Financial Performance - The company's operating revenue for Q1 2021 was ¥401,258,023.43, representing a 9.15% increase compared to ¥367,630,251.73 in the same period last year[8] - Net profit attributable to shareholders for Q1 2021 was ¥10,008,986.99, a significant increase of 151.11% from ¥3,985,960.60 in the previous year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥8,072,047.92, up 199.95% from ¥2,691,167.33 year-on-year[8] - Basic earnings per share for Q1 2021 were ¥0.0174, reflecting a 107.14% increase from ¥0.0084 in the previous year[8] - The total operating revenue for Q1 2021 was CNY 401,258,023.43, an increase from CNY 367,630,251.73 in the previous period[58] - The net profit for Q1 2021 was CNY 10,078,491.77, compared to a net profit of CNY 3,445,231.31 in the previous year, indicating a significant increase[60] - The total profit for the quarter was CNY 15,027,954.31, up from CNY 3,375,984.25 in Q1 2020, reflecting a strong performance[60] - The total comprehensive income for Q1 2021 was CNY 9,903,816.44, compared to CNY 2,827,423.29 in the same period last year, marking a substantial improvement[61] Cash Flow and Liquidity - The net cash flow from operating activities improved to ¥56,578,471.13, a turnaround from a negative cash flow of -¥69,135,661.13 in the same period last year, marking an increase of 181.84%[8] - Cash and cash equivalents increased by 47.80% to CNY 928.36 million due to funds raised from a specific stock issuance[21] - The company reported a total cash and cash equivalents balance of ¥719,057,843.57 at the end of Q1 2021, up from ¥124,933,220.75 at the end of Q1 2020[69] - Total cash inflow from financing activities reached ¥654,259,599.21, compared to ¥204,619,713.07 in the previous year, indicating a strong increase in financing[69] - The net cash flow from financing activities was ¥425,335,389.78, a turnaround from a net outflow of ¥49,639,356.44 in the same period last year[69] - The cash inflow from operating activities totaled ¥86,269,950.01, down from ¥134,202,376.94 in the previous year, indicating a decline in operational cash generation[70] - The company’s cash outflow for operating activities was ¥109,566,636.63, compared to ¥170,666,626.20 in the previous year, reflecting improved cost management[70] Assets and Liabilities - Total assets at the end of the reporting period reached ¥3,922,146,687.02, a 10.80% increase from ¥3,539,878,042.36 at the end of the previous year[8] - The total liabilities decreased to CNY 748,359,133.33 from CNY 746,385,943.87, showing a slight improvement in the liability structure[56] - The equity attributable to shareholders increased to CNY 1,902,302,559.95 from CNY 1,454,689,186.15, reflecting strong growth in shareholder value[56] Investment and R&D - Research and development expenses rose by 81.78% to CNY 14.00 million, indicating increased investment in R&D[22] - The company has committed to invest CNY 16,562 million in the new LNG intelligent tank and small movable liquefaction device industrialization project, with 0% progress reported[40] - The hydrogen fuel cell vehicle liquid hydrogen supply system project has a committed investment of CNY 6,199.36 million, also showing 0% progress[41] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 36,269[12] - The top shareholder, Huang Feng, held 7.52% of the shares, amounting to 43,280,000 shares[12] Risk Management - The company is facing risks from fluctuations in raw material prices, particularly stainless steel, which significantly impacts production costs[28] - The company has implemented measures to mitigate risks from raw material price fluctuations by optimizing product design and improving production efficiency[28] - The ongoing COVID-19 pandemic continues to affect the company's overseas export business, with measures in place to minimize its impact[27] - The company has established a credit management department to address potential credit losses from accounts receivable due to long manufacturing and payment cycles[30][32] - The company is closely monitoring foreign exchange market fluctuations to manage risks associated with currency exchange rates[29] Fundraising Activities - The company reported a total fundraising amount of RMB 471,073,599.21 from the issuance of 103,989,757 shares at a price of RMB 4.53 per share[35] - The net amount raised after deducting issuance costs was RMB 459,409,457.92[35] - Total raised funds amounted to CNY 45,940.95 million, with no changes in usage during the reporting period[40] - The company is actively managing risks related to its fundraising projects, ensuring alignment with market demand and technological advancements[33] Other Financial Metrics - The company reported a significant decrease in asset impairment losses, with a 100% reduction compared to the previous year[22] - The company incurred a credit impairment loss of CNY -5,409,710.70, which was an improvement from CNY -8,261,285.50 in the previous year[64] - The company reported a net loss from investment of CNY 796,974.74, which is a deterioration compared to a loss of CNY 649,957.80 in the previous period[59] - The company reported a decrease in operating costs to CNY 34,932,419.63 from CNY 56,353,279.05, a reduction of 38.2%[63] - The company experienced a significant increase in non-operating income, which rose to CNY 437,410.40 from CNY 2,258,285.13 in the previous year[60]

Financial Performance - The company's operating revenue for 2020 was ¥1,806,080,635.56, representing a 14.76% increase compared to ¥1,573,844,704.62 in 2019[17] - The net profit attributable to shareholders was ¥71,416,882.32, a significant turnaround from a loss of ¥326,699,821.43 in 2019, marking a 121.86% increase[17] - The net profit after deducting non-recurring gains and losses was ¥43,520,957.04, improving from a loss of ¥344,704,143.97 in the previous year, reflecting a 112.63% increase[17] - The basic earnings per share increased to ¥0.15 from a loss of ¥0.69 in 2019, showing a 121.74% improvement[17] - The total assets at the end of 2020 were ¥3,539,878,042.36, a 1.36% increase from ¥3,492,309,252.00 at the end of 2019[17] - The net assets attributable to shareholders rose to ¥1,463,203,967.55, up 3.38% from ¥1,415,405,526.46 in 2019[17] - The net cash flow from operating activities was ¥100,412,618.30, a decrease of 69.75% compared to ¥331,896,932.66 in 2019[17] - The company reported a weighted average return on equity of 4.98%, recovering from -20.19% in the previous year[17] Dividend Distribution - The company plans to distribute a cash dividend of ¥0.15 per 10 shares, based on a total share capital of 575,406,349 shares[5] - The company reported a cash dividend of 0.15 yuan per 10 shares for the year 2020, totaling 8,631,095.24 yuan, which represents 100% of the total profit distribution[130][135] - The company did