证券代码：300066 证券简称：三川智慧 | --- | --- | |-------------------|----------------------------------------------------------| | | R 特定对象调研□分析师会议 | | | □ 媒体采访□业绩说明会 | | 投资者关系活 | □新闻发布会£路演活动 | | 动类别 | □ 现场参观 | | | □其他 (请文字说明其他活动内容 ) | | 参与单位名称 | 太平洋证券：赵晖 | | 时间 | 5 月 29 日 11:00-12:00 | | 地点 | 三川智慧董秘办 | | | | | 上 市 公 司 接 待 | 董事会秘书：倪国强 | | 人员姓名 | | | 投资者关系活 | 1 、去年以来智能水表快速增长的原因是什么 | | 动主要内容介 | 主要驱动因素有三个方面： | | 绍 | 一是技术因素，即 NB-IoT 窄带物联网技术的推广应 | | | 用。 NB-IoT 通讯技术具备功耗低、覆盖面广、信号穿透力 | | | 强以及低成本、大规模连接等突出特点，非常适宜智能抄表 | | | 等实时 ...

证券代码：300066 证券简称：三川智慧 | --- | --- | |-----------------------|-------------------------------------------------------| | | R 特定对象调研□分析师会议 | | | □ 媒体采访□业绩说明会 | | 投资者关系活 | □新闻发布会£路演活动 | | 动类别 | R 现场参观 | | | □其他 ( 请文字说明其他活动内容 ) | | 参与单位名称 | 新时代证券：郭泰；中信保诚人寿：杜中明 | | 时间 | 12 月 19 日 14:30-16:30 | | 地点 | 三川智慧行政楼三楼会议室 | | | | | 上 市 公 司 接 待 | 董事长：李建林；董事会秘书：倪国强 | | 人员姓名 投资者关系活 | | | 动主要内容介 | 1、公司 2019 年的亮点有哪些 | | 绍 | 首先，公司 2019 年智能表的销售有了大幅度的提升， | | | 占销售收入的比重将达到 70% ；其次，公司的主要客户发 | | | 生了很大变化，原来主要是县市级水司，近两年逐步进入了 | | | 北 ...

Group 1: Company Overview and Strategic Direction - The company has undergone a transformation and upgrade process, focusing on future development directions and industry opportunities [1] - The company has approximately 500 million RMB in cash assets available for investment and mergers, with a focus on strategic emerging industries [2] Group 2: Product and Market Insights - The penetration rate of smart water meters in China is currently about 30%, expected to reach around 50% in the next five years [2] - The company’s products include various specifications of mechanical and smart meters, primarily serving water utility companies [2] Group 3: Industry Trends and Challenges - The water industry is moving towards group formation, with provinces establishing their own water utility groups, which may benefit leading companies in the water meter sector [2] - The replacement cycle for water meters under 25 mm is six years, leading to a stable annual replacement demand of approximately 70 million units if all households install meters [2] Group 4: Financial Performance and Accounts Receivable - The company’s accounts receivable have been increasing due to large project contracts in major cities, with accounts from Beijing, Tianjin, and Shanghai accounting for about 47% of total receivables [4]

Revenue and Profit - The company's revenue for Q3 2022 reached ¥364,203,584.81, representing a year-on-year increase of 55.95%[5] - Net profit attributable to shareholders decreased by 11.12% to ¥44,996,259.07 for the same period[5] - Total revenue for the third quarter of 2022 reached ¥745,695,476.28, an increase of 16.9% compared to ¥637,498,559.78 in the same period last year[20] - Net profit attributable to the parent company increased to ¥2,150,594,577.85, compared to ¥2,047,957,414.50 in the previous year[19] - The net profit for Q3 2022 was ¥128,401,068.02, a decrease of 8.5% compared to ¥140,311,450.95 in Q3 2021[21] - The total comprehensive income for Q3 2022 was ¥128,401,068.02, compared to ¥140,311,450.95 in the same quarter last year, reflecting a decline of 8.5%[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,782,570,274.67, an increase of 12.90% compared to the end of the previous year[5] - Current assets totaled ¥1,733,502,831.27, reflecting a growth of 8.2% from ¥1,601,606,159.65 at the beginning of the year[18] - Non-current assets amounted to ¥1,049,067,443.40, up 21.6% from ¥863,053,352.87 year-to-date[18] - Total liabilities increased to ¥475,305,258.49, compared to ¥290,159,412.37 in the previous year, indicating a significant rise in financial obligations[19] - The company’s total equity reached ¥2,307,265,016.18, up from ¥2,174,500,100.15 year-over-year, reflecting a healthy growth in shareholder value[19] Operating Costs and Expenses - The company's operating costs rose by 31.98% to ¥561,414,076.62, primarily due to increased raw material prices and costs from the newly acquired subsidiary[10] - Total operating costs for the third quarter were ¥706,419,004.21, up 23.9% from ¥569,572,716.98 year-over-year[20] - The company’s total operating expenses increased to ¥934,176,390.30 in Q3 2022, compared to ¥752,735,541.11 in Q3 2021, marking an increase of 24.1%[22] - Research and development expenses for the quarter were ¥35,530,810.88, a decrease of 14.2% from ¥41,398,066.14 in the previous year[20] Cash Flow - Cash flow from operating activities showed a net outflow of ¥37,524,746.21, a decrease of 15.81% compared to the previous year[5] - Operating cash inflow increased by 26.62% to ¥896,651,644.09 due to growth in sales receipts and the addition of Tianhe Permanent Magnet's cash inflow[12] - Operating cash outflow rose by 24.10% to ¥934,176,390.30, primarily due to increased material purchases, wages, and business expenses[12] - Cash