证券代码：300008 证券简称：天海防务 天海融合防务装备技术股份有限公司 投资者关系活动记录表 编号：2018-001 | --- | --- | --- | |-----------------------------|-------------------------------|------------------------------------| | | | | | 投资者关系活动 | □ 特定对象调研 | □ 分析师会议 | | 类别 | □ 媒体采访 | ■ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名称及 | 部分投资者 | | | 人员姓名 | | | | 时间 | 2018 年 04 月 27 日 | 15：00-17 ： 00 | | 地点 | 全景·路演天下 | | | 上市公司接待人 员姓名 | 刘楠、胡毓、白雪华、秦正余 | | | | 主要针对公司 2017 | 年年度报告举办的网上业绩说明会，期 | | 投资者关系活动 主要内容介绍 | 间回答了投资者的若干 ...

Financial Performance - The company's revenue for Q3 2022 reached ¥869,173,805.41, representing a 214.64% increase year-over-year[7]. - Net profit attributable to shareholders was ¥41,479,038.37, a significant increase of 442.24% compared to the same period last year[7]. - The net profit after deducting non-recurring gains and losses was ¥23,418,310.36, up 270.53% year-over-year[7]. - The total operating income for the year-to-date reached ¥1,887,158,415.55, a 119.47% increase compared to the previous year[12]. - Operating profit for the current period was ¥90,119,918.05, a substantial rise from ¥22,402,706.08 in the previous period, reflecting an increase of approximately 302%[36]. - Net profit for the current period reached ¥83,526,959.31, compared to ¥20,146,401.71 in the prior period, marking an increase of around 314%[36]. - The company recorded a total profit of ¥91,203,026.33, significantly higher than ¥21,211,323.64 in the previous period, representing an increase of approximately 330%[36]. - The company's tax expenses for the current period were ¥7,676,067.02, compared to ¥1,064,921.93 in the previous period, reflecting an increase of approximately 620%[36]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥3,476,799,043.31, reflecting a 41.87% increase from the end of the previous year[7]. - The company's current assets totaled approximately CNY 2.60 billion as of September 30, 2022, compared to CNY 1.27 billion at the beginning of the year, indicating a 104% increase[26]. - Total liabilities increased to approximately CNY 1.76 billion from CNY 777.36 million, representing a growth of 127%[32]. - The company's equity attributable to shareholders amounted to approximately CNY 1.72 billion, compared to CNY 1.68 billion, showing an increase of 2%[32]. Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥43,630,060.94, showing a 123.97% increase compared to the same period last year[7]. - Cash flow from operating activities was ¥43,630,060.94, a turnaround from a negative cash flow of -¥182,008,980.17 in the prior period[40]. - Total cash inflow from operating activities was ¥3,917,392,318.95, compared to ¥1,157,810,806.75 in the previous period, showing an increase of about 238%[40]. - The net increase in cash and cash equivalents was 6,917,971.37, contrasting with a decrease of -159,278,726.09 in the previous period[42]. - The ending balance of cash and cash equivalents was 179,931,115.24, compared to 160,821,353.50 in the previous period[42]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 107,283[16]. - The company plans to repurchase shares with a total amount between RMB 50 million and RMB 100 million, with a maximum price of RMB 6.02 per share[20]. - As of September 14, 2022, the company has repurchased 11,450,400 shares, accounting for 0.66% of the total share capital, with a total payment of RMB 50,120,263[20]. - The controlling shareholder, Longhai Energy, intends to subscribe for at least 12.50% of the total shares issued in the private placement[22]. - The company has a major shareholder, Xiamen Longhai Energy Investment Partnership, holding 12.50% of the shares[16]. - The company has a total of 144,196,453 shares held by Liu Nan, accounting for 8.34% of the shares[16]. Strategic Initiatives - The company signed a strategic cooperation intention letter with Shanghai Port Group for smart low-carbon shipping technology development[21]. - The company plans to issue shares to specific objects, with a total fundraising amount not exceeding RMB 800 million[24]. - The number of shares to be issued will not exceed 30% of the total share capital before the issuance, which is 518,408,739 shares[22]. Regulatory and Market Position - The company has received multiple administrative penalties from the China Securities Regulatory Commission, indicating ongoing regulatory scrutiny[25]. - The company has been recognized as a national "specialized, refined, characteristic, and innovative" small giant enterprise[19]. - The company is focusing on expanding its market presence and enhancing its product offerings, although specific new products or technologies were not detailed in the report[29]. Inventory and Contractual Obligations - The company reported a significant increase in contract assets, which rose by 419.91% to ¥613,247,297.45 due to increased shipbuilding projects[12]. - The company's inventory increased by 136.19% to ¥462,600,450.50, attributed to materials and equipment procurement for shipbuilding projects[12]. - The company experienced a 272.39% increase in contract liabilities, totaling ¥472,378,034.05, due to increased advance payments for shipbuilding projects[12]. Audit Status - The report for the third quarter was not audited, as stated in the company’s announcement[44].

