Financial Performance - The company's revenue for Q1 2022 was CNY 371,697,391.48, representing a 105.84% increase compared to CNY 180,572,044.65 in the same period last year[3] - Net profit attributable to shareholders decreased by 51.34% to CNY 5,710,698.89 from CNY 11,736,535.37 year-on-year[3] - The net profit after deducting non-recurring gains and losses fell by 95.15% to CNY 477,906.51 from CNY 9,852,135.45 in the previous year[3] - Total operating revenue for Q1 2022 was CNY 371,697,391.48, a significant increase from CNY 180,572,044.65 in the same period last year, representing a growth of approximately 105.5%[21] - Net profit for Q1 2022 was CNY 5,609,591.19, down from CNY 11,702,136.55 in Q1 2021, reflecting a decrease of approximately 52.1%[22] - The company's total equity attributable to shareholders was CNY 1,684,198,515.96, slightly up from CNY 1,677,352,677.17 year-over-year, indicating a growth of approximately 0.16%[20] - The basic earnings per share for Q1 2022 were CNY 0.0033, down from CNY 0.0068 in the same period last year, reflecting a decrease of about 51.5%[23] Assets and Liabilities - The company's total assets increased by 14.60% to CNY 2,808,647,123.22 from CNY 2,450,762,071.17 at the end of the previous year[3] - The company reported a total liability of CNY 1,128,504,885.56, up from CNY 777,364,564.60 year-over-year, which is an increase of about 45%[20] - The total liabilities and equity of the company reached CNY 2,808,647,123.22, compared to CNY 2,450,762,071.17 in the previous year, representing an increase of approximately 14.6%[20] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -90,928,092.68, worsening by 142.88% compared to CNY -37,437,895.06 in the same period last year[3] - Cash inflow from operating activities included CNY 457,169,542.80 from sales of goods and services[24] - The net cash flow from operating activities was -90,928,092.68 CNY, compared to -37,437,895.06 CNY in the same period last year, indicating a decline of approximately 142.5% year-over-year[26] - Total cash outflow from operating activities reached 679,736,597.37 CNY, significantly higher than 281,928,576.77 CNY in the previous year, representing an increase of about 141.1%[26] - Cash inflow from financing activities was 40,970,000.00 CNY, down from 66,967,000.00 CNY in the previous year, a decrease of approximately 38.8%[26] - The net cash flow from financing activities was -7,362,944.60 CNY, compared to -1,432,058.91 CNY in the same period last year, indicating a decline of about 414.5%[26] - The ending balance of cash and cash equivalents was 59,943,611.45 CNY, down from 281,464,559.74 CNY in the previous year, a decrease of approximately 78.7%[26] Expenses - Management expenses increased by 54.96% to CNY 32,445,090.56, driven by an expanded workforce and salary adjustments[7] - Financial expenses increased by 218.35% to CNY 4,548,298.43, mainly due to higher interest costs from increased loan amounts[7] - Research and development expenses for Q1 2022 were CNY 11,160,349.95, compared to CNY 8,227,424.81 in the previous year, marking an increase of about 35.5%[21] - The company paid 54,332,721.93 CNY in employee compensation, an increase from 41,755,167.98 CNY year-over-year, reflecting a rise of about 30%[26] - The total cash outflow for taxes paid was 6,381,897.59 CNY, compared to 5,107,904.36 CNY in the previous year, marking an increase of approximately 24.9%[26] - The company reported a significant increase in cash outflow related to other operating activities, which totaled 72,880,523.75 CNY, compared to 38,936,602.30 CNY last year, an increase of about 87%[26] Inventory and Contract Assets - The company's contract assets surged by 280.02% to CNY 448,245,869.54, primarily due to increased shipbuilding projects[6] - The company's inventory rose by 17.23% to CNY 229,604,719.95, attributed to materials and equipment purchases for shipbuilding projects[6] - The company has a significant increase in inventory, rising to CNY 229,604,719.95 from CNY 195,855,429.37, marking an increase of approximately 17%[18] - The company reported a significant increase in contract liabilities by 281.18% to CNY 483,533,985.90, reflecting higher advance payments received for shipbuilding projects[6] Other Information - The company received its first payment of USD 40 million on April 19, 2022, related to the settlement of outstanding amounts[15] - The company has a total of 296,859,062 restricted shares, with no new restrictions added during the reporting period[12] - The company is in the process of settling outstanding payments for two vessels, with an estimated completion date by the end of June 2022[14] - The company plans to continue covering the monthly rental payments for the two vessels until the transaction is completed[14] - The company has a long-term investment of CNY 43,071,280.05, which increased from CNY 38,271,280.05 at the beginning of the year[18]

