镇江东方电热科技股份有限公司 证券代码：300217 证券简称：东方电热 镇江东方电热科技股份有限公司投资者关系活动记录表 编号：2018-003 | --- | --- | --- | |--------------|-----------------------------|------------------------------------------------------------| | | | | | 投资者关系活 | √ 特定对象调研 | □ 分析师会议 | | 动类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名称 | 海通证券：朱默辰 刘璐 | | | 及人员姓名 | | | | 时间 | 2018 年 9 月 6 日 | 13:30-16:00 | | 地点 | 公司三楼会议室 | | | 上市公司接待 | | 董事长：谭荣生 副总兼董秘：孙汉武 证代：吕树栋 | | 人员姓名 | | | | 投资者关系活 | | 接待过程中，公司严格执行《信 ...

Financial Performance - Revenue for Q3 2022 reached ¥936,603,067.82, an increase of 26.40% year-over-year[6] - Net profit attributable to shareholders was ¥89,699,916.38, up 151.50% compared to the same period last year[6] - Net profit excluding non-recurring items was ¥82,630,243.99, reflecting a 192.21% increase year-over-year[6] - Operating income decreased by 96.22% to ¥768,544.84 due to provisions for pending litigation losses from the same period last year[14] - Net profit for the current period was ¥235,520,075.87, compared to ¥79,364,868.02 in the previous period, representing a significant increase of 196%[37] - Operating profit rose to ¥262,607,898.39, up from ¥99,828,408.56, marking a 163% increase[37] - Total comprehensive income for the current period was ¥233,825,440.07, compared to ¥79,451,804.65 in the previous period[39] Assets and Liabilities - Total assets at the end of Q3 2022 amounted to ¥7,001,765,018.76, a 31.26% increase from the end of the previous year[6] - The company's total liabilities reached approximately 3.69 billion RMB, compared to 2.53 billion RMB in the previous year, indicating an increase of about 45.5%[32] - The total current assets increased to approximately 5.69 billion RMB, up from 4.13 billion RMB year-on-year, representing a growth of about 37.7%[29] Shareholder Information - Shareholders' equity reached ¥3,298,593,731.15, representing a 17.85% increase compared to the previous year[6] - The total number of common shareholders at the end of the reporting period was 46,277[15] - The top three shareholders, Tan Rongsheng, Tan Wei, and Tan Ke, collectively hold 34.68% of the shares[15] - The total number of restricted shares at the beginning of the period was 591,181,079, with 335,334,715 shares released during the period[21] Cash Flow and Investments - Cash flow from operating activities for the year-to-date was ¥366,814,791.24, showing a significant decline of 388.24%[6] - Cash received from sales and services rose by 66.53% to ¥2,460,406,129.28, attributed to increased sales collections and advance payments[14] - Cash received from investment recoveries rose by 116.86% to ¥1,845,403,166.66, influenced by the maturity of investments[14] - Cash paid for investments increased by 138.94% to ¥1,880,097,523.33, reflecting a rise in investment activities[14] - Cash inflow from investment activities was $1.86 billion, an increase from $1.13 billion in the prior period[43] - Cash outflow for investment activities amounted to $2.04 billion, compared to $976.55 million in the previous period, reflecting increased investment spending[43] Research and Development - Research and development expenses increased to ¥119,045,274.76, a rise of 41.00% compared to the previous year[11] - Research and development expenses increased to ¥119,045,274.76, up 41% from ¥84,428,665.94 in the previous period[33] New Projects and Orders - As of the report date, the company has signed new orders amounting to 3.081 billion RMB in the new energy equipment manufacturing business for the year[25] - The company is advancing its projects, including a 350,000 sets annual production capacity for PTC electric heaters, with the first phase progressing smoothly[25] - The company is currently installing equipment for a 20,000 tons annual production capacity project for nickel-plated steel substrates for lithium batteries, expected to be ready for debugging by year-end[25] Financing Activities - Total cash inflow from financing activities was $522.25 million, compared to $257.89 million in the prior period, indicating a significant increase[43] - Cash flow from financing activities netted $243.86 million, a substantial rise from $20.36 million in the previous period[43] - The company received $295.44 million from investment, marking a new source of capital[43] Tax and Other Expenses - Income tax expenses increased by 483.98% to ¥28,628,175.99, driven by an increase in taxable income[14] - Cash paid for purchasing goods and services increased by 37.19% to ¥1,677,622,741.57, resulting from higher material procurement and advance payments[14] - Other income rose to ¥8,424,889.33, up from ¥6,003,108.52 in the previous period[37] - Investment income increased significantly to ¥13,772,726.91 from ¥5,299,433.78 in the previous period[37]

