[Important Notice](index=2&type=section&id=Item%201.%20Important%20Notice) [Statement on Report Authenticity](index=2&type=section&id=Item%201.1.%20Statement%20on%20Report%20Authenticity) The company's board, supervisory board, and senior management ensure the quarterly report's truthfulness, accuracy, and completeness, assuming legal responsibility, with all directors attending the review meeting - The company's board, supervisory board, directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report and assume corresponding legal responsibility[4](index=4&type=chunk) - All directors attended the board meeting to review this quarterly report[5](index=5&type=chunk) - The company's head, chief accountant, and head of accounting department jointly declare that the financial statements in the quarterly report are true, accurate, and complete[5](index=5&type=chunk) [Company Overview](index=3&type=section&id=Item%202.%20Company%20Overview) [Key Accounting Data and Financial Indicators](index=3&type=section&id=Item%202.1.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In Q1 2021, the company achieved significant performance growth with operating revenue surging 365.46% YoY and net profit attributable to shareholders turning profitable, despite increased operating cash outflow Key Financial Performance (Yuan) | Indicator | Current Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 136,648,510.24 | 29,357,596.82 | 365.46% | | Net Profit Attributable to Shareholders (Yuan) | 26,812,540.77 | -13,323,873.62 | 301.24% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Gains/Losses) (Yuan) | 23,615,235.29 | -13,222,422.92 | 278.60% | | Net Cash Flow from Operating Activities (Yuan) | -87,263,645.97 | -54,854,275.67 | 59.08% | | Basic Earnings Per Share (Yuan/Share) | 0.2529 | -0.1676 | 250.89% | | Total Assets (Yuan) | 1,812,009,492.98 | 1,874,970,676.45 | -3.36% (vs. end of prior year) | | Net Assets Attributable to Shareholders (Yuan) | 1,400,760,628.35 | 1,373,948,087.57 | 1.95% (vs. end of prior year) | Non-recurring Gains and Losses (Yuan) | Item | Amount from Year-Beginning to Period-End (Yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | -1,403.26 | | Government Grants Included in Current Profit/Loss | 3,063,160.43 | | Fair Value Change Gains/Losses and Investment Income from Transactional Financial Assets | 670,569.86 | | Other Non-recurring Gains/Losses | 25,705.30 | | Less: Income Tax Impact | 560,654.85 | | Less: Impact on Minority Interests (After Tax) | 72.00 | | **Total** | **3,197,305.48** | - The company classified VAT refunds of **2.63 million Yuan** as recurring income, as this subsidy is closely related to normal business operations and is sustainable[10](index=10&type=chunk) [Shareholder Information](index=4&type=section&id=Item%202.2.%20Shareholder%20Information) As of the reporting period end, the company had 15,549 common shareholders, with a highly concentrated equity structure where the top three shareholders, including a concerted action party, held 65.43% - As of the end of the reporting period, the company had **15,549** common shareholders[12](index=12&type=chunk) Top Ten Shareholders | Shareholder Name | Shareholding Percentage | Number of Shares Held (Shares) | Nature | | :--- | :--- | :--- | :--- | | Qian Rui | 29.27% | 31,025,000 | Domestic Natural Person | | Jiang Yuandong | 25.83% | 27,375,000 | Domestic Natural Person | | Zhang Aijun | 10.33% | 10,950,000 | Domestic Natural Person | | Cao Wei | 3.44% | 3,650,000 | Domestic Natural Person | | Tianjin Jingyeda Ruiying Technology Consulting Center (Limited Partnership) | 3.25% | 3,443,000 | Domestic Non-state-owned Legal Person | - Company Chairman Qian Rui and Director/Deputy General Manager Jiang Yuandong are a married couple, constituting an associated relationship or concerted action party[13](index=13&type=chunk) - Several unrestricted shareholders hold company shares through margin financing and securities lending, such as Liu Chenyujian and Yan Ruhai[13](index=13&type=chunk) [Significant Events](index=6&type=section&id=Item%203.%20Significant%20Events) [Analysis of Major Financial Data Changes](index=6&type=section&id=Item%203.1.