inflow from operating activities totaled ¥896,651,644.09, compared to ¥708,165,521.65 in the previous year, indicating a growth of 26.6%[22] - The cash flow from financing activities resulted in a net outflow of ¥9,486,967.48, an improvement from a net outflow of ¥98,704,837.89 in the previous year[23] Inventory and Prepayments - The company reported a significant increase in prepayments, which rose by 412.98% to ¥48,213,002.02, mainly due to payments for smart factory construction[9] - The company’s inventory increased to ¥462,585,546.62, a significant rise from ¥241,147,942.24 at the beginning of the year, indicating potential market expansion[18] Financial Ratios and Earnings - The basic earnings per share for Q3 2022 was ¥0.0433, down 11.09% from the previous year[5] - The basic earnings per share for Q3 2022 was ¥0.1187, down from ¥0.1292 in Q3 2021, representing a decrease of 3.9%[21] Financial Activities - Financing cash inflow increased by 10.63% to ¥26,588,724.82, with no significant changes reported[12] - Financing cash outflow decreased significantly by 70.61% to ¥36,075,692.30, primarily due to repayment of short-term loans and payments related to the acquisition of San Chuan Technology[12] - Net cash flow from financing activities improved by 90.39% to -¥9,486,967.48, reflecting reduced outflows compared to the previous period[12] Exchange Rate Impact - The impact of exchange rate fluctuations on cash and cash equivalents was positive, with a change from -¥341,926.65 to ¥213,256.21, driven by growth in export business and currency volatility[12]

Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥381.49 million, a decrease of 5.56% compared to ¥403.96 million in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2022 was approximately ¥78.41 million, down 6.34% from ¥83.72 million in the previous year[21]. - The net cash flow from operating activities was negative at approximately ¥61.21 million, a decline of 121.97% compared to a negative cash flow of ¥27.58 million in the same period last year[21]. - The basic earnings per share for the first half of 2022 was ¥0.0754, a decrease of 6.34% from ¥0.0805 in the previous year[21]. - The total assets at the end of the reporting period were approximately ¥2.46 billion, a slight decrease of 0.03% from ¥2.46 billion at the end of the previous year[21]. - The net assets attributable to shareholders increased by 2.31% to approximately ¥2.10 billion from ¥2.05 billion at the end of the previous year[21]. - The company's overall market share in 2021 was approximately 10%, reflecting its competitive strength in the water meter market[44]. - The company's operating revenue for the reporting period was ¥381,491,891.47, a decrease of 5.56% compared to the previous year due to a slight decline in sales volume of main products[59]. - Operating costs increased by 2.30% to ¥274,396,544.87, primarily due to rising material prices[59]. - The gross profit margin for the water meter manufacturing segment was 25.64%, reflecting a decrease of 5.98% year-on-year due to rising raw material costs and market competition[64]. Strategic Focus and Development - The company is focusing on the development of smart water management systems, integrating technologies such as NB-IoT and 5G for enhanced data collection and management[21]. - The company aims to reduce the water supply and sales discrepancy, which currently stands at 15-20% domestically, by implementing advanced management techniques[21]. - The company is committed to expanding its market presence through innovative product development and strategic partnerships in the smart water sector[21]. - The company focuses on smart water meters, particularly IoT water meters, and aims to become a leading provider of water measurement services and smart water solutions[29]. - The company has launched a smart water business group to promote the digital transformation of water supply enterprises[42]. - The smart water cloud platform integrates IoT, big data, and mobile internet technologies to enhance water resource management and service delivery[37]. - The company plans to promote digital transformation and green development in the water supply sector through its newly established smart water business group[55]. - The company is diversifying its business into water operation, monitoring, and treatment services, aiming to provide comprehensive smart water solutions[104]. - The company is exploring potential mergers and acquisitions to enhance its technological capabilities and market reach[193]. Research and Development - The company has invested significantly in R&D to enhance the functionality and value of its smart water management products[45]. - The company holds a total of 372 valid patents, including 31 invention patents, and has a strong R&D team of over 280 personnel[52]. - The