Financial Performance - Operating revenue for the quarter was CNY 462,998,187.84, representing a year-on-year increase of 22.71%[8] - Net profit attributable to shareholders surged by 793.93% to CNY 27,947,259.43 for the quarter[8] - The company reported a significant decrease in net profit attributable to shareholders for the first three quarters, down 95.84% to CNY 4,342,913.91, primarily due to substantial non-recurring gains in the previous year[8] - The net profit attributable to shareholders of the parent company was CNY 27,947,259.43, a decrease from CNY 35,382,625.11 in the same period last year, reflecting a decline of 21.5%[34] - Total operating revenue for the first nine months of 2020 was CNY 1,336,401,602.30, a decrease of 8.04% compared to CNY 1,453,038,716.88 in the same period of 2019[35] - Net profit attributable to shareholders of the parent company for the first nine months of 2020 was CNY 4,342,913.91, down 95.84% from CNY 104,346,557.56 in the previous year[36] - The company reported a total comprehensive income of CNY 28,596,876.96 for Q3 2020, compared to a loss of CNY 3,557,633.45 in the same period last year[34] Assets and Liabilities - Total assets increased by 2.71% to CNY 5,675,344,576.31 compared to the end of the previous year[8] - The total assets of the company amounted to approximately CNY 5.68 billion, an increase from CNY 5.53 billion at the end of 2019[30] - The total liabilities of the company were reported at CNY 2.48 billion, up from CNY 2.36 billion at the end of 2019, reflecting an increase of about 5.1%[31] - The total liabilities amounted to CNY 2,245,301,720.79, up from CNY 1,212,504,536.16 in the previous year, indicating a significant increase of 85.0%[32] - The total assets reached CNY 5,675,344,576.31, compared to CNY 4,602,886,693.75 in the same quarter last year, marking an increase of 23.3%[32] - The total cash and cash equivalents at the end of the period amounted to 264,749,384.32, down from 301,527,354.56 at the beginning of the period, reflecting a decrease of approximately 12.2%[38] Cash Flow - The net cash flow from operating activities was negative at CNY -18,397,809.85, a decrease of 518.58% compared to the same period last year[8] - The company reported a net cash flow from operating activities of -CNY 96,748,498.60 for the first nine months of 2020, compared to -CNY 80,750,223.29 in the same period of 2019[37] - Cash inflow from operating activities totaled CNY 1,010,180,685.69, while cash outflow was CNY 1,106,929,184.29, resulting in a negative cash flow from operations[37] - The net cash flow from financing activities was -3,004,629.44, compared to a positive cash flow of 8,113,588.40 in the previous quarter, indicating a decline in financing activities[38] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 42,562, with the largest shareholder holding 20.27% of the shares[12] - The total equity attributable to shareholders of the parent company was CNY 3,358,611,568.59, slightly down from CNY 3,390,382,157.59 in the previous year[32] Expenses - The company's financial expenses increased due to a rise in short-term borrowings and interest costs[17] - The company's financial expenses increased to CNY 6,731,562.12, up from CNY 3,796,497.48 in the same quarter last year, reflecting a rise of 77.5%[33] - The company's financial expenses increased to CNY 16,792,890.19, up from CNY 9,264,084.67 in the previous year, primarily due to increased interest expenses[35] Inventory and Receivables - Accounts receivable increased to CNY 1.10 billion, up from CNY 1.03 billion at the end of 2019, representing a growth of approximately 6.5%[30] - Inventory levels rose to CNY 668.07 million, compared to CNY 539.50 million at the end of 2019, indicating an increase of about 23.8%[30] - The accounts receivable decreased by 21,962,430.65, from 1,030,342,541.88 to 1,008,380,111.23, indicating a reduction of approximately 2.1%[40] - The inventory level was reported at 539,497,213.39, remaining stable compared to previous periods[41] Research and Development - Research and development expenses for the quarter were CNY 14,025,316.13, which is an increase of 14.2% from CNY 12,281,212.29 in Q3 2019[33] - Research and development expenses for the first nine months of 2020 were CNY 38,740,337.42, slightly down from CNY 40,831,076.46 in the previous year[35] Other Financial Information - The company held 13,710,008 shares of Guotai Junan Securities, with a fair value of CNY 250.07 million as of September 30, 2020[21] - The company received cash dividends totaling CNY 5.35 million during the reporting period[21] - The company reported no derivative investments during the reporting period[22] - There were no violations regarding external guarantees during the reporting period[24] - The company has implemented new revenue and leasing standards starting from 2020, which required adjustments to the financial statements[39] - The company implemented new revenue and lease standards starting in 2020, with no retrospective adjustments to prior comparative data[47]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥873,403,414.46, a decrease of 18.81% compared to ¥1,075,729,240.57 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of ¥23,604,345.52, representing a decline of 121.78% from a profit of ¥108,373,919.30 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥8,256,994.99, down 123.42% from ¥35,262,178.97 in the same period last year[18]. - The net cash flow from operating activities was -¥78,350,688.75, slightly worse than -¥77,776,037.88 in the previous year, a decrease of 0.74%[18]. - The company's revenue for the reporting period was ¥873,403,414.46, a decrease of 18.81% compared to the same period last year, which was ¥1,075,729,240.57[37]. - The cost of goods sold was ¥748,075,096.12, down 18.67% from ¥919,759,979.86 in the previous year[37]. - Sales expenses