假记载、误导性陈述或重大遗漏。 证券代码：300360 证券简称：炬华科技 公告编码：2019-063 杭州炬华科技股份有限公司 关于参加浙江辖区上市公司投资者网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 为进一步加强与投资者的沟通交流，使广大投资者能更深入全面地了解杭州 炬华科技股份有限公司（以下简称"公司"）的经营情况，公司将参加由浙江证 监局指导、浙江上市公司协会与深圳市全景网络有限公司共同举办的"沟通促发 展 理性共成长"辖区上市公司投资者网上集体接待日主题活动，现将有关事项 公告如下： 本次投资者网上集体接待日活动将通过深圳市全景网络有限公司提供的网 上平台举行，投资者可登录"全景·路演天下"网站 (http://rs.p5w.net）参 与本次投资者集体接待日活动。网上互动交流时间为 2019 年 11 月 5 日（星 期二）下午 15:30-17:00。 届时公司董事长丁敏华先生、公司副总经理兼董事会秘书戴晓华先生、财务 总监洪军女士及相关工作人员将采用网络远程方式与投资者就公司治理、发展战 略、经营状况、可持续发展等投资者关注的问题进行沟通。 欢迎 ...

Financial Performance - Operating revenue for the period was ¥228,794,987.51, representing an increase of 11.98% year-on-year[9]. - Net profit attributable to shareholders was ¥62,828,099.34, up 37.59% compared to the same period last year[9]. - The net profit after deducting non-recurring gains and losses reached ¥60,530,045.72, a 50.32% increase year-on-year[9]. - The basic earnings per share for the period was ¥0.15, reflecting a growth of 36.36% compared to the previous year[9]. - The weighted average return on net assets was 2.91%, an increase of 0.76% compared to the previous year[9]. - Total operating revenue for the current period reached ¥228,794,987.51, an increase from ¥204,323,522.26 in the previous period, representing a growth of approximately 11.5%[80]. - Net profit for the current period was ¥62,828,647.32, compared to ¥45,701,932.27 in the previous period, indicating a year-over-year increase of about 37.5%[83]. - Total comprehensive income for the current period amounted to ¥62,669,534.73, compared to ¥45,696,656.84 in the previous period, reflecting a growth of 37.1%[90]. - The net profit for the current period is CNY 150,902,601.84, an increase of 17.3% compared to CNY 128,537,192.46 in the previous period[100]. - The total profit for the current period is CNY 177,579,505.91, up from CNY 150,093,032.41, reflecting a growth of 18.4%[100]. Cash Flow and Assets - The net cash flow from operating activities was ¥60,308,416.39, showing a significant increase of 501.63% year-on-year[9]. - Cash flow from operating activities increased by 501.63% to CNY 60.31 million, attributed to reduced cash payments for goods and services[26]. - The net cash flow from investing activities decreased by 140.58% to CNY -88.41 million, mainly due to increased purchases of time deposits[28]. - The company reported a total operating income of ¥578,782,340.08 for the year-to-date, down 9.3% from ¥638,174,199.22 in the previous year[97]. - The cash flow from operating activities is CNY 555,560,289.63, slightly up from CNY 552,566,843.34 in the previous period[112]. - The company experienced a decrease in operating costs to CNY 335,557,128.23 from CNY 384,969,519.44, a reduction of 12.9%[105]. - The ending balance of cash and cash equivalents was CNY 324,129,266.02, down from CNY 351,968,416.93[118]. Shareholder and Governance Commitments - The company reported a commitment from major shareholders, including Ding Minhua, to not sell shares for two years after the lock-up period ends, ensuring stability in shareholding[34]. - Ding Minhua and other shareholders committed to not reducing their holdings below the issuance price during the lock-up period, with specific conditions for any future sales[34]. - The company has ensured that any related party transactions will adhere to fair pricing principles, maintaining the interests of the company and its shareholders[40]. - The company has committed to strict compliance with relevant laws and regulations regarding share sales and related party transactions, reinforcing governance standards[39]. - The company’s major shareholders have pledged to limit their share transfers to a maximum of 25% of their holdings annually, ensuring controlled liquidity[39]. - The company has established a framework to avoid conflicts of interest and protect shareholder rights in related party transactions[40]. - The company has not reported any violations of commitments made by its shareholders regarding share sales and related party transactions[34]. - The company has assured that all commitments made during its initial public offering will be strictly followed, with no violations reported[46]. Expenses and Investments - Research and development expenses increased to ¥11,738,713.89 from ¥7,749,193.90, showing a rise of about 51.3%[80]. - The company reported a significant increase in other receivables, which rose to RMB 39,534,822.85 from RMB 18,672,704.33, an increase of approximately 111.2%[60]. - Financial expenses decreased by 162.81% compared to the same period last year, due to higher interest income[26]. - The financial expenses for the current period were reported at CNY -43,596,169.35, compared to CNY -16,387,338.50 in the previous period, indicating a significant increase in financial costs[108]. - The company recorded an investment income of CNY 19,382,540.72, down from CNY 21,159,408.89 in the previous period, reflecting a decrease of 8.4%[108]. Asset and Liability Overview - Total assets at the end of the reporting period amounted to ¥2,515,131,153.45, a decrease of 4.13% compared to the end of the previous year[9]. - Total liabilities decreased to ¥364,937,782.10 from ¥464,526,277.03, a reduction of approximately 21.5%[66]. - The company's total equity as of September 30, 2019, was RMB 2,150,193,371.35, slightly down from RMB 2,159,024,656.10 at the end of 2018[69]. - Total liabilities reached ¥480,508,663.82, with current liabilities at ¥467,774,213.40 and non-current liabilities at ¥12,734,450.42[147]. - The company has long-term equity investments amounting to ¥242,296,751.10 and investment properties valued at ¥6,677,094.93[140].

