编号：2022-010 证券代码：002879 证券简称：长缆科技 长缆电工科技股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-------------------------|----------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

Financial Performance - The company's revenue for Q3 2022 was ¥225,637,147.61, a decrease of 7.06% compared to the same period last year[5]. - Total operating revenue for Q3 2022 was CNY 669,011,170.37, a decrease of 8.8% compared to CNY 733,217,847.54 in the same period last year[21]. - Net profit for Q3 2022 was CNY 24,572,559.05, down 78.3% from CNY 113,036,100.85 in Q3 2021[23]. - The total comprehensive income for the third quarter was ¥24,572,559.05, compared to ¥113,036,100.85 in the previous period, indicating a significant decrease[24]. - Basic and diluted earnings per share for the current period were both ¥0.13, down from ¥0.63 in the same period last year[24]. Profitability and Expenses - The net profit attributable to shareholders for the first nine months of 2022 decreased by 78.26% to ¥24,572,559.05, primarily due to employee stock plan expenses of ¥43,790,700 and impacts from the pandemic and rising raw material costs[5][11]. - Total operating costs increased to CNY 653,551,733.39, up 6.0% from CNY 616,307,617.61 year-over-year[21]. - The company's management expenses increased by 83.99% to ¥102,591,950.85 for the first nine months of 2022, mainly due to employee stock plan expenses[11]. - Research and development expenses for the period were CNY 46,459,271.96, slightly up from CNY 46,207,675.64 year-over-year[21]. Cash Flow and Investments - The company reported a net cash outflow from investment activities of ¥511,452,344.40 for the first nine months of 2022, an increase of 485.38% year-on-year[11]. - Cash inflow from operating activities totaled ¥608,685,159.69, an increase from ¥596,969,877.93 in the previous period[25]. - Cash outflow from operating activities was ¥662,787,317.91, compared to ¥654,453,186.74 in the previous period, resulting in a net cash flow from operating activities of -¥54,102,158.22[25]. - Cash flow from investing activities showed a net outflow of -¥511,452,344.40, worsening from -¥87,370,319.85 in the previous period[25]. - Cash flow from financing activities resulted in a net inflow of ¥14,994,855.80, compared to a net outflow of -¥40,846,266.37 in the previous period[25]. Assets and Liabilities - Total assets at the end of Q3 2022 were ¥2,087,006,252.83, down 1.86% from the end of the previous year[5]. - The company's total liabilities increased by 117.16% to ¥92,622,346.41, primarily due to obligations related to the employee stock plan[10]. - The company's cash and cash equivalents decreased to ¥270,154,801.80 from ¥811,408,107.34 at the beginning of the year, representing a decline of approximately 66.7%[18]. - Accounts receivable decreased to ¥529,319,666.25 from ¥584,152,620.17, a reduction of about 9.4%[18]. - The total current assets amount to ¥1,575,689,946.94, down from ¥1,732,224,970.27, indicating a decrease of approximately 9.0%[18]. - The company's long-term equity investments decreased to ¥2,464,807.72 from ¥3,895,457.43, a decline of about 36.7%[18]. - Total liabilities decreased to CNY 423,098,718.53, down 13.9% from CNY 491,499,240.65[20]. - The equity attributable to shareholders of the parent company increased to CNY 1,663,907,534.30, up from CNY 1,635,076,308.69, representing a growth of 1.8%[20]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 16,727[13]. - The largest shareholder, Yu Zhengyuan, holds 34.82% of the shares, totaling 67,237,675 shares, with 15,000,000 shares pledged[13]. - The controlling shareholder, Yu Zhengyuan, increased his stake by 1,955,140 shares, accounting for 1.01% of the total share capital from June 7, 2022, to October 12, 2022[16]. - The company approved the second employee stock ownership plan at the shareholders' meeting held on September 29, 2022[16]. - The top ten shareholders include various institutional investors, with the largest being Yu Zhengyuan, followed by the first employee stock ownership plan holding 4.88%[13]. Government Subsidies - The company recognized a government subsidy of ¥1,550,313.60 in Q3 2022, with total government subsidies for the year-to-date amounting to ¥9,247,057.12[7][8]. Audit and Reporting - The company did not report any profit from the merged entity prior to the merger, with both periods showing ¥0.00[24]. - The company has not undergone an audit for the third quarter report[26].