Financial Performance - The company's operating revenue for 2021 was ¥1,421,746,409.51, representing a 171.56% increase compared to ¥523,552,744.58 in 2020[21]. - The net profit attributable to shareholders for 2021 was ¥25,970,776.33, a slight increase of 1.62% from ¥25,557,506.83 in 2020[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥15,399,264.73, up 182.09% from ¥5,458,962.49 in 2020[21]. - The total assets at the end of 2021 amounted to ¥2,450,762,071.17, a 20.19% increase from ¥2,038,996,381.88 at the end of 2020[21]. - The net assets attributable to shareholders at the end of 2021 were ¥1,677,352,677.17, reflecting a 1.73% increase from ¥1,648,832,566.34 at the end of 2020[21]. - The basic earnings per share for 2021 were ¥0.0150, down 43.18% from ¥0.0264 in 2020[21]. - The weighted average return on equity for 2021 was 1.56%, a decrease of 4.40% from 5.96% in 2020[21]. - The net cash flow from operating activities for 2021 was -¥185,016,783.52, worsening by 43.95% compared to -¥128,531,902.11 in 2020[21]. - The company reported a total revenue of ¥561,886,449.87 in Q4 2021, which was the highest quarterly revenue for the year[23]. - The company experienced a net loss of ¥12,119,869.30 in Q3 2021, indicating challenges in maintaining profitability during that period[23]. Market Position and Growth Strategy - The company has a robust order backlog, primarily consisting of bulk carriers, multipurpose vessels, and offshore wind installation platforms, positioning it well for future growth[7]. - The company plans to enhance its research and development efforts across its three main business segments to improve core competitiveness and ensure stable growth[8]. - The company is focused on promoting and utilizing new energy vessels, with its subsidiary Dajin Heavy Industry recognized as a demonstration unit for LNG-powered vessels by the Ministry of Transport[7]. - The international shipbuilding market is experiencing a recovery, but external factors such as geopolitical tensions and rising costs present challenges to sustained business expansion[7]. - The company is actively adjusting its product structure and pursuing technological innovation to respond to cyclical changes in the international shipbuilding market[6]. - The company has established an "one headquarters, three platforms" development framework to support future business expansion[62]. - The company aims to improve operational efficiency and increase profitability through strategic initiatives and potential mergers and acquisitions[1]. - The company plans to enhance production capacity and market share through the establishment of new facilities, such as Taizhou Taichuan Heavy Industry Equipment Co., Ltd.[109]. Research and Development - The company has accumulated significant technology and experience in LNG transportation vessels and related systems, establishing a leading position in regional energy enterprises[35]. - The company has developed a comprehensive technology service system in shipbuilding and marine engineering, delivering over 1,000 vessels and holding numerous design copyrights and patents[39]. - The company has designed the world's first dual-fuel port operation tugboat and the first LNG-fueled port operation tugboat in Asia, contributing to clean port demonstration projects[40]. - The company completed the technical scheme for a hydrogen fuel cell-powered cargo ship, enhancing its capabilities in the new energy ship sector[87]. - The company has focused on developing large-scale offshore oil spill recovery vessels to meet emergency response requirements[88]. - The company has reported a significant increase in R&D expenses, totaling ¥63,253,850.03, which is a 76.03% increase compared to the previous year[86]. - R&D investment reached ¥63,253,850.03 in 2021, a significant increase from ¥35,934,317.68 in 2020[91]. - The company increased its R&D personnel from 175 in 2020 to 245 in 2021, representing a 40% growth[90]. Risk Management and Challenges - The company faces risks from rising raw material prices and labor costs, which may impact operational performance; it aims to control costs while maintaining project progress[7]. - The company is committed to enhancing contract management and monitoring to mitigate risks associated with customer defaults due to financial difficulties[6]. - The shipbuilding industry is facing challenges such as labor shortages and rising material costs, which may impact future growth[32]. - The company has a strategic focus on risk control, talent development, and cost reduction to ensure healthy and efficient operations[109]. Corporate Governance and Compliance - The company maintained a strict internal audit system, with no objections raised by the accounting firm regarding the effectiveness of internal controls in 2021[121]. - The company ensures compliance with laws and regulations, maintaining independence from its controlling shareholders in business, personnel, assets, and finances[123]. - The company has committed to further optimizing and improving its internal control system in the future[121]. - The company’s governance structure aligns with the regulations set forth by the China Securities Regulatory Commission, with no significant discrepancies[122]. - The company emphasizes transparency in information disclosure, ensuring that all shareholders have equal access to information through designated media[121]. Strategic Partnerships and Collaborations - The company has entered into a partnership with Nanhua Industrial to expand into ship automation and smart port businesses, creating synergies with existing military products[7]. - The company has formed strategic partnerships with leading classification societies and equipment manufacturers to enhance technology and market reach[64]. - The company is actively pursuing partnerships and collaborations to enhance its service offerings and market reach[78]. Environmental and Social Responsibility - The company emphasizes environmental responsibility and has committed to green and energy-saving product goals through technological innovation[182]. - The company donated RMB 50,000 and teaching materials to a primary school in Guizhou to support education in remote areas[183]. Future Outlook - The company anticipates a positive outlook for the upcoming fiscal year, driven by increased demand in the marine engineering sector[77]. - The company provided a future outlook projecting a revenue growth of 10% for the next fiscal year, targeting 1.375 billion RMB[194]. - The company plans to expand its market presence in Southeast Asia, aiming for a 25% market share by 2025[196].

