Financial Performance - Operating revenue for the reporting period was CNY 291,187,498.72, down 37.26% year-on-year[8]. - Net profit attributable to shareholders was a loss of CNY 297,057,584.06, representing a decline of 592.72% compared to the same period last year[8]. - Basic earnings per share were -CNY 0.1993, a decrease of 592.10% year-on-year[8]. - The net cash flow from operating activities was -CNY 32,850,034.58, down 116.18% compared to the previous year[8]. - The total operating revenue for the third quarter was CNY 291,187,498.72, compared to CNY 464,119,461.57 in the previous period[34]. - The net profit for the third quarter was a loss of CNY 316,228,885.40, compared to a profit of CNY 58,893,068.41 in the previous year[36]. - The total profit (loss) before tax was CNY -318,066,278.12, compared to CNY 66,800,421.45 in the previous year[36]. - The net profit for Q3 2020 was -332,872,854.86 CNY, compared to a net profit of 112,340,543.56 CNY in Q3 2019, indicating a significant decline[44]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,519,117,653.09, a decrease of 2.63% compared to the end of the previous year[8]. - Total liabilities increased to CNY 3,379,008,676.36 from CNY 3,250,690,823.68[28]. - Current liabilities rose to CNY 3,028,719,360.21 from CNY 2,729,075,940.15[28]. - Non-current assets totaled CNY 4,470,328,207.47, down from CNY 4,579,729,342.71[27]. - The total owner's equity decreased to CNY 4,140,108,976.73 from CNY 4,471,659,872.75[29]. - The company has a negative retained earnings of CNY -837,746,250.67, indicating accumulated losses[60]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 52,602[12]. - The top ten shareholders held a combined 40.35% of the company's shares, with the largest shareholder holding 8.60%[12]. Cash Flow - Cash and cash equivalents decreased by 45.94% to ¥128,459,410.50 due to repayment of maturing debts[16]. - The cash flow from operating activities was 34,877,173.89 CNY, down from 153,864,340.71 CNY in Q3 2019, reflecting a decline in cash generation[51]. - The net cash flow from investment activities was -35,736,376.05 CNY, a decrease from -128,919,357.31 CNY in the previous period, indicating improved cash management[52]. - The net cash flow from financing activities was -24,855,273.75 CNY, slightly better than -26,376,392.13 CNY in the previous period, reflecting a reduction in financing costs[52]. Research and Development - Research and development expenses rose by 98.00% to ¥26,772,579.75, reflecting increased investment in R&D[16]. - Research and development expenses increased to CNY 26,772,579.75, up from CNY 13,521,423.91, indicating a growth of 97.5%[35]. Other Financial Metrics - The weighted average return on net assets was -7.54%, compared to -8.44% in the previous year[8]. - The company reported non-operating income of CNY 14,068,445.11 for the year-to-date period[9]. - The company incurred credit impairment losses of -312,158,604.02 CNY in Q3 2020, with no corresponding figure reported for the previous year[44]. - The company reported interest expenses of 76,931,148.22 CNY, compared to 85,323,141.28 CNY in the previous year[44].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥460,841,531.80, a decrease of 11.58% compared to ¥521,221,343.64 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was -¥11,885,801.73, representing a decline of 123.13% from ¥51,395,253.50 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was -¥26,113,269.77, a decrease of 232.97% compared to ¥19,638,564.33 in the same period last year[18]. - The net cash flow from operating activities was ¥67,727,208.47, a significant improvement of 237.60% from -¥49,221,069.29 in the previous year[18]. - The basic earnings per share were -¥0.01, a decline of 133.33% compared to ¥0.03 in the same period last year[18]. - The diluted earnings per share were also -¥0.01, reflecting the same percentage decline of 133.33% from ¥0.03 in the previous year[18]. - The weighted average return on net assets was -0.29%, down from 0.78% in the previous year, indicating a significant decrease in profitability[18]. - The company reported a total comprehensive loss of CNY 16,643,969.46 for the first half of 2020, compared to a comprehensive income of CNY 53,447,475.15 in the same period last year[182]. - The company reported a net loss of CNY 849,632,052.40, worsening from a loss of CNY 837,746,250.67 at the end of 2019[174]. Assets and Liabilities - The total assets at the end of the reporting period were ¥7,722,896,843.59, showing a slight increase of 0.01% from ¥7,722,350,696.43 at the end of the previous year[18]. - The total liabilities increased to CNY 3,268,546,422.69 from CNY 3,250,690,823.68, showing a slight rise[173]. - The