%20Analysis%20of%20Major%20Financial%20Data%20Changes) During this period, the company's financial position significantly changed, marked by a sharp decrease in monetary funds and surge in transactional financial assets due to wealth management product purchases, alongside substantial revenue growth and increased cash outflows from operations and investments - Monetary funds decreased by **65.50%**, and transactional financial assets increased by **348.00%**, primarily due to the company's use of idle funds for cash management by purchasing wealth management products during this period[16](index=16&type=chunk) - Operating revenue increased by **365.46%** YoY, mainly due to increased revenue from smart rail business, with operating costs also increasing by **347.09%**[16](index=16&type=chunk) - Sales expenses and R&D expenses increased by **38.43%** and **38.77%** respectively, reflecting the company's increased investment in marketing and R&D[16](index=16&type=chunk) - "Cash paid for other investing activities" in investing cash outflow surged by **613.33%** YoY, mainly due to a significant increase in the amount of wealth management products purchased during this period[17](index=17&type=chunk) [Progress of Raised Funds Utilization](index=8&type=section&id=Item%203.2.%20Progress%20of%20Raised%20Funds%20Utilization) The company raised 768 million yuan net from its September 2020 IPO, cumulatively using 189 million yuan by March 31, 2021, primarily for R&D and industrialization projects, with 581 million yuan remaining for cash management or in special accounts - The company's net proceeds from its initial public offering were **767.94 million Yuan**[22](index=22&type=chunk) - As of March 31, 2021, the company had cumulatively used **188.91 million Yuan** of raised funds, with an additional **23.54 million Yuan** used during the reporting period[25](index=25&type=chunk) - As of March 31, 2021, the balance in the special raised funds account was **580.74 million Yuan**, with some unused funds being used for cash management[25](index=25&type=chunk) [Entrusted Wealth Management](index=9&type=section&id=Item%203.3.%20Entrusted%20Wealth%20Management) During the period, the company actively engaged in entrusted wealth management, investing 858 million yuan from both own and raised funds, with an 823 million yuan unexpired balance in bank products and no overdue amounts Entrusted Wealth Management Overview (10,000 Yuan) | Fund Source | Entrusted Wealth Management Amount (10,000 Yuan) | Unexpired Balance (10,000 Yuan) | Overdue Unrecovered Amount (10,000 Yuan) | | :--- | :--- | :--- | :--- | | Own Funds | 30,000 | 27,000 | 0 | | Raised Funds | 55,800 | 55,300 | 0 | | **Total** | **85,800** | **82,300** | **0** | [Financial Statements](index=11&type=section&id=Item%204.%20Financial%20Statements) [Consolidated Balance Sheet](index=11&type=section&id=Item%204.1.%20Consolidated%20Balance%20Sheet) As of March 31, 2021, total assets decreased by 3.36% to 1.812 billion yuan, total liabilities decreased by 17.95% to 410 million yuan, and equity attributable to parent company owners increased by 1.95% to 1.401 billion yuan, reflecting a shift from monetary funds to transactional financial assets Consolidated Balance Sheet Highlights (Yuan) | Major Item | March 31, 2021 (Yuan) | December 31, 2020 (Yuan) | Change | | :--- | :--- | :--- | :--- | | Monetary Funds | 320,616,128.19 | 929,289,192.95 | -65.50% | | Transactional Financial Assets | 672,000,000.00 | 150,000,000.00 | +348.00% | | **Total Assets** | **1,812,009,492.98** | **1,874,970,676.45** | **-3.36%** | | **Total Liabilities** | **409,868,744.36** | **499,515,721.82** | **-17.95%** | | Total Equity Attributable to Parent Company Owners | 1,400,760,628.35 | 1,373,948,087.57 | +1.95% | [Consolidated Income Statement](index=16&type=section&id=Item%204.2.%20Consolidated%20Income%20Statement) In Q1 2021, the company achieved total operating revenue of 137 million yuan, a 365.46% increase YoY, successfully turning a net profit of 26.81 million yuan from a prior-year loss, with basic earnings per share of 0.2529 yuan Consolidated Income Statement Highlights (Yuan) | Major Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | Change | | :--- | :--- | :--- | :--- | | I. Total Operating Revenue | 136,648,510.24 | 29,357,596.82 | +365.46% | | II. Total Operating Costs | 110,221,601.85 | 42,305,477.04 | +160.54% | | Including: Operating Costs | 76,985,252.52 | 17,219,200.44 | +347.09% | | R&D Expenses | 11,290,456.14 | 8,136,039.41 | +38.77% | | III. Operating Profit | 27,777,377.68 | -12,589,045.14 | Turned Profitable | | IV. Total Profit | 30,867,243.41 | -13,472,264.34 | Turned Profitable | | Net Profit Attributable to Parent Company Shareholders | 26,812,540.77 | -13,323,873.62 | +301.24% | | Basic Earnings Per Share | 0.2529 | -0.1676 | +250.89% | [Consolidated Cash Flow Statement](index=21&type=section&id=Item%204.3.%20Consolidated%20Cash%20Flow%20Statement) In Q1 2021, operating cash outflow expanded to -87.26 million yuan, investing cash outflow was -533 million yuan primarily due to wealth management product purchases, resulting in a 620 million yuan decrease in cash and cash equivalents to 264 million yuan Consolidated Cash Flow Statement Highlights (Yuan) | Major Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -87,263,645.97 | -54,854,275.67 | | Net Cash Flow from Investing Activities | -532,836,019.62 | -25,474,801.05 | | Net Cash Flow from Financing Activities | -174,241.67 | -10,671,143.06 | | Net Increase/Decrease in Cash and Cash Equivalents | -620,273,907.26 | -91,000,219.78 | | Cash and Cash Equivalents at Period End | 264,446,106.92 | 60,429,648.32 | [Audit Status](index=25&type=section&id=Item%204.4.%20Audit%20Status) The company's Q1 2021 report is unaudited - The company's first quarter report is unaudited[57](index=57&type=chunk)

