Financial Performance - The company's operating revenue for the first half of 2022 was ¥44,994,730.17, a decrease of 3.90% compared to ¥46,821,852.04 in the same period last year[22]. - The net profit attributable to shareholders was a loss of ¥1,885,468.60, representing a significant decline of 1,049.22% from a loss of ¥164,064.74 in the previous year[22]. - The net cash flow from operating activities was negative at ¥553,768.88, a decrease of 921.22% compared to a positive cash flow of ¥67,432.86 in the same period last year[22]. - Basic and diluted earnings per share were both reported at -¥0.0147, a decline of 1,030.77% from -¥0.0013 in the previous year[22]. - The company reported significant non-recurring losses, including a net profit loss of ¥5,125,322.39 after deducting non-recurring gains and losses, which is a 3,357.27% decline from the previous year[22]. - The total comprehensive income for the first half of 2022 was -¥1,885,468.60, compared to -¥164,064.74 in the first half of 2021[140]. - The company reported a significant increase in sales expenses to ¥17,014,301.25 in the first half of 2022, up from ¥14,764,679.52 in the first half of 2021[135]. Assets and Liabilities - Total assets at the end of the reporting period were ¥598,642,347.75, down 5.43% from ¥633,016,564.57 at the end of the previous year[22]. - The net assets attributable to shareholders decreased slightly to ¥512,492,506.16, a reduction of 0.37% from ¥514,377,974.76 at the end of the previous year[22]. - The company's total assets at the end of the reporting period were ¥201,097,159.92, a decrease from ¥248,849,434.00 at the end of the previous year, primarily due to an increase in bank financial product balances[48]. - The total liabilities decreased to CNY 86,149,841.59 from CNY 118,638,589.81, a reduction of about 27.3%[128]. - The company reported a significant reduction in accounts payable, which decreased to CNY 40,335,367.24 from CNY 64,121,183.46, a decline of about 37.1%[127]. Revenue and Costs - The cost of goods sold increased by 18.51% to ¥32,160,414.90, primarily due to rising direct labor and manufacturing costs[41]. - Total operating costs increased to ¥58,952,396.80 in the first half of 2022, up 11.5% from ¥52,780,134.68 in the same period of 2021[135]. - Revenue from the electric energy meter standard and calibration device product series increased by 40.04% to ¥18,360,402.37, driven by higher sales of automated calibration systems[45]. - Revenue from the electric energy measurement supporting product series decreased by 32.28% to ¥20,842,592.22, mainly due to reduced sales of self-use electricity information collection systems[45]. Research and Development - Research and development expenses decreased by 19.82% to ¥5,966,614.63, attributed to reduced material consumption during the reporting period[41]. - The company has allocated 31 million yuan for research and development in new technologies[148]. - The company emphasizes independent research and development, supported by a two-tier technical organization, enabling rapid response to market changes and continuous innovation[35]. Corporate Governance and Management - The company has established a sound corporate governance structure, ensuring the protection of shareholder rights and maintaining transparent communication with minority shareholders[82]. - The management team possesses extensive experience in electric meter technology, ensuring alignment with industry trends and strategic development[39]. - The company has implemented a human resources management system that complies with legal requirements, ensuring the protection of employee rights and fostering harmonious labor relations[83]. Market and Industry Outlook - The company operates in the electric power industry, benefiting from national policies and the rapid development of the smart grid, with a focus on energy consumption growth during the "14th Five-Year Plan" period[30]. - The company anticipates steady growth in electricity consumption, particularly in western regions, as it continues to expand its market presence and product offerings[30]. - The company plans to enhance its competitive edge through continuous innovation, increasing market expansion efforts, and optimizing product structure to address intensified market competition[71]. Cash Flow and Financing - The net cash flow from financing activities increased to 1,790,780.11 CNY in the first half of 2022, compared to 839,792.18 CNY in the same period of 2021, showing improved financing performance[142]. - The cash flow from investment activities showed a net outflow of -47,805,037.16 CNY in the first half of 2022, compared to -4,755,636.99 CNY in the first half of 2021, indicating increased investment expenditures[142]. - The company has a total of 6,678.39 million in raised funds currently held in a dedicated account, which remains unused[61]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 5,282[112]. - The largest shareholder, Yu Wenbiao, held 9.36% of the shares, with 5 million shares pledged[112]. - The company maintains a stable shareholder structure with no reported related party transactions among the top shareholders[114]. Compliance and Reporting - The semi-annual financial report was not audited[90]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect a true and complete picture of its financial status as of June 30, 2022[166]. - The company has confirmed its ability to continue operations for at least 12 months from the reporting date without significant issues affecting its ongoing viability[164].

