Financial Performance - The company's operating revenue for 2019 was CNY 355,225,906.74, representing a 2.46% increase compared to CNY 346,704,773.62 in 2018[16] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 42,611,653.26, a decrease of 31.71% from CNY 62,400,470.01 in the previous year[16] - The basic earnings per share decreased by 32.84% to CNY 0.45, down from CNY 0.67 in 2018[16] - The net profit attributable to shareholders was CNY 52,983,867.54, a decrease of 31.79% year-on-year[39] - The company achieved a net profit of ¥67,783,389.02 for the year 2019, with a profit distribution plan proposing a cash dividend of ¥4.50 per 10 shares, totaling ¥52,524,900 (including tax) to be distributed to shareholders[86] - The net profit attributable to ordinary shareholders for 2019 was CNY 52,524,900, representing a 99.13% increase compared to CNY 23,348,400 in 2018[89] Cash Flow - The net cash flow from operating activities significantly increased by 344.97% to CNY 132,922,717.03, compared to CNY 29,872,088.47 in 2018[16] - The total cash inflow from operating activities was ¥415,790,283.88, a year-on-year increase of 14.38%[58] - The net cash flow from investment activities decreased significantly by 427.94%, resulting in a net outflow of ¥152,524,949.11[58] - The net cash flow from financing activities was negative at ¥-23,525,000.00, a 133.20% increase in outflow compared to ¥-10,087,740.00 in 2018[58] - The company received tax refunds, contributing to the increase in net cash flow from operating activities[58] Assets and Liabilities - The total assets of the company at the end of 2019 were CNY 799,909,010.24, reflecting a 1.89% increase from CNY 785,086,524.19 in 2018[17] - The net assets attributable to shareholders increased by 6.67% to CNY 651,310,430.22, compared to CNY 610,558,766.49 in the previous year[17] - The proportion of cash and cash equivalents to total assets decreased by 6.76%, from 14.78% in 2018 to 8.02% in 2019[62] - Fixed assets increased significantly by 16.02%, amounting to ¥258,179,216.00, up from ¥127,683,162.00 in 2018[62] Revenue Composition - The company's operating revenue for Q1, Q2, Q3, and Q4 were approximately ¥88.68 million, ¥84.07 million, ¥87.27 million, and ¥95.21 million respectively, showing a strong Q4 performance[21] - The net profit attributable to shareholders for Q1, Q2, Q3, and Q4 was approximately ¥13.83 million, ¥12.76 million, ¥16.11 million, and ¥10.28 million respectively, with Q3 being the highest[21] - Sales of valves contributed CNY 299,719,900.54, which is 84.37% of total revenue, showing a decrease of 0.62% from the previous year[45] - Export revenue was CNY 302,665,316.89, making up 85.20% of total revenue, down from 85.83% in 2018[45] Research and Development - The company has established a robust R&D capability with 26 patents, including 2 domestic invention patents, enhancing its competitive edge in valve technology[32] - R&D expenses increased by 92.05% to CNY 21,350,293.92, representing 6.01% of total revenue[56] - The number of R&D personnel rose to 61, an increase of 7.02% from 57 in 2018[56] Market Presence and Strategy - The company exported 85.20% of its revenue in 2019, maintaining a strong international market presence across over 50 countries[28] - The company has a strategic focus on expanding its market presence through its wholly-owned subsidiaries in the UK and the US, enhancing its international sales platform[33] - The company participated in over 20 international and domestic exhibitions and client visits, expanding its customer base significantly[39] Governance and Management - The company has been recognized as an A-grade enterprise for information disclosure quality by the Shenzhen Stock