Financial Performance - The company reported a total revenue of RMB 300 million for the first half of 2022, representing a year-on-year increase of 15% compared to RMB 260 million in the same period of 2021[20]. - The net profit attributable to shareholders was RMB 50 million, up 20% from RMB 41.67 million in the first half of 2021[20]. - The company's operating revenue for the reporting period reached ¥1,730,849,054.19, representing a 28.45% increase compared to ¥1,347,477,329.87 in the same period last year[28]. - Net profit attributable to shareholders was ¥146,450,171.42, a significant increase of 219.95% from ¥45,772,948.70 year-on-year[28]. - The company achieved a total revenue of 173,084.91 million yuan, representing a year-on-year growth of 28.45%[45]. - The net profit attributable to the parent company was 14,645.02 million yuan, with a significant increase of 219.95% compared to the previous year[45]. - The company reported a significant increase in operating profit, which reached 16,278.08 million yuan, a growth of 136.57% year-on-year[45]. Research and Development - The company plans to invest RMB 100 million in research and development for new heating technologies in the upcoming year[20]. - The company’s research and development investment increased by 42.07% to 73,849.38 million yuan[49]. Market Expansion - The company is expanding its market presence by entering two new provinces, targeting an additional revenue of RMB 50 million from these regions[20]. - User data indicates a growth in customer base by 10%, reaching 15,000 active users by the end of June 2022[20]. - The company has outlined a future outlook projecting a revenue growth of 25% for the full year 2022, aiming for a total revenue of RMB 1.2 billion[20]. Financial Management - No cash dividends will be distributed for the current fiscal year, as the company focuses on reinvestment strategies[6]. - The company has initiated a strategic partnership with a leading technology firm to enhance product innovation and market competitiveness[20]. - The company is exploring potential acquisition opportunities to strengthen its supply chain and expand its product offerings[20]. - The company has invested CNY 19,139,356.35 in new energy vehicle and electric heating projects, with a total actual investment of CNY 31,514,810.92[65]. - The company has a total of CNY 137,071,470.31 in cash and cash equivalents that are restricted due to bank guarantees[59]. Environmental Compliance - The company reported a total pollutant discharge of 2.6099 tons of COD and 0.5846 tons of SS, adhering to the required environmental standards[115]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[117]. Risk Management - The company plans to mitigate customer dependency risks by increasing the development of new products, new customers, and new markets, while shortening product development cycles[101]. - The company is committed to high-quality development through technological innovation to enhance its core competitiveness and market resilience[98]. - The company has established a comprehensive accounts receivable management system to minimize the risk of uncollectible debts[102]. Shareholder Dynamics - The annual shareholders meeting had a participation rate of 41.57% on May 17, 2022, where several key resolutions were passed, including the approval of the 2021 annual financial report and profit distribution plan[109]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[110]. - The company has a total of 53,728 shareholders, with major shareholders including Tan Rongsheng (12.97%), Tan Wei (11.41%), and Tan Ke (11.41%)[166]. Subsidiary Performance - The company reported a revenue of approximately 842.46 million CNY for its subsidiary Jiangsu Jiutian, with a net profit of around 20.52 million CNY, reflecting a strong performance in the optical products and battery sectors[97]. - Zhenjiang Dongfang's revenue reached approximately 656.18 million CNY, with a net profit of about 17.15 million CNY, indicating robust demand for electric heating components and related products[97]. Investment Strategy - The company has plans for future investments in low-risk financial products, indicating a strategy to manage idle funds effectively[80]. - The company has successfully recovered profits from various financial products, demonstrating effective management of its investment portfolio[80].