decreased by 33.24% to ¥35,446,794.72 due to disruptions in overseas sales caused by the pandemic[37]. - Financial expenses increased by 84.02% to ¥10,061,328.07, primarily due to an increase in short-term borrowings and interest expenses[37]. - The company reported a net cash flow from operating activities of -78,350,688.75 CNY for the first half of 2020, compared to -77,776,037.88 CNY in the same period of 2019, indicating a slight increase in cash outflow[134]. - The company incurred a comprehensive loss of -24,910,499.83 CNY for the first half of 2020, compared to a comprehensive income of 131,542,846.33 CNY in the same period of the previous year[133]. Assets and Liabilities - The total assets at the end of the reporting period were ¥5,612,514,325.40, an increase of 1.57% from ¥5,525,503,256.26 at the end of the previous year[18]. - The total liabilities increased to CNY 2,211,068,346.84 from CNY 1,272,565,852.78, indicating a rise of approximately 73.5%[130]. - The company's total assets amounted to CNY 5,612,514,325.40, an increase from CNY 4,627,565,385.26 in the previous year[131]. - The company's liquidity ratio was 127.70%, slightly up from 127.04% at the end of the previous year[121]. - The asset-liability ratio increased to 39.39% from 37.49% at the end of the previous year[121]. - The company's total liabilities at the end of the first half of 2020 were not explicitly stated but are implied to have changed in relation to the equity adjustments[138]. Shareholder Information - The total number of shares is 843,212,507, with 3,106,491 shares under limited conditions, representing 0.37% of the total[96]. - The company’s major shareholder, Dalian Iceberg Group Co., Ltd., holds 20.27% of the shares, totaling 170,916,934 shares[100]. - SANYO Electric Co., Ltd. owns 8.72% of the shares, amounting to 73,503,150 shares[100]. - The number of common shareholders at the end of the reporting period is 47,718[100]. - The company reported a decrease in the number of shares repurchased, with a total of 843,212,507.00 CNY in equity at the end of the reporting period[136]. Business Strategy and Operations - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company faced significant risks including intensified market competition and slow market promotion of new products and technologies[5]. - The decline in net profit was primarily due to substantial non-recurring gains in the previous year and significant non-recurring losses in the current period, exacerbated by the impact of the COVID-19 pandemic[18]. - The company is actively promoting new product development, including multifunctional smart vending machines and automatic coffee machines[34]. - The company is pursuing strategic partnerships and financing opportunities to expand its business scale and enhance its market position[35]. - The company has established a comprehensive cold chain service solution, covering design, manufacturing, installation, and maintenance, enhancing customer satisfaction[29]. - The company’s subsidiary successfully completed several key projects, including a cold chain system installation for a poverty alleviation initiative in Xinjiang[33]. - The company is advancing its digital transformation with the establishment of the Iceberg Shared Service Platform, providing various digital solutions to clients[33]. - The company’s joint venture, Panasonic Compressors, is shifting its sales focus from large clients to small and medium-sized enterprises, enhancing its market reach[34]. Financial Management and Investments - The company has indicated a focus on cost control and efficiency improvements in response to the declining revenue and profit margins[132]. - The company received a special fund of CNY 160 million from the National Development Fund, with a term of 10 years and an interest rate of 1.2%[80]. - The company provided a guarantee of CNY 10 million for its subsidiary Wuxin Refrigeration, with a guarantee period of 3 years[80]. - The company has no significant financial investments in entrusted wealth management during the reporting period[81]. - The company has no other significant contracts or major issues to report during the reporting period[82]. Environmental and Social Responsibility - The company has established a wastewater treatment station, ensuring all wastewater is treated to meet standards before discharge[83]. - The company has implemented noise control measures to ensure that noise levels at the factory boundary do not exceed standard limits[83]. - The company has invested CNY 72,940 in consumption assistance for local products as part of its poverty alleviation efforts[87]. - The company has set up an "Ice Mountain Love Scholarship Point" to support education for children from impoverished families in Songlin Village[86]. - The company has committed to ongoing support for Songlin Village, including the completion of the loudspeaker project and regular assessments of local needs[90]. Accounting and Financial Reporting - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that its financial reports accurately reflect its financial status and operating results[154]. - The company includes all controlled subsidiaries in the consolidated financial statements, adjusting for any inconsistencies in accounting policies or periods[160]. - Significant internal transactions, balances, and unrealized profits within the consolidated scope are offset during the preparation of consolidated financial statements[160]. - The company recognizes financial assets based on the business model and cash flow characteristics, classifying them into amortized cost, fair value through other comprehensive income, or fair value through profit or loss[170]. - Expected credit losses are recognized for financial assets measured at amortized cost and for debt instruments measured at fair value through other comprehensive income[182].

