Financial Performance - The company's operating revenue for Q1 2021 was ¥180,855,490.50, representing an increase of 88.21% compared to ¥96,094,048.81 in the same period last year[9] - Net profit attributable to shareholders was ¥19,893,360.26, a significant turnaround from a loss of ¥43,329,272.28 in the previous year, marking a 145.91% increase[9] - The net cash flow from operating activities reached ¥95,794,712.17, up 165.60% from ¥36,066,710.08 in the prior year[9] - Basic and diluted earnings per share improved to ¥0.03, compared to a loss of ¥0.06 per share in the same quarter last year, reflecting a 150.00% increase[9] - The company's total revenue for the reporting period was 180.86 million yuan, an increase of 88.21% compared to the same period last year, primarily due to a significant increase in testing revenue[18] - Net profit for the reporting period was 20.01 million yuan, reflecting a 146.26% increase year-on-year, driven by the substantial rise in testing revenue[19] - The company's cash flow from operating activities was 95.79 million yuan, up 165.60% year-on-year, attributed to a 58.25% increase in cash inflow from testing services[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,927,027,733.73, down 4.28% from ¥4,102,525,083.90 at the end of the previous year[9] - The company's total assets amounted to CNY 3,927,027,733.73, a decrease from CNY 4,102,525,083.90 on December 31, 2020, reflecting a decline of approximately 4.25%[63] - The company's cash and cash equivalents decreased to CNY 623,004,980.94 from CNY 843,891,734.96, representing a decline of about 26.1%[63] - The total current liabilities increased to CNY 627,312,377.77 from CNY 540,470,848.22, indicating an increase of approximately 16.06%[64] - The company's accounts receivable rose to CNY 112,971,853.01 from CNY 78,570,291.11, marking an increase of about 43.7%[63] - The inventory decreased to CNY 1,499,582.39 from CNY 2,585,568.47, a decline of approximately 42%[63] - Total liabilities decreased to CNY 2,046,208,654.51 from CNY 2,259,519,814.04 at the end of 2020, indicating improved financial stability[69] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 28,868[13] - The top shareholder, China Certification & Inspection Group Testing Technology Co., Ltd., holds 25.09% of the shares, totaling 190,250,000 shares[13] - Net assets attributable to shareholders increased by 2.23% to ¥1,857,968,275.42 from ¥1,817,508,430.77 at the end of the last year[9] Research and Development - The company’s R&D expenses increased by 10.15% year-on-year, reflecting a commitment to enhancing its technological capabilities[21] - The company has filed 17 new patent applications during the reporting period, indicating a strong focus on protecting intellectual property and fostering innovation[24] - Research and development expenses for the quarter were CNY 17,910,636.17, compared to CNY 16,259,581.50 in the previous year, reflecting a growth in investment in innovation[72] Market and Operational Strategy - The company is actively pursuing non-public stock issuance projects and other investment projects to enhance its operational capacity[24] - The company aims to expand its high and low voltage electrical testing services, focusing on existing clients and leveraging international qualifications[30] - The company is pursuing mergers and acquisitions to enhance its competitive position in the increasingly competitive market[29] - To enhance competitiveness, the company plans to optimize its marketing system and expand its customer base, both domestically and internationally[39] Challenges and Risks - The company faces risks of market capacity shrinkage due to dependence on the economic outlook of the power and electrical equipment manufacturing industries[27] - The company is facing operational pressure due to declining revenue in the electrical testing industry, which has high fixed costs and requires continuous market recognition to maintain profitability[38] - The company has recognized the risk of goodwill impairment from acquisitions, particularly with Huaxin, which did not meet performance expectations, leading to the decision to exit the investment[37] Community and Social Responsibility - In response to the COVID-19 pandemic, the company donated 2 million yuan to support local efforts against the virus and adjusted its operations to ensure business continuity[48] - The company has actively clarified market rumors regarding its testing services, confirming that its reports are recognized by the State Grid[46] - The company has received support from local government and industry associations, emphasizing its contributions to the electrical testing sector[47] Legal and Compliance Issues - The company has faced allegations regarding the authenticity of its testing reports since 2015, which have been publicly disputed by various media outlets[43] - An expert group confirmed in January 2017 that the company's testing capabilities are robust, and the reports issued are accurate and traceable[43] - The company has faced legal challenges related to false accusations, with investigations ongoing to address these issues[43] Future Outlook - The overall operational indicators of the company experienced a decline due to the pandemic, with future performance dependent on the progression of the pandemic and related policies[48] - The company plans to continue monitoring the impact of COVID-19 on its financial status and operations[48]

Financial Performance - The company's operating revenue for Q3 2021 was ¥227,032,989.65, representing a 19.28% increase year-over-year[3]. - Net profit attributable to shareholders for Q3 2021 reached ¥61,931,655.53, a significant increase of 132.54% compared to the same period last year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥49,105,637.10, up 86.90% year-over-year[3]. - The company's basic earnings per share for Q3 2021 was ¥0.08, a 100% increase year-over-year[3]. - Total operating revenue for the current period reached ¥642.63 million, a significant increase of 27.7% compared to ¥503.22 million in the previous period[20]. - Operating profit surged to ¥166.21 million, representing a 132.5% increase from ¥71.57 million in the previous period[21]. - Net profit for the current period was ¥145.94 million, a substantial rise of 150.7% compared to ¥58.15 million in the previous period[21]. - Basic and diluted earnings per share improved to ¥0.19, up from ¥0.08 in the previous period[22]. Assets and Liabilities - The total assets at the end of Q3 2021 were ¥3,791,587,222.81, a decrease of 7.58% from the end of the previous year[3]. - The company's current assets decreased to CNY 893,592,448.31 from CNY 1,076,736,570.79, representing a reduction of about 17.0%[16]. - Cash and cash equivalents were reported at CNY 646,377,000.03, down from CNY 843,891,734.96, indicating a decline of approximately 23.3%[16]. - The total liabilities decreased to CNY 1,902,689,655.60 from CNY 2,269,679,342.37, a reduction of about 16.2%[18]. - The company's long-term borrowings decreased significantly from CNY 795,341,600.00 to CNY 532,662,000.00, a decrease of approximately 33.1%[18]. - The total equity attributable to shareholders increased to CNY 1,872,977,059.35 from CNY 1,817,508,430.77, reflecting an increase of about 3.0%[18]. Cash Flow - Cash flow from operating activities for the year-to-date was ¥430,334,933.98, reflecting a 35.68% increase[3]. - Cash flow from operating activities generated ¥430.33 million, an increase from ¥317.18 million in the previous period[25]. - Cash flow from investing activities showed a net outflow of ¥127.90 million, an improvement from a net outflow of ¥226.04 million in the previous period[26]. - Cash flow from financing activities resulted in a net outflow of ¥499.91 million, compared to a net inflow of ¥471.91 million in the previous period[26]. - The ending balance of cash and cash equivalents decreased to ¥646.38 million from ¥1,031.43 million in the previous period[26]. Accounts Receivable - The accounts receivable increased by 53.81% to ¥120,847,665.45 due to higher revenue[8]. - The company reported an increase in accounts receivable to CNY 120,847,665.45 from CNY 78,570,291.11, representing a growth of approximately 53.7%[16]. Research and Development - Research and development expenses increased to ¥53.49 million, up from ¥50.11 million in the previous period, indicating continued investment in innovation[21]. Compliance and Recognition - The company has received recognition from the China National Certification and Accreditation Administration for its quality inspection center, enhancing its market credibility[14]. - The company has successfully passed the re-evaluation by the China Classification Society and obtained the latest product testing and certification, indicating ongoing commitment to quality and compliance[14]. - The company has been awarded special funding for advanced technology research by the Suzhou municipal government, supporting its innovation initiatives[14]. Financial Adjustments - The company has implemented new leasing standards starting from 2021, necessitating adjustments to the financial statements[31]. - The third quarter report for 2021 was not audited, indicating preliminary figures[31]. - The total adjustment to the balance sheet due to the new leasing standard was CNY 1,509,749.65[30].

