证券代码：002927 证券简称：泰永长征 公告编号：2022-024 1 贵州泰永长征技术股份有限公司 关于举办 2021 年度业绩说明会暨投资者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、完整，没有虚假 记载、误导性陈述或重大遗漏。 贵州泰永长征技术股份有限公司（以下简称"公司"）已于2022年4月22日 在巨潮资讯网（www.cninfo.com.cn）上披露了《2021年年度报告》及《2021年年 度报告摘要》。为促进公司规范运作、健康发展，增强公司信息透明度，加强与 广大投资者沟通交流，进一步提升投资者关系管理水平，贵州证监局、贵州证券 业协会联合深圳市全景网络有限公司，将于2022年5月13日09:30-11:30在"全景 路演"（http://rs.p5w.net）举办"2021年度贵州辖区上市公司业绩说明会暨投资 者集体接待日活动"。 出席本次活动人员有：董事长、总经理黄正乾先生，董事、副总经理贺贵兵 先生，董事会秘书、财务负责人韩海凤女士，独立董事刘善敏先生。 为充分尊重投资者、提升交流的针对性，现就公司本次活动提前向投资者公 开征集问题，广泛听取投资者的意见和 ...

Financial Performance - The company's operating revenue for 2021 was CNY 953,380,930.66, representing a 22.37% increase compared to CNY 779,118,593.56 in 2020[17]. - The net profit attributable to shareholders for 2021 was CNY 95,821,577.82, up 13.75% from CNY 84,236,226.69 in the previous year[17]. - The net cash flow from operating activities increased by 92.98% to CNY 52,321,544.64 in 2021, compared to CNY 27,112,397.21 in 2020[17]. - The basic earnings per share for 2021 was CNY 0.43, a 13.16% increase from CNY 0.38 in 2020[17]. - Total assets at the end of 2021 reached CNY 1,390,905,005.45, reflecting a 14.65% increase from CNY 1,213,131,482.21 at the end of 2020[17]. - The net assets attributable to shareholders increased by 8.86% to CNY 924,099,919.03 at the end of 2021, compared to CNY 848,894,205.10 at the end of 2020[17]. - The company reported a total revenue of 1.5 billion CNY for the year 2021, representing a year-over-year growth of 20%[195]. - The company reported a net profit of 1.5 billion yuan for the fiscal year 2021, representing a year-on-year increase of 20%[190]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 1.20 per 10 shares, totaling CNY 26,784,109.08 based on 223,209,090 shares[5]. - The company reported a cash dividend of 1.20 yuan per 10 shares, amounting to a total cash dividend of 26,785,090.80 yuan, which represents 100% of the profit distribution total[151][152]. - The total distributable profit for the company was 179,454,864.80 yuan[152]. - The company has not proposed any cash dividend distribution plan despite having positive distributable profits for the reporting period[151]. Research and Development - The company is increasing its R&D investment and laboratory construction to enhance its technological innovation capabilities in the low-voltage distribution sector[28]. - Research and development expenses rose by 36.61% to ¥47,153,798.38 in 2021, reflecting increased investment in R&D[76]. - The number of R&D personnel rose to 181, a 19.08% increase from 2020, with a notable increase in the proportion of personnel under 30 years old by 137%[81]. - Research and development expenses increased by 30% to 300 million yuan, focusing on new technologies and product innovations[190]. Product Development and Innovation - The company has launched new products in the fields of power distribution and new energy charging, establishing a complete product line in the industry[28]. - The company has developed a smart distribution management cloud platform, enhancing its ability to provide customized solutions for various industries[29]. - The company has launched solid-state circuit breakers, leading the industry in this technology[38]. - New product launches included two innovative technology solutions aimed at enhancing operational efficiency, expected to contribute an additional 200 million CNY in revenue[196]. Market Strategy and Expansion - The company aims to become a leader in energy efficiency management and smart electrical solutions, focusing on the low-voltage distribution industry[26]. - The company is focusing on expanding its market presence in the smart grid and renewable energy sectors, aligning with national energy strategies[81]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[195]. - The company is committed to enhancing the competitiveness of its products through continuous upgrades in technology and production equipment[98]. Corporate Governance - The company has implemented a robust corporate governance structure, enhancing operational efficiency and compliance[116]. - The board of directors consists of 8 members, including 3 independent directors, ensuring compliance with legal requirements[117]. - The company maintains a complete separation from its controlling shareholder in terms of assets, personnel, finance, and operations[120]. - The company has established an independent financial department and maintains its own bank accounts, ensuring financial independence[121]. Risk Management - The company has faced risks related to future development, as outlined in the management discussion section of the report[5]. - The company anticipates risks from economic fluctuations due to COVID-19 and international disputes, which may impact market demand and procurement costs[110]. - The real estate market's downturn poses a risk to the low voltage electrical industry, prompting the company to diversify its business structure[110]. - The company faces risks from intensified market competition that could lead to a decline in gross margins, necessitating continued investment in R&D[112]. Sustainability and Social Responsibility - The company has been recognized as a green design demonstration enterprise by the Ministry of Industry and Information Technology, highlighting its commitment to sustainable practices[55]. - The company aims to integrate social responsibility into its business operations, focusing on customer satisfaction and sustainable development[172]. - The company has established a charitable fund to support underprivileged groups in western regions, including educational assistance and disaster relief efforts[178]. - The company has implemented an environmental management system in compliance with ISO 14001 standards, focusing on waste reduction and energy conservation[177]. Employee Management - The total number of employees at the end of the reporting period was 1,424, with 632 in the parent company and 792 in major subsidiaries[146]. - The company has established a comprehensive talent development plan focusing on leadership, R&D, marketing, and manufacturing training programs[149]. - The company’s employee compensation policy is designed to align with performance and company growth, ensuring competitive and fair remuneration[147]. - The company has not engaged in labor outsourcing during the reporting period[150]. Financial Management - The company has established a comprehensive internal control system that complies with relevant regulations and is continuously improved[161]. - The company reported a total asset amount that accounted for 100% of the consolidated financial statements[163]. - The company will ensure compliance with all relevant regulations during the share reduction process[188]. - The company has committed to ensuring the accuracy and completeness of its prospectus, bearing legal responsibility for any misstatements[189].