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2021, representing a year-on-year increase of 15%[17]. - The net profit attributable to shareholders was RMB 150 million, an increase of 20% compared to the previous year[17]. - The company's operating revenue for 2021 was ¥219,504,975.24, representing a 3.67% increase compared to ¥211,728,010.60 in 2020[22]. - Net profit attributable to shareholders decreased by 16.73% to ¥19,504,956.33 in 2021 from ¥23,424,300.30 in 2020[22]. - The net cash flow from operating activities dropped significantly by 66.20% to ¥23,366,460.00 in 2021, down from ¥69,141,124.78 in 2020[22]. - The company reported a total revenue of 302.63 million for the year 2021[126]. - The company reported a significant increase in revenue for 2021, with total revenue reaching approximately 1.5 billion RMB, representing a year-over-year growth of 20%[161]. - The company reported a net profit of 11,974 million in 2021, indicating strong financial performance[115]. Research and Development - The company plans to invest RMB 200 million in R&D for new product development in 2022, focusing on smart grid technologies[17]. - The company reported a research and development investment of 14.88 million yuan, accounting for 6.78% of the annual revenue[39]. - The company completed several key R&D projects aimed at enhancing product technology and automation capabilities[57]. - Investment in new technologies is prioritized to improve operational efficiency and product innovation[115]. - The company aims to enhance its digital transformation initiatives to improve operational efficiency and customer engagement[17]. - The company plans to invest approximately 5 billion CNY in research and development to improve its core competitiveness and establish a technology research center[92]. - The company has committed to increasing R&D investment by 30% to accelerate innovation in product offerings[166]. Market Expansion and Strategy - The company announced plans for market expansion into Southeast Asia, targeting a 10% market share within three years[17]. - The company has set a revenue target of RMB 1.5 billion for 2022, indicating a growth forecast of 25%[17]. - The company aims to strengthen its market position in the electric energy metering and calibration device industry by leveraging its technological advantages and enhancing customer engagement[91]. - The company is focused on increasing its market share by 15% in the electric energy metering sector through enhanced marketing and product development efforts[98]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand capabilities[115]. - A strategic acquisition was completed in Q4 2021, enhancing the company's capabilities in smart manufacturing technologies[163]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2023[162]. Operational Efficiency - The company aims to enhance its operational efficiency through strategic appointments in management[119]. - The company focuses on optimizing its internal control and management systems to reduce operational costs and enhance efficiency, targeting a cost reduction of 10% across various operational areas[94]. - The company aims to reduce operational costs by 15% through improved supply chain management and automation technologies[124]. - The company has set a target to reduce operational costs by 15% over the next two years through efficiency improvements[163]. Corporate Governance - The company strictly adheres to corporate governance regulations, ensuring compliance with laws and enhancing operational standards[103]. - The company has established a complete and independent financial management system, with separate bank accounts and tax obligations[108]. - The company has a robust internal control system, ensuring accurate and timely disclosure of information to shareholders[105]. - The company has developed a comprehensive governance structure, including rules for board meetings and shareholder participation[104]. - The company actively engages in training for its supervisory board to enhance their oversight capabilities[104]. - The company has a commitment to transparency in related party transactions, ensuring fair pricing based on market standards[159]. Shareholder Engagement - The company held its annual general meeting with a participation rate of 62.14% on May 14, 2021[110]. - The company has a dedicated investor relations team to manage communications and ensure equal access to information for all shareholders[104]. - The company maintains independence from its controlling shareholders in terms of assets, personnel, and financial operations, ensuring no interference in decision-making[107]. Employee Management - The total number of employees at the end of the reporting period was 408, with 265 in the parent company and 143 in major subsidiaries[136]. - The company has established a training system aimed at enhancing employee skills and aligning with business goals[139]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period[142]. Risk Management - The company has identified potential risks in supply chain disruptions and is developing contingency plans to mitigate these risks[6]. - The company recognizes the risk of dependency on national policies affecting the electric power industry, particularly regarding its major clients, State Grid and Southern Power Grid[96]. - The company will continue to monitor the impact of the COVID-19 pandemic on its operations and supply chain, implementing necessary measures to ensure business continuity[99].