Business Performance - The company's operating revenue for the reporting period was CNY 1,017,984,610.14, representing a year-on-year increase of 74.43%[40]. - The net profit attributable to shareholders of the listed company was CNY 40,010,732.96, an increase of 26.84% compared to the same period last year[40]. - The net profit after deducting non-recurring gains and losses was CNY 34,652,364.14, reflecting a growth of 23.90% year-on-year[40]. - The net cash flow from operating activities was CNY 346,977,075.65, a significant increase of 330.98% compared to the previous year[40]. - The total assets at the end of the reporting period amounted to CNY 3,179,313,456.67, up 29.73% from the end of the previous year[40]. - The net assets attributable to shareholders of the listed company were CNY 1,725,177,960.04, showing a slight increase of 2.85% compared to the previous year[40]. - The basic earnings per share were CNY 0.0232, which is a 26.78% increase from CNY 0.0183 in the same period last year[40]. Market and Business Strategy - In the first half of 2022, the company significantly increased its new order volume, focusing on offshore wind installation platforms, transport vessels, and marine engineering ships, capitalizing on the recovery of the international ship market[13]. - The company is actively adjusting its product structure and expanding its marine engineering business to mitigate risks associated with the cyclical nature of the international shipbuilding market[7]. - The company plans to enhance its research and development efforts across its three main business segments: marine engineering, defense equipment, and new energy, to improve core competitiveness and ensure stable growth[16]. - The company is pursuing strategic partnerships, such as its stake in Shan Jiao Tian Hai, to expand its energy trading business[13]. - The overall external environment for the company's development is improving, driven by the recovery of the international ship market and new requirements for national defense equipment[13]. Cost and Risk Management - The company reported that the domestic steel and raw material prices remain unstable, which, along with rising labor costs, is expected to impact the cost of ongoing projects[12]. - The company is focusing on cost control measures to reduce the impact of rising costs on its financial performance[12]. - The company is facing customer default risks due to global uncertainties, including the COVID-19 pandemic and geopolitical conflicts, and is enhancing contract management to mitigate these risks[11]. - The company emphasizes the importance of risk prevention strategies related to exchange rate fluctuations, particularly for export orders denominated in USD and EUR[8]. Research and Development - The company has a dedicated technical R&D team that collaborates with international partners for high-end projects, integrating mature foreign technologies with its engineering experience[55]. - The company has over 200 technology patents and has been recognized as a high-tech enterprise in Shanghai, with its ship design services awarded the "Shanghai Brand" certification[68]. - Research and development investment decreased by 6.11% to ¥30,361,083.80 from ¥32,335,790.08, indicating a slight reduction in R&D spending[78]. - The company is currently developing new defense products, which are in the research and development stage, and expects to generate orders in the future[82]. Defense Equipment - The defense equipment business includes the design and assembly of military auxiliary vessels and special defense equipment, with a focus on rescue and underwater security[59]. - The company aims to expand its military-civilian integration business, supported by a complete set of qualifications and a robust product structure[59]. - The company secured new orders in defense equipment, including products for maritime police ship repair, land rescue, and underwater security, such as towing ropes and diving equipment[60]. - The company has established a comprehensive military qualification system, enhancing its competitive edge in defense equipment and related fields[73]. Environmental and Social Responsibility - The company emphasized its commitment to environmental responsibility, stating that it does not belong to key pollutant discharge units and has not faced any administrative penalties for environmental issues during the reporting period[113]. - The company has implemented a training system for employees, focusing on both internal and external training to enhance employee skills and career development[119]. Financial Management and Compliance - The company will not distribute cash dividends, issue bonus shares, or convert reserves into share capital for the current period[17]. - The company has committed to avoiding direct or indirect competition with its controlled enterprises, ensuring compliance with industry competition regulations[122]. - The company has not disclosed any new product or technology developments in the reporting period, indicating a potential area for future growth[120]. - The company is actively working on compliance and transparency improvements following the regulatory scrutiny[179]. Legal Matters - The company is involved in ongoing litigation with various parties, with amounts in dispute totaling approximately 2,085,000 yuan and 934,260 yuan[159][162]. - The company has successfully defended against claims in multiple cases, resulting in favorable judgments[165][168]. - The company faced administrative penalties from the China Securities Regulatory Commission for false records in the 2017 annual report, resulting in a fine of 400,000 yuan[175]. - The company has initiated corrective measures following the administrative penalties, which may involve adjustments to previously reported financial statements[179].