Financial Performance - Total revenue for the reporting period was ¥349,987,352.57, a decrease of 19.33% compared to the same period last year[28]. - Net profit attributable to shareholders was ¥88,074,948.86, an increase of 6.46% year-on-year[28]. - Net profit after deducting non-recurring gains and losses was ¥79,381,046.44, up 11.28% from the previous year[28]. - Basic earnings per share were ¥0.22, reflecting a 10.00% increase year-on-year[28]. - The company reported a net profit margin of 15%, indicating strong operational performance and cost management[95]. - The company reported a net profit of CNY 1,019,141,323.37 in retained earnings, an increase from CNY 971,482,024.51 at the end of 2018, reflecting a growth of 4.9%[168]. - The company's net profit for the first half of 2019 was not explicitly stated but indicated a significant decline compared to the previous year, reflecting ongoing challenges in the market[181]. - The net profit attributable to the parent company for the first half of 2019 was CNY 88,074,948.86, an increase of 6.1% from CNY 82,733,378.80 in the previous year[188]. Cash Flow and Assets - Net cash flow from operating activities reached ¥22,198,831.95, representing a significant increase of 128.86% compared to the same period last year[28]. - The total assets at the end of the reporting period were ¥2,495,029,472.26, down 4.90% from the end of the previous year[28]. - The cash and cash equivalents were CNY 1,425,219,941.23, a decline of 4.2% compared to CNY 1,488,932,353.83 at the end of 2018[160]. - The total assets of the company as of June 30, 2019, were CNY 2,433,893,664.38, down from CNY 2,555,616,439.76 at the end of 2018, representing a decrease of about 4.8%[179]. - The company's cash and cash equivalents decreased to CNY 1,304,736,249.05 from CNY 1,355,345,195.12, a decline of approximately 3.7%[174]. Investments and R&D - The company increased its investment in construction projects by 107.68% compared to the beginning of the year[38]. - The company is investing 200 million yuan in research and development for new technologies aimed at improving operational efficiency[102]. - Research and development expenses rose by 2.99% to CNY 24,287,887.88[53]. - Research and development expenses for the first half of 2019 were CNY 24,287,887.88, slightly up from CNY 23,583,633.54 in the same period of 2018, indicating a focus on innovation despite revenue declines[181]. Market and Strategic Initiatives - The company is actively expanding into public energy metering and energy IoT sectors, despite competitive pressures[10]. - The company is actively developing smart water metering products and systems, with rapid growth in the smart water meter business[49]. - The company is expanding its market for electric vehicle smart charging equipment and cloud service systems, with applications in various sectors[49]. - The company is focusing on technology innovation, enhancing product quality, and maintaining a leading market share in smart metering and collection systems[49]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[100]. Shareholder and Governance Matters - The company plans to not distribute cash dividends or issue bonus shares[11]. - The company has established a strong governance structure and decision-making mechanism to ensure sustainable development[45]. - The actual controller and major shareholders have strictly adhered to their commitments regarding share transfer restrictions, with no violations reported[79]. - The company has committed to avoiding conflicts of interest and ensuring that no funds or assets are improperly utilized or transferred[90]. - The company has maintained compliance with all commitments made during the initial public offering and subsequent financing activities[81]. Risks and Challenges - The company faces risks related to market competition and talent retention in a rapidly evolving industry[9]. - The company faces risks related to industry dependence, market competition, talent retention, and uncertain business expansion[75]. Other Financial Metrics - Sales expenses decreased by 1.72% to CNY 26,855,813.68 compared to the previous period[53]. - The company reported a significant increase in financial expenses, with a rise of 179.77% due to increased interest income during the reporting period[53]. - The company reported a total of 62,935.47 million RMB in committed investment projects, with a significant increase of 4,045.3 million RMB compared to the previous period[63]. - The company has not engaged in any derivative investments or entrusted loans during the reporting period[69][70]. - The company has not sold any significant assets or equity during the reporting period[71][72].

Financial Performance - Total revenue for Q1 2019 was ¥166,084,685.77, a decrease of 14.08% compared to ¥193,306,266.59 in the same period last year[9] - Net profit attributable to shareholders was ¥38,640,808.10, representing an increase of 6.33% from ¥36,341,645.97 year-on-year[9] - Net profit excluding non-recurring gains and losses was ¥35,637,708.39, up 15.30% from ¥30,907,927.73 in the previous year[9] - The company's total revenue for the first quarter was 166.08 million yuan, a decline of 14.08% year-on-year, while operating profit increased by 22.64% to 45.79 million yuan[27] - The company's net profit attributable to shareholders for the reporting period was 38.64 million yuan, an increase of 6.33% compared to the same period last year[27] - The company's operating revenue for the current period is ¥126,342,304.49, a decrease of 26% compared to ¥170,830,574.47 in the previous period[141] - Operating profit for the current period is ¥29,235,271.37, down from ¥33,838,855.53 in the previous period, reflecting a decline of approximately 13%[144] - Net profit for the current period is ¥24,593,109.97, compared to ¥33,498,440.78 in the previous period, indicating a decrease of about 26.5%[144] Cash Flow and Assets - Net cash flow from operating activities decreased by 49.81% to ¥12,229,876.79 from ¥24,368,526.86 in the same period last year[9] - The company's cash and cash equivalents at the end of the period amounted to 326.16 million yuan, an increase of 78.10% year-on-year, primarily due to a reduction in financial products compared to the same period last year[26] - Cash flow from operating activities is ¥12,229,876.79, a decrease from ¥24,368,526.86 in the previous period[152] - The ending cash and cash equivalents