Financial Performance - The company's operating revenue for Q1 2022 was ¥745,705,263.26, representing a 20.49% increase compared to ¥618,896,540.99 in the same period last year[3] - Net profit attributable to shareholders was ¥57,758,545.37, a significant increase of 130.34% from ¥25,075,558.18 year-on-year[3] - Basic earnings per share rose to ¥0.0401, reflecting a 103.55% increase compared to ¥0.0197 in the same period last year[3] - Operating profit for the current period was ¥63,009,284.94, significantly higher than ¥26,010,094.73 from the previous period, indicating a growth of 142.5%[33] - Net profit for the current period was ¥57,222,982.94, compared to ¥25,071,737.27 in the previous period, representing a growth of 128.2%[33] - The total comprehensive income for the period was 57,222,982.94, compared to 25,071,737.27 in the previous period, indicating a significant increase[37] Cash Flow - The net cash flow from operating activities improved to ¥34,276,160.06, a 127.33% increase from a negative cash flow of ¥125,427,691.69 in the previous year[3] - Cash inflow from operating activities totaled 828,780,536.98, compared to 327,706,150.32 in the previous period, showing strong revenue growth[41] - Cash outflow from operating activities was 794,504,376.92, up from 453,133,842.01 in the previous period, indicating increased operational expenses[41] - Cash flow from investing activities generated a net amount of 57,717,138.67, down from 102,320,495.09 in the previous period, suggesting reduced investment activity[41] - Cash flow from financing activities resulted in a net inflow of 53,511,941.86, compared to 31,624,679.42 in the previous period, indicating increased financing efforts[44] - The ending cash and cash equivalents balance was 480,580,336.12, significantly higher than 210,487,311.77 at the end of the previous period, reflecting improved liquidity[44] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,784,711,925.99, an 8.44% increase from ¥5,334,420,045.97 at the end of the previous year[3] - The total current assets increased to CNY 4,580,994,420.76 from CNY 4,134,222,061.55, reflecting a growth of approximately 10.8%[22] - Total liabilities decreased to CNY 2,000,000,000 from CNY 2,200,000,000, showing a reduction of 9.1%[22] - Total liabilities rose to ¥2,919,263,190.13 from ¥2,526,258,516.70, an increase of 15.5%[29] - The total equity attributable to shareholders increased by 2.07% to ¥2,856,912,164.61 from ¥2,799,089,395.59 at the end of the previous year[3] - The company reported a total equity of CNY 2,580,994,420.76, which is an increase from CNY 2,134,222,061.55, reflecting a growth of approximately 21%[22] Research and Development - The company's R&D expenses increased by 35.71% to ¥31,569,947.97, up from ¥23,262,748.21 in the previous year, indicating a focus on innovation[6] - The company has maintained a strong focus on research and development to innovate new technologies and products[20] - Research and development expenses increased to ¥31,569,947.97 from ¥23,262,748.21, marking a rise of 35.8%[33] Market Strategy - The company plans to enhance its market expansion strategies and invest in new product development in the upcoming quarters[20] Shareholder Information - The company’s major shareholders include China Agricultural Bank and other investment funds, with significant stakes in the company[15] - The company has a total of 591,181,079 restricted shares, with no new restricted shares added during the reporting period[18] Sales Performance - Cash received from sales and services reached ¥799,578,433.96, a 147.16% increase from ¥323,507,383.31 in the previous year[10] - The company received 799,578,433.96 in cash from sales of goods and services, a substantial increase from 323,507,383.31 in the previous period, highlighting strong sales performance[38]

Financial Performance - The company reported a total revenue of 1,441,216,681 RMB for the year 2021, with a cash dividend of 0.20 RMB per 10 shares to all shareholders[6]. - The company's operating revenue for 2021 was ¥2,787,289,591.90, representing a 16.28% increase compared to ¥2,397,146,557.52 in 2020[28]. - The net profit attributable to shareholders for 2021 was ¥173,753,529.61, a significant increase of 187.53% from ¥60,429,291.51 in 2020[28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥103,355,090.60, up 40.55% from ¥73,534,531.87 in 2020[28]. - The company's total assets at the end of 2021 were ¥5,334,420,045.97, a 40.87% increase from ¥3,786,788,340.38 at the end of 2020[28]. - The net assets attributable to shareholders at the end of 2021 were ¥2,799,089,395.59, reflecting a 37.22% increase from ¥2,039,859,005.21 at the end of 2020[28]. - The basic earnings per share for 2021 was ¥0.13, a 160.00% increase from ¥0.05 in 2020[28]. - The weighted average return on net assets for 2021 was 7.83%, up from 3.12% in 2020, indicating improved profitability[28]. - The company achieved a consolidated revenue of 278.73 million yuan, representing a year-on-year growth of 16.28%[64]. - The net profit attributable to the parent company reached 173.75 million yuan, with a significant year-on-year increase of 187.53%[64]. Market Position and Strategy - The company plans to expand its market presence and enhance product offerings, focusing