Financial Performance - The company's operating revenue for 2020 was ¥600,682,252.57, a decrease of 11.27% compared to 2019[18]. - The net profit attributable to shareholders for 2020 was ¥147,911,853.61, down 0.84% from the previous year[18]. - The net profit after deducting non-recurring gains and losses was ¥139,986,698.61, a decrease of 4.60% year-on-year[18]. - The net cash flow from operating activities was ¥72,283,635.40, representing a decline of 30.71% compared to 2019[18]. - The basic earnings per share for 2020 was ¥1.7174, down 8.46% from the previous year[18]. - The total assets at the end of 2020 were ¥1,874,970,676.45, an increase of 106.34% compared to the end of 2019[18]. - The net assets attributable to shareholders increased by 199.92% to ¥1,373,948,087.57 by the end of 2020[19]. - Total revenue for 2020 was ¥600,682,252.57, a decrease of 11.27% compared to ¥676,958,770.94 in 2019[92]. - The smart education business generated revenue of 389.42 million, an increase of 13.10% year-on-year[76]. - The smart rail business generated revenue of 184.64 million yuan, a year-on-year decline of 44.10% due to project delays caused by the pandemic[82]. - The company achieved operating revenue of 600.68 million, a decrease of 11.27% compared to the previous year[75]. - The company’s cash and cash equivalents increased by 431.20%, primarily due to funds raised from the IPO[69]. - Fixed assets grew by 1499.97% due to the completion of the smart education operation center[69]. - The company’s capital reserve increased by 1781.91%, mainly from the premium on shares raised during the IPO[69]. - The company reported a total operating income of ¥29,357,596 in Q1 2020, down from ¥40,505,460 in Q1 2019[93]. - The gross margin for the Smart Education segment improved to 55.80%, up by 3.66% year-on-year[96]. - The total operating cost decreased by 18.75% to ¥290,441,630.55 in 2020, compared to ¥346,975,053.70 in 2019[101]. - The company’s top five customers accounted for 24.52% of total annual sales, with the largest customer contributing 6.59%[103]. - The company’s operating income for Q4 2020 was ¥108,996,800, a decrease from ¥273,760,400 in Q4 2019[93]. Dividend Policy - The company plans to distribute a cash dividend of 3.50 CNY per 10 shares to all shareholders, based on a total of 106,000,000 shares[5]. - The company reported a cash dividend of 3.50 yuan per 10 shares, totaling 37,100,000 yuan, which represents 25.08% of the net profit attributable to ordinary shareholders[166]. - The company has not distributed cash dividends in 2019 and 2018, indicating a shift in its dividend policy for 2020[163]. - The company’s profit distribution plan for 2020 is subject to approval by the shareholders' meeting[167]. - The company has a clear cash dividend policy that aligns with regulatory requirements and aims to protect minority shareholders' rights[162]. Business Operations and Market Presence - The company reported no changes in its main business operations since its listing[17]. - The company has been actively developing smart education solutions and has launched a series of products in the smart education sector[27]. - The company is exploring new scenarios and market applications in the integrated sensor and IoT fields[27]. - The company has established a strong presence in the smart examination market, having implemented solutions in multiple standardized examination points in Beijing[29]. - The company has participated in the construction of national education examination management platforms in 10 regions, covering over half of the cities nationwide, and serves millions of exam workers, students, and parents annually[30]. - The company has established a comprehensive information system for teaching and examination in nearly 400,000 classrooms across the country, enhancing its market presence in the education sector[31]. - The company has developed a full digital, multi-level networked video surveillance system for urban rail transit, successfully applying its security platform in the Urumqi Metro Line 1, becoming a leading enterprise in urban rail transit security[32]. - The company has launched smart city solutions based on