balance was 266,412,195.83, down from 431,877,894.83, reflecting a decrease of approximately 38.3%[161] - Total assets at the end of the reporting period were ¥2,579,675,280.12, down 1.67% from ¥2,623,550,933.13 at the end of the previous year[9] - Current assets totaled approximately ¥2.27 billion, a decrease of 2.73% from ¥2.33 billion on December 31, 2018[115] - Total liabilities decreased to approximately ¥387.31 million, down 16.63% from ¥464.53 million[121] Shareholder Information - The top shareholder, Hangzhou Juhua Group Co., Ltd., holds 22.81% of the shares, with a total of 93,420,000 shares[14] - The company plans to repurchase shares with a total amount not less than 200 million yuan and not exceeding 400 million yuan, with a repurchase price not exceeding 10 yuan per share[31] - The company repurchased a total of 761,000 shares, accounting for 0.19% of the total share capital, with a total transaction amount of 6,310,330.74 yuan, at a maximum price of 9.988 yuan/share and a minimum price of 7.08 yuan/share[34] - The actual controller and major shareholders committed to not transferring or managing their shares for 36 months from the date of the company's listing, ensuring compliance with the lock-up period[36] - The company’s major shareholders, including Ding Minhua, committed to not reducing their holdings within two years after the lock-up period expires, ensuring stability in shareholding[39] Compliance and Governance - The company has established a commitment to avoid and minimize related party transactions, ensuring fair pricing and protecting the interests of shareholders[42] - The company has committed to maintaining transparency in its financial activities and ensuring compliance with regulatory requirements[42] - The company has stated that it will take corrective actions within the required timeframe if any public commitments are violated, including compensating investors for direct losses[52] - The company has emphasized its commitment to maintaining a competitive edge by not engaging in any business that could potentially compete with its existing or future products[46] - The company has reiterated its commitment to uphold all promises made during the IPO process, ensuring no violations have occurred[54] Research and Development - The company is actively expanding into the energy service sector and developing the energy IoT industry to enhance its sustainable profitability[27] - The company has made progress in its key R&D project related to public energy IoT smart information management and service systems, which is expected to enhance its core competitiveness[27] - Research and development expenses for the current period are ¥13,788,491.33, slightly up from ¥13,288,401.01 in the previous period, indicating an increase of approximately 3.8%[134] Financial Instruments and Investments - The company has implemented new financial instrument standards starting January 1, 2019, affecting financial statement formats[168] - The total amount of raised funds is CNY 62,935.47 million, with no changes in usage proportion[65] - The company has invested CNY 1,642.93 million in the current quarter, with a cumulative investment of CNY 15,681.62 million[65] - The energy demand-side IoT information platform project has reached 17.24% of its expected benefits, with CNY 444.84 million invested so far[65] - The smart power meter and smart distribution equipment project has achieved 9.83% of its expected benefits, with CNY 442.98 million invested[65]

Financial Performance - The company's operating revenue for 2018 was ¥871,902,385.03, a decrease of 10.41% compared to ¥973,161,986.59 in 2017[22]. - The net profit attributable to shareholders for 2018 was ¥135,822,633.51, down 13.66% from ¥157,307,993.01 in 2017[22]. - The net profit after deducting non-recurring gains and losses was ¥102,541,509.27, a decline of 26.14% compared to ¥138,824,744.26 in 2017[22]. - The total assets at the end of 2018 were ¥2,623,550,933.13, an increase of 2.85% from ¥2,550,857,931.95 at the end of 2017[22]. - The net assets attributable to shareholders at the end of 2018 were ¥2,157,900,549.94, up 5.10% from ¥2,053,126,273.17 at the end of 2017[22]. - The basic earnings per share for 2018 was ¥0.33, a decrease of 23.26% from ¥0.43 in 2017[22]. - The cash flow from operating activities for 2018 was ¥229,959,676.87, down 4.42% from ¥240,601,812.07 in 2017[22]. - The total operating revenue for 2018 was ¥871,902,385.03, a decrease of 10.41% compared to ¥973,161,986.59 in 2017[64]. - The revenue from the electrical instrumentation industry was ¥869,373,265.25, accounting for 99.71% of total revenue, with a year-on-year decrease of 10.44%[64]. - The revenue from smart metering and collection systems was ¥701,841,446.98, representing 80.50% of total revenue, down 9.30% from the previous year[64]. - Domestic revenue was ¥766,178,500.21, making up 87.87% of total revenue, with a decrease of 9.17% year-on-year[67]. Dividend Distribution - The company reported a profit distribution plan to distribute cash dividends of 1.00 RMB (including tax) for every 10 shares based on a total of 409,619,150.00 RMB[5]. - The proposed cash dividend for 2018 is 1 yuan per 10 shares, totaling 40,961,915.00 yuan, which represents 30.16% of the net profit attributable to shareholders[116]. - The remaining undistributed profit for the year is 811,209,403.37 yuan, which will be retained for operational needs[114]. - The company has consistently paid dividends over the past three years, with 2016, 2017, and 2018 cash dividends amounting to 54,401,625.00 yuan, 32,769,532.00 yuan, and 40,961,915.00 yuan respectively[115]. - The cash dividend payout ratio for 2017 was 20.83% and for 2016 was 21.29%[116]. - The company plans to maintain its dividend policy while ensuring normal operations and long-term development[114]. - The cash dividends for 2018 will be distributed based on the total share capital as of December 31, 2018, which is 409,619,150 shares[115]. Business Strategy and Development - The company is actively expanding into public energy metering, energy internet, and power service sectors, indicating potential for uncertain profit growth[5]. - The company is focused on strengthening corporate culture and employee cohesion to mitigate risks related to talent retention[5]. - The company aims to enhance its core business and accelerate the upgrade of its business structure in 2019, focusing on comprehensive