company is recognized as a "National High-tech Enterprise" and has established a post-doctoral research station, highlighting its commitment to technological innovation[51]. - Research and development investment decreased by 20.67% to ¥22,394,057.64, as ongoing projects had not fully commenced[59]. - Research and development expenses for the first half of 2022 were ¥22,394,057.64, a decrease of 20.7% from ¥28,229,825.60 in the same period of 2021[182]. - Research and development expenses accounted for 6.5% of total revenue, indicating a strong commitment to innovation[194]. Market and Sales - Direct sales accounted for 77.9% of the company's sales in 2021, with a nationwide marketing service network established across seven major regions[42]. - The company has set a target to reduce operational costs by 5% through process optimization initiatives[193]. - The company plans to expand its smart water meter sales, focusing on large and medium-sized cities, to adapt to market changes and improve revenue[101]. - The company reported a significant increase in user data, with active users growing by 15% year-over-year[193]. - Future guidance estimates a revenue growth of 10% for the second half of 2022, driven by new product launches and market expansion strategies[194]. Financial Management and Investments - The company has implemented a strategic procurement plan for critical materials like chips to ensure production integrity amid global uncertainties[40]. - The company reported a significant increase in investment income, amounting to ¥47,705,066.50, which constituted 55.69% of total profit[66]. - The company reported a total investment of 280 million yuan in financial assets, with a fair value change of 4,283,022 yuan during the reporting period[82]. - The company has recognized the risks associated with mergers and acquisitions and is implementing measures such as signing performance guarantees and enhancing team training to mitigate these risks[106]. - The company has become a significant exporter of water meters, with 12.83% of its revenue coming from export business in 2021, and is considering financial measures to hedge against exchange rate fluctuations[108]. Corporate Governance and Social Responsibility - The company emphasized the importance of maintaining accurate financial reporting and accountability among its executives[3]. - The company adheres to the principles of "innovation, win-win, integrity, and leadership" in fulfilling its social responsibilities[120]. - The company has not delayed any employee salaries, tax payments, or bank loan repayments since its establishment[120]. - The company provides two channels for shareholders to participate in meetings: on-site and online voting, ensuring equal rights for all investors[122]. - The company has established a comprehensive training system for employees, focusing on both internal and external training opportunities[123]. - The company has implemented measures to reduce carbon emissions and improve environmental protection during its production processes[118]. - The company has not faced any administrative penalties for environmental issues during the reporting period and adheres to ISO14001 environmental management standards[117]. Assets and Liabilities - Cash and cash equivalents decreased to ¥265,296,060.95, accounting for 10.77% of total assets, down from 17.78% last year, a decrease of 7.01%[68]. - Accounts receivable stood at ¥570,907,595.06, representing 23.17% of total assets, a slight decrease of 1.09% from the previous year[68]. - Inventory increased to ¥297,805,161.99, making up 12.09% of total assets, an increase of 2.31% due to stockpiling and product growth[68]. - The company reported a significant increase in trading financial assets to ¥224,164,712.33, which now accounts for 9.10% of total assets, a new entry compared to the previous year[68]. - Contract liabilities rose to ¥44,171,283.96, representing 1.79% of total assets, an increase of 0.54% attributed to pre-receipts during the reporting period[68]. - The company reported a decrease in employee compensation payable to ¥18,826,554.14, which is 0.76% of total liabilities, down by 0.46% from the previous year[68]. - Deferred income tax liabilities increased to ¥2,989,468.79, representing 0.12% of total liabilities, an increase of 0.03% due to changes in the fair value of trading financial assets[68]. Future Outlook - The company plans to expand its market presence by increasing investment in new product development, targeting a 20% growth in user base by the end of 2023[193]. - New technology developments are expected to contribute an additional 300 million yuan in revenue by the end of 2023[194]. - The company’s future outlook includes expanding into rare earth mineral import and export trade through the newly established subsidiary[149].