company's total equity decreased to CNY 4,454,350,420.90 from CNY 4,471,659,872.75, reflecting a decline of about 0.4%[174]. - Accounts receivable increased to ¥1,861,386,960.93, accounting for 24.10% of total assets, up 1.69% from the previous year[64]. - The company's short-term loans rose to ¥1,342,000,000.00, representing 17.38% of total assets, an increase of 9.90% year-on-year[64]. - Cash and cash equivalents decreased to ¥185,391,971.54, down 0.35% from the previous year[64]. - Inventory increased to ¥796,116,339.16, which is 10.31% of total assets, up 2.78% year-on-year[64]. Research and Development - The company has applied for a total of 141 patents, including 64 invention patents, with 93 patents granted, showcasing its strong R&D capabilities[40]. - Research and development investment amounted to 24.86 million yuan, a slight decrease of 2.85% year-on-year[58]. - The R&D team focuses on customer-centric product development, ensuring continuous improvement through market research and user feedback[45]. - Research and development expenses for the first half of 2020 were CNY 24,858,229.87, slightly down from CNY 25,586,740.93 in the first half of 2019[180]. - The company is actively developing new products in the agricultural machinery sector, including the S3000B silage machine and Y4B/Y6C corn harvesters, to meet market demands[55]. Market and Product Development - The aerospace segment focuses on three core areas: aircraft structure components, spacecraft structure components, and engine and gas turbine structure components, leveraging advanced technologies[25]. - The agricultural machinery segment has over 60 products, with leading technology in large agricultural harvesting machinery, achieving top three market share domestically[28]. - The company emphasizes a production model combining self-research and external collaboration, enhancing its competitive edge in high-end agricultural machinery[28]. - The aerospace industry is supported by national policies, indicating a broad market space and development prospects for the company[32]. - The company has transformed from parts processing to component system delivery, increasing its participation in the value chain and expanding its customer base within the aerospace sector[33]. - The company is exploring potential mergers and acquisitions to enhance its competitive position in the market[199]. Social Responsibility and Community Engagement - The company donated four medical isolation cabins and raised 41,311.17 yuan for COVID-19 relief efforts, demonstrating its commitment to social responsibility[51]. - The company is actively engaged in social responsibility initiatives, including poverty alleviation efforts in local communities[138]. - A total of 0.3 million yuan was invested in poverty alleviation efforts, helping 15 registered impoverished individuals to escape poverty[140]. - The company plans to focus its poverty alleviation efforts in the second half of 2020, with specific actions including visits to impoverished villages and donations to local education foundations[142]. Environmental Management - The company has implemented pollution control facilities, including 2 welding fume purifiers and 1 wastewater treatment station, all operating normally[123]. - The company has established an emergency response plan for environmental incidents, which was approved in December 2016 and has conducted two emergency drills in 2020[126]. - The company conducted environmental monitoring in April 2020, with all results meeting national standards[127]. - The company has a comprehensive environmental management system in place, ensuring compliance with monitoring and reporting standards[127]. Corporate Governance - The independent director Yang Yang resigned on January 9, 2020, and Zhang Xiaowu was elected as a new independent director on the same day[164]. - The company has not experienced any changes in its controlling shareholder during the reporting period[155]. - The company has not reported any changes in the use of raised funds or project implementation methods[73][72]. - The company has confirmed that there are no issues with the timely and accurate disclosure of information regarding the use of raised funds[72].

证券代码：300159 证券简称：新研股份 公告编号：2020-052 新疆机械研究院股份有限公司 关于参加 2020 年新疆辖区上市公司 投资者网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 为便于广大投资者更深入全面地了解公司情况、发展战略、经营状况、融资 计划、股权激励、可持续发展等投资者所关心的问题，公司定于 2020 年 6 月 24 日下午 15:00-17:30 参加由新疆上市公司协会联合深圳市全景网络有限公司组织 开展的 2020 年新疆辖区上市公司投资者网上集体接待日活动。现将有关事项公告 如下： 本次集体接待日活动将在深圳市全景网络有限公司提供的网上平台，采取网 络 远 程 的 方 式 举 行 ， 投 资 者 可 以 登 录 " 全 景 · 路 演 天 下 " 网 站 （http://rs.p5w.net/）或关注微信公众号：全景财经（微信号：p5w2012），参 与公司本次投资者集体接待日活动，活动时间为 2020 年 6 月 24 日（星期三）15:00 —17:30。 出席本次集体接待日的人员有：公司董事长 ...