Financial Performance - The company's revenue for Q1 2020 was ¥463,218,112.74, a decrease of 18.03% compared to ¥565,075,729.08 in the same period last year[8] - The net profit attributable to shareholders was a loss of ¥58,673,476.79, representing a decline of 154.94% from a profit of ¥106,786,822.74 in the previous year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥29,177,871.92, a decrease of 277.63% compared to a profit of ¥16,426,346.23 last year[8] - The total operating revenue for Q1 2020 was CNY 463.22 million, a decrease of 18.06% compared to CNY 565.08 million in the same period last year[32] - The net profit for the period was a loss of CNY 60.04 million, compared to a profit of CNY 105.18 million in the previous year, representing a decline of 157.06%[33] Cash Flow and Operating Activities - The net cash flow from operating activities was -¥81,344,046.60, an improvement of 13.68% from -¥94,192,502.27 in the same period last year[8] - The company reported a negative cash flow from operating activities of CNY 81.34 million, compared to a negative cash flow of CNY 94.19 million in the same period last year[35] - Cash inflow from operating activities totaled CNY 285.16 million, while cash outflow was CNY 366.51 million, leading to a net cash flow deficit[35] - The investment activities resulted in a net cash outflow of CNY 2.43 million, reflecting limited investment activity during the period[35] - The net cash flow from financing activities was $32,958,638.61, a significant increase compared to $8,800,237.02 in the previous period[37] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,542,445,476.49, an increase of 0.31% from ¥5,525,503,256.26 at the end of the previous year[8] - The company's total liabilities reached CNY 2,148,358,246.32, an increase from CNY 2,071,375,402.66 in the previous period[31] - The total equity attributable to shareholders was CNY 3,320,891,553.10, slightly down from CNY 3,379,565,029.89[31] - Total assets amounted to $5,525,503,256.26, with current assets at $2,217,596,115.49 and non-current assets at $3,307,907,140.77[40] - The total liabilities were $2,071,375,402.66, with current liabilities at $1,745,604,852.31 and non-current liabilities at $325,770,550.35[40] Shareholder Information - Basic and diluted earnings per share were both -¥0.070, down 156.00% from ¥0.125 in the previous year[8] - The weighted average return on equity was -1.75%, a decrease of 4.86 percentage points from 3.11% last year[8] - The net assets attributable to shareholders decreased by 1.74% to ¥3,320,891,553.10 from ¥3,379,565,029.89 at the end of the previous year[8] - The total equity attributable to shareholders was $3,379,565,029.89, with retained earnings of $1,038,358,782.59[42] Operational Insights - The significant decline in net profit was primarily due to large non-recurring gains in the previous year and substantial non-recurring losses in the current period, exacerbated by the impact of the COVID-19 pandemic[8] - Research and development expenses were CNY 11.66 million, slightly up from CNY 11.56 million year-on-year, indicating a focus on innovation despite financial losses[32] - The company incurred financial expenses of CNY 3.99 million, with interest expenses constituting CNY 4.75 million, reflecting increased borrowing costs[32] - The company reported a net loss of approximately ¥29,510,604.87 from non-recurring gains and losses during the reporting period[10] Other Notable Information - The company reported no derivative investments or entrusted financial management during the reporting period[23][22] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[26] - The company did not engage in any research, communication, or interview activities during the reporting period[24] - The company executed new revenue and lease standards starting from 2020, impacting financial reporting[38] - The company has not undergone an audit for the first quarter report[44]

Financial Performance - The company's operating revenue for 2019 was CNY 1,831,851,280.70, a decrease of 6.83% compared to CNY 1,966,064,612.44 in 2018[18]. - The net profit attributable to shareholders for 2019 was CNY 89,112,113.43, down 19.36% from CNY 110,503,175.90 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was CNY 21,406,535.65, a decline of 53.32% compared to CNY 45,862,588.97 in 2018[18]. - The basic earnings per share for 2019 was CNY 0.106, down 18.46% from CNY 0.13 in 2018[18]. - The total assets at the end of 2019 were CNY 5,525,503,256.26, a slight decrease of 0.77% from CNY 5,568,279,452.26 at the end of 2018[18]. - The net assets attributable to shareholders increased marginally to CNY 3,379,565,029.89, up 0.06% from CNY 3,377,633,617.02 in 2018[18]. - The company achieved operating revenue of CNY 1,831.85 million in 2019, a decrease of 6.83% year-on-year[34]. - The net profit attributable to shareholders was CNY 89.11 million, down 19.36% compared to the previous year[34]. - In Q1 2019, the net profit attributable to shareholders was CNY 106.79 million, while in Q2 it dropped to CNY 1.59 million, and in Q3 and Q4, it recorded losses of CNY 4.03 million and CNY 15.23 million respectively[23]. Cash Flow and Investments - The net cash flow from operating activities improved to CNY 12,695,071.81, a significant increase of 110.61% from a negative cash flow of CNY -119,657,885.64 in 2018[18]. - The company’s cash flow from operating activities showed a net outflow of CNY 94.19 million in Q1, but turned positive in Q4 with CNY 93.45 million[23]. - The company's investment activities generated a net cash flow of ¥115,559.96, a significant decrease of 99.82% from ¥62,732,656.41 in 2018[56]. - The total investment amount for the reporting period was ¥1,662,181,009.14, reflecting a 2.62% increase compared to the previous year[65]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.3 per 10 shares, totaling CNY 25,296,375.21 based on 843,212,507 shares[5]. - The company announced a cash dividend of 0.3 yuan per 10 shares for the fiscal year 2019, totaling 25,296,375.21 yuan, which represents 28.39% of the net profit attributable to ordinary shareholders[85][84]. - The net profit for the parent company in 2019 was 15,204.6 million yuan, with a distributable profit of 13,684.2 million yuan after statutory reserve deductions[86][85]. - The cash dividend payout ratio for 2018 was 38.15%, with a total cash dividend of 42,160,625.35 