证券代码： 300371 证券简称：汇中股份 编号：2021-002 | --- | --- | --- | |-----------------------|----------------------------------|------------------------------------------------------| | | | | | 投资者关系活动 | ■ 特定对象调研 | □ 分析师会议 | | 类别 | □ 媒体采访 □ | 业绩说明会 | | | □ 新闻发布会 □ | 路演活动 | | | □ 现场参观 | | | | □ 其他 | | | 参与单位名称及 | 中国国际金融股份有限公司 | | | 人员姓名 | 邹靖（研究部分析员） | | | | 相聚资本管理有限公司 | | | | 白昊龙（基金经理） | | | | 宝盈基金管理有限公司 | | | | 李健伟（基金经理） | | | 时间 | 2021 年 6 月 15 日上午 | 10:30-12:30 | | 地点 | 公司 | | | | | | | 上市公司接待人 员姓名 | | 董事会秘书冯大鹏先生、证券事务 ...

证券代码： 300371 证券简称：汇中股份 编号：2021-003 汇中仪表股份有限公司投资者关系活动记录表 | --- | --- | --- | |-----------------------|----------------------------------|--------------------------------------------------------| | | | | | 投资者关系活动 | ■ 特定对象调研 | □ 分析师会议 | | 类别 | □ 媒体采访 □ | 业绩说明会 | | | □ 新闻发布会 □ | 路演活动 | | | □ 现场参观 | | | | □ 其他 | | | 参与单位名称及 | 东吴证券股份有限公司研究所 | | | 人员姓名 | 唐亚辉（公共事业行业研究员） | | | 时间 | 2021 年 6 月 17 日上午 | 10:00-11:00 | | 地点 | 公司 | | | 上市公司接待人 员姓名 | | 董事会秘书冯大鹏先生、证券事务代表刘士岩女士 | | | | 首先，公司董事会秘书冯大鹏先生在会议室对公司发展历 | | | | 程、核心 ...

证券代码： 300371 证券简称：汇中股份 编号：2021-005 汇中仪表股份有限公司投资者关系活动记录表 | --- | --- | --- | |-----------------------|------------------------------------|------------------------------------------------------| | | | | | 投资者关系活动 | ■ 特定对象调研 □ | 分析师会议 | | 类别 | □ 媒体采访 □ | 业绩说明会 | | | □ 新闻发布会 □ | 路演活动 | | | □ 现场参观 | | | | □ 其他 | | | 参与单位名称及 | 国盛证券有限责任公司 | | | 人员姓名 | 陆亚兵（机械行业分析师） | | | 时间 | 2021 年 7 月 15 日上午 | 10:00-11:00 | | 地点 | 公司 | | | 上市公司接待人 员姓名 | | 董事会秘书冯大鹏先生、证券事务代表刘士岩女士 | | | | 首先，公司董事会秘书冯大鹏先生在会议室对公司发展历程 | | | 进行了介绍，然后进入 ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥160,692,699.78, representing a year-on-year increase of 25.52%[5] - The net profit attributable to shareholders for the same period was ¥44,406,391.39, up 4.85% compared to the previous year[5] - The net profit after deducting non-recurring gains and losses was ¥41,563,597.53, reflecting a 1.24% increase year-on-year[5] - Total operating revenue for the current period reached ¥353,249,677.52, an increase of 19.5% compared to ¥295,513,584.71 in the previous period[18] - Net profit for the current period was ¥91,857,045.74, representing a 3.6% increase from ¥88,588,982.40 in the same period last year[20] - Basic and diluted earnings per share were both ¥0.5514, compared to ¥0.5323 in the previous period, reflecting a growth of 3.5%[21] Assets and Liabilities - The total assets at the end of the reporting period reached ¥1,151,447,762.55, an increase of 5.38% from the end of the previous year[5] - The company's total assets as of September 30, 2022, amount to CNY 1,151,447,762.55, an increase from CNY 1,092,663,906.64 at the beginning of the year[16] - The total current assets are CNY 687,773,295.90, compared to CNY 654,875,118.92 at the start of the year, reflecting a growth of approximately 5%[15] - The total liabilities as of September 30, 2022, are CNY 172,559,703.53, up from CNY 155,767,748.86 at the beginning of the year[16] - The total equity attributable to the parent company is CNY 978,888,059.02, up from CNY 936,896,157.78 at the beginning of the year[17] Cash Flow - The cash flow from operating activities showed a negative net amount of ¥36,306,568.54, a decline of 98.77% compared to the previous year[12] - Cash flow from operating activities showed a net outflow of ¥36,306,568.54, worsening from a net outflow of ¥18,265,736.83 in the prior period[22] - Cash flow from investing activities increased by 119.51% to ¥68,399,499.24, attributed to reduced fixed asset investments and financial product purchases[12] - Cash flow from investment activities generated a net inflow of ¥68,399,499.24, an increase from ¥31,159,715.13 in the previous period[22] - Cash and cash equivalents at the end of the period totaled ¥24,304,599.02, down from ¥56,974,026.22 at the end