Financial Performance - The company's operating revenue for 2019 was ¥1,249,997,905.02, a decrease of 33.50% compared to ¥1,879,568,779.00 in 2018[16] - The net profit attributable to shareholders was -¥1,978,558,337.51, representing a decline of 765.54% from ¥297,286,467.10 in the previous year[16] - The net cash flow from operating activities was -¥71,693,163.31, a decrease of 150.01% compared to ¥143,356,179.27 in 2018[16] - The total assets at the end of 2019 were ¥7,722,350,696.43, down 20.97% from ¥9,771,383,297.03 at the end of 2018[16] - The net assets attributable to shareholders decreased by 36.02% to ¥4,100,985,244.90 from ¥6,409,866,092.80 in 2018[16] - The basic earnings per share for 2019 was -¥1.3276, a decline of 763.80% from ¥0.20 in the previous year[16] - The weighted average return on equity was -37.52%, down 42.22% from 4.70% in 2018[16] - The company achieved total revenue of 1.25 billion yuan in 2019, a decrease of 33.5% compared to the previous year, and reported a net profit attributable to shareholders of -1.979 billion yuan, a decline of 765.54% year-on-year[45] Operational Challenges - The company faced significant risks in its operations, which are detailed in the report[5] - The company has not made any commitments regarding future plans or strategies, emphasizing the need for investors to be aware of associated risks[5] - The aerospace segment faced challenges due to a difficult financing environment, leading to increased financial costs and delays in some technical transformation projects[46] - The company reported a significant increase in bad debt provisions, amounting to approximately ¥333 million, impacting net profit[77] - The company terminated the acquisition of Smiths Harlow Limited due to unfavorable changes in international business conditions, resulting in a loss of approximately 34.89 million yuan[51] Revenue Segmentation - The agricultural machinery segment generated ¥416,741,656.30 in revenue, accounting for 33.34% of total revenue, with a year-on-year increase of 11.77%[55] - The aerospace component manufacturing segment reported revenue of ¥833,256,248.72, which represented 66.66% of total revenue, showing a decline of 11.77% from the previous year[55] - The revenue from agricultural and sideline product processing machinery was ¥327,849,590.37, representing 26.23% of total revenue, with a year-on-year increase of 7.99%[55] - The company reported a significant increase in revenue from mechanical processing, which reached ¥88,892,065.93, up 41.81% from the previous year[58] Research and Development - The company is committed to advancing its research and development capabilities in both aerospace and agricultural machinery sectors[24] - The company has accumulated 141 patent applications, including 64 invention patents, with 93 authorized, supporting its order fulfillment capabilities[35] - The company has developed advanced technologies for aerospace components, including various welding techniques and manufacturing processes for high-temperature alloys and titanium alloys[35] - The company invested ¥12.12 million in R&D for the agricultural machinery sector, completing 14 new product developments[72] - The company completed the design and development of 6 new agricultural machinery products, improving reliability and reducing production costs[27] Strategic Focus - The company aims to replace imported high-end agricultural machinery with domestically developed products, enhancing its competitive edge in the market[26] - The company has a strategic focus on developing technologies for lightweight aircraft structures and complex components[25] - The company is undergoing a strategic transformation from a "flight component supplier" to a "strategic partner for sub-assemblies," which has increased the demand for working capital significantly[46] - The company aims to upgrade from single component manufacturing to large assembly production, increasing product added value[105] Market Trends - The agricultural machinery industry has been in a transformation phase since 2015, with a significant decline in sales of traditional products such as tractors and rice transplanters, while niche products are showing growth[30] - The aerospace industry is supported by national policies and has significant growth potential, driven by major projects and long-term market demand[28] - Domestic demand for civil aviation is strong, with over 1,000 orders for the C919 aircraft and more than 500 orders for the ARJ21-700 regional jet as of March 2019[101] - The market for military aviation engine components is expected to exceed 100 billion yuan by 2025, with an annual compound growth rate of over 25% from 2018 to 2025[100] Environmental Responsibility - The company does not belong to the list of key pollutant discharge units as per environmental protection regulations[181] - The company has established a wastewater treatment station that has been operational since April 2014, meeting the national wastewater discharge standards (GB8978-1996) at a level of secondary standard[192] - Environmental monitoring is conducted annually, covering all production areas, with results consistently meeting national standards for noise, dust, wastewater, and waste gas[188] - The company has reported a total wastewater discharge of 3,520 tons per year from its Xinjiang subsidiary, with specific pollutant concentrations well within the limits set by national standards[189] Corporate Governance - The company emphasizes the importance of maintaining shareholder interests and preventing conflicts of interest in related transactions[130] - The company is committed to maintaining transparency and fulfilling information disclosure obligations[132] - The company has confirmed that there are no issues with the timely and accurate disclosure of fundraising information[91] - The company has complied with the new financial reporting formats issued by the Ministry of Finance, which took effect on April 30, 2019, and September 19, 2019[140] Social Responsibility - The company actively engaged in social responsibility activities, including support for local education and elderly care initiatives[172] - The company participated in poverty alleviation efforts, receiving high recognition from local leaders and communities[173] - The company invested a total of 51.09 million yuan in poverty alleviation efforts during the year[176] - The company organized educational activities for youth to promote interest in aerospace knowledge[175]