not distribute dividends in 2019 due to operating losses, with a total loss of 326,699,821.43 yuan[129][135] - The cash dividend for 2020 represents 12.09% of the consolidated net profit attributable to the company's ordinary shareholders[135] Market and Product Development - The company is actively pursuing international LNG market opportunities, including projects in Malaysia, Uzbekistan, Mexico, and Morocco, to support local clean energy development[33] - The company’s LNG unloading equipment, produced by its subsidiary, has a high market share, with new products expected to replace imports and gradually achieve export success[35] - The company has established strategic partnerships with major truck manufacturers, enhancing its competitive advantage in the LNG vehicle market[33] - The company’s heavy equipment division has gained recognition among Fortune 500 companies, indicating strong brand influence and market presence[34] - The company continued to strengthen its LNG heavy-duty truck bottle market and actively developed high-pressure direct injection and liquid hydrogen technology for vehicle-mounted gas supply systems, aiming to enhance market share and maintain industry leadership[50] - The company launched a domestically produced 16-inch LNG ship loading arm with independent intellectual property rights, achieving its first delivery within the year and aiming for import substitution and gradual export[51] - The company has developed a full range of hydrogen valve products for fuel cell vehicles, which are currently undergoing extensive road tests with major domestic vehicle manufacturers[52] - The company is expanding its overseas market presence, actively pursuing LNG liquefaction plant projects in Southeast Asia, Russia, Mexico, and India, despite challenges posed by the COVID-19 pandemic[53] Research and Development - R&D investment amounted to 79,950,068.90 CNY, accounting for 4.43% of operating revenue, with a total of 243 authorized patents held[41] - The company’s R&D investment in 2020 amounted to approximately ¥79.95 million, representing 4.43% of total revenue, a decrease from 5.10% in 2019[84] - The number of R&D personnel increased to 201 in 2020, accounting for 12.38% of the total workforce, up from 12.05% in 2019[84] - Key R&D projects for 2021 include the development of high-pressure LNG vaporization arms and small-batch trials of liquid hydrogen valves[114] Financial Position and Cash Flow - Trading financial assets increased to 151,500 CNY, a 100% increase from 0 CNY at the end of the previous year, due to changes in the fair value of forward foreign exchange contracts[38] - Accounts receivable decreased to 3,687,100 CNY, a 70.83% decrease from 12,639,600 CNY, primarily due to timely payment of commercial bills[38] - Accounts receivable financing increased to 260,417,100 CNY, a 46.87% increase from 177,306,100 CNY, mainly due to a higher volume of bank acceptance bills collected this period[38] - Prepayments increased to 81,509,900 CNY, a 48.54% increase from 54,874,200 CNY, primarily due to increased prepayments for main material purchases[38] - Deferred tax assets decreased to 36,608,400 CNY, a 62.19% decrease from 96,834,600 CNY, mainly due to the parent company’s expectation of insufficient taxable income in the future[38] - Long-term borrowings increased to 137,842,900 CNY, a 351.51% increase from 30,529,200 CNY, due to adjustments in the financing structure based on overall market interest rates[38] - Operating cash inflow decreased by 12.19% to approximately ¥1.27 billion in 2020, while operating cash outflow increased by 5.00% to approximately ¥1.17 billion[86] - The net cash flow from financing activities decreased by 77.66%, resulting in a net outflow of approximately ¥50.09 million[86] Risk Management - The company faces risks from market fluctuations in oil and gas prices, which could impact its operational performance[119] - Ongoing COVID-19 pandemic effects may disrupt export business, prompting the company to maintain effective communication with overseas clients[120] - The company is implementing measures to mitigate risks from raw material price fluctuations and exchange rate volatility[121][122] - The company has implemented strict credit policies to mitigate the risk of accounts receivable losses, focusing on customer credit assessments and monitoring payment statuses[124] - The company is facing risks related to its fundraising projects, including potential market changes and the possibility of new capacity not being fully utilized[125] Corporate Governance and Structure - The company has established a governance structure to protect shareholder rights, including a board of directors and various specialized committees[172] - The company has implemented measures to protect employee rights, including social insurance and commercial accident insurance[173] - The company has a diverse shareholder structure, with no significant concentration of ownership[197] - The company has no controlling shareholder, as no single shareholder holds more than 30% of the total share capital[195] - The actual controller of the company is also absent, with no shareholder controlling more than 10% of the shares[196] Subsidiaries and Investments - The company established a new controlling subsidiary, Jiangsu Furui Energy Service Co., Ltd., which is now included in the consolidated financial statements[72] - The company has established a joint venture, Jiangsu Furui Energy Service Co., Ltd., with an investment of CNY 35 million, holding a 70% stake[178] - The company completed a capital increase of CNY 4 million in its subsidiary, Changlong Equipment, resulting in an 80% ownership stake[177] - The company has transferred its stake in Guizhou Te'an Jie New Energy Technology Co., Ltd. and Wuhan Chengzheng Technology Partnership (Limited Partnership) during the reporting period[106] Compliance and Regulations - The company has not been classified as a key pollutant discharge unit and has adhered to environmental protection regulations without any violations during the reporting period[175] - The company has received multiple manufacturing licenses for pressure vessels and low-temperature valves, ensuring compliance with international standards[43] - The company has achieved certifications for quality management systems, including IATF16949 and ISO9001:2015, ensuring high product quality[44]

张家港富瑞特种装备股份有限公司 2020 年第三季度报告 股票简称：富瑞特装 股票代码：300228 张家港富瑞特种装备股份有限公司 2020 年第三季度报告 二〇二〇年十月 1 张家港富瑞特种装备股份有限公司 2020 年第三季度报告 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人黄锋、主管会计工作负责人焦康祥及会计机构负责人(会计主管 人员)焦康祥声明：保证季度报告中财务报表的真实、准确、完整。 2 张家港富瑞特种装备股份有限公司 2020 年第三季度报告 第二节 公司基本情况 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 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 3,612,621,655.89 | 3,492,309,252.00 | | 3.45% | | 归属于上市 ...