Exchange[41] - The company has a strong management team with members holding significant experience in engineering, finance, and international sales[158][159][160] - The company has independent directors with diverse backgrounds, enhancing governance and strategic oversight[158] Shareholder Information - The company plans to distribute a cash dividend of CNY 4.5 per 10 shares, totaling CNY 52,033,000, based on 116,722,000 shares[5] - The company maintained a consistent cash dividend policy, ensuring clear communication with shareholders regarding profit distribution[85] - The total distributable profit for the year was CNY 273,099,446.22, with the cash dividend representing the entire profit distribution[90] Compliance and Internal Controls - The company maintained effective internal controls over financial reporting as of December 31, 2019, according to the internal control verification report[188] - The audit opinion issued by Heshin Accounting Firm was a standard unqualified opinion, confirming the fair presentation of the financial statements[192] - The company’s internal control evaluation report was disclosed on April 28, 2020, indicating full compliance with relevant regulations[186] Risks and Challenges - Raw material costs accounted for 60%-70% of the company's main business costs, with fluctuations in steel prices posing a risk to product costs[80] - The company faces risks related to the stability of product quality, which is critical for customer trust and market reputation[79] - Labor costs are rising due to ongoing industrialization and urbanization, which may impact product pricing and market competitiveness[79] - The company is exposed to exchange rate fluctuations, particularly with the RMB/USD rate affecting export revenues[80]

青岛伟隆阀门股份有限公司 2020 年第一季度报告全文 青岛伟隆阀门股份有限公司 2020 年第一季度报告 2020-037 2020 年 04 月 1 青岛伟隆阀门股份有限公司 2020 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人范庆伟、主管会计工作负责人迟娜娜及会计机构负责人(会计主 管人员)王涛声明：保证季度报告中财务报表的真实、准确、完整。 2 青岛伟隆阀门股份有限公司 2020 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增 | | --- | --- | --- | --- | | | | | 减 | | 营业收入（元） | 57,741,197.23 | 88,676,766.15 | -34.89% | | 归属于上市公司股东的净利润（元） | 10,09 ...

Financial Performance - Operating revenue for the reporting period was CNY 87,272,440.56, down 2.26% year-on-year, while revenue from the beginning of the year to the end of the reporting period was CNY 260,019,988.39, an increase of 11.88%[9] - Net profit attributable to shareholders for the reporting period was CNY 16,110,969.27, a decrease of 25.36% year-on-year, and a total of CNY 42,704,120.01 from the beginning of the year to the end of the reporting period, down 17.94%[9] - Basic earnings per share for the reporting period were CNY 0.14, down 26.32% year-on-year, while diluted earnings per share were also CNY 0.14[9] - The weighted average return on equity for the reporting period was 2.57%, a decrease of 31.47% year-on-year[9] - Total operating revenue for Q3 2019 was CNY 87,272,440.56, a decrease from CNY 89,293,281.81 in the previous period[41] - Net profit for Q3 2019 was CNY 16,110,969.27, down from CNY 21,585,953.94 in the same period last year[42] - The company's total revenue for the year-to-date period reached CNY 260,019,988.39, an increase of 11.9% from CNY 232,418,907.42 in the same period last year[49] - The total operating costs for the year-to-date period were CNY 220,668,847.70, up 20.7% from CNY 182,881,875.43 in the previous year[49] - The company reported an operating profit of CNY 21,064,346.43 for the third quarter, down 24.1% from CNY 27,711,459.39 in the same period last year[45] - The total comprehensive income for the third quarter was CNY 16,058,432.00, compared to CNY 21,529,618.05 in the previous