Acquisition and Business Development - The company acquired 100% equity of Taizhou Jinhai Marine Equipment Co., Ltd. in 2016 and Jiangsu Dajin Heavy Industry Co., Ltd. in 2017, establishing a full industry chain from R&D to manufacturing in the defense equipment sector[5]. - Jiangsu Dajin Heavy Industry Co., Ltd. serves as the main platform for the company's EPC business, which will be further integrated under the general contracting business structure[46]. - The company has developed a unique EPC business model, which has become its most important source of revenue[38]. - The company has actively expanded its traditional business into military-civilian integration and clean energy applications[39]. - The company has established a military-civilian integration business framework, covering six high-tech fields including defense vessels and special rescue equipment[57]. Financial Performance - The company's operating revenue for 2019 was ¥589,369,324.87, a decrease of 42.70% compared to ¥1,028,627,302.36 in 2018[28]. - The net profit attributable to shareholders was -¥358,271,940.85, an improvement of 80.93% from -¥1,878,411,487.24 in the previous year[28]. - The total assets at the end of 2019 were ¥2,024,537,949.15, down 14.20% from ¥2,359,709,293.05 in 2018[28]. - The net assets attributable to shareholders decreased by 46.27% to ¥404,298,197.16 from ¥752,405,066.75 in 2018[28]. - The company incurred financial expenses totaling ¥96.36 million, including unpaid amounts of ¥64.67 million due to overdue debts[80]. Research and Development - The company is actively enhancing R&D efforts in new energy and intelligent ships to improve its core competitiveness in the marine engineering and defense equipment sectors[6]. - The company has maintained a high level of R&D investment, with the number of R&D personnel increasing to 148, representing 19.73% of the total workforce[103]. - The company completed seven R&D projects focused on key technologies in marine engineering and smart ship applications during the reporting period[102]. - The company holds multiple national patents, including 45 invention patents and 201 utility model patents as of the report date[77]. Debt and Financial Risks - The company plans to introduce strategic investors and explore various channels to resolve its debt issues and restore normal operations[14]. - The company is facing risks of bankruptcy due to potential failure in restructuring efforts, which could lead to a court declaration of bankruptcy[12]. - The company has a high pledge rate of shares held by its actual controller, which poses a risk of change in control[11]. - The company reported non-operating fund occupation by major shareholders totaling 1,482.85 million RMB, with an additional 223.20 million RMB added during the reporting period[150]. Market Challenges - The Baltic Dry Index (BDI) remains low, indicating ongoing challenges in the international shipping market, which affects the company's marine engineering business[7]. - The company has faced challenges due to financial environment and debt factors, impacting various business segments[40]. - The company is undergoing a restructuring process, with a court announcement received on March 21, 2019, regarding the acceptance of the restructuring application[161]. Revenue Breakdown - The EPC revenue was ¥333.43 million, representing 56.57% of total revenue, with a year-over-year decrease of 45.49%[87]. - The clean energy business reported revenue of ¥115.47 million, a decline of 56.69% due to financial environment impacts and natural gas procurement prices[81]. - The defense equipment and related business saw revenue of ¥41.94 million, an increase of 44.98% influenced by changes in military procurement methods[81]. Legal and Compliance Issues - Tianhai Defense is involved in a lawsuit with China Great Wall Asset Management, with a total amount of 297 million yuan for principal and 7.95 million yuan for fund occupation fees[158]. - The company has signed a debt repayment agreement on December 20, 2019, to resolve outstanding obligations[160]. - The company has received a restructuring application due to its inability to repay due debts, with the Shanghai Third Intermediate People's Court accepting the application on February 14, 2020[156]. Shareholder Structure - The total number of shares is 960,016,100, with 37.24% being limited shares and 62.76% being unrestricted shares[193]. - The company has a total of 7 major shareholders, with the largest being Liu Nan, followed by Li Lu with 7.32% and Shenzhen Hongmaoseng with 4.95%[200]. - The number of shares held by shareholders with more than 5% ownership has increased, reflecting a consolidation of ownership[199]. - The company has not issued any new shares or conducted any share buybacks during the reporting period[198].