energy service solutions[54]. - The company plans to actively seek external acquisition opportunities to strengthen its strategic layout in the energy internet and IoT sectors[59]. - The company is focusing on R&D in energy internet and IoT applications to build sustainable core competitive advantages[59]. - The company is committed to optimizing its organizational structure and processes to improve operational efficiency and profitability[57]. - The company is increasing R&D investment to develop new technologies in public energy metering, smart flow measurement, and electrical safety monitoring[102]. - The company aims to enhance its marketing strategies and optimize its marketing management system to improve service innovation and expand marketing channels[102]. Risks and Challenges - The company faces risks related to reliance on the power system industry, as its business development is closely tied to the scale and planning of grid investments[5]. - The company acknowledges the risk of new business development uncertainties as it integrates resources for expansion[5]. - The company is experiencing intense competition in the smart energy meter market due to centralized large-scale bidding models adopted by major grid companies[5]. - The company operates in a competitive environment where product quality and technological capabilities are increasingly critical for maintaining market share[5]. Research and Development - The company has a strong design and R&D capability with a large pool of technical talent in the smart energy meter and information collection system sector[5]. - Research and development expenses for the year were ¥49,288,617.50, representing 5.65% of total revenue, showing a steady increase in R&D investment[78]. - The company has committed to developing new technologies in energy management and smart energy solutions[171]. Shareholder Commitments and Governance - The company has ensured compliance with all commitments made by its major shareholders, with no violations reported[125]. - The company has established a commitment to avoid and minimize related party transactions, ensuring fair pricing in any unavoidable transactions[130]. - The company guarantees that it will not engage in any competitive activities that could harm its interests or those of its shareholders[133]. - The company has committed to not producing or developing any competing products or services, ensuring no conflict with its business operations[136]. - The company reported a commitment to ensure that the initial public offering documents do not contain false records, misleading statements, or significant omissions, with a promise to compensate investors for any losses incurred due to violations[137]. - The company has made a commitment to strictly adhere to the measures for compensating diluted immediate returns, with a promise to publicly explain any failures to fulfill these measures at the shareholders' meeting[145]. - The company’s board and senior management have pledged to act diligently in maintaining the legal rights of the company and all shareholders, ensuring no unfair benefits are provided to other entities or individuals[145]. - The company has committed to maintaining transparency and accountability in its operations and financial reporting[145]. Market Position and Competition - The company maintained a leading market share in the smart metering and collection system (AMI) business, leveraging technological innovation and improving product quality[52]. - The market for electric vehicle smart charging equipment and cloud service systems has further expanded, with applications in various sectors including public transport and overseas markets[53]. - The company is actively promoting the application of the energy Internet and ubiquitous power IoT, providing energy monitoring and comprehensive energy-saving services[53]. Cash Flow and Investments - The company reported a significant increase in investment cash inflow, totaling ¥303,661,099.29, a 1,389.42% rise from the previous year[82]. - Cash and cash equivalents increased by ¥327,740,765.89, marking a 1,685.67% rise compared to the previous year[82]. - The proportion of cash and cash equivalents to total assets rose to 56.75%, up from 40.43% in the previous year[85]. - The total investment amount for the reporting period was ¥72,865,913.34, a decrease of 32.09% compared to ¥107,302,190.34 in the same period last year[89]. Shareholder Structure - The total number of ordinary shareholders at the end of the reporting period was 17,397, an increase from 16,462 at the end of the previous month[198]. - The largest shareholder, Hangzhou Juhua Group, holds 22.81% of the shares, totaling 93,420,000 shares[198]. - Ding Minhua, a natural person, holds 11.52% of the shares, amounting to 47,175,000 shares[198]. - The total number of shares held by the top 10 shareholders is significant, indicating concentrated ownership[198]. - The company has a diverse shareholder structure, including both natural persons and non-state-owned legal entities[198].

[Important Notice](index=2&type=section&id=Section%20I%2E%20Important%20Notice) The company's board, supervisory board, and senior management guarantee the truthfulness and completeness of this quarterly report, assuming legal responsibility [Report Authenticity Statement](index=2&type=section&id=1.1%20Report%20Authenticity%20Statement) The company's board of directors, supervisory board, and all senior management ensure the truthfulness, accuracy, and completeness of this quarterly report, free from false records, misleading statements, or major omissions, and assume corresponding legal responsibilities - The company's directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content and assume legal responsibility[4](index=4&type=chunk) - The company's principal officer, the person in charge of accounting work, and the head of the accounting department all declare to guarantee the truthfulness, accuracy, and completeness of the financial statements[5](index=5&type=chunk) [Company Basic Information](index=3&type=section&id=Section%20II%2E%20Company%20Basic%20Information) As of Q3 2018, total assets slightly increased by 0.15% to RMB 2.555 billion, while year-to-date operating revenue decreased by 9.89% to RMB 638 million, and net profit attributable to shareholders grew by 7.07% to RMB 128 million, despite a 110.84% decline in operating cash flow [Key Accounting Data and