of the previous period[22] - The company's cash and cash equivalents decreased to CNY 50,472,574.90 from CNY 67,448,977.52[15] Inventory and Receivables - The company reported a significant increase in inventory, which rose by 57.44% to ¥234,276,894.31, attributed to market conditions[9] - The inventory increased significantly to CNY 234,276,894.31 from CNY 148,799,214.83, indicating a growth of approximately 57.3%[15] - The company reported a significant increase in accounts receivable, which rose to CNY 284,179,598.16 from CNY 264,268,674.49, reflecting a growth of approximately 7%[15] Shareholder Information - The total number of common shareholders at the end of the reporting period is 7,380[13] - The largest shareholder, Zhang Lixin, holds 37.95% of the shares, totaling 63,635,554 shares[13] - The company has a total of 1,220,081 shares held in the repurchase special securities account, ranking as the 9th largest holder of unrestricted shares[13] Other Financial Metrics - The company's weighted average return on equity was 4.65%, down 0.31% from the previous year[5] - The company’s investment income decreased by 65.14% to ¥1,631,703.49, primarily due to reduced financial product returns[10] - The company’s financial expenses saw a significant decrease of 1490.39%, resulting in a net financial income of -¥287,129.45, mainly due to reduced exchange losses[10] - The company reported a decrease in tax expenses to ¥14,437,746.02 from ¥12,922,191.58, indicating a 11.7% increase in tax burden[20] - Other income increased to ¥20,067,785.98 from ¥16,568,888.03, marking a growth of 20.1%[18] - The company experienced a significant reduction in credit impairment losses, improving to ¥738,920.52 from a loss of ¥2,689,697.59 in the previous period[20]

Financial Performance - The company reported a revenue of 300 million RMB for the first half of 2022, representing a year-on-year increase of 15%[19]. - The net profit attributable to shareholders was 50 million RMB, up 20% compared to the same period last year[19]. - The company aims for a revenue growth target of 20% for the full year 2022[19]. - The company's operating revenue for the reporting period was ¥192,556,977.74, representing a 14.96% increase compared to ¥167,495,174.32 in the same period last year[25]. - Net profit attributable to shareholders was ¥47,450,654.35, a 2.62% increase from ¥46,237,403.55 year-on-year[25]. - The net profit after deducting non-recurring gains and losses was ¥44,412,445.38, up 5.94% from ¥41,920,895.22 in the previous year[25]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion CNY for the first half of 2022, representing a year-on-year growth of 15%[150]. - The company has set a future outlook with a revenue target of 2.5 billion CNY for the full year 2022, which would require a 10% increase in the second half[150]. User Growth and Market Expansion - User data showed an increase in the number of active users of the company's products, reaching 1 million, which is a 25% growth year-on-year[19]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[19]. - The company is expanding its market presence, targeting a 25% increase in market share in the next two years[150]. Product Development and Innovation - New product development includes the launch of a smart water meter, expected to contribute an additional 30 million RMB in revenue in the next fiscal year[19]. - The company is focusing on the development of smart water and heating systems, expanding its product line and exploring data value-added service models for users[71]. - The company has launched various smart solutions, including community water management and district metering, to enhance leak detection and improve water resource utilization[52]. - The company has introduced new products such