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥443,374,022.76, a decrease of 9.60% compared to ¥490,444,014.34 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was ¥24,986,541.05, down 72.03% from ¥89,341,092.99 year-on-year[23]. - The net profit after deducting non-recurring gains and losses was ¥15,324,247.72, a decline of 80.97% compared to ¥80,522,083.26 in the previous year[23]. - The basic earnings per share decreased by 74.00% to ¥0.13 from ¥0.50 in the same period last year[23]. - The total assets at the end of the reporting period were ¥2,113,332,279.25, a decrease of 0.62% from ¥2,126,575,549.34 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company increased by 6.21% to ¥1,736,684,405.72 from ¥1,635,076,308.69 at the end of the previous year[23]. - The company reported a net cash flow from operating activities of -¥68,218,046.50, which is a 5.25% increase in outflow compared to -¥64,814,929.34 in the previous year[23]. - The gross profit margin for cable accessories and related products was 45.71%, a decrease of 6.04 percentage points year-on-year[49]. - The company's cash and cash equivalents decreased to ¥310,987,190.09, down 23.44% from ¥811,408,107.34 at the end of the previous year[54]. - The inventory increased to ¥253,233,201.41, representing an increase of 1.38% compared to ¥225,329,824.77 from the previous year[54]. Research and Development - The company has invested significantly in R&D, focusing on core technologies such as insulation materials for ultra-high voltage applications and cable accessory system design, ensuring continuous growth[36]. - Research and development expenses amounted to ¥31,117,931.66, representing a 2.26% increase from ¥30,429,433.86 in the previous year, with R&D expenses averaging over 5% of main business income in recent years[45]. - The company has developed a series of new products, including 290/500kV cross-linked polyethylene insulated power cable accessories and ±525kV direct current cable accessories, filling domestic gaps and winning multiple technology awards[37]. - The company has established the largest and most comprehensive research and testing center in the industry, equipped with various high-voltage testing facilities, including an 800kV ultra-high voltage testing hall[40]. - The company is focusing on enhancing its research and development capabilities to drive future growth[149]. Market Strategy and Operations - The company operates in the electrical machinery and equipment manufacturing industry, which is influenced by macroeconomic cycles and power engineering investments, with a reported investment of 215.8 billion yuan in power generation projects, a 14.0% year-on-year increase[31]. - The company’s sales strategy includes direct participation in tenders from major state-owned power companies and expanding its provincial sales subsidiaries to increase market share[35]. - The company is positioned to benefit from policies promoting renewable energy and grid upgrades, which are expected to drive demand for cable accessories[33]. - The company has a strong market presence in major urban power grid renovation projects and critical infrastructure developments, including nuclear power and high-speed rail projects[33]. - The company has set a revenue target of 3.5 billion yuan for the full year 2022, aiming for a growth rate of approximately 10%[150]. Financial Management and Risks - The company highlighted risks related to future operations and emphasized the need for investors to be aware of these risks[4]. - The company is facing risks from market competition, particularly in the medium and low-voltage cable accessory market, and plans to leverage scale and technology advantages to reduce costs[70]. - The company faces raw material price fluctuation risks, particularly with metals like copper and aluminum, which significantly impact operating performance due to their high cost proportion[71]. - The company employs a production model of "sales-driven production" for special products and "maintaining reasonable inventory" for conventional products to manage raw material costs effectively[71]. - The