Financial Performance - The company's operating revenue for the reporting period was ¥415,598,173.29, representing a year-on-year increase of 32.83% compared to ¥312,888,539.79 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was ¥83,428,275.49, a significant increase of 168.04% from ¥31,124,996.93 in the previous year[21]. - The net profit after deducting non-recurring gains and losses reached ¥71,068,199.21, marking an increase of 1,850.78% compared to ¥3,643,067.04 in the same period last year[21]. - The net cash flow from operating activities was ¥249,589,428.14, up 28.82% from ¥193,745,260.17 in the previous year[21]. - The basic and diluted earnings per share were both ¥0.11, reflecting a 175.00% increase from ¥0.04 in the same period last year[21]. - Operating costs increased to ¥208,294,349.69, up 6.29% from ¥195,973,843.50 year-on-year[62]. - Research and development expenses rose to ¥35,513,604.27, reflecting a 7.11% increase from ¥33,157,113.42 in the previous year[63]. - The company reported a significant increase in income tax expenses, which rose by 162.41% to ¥15,065,982.81 from ¥5,741,303.02 due to higher income and profits[63]. - The company experienced a net cash decrease of ¥327,240,325.31, a decline of 166.63% compared to an increase of ¥491,124,128.04 in the previous year, primarily due to loan repayments[63]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,754,802,245.98, a decrease of 8.48% from ¥4,102,525,083.90 at the end of the previous year[21]. - The total liabilities decreased from 2,269.68 million yuan to 1,928.02 million yuan, a reduction of 15.06%[192]. - Current assets decreased from 1,076.74 million yuan to 805.53 million yuan, a reduction of 25.14%[191]. - Non-current assets decreased from 3,025.79 million yuan to 2,949.27 million yuan, a reduction of 2.52%[191]. - Short-term borrowings increased from 540.47 million yuan to 600.86 million yuan, an increase of 11.14%[192]. Market and Industry Trends - The electric power detection industry in China has grown from a market size of 21.25 billion yuan in 2014 to 54.85 billion yuan in 2020, with a compound annual growth rate of 14.5%[40]. - The market size of the electric power detection industry is expected to continue growing at a rate of 12.8% annually, reaching approximately 82.9 billion yuan by 2023[40]. - The expected growth rate of national electricity demand for 2021 is projected to be between 6% and 7%[35]. - The company faces risks related to the potential shrinkage of the electrical testing market due to fluctuations in the macroeconomic environment[5]. - The company’s performance is significantly influenced by the demand in the electrical equipment manufacturing industry, which is tied to the overall economic outlook[5]. Investments and Acquisitions - The company has been investing in modern electrical testing facilities, which are expected to enhance testing capabilities and drive revenue growth in the future[7]. - The company plans to continue its acquisition strategy to strengthen its market position and expand service offerings, particularly in welding machine testing and environmental testing[45]. - The company completed the acquisition of 100% equity in Suzhou Guohuan Environmental Testing Co., Ltd. on January 19, 2013, and 70.71% equity in Chengdu Sanfang Electric Co., Ltd. on April 8, 2013[97]. - The company is actively seeking quality testing resources for potential mergers and acquisitions to strengthen its market position amid increasing competition[100]. Research and Development - The company has filed 20 new domestic patents, including innovations in testing equipment, to protect its intellectual property and support ongoing innovation[58]. - The company has received financial support from the Suzhou government for its advanced technology research institute, which will bolster its R&D capabilities[48]. - The company is committed to enhancing its research and development efforts to improve innovation capabilities and management standards in response to public concerns[116]. - The company has achieved five world-leading technical indicators and five national firsts in the electrical testing field, demonstrating its strong innovation capabilities[120]. Corporate Governance and Management - The company’s management has committed to ensuring the accuracy and completeness of the financial report[3]. - The company has established a strict internal quality control management system to maintain its credibility and brand reputation[115]. - The company has established various management committees to enhance its organizational structure in response to business expansion needs[102]. - The company has maintained a stable core team and has not faced significant adverse changes in its core competitive capabilities during the reporting period[47]. Social Responsibility and Community Engagement - The company has maintained a focus on social responsibility, balancing pandemic response with business operations to ensure the completion of key testing services[121]. - In 2020, the company donated 2 million yuan to support COVID-19 relief efforts and implemented measures to ensure business continuity during the pandemic[121]. - The company actively participates in community safety and public welfare activities, contributing to local stability and harmony[135]. Risks and Challenges - The company faces risks related to the shrinking capacity of the testing market, which is influenced by the economic outlook and investment levels in the power and electrical equipment manufacturing industries[98]. - The company recognizes the risk of goodwill impairment from acquisitions and is implementing measures to control risks from the outset, including effective integration of business and management practices[110]. - There is a risk of talent loss in the technology-intensive electric testing industry, which could hinder the company's long-term development if not addressed[112]. - The company faces risks related to the rising costs of testing equipment and construction, which may lead to actual investment amounts exceeding budget estimates[103]. Shareholder Information - The total number of shares before the change was 758,322,400, with 26.13% being limited shares and 73.87% being unrestricted shares[166]. - The largest shareholder, China Inspection and Certification Group, holds 25.09% of the shares, amounting to 190,250,000 shares[169]. - The second-largest shareholder, Hu Delin, owns 24.54% of the shares, totaling 186,105,633 shares[169]. - The company has a total of 25,588 common stock shareholders at the end of the reporting period[169]. - The company repurchased 9,228,300 shares, representing 1.22% of the total shares, through a dedicated repurchase account[170]. Compliance and Regulatory Matters - The company has successfully passed the ISO 9001, ISO 14001, and ISO 45001 management system certifications[136]. - The company is not classified as a key pollutant discharge unit by environmental protection authorities[133]. - The company has no significant litigation or arbitration matters during the reporting period[146]. - There are no major related party transactions reported during the period[147].