Business Directions and Focus - The company has established three main business directions: "Ship and Ocean Engineering," "Military-Civil Integration," and "New Energy Utilization" after its listing[6]. - In 2020, the company completed its bankruptcy reorganization, clarifying its focus on "Ship and Ocean Engineering," "Military Defense," and "New Energy" sectors[6]. - The company is focusing on expanding its business into military and new energy sectors while maintaining stability in its defense business[35]. - The company aims to adjust its industry and product structure to mitigate risks associated with the cyclical nature of the international shipping market[7]. - The company has established a comprehensive military-civilian integration business structure, covering six high-tech fields including defense vessels and special rescue equipment[49]. Financial Performance - The company's operating revenue for 2020 was approximately ¥523.55 million, a decrease of 11.17% compared to ¥589.37 million in 2019[26]. - The net profit attributable to shareholders was approximately ¥25.56 million, a significant increase of 107.13% from a loss of ¥358.27 million in 2019[26]. - The net cash flow from operating activities was negative at approximately ¥128.53 million, a decline of 620.93% compared to ¥24.67 million in 2019[26]. - The total assets at the end of 2020 were approximately ¥2.04 billion, reflecting a slight increase of 0.71% from ¥2.02 billion in 2019[26]. - The net assets attributable to shareholders increased by 307.83% to approximately ¥1.65 billion from ¥404.30 million in 2019[26]. Revenue Breakdown - Revenue from the shipbuilding and marine engineering segment was 45.83 million yuan, an increase of 1.39% year-on-year[74]. - Revenue from the EPC business was 332.26 million yuan, a decrease of 5.31% year-on-year due to previous order shortages[74]. - Revenue from defense equipment and products was 68.13 million yuan, a year-on-year increase of 2.56%[74]. - Revenue from the natural gas business was 64.30 million yuan, a significant year-on-year decrease of 44.32% due to funding and procurement price issues[74]. Cost Management and Risks - The company faces risks from rising raw material prices and labor costs, which may increase the cost of ongoing projects[12]. - The company will implement cost control measures to reduce the proportion of costs in relation to revenue[12]. - The gross profit margin for the manufacturing sector was 24.10%, down from 20.42% in the previous year, with costs rising by 24.40%[80]. - The energy business revenue saw a significant decline of 44.32%, dropping to ¥64.30 million, with a gross profit margin of only 2.78%[81]. Research and Development - The company is committed to developing new products and technologies to enhance its market position and competitiveness[7]. - Research and development expenses for the year were RMB 35.93 million, which is 6.86% of the total operating revenue, an increase from 5.80% in 2019[99]. - The company completed 10 R&D projects focusing on core technologies in marine engineering and intelligent technologies during the reporting period[98]. - The company has a strong technical research and design team, participating in national-level research projects and key engineering projects[45]. Restructuring and Governance - The company completed a restructuring in 2020, changing its controlling shareholder to Longhai Energy and improving its financial and governance structure[35]. - The company successfully completed its restructuring plan by December 31, 2020, as confirmed by the court ruling[163]. - The restructuring process alleviated the company's heavy debt burden and improved its financial condition, eliminating the risk of stock delisting[157]. - The company is under a restructuring process supervised by a management team, following a court ruling on February 14, 2020, which has raised concerns regarding its ability to continue as a going concern[155]. Market Position and Competitive Advantage - The company has established a strong competitive shipbuilding engineering EPC business model, which has become a significant revenue source[34]. - The company maintains a leading market position in the design of special engineering vessels, with an increasing proportion of high-end product orders[39]. - The company aims to enhance its capabilities in developing environmentally friendly and high-end special ship types, focusing on market opportunities in new energy and deep-sea equipment[115]. - The company is implementing a differentiated strategy to build unique competitive advantages in product technology and service experience[122]. Legal and Compliance Issues - The company has ongoing litigation related to a debt transfer dispute with a total claim amount of 29.7 million yuan[165]. - The company has received multiple court notifications regarding enforcement actions and arbitration decisions[166]. - The company has made commitments to avoid any illegal occupation of funds or assets, ensuring compliance with regulatory requirements[150]. - The company reported a total litigation amount of 297 million yuan, with no expected liabilities formed[165]. Future Outlook - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share over the next two years[145]. - The company aims to launch two new products in the defense sector by Q3 2021, which are anticipated to contribute an additional 200 million RMB in revenue[146]. - The company has set a performance guidance for 2021, aiming for a revenue growth of 15% and a net profit increase of 10%[144]. - The company is committed to reducing operational costs by 5% through efficiency improvements in production processes[142].