company plans to mitigate risks by developing new products and exploring new regions to diversify its customer base across multiple industries and areas[71]. Shareholder and Equity Information - The company has implemented an employee stock ownership plan, with 134 employees holding a total of 9,415,100 shares, representing 4.88% of the company's total equity[77]. - The chairman and other executives have acquired shares during the reporting period, with the chairman holding 534,400 shares (0.28%) and the vice president holding 389,700 shares (0.20%) by the end of the reporting period[78]. - The company’s major shareholder, Mr. Yu Zhengyuan, increased his stake by purchasing 160,000 shares, amounting to 2,243,284 RMB, representing 0.08% of the total share capital[107]. - The total number of ordinary shareholders at the end of the reporting period is 15,971[115]. - The largest shareholder, Yu Zhengyuan, holds 34.06% of the shares, totaling 65,764,035 shares, with a recent increase of 160,000 shares[115]. Corporate Governance and Compliance - The company emphasizes environmental responsibility and has not faced any administrative penalties related to environmental issues during the reporting period[81]. - The company actively engages in social responsibility initiatives, including donations to educational funds and support for underprivileged individuals[84]. - The company has not reported any changes in capital or special reserves during this period[155]. - There were no significant lawsuits or arbitration matters during the reporting period[92]. - The company did not engage in any major related party transactions during the reporting period[93]. Accounting and Financial Reporting - The company's financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations for the next 12 months[162]. - The company adheres to the accounting standards for enterprises, ensuring that its financial statements reflect a true and complete picture of its financial status and operating results[164]. - The semi-annual financial report has not been audited, which may affect the reliability of the financial data presented[127]. - The company recognizes cumulative gains or losses from financial assets measured at fair value through other comprehensive income upon derecognition, transferring them to profit or loss[173]. - The company measures expected credit losses based on the risk of default, calculating the weighted average of credit losses for financial instruments[177].

长缆电工科技股份有限公司 2022 年第一季度报告全文 证券代码：002879 证券简称：长缆科技 公告编号：2022-022 长缆电工科技股份有限公司 2022 年第一季度报告 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。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准 确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带 的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声 明：保证季度报告中财务信息的真实、准确、完整。 3.第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (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） | 200,099,028.11 | 174,681,401.15 | 14.55% | | 归属于上市公司股东的净利润（元） | 17,807,324.08 | 29,294 ...

Financial Performance - The company's operating revenue for 2021 was ¥1,057,767,801.21, representing a 12.46% increase compared to ¥940,579,693.14 in 2020[20] - The net profit attributable to shareholders for 2021 was ¥140,380,899.96, a decrease of 13.13% from ¥161,596,681.93 in 2020[20] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥117,679,325.82, down 19.88% from ¥146,870,215.78 in the previous year[20] - The net cash flow from operating activities increased by 25.50% to ¥101,381,991.63 from ¥80,783,605.97 in 2020[20] - The total assets at the end of 2021 were ¥2,126,575,549.34, an increase of 8.24% from ¥1,964,762,880.08 at the end of 2020[20] - The net assets attributable to shareholders at the end of 2021 were ¥1,635,076,308.69, reflecting a 6.45% increase from ¥1,536,024,327.92 in 2020[20] - The basic earnings per share for 2021 were ¥0.78, down 13.33% from ¥0.90 in 2020[20] - The weighted average return on equity for 2021 was 8.89%, a decrease of 2.03% from 10.92% in 2020[20] Market and Industry Outlook - The company is positioned to benefit from the growing demand in the power sector, particularly in wind and solar energy, as indicated by national policies promoting renewable energy development[29] - The market for cable accessories is