Financial Performance - The company's operating revenue for the first half of 2020 was ¥865,438,427.27, representing a 3.95% increase compared to ¥832,530,411.05 in the same period last year[19]. - The net profit attributable to shareholders of the listed company surged by 468.66% to ¥31,223,608.93, up from ¥5,490,772.48 in the previous year[19]. - The net profit after deducting non-recurring gains and losses increased by 99.50% to ¥21,716,778.16, compared to ¥10,885,723.33 in the same period last year[19]. - The basic earnings per share rose by 470.69% to ¥0.0662, compared to ¥0.0116 in the previous year[19]. - Operating profit reached ¥31,687,900.60, a significant year-on-year growth of 525.08%[45]. - Net profit attributable to the parent company was ¥31,223,608.93, marking a year-on-year increase of 468.66%[45]. - The company reported a net profit of -16.68 million yuan for the first half of 2020, compared to a profit of 17.586 million yuan in the same period of 2019, indicating a significant decline[186]. - The company reported a comprehensive loss of approximately RMB 31.84 million for the first half of 2020, reflecting a significant decrease compared to previous periods[194]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,678,667,788.91, reflecting a 5.34% increase from ¥3,492,309,252.00 at the end of the previous year[19]. - The company's total liabilities reached CNY 2,238,138,265.52, compared to CNY 2,085,291,138.84 at the end of 2019, marking an increase of around 7.3%[164]. - The company's total liabilities at the end of the reporting period were approximately RMB 1.24 billion, indicating a leverage ratio that needs to be monitored[195]. - The company's equity attributable to shareholders was 1.834 billion yuan, reflecting a decrease of 1.63 million yuan from the previous year[188]. Cash Flow - The net cash flow from operating activities decreased significantly by 95.03% to ¥3,473,561.27, down from ¥69,852,097.52 in the same period last year[19]. - The company reported a net cash flow from operating activities of approximately ¥3.47 million in the first half of 2020, a decline from ¥69.85 million in the first half of 2019[179]. - The net cash flow from operating activities was -21,778,764.40 RMB, a decrease from 11,363,481.84 RMB in the previous period[183]. - The company reported a significant decrease in cash and cash equivalents, with a net decrease of 86,791,024.29 RMB compared to an increase of 10,899,040.28 RMB in the previous period[183]. Research and Development - Research and development investment amounted to ¥21,383,804.64, accounting for 2.47% of operating revenue[45]. - Research and development expenses decreased by 9.09% to RMB 21,383,804.64 from RMB 23,523,015.96 in the previous year[52]. - The company has allocated resources for research and development to enhance its technological capabilities[186]. Market Position and Strategy - The company specializes in the full industrial chain of liquefied natural gas (LNG) storage, transportation, and terminal application equipment manufacturing, offering comprehensive technical solutions[27]. - The company aims to strengthen its position as a leading player in the international LNG unloading equipment market while maintaining its domestic market advantage[31]. - The company is actively exploring overseas markets while managing costs and improving operational efficiency[45]. - The company plans to focus on new product development and market expansion strategies to improve future performance[186]. Risks and Challenges - The company operates across the entire LNG industry chain, including liquefaction, storage, transportation, and terminal applications, which are affected by fluctuations in international crude oil and natural gas prices[82]. - The company faces significant risks from raw material price volatility, particularly for stainless steel, which constitutes a large portion of production costs[83]. - The ongoing COVID-19 pandemic has led to reduced economic activity globally, affecting the company's export orders[87]. - The company is exposed to foreign exchange risks due to its import and export activities, primarily involving USD and EUR[85]. Corporate Governance and Compliance - The half-year financial report for 2020 was not audited[96]. - The company has not experienced any bankruptcy reorganization during the reporting period[97]. - There were no significant litigation or arbitration matters during the reporting period[98]. - The company is committed to avoiding or minimizing related party transactions[94]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 33,474[141]. - The largest unrestricted shareholder is Guangdong Yuecai Trust Co., Ltd., holding 12,190,470 shares, representing 2.58%[142]. - The total number of shares increased from 472,741,640 to 472,741,642, with limited sale condition shares rising from 52,636,450 to 52,658,200[135].