yuan[84]. - The company has maintained a consistent cash dividend policy over the past three years, with 0.5 yuan per 10 shares in both 2017 and 2018[84]. Market and Competitive Landscape - The company faces risks including intensified market competition and slow promotion of new products and technologies[5]. - The company is actively promoting R22 reduction phase one product in the market and has successfully passed the phase one technology research and design[34]. - The company is expanding its service network and implementing 5G technology applications for remote diagnostics and AI management[35]. - The company aims to address high accounts receivable risks through strategic measures outlined in the report[5]. - The company is facing challenges such as intensified market competition and the slow market promotion of new products and technologies, which it plans to address through differentiated competitive advantages[74]. - The company expects the refrigeration and air conditioning industry to face complex challenges in 2020, with ongoing market competition and cost pressures[73]. Research and Development - The company introduced 12 new patents during the reporting period, including 3 invention patents, reflecting its commitment to innovation[38]. - Research and development expenses for 2019 were ¥64,272,675.78, a decrease of 15.17% compared to ¥75,763,034.87 in 2018[54]. - The proportion of research and development expenses to operating income decreased by 0.34 percentage points to 3.51% in 2019[55]. Environmental Compliance - The company reported a total chemical oxygen demand (COD) discharge of 3.24 tons, which is below the approved limit of 6 tons, indicating compliance with environmental standards[123]. - Ammonia nitrogen discharge was recorded at 0.2 tons, well under the approved limit of 0.9 tons, demonstrating effective pollution control measures[123]. - Dust emissions were 2.88 tons, significantly lower than the approved limit of 6.8 tons, reflecting the company's commitment to environmental protection[123]. - The company has implemented a rainwater and sewage diversion system, with wastewater treated in an in-house facility before being discharged to the local sewage treatment plant[124]. - The company utilizes high-efficiency bag dust collectors for various processes, ensuring that emissions meet regulatory standards before being released through 15m exhaust stacks[124]. - Regular monitoring of wastewater, noise, and air emissions is conducted, with all indicators reported to be within compliance limits[128]. - The company has established a waste management system, with hazardous waste being collected and treated by qualified vendors to ensure safe disposal[125]. - An emergency response plan for environmental incidents has been developed and filed with the local environmental protection bureau[127]. - The company has undergone environmental acceptance testing for its relocation project, which was approved by local authorities in March 2018[126]. - No significant environmental incidents or non-compliance issues were reported during the reporting period[129]. Corporate Governance - The company has engaged Xinyong Zhonghe Accounting Firm for the audit of its 2019 financial statements, continuing a relationship of four years[94]. - The audit committee confirmed that the internal control system of the company is effective and complies with relevant requirements, with no major defects identified in the internal control evaluation report for 2019[183]. - The company’s financial report for 2019 was deemed comprehensive and truthful, reflecting the actual financial situation, with no significant deficiencies reported[179]. - The audit report issued by Xinyong Zhonghe Accounting Firm confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2019[200]. - The company’s internal control self-evaluation report was disclosed on April 18, 2020, indicating that all major aspects were effectively controlled[186]. - The company’s management performance evaluation and incentive measures were conducted based on established operational performance assessment methods[182]. Employee and Management Structure - The company employed a total of 1,582 staff, with 861 in production, 242 in sales, and 253 in technical roles[165]. - The company has 63 employees with a master's degree or above, and 472 with a university degree[166]. - The company has established a performance-based salary system for employees, distributing compensation based on job roles and performance evaluations[167]. - The total number of employees receiving compensation during the reporting period was 1,582, reflecting a stable workforce[165]. - The total pre-tax remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 3.6097 million[162]. - The company maintains a diverse board with members holding various professional backgrounds, including finance and management[160]. - The company has undergone changes in its board members, with several resignations due to term completion or work changes[157][158]. Related Party Transactions - The company maintains normal related-party transactions necessary for its operations, ensuring compliance with decision-making procedures[171]. - In 2019, the total amount of daily related party transactions was 603.8 million yuan, accounting for 78.42% of the estimated amount for the year[102]. - The company purchased complete project supporting products from related parties for 226.36 million yuan, which accounted for 80.84% of the estimated amount for 2019[102]. - The company sold supporting components to related parties for 377.44 million yuan, representing 77.03% of the estimated amount for 2019[102]. Shareholder Structure - The largest shareholder, Dalian Iceberg Group Co., Ltd., holds 20.27% of the shares, totaling 170,916,934 shares[144]. - SANYO Electric Co., Ltd. is the second-largest shareholder with an 8.72% stake, amounting to 73,503,150 shares[144]. - The total number of shares for dividend calculation in 2019 was 843,212,507[86]. - The total number of ordinary shareholders increased from 50,350 to 52,255 during the reporting period[144]. - The company has no actual controller, as confirmed by a legal announcement made on April 24, 2015[147]. - There are no shareholders holding more than 10% of the shares during the reporting period[149]. - The company does not have any preferred shares or convertible bonds in the reporting period[151][154].