year, reflecting a decline of 25.5%[46] Cash Flow and Investments - The net cash flow from operating activities for the reporting period was CNY 29,280,995.42, an increase of 76.43% year-on-year, and CNY 53,672,446.92 from the beginning of the year to the end of the reporting period, up 116.79%[9] - Operating cash flow net amount increased by 116.79% to ¥53,672,446.92, mainly due to an increase in cash received from operating activities[18] - The net cash flow from investment activities decreased by 316.53% to -¥100,343,786.01, primarily due to a reduction in recovered investment funds[18] - The total cash inflow from investment activities was ¥562,408,323.24, down from ¥869,579,516.74 year-over-year, indicating a decrease of about 35.3%[57] - The net cash flow from investment activities was -¥100,343,786.01, contrasting with a positive net cash flow of ¥46,341,777.72 in the previous year[57] - The company reported a net cash flow from operating activities of ¥63,589,942.10 for the year-to-date, compared to a negative cash flow of -¥6,496,191.32 in the previous year, marking a turnaround[59] Assets and Liabilities - Total assets at the end of the reporting period were CNY 777,852,087.50, a decrease of 0.92% compared to the end of the previous year[9] - Cash and cash equivalents decreased by 65.96% to ¥39,494,482.82, primarily due to increased investment funds[17] - Total liabilities decreased from CNY 174,527,757.70 to CNY 141,120,805.07, a decline of about 19.1%[33] - The company's current assets decreased to CNY 462,615,402.35 from CNY 489,578,804.55, indicating a decline of approximately 5.5%[32] - Total liabilities amounted to CNY 174,527,757.70, with current liabilities at CNY 164,801,750.85 and non-current liabilities at CNY 9,726,006.85[65] - Total equity reached CNY 610,558,766.49, with share capital at CNY 116,742,000.00 and retained earnings at CNY 230,742,633.81[66] Shareholder Information - The total number of shareholders at the end of the reporting period was 10,408[13] - The largest shareholder, Fan Qingwei, holds 64.61% of the shares, totaling 75,429,000 shares[13] - The company has committed to fulfilling its obligations to minority shareholders, with all commitments being met on time[23] Research and Development - Research and development expenses rose by 84.03% to ¥4,383,213.22, primarily due to increased stock incentive amortization expenses[17] - The company reported a 70.16% increase in R&D expenses for the first nine months, totaling ¥12,426,389.69[18] - Research and development expenses increased to CNY 4,383,213.22 from CNY 2,381,804.47, indicating increased investment in innovation[41] - Research and development expenses increased to CNY 12,426,389.69, up 70.0% from CNY 7,302,979.16 in the previous year[53] Other Financial Metrics - The company reported a total of CNY 8,062,064.49 in non-recurring gains and losses for the year-to-date[11] - The company experienced a decrease in tax expenses, which were CNY 3,220,714.43, down from CNY 4,158,589.38 in the previous year[46] - The company recorded a foreign exchange loss of CNY 51,281.02 in Q3 2019, compared to a loss of CNY 43,533.49 in the same period last year[51]

证券代码：002871 证券简称：伟隆股份 公告编号：2019-055 青岛伟隆阀门股份有限公司 关于参加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的内容真实、准确、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工作，构建和谐投资者关系，青岛伟隆 阀门股份有限公司（以下简称"公司"）将参加由青岛证监局、青岛市上市公司 协会、上证所信息网络有限公司共同举办的"2019年青岛辖区上市公司投资者网 上集体接待日"活动，现将有关事项公告如下： 本次集体接待日活动将在上证所信息网络有限公司提供的平台举行，投资 者可以登录"上证路演中心"网站（http://roadshow.sseinfo.com）或关注微 信公众号：上证路演中心，参与公司本次投资者集体接待日活动，活动时间为2019 年9月20日（星期五）下午15:00至17:00。届时公司副总经理、董事会秘书刘克 平先生、证券事务代表赵翔先生将通过网络在线交流形式与投资者就公司治理、 发展战略、经营状况、融资计划、股权激励和可持续发展等投资者关注的问题进 行沟通。 欢迎广大投资者积极参与。 特此公告！ 青岛伟隆阀门 ...