Financial Performance - The company's operating revenue for Q1 2022 was ¥157,505,906.34, a decrease of 4.90% compared to the same period last year[2] - The net profit attributable to shareholders was ¥34,036,198.48, representing a year-on-year increase of 1.65%[2] - Total operating revenue for the current period is CNY 157,505,906.34, a decrease of 4.7% from CNY 165,612,851.99 in the previous period[12] - Net profit for the current period is CNY 33,704,622.30, an increase of 2.3% compared to CNY 32,935,162.83 in the previous period[14] - The company reported a total comprehensive income of CNY 33,704,622.30 for the current period, compared to CNY 32,935,162.83 in the previous period[14] Cash Flow and Liquidity - The net cash flow from operating activities was -¥45,058,376.66, a significant decline of 268.07% compared to the previous year[2] - Cash flow from operating activities shows a net outflow of CNY -45,058,376.66, worsening from CNY -12,241,834.90 in the previous period[17] - Cash flow from investing activities has a net outflow of CNY -113,259,717.50, compared to CNY -88,908,969.04 in the previous period[17] - Total cash and cash equivalents decreased by CNY 158,374,752.88 during the current period[17] - The ending balance of cash and cash equivalents is 260,931,489.36, an increase from 210,583,530.63[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,451,466,825.91, down 0.54% from the end of the previous year[2] - The company's total assets at the end of the first quarter of 2022 amount to CNY 2,451,466,825.91, a decrease from CNY 2,464,659,512.52 at the beginning of the year[9] - The total current assets are CNY 1,607,730,276.18, slightly up from CNY 1,601,606,159.65 at the beginning of the year[9] - The total liabilities decreased from CNY 290,159,412.37 to CNY 243,067,096.99 during the same period[10] - The company's cash and cash equivalents decreased from CNY 438,093,241.28 to CNY 281,797,249.45[9] Shareholder Information - The total number of common shareholders at the end of the reporting period is 36,693[7] - The largest shareholder, Jiangxi Sanchuan Group, holds 40.84% of the shares, totaling 424,744,566 shares[7] - The company has no preferred shareholders as indicated in the report[7] Operational Costs and Expenses - The company's weighted average return on equity was 1.65%, a slight decrease of 0.06% from the previous year[2] - The company's financial expenses decreased by 38.49% to -¥680,867.88, mainly due to increased exchange gains and interest from discounted bills[5] - Total operating costs for the current period are CNY 156,887,482.41, down 2.1% from CNY 160,237,731.89 in the previous period[12] - The company paid CNY 44,132,372.51 to employees, a slight decrease from CNY 45,766,676.80 in the previous period[17] Impairment and Subsidies - The company reported a significant increase in credit impairment losses of 1463.14% to ¥6,336,455.69, attributed to enhanced collection efforts[5] - The company received government subsidies amounting to ¥2,290,696.60, which are closely related to its normal business operations[3] Miscellaneous - The first quarter report has not been audited[18] - The report was released on April 28, 2022[19]

Financial Performance - The company reported a total revenue of 1,040,033,262.00 shares, with a cash dividend of 0.30 yuan per 10 shares (including tax) proposed for distribution to all shareholders[5]. - The company's operating revenue for 2021 was approximately ¥936.94 million, a decrease of 2.40% compared to 2020[21]. - The net profit attributable to shareholders for 2021 was approximately ¥189.30 million, down 11.83% from the previous year[21]. - The net cash flow from operating activities increased by 43.69% to approximately ¥83.87 million in 2021[21]. - The total assets at the end of 2021 were approximately ¥2.46 billion, reflecting a growth of 3.34% compared to the end of 2020[21]. - The company's basic earnings per share for 2021 was ¥0.1820, a decrease of 11.82% from 2020[21]. - The weighted average return on equity for 2021 was 9.53%, down from 11.53% in 2020[21]. - The company reported a significant increase in quarterly revenue, with Q4 2021 reaching approximately ¥299.44 million[23]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion yuan in 2021, representing a year-over-year growth of 25%[65]. - The company has set a revenue guidance for 2022, projecting an increase of 20% to reach approximately 1.8 billion yuan[65]. Market and Industry Trends - The company is positioned in the water meter manufacturing industry, which is experiencing consolidation and increasing concentration among water service companies[33]. - The water meter industry in China is transitioning towards smart water meters, with a market demand driven by real-time data transmission and remote control capabilities[34]. - The penetration rate of smart water meters in total sales was around 30% in 2020, indicating a growing trend towards intelligent water management systems[36]. - The rural drinking water coverage rate is expected to reach over 88% by 2025, which will drive additional demand for water meters[40]. - The overall growth rate of the water meter industry was about 8% in sales revenue in 2020, while the growth rate in sales volume was approximately 1%[36]. - The demand for smart water meters has rapidly