Financial Performance - Total revenue for the first quarter reached ¥117,987,796.46, an increase of 36.51% compared to ¥86,434,263.02 in the same period last year[7] - Net profit attributable to shareholders was a loss of ¥11,102,045.92, improving by 77.90% from a loss of ¥50,242,426.12 year-on-year[7] - Basic and diluted earnings per share were both -¥0.0074, representing a 78.04% improvement from -¥0.0337 in the same quarter last year[7] - The net profit for the period was -12,658,816.69, representing a significant reduction in losses by 75.77% compared to the previous year[18] - Net loss for Q1 2020 was CNY 12,658,816.69, compared to a net loss of CNY 52,254,604.80 in the same period last year[52] - The net profit for the first quarter of 2020 was -13,242,555.14 CNY, compared to -8,019,405.29 CNY in the same period last year, indicating a decline of approximately 65.7%[56] - Total comprehensive income for the first quarter was -13,242,555.14 CNY, compared to -8,019,405.29 CNY in the same period last year, indicating a decline of approximately 65.7%[57] Cash Flow - Net cash flow from operating activities was a negative ¥83,429,887.52, which is a 30.23% increase in cash outflow compared to ¥64,064,131.58 in the previous year[7] - Cash flow from operating activities showed a net outflow of -83,429,887.52 CNY, worsening from -64,064,131.58 CNY in the previous year[60] - Total cash inflow from financing activities was 352,451,200.00 CNY, down from 578,800,000.00 CNY in the same period last year, representing a decrease of approximately 39%[61] - The company reported a net cash inflow from financing activities of ¥52,762,033.26, compared to a net outflow of ¥105,473,363.17 in the previous period[64] - The total cash and cash equivalents at the end of the period amounted to ¥743,810.67, down from ¥4,377,690.06 at the beginning of the period[64] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,614,737,987.80, a decrease of 1.39% from ¥7,722,350,696.43 at the end of the previous year[7] - Total liabilities decreased to CNY 3,155,272,350.72 from CNY 3,250,690,823.68, reflecting a decline of about 2.9%[44] - The company's equity attributable to shareholders decreased to CNY 4,090,515,234.44 from CNY 4,100,985,244.90, indicating a decrease of approximately 0.3%[45] - The company's current assets totaled CNY 3,061,819,425.20, down from CNY 3,142,621,353.72 at the end of 2019, indicating a decrease of about 2.6%[42] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 37,484[10] - The top shareholder, Huokou Si Huakong Chuangye Investment Co., Ltd., holds 8.60% of shares, totaling 128,148,293 shares[10] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[11] Business Operations - The company achieved total operating revenue of 117,987,796.46, a year-on-year increase of 36.51% driven by increased aerospace business orders[18] - The company is focusing on developing high-value-added businesses such as surface treatment and assembly, enhancing product competitiveness and profit margins[21] - The company plans to optimize its production base layout by establishing subsidiaries in Luoyang, Weifang, and Guizhou to meet customer order demands[27] - The agricultural machinery business is facing challenges due to the pandemic but sees opportunities as demand for various agricultural machinery products remains high[23] - The company's aerospace business faces intensified competition due to increased social cooperation in equipment production, leading to a need for enhanced internal management and process optimization[28] - The company is diversifying into rail transit and shipbuilding to stabilize performance amid declining margins in military business[28] Challenges and Risks - Rising production costs due to environmental regulations and increasing raw material prices pose a risk to the company's profitability[30] - The agricultural machinery market has entered a deep adjustment period since 2014, shifting from a growth market to a replacement-driven market, impacting revenue and profit[30] Government Support and Donations - The company received government subsidies amounting to ¥1,039,182.00 during the reporting period[8] - The company has donated four medical isolation cabins and organized fundraising efforts to support pandemic relief efforts[19] Employee Management - The company has initiated a new performance appraisal and compensation management system to enhance employee motivation and optimize labor costs[22] Regulatory Compliance - The company did not apply the new revenue and leasing standards for the current reporting period[65] - The first quarter report was not audited, which may affect the reliability of the financial data presented[66]

[Company Overview and Financial Summary](index=3&type=section&id=Item%202.%20Company%20Overview) The company experienced significant declines in revenue and net profit in Q3 and YTD 2019, alongside improved operating cash flow and high share pledge ratios among major shareholders [Key Financial Indicators](index=3&type=section&id=Item%201.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In Q3 and YTD 2019, the company experienced significant declines in revenue and net profit, while net cash flow from operating activities substantially improved by 255.26% | Indicator | Year-to-date | YoY Change | Current Period (Q3) | YoY Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 985,340,805.21 | -34.59% | 464,119,461.57 | -36.90% | | Net Profit Attributable to Shareholders (RMB) | 111,684,945.11 | -65.63% | 60,289,691.61 | -55.80% | | Net Cash Flow from Operating Activities (RMB) | 153,864,340.71 | 255.26% | -- | -- | | Basic EPS (RMB/share) | 0.0749 | -65.64% | 0.0405 | -55.74% | | Weighted Average ROE | 1.69% | -3.20% | 0.90% | -1.18% | | Total Assets (RMB) | 10,068,553,675.44 | 3.04% (vs. year-beginning) | -- | -- | | Net Assets Attributable to Shareholders (RMB) | 6,733,858,850.71 | 5.05% (vs. year-beginning) | -- | -- | | Item | Year-to-date Amount (RMB) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | -10,905,461.30 | | Government Grants Recognized in Current P&L | 53,016,770.76 | | Other Non-operating Income and Expenses | 4,768,795.71 | | **Total Non-recurring Gains and Losses** | **37,369,507.20** | [Shareholder Information](index=4&type=section&id=Item%202.