Financial Performance - The company's operating revenue for the first half of 2019 was ¥172,747,547.83, representing a 20.70% increase compared to ¥143,125,625.61 in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 12.67% to ¥26,593,150.74 from ¥30,452,190.91 in the previous year[20]. - The basic earnings per share decreased by 11.54% to ¥0.23 from ¥0.26 in the previous year[20]. - The gross profit margin for the main business was 35.51%, slightly up from 35.49% for valve sales, which saw a revenue increase of 21.28% to RMB 148,189,117.71[48]. - The company reported a total comprehensive income of CNY 26,594,406.99 for the first half of 2019, down from CNY 30,464,993.31 in the previous year[135]. - The total operating revenue for the first half of 2019 was CNY 172,747,547.83, an increase of 20.74% compared to CNY 143,125,625.61 in the same period of 2018[133]. - The net profit attributable to the parent company for the first half of 2019 was CNY 26,593,150.74, a decrease of 12.14% from CNY 30,452,190.91 in the first half of 2018[135]. Cash Flow and Investments - The net cash flow from operating activities increased significantly by 198.84% to ¥24,391,451.50, compared to ¥8,161,938.90 in the same period last year[20]. - The company generated a net cash flow from operating activities of RMB 24,391,451.50, a significant increase of 198.84% compared to RMB 8,161,938.90 in the previous year[44]. - The company reported a cash and cash equivalents balance of ¥31.94 million at the end of the first half of 2019, down from ¥134.86 million at the end of the first half of 2018[144]. - The company incurred financial expenses of ¥1.06 million, compared to a financial income of ¥1.01 million in the first half of 2018[138]. - The net cash flow from investment activities was negative at CNY -65,793,612.90, contrasting with a positive net flow of CNY 144,844,310.78 in the previous period[148]. - The total cash inflow from investment activities was CNY 402,858,735.66, down 40% from CNY 671,930,326.95 in the previous period[148]. Assets and Liabilities - Total assets at the end of the reporting period were ¥764,305,637.15, a decrease of 2.65% from ¥785,086,524.19 at the end of the previous year[20]. - The company's current assets totaled RMB 456,976,783.04, down from RMB 489,578,804.55 at the end of 2018, indicating a decrease of about 6.6%[124]. - Total liabilities decreased from RMB 174,527,757.70 to RMB 145,749,191.99, reflecting a reduction of about 16.4%[126]. - The company's equity attributable to shareholders increased slightly from RMB 610,558,766.49 to RMB 618,556,445.15, an increase of approximately 1.6%[126]. - The total amount of funds raised by the company is RMB 21,963.5 million, with a net amount of RMB 21,963.5 million after deducting issuance costs of RMB 4,199.5 million[55]. Research and Development - The company's research and development investment increased by 63.44% to RMB 8,043,176.47, up from RMB 4,921,174.69 in the previous year, primarily due to increased material costs and stock incentive expenses[44]. - The company has developed over 60 new product specifications, including fire signal butterfly valves and fire butterfly valves, which have passed various certifications[40]. - The company is committed to increasing its R&D investment, which is expected to support future product development and market expansion strategies[134]. Market and Sales - The company's export revenue accounted for 86.73% of its main business income in the first half of 2019, maintaining a consistent export focus[29]. - Domestic sales accounted for 12.97% of total revenue, while export sales made up 86.73%, with export revenue increasing by 22.81% to RMB 149,825,285.52[47]. - In the first half of 2019, 20.5% of the company's main business income came from exports to the US, which may be affected by US-China trade tensions[69]. Corporate Governance and Compliance - The company has not reported any significant changes in its controlling shareholder or actual controller during the reporting period[110]. - The company did not undergo an audit for the semi-annual financial report[80]. - There were no major litigation or arbitration matters during the reporting period[82]. - The company has not experienced any penalties or rectification situations during the reporting period[83]. Risk Management - The company faced various operational risks and has outlined corresponding countermeasures in the report[6]. - The company faces risks related to overseas market expansion due to external economic conditions, particularly the impact of Sino-U.S. trade tensions[67]. - The cost of raw materials, which constitutes approximately 60%-70% of the company's main business costs, is subject to fluctuations, particularly in steel prices[67]. - The company has signed long-term contracts with raw material suppliers to optimize supply chain management and control costs[68]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,897[108]. - The largest shareholder, Fan Qingwei, holds 64.61% of the shares, totaling 75,429,000 shares[108]. - The company has a total of 116,742,000 shares outstanding, with 75.24% being restricted shares[106]. Corporate Social Responsibility - The company actively fulfills its corporate social responsibilities and maintains a harmonious development with society and the environment[98]. - The company has not conducted any targeted poverty alleviation work during the reporting period and has no subsequent plans for such initiatives[100].