Revenue and Profitability - The company's revenue for Q1 2022 was ¥371,697,391.48, representing a 105.84% increase compared to ¥180,572,044.65 in the same period last year[3] - The net profit attributable to shareholders decreased by 51.34% to ¥5,710,698.89 from ¥11,736,535.37 year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 95.15% to ¥477,906.51 from ¥9,852,135.45 in the previous year[3] - The net profit for the current period was ¥5,609,591.19, down from ¥11,702,136.55 in the previous period, reflecting a decrease of approximately 52.1%[33] - Basic and diluted earnings per share for the current period were both ¥0.0033, down from ¥0.0068 in the previous period[36] Cash Flow and Liquidity - The company's cash flow from operating activities was negative at -¥90,928,092.68, worsening by 142.88% compared to -¥37,437,895.06 in the same period last year[3] - The net cash flow from operating activities was -90,928,092.68 CNY, compared to -37,437,895.06 CNY in the previous period, indicating a decline in operational efficiency[40] - Total cash inflow from operating activities was 588,808,504.69 CNY, significantly up from 244,490,681.71 CNY in the previous period, reflecting increased sales and service revenue[40] - Cash outflow from operating activities totaled 679,736,597.37 CNY, compared to 281,928,576.77 CNY in the previous period, showing a substantial rise in operational costs[40] - The ending cash and cash equivalents balance was 59,943,611.45 CNY, down from 281,464,559.74 CNY in the previous period, reflecting liquidity challenges[40] Assets and Liabilities - Total assets increased by 14.60% to ¥2,808,647,123.22 from ¥2,450,762,071.17 at the end of the previous year[3] - The total liabilities increased to ¥1,128,504,885.56 from ¥777,364,564.60, marking an increase of approximately 45%[29] - The total equity attributable to the parent company was ¥1,684,198,515.96, slightly up from ¥1,677,352,677.17 in the previous period[29] Operational Costs and Expenses - The company's revenue cost rose by 125.22% to ¥348,391,234.71, primarily due to increased operational scale and rising material costs[9] - Management expenses increased by 54.96% to ¥32,445,090.56, attributed to team expansion and salary adjustments[9] - Financial expenses surged by 218.35% to ¥4,548,298.43, mainly due to increased loan amounts[9] - Total operating costs for the current period were ¥401,578,391.07, compared to ¥183,146,185.99 in the previous period, indicating an increase of about 119.5%[30] - Research and development expenses for the current period were ¥11,160,349.95, compared to ¥8,227,424.81 in the previous period, indicating an increase of about 35.5%[30] Contract and Prepayments - The company's contract assets surged by 280.02% to ¥448,245,869.54, driven by increased shipbuilding projects[6] - The company reported a significant increase in prepayments by 220.56% to ¥306,856,512.57, reflecting a rise in shipbuilding material orders[6] - The company has a significant increase in prepayments, which rose to CNY 306,856,512.57 from CNY 95,725,444.04, an increase of approximately 220.5%[23] - The company’s contract liabilities surged to ¥483,533,985.90 from ¥126,850,346.28, representing an increase of approximately 281.5%[29] Shareholder Information - The company has a total of 296,859,062 restricted shares, with no shares released during the reporting period[15] - The company received the first payment of USD 40 million related to the settlement agreement with H&C (SINGAPORE) for the two vessels[19] - The company plans to complete the transaction with OML by the end of June, pending funding issues[19] Audit and Financial Reporting - The company has not undergone an audit for the first quarter report, which may affect the reliability of the financial data presented[43]

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[37]. - 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[37]. - The net profit after deducting non-recurring gains and losses was ¥15,399,264.73, which is a 182.09% increase from ¥5,458,962.49 in 2020[37]. - The total assets at the end of 2021 amounted to ¥2,450,762,071.17, reflecting a 20.19% increase from ¥2,038,996,381.88 at the end of 2020[37]. - The basic earnings per share for 2021 was ¥0.0150, down 43.18% from ¥0.0264 in 2020[37]. - The net cash flow from operating activities was -¥185,016,783.52, worsening by 43.95% compared to -¥128,531,902.11 in 2020[37]. - The company received government subsidies amounting to ¥13,096,342.82 in 2021, an increase from ¥9,997,980.47 in 2020[45]. - The weighted average return on net assets for 2021 was 1.56%, down from 5.96% in 2020[37]. - The company’s net assets attributable to shareholders at the end of 2021 were ¥1,677,352,677.17, a 1.73% increase from ¥1,648,832,566.34 at the end of 2020[37]. - The company achieved a revenue of 1,421.75 million CNY in 2021, representing a year-on-year increase of 171.56%[83]. Business Strategy and Development - The company plans to enhance its research and development efforts across its three main business segments to improve core competitiveness and ensure stable growth[16]. - The company has invested in Nanhua Industrial to expand into ship automation and smart port businesses, creating synergy with existing military products[16]. - The company aims to mitigate risks related to customer defaults and contract management due to uncertainties from