increased due to national policies promoting new urbanization and smart city initiatives, contributing to the company's performance growth[62]. Product Development and Innovation - The company is focused on developing new products and technologies, particularly in the smart water meter sector, which utilizes modern microelectronics and wireless communication technologies[12]. - The company has a strong focus on R&D, as evidenced by the numerous patents filed in 2021, which may position it well for competitive advantage in the market[1]. - The company has developed a smart water management system and cloud platform that covers over 50 million water users and serves more than 300 water companies[61]. - The company has established a comprehensive smart water data cloud platform to provide integrated solutions for water management, including water metering and quality monitoring[63]. - The company has developed a multi-sensing IoT water meter based on 5G technology to monitor various parameters such as water quality and pressure in real-time[14]. - The company has launched multiple software products, including the NB-IOT collector production software and various data integration systems, enhancing its product portfolio[69]. - The company is actively pursuing research and development of new technologies to enhance product offerings and maintain competitive advantage[90]. Risk Management - The company faces risks including cyclical fluctuations in the real estate industry, technological innovation, and significant increases in raw material prices, which are detailed in the management discussion section[5]. - The company emphasizes the importance of understanding the differences between plans, forecasts, and commitments, urging investors to maintain adequate risk awareness[5]. - The company has a comprehensive risk management strategy outlined in the report, addressing potential market expansion challenges and investment acquisitions[5]. - The company has recognized the risks associated with investment and acquisition, implementing measures to ensure careful project evaluation and integration to mitigate potential operational impacts[140]. Corporate Governance - The company has established a governance structure that complies with relevant laws and regulations, ensuring no unresolved governance issues exist[146]. - The board of directors consists of 9 members, including 3 independent directors, ensuring a reasonable professional structure for effective decision-making[147]. - The supervisory board is composed of 3 members, including 1 employee representative, fulfilling legal requirements and effectively overseeing company operations[148]. - The company adheres to strict information disclosure practices, ensuring timely and accurate communication with investors[151]. - The company maintains complete independence from its controlling shareholder in terms of business operations, personnel, assets, and finances[155]. Environmental and Social Responsibility - The company has a strong focus on environmental and social responsibility, which is detailed in the report's dedicated section[5]. - The company achieved a green energy usage rate of approximately 70% from its solar photovoltaic power station, significantly reducing its carbon footprint[198]. - The company has a green coverage rate of over 40% in its factory area, contributing to environmental beautification and carbon emission reduction[198]. - The company has implemented measures to enhance the presence of independent directors, addressing a previous shortfall in on-site work days[194]. - The company has adopted energy-saving practices, including the use of energy-efficient light bulbs and temperature control in production areas[198]. Strategic Partnerships and Market Expansion - The company has established several subsidiaries and joint ventures to enhance its market presence and operational capabilities in the water management sector[12]. - The company is expanding its market presence by leveraging advanced technologies in the water management sector, aiming for broader applications across various industries[14]. - The company is actively pursuing market expansion through innovative product offerings and strategic partnerships[73]. - The company is exploring various business models to reduce market expansion risks in new products and fields, emphasizing technology research and customer demand understanding[139]. - The company has established long-term stable strategic partnerships with suppliers and customers, ensuring mutual rights protection[200]. Employee and Management Structure - The company has a total of 1,414 employees with varying educational backgrounds, including 1 PhD, 5 Master's degrees, 208 Bachelor's degrees, 392 Associate degrees, and 808 with high school or lower education[180]. - The company has a diverse management team with members having extensive experience in various financial and operational roles[167]. - The company’s supervisory board includes members with significant experience in legal and financial sectors[168]. - The total remuneration paid to directors, supervisors, and senior management in 2021 amounted to 3.3554 million yuan[169]. - The company has a structured decision-making process for remuneration, which is reviewed and approved by the board of directors[169].

