证券代码：300421 证券简称：力星股份 江苏力星通用钢球股份有限公司 投资者关系活动记录表 编号：2022-006 | --- | --- | --- | |----------------|--------------------------------|--------------------------------------------------------------| | | ☑ | 特定对象调研 □分析师会议 | | | | □媒体采访 □业绩说明会 | | 投资者关系活动 | | □新闻发布会 □路演活动 | | 类别 | □现场参观 | | | | □其他 | （请文字说明其他活动内容） | | 参与单位名称及 | 国泰君安 | 徐乔威、曾大鹏 | | 人员姓名 | 安信基金 | 蓝雁书、曾博文、陈 鹏 | | 时 间 | 2022 年 11 月 2 | | | 地 点 | 线上电话会议形式 | | | 上市公司接待 | 副总经理 赵高明 | | | 人员姓名 | 董事会秘书 | 张邦友 | | | 一、近况介绍 | | | | | 今年整体业绩平稳，逐步向好，公司新能源车用球和滚子产 ...

Financial Performance - The company's revenue for Q3 2022 was ¥235,148,089.84, representing a decrease of 6.76% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2022 was ¥10,404,914.63, down 55.13% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥6,077,968.04, a decline of 72.62% compared to the previous year[5] - The basic earnings per share for Q3 2022 was ¥0.0409, a decrease of 57.40% year-on-year[5] - The company reported an operating profit of approximately 42.96 million RMB, down 58.32% from 103.09 million RMB in the previous period[23] - The net profit for Q3 2022 was CNY 40,278,085.01, a decrease of 53.0% compared to CNY 85,735,661.98 in the same period last year[24] - The total comprehensive income for Q3 2022 was CNY 44,552,415.21, down from CNY 85,430,845.91 year-over-year[24] - The company’s basic earnings per share for Q3 2022 was CNY 0.1628, down from CNY 0.3539 in the previous year[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,740,238,761.84, an increase of 3.19% from the end of the previous year[5] - Total liabilities as of September 30, 2022, were approximately 487.12 million RMB, compared to 454.52 million RMB at the beginning of the year[21] - The company’s equity attributable to shareholders was approximately 1.25 billion RMB, an increase from 1.23 billion RMB at the beginning of the year[21] - As of September 30, 2022, total assets amounted to approximately 1.74 billion RMB, an increase from 1.69 billion RMB at the beginning of the year[20][21] Cash Flow - Cash flow from operating activities showed a net outflow of ¥24,609,947.24, a significant decline of 160.43% compared to the previous year[5] - Operating cash flow for the period was negative at CNY -24,609,947.24, compared to a positive CNY 40,726,815.69 in the previous year[25] - Cash and cash equivalents decreased to approximately 94.15 million RMB from 138.01 million RMB at the beginning of the year[20] - Cash and cash equivalents at the end of Q3 2022 were CNY 93,708,459.16, a decrease from CNY 156,569,017.47 at the end of the previous year[26] - The company reported cash inflows from financing activities of CNY 310,000,000.00, an increase from CNY 173,632,900.00 in the same period last year[26] Shareholder Information - Total number of common shareholders at the end of the reporting period is 13,792[12] - The largest shareholder, Shi Xianggui, holds 22.47% of shares, totaling 55,633,396 shares[12] - The second-largest shareholder, Shi Yanfang, holds 3.58% of shares, totaling 8,868,000 shares[12] - The top ten shareholders include various investment funds and banks, indicating a diverse shareholder base[13] - The company has no preferred shareholders as per the report[14] - The report indicates that there are no shareholders involved in margin trading[13] - The company has a significant portion of shares held under lock-up agreements, primarily for executives[15] Investments and Future Plans - The company plans to raise up to 350 million RMB through a private placement of A-shares to enhance core competitiveness and profitability, funding projects for 6,000 tons of precision rolling bodies and 8 million high-end large rolling bodies[17] - The company has approved an investment of 100 million RMB to establish a wholly-owned subsidiary, Jiangsu Lichuang Precision Ceramics Co., Ltd., aimed at promoting product transformation and upgrading, and reducing reliance on imports in key industries[18] Operating Costs and Expenses - Operating costs for the current period were approximately 670.94 million RMB, an increase of 1.12% from 659.20 million RMB in the previous period[23] - The company incurred operating expenses of CNY 479,227,625.42, which is higher than CNY 405,521,117.30 in the previous year[25] - Research and development expenses increased to approximately 44.09 million RMB, compared to 37.71 million RMB in the previous period, reflecting a focus on innovation[23] - The company’s income tax expense for Q3 2022 was CNY 2,930,360.31, down from CNY 17,060,554.38 in the same period last year[24] Foreign Exchange and Other Activities - The company experienced a 1502.27% increase in foreign currency translation differences, amounting to ¥4,274,330.20, due to exchange rate fluctuations[9] - The company experienced a foreign exchange loss of CNY 1,355,119.84 during the quarter, compared to a loss of CNY -2,485,641.64 in the previous year[26] - The company reported a 65.85% increase in cash received from other operating activities, totaling ¥22,332,564.42[9]

Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥472.53 million, a decrease of 5.42% compared to ¥499.59 million in the same period last year[19]. - The net profit attributable to shareholders was approximately ¥29.87 million, down 52.24% from ¥62.55 million year-on-year[19]. - Basic earnings per share decreased by 52.97% to ¥0.1203 from ¥0.2558 in the same period last year[19]. - The company reported a significant decrease in net profit after deducting non-recurring gains and losses, which was approximately ¥26.64 million, down 50.27% from ¥53.57 million year-on-year[19]. - The total operating revenue for the first half of 2022 was CNY 472.53 million, a decrease of 5.4% compared to CNY 499.59 million in the same period of 2021[173]. - The net profit for the first half of 2022 was CNY 29.87 million, down 52.2% from CNY 62.55 million in the first half of 2021[174]. - The total comprehensive income attributable to the parent company was CNY 31.89 million, down 48.6% from CNY 62.07 million in the previous year[175]. - The company's total assets as of June 30, 2022, were CNY 1.73 billion, an increase from CNY 1.70 billion at the beginning of the year[171]. - The total liabilities increased to CNY 575.31 million, compared to CNY 534.03 million at the beginning of the year, reflecting a rise of 7.7%[172]. Cash Flow and Investments - The net cash flow from operating activities was negative at approximately ¥65.57 million, a decline of 419.52% compared to a positive cash flow of ¥20.52 million in the previous year[19]. - The net cash flow from operating activities was -¥65,568,671.23, a decline of 419.52% compared to the previous year, mainly due to increased VAT payments[53]. - The total cash inflow from financing activities reached 390,000,000.00 RMB, significantly up from 133,833,994.38 RMB in the previous year, indicating a strong increase in financing efforts[183]. - The company reported a net cash flow from investment activities of 32,162,056.82 RMB, a recovery from a negative cash flow of -20,141,209.23 RMB in the first half of 2021[183]. - The total cash and cash equivalents at the end of the period decreased to 101,460,789.89 RMB from 133,330,525.62 RMB at the end of the previous year[183]. Research and Development - Research and development expenses increased by 79.32% to ¥43,666,851.18, primarily due to an increase in R&D projects[53]. - The company has allocated 2.3 million yuan for research and development in new technologies[190]. - The company has developed the G3 grade high-precision micro ball, marking the first large-scale production of this upgraded product in China[86]. Market and Industry Trends - The global bearing rolling body industry is experiencing a clear trend towards specialization and scale production, which is essential for reducing production costs and meeting increasing precision and performance requirements[28]. - The demand for high-end precision rolling bodies is expected to increase, driven by national policies aimed at improving the localization rate of key mechanical components during the 14th Five-Year Plan period[29]. - Major international bearing manufacturers account for over 70% of the global market share, making long-term partnerships with these clients crucial for the sustainable development of rolling body enterprises[30]. Operational Efficiency and Management - The company has implemented a digital management platform for production, ensuring precise traceability of quality issues and improving production efficiency[48]. - The company has established long-term stable relationships with major suppliers such as Baosteel and CITIC Pacific, resulting in stable procurement prices for special steel, particularly bearing steel[43]. - The company has a strong customer base, including global manufacturers like SKF and NTN, ensuring a stable demand for its products[47]. Corporate Governance and Social Responsibility - The company adheres to legal requirements and improves its corporate governance structure to protect shareholder rights[109]. - The company actively engages in social responsibility, focusing on creating value for shareholders, employees, customers, and society[108]. - The company has implemented environmental monitoring measures, including 24-hour online monitoring of COD, ammonia nitrogen, and pH levels[106]. Shareholder Information - The company distributed a cash dividend of RMB 1.5 per 10 shares, totaling RMB 37,137,810.60, based on a total share capital of 247,585,404 shares[110]. - The total number of ordinary shareholders at the end of the reporting period was 16,931[152]. - The largest shareholder, Shi Xianggui, holds 22.47% of the shares, totaling 55,633,396 shares[153]. Future Outlook - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[176]. - The management provided a cautious outlook for the second half of 2022, anticipating potential challenges in the market environment[188]. - The company aims to enhance operational efficiency through strategic partnerships and potential acquisitions in the upcoming quarters[190].