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥865,438,427.27, representing a 3.95% increase compared to ¥832,530,411.05 in the same period last year[19]. - The net profit attributable to shareholders was ¥31,223,608.93, a significant increase of 468.66% from ¥5,490,772.48 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was ¥27,518,810.81, up 152.80% from ¥10,885,723.33 year-on-year[19]. - The basic earnings per share rose to ¥0.0662, reflecting a 470.69% increase compared to ¥0.0116 in the same period last year[19]. - Operating profit increased to ¥31,687,900.60, a significant year-on-year growth of 525.08%[46]. - The total comprehensive income for the first half of 2020 was CNY 32,822,571.63, compared to CNY 1,554,265.78 in the first half of 2019, reflecting a substantial increase of 2011.5%[176]. - The total profit for the first half of 2020 was CNY 1,501,854.12, a recovery from a total loss of CNY 35,272,605.71 in the previous year, showcasing improved profitability[179]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,678,667,788.91, an increase of 5.34% from ¥3,492,309,252.00 at the end of the previous year[19]. - The total liabilities reached CNY 2,238,138,265.52, compared to CNY 2,085,291,138.84, reflecting an increase of about 7.34%[167]. - The company's equity attributable to shareholders increased to CNY 1,432,023,047.81 from CNY 1,415,405,526.46, a rise of approximately 1.17%[168]. - The total liabilities at the end of the reporting period were 6,671 million yuan, indicating a decrease from the previous year[191]. - The company's total owner's equity was reported at 21,605 million yuan, reflecting a decrease of 5,269 million yuan compared to the previous year[191]. Cash Flow - The net cash flow from operating activities was ¥3,473,561.27, a decrease of 95.03% compared to ¥69,852,097.52 in the same period last year[19]. - The net cash flow from operating activities was -21,778,764.40 CNY, compared to 11,363,481.84 CNY in the previous period[186]. - The net cash flow from investing activities was -6,464,045.73 CNY, a decrease from 19,725,306.38 CNY in the previous period[186]. - The net cash flow from financing activities was -55,234,596.03 CNY, compared to -25,418,546.22 CNY in the previous period[186]. Research and Development - Research and development investment amounted to ¥21,383,804.64, accounting for 2.47% of operating revenue[46]. - Research and development expenses decreased by 9.09% to RMB 21.38 million from RMB 23.52 million in the previous year[54]. - The company holds 43 invention patents, 174 utility model patents, and 4 design patents as of the end of the reporting period[46]. Market and Industry Position - The company specializes in the full industrial chain of liquefied natural gas (LNG) storage, transportation, and terminal application equipment manufacturing, offering comprehensive technical solutions[27]. - The company aims to strengthen the research and production of large-caliber LNG ship loading arms, positioning them as a key product for international market leadership[31]. - The company established strategic partnerships with major truck manufacturers, enhancing its competitive edge in the LNG cylinder market[30]. - The company is focused on integrating internal resources to enhance operational efficiency and product delivery in the LNG sector[43]. Corporate Governance and Compliance - The semi-annual financial report for 2020 has not been audited[98]. - The company has committed to avoiding competition with major shareholders to protect the interests of the company and other shareholders[94]. - The company has committed to avoiding or minimizing related party transactions[96]. - The company has maintained compliance with legal and regulatory requirements regarding related party transactions[112]. Future Plans and Investments - The company plans to raise up to RMB 501.0736 million through a private placement of A-shares to support new product manufacturing and technology research and development[51]. - The company plans to continue its market expansion and product development strategies in the upcoming quarters[192]. Legal Matters - The company reported a revenue of 1,410.21 million CNY from a lawsuit related to a debt dispute, with the first-instance judgment supporting the plaintiff's claims[100]. - The company is involved in a lawsuit against Tianjin Zhengwei Gas Co., Ltd. for a debt of 118.2 million CNY, with the first-instance judgment supporting the company's claims[100]. - There are no significant litigation or arbitration matters reported during the period[100].

