted average return on net assets was 1.46%, a decrease of 0.75% compared to the same period last year[9] - The company recorded a financial expense of CNY -2,518,219.27, compared to CNY -1,397,789.09 in the previous year, indicating a rise in financial costs[50]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥45,756,925.77, a decrease of 33.03% compared to ¥68,324,484.92 in the same period last year[19]. - The net profit attributable to shareholders was ¥2,837,636.13, an increase of 15.86% from ¥2,449,113.91 in the previous year[19]. - The net cash flow from operating activities improved significantly to ¥7,528,149.19, compared to a negative cash flow of ¥39,506,760.12 in the same period last year, marking a 119.06% increase[19]. - The company's revenue for the reporting period was ¥45,756,925.77, a decrease of 33.03% compared to ¥68,324,484.92 in the same period last year, primarily due to the impact of the pandemic on production resumption[49]. - Operating costs decreased by 31.43% to ¥30,983,121.42 from ¥45,187,019.33, mainly due to the reduction in revenue[49]. - Research and development expenses fell by 24.83% to ¥5,666,273.37 from ¥7,537,725.43, attributed to delays in production resumption caused by the pandemic[49]. - The company reported a significant increase in other income, which rose by 14.03% to ¥5,592,662.33, mainly due to increased government subsidies received[49]. - The total comprehensive income for the first half of 2020 was CNY 1,979,310.76, a decrease of CNY 1,172,131.07 compared to the same period in 2019[159]. Assets and Liabilities - Total assets at the end of the reporting period were ¥565,248,720.15, down 7.68% from ¥612,262,239.94 at the end of the previous year[19]. - The company's net assets attributable to shareholders decreased by 2.06% to ¥474,286,354.26 from ¥484,248,718.13 at the end of the previous year[19]. - The company's cash and cash equivalents decreased by 78.83% to ¥-11,593,481.55, primarily due to a reduction in purchased financial products[49]. - The total amount of financial assets increased from ¥88 million to ¥93.5 million, with an addition of ¥5.5 million during the reporting period[61]. - The total liabilities decreased to CNY 90,962,365.89 from CNY 128,013,521.81, a reduction of approximately 29%[146]. - The company's equity attributable to shareholders decreased to CNY 474,286,354.26 from CNY 484,248,718.13, a decline of about 2.0%[147]. Dividends and Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for this period[7]. - The company plans to distribute a cash dividend of 1.00 yuan per share (including tax) based on a total share capital of 128 million shares[45]. - The company reported a profit distribution to shareholders of 12,800,000.00 CNY during the first half of 2020[179]. - The total number of ordinary shareholders at the end of the reporting period is 6,779[125]. - The largest shareholder, Yu Wenbiao, holds 12.47% of the shares, totaling 15,966,232 shares, with a pledge of 3,991,558 shares[126]. Research and Development - The company continues to focus on the research and development of energy meters and related technologies, maintaining its core business model without significant changes[27]. - The company has implemented measures to enhance research and development capabilities, focusing on technologies such as smart sensors and digital feedback[41]. - The company applied for 5 new patents during the reporting period, bringing the total to 133 authorized patents, including 17 invention patents and 93 utility model patents[33]. - The company plans to continue investing in research and development to innovate and upgrade its product structure in response to the impacts of the COVID-19 pandemic[86]. Operational Strategies - The company has established a comprehensive procurement control system to enhance cost management and supplier selection[28]. - The company maintains a direct sales model and has established a nationwide sales network, with power grid companies being the most important customers[30]. - The company emphasizes brand building and aims to leverage its brand advantages for sustainable growth[34]. - The company aims to enhance its market expansion strategies and product development in the upcoming quarters[154]. - The company is exploring potential mergers and acquisitions to strengthen its market position[181]. Compliance and Governance - The company has maintained compliance with environmental regulations and has no major environmental issues reported[113]. - The company has no significant litigation or arbitration matters during the reporting period[96]. - The company did not undergo any changes in its board of directors, supervisors, or senior management during the reporting period[137]. - The financial report for the first half of 2020 was not audited[142]. Financial Strategy and Outlook - The company’s financial strategy includes a focus on comprehensive income and equity management to enhance shareholder value[169]. - The company’s performance metrics suggest a cautious outlook for future growth, emphasizing the importance of reserve management[169]. - The company is committed to transparency in its financial reporting, ensuring stakeholders are informed of its financial health and strategic direction[167]. - The company has not provided specific future guidance or outlook in the report[171].