as the HZTJF-P2 wired smart regulating valve and various NB-IoT wireless data collectors to enhance data visualization[77]. Research and Development - The company has invested 20 million RMB in research and development for new technologies, focusing on IoT applications in water management[19]. - The company invested CNY 13.79 million in R&D during the reporting period, resulting in 5 new patent authorizations, including 1 invention patent and 3 design patents[72]. - The company has a total of 101 valid patents, including 7 invention patents, 60 utility model patents, and 34 design patents[72]. Operational Efficiency and Management - The company achieved a production efficiency improvement through a smart manufacturing platform, completing the overall construction of the platform and various software systems, which will significantly enhance production efficiency[61]. - The company maintains a dynamic management system for suppliers, ensuring quality and competitive pricing through a rigorous evaluation process[59]. - The procurement process is structured to ensure timely and quality supply of materials, with a focus on maintaining a stable supplier base[60]. Financial Management and Cash Flow - The company reported a net cash flow from operating activities of -¥29,573,166.98, an improvement of 10.01% compared to -¥32,864,203.66 in the previous year[25]. - Cash flow from investing activities surged by 566.10% to CNY 109,810,977.84, mainly due to reduced expenditures on financial products[87]. - Cash flow from financing activities decreased by 62.41% to CNY -55,048,338.67, primarily due to increased share repurchase and dividend payments[87]. - Net increase in cash and cash equivalents was CNY 25,173,063.67, a 149.90% improvement from the previous period[87]. Risk Management - The management highlighted potential risks including market competition and supply chain disruptions, with strategies in place to mitigate these risks[7]. - The company is facing operational risks due to the COVID-19 pandemic, which may impact performance, but has implemented measures to ensure normal operations[113]. - The company plans to leverage opportunities in smart city initiatives to enhance market penetration and mitigate macroeconomic risks[114]. Shareholder and Corporate Governance - The company has established a stable dividend policy to protect shareholder rights and ensure equal treatment of all shareholders[137]. - The company has commitments from major shareholders, including a lock-up period of 36 months post-IPO, during which they will not transfer or entrust their shares to others[145]. - The company will monitor and ensure compliance with the commitments made by its major shareholders[147]. - The company emphasizes compliance with relevant laws and regulations during the share repurchase and increase commitments[148]. Community Engagement and Social Responsibility - The company emphasizes social responsibility and has actively participated in community support activities, including providing aid to 16 communities during the pandemic[136]. - The company has actively engaged in community volunteer work during the pandemic, contributing to local efforts[140]. - The company is committed to environmental responsibility and has not faced any administrative penalties related to environmental issues during the reporting period[135].

汇中仪表股份有限公司 2022 年第一季度报告全文 证券代码：300371 证券简称：汇中股份 公告编号：2022-016 汇中仪表股份有限公司 2022 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准 确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带 的法律责任。 1 汇中仪表股份有限公司 2022 年第一季度报告全文 (二)非经常性损益项目和金额 √ 适用 □ 不适用 单位：元 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声 明：保证季度报告中财务信息的真实、准确、完整。 3.第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 49,781,847.52 | 55,182,276.78 | ...