Acquisitions and Business Development - The company acquired 100% equity of Taizhou Jinhai Marine Equipment Co., Ltd. in 2016 and Jiangsu Dajin Heavy Industry Co., Ltd. in 2017, establishing a comprehensive industrial chain in shipbuilding and defense equipment manufacturing [5]. - The company has not made any significant acquisitions or expansions reported in the financial statements for 2018 [26]. - The company plans to leverage domestic and international resources to create value for customers in the military auxiliary ship market, providing design, management consulting, and technical contracting services [124]. - The company aims to explore shareholding reform and introduce strategic investors to ensure sustainable development in viable business segments [123]. - The company is actively pursuing market opportunities in LNG applications, aiming for a 15% adoption rate in new public vessels by 2025 [122]. Financial Performance - The company's operating revenue for 2018 was ¥1,028,627,302.36, a decrease of 30.68% compared to ¥1,483,928,878.18 in 2017 [26]. - The net profit attributable to shareholders for 2018 was -¥1,878,411,487.24, representing a decline of 1,244.40% from ¥164,139,051.09 in 2017 [26]. - The total assets at the end of 2018 were ¥2,359,709,293.05, a decrease of 46.85% from ¥4,439,882,424.95 at the end of 2017 [26]. - The basic earnings per share for 2018 was -¥1.9566, a decline of 1,244.21% from ¥0.1710 in 2017 [26]. - The company reported a significant decline in performance due to tight cash flow, resulting in substantial goodwill impairment and asset impairment provisions [33]. Cash Flow and Liquidity - The company is experiencing cash flow pressures, leading to potential talent loss, particularly in core technology teams, which could impact product development and innovation capabilities [10]. - The net cash flow from operating activities improved by 84.05%, reaching -¥19,996,367.48 in 2018 compared to -¥125,373,123.94 in 2017 [26]. - Operating cash inflow decreased by 25.18% to ¥1,615,687,377.54 in 2018, while operating cash outflow decreased by 28.41% to ¥1,635,683,745.02 [103]. - The company has faced challenges in the clean energy business due to tight cash flow from end-users and difficulties in securing low-priced gas sources [69]. Risks and Challenges - The company faces significant accounts receivable and advance payment risks due to its development of EPC business and inventory disposal, necessitating strict credit assessments of partners [8]. - The company has received a reorganization application from creditors, indicating a risk of bankruptcy if the reorganization fails, which could lead to stock delisting [12]. - The actual controller of the company has attempted three times to transfer control in 2018, but these efforts have not succeeded, raising concerns about potential changes in control [11]. - The company incurred an asset impairment loss of ¥1,816,845,229.46, which constituted 96.92% of the total profit loss, primarily due to goodwill impairment [105]. Research and Development - The company has established 15 R&D projects focusing on core technologies in marine engineering and digital transformation [70]. - The company’s R&D expenditure reached ¥52,437,871.57 in 2018, representing 5.10% of total revenue, a significant increase from 2.76% in 2017 [101]. - The company has developed a range of new vessel types, including a new semi-submersible yacht transport vessel and a new multi-purpose cargo ship, with design orders anticipated in 2019 [45]. - The company has a robust supplier evaluation process to ensure the quality of materials and components used in production [36]. Market and Industry Trends - The Baltic Dry Index (BDI) remains low, indicating ongoing challenges in the international shipping market, which affects the company's shipbuilding and marine engineering business [7]. - In 2018, the national shipbuilding industry completed 34.58 million deadweight tons, a year-on-year decrease of 14%, while new ship orders increased by 8.7% to 36.67 million deadweight tons [118]. - The company is focusing on the development of environmentally friendly and high-end special ship types, particularly in clean energy applications and deep-sea engineering equipment [119]. Corporate Governance and Shareholder Relations - The company is actively enhancing investor relations through increased transparency and communication channels [74]. - The company has not proposed any cash dividend distribution plan for the reporting period, despite having positive distributable profits for ordinary shareholders [132]. - The company has a history of not distributing cash dividends in recent years, with the last cash dividend being distributed in 2017, amounting to RMB 17,280,291.33, which was 10.53% of the net profit attributable to ordinary shareholders [132]. - The company has not engaged in any investor relations activities during the reporting period [126]. Strategic Initiatives - The company aims to become a pioneer in the defense equipment market, focusing on military-civilian integration strategies amid a growing defense budget and a shift towards naval and air force equipment development [116]. - The company will strengthen its research capabilities and enhance project development to improve overall research levels [123]. - The company plans to enhance internal management and external market expansion, focusing on strategic military-civilian integration and investment management platform development [123].

Financial Performance - The company's revenue for Q1 2023 reached ¥658,449,747.33, representing a 77.15% increase compared to ¥371,697,391.48 in the same period last year[5] - Net profit attributable to shareholders was ¥9,115,938.05, up 59.63% from ¥5,710,698.89 year-on-year[5] - The net profit excluding non-recurring gains and losses surged to ¥8,699,070.78, a significant increase of 1,720.25% from ¥477,906.50 in the previous year[5] - Operating profit for the current period was ¥14,052,499.80, compared to ¥5,684,282.98 in the previous period, indicating an increase of about 147.0%[21] - Net profit for the current period was ¥9,530,811.68, up from ¥5,609,591.19 in the previous period, reflecting an increase of approximately 69.5%[21] - The company reported a total comprehensive income of ¥9,636,619.77 for the current period, compared to ¥6,627,091.19 in the previous period, an increase of about 45.3%[21] - The basic and diluted earnings per share for the current period were both ¥0.0053, compared to ¥0.0033 in the previous period, reflecting an increase of approximately 60.6%[21] Cash Flow and Investments - The net cash flow from operating activities improved to ¥81,353,677.26, a turnaround from a negative cash