Financial Indicators](index=3&type=section&id=一%E3%80%81%20Key%20Accounting%20Data%20and%20Financial%20Indicators) As of the end of Q3 2018, total assets were RMB 2.555 billion, a slight increase of 0.15% from year-end, while year-to-date operating revenue decreased by 9.89% to RMB 638 million, but net profit attributable to shareholders increased by 7.07% to RMB 128 million, and net cash flow from operating activities significantly declined by 110.84% to RMB -15.016 million Key Accounting Data and Financial Indicators (Year-to-Date) | Indicator | 2018 Q1-Q3 | YoY Change | | :--- | :--- | :--- | | Operating Revenue (RMB) | 638,174,199.22 | -9.89% | | Net Profit Attributable to Shareholders (RMB) | 128,397,385.37 | 7.07% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (RMB) | 111,600,946.85 | 3.05% | | Net Cash Flow from Operating Activities (RMB) | -15,015,779.44 | -110.84% | | Basic Earnings Per Share (RMB/share) | 0.31 | -6.06% | | Weighted Average Return on Net Assets | 6.11% | -2.83% | | **Period-End Data** | **September 30, 2018** | **Change from Prior Year-End** | | Total Assets (RMB) | 2,554,655,681.56 | 0.15% | | Net Assets Attributable to Shareholders (RMB) | 2,148,806,914.80 | 4.66% | Non-recurring Gains and Losses (Year-to-Date) | Item | Amount (RMB) | | :--- | :--- | | Government Grants | 6,960,571.80 | | Gains/Losses from Entrusted Investments or Asset Management | 12,833,254.75 | | **Total** | **16,796,438.52** | [Shareholder Information](index=4&type=section&id=二%E3%80%81%20Shareholder%20Information) The company had 18,002 common shareholders at period-end, with Hangzhou Juhua Group as the largest at 22.81%, and restricted shares saw changes due to executive lock-up adjustments - At the end of the reporting period, the company had **18,002** common shareholders[12](index=12&type=chunk) Top Ten Shareholders' Holdings | Shareholder Name | Holding Percentage | Number of Shares Held | | :--- | :--- | :--- | | Hangzhou Juhua Group Co., Ltd. | 22.81% | 93,420,000 | | Ding Minhua | 11.52% | 47,175,000 | | Hong Jun | 3.86% | 15,828,114 | | Yu Qin | 3.56% | 14,580,000 | | Guo Yuanyue | 2.53% | 10,374,720 | - During the reporting period, due to executive departures, new appointments, and share unfreezing, the company's total restricted shares changed from **134,589,745** shares at the beginning of the period to **136,234,495** shares at the end of the period[15](index=15&type=chunk)[16](index=16&type=chunk) [Significant Events](index=7&type=section&id=Section%20III%2E%20Significant%20Events) Significant changes occurred in financial items, including increased prepayments and construction in progress, decreased other current assets from wealth management redemptions, a 6612.52% surge in investment income, a 110.84% decline in operating cash flow, and a 246.63% increase in investing cash flow [Significant Changes and Reasons for Key Financial Data](index=7&type=section&id=一%E3%80%81%20Significant%20Changes%20and%20Reasons%20for%20Key%20Financial%20Data) During the reporting period, several financial items experienced significant changes, with prepayments and construction in progress increasing substantially, other current assets decreasing due to wealth management product redemptions, investment income surging by 6612.52% from increased wealth management product returns, operating cash flow net decreasing by 110.84% due to reduced sales collections, and investing cash flow net increasing by 246.63% from wealth management product redemptions - Reasons for Balance Sheet Item Changes - **Prepayments** increased by **132.66%**, primarily due to increased advance payments for goods[19](index=19&type=chunk) - **Other current assets** decreased by **42.90%**, primarily due to the redemption of wealth management products[19](index=19&type=chunk) - **Construction in progress** increased by **828.67%**, primarily due to increased investment in multiple smart energy projects[19](index=19&type=chunk) - **Taxes payable** decreased by **81.67%**, primarily due to a reduction in value-added tax payable[19](index=19&type=chunk) - Reasons for Income Statement Item Changes - **Financial expenses** decreased by **111.80%**, primarily due to a year-on-year increase in interest income[20](index=20&type=chunk) - **Investment income** increased by **6612.52%**, primarily due to a year-on-year increase in wealth management product returns[20](index=20&type=chunk) - Reasons for Cash Flow Statement Item Changes - **Net cash flow from operating activities** decreased by **110.84%**, primarily due to a reduction in cash received from sales of goods[20](index=20&type=chunk) - **Net cash flow from investing activities** increased by **246.63%**, primarily due to increased redemption of wealth management products[20](index=20&type=chunk) [Fulfillment of Commitments](index=8&type=section&id=三%E3%80%81%20Fulfillment%20of%20Commitments) The company and related parties strictly adhered to all IPO and refinancing commitments, including share lock-up, reduction, and non-competition, with no violations reported - The company, controlling shareholders, actual controllers, and directors, supervisors, and senior management strictly adhered to commitments made during initial public offerings and refinancing, including share lock-up, share reduction, horizontal competition, and related party transactions, with no violations during the reporting period[21](index=21&type=chunk)[22](index=22&type=chunk)[25](index=25&type=chunk) - Shareholder Yu Qin violated original commitments by selling shares below the offering price and now pledges to remit the proceeds of **RMB 1,704,860.03** to the listed company by December 31, 2018[33](index=33&type=chunk) [Execution of Cash Dividend Policy](index=20&type=section&id=四%E3%80%81%20Execution%20of%20Cash%20Dividend%20Policy) In May 2018, the company completed its 2017 profit distribution, paying a cash dividend of RMB 0.8 per 10 shares to all shareholders, totaling approximately RMB 32.77 million - On May 25, 2018, the company completed its 2017 profit distribution, based on a total share capital of **409,619,150** shares, distributing a cash dividend of **RMB 0.8** (tax inclusive) per 10 shares, totaling **RMB 32,769,532**[34](index=34&type=chunk) [Financial Statements](index=21&type=section&id=Section%20IV%2E%20Financial%20Statements) This section presents the company's unaudited consolidated and parent company financial statements for Q3 2018, encompassing the