Financial Performance - The company's operating revenue for 2021 was CNY 523,536,484.18, representing a 23.12% increase compared to CNY 425,210,340.96 in 2020[31]. - The net profit attributable to shareholders for 2021 was CNY 155,187,831.35, up 22.24% from CNY 126,950,878.87 in the previous year[31]. - The net profit after deducting non-recurring gains and losses was CNY 147,630,739.46, reflecting a 24.28% increase from CNY 118,791,184.47 in 2020[31]. - The total assets at the end of 2021 reached CNY 1,092,663,906.64, a 16.67% increase from CNY 936,570,166.76 at the end of 2020[31]. - The net assets attributable to shareholders increased by 15.11% to CNY 936,896,157.78 from CNY 813,884,515.61 in 2020[31]. - The basic earnings per share for 2021 was CNY 0.9276, which is a 21.57% increase compared to CNY 0.7630 in 2020[31]. - The diluted earnings per share rose by 22.49% to CNY 0.9276 from CNY 0.7573 in the previous year[31]. - The weighted average return on equity for 2021 was 17.79%, an increase from 16.64% in 2020[31]. - The net cash flow from operating activities decreased significantly by 85.73% to CNY 15,306,648.52 from CNY 107,274,515.91 in 2020[31]. - The company reported a total of 7,557,091.89 CNY in non-recurring gains and losses for 2021, with government subsidies contributing 4,541,323.81 CNY[37]. Market Strategy and Expansion - The company aims to increase market share and penetration in new markets by leveraging its brand, quality, and technology advantages in response to macroeconomic fluctuations[9]. - The company is actively exploring overseas markets to reduce the adverse effects of macroeconomic volatility on its operations[9]. - The company plans to gradually release new production capacity based on actual business needs and market conditions to mitigate sales risks[14]. - The company is focused on expanding its smart water and heating management systems through the integration of IoT technologies[25]. - The company plans to enhance its market presence through strategic initiatives aligned with government policies on energy efficiency and environmental sustainability[46]. - The introduction of the dual carbon policy provides significant market opportunities for the heating energy-saving industry, with a focus on enhancing technology R&D and service quality to meet market demands[47]. - The company is addressing risks from the COVID-19 pandemic by ensuring normal operations and providing remote services to clients[176]. - The company is leveraging opportunities in smart city initiatives to mitigate potential impacts from macroeconomic fluctuations[177]. Technological Innovation - The company has invested heavily in technology innovation, achieving full series product compatibility with NB-IoT and offering various wireless transmission methods[11]. - The company is committed to continuous product technology innovation and increasing research and development investments in IoT and big data applications[12]. - The company recognizes the potential risks associated with rapid technological advancements and aims to promote ultrasonic flow measurement technology in the water metering sector[11]. - The company has developed a full range of NB-IoT compatible products, addressing the risk of rapid technological advancements in wireless communication[179]. - The company is focused on developing new products and technologies, including IoT-enabled devices for remote monitoring and management[82]. - The company has completed the development of a SaaS platform for smart water and heating services, enhancing its service capabilities and efficiency[147]. - The company is working on a smart operation and maintenance management platform to reduce operational costs and improve service efficiency[148]. Product Development and Offerings - The company operates in the smart water and heating solutions sector, focusing on ultrasonic heat meters, water meters, and related management systems[41]. - The company provides a complete industrial chain service covering data collection, energy measurement, data analysis, solution design, and energy-saving services, with main products including ultrasonic heat meters, ultrasonic water meters, and ultrasonic flow meters[79]. - The company has launched smart water supply solutions that help identify leaks and improve water resource utilization, significantly enhancing management levels in the water industry[93]. - The company has developed new industrial water solutions, including explosion-proof flow meters and open channel flow meters[120]. - The company has established a service-oriented metering business model, providing comprehensive services including sales, installation, monitoring, and data analysis[131]. Financial Management and Risks - The company emphasizes the importance of maintaining tax incentives and government subsidies, which significantly impact profitability[16]. - The company faces market risks associated with expanded production capacity, particularly if market conditions change unfavorably after the new smart manufacturing workshop is operational[13]. - The company will enhance sales efforts to strengthen its core business and reduce the impact of potential changes in tax incentives or government subsidies[181]. - The company has established a comprehensive internal management structure, ensuring compliance with laws and regulations, and effective internal control processes[192]. - The company has maintained a stable cost of raw materials despite market pressures, ensuring effective cost management[129]. Research and Development - The company reported a research and development investment of 33.55 million yuan, an increase of 23.34% compared to the previous year[112]. - The number of R&D personnel increased to 109 in 2021, up 26.74% from 86 in 2020, with a higher proportion of master's degree holders at 27.59%[149]. - R&D investment amounted to ¥33,554,376.81 in 2021, representing 6.41% of operating revenue, slightly up from 6.40% in 2020[149]. - The company has increased its patent authorizations by 15, including 10 utility model patents and 5 design patents[112]. Customer Engagement and Service - The company has established 11 regional marketing service centers to provide comprehensive lifecycle services from pre-sales to after-sales[108]. - The company aims to enhance customer satisfaction and service quality through the establishment of a customer service center[109]. - The company has adopted a dual sales model combining direct sales and agency sales to cater to diverse customer needs across different industries and regions[104][105].