the global pandemic and geopolitical tensions[10]. - The company is actively adjusting its industrial and product structure to respond to cyclical changes in the international shipping market[7]. - The company emphasizes cost control and management improvements to counteract the impact of rising costs on its operations[11]. - The company is committed to promoting and utilizing new energy vessels, with its subsidiary Dajin Heavy Industry recognized as a demonstration unit for LNG-powered shipbuilding[16]. - The company aims to enhance its market competitiveness in the field of intelligent vessels by developing a 300 TEU unmanned intelligent ship[120]. - The company is committed to achieving a "dual carbon" goal by leveraging opportunities in the new energy sector, particularly in LNG applications[154]. - The company will focus on differentiating its products and services to build competitive advantages in the market[154]. - The company aims to establish a cooperative innovation ecosystem by collaborating with research institutions and enhancing its R&D capabilities[154]. Market and Industry Trends - In 2021, the company experienced significant growth in shipbuilding revenue and new orders, benefiting from the recovery of the shipping market[16]. - The shipbuilding industry is facing challenges such as labor shortages, rising human costs, and increasing prices of raw materials and energy[52]. - The global shipbuilding investment reached $147 billion, with new shipbuilding investment totaling $103 billion, a year-on-year increase of 106%[52]. - China's shipbuilding completion, new orders, and hand-held orders accounted for 47.2%, 53.8%, and 47.6% of the global total, respectively, with year-on-year increases of 4.1%, 5.0%, and 2.9 percentage points[52]. - The company is navigating challenges such as rising material costs and fluctuating exchange rates while maintaining a positive outlook for future growth[86]. Research and Development - The company has accumulated significant technology and experience in LNG cargo systems, natural gas power systems, and refueling facilities, forming a leading position in regional energy enterprises[56]. - Research and development expenses increased by 76.03% to ¥63,253,850.03, driven by significant technological changes in the shipbuilding market[119]. - The number of R&D personnel increased to 245, representing a 40% growth compared to 175 in the previous year[126]. - R&D investment amounted to ¥63,253,850.03 in 2021, which is 4.45% of operating revenue, down from 6.86% in 2020[126]. - The company completed the design of a new multi-functional self-elevating offshore wind power operation platform, which is now applied to actual orders[126]. Governance and Compliance - The company maintains independence from its controlling shareholder, with no guarantees provided to the shareholder or its affiliates during the reporting period[164]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[165]. - The supervisory board has 5 members, including 2 employee representatives, ensuring compliance with legal standards[168]. - The company has established a performance evaluation and incentive mechanism for directors and senior management, linking compensation directly to operational performance[169]. - The company respects the rights of stakeholders, balancing the interests of shareholders, employees, and society for sustainable development[170]. - The company adheres to strict information disclosure practices, ensuring timely and accurate communication with investors[171]. - The internal audit system is actively implemented, with no objections raised regarding the effectiveness of internal controls by the accounting firm[173]. Operational Efficiency - The company has established a procurement management system to enhance the efficiency of fund utilization and maintain corporate interests[66]. - The company has developed a strong customer network and marketing strategy, focusing on direct contracts with various shipowners and shipyards[66]. - The company has a comprehensive business model in shipbuilding and marine engineering, providing multi-level technical services including research, design, and project management[66]. - The company has a well-structured business model with three main segments: shipbuilding engineering, defense equipment, and new energy, all showing positive growth trends[59]. - The company has introduced a new management structure and talent from various sectors to optimize its operations post-restructuring[59]. Future Outlook - In 2022, the company plans to enhance production and management efficiency through increased R&D investment and precise management, aiming to meet annual operational goals[155]. - The shipbuilding sector will focus on high-end technology R&D, aiming to increase the proportion of high-value-added products and improve market competitiveness[154]. - The defense equipment sector will develop four main product categories, including emergency rescue equipment and underwater security systems, while emphasizing technological innovation[154]. - The new energy sector will enhance the operation of existing LNG refueling stations and expand the network layout for LNG refueling stations for vehicles and vessels[154]. - The company will implement a governance structure of "one headquarters and three platforms" to ensure effective risk control and compliance in operations[155].

