投资者关系活动记录表 证券代码：300129 上海泰胜风能装备股份有限公司-投资者关系活动记录 上海泰胜风能装备股份有限公司 | --- | --- | --- | --- | --- | |-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

投资者关系活动记录表 证券代码：300129 上海泰胜风能装备股份有限公司-投资者关系活动记录 上海泰胜风能装备股份有限公司 | --- | --- | --- | --- | |-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------- ...

Group 1: Industry Outlook - The wind power industry has significant development potential both domestically and globally, with a positive outlook for 2021 [2] - The company anticipates a strong demand for onshore wind power and expects rapid growth in offshore wind power due to the "抢装年" (rush installation year) [2] - The company is optimistic about the domestic wind power market during the "14th Five-Year Plan" period, supported by government policies on carbon emissions [2] Group 2: Product Offerings - The company manufactures a wide range of products for both onshore and offshore wind power, including large diameter segmented towers and various offshore components [2] - Offshore wind power products require higher corrosion resistance and larger structures compared to onshore towers [2] - The company is actively exploring emerging markets in Southeast Asia, Central Asia, Australia, Africa, and South America [2] Group 3: Market Dynamics - Recent price fluctuations in raw materials have impacted the pricing of onshore wind towers, with a recent decline in prices due to stable steel prices and lower costs for flanges and internal components [2] - The company employs a cost-plus pricing model, allowing it to manage risks associated with raw material price volatility effectively [2] - The company is considering expanding production capacity in response to market demands, particularly in regions with higher electricity prices [3] Group 4: Production Strategy - The company is seeking suitable production bases in the Guangdong and Fujian regions for offshore wind power, while also establishing new partnerships in Zhejiang and Jiangsu to meet current market demands [3] - Entry barriers for manufacturers in the offshore wind power sector include the need for suitable assets, technical expertise, and project management experience [3]

Financial Performance - The company's revenue for Q3 2022 was ¥844,607,119.40, a decrease of 11.11% compared to the same period last year[6]. - Net profit attributable to shareholders was ¥66,135,222.62, an increase of 147.22% year-on-year[6]. - The net profit after deducting non-recurring gains and losses reached ¥116,328,767.83, up 408.26% from the previous year[6]. - The company reported total operating revenue of 2,122,634,871.05 RMB for the current period, a decrease of 9.4% compared to 2,344,170,985.25 RMB in the previous period[36]. - Net profit for the period was ¥165,634,475.83, down from ¥203,784,541.30, indicating a decline of approximately 18.69%[39]. - The total profit decreased from ¥242,201,328.35 to ¥196,564,851.31, a decline of about 18.88%[39]. - The total comprehensive income attributable to the parent company was ¥160,780,504.63, down from ¥205,755,470.41, a decline of approximately 22.00%[42]. Assets and Liabilities - Total assets at the end of the reporting period were ¥6,801,096,997.70, representing a 17.14% increase from the end of the previous year[6]. - Total current assets reached 5,487,996,122.23 RMB, up from 4,566,093,558.43 RMB, indicating an increase of about 20.2%[33]. - The total liabilities decreased to 2,849,271,104.69 RMB from 3,028,266,628.16 RMB, showing a reduction of approximately 5.9%[35]. - The company's total assets increased to 6,801,096,997.70 RMB from 5,806,168,349.95 RMB, reflecting a growth of about 17.1%[35]. Cash Flow - The net cash flow from operating activities decreased by 1,860.87% year-on-year, mainly due to increased cash outflows for purchasing goods and services[13]. - Cash inflow from operating activities totaled ¥2,837,266,044.52, slightly down from ¥2,866,786,300.28, a decrease of about 1.03%[43]. - Cash flow from operating activities showed a net outflow of -580,708,946.91, compared to a net inflow of 32,978,565.52 in the previous period[46]. - Total cash inflow from investment activities was 655,446,933.87, down from 1,633,170,012.36 in the prior period[46]. - Cash outflow from investment activities totaled 884,604,547.98, compared to 1,533,801,163.87 previously[46]. - Financing activities generated a net cash inflow of 1,213,928,863.13, a significant increase from a net outflow of -70,075,121.57 in the last period[46]. - The company received 1,080,887,339.76 in cash from investment absorption, indicating strong investor interest[46]. - Cash