Financial Performance - The company's operating revenue for Q1 2021 was ¥183,240,145.43, representing a 90.69% increase compared to ¥96,094,048.81 in the same period last year[7]. - Net profit attributable to shareholders was ¥22,328,687.17, a significant turnaround from a loss of ¥43,329,272.28 in the previous year, marking a 151.53% improvement[7]. - The net cash flow from operating activities reached ¥95,794,712.17, up 165.60% from ¥36,066,710.08 in the prior year[7]. - Basic earnings per share increased to ¥0.03 from a loss of ¥0.06, reflecting a 150.00% improvement[7]. - The total profit for the reporting period was 26.76 million yuan, reflecting a 152.40% increase compared to the previous year, mainly due to the surge in testing revenue[15]. - The company's basic earnings per share increased to 0.03 yuan, a rise of 152.19% year-on-year, correlating with the significant increase in net profit[16]. - The company's operating revenue for the reporting period was 183.24 million yuan, an increase of 90.69% compared to the same period last year, primarily due to a significant increase in testing revenue[15]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,911,948,709.09, down 4.65% from ¥4,102,525,083.90 at the end of the previous year[7]. - The company's total assets of trading financial assets at the end of the period were 180.22 million yuan, a 45.27% increase from the beginning of the year, mainly due to the purchase of structured deposits[14]. - The company's inventory at the end of the period was 1.50 million yuan, a decrease of 42% from the beginning of the year, primarily due to a reduction in inventory materials[14]. - The company's total liabilities decreased to CNY 2,049,549,157.04 from CNY 2,259,519,814.04, showing a decline of about 9.3%[66]. Cash Flow - The company's cash flow from operating activities was 95.79 million yuan, up 165.60% year-on-year, attributed to a 58.25% increase in cash inflow from operating activities due to higher testing revenue[16]. - The company's cash flow from investing activities was -111.51 million yuan, a decrease of 13.30% year-on-year, mainly due to reduced cash recovery from fixed assets and other long-term assets[16]. - The net cash flow from operating activities for Q1 2021 was CNY 95,794,712.17, a significant increase from CNY 36,066,710.08 in Q1 2020, representing a growth of approximately 166.5%[78]. - The total cash inflow from investment activities was CNY 124,600,166.67, compared to CNY 19,718,772.60 in the previous year, indicating a substantial increase[78]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 28,868[10]. - The largest shareholder, China Inspection and Certification Group Testing Technology Co., Ltd., held 25.09% of the shares, totaling 190,250,000 shares[10]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[11]. Government Support and Subsidies - The company received government subsidies amounting to ¥9,929,921.67 during the reporting period[8]. - The company received support from local government and industry associations, emphasizing its contributions to the electrical testing sector[43]. Risks and Challenges - The company faces risks of market capacity shrinkage in the electrical testing sector due to potential downturns in the macroeconomic environment affecting the power industry[23]. - The company is exposed to risks related to rising costs of testing equipment and construction, which may lead to budget overruns on projects[28]. - The electric testing industry is characterized by high fixed costs, and any adverse market changes could negatively impact the company's profitability and profit margins[35]. Research and Development - The company has committed to increasing its R&D investment to enhance innovation capabilities and management standards in response to public concerns[39]. - The company has maintained a strong focus on research and innovation, aiming to build a world-class laboratory with independent intellectual property rights during the 14th Five-Year Plan period[43]. - Research and development expenses increased to CNY 17,910,636.17 from CNY 16,259,581.50, reflecting an increase of about 10.1%[69]. Management and Governance - The company has established new management committees to enhance operational efficiency in response to rapid growth and organizational needs[27]. - The company completed the change of legal representative from Hu Chun to Hu Delin, as per the updated business license issued by Suzhou Administration for Industry and Commerce[46]. - The company’s board of directors elected Hu Delin as the new chairman and general manager following Hu Chun's resignation[46]. Industry Position and Strategy - The company is investing in modern electrical testing facilities, with total fixed assets and construction in progress showing rapid growth, which may impact future profitability if growth slows[26]. - The company is focusing on enhancing its competitive capabilities through a "one-stop" service model and aims to integrate testing and certification services[35]. - The company has been expanding its service areas and collaborating with relevant testing and certification institutions to align with industry consolidation trends[25]. Legal and Compliance - The company is actively monitoring the ongoing investigation into allegations against it and is prepared to pursue legal action if necessary[40]. - The company faced allegations regarding the authenticity of its testing reports since 2015, which were later investigated and found to be unfounded, confirming the integrity of its testing processes[39]. Community Engagement - In 2020, the company donated 2 million yuan to support COVID-19 relief efforts and implemented measures to ensure the continuity of its testing services during the pandemic[44].