expected to grow significantly due to increased investments in power infrastructure and renewable energy projects, driven by national planning initiatives[30] - The company anticipates a favorable market outlook in the cable accessory industry, supported by ongoing investments in power grid construction and upgrades[31] - The sales performance is expected to be stronger in Q2 and Q4 due to seasonal demand patterns in the cable and accessory industry[33] Research and Development - The company invests over 5% of its main business revenue in R&D annually, focusing on high voltage and smart cable accessory products[38] - The company has established 17 wholly-owned marketing subsidiaries to enhance its sales network across provincial, municipal, and county markets[39] - The company actively participates in the formulation of national and industry standards, contributing to 16 standards related to cable accessories[38] - The company has advanced testing facilities, including a 500kV ultra-high voltage testing hall, ensuring product quality and development capabilities[39] Strategic Initiatives - The company has implemented a strategy focused on technological advancement and overseas market expansion to drive growth[42] - The company is pursuing an "industry investment" strategy to increase its market share in the low and medium voltage cable accessory market through strategic investments in recognized companies[87] - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market reach, with a budget of 300 million yuan allocated for this purpose[92] Corporate Governance - The company emphasizes transparency, adhering to information disclosure regulations and ensuring equal access to information for all shareholders[98] - The company maintains complete independence from its controlling shareholder in terms of business, assets, personnel, and finance, with no shared assets or conflicts of interest[101] - The company has established an independent financial department and accounting system, ensuring no interference from the controlling shareholder in financial decisions[103] - The company has a strong commitment to corporate governance, as evidenced by the structured oversight of its board and management[110] Shareholder Relations - The company held 2 shareholder meetings during the reporting period, ensuring compliance with regulations and protecting shareholder rights[96] - The cash dividend distribution plan for 2021 is set at CNY 2.20 per 10 shares, amounting to a total cash dividend of CNY 41,603,331.66, which represents 100% of the profit distribution[135] - The company has a three-year dividend return plan to ensure a stable return for shareholders[134] Social Responsibility - The company has maintained a commitment to social responsibility, including donations to educational funds and community support activities[149] - The company has actively implemented environmental management standards to optimize product structure and improve production efficiency, achieving energy conservation and emission reduction goals[151] Employee Management - The company has established a performance-oriented salary system to motivate employees and share the benefits of sustainable development[132] - The employee training program combines internal and external training to enhance professional skills and overall quality[133] - The company has a total of 46 employees with a postgraduate degree, indicating a focus on higher education within its workforce[131]

Financial Performance - The company's operating revenue for Q3 2021 was ¥242,773,833.20, representing a year-on-year increase of 1.83%[3] - The net profit attributable to shareholders for Q3 2021 was ¥23,695,007.86, a decrease of 9.43% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥18,295,642.77, down 23.98% year-on-year[3] - The total operating revenue for the period reached RMB 733,217,847.54, an increase from RMB 658,963,805.54 in the previous period[17] - The net profit for Q3 2021 was CNY 113,036,100.85, an increase of 6.3% compared to CNY 106,041,278.61 in Q3 2020[20] - The total comprehensive income for the period was CNY 113,036,100.85, up from CNY 106,041,278.61 in the previous year, marking a growth of 6.3%[20] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date was -¥57,483,308.81, a