Financial Performance - The company's operating revenue for Q3 2021 was ¥233,536,717, a decrease of 14.73% compared to the same period last year[3]. - Net profit attributable to shareholders was ¥50,626,013, down 19.98% year-on-year[3]. - The net profit after deducting non-recurring gains and losses was ¥46,527,483, reflecting a 25.86% decline compared to the previous year[3]. - The company's basic earnings per share decreased by 19.90% to ¥0.0487[3]. - Net profit for Q3 2021 was CNY 140,311,450.95, a decrease of 7.2% from CNY 151,066,600.20 in Q3 2020[21]. - Earnings per share for Q3 2021 were CNY 0.1292, down from CNY 0.1374 in the previous year[22]. - The total comprehensive income for Q3 2021 was CNY 140,311,450.95, compared to CNY 151,066,600.20 in Q3 2020[22]. Cash Flow - The company's cash flow from operating activities showed a net outflow of ¥44,570,019, an improvement of 24.79% from the previous year's outflow[3]. - Cash flow from operating activities showed a net outflow of CNY 44,570,019.46, an improvement from a net outflow of CNY 59,257,850.31 in Q3 2020[24]. - The net cash flow from investment activities was -37,248,997.04 CNY, an improvement from -214,927,008.15 CNY in the same period last year[25]. - Cash inflow from investment activities totaled 605,931,665.07 CNY, compared to 446,530,692.72 CNY in the previous year, marking a 35.6% increase[25]. - Cash outflow from financing activities was 122,739,837.89 CNY, significantly higher than 52,661,663.10 CNY in the same quarter last year[25]. - The net cash flow from financing activities was -98,704,837.89 CNY, worsening from -50,211,663.10 CNY year-over-year[25]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,360,401,724.57, a decrease of 1.03% from the previous year[4]. - The company's total assets as of September 30, 2021, were CNY 2,360,401,724.57, slightly down from CNY 2,385,086,219.36 at the end of 2020[17]. - Current assets decreased to CNY 1,527,596,786.48 from CNY 1,617,557,518.31 year-over-year[17]. - Total liabilities decreased to CNY 247,540,136.85 from CNY 315,501,921.94 year-over-year[19]. - The total liabilities were reported at 315,501,921.94 CNY, showing a minor increase from 315,635,767.61 CNY[30]. - The company reported a total equity of 2,069,584,297.42 CNY, unchanged from the previous year[30]. Investments - The company reported a significant increase in prepayments, up 206.97% to ¥16,940,924.94, due to rising material prices[7]. - Investment cash inflow totaled CNY 605,931,665.07, an increase of 35.70% compared to the previous year[11]. - Investment cash outflow was CNY 643,180,662.11, a decrease of 2.76% year-over-year[11]. - The company reported investment income of CNY 71,800,835.81, up from CNY 45,509,441.16 in the same period last year[20]. Research and Development - Research and development expenses for Q3 2021 were CNY 41,398,066.14, compared to CNY 35,877,922.09 in Q3 2020, reflecting a 15.0% increase[20]. Other Information - The weighted average return on equity was 2.56%, down from 3.40% in the same period last year[3]. - The company executed a new leasing standard, resulting in an adjustment of 133,845.67 CNY for right-of-use assets and lease liabilities[30]. - The company did not conduct an audit for the third quarter report[31].