Financial Performance - The company's operating revenue for 2020 was ¥702,297,589.56, a decrease of 12.90% compared to ¥806,336,621.48 in 2019[19]. - The net profit attributable to shareholders for 2020 was ¥86,631,780.66, down 47.98% from ¥166,542,721.85 in 2019[19]. - The net profit after deducting non-recurring gains and losses was ¥62,695,054.95, a decline of 57.33% from ¥146,914,712.78 in 2019[19]. - The net cash flow from operating activities was ¥481,327,618.59, a decrease of 3.02% compared to ¥496,310,217.80 in 2019[19]. - The total assets at the end of 2020 were ¥4,102,525,083.90, an increase of 12.34% from ¥3,651,870,338.26 at the end of 2019[19]. - The net assets attributable to shareholders decreased by 13.84% to ¥1,817,508,430.77 from ¥2,109,355,371.08 at the end of 2019[19]. - The basic earnings per share for 2020 was ¥0.11, down 50.00% from ¥0.22 in 2019[19]. - The diluted earnings per share for 2020 was also ¥0.11, reflecting the same 50.00% decrease from ¥0.22 in 2019[19]. - The operating profit for the year was CNY 97.03 million, down 48.68% year-on-year[69]. - Total profit amounted to CNY 94.21 million, reflecting a decline of 50.10% compared to the previous year[69]. - The net profit for the year was CNY 87.27 million, a decrease of 47.85% year-on-year[69]. - The company faced significant revenue decline in the first half of 2020 due to the impact of the COVID-19 pandemic[69]. Investment and Assets - The total fixed assets and construction in progress reached CNY 2.933 billion by the end of the reporting period, indicating a significant investment in modern electrical testing facilities[5]. - Fixed assets decreased by 4.78% from CNY 2,452.67 million at the beginning of the period to CNY 2,335.50 million at the end of the period, primarily due to increased depreciation expenses[46]. - Construction in progress increased by 17.73% from CNY 480.42 million at the beginning of the period to CNY 565.61 million at the end of the period, driven by investments in new testing systems and projects[46]. - The company has ongoing significant non-equity investments, with a focus on technology and service sectors[120]. - The company’s investment in the R&D testing workshop reached ¥33,521,800, with a cumulative investment of ¥121,209,000[120]. - The total amount of funds raised by the company was RMB 529,999,995.21, with a net amount of RMB 515,661,672.72 after deducting underwriting and other fees[126]. - The company has not utilized any of the raised funds for purposes outside the originally stated projects, maintaining full compliance with the investment commitments[127]. Market and Industry Trends - The company faces risks of market contraction in electrical testing services due to potential downturns in the power and electrical equipment manufacturing industries, which are influenced by macroeconomic conditions[5]. - The electrical testing industry in China is experiencing rapid growth, driven by investments in smart grids and ultra-high voltage projects, with significant market potential expected in the future[34]. - The expected annual growth rate of national electricity demand during the 14th Five-Year Plan period is approximately 4.4%[34]. - The company is positioned to benefit from the increasing demand for testing services in various sectors, including new energy and smart manufacturing[38]. - The market size of China's electric power testing industry grew from RMB 21.25 billion in 2014 to RMB 54.85 billion in 2020, with a compound annual growth rate (CAGR) of 14.5%[39]. - The electric power testing industry in China is expected to continue growing at a rate of 12.8% annually, reaching approximately RMB 82.9 billion by 2023[39]. Research and Development - The company has maintained a leading position in the electric testing market, ranking among the top in total assets, revenue, and market share in high and low voltage electrical testing from 2018 to 2020[41]. - The company completed various testing tasks for domestic and international enterprises, including high and low voltage electrical equipment testing[30]. - The company actively participated in the development of national standards, completing drafts for three industry standards in 2020, including the "General Principles for Reliability Evaluation of Machine Tool Electrical Equipment"[55]. - The company added 31 new patents in 2020, including inventions related to "wire-wound non-inductive resistor detection devices" and "new types of impact large current non-inductive resistors"[59]. - The company is focused on protecting its intellectual property through ongoing patent applications, with 33 new patents filed as of the reporting period[59]. - The company has emphasized the importance of research and development in its strategy, with a significant number of patents aimed at improving electrical safety and efficiency[60]. Testing Capabilities and Services - The company is enhancing its testing capabilities through the construction of advanced high and low voltage electrical testing systems, which are expected to drive revenue growth in the testing business[5]. - The company has established a "one-stop" service model for electrical testing, providing comprehensive testing services for both high and low voltage electrical products[42]. - The company is recognized as the only independent third-party testing institution in China capable of conducting both high and low voltage electrical testing[42]. - The company completed the commissioning of its 1200kV synthetic circuit testing system and enhanced its testing capabilities for high-capacity transformers and generators during the reporting period[41]. - The company has obtained the qualification to provide services to the China National Nuclear Corporation, enhancing its capabilities in nuclear equipment testing[36]. - The company is preparing to contribute to national energy security by developing testing services for high-voltage and nuclear electrical equipment[36]. Financial Management and Strategy - The company plans to distribute a cash dividend of CNY 1.2 per 10 shares, based on a total of 749,094,187 shares, with no bonus shares issued[6]. - The company aims to enhance its quality management practices to create greater value for shareholders and customers[81]. - The company plans to continue expanding its market presence and improving investor relations through various communication channels[82]. - The company has a total debt balance of 2.042 billion RMB, accounting for 89.99% of its total liabilities, with short-term borrowings of 540 million RMB and long-term borrowings of 795 million RMB as of December 31, 2020[142]. - The company is actively seeking to optimize its debt structure and reduce financial pressure through various financing channels[144]. - The company plans to issue corporate bonds totaling up to RMB 700 million, with the first phase of issuance completed at RMB 300 million and a coupon rate of 5.00%[150]. Corporate Social Responsibility - The company donated 2 million yuan to support COVID-19 prevention efforts through the Wuzhong District Red Cross on February 20, 2020[189]. - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties during the reporting period[199]. - The company continues to focus on maintaining shareholder value through strategic commitments and adherence to regulations[199].