Financial Performance - The company's operating revenue for 2018 was CNY 346,704,773.62, representing a 21.04% increase compared to CNY 286,430,896.65 in 2017[16] - The net profit attributable to shareholders for 2018 was CNY 77,680,421.96, up 27.93% from CNY 60,722,959.13 in the previous year[16] - The basic earnings per share for 2018 was CNY 0.67, an increase of 13.56% from CNY 0.59 in 2017[16] - The net profit after deducting non-recurring gains and losses was CNY 62,400,470.01, a 19.92% increase from CNY 52,035,976.28 in 2017[16] - The company reported a significant increase in accounts receivable, with amounts of CNY 50,280,288.21 as of December 31, 2017, and CNY 80,761,263.18 as of December 31, 2018, reflecting a growth of 60.5%[93] - The company’s profit margin decreased from 33.60% in 2017 to 30.06% in 2018[82] - The company achieved a net profit of RMB 83.29 million in 2018, with a proposed cash dividend of RMB 2.00 per 10 shares, amounting to RMB 23.35 million[78] Cash Flow and Investments - The net cash flow from operating activities decreased by 52.65% to CNY 29,872,088.47, down from CNY 63,088,725.86 in 2017[16] - The company reported a significant increase of 432.52% in net cash and cash equivalents, totaling ¥69,745,103.27, compared to a decrease in the previous year[54] - The total investment cash inflow rose by 75.21% to ¥1,048,395,254.83, while cash outflow increased by 17.81% to ¥1,001,884,832.77[53] - The company has allocated part of the unused raised funds to purchase bank financial products and maintain them in a dedicated account for future project investments[64] Assets and Liabilities - Total assets at the end of 2018 were CNY 785,086,524.19, an 18.06% increase from CNY 664,980,774.84 at the end of 2017[17] - The company's inventory rose to CNY 97,078,531.49 in 2018 from CNY 63,367,571.78 in 2017, representing a growth of approximately 53%[199] - The provision for bad debts is considered a key audit matter due to its importance in the financial statements, requiring management to make significant estimates and judgments[188] Market Presence and Sales - The company has established a strong international presence, with export revenue accounting for approximately 85.83% of total operating income in 2018[27] - Domestic sales revenue reached CNY 48,076,376.82, a growth of 21.68% year-on-year, while export revenue was CNY 297,588,812.79, increasing by 20.97%[44] - The company produced over 2,000 specifications of valves, including gate valves, butterfly valves, and check valves, enhancing its product structure advantage[34] Research and Development - The company invested ¥11,117,282.25 in R&D, representing 3.21% of total operating revenue, a slight decrease from 3.72% in 2017[51] - The company is actively investing in R&D to improve product performance and maintain competitive advantages in the valve market[74] - New product development resulted in over 90 specifications passing various certifications, including FM, UL, and GOST, supporting market expansion[40] Governance and Compliance - The company plans to enhance its governance structure and improve information disclosure in compliance with relevant laws and regulations[70] - The company has established a governance structure to protect shareholder rights and ensure transparency in major decisions[116] - The company has maintained a good integrity status, with no significant debts or court judgments outstanding during the reporting period[99] Employee and Management - The total number of employees in the company is 761, with 369 in the parent company and 392 in major subsidiaries[161] - The company has a performance-based salary structure that includes basic salary, position allowances, performance pay, and business commissions[163] - The company has granted a total of 332,000 restricted stocks to its executives during the reporting period[160] Risks and Challenges - The domestic valve market is highly competitive, with over 2,000 companies in the sector, increasing the risk of market competition for the company[71] - The company faces risks related to the stability of product quality, which is critical for customer trust and market reputation[72] - Labor costs are rising due to industrialization and urbanization, which may affect the company's pricing strategy and market competitiveness[73]

青岛伟隆阀门股份有限公司 2019 年第一季度报告全文 青岛伟隆阀门股份有限公司 2019 年第一季度报告 2019-032 2019 年 04 月 1 青岛伟隆阀门股份有限公司 2019 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人范庆伟、主管会计工作负责人迟娜娜及会计机构负责人(会计主 管人员)王涛声明：保证季度报告中财务报表的真实、准确、完整。 2 青岛伟隆阀门股份有限公司 2019 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增 | | --- | --- | --- | --- | | | | | 减 | | 营业收入（元） | 88,676,766.15 | 58,815,992.18 | 50.77% | | 归属于上市公司股东的净利润（元） | 13,831 ...