balance sheet, income statement, and cash flow statement [Financial Statements](index=21&type=section&id=一%E3%80%81%20Financial%20Statements) This section provides the company's unaudited consolidated and parent company financial statements for the third quarter of 2018, including the balance sheet, income statement, and cash flow statement - This section includes the consolidated and parent company balance sheets as of September 30, 2018[39](index=39&type=chunk)[43](index=43&type=chunk) - This section includes the consolidated and parent company income statements for the third quarter of 2018 (this reporting period) and year-to-date[47](index=47&type=chunk)[51](index=51&type=chunk)[55](index=55&type=chunk)[59](index=59&type=chunk) - This section includes the consolidated and parent company cash flow statements for the year-to-date period of 2018[62](index=62&type=chunk)[66](index=66&type=chunk) [Audit Report](index=37&type=section&id=二%E3%80%81%20Audit%20Report) The company's third-quarter report remains unaudited - The company's third-quarter report is unaudited[69](index=69&type=chunk)

Financial Performance - Total revenue for the first half of 2018 was approximately ¥433.85 million, a decrease of 11.44% compared to ¥489.92 million in the same period last year[17]. - Net profit attributable to shareholders increased by 3.22% to approximately ¥82.73 million, up from ¥80.15 million in the previous year[17]. - Basic and diluted earnings per share decreased by 9.09% to ¥0.20, down from ¥0.22 in the previous year[17]. - The company's operating revenue for the reporting period was ¥433,850,676.96, a decrease of 11.44% compared to the same period last year[38]. - The company reported a total revenue of 1,000 million CNY for the first half of 2018, with a year-on-year growth of 8.73%[55]. - The company achieved a net profit of 194.4 million CNY, reflecting a profit margin of 4.10%[55]. - The company reported a total of 12,000 million in fundraising for the financial product with a one-time interest rate of 4.60%[57]. - The company achieved a collection of 276.76 million from the financial product that matured in June 2018[57]. Cash Flow and Investments - Net cash flow from operating activities surged by 254.39% to approximately ¥4.70 million, compared to ¥1.33 million in the same period last year[17]. - Net cash flow from investing activities was ¥206,158,680.33, a significant increase of 593.92% compared to the previous year, mainly from redeeming financial products[38]. - The company's cash and cash equivalents increased by 297.80% to ¥187,421,103.39, driven by higher net cash flow from investing activities[38]. - The company reported a total cash inflow from financing activities of CNY 5,000,000.00, with no new borrowings or bond issuances reported during the period[151]. - The cash inflow from investment activities was CNY 223,112,748.63, a significant increase from CNY 10,740,404.98 in the previous year, highlighting successful investment strategies[151]. Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥2.56 billion, an increase of 0.51% from ¥2.55 billion at the end of the previous year[17]. - The company's total equity increased to CNY 2,105,207,852.27 from CNY 2,056,004,027.16, representing a growth of about 2.4%[132]. - The total current liabilities decreased to CNY 452,662,404.71 from CNY 493,866,011.18, a reduction of approximately 8.4%[131]. - The company's total liabilities decreased, contributing to a stronger balance sheet and improved financial stability[156]. Business Strategy and Market Expansion - The company is actively expanding into public energy metering, energy internet, and power service sectors, although the profitability of these new ventures remains uncertain[5]. - The company is focusing on the development of global smart metering and collection systems (AMI) to enhance its competitive advantage overseas[35]. - The company plans to expand its market presence by launching new financial products in the second half of 2018[55]. - The company plans to expand its market presence by entering three new regions by the end of 2018, targeting a 15% market share in these areas[60]. - New product launches are expected to drive an additional 10% revenue growth in the next quarter, with a focus on innovative technology solutions[60]. Risks and Challenges - The company faces risks related to reliance on the power system industry, market competition, talent retention, and new business development[4]. - Market competition is intensifying due to standardized procurement processes by major grid companies, increasing the pressure on maintaining market share[66]. - The company is heavily reliant on the electricity system industry, which poses risks related to business fluctuations based on grid investment scales[66]. - New business development in public energy measurement and power services carries uncertainties regarding profitability growth[67]. Shareholder and Governance Matters - The company does not plan to distribute cash dividends or issue bonus shares for the reporting period[5]. - The company has committed to a 12-month lock-up period for newly issued shares from the date of listing, prohibiting any transfer of these shares[73]. - The company has ensured that any share reductions will not be below the issuance price[75]. - The company has reported a commitment to avoid and reduce related party transactions and conflicts of interest, ensuring fair pricing in transactions with related parties[77]. - The company has committed to strict adherence to regulations protecting the rights of small investors, as outlined in government opinions on capital market development[82]. Research and Development - Research and development investment was ¥23,583,633.54, down 9.59% year-on-year[38]. - The company has allocated 200 million RMB for research and development in 2018, aiming to enhance product offerings and technological advancements[60]. - The company has a strong technical innovation advantage, being a high-tech enterprise with a dedicated R&D center[25]. Compliance and Legal Matters - The financial report for the first half of the year was not audited[86]. - The company has not reported any violations of its commitments regarding share transfers[74]. - The company has not experienced any major litigation or arbitration matters during the reporting period[88]. - There were no significant penalties or rectification measures during the reporting period[89].