%20Total%20Shareholders%20and%20Top%20Ten%20Shareholders%27%20Holdings%20at%20Period-End) As of the reporting period end, the company had 39,543 common shareholders, with several top shareholders, including the largest, having nearly 100% of their shares pledged - As of the reporting period end, the company had **39,543** common shareholders[11](index=11&type=chunk) | Shareholder Name | Shareholding Percentage | Share Status | Pledged Shares Quantity | | :--- | :--- | :--- | :--- | | Zhou Weihua | 11.25% | Pledged | 166,519,999 | | Han Hua | 6.24% | Pledged | 93,019,770 | | Yang Lijun | 4.31% | Pledged | 64,264,759 | | Wang Jianjun | 3.31% | Pledged | 11,000,000 | | Shifang Xingsheng Investment Management Partnership | 1.81% | Pledged | 27,000,000 | [Significant Events and Operating Analysis](index=7&type=section&id=Item%203.%20Significant%20Events) The company's financial performance was significantly impacted by military reform, while it actively pursued a private share placement and received government subsidies, and completed its 2018 dividend distribution [Analysis of Significant Changes in Financial Data](index=7&type=section&id=Item%201.%20Significant%20Changes%20in%20Key%20Financial%20Data%20and%20Indicators%20and%20Reasons) Multiple financial indicators changed significantly due to delayed revenue recognition from military reform, leading to revenue and net profit declines, while improved operating cash collection boosted operating cash flow despite reduced financing cash flow from bond repayment | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Operating Revenue | -36.90% | Revenue recognition delayed due to military reform | | Financial Expenses | 160.83% | Due to decrease in discounted interest received in current period | | Investment Income | 958.27% | Due to asset disposal losses of agricultural machinery segment subsidiary in current period | | Net Cash Flow from Operating Activities | 255.26% | Improved operating cash collection and reduced operating payments | | Net Cash Flow from Financing Activities | -105.59% | Primarily due to repayment of matured corporate bonds in current period | [Progress of Significant Events](index=8&type=section&id=Item%202.%20Progress%20of%20Significant%20Matters%2C%20Impact%2C%20and%20Solutions) The company is actively pursuing a proposed non-public share issuance to raise up to RMB 1.2 billion for bank loan repayment and its subsidiary received a RMB 33.8 million industrial development grant - The company proposes a non-public share issuance to raise up to **RMB 1.2 billion** for bank loan repayment, with the project actively progressing after receiving initial feedback from the CSRC on September 29, 2019[20](index=20&type=chunk) - Holding subsidiary Sichuan Mingri Aerospace Industry Co Ltd received **RMB 33.8 million** in industrial development special funds in July 2019, which has been disbursed[20](index=20&type=chunk) [Dividend Distribution](index=9&type=section&id=Item%204.%20Execution%20of%20Cash%20Dividend%20Policy%20During%20Reporting%20Period) The company fully implemented its 2018 profit distribution plan, approved by the board and shareholders, distributing a cash dividend of RMB 0.21 per 10 shares (tax inclusive) totaling RMB 30.91 million on July 5, 2019 - The company's 2018 profit distribution plan, completed on July 5, 2019, involved a cash dividend of **RMB 0.21 per 10 shares** (tax inclusive), totaling **RMB 30,911,284.38**[23](index=23&type=chunk) [Financial Statements](index=10&type=section&id=Item%204.%20Financial%20Statements) The financial statements reveal a 3.04% increase in total assets, significant declines in revenue and net profit due to military reform, and a substantial improvement in operating cash flow [Consolidated Balance Sheet Analysis](index=10&type=section&id=1.%20Consolidated%20Balance%20Sheet) As of September 30, 2019, total assets increased by 3.04% to RMB 10.07 billion, driven by a 35.45% rise in construction in progress, while short-term borrowings increased and bonds payable were fully repaid | Item | September 30, 2019 (RMB) | December 31, 2018 (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 10,068,553,675.44 | 9,771,383,297.03 | 3.04% | | Construction in Progress | 655,505,953.55 | 483,945,485.28 | 35.45% | | Short-term Borrowings | 1,124,000,000.00 | 849,000,000.00 | 32.39% | | Advances from Customers | 94,848,176.30 | 15,536,699.50 | 510.48% | | Bonds Payable | 0.00 | 398,605,869.98 | -100.00% | | Total Equity Attributable to Parent Company Owners | 6,733,858,850.71 | 6,409,866,092.80 | 5.05% | [Consolidated Income Statement Analysis](index=16&type=section&id=3.%20Consolidated%20Income%20Statement%20for%20Current%20Period) The company's profitability significantly deteriorated in Q3 and YTD 2019, with Q3 revenue declining by 36.90% to RMB 464.12 million and net profit attributable to parent company owners dropping by 55.80% to RMB 60.29 million, primarily due to delayed revenue recognition from military reform | Item (Q3) | Current Period Amount (RMB) | Prior Period Amount (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 464,119,461.57 | 735,583,616.75 | -36.90% | | Operating Profit | 62,014,483.87 | 156,865,223.96 | -60.47% | | Net Profit Attributable to Parent Company Owners | 60,289,691.61 | 136,416,114.83 | -55.80% | | Item (YTD) | Current Period Amount (RMB) | Prior Period Amount (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 985,340,805.21 | 1,506,320,933.56 | -34.59% | | Operating Profit | 127,947,924.22 | 274,041,605.62 | -53.31% | | Net Profit Attributable to Parent Company Owners | 111,684,945.11 | 324,911,270.91 | -65.63% | [Consolidated Cash Flow Statement Analysis](index=25&type=section&id=7.