decline of 124.06% compared to the previous year[3] - The cash and cash equivalents decreased by 41.54% to ¥256,693,498.97 due to increased investments in financial products[8] - The cash flow from operating activities showed a net outflow of CNY 57,483,308.81, worsening from a net outflow of CNY 25,655,232.14 in the same period last year[22] - The cash and cash equivalents at the end of the period were CNY 241,247,660.32, compared to CNY 215,696,985.70 at the end of Q3 2020, showing an increase of 11.8%[23] - The company incurred a total cash outflow from investing activities of CNY 87,370,319.85, an improvement from a significantly higher outflow of CNY 478,371,664.72 in the previous year[22] - The total cash outflow from financing activities was CNY 40,846,266.37, a decrease from CNY 84,739,975.55 in the same period last year, indicating improved cash management[22] Assets and Liabilities - The total assets at the end of Q3 2021 were ¥1,984,273,087.14, an increase of 0.99% from the end of the previous year[3] - The company's total assets as of September 30, 2021, were RMB 1,984,273,087.14, compared to RMB 1,964,762,880.08 at the end of the previous year[17] - The total liabilities decreased to RMB 376,541,577.56 from RMB 428,738,552.16, showing improved financial stability[16] Operational Costs and Expenses - The total operating costs amounted to RMB 616,307,617.61, compared to RMB 541,972,151.92 in the previous period, indicating a significant rise in costs[17] - Research and development expenses were RMB 46,207,675.64, up from RMB 38,460,284.12, reflecting a focus on innovation[17] Shareholder Value - The company's equity attributable to shareholders reached RMB 1,607,731,509.58, up from RMB 1,536,024,327.92, reflecting growth in shareholder value[17] - The company reported a net profit increase, with undistributed profits rising to RMB 797,466,140.97 from RMB 725,758,959.31, indicating strong profitability[17] - The company's weighted average return on equity was 1.48%, down 0.30% from the previous year[3] - The company reported a basic and diluted earnings per share of CNY 0.63, compared to CNY 0.59 in the previous year, indicating a 6.8% increase[20] Inventory and Receivables - Accounts receivable increased to RMB 579,037,749.97 from RMB 537,508,104.58, suggesting a growing customer base[15] - Inventory levels rose to RMB 239,611,618.70 from RMB 183,620,476.76, which may indicate increased production or stockpiling[15] Other Income - The company's other income increased by 50.84% to ¥8,635,621.65, primarily due to increased government subsidies[8] - The investment income for the year-to-date was ¥6,883,464.33, reflecting a 67.40% increase compared to the previous year[8] Prepayments - The company reported a significant increase in prepayments by 65.01% to ¥14,860,805.61, attributed to higher material payments[8] Leasing Standards - The company did not adjust the initial balance sheet items for the new leasing standards as there were no applicable lease assets at the beginning of the reporting period[24]

证券代码：002879 证券简称：长缆科技 公告编号：2021-039 长缆电工科技股份有限公司 | --- | --- | |--------------------------------------------|----------------------------------------------------------------------| | | | | | | | 关于参加 2021 年湖南辖区上市公司投资者 | | | 网上集体接待日活动的公告 | | | | 本公司及全体董事会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。 | | 为进一步强化与投资者的沟通交流，使广大投资者能更深入全面地了解公司情况， 长缆电工科技股份有限公司（以下简称"公司"）将参加由中国证券监督管理委员会 湖南监管局主办、湖南省上市公司协会与深圳市全景网络有限公司协办的"2021年湖 南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： 本次投资者网上集体接待日活动将通过深圳市全景网络有限公司提供的互联网平 台 ， 采 取 网 络 远程的 方 式 举 行 ， ...

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 490,444,014.34, representing a 16.62% increase compared to CNY 420,541,985.21 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 89,341,092.99, an increase of 11.85% from CNY 79,879,183.93 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was CNY 80,522,083.26, up 10.25% from CNY 73,039,087.03 in the same period last year[18]. - The basic earnings per share increased to CNY 0.50, a rise of 13.64% compared to CNY 0.44 in the previous year[18]. - The total operating revenue for the first half of 2021 was CNY 490,444,014.34, an increase of 16.6% compared to CNY 420,541,985.21 in the first half of 2020[121]. - The total profit for the