Financial Performance - Total revenue for Q1 2018 was ¥193,306,266.59, a decrease of 18.49% compared to ¥237,159,393.77 in the same period last year[8] - Net profit attributable to shareholders was ¥36,341,645.97, down 22.28% from ¥46,759,314.36 year-on-year[8] - Net profit excluding non-recurring gains and losses was ¥30,907,927.73, a decrease of 16.03% from ¥36,806,364.24 in the previous year[8] - Basic and diluted earnings per share were both ¥0.09, down 30.77% from ¥0.13 in the previous year[8] - The total comprehensive income for the period was ¥36,451,348.66, down 22% from ¥46,757,685.96 in the previous year[58] - The net profit for Q1 2018 was ¥33,498,440.78, down 21.6% from ¥42,763,405.82 in Q1 2017[58] - The operating profit for the current period was ¥33,838,855.53, a decline of 13.8% from ¥38,975,490.86 in the previous year[58] Cash Flow - Operating cash flow improved significantly, with a net cash flow from operating activities of ¥24,368,526.86, compared to a negative cash flow of ¥36,931,240.97 in the same period last year, representing a 165.98% increase[8] - The net cash flow from operating activities was CNY 26,766,810.39, a significant improvement from a net outflow of CNY 28,464,024.23 in the previous period[66] - Total cash inflow from operating activities amounted to CNY 221,550,585.40, compared to CNY 153,826,755.96 in the prior period, reflecting a growth of approximately 44%[66] - The company reported a net cash outflow from investing activities of -¥24,599,755.82, an improvement from -¥56,572,750.87 in the same period last year[63] - Cash inflow from investing activities reached CNY 119,305,236.52, a substantial increase from CNY 1,715,051.58 in the prior period[66] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,528,900,760.30, a decrease of 0.86% from ¥2,550,857,931.95 at the end of the previous year[8] - The total liabilities decreased to CNY 429.11 million from CNY 487.11 million, indicating a reduction of about 11.9%[52] - Cash and cash equivalents decreased from 1,031,208,699.19 yuan to 929,138,061.34 yuan[46] - Accounts receivable decreased from 475,003,502.56 yuan to 429,952,483.34 yuan[46] Shareholder Commitments and Corporate Governance - Shareholders have made commitments to not reduce their holdings for a period of two years post-lockup, ensuring stability in the company's stock performance[24] - The company has committed to maintaining a strict compliance with regulatory requirements regarding shareholding and stock sales, ensuring transparency and investor confidence[25] - The company has established a framework to compensate investors for any direct losses resulting from false statements or misleading information in its public disclosures[29] - The company has committed to repurchase shares if any significant misrepresentation in its prospectus is proven, ensuring investor protection[30] - The company has made commitments to protect the legal rights of all shareholders and will compensate for any losses incurred by investors due to unfulfilled commitments[33] Market Strategy and Future Outlook - The company is actively expanding into the energy service sector and developing the energy IoT industry to enhance sustainable profitability[18] - The company has outlined its future outlook, projecting a revenue growth rate of approximately 20% for the upcoming quarters, driven by new product launches and market expansion strategies[26] - New product development is a key focus, with investments aimed at enhancing technology and product offerings to meet market demands[25] - The company is exploring market expansion opportunities, particularly in international markets, to diversify its revenue streams and reduce dependency on domestic sales[24] Risks and Challenges - The company faces risks related to dependence on the power system industry, market competition, talent retention, and new business development[10] - The company reported a significant increase in interest receivables, which rose by 96.39% to CNY 5.21 million[16] - The top five suppliers accounted for 30.93% of total purchases, up from 21.43% in the same period last year, indicating a shift in supplier concentration[19] - The top five customers accounted for 29.29% of total sales, down from 53.02% in the same period last year, suggesting a diversification in customer base[20]

Financial Performance - The company reported a total revenue of RMB 973,161,986.59 for the year 2017, with a net profit attributable to shareholders of RMB 157,307,993.01[91]. - The company's operating revenue for 2017 was ¥973,161,986.59, a decrease of 18.50% compared to 2016[20]. - The net profit attributable to shareholders for 2017 was ¥157,307,993.01, down 38.43% from the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥138,824,744.26, a decline of 42.41% year-over-year[20]. - The total assets at the end of 2017 increased by 42.08% to ¥2,550,857,931.95 compared to the end of 2016[20]. - The net assets attributable to shareholders rose by 57.36% to ¥2,053,126,273.17 at the end of 2017[20]. - The basic earnings per share for 2017 was ¥0.43, a decrease of 39.44% from ¥0.71 in 2016[20]. - The company reported a significant increase in cash flow from operating activities, with a net cash flow of ¥240,601,812.07, up 0.05% from the previous year[20]. - The gross profit margin for the electrical instrumentation industry was 31.94%, down 4.61% from the previous year[53]. - The company reported a total investment of 12,000 million RMB in financial products with a return rate of 4.60%[134]. Dividend Distribution - The company reported a profit distribution plan, proposing a cash dividend of 0.80 RMB per 10 shares, based on a total of 409,619,150.00 RMB[7]. - The proposed cash dividend for 2017 is RMB 0.80 per 10 shares, totaling RMB 32,769,532.00, which represents 20.83% of the net profit attributable to shareholders[95]. - The cash dividend accounts for 100% of the total profit distribution for the year[92]. - The company has consistently maintained a cash dividend payout ratio around 20% over the past three years[95]. - The total distributable profit for the year is RMB 761,610,684.13, which includes RMB 694,952,945.90 from the previous year[91]. Market Position and Competition - The company is heavily reliant on the power system industry, with its products primarily serving national and provincial power grids, indicating a direct correlation with grid investment scales[6]. - The company faces market competition risks due to centralized bidding processes for smart electric meters and information collection systems, which may impact market share[6]. - The company operates in a competitive environment where product quality and technological capabilities are increasingly critical for maintaining market position[6]. - The company has steadily increased its market share in the domestic AMI market despite a decline in smart meter and data collection tenders from State Grid and Southern Grid[40]. Research and Development - The company has a strong R&D capability in smart electric meters and information collection systems, but faces risks related to talent retention amid fierce competition for skilled personnel[6]. - The company has a strong focus on technology innovation, being a high-tech enterprise with a dedicated R&D center and participation in industry standards[33]. - The company plans to enhance its R&D efforts in areas such as smart metering technology and IoT applications, focusing on integrating big data and cloud computing[84]. - The company is actively developing an energy demand-side IoT information platform, aiming to provide energy monitoring and maintenance services to residential and commercial users[83]. - R&D expenditure for 2017 was ¥53,633,609.03, accounting for 5.51% of total revenue, showing a steady increase from 4.68% in 2016[63]. Corporate Governance and Compliance - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and management[4]. - The company will continue to strengthen its internal control systems and corporate governance to protect shareholder rights and enhance operational transparency[45]. - The independent directors have fulfilled their responsibilities in the decision-making process for the dividend distribution[90]. - The company has committed to avoiding and minimizing related party transactions to protect shareholder interests[100]. - The company guarantees that it will not use its position to harm the interests of shareholders through related party transactions[100]. Strategic Initiatives - The company is actively expanding into public energy measurement, energy internet, and power service sectors, although the profitability of these new ventures remains uncertain[7]. - The company intends to utilize capital market opportunities for strategic acquisitions and investments in emerging industries such as artificial intelligence and high-end equipment manufacturing[45]. - The company aims to enhance its core competitiveness through technological innovation and participation in industry standards formulation, focusing on key project R&D and strengthening its internal growth momentum[43]. - The company is focused on becoming a global leader in energy IoT equipment and services, with a vision to build a sustainable competitive advantage through innovation and market expansion[47]. Employee Management and Culture - The company emphasizes the importance of corporate culture and employee incentives to maintain team stability and alignment with shareholder goals[6]. - The company has implemented a stock incentive plan for its management team and key personnel to enhance motivation and stability[6]. - The company emphasizes talent development and performance management to enhance team execution and mission awareness[44]. - The company has established a performance-centered management system to enhance employee potential and achieve corporate goals[195]. Shareholder Structure and Changes - The total number of shares for the dividend calculation is 409,619,150[92]. - The largest shareholder, Hangzhou Juhua Group Co., Ltd., holds 22.81% of the shares, amounting to 93,420,000 shares[163]. - The second-largest shareholder, Ding Minhua, owns 11.52% with 47,175,000 shares, with no changes during the reporting period[163]. - The total number of shareholders increased to 20,822 from 19,268 in the previous month, indicating a growth of approximately 8%[162]. - The company’s total share capital and shareholder structure underwent changes due to the non-public offering and share repurchase activities[160]. Financial Products and Investments - The company has a financial product with a total investment of 1,600 million RMB, also with a return rate of 4.60%[134]. - The company has a financial product with a total investment of 5,000 million RMB and a return rate of 4.70%[134]. - The company has a total of 0.14 million received from an investment of 80 million[137]. - The company reported a total of 52,157 million CNY in entrusted financial management during the reporting period, with an outstanding balance of 43,907 million CNY[132]. - The company is actively managing its investment portfolio to optimize returns while maintaining liquidity[141].