Financial Performance - The company's operating revenue for Q1 2021 was ¥165,126,256.96, representing a 72.64% increase compared to ¥95,649,514.79 in the same period last year[8] - The net profit attributable to shareholders for Q1 2021 was ¥33,831,210.06, up 63.42% from ¥20,702,375.67 in the previous year[8] - The basic earnings per share for Q1 2021 was ¥0.0325, reflecting a 63.32% increase from ¥0.0199 in the same period last year[8] - The company's operating revenue reached 165.13 million, a year-on-year increase of 72.64%[18] - Net profit attributable to shareholders was 33.83 million, reflecting a growth of 63.42% compared to the previous period[17] - The total profit for Q1 2021 was CNY 35,919,348.67, compared to CNY 23,056,912.07 in the previous year, reflecting a growth of about 55.5%[46] - The net profit for Q1 2021 reached CNY 33,901,254.40, compared to CNY 21,666,907.19 in the same period last year, representing a growth of approximately 56.5%[46] Cash Flow and Assets - The net cash flow from operating activities improved to -¥10,674,361.50, a 42.53% reduction in losses compared to -¥18,575,363.51 in the previous year[8] - The company's cash inflow from operating activities totaled 229.53 million, up 35.23% year-on-year due to increased sales cash receipts[17] - The cash flow from operating activities showed a net outflow of 10.67 million, although this was an improvement from the previous year's outflow of 18.58 million[17] - As of March 31, 2021, the company's cash and cash equivalents amounted to ¥222,123,413.66, a decrease from ¥320,989,646.54 at the end of 2020, representing a decline of approximately 30.7%[36] - The total current assets decreased slightly to ¥1,569,197,248.07 from ¥1,595,136,501.92, indicating a reduction of about 1.6%[36] - The company's accounts receivable stood at ¥575,457,871.13, down from ¥594,542,340.15, reflecting a decrease of approximately 3.2%[36] - The company's inventory increased marginally to ¥229,267,597.58 from ¥227,588,410.12, showing a growth of about 0.7%[36] - The total non-current assets rose to ¥781,059,579.34 from ¥766,673,947.73, indicating an increase of approximately 1.8%[37] Investments and Expenditures - The total amount of cash outflow from investment activities was 372.59 million, an increase of 18.30% due to investments in financial products[17] - The company invested 260,415,000.00 yuan in cash payments for investments, up from 150,000,000.00 yuan in the same period last year, marking a 73.6% increase[58] - The company received 30,000,000.00 yuan from investment recoveries, indicating a new source of cash inflow[57] - The company reported an investment income of CNY 18,722,418.45 for Q1 2021, up from CNY 11,254,860.78 in the previous period[45] Research and Development - Research and development expenses increased by 41.76%, amounting to 14.11 million, indicating a focus on innovation[17] - Research and development expenses for Q1 2021 were CNY 14,114,441.66, compared to CNY 9,956,473.76 in the previous period, indicating an increase in investment in innovation[45] - The company is committed to continuous innovation and product optimization, transitioning to non-magnetic sensing methods for smart products[23] - The company has established a technical innovation incentive system to enhance its R&D capabilities and maintain competitive advantages[24] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 43,191[12] - The largest shareholder, Jiangxi Sanchuan Group Co., Ltd., held 40.84% of the shares, totaling 424,744,566 shares[12] - The net assets attributable to shareholders increased by 1.85% to ¥1,974,310,137.41 from ¥1,938,507,238.86 at the end of the previous year[8] - The company's equity attributable to shareholders increased to CNY 1,856,412,323.62 from CNY 1,826,876,705.80[42] Market Strategy and Operations - The company secured a significant contract with Beijing Water Group for household remote water meter procurement and installation, valued at 53.53 million[18] - The company aims to streamline the division of labor between headquarters and subsidiaries to enhance production efficiency and reduce management costs[22] - The company plans to launch mass production of ultrasonic smart water meters to address both domestic and international markets[23] - The company intends to establish marketing sub-centers in first-tier cities to expand market reach and increase product sales[23] - The company is focusing on promoting NB-IoT smart water meters to mitigate risks associated with cyclical fluctuations in the real estate industry[24] - The company recognizes the risks associated with market expansion into new product areas and is actively exploring various business models to mitigate these risks[25] Risks and Challenges - The company's gross profit margin was impacted by a cost increase of 80.34%, which outpaced revenue growth[16] - The company is cautious about investment and acquisition risks, employing careful project evaluation and integration strategies[26] - The company has committed to not engaging in any business that competes with its operations, ensuring no new competitive entities are established[28] Audit and Reliability - The first quarter report was not audited, which may affect the reliability of the financial data presented[59]

