Financial Performance - The company's operating revenue for 2021 was CNY 1,362,366,523.44, representing a 39.38% increase compared to CNY 977,454,462.97 in 2020[17] - The net profit attributable to shareholders for 2021 was CNY 78,761,874.93, a decrease of 27.62% from CNY 108,810,948.59 in 2020[17] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 70,576,696.07, down 31.15% from CNY 102,505,568.97 in 2020[17] - The net cash flow from operating activities for 2021 was CNY 17,387,318.29, a significant decline of 83.18% compared to CNY 103,376,030.12 in 2020[17] - Basic earnings per share for 2021 were CNY 0.98, a decrease of 44.94% from CNY 1.78 in 2020[17] - The weighted average return on net assets for 2021 was 8.70%, down 16.33% from 25.03% in 2020[17] - Total assets increased by 92.77% to CNY 1,383,214,348 compared to the previous year[18] - The company reported a net cash flow from operating activities of CNY 107,792,403.66 in Q4 2021, reversing negative cash flows in previous quarters[21] - The company achieved operating revenue of 1,362.37 million yuan in 2021, a year-on-year increase of 39.38%[37] - The net profit for 2021 was 78.76 million yuan, a year-on-year decrease of 27.62%[37] - The total assets increased to 1,383.21 million yuan, up 92.77% year-on-year, while net assets rose to 945.22 million yuan, an increase of 93.31%[37] Research and Development - The company invested 54.60 million yuan in R&D, accounting for 4% of operating revenue, and obtained 27 new patents during the reporting period[38] - As of December 31, 2021, the company held a total of 180 patents, including 26 invention patents[38] - Research and development expenses increased by 25.42% to ¥54,605,556.09, reflecting the company's commitment to enhancing R&D investment[52] - The number of R&D personnel rose by 21.15% to 252 in 2021 from 208 in 2020, with a slight decrease in the proportion of R&D personnel to total staff from 13.46% to 13.13%[54] - The company has completed the automated mass production of several R&D projects, including rubber glove production lines and high-wear chains for agricultural machinery[54] - The company aims to replace imported products and expand its market presence through new product developments and technological advancements[54] Market and Sales - The vehicle chain system generated ¥734,849,723.37, accounting for 53.94% of total revenue, with a year-on-year growth of 33.17%[43] - Domestic revenue was ¥766,141,093.10, representing 56.24% of total revenue, up 41.16% from the previous year[43] - The company expanded its overseas market presence, achieving steady growth in overseas sales and increasing market share[37] - The company has established a distribution network in over 60 countries and regions, including Asia, Latin America, and Africa[34] - The company plans to leverage opportunities in the vehicle, agricultural machinery, and industrial automation sectors, with a focus on smart manufacturing and modern logistics[76] - The domestic motorcycle market for models above 250cc has shown significant growth, increasing from 7,210 units in 2011 to 333,000 units in 2021[76] Corporate Governance - The company has established a governance structure in compliance with relevant laws and regulations, ensuring accurate and timely information disclosure to protect shareholder interests[92] - The board of directors consists of 7 members, including 3 independent directors, and has established various committees to enhance corporate governance[93] - The company maintains complete operational independence from its controlling shareholders in terms of business, personnel, assets, and finance, ensuring no unfair competition or related party transactions[96][98][99][100][101][102] - The annual shareholders' meeting had a participation rate of 74.99% on May 21, 2021, demonstrating strong shareholder engagement[103] - The company has a total of 6 independent directors, ensuring a diverse governance structure[110] - The company has maintained a stable management team with no significant changes in the board of directors during the reporting period[106] Cash Flow and Investments - Operating cash inflow increased