Revenue and Profit - Revenue for Q1 2022 reached ¥213,107,993.16, an increase of 21.36% compared to ¥175,597,555.13 in the same period last year[2] - Net profit attributable to shareholders was ¥13,392,793.06, reflecting a growth of 23.08% from ¥10,881,061.38 year-over-year[2] - Net profit excluding non-recurring items was ¥12,715,048.22, up 20.77% from ¥10,528,336.30 in the previous year[2] - Basic earnings per share increased to ¥0.06, a rise of 20.00% compared to ¥0.05 in the same period last year[2] - Total operating revenue for the first quarter was CNY 213,107,993.16, an increase of 21.4% compared to CNY 175,597,555.13 in the previous year[15] - Net profit for the quarter reached CNY 16,434,017.86, representing a growth of 19.0% from CNY 13,811,070.44 in the prior year[16] - The total comprehensive income for the period was CNY 16,434,017.86, compared to CNY 13,811,070.44 in the previous period, representing an increase of approximately 19%[17] - The net profit attributable to the parent company was CNY 13,392,793.06, up from CNY 10,881,061.38, reflecting a growth of about 23%[17] - Basic and diluted earnings per share increased to CNY 0.06 from CNY 0.05, marking a 20% rise[17] Assets and Liabilities - Total assets at the end of Q1 2022 amounted to ¥1,417,625,987.74, representing a 1.92% increase from ¥1,390,905,005.45 at the end of the previous year[2] - The total assets of the company increased to CNY 1,417,625,987.74 from CNY 1,390,905,005.45, marking a growth of 1.9%[12] - The total liabilities increased to CNY 410,422,985.39 from CNY 400,606,815.57, reflecting a rise of 2.0%[13] - Shareholders' equity attributable to the parent company was ¥937,963,506.70, up 1.50% from ¥924,099,919.03 at the end of the last fiscal year[2] - The company’s equity attributable to shareholders increased to CNY 937,963,506.70 from CNY 924,099,919.03, a growth of 1.5%[13] Cash Flow - The net cash flow from operating activities improved to -¥41,173,893.15, a 21.79% reduction in losses compared to -¥52,647,930.90 in the same period last year[2] - Cash inflows from operating activities totaled CNY 153,409,466.16, down from CNY 168,374,835.64, indicating a decrease of around 9%[20] - Cash outflows from operating activities were CNY 194,583,359.31, compared to CNY 221,022,766.54, a reduction of approximately 12%[20] - The net cash flow from operating activities was -CNY 41,173,893.15, an improvement from -CNY 52,647,930.90 in the previous period[20] - Cash flow from investing activities generated a net inflow of CNY 22,459,001.94, compared to a net outflow of CNY 55,422,363.00 previously[21] - Cash flow from financing activities resulted in a net inflow of CNY 4,985,808.03, up from CNY 2,765,075.90 in the prior period[21] - The ending cash and cash equivalents balance was CNY 87,793,286.38, down from CNY 104,695,640.34, a decrease of about 16%[21] - The company reported a decrease in cash and cash equivalents to CNY 98,148,123.27 from CNY 112,181,944.65, a decline of 12.5%[12] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,255[6] - The company plans to repurchase and cancel 146,510 restricted stocks, reducing the total shares from 223,355,600 to 223,209,090[8] Research and Development - Research and development expenses for the quarter were CNY 10,946,601.44, up 31.5% from CNY 8,326,081.62 in the previous year[16] Other Information - The company reported non-recurring gains and losses totaling ¥677,744.84 for the quarter[4] - The report for the first quarter was not audited[22]

Financial Performance - The company's revenue for Q3 2021 reached ¥250,564,675.53, representing a 9.55% increase year-over-year[2] - Net profit attributable to shareholders was ¥31,852,876.17, up 13.34% compared to the same period last year[2] - The net profit excluding non-recurring items was ¥29,568,307.88, reflecting a 15.46% increase year-over-year[2] - Total operating revenue for the current period reached ¥686,466,319.22, an increase of 23.05% compared to ¥557,721,986.85 in the previous period[18] - Net profit for the current period was ¥87,307,570.77, representing a 11.66% increase from ¥78,477,657.70 in the previous period[19] - Basic and diluted earnings per share increased to ¥0.35 from ¥0.29, reflecting a growth of 20.69%[20] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥1,356,116,431.68, an increase of 11.79% from the end of the previous year[2] - The company's current assets totaled RMB 1,042,753,188.47, up from RMB 931,607,157.03 at the end of 2020, indicating an increase of about 11.9%[15] - Total liabilities reached RMB 388,615,929.78, up from RMB 298,387,012.04, which is an increase of approximately 30.3%[16] - The company's equity attributable to shareholders was RMB 904,497,712.57, compared to RMB 848,894,205.10 at the end of 2020, reflecting an increase of about 6.6%[17] Cash Flow - Cash flow from operating activities showed a net outflow of ¥902,583.10, a significant decline of 91.98% year-to-date[2] - Cash flow from operating activities showed a net outflow of ¥902,583.10, an improvement from a net outflow of ¥11,253,549.43 in the previous period[23] - Cash and cash equivalents decreased to RMB 140,673,714.30 from RMB 223,232,297.66, a decline of approximately 37.0%[14] - Cash and cash equivalents at the end of the period were ¥130,137,800.19, down from ¥137,910,172.46 at the end of the previous period[24] Operating Costs and Expenses - The company reported a 36.03% increase in operating costs, totaling ¥454,734,138.41, driven by sales growth[6] - Total operating costs amounted to ¥598,679,661.43, up 