Financial Performance - Net profit attributable to shareholders decreased by 45.78% to CNY 26,632,426.15 year-on-year[7] - Operating revenue declined by 10.81% to CNY 190,329,658.51 for the current period[7] - Basic earnings per share fell by 33.33% to CNY 0.04[7] - The weighted average return on net assets decreased by 48.35% to 1.25%[7] - Net profit after deducting non-recurring gains and losses dropped by 44.15% to CNY 26,273,055.66[7] - The company reported a 50.36% decrease in total profit compared to the previous year, leading to a 49.46% reduction in income tax expenses[19] - The net profit for the third quarter was CNY 26,840,234.92, down from CNY 49,403,100.33 year-over-year, representing a decline of approximately 45.7%[46] - The total profit for the third quarter was CNY 31,720,956.55, compared to CNY 58,183,348.78 in the same period last year, a decrease of around 45.4%[46] - The total comprehensive income for the third quarter was CNY 26,840,234.92, compared to CNY 46,451,132.78 in the previous year, indicating a decrease of about 42.0%[47] Assets and Liabilities - Total assets increased by 15.31% to CNY 4,210,858,505.83 compared to the end of the previous year[7] - Total liabilities reached CNY 2,333,734,408.03, up from CNY 1,527,376,331.17 in the previous year[39] - Non-current liabilities totaled CNY 1,161,959,722.01, an increase from CNY 893,130,674.40 year-over-year[39] - The company's total assets as of September 30, 2020, were CNY 4,210,858,505.83, compared to CNY 3,651,870,338.26 at the end of 2019[39] - Total liabilities reached CNY 1,527,376,331.17, with current liabilities at CNY 634,245,656.77 and non-current liabilities at CNY 893,130,674.40[70] - The total liabilities to equity ratio was approximately 0.72, indicating a balanced capital structure[70] Cash Flow - Cash flow from operating activities decreased by 9.10% to CNY 317,177,122.80[7] - The net cash flow from operating activities decreased by 9.10% to ¥317,177,122.80, with cash received from sales decreasing by ¥104.27 million due to the impact of the pandemic[19] - The net cash flow from investing activities was -¥226,036,813.91, an increase of 13.14% compared to the previous year, primarily due to increased capital expenditures on equipment projects[20] - The net cash flow from financing activities decreased by 488.68% to ¥471,912,744.41, with cash received from borrowings increasing by ¥832.73 million[21] - The company reported a net cash increase of CNY 563,053,053.30 during the period, compared to CNY 27,738,049.93 in the previous period, indicating improved liquidity[61] Shareholder Information - The total number of shareholders at the end of the reporting period was 27,493[11] - The largest shareholder, China Inspection and Certification Group, holds 25.09% of shares[11] - The company has repurchased a total of 205,900 shares, accounting for 0.0271% of the total share capital, with a total payment of approximately RMB 1.75 million (excluding transaction fees) as of September 30, 2020[25] - The company plans to repurchase shares with a total fund of no less than RMB 50 million and no more than RMB 100 million, with a maximum price of RMB 9.70 per share[25] Operational Highlights - The company successfully passed certification inspections, enhancing its credibility and influence in the domestic and international testing fields[22] - The company received government subsidies amounting to ¥31,108,806.99, an increase of 236.00% compared to the previous year[18] - The company received the Jiangsu Provincial Governor Quality Award nomination in September 2020, recognizing its commitment to quality management[24] - The company successfully passed the credit management demonstration enterprise evaluation, which is expected to promote its long-term sustainable development[24] Research and Development - The company's R&D expenses for Q3 2020 were CNY 16,953,121.69, down from CNY 20,993,926.47 in the same period last year[45] - Research and development expenses for the third quarter were CNY 15,732,902.83, down from CNY 19,606,161.03 in the previous year[49] - R&D expenses in Q3 2020 amounted to ¥50,110,235.11, compared to ¥54,461,958.60 in the previous year, reflecting a decrease of 8.1%[54] Other Financial Metrics - The company reported a financial expense of CNY 18,972,969.60, which increased from CNY 14,160,468.03 in the previous period[49] - The company recorded a tax expense of CNY 4,880,721.63 for the third quarter, down from CNY 8,780,248.45 in the previous period[46] - The income tax expense for Q3 2020 was ¥10,622,024.65, a decrease of 49.5% compared to ¥21,014,997.65 in Q3 2019[54] Audit and Compliance - The third quarter report has not been audited[75] - The company implemented new revenue and lease standards starting from 2020, with retrospective adjustments to prior comparative data[75]

Financial Performance - The company's operating revenue for the reporting period was ¥312,888,539.79, a decrease of 14.82% compared to the same period last year[23]. - The net profit attributable to shareholders was ¥31,124,996.93, reflecting a decline of 54.12% year-over-year[23]. - The net profit after deducting non-recurring gains and losses was ¥3,643,067.04, down 94.16% from the previous year[23]. - The net cash flow from operating activities was ¥193,745,260.17, a decrease of 24.81% compared to the same period last year[23]. - The total assets at the end of the reporting period amounted to ¥4,181,105,516.05, an increase of 14.49% from the end of the previous year[23]. - The net assets attributable to shareholders decreased to ¥1,837,151,373.21, down 12.90% from the previous year[23]. - The basic and diluted earnings per share were both ¥0.04, a decrease of 55.56% year-over-year[23]. - The weighted average return on equity was 1.46%, down 1.85% from the previous year[23]. - The company reported non-recurring gains of ¥27,481,929.89 for the period[28]. - The company's total revenue for the first half of 2020 was CNY 308,086,162.34, a decrease of 15.55% compared to the same period last year[77]. Market Conditions and Risks - The company faces risks related to the potential shrinkage of the electrical testing market due to fluctuations in the macroeconomic environment and the power industry[5]. - The company's performance is significantly influenced by the economic conditions of the power and electrical equipment manufacturing industries[5]. - The company faces risks related to the shrinking market capacity for electrical testing services, influenced by the economic conditions of the power and electrical equipment manufacturing industries[114]. - The company faces risks related to raw material price fluctuations, but the main consumables required for testing services are in sufficient supply and have stable prices[119]. Investments and Assets - The total amount of fixed assets and construction in progress reached CNY 2.933 billion by the end of the reporting period[7]. - The company has invested in modernizing its comprehensive electrical testing base, which may lead to increased depreciation impacting future profitability if growth slows[6]. - The company has ongoing projects with a total investment of CNY 1,522,490, including various self-built technical service projects[89]. - The company has a total of CNY 24,000,000 in derivative financial assets, reflecting its investment strategy[91]. - The company has a total of CNY 19,630,483.33 in other financial