青岛伟隆阀门股份有限公司 2018 年第三季度报告全文 青岛伟隆阀门股份有限公司 2018 年第三季度报告 2018-094 2018 年 10 月 1 青岛伟隆阀门股份有限公司 2018 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人范庆伟、主管会计工作负责人迟娜娜及会计机构负责人(会计主 管人员)王涛声明：保证季度报告中财务报表的真实、准确、完整。 2 青岛伟隆阀门股份有限公司 2018 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增 | | --- | --- | --- | --- | --- | | | | | | 减 | | 总资产（元） | 719,123,034.45 | | 664,980,774.84 | 8.14% | | 归属于上市公司股东的净 ...

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 143,125,625.61, representing a 7.76% increase compared to CNY 132,817,109.04 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 30,452,190.91, up by 5.36% from CNY 28,903,926.40 year-on-year[19]. - The net profit after deducting non-recurring gains and losses decreased by 22.73% to CNY 21,170,193.43 from CNY 27,397,750.96 in the previous year[19]. - The net cash flow from operating activities was CNY 8,161,938.89, a significant decline of 78.48% compared to CNY 37,934,988.56 in the same period last year[19]. - Basic and diluted earnings per share were both CNY 0.26, down 18.75% from CNY 0.32 in the previous year[19]. - The weighted average return on equity was 5.40%, a decrease of 3.16% from 8.56% in the same period last year[19]. - Total assets at the end of the reporting period were CNY 696,375,192.23, an increase of 4.72% from CNY 664,980,774.84 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company were CNY 561,917,484.62, reflecting a 1.82% increase from CNY 551,852,491.31 at the end of the previous year[19]. Investment and Development - The company plans to invest ¥21,963,000 in projects for large-scale and special-purpose valve production and R&D technology center[28]. - The company has established a comprehensive product quality inspection system, receiving multiple certifications including CE, UL, and ISO9001[33]. - The company has a diverse product range with over 150 models and 2,000 specifications, including large valves with nominal diameters of 2.2M and 4M[34]. - The company’s R&D capabilities are supported by a team of nearly 60 professionals, including 5 senior engineers, and holds 23 patents[31]. - The company has established a stable supply chain for raw materials, reducing reliance on external suppliers[35]. - The company continues to seek new development opportunities through capital market engagement and potential mergers and acquisitions[39]. - The company has developed over 70 new product specifications, including check valves and pressure switches, which have passed various certifications, laying a solid foundation for market expansion[40]. - Research and development investment increased to ¥4,921,174.69, up 5.12% from ¥4,681,488.61 in the previous year[44]. Market and Sales - Domestic sales revenue grew by 23.22% to ¥20,657,347.35, while export revenue increased by 5.51% to ¥121,999,974.46[47]. - The gross profit margin for the main business decreased by 8.02% to 35.49%, indicating rising costs[48]. - Operating profit also showed steady growth, with a significant increase in sales collection rate, reflecting effective market expansion strategies[40]. - The company’s products are primarily export-oriented, with export revenue accounting for 85.88% of main business income in 2017[28]. - Export revenue accounted for 86.98%, 85.88%, and 85.24% of the main business income in 2016, 2017, and the first half of 2018 respectively, indicating a significant reliance on international markets[68]. Financial Management - The company has implemented