on new technologies in electric heating solutions[6]. - The company has established itself as a leading manufacturer of auxiliary electric heaters for air conditioning, with a strong market share in the household appliance sector[41]. - The company is positioned in the high-demand polysilicon production sector, benefiting from favorable national policies and high market prices for polysilicon[44]. - The company is one of the few domestic producers of polysilicon reduction furnaces and electric heaters for cold hydrogenation, holding a leading market share in the industry[45]. - The company is positioned to benefit from government policies promoting green consumption and the recovery of the real estate market, which is expected to boost demand for home appliances[52]. - The company is a leading player in the optical communication materials sector, with a strong competitive position and established relationships with major fiber optic companies[48]. Research and Development - The company is actively pursuing research and development initiatives to innovate its product line and improve efficiency in production processes[6]. - The company holds a total of 25 authorized invention patents and 162 utility model and design patents, indicating strong R&D capabilities[70]. - The company invested ¥11,053.35 million in R&D, marking a 30.46% increase year-on-year, and obtained 59 patent authorizations, a 73.53% increase[84]. - The company is focusing on developing new technologies and products, particularly in the PTC electric heater market, to maintain competitive advantages[77]. - The company is developing a waterproof electric heater for buses, which is expected to enhance product variety and meet market demand[120]. - The company is also focusing on the development of a temperature-resistant electric heating belt, which combines inorganic and organic material properties for enhanced performance[129]. - The company has successfully developed a high-efficiency heat exchanger with a small temperature difference and a high overall heat transfer coefficient, significantly improving operational load capacity[132]. Operational Efficiency and Management - The company emphasizes the importance of risk management in its future development outlook, addressing potential operational challenges[6]. - The company has maintained a consistent operational performance, with no significant changes in its registered address or corporate structure during the reporting period[22]. - The company has established a robust communication channel with investors, providing transparency in its financial reporting and strategic direction[23]. - The company adopted a lean management approach to reduce costs and improve efficiency, focusing on material price fluctuations and inventory management[88]. - The introduction of the VMI procurement supply model and the optimization of the SRM supplier relationship management platform significantly enhanced procurement efficiency[89]. - The company has strengthened partnerships with leading clients in various sectors, ensuring stable demand for its products[74]. Challenges and Risks - The company faces risks from external factors such as the ongoing COVID-19 pandemic, which has affected logistics and supply chains, although it has not significantly impacted production yet[194]. - The company is experiencing rising raw material costs, with direct materials accounting for over 60% of total costs, which may pressure profit margins if prices continue to rise[195]. - The company plans to mitigate customer dependency risks by developing new products, customers, and markets, while shortening product development cycles[199]. - The company is expanding its business scale, which brings management challenges and requires enhanced internal controls and risk management practices[200]. Future Outlook - The company aims to achieve revenue exceeding 5 billion yuan by 2025 as part of its "14th Five-Year" development plan[188]. - The company plans to enhance cost control and increase market share in the electric heating sector by optimizing production lines[188]. - The company will accelerate the technological upgrade of existing products, focusing on the new energy vehicle and equipment industry chain[188]. - The company intends to utilize capital market functions to enhance development momentum and complete automation upgrades of production lines[188].

镇江东方电热科技股份有限公司 2021 年第三季度报告 1 证券代码：300217 证券简称：东方电热 公告编号：2021-083 镇江东方电热科技股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、 准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连 带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员) 声明：保证季度报告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | --- | |------------------------------------------------------|-------|----------------|-------------------------|--------------- ...

镇江东方电热科技股份有限公司 2021 年第三季度报告 1 镇江东方电热科技股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、 准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连 带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员) 声明：保证季度报告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | --- | --- | --- | --- | --- | |------------------------------------------------------|------------------|-------------------------|--------------------------|---------------------------- ...