assets, indicating a diversified investment portfolio[91]. Testing and Certification Services - The company operates as an independent third-party testing institution, focusing on technical testing services across various electrical and electronic fields[32]. - The company has a comprehensive "one-stop" service model, being the only independent third-party testing institution in China that can conduct both high and low voltage electrical testing[41]. - The company achieved a goal of integrated testing and certification services in early 2018, aligning with international industry trends[42]. - The company has enhanced its testing capabilities, including a 1200kV high voltage insulation testing capability and a 500kV/1200MVA short-circuit testing capability[40]. - The company is positioned to meet the testing demands of national ultra-high voltage projects, with ongoing improvements in testing systems and capabilities[40]. - The company has received the "Qualified Supplier Certificate" from the China National Nuclear Corporation, allowing it to provide services to nuclear power projects[38]. - The company has been actively involved in the formulation and revision of national and industry standards, completing 6 national standards and 2 industry standards during the reporting period[50]. Management and Governance - The company has a commitment to ensuring the accuracy and completeness of its financial reports, as stated by its management[3]. - The company has a stable management team and has attracted high-level technical talent to strengthen its research and development capabilities[43]. - The company has established a strict internal quality control management system to maintain its credibility and brand reputation[129]. - The company has outlined its strategy to prevent any future conflicts of interest with its operations[149]. - The company has established a clear framework for managing its shareholding structure to avoid conflicts of interest[148]. Financing and Debt - The company successfully issued corporate bonds totaling ¥300 million with a term of 3 years and a coupon rate of 5.00%[71]. - The company received an AA credit rating for its bonds, indicating a stable outlook for its financial health[72]. - The company has a remaining unused financing credit limit of 1.935 billion yuan, ensuring strong debt repayment capability[133]. - The company plans to continue financing through capital markets and bank loans, with a borrowing limit of RMB 2.221 billion approved at the 2014 annual shareholders' meeting[134]. - The company has multiple loan agreements with China Merchants Bank totaling RMB 29 million, with interest rates of 4.35%[177]. Corporate Social Responsibility - The company donated RMB 2 million to support COVID-19 prevention efforts in February 2020[183]. - The company donated RMB 400,000 to the Gansu Red Cross for poverty alleviation projects in 2020[185]. - The company has established a standardized environmental management system in accordance with ISO 14001, promoting low-carbon and energy-saving services[181]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 34,546[193]. - The largest shareholder, China Inspection and Certification Group Testing Technology Co., Ltd., holds 25.09% of shares, totaling 190,250,000 shares[194]. - The second-largest shareholder, Hu Delin, holds 24.54% of shares, totaling 46,526,408 shares[194]. - The company did not undergo any changes in its controlling shareholder or actual controller during the reporting period[195].

Financial Performance - Total revenue for the first quarter was ¥96,094,048.81, a decrease of 37.90% compared to ¥154,731,613.30 in the same period last year[7] - Net profit attributable to shareholders was -¥43,329,272.28, representing a decline of 369.06% from ¥16,104,057.41 year-on-year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses was -¥47,069,527.78, down 432.21% from ¥14,168,529.70 in the previous year[7] - Basic earnings per share were -¥0.06, a decline of 400.00% from ¥0.02 in the same period last year[7] - The company reported a net loss attributable to shareholders of 43.33 million yuan, a decrease of 369.06% year-on-year[21] - The total comprehensive income for the first quarter was -45,884,116.49 CNY, compared to 12,492,482.12 CNY in the previous period[94] Cash Flow and Assets - Net cash flow from operating activities was ¥36,066,710.08, a decrease of 67.33% compared to ¥110,386,330.98 in the same period last year[7] - The company's cash and cash equivalents at the end of the period amounted to 928.55 million yuan, an increase of 98.25% compared to the beginning of the year, primarily due to increased bank borrowings during the reporting period[16] - Cash inflow from operating activities totaled 113,214,356.04 CNY, down from 186,609,464.32 CNY year-on-year, representing a decrease of approximately 39.2%[97] - The net cash flow from operating activities was 36,066,710.08 CNY, significantly lower than 110,386,330.98 CNY in the same period last year, indicating a decline of about 67.3%[97] - The ending balance of cash and cash equivalents was 928,554,010.70 CNY, up from 550,096,478.90 CNY at the end of the previous period, indicating an increase of approximately 68.7%[98] Liabilities and Equity - The company's total liabilities increased by 115.37% year-on-year, with short-term borrowings rising to 313.48 million yuan, an increase of 186.37%[17] - As of March 31, 2020, the company's short-term borrowings amounted to 313 million yuan, with total liabilities reaching 1.853 billion yuan and a debt-to-asset ratio of 49.94%[54] - The company's total liabilities increased to CNY 2,076,013,745.29 from CNY 1,527,376,331.17, which is an increase of approximately 36.0%[81] - The total equity decreased to CNY 2,081,236,151.66 from CNY 2,124,494,007.09, reflecting a decline of about 2.0%[82] Operational Highlights - Operating revenue for the reporting period was 96.09 million yuan, a decrease of 37.90% year-on-year, mainly due to the impact of the COVID-19 pandemic[21] - The company's total operating costs increased to CNY 151,496,838.84 from CNY 137,986,735.94 year-on-year, with operating costs specifically rising from CNY 88,533,416.80 to CNY 96,127,157.47[88] - The company expanded its testing capabilities, adding 178 new accredited testing items, which is expected to positively impact market opportunities[30] - The company is focusing on optimizing its high and low voltage electrical testing services to ensure revenue stability and market expansion[36] Investments and Projects - The company has invested a total of 2.951 billion yuan in fixed assets and construction projects, with a significant increase in depreciation expenses, which reached 77.06 million yuan in the latest reporting period, up 13.66% year-on-year[35] - The direct current test system technology transformation project has a total investment of 380 million RMB, with 69.65% of the investment completed by the end of the reporting period[70] - The company is actively upgrading its testing systems, with the 1200kV 150kA testing system project expected to exceed budget estimates by approximately 10% due to rising construction costs[38] Social Responsibility and Recognition - The company donated 2 million yuan to the Suzhou Red Cross for COVID-19 relief efforts, demonstrating its commitment to social responsibility[32] - The company received the "2019 Suzhou Mayor Quality Award," highlighting its commitment to quality management and innovation[31] Market and Competitive Landscape - The company faces risks related to the shrinking market capacity for electrical testing services, influenced by the economic outlook and investment levels in the power industry[33] - The company aims to enhance its market competitiveness by providing "one-stop" services and has achieved integration of testing and certification[44] - The company plans to optimize its marketing system to increase market expansion efforts and develop new customers, particularly in overseas markets[46] Governance and Compliance - The company is currently under investigation for allegations of false reports, with findings indicating that the accusations are unfounded[50] - The company has been subject to negative media coverage, which it disputes, asserting that its testing reports are accurate and reliable[51] - There were no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[67] - The company has not encountered any issues with the use and disclosure of raised funds[71]