flow of ¥90,928,092.68 in the same quarter last year, marking a 189.47% increase[5] - Cash flow from operating activities generated a net amount of ¥81,353,677.26, a turnaround from a negative cash flow of ¥90,928,092.68 in the previous period[23] - Cash and cash equivalents at the end of the period totaled ¥284,641,550.11, compared to ¥59,943,611.45 at the end of the previous period, marking an increase of approximately 373.5%[24] - The company recorded a net cash outflow from investing activities of ¥63,167,010.02, compared to a net outflow of ¥14,778,495.14 in the previous period[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,022,177,519.05, reflecting a 6.92% increase from ¥3,761,721,398.87 at the end of the previous year[5] - The company's current assets reached CNY 2,678,465,493.53, up from CNY 2,513,954,647.54, indicating an increase of about 6.54%[15] - The total liabilities increased to CNY 2,177,667,152.59 from CNY 1,978,386,406.07, reflecting a rise of approximately 10.06%[18] - The company's cash and cash equivalents stood at CNY 624,267,874.00, compared to CNY 599,627,596.18 at the beginning of the year, showing an increase of about 4.45%[15] - Accounts receivable rose to CNY 222,666,829.31 from CNY 206,053,602.00, marking an increase of approximately 8.11%[15] - The company's inventory decreased to CNY 272,737,548.09 from CNY 316,136,169.53, a decline of about 13.73%[15] - The total equity attributable to the parent company increased to CNY 1,835,476,016.41 from CNY 1,776,315,516.38, representing a growth of approximately 3.32%[18] - The company's long-term equity investments rose to CNY 112,356,534.36 from CNY 95,972,681.31, indicating an increase of about 17.00%[15] - The short-term borrowings increased to CNY 221,093,426.06 from CNY 200,757,899.08, reflecting a rise of approximately 10.16%[17] - The company's contract liabilities increased to CNY 639,589,437.35 from CNY 495,956,915.75, showing a significant increase of about 28.93%[17] Research and Development - The company’s R&D expenses decreased by 16.87% to ¥927.75 from ¥1,116.03 in the previous period[9] - Research and development expenses for the current period were ¥9,277,542.80, down from ¥11,160,349.95 in the previous period, a decrease of about 16.9%[19] Operating Costs - The gross profit margin improved due to increased revenue from shipbuilding projects, with operating income rising significantly alongside a 70.95% increase in operating costs[9] - Total operating costs for the current period were ¥660,409,539.60, compared to ¥401,578,391.07 in the previous period, an increase of approximately 64.3%[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 100,436, with no preferred shareholders[11] - The company’s weighted average return on equity was 0.50%, up from 0.34% in the previous year[5]

Financial Performance - The company's revenue for Q3 2022 reached ¥869,173,805.41, representing a 214.64% increase year-over-year[5] - Net profit attributable to shareholders was ¥41,479,038.37, a significant increase of 442.24% compared to the same period last year[5] - The basic earnings per share for the period was ¥0.0240, reflecting a 442.91% increase year-over-year[5] - Operating income for the year-to-date was ¥1,887,158,415.55, a 119.47% increase, benefiting from improved market conditions[10] - Total operating revenue for the third quarter reached ¥1,887,158,415.55, a significant increase from ¥859,859,959.64 in the same period last year, representing a growth of approximately 119%[25] - The net profit for Q3 2022 was CNY 83,526,959.31, a significant increase from CNY 20,146,401.71 in Q3 2021, representing a growth of approximately 314%[26] - The total operating profit for Q3 2022 was CNY 90,119,918.05, significantly higher than CNY 22,402,706.08 in Q3 2021, indicating a growth of about 302%[26] - The company reported a total comprehensive income of CNY 91,239,153.22 for Q3 2022, compared to CNY 20,146,401.71 in Q3 2021, marking an increase of around 353%[27] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥3,476,799,043.31, up 41.87% from the end of the previous year[5] - Total liabilities increased to ¥1,762,079,261.91 from ¥777,364,564.60, indicating a rise of approximately 127%[24] - Cash and cash equivalents increased to ¥607,532,275.16 from ¥399,663,912.97, reflecting a growth of approximately 52%[22] - Accounts receivable rose to ¥358,813,910.95, up from ¥281,563,769.30, marking an increase of around 27%[22] - Inventory levels surged to ¥462,600,450.50, compared to ¥195,855,429.37, which is an increase of approximately 136%[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 107,283[13] - The top shareholder, Xiamen Longhai Heavy Energy Investment Partnership, holds 12.50% of shares, totaling 216,000,000 shares[13] - Liu Nan, a natural person, holds 8.34% of shares, totaling 144,196,453 shares, with significant pledged and frozen shares[13] - The company plans to repurchase shares at a price not exceeding RMB 6.02 per share, with a total repurchase amount between RMB 50 million and RMB 100 million[15] - As of September 14, 2022, the company has repurchased 11,450,400 shares, accounting for 0.66% of total share capital, with a total expenditure of RMB 50,120,263[16] Strategic Initiatives - The company has been recognized as a national "specialized, refined, characteristic, and innovative" small giant enterprise[14] - The company signed a strategic cooperation intention with Shanghai Port Group for low-carbon intelligent shipping technology development[17] - The company plans to issue shares to specific objects, with a total fundraising amount not exceeding RMB 800 million[19] - The issuance will include a maximum of 518,408,739 shares, representing up to 30% of the total share capital before issuance[18] Regulatory and Compliance - The company is under investigation by the China Securities Regulatory Commission for suspected violations of securities laws[20] Expenses and Cash Flow - Total operating costs amounted to ¥1,868,196,891.92, compared to ¥885,875,853.81 in the previous year, indicating a rise of about 111%[25] - Research and development expenses for the quarter were ¥46,400,061.64, slightly up from ¥43,868,586.32 year-over-year[25] - The cash flow from operating activities showed a net inflow of CNY 43,630,060.94, a turnaround from a net outflow of CNY 182,008,980.17 in the previous year[28] - Investment activities resulted in a net cash outflow of CNY 27,738,132.37, an improvement from a net outflow of CNY 32,549,554.77 in the same period last year[29] - The cash and cash equivalents at the end of the period were CNY 179,931,115.24, up from CNY 160,821,353.50 at the end of Q3 2021[29] Financial Improvements - The company reported a financial expense reduction of 432.87% due to the appreciation of the US dollar[10] - The company recorded a profit before tax of CNY 91,203,026.33, compared to CNY 21,211,323.64 in the previous year, representing an increase of approximately 330%[26]