Financial Performance - Operating revenue for the reporting period was ¥377,309,476.31, a decrease of 21.76% year-on-year[8] - Net profit attributable to shareholders was -¥4,027,361.74, a decline of 127.93% compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥4,567,091.45, down 65.25% year-on-year[8] - Basic earnings per share were -¥0.004, a decrease of 123.53% compared to the same period last year[8] - The weighted average return on net assets was -0.10%, a decrease of 0.42 percentage points from the previous year[8] - The company reported a gross profit margin of approximately -5.2% for Q3 2019, down from a positive margin in the previous year[34] - Total comprehensive income for the period was CNY -3,557,633.45, compared to CNY 21,973,885.01 in the previous year[35] - Basic and diluted earnings per share were both CNY -0.004, compared to CNY 0.017 in the same period last year[35] - Operating profit for the quarter was CNY -7,233,329.87, a decline from CNY 17,836,465.61 in Q3 2018[34] - Total operating revenue for the first nine months of 2019 was CNY 1,453,038,716.88, a decrease of 3.85% compared to CNY 1,511,346,271.08 in the same period last year[36] - Net profit attributable to shareholders of the parent company was CNY 104,346,557.56, an increase of 42.09% from CNY 73,435,111.78 in the previous year[37] - Operating profit for the first nine months was CNY 110,952,930.83, up 42.55% from CNY 77,775,267.32 in the same period last year[36] - Total comprehensive income for the period was CNY 103,212,743.03, compared to CNY -6,573,233.94 in the previous year[37] Assets and Liabilities - Total assets at the end of the reporting period reached ¥5,675,197,752.91, an increase of 1.92% compared to the end of the previous year[8] - The company's current assets totaled CNY 2,461,113,046.47, compared to CNY 2,297,241,063.27 at the end of 2018, reflecting a growth of approximately 7.1%[30] - The total liabilities stood at CNY 2,042,898,891.82, up from CNY 1,616,820,078.46, reflecting an increase of approximately 26.4%[31] - Short-term borrowings increased to CNY 348,082,000.00 from CNY 250,000,000.00, a rise of 39.2%[31] - The company's long-term investments in equity reached CNY 1,652,872,574.52, compared to CNY 1,619,693,570.97 at the end of 2018, showing a growth of about 2.0%[30] - Total liabilities amounted to CNY 2,180,508,095.38, an increase from CNY 2,109,849,564.41 year-over-year[34] - The total cash and cash equivalents at the end of the period decreased to 250,267,033.87 CNY, down from 304,703,434.47 CNY at the beginning of the period, reflecting a net decrease of 54,436,400.60 CNY[39] - The total assets amounted to 5,568,279,452.26 CNY, with current assets totaling 2,297,241,063.27 CNY and non-current assets at 3,271,038,388.99 CNY[42] - The total liabilities were reported at 2,109,849,564.41 CNY, with current liabilities comprising 1,616,820,078.46 CNY[43] - The company's equity attributable to shareholders increased to 3,377,633,617.02 CNY, with retained earnings rising to 764,859,288.45 CNY[43] Cash Flow - The company reported a net cash flow from operating activities of -¥80,750,223.29, an increase of 44.11% year-on-year[8] - Cash flow from operating activities showed a net outflow of CNY 80,750,223.29, an improvement from a net outflow of CNY 144,478,049.04 in the same period last year[38] - The net cash flow from financing activities was 12,450,728.44 CNY, a significant recovery from a negative cash flow of -39,242,096.55 CNY in the previous quarter[39] - The cash outflow from financing activities totaled 435,284,422.20 CNY, compared to 347,324,096.55 CNY in the previous quarter[39] - The company reported a cash inflow from financing activities of 447,735,150.64 CNY, an increase from 308,082,000.00 CNY in the previous quarter[39] Investments and R&D - Significant non-recurring gains included approximately ¥30.05 million from fair value changes of Guotai Junan and ¥40.57 million from investment income due to stock swaps[8] - Research and development expenses increased to CNY 12,281,212.29, up from CNY 7,716,123.13 in the same quarter last year, indicating a focus on innovation[34] - Research and development expenses increased to CNY 40,831,076.46, representing a rise of 15.36% compared to CNY 35,330,459.80 in the previous year[36] - Investment income for the period was CNY 146,269,781.75, an increase from CNY 109,466,978.18 in the previous year[36] - The company experienced a notable increase in construction in progress due to investments in new smart manufacturing projects[18] Compliance and Adjustments - The company reported no instances of non-compliance with external guarantees or misuse of funds by major shareholders during the reporting period[26] - The company adjusted its financial statements to reflect a reclassification of available-for-sale financial assets amounting to 382,186,729.99 CNY to other non-current financial assets[44] - The company has implemented new financial instrument standards, impacting the financial reporting and asset classification[40] - The