Financial Performance - The company's operating revenue for 2019 was CNY 806,336,621.48, representing a 13.78% increase compared to CNY 708,668,453.57 in 2018[20]. - The net profit attributable to shareholders for 2019 was CNY 166,542,721.85, a 30.18% increase from CNY 127,936,069.79 in 2018[20]. - The net profit after deducting non-recurring gains and losses was CNY 146,914,712.78, up 36.60% from CNY 107,553,629.49 in 2018[20]. - The basic earnings per share for 2019 was CNY 0.22, a 29.41% increase from CNY 0.17 in 2018[20]. - The company's net profit reached CNY 167,358,617.70, an increase of 30.28% compared to the previous year[72]. - Operating profit for the year was CNY 189,078,049.64, reflecting a growth of 31.20% year-on-year[72]. - The company's total costs increased by 9.37%, with operating costs rising by 11.78%[73]. - Employee compensation expenses grew by 13.46%, amounting to an increase of CNY 2,260.19 million[73]. - The net cash flow from operating activities for 2019 was CNY 496,310,217.80, a decrease of 16.37% from CNY 593,436,040.88 in 2018[20]. - The company reported a total R&D investment of ¥80.88 million, reflecting a 14.25% increase from the previous year, aimed at enhancing testing technology[105]. Assets and Investments - The total fixed assets and construction in progress reached CNY 2.933 billion by the end of the reporting period[7]. - The company achieved a fixed asset increase of 16.26%, with the end-of-period fixed assets amounting to 2,452.67 million yuan, up from 2,109.63 million yuan at the beginning of the period[47]. - The company reported a significant increase in cash outflow from operating activities, which rose by 25.48% to ¥359,914,205.72, attributed to a 169.49% increase in tax payments[112]. - The total cash inflow from financing activities dropped by 53.10% to ¥569,273,000.00, while cash outflow decreased by 46.73% to ¥817,751,372.23, resulting in a net cash outflow of ¥248,478,372.23[112]. - The company has a total debt balance of 1.278 billion RMB, accounting for 83.70% of its total liabilities, with short-term borrowings of 109 million RMB and long-term borrowings of 341 million RMB[151]. Market and Industry Trends - The company faces risks related to the potential shrinkage of the electrical testing market due to fluctuations in the macroeconomic environment[5]. - The electrical testing industry in China is experiencing rapid growth, driven by investments in smart grids and ultra-high voltage projects[34]. - The electrical testing market is expected to grow due to increased investments in power grid construction and upgrades, particularly in ultra-high voltage projects[39]. - The company is positioned to benefit from the ongoing recovery in the downstream electrical equipment manufacturing sector since mid-2015[34]. - The company is actively expanding its testing services for renewable energy equipment, including wind, solar, and nuclear power, to contribute to the development of clean energy[161]. Testing Capabilities and Innovations - The company has been actively expanding its high and low voltage electrical testing services, which are influenced by the demand in the power and electrical equipment manufacturing industries[5]. - The company has expanded its testing capabilities, including a 1200kV ultra-high voltage insulation testing system, enhancing its service offerings for national projects[39]. - The company successfully completed the first internal arc discharge and fire verification test in transformer oil in China, establishing the world's first multifunctional large-scale explosion-proof laboratory[51]. - The company achieved a total operating revenue of RMB 806.34 million in 2019, representing a year-on-year growth of 13.78%[95]. - The company has developed new testing and detection methods for electrical products, contributing to industry standards and practices[60]. Corporate Governance and Transparency - The board of directors has confirmed that all members attended the meeting to review the annual report, ensuring accountability for its accuracy[3]. - The company is committed to maintaining transparency and has designated specific media for information disclosure[18]. - The company emphasizes the importance of understanding the difference between plans, forecasts, and commitments in its forward-looking statements[4]. - The company has established new management committees to enhance its organizational structure in response to rapid growth[184]. Challenges and Risks - The company acknowledges the risk of future profit decline due to increased depreciation from new fixed assets[6]. - The company acknowledges the risk of declining revenue due to high fixed costs in the electrical testing industry, which could adversely affect profitability if market conditions worsen[192]. - The COVID-19 pandemic is expected to significantly impact the company's operations in Q1 2020, with potential delays in production and business activities throughout the year[200]. - The company is facing challenges in project financing and is exploring various financing channels, including stock financing and asset securitization[159]. Research and Development - The company has been recognized for its innovative capabilities, winning multiple awards including the second prize for scientific and technological progress from the China Machinery Industry Federation[50]. - The company continues to prioritize patent applications to protect its intellectual property and maintain its innovation mechanism[62]. - Since 2019, the company has recruited 18 doctoral and master's graduates, along with 5 industry experts, to strengthen its talent pool[194]. - The company is actively recruiting and training technical and management personnel to enhance its R&D capabilities[148]. Client Relations and Market Presence - The company completed various testing tasks for domestic and international enterprises, including major clients like Siemens and ABB[30]. - The company has established partnerships with various certification and testing organizations to enhance its collaborative efforts in the industry[78]. - The company aims to enhance its market share and fill technical gaps in electrical testing, aspiring to become a world-class testing institution[171]. - The company plans to continue expanding its communication with investors through various activities, including roadshows and investor meetings[85].