29.31% from ¥462,822,757.39 in the prior period[18] - Research and development expenses increased to ¥29,981,746.41, up 22.93% from ¥24,402,445.77 in the prior period[18] Government Support and Subsidies - The company received government subsidies amounting to ¥11,486,422.88, a 94.03% increase compared to the previous year[6] Changes in Management - The company appointed a new financial officer, Han Haifeng, on August 11, 2021, following the resignation of the previous officer[11] - The company held its second extraordinary general meeting on October 21, 2021, to elect new board members and complete the board restructuring process[12] Asset Quality - The company reported a decrease in credit impairment losses to ¥8,242,407.24 from ¥16,187,002.04, indicating improved asset quality[19] Future Plans - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[20] Audit and Compliance - The company has not undergone an audit for the third quarter report[29] - The company adopted new leasing standards starting from 2021, requiring adjustments to the balance sheet[25]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥435,901,643.69, representing a 32.49% increase compared to ¥329,006,686.83 in the same period last year[20]. - The net profit attributable to shareholders was ¥45,702,170.35, up 25.58% from ¥36,393,064.07 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥43,423,721.35, reflecting a 39.39% increase from ¥31,151,644.55 year-on-year[20]. - The basic earnings per share increased to ¥0.2034, a rise of 25.02% compared to ¥0.1627 in the same period last year[20]. - The total operating revenue for the reporting period reached CNY 435,901,643.69, representing a year-on-year increase of 32.49% compared to CNY 329,006,686.83 in the same period last year[52]. - The total profit for the first half of 2021 was CNY 55,848,984.87, representing an increase of 10.9% from CNY 50,759,296.81 in the first half of 2020[150]. - The company's operating profit reached CNY 55,882,589.96, which is a 20.3% increase from CNY 46,443,153.26 in the previous year[150]. - The total comprehensive income for the first half of 2021 was CNY 52,382,185.57, compared to CNY 44,575,082.95 in the same period of 2020, marking an increase of 17.5%[148]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,271,145,334.36, which is a 4.78% increase from ¥1,213,131,482.21 at the end of the previous year[20]. - The total liabilities increased to CNY 328.16 million as of June 30, 2021, compared to CNY 298.39 million at the end of 2020, representing a growth of 9.97%[140]. - The company's total assets amounted to CNY 40,128.18 million, with net assets of CNY 19,068.37 million[63]. - The company's cash and cash equivalents decreased to CNY 131,339,301.46, accounting for 10.33% of total assets, down from 18.40%[56]. - Accounts receivable increased to CNY 439,170,793.77, representing 34.55% of total assets, up from 30.86%[56]. - Inventory rose to CNY 219,719,866.16, making up 17.29% of total assets, compared to 15.40% last year[56]. Research and Development - The company focuses on the R&D, production, and sales of medium and low voltage electrical components and systems, including dual power automatic transfer switches, circuit breakers, transformers, and new energy charging equipment[28]. - The company is increasing R&D investment in smart IoT electrical equipment, aiming to create an intelligent cloud platform ecosystem[28]. - Research and development investment increased by 26.86% to CNY 19,997,750.77, up from CNY 15,763,458.98[54]. - The company has a dedicated R&D team and has consistently increased its investment in research, resulting in numerous patents and participation in the formulation of national and industry standards[45]. Market Strategy and Risks - The company faces risks including market competition, raw material price fluctuations, and potential bad debts from accounts receivable[4]. - The company aims to establish a leading domestic brand in the medium and low voltage electrical industry, enhancing its brand image in the high-end market[28]. - The company is actively expanding its business in the domestic rail transit sector, capitalizing on existing market foundations[41]. - The company is leveraging national dual carbon strategies and new infrastructure initiatives to capture market opportunities in 5G infrastructure, data centers, and smart homes[28]. Corporate Governance and Social Responsibility - The company emphasizes social responsibility, focusing on safety, environmental protection, and resource conservation[82]. - The company has not yet initiated poverty alleviation or rural revitalization efforts but aims to enhance social responsibility as it grows[82]. - The company adheres to the principles of honesty and integrity in its dealings with stakeholders[82]. - The management is focused on achieving sustainable development while balancing economic and social benefits[82]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The actual controller and shareholders have fulfilled their commitments regarding share lock-up periods, which lasted for 36 months from the date of stock listing[85]. - The lock-up period for shares was lifted on February 22, 2021, after completion of the commitment[85]. - The company has committed to stabilizing its stock price through share repurchase plans, which must be approved by a two-thirds majority of voting rights at the shareholders' meeting[87]. Operational Performance - The company reported a strong performance in the first half of 2021, with significant growth in revenue and