Financial Performance - The company's operating revenue for the reporting period was ¥1,347,477,329.87, representing a 20.69% increase compared to ¥1,116,438,050.30 in the same period last year[34]. - Net profit attributable to shareholders was ¥45,772,948.70, up 78.20% from ¥25,686,934.75 year-on-year[34]. - The net profit after deducting non-recurring gains and losses was ¥55,049,453.67, a significant increase of 262.67% from ¥15,179,120.55 in the previous year[34]. - The company's total assets at the end of the reporting period were ¥4,303,417,322.22, reflecting a 13.64% increase from ¥3,786,788,340.38 at the end of the previous year[34]. - The basic earnings per share increased to ¥0.0359, a rise of 77.72% compared to ¥0.0202 in the same period last year[34]. - The company's net cash flow from operating activities was negative at -¥24,093,239.04, a decline of 124.21% compared to ¥99,536,748.58 in the previous year[34]. - The weighted average return on net assets was 2.22%, an increase of 0.87% from 1.35% in the previous year[34]. - The company reported a total of -¥9,276,504.97 in non-recurring losses, primarily due to litigation losses and other factors[41]. Business Strategy and Operations - The company plans to enhance the development and application of new products and technologies to mitigate the risk of declining gross margins caused by high raw material costs[7]. - The company has a high customer concentration risk, particularly in the home appliance and lithium battery manufacturing sectors, and aims to diversify its customer base by developing new products and markets[11]. - The company has expanded its business scope and increased the number of subsidiaries, which has raised management efficiency requirements and led to talent shortages[12]. - The company emphasizes the importance of maintaining relationships with high-quality customers and optimizing its customer base[7]. - The company is committed to enhancing automation and cost management to improve operational efficiency[7]. - The company is actively recruiting professional talent to meet operational needs and improve management levels[12]. - The company is facing risks from rising raw material prices, which could lead to a decline in gross margins, and is responding by accelerating new product development and enhancing cost management[103]. - There is a risk of dependency on major customers in key industries, prompting the company to diversify its product offerings and customer base[104]. - The company is expanding its operations and increasing its workforce to manage growth, while also facing challenges in talent acquisition[104]. Investments and Acquisitions - The company invested CNY 36,360,000.00 in acquiring part of the assets of Qiansheng Electric Group Co., Ltd., with a project progress of 60%[80]. - The company has completed the acquisition of 51% equity in Zhenjiang Dongfang Shanyuan Electric Co., making it a wholly-owned subsidiary as of February 20, 2021[176]. - The company has completed the acquisition of 49% of Jiangsu Jiutian's shares for a total payment of 80 million yuan, with 60% of the payment already made[136]. - The company plans to acquire assets from Qiansheng Electric Group for 60,600,000 CNY, including land and factory buildings, with the transfer of property rights completed on July 5, 2021[179]. Subsidiaries and Contributions - The subsidiary Jiangsu Dongfang Ruiji Energy Equipment Co., Ltd. contributed a net profit of 7,067,198.50 CNY, accounting for over 10% of the company's net profit[99]. - The subsidiary Zhenjiang Dongfang Shanyuan Electric Heating Co., Ltd. generated a net profit of 4,297,850.00 CNY during the reporting period[99]. - The wholly-owned subsidiary Dongfang Ruiji achieved a net profit of CNY 7.0672 million, marking a turnaround from losses, primarily due to significant revenue growth in the polysilicon industry[102]. - Jiangsu Jiutian achieved a net profit of CNY 14.5223 million, benefiting from a recovery in the optical communication market and improved gross margins due to better cost management[102]. Financial Management and Risks - The company will not distribute cash dividends or issue bonus shares, focusing instead on reinvestment for growth[12]. - The company aims to strengthen customer credit grading and accounts receivable management to reduce bad debt risks associated with accounts receivable[12]. - The company has integrated 东方山源 as a wholly-owned subsidiary, which may create goodwill that could be impaired if future earnings do not meet expectations[12]. - The company has established long-term cooperative relationships with major suppliers, ensuring a stable supply chain for raw materials[51]. - The company is actively enhancing its intellectual property protection to mitigate potential legal disputes related to patent infringements[59]. - The company is involved in a lawsuit regarding a patent infringement case with a claim amount of 10,200,000 yuan, which has resulted in a provision for expected liabilities of 5,728,160 yuan[136]. Environmental Compliance - The company reported a total COD discharge of 2.6099 tons, with a maximum allowable discharge of 11.592 tons, indicating compliance with environmental standards[118]. - The company has a total of 7 wastewater discharge points, with organized emissions and compliance with wastewater discharge standards[118]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[123]. - The company has filed an emergency response plan for environmental incidents, which has been recorded with the relevant authorities[119]. - The company has established a self-monitoring plan in accordance with its pollution discharge permit requirements[122]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 60,257[190]. - The largest shareholder, Tan Rongsheng, holds 14.68% of the shares, totaling 186,895,486 shares, with 140,171,614 shares under lock-up[190]. - The top three shareholders (Tan Rongsheng, Tan Wei, and Tan Ke) are related and act in concert, collectively controlling the company[193]. - The total number of locked-up shares at the end of the period is 376,734,232 shares, with 17,601,227 shares released during the period[189]. - The company has not disclosed any differences in voting rights arrangements[200].