by 26.37% to ¥1,149,396,085.40 in 2021, while cash outflow rose by 40.42% to ¥1,132,008,767.11, resulting in a net cash flow of ¥17,387,318.29, down 83.18% year-on-year[56] - Investment cash inflow surged by 1,770.47% to ¥64,006,916.88, while outflow increased by 152.54% to ¥211,732,234.73, leading to a net cash flow of -¥147,725,317.85, a decrease of 83.69%[56] - Financing cash inflow skyrocketed by 3,338.44% to ¥515,765,802.93, with outflow rising by 42.27% to ¥88,746,952.74, resulting in a net cash flow of ¥427,018,850.19, an increase of 1,001.27%[56] - The company's cash and cash equivalents increased by 1,188.88% to ¥291,576,587.37, compared to a decrease of ¥26,777,728.52 in the previous year[56] Shareholder Returns - The company plans to distribute a cash dividend of CNY 4.00 per 10 shares, based on a total of 81,750,000 shares[5] - The company reported a distributable profit of RMB 389,641,980.55, with the cash dividend accounting for 100% of the profit distribution total[134] - The company emphasizes a cash dividend policy that ensures reasonable returns to investors, with clear standards and decision-making processes[132] - The company has not proposed any cash dividend distribution plan for the reporting period despite having positive distributable profits[134] Social Responsibility and Sustainability - The company is committed to environmental protection and sustainable development, implementing energy-saving and emission-reduction measures[147] - The company donated 220,000 RMB for educational support and organized various social welfare activities during the reporting period[147] - The company has established a talent development program and regularly provides training for employees[146] - The company has a dedicated team for coordinating energy-saving and emission-reduction efforts[147] Risks and Challenges - The company faces risks from macroeconomic fluctuations, trade policy changes, market expansion challenges, exchange rate volatility, and raw material price fluctuations[83][84][85][86][88] - The company intends to leverage scale effects and improve automation levels to mitigate rising material costs[82] Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue growth of 10% to 1.32 billion yuan[117] - New product launches are expected to contribute an additional 200 million yuan in revenue over the next year[117] - The company plans to enhance its digital marketing strategy, expecting a 25% increase in online sales as a result[117] - The company has set a performance guidance of 1.8 billion RMB in revenue for the next fiscal year, indicating a strong growth trajectory[153]

Financial Performance - The company's operating revenue for Q1 2022 was ¥335,957,154.72, representing a 29.67% increase compared to ¥259,078,569.51 in the same period last year[3] - The net profit attributable to shareholders for Q1 2022 was ¥27,268,489.10, a 45.54% increase from ¥18,735,992.80 year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥23,414,210.60, up 36.19% from ¥17,192,777.17 in the previous year[3] - The basic earnings per share for Q1 2022 was ¥0.33, reflecting a 32.00% increase from ¥0.25 in the same period last year[3] - The total profit for the period was CNY 31,965,384.74, up from CNY 21,935,872.42, reflecting a growth of 45.9% year-over-year[20] - Basic and diluted earnings per share were both CNY 0.33, compared to CNY 0.25 in the same period last year, representing a 32% increase[21] - The company reported a total comprehensive income of CNY 27,404,348.42 for Q1 2022, compared to CNY 18,816,960.85 in Q1 2021, an increase of 45.9%[20] Cash Flow and Assets - The net cash flow from operating activities was -¥76,905,679.14, a decrease of 242.46% compared to -¥22,457,005.81 in the previous year, primarily due to increased material procurement[3] - Cash and cash equivalents decreased to CNY 248,262,553.92 from CNY 351,075,355.13 at the beginning of the year, a decline of 29.3%[14] - Cash and cash equivalents at the end of the period were CNY 248,262,553.92, down from CNY 369,870,535.53 at the end of Q1 2021, a decrease of 32.7%[24] - Operating cash inflow for Q1 2022 was CNY 299,987,005.95, compared