Revenue and Profitability - Revenue for Q3 2021 reached ¥276,244,306.33, an increase of 60.46% year-over-year, and a total revenue of ¥859,859,959.64 for the first three quarters, up 112.49% compared to the same period last year[6] - Net profit attributable to shareholders was -¥12,119,869.30 for Q3 2021, a decrease of 801.50% year-over-year, with a year-to-date net profit of ¥19,423,714.91, down 50.63%[6] - Total operating revenue for the current period reached ¥859,859,959.64, a significant increase from ¥404,665,257.35 in the previous period, representing a growth of approximately 112.2%[48] - Net profit for the current period was ¥20,146,401.71, down from ¥39,513,094.06 in the previous period, reflecting a decrease of approximately 49.1%[51] - The net profit attributable to the parent company's shareholders was ¥19,423,714.91, compared to ¥39,343,818.22 in the previous period, a decline of about 50.7%[53] Cash Flow and Financial Position - The net cash flow from operating activities showed a significant decline of 46,764.80%, totaling -¥182,008,980.17 year-to-date[6] - Net cash flow from operating activities decreased by 46,764.80% year-on-year, significantly impacted by increased guarantee deposits and advance payments for raw material procurement due to rapid growth in EPC project orders[29] - Operating cash inflow totaled CNY 1,157,810,806.75, compared to CNY 512,055,676.05 in the previous period[57] - Operating cash outflow amounted to CNY 1,339,819,786.92, up from CNY 511,665,641.24 year-over-year[57] - Net cash flow from operating activities was negative CNY 182,008,980.17, a significant decline from a positive CNY 390,034.81 previously[57] - Cash flow from investing activities showed a net outflow of CNY 32,549,554.77, compared to a smaller outflow of CNY 1,475,318.10 last year[59] - Cash inflow from financing activities was CNY 126,567,001.00, an increase from CNY 70,456,000.00 in the prior period[59] - The ending cash and cash equivalents balance was CNY 160,821,353.50, compared to CNY 109,490,971.54 at the end of the previous period[59] Assets and Liabilities - The company's total assets increased by 20.92% year-over-year, reaching ¥2,465,619,198.35[6] - As of September 30, 2021, the total assets of Tianhai Fusion Defense Equipment Technology Co., Ltd. amounted to CNY 2,465,619,198.35, an increase from CNY 2,038,996,381.88 at the end of 2020, representing a growth of approximately 21%[42] - The company's current assets totaled CNY 1,296,328,800.61, up from CNY 920,553,459.05 at the end of 2020, indicating a growth of about 41%[42] - The total liabilities of the company increased to CNY 1,200,000,000.00, reflecting a significant rise in financial obligations[45] - The total liabilities amounted to ¥802,948,874.07, up from ¥390,514,425.65, representing an increase of about 105.5%[48] Operational Performance - The company experienced a 138.64% increase in operating costs, attributed to rising material and labor costs amid longer execution cycles for EPC orders[26] - R&D expenses rose by 100.46% year-over-year, reflecting increased investment following the recovery of business operations[28] - The company reported a significant increase in prepayments, which rose to CNY 244,098,600.43 from CNY 71,361,352.07, indicating a growth of about 242%[42] - Total operating costs amounted to ¥885,875,853.81, compared to ¥738,022,973.65 in the previous period, indicating an increase of about 19.9%[51] Shareholder Information - Total number of ordinary shareholders at the end of the reporting period was 120,109, with the top ten shareholders holding significant stakes[31] - Xiamen Longhai Energy Investment Partnership holds 12.50% of shares, with 216,000,000 shares frozen[31] - Liu Nan, a natural person, holds 8.34% of shares, with 39,425,000 shares frozen[31] - China Great Wall Asset Management Co., Ltd. holds 6.16% of shares[31] - The total number of restricted shares at the beginning of the period was 216,000,000, with no shares released during the period[35] - The restricted shares are set to be released on December 29, 2023[35] Strategic Focus - The company plans to enhance operational efficiency through cost control and financing expansion in response to market challenges[8] - The company is focusing on three major business segments: "Ship Engineering," "Defense Equipment," and "New Energy," as part of its strategic recovery phase[8] - The company is focusing on expanding its market presence and enhancing product development strategies to drive future growth[56] Regulatory and Compliance - The company received an investigation notice from the China Securities Regulatory Commission on January 25, 2021, due to suspected violations of securities laws, with no progress reported as of the end of the reporting period[41] - The company has not conducted an audit for the third-quarter report, which may affect the reliability of the financial data presented[71] - The company is implementing new leasing standards, which may impact future financial reporting[71]