Financial Performance - Operating revenue for the reporting period was ¥213,401,020.44, representing a year-on-year growth of 12.85%[7] - Net profit attributable to shareholders was ¥49,115,994.49, reflecting a 24.09% increase compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥47,039,319.92, up by 22.12% year-on-year[7] - Basic earnings per share for the reporting period were ¥0.06, a 20.00% increase compared to the same period last year[7] - The weighted average return on net assets was 2.42%, an increase of 0.42% compared to the previous year[7] - Total operating revenue for the current period reached ¥213.40 million, an increase of 12.83% from ¥189.10 million in the previous period[50] - Net profit for the current period was ¥49.40 million, representing a 24.00% increase compared to ¥39.70 million in the previous period[51] - The total profit for the current period was ¥58.18 million, an increase of 24.00% from ¥46.81 million in the previous period[51] - The company reported a total profit of ¥138,325,693.84, which is a 27.50% increase from ¥108,596,890.42 in the previous period[59] Assets and Liabilities - Total assets at the end of the reporting period reached ¥3,726,808,456.49, an increase of 0.99% compared to the end of the previous year[7] - Total current assets increased to ¥722,436,148.41 from ¥640,443,297.12, representing a growth of approximately 12.4%[41] - Total liabilities decreased slightly to ¥1,658,060,947.71 from ¥1,642,069,468.37, a change of about 1.0%[42] - The company's total assets reached ¥3,726,808,456.49, up from ¥3,690,203,556.20, indicating an increase of approximately 1.0%[43] - Long-term borrowings decreased to ¥397,974,200.00 from ¥526,866,398.04, a reduction of about 24.4%[42] - The total owner's equity increased to ¥2,068,747,508.78 from ¥2,048,134,087.83, showing a growth of about 1.0%[43] - Total liabilities reached CNY 1,642,069,468.37, with current liabilities at CNY 809,351,247.21 and non-current liabilities at CNY 832,718,221.16[77] - Owner's equity totaled CNY 2,048,134,087.83, including CNY 758,322,487.00 in share capital and CNY 464,851,005.91 in undistributed profits[77] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥348,937,128.04, down by 21.84% compared to the same period last year[7] - Operating cash inflow for the period was CNY 597,376,106.61, a decrease from CNY 649,709,098.10 in the previous period, representing a decline of approximately 8%[67] - Cash inflow from financing activities was CNY 541,523,000.00, significantly lower than CNY 1,003,283,860.00 from the previous period, a decrease of about 46%[68] - Cash and cash equivalents at the end of the period totaled CNY 587,283,652.26, up from CNY 545,259,350.44, an increase of about 8%[68] - Total cash outflow for investment activities was CNY 199,789,358.60, compared to CNY 160,383,808.17 in the previous period, indicating an increase of approximately 24%[68] Shareholder Information - The total number of shareholders at the end of the reporting period was 32,454[11] - The top shareholder, China Inspection and Certification Group Testing Technology Co., Ltd., holds 25.09% of the shares, totaling 190,250,000 shares[11] Inventory and Receivables - Accounts receivable increased by 42.18% to CNY 65,086,118.72 from CNY 45,778,685.11 due to an increase in unsettled receivables[18] - Inventory increased by 53.20% to CNY 2,081,451.61 from CNY 1,358,671.97, mainly due to a rise in raw material stock[18] - The company's accounts receivable increased to ¥55,882,769.86 from ¥38,509,713.85, a rise of approximately 45.4%[45] - The company's inventory increased to ¥1,336,819.19 from ¥568,631.93, representing a significant increase of approximately 134.0%[45] Government Subsidies - The company received government subsidies amounting to ¥9,258,664.02 during the reporting period[8] - The company received government subsidies totaling CNY 2.95 million from April 1, 2019, to June 30, 2019, which accounted for approximately 2.31% of the net profit attributable to shareholders for the fiscal year 2018[30] - In the first half of 2019, the company and its subsidiaries received government subsidies amounting to CNY 4.29 million, representing about 3.36% of the net profit attributable to shareholders for the fiscal year 2018[30] Strategic Initiatives - The company continues to focus on market expansion and new product development as part of its strategic initiatives[57] - The company expanded its testing capabilities for transformers from 500kV/1500MVA to 1100kV/1500MVA, which is expected to positively impact related testing business markets[28] - The company was included in the list of designated institutions for mandatory product certification for explosion-proof electrical products, which is anticipated to expand its service range in this area[29] Compliance and Changes - The company completed the business registration change on July 26, 2019, as approved by the Suzhou Municipal Administration for Industry and Commerce[32] - The company passed the national laboratory accreditation and qualification recognition review, increasing the transformer voltage level from 500kV/1500MVA to 1100kV/1500MVA[32] - The company was included in the list of designated laboratories for mandatory product certification of explosion-proof electrical products by the Certification and Accreditation Administration of China[33] - The financial report indicates a shift in accounting standards affecting the classification of certain financial assets, impacting the reported figures[79] - The company adopted new financial instrument standards starting January 1, 2019, impacting the classification of certain investments[82] - The third quarter report was not audited, indicating a potential area for further scrutiny[83]