integrated sensor technology, successfully implementing a pilot project for urban safety operations in Haidian District, Beijing[34]. - The company has developed core technologies in audio-visual processing and transmission, supporting the stable transmission of tens of thousands of audio-visual streams in complex network environments[36]. - The company has created a cloud-based comprehensive business platform that integrates advanced technologies such as AI and big data, enhancing operational efficiency and reducing costs[38]. - The company has accumulated extensive experience in smart hardware design, ensuring its products maintain industry-leading levels in accuracy, stability, and reliability[39]. - The company has developed a series of AI core technologies for personalized education and smart examination, achieving high accuracy in behavior recognition under various extreme conditions[40]. - The company has accumulated a large amount of business data in smart education, smart examination, and smart rail transit, leveraging this data for enhanced service offerings[40]. - The company has established several subsidiaries and invested in various projects, including the Beijing urban sub-center smart green heart project, enhancing its market presence[86]. - The company has a significant market share in the new round of national education examination comprehensive management platform construction, participating in 10 major cities[79]. - The company is positioned to capitalize on the upcoming educational reforms and the growing demand for smart education solutions, enhancing its market share[138]. - The company has undertaken over 20 urban subway lines' comprehensive security systems, establishing itself as a leading enterprise in urban rail transit security[142]. - The company has developed a comprehensive business platform for smart rail, integrating AI and sensor technologies, enhancing its competitive edge in the market[144]. Research and Development - The company increased R&D investment to 41.49 million yuan, a 3.30% increase year-on-year, with R&D personnel growing by 8.80%[84]. - The company is focusing on AI and big data technologies to enhance product development and innovation[108]. - The new generation classroom management system has been developed to address attendance management issues in flexible class schedules[108]. - The company has completed the development of two series of interactive teaching gateway products, with prototypes ready for mass production[109]. - The identity authentication platform has been upgraded to version 2.0, improving data collection and security strategies[109]. - The company aims to enhance its product line in the education sector through strategic partnerships and technology advancements[109]. - The interactive teaching gateway series supports various teaching modes, meeting the demands of smart classroom construction[109]. - The company is committed to expanding its market presence and enhancing its competitive edge through continuous R&D efforts[108]. - The company has completed the development of the intelligent analysis system for examination videos, achieving a recall rate and video compression ratio that meet practical application needs[111]. - The new generation of cheating prevention management platform has been developed, capable of multi-level interconnectivity across provincial, municipal, and county levels, enhancing the company's standardized product solutions[112]. - The online inspection system has undergone a security upgrade, improving the security level of core devices and integrating intelligent algorithms for enhanced operational efficiency[111]. - The company is expanding its product offerings in the IoT hardware category, with the V2.3 version of the manhole cover status monitoring device successfully applied in the Haidian City Brain project[112]. - The intelligent monitoring and early warning platform has been developed to ensure urban safety operations through real-time data collection and monitoring[112]. - The integration of AI in the national education examination management platform is driving significant business growth for the company[110]. - The company is positioned to capture more market share and revenue through deep data integration with the comprehensive platform[112]. - The intelligent video analysis system is expected to address industry pain points, further solidifying the company's leading position in the examination industry[111]. - The company increased its R&D personnel to 136, representing 22.78% of the total workforce, up from 125 and 20.90% in the previous year, indicating an 8.80% growth in R&D staff[117]. - R&D investment amounted to ¥41,493,777.76, a 3.30% increase from ¥40,167,882.39 