Financial Performance - Operating revenue for the reporting period was ¥218,288,508.10, a decrease of 36.09% year-on-year[8]. - Net profit attributable to shareholders decreased by 44.39% to ¥39,769,308.79 compared to the same period last year[8]. - Basic earnings per share were ¥0.11, down 45.00% compared to the same period last year[8]. - The company reported a 43.06% decrease in operating profit, driven by reduced revenue and increased sales expenses for new business initiatives[22]. - The company’s net profit for the first three quarters of 2017 is projected to be stable compared to the previous year, with no significant changes expected[50]. - Total operating revenue for the current period was ¥218,288,508.10, a decrease of 36.1% compared to ¥341,551,180.63 in the previous period[64]. - Net profit for the current period was ¥39,751,351.74, down 44.5% from ¥71,513,992.13 in the previous period[65]. - Total operating revenue for the third quarter was CNY 708.21 million, a decrease of 21.7% compared to CNY 904.18 million in the same period last year[72]. - Operating profit for the third quarter was CNY 35.03 million, down 47.0% from CNY 66.22 million year-over-year[70]. - Net profit for the third quarter was CNY 29.63 million, a decline of 52.5% compared to CNY 62.42 million in the previous year[70]. Asset and Liability Management - Total assets at the end of the reporting period reached ¥1,818,396,645.69, an increase of 1.29% compared to the end of the previous year[8]. - The total equity attributable to the parent company increased to CNY 1,372,639,194.90 from CNY 1,304,758,209.64, reflecting a growth of approximately 5.2%[59]. - The total liabilities decreased to CNY 442,486,864.47 from CNY 487,262,355.63, a decline of approximately 9.2%[58][59]. - The company's cash and cash equivalents decreased to CNY 673,018,107.39 from CNY 698,630,581.24, representing a decline of about 3.7%[56][59]. - The total assets increased to ¥1,722,362,304.71 from ¥1,696,478,945.65, representing a growth of 1.5%[62]. - The total liabilities decreased to ¥426,337,233.81 from ¥455,954,115.83, a reduction of 6.5%[62]. Cash Flow Analysis - The net cash flow from operating activities for the year-to-date was ¥138,477,179.42, an increase of 104.26%[8]. - The company's net cash flow from operating activities rose by 104.26% to RMB 138.478 million, attributed to enhanced collection efforts and increased cash received from sales[23]. - Cash flow from operating activities was CNY 693.49 million, an increase from CNY 554.72 million year-over-year[79]. - Net cash flow from operating activities reached CNY 138,477,179.42, significantly up from CNY 67,794,837.55 in the same period last year, indicating a year-over-year increase of about 104.5%[80]. - The company reported a net cash outflow of CNY 67,654,070.36 for the quarter, compared to a smaller outflow of CNY 5,897,596.36 in the previous year[81]. Shareholder and Corporate Governance - The total number of ordinary shareholders at the end of the reporting period was 16,273[15]. - The largest shareholder, Hangzhou Juhua Group Co., Ltd., holds 25.76% of the shares[15]. - The company committed to not transferring or entrusting the management of shares for 36 months from the date of stock listing, which started in January 2014[26]. - The actual controller, Ding Minhua, promised not to reduce his direct shareholding for two years after the lock-up period expires[29]. - The company has not violated any commitments made during the initial public offering or refinancing[26]. - The company is committed to compensating investors for any losses incurred due to violations of its public commitments[41]. Strategic Initiatives and Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue growth of 20%[32]. - New product development is underway, with an expected launch of two innovative products by Q4 2017[33]. - The company is expanding its market presence, targeting an additional 10 cities for its services by the end of the year[34]. - A strategic acquisition of a smaller tech firm was completed, enhancing the company's technological capabilities[35]. - The company plans to invest 50 million yuan in R&D for new technologies in the upcoming fiscal year[30]. Compliance and Regulatory Matters - The company is focused on ensuring the accuracy of information and compliance with regulatory requirements[27]. - The company has maintained compliance with all commitments made during the asset restructuring process[26]. - The company will hold investor meetings to discuss its operational status and financial indicators if stock price stabilization measures are triggered[36]. - The company’s stock price stabilization measures will be announced publicly once initiated[37].