Financial Performance - The company's operating revenue for 2019 was CNY 266,430,855.23, representing a 15.13% increase compared to CNY 231,420,762.29 in 2018[17] - The net profit attributable to shareholders for 2019 was CNY 31,863,536.71, a decrease of 13.35% from CNY 36,771,720.72 in the previous year[17] - The net cash flow from operating activities increased by 65.47% to CNY 51,182,155.12, up from CNY 30,930,553.69 in 2018[17] - The basic earnings per share for 2019 was CNY 0.25, down 13.79% from CNY 0.29 in 2018[17] - The total assets at the end of 2019 were CNY 612,262,239.94, a decrease of 1.93% from CNY 624,336,095.89 at the end of 2018[18] - The net assets attributable to shareholders increased by 5.85% to CNY 484,248,718.13, compared to CNY 457,505,181.42 at the end of 2018[18] - The company reported a quarterly revenue of CNY 117,927,443.29 in Q4 2019, which was the highest among the four quarters[22] - The company experienced a net profit of CNY 19,225,087.08 in Q4 2019, marking a significant recovery from previous quarters[22] Research and Development - The company's research and development expenses amounted to ¥1,502.58 million, representing 5.64% of total revenue, with a year-on-year increase of 10.19%[39] - The company has established a strong R&D platform and has been recognized as an innovative enterprise in Henan Province[39] - The company holds 133 authorized patents/software copyrights, including 12 invention patents and 92 utility model patents[39] - The company applied for 20 patents/software copyrights during the reporting period, including 4 invention patents[49] - The company plans to increase its R&D investment and technological innovation, particularly in electronic technology, IoT, and cloud computing, to improve the overall efficiency of smart meter manufacturing and automated testing[96] Market and Sales - The revenue from the electric energy meter standard and calibration device series was ¥134,415,051.44, accounting for 50.45% of total revenue, down 6.85% from the previous year[52] - The revenue from electric energy measurement supporting products increased by 41.75% to ¥101,317,521.67, representing 38.03% of total revenue[52] - The company’s sales expenses increased by 38.45% compared to the previous year, reflecting enhanced market development efforts[47] - The sales volume of standard and calibration electric meters increased by 73.43% to 940 units in 2019, while production volume rose by 90.66% to 959 units[56] - The sales volume of electric energy metering supporting products decreased by 33.51% to 387,263 units, with production volume down by 34.24% to 378,355 units[57] Financial Stability - The company’s debt ratio decreased from 24.11% at the beginning of the year to 17.63%, improving financial stability[49] - The total cash inflow from financing activities surged by 356.31% to 32,652,931.52 yuan, attributed to increased bank acceptance bills[69] - The company reported a net profit of 31,863,536.71 yuan, with a significant difference from the cash flow due to a decrease in operating payables[70] - As of the end of 2019, cash and cash equivalents increased to ¥166,704,040.41, representing 27.23% of total assets, up from 19.38% at the beginning of the year, reflecting an increase of 7.85% due to higher sales collections[74] Dividend Distribution - The company plans to distribute a cash dividend of CNY 1 per 10 shares, based on a total of 128,000,000 shares[6] - The company declared a cash dividend of CNY 12,800,000 for the fiscal year 2019, which represents 40.17% of the net profit attributable to ordinary shareholders[109] - The total distributable profit for 2019 was CNY 212,351,402.94, with the cash dividend accounting for 100% of the profit distribution[109] - The company did not propose any stock dividends or capital increases for the 2019 fiscal year[110] Corporate Governance - The company has established operational constraints to protect investor interests and ensure accountability among its executives[118] - The management team is focused on aligning future stock incentive plans with the execution of shareholder return measures[119] - The company has a robust insider information management system to prevent the misuse of confidential information[193] - The company’s governance structure aligns with the regulatory standards set by the China Securities Regulatory Commission[194] - The company has maintained a stable management team, with key personnel such as Jin Shuangshou and Yu Yizhou serving since 2003 and 2008 respectively[177] Employee and Management - The company employed a total of 462 staff, with 368 in the parent company and 94 in major subsidiaries[182] - The professional composition of employees includes 179 production personnel, 48 sales personnel, 104 technical personnel, 8 financial personnel, 42 administrative personnel, and 81 operational personnel[182] - The total remuneration paid to directors, supervisors, and senior management