%20Consolidated%20Cash%20Flow%20Statement%20from%20Year-Beginning%20to%20Period-End) YTD, the company's cash flow structure significantly changed, with operating cash flow turning positive to RMB 154 million, investment cash outflow narrowing, and financing cash flow shifting to a net outflow due to bond repayment | Item (YTD) | Current Period Amount (RMB) | Prior Period Amount (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 153,864,340.71 | -99,103,432.76 | 255.26% | | Net Cash Flow from Investing Activities | -128,919,357.31 | -266,781,488.34 | -51.68% | | Net Cash Flow from Financing Activities | -26,376,392.13 | 471,512,675.95 | -105.59% | | Net Increase in Cash and Cash Equivalents | -1,245,891.02 | 105,627,754.85 | -101.18% |

Revenue and Profitability - The company's revenue is primarily derived from military products, accounting for 80% of total revenue, which is impacted by increasing market competition and rising labor costs [6]. - Total revenue for the reporting period was ¥521,221,343.64, a decrease of 32.37% compared to ¥770,737,316.81 in the same period last year [31]. - Net profit attributable to shareholders was ¥51,395,253.50, down 72.73% from ¥188,495,156.08 year-on-year [31]. - Net profit after deducting non-recurring gains and losses was ¥19,638,564.33, a decline of 75.38% compared to ¥79,753,773.45 in the previous year [31]. - Basic and diluted earnings per share were both ¥0.03, down 76.92% from ¥0.13 year-on-year [31]. - The company anticipates a significant decline in net profit due to increased competition and rising labor costs, with 80% of revenue derived from military products [75]. Business Diversification and Development - The company plans to diversify its business by actively developing rail transit and shipbuilding sectors to stabilize and enhance performance [7]. - The company is focusing on dual main business operations in aerospace and agricultural machinery, with ongoing development in high-end agricultural machinery [37]. - The company is actively expanding its aerospace business, participating in the production of major aircraft components and enhancing its supply chain capabilities [49]. - The company has been recognized as a key supplier for rail transit projects in Sichuan Province, indicating successful market expansion [50]. Market Conditions and Challenges - The agricultural machinery market has entered a deep adjustment period since 2014, with the main product, corn harvesters, facing declining sales due to increased harvesting efficiency [9]. - The agricultural machinery market is facing saturation, leading the company to focus on product updates and technology upgrades to meet evolving customer demands [51]. - The company is implementing aggressive marketing strategies and quality improvements to counteract the uncertain market conditions in the agricultural machinery sector [76]. Financial Management and Costs - Production costs have been rising due to environmental regulations, leading to increased component prices, which may negatively affect profitability [10]. - The company aims to maintain production costs at the same level as the previous year by enhancing cost control measures [11]. - The company has adopted a credit shipment policy to mitigate the risk of bad debts from accounts receivable [15]. - The company is optimizing its dealer network to mitigate risks associated with accounts receivable and potential bad debts [78]. Research and Development - The company has applied for a total of 138 patents, including 64 invention patents, with 79 patents granted [38]. - The company aims to complete the prototype testing for its main products to meet the fourth-stage emission standards by the end of 2019 [12]. - The company has made significant breakthroughs in the technology of self-propelled harvesting machines, enhancing its competitive edge in the agricultural machinery sector [41]. - Research and development investment amounted to RMB 25.59 million, a slight decrease of 6.82% from the previous year [54]. Shareholder and Equity Changes - The company repurchased a total of 18,394,279 shares, accounting for 1.23% of the total share capital, with a total payment of approximately ¥101 million [91]. - The company plans to use all repurchased shares for employee stock incentive plans to enhance investor confidence and attract talent [91]. - The company transferred 128,148,293 A-shares, representing 8.5985% of the total share capital, to Jiaxing Huakong, resulting in Jiaxing Huakong holding 19.1519% voting rights after the transaction [124]. - The new controlling shareholder is Horgos Huakong Venture Capital Co., Ltd. - Jiaxing Huakong Tenghui Equity Investment Partnership (Limited Partnership), effective March 28, 2019 [143]. Environmental and Social Responsibility - The company has established an emergency response plan for environmental incidents, which was implemented in December 2016 and has been approved by the local environmental authority [112]. - The company reported a total investment of 12.95 million yuan in poverty alleviation projects focused on agricultural and forestry industries [121]. - A total of 17 impoverished students received financial assistance amounting to 0.5 million yuan for their education [122]. - The company donated 5 electric vehicles to support the poultry industry development in southern Xinjiang as part of its poverty alleviation efforts [120]. Financial Health and Stability - Total assets at the end of the reporting period were ¥10,146,877,133.62, an increase of 3.84% from ¥9,771,383,297.03 at the end of the previous year [31]. - The company’s financial health remains stable, with strong profitability and good debt repayment capabilities [160]. - The company has maintained a loan repayment rate of 100% during the reporting period [164]. - There were no overdue debts reported by the company during the reporting period [165].