strict operational regulations and compliance measures, improving management efficiency and operational stability[40]. - The company is actively recruiting and promoting talented individuals, enhancing employee motivation through timely salary adjustments[41]. - The total amount of funds raised is RMB 21,963.5 million, with a net amount of RMB 21,963.5 million after deducting issuance costs of RMB 4,199.5 million[56]. - As of the reporting period, the cumulative amount of raised funds invested is RMB 2,920.72 million, with RMB 2,194.06 million invested during the reporting period[56]. - The total amount of raised funds that have been repurposed is RMB 9,923 million, accounting for 45.18% of the total raised funds[56]. - The company has committed RMB 3,705 million for the construction of a technology research and development center, with an actual investment of RMB 82.81 million, representing 2.24% of the planned investment[58]. - The company has not encountered any issues regarding the disclosure of the use of raised funds[60]. Risks and Compliance - The report highlights potential risks and corresponding measures the company may face in its operations[5]. - The company faces risks related to fluctuations in raw material prices, which account for approximately 60%-70% of the main business costs[69]. - The company is exposed to exchange rate fluctuations, as a significant portion of its revenue is denominated in USD, with 11.81% of main business income coming from exports to the US in the first half of 2018[71]. - The company has not reported any significant changes in the feasibility of the projects[62]. - The company has not encountered any penalties or rectification situations during the reporting period[85]. - The company has adhered to environmental protection laws and regulations, ensuring compliance with pollution control measures[98]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[8]. - A cash dividend of CNY 3.00 per 10 shares was distributed, totaling CNY 20.4 million, alongside a capital reserve increase of 7 shares for every 10 shares held, resulting in a total share capital increase to 115.6 million shares[107]. - The total number of shares before the change was 68 million, with a post-change total of 115.6 million shares, reflecting a significant increase in share capital[107]. - The company reported a total of 12,921 common stock shareholders at the end of the reporting period[111]. - The largest shareholder, Fan Qingwei, holds 65.25% of the shares, amounting to 75,429,000 shares[111]. Corporate Social Responsibility - The company has actively engaged in social responsibility by donating valve products worth RMB 150,000 for school construction in Guizhou[99]. - The company committed to donating CNY 150,000 worth of valve products for school infrastructure development in the second half of 2018[102]. - The company plans to enhance educational resources in impoverished areas with an investment of CNY 150,000[102]. Audit and Compliance - The company’s financial report for the half-year period has not been audited[81]. - The company has not reported any new product launches or technological advancements during this reporting period, focusing instead on consolidating existing operations[158]. - The company has not experienced any major litigation or arbitration matters during the reporting period[84]. - The company has not conducted any significant related party transactions during the reporting period[87].