汇中仪表股份有限公司 2021 年第三季度报告 证券代码：300371 证券简称：汇中股份 公告编号：2021-069 汇中仪表股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准 确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带 的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声 明：保证季度报告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 本报告期比上年同期增 | 年初至报告期末 | 年初至报告期末比上年 | | --- | --- | --- | --- | --- | | | | 减 | | 同期增减 | | 营业收入（元） | 128,018,410.39 | 17.52% | 295,513,584.71 | 13.31% | ...

Financial Performance - The company's operating revenue for the reporting period was ¥167,495,174.32, representing a 10.28% increase compared to ¥151,879,533.08 in the same period last year[30]. - The net profit attributable to shareholders was ¥46,237,403.55, up 15.26% from ¥40,114,924.37 year-on-year[30]. - The net profit after deducting non-recurring gains and losses was ¥41,920,895.22, reflecting a 13.52% increase from ¥36,927,123.94 in the previous year[30]. - The basic earnings per share increased to ¥0.2773, a rise of 13.97% compared to ¥0.2433 in the same period last year[30]. - The total assets at the end of the reporting period were ¥958,251,712.68, which is a 2.31% increase from ¥936,570,166.76 at the end of the previous year[30]. - The net assets attributable to shareholders increased to ¥831,181,701.40, up 2.13% from ¥813,884,515.61 at the end of the previous year[30]. - The company’s international business saw significant growth, with operating revenue reaching 6.62 million yuan, a year-on-year increase of 51.88%[87]. - The company achieved a net increase in cash and cash equivalents of -¥50,447,846.76, an improvement of 24.60% from -¥66,904,389.60 in the same period last year[97]. - The net cash flow from operating activities decreased dramatically by 2,603.59% to -¥32,864,203.66, compared to a positive cash flow of ¥1,312,684.38 in the previous year[97]. Market and Product Development - The company has invested heavily in the development of wireless communication technologies and has achieved full series product compatibility with NB-IoT, including multiple wireless transmission methods[10]. - The demand for intelligent metering instruments is increasing due to national initiatives in new infrastructure and smart cities[10]. - The company is focused on expanding its market presence in various industries, including industrial, water conservancy, petrochemical, thermal power, and steel[39]. - The company aims for smart water meter sales to account for 40% of total water meter sales during the 13th Five-Year Plan period, driven by national policies promoting smart metering[61]. - The company is actively involved in the ongoing promotion of policies such as "one household, one meter" and tiered water pricing to improve water management efficiency[61]. - The company has developed ultrasonic water meters capable of providing multiple data points, including cumulative flow, instantaneous flow, water temperature, and pressure[62]. - The company has successfully integrated NB-IoT technology with ultrasonic flow measurement products, expanding its range of wireless communication technologies[91]. Research and Development - The company invested CNY 15.30 million in R&D during the reporting period, an increase of 83.08% compared to the previous year[73]. - The company holds a total of 94 valid patents, including 6 invention patents, 58 utility model patents, and 30 design patents[74]. - The company has introduced 11 new patent authorizations, including 7 utility model patents and 4 design patents, during the reporting period[75]. - The company has also registered 19 new software copyrights, enhancing its technological capabilities[76]. - The company emphasizes continuous innovation in product technology and has increased R&D investment in IoT and big data applications[124]. Operational Risks and Challenges - The company reported a significant impact on its 2021 performance due to the ongoing COVID-19 pandemic, which may affect various industries globally[7]. - The company faces risks related to rapid technological advancements in communication technologies that may outpace its product development[10]. - The company is at risk of losing tax benefits and government subsidies, which currently play a significant role in its profitability[126]. - The company will gradually release new