company adjusted its other comprehensive income to -CNY 294,408,505.78 due to new financial instrument standards[47] - The report for the third quarter was not audited, indicating potential implications for financial reliability[48]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,075,729,240.57, representing a 4.53% increase compared to CNY 1,029,078,536.79 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 108,373,919.30, an increase of 83.63% from CNY 59,017,542.28 in the previous year[18]. - The basic earnings per share increased by 84.06% to CNY 0.127 from CNY 0.069 in the previous year[18]. - The total profit for the same period was 120.54 million RMB, reflecting a significant year-on-year growth of 94.53%[31]. - The company's revenue for the reporting period was approximately ¥1.08 billion, representing a year-over-year increase of 4.53% compared to ¥1.03 billion in the same period last year[38]. - The total operating revenue for the first half of 2019 was CNY 1,075,729,240.57, an increase from CNY 1,029,078,536.79 in the same period last year, representing a growth of approximately 4.5%[129]. - The net profit for the first half of 2019 reached CNY 106,770,376.48, compared to CNY 58,521,630.70 in the previous year, indicating a significant increase of approximately 82.4%[129]. - The total comprehensive income for the first half of 2019 was CNY 131,542,846.33, reflecting a recovery from the previous year's losses[136]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 5,607,305,672.24, a 0.70% increase from CNY 5,568,279,452.26 at the end of the previous year[18]. - The total liabilities were CNY 2,109,058,381.26, compared to CNY 1,113,281,187.95 in the previous year, showing an increase of approximately 89.5%[127]. - The company's total equity increased to CNY 3,498,247,290.98 from CNY 3,361,155,457.18, marking a growth of about 4.1%[128]. - The company's total equity attributable to the parent company at the end of the first half of 2019 was CNY 3,296,565,584.20, a decrease from CNY 3,361,155,457.18 at the end of 2018, representing a decline of approximately 1.92%[136]. Cash Flow - The net cash flow from operating activities improved by 32.56%, reaching CNY -77,776,037.88 compared to CNY -115,328,757.17 in the previous year[18]. - The company's cash and cash equivalents decreased by 47.38%, with a net decrease of approximately ¥90.29 million compared to a decrease of ¥61.26 million in the previous year[38]. - The net cash flow from operating activities for the first half of 2019 was -77,776,037.88 CNY, compared to -115,328,757.17 CNY in the same period last year, indicating an improvement[131]. - The company reported a total cash inflow from operating activities of 643,946,321.33 CNY, down from 659,536,687.27 CNY year-on-year[131]. Investments and R&D - Research and development expenses for the first half of 2019 were CNY 28,549,864.17, compared to CNY 27,614,336.67 in the previous year, indicating a slight increase of approximately 3.4%[129]. - The company reported an investment income of CNY 117,127,421.73, which is significantly higher than CNY 66,613,044.44 from the previous year, representing an increase of approximately 76%[129]. Market and Competition - The company faced risks including intensified market competition and slow market promotion of new products and technologies[5]. - The company aims to enhance its competitive advantage through differentiated marketing of new products and technologies[52]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[129]. Shareholder and Equity Management - The company plans not to distribute cash dividends or issue bonus shares[6]. - The total number of shares decreased from 855,434,087 to 843,212,507, a reduction of 12,221,580 shares[94]. - The company reported a profit distribution of CNY 42,160,625.35 to shareholders in the first half of 2019[134]. - The company has been actively involved in stock incentive plans, having issued 10,150,000 restricted shares at a price of CNY 5.56 per share in 2015, which reflects its commitment to employee engagement and retention[138]. Environmental and Community Engagement - The company has established a wastewater treatment station to ensure all wastewater meets standards before discharge[77]. - The company continues to support poverty alleviation efforts in Songlin Village, focusing on education and infrastructure improvements[83]. - The company has been actively involved in community support, including the construction of a cultural square in Songlin Village[85]. - The company has maintained compliance with environmental regulations throughout its operations[82]. Accounting and Financial Reporting - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations[146]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that financial reports accurately reflect the financial status and operational results[148]. - The company recognizes gains or losses from financial assets and liabilities based on their fair value changes, impacting the profit or loss for the period[166].