to CNY 239,230,645.90 in Q1 2021, marking a growth of 25.4%[23] - The cash outflow from investing activities was CNY 24,742,615.69, an improvement from CNY 85,965,945.29 in the previous year[24] - The cash flow from financing activities showed a net outflow of -CNY 381,250.01, compared to a net inflow of CNY 419,226,524.32 in Q1 2021[24] Assets and Liabilities - Total assets at the end of Q1 2022 were ¥1,334,655,493.41, a decrease of 3.51% from ¥1,383,214,348.00 at the end of the previous year[3] - Total liabilities decreased to CNY 362,034,079.79 from CNY 437,997,282.80, a decline of 17.3%[16] - Non-current liabilities remained stable at CNY 83,886,980.63, slightly up from CNY 83,569,952.51[16] - The equity attributable to shareholders at the end of Q1 2022 was ¥972,621,413.62, an increase of 2.90% from ¥945,217,065.20 at the end of the previous year[3] Operational Highlights - The company experienced an increase in sales orders, which contributed to the growth in revenue and profit[7] - The company approved a project for capacity expansion at its wholly-owned subsidiary, with a total investment of approximately ¥256,900,000[12] - The company reported a government subsidy of ¥4,784,283.11, which is closely related to its normal business operations[6] Other Financial Metrics - Total operating costs for Q1 2022 were CNY 304,024,730.21, up 25.6% from CNY 242,122,885.52 in Q1 2021[19] - Operating profit for Q1 2022 reached CNY 32,316,977.22, representing a 46.1% increase from CNY 22,111,692.98 in Q1 2021[19] - The company reported a net impairment loss of CNY 4,338,018.13 in Q1 2022, compared to a gain of CNY 3,115,070.17 in the previous year[19] Reporting and Compliance - The company did not conduct any audited financial reporting for the first quarter[25]

Financial Performance - The company's operating revenue for 2021 was ¥1,362,366,523.44, representing a 39.38% increase compared to ¥977,454,462.97 in 2020[17]. - The net profit attributable to shareholders for 2021 was ¥78,761,874.93, a decrease of 27.62% from ¥108,810,948.59 in 2020[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥70,576,696.07, down 31.15% from ¥102,505,568.97 in 2020[17]. - The net cash flow from operating activities for 2021 was ¥17,387,318.29, a significant decline of 83.18% compared to ¥103,376,030.12 in 2020[17]. - Basic earnings per share for 2021 were ¥0.98, a decrease of 44.94% from ¥1.78 in 2020[17]. - The weighted average return on net assets for 2021 was 8.70%, down 16.33% from 25.03% in 2020[17]. - Total assets increased by 92.77% to CNY 1,383,214,348 compared to the previous year[18]. - The company reported a net cash flow from operating activities of CNY 107,792,403.66 in Q4 2021, reversing negative cash flows in previous quarters[21]. - The company received government subsidies amounting to CNY 9,155,393.19, an increase from CNY 7,663,099.12 in 2020[23]. Research and Development - The company invested 54.60 million yuan in R&D, accounting for 4% of operating revenue, and obtained 27 new patents during the reporting period[38]. - As of December 31, 2021, the company held a total of 180 patents, including 26 invention patents[38]. - The number of R&D personnel rose by 21.15% from 208 in 2020 to 252 in 2021, with a slight decrease in the proportion of R&D personnel to total staff from 13.46% to 13.13%[54]. - Research and development expenses increased by 25.42% to ¥54,605,556.09, reflecting the company's commitment to enhancing R&D investment[52]. Market Expansion and Strategy - The company expanded its overseas market presence, achieving steady growth in overseas sales and increasing market share[37]. - The company has established a distribution network in over 60 countries and regions, including Asia, Latin America, and Africa[34]. - The company plans to leverage opportunities in the vehicle, agricultural machinery, and industrial automation sectors, driven by the growth of the motorcycle leisure culture and increasing consumer purchasing power[75]. - The company is actively pursuing market expansion strategies, focusing on increasing its presence in the agricultural machinery sector[108]. Corporate Governance - The