Financial Performance - Revenue for Q1 2022 was CNY 231,080,010.40, a decrease of 5.89% compared to CNY 245,532,325.21 in the same period last year[3] - Net profit attributable to shareholders was CNY 12,224,427.07, down 63.52% from CNY 33,508,380.17 year-over-year[3] - Basic earnings per share decreased by 63.49% to CNY 0.0494 from CNY 0.1353 in the previous year[3] - Total operating revenue for the current period was ¥231,080,010.40, a decrease of 5.9% from ¥245,532,325.21 in the previous period[21] - Net profit for the current period was ¥12,224,427.07, down 63.5% from ¥33,508,380.17 in the previous period[22] - The total comprehensive income for the first quarter was CNY 13,496,021.51, a decrease of 61.5% compared to CNY 35,012,785.17 in the previous period[23] - Basic and diluted earnings per share were CNY 0.0494, down from CNY 0.1353 in the same period last year, representing a decline of 63.5%[23] Cash Flow - Net cash flow from operating activities was negative CNY 71,019,790.80, a decline of 346.75% compared to CNY 28,781,737.93 in the same period last year[3] - Total cash inflow from operating activities was CNY 162,381,198.01, down 47% from CNY 306,411,237.33 in the previous year[26] - Cash outflow from operating activities totaled CNY 233,400,988.81, a decrease of 15.9% compared to CNY 277,629,499.40 in the previous year[26] - Cash flow from investing activities was negative CNY 8,297,779.85, an improvement from negative CNY 31,809,920.54 in the previous year[27] - Cash flow from financing activities showed a net inflow of CNY 18,232,322.10, compared to a net outflow of CNY 27,854,745.80 in the previous year[27] - The ending balance of cash and cash equivalents was CNY 73,639,404.84, down from CNY 146,917,916.06 in the previous year[27] - The company received CNY 40,000,000.00 from borrowings, a decrease from CNY 50,000,000.00 in the previous year[27] Assets and Liabilities - Total assets at the end of the period were CNY 1,687,772,338.87, a slight increase of 0.08% from CNY 1,686,365,697.97 at the end of the previous year[3] - Current assets totaled ¥795,702,771.63, showing a marginal decrease from ¥796,153,247.53[18] - Total liabilities decreased to ¥440,271,994.69 from ¥454,515,522.84, a reduction of 3.1%[19] - The company’s equity attributable to shareholders increased to ¥1,247,500,344.18 from ¥1,231,850,175.13, an increase of 1.3%[19] Shareholder Information - The total number of common shareholders at the end of the reporting period is 14,827[12] - The largest shareholder, Shi Xianggui, holds 22.47% of shares, totaling 55,633,396 shares[12] - The top 10 shareholders hold a significant portion of shares, with the top three alone accounting for over 28%[12] - The total number of restricted shares at the beginning of the period was 61,883,378, with 2,172,500 shares released during the period, leaving 59,710,878 restricted shares[14] Strategic Initiatives - The company plans to raise up to 35 million RMB through a private placement of A-shares for projects including an annual production of 6,000 tons of precision rolling bodies[15] - The company is focusing on enhancing its core competitiveness and profitability through strategic funding initiatives[15] - The company has a clear plan for expanding production capacity with specific projects outlined for funding[15] - The report indicates that the company is actively managing its shareholder structure and equity incentives[14] Other Financial Information - Financial expenses increased by 158.95% to CNY 2,709,112.69, primarily due to increased interest expenses and exchange rate differences[9] - The company reported a government subsidy of CNY 1,752,774.59, a decrease of 77.57% compared to CNY 7,815,673.39 in the previous year[9] - Research and development expenses rose to ¥15,411,065.33, compared to ¥11,892,330.75, marking an increase of 29.5%[22] - The company reported a tax expense of ¥2,410,608.63, down from ¥6,391,680.46, a decrease of 62.3%[22] - The company did not conduct an audit for the first quarter report[29]

Financial Performance - The company's operating revenue for 2021 was CNY 973,904,660.69, representing a 23.69% increase compared to CNY 787,351,854.35 in 2020[16]. - The net profit attributable to shareholders for 2021 was CNY 90,330,808.06, a 49.06% increase from CNY 60,599,891.85 in 2020[16]. - The net profit after deducting non-recurring gains and losses was CNY 79,736,646.32, up 39.25% from CNY 57,261,237.88 in 2020[16]. - The basic earnings per share for 2021 was CNY 0.3726, an increase of 47.27% compared to CNY 0.2530 in 2020[16]. - The total assets at the end of 2021 were CNY 1,686,365,697.97, reflecting a 13.27% increase from CNY 1,488,849,291.80 at the end of 2020[16]. - The net assets attributable to shareholders at the end of 2021 were CNY 1,231,850,175.13, a 6.45% increase from CNY 1,157,180,588.20 at the end of 2020[16]. - The net cash flow from operating activities for 2021 was CNY 20,546,581.28, a decrease of 76.37% compared to CNY 86,968,837.46 in 2020[16]. - The weighted average return on equity for 2021 was 7.55%, up from 5.37% in 2020[16]. Revenue Breakdown - The company's total revenue for Q1 was ¥245.53 million, Q2 was ¥254.06 