Financial Performance - The company's operating revenue for Q1 2019 was ¥565,075,729.08, representing a 9.68% increase compared to ¥515,183,744.97 in the same period last year[8]. - Net profit attributable to shareholders increased significantly to ¥106,786,822.74, a 317.24% rise from ¥25,593,358.53 year-on-year[8]. - Basic earnings per share rose to ¥0.125, up 316.67% from ¥0.030 in the previous year[8]. - The weighted average return on equity improved to 3.11%, an increase of 2.36 percentage points compared to 0.75% last year[8]. - The gross profit margin for the period was approximately 13.5%, down from the previous year's margin, indicating increased costs[30]. - The total comprehensive income for the period was CNY 105,181,871.04, compared to a loss of CNY 7,958,079.27 in Q1 2018, indicating a turnaround[31]. - The basic earnings per share for Q1 2019 were CNY 0.125, compared to CNY 0.030 in the same period last year, reflecting improved profitability[31]. Assets and Liabilities - Total assets decreased by 1.50% to ¥5,484,524,296.09 from ¥5,568,279,452.26 at the end of the previous year[8]. - The total liabilities amounted to CNY 1,945,704,885.20, up from CNY 1,034,496,493.22 in the previous year, indicating a growth of 88.1%[30]. - The total assets of the company were reported at 5,568,279,452.26 CNY, with total current assets at 2,297,241,063.27 CNY[37]. - The total liabilities of the company amounted to 2,109,849,564.41 CNY, with current liabilities at 1,616,820,078.46 CNY[37]. - The total liabilities were CNY 1,594,316,093.17, with short-term borrowings of CNY 270,000,000.00[28]. - The total current assets amounted to CNY 2,236,305,616.25, a decrease from CNY 2,297,241,063.27 at the start of the period[26]. Cash Flow - The company reported a net cash flow from operating activities of -¥94,192,502.27, an improvement of 19.64% from -¥117,217,303.00 in the same period last year[8]. - Total cash inflow from operating activities was 295,470,844.72 CNY, up from 252,198,569.37 CNY year-over-year, representing an increase of about 17.2%[32]. - Cash outflow from operating activities totaled 389,663,346.99 CNY, compared to 369,415,872.37 CNY in the previous year, reflecting a rise of approximately 5.1%[32]. - The cash flow from investment activities showed a net outflow of -4,457,659.06 CNY, compared to a net inflow of 5,851,354.50 CNY in the same quarter last year[32]. - Cash inflow from financing activities was 226,733,150.64 CNY, while cash outflow was 232,996,327.51 CNY, resulting in a net cash flow of -6,263,176.87 CNY[34]. - The ending cash and cash equivalents balance was 199,469,927.08 CNY, down from 304,703,434.47 CNY at the beginning of the period, indicating a decrease of approximately 34.5%[34]. Shareholder Information - The top ten shareholders include Dalian Bingshan Group Co., Ltd. with a 20.27% stake and SANYO Electric Co., Ltd. with an 8.72% stake[12]. - The company’s total equity increased to CNY 3,538,819,410.89 from CNY 3,393,133,932.38, representing a growth of 4.3%[30]. - Total equity attributable to shareholders was CNY 3,296,565,584.20, with retained earnings increasing by CNY 294,408,505.78[42]. - The total equity increased from CNY 3,377,633,617.02 to CNY 3,458,429,887.85, reflecting a stable financial position[39]. Investments and Projects - The company is investing in new projects, including an intelligent manufacturing project and an R22 reduction project, which contributed to an increase in construction in progress[16]. - The company's long-term equity investments were valued at CNY 1,654,219,138.55, up from CNY 1,619,693,570.97 at the beginning of the period[28]. Other Financial Information - Non-recurring gains and losses totaled ¥90,360,476.51, primarily due to fair value changes and investment income from stock exchanges[9]. - The company reported no derivative investments during the reporting period[20]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[23]. - The company has not undergone an audit for the first quarter report, which may affect the reliability of the financial data presented[44].