board of directors consists of 7 members, including 3 independent directors, complying with legal and regulatory requirements[91]. - The company has established various management systems for information disclosure, ensuring transparency and equal access to information for all shareholders[92]. - The company operates independently from its controlling shareholders in terms of business, personnel, assets, and finance, maintaining a complete and independent operational system[95][96][100]. - The company has a performance evaluation and incentive mechanism for senior management, linking their compensation directly to the company's operational performance[91]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of ¥4.00 per 10 shares, based on a total of 81,750,000 shares[5]. - The total distributable profit available for shareholders is RMB 389.64 million, with the cash dividend accounting for 100% of the profit distribution[132]. - The company has established a clear cash dividend policy that complies with its articles of association and shareholder resolutions, ensuring the protection of minority shareholders' rights[131]. Risk Management - The company faces risks from macroeconomic fluctuations, trade policy changes, market expansion challenges, exchange rate volatility, and raw material price fluctuations[81][83][85][86]. - The company is committed to improving product quality and reducing costs to enhance competitiveness in response to macroeconomic risks[81]. Environmental and Social Responsibility - The company has a dedicated energy-saving and emission-reduction leadership team to oversee environmental protection efforts[145]. - The company has not reported any major environmental protection issues and promotes a low-carbon and environmentally friendly operational approach[143]. - The company donated 220,000 RMB for educational support and organized various social welfare activities during the reporting period[145]. Internal Control and Compliance - The internal control system is deemed effective, covering major aspects of business management and ensuring compliance with regulations[135]. - The company has not reported any significant internal control deficiencies during the reporting period[136]. - The company has not faced any penalties from securities regulatory authorities in the past three years[115]. Employee Information - The total number of employees at the end of the reporting period is 1,863, including 1,089 at the parent company and 774 at major subsidiaries[127]. - The company implements a salary management system that aligns compensation with company performance, price indices, and employee contributions[128]. - Annual training plans are developed to enhance employee skills, with monthly training activities for new employees and product training[129].

Revenue and Profit - Revenue for Q3 2021 reached ¥379,408,840.87, an increase of 36.31% compared to the same period last year[3] - Net profit attributable to shareholders decreased by 27.76% to ¥24,426,003.85 in Q3 2021[3] - Net profit after deducting non-recurring gains and losses was ¥23,039,454.85, down 27.57% year-on-year[3] - Total operating revenue for Q3 2021 reached ¥981,485,761.75, an increase of 44.6% compared to ¥678,699,279.38 in Q3 2020[16] - The company's net profit for Q3 2021 was ¥67,074,848.33, a decrease of 37.3% from ¥106,917,436.73 in Q3 2020[16] - Net profit for Q3 2021 was CNY 62,435,676.86, a decrease of 29.8% compared to CNY 89,077,707.05 in Q3 2020[17] - The company reported a total comprehensive income of CNY 62,217,248.08, a decrease from CNY 88,805,459.79 in Q3 2020[17] Cash Flow and Investments - Cash flow from operating activities showed a net outflow of ¥90,405,085.37, a decrease of 252.07% compared to the previous year[3] - Operating cash flow for the period was CNY -90,405,085.37, compared to CNY 59,448,419.24 in the same period last year[18] - Cash inflow from investment activities was CNY 64,061,433.29, significantly higher than CNY 1,722,522.10 in the same period last year[19] - Cash flow from financing activities generated CNY 399,819,572.93, compared to a cash outflow of CNY -47,163,766.56 in Q3 2020[19] - The