Financial Performance - The company's operating revenue for Q1 2022 was ¥166,861,643.14, a decrease of 7.74% compared to ¥180,855,490.50 in the same period last year[3] - The net profit attributable to shareholders for Q1 2022 was ¥14,586,872.67, down 26.67% from ¥19,893,360.26 in Q1 2021[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥8,893,178.34, a decline of 35.41% compared to ¥13,767,600.70 in the previous year[3] - The basic earnings per share for Q1 2022 was ¥0.02, a decrease of 33.33% from ¥0.03 in Q1 2021[3] - Total operating revenue for the current period is $166.86 million, down from $180.86 million in the previous period, representing a decrease of approximately 7.3%[23] - Net profit for the current period is $14.99 million, down from $20.01 million, indicating a decrease of around 25%[24] - Basic earnings per share decreased to $0.02 from $0.03, a decline of 33.3%[25] Assets and Liabilities - The total assets at the end of Q1 2022 were ¥3,903,871,249.44, an increase of 3.54% from ¥3,770,383,186.72 at the end of the previous year[3] - The company's current assets reached RMB 1,072,533,345.57, up from RMB 865,887,305.71 at the beginning of the year, indicating a growth of approximately 23.9%[19] - The total liabilities of the company were RMB 1,931,908,202.33, compared to RMB 1,813,414,675.00 at the beginning of the year, representing an increase of approximately 6.5%[21] - The total equity attributable to shareholders of the parent company was RMB 1,955,465,265.12, slightly up from RMB 1,940,878,392.45, indicating a modest growth of about 0.8%[21] Cash Flow - The cash flow from operating activities for Q1 2022 was ¥85,452,725.52, down 10.80% from ¥95,794,712.17 in the same period last year[3] - Cash flow from operating activities generated a net amount of $85.45 million, down from $95.79 million, a decrease of about 10.5%[28] - Cash flow from investing activities resulted in a net outflow of $8.24 million, an improvement from a net outflow of $111.51 million in the previous period[29] - Cash flow from financing activities generated a net inflow of $116.31 million, compared to a net outflow of $205.16 million previously, indicating a significant turnaround[29] - The ending cash and cash equivalents balance increased to $756.49 million from $623.00 million, an increase of approximately 21.4%[29] Borrowings and Subsidies - The short-term borrowings increased by 38.30% to ¥702,765,465.64 in Q1 2022 compared to ¥508,158,859.05 at the end of the previous year[8] - The company's short-term borrowings rose significantly to RMB 702,765,465.64 from RMB 508,158,859.05, marking an increase of around 38.3%[20] - The company received government subsidies amounting to ¥7,132,896.61 during the reporting period, contributing positively to its financial performance[5] Inventory and Shares - The company's inventory decreased to RMB 744,570.43 from RMB 855,203.02, showing a decline of approximately 12.9%[19] - The company reported a total of 244,702,233 shares at the end of the period, with no new shares issued during the quarter[15] - The company has a scheduled release of locked shares for major shareholders on May 29, 2022, which may impact future share liquidity[15] Other Information - The weighted average return on equity for Q1 2022 was 0.75%, a decrease of 0.34% from 1.09% in Q1 2021[3] - The company is actively involved in the development of new technologies and products, although specific details were not disclosed in the report[16] - The company has not undergone an audit for the first quarter report[30]

Financial Performance - The company's operating revenue for the reporting period was ¥406,051,358.03, representing a 29.78% increase compared to ¥312,888,539.79 in the same period last year[29]. - The net profit attributable to shareholders was ¥75,585,055.21, a significant increase of 142.84% from ¥31,124,996.93 year-over-year[29]. - The net profit after deducting non-recurring gains and losses reached ¥63,224,978.93, marking a remarkable increase of 1,635.49% compared to ¥3,643,067.04 in the previous year[29]. - The net cash flow from operating activities was ¥249,589,428.14, up by 28.82% from ¥193,745,260.17 in the same period last year[29]. - Basic and diluted earnings per share were both ¥0.10, reflecting a 150.00% increase from ¥0.04 in the previous year[29]. - The weighted average