and cash equivalents increased by 81.55% compared to the beginning of the year, mainly due to an investment of ¥1.08 billion from Guangzhou Kaide Investment Holdings[11]. - Cash and cash equivalents at the end of the period reached 768,100,781.47, up from 423,974,759.49 at the end of the previous period[46]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 56,137[19]. - The largest shareholder, Guangzhou Kaide Investment Holding Co., Ltd., holds 26.93% of shares, totaling 251,779,903 shares[19]. - The company’s major shareholders include individuals with significant stakes, such as Liu Zhicheng (4.67%) and Huang Jingming (4.17%)[19]. - The company had a unified action relationship among five shareholders, which was dissolved on July 20, 2022[22]. - The company’s stockholder Chen Xiankang holds 3,800,000 shares through a margin trading account[22]. Operational Changes - The company decided to change the use of raised funds, redirecting 80 million RMB originally intended for a wind turbine project to a new project with an annual production capacity of 250,000 tons of tower frames[25]. - The company plans to sell its Canadian subsidiary's assets, with a minimum transaction price of 14.5467 million CAD based on an asset appraisal[26]. - The company’s board of directors approved the sale of assets from its Canadian subsidiary during a meeting on August 16, 2022[26]. - The company established a wholly-owned subsidiary in Guangzhou with a registered capital of 100 million RMB and another with 10 million RMB[5]. Research and Development - Research and development expenses increased significantly from ¥79,629,710.06 to ¥102,327,036.89, representing a growth of about 28.54%[39].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,278,027,751.65, a decrease of 8.32% compared to ¥1,394,013,470.00 in the same period last year[27]. - The net profit attributable to shareholders of the listed company was ¥100,363,147.48, down 43.79% from ¥178,561,231.84 year-on-year[27]. - The basic earnings per share decreased by 46.48% to ¥0.1329 from ¥0.2483 in the previous year[27]. - The total operating revenue for the period was 1.278 billion yuan, down 8.32% year-on-year, with offshore wind equipment revenue dropping 88.88% to 97.24 million yuan, while onshore wind product revenue increased 147.99% to 1.145 billion yuan[54]. - The net profit attributable to the parent company for the reporting period was 100.36 million yuan, a decrease of 43.79% year-on-year, primarily due to production disruptions caused by the pandemic and a downturn in the offshore wind market[54]. Assets and Liabilities - The total assets at the end of the reporting period were ¥6,599,795,535.66, an increase of 13.67% compared to ¥5,806,168,349.95 at the end of the previous year[27]. - The net assets attributable to shareholders of the listed company increased by 42.08% to ¥3,918,956,253.65 from ¥2,758,273,486.24 at the end of the previous year[27]. - The company's cash and cash equivalents at the end of the reporting period amounted to ¥1,815,018,127.02, representing 27.50% of total assets, up from 11.61% last year[79]. - Accounts receivable decreased by 8.37% to ¥1,667,669,576.00, down from ¥1,953,152,373.68 in the previous year[79]. - Inventory increased to ¥1,587,797,932.35, accounting for 24.06% of total assets, compared to 26.00% last year[79]. Cash Flow - The net cash flow from operating activities was negative at -¥159,907,004.66, compared to ¥165,750,130.06 in the same period last year, representing a decline of 317.86%[27]. - The net cash flow from financing activities was ¥1,295,330,825.99, a substantial increase compared to -¥65,722,660.17 in the same period last year, driven by cash received from investments[69]. - The company reported a net increase in cash and cash equivalents of ¥1,075,735,100.81, a remarkable rise of 7,857.90% from ¥13,517,825.05 in the previous year[69]. Investment and Development - Research and development expenses increased by 38.16% to ¥61,739,940.98 from ¥44,687,660.30 in the previous year, reflecting the company's commitment to product innovation[69]. - The company is focused on expanding its market presence and developing new technologies in the wind energy sector[5]. - The company is actively developing new customers in overseas markets, particularly in Australia, South America, and Southeast Asia, with significant growth in overseas orders noted[53]. - The company aims to integrate resources and optimize capacity allocation while controlling investment risks to expand production capacity sustainably[59]. - The company has invested