production capacity based on market conditions to avoid sales risks associated with expanded capacity[125]. Corporate Governance and Shareholder Relations - The company has established a stable dividend policy to protect shareholder rights, ensuring equal treatment for all shareholders and enhancing investor relations management[148]. - The company has implemented employee stock ownership plans, granting a total of 2,682,725 restricted stock units to 119 eligible employees, enhancing talent retention and motivation[85]. - Major shareholders are required to announce any share reductions three trading days in advance[154]. - The company committed to repurchase shares if the stock price remains below the latest audited net asset value for 20 consecutive trading days, with a repurchase price not exceeding 120% of the latest audited net asset value[155]. - The company has established measures to prevent any potential competition from major shareholders and their family members for a period of five years[154]. Social Responsibility and Community Engagement - The company actively participates in social welfare and rural revitalization initiatives, including donations to children's welfare institutions[150]. - The company emphasizes the importance of party building and social responsibility, integrating these efforts into its development strategy to promote healthy growth[147]. - The company provides various welfare benefits to employees, including health check-ups and cultural activities, fostering a supportive work environment[149].

Financial Performance - The company's operating revenue for 2020 was CNY 425,210,340.96, representing an increase of 18.03% compared to CNY 360,263,748.06 in 2019[30]. - The net profit attributable to shareholders for 2020 was CNY 126,950,878.87, up 15.77% from CNY 109,661,099.66 in 2019[30]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 118,791,184.47, reflecting a 16.70% increase from CNY 101,795,101.30 in 2019[30]. - The basic earnings per share for 2020 was CNY 0.7630, an increase of 15.66% compared to CNY 0.6597 in 2019[30]. - The total assets at the end of 2020 were CNY 936,570,166.76, a growth of 13.24% from CNY 827,076,469.40 at the end of 2019[30]. - The net assets attributable to shareholders at the end of 2020 were CNY 813,884,515.61, which is a 13.80% increase from CNY 715,160,604.35 at the end of 2019[30]. - The company generated a net cash flow from operating activities of CNY 107,274,515.91 in 2020, up 7.55% from CNY 99,747,784.94 in 2019[30]. - The total operating revenue for 2020 was CNY 425,210,340.96, representing an 18.03% increase from CNY 360,263,748.06 in 2019[114]. - Revenue from ultrasonic water meters and systems reached CNY 217,353,854.14, accounting for 51.12% of total revenue, with a year-on-year growth of 55.65%[114]. - The total operating cost for 2020 was CNY 197,441,872.91, an increase of 28.64% from CNY 153,479,253.41 in 2019[119]. Dividend Policy - The company reported a profit distribution plan, proposing a cash dividend of 2.3 RMB per 10 shares based on a total of 167,002,520 shares[19]. - The company reported a cash dividend of ¥38,410,579.60 in 2020, with a total of ¥158 million in cash dividends since its IPO in 2014[97]. - The total distributable profit for the year was 126,950,878.87 RMB, with the cash dividend constituting 100% of the profit distribution[175]. - The company has maintained a consistent cash dividend policy over the past three years, with cash dividends of 30.45% and 29.40% of net profit in 2019 and 2018, respectively[176]. - The cash dividend distribution is aimed at enhancing stock liquidity and rewarding shareholders for their investment[175]. Innovation and R&D - The company emphasizes the importance of innovation in technology development, with significant investments in IoT, big data applications, and wireless communication technologies[14]. - The company has invested significantly in R&D for low-power wide-area network (LPWA) technology, achieving compatibility with NB-IoT across all products[43]. - The company has established several R&D platforms, including the Hebei Provincial Enterprise Technology Center and the Hebei Provincial Ultrasonic Flow Measurement Technology Engineering Laboratory[83]. - The company’s R&D investment reached 27.2 