return on equity was 4.07%, an increase of 2.61% compared to 1.46% in the previous year[29]. - The company's revenue for the reporting period reached ¥406,051,358.03, representing a year-on-year increase of 29.78% compared to ¥312,888,539.79 in the same period last year[71]. - Operating costs increased to ¥208,294,349.69, up 6.29% from ¥195,973,843.50 year-on-year[71]. - Research and development investment rose to ¥35,513,604.27, reflecting a 7.11% increase from ¥33,157,113.42 in the previous year[71]. - Income tax expenses surged by 138.29% to ¥13,680,802.47, compared to ¥5,741,303.02 last year, driven by increased revenue and profit[71]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,765,668,246.14, a decrease of 8.21% from ¥4,102,525,083.90 at the end of the previous year[29]. - The net assets attributable to shareholders were ¥1,823,768,667.93, showing a slight increase of 0.34% from ¥1,817,508,430.77 at the end of the previous year[29]. - The company's total assets decreased in proportion to total liabilities, with fixed assets accounting for 58.66% of total assets, down from 56.93%[78]. - The company's total liabilities decreased from CNY 2,259,519,814.04 to CNY 1,917,455,188.72, representing a decline of about 15.1%[200]. - The company's equity attributable to shareholders increased slightly from CNY 1,762,768,167.35 to CNY 1,764,110,973.26, a growth of approximately 0.08%[200]. Market and Industry Trends - The electric power detection industry market size 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%[47]. - The market size of China's electric power detection industry is expected to continue growing at a rate of 12.8% over the next five years, reaching approximately RMB 82.9 billion by 2023[47]. - The expected growth rate for national electricity demand in 2021 is projected to be between 6% and 7%[42]. - The average annual growth rate of electricity demand during the "14th Five-Year Plan" period is estimated to be around 4.4%[42]. - The electric power detection market is expected to benefit from significant investments in infrastructure, including high-voltage and ultra-high-voltage projects[47]. Company Strategy and Operations - The company plans to not distribute cash dividends, issue bonus shares, or increase share capital from reserves[10]. - The company is prepared to contribute to national energy security by offering testing services for nuclear electrical appliances[44]. - 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[52]. - The company has established international partnerships to enhance its global reputation and credibility, being the only domestic laboratory with both IECEE CB and IECEx international qualifications[53]. - The company aims to support the export of domestic electrical products by providing reliable quality assurance, fulfilling its historical mission in the electrical testing industry[53]. Research and Development - The company has filed 20 new domestic patents, including inventions related to testing equipment, to protect its intellectual property and foster innovation[66]. - The company has maintained a strong focus on research and innovation, aiming to build a world-class laboratory with complete independent intellectual property rights during the 14th Five-Year Plan period[125]. - The company has achieved five world-leading technical indicators and five national first technical indicators, receiving widespread recognition and praise in the industry and among users[125]. Social Responsibility and Community Engagement - The company donated 2 million yuan to support the fight against the COVID-19 pandemic, demonstrating its commitment to social responsibility[126]. - The company actively participated in public welfare activities, contributing nearly RMB 200,000 to local sports events during the reporting period[140]. - The company donated 2 million yuan to the Suzhou Red Cross for COVID-19 relief efforts[138]. Governance and Compliance - The company has established a strict internal quality control management system to safeguard its reputation and credibility in the market[121]. - The company has not reported any significant lawsuits or arbitration matters during the reporting period[149]. - The company has not engaged in any entrusted financial management, derivative investments, or entrusted loans during the reporting period[98][99][100].