CNY 910.04 million in the 3-10MW offshore wind equipment manufacturing technical transformation project, achieving 100% progress[93]. Market and Industry Outlook - The company is optimistic about the long-term stable development of the wind power market, despite short-term cost pressures and competition in the domestic wind turbine manufacturing industry[44]. - The offshore wind power sector in China is experiencing rapid growth, with the country becoming the largest in the world for offshore wind installed capacity[45]. - The average cost of offshore wind power globally has decreased by 67.5% from 2012 to 2020, with projections to reach 58 USD/MWh by 2025, indicating a favorable trend for the industry[47]. - The offshore wind power market in China is expected to see significant growth, with various provinces setting ambitious development targets, such as Shandong aiming for 10 GW of new offshore wind capacity by 2025[48]. Risks and Challenges - The company faces risks including significant fluctuations in raw material prices and project contract delays[5]. - The company is exposed to project contract delays, which could increase funding costs and hinder production progress[123]. - The competitive pressure in the wind power equipment sector remains high, prompting the company to focus on product quality and brand recognition[127]. - The company has adopted a sales-driven production model to mitigate the impact of raw material price volatility[123]. Corporate Governance and Compliance - The company has maintained compliance with environmental regulations, with no significant environmental pollution incidents or administrative penalties reported during the period[144]. - The company has implemented strict compliance with labor laws and maintains a reasonable compensation policy, ensuring employee rights and a healthy work environment[150]. - The company has established a decision-making and supervision system to protect the rights of shareholders and creditors[145]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[163]. Shareholder and Capital Management - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company reported a total cash dividend distribution of 56,093,953.92 RMB (including tax) for the fiscal year 2021, which was implemented on August 12, 2022[146]. - The company raised a total of RMB 1,080,887,339.76, with a net amount of RMB 1,064,832,625.43 after deducting issuance costs[178]. - The company’s total share capital increased by 215,745,976 shares due to the issuance to specific investors[200].

Financial Performance - The company's revenue for Q1 2022 was ¥557,363,528.65, representing a 58.03% increase compared to ¥352,704,749.08 in the same period last year[3]. - Net profit attributable to shareholders decreased by 18.15% to ¥62,445,815.07 from ¥76,288,465.19 year-on-year[3]. - The company's net profit for the current period is CNY 60,727,971.72, a decrease of 20.8% compared to CNY 76,636,258.36 in the previous period[29]. - Operating profit for the current period is CNY 72,240,174.42, down 21.2% from CNY 91,596,074.65 in the previous period[29]. - Total profit for the current period is CNY 71,854,261.09, a decline of 21.3% compared to CNY 91,391,813.85 in the previous period[29]. - The company's basic and diluted earnings per share are both CNY 0.0868, down from CNY 0.1061 in the previous period[29]. - The total comprehensive income attributable to the parent company is CNY 63,029,996.52, a decrease from CNY 78,091,005.68 in the previous period[29]. Cash Flow - The net cash flow from operating activities was negative at ¥-311,465,744.64, a decline of 490.51% compared to ¥-52,745,277.02 in the previous year[3]. - Cash flow from operating activities shows a net outflow of CNY -311,465,744.64, worsening from CNY -52,745,277.02 in the previous period[33]. - Cash flow from investing activities results in a net outflow of CNY -30,922,892.63, compared to CNY -5,714,197.16 in the previous period[36]. - Cash flow from financing activities shows a net inflow of CNY 159,879,832.33, improving from a net outflow of CNY -216,833.32 in the previous period[36]. - The company received CNY 656,021,238.33 in cash from sales of goods and services, down from CNY 852,386,323.94 in the previous period[33]. - The ending balance of cash and cash equivalents is CNY 172,404,059.16, down from CNY 304,640,828.56 in the previous period[36]. Assets and Liabilities - The total assets at the end of Q1 2022 were ¥5,678,074,632.07, a decrease of 2.21% from ¥5,806,168,349.95 at the end of the previous year[3]. - Total liabilities decreased