证券代码：300159 证券简称：新研股份 公告编号：2019-079 新疆机械研究院股份有限公司 关于参加 2019 年新疆辖区上市公司 投资者集体接待日活动的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 为便于广大投资者更深入全面地了解公司情况、发展战略、经营 状况、融资计划、股权激励、可持续发展等投资者所关心的问题，公 司定于 2019 年 7 月 26 日下午 15:00-17:30 参加由深圳证券交易所、 新疆上市公司协会联合深圳市全景网络有限公司组织开展的 2019 年 新疆辖区上市公司投资者集体接待日活动。现将有关事项公告如下： 本次集体接待日活动将在深圳市全景网络有限公司提供的网上平 台，采取网络远程的方式举行，投资者可以登录"全景·路演天下" 网站（http://rs.p5w.net/）或关注微信公众号：全景财经（微信号： p5w2012），参与公司本次投资者集体接待日活动，活动时间为 2019 年 7 月 26 日（星期五）15:00 至 17:30。 出席本次集体接待日的人员有：公司总经理韩华先生、董事会秘 书周建林先生、财务总 ...

Financial Performance - Total revenue for the first quarter was ¥86,434,263.02, a decrease of 56.09% compared to ¥196,835,164.31 in the same period last year[8] - Net profit attributable to shareholders was -¥50,242,426.12, representing a decline of 199.79% from a profit of ¥50,350,005.11 in the previous year[8] - The net profit after deducting non-recurring gains and losses was -¥53,391,470.81, a decrease of 186.41% compared to -¥15,822,964.37 in the same period last year[8] - Basic and diluted earnings per share were both -¥0.0337, down 199.70% from ¥0.0338 in the same period last year[8] - The company reported a net profit of -52,254,604.80 CNY for the first quarter of 2019, compared to a net profit of 49,172,176.40 CNY in the same period last year, indicating a significant decline[52] - The total profit for the period was -50,850,034.27 CNY, down from 60,809,134.29 CNY in the previous year, reflecting a negative performance trend[52] - The company incurred a total operating loss of -50,738,821.46 CNY, which is a deterioration from the loss of -7,321,642.66 CNY in the previous year[52] Cash Flow and Assets - The net cash flow from operating activities was -¥64,064,131.58, showing a slight improvement of 0.03% from -¥90,286,623.08 in the previous year[8] - As of March 31, 2019, the total current assets amounted to CNY 3,410,170,467.01, slightly down from CNY 3,411,131,104.06 at the end of 2018[41] - The company's cash and cash equivalents were CNY 263,277,409.00, a decrease from CNY 264,733,702.80 at the end of 2018[41] - The total assets as of March 31, 2019, were CNY 9,746,748,247.85, compared to CNY 9,771,383,297.03 at the end of 2018[42] - The total liabilities as of March 31, 2019, amounted to ¥3,304,024,479.51, a slight increase from ¥3,233,347,238.88 at the end of 2018[44] - The cash flow from operating activities showed an increase, with cash received from sales of goods and services amounting to 273,997,513.45 CNY, compared to 250,223,539.75 CNY in the previous year[58] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 40,300[11] - The largest shareholder, Zhou Weihua, holds 11.25% of the shares, with a total of 167,700,717 shares, of which 166,519,999 are pledged[11] - The company has repurchased a total of 18,394,279 shares, accounting for 1.23% of its total share capital, with a total expenditure of approximately ¥101 million, which will be used for equity incentives[30] - The transfer of 128,148,293 shares, representing 8.5985% of the company's total share capital, to Jiaxing Huakong has been completed, resulting in a change in the controlling shareholder[28] Research and Development - The company is actively expanding its aerospace business, participating in projects like the C919 and CJ-2000, aiming to capture a larger market share in domestic large aircraft manufacturing[20] - The company plans to enhance its product offerings by transitioning from low-value components to high-value units in the aerospace sector, supported by significant investments in new product R&D[23] - The company has completed significant R&D projects in the aerospace sector, enhancing its capabilities in manufacturing components for civil aircraft like the C919, which will accelerate international business development[25] - In the agricultural machinery sector, the company is involved in 12 technology projects, including 3 national projects, with key advancements in straw feed harvesting technology and equipment, achieving expected technical performance indicators[26] - The company has achieved significant milestones in its R&D projects, including the completion of design and simulation tests for intelligent equipment in straw harvesting[26] Market and Operational Strategy - The agricultural machinery market is expected to benefit from government policies aimed at promoting mechanization and industry upgrades, with a market sentiment index of 46.1% in February 2019, up 10.5 percentage points month-on-month[22] - The company has initiated production plans early in response to market conditions, resulting in a 50% increase in sales collections for non-mainstream small agricultural machinery products[22] - The company aims to maintain product quality and technological advancement in the agricultural machinery sector despite a challenging market environment[24] - Financial expenses increased by 38.96% to CNY 34.83 million due to higher interest expenses[18] Financial Management - The company reported no significant changes in project feasibility during the reporting period[35] - There were no violations regarding external guarantees during the reporting period[36] - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties[37] - The company reported a cash outflow of 10,134,047.41 CNY for taxes, significantly lower than 68,831,728.15 CNY in the previous period, indicating improved tax management[59] - The net increase in cash and cash equivalents for the period was 5,908,763.18 CNY, a decrease from 86,468,584.72 CNY in the previous period, reflecting tighter cash flow management[60]