in 2019, with R&D expenditure accounting for 6.91% of total revenue, up from 5.93%[117]. Market Trends and Opportunities - In 2020, the total education expenditure in China reached CNY 530.14 billion, an increase of 5.65% compared to the previous year[52]. - The estimated education informationization expenditure in 2020 was CNY 42.41 billion, accounting for at least 8% of the total education expenditure[53]. - The construction of smart classrooms is driven by the "new infrastructure" initiative, highlighting the importance of educational environments and platforms for high-quality talent cultivation, leading to a significant market opportunity[54]. - The Ministry of Education has established standards for evaluating teaching environments, emphasizing the need for smart classroom construction to meet the demands of internet-based education by 2025[55]. - The integration of AI and big data into education is accelerating, with a surge in demand for platforms that support hybrid teaching and real-time data analysis for personalized learning[56]. - The national education examination management platform is being developed to enhance exam governance, with a planned investment of 29,781.91 billion yuan for new standardized examination sites[58]. - The reform of the enrollment system is expected to increase demand for new educational products, including career planning and management systems, as schools adapt to the new "walking class" model[59]. - Urban rail transit construction is experiencing rapid growth, with 7,978.19 kilometers of operational lines and an expected addition of over 1,600 kilometers in 2021[60]. - The demand for security monitoring systems in urban rail transit is increasing, driven by government policies aimed at enhancing public safety in key transport areas[62]. - The push for intelligent and autonomous systems in urban rail transit is being supported by national initiatives to integrate new technologies such as AI and big data[63]. - The smart city market in China is projected to reach 25 trillion yuan by 2022, with a growth rate exceeding 30% annually, driven by the integration of IoT technologies[64]. - The smart examination market is anticipated to grow due to the increasing number of students and the integration of practical skills assessments into academic evaluations[141]. Corporate Governance and Compliance - The company has maintained a commitment to ensuring the accuracy and completeness of its financial reports, as stated by its management team[4]. - The company has committed to ensuring the health of employees while maintaining normal operations during the pandemic[157]. - The company has made a commitment to ensure that any violations of share transfer commitments will result in the suspension of cash dividends until compliance is achieved[171]. - The company plans to adhere to the regulations set by the China Securities Regulatory Commission regarding shareholder reductions, including a 3-day notice period for any planned reductions[170]. - The company has committed to compensating investors for any losses caused by misleading statements or omissions in the public offering documents[170]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[178]. - There were no significant accounting policy changes or estimates during the reporting period[173]. - The company has not experienced any major accounting errors requiring restatement during the reporting period[174]. - The company has not conducted any related party transactions during the reporting period[182]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period[180]. - The company does not belong to any key pollutant discharge units as per environmental protection department announcements[199]. - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[183]. - The company has maintained a stable relationship with suppliers based on honest and mutually beneficial trading principles[197]. Strategic Initiatives - The company aims to integrate artificial intelligence into its main business areas, collaborating with award-winning teams to enhance its smart education and smart rail applications[87]. - The company is actively developing new products and technologies to meet market demands, including a smart analysis platform and various intelligent hardware[84]. - The company plans to expand its market through strategic partnerships and enhanced marketing channels to mitigate customer concentration risks[154]. - The company is diversifying its business to mitigate risks associated with high dependency on the education and urban rail transit sectors[153]. - The company has a strategic plan for the next five years, emphasizing the development of key technologies and core competencies to support its growth[144].