Acquisitions and Investments - The company acquired 100% equity of Jin Haiyun in 2016 and 100% equity of Dajin Heavy Industry in 2017, enhancing its R&D, design, and manufacturing capabilities in defense equipment[6]. - The company acquired 100% equity of Jiangsu Dajin Heavy Industry Co., Ltd. on December 28, 2017, which was included in the consolidated financial statements[29]. - The company completed the acquisition of Dazhong Heavy Industry in December 2017, enhancing its capabilities in marine engineering and clean energy[76]. - A strategic acquisition of a local competitor is planned, which is anticipated to increase the company's production capacity by 30%[64]. - A strategic acquisition of a smaller competitor was completed, expected to enhance the company's technological capabilities and product offerings[66]. - The company acquired 37% of Jiangsu Dajin Green Energy Equipment Co., Ltd. for 37 million yuan on January 15, 2017, increasing its total stake to 70%[190]. Financial Performance - The company's operating revenue for 2017 was CNY 1,422,485,630.3, a decrease of 6.29% compared to CNY 1,517,999,954.4 in 2016[24]. - The net profit attributable to shareholders for 2017 was CNY 124,674,663.78, representing a decline of 23.20% from CNY 162,333,097.69 in 2016[24]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the year, representing a growth of 20% compared to the previous year[154]. - The company reported a total revenue of RMB 590,839,151, with a net profit of RMB 140,156,141, indicating a significant performance in the fiscal year[130]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% driven by new product launches and market expansion strategies[156]. Cash Flow and Assets - The company reported a net cash flow from operating activities of CNY -125,373,123.9 in 2017, a 55.24% improvement from CNY -280,078,311.4 in 2016[25]. - The total assets at the end of 2017 were CNY 4,439,882,424.9, a decrease of 2.59% from CNY 4,557,747,575.6 at the end of 2016[25]. - The company’s total investment in 2017 was ¥805,509,060.00, a decrease of 46.37% compared to the previous year[113]. - The net increase in cash and cash equivalents was -¥274,408,516.54, reflecting a 190.78% decline compared to the previous year[106]. Research and Development - The company has developed a range of high-performance polymer products and marine equipment, widely used in maritime rescue and military applications[38]. - The company has filed multiple patents, including a practical new type of marine platform pile driving system (patent number: 201721255591.2) on September 27, 2017[67]. - The company maintained a high level of R&D investment, achieving several project approvals and recognitions from local authorities[77]. - The number of R&D personnel increased to 119 in 2017, accounting for 10.49% of the total workforce, up from 9.55% in 2016[105]. - Investment in R&D increased by 30%, focusing on advanced defense technologies and innovative equipment solutions[157]. Market and Product Development - The company is actively expanding its market presence in deep-sea engineering projects, with an increasing proportion of high-end products[46]. - The company aims to launch three new products in the next quarter, focusing on advanced marine technology solutions[65]. - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[65]. - New product development includes the launch of a dual-fuel tugboat in collaboration with CNOOC, expected to enhance operational efficiency[64]. Risk Management and Compliance - The company reported a significant risk related to accounts receivable and advances, with a large amount due to the development of EPC business and inventory disposal, which may not be recoverable in a timely manner[7]. - The company will enhance its risk management framework by establishing a legal risk control system to safeguard its transformation and development[136]. - The company has committed to ensuring that no related party transactions will harm the legitimate rights and interests of other shareholders[150]. Dividends and Shareholder Relations - The company plans to distribute a cash dividend of 0.18 RMB per 10 shares (including tax) to all shareholders, based on a total of 960,016,185 shares[10]. - The cash dividend distribution plan for 2017 is set at RMB 0.18 per 10 shares, totaling RMB 17,280,291.33 in cash dividends[142]. - The company has not proposed any cash dividend distribution plan for ordinary shareholders despite having a positive profit available for distribution[145]. Environmental and Clean Energy Initiatives - The company is committed to promoting LNG-powered vessels and expanding its overseas energy business in alignment with national strategies[138]. - The clean energy business has seen significant revenue growth compared to the previous year, driven by government efforts to address air pollution and adjust energy structures[55]. - The company aims to enhance its clean energy business by accelerating the deployment of gas stations and distributed energy in the Yangtze River Delta region[138]. Legal and Regulatory Matters - The company is involved in a lawsuit with a claim amount of 564.06 million, which has been recognized as a liability[171]. - The company has no violations regarding external guarantees during the reporting period[199]. - The company has acknowledged the existence of non-operating fund occupation by controlling shareholders and their affiliates[164].