Financial Performance - In 2018, the company's operating revenue was CNY 1,879,568,779, representing a 1.39% increase compared to CNY 1,853,831,790 in 2017[18]. - The net profit attributable to shareholders decreased by 26.67% to CNY 297,286,467 from CNY 405,436,037 in the previous year[18]. - The net profit after deducting non-recurring gains and losses dropped by 87.14% to CNY 40,437,614.68, down from CNY 314,469,350.57 in 2017[18]. - The net cash flow from operating activities improved significantly to CNY 143,356,179.27, compared to a negative cash flow of CNY -113,997,977.47 in 2017, marking a 131.59% increase[18]. - The total assets of the company increased by 9.02% to CNY 9,771,383,297.03 at the end of 2018, up from CNY 8,963,156,227.50 at the end of 2017[18]. - The net assets attributable to shareholders rose by 3.28% to CNY 6,409,866,092.80, compared to CNY 6,206,380,306.87 in the previous year[18]. - The basic earnings per share decreased by 25.93% to CNY 0.20 from CNY 0.27 in 2017[18]. - The weighted average return on equity fell to 4.70% from 6.65% in the previous year, a decrease of 1.95%[18]. Agricultural Machinery Industry - The company is facing risks in the agricultural machinery industry due to a prolonged downturn, with a significant reduction in the number of domestic brands and production enterprises[5]. - In 2018, the profit of large-scale agricultural machinery enterprises in China decreased significantly by 15.76%, indicating a negative growth trend in the industry[33]. - The production of four-row corn harvesters reached 12,225 units, an increase of 18.01%, while five-row corn harvesters saw a production increase of 119.47% to 1,916 units[33]. - The overall sales of corn harvesters were approximately 35,000 units, primarily affected by a decrease in total corn production and falling market prices[33]. - The "Mushen" brand ranked second in the market for silage harvesting machines and fourth for corn combine harvesters in 2018[36]. - The company upgraded its products in 2018, including the design and development of fresh corn harvesters[32]. - The market demand for harvesting machinery is particularly strong in major agricultural provinces such as Heilongjiang, Hebei, and Henan[34]. - The agricultural machinery industry is experiencing a period of adjustment, with varying pressures across different sub-industries, particularly affecting major manufacturers of tractors and harvesters[33]. Aerospace Sector - The aerospace business generated revenue of 1.474 billion yuan, down 10.12% year-on-year due to product structure adjustments and increased market competition[48]. - The company has established itself as a leading private enterprise in the civil aviation aerospace components manufacturing sector, with advanced production capabilities[30]. - The company has formed strategic partnerships with major domestic and international aircraft and engine manufacturers, enhancing its market position[31]. - The aerospace industry is recognized as a key emerging industry in China, with significant government support and a promising market outlook[28]. - The company is actively pursuing military-civilian integration, collaborating with multiple units to develop new products and enhance operational quality[27]. Research and Development - The company has 63 valid patents, including 15 invention patents, indicating strong innovation capabilities[44]. - The company applied for 24 patents in 2018, focusing on technologies for aircraft engines and composite materials[78]. - The company led 12 national and regional technology projects in 2018, including key research on intelligent agricultural machinery[79]. - The company developed a new pepper harvesting machine that can efficiently harvest both line peppers and board peppers, achieving significant technological breakthroughs[83]. - The R&D personnel count decreased by 12.28% from 276 in 2017 to 242 in 2018[84]. Cash Flow and Investments - The net cash flow from operating activities increased by 131.59% to ¥143,356,179.27, primarily due to a reduction in cash payments for goods and services[5]. - Investment cash inflow decreased by 40.90% to ¥56,024,799.67, attributed to reduced proceeds from the disposal of idle assets and government subsidies[6]. - Cash inflow from financing activities increased by 33.70% to ¥1,385,428,180.91, mainly due to an increase in borrowings[7]. - The company invested ¥215,000,000.00 during the reporting period, a significant increase of 317.67% compared to the previous year[94]. Corporate Governance and Compliance - The company has a commitment to maintain the lock-up period for shares acquired through non-public offerings[146]. - The company has ensured that there are no conflicts of interest with its controlling shareholders and related parties in the restructuring transaction[159]. - The company has made a commitment to not engage in any actions that would harm the interests of Xinjiang Machinery Research Institute Co., Ltd.[160]. - The company has established a framework to ensure fair and reasonable transactions with Xinjiang Machinery Research Institute Co., Ltd.[158]. - The company has undertaken to comply with relevant laws and regulations regarding related party transactions and to avoid any unnecessary related transactions[158]. Social Responsibility and Environmental Management - The company actively participated in poverty alleviation efforts, aligning with national policies and local government initiatives[184]. - The company has completed its planned poverty alleviation work for 2018, with three designated poverty-stricken households successfully lifted out of poverty[188]. - The company has a comprehensive environmental management system in place, with annual monitoring of noise, dust, wastewater, and waste gas[196]. - The wastewater treatment plant has been operational since April 2014 and meets the national wastewater discharge standards (GB8978-1996) at the secondary level, operating normally[199]. - The company has implemented a dust collection system for cutting operations, operational since 2016, to mitigate air pollution[199].