Financial Performance - Total revenue for Q1 2020 was CNY 367,630,251.73, an increase of 3.10% compared to CNY 356,581,820.70 in the same period last year[8] - Net profit attributable to shareholders was CNY 3,985,960.60, representing a growth of 22.08% from CNY 3,265,045.74 year-on-year[8] - Basic and diluted earnings per share increased by 21.74% to CNY 0.0084 from CNY 0.0069 year-on-year[8] - The company reported a net profit of CNY 45,042,487.60, up from CNY 41,056,527.00, reflecting an increase of about 9.7% in retained earnings[46] - Net profit for Q1 2020 reached CNY 3,445,231.31, compared to CNY 1,332,229.37 in the same period last year, representing a significant increase[54] - The total comprehensive income for Q1 2020 was CNY 2,827,423.29, down from CNY 4,017,635.09 in the previous period[55] - The company reported a total comprehensive income of -13,387,454.88 CNY for the quarter, which is a decline from -10,437,768.06 CNY year-over-year[59] Cash Flow and Assets - The net cash flow from operating activities was CNY -69,135,661.13, a decline of 296.82% compared to CNY 35,126,004.39 in the same period last year[8] - Cash and cash equivalents increased to CNY 590,746,866.47 from CNY 551,045,649.34, representing a growth of approximately 7.2%[43] - Cash and cash equivalents at the end of the period totaled 124,933,220.75 CNY, down from 250,590,000.82 CNY at the beginning of the period, representing a decrease of approximately 50%[63] - The cash outflow for purchasing goods and services was 431,283,585.19 CNY, compared to 250,439,428.06 CNY in the previous year, indicating an increase of about 72.3%[62] - The cash flow from investing activities resulted in a net outflow of -4,284,719.22 CNY, compared to -22,621,088.39 CNY in the previous year, showing an improvement in cash management[62] - The cash flow from financing activities showed a net outflow of -49,639,356.44 CNY, an improvement from -105,671,728.12 CNY in the same quarter last year[63] Liabilities and Equity - Total liabilities decreased to CNY 2,071,656,298.88 from CNY 2,085,291,138.84, a reduction of about 0.7%[45] - The company's equity attributable to shareholders increased to CNY 1,419,993,825.24 from CNY 1,415,405,526.46, a growth of approximately 0.3%[46] - Total equity for the company was CNY 1,435,452,016.84, slightly down from CNY 1,448,880,973.50[50] - The total liabilities as of January 1, 2020, were 2,085,291,138.84 CNY, with current liabilities accounting for 2,024,098,002.92 CNY[70] Operational Highlights - The company achieved operating revenue of ¥367,630,251.73, a year-on-year increase of 3.10%[23] - The company is focusing on LNG and clean energy applications, aiming to become a leading provider of technical solutions and equipment manufacturing[24] - The company has signed a contract worth ¥149,861,300 for the design, procurement, and manufacturing of equipment for the AGPP project, with progress on equipment delivery[25] - The company has committed to avoiding competition with major shareholders and their affiliates, ensuring no production or development of competing products[34] Market and Economic Conditions - The company faces market risks due to fluctuations in international oil prices, which may impact its operating performance[27] - The COVID-19 pandemic has led to a downward adjustment of economic growth expectations, affecting the natural gas industry and the company's main business[31] - The company is closely monitoring foreign exchange market fluctuations due to significant RMB volatility, which may impact financial results[30] Accounts Management - Accounts receivable increased by 76.41% to ¥22,298,153.64, primarily due to a higher volume of commercial bills in the current period[19] - The company has implemented measures to manage accounts receivable and mitigate potential bad debt losses[28] - The company plans to enhance customer, contract, and credit management to shorten the collection cycle and ensure financial stability[29] - The company experienced a credit impairment loss of CNY 23,164,945.68, compared to CNY 2,371,621.85 in the previous period[53] - The company incurred a credit impairment loss of -8,261,285.50 CNY during the quarter, reflecting ongoing challenges in asset management[57]

Financial Performance - The company's operating revenue for 2019 was ¥1,573,844,704.62, an increase of 8.89% compared to ¥1,445,418,704.54 in 2018[18] - The net profit attributable to shareholders was -¥326,699,821.43, a significant decrease of 2,647.91% from ¥12,822,277.33 in the previous year[18] - The net cash flow from operating activities increased by 27.85% to ¥331,896,932.66, up from ¥259,607,929.63 in 2018[18] - The total assets at the end of 2019 were ¥3,492,309,252.00, a decrease of 10.85% from ¥3,917,195,375.43 at the end of 2018[18] - The net assets attributable to shareholders decreased by 21.93% to ¥1,415,405,526.46 from ¥1,813,099,632.61 in 2018[18] - The basic earnings per share for 2019 was -¥0.69, compared to ¥0.03 in 2018, reflecting a decline of 2,400.00%[18] - The company reported a net profit of -¥332,538,656.55 in Q4 2019, following a positive net profit in the first three quarters[20] - The weighted average return on net assets was -20.19% for 2019, down from 0.71% in 2018[18] - The company reported a non-operating loss of CNY 2,583,761.07 in 2019 from the disposal of non-current assets, a significant decrease compared to a gain of CNY 44,196,712.51 in 2018[23] - Government subsidies recognized in the current period amounted to CNY 8,068,941.00, down from CNY 12,256,745.87 in 2018, indicating a decrease of 34.5%[23] Strategic Initiatives - The company has outlined potential risks and response strategies in its future development outlook section[5] - The company established strategic partnerships with major truck and bus manufacturers, enhancing its market position in LNG vehicle supply systems[31] - The company aims to achieve significant breakthroughs in key technologies through a combination of technology introduction and independent innovation[35] - The company has implemented a strategy focused on innovation and the application of new technologies to reduce manufacturing costs[35] - The company is developing new products such as high-pressure direct injection vehicle gas supply systems and LNG ship