profit margins[38]. - The operating cost increased by 45.87% to ¥285,387,255.97 from ¥195,645,492.81 in the previous year, driven by the growth in sales performance[49]. - The company has established a stable supply chain for raw materials, ensuring timely delivery and quality standards[39]. - The company has developed self-researched core components for its charging equipment, ensuring high quality and reliability[34]. Financial Health - The net cash flow from operating activities was negative at CNY -19,991,799.67, a decline of 5.78% from CNY -18,899,794.79[54]. - The net increase in cash and cash equivalents was negative at CNY -85,122,987.49, reflecting a 49.32% decrease compared to CNY -57,005,335.94[54]. - The company reported a decrease in net profit of 36,994,000 RMB for the current period, indicating challenges in profitability[164]. - The total owner's equity at the end of the current period is 742,625.1 million yuan, showing a decrease of 17,127.01 million yuan compared to the previous period[166].

Financial Performance - The company's operating revenue for Q1 2021 was ¥175,597,555.13, representing a 70.96% increase compared to ¥102,715,615.15 in the same period last year[8] - Net profit attributable to shareholders was ¥10,881,061.38, up 25.73% from ¥8,654,065.73 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥10,528,336.30, reflecting a 34.79% increase from ¥7,810,914.10 in the previous year[8] - The basic earnings per share increased to ¥0.0500, a rise of 25.00% compared to ¥0.0400 in the same period last year[8] - The company's operating revenue for the current period reached ¥175,597,555.13, representing a 71% increase compared to ¥102,715,615.15 in the same period last year[15] - The net profit for the first quarter of 2021 reached CNY 13,811,070.44, up from CNY 9,740,407.88 in the same period last year, representing a growth of approximately 42.4%[39] - The operating profit for the first quarter was CNY 14,887,888.77, compared to CNY 11,054,511.45 in the previous year, reflecting an increase of about 34.3%[39] - The total comprehensive income for the first quarter was CNY 13,811,070.44, compared to CNY 9,740,407.88 in the previous year, indicating a growth of approximately 42.4%[40] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,241,024,049.95, a 2.30% increase from ¥1,213,131,482.21 at the end of the previous year[8] - The total liabilities increased to CNY 311,521,465.70 from CNY 298,387,012.04, reflecting a growth of approximately 0.38%[32] - The total equity attributable to shareholders reached CNY 860,722,310.12, compared to CNY 848,894,205.10 in the previous period, showing an increase of about 1.0%[33] - The total non-current assets amounted to CNY 284,174,917.10, up from CNY 281,524,325.18, indicating a growth of approximately 1.0%[31] Cash Flow - The net cash flow from operating activities was -¥52,647,930.90, a decline of 90.95% compared to -¥27,571,324.64 in the same period last year[8] - The company reported a 101% increase in cash inflows from operating activities, totaling ¥168,374,835.64 compared to ¥83,950,713.12 in the previous year[16] - The total amount of cash outflows from operating activities was ¥221,022,766.54, a 98% increase from ¥111,522,037.76, mainly due to increased guarantee payments[16] - The company's cash and cash equivalents decreased by 49% to ¥113,728,679.67 from ¥223,232,297.66, primarily due to investments in financial products and increased guarantee payments[15] - The net increase in cash and cash equivalents was negative CNY 105,305,218.00, compared to a positive increase of CNY 30,590,533.36 previously[48] - The ending balance of cash and cash equivalents was CNY 104,695,640.34, down from CNY 232,204,194.06, a decrease of 54.9%[48] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,728[11] - The largest shareholder, Shenzhen Taiyong Technology Co., Ltd., held 54.25% of the shares, totaling 121,328,480 shares[11] Operating Costs and Expenses - Operating costs increased by 94% to ¥115,588,642.30 from ¥59,433,141.99, primarily due to the growth in business performance[15] - The company's total operating costs for the first quarter were CNY 158,830,739.06, up from CNY 90,224,637.05 in the previous year, reflecting an increase of about 76%[38] - Research and development expenses amounted to CNY 8,326,081.62, which is an increase from CNY 6,577,024.61 in the previous year, showing a growth of approximately 26.6%[38] Investment Performance - The company’s investment income showed a significant decline of 697%, resulting in a loss of ¥1,189,612.04 compared to a profit of ¥199,357.40 in the previous year[15] - The investment loss for the first quarter was CNY -1,189,612.04, compared to a gain of CNY 199,357.40 in the previous year, indicating a significant decline in investment performance[38] - The company has not engaged in any securities or derivative investments during the reporting period[18][19] Government Support - The company received government subsidies amounting to ¥472,882.19 during the reporting period[9]