Industry Recovery and Strategic Focus - The company reported a significant recovery in the global shipbuilding industry, with the Baltic Dry Index (BDI) rising above 3000 points in the first half of 2021[9]. - The company has outlined a strategic plan for 2021-2025 focusing on three main business segments: "Ship Engineering," "Defense Equipment," and "New Energy" to enhance core competitiveness[8]. - The company plans to actively adjust its industrial and product structure to mitigate risks associated with market fluctuations and pursue technological innovation[12]. - The company acknowledges that its future business development and profitability will be influenced by market volatility[4]. Financial Performance - The company's operating revenue for the reporting period was ¥583,615,653.31, representing a year-on-year increase of 151.01% compared to ¥232,504,176.93 in the same period last year[48]. - The net profit attributable to shareholders of the listed company was ¥31,543,584.21, a decrease of 22.47% from ¥40,688,225.53 in the previous year[48]. - The net profit after deducting non-recurring gains and losses was ¥27,967,578.68, down 60.72% from ¥71,203,240.45 in the same period last year[48]. - The net cash flow from operating activities was -¥150,216,770.32, a significant decline of 5,162.08% compared to ¥2,967,493.16 in the previous year[48]. - The total assets at the end of the reporting period were ¥2,315,593,991.66, an increase of 13.57% from ¥2,038,996,381.88 at the end of the previous year[48]. - The net assets attributable to shareholders of the listed company were ¥1,679,056,787.50, up 1.83% from ¥1,648,832,566.34 at the end of the previous year[48]. Cost Management and Risk Mitigation - The company is enhancing its management capabilities and cost control measures to address rising raw material prices and labor costs, aiming to reduce the proportion of costs to revenue[15]. - The company faces risks related to customer defaults due to financing difficulties caused by the ongoing COVID-19 pandemic, which may lead to order breaches[14]. - The company emphasizes the importance of strengthening credit assessments of shipowners to minimize order default risks[14]. - The company will continue to analyze exchange rate trends and develop risk prevention strategies to mitigate foreign currency exposure, particularly in USD-denominated export orders[13]. Research and Development - The company is committed to increasing its research and development efforts across its three main business segments to ensure stable growth[8]. - Research and development investment rose by 113.39% to ¥32,335,790.08 from ¥15,153,495.77, reflecting the company's commitment to innovation as business activities resumed[92]. Business Expansion and Diversification - The company is expanding its business into defense equipment and new energy sectors while maintaining its core shipbuilding engineering operations[56]. - The company has established a competitive shipbuilding engineering industry chain, focusing on ship design, manufacturing, and supporting services[56]. - The company has developed a unique EPC business model that has gained rapid market recognition and is a significant source of revenue[56]. - The company’s total contracting business focuses on specialized products like military auxiliary vessels and has rapidly gained market recognition, becoming a significant source of revenue through projects like wind power installation platforms and LNG transport vessels[62]. Corporate Governance and Compliance - The company completed its restructuring at the end of 2020, optimizing its shareholder structure and improving its financial and governance structures[56]. - The company held its first extraordinary general meeting of 2021 on February 22, with a participation rate of 23.27%[119]. - The company’s board of directors and supervisory board were re-elected on February 22, 2021[123]. - The company has committed to avoiding direct or indirect competition with its subsidiaries[137]. - The company has not engaged in any non-compliance external guarantees during the reporting period[181]. Social Responsibility and Community Engagement - The company is actively engaged in fulfilling its corporate social responsibility by supporting education in remote areas[134]. - The company made a charitable donation of RMB 50,000 and teaching materials to a primary school in Guizhou during the reporting period[134]. Related Party Transactions - The company reported a total related party transaction amount of 54.97 million yuan, with 55.82% of this amount related to sales of products such as unloading machines[194]. - The company engaged in related party transactions with Jiangsu Green Energy Heavy Industry Equipment Co., Ltd., amounting to 40.83 million yuan for sales and 10.15 million yuan for procurement services[194]. - The company has maintained compliance with market pricing principles in all related party transactions[194].

Financial Performance - The company's operating revenue for Q1 2021 was ¥180,572,044.65, representing a 113.01% increase compared to ¥84,771,732.06 in the same period last year[8]. - The net profit attributable to shareholders for Q1 2021 was ¥11,736,535.37, a decrease of 7.78% from ¥12,726,695.52 in the previous year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥9,852,135.45, down 9.93% from ¥10,938,570.74 year-on-year[8]. - Basic earnings per share for Q1 2021 were ¥0.0068, a decrease of 48.87% from ¥0.0133 in the previous year[8]. - The total net profit for the current period is 11,702,136.55, a decrease from 12,148,831.89 in the previous period, representing a decline of approximately 3.7%[115]. - The total comprehensive income for the current period is 11,702,136.55, down from 12,148,831.89, reflecting a decrease of around 3.7%[121]. Cash Flow - The net cash flow from operating activities was -¥37,437,895.06, a significant decline of 1,422.92% compared to -¥2,458,301.34 in the same period last year[8]. - Cash flow from operating activities for the current period is 191,034,244.08, an increase from 90,435,507.57 in the previous period, representing a growth of approximately 111.7%[126]. - Cash outflow from operating activities was CNY 281,928,576.77, up from CNY 156,321,775.37, leading to a net cash flow from operating activities of -CNY 37,437,895.06, compared to -CNY 2,458,301.34 previously[130]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,098,490,509.30, an increase of 2.92% from ¥2,038,996,381.88 at the end of the previous year[8]. - The total liabilities of the company were CNY 438.39 million, an increase from CNY 390.51 million at the end of 2020, indicating a rise of approximately 12.3%[99]. - The