loading arms, which are expected to become new profit growth points[38] - The company plans to enhance the modularization and intelligence of related products to adapt to market demand growth and strengthen its competitive advantage in the LNG equipment industry[49] Research and Development - The company's R&D investment amounted to ¥80,344,341.54, accounting for 5.10% of operating revenue[35] - The number of patents held by the company includes 43 invention patents, 192 utility model patents, and 4 design patents[35] - Research and development expenses increased by 12.14% to CNY 80,344,341.54, focusing on new technologies such as high-pressure direct injection systems[66] - The number of R&D personnel increased to 179 in 2019, accounting for 12.05% of the total workforce, up from 8.45% in 2018[77] Market Conditions - The market for LNG vehicle bottles remains highly competitive, leading to a decline in product gross margins[41] - The company has faced significant challenges due to rising gas source prices and declining LNG terminal sales prices, impacting the performance of its subsidiary, Shaanxi Hongcheng New Energy Co., Ltd.[41] - The company's main business of LNG equipment manufacturing is affected by market risks due to fluctuations in international oil prices and stricter environmental policies, impacting operational performance[114] - Raw material price volatility, particularly for stainless steel, significantly affects production costs, and the company is implementing measures to manage these risks[115] - The company is exposed to foreign exchange risks due to its international operations, and it is establishing effective mechanisms to mitigate these risks[117] Corporate Governance - The company has established a governance structure with a board of directors and four specialized committees to protect shareholder rights[166] - The company has committed to avoiding competition with its major shareholders and their affiliates, ensuring no production or development of competing products[128] - The company has maintained compliance with commitments made to minority shareholders, with no overdue commitments reported[129] - The company has not engaged in any investor communication activities during the reporting period[119] - The company has implemented changes to its accounting policies in accordance with new financial instrument standards effective from January 1, 2019[131] Financial Management - The company is facing high financial pressure due to a high debt-to-asset ratio and tightening bank loans, necessitating a focus on optimizing financing structure and reducing financial costs[112] - The company reported a decrease in cash inflow from financing activities by 15.31% to ¥1.02 billion in 2019[80] - The company has pledged assets including bank acceptance bills amounting to ¥30,000,000.00 and guarantee deposits of ¥18,073,457.04[88] - The company has made significant equity investments, including a stake in a technology firm with a 50% ownership interest[93] - The company has not utilized any raised funds during the reporting period[94] Employee Relations - The company's employee compensation payable at the end of the period was ¥33,113,700, an increase of 40.56% compared to the previous year[33] - The company plans to enhance corporate culture to foster a proactive and efficient work environment, aiming to improve employee engagement and productivity[113] - The company has implemented measures to protect employee rights, including social insurance and commercial accident insurance[167] Subsidiary Performance - The company reported a net profit contribution from major subsidiaries exceeding 10%, with specific subsidiaries showing significant losses, such as Zhangjiagang Furui Deep Freezing Technology Co., Ltd., which had a net loss of 130.65 million RMB[99] - The total assets of FuRui Deep Cold Technology Co., Ltd. as of December 31, 2019, were CNY 1,053,284,751.78, with a net asset of CNY 272,894,730.30 and an annual revenue of CNY 664,354,235.25, resulting in a net loss of CNY 130,652,161.66[102] - FuRui Heavy Equipment Co., Ltd. reported total assets of CNY 1,105,499,471.26, net assets of CNY 597,860,573.78, annual revenue of CNY 518,952,689.59, and a net profit of CNY 19,930,394.87 as of December 31, 2019[103] Shareholder Information - The company has a total of 38,291 shareholders at the end of the reporting period, an increase from 34,749 at the previous month-end[181] - The largest shareholder, Guangdong Yuecai Trust Co., Ltd., holds 12,190,470 shares, accounting for approximately 2.59% of total shares[184] - The company has no controlling shareholder, with no single shareholder holding more than 30% of the total shares[185] - The company has not issued any preferred shares during the reporting period[190] - The company reported no changes in its actual controller during the reporting period[187]

Financial Performance - Operating revenue for the reporting period was CNY 342,987,426.96, down 3.76% year-on-year, while revenue for the year-to-date reached CNY 1,175,517,838.01, an increase of 30.54%[8] - Net profit attributable to shareholders for the reporting period was CNY 348,062.64, a significant increase of 102.79% year-on-year, with year-to-date net profit reaching CNY 5,838,835.12, up 114.61%[8] - Basic earnings per share for the reporting period were CNY 0.0007, up 102.69% year-on-year, while diluted earnings per share were CNY 0.0008, an increase of 103.07%[8] - The company's operating revenue for Q3 2019 reached CNY 1,175,517,838.01, a year-on-year increase of 30.54% compared to CNY 900,512,871.61 in the same period last year[21] - The net profit attributable to shareholders for the same period was CNY 5,838,835.12, representing a significant increase of 114.61% from a loss of CNY 39,956,693.83 in the previous year[23] - The total comprehensive income for the current period is ¥130,714.09, a recovery from -¥15,847,699.06 in the previous period[44] - The total profit for the current period is ¥24,300,046.27, an improvement from a loss of -¥8,907,272.42 in the previous period[46] - The net profit for the current period was ¥1,129,257.06, a significant recovery from a net loss of ¥44,332,196.02 in the same period last year[50] - The company reported an operating profit of ¥3,886,743.80, compared to an