company made significant investments totaling CNY 175,037,479.67 in the current period, compared to CNY 74,933,533.96 in the same period last year[19] Assets and Liabilities - Total assets increased by 73.26% to ¥1,243,239,591.93 compared to the end of the previous year[3] - Total assets reached ¥1,243,239,591.93, a significant increase of 73.3% from ¥717,538,362.52 at the end of 2020[13] - Total liabilities amounted to ¥312,756,307.80, up 37.0% from ¥228,572,326.47 at the end of 2020[14] - Total liabilities reached CNY 228,572,326.47, reflecting a decrease of CNY 3,281,276.18 from the prior period[25] - Current liabilities totaled CNY 180,537,869.01, down from CNY 181,661,835.68, indicating a reduction of CNY 1,123,966.67[25] - Non-current liabilities were CNY 48,034,457.46, a decrease of CNY 2,157,309.51 compared to the previous period[25] Shareholder Equity - Shareholders' equity attributable to shareholders rose by 90.30% to ¥930,483,284.13[3] - The company's equity attributable to shareholders increased to ¥930,483,284.13, compared to ¥488,966,036.05 at the end of 2020, reflecting a growth of 90.5%[14] - Owner's equity remained stable at CNY 488,966,036.05, unchanged from the previous period[25] Operational Metrics - The company reported a significant increase in sales orders, contributing to a 44.61% rise in revenue year-to-date[6] - The increase in material prices was a primary factor for the decline in net profit and earnings per share[6] - Research and development expenses for Q3 2021 were ¥39,234,096.21, an increase of 43.1% from ¥27,364,548.24 in Q3 2020[16] Other Financial Information - Basic earnings per share fell by 45.45% to ¥0.30, while diluted earnings per share also decreased by 45.45% to ¥0.30[3] - Cash and cash equivalents increased significantly to ¥256,011,791.77 as of September 30, 2021, compared to ¥59,498,767.76 at the end of 2020[12] - Accounts receivable rose to ¥216,717,174.13, up 52.1% from ¥142,423,679.37 at the end of 2020[12] - Inventory levels increased to ¥252,399,821.60, a rise of 71.5% from ¥147,076,090.95 at the end of 2020[12] - The company received tax refunds amounting to CNY 37,710,179.46, compared to CNY 14,019,278.50 in the previous year[18] - The company has no other non-recurring gains and losses beyond those reported[5] Audit and Standards - The company has not audited the third-quarter report, indicating it is unaudited[26] - The company adopted new leasing standards effective January 1, 2021, impacting the financial statements[26] - The report indicates a total of CNY 61,300,000.00 in share capital, remaining unchanged from the previous period[25]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 602,076,920.88, representing a 50.39% increase compared to CNY 400,349,316.53 in the same period last year[20]. - The net profit attributable to shareholders decreased by 31.22% to CNY 38,009,673.01 from CNY 55,263,074.90 year-on-year[20]. - Basic earnings per share dropped by 45.56% to CNY 0.49 from CNY 0.90 in the same period last year[20]. - The total profit for the first half of 2021 was CNY 44,824,390.82, a decrease of 30.9% from CNY 64,890,461.12 in the first half of 2020[132]. - The total comprehensive income for the first half of 2021 was CNY 37,964,499.59, down 31.1% from CNY 55,207,688.56 in the first half of 2020[133]. - The company's operating profit for the first half of 2021 was CNY 45,260,729.58, a decrease of 30.3% from CNY 64,923,350.41 in the first half of 2020[132]. Cash Flow and Financial Position - The net cash flow from operating activities was negative at CNY -49,381,273.58, a decline of 171.64% compared to CNY 68,925,518.23 in the previous year[20]. - The company reported a significant increase in cash and cash equivalents, with a net increase of CNY 168,720,386.76, a 6,093.03% rise compared to the previous year, primarily due to fundraising activities[41]. - The company's cash flow from operating activities for the first half of 2021 was negative CNY 49,381,273.58, compared to positive CNY 68,925,518.23 in the same period of 2020[138]. - The total cash inflow from financing activities reached 456,453,358.49 RMB, significantly up from 