Industry Overview - The shipbuilding industry in China remains the largest globally, with a positive long-term outlook for new shipbuilding markets despite short-term volatility risks [4]. - The global shipbuilding industry is facing challenges such as labor shortages and rising costs, which may impact future profitability [41]. - The defense spending in China is projected to grow by 7.2% in 2023, reaching CNY 1.58 trillion, which may benefit the defense equipment sector [41]. Business Segments and Operations - The company has three main business segments: marine engineering, defense equipment, and energy, and is enhancing R&D and marketing efforts to ensure stable growth [9]. - The company is positioned as a comprehensive solution provider in ship design and construction, with a focus on advanced R&D and manufacturing [47]. - The company is actively exploring the application of new energy sources such as methanol, ammonia, hydrogen, and batteries in the shipping sector [44]. - The company is involved in the construction of multiple offshore wind power installation platforms, which aligns with national policies promoting green energy development [46]. Financial Performance - The company's operating revenue for 2022 was CNY 2,754,612,800, representing a 93.75% increase compared to CNY 1,421,746,400 in 2021 [28]. - Net profit attributable to shareholders for 2022 was CNY 140,910,363, a significant increase of 442.57% from CNY 25,970,776.3 in 2021 [28]. - The net profit after deducting non-recurring gains and losses reached CNY 122,100,445, up 692.90% from CNY 15,399,264.7 in 2021 [28]. - The net cash flow from operating activities was CNY 343,004,740, a 285.39% increase from CNY 185,016,783 in 2021 [28]. - Basic and diluted earnings per share for 2022 were both CNY 0.0815, reflecting a 443.33% increase from CNY 0.0150 in 2021 [28]. - Total assets at the end of 2022 amounted to CNY 3,761,721,390, a 53.49% increase from CNY 2,450,762,070 at the end of 2021 [28]. Risk Management - The company faces significant foreign exchange risks due to fluctuations in currencies such as USD and EUR, particularly affecting export ship orders [5]. - Customer default risks are heightened due to macroeconomic uncertainties, leading to potential delays in payments and contract modifications [7]. - The company plans to implement cost control measures to mitigate the impact of rising raw material and labor costs on its long construction cycles [8]. Research and Development - The company has over 200 technology patents and has been recognized as a "specialized, refined, distinctive, and innovative" enterprise by the state [63]. - The company is investing in natural gas technology, accumulating experience in LNG transport vessels and fueling facilities, with a focus on key equipment and system integration [58]. - The company is developing an intelligent rescue unmanned boat, with the design and testing of the prototype completed, aiming to enhance emergency rescue capabilities [90]. Corporate Governance - The company emphasizes transparency in information disclosure, adhering to legal requirements and ensuring timely and accurate communication with investors [132]. - The company has a robust internal control system in place, continuously improving governance to achieve operational goals [133]. - The company held 9 board meetings during the reporting period, ensuring efficient communication and decision-making among directors [128]. Strategic Initiatives - The company is actively pursuing acquisitions, including a recent acquisition of a 100% stake in a ship leasing company for ¥1,230,000,000 [103]. - The company plans to enhance its market presence through strategic investments in new technologies and product development [103]. - The company has outlined future growth strategies that include market expansion and potential mergers and acquisitions [103]. Employee Engagement and Development - The company maintains a salary policy aligned with job value, providing various employee benefits to attract and retain talent [171]. - The company has established a training system to enhance employee skills through both offline and online platforms [172]. - The total number of employees at the end of the reporting period was 1,311, with 123 in the parent company and 1,188 in major subsidiaries [169]. Environmental Commitment - The company established a distributed photovoltaic power station with a capacity of 2.58MWp, expected to generate 2.63 million KWh in the first year and reduce CO2 emissions by 2,500 tons over its operational period [190]. - The company is committed to improving the application of intelligent information technology in shipbuilding, aiming for enhanced operational efficiency [116]. Market Expansion - The company is considering strategic acquisitions to enhance its market position, with a budget of 500 million yuan allocated for potential deals [143]. - Market expansion plans include entering three new international markets by the end of the year [143]. - The company has set a performance guidance of 15% revenue growth for the upcoming fiscal year, driven by new contracts and market opportunities [80].

关于举行2022年年度网上业绩说明会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 证券代码：300008 证券简称：天海防务 公告编号：2023-021 天海融合防务装备技术股份有限公司 天海融合防务装备技术股份有限公司 董事会 天海融合防务装备技术股份有限公司（以下简称"公司"）已于 2023 年 4 月 22 日在巨潮 资讯网（http://www.cninfo.com.cn/）上披露了《2022 年年度报告》及《2022 年年度报告摘要》。 为便于广大投资者进一步了解公司 2022 年年度经营情况，公司定于 2023 年 5 月 10 日（星期 三）下午 15:00-17:00 举行 2022 年度网上业绩说明会。本次网上业绩说明会将采用网络远程的 方式举行，投资者可登陆"互动易"平台（http://irm.cninfo.com.cn），进入"云访谈"栏目参 与本次业绩说明会。 二〇二三年四月二十二日 出席本次网上说明会的人员有：董事长何旭东先生，董事兼总经理占金锋先生，董事兼董 事会秘书董文婕女士，财务总监张晓燕女士，独立董事方先丽女士，如有 ...