to CNY 2,838,861,353.50 from CNY 3,028,266,628.16, reflecting improved financial stability[22]. - The total equity attributable to shareholders increased to CNY 2,821,303,482.76 from CNY 2,758,273,486.24, indicating growth in shareholder value[25]. - Inventory increased to CNY 1,600,369,421.13 from CNY 1,509,687,961.12, suggesting potential for future sales growth[22]. - Accounts receivable rose to CNY 1,979,996,755.96 from CNY 1,953,152,373.68, indicating a stable collection process[22]. Research and Development - Research and development expenses increased by 92.31% to ¥20,359,067.09 from ¥10,586,376.25 year-on-year, indicating a significant investment in product development[7]. - Research and development expenses were CNY 20,359,067.09, significantly higher than CNY 10,586,376.25 in the previous period, indicating increased investment in innovation[26]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 67,341, with the top 10 shareholders holding significant stakes[11]. - Liu Zhicheng holds 8.09% of shares, amounting to 58,158,622 shares, while Huang Jingming holds 7.23%, totaling 51,966,456 shares[11]. - The total number of shares held by the top 10 unrestricted shareholders is 62,000,000 shares[11]. - The company has a total of 43,618,966 shares under management lock-up for Liu Zhicheng and Huang Jingming, with no shares released during the reporting period[14]. - The total number of restricted shares at the beginning of the period was 141,775,098, with 6,414,955 shares released during the period[14]. Orders and Subsidiaries - The company established a wholly-owned subsidiary in Yangzhou, Jiangsu Province, with a registered capital of RMB 500 million[15]. - The total value of executed and pending orders is RMB 265.195 million, with domestic orders accounting for RMB 118.581 million and foreign orders RMB 146.614 million[15]. - New orders in the onshore wind power category amounted to RMB 26.658 million, while offshore wind power orders completed were RMB 3.382 million[15]. - The company completed RMB 28.323 million in domestic orders during the reporting period[15]. Government Support - The company received government subsidies amounting to ¥5,978,841.42 during the reporting period[4]. Future Outlook - Future outlook includes continued focus on market expansion and product innovation to drive revenue growth[26].

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB in 2021, representing a year-on-year growth of 25%[22] - The company's operating revenue for 2021 was ¥3,852,691,830.69, representing a 6.90% increase from ¥3,603,968,481.77 in 2020[29] - The net profit attributable to shareholders for 2021 was ¥258,534,053.21, a decrease of 25.87% compared to ¥348,765,062.40 in 2020[29] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥231,266,232.16, down 28.24% from ¥322,292,279.17 in 2020[29] - The total assets at the end of 2021 were ¥5,806,168,349.95, a 19.63% increase from ¥4,853,279,411.37 at the end of 2020[29] - The net assets attributable to shareholders at the end of 2021 were ¥2,758,273,486.24, reflecting a 6.55% increase from ¥2,588,606,700.21 at the end of 2020[29] - The company achieved a net profit of 258.53 million yuan, a decrease of 25.87% compared to the previous year, primarily due to rising raw material prices affecting gross margins[64] - Total revenue for the reporting period was 3.85 billion yuan, an increase of 6.90% year-on-year, with onshore wind equipment revenue decreasing by 28.54% to 1.88 billion yuan, while offshore wind equipment revenue surged by 102.80% to 1.88 billion yuan[64] Market Expansion and Strategy - User data indicates that the company has expanded its customer base by 15%, reaching a total of 300 clients in the renewable energy sector[22] - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[22] - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance the company's production capacity by 30%[22] - The company is focusing on expanding its overseas market presence, particularly in Australia, South America, and Southeast Asia, while maintaining its domestic business[54] - The company has established strong partnerships with major global manufacturers, enhancing its brand reputation in the wind energy sector[61] Research and Development - The company has allocated 100 million RMB for research and development in 2022, focusing on innovative wind energy technologies[22] - The company has invested in R&D, resulting in over 200 valid patents in wind energy and marine engineering, demonstrating its commitment to innovation[62] - The company’s R&D investment in 2021 amounted to ¥188,452,153.91, representing 4.89% of total revenue, an increase from 4.20% in 2020[106] - The number of R&D personnel increased by 5.75% from 174 in 2020 to 184 in 2021, with R&D personnel now accounting for 20.38% of the total workforce[106] Operational Challenges and Risks - The company faces risks including raw material price volatility, which could impact profit margins by up to 15%[5] - Management emphasizes the importance of adapting to changing industry policies, which could affect operational strategies moving forward[5] Production and Capacity - The company has completed the connection and began generating power from its 50MW wind power project in Song County, marking its first operational wind farm[72] - The company’s production capacity is strategically located in resource-rich areas, which helps reduce transportation costs and improve competitiveness[63] - The company has a total of 3.31 billion yuan in executing and pending orders, with onshore wind orders at 2.75 billion yuan and offshore wind orders at 502.12 million yuan[66] Financial Management and Investments - The company plans to issue 215,745,976 shares at a price of ¥5.01 per share to raise funds for specific projects[67] - The company has not experienced any significant changes in the measurement attributes of its major assets during the reporting period[120] - The total investment amount for the reporting period was 1,867,039,705.67, a decrease of 32.63% compared to the previous year[124] - The company utilized RMB 4,500 million to repay bank loans and RMB 24,505.3 million for working capital, achieving 110.05% of the planned investment for working capital[130] Industry Trends and Outlook - The company maintains a positive outlook on the long-term stable development of the wind power market, supported by policy and technological advancements[43] - The wind power generation capacity in China reached 328.48GW by the end of 2021, with a total generation of 655.6 billion kWh, a 40.5% increase year-on-year[40] - The company anticipates continued strong development in offshore wind power installations due to supportive government policies and market demand[49] Product Development - New product development includes the launch of a next-generation wind turbine, expected to increase efficiency by 20% compared to previous models[22] - The company is developing the V150-4.2MW-175m cable-stayed tower, which is the world's first of its kind, aimed at reducing material costs and transportation costs[91] - The EN148 offshore wind turbine tower is in the pilot stage, with a maximum diameter of 5,500mm and a total height of 81 meters, expected to account for over 40% of the company's main product output value upon successful development[94] Customer and Supplier Relations - The top five customers contributed a total sales amount of ¥1,681,737,790.56, accounting for 43.65% of the annual total sales[86] - The top five suppliers accounted for a total procurement amount of ¥1,526,150,725.42, representing 37.95% of the annual total procurement[89]

Financial Performance - The company's revenue for Q3 2021 was ¥950,157,515.25, a decrease of 13.02% compared to the same period last year[3]. - Net profit attributable to shareholders for Q3 2021 was ¥26,751,867.46, down 75.88% year-on-year[3]. - The net profit after deducting non-recurring gains and losses was ¥22,887,861.81, a decrease of 77.46% compared to the previous year[3]. - Total revenue for the period reached ¥2,344,170,985.25, an increase of 4.9% compared to ¥2,235,105,281.15 in the previous period[26]. - The company's net profit attributable to shareholders increased to ¥1,216,911,923.53, compared to ¥1,083,582,435.43 in the previous period, marking a growth of 12.3%[25]. - The net profit for the current period is CNY 203,784,541.30, a decrease of 12.5% compared to CNY 232,901,529.15 in the previous period[29]. - The total profit for the current period is CNY 242,201,328.35, down from CNY 283,046,876.43, reflecting a decline of 14.4%[29]. - Operating profit decreased to CNY 243,545,216.57 from CNY 283,950,434.53, representing a drop of 14.3%[29]. - The total comprehensive income attributable to the parent company is CNY 205,755,470.41, compared to CNY 223,854,689.12, a decline of 8.1%[29]. Assets and Liabilities - The total assets at the end of the reporting period were ¥5,496,165,902.72, an increase of 13.25% from the end of the previous year[3]. - Total assets reached ¥5,496,165,902.72, compared to ¥4,853,279,411.37, reflecting an increase of 13.3%[25]. - Current liabilities totaled ¥2,702,546,719.26, an increase