company's total assets decreased to ¥2,568,340,227.81 from ¥2,591,079,912.87, a decline of about 1%[109]. - The total liabilities decreased to ¥47,168,123.59 from ¥57,793,750.84, showing a reduction of approximately 18%[109]. Operating Costs and Expenses - Operating costs increased by 147.06% year-on-year, driven by the growth in revenue[24]. - Total operating costs amounted to ¥183,146,185.99, up from ¥81,787,189.00, indicating a year-over-year increase of about 124%[112]. - R&D expenses surged by 424.48% year-on-year, reflecting the company's increased investment in research and development[24]. - Research and development expenses were ¥8,227,424.81, compared to ¥1,568,677.46 in the same period last year, reflecting a substantial increase of approximately 424%[112]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 104,118[11]. - The company reported a total of 937.50 million shares to be released from lock-up after 24 months following the completion of the share issuance[61]. - The total equity attributable to shareholders of the parent company was ¥2,521,172,104.22, down from ¥2,533,286,162.03, a decrease of about 0.5%[109]. Contracts and Projects - The company has signed significant contracts, including a total of 65 million CNY for LNG-powered vessel construction, with all 45 units of the 600-ton LNG vessels delivered by the reporting period[28]. - The company signed a wind turbine installation platform project with a contract amount of RMB 53.578 million, having received the first payment of RMB 9.856 million and recognized revenue of RMB 25.29 million by the end of the reporting period[36]. - The company entered into a contract for the construction of 12 multipurpose cargo ships with a total value of approximately RMB 68.212 million, with no initial payment received as of the reporting period's end[36]. Compliance and Commitments - The company is currently in the process of fulfilling commitments related to non-competition and fair trading with its controlling entities[46]. - The company has ongoing commitments to ensure that related transactions are conducted at fair market prices and comply with legal regulations[49]. - The company is in compliance with its commitments regarding shareholding and non-competition as per the agreements made during previous transactions[55].

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] - The company completed its bankruptcy restructuring in December 2020, clarifying its focus on "Ship and Ocean Engineering," "Military Defense," and "New Energy" sectors[6] - The company aims to adjust its industrial and product structure to acquire new orders and enter new product and service areas[11] - The company is focusing on expanding its business structure into three main sectors: marine engineering, military defense, and new energy[46] - The company aims to establish a healthy development pattern characterized by "technology leadership, dual land and sea operations, military-civilian integration, and intelligent green development"[46] Financial Performance - The company's operating revenue for 2020 was ¥523,552,744.58, a decrease of 11.17% compared to ¥589,369,324.87 in 2019[37] - The net profit attributable to shareholders in 2020 was ¥25,557,506.83, a significant turnaround from a loss of ¥358,271,940.85 in 2019, representing a 107.13% increase[37] - The net cash flow from operating activities was negative at ¥128,531,902.11, a decline of 620.93% compared to a positive cash flow of ¥24,673,373.81 in 2019[37] - Basic earnings per share for 2020 were ¥0.0264, recovering from a loss of ¥0.3732 per share in 2019, marking a 107.07% improvement[37] - The company's gross profit margin for the manufacturing sector was 24.10%, a decrease of 20.42% from the previous year[93] Revenue Sources and Segments - The shipbuilding and marine engineering EPC business was one of the most important sources of revenue for the company during the reporting period[46] - Revenue from the ship and marine engineering segment was 45.83 million yuan, a year-on-year increase of 1.39%[87] - Revenue from EPC business decreased by 5.31% to 332.26 million yuan due to insufficient orders in previous years[87] - Revenue from high-performance polymer materials and aerospace equipment products increased by 2.56% to 68.13 million yuan[87] - Revenue from the natural gas business decreased by 44.32% to 64.30 million yuan, impacted by funding and procurement price issues[87] Research and Development - The company’s research and development expenses increased by 5.20% to RMB 35.93 million, reflecting ongoing investment in core marine engineering technologies[118] - The company completed 10 R&D projects focused on core marine engineering technologies and automation systems, enhancing its technological capabilities[119] - R&D investment in 2020 amounted to ¥35,934,317.68, representing 6.86% of operating revenue, an increase from 5.80% in 2019[123] - The company is actively expanding its research and production of unmanned intelligent systems and emergency rescue equipment, focusing on key technologies in autonomous navigation and digital control systems[62] Risk Management - The company faces risks from rising raw material prices and labor costs, which have increased due to market conditions and the pandemic[17] - The company will strengthen credit investigations of shipowners and enhance project execution management to mitigate the risk of order defaults[16] - The company is focused on risk prevention regarding exchange rate fluctuations, particularly for export ship orders denominated in USD[12] - The company is committed to reducing the proportion of costs in revenue through improved management and cost control measures[17] Shareholder and Governance Commitments - The company will not distribute cash dividends, issue bonus shares, or convert reserves into share capital for the