million yuan, a growth of 69.5% year-on-year, with 18 new patent authorizations obtained during the reporting period[83]. - The company is focusing on integrating IoT technology and big data applications into its product design and manufacturing processes[82]. Market Strategy and Expansion - The company plans to leverage opportunities in smart city initiatives to enhance market penetration and maintain its competitive edge[11]. - The company aims to transform from product-based manufacturing to service-oriented manufacturing as part of its strategic upgrade[39]. - The company is focusing on the integration of NB-IoT technology to enhance its product offerings in the smart metering sector[23]. - The company plans to expand its market presence through the development of smart water and heating solutions utilizing ultrasonic measurement technology[23]. - The company aims to deepen its market presence and enhance governance structures to ensure sustainable growth[111]. Compliance and Governance - The company is committed to maintaining compliance with tax incentives and government subsidies, which significantly impact its profitability[18]. - The company has fulfilled all commitments made by its actual controllers and shareholders during the reporting period[177]. - The company’s cash dividend policy ensures that minority shareholders have the opportunity to express their opinions and that their rights are adequately protected[174]. - The company has established a mechanism to adjust the number of shares to be repurchased in case of stock dividends or other equity changes[182]. - The company will not provide financial assistance or guarantees for loans related to equity incentive plans[183]. Operational Efficiency - The production department has completed the overall construction of the smart manufacturing platform, significantly improving production efficiency through intelligent forecasting and special contracts[53]. - The company has established 11 regional marketing service centers to provide comprehensive lifecycle services from pre-sales to after-sales, enhancing customer satisfaction[58]. - The company aims to enhance operational efficiency and customer satisfaction through the deployment of new technologies and products[88]. - The company will fully implement an ERP-based information management system in 2021 to enhance efficiency and quality, aiming for standardized, modular, and intelligent operations[156]. - The company has made significant progress in integrating IoT technology into its products, enhancing smart water management capabilities[124]. Market Trends and Industry Outlook - The smart water meter market in China is expected to achieve a sales revenue proportion of 40% of total water meter sales during the 13th Five-Year Plan period[66]. - The implementation of policies such as "one household, one meter" and "three supplies and one industry" is driving rapid growth in the demand for smart water meters in China[66]. - The global smart water meter market has a positive growth outlook, with significant investments in urban water supply infrastructure in countries like Japan, Singapore, and China[65]. - The domestic smart water meter market is benefiting from national policy support and the development of smart water management systems[66]. - The traditional flow meter market faces challenges due to low accuracy and high maintenance, while the mainstream products are now segment-type and insertion-type flow meters, which offer shorter construction periods and lower costs[67]. Risk Management - The company is facing risks related to the impact of the COVID-19 pandemic on its operations, with potential effects on 2021 performance[7]. - The company acknowledges the risk of macroeconomic fluctuations affecting market demand for its products, which are closely tied to national infrastructure investments[10]. - The company has implemented measures to manage production capacity expansion risks, ensuring gradual release of new capacity based on market conditions[16]. - The company is committed to ongoing research and development to maintain its leadership position in the industry[84]. - The company recognizes the growing market potential of traditional measurement industries due to the activation of massive data generated[147].