in 2019 amounted to CNY 4.2149 million[179] - The company has established a comprehensive training system focusing on new employee orientation and skills enhancement[185] Future Outlook - The future outlook indicates a stable market share for smart meters, driven by the development of 4G and 5G communication technologies and the implementation of the "IR46 standard" for smart meters[93] - The company anticipates growth opportunities driven by the comprehensive advancement of smart grid construction by State Grid Corporation and Southern Power Grid Corporation[94] - The company aims to enhance its market share by focusing on the development of smart power grid and ubiquitous power IoT, leveraging its core technology in energy meter calibration[95] Compliance and Legal Matters - The company has not engaged in any major litigation or arbitration matters during the reporting period[129] - The company has not implemented any employee incentive plans or stock ownership plans during the reporting period[132] - The company has not conducted any significant asset or equity acquisitions or sales during the reporting period[134]

Financial Performance - The company's operating revenue for Q1 2020 was ¥5,443,966.91, a decrease of 80.65% compared to ¥28,139,280.27 in the same period last year[9] - The net profit attributable to shareholders was a loss of ¥1,283,130.47, worsening by 206.11% from a loss of ¥419,167.17 in the previous year[9] - The basic and diluted earnings per share were both -¥0.0100, a decline of 203.03% from -¥0.0033 in the same period last year[9] - The total comprehensive income for Q1 2020 was a loss of CNY 1,283,130.47, compared to a loss of CNY 419,167.17 in Q1 2019[42] - The operating profit for Q1 2020 was a loss of CNY 1,267,432.51, compared to a loss of CNY 1,012,536.27 in the previous year, showing worsening operational performance[45] - The total profit for Q1 2020 was a loss of CNY 1,267,432.51, compared to a loss of CNY 1,012,536.27 in Q1 2019[45] Cash Flow - The net cash flow from operating activities was ¥27,990,325.09, an increase of 242.10% compared to a negative cash flow of ¥19,697,827.99 in the same period last year[9] - The cash flow from operating activities for Q1 2020 was CNY 27,990,325.09, a significant improvement from a negative cash flow of CNY -19,697,827.99 in the same period last year[49] - The cash inflows from operating activities totaled CNY 73,999,666.49, compared to CNY 63,477,435.32 in the previous year, indicating improved cash generation[49] - Operating cash flow for the first quarter was CNY 24,638,107.80, a significant improvement compared to a negative cash flow of CNY 15,849,229.26 in the same period last year, indicating a recovery in operational efficiency[52] - Total cash and cash equivalents at the end of the period reached CNY 180,044,082.37, up from CNY 154,632,921.01 at the beginning of the period, reflecting a net increase of CNY 25,411,161.36[50] Assets and Liabilities - The total assets at the end of the reporting period were ¥593,382,789.10, down 3.08% from ¥612,262,239.94 at the end of the previous year[9] - The total liabilities decreased from CNY 412,262,239.94 on December 31, 2019, to CNY 412,000,000.00 on March 31, 2020, indicating a reduction in financial obligations[30] - Total assets decreased to CNY 545,942,165.34 from CNY 561,904,054.28, a decline of 2.8%[36] - Total liabilities decreased to CNY 84,418,409.91 from CNY 99,043,484.62, a reduction of 14.8%[37] - The total liabilities remained stable at CNY 128,013,521.81, indicating no significant changes in the company's debt structure[56] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 6,087[12] - The largest shareholder, Yu Wenbiao, held 12.47% of the shares, amounting to 15,966,232 shares[12] - The company's net assets attributable to shareholders decreased by 0.26% to ¥482,965,587.66 from ¥484,248,718.13 at the end of the previous year[9] - The company's total equity remained unchanged at CNY 484,248,718.13, reflecting stability in shareholder value[56] Research and Development - The company's research and development expenses decreased by 39.87% to CNY 2,220,019.35 in Q1 2020 from CNY 3,691,970.55 in Q1 2019, reflecting reduced project investments due to the pandemic[30] - Research and development expenses for Q1 2020 were CNY 2,220,019.35, down 39.9% from CNY 3,691,970.55 in the previous year[40] Government Subsidies - The company received government subsidies amounting to ¥2,690,092.02 during the reporting period[10] - Other income increased by 117.49% to CNY 2,690,092.02 in Q1 2020, compared to CNY 1,236,857.38 in Q1 2019, mainly due to increased government subsidies received[30] Audit and Reporting - The company has not undergone an audit for the first quarter report, which is noted as unaudited[60] - The new revenue and leasing standards were not applicable for the first quarter, indicating no retrospective adjustments were made[60] - The report was presented by the legal representative, Yu Wenbiao, on April 22, 2020[61]