15,000,000.00 RMB in the first half of 2020[143]. - The net cash flow from investing activities was -150,894,432.29 RMB, worsening from -34,227,139.12 RMB year-over-year[142]. - The company reported a total cash and cash equivalents balance of 228,219,154.52 RMB at the end of the first half of 2021, compared to 83,461,219.63 RMB at the end of the first half of 2020[141]. Assets and Liabilities - Total assets increased by 65.03% to CNY 1,184,118,045.91 from CNY 717,538,362.52 at the end of the previous year[20]. - The company's fixed assets increased to CNY 247,193,445.31, but their proportion of total assets decreased to 20.88% due to a significant increase in total assets from fundraising[47]. - Total liabilities increased to CNY 259,417,219.57, up from CNY 221,946,173.88 at the end of 2020, indicating a 16.9% rise[129]. - The company's total current liabilities decreased from CNY 15,019,937.50 to zero, indicating a reduction in short-term borrowings[123]. - The company's total assets as of June 30, 2021, were CNY 906,162,103.28, compared to CNY 473,716,364.04 at the end of 2020, reflecting a 91.5% growth[128]. Research and Development - Research and development investment rose by 46.87% to CNY 24,546,788.02, reflecting the company's commitment to developing high-end and new products[40]. - The company has established a comprehensive R&D system, with 167 national patents as of June 30, 2021, and has participated in drafting or revising 24 national and industry standards[35]. - The company is committed to innovation and has developed new products, including 14 patents obtained during the reporting period, with 2 invention patents and 12 utility model patents[36]. Market and Business Strategy - The company focuses on the research, manufacturing, and sales of various chain transmission systems, primarily used in vehicles, agricultural machinery, and industrial equipment[28]. - The company aims to expand its production scale and optimize product structure while enhancing the quality of its core chain transmission components[29]. - The company plans to strengthen its market position by focusing on overseas market expansion and collaborating with leading domestic industrial internet companies[34]. - The company continues to enhance its competitive position in the agricultural machinery chain system market, driven by the increasing mechanization of farming practices[34]. Risks and Challenges - The company faces various risks as detailed in the report, which investors are advised to consider[5]. - The company is facing macroeconomic volatility risks, which may impact market expansion and product sales[59]. - The company is actively monitoring trade policy changes that could affect its overseas business, particularly in developing countries[61]. - The company is exposed to foreign exchange risks due to a high proportion of export revenue denominated in USD[63]. - The company is implementing cost control measures to mitigate the impact of rising raw material and labor costs on its overall operations[64]. Shareholder and Equity Information - The total number of shares increased from 61,300,000 to 81,750,000 after the IPO, representing a 33.4% increase[102]. - The company issued 20,450,000 new shares at a price of 23.28 RMB per share during the IPO[106]. - The largest shareholder, Qingdao Kuifeng Machinery Co., Ltd., holds 56.77% of the shares, totaling 46,410,000 shares[107]. - The company has 14,009 ordinary shareholders as of the end of the reporting period[107]. - The proportion of shares with limited sale conditions decreased to 74.98% after the IPO[102]. Corporate Governance and Compliance - The financial report for the first half of 2021 has not been audited[120]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[72]. - The company has not undergone any changes in its controlling shareholder or actual controller during the reporting period[112]. - There were no repurchase transactions conducted by the top ten shareholders during the reporting period[110]. Social Responsibility - The company donated 220,000 RMB for educational support and organized various social welfare activities during the reporting period[75].