Financial Performance - The company's operating revenue for 2020 was ¥779,118,593.56, representing a 29.54% increase compared to ¥601,461,444.94 in 2019[21]. - The net profit attributable to shareholders for 2020 was ¥84,236,226.69, which is a 14.47% increase from ¥73,587,608.23 in 2019[21]. - The company achieved a basic earnings per share of ¥0.38 in 2020, up 15.15% from ¥0.33 in 2019[22]. - The total assets at the end of 2020 were ¥1,213,131,482.21, an 8.80% increase from ¥1,115,030,483.79 at the end of 2019[22]. - The company reported a total revenue of 1.5 billion yuan for the year 2020, representing a year-on-year growth of 15%[123]. - The company reported a net profit of CNY 300 million for 2020, with a profit margin of 20%[176]. Accounts Receivable and Cash Flow - The company's accounts receivable at the end of the reporting period amounted to 374.34 million RMB, accounting for 30.86% of total assets[6]. - The proportion of accounts receivable increased to 30.86%, up from 28.79% in the previous year, indicating a rise in credit sales[72]. - The net cash flow from operating activities decreased by 45.05% to ¥27,112,397.21 in 2020 from ¥49,336,397.06 in 2019[21]. - Operating cash inflow increased by 33.62% to ¥699,834,471.39, while operating cash outflow rose by 41.80% to ¥672,722,074.18, resulting in a net cash flow of ¥27,112,397.21, a decrease of 45.05% year-on-year[70]. Dividend Policy - The profit distribution plan approved by the board is to distribute a cash dividend of 1.2 RMB per 10 shares, based on a total of 223,663,700 shares[7]. - The company proposed a cash dividend of 1.2 CNY per 10 shares for the fiscal year 2020, totaling 26,839,644 CNY, which is 31.86% of the net profit attributable to shareholders[113]. - The company has maintained a cash dividend policy that complies with its articles of association and shareholder resolutions[109]. - The company has a policy that requires a minimum of 20% of profits to be distributed as cash dividends during its growth phase[115]. Market and Competition - The company faces risks from increased competition in the low-voltage electrical market, primarily from foreign and domestic enterprises[5]. - The company acknowledges significant uncertainties in achieving future development goals due to market conditions and macroeconomic factors[5]. - The company emphasizes the importance of improving operational scale and brand influence to compete effectively in the high-end market[5]. - The company has a strong competitive advantage in technology innovation and quality service within the domestic low-voltage electrical market[5]. Research and Development - The company continued to focus on R&D in smart electrical components and systems, aiming to establish a smart cloud platform ecosystem[28]. - Research and development expenses increased by 13.71% to ¥34,518,173.12, representing 4.43% of total operating revenue[68]. - The number of R&D personnel increased by 20.56% to 129, with R&D personnel accounting for 10.11% of the total workforce[68]. - The company is investing in research and development, allocating 100 million RMB to develop new technologies in the upcoming year[125]. Product Offerings - The company’s product offerings include power electrical appliances, distribution electrical appliances, complete equipment, and transformer equipment[28]. - The company produces dual power automatic transfer switches, including PC-level and CB-level products, with applications in critical power supply scenarios such as medical, rail transportation, and data centers[30]. - The TBBQ6 series PC-level dual power automatic transfer switch meets national standards AC-33A, designed for high reliability power distribution circuits[30]. - The company focuses on high-performance, high-reliability, digital, intelligent, and energy-saving low-voltage electrical products, targeting the mid-to-high-end market[38]. Strategic Acquisitions - The company acquired a 65% stake in Chongqing Yuantong in April 2019, adding transformer business to its main operations[19]. - The company acquired a 20% stake in Shenzhen Aerospace Tai Rui Jie Electronics Co., Ltd. in April 2020, which contributed to its investment income[26]. - The company completed the acquisition of a 20% stake in Shenzhen Aerospace Tai Rui Jie Electronics Co., Ltd., enhancing its technological capabilities[177]. Corporate Governance - The board of directors has confirmed that all members attended the meeting to review the annual report, ensuring accountability for its accuracy[4]. - The company has committed to ensuring the authenticity, accuracy, and completeness of information disclosed during major asset purchases, with a long-term commitment since March 17, 2019[118]. - The company guarantees that it will not engage in any activities that compete with the existing and future businesses of the listed company and its subsidiaries, with a long-term commitment since March 17, 2019[119]. - The company has established a clear commitment to timely disclosure of relevant information during the restructuring process[121]. Environmental and Social Responsibility - Environmental protection is prioritized, with the implementation of an environmental management system in compliance with ISO standards[171]. - The company has established a long-term mechanism for environmental protection management to support sustainable development[171]. - The company emphasizes the importance of social responsibility, aiming for harmonious development with society while pursuing economic benefits[171]. Future Outlook - The company provided a revenue guidance for 2021, projecting a growth rate of 10% to 12% compared to 2020[123]. - The company plans to implement a new customer loyalty program in 2021, which is expected to increase customer retention rates by 15%[123]. - The company is planning to expand its market presence in Southeast Asia, targeting a 5% market share within the next two years[123]. - The company aims to enhance brand strategy and focus on customer value to achieve rapid scale development in strategic niche markets[97].