Financial Performance - The company's operating revenue for 2020 was ¥2,397,146,557.52, an increase of 7.30% compared to ¥2,234,087,034.02 in 2019[32]. - The net profit attributable to shareholders for 2020 was ¥60,429,291.51, recovering from a loss of ¥97,771,757.07 in 2019[32]. - The net cash flow from operating activities decreased by 56.81% to ¥27,896,912.31 in 2020 from ¥64,594,361.29 in 2019[32]. - The total assets at the end of 2020 were ¥3,786,788,340.38, reflecting a growth of 6.05% from ¥3,570,832,513.53 at the end of 2019[32]. - The company's net assets attributable to shareholders increased by 8.28% to ¥2,039,859,005.21 at the end of 2020 from ¥1,883,891,829.29 at the end of 2019[32]. - The basic earnings per share for 2020 was ¥0.0500, compared to a loss of ¥0.080 in 2019[32]. - The company reported a total of ¥10,828,261.46 in gains from fair value changes of financial assets in 2020, up from ¥7,136,743.84 in 2019[37]. - The company achieved a total operating revenue of 239,714.66 million CNY, representing a year-on-year growth of 7.30%[51]. - The net profit attributable to the parent company was 6,042.93 million CNY, marking a turnaround from losses in the previous year[51]. Cost Management and Production - The company reported a significant increase in production costs due to rising prices of raw materials such as aluminum, copper, and steel, which began in the second half of 2020[7]. - The company aims to improve cost management and promote automation to achieve cost reduction and efficiency enhancement[7]. - The cost of raw materials in the civil electric heater segment was ¥1,030,816,267.23, accounting for 87.11% of the operating costs[124]. - The cost of raw materials in the industrial equipment manufacturing segment was ¥204,482,536.32, representing 84.72% of the operating costs[124]. - The cost of raw materials in the optical communication industry was ¥429,883,706.17, which is 89.23% of the operating costs[124]. Customer and Market Dynamics - The company has a high customer concentration risk, particularly in the air conditioning, polysilicon manufacturing, optical cable manufacturing, and lithium battery industries[8]. - To reduce customer dependency, the company aims to develop new products, attract new customers, and explore new markets while shortening product development cycles[11]. - The company is actively expanding its customer base, particularly in the new energy vehicle sector, and has added four new supplier qualifications in rail transportation[79]. - The company has expanded its market share in the air conditioning electric heater segment, benefiting from cost advantages and increased demand[73]. - The company has adjusted its market focus to emphasize optical communication materials and new energy materials, discontinuing unprofitable products[75]. Research and Development - The company invested 84.7253 million yuan in R&D in 2020, accounting for 3.53% of total revenue, with a year-on-year increase of 3.48%[63]. - The company holds a total of 134 patents, including 21 invention patents and 110 utility model patents[63]. - The company is focusing on the development of high-performance electric heaters for high-humidity environments, aiming for domestic mass production[131]. - A new phase change heat storage heater is being developed to provide low-cost and efficient heating solutions, with ongoing patent applications and market promotion efforts[131]. - The company has successfully developed a low-cost heating solution for electric vehicles, addressing winter heating challenges without significantly increasing vehicle costs[131]. Talent and Management - The company faces a talent shortage risk due to its expanding operations and increasing demand for professional talent[12]. - The company will strengthen talent recruitment and internal training to meet operational needs and improve management efficiency[12]. - The company implemented a new management structure in 2020, enhancing management efficiency and reducing management costs[86]. - The introduction of the "Amoeba Management" model is intended to boost employee engagement and operational efficiency[176]. Asset Management and Impairment Risks - The acquisition of Dongfang Shanyuan as a wholly-owned subsidiary in February 2021 introduces goodwill, which may face impairment risks if future earnings do not meet expectations[13]. - The company plans to closely monitor the operational performance of acquired companies and enhance management to mitigate asset impairment risks[14]. - Asset impairment losses reached ¥38,426,526.19, representing -58.17% of total profit[145]. Environmental and Social Responsibility - The company optimized hazardous waste management and signed agreements with clients to avoid harmful substances, maintaining compliance with environmental standards[98]. - The company expects to generate 4.5 million kWh of solar power annually starting in 2021, reducing coal consumption by 1,382 tons and CO2 emissions by 3,731 tons[98]. - The company was recognized as a "Harmonious Labor Relations Enterprise" in Jiangsu Province, and its general manager was awarded the title of "Labor Model" in Zhenjiang City[96]. Dividend and Shareholder Returns - The profit distribution plan approved by the board includes a cash dividend of 0.15 RMB per 10 shares (tax included) based on the total share capital at the end of 2020[14]. - In 2020, the cash dividend amount was ¥19,102,405.59, representing 31.61% of the net profit attributable to ordinary shareholders[185]. - The company has committed to maintaining its dividend capability and will not modify the dividend clauses in its articles of association during the tenure of its actual controllers[192].