Financial Performance - Qingdao Choho Industrial reported a revenue of RMB 1.2 billion in 2020, representing a year-over-year increase of 15% compared to 2019[15]. - The company achieved a net profit of RMB 150 million, which is a 20% increase from the previous year[15]. - The company's operating revenue for 2020 was ¥977,454,462.97, representing a 21.25% increase compared to ¥806,127,866.69 in 2019[22]. - The net profit attributable to shareholders for 2020 was ¥108,810,948.59, an increase of 18.33% from ¥91,959,218.35 in 2019[22]. - The basic earnings per share for 2020 was ¥1.78, an increase of 18.67% compared to ¥1.5 in 2019[22]. - The gross margin improved to 35%, up from 30% in the previous year, due to cost optimization strategies[15]. - The company has set a performance guidance of RMB 1.5 billion in revenue for 2021, reflecting a growth target of 25%[15]. - The company reported a significant increase in revenue, with a year-over-year growth of 15% in Q3 2023[200]. - The company provided a positive outlook for Q4 2023, projecting a revenue increase of 10% to 12%[200]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in sales from this region by 2022[15]. - The company aims to consolidate its market leadership and focus on expanding overseas markets, particularly in the industrial equipment chain system sector[67]. - The company is focused on expanding its market presence and enhancing its product offerings through new technologies[4]. - Market expansion plans include entering two new international markets by the end of 2023[200]. - The company is considering strategic acquisitions to enhance its market position, with a budget of $100 million allocated for potential deals[200]. Research and Development - The company has allocated RMB 50 million for research and development in new technologies for the upcoming fiscal year[15]. - The company is committed to continuous improvement and innovation in its business practices and product development[4]. - The company increased R&D investment, achieving 31 patent authorizations in 2020, including 5 invention patents, 23 utility model patents, and 3 design patents[79]. - The company is investing in R&D, allocating 8% of its revenue towards new technology development[200]. - The company has developed a strong team of industry experts and skilled workers, ensuring high product quality and production efficiency[74]. Risk Management - The company has outlined potential risks in its future development outlook, which investors are advised to consider[6]. - The company has identified risks related to macroeconomic fluctuations, trade policy changes, market expansion, exchange rate fluctuations, and raw material costs, which may impact its operational performance[119][120][121][122][123]. - The company aims to enhance product quality and efficiency to mitigate risks associated with macroeconomic volatility and rising raw material costs[119][123]. Corporate Governance and Compliance - The company emphasizes the importance of accurate financial reporting, with key personnel affirming the report's authenticity and completeness[5]. - The financial report is structured to ensure transparency and accountability to shareholders and stakeholders[5]. - The company has established a framework for compensating investors in case of losses due to misleading information in the prospectus[136]. - The company is committed to ensuring the accuracy and completeness of the prospectus, taking legal responsibility for any misleading information[135]. - The company has maintained a consistent audit relationship with Lixin Accounting Firm for 5 years, with an audit fee of ¥800,000[150]. Shareholder Information - The company reported a profit distribution plan of 4 RMB per 10 shares, based on a total of 81,750,000 shares[6]. - The cash dividend distribution for 2020 represents 30.05% of the net profit attributable to shareholders, while the 2018 distribution was 29.62%[127]. - The total number of shares is 61,300,000, with 100% held by domestic investors[176]. - The largest shareholder, KUIFENG Machinery, holds 75.71% of the shares, totaling 46,410,000 shares[178]. Product Development - New product development includes the launch of a high-efficiency gear transmission system, expected to contribute an additional RMB 200 million in revenue[15]. - The product line has expanded to include agricultural machinery components, enhancing market reach and brand influence[30]. - The company has developed new products such as tillage tools and plowshares for agricultural machinery, laying a solid foundation for future market expansion[30]. Operational Efficiency - The company is focusing on enhancing its supply chain efficiency, aiming for a 15% reduction in operational costs by the end of 2021[15]. - The company is committed to continuous product innovation and has established a robust R&D system in collaboration with several universities[69]. - The company has implemented various marketing strategies, including strategic partnerships and customer engagement activities, to drive stable growth in domestic and international markets[80]. Social Responsibility - The company has been committed to social responsibility, focusing on safety, product quality, and environmental protection[167]. - The company strictly implements national environmental protection laws and regulations, focusing on energy conservation and emission reduction[168].