first half of 2021 was CNY 99,449,653.30, up from CNY 89,473,641.03 in the previous year, marking a growth of 11.0%[123]. - The company's total comprehensive income for the first half of 2021 was CNY 89,341,092.99, compared to CNY 79,879,183.93 in the same period of 2020, reflecting a growth of 11.5%[124]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,954,392,809.11, a decrease of 0.53% from CNY 1,964,762,880.08 at the end of the previous year[18]. - The company's cash and cash equivalents decreased by 12.53% to CNY 191,864,074.05 due to the purchase of financial products that had not yet matured[44]. - Accounts receivable increased by 14.54% to CNY 615,525,633.06, reflecting a 4.13% increase in proportion to total assets[44]. - The total liabilities decreased to CNY 370,356,307.39 from CNY 428,738,552.16, a reduction of 13.6%[116]. - The total assets as of June 30, 2021, were CNY 1,982,299,691.47, slightly down from CNY 1,985,814,777.64 at the end of 2020[119]. Research and Development - The company has significantly increased its investment in R&D, particularly in high voltage and smart cable accessory products, to enhance its core competitiveness[29]. - Research and development expenses amounted to CNY 30,429,433.86, which is a 22.56% increase from CNY 24,828,628.06 in the same period last year[35]. - The average R&D expenditure over the past three years has accounted for more than 5% of the main business income, indicating a strong commitment to innovation[30]. - The company invested CNY 30,429,433.86 in R&D during the first half of 2021, an increase of 22.7% compared to CNY 24,828,628.06 in the same period last year[121]. Market and Competition - The company operates a direct sales model targeting major state-owned power grids and key industry clients, enhancing its market share[27]. - The company has a strong competitive advantage in the cable accessory industry, particularly during economic downturns, leading to rapid market share growth[29]. - The company is exposed to market competition risks, particularly in the medium and low voltage cable accessory market, and aims to leverage scale and technology to reduce costs[54]. - The company intends to maintain its leading position in high voltage cable accessories and support national key projects to sustain performance growth[55]. Cash Flow - The net cash flow from operating activities improved to -CNY 64,814,929.34, a 22.76% improvement from -CNY 83,908,533.07 in the same period last year[18]. - The company's cash flow from operating activities in the first half of 2021 was CNY 354,313,905.07, compared to CNY 258,936,352.35 in the same period of 2020, indicating a significant increase[130]. - The total cash inflow from operating activities increased by 33.4%, while cash outflow increased by 20.3%, leading to a net cash flow improvement[135]. Shareholder Information - The total number of shares before the change was 193,107,640, with 33.55% being restricted shares and 66.45% being unrestricted shares[94]. - The largest shareholder, Yu Zhengyuan, held 33.97% of the shares, amounting to 65,604,035 shares, with a pledge of 20,000,000 shares[99]. - The total number of shareholders at the end of the reporting period was 13,187[99]. - The company reported a total of 13,693,212 restricted shares at the beginning of the period, with 5,866,455 shares released during the period[97]. Environmental Compliance - The company emphasizes environmental compliance and has not faced any administrative penalties related to environmental issues during the reporting period[64]. - The company emphasizes environmental protection and energy conservation in its production processes, aiming to reduce waste rates and production costs[67]. Accounting Policies - The financial statements comply with the requirements of the enterprise accounting standards, accurately reflecting the company's financial position, operating results, and cash flows[153]. - The company recognizes financial assets and liabilities based on their fair value at initial recognition, with subsequent measurement methods varying by classification[162][163]. - The company employs valuation techniques to determine the fair value of financial assets and liabilities, categorized into three levels based on the observability of inputs[167].