Financial Performance - Operating revenue for the reporting period reached CNY 228,715,300.02, a year-on-year increase of 15.93%[8] - Net profit attributable to shareholders increased by 24.62% to CNY 28,102,946.16 for the reporting period[8] - The net profit after deducting non-recurring gains and losses rose by 27.62% to CNY 27,586,760.14[8] - Basic earnings per share increased by 24.06% to CNY 0.1258[8] - The company reported a total of RMB 15,420,000.00 in entrusted financial management, with RMB 10,300,000.00 from raised funds[34] - The total operating revenue for the current period reached ¥557,721,986.85, a significant increase of 37.2% compared to ¥406,185,616.47 in the previous period[57] - The net profit for the current period was ¥78,477,657.70, representing a 39.7% increase from ¥56,126,456.48 in the same period last year[59] - The profit attributable to the parent company's shareholders was ¥64,496,010.23, an increase of 25.1% compared to ¥51,516,560.64 in the previous period[60] Asset and Liability Management - Total assets increased by 8.18% to CNY 1,206,220,009.78 compared to the end of the previous year[8] - The company's total assets decreased by 30.58% in other current assets, primarily due to reduced cash management amounts[16] - Total liabilities amounted to CNY 302,760,031.58, up from CNY 272,672,420.31, which is an 11.0% increase[43] - Shareholders' equity increased to CNY 903,459,978.20 from CNY 842,358,063.48, showing a 7.3% growth[44] - The company’s total liabilities to equity ratio stands at approximately 0.33, indicating a relatively low leverage position[43] - The company has deferred income tax liabilities amounting to CNY 3,667,647.37, which may impact future tax obligations[75] Cash Flow Analysis - Cash flow from operating activities showed a significant decline of 55.93%, totaling CNY 7,646,245.36[8] - The net cash flow from operating activities was negative CNY 11,253,549.43, compared to a positive CNY 29,161,825.05 in the same period last year[66] - Cash inflow from investment activities totaled CNY 176,852,271.65, down from CNY 516,945,865.76 in Q3 2019, indicating a decline of about 65.8%[67] - Cash inflow from financing activities was CNY 27,154,120.00, significantly higher than CNY 5,680,000.00 in Q3 2019[67] - The ending cash and cash equivalents balance was CNY 137,910,172.46, down from CNY 145,552,625.83 at the end of Q3 2019[67] Shareholder Information - The total number of shareholders at the end of the reporting period was 16,595[12] - The largest shareholder, Shenzhen Taiyong Technology Co., Ltd., holds 54.24% of the shares[12] - The company raised a total of RMB 346,591,000.00 from the public offering of 23.45 million shares at RMB 14.78 per share, with a net amount of RMB 310,549,038.00 after deducting issuance costs[31] Investment and Expansion Plans - The company plans to issue convertible bonds, pending approval from the China Securities Regulatory Commission[22] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[51] - The company has ongoing construction projects with capitalized costs of CNY 17,660,330.85, up from CNY 3,195,750.13, indicating a focus on expansion[42] Operational Efficiency - Operating costs amounted to ¥334,297,176.71, reflecting a 36.49% increase due to sales growth[16] - The company reported a significant increase in construction in progress, rising by 452.62% to ¥17,660,330.85, attributed to new factory construction[16] - The company achieved a gross profit margin of approximately 17.9% for the current period, compared to 12.8% in the previous period[50] Corporate Governance - The company has no violations regarding external guarantees during the reporting period[35] - There are no non-operating fund occupations by controlling shareholders or related parties reported[35] - The company’s board member Xu Chengbin resigned due to personal reasons, which will not affect the board's normal operations[25] - The company has not engaged in any securities or derivative investments during the reporting period[29][30]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥329,006,686.83, representing a 57.50% increase compared to ¥208,895,008.66 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was ¥36,393,064.07, up 25.64% from ¥28,965,976.38 in the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥31,151,644.55, reflecting a 32.44% increase from ¥23,520,666.62 in the same period last year[17]. - The basic earnings per share increased to ¥0.1630, a rise of 25.10% compared to ¥0.1303 in the previous year[17]. - The total assets at the end of the reporting period were ¥1,184,134,335.08, which is a 6.20% increase from ¥1,115,030,483.79 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company were ¥810,745,593.70, up 2.12% from ¥793,923,208.68 at the end of the previous year[17]. - The net cash flow from operating activities was negative at -¥18,899,794.79, a decline of 260.03% compared to a positive cash flow of ¥11,810,078.06 in the same period last year[17]. - The weighted average return