Financial Performance - The company's operating revenue for Q1 2021 was ¥259,078,569.51, representing a 57.27% increase compared to ¥164,739,239.14 in the same period last year[9] - The net profit attributable to shareholders was ¥18,735,992.80, up 10.92% from ¥16,891,333.91 year-on-year[9] - The net profit after deducting non-recurring gains and losses was ¥17,192,777.17, reflecting a 13.16% increase from ¥15,193,325.79 in the previous year[9] - Operating revenue increased by 57.27% to ¥259,078,569.51 compared to ¥164,739,239.14 in the previous period, primarily due to increased sales[17] - Net profit for the current period is 18,735,992.80, compared to 16,891,333.91 in the previous period, reflecting an increase of approximately 10.9%[45] - Comprehensive income total for the current period is 18,816,960.85, compared to 16,635,571.91 in the previous period, showing an increase of about 13.1%[46] Cash Flow - The net cash flow from operating activities was -¥22,457,005.81, a decline of 114.40% compared to -¥10,474,583.07 in the same period last year[9] - Cash flow from operating activities for the current period is 226,791,954.84, compared to 140,790,565.14 in the previous period, indicating an increase of about 61.0%[52] - The company reported a net increase in cash and cash equivalents of 310,371,767.77 CNY, contrasting with a decrease of -38,235,849.59 CNY in the prior period[54] - The total cash outflow from investing activities was 86,063,945.29 CNY, resulting in a net cash flow of -85,965,945.29 CNY[54] - The company incurred 63,000,000.00 CNY in cash payments for investments during the quarter[54] - The cash balance at the end of the period was 369,870,535.53 CNY, significantly higher than 48,040,646.69 CNY at the end of the previous period[54] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,157,277,157.23, marking a 61.28% increase from ¥717,538,362.52 at the end of the previous year[9] - Current assets totaled CNY 815,943,374.14, up from CNY 412,579,705.52, indicating a 97.8% increase[35] - Total liabilities amounted to CNY 237,494,160.33, compared to CNY 228,572,326.47, showing a slight increase of 3.9%[37] - The company reported a decrease in current liabilities from CNY 180,537,869.01 to CNY 186,260,324.27, indicating a 3.8% increase[41] - Total equity attributable to shareholders reached CNY 488,966,036.05, remaining unchanged from the previous period[61] Shareholder Information - The total number of shareholders at the end of the reporting period was 15,224, with the top ten shareholders holding a combined 80.36% of the shares[13] - The net assets attributable to shareholders increased by 88.11% to ¥919,782,996.90 from ¥488,966,036.05 at the end of the previous year[9] - Shareholders' equity increased significantly to CNY 919,782,996.90 from CNY 488,966,036.05, a growth of 88.1%[38] Expenses - Operating costs rose by 68.09% to ¥208,898,717.68, attributed to higher sales and increased material costs[17] - Research and development expenses increased by 39.32% to ¥10,570,374.62, reflecting a commitment to enhance R&D investment[17] - Financial expenses skyrocketed by 6344.44% to ¥1,301,111.94, primarily due to exchange losses from the appreciation of the RMB[17] - The company reported a significant increase in management expenses by 82.02% to ¥14,857,179.58, mainly due to costs associated with the listing ceremony and external consulting[17] Fundraising and Investments - The total amount of funds raised from the IPO was ¥47,607.60 million, with a net amount of ¥41,200.00 million after deducting issuance costs[22] - The company plans to use ¥8,799.84 million of raised funds to replace pre-invested self-raised funds and issuance costs[24] - The balance of unused raised funds as of March 31, 2021, was ¥27,443.55 million, including ¥14,424.78 million in bank wealth management products[25] Other Information - The company has plans for market expansion and new product development, although specific details were not disclosed in the financial report[40] - The first quarter report was not audited, indicating preliminary financial results[67] - The company has implemented a new leasing standard effective January 1, 2021, adjusting relevant financial statement items accordingly[62]