from ¥2,201,453,409.59, representing a growth of 22.8%[22]. - Total liabilities reached approximately CNY 2.24 billion, a decrease of CNY 5.65 million compared to the previous period[43]. - Total equity attributable to shareholders increased to ¥2,722,378,559.42 from ¥2,588,606,700.21, reflecting a growth of 5.2%[25]. - Total equity attributable to shareholders of the parent company was approximately CNY 2.59 billion, with a minor decrease of CNY 68,285.60 compared to the previous period[43]. Cash Flow - The cash flow from operating activities for the year-to-date was ¥32,978,565.52, an increase of 122.33% compared to the same period last year[3]. - Cash flow from operating activities increased to CNY 2,866,786,300.28, compared to CNY 2,579,472,249.84 in the previous period, marking an increase of 11.1%[33]. - Cash flow from investing activities showed a net inflow of CNY 99,368,848.49, a significant improvement from a net outflow of CNY 8,740,152.73 in the previous period[36]. - The cash and cash equivalents at the end of the period amounted to CNY 423,974,759.49, up from CNY 300,970,630.67, indicating a growth of 40.8%[36]. - The cash and cash equivalents as of September 30, 2021, amount to 772,562,648.72 RMB, an increase from 639,833,653.94 RMB at the end of 2020[16]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 75,099[12]. - The top shareholder, Liu Zhicheng, holds 8.09% of shares, totaling 58,158,622 shares[12]. - The top ten shareholders include significant individual shareholders, with the second-largest, Huang Jingming, holding 7.23%[12]. - The company plans to transfer 36,033,927 shares, representing 5.011% of total shares, to Guangzhou Kaide Investment Holdings[15]. - The company’s actual controller team is set to change to Guangzhou Economic and Technological Development Zone Management Committee upon completion of the share transfer[15]. Inventory and Orders - The company reported a significant increase in inventory, with a balance up 63.35% year-on-year due to increased order execution[7]. - The company has executed and pending orders totaling 393,463,000 RMB, with land-based wind power orders at 299,084,000 RMB[15]. - Domestic orders added 135,661,000 RMB year-to-date, with 232,210,000 RMB in execution and pending[15]. - The offshore wind power orders added 8,398,000 RMB year-to-date, with 89,170,000 RMB in execution and pending[15]. - Inventory levels increased significantly to ¥1,653,077,319.00, up from ¥1,011,983,188.04, indicating a growth of 63.4%[19]. Other Income and Expenses - The company received government subsidies amounting to ¥1,661,958.12 in the current period, totaling ¥16,210,817.22 year-to-date[4]. - The company’s financial expenses decreased by 53.59% year-on-year, attributed to reduced foreign exchange losses[7]. - The company’s other income increased by 33.65% year-on-year, mainly due to an increase in government subsidies received[7]. - The company reported a decrease in research and development expenses to ¥79,629,710.06 from ¥73,066,955.15, a rise of 9.5% year-over-year[26]. General Remarks - The third quarter report was not audited, indicating that the figures may be subject to change upon final review[47]. - The report did not provide specific guidance on future performance or market expansion strategies[45]. - The company has not disclosed any new product launches or technological advancements in this report[45].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,394,013,470, representing a 21.99% increase compared to CNY 1,142,740,847 in the same period last year[30]. - The net profit attributable to shareholders for the first half of 2021 was CNY 178,561,231.84, a 54.96% increase from CNY 115,229,848.89 in the previous year[30]. - The net cash flow from operating activities reached CNY 73,397,554.53, showing a significant increase of 1,031.06% compared to CNY 6,489,251.42 in the same period last year[30]. - The basic earnings per share for the first half of 2021 was CNY 0.2483, up 54.99% from CNY 0.1602 in the previous year[30]. - Total assets at the end of the reporting period were CNY 5,041,595,532.61, reflecting a 3.88% increase from CNY 4,853,279,411.37 at the end of the previous year[30]. - The net assets attributable to shareholders increased to CNY 2,695,240,364.66, a 4.12% rise from CNY 2,588,606,700.21 at the end of the previous year[30]. - The weighted average return on equity for the first half of 2021 was 6.67%, an increase of 1.79% compared to 4.88% in the previous year[30]. - The net profit after deducting non-recurring gains and losses was CNY 165,750,130.06, a 