Financial Performance - Operating revenue for the reporting period was CNY 80,178,927.02, an increase of 3.54% year-on-year, and CNY 148,503,411.94 for the year-to-date, up 18.08% compared to the same period last year[8] - Net profit attributable to shareholders was CNY 10,189,335.72, down 23.83% year-on-year, and CNY 12,638,449.63 for the year-to-date, a decrease of 19.86%[8] - Basic earnings per share were CNY 0.0796, down 23.83% year-on-year[8] - The company's net profit for the period was not explicitly stated, but the increase in revenue and costs suggests a focus on maintaining profitability amidst rising expenses[34] - The net profit for Q3 2019 was CNY 10,189,335.72, down 23.0% from CNY 13,376,782.54 in Q3 2018[36] - The total profit for Q3 2019 was CNY 11,987,586.87, compared to CNY 14,717,675.12 in Q3 2018, reflecting a decline of 18.6%[36] - The company's total operating profit for Q3 2019 was CNY 12,277,863.48, down from CNY 14,780,461.77 in the same quarter last year[36] - The net profit attributable to the parent company was CNY 12,638,449.63, down 19.5% from CNY 15,769,638.66 in the previous year[44] - The total comprehensive income for the period was CNY 12,638,449.63, a decrease of 19.5% compared to CNY 15,769,638.66 in the previous year[44] Cash Flow - The net cash flow from operating activities was CNY -6,711,359.90, a decline of 33.40% compared to the same period last year[8] - Operating cash flow net amount decreased dramatically by 12994.55% from ¥358,431.39 to -¥46,218,120.02, mainly due to reduced sales collections and increased payments for goods[17] - The net cash flow from operating activities was negative at CNY -46,218,120.02, compared to a positive CNY 358,431.39 in the previous year[50] - The net cash flow from financing activities was CNY 8,032,395.03, compared to a negative CNY -11,569,013.42 in the same period last year[51] - The company reported a total cash outflow of 157,990,279.57 CNY from operating activities, compared to 128,391,803.40 CNY in the previous period[53] Assets and Liabilities - Total assets at the end of the reporting period were CNY 593,605,740.66, a decrease of 4.92% compared to the end of the previous year[8] - Total assets decreased from ¥624,336,095.89 to ¥593,605,740.66, reflecting a reduction in current assets[26][27] - Total liabilities decreased from ¥129,021,335.07 to ¥116,091,321.66, indicating improved financial stability[27] - Total liabilities decreased to CNY 98,240,217.72 from CNY 141,464,481.00, representing a decline of approximately 30.5%[32] - The company's equity increased slightly to CNY 445,757,098.37 from CNY 445,289,915.95, indicating a marginal growth of about 0.1%[32] Shareholder Information - The total number of shareholders at the end of the reporting period was 6,030[12] - The largest shareholder, Yu Wenbiao, holds 12.47% of the shares, with 15,966,232 shares pledged[12] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[13] Expenses and Costs - Total operating costs for Q3 2019 amounted to CNY 68,384,805.39, up from CNY 61,737,785.00, indicating an increase of about 10.6% year-over-year[34] - Sales expenses increased by 44.70% from ¥14,758,812.31 to ¥21,356,327.91, mainly due to team expansion and increased market promotion[17] - Research and development expenses for Q3 2019 were CNY 3,314,896.59, compared to CNY 2,898,514.72 in the previous year, reflecting an increase of approximately 14.3%[34] - Research and development expenses increased to CNY 9,170,803.57, up 24.3% from CNY 7,375,491.59 in the same period last year[46] Other Income and Subsidies - The company received government subsidies amounting to CNY 5,599,447.15 during the reporting period[9] - Other income surged by 7693.13% from ¥71,500.00 to ¥5,572,087.15, primarily due to increased government subsidies received[17] Inventory and Receivables - Accounts receivable decreased significantly by 99.85% from ¥13,526,958.84 to ¥20,000.00, primarily due to increased payments for goods and maturity handling[16] - Other receivables increased by 151.58% from ¥3,725,079.93 to ¥9,371,555.93, mainly due to increased bid deposits and standby funds[16] - Inventory levels decreased to CNY 66,504,026.47 from CNY 72,615,688.60, showing a reduction of approximately 8.5%[30] Audit and Standards - The company did not undergo an audit for the third quarter report[55] - The company has not applied new financial instrument standards or new revenue standards for the current reporting period[55]