Financial Performance - The company's operating revenue for 2018 was CNY 1,966,064,612.44, a decrease of 5.46% compared to CNY 2,079,715,105.37 in 2017[17] - The net profit attributable to shareholders for 2018 was CNY 110,503,175.90, down 44.96% from CNY 200,759,820.17 in the previous year[17] - The net profit after deducting non-recurring gains and losses was CNY 45,862,588.97, a decline of 72.21% compared to CNY 165,044,724.44 in 2017[17] - Basic earnings per share decreased by 43.48% to CNY 0.13 from CNY 0.23 in 2017[17] - The company's total revenue for 2018 was CNY 1.97 billion, representing a year-over-year decline of 5.46%, while total profit decreased by 45.59% to CNY 118.88 million[33] - The company reported a net profit of CNY 162,141,000 for 2018, after deducting a 10% statutory surplus reserve of CNY 16,214,100[90] Cash Flow - The net cash flow from operating activities was CNY -119,657,885.64, an improvement of 42.26% from CNY -207,225,851.22 in 2017[17] - The company experienced a significant cash flow challenge, with a net cash flow from operating activities of -CNY 117.22 million in Q1 2018[23] - The company’s cash flow from operating activities showed improvement in Q4 2018, reaching CNY 24.82 million[23] - The net cash flow from investing activities significantly increased by 117.98%, reaching ¥62,732,656.41 in 2018 compared to a negative ¥348,933,044.52 in 2017[54] - The net cash flow from financing activities decreased by 99.78%, amounting to ¥519,265.38 in 2018, down from ¥231,996,869.54 in 2017[54] Assets and Liabilities - Total assets at the end of 2018 were CNY 5,568,279,452.26, a slight decrease of 0.91% from CNY 5,619,621,500.67 at the end of 2017[17] - The net assets attributable to shareholders decreased by 1.14% to CNY 3,377,633,617.02 from CNY 3,416,531,064.91 in 2017[17] - The proportion of cash and cash equivalents to total assets decreased by 0.87 percentage points, from 7.03% in 2017 to 6.16% in 2018[58] - Accounts receivable increased by 1.45 percentage points, accounting for 19.89% of total assets in 2018, compared to 18.44% in 2017[58] - Long-term equity investments increased by 1.18 percentage points, making up 29.09% of total assets in 2018, compared to 27.91% in 2017[58] Revenue Sources - Revenue from the refrigeration and air conditioning industry accounted for 98.01% of total revenue, with a decrease of 5.72% year-on-year[40] - The Northeast region contributed 78.80% of total revenue, with a slight decrease of 5.48% year-on-year[40] - The company’s top five customers accounted for 20.19% of total sales, with Panasonic Cold Chain (Dalian) Co., Ltd. being the largest customer at 8.98%[47] Research and Development - Research and development expenses amounted to CNY 75,763,034.87, representing 3.85% of total operating revenue, a decrease from 4.51% in 2017[52] - The number of research and development personnel was 263, accounting for 15.71% of total employees, an increase from 15.52% in 2017[52] Dividends and Profit Distribution - The company plans to distribute a cash dividend of CNY 0.50 per 10 shares to all shareholders[5] - In 2018, the company distributed a cash dividend of CNY 42,160,625.35, which accounted for 38.15% of the net profit attributable to ordinary shareholders[88] - The total distributable profit for 2018 was CNY 145,926,616.89, with the cash dividend representing 100% of the profit distribution[89] Market and Competition - The company faces risks including intensified market competition and slow promotion of new products and technologies[5] - The company aims to leverage innovative business models and strong technical foundations to capture market opportunities in the cold chain logistics sector[78] - The company will focus on smart manufacturing and service-oriented manufacturing to address intensified market competition and enhance operational efficiency[79] Environmental Management - The company has implemented a wastewater treatment system that meets standards before discharging into the local sewage treatment plant[125] - The company has established a professional wastewater treatment facility with a daily processing capacity of 700 tons at its subsidiary, Panasonic Compressor (Dalian) Co., Ltd.[127] - The company has reported no significant environmental incidents during the reporting period, reflecting its commitment to environmental management[130] Corporate Governance - The company has no significant discrepancies with the governance norms set by the China Securities Regulatory Commission[171] - The audit committee has effectively supervised the internal audit system and evaluated the company's financial information, confirming compliance with relevant requirements[179] - The company maintains independence from its controlling shareholder in business, personnel, assets, and financial matters[172] Shareholder Structure - Dalian Bingshan Group Co., Ltd. holds 19.98% of the shares, amounting to 170,916,934 shares, while SANYO Electric Co., Ltd. holds 8.59%, equivalent to 73,503,150 shares[146] - The total number of ordinary shareholders at the end of the reporting period was 51,061, down from 60,697 at the end of the previous month[146] Management and Workforce - The company employed a total of 1,674 staff, with 915 in production, 258 in sales, 263 in technical roles, 35 in finance, and 203 in administration[164] - The educational background of employees includes 62 with master's degrees or above, 492 with university degrees, 511 with college diplomas, and 609 with secondary vocational education or below[165] - The remuneration policy is based on performance evaluation and job responsibilities, ensuring competitive compensation aligned with industry standards[166]