Financial Performance - The company's operating revenue for 2020 was approximately ¥938.32 million, a decrease of 4.98% compared to ¥987.50 million in 2019[19]. - The net profit attributable to shareholders for 2020 was approximately ¥212.73 million, an increase of 11.17% from ¥191.35 million in 2019[19]. - The net cash flow from operating activities increased significantly by 226.67% to approximately ¥52.38 million in 2020, compared to ¥16.03 million in 2019[19]. - The total assets at the end of 2020 were approximately ¥2.36 billion, reflecting a growth of 7.91% from ¥2.19 billion at the end of 2019[19]. - The company's basic earnings per share for 2020 was ¥0.2045, up 11.14% from ¥0.1840 in 2019[19]. - The weighted average return on equity for 2020 was 11.53%, slightly up from 11.39% in 2019[19]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching approximately ¥193.45 million, a 13.67% increase from ¥170.19 million in 2019[19]. - The company reported a net profit of ¥186,042,195.29 for the year 2020, after deducting the legal surplus reserve of ¥18,604,219.53[138]. - The total distributable profit available for shareholders at the end of the year was ¥569,893,119.41[138]. - The cash dividend amount for 2020 represented 19.56% of the net profit attributable to ordinary shareholders[139]. Market Expansion and Strategy - The company has a comprehensive strategy for market expansion, including potential mergers and acquisitions to enhance its competitive position[5]. - The company aims to become a world-leading provider of water metering services and smart water solutions, focusing on IoT water meters and water management systems[29]. - The company is focusing on expanding its market presence through new product development and strategic partnerships[81]. - Market expansion efforts include entering three new provinces, aiming to increase market share by 10% in these regions[54]. - The company plans to invest 50 million RMB in technology upgrades to improve production efficiency and product quality[54]. - The company is exploring potential mergers and acquisitions to enhance its competitive edge in the market[197]. Research and Development - The company is focusing on the development of IoT water meters, which utilize NB-IoT technology for improved data transmission reliability and cost reduction[11]. - The company is committed to continuous innovation in product development, particularly in smart water meters and related technologies[11]. - The company has a strong technical innovation capability, with over 250 R&D personnel focused on developing NB-IoT water meters, non-magnetic water meters, and ultrasonic water meters[50]. - The company reported a significant focus on R&D, with multiple new product designs aimed at enhancing user experience and operational efficiency, such as a camera-based remote reading water meter[52]. - New product development initiatives are underway, with an investment of 31.24 million allocated for R&D in 2020[195]. Technological Innovation - The company is leveraging new technologies such as IoT, big data, and cloud computing to enhance its water management systems, improving operational efficiency for clients[40]. - The company has developed a comprehensive smart water management system that includes various functionalities such as digital water supply and real-time monitoring[19]. - The company aims to lead the transformation of smart water meters towards informatization, systematization, and integration[126]. - The company has established a technical innovation and development incentive system to enhance its R&D capabilities and maintain competitive advantages[126]. Risks and Challenges - The company faces risks related to cyclical fluctuations in the real estate industry, technological innovation, and market expansion challenges[5]. - The company acknowledges the need for risk awareness among investors regarding future plans and performance forecasts[5]. - The company recognizes the cyclical risks associated with the real estate industry, which could impact revenue, and plans to promote NB-IoT smart water meters to mitigate these risks[125]. - The company recognizes the risks associated with investments and acquisitions, focusing on careful project evaluation and integration strategies[128]. Corporate Governance and Shareholder Relations - The company has ensured that the rights of minority shareholders are fully protected in the dividend distribution process[138]. - The independent directors have fulfilled their responsibilities and provided independent opinions on the dividend distribution plan[138]. - The company has maintained a consistent cash dividend policy, with previous payouts of ¥0.20 and ¥0.5 per 10 shares in 2018 and 2019, respectively[139]. - The company has not made any adjustments or changes to its cash dividend policy during the reporting period[135]. - The company has not engaged in any significant related party transactions during the reporting period[155]. Social Responsibility and Compliance - The company emphasizes social responsibility, focusing on employee welfare, environmental protection, and customer satisfaction[167][169]. - The company adheres to ISO14001 environmental management standards, ensuring compliance with environmental regulations[171]. - The company has implemented various employee training programs to enhance skills and career development[168]. Future Outlook - Future outlook indicates a projected revenue growth of 20% for the next fiscal year, driven by market expansion and new product launches[54]. - The company has set a performance guidance for the next fiscal year, aiming for a revenue growth of 15%[197]. - The company plans to streamline its organizational structure to enhance production efficiency and reduce management costs, focusing on high-end and intelligent product manufacturing[122].