on net assets was 4.42%, an increase of 0.53% from 3.89% in the previous year[17]. Investment and Acquisitions - The company acquired a 20% stake in Shenzhen Aerospace Tai Rui Jie Electronics Co., Ltd. for an initial investment of 14,580,000.00 CNY, resulting in a recognized gain of 4,343,025.32 CNY[21]. - The company has completed the acquisition of 20% equity in Shenzhen Aerospace Tai Rui Electronics Co., Ltd. for RMB 80 million[59]. - The acquisition of a 65% stake in Chongqing Yuantong was completed on April 25, 2019, with a total investment of RMB 10,150 million[65]. - The company has established strategic partnerships with several leading domestic real estate companies, further solidifying its market position in niche sectors[48]. Research and Development - The company focuses on the R&D, production, and sales of medium and low voltage electrical components and systems, targeting the high-end market in China[24]. - The company is enhancing its R&D in smart electrical components and systems, aiming to establish a smart cloud platform ecosystem[24]. - The company has significantly increased its investment in research and development, actively building a cloud platform ecosystem, and has completed the digital upgrade of its products[37]. - Research and development investment rose by 46.30% to ¥15,763,458.98 from ¥10,774,687.08, reflecting the company's commitment to increasing R&D efforts[50]. Product Development - The company’s product categories include power electrical appliances, distribution electrical appliances, complete equipment, and transformer equipment[24]. - The company is expanding its product line to include new energy charging equipment, focusing on the growing demand in the electric vehicle sector[30]. - The company’s PC-level dual power automatic transfer switches are designed for high reliability applications, such as medical and data center environments[25]. - The company’s TBBQ7 series smart cloud dual power transfer switch supports multiple communication methods, including GPRS and Wi-Fi, for real-time monitoring and fault warning[25]. - The company has developed a new generation of DC circuit breakers with a voltage range of DC125V to DC1000V, capable of handling a breaking capacity of up to 10kA, widely used in renewable energy and data center applications[29]. Market Strategy - The company emphasizes digital transformation and is seizing market opportunities in 5G infrastructure, big data centers, and new energy charging equipment[24]. - The company has expanded its sales model to include direct sales and distribution, targeting high-value customers with strong service capabilities[35]. - The company aims to establish a leading domestic brand in the medium and low voltage electrical industry[24]. - The company is committed to expanding its market presence through strategic acquisitions and partnerships in 2020[118]. Financial Management - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has not engaged in any securities or derivative investments during the reporting period[60][61]. - The company has not reported any significant non-equity investments during the reporting period[60]. - The company has a remaining balance of RMB 56,398,532.63 in the raised funds account as of June 30, 2020[62]. - The company plans to manage up to RMB 120 million of idle raised funds for cash management, with RMB 53 million currently in use[66]. Risks and Challenges - The company has detailed potential risks in the report, which can be found in the section discussing operational conditions and risk management[5]. - The company faces risks from intense market competition, particularly in the low-voltage electrical market, which is becoming increasingly diversified and complex[78]. Legal and Compliance - The company has no significant litigation or arbitration matters during the reporting period[89]. - The company is involved in a lawsuit against Guizhou Shengshi Guotai Electronic Technology Co., Ltd. for unpaid goods amounting to 752,000 RMB[89]. - The company has received an administrative penalty of 50,000 RMB for failing to maintain fire safety equipment and obstructing evacuation routes[92]. - The company has completed all required rectifications following the penalties imposed, with no significant adverse impact on operations[92]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 19,325[131]. - The chairman and general manager, Huang Zhengqian, increased his holdings by 27,622,531 shares, bringing his total to 119,697,686 shares[142]. - The total number of shares increased from 170,716,000 to 223,689,700, representing a growth of approximately 31%[123]. Corporate Governance - The company has implemented a stock option and restricted stock incentive plan, with 263,000 stock options and 1,353,000 restricted shares granted to employees[96]. - The company's registered capital increased from 170,716,000 RMB to 172,069,000 RMB following the stock incentive plan[97]. - There are no significant related party transactions during the reporting period[98].