operating loss of ¥34,915,968.68 in the previous year[50] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 170,386,257.98, an increase of 45.81% compared to the same period last year[8] - Operating cash inflow for the period was CNY 1,373,978,647.49, an increase from CNY 1,309,027,769.19 in the previous period, representing a growth of approximately 4.9%[58] - Net cash flow from operating activities was CNY 170,386,257.98, up from CNY 116,854,679.25, indicating a year-over-year increase of about 45.7%[58] - Cash outflow from investing activities totaled CNY 71,325,992.70, down from CNY 109,607,653.16, reflecting a decrease of approximately 34.9%[59] - Net cash flow from investing activities was -CNY 67,888,105.00, an improvement from -CNY 106,440,452.84, showing a reduction in losses of about 36.2%[59] - Cash inflow from financing activities was CNY 495,395,717.58, compared to CNY 849,974,065.16 in the previous period, a decline of approximately 41.7%[59] - Net cash flow from financing activities was -CNY 133,311,781.08, worsening from -CNY 87,814,085.53, indicating a decline in cash position of about 51.7%[59] - The ending cash and cash equivalents balance was CNY 161,497,865.39, slightly down from CNY 162,866,791.49, a decrease of about 0.8%[59] - The company reported a net increase in cash and cash equivalents of -CNY 24,559,983.61, an improvement from -CNY 70,235,963.51, indicating a reduction in cash outflow of approximately 65.0%[59] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,860,918,593.90, a decrease of 1.44% compared to the end of the previous year[8] - Total liabilities increased by 34.52% to CNY 313,294,179.72, primarily due to higher procurement expenditures[20] - Total assets amounted to CNY 3,917,195,375.43, with current assets at CNY 2,339,680,566.08, and non-current assets at CNY 1,577,514,809.35[66] - Total liabilities reached CNY 2,082,489,822.95, with current liabilities at CNY 1,982,588,034.87 and non-current liabilities at CNY 99,901,788.08[68] - Owner's equity totaled CNY 1,834,705,552.48, with equity attributable to shareholders of the parent company at CNY 1,813,099,632.61[68] - The total liabilities to equity ratio is approximately 1.14, indicating a balanced capital structure[68] Shareholder Information - The company reported a total of 39,715 common shareholders at the end of the reporting period[12] - The largest shareholder, Huang Feng, held 9.16% of the shares, amounting to 43,280,000 shares[12] Research and Development - The company reported a significant increase in R&D expenses to ¥16,962,562.38, up from ¥14,987,783.12, representing a growth of 13.2%[42] - Research and development expenses decreased to ¥40,485,578.34 from ¥48,706,209.71, a reduction of 16.0%[48] Other Financial Metrics - The company recorded non-operating income of CNY 5,570,388.38 from government subsidies during the year-to-date[9] - The company achieved an investment income of ¥2,655,078.99, recovering from a loss of ¥2,822,271.00 in the previous period[48] - The company reported a decrease in other payables by 40.44% to CNY 20,230,501.52, reflecting a reduction in obligations related to restricted stock repurchase[20] - The company experienced a credit impairment loss of ¥2,880,693.87, a significant recovery from -¥9,785,286.35 in the previous period[43] - The company reported a credit impairment loss of ¥25,181,577.10, compared to a loss of ¥20,513,327.08 in the previous period[50]

Financial Performance - Total revenue for the first half of 2019 reached ¥832,530,411.05, representing a 53.01% increase compared to ¥544,111,987.95 in the same period last year[20] - Net profit attributable to shareholders was ¥5,490,772.48, a significant turnaround from a loss of ¥27,461,880.62 in the previous year, marking a 119.99% improvement[20] - The net profit after deducting non-recurring gains and losses was ¥10,885,723.33, compared to a loss of ¥32,591,594.75 in the prior year, reflecting a 134.00% increase[20] - Operating cash flow for the period was ¥69,852,097.52, up 77.85% from ¥39,276,370.41 in the same period last year[20] - Basic earnings per share improved to ¥0.0116 from a loss of ¥0.0580, an increase of 118.79%[20] - Operating profit for the same period was CNY 5,069,450.89, reflecting a year-on-year growth of 125.53%[44] - The company reported a significant increase in financial expenses, totaling CNY 34,647,838.53, down 7.78% from the previous year[51] - The company reported a total revenue of 4,800 million RMB for the first half of 2019[68] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,845,367,656.75, a decrease of 1.83% from ¥3,917,195,375.43 at the end of the previous year[20] - The company's total assets at the end of the reporting period were CNY 4,000,000,000, with cash and cash equivalents amounting to CNY 411,771,003.48, representing 10.71% of total assets[59] - The total liabilities decreased to CNY 2,002,508,242.45 from CNY 2,082,489,822.95, reflecting a decline of about 3.85%[160] - The company's total liabilities decreased to CNY 1,010,080,964.38 in the first half of 2019 from CNY 1,136,971,350.84 in the same period of 2018, representing a reduction of approximately 11.1%[165] - The total equity of the company as of the first half of 2019 was CNY 1,690,135,298.35, down from CNY 1,724,076,869.33 in the first half of 2018[165] Cash Flow - The company reported a net cash flow from operating activities of ¥69,852,097.52, indicating strong operational performance[20] - The net cash flow from financing activities was negative CNY 125,896,440.49, a drastic increase of 1,033.89% due to higher repayments of finance leases[51] - The cash flow from financing activities for the first half of 2019 showed a net outflow of approximately ¥125.90 million, compared to a net outflow of ¥11.10 million in the first half of 2018, indicating a significant increase in cash outflow[179] Research and Development - Research and development expenses amounted to ¥23,523,015.96, accounting for 2.83% of total revenue, highlighting the company's commitment to innovation[38] - Research and development expenses for the first half of 2019 were CNY 23,523,015.96, a decrease of 30.2% compared to CNY 33,718,426.59 in the same period of 2018[168] Market and Business Expansion - The company focused on optimizing product structure