Revenue and Profitability - The company's revenue for Q1 2022 was CNY 19,380,677.49, representing a 5.36% increase compared to CNY 18,394,513.29 in the same period last year[3] - The net profit attributable to shareholders was a loss of CNY 3,111,315.56, an improvement of 13.12% from a loss of CNY 3,581,115.46 in the previous year[3] - Total operating revenue for Q1 2022 was CNY 19,380,677.49, an increase from CNY 18,394,513.29 in the previous period[15] - The net profit for the first quarter of 2022 was -3,111,315.56 yuan, compared to -3,581,115.46 yuan in the same period last year, indicating a 13% improvement year-over-year[18] - Operating profit for the first quarter was -2,234,038.48 yuan, an improvement from -3,516,470.53 yuan in the previous year[18] - The total comprehensive income for the first quarter was -3,111,315.56 yuan, reflecting a decrease from -3,581,115.46 yuan year-over-year[18] - Basic and diluted earnings per share were both -0.020 yuan, an improvement from -0.030 yuan in the same period last year[18] Cash Flow and Liquidity - The net cash flow from operating activities was CNY 28,042,768.71, a significant increase of 570.20% compared to a negative cash flow of CNY 5,964,005.53 in Q1 2021[7] - Cash flow from operating activities generated a net inflow of 28,042,768.71 yuan, a significant recovery from a net outflow of -5,964,005.53 yuan in the prior year[20] - Total cash and cash equivalents at the end of the period reached 289,144,945.47 yuan, up from 151,914,377.45 yuan at the end of the previous year[21] - The cash flow from financing activities showed a net inflow of 456,639.70 yuan, compared to 1,168,077.98 yuan in the previous year[21] - The company reported cash inflows from investment activities of 50,380,958.90 yuan, down from 100,657,626.54 yuan in the same period last year[20] Assets and Liabilities - Total assets decreased by 3.94% to CNY 608,086,070.73 from CNY 633,016,564.57 at the end of the previous year[3] - Total assets decreased to CNY 608,086,070.73 from CNY 633,016,564.57, indicating a reduction in overall asset base[15] - Total liabilities decreased to CNY 96,957,979.56 from CNY 118,638,589.81, showing a reduction in financial obligations[15] - The total equity attributable to shareholders decreased by 0.63% to CNY 511,128,091.17 from CNY 514,377,974.76 at the end of the previous year[3] Operating Costs and Efficiency - The company reported a 50.74% increase in operating costs, amounting to CNY 16,630,865.01, due to higher revenue[7] - Total operating costs for Q1 2022 were CNY 28,010,190.27, up from CNY 23,993,095.32 in the previous period[15] - Gross profit margin decreased due to increased operating costs, with operating costs rising by approximately 16.8% year-over-year[15] - The company is focusing on improving operational efficiency and reducing costs in response to rising expenses[15] Accounts Receivable and Inventory - The company experienced a 40.92% reduction in accounts receivable, totaling CNY 69,882,500.77, attributed to increased sales collections[6] - Accounts receivable decreased to CNY 69,882,500.77 from CNY 118,284,500.23, indicating improved collection efficiency[13] - Inventory increased to CNY 51,460,764.03 from CNY 48,626,157.36, reflecting a strategic buildup for anticipated demand[13] Impairment and Expenses - The company reported a significant increase in asset impairment losses, which rose to CNY 3,701,764.17, compared to a loss of CNY 77,805.74 in the previous year[7] - Research and development expenses for Q1 2022 were CNY 2,996,871.88, down from CNY 3,688,245.40 in the previous period[15] - The company experienced a decrease in credit impairment losses, reporting 2,343,336.57 yuan compared to 1,510,946.58 yuan in the previous year[18]