Financial Performance - The company's operating revenue for Q1 2020 was ¥102,715,615.15, representing a 50.44% increase compared to ¥68,278,185.20 in the same period last year[8] - The net profit attributable to shareholders decreased by 22.18% to ¥8,654,065.73 from ¥11,121,242.18 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥7,810,914.10, down 10.09% from ¥8,687,099.44 in the previous year[8] - Basic earnings per share decreased by 22.27% to ¥0.0506 from ¥0.0651 year-on-year[8] - The total operating revenue for the first quarter of 2020 was CNY 102,715,615.15, compared to CNY 68,278,185.20 in the same period last year, indicating a significant increase[39] - Net profit for Q1 2020 was CNY 9,740,407.88, compared to CNY 11,121,242.18 in the same period last year, indicating a decline of about 12.4%[41] - The total comprehensive income for Q1 2020 was CNY 9,740,407.88, down from CNY 11,121,242.18 in the same period last year[42] - Total profit for Q1 2020 was CNY 11,228,529.42, compared to CNY 13,067,976.64 in the previous year, a decrease of about 14.1%[41] Cash Flow - The net cash flow from operating activities was negative at -¥27,571,324.64, a decline of 78.45% compared to -¥15,450,714.92 in the same period last year[8] - Cash inflow from operating activities was CNY 83,950,713.12, significantly higher than CNY 52,797,285.40 in the previous period, showing an increase of approximately 59%[48] - The net cash flow from operating activities was -27,571,324.64 CNY, compared to -15,450,714.92 CNY in the previous period, indicating a decline in operational cash generation[49] - The total cash outflow from operating activities was 36,661,629.60 CNY, slightly higher than 35,049,932.55 CNY in the previous period, indicating stable operational expenses[52] - The net cash flow from investing activities was 45,471,488.00 CNY, a decrease from 114,425,476.91 CNY in the previous period, suggesting reduced investment activity[49] - The net cash flow from financing activities was 12,690,370.00 CNY, reflecting a positive financing environment for the company[50] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,119,318,541.91, a slight increase of 0.38% from ¥1,115,030,483.79 at the end of the previous year[8] - The total liabilities decreased to CNY 252,097,164.62 from CNY 272,672,420.31, reflecting a reduction in financial obligations[33] - The company's cash and cash equivalents increased to CNY 208,795,727.41 from CNY 87,024,031.58, showing improved liquidity[34] - The total equity attributable to shareholders rose to CNY 817,700,180.34 from CNY 793,923,208.68, indicating growth in shareholder value[34] - The company reported a total current asset of CNY 430,961,124.82, with cash and cash equivalents at CNY 87,024,031.58 and accounts receivable at CNY 156,710,460.05[59] - Non-current assets totaled CNY 340,587,634.31, including long-term equity investments of CNY 230,654,052.66 and fixed assets of CNY 86,214,270.28[60] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 20,448[11] - The largest shareholder, Shenzhen Taiyong Technology Co., Ltd., holds 54.24% of the shares, totaling 93,329,600 shares[11] - The company’s total equity attributable to shareholders was CNY 677,165,915.67, with retained earnings of CNY 121,025,418.76[60] Operational Changes - The company reported non-recurring gains of ¥843,151.63 during the reporting period[9] - The company plans to issue convertible bonds with a total amount not exceeding CNY 31,700.00 million, which has been approved by the shareholders' meeting[18] - The company acquired a 20% stake in Shenzhen Aerospace Tai Rui Jie Electronics Co., Ltd. for CNY 14,580,000, with the transaction completed and payment made[17] - The company adopted the new revenue recognition standards starting January 1, 2020, impacting the financial reporting[58] - The first quarter report for 2020 was not audited, indicating preliminary financial data[62] - The company held a board meeting on April 8, 2020, to approve changes in accounting policies[61] Cost Management - Operating costs increased by 86.76% to CNY 59,433,141.99 from CNY 31,823,241.27, also driven by the merger with Chongqing Yuantong[15] - The company reported a decrease in employee compensation payable to CNY 9,573,337.64 from CNY 15,603,934.91, reflecting cost management efforts[33] - Research and development expenses increased to CNY 6,577,024.61 in Q1 2020, up from CNY 4,768,338.21, representing a growth of approximately 38%[40] Receivables and Inventory - Accounts receivable increased to CNY 170,090,214.37 from CNY 156,710,460.05, suggesting higher sales on credit[34] - The inventory level was CNY 88,148,835.91, up from CNY 83,293,873.10, which may indicate increased production or stockpiling[34] - Other receivables rose by 38.00% to CNY 25,428,873.70 from CNY 18,426,717.17, primarily due to an increase in bid guarantees[15] Deferred Expenses - The company’s long-term deferred expenses increased by 33.51% to CNY 2,724,137.81 from CNY 2,040,430.79, indicating an increase in deferred costs[15] - The total deferred tax liabilities were reported at CNY 3,667,647.37[57]