Financial Performance - The company's operating revenue for 2017 was CNY 286,430,896.65, representing a 5.03% increase compared to CNY 272,726,317.54 in 2016[16] - The net profit attributable to shareholders for 2017 was CNY 60,722,959.13, which is a 15.79% increase from CNY 52,440,515.13 in 2016[16] - The basic earnings per share for 2017 was CNY 1.00, a decrease of 2.91% from CNY 1.03 in 2016[16] - The weighted average return on equity for 2017 was 13.88%, down from 17.83% in 2016, reflecting a decrease of 3.95%[16] - In Q1 2023, the company reported revenue of ¥57,028,115.92, which increased to ¥83,849,983.13 in Q4 2023, showing a growth of approximately 47% over the year[22] - The net profit attributable to shareholders was ¥10,959,991.99 in Q1 2023 and reached ¥17,105,605.86 in Q4 2023, reflecting a year-over-year increase of about 56%[22] Cash Flow and Assets - The net cash flow from operating activities decreased by 8.15% to CNY 63,088,725.86 in 2017 from CNY 68,688,535.73 in 2016[16] - The total assets at the end of 2017 were CNY 664,980,774.84, a 59.43% increase from CNY 417,094,116.90 at the end of 2016[18] - The net cash flow from operating activities decreased from ¥22,927,112.47 in Q1 2023 to ¥7,555,223.58 in Q4 2023, indicating a decline of approximately 67%[22] - The total current assets amounted to CNY 471,598,338.73, a significant increase compared to CNY 256,577,270.60 from the previous year, indicating strong liquidity growth[200] - The company's cash and cash equivalents were reported at CNY 35,495,860.87, reflecting a decrease from CNY 84,162,466.30 in the prior year[200] Shareholder Information and Dividends - The company plans to distribute a cash dividend of CNY 3.00 per 10 shares, totaling CNY 20,400,000 based on 68,000,000 shares[6] - The cash dividend payout ratio for 2017 was 33.60% of the consolidated net profit attributable to shareholders, which was ¥60,722,959.13[89] - The company has a structured decision-making process for profit distribution, requiring a two-thirds majority approval from shareholders for any policy changes[85] - The company actively engages with minority shareholders to gather their opinions and ensure their rights are protected during the dividend distribution process[84] - The company plans to carry forward any undistributed profits to the next fiscal year[91] Market Presence and Sales - The company’s export revenue accounted for 85.88% of its main business income in 2017, demonstrating a strong international market presence[28] - Domestic sales revenue increased by 11.56% to ¥39,511,992.22, while export revenue grew by 3.96% to ¥245,992,725.58[44] - The total sales amount for the top five customers reached ¥59,962,024.82, accounting for 20.94% of the annual total sales[49] - The company’s product range includes over 150 models and 2,000 specifications, catering to diverse customer needs in the water supply and drainage sector[34] Research and Development - The company has established a comprehensive product certification portfolio, including certifications from CE, UL, and NSF, enhancing its competitive edge in the market[34] - The company holds 22 patents, including 2 domestic invention patents, showcasing its commitment to innovation in valve technology[31] - Research and development investment increased by 31.45% to ¥10,656,887.06, representing 3.72% of operating revenue[52] - The company has been focusing on expanding its product offerings and enhancing its research and development capabilities, with a dedicated R&D director since March 2018[153] Governance and Compliance - The company will continue to adhere to legal and regulatory requirements for corporate governance and information disclosure[72] - The company has maintained a good integrity status, with no significant debts or court judgments outstanding during the reporting period[104] - The governance status of the company complies with the relevant regulatory requirements set by the China Securities Regulatory Commission[164] - The independent directors attended all board meetings and shareholder meetings, demonstrating active engagement in corporate governance[169] Operational Efficiency - The company has established a stable supply chain for valve castings through its wholly-owned subsidiary, ensuring product quality and reducing reliance on external suppliers[36] - The company is committed to enhancing its quality control system to ensure product quality stability, which is critical for maintaining market reputation[75] - The company has a strong focus on quality control, with its valve testing center recognized by CNAS and UL, ensuring high product standards[33] Financial Management - The company reported a significant increase in financial expenses by 206.95% to ¥3,176,966.40, mainly due to reduced foreign exchange gains[51] - The total amount of cash and cash equivalents decreased by 184.16% to -¥20,974,553.09[54] - The company has not faced any penalties or corrective actions during the reporting period[103] - The audit opinion issued by Shandong Hexin Accounting Firm was a standard unqualified opinion, confirming effective internal controls over financial reporting[177] Employee and Management Structure - The total number of employees in the company is 739, with 347 in the parent company and 392 in major subsidiaries[159] - The company has a strong leadership team with members holding advanced degrees and significant industry experience, including professors and senior engineers[149][150] - The company conducts annual employee training plans based on departmental needs, focusing on skill enhancement and career development[161] - The total pre-tax remuneration for the chairman, Fan Qingwei, is 356,700 RMB, while the total for the general manager, Li Huijun, is 332,100 RMB[158]