59.43% increase from CNY 103,963,138.28 in the same period last year[30]. Market and Industry Insights - In the first half of 2021, China's wind power installed capacity reached 292GW, with 10.84GW of new installations, indicating a growing market[44]. - The wind power generation in China for the first half of 2021 was 344.18 billion kWh, representing a year-on-year increase of 44.6%[44]. - The company anticipates a 25% reduction in onshore wind power costs by 2030 compared to 2018 levels, driven by marketization and technological innovations[50]. - The national renewable energy power consumption responsibility weight is expected to increase from 28.7% in 2021 to 40% by 2030, indicating a supportive policy environment for the industry[47]. - The company is optimistic about the long-term stable development of the wind power market despite short-term cost pressures from the manufacturing sector[50]. Business Strategy and Operations - The company plans to maintain its competitive position in the domestic wind tower industry by enhancing market layout and promoting industrial upgrades[50]. - The company plans to expand its offshore wind power business and enhance market operations to fully leverage production capacity in response to the offshore wind power installation surge[59]. - The company aims to complete its first wind power plant's installation and grid connection in 2021, marking a significant milestone in its business expansion strategy[63]. - The company is focusing on maintaining and developing overseas markets while enhancing cooperation with core clients to boost its international presence[62]. - The company has established long-term partnerships with numerous domestic and international manufacturers, enhancing its brand reputation in the wind power equipment sector[67]. Financial Management and Investments - The company has strengthened accounts receivable management, leading to a decrease in expected loss rates and positively impacting net profit[57]. - The company reported a total non-operating income of ¥12,811,101.78 after accounting for various deductions, including tax impacts and minority interests[37]. - The company has committed a total investment of CNY 33,000 million for various projects, with a cumulative investment of CNY 26,906.73 million by the end of the reporting period, achieving an investment progress of 81.5%[90]. - The company has reported a credit impairment loss of CNY 52.41 million, accounting for 24.99% of total profit, mainly due to provisions for bad debts[76]. - The company has a total of CNY 305.87 million in restricted cash, primarily due to bank guarantees and deposits[85]. Risks and Challenges - The company faces various risks including raw material price fluctuations, project delays, and market competition[6]. - The company faces risks from significant fluctuations in raw material prices, particularly steel, which is a major cost component[129]. - The company is enhancing project and customer credit assessments to reduce risks associated with project delays[133]. - The company is actively establishing a more scientific management system to address the complexities of cross-regional and cross-national operations[135]. - The company plans to adjust its business scope in response to potential adverse policy changes affecting the wind power and marine engineering industries[137]. Corporate Governance and Compliance - The company has not reported any administrative penalties due to environmental issues during the reporting period[153]. - The company has not engaged in any major related party transactions during the reporting period[166]. - The company has not undergone any bankruptcy restructuring during the reporting period[161]. - The company has not issued any non-standard audit reports for the current or previous periods[160]. - The company has not reported any overdue amounts or impairment losses related to entrusted financial management[107]. Shareholder Information - The total number of shares before the recent change was 719,153,256, with 21.39% being limited shares and 78.61% being unrestricted shares[193]. - The number of limited shares decreased by 12,048,258, resulting in a total of 141,775,098 limited shares, which is 19.71% of the total[193]. - The number of unrestricted shares increased by 12,048,258, leading to a total of 577,378,158 unrestricted shares, which is 80.29% of the total[193]. - The total number of shareholders at the end of the reporting period was 64,364[197]. - The largest shareholder, Liu Zhicheng, holds 8.09% of the shares, totaling 58,158,622 shares[197].