Financial Performance - The company's operating revenue for the first half of 2019 was ¥68,324,484.92, representing a 41.40% increase compared to ¥48,321,096.25 in the same period last year[19]. - The net profit attributable to shareholders was ¥2,449,113.91, a slight increase of 2.35% from ¥2,392,856.12 in the previous year[19]. - The company reported a basic earnings per share of ¥0.02, unchanged from the previous year[19]. - The company achieved operating revenue of 68,324,484.92 yuan, a year-on-year increase of 41.40%[31]. - The net profit attributable to the parent company was 2,449,113.91 yuan, representing a year-on-year growth of 2.35%[31]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the first half of 2019, representing a year-on-year growth of 20%[91]. - The company provided a positive outlook for the second half of 2019, projecting a revenue increase of 15% to 1.75 billion RMB, driven by new product launches and market expansion efforts[91]. Cash Flow and Assets - The net cash flow from operating activities was negative at -¥39,506,760.12, a decline of 478.55% compared to ¥10,436,239.17 in the same period last year[19]. - The total assets at the end of the reporting period were ¥580,790,388.27, down 6.97% from ¥624,336,095.89 at the end of the previous year[19]. - Cash and cash equivalents at the end of the reporting period amounted to ¥102,893,411.07, representing 17.72% of total assets, a decrease of 1.66% compared to the previous year[57]. - The net increase in cash and cash equivalents was RMB -6,482,798.42, an improvement of 80.45% from RMB -33,151,956.38 in the previous year[49]. - The company's cash and cash equivalents decreased from RMB 120,974,004.61 to RMB 102,893,411.07, a decline of approximately 15%[138]. - The total cash and cash equivalents at the end of the period were 64,983,153.62 CNY, down from 88,504,939.90 CNY at the end of the same period last year[159]. Research and Development - The company invested 753.77 million yuan in R&D, accounting for 11.03% of operating revenue, with R&D expenses increasing by 23.97% year-on-year[44]. - Investment in R&D has increased by 25% year-on-year, totaling 200 million RMB, focusing on innovative technologies and product development[92]. - Research and development expenses rose by 23.97% to RMB 7,537,725.43, attributed to increased product development and testing investments[49]. Market and Business Operations - The company continues to focus on its core business of electric meter calibration technology and related products, with no significant changes in its main business operations[26]. - The company’s market share in the electric meter standard and calibration device industry reached 38.17% in 2018, ranking first in the industry[37]. - The company is positioned in a rapidly growing sub-industry within the electrical instrumentation sector, benefiting from the development of the power industry and smart grid construction[78]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2020[91]. - A strategic acquisition of a local competitor is in progress, expected to enhance the company's product offerings and customer base by 15%[92]. Financial Stability and Risks - The company faced a significant increase in non-recurring losses, with a net loss of ¥1,677,029.27 attributed to non-recurring items, compared to a profit of ¥628,954.41 in the previous year[19]. - The company is heavily reliant on the power industry and related policies, which significantly influence its business development and investment scale[78]. - The company has a significant reliance on two major power grid companies, which can lead to operational risks due to changes in their procurement plans[79]. - Accounts receivable have increased significantly with a low turnover rate, posing a risk of bad debts, although most debtors are strong entities with high creditworthiness[80]. - The growth in accounts receivable may affect the company's working capital management and asset turnover efficiency[80]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[7]. - The annual shareholders' meeting had a participation rate of 61.55% on May 21, 2019[84]. - The company has made commitments regarding shareholder actions and stock transfer restrictions, ensuring compliance with legal regulations[86]. - The company is committed to maintaining a consistent approach in shareholder voting and decision-making processes[87]. - The company will announce any stock reduction plans at least three trading days in advance[89]. Compliance and Regulatory Matters - The company has not encountered any issues with the use and disclosure of raised funds, indicating compliance with regulatory requirements[69]. - The company did not conduct an audit for the semi-annual financial report[96]. - There were no significant litigation or arbitration matters during the reporting period[98]. - The company has not experienced any penalties or rectification issues during the reporting period[100]. - The company did not report any significant related party transactions during the reporting period[102]. Future Outlook - Future guidance remains cautious, with a focus on cost management and operational efficiency to navigate market challenges[164]. - The company is committed to maintaining a sustainable growth strategy, with plans to invest 500 million RMB in green technologies over the next three years[92].