Financial Performance - The company's revenue for Q1 2021 was ¥618,896,540.99, representing a 28.05% increase compared to ¥483,330,203.08 in the same period last year[8]. - Net profit attributable to shareholders was ¥25,075,558.18, a significant recovery from a loss of ¥1,664,620.74 in the previous year[8]. - Basic and diluted earnings per share were both ¥0.0197, recovering from a loss of ¥0.0013 per share in the previous year[8]. - The company achieved total operating revenue of 618.90 million yuan, a year-on-year increase of 28.05%[24]. - Net profit attributable to shareholders was 25.08 million yuan, marking a turnaround from loss to profit[24]. - The total comprehensive income for the period was ¥25,071,737.27, recovering from a loss of ¥3,923,276.33 in the same quarter last year[78]. - Net profit for the current period was ¥21,917,661.41, representing a 52.5% increase from ¥14,390,713.62 in the previous period[82]. Cash Flow and Assets - The net cash flow from operating activities was negative at ¥-125,427,691.69, a decline of 321.82% compared to ¥56,543,678.02 in the same period last year[8]. - Cash and cash equivalents at the end of the period totaled ¥210,487,311.77, an increase from ¥153,897,966.81 at the end of the previous period[92]. - The total cash and cash equivalents at the end of the period decreased to 37,254,376.23 CNY from 85,579,593.23 CNY, highlighting liquidity challenges[96]. - The net cash flow from operating activities was -81,338,793.45 CNY, a significant decrease compared to 68,821,636.84 CNY in the previous period, indicating a decline in operational performance[93]. Investments and R&D - R&D expenses increased by 65.21% to 23.26 million yuan, reflecting higher investment in research and development[20]. - Research and development expenses rose to ¥23,262,748.21, up from ¥14,080,702.81, marking an increase of 65.3% year-over-year[74]. - The company is focusing on the development of new products, including a compact and efficient single-ended electric heater and a new type of BN electric heating tube[10][11]. Shareholder Information - The top three shareholders, Tan Rongsheng, Tan Wei, and Tan Ke, collectively hold 39% of the company's shares, with Tan Rongsheng holding 14.68%[13]. - The company reported a cash outflow of 635,275.01 CNY for dividend payments, which increased from 488,985.33 CNY, suggesting a commitment to shareholder returns despite cash flow challenges[96]. Contracts and Market Expansion - New orders for industrial equipment reached 412 million yuan, driven by increased investments from leading polysilicon companies[25]. - The company is actively pursuing market expansion through the development of innovative heating technologies and strategic partnerships in the new energy sector[33]. - The company completed the acquisition of 51% of Zhenjiang Dongfang Shanyuan Electric Heating Co., making it a wholly-owned subsidiary[40]. Risks and Challenges - The company is facing risks related to declining gross margins due to rising raw material prices, with a focus on accelerating new product development and optimizing customer management to mitigate this risk[41]. - The company is addressing the risk of customer dependency by expanding into new products and markets, aiming to diversify its customer base[41]. - The company is monitoring the operational performance of acquired companies to manage goodwill impairment risks effectively[42].