Financial Performance - The company's operating revenue for Q1 2021 was ¥352,704,749.08, representing a 37.50% increase compared to ¥256,515,817.49 in the same period last year[9]. - Net profit attributable to shareholders for Q1 2021 reached ¥76,288,465.19, a significant increase of 416.88% from ¥14,759,377.79 in the previous year[9]. - The net profit after deducting non-recurring gains and losses was ¥69,672,944.75, up 613.39% from ¥9,766,429.47 year-on-year[9]. - Basic earnings per share for Q1 2021 were ¥0.1061, reflecting a 417.56% increase from ¥0.0205 in the same period last year[9]. - The weighted average return on equity was 2.90%, an increase of 2.26% compared to 0.64% in the previous year[9]. - Total operating revenue for the first quarter was CNY 352,704,749.08, compared to CNY 256,515,817.49 in the previous period, representing an increase of approximately 37.5%[74]. - The net profit for the period was CNY 76,636,258.36, compared to CNY 14,866,842.44 in the previous period, reflecting a significant increase of approximately 415.5%[79]. - Total comprehensive income amounted to ¥78,438,798.85, up from ¥11,707,510.67 in the previous period[81]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4,718,649,041.89, a decrease of 2.77% from ¥4,853,279,411.37 at the end of the previous year[9]. - The total assets decreased to CNY 3,795,409,855.10 from CNY 3,905,868,757.38, a decline of about 2.8%[72]. - Total liabilities decreased to ¥2,026,856,224.48 from ¥2,239,360,124.91, reflecting a reduction of approximately 9.5%[62]. - The total liabilities decreased to CNY 1,685,621,508.47 from CNY 1,846,536,617.82, a reduction of approximately 8.7%[72]. - The total equity increased to CNY 2,109,788,346.63 from CNY 2,059,332,139.56, an increase of about 2.4%[72]. Cash Flow - The company reported a net cash flow from operating activities of -¥52,745,277.02, improving from -¥355,365.79 in the same period last year[9]. - The cash flow from operating activities showed a net outflow of 52.75 million, indicating increased working capital requirements due to business order fulfillment[25]. - The total cash outflow from operating activities increased by 47.02% to 1,087.20 million, primarily due to higher payments for goods and services[25]. - The net cash inflow from operating activities was ¥1,034,454,465.81, compared to ¥739,147,908.91 in the previous period, highlighting improved cash flow[88]. - The cash inflow from operating activities was 723,828,553.04, while cash outflow was 709,582,506.90, resulting in a net cash flow of 14,246,046.14[95]. Investments and Projects - The investment in the 3~10MW offshore wind energy equipment manufacturing project has reached 100% completion, with a total investment of 15,000 million[41]. - The investment in the 3~5MW heavy wind turbine tower manufacturing project has also reached 100% completion, with a total investment of 10,000 million[41]. - The investment in the 3~10MW offshore wind turbine tower heavy equipment manufacturing base project has reached 108.96% of the planned investment, totaling 21,290.41 million[41]. - The company is focusing on the construction of its first wind farm, aiming to complete installation and grid connection[30]. - The company is actively seeking to transition to higher-end manufacturing and smart manufacturing industries[30]. Risks and Challenges - The company faces risks from significant fluctuations in raw material prices, particularly steel, which is a major cost component[34]. - The company is addressing potential project delays in wind power and marine engineering by strengthening project and customer credit assessments[35]. - The company is aware of the risks associated with entering new business areas and is implementing management systems to mitigate these risks[36]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 66,884[14]. - The company has not engaged in any non-compliance external guarantees during the reporting period[50]. - There were no non-operational fund occupations by controlling shareholders or related parties during the reporting period[51]. Research and Development - The company reported a significant increase in research and development expenses to CNY 10,586,376.25 from CNY 7,586,417.93, an increase of approximately 39.5%[77].