Financial Performance - Operating revenue for the current period reached CNY 198,077,615.59, a significant increase of 621.00% year-on-year[8] - Net profit attributable to shareholders for the current period was CNY 56,871,170.04, up 484.55% year-on-year[8] - Basic earnings per share for the current period was CNY 0.7154, reflecting an increase of 484.62% year-on-year[8] - The weighted average return on equity was 10.02%, an increase of 373.77% compared to the previous year[8] - The total operating revenue for the third quarter reached ¥198,077,615.59, a significant increase from ¥27,472,725.90 in the previous period[38] - The company reported a net profit of ¥456,642,377.16, compared to ¥317,299,598.96 in the previous period, reflecting a strong performance[33] - The total operating revenue for the year-to-date was CNY 491,685,407.56, an increase from CNY 403,198,281.75 in the previous year[47] - Net profit attributable to the parent company was CNY 137,816,491.55, representing a growth of 57.7% from CNY 87,328,171.41 year-over-year[49] - The total profit for the quarter was CNY 159,350,767.14, which is a 52.9% increase compared to CNY 104,281,556.94 in the same quarter last year[48] Assets and Liabilities - Total assets increased by 99.03% to CNY 1,808,547,272.25 compared to the end of the previous year[8] - The company's total equity rose to ¥1,366,536,115.83, up from ¥459,462,841.40 year-over-year[33] - Total liabilities decreased slightly to ¥442,011,156.42 from ¥449,232,267.32 in the previous year[32] - The total non-current assets reached ¥223,674,268.15, compared to ¥217,100,940.71 in the previous year[31] - The total amount of accounts payable was CNY 196,940,285.20, indicating a significant liability to suppliers[66] Cash Flow - The net cash flow from operating activities was negative at CNY -51,922,625.02, a decline of 3,678.66% year-on-year[8] - The company reported a net cash inflow from operating activities of CNY 415,530,413.81, compared to CNY 448,895,881.72 in the same period last year[55] - The total cash inflow from investment activities was 404,882,315.07 CNY, compared to 321,683,356.14 CNY in the previous period, resulting in a net cash flow of 23,399,932.76 CNY[57] - The net cash flow from financing activities was 758,679,959.14 CNY, significantly higher than -1,187,501.80 CNY in the previous period[58] - The total cash and cash equivalents at the end of the period reached 896,388,803.35 CNY, up from 68,729,459.21 CNY in the previous period[58] Shareholder Information - The total number of shareholders at the end of the reporting period was 28,454[12] - The top shareholder, Qian Rui, holds 29.27% of the shares, totaling 31,025,000 shares[12] Investments and Capitalization - The company issued 26.5 million shares at a price of ¥31.83 per share, raising a total of ¥843,495,000.00, with a net amount of ¥767,938,484.55 after deducting issuance costs[21] - The company's fixed assets increased by 1492.64% to ¥93,195,368.38, mainly due to the capitalization of construction projects[16] - The company received government subsidies amounting to CNY 5,068,024.07 during the reporting period[9] Research and Development - Research and development expenses for the third quarter amounted to CNY 10,625,386.94, an increase from CNY 8,083,244.57 in the previous period[39] - Research and development expenses increased to CNY 27,687,293.18, up 17.9% from CNY 23,567,520.07 in the previous year[48] Other Financial Metrics - The company experienced a 424.87% increase in credit impairment losses, amounting to -¥12,486,471.19, due to a rise in accounts receivable[17] - The company reported a tax expense of CNY 8,244,008.52 for the third quarter, up from CNY 1,107,065.50 in the previous period[40] - The company executed a new revenue recognition standard starting January 1, 2020, which resulted in a reclassification of CNY 67,786,075.23 from advance receipts to contract liabilities[68] - Contract liabilities increased to CNY 59,987,677.19 following the implementation of the new revenue recognition standard[68]