Financial Performance - The company's revenue for Q3 2021 was ¥34,910,892.28, a decrease of 49.90% compared to the same period last year[3] - The net profit attributable to shareholders was ¥234,918.81, down 96.62% year-on-year, while the net profit after deducting non-recurring gains and losses was ¥103,010.95, a decline of 98.28%[3] - The total operating revenue for the current period is ¥81,702,336.89, compared to ¥115,442,782.86 in the previous period[15] - Operating profit for Q3 2021 was CNY -1,238,292.41, compared to CNY 8,154,519.38 in Q3 2020, indicating a significant decline[16] - Net profit for Q3 2021 was CNY 72,643.16, down from CNY 9,795,373.50 in Q3 2020, reflecting a decrease of approximately 99.26%[17] - Total operating costs for Q3 2021 were CNY 87,845,523.24, a decrease from CNY 111,731,902.41 in Q3 2020, representing a reduction of approximately 21.4%[16] Assets and Liabilities - The total assets at the end of the reporting period were ¥611,634,798.15, representing a decrease of 3.98% from the end of the previous year[3] - The company's total current assets as of September 30, 2021, amount to ¥481,612,598.98, a decrease from ¥515,140,034.68 at the end of 2020[11] - The total liabilities decreased to ¥116,689,136.56 from ¥142,137,390.45 at the end of 2020[13] - The total assets as of September 30, 2021, are ¥611,634,798.15, down from ¥637,010,408.88 at the end of 2020[13] Cash Flow - The cash flow from operating activities showed a net outflow of ¥3,683,262.44, a decline of 126.55% compared to the previous period[7] - Cash flow from operating activities for Q3 2021 was CNY -3,683,262.44, compared to CNY 13,873,409.51 in Q3 2020, showing a negative shift[20] - Cash flow from investing activities for Q3 2021 was CNY -6,937,883.72, an improvement from CNY -20,239,274.03 in Q3 2020[21] - Cash and cash equivalents at the end of Q3 2021 totaled CNY 189,003,255.40, compared to CNY 138,868,616.41 at the end of Q3 2020, indicating an increase of approximately 36.1%[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 5,388[9] - The largest shareholder, Yu Wenbiao, holds 9.36% of shares, totaling 11,974,674 shares, with 5,000,000 shares pledged[9] - The company has a total equity attributable to shareholders of the parent company amounting to ¥494,945,661.59[13] Expenses and Provisions - Accounts receivable decreased by 36.66% to ¥86,254,177.93, primarily due to reduced revenue recognition during the reporting period[7] - Inventory increased by 102.76% to ¥83,434,178.51, attributed to increased stock for contract fulfillment[7] - The company reported a significant increase in credit impairment losses, rising by 2821.23% to ¥2,293,352.94, due to increased provisions for bad debts[7] - The management expenses rose by 68.45% to ¥8,289,743.45, indicating higher operational costs during the period[7] - Research and development expenses for Q3 2021 were CNY 10,825,552.26, slightly down from CNY 10,929,942.71 in Q3 2020[16] Government Support - The company received government subsidies amounting to ¥380,000.00 during the reporting period, which contributed to its financial performance[5] Other Information - The company did not conduct any dividend distribution during the reporting period, resulting in a net cash inflow from financing activities of ¥879,299.58, a 109.36% increase[7] - The company has not reported any preferred shareholders or significant new strategies in the current quarter[10] - The third quarter report of Zhengzhou Sanhui Electric Co., Ltd. has not been audited[25] - The new lease accounting standards were first implemented in 2021, with retrospective adjustments made to prior comparative data[24] - The board of directors meeting was held on October 29, 2021[25]

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].