Financial Performance - The company's revenue for Q3 2021 reached ¥219,595,795.13, representing a 15.38% increase year-over-year[3] - Net profit attributable to shareholders was ¥55,998,750.76, a significant increase of 110.27% compared to the same period last year[3] - The net profit after deducting non-recurring gains and losses was ¥43,172,732.33, up 64.32% year-over-year[3] - The basic earnings per share for the period was ¥0.07, reflecting a 75.00% increase compared to the previous year[3] - Total operating revenue for the current period reached ¥625.65 million, a 24.4% increase from ¥503.22 million in the previous period[19] - Operating profit for the current period was ¥149.99 million, a significant increase of 109.5% compared to ¥71.57 million in the previous period[20] - Net profit for the current period was ¥132.15 million, representing a 127.0% increase from ¥58.15 million in the previous period[20] - Basic and diluted earnings per share both improved to ¥0.18, up from ¥0.08 in the previous period[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,799,492,921.28, a decrease of 7.39% from the end of the previous year[3] - The company's current assets decreased to CNY 901,449,530.88 from CNY 1,076,736,570.79, representing a reduction of about 16.3%[15] - The total liabilities decreased to CNY 1,903,805,003.15 from CNY 2,269,679,342.37, a decline of around 16.1%[17] - The company's long-term borrowings decreased significantly from CNY 795,341,600.00 to CNY 532,662,000.00, a reduction of approximately 33.1%[17] - The total equity attributable to shareholders increased to CNY 1,879,767,418.69 from CNY 1,817,508,430.77, reflecting a growth of about 3.4%[17] Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥430,334,933.98, an increase of 35.68%[3] - Cash flow from operating activities generated a net amount of ¥430.33 million, an increase of 35.6% from ¥317.18 million in the previous period[24] - Cash flow from investing activities resulted in a net outflow of ¥127.90 million, an improvement from a net outflow of ¥226.04 million in the previous period[25] - Cash flow from financing activities showed a net outflow of ¥499.91 million, compared to a net inflow of ¥471.91 million in the previous period[25] - The ending balance of cash and cash equivalents was ¥646.38 million, down from ¥1,031.43 million in the previous period[25] Accounts Receivable and Inventory - The company experienced a 63.95% increase in accounts receivable, attributed to higher revenue[8] - The company reported an increase in accounts receivable to CNY 128,819,078.35 from CNY 78,570,291.11, which is an increase of approximately 63.9%[15] - The company’s inventory decreased to CNY 866,217.01 from CNY 2,585,568.47, a significant decline of approximately 66.5%[15] Investment and R&D - The company’s investment income surged by 544.49% to ¥3,075,663.43 due to reclassification of structured deposit income[10] - Research and development expenses increased to ¥53.49 million, up from ¥50.11 million in the previous period, indicating continued investment in innovation[20] - The company is actively involved in new product testing and has received funding for advanced technology research, indicating ongoing investment in innovation[13] Recognition and Quality - The company has received recognition from the China National Certification and Accreditation Administration for its quality inspection center, enhancing its market credibility[13] Audit Status - The report for Q3 2021 was not audited, which may affect the reliability of the financial data presented[30]

Financial Performance - The company's operating revenue for 2021 was ¥862,609,338.39, representing a 22.83% increase compared to ¥702,297,589.56 in 2020[21]. - The net profit attributable to shareholders for 2021 was ¥192,694,779.73, a significant increase of 122.43% from ¥86,631,780.66 in 2020[21]. - The net profit after deducting non-recurring gains and losses was ¥159,056,913.86, up 153.70% from ¥62,695,054.95 in 2020[21]. - The net cash flow from operating activities increased by 30.31% to ¥627,235,711.00 in 2021 from ¥481,327,618.59 in 2020[21]. - The company's basic earnings per share for 2021 was ¥0.26, reflecting a 136.36% increase from ¥0.11 in 2020[21]. - The weighted average return on equity for 2021 was 10.20%, up from 4.36% in 2020[21]. - The company achieved operating revenue of ¥862,609,338.39, an increase of 22.83% compared to the previous year[67]. - The net profit attributable to shareholders increased by 122.43% to ¥192,694,779.73, while the net profit excluding non-recurring gains and losses rose by 153.7% to ¥159,056,913.86[67]. Investment and Assets - The total fixed assets and construction in progress of the company reached CNY 2.774 billion by the end of the reporting period[7]. - The total assets at the end of 2021 were ¥3,770,383,186.72, a decrease of 8.10% from ¥4,102,525,083.90 at the end of 2020[21]. - The company has a commitment to invest RMB 53,000 million in projects, with RMB 46,759.08 million already utilized, representing 88.5% of the total commitment[104]. - The company has a project completion rate of 87.35% for the direct current testing system project, with RMB 33,192.92 million invested[104]. - The company reported a total of RMB 130,381,000 in financial assets at the end of the reporting period[98]. - The company has a total of RMB 183,681,000 in initial investments across various asset categories[98]. Research and Development - The company has invested in research and development to enhance its one-stop testing service capabilities, which is crucial for customer satisfaction and operational efficiency[36]. - The company plans to increase R&D investment to enhance its innovation capabilities and focus on cutting-edge testing technologies and standards[49]. - Research and development expenditure amounted to CNY 79,134,212.34 in 2021, representing 9.17% of operating revenue[82]. - The number of R&D personnel increased by 10.25% to 269 in 2021, compared to 244 in 2020[82]. - The company has filed multiple patents for new technologies, indicating ongoing investment in R&D and innovation[66]. - The company has obtained 13 new patents in 2021, including innovations in low-temperature refrigeration systems and high-temperature test chambers[60]. Market Position and Strategy - The company expects the electric power testing market to continue growing at an annual rate of over 10%, reaching approximately ¥82.9 billion by 2023[32]. - The company aims to expand its international presence and has established partnerships with renowned international testing organizations, enhancing its global credibility[42]. - The company plans to continue its acquisition strategy to strengthen its market position and expand service offerings, responding to the increasing competition in the electrical testing industry[40]. - The company has been recognized as a "National Public Service Demonstration Platform for Small and Medium-sized Enterprises," indicating its commitment to improving service quality and supporting industrial development[39]. - The company has established a strong core competitiveness through a long-term commitment to technological innovation, with no adverse changes reported in its core capabilities during the reporting period[48]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring independence from its controlling shareholder[134]. - The board of directors consists of 9 members, including 3 independent directors, and has held 6 meetings in the reporting period[136]. - The company has a dedicated investor relations management system to enhance communication and transparency with investors[139]. - The governance practices of the company align with the regulations set forth by the China Securities Regulatory Commission and the Shenzhen Stock Exchange[140]. - The company maintains a strict separation in assets, personnel, and operations from its controlling shareholder, ensuring independent business capabilities[141]. Risks and Challenges - The company faces risks of market capacity shrinkage due to potential downturns in the macroeconomic environment affecting the power and electrical equipment manufacturing industries[5]. - Future risks include potential market contraction due to economic downturns affecting the electrical equipment manufacturing sector[121]. - The company recognizes the risk of goodwill impairment following acquisitions and is taking steps to integrate operations and manage potential risks[126]. - The company faces risks related to the rising costs of testing equipment and construction, which may lead to discrepancies between estimated and actual project costs[124]. Employee and Management - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 7.03 million[168]. - The company has a training program that focuses on meeting the diverse needs of employees and enhancing their adaptability and performance[183]. - The company reported a total of 1,236 employees at the end of the reporting period, with 1,042 in the parent company and 194 in major subsidiaries[179]. - The company emphasizes the importance of cash dividends in its profit distribution policy to ensure stable returns for shareholders[185]. - The company has a competitive advantage in its salary system compared to peers in the same industry and region[182]. Environmental and Social Responsibility - The company is not classified as a key pollutant discharge unit and has taken measures to reduce carbon emissions[199]. - The company actively supports local construction and economic development, fulfilling its social responsibilities[200]. - The company is committed to improving the quality of electrical products through its testing services[200].

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]