Financial Performance - Operating revenue for the period reached CNY 198,077,615.59, a significant increase of 621.00% year-on-year[8] - Net profit attributable to shareholders was CNY 56,871,170.04, reflecting a growth of 484.55% compared to the same period last year[8] - Basic earnings per share rose to CNY 0.5348, an increase of 379.41% year-on-year[8] - Total operating revenue for Q3 2020 reached ¥198,077,615.59, a significant increase from ¥27,472,725.90 in the previous period[38] - Operating profit for the quarter was CNY 64,541,817.20, a significant improvement from a loss of CNY 14,339,879.93 in the same period last year[40] - Net profit for the third quarter was CNY 56,686,130.83, compared to a net loss of CNY 15,217,716.19 in the previous year[40] - The company reported a total profit of CNY 64,930,139.35 for the quarter, compared to a loss of CNY 14,110,650.69 in the same period last year[40] - The total comprehensive income for the quarter was CNY 56,686,130.83, compared to a loss of CNY 15,217,716.19 in the previous year[41] - The company’s total operating revenue for the year-to-date reached CNY 491,685,407.56, up from CNY 403,198,281.75 in the previous year[47] - The net profit for Q3 2020 was CNY 137,608,503.23, representing a 59.2% increase compared to CNY 86,429,612.24 in Q3 2019[49] Assets and Liabilities - Total assets increased by 99.03% to CNY 1,808,547,272.25 compared to the end of the previous year[8] - Total liabilities decreased slightly to ¥442,011,156.42 from ¥449,232,267.32[32] - The total assets of the company reached CNY 800,064,833.63, with current assets at CNY 500,044,942.74 and non-current assets at CNY 300,019,890.89[71] - The company's equity totaled CNY 459,462,841.40, with CNY 317,299,598.96 in undistributed profits[67] - The company reported accounts receivable of CNY 226,695,879.49 and inventory of CNY 122,785,564.69[70] Cash Flow - The net cash flow from operating activities was negative at CNY -51,922,625.02, a decline of 3,678.66% compared to the previous year[8] - The cash flow from operating activities was CNY 415,530,413.81, compared to CNY 448,895,881.72 in the previous year, showing a slight decline[55] - The net cash flow from operating activities was -37,120,956.65 CNY, a decrease compared to 17,311,635.88 CNY in the previous period[57] - The total cash inflow from investment activities was 404,882,315.07 CNY, while cash outflow was 381,482,382.31 CNY, resulting in a net cash flow of 23,399,932.76 CNY[57] - The company raised 785,167,825.00 CNY from financing activities, significantly higher than 10,592,384.85 CNY in the previous period[58] - The total cash and cash equivalents at the end of the period reached 896,388,803.35 CNY, up from 68,729,459.21 CNY in the previous period[58] Shareholder Information - The total number of shareholders at the end of the reporting period was 28,454[12] - The top shareholder, Qian Rui, holds 29.27% of the shares, amounting to 31,025,000 shares[12] - The company did not engage in any repurchase transactions during the reporting period[13] Investments and Expenses - Research and development expenses for the quarter were CNY 10,625,386.94, an increase from CNY 8,083,244.57 in the previous year[39] - Research and development expenses increased to CNY 27,687,293.18, a rise of 17.9% from CNY 23,567,520.07 in the previous year[48] - The company reported a decrease in financial expenses, with a net financial income of CNY -2,094,554.84 compared to CNY -1,672,671.80 in the previous year[48] Accounting Changes - The company executed a new revenue recognition standard starting January 1, 2020, which affected the reporting of contract liabilities and tax payables[68] - The company had a contract liability of CNY 59,987,677.19 and tax payable of CNY 7,798,398.04 as of January 1, 2020, due to the new revenue recognition standard[68] - The company’s total liabilities increased by CNY 6,948,667.26 in tax payables compared to previous reporting periods[71] - The company reported a decrease in prepayments by CNY 67,786,075.23 due to the new accounting standards[68]