and expanding overseas markets, particularly in LNG equipment and heavy equipment manufacturing[45] - The company is actively pursuing opportunities in Southeast Asia, Russia, Mexico, and South America for liquefaction plant projects, aiming to boost sales of related LNG equipment[33] - The LNG terminal application market showed signs of recovery, with strong demand for LNG cylinders and liquefaction plant equipment[31] - The company successfully expanded its heavy equipment manufacturing business overseas, enhancing its brand and market influence[32] Risk Management - The company faces market risks due to fluctuations in international oil prices and domestic economic changes, which significantly impact operational performance[86] - The company is exposed to raw material price volatility, particularly stainless steel, which constitutes a large portion of production costs, potentially affecting profitability if prices rise[87] - The company has established a risk management strategy to address foreign exchange fluctuations, particularly as it expands its overseas business[88] Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares for this period[7] - The total number of ordinary shareholders at the end of the reporting period was 43,370[137] - The largest shareholder, Huang Feng, holds 9.16% of the shares, totaling 43,280,000[137] - The company’s independent directors and supervisory board have approved the adjustments to the stock incentive plan[102] Subsidiary Performance - The subsidiary Zhangjiagang Furui Deep Cooling Technology Co., Ltd. reported a net profit of 18,022,395 RMB[76] - The subsidiary Zhangjiagang Furui Heavy Equipment Co., Ltd. reported a net profit of 12,802,245.50 RMB[76] - Jiangsu Changlong Petrochemical Equipment Co., Ltd. reported a net loss of 140,520.85 RMB[76] Other Financial Matters - The company has not engaged in any entrusted financial management or derivative investments during the reporting period[70][71] - The company has not sold any significant assets during the reporting period[73] - The company has no significant litigation or arbitration matters during the reporting period[100] - The company has not undergone any bankruptcy restructuring during the reporting period[99]

Financial Performance - Total revenue for Q1 2019 reached ¥356,581,820.70, an increase of 54.81% compared to ¥230,334,218.67 in the same period last year[8] - Net profit attributable to shareholders was ¥3,265,045.74, up 39.58% from ¥2,339,131.44 year-on-year[8] - Net profit excluding non-recurring gains and losses surged to ¥7,683,650.33, a significant increase of 732.54% from a loss of ¥1,214,737.12 in the previous year[8] - Basic earnings per share rose to ¥0.0069, reflecting a 38.00% increase from ¥0.0050 in the same period last year[8] - The weighted average return on equity improved to 0.18%, up from -0.07% year-on-year[8] - The company reported a net profit of CNY 6,856,704.40 for the first quarter, compared to a loss of CNY 493,805.73 in the previous year[53] - The total profit for the period was CNY 2,468,766.38, up from CNY 2,033,823.73 in the previous year, reflecting a growth of about 21.4%[56] - The total comprehensive income for Q1 2019 was CNY 4,017,635.09, compared to CNY 9,299.54 in the previous year, showing a substantial increase[56] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,924,241,796.58, a slight increase of 0.18% from ¥3,917,195,375.43 at the end of the previous year[8] - Net assets attributable to shareholders decreased slightly by 0.07% to ¥1,811,743,485.10 from ¥1,813,099,632.61[8] - The company's total current assets amounted to CNY 2,366,488,029.34, a slight increase from CNY 2,339,680,566.08 at the end of 2018[43] - The company's fixed assets decreased to CNY 987,601,508.04 from CNY 1,031,411,654.17, a decline of about 4.2%[44] - The total liabilities decreased to CNY 2,366,488,029.34 from CNY 2,339,680,566.08, showing a reduction in financial obligations[44] Cash Flow - The net cash flow from operating activities was ¥35,126,004.39, down 4.67% from ¥36,846,603.59 in the previous year[8] - Total cash inflow from operating activities was ¥398,367,188.54, while cash outflow was ¥363,241,184.15, resulting in a net cash inflow of ¥35,126,004.39[63] - The company reported a net cash outflow from investing activities of ¥22,621,088.39, compared to a net outflow of ¥29,018,962.92 in the previous year, indicating an improvement[64] - The net cash flow from financing activities was -¥105,671,728.12, contrasting with a positive net cash flow of ¥91,681,410.71 in Q1 2018[64] Operational Highlights - The company achieved operating revenue of ¥356,581,820.70, a year-on-year increase of 54.81% driven by higher domestic heavy truck sales and LNG product demand[20] - The company reported a significant increase in construction in progress, rising by 280.52% to ¥20,429,721.16 due to new factory construction[19] - Investment income surged by 678.51% to ¥2,856,726.37, attributed to improved performance of associated enterprises[20] - The company plans to enhance R&D investment and product performance while expanding marketing efforts to secure new sales channels[23] Shareholder and Stock Information - The total number of ordinary shareholders at the end of the reporting period was 40,667[11] - The company approved the adjustment of the exercise price for stock options and repurchase prices for restricted stocks, with the exercise price set at 13.1350268 CNY per share for the initial grant[31] - The company has initiated the repurchase and cancellation of stock options and restricted stocks due to unmet performance targets, reducing the total number of stock options from 241.09 million to 96.68 million[34] - The total number of restricted stocks will decrease from 169.19 million to 96.68 million as part of the repurchase plan[34] Risk Management - The company aims to mitigate risks from raw material price fluctuations by optimizing procurement and production processes[27] - The company will strengthen internal management and risk control to adapt to potential rapid expansion challenges[29] - As of the report date, the company has implemented a comprehensive accounts receivable management system to mitigate collection risks, including shortening the collection cycle and enhancing contract management[30]