Financial Performance - The company's operating revenue for Q1 2021 was ¥174,681,401.15, representing a 6.18% increase compared to ¥164,509,901.67 in the same period last year[8] - The net profit attributable to shareholders was ¥29,294,127.96, a slight decrease of 0.69% from ¥29,496,222.45 year-on-year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥23,458,583.62, down 16.07% from ¥27,951,515.43 in the previous year[8] - Total operating revenue for Q1 2021 was CNY 174,681,401.15, an increase from CNY 164,509,901.67 in the previous period[41] - Net profit for Q1 2021 was CNY 29,294,127.96, slightly down from CNY 29,496,222.45 in the previous period[43] - The total comprehensive income for the current period is CNY 26,243,647.99, down from CNY 31,368,108.93 in the previous period[48] Cash Flow - The net cash flow from operating activities improved to -¥57,881,977.98, a 10.66% improvement from -¥64,788,711.30 in the same period last year[8] - The net cash flow from operating activities was -68,512,263.71 yuan, compared to -57,399,729.66 yuan in the previous period, indicating a decline in operational cash flow[53] - Total cash inflow from operating activities was 168,395,361.17 yuan, while cash outflow was 236,907,624.88 yuan, resulting in a significant cash outflow[53] - Cash inflow from investment activities amounted to 494,142,451.44 yuan, with a net cash flow of 336,137,201.56 yuan, a substantial improvement from the previous period[55] - The cash flow from financing activities showed a net outflow of -19,934,751.45 yuan, indicating a reduction in financing activities[55] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,914,541,257.28, a decrease of 2.56% from ¥1,964,762,880.08 at the end of the previous year[8] - The total current assets decreased to ¥1,561.71 million from ¥1,615.47 million, reflecting a decline of about 3.3%[33] - The company's total assets as of March 31, 2021, were ¥1,914.54 million, down from ¥1,964.76 million, a decrease of approximately 2.5%[34] - The total liabilities decreased to ¥349.22 million from ¥428.74 million, indicating a reduction of about 18.5%[35] - Total liabilities decreased to CNY 374,456,127.42 from CNY 440,757,865.97[39] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 16,269[12] - The top shareholder, Yu Zhengyuan, holds 33.97% of the shares, with 65,604,035 shares, of which 49,203,026 are pledged[12] Expenses - Management expenses increased by 32.46% to ¥17,168,023.40 due to higher personnel costs[17] - R&D expenses rose by 55.27% to ¥14,934,914.31, primarily driven by increased salaries and experimental costs[17] - Operating costs for Q1 2021 were CNY 153,403,010.11, up from CNY 129,892,109.71 in the previous period, with operating costs specifically rising from CNY 74,379,929.18 to CNY 86,412,261.91[42] Investment Activities - Investment income surged by 536.30% to ¥3,668,489.67, attributed to higher financial management returns[17] - Cash flow from investment activities improved by 164.59% to ¥335,686,000.19, mainly due to the redemption of entrusted financial management funds[17] - The company reported a cash outflow of 150,000,000.00 yuan related to investment activities, down from 500,000,000.00 yuan in the previous period[55] Government Support - The company received government subsidies amounting to ¥2,552,753.92, a 41.65% increase compared to the previous year[17] Projects and Developments - The 500kV and below DC cable accessory expansion project has a completion date extended to July 2023 due to market demand changes and project delays[23] - The R&D center construction project is 97.75% complete, with an expected completion date of July 2021[23] - The marketing system construction project has exceeded its planned investment by 5.16%, with a completion date set for July 2021[23] Miscellaneous - The company did not repurchase any shares during the reporting period, resulting in a 100% change in financing cash flow[17] - The company has not reported any violations regarding external guarantees during the reporting period[28] - The company has not anticipated significant changes in net profit for the first half of 2021 compared to the same period last year[25] - The company did not undergo an audit for the first quarter report, which may affect the reliability of the financial data presented[57]

Financial Performance - The company's operating revenue for 2020 was CNY 940,579,693.14, representing a 10.30% increase compared to CNY 852,775,282.90 in 2019[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 146,870,215.78, up 15.66% from CNY 126,979,765.49 in the previous year[16]. - The basic earnings per share for 2020 was CNY 0.900, reflecting a 16.88% increase from CNY 0.77 in 2019[16]. - The company's total assets at the end of 2020 amounted to CNY 1,964,762,880.08, an increase of 8.22% from CNY 1,815,466,378.64 at the end of 2019[16]. - The net cash flow from operating activities decreased by 48.14% to CNY 80,783,605.97 from CNY 155,771,476.75 in 2019[16]. - The weighted average return on net assets was 10.92%, up from 9.64% in the previous year[16]. - The company reported a significant decrease in cash flow from operating activities, indicating potential liquidity challenges[16]. - The