year[18] - The company has ongoing commitments to ensure that related transactions are conducted fairly and in accordance with normal commercial practices, with a focus on maintaining transparency and compliance with legal regulations[167] - The company has a commitment to not utilize related transactions to harm the interests of the company and its shareholders, ensuring that all related transactions are conducted at fair market prices[170] - The company has a share reduction commitment from China Great Wall Asset Management Co., Ltd., with a lock-up period of 6 months following the completion of the restructuring on December 29, 2020[173] Market Position and Future Plans - The company has designed and delivered over 2,000 vessels and marine engineering projects, maintaining a leading position in the design of special engineering vessels[49] - The company aims to enhance its overall profitability by exploring the development of military auxiliary ships and creating a comprehensive defense equipment industrial chain[141] - The company plans to strengthen the research and promotion of environmentally friendly and high-end special ship types, focusing on new energy applications in the shipping industry[140] - The company plans to gradually complete the network layout of LNG refueling stations for vehicles and vessels through various strategies, including mergers and strategic partnerships[152]

Financial Performance - Operating revenue for the reporting period was CNY 172,161,080.42, an increase of 22.42% year-on-year [9]. - Net profit attributable to shareholders was a loss of CNY 1,344,407.31, a decrease of 95.75% compared to the same period last year [9]. - The net cash flow from operating activities was a negative CNY 2,577,458.35, a decrease of 88.06% year-on-year [9]. - Basic earnings per share were CNY -0.0014, a decrease of 95.76% compared to the same period last year [9]. - The weighted average return on net assets was -0.05%, down from 1.14% in the previous year [9]. - The company's operating revenue for the first nine months was 404.67 million yuan, a year-on-year decrease of 17.27% [30]. - The net profit attributable to shareholders was 39.34 million yuan, turning from loss to profit compared to the same period last year [30]. - The total operating revenue for the current period is ¥404,665,257.35, a decrease of 17.3% compared to ¥489,136,465.08 in the previous period [126]. - The net profit for the current period is -¥4,200,440.73, compared to -¥29,144,785.48 in the previous period, indicating an improvement [124]. - The company's net profit for the current period is ¥39,513,094.06, a significant recovery from a net loss of ¥76,571,015.05 in the previous period, representing a turnaround of over 151% [129]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,853,281,931.07, a decrease of 8.46% compared to the end of the previous year [9]. - Total current assets decreased to ¥692,006,425.43 from ¥864,358,993.16, reflecting a decline of about 19.9% [91]. - Total liabilities decreased to ¥1,410,994,201.27 from ¥1,621,297,050.74, a reduction of about 13% [97]. - The company's total assets as of September 30, 2020, were ¥1,853,281,931.07, down from ¥2,024,537,949.15, indicating a decrease of approximately 8.4% [96]. - Total liabilities reached CNY 1,621,297,050.74, with current liabilities at CNY 1,606,426,133.98 and non-current liabilities at CNY 14,870,916.76 [159]. - The total liabilities to equity ratio stands at approximately 4.02, suggesting a high level of leverage [162]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 126,257 [13]. - The largest shareholder, Liu Nan, held 18.83% of the shares, totaling 180,796,514 shares [13]. - The company did not conduct any repurchase transactions among the top 10 shareholders during the reporting period [18]. Cash Flow - The cash balance at the end of the period increased by 60.00% compared to the beginning of the year, mainly due to the suspension of various liabilities payments and receipt of investor deposits [30]. - Cash and cash equivalents at the end of the period stood at 109,490,971.54, a significant increase from 17,094,330.73 at the end of the previous period [144]. - Total cash inflow from operating activities was 512,055,676.05, compared to 691,665,428.16 in the prior period, indicating a decrease of approximately 26% [142]. Restructuring and Investments - The company is currently in the restructuring process due to an inability to repay debts, with a court ruling allowing the company to continue operations during this period [51]. - The restructuring plan was approved by the court on September 10, 2020, terminating the restructuring process for the company [51]. - The company has signed a framework agreement for restructuring investment, confirming new investors to support the restructuring efforts [51]. - The company plans to increase its shareholding in Tianhai Defense by purchasing shares in the secondary market within 12 months after completing the acquisition of 100% equity in Jiangsu Dajin Heavy Industry Co., Ltd. [80]. Related Party Transactions - The company has made commitments to avoid and regulate related party transactions, ensuring fair operations based on market principles and fair prices [75]. - The company has a long-term commitment to not engage in any business that competes with Tianhai Defense, either directly or indirectly [70]. - The company has confirmed that it will not engage in any activities that may constitute competition with Tianhai Defense in the future [70]. Research and Development - Research and development expenses for the quarter were ¥6,730,434.50, slightly down from ¥7,980,144.15 in the previous period, indicating a focus on cost management [112]. - Research and development expenses for the current period are ¥21,883,930.27, slightly up from ¥21,245,381.84 in the previous period [126].