company achieved a revenue of 940.58 million yuan, representing a year-on-year growth of 10.3%[39]. - The net profit attributable to shareholders was 161.60 million yuan, an increase of 10.91% year-on-year, while the net profit after deducting non-recurring gains and losses was 146.87 million yuan, up 15.66%[39]. Cash Dividend and Shareholder Returns - The company plans to distribute a cash dividend of CNY 2.3 per 10 shares, based on a total of 179,690,953 shares[5]. - The cash dividend for 2019 was 2.10 RMB per 10 shares, amounting to approximately 37.74 million RMB, representing 25.90% of the net profit attributable to shareholders[109]. - The company's total net profit for 2020 was approximately 161.60 million RMB, with cash dividends accounting for 25.58% of this amount[109]. - The company has established a three-year dividend return plan to ensure a stable return to shareholders[104]. - The total cash dividend, including other methods, amounted to 88,323,451.99 yuan, representing 100% of the distributable profit[110]. Research and Development - The company has a strong R&D capability, continuously investing in core technologies such as insulation materials and cable accessory system design[27]. - The company has invested over 5% of its main business income in R&D expenses over the past three years, enhancing its capacity for continuous product innovation[31]. - The company's R&D investment for 2020 was CNY 61.35 million, accounting for 6.52% of total revenue, an increase of 16.67% compared to 2019[58]. - The company has developed significant breakthroughs in R&D, including the 500kV series products and new energy series products, enhancing its product offerings[40]. - The company has established a high-efficiency R&D innovation system, leveraging over 60 years of technical experience and collaboration with various power companies[33]. Market and Sales Performance - The company's total revenue for Q1, Q2, Q3, and Q4 were approximately ¥164.51 million, ¥256.03 million, ¥238.42 million, and ¥281.62 million respectively, showing a strong performance in Q2 and Q4[20]. - Net profit attributable to shareholders for the same quarters was approximately ¥29.50 million, ¥50.38 million, ¥26.16 million, and ¥55.56 million, indicating significant growth in Q2 and Q4[20]. - The revenue from cable accessories and related products accounted for 99.56% of total revenue, with a year-on-year growth of 11.49%[44]. - The sales volume of cable accessories increased by 8.99% to 1,107,934 units in 2020, compared to 1,016,556 units in 2019[49]. - The marketing network has expanded to cover all provincial regions, with plans to establish sales institutions in 150 county-level cities[42]. Strategic Initiatives and Future Outlook - The company has established a clear development strategy focusing on technology-driven growth, marketing system construction, overseas market expansion, and industrial investment, ensuring sustained performance growth[88]. - The company aims to replicate its domestic competitive advantages in international markets, targeting high-end products in Europe and the U.S. while promoting medium and low-voltage products in emerging markets[90]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[99]. - A strategic acquisition of a local competitor is expected to enhance the company's product offerings and market reach, with an estimated cost of 300 million RMB[98]. - The company provided a future outlook projecting a revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[99]. Operational Efficiency and Management - The company has implemented a lean production management approach, improving efficiency and reducing costs across various departments[39]. - The management team has implemented new strategies to improve operational efficiency, aiming for a 5% reduction in costs over the next year[190]. - The company has established a performance-oriented compensation system based on job responsibilities and work performance[198]. - The board of directors has approved a performance-based incentive plan for senior management, linked to achieving specific financial targets[193]. - The company has maintained a strong cash position, with cash reserves reported at 300 million yuan, ensuring liquidity for future investments[190]. Risk Management - The company recognizes risks from macroeconomic changes, market competition, and customer concentration, and plans to enhance its marketing system and internal management to mitigate these risks[93][94]. - The company faces significant risks from raw material price fluctuations, which could impact its operating performance, and will focus on improving material utilization and production efficiency[95]. Corporate Governance and Compliance - The company has not engaged in any significant related party transactions during the reporting period[125]. - The company did not experience any major litigation or arbitration matters during the reporting period[121]. - The company has established a robust decision-making process for adjusting its cash dividend policy, ensuring transparency and compliance[105]. - The company emphasizes the importance of maintaining shareholder interests and has a clear cash dividend policy[105].