million, Q3 was ¥252.21 million, and Q4 was ¥222.11 million, showing a decline in Q4 compared to previous quarters[18]. - Net profit attributable to shareholders for Q1 was ¥33.51 million, Q2 was ¥29.04 million, Q3 was ¥23.19 million, and Q4 dropped significantly to ¥4.60 million[18]. - The revenue from bearing manufacturing accounted for 98.89% of total revenue, with a year-on-year increase of 23.10%[57]. - The sales of roller products reached 50.88 million yuan, representing a growth of 51.29% year-on-year[49]. Research and Development - In 2021, the company's R&D investment reached CNY 50.14 million, a year-on-year increase of 34.58%, with 19 patents applied for, including 9 invention patents[53]. - The company has a total of 136 patents, including 46 invention patents, showcasing its strong innovation capabilities in precision bearing steel ball technology[43]. - The company is developing a non-destructive testing process for 10MW offshore wind power steel balls to enhance product quality and meet stringent industry standards[72]. - The company has developed an intelligent cleaning and packaging technology for high-end bearing steel balls, significantly improving production efficiency and reducing labor intensity[73]. Market Position and Strategy - The company is focusing on high-end precision rolling body production, which is expected to see increased market demand and concentration due to rising quality standards from major clients[26]. - The global bearing industry is dominated by eight major manufacturers, which hold over 70% of the market share, creating significant barriers for new entrants[32]. - The company aims to optimize technical parameters for rolling bodies to meet the specific requirements of various downstream markets, enhancing its market share in niche segments[28]. - The company is a leading domestic enterprise in the precision bearing steel ball sector, with sales revenue ranking first in China for several consecutive years[42]. Environmental and Social Responsibility - The company has implemented a wastewater treatment facility with a design capacity of 400 tons per day, ensuring compliance with environmental standards[173]. - The total annual discharge of chemical oxygen demand (COD) was reported at 23.59 tons, which is below the regulatory limit of 85.18 tons[172]. - The company has established an emergency response plan for environmental incidents, which has been filed with local environmental authorities[175]. - The company donated 250,000 RMB to the municipal charity foundation, demonstrating its commitment to social responsibility and community support[191]. Corporate Governance - The company held 8 board meetings and 4 shareholder meetings during the reporting period, ensuring compliance with legal and regulatory requirements[118]. - The company disclosed 98 announcements in 2021, maintaining timely and accurate information disclosure[119]. - The company emphasized investor relations management, conducting online performance briefings and on-site research activities[119]. - The company maintains an independent procurement and sales system, ensuring that the selection of raw material suppliers is based on a homogeneous comparison principle[123]. Future Outlook - The company plans to establish an intelligent manufacturing laboratory and a professional team to achieve partial automation in manufacturing processes within five years and full digitalization within ten years[108]. - The company aims to cultivate a young talent pool and enhance its workforce through internal training and external recruitment, focusing on automation and information technology skills[109]. - The company faces risks related to potential underperformance in sales growth due to market conditions and customer demand fluctuations[110]. - The company is investing in new projects, including a new production line for precision conical rollers with an annual capacity of 16,000 tons, which is expected to enhance profitability[110].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 252,205,713.20, representing a 21.50% increase year-over-year, and a total revenue of CNY 751,797,703.27 for the year-to-date, up 37.98% compared to the same period last year[3] - Net profit attributable to shareholders for Q3 2021 was CNY 23,190,446.56, a 26.79% increase year-over-year, with a year-to-date net profit of CNY 85,735,661.98, reflecting a significant increase of 119.78%[3] - The basic earnings per share for Q3 2021 was CNY 0.096, up 27.32% year-over-year, while the diluted earnings per share was CNY 0.095, an increase of 25.99%[3] - Total operating revenue for Q3 2021 reached ¥751,797,703.27, an increase of 38.0% compared to ¥544,844,860.99 in the same period last year[21] - Net profit for Q3 2021 was ¥85,735,661.98, representing a significant increase of 120.5% compared to ¥39,009,673.33 in Q3 2020[22] - Basic earnings per share for the period was ¥0.3539, compared to ¥0.1609 in the previous year[23] Assets and Liabilities - The company's total assets at the end of Q3 2021 were CNY 1,635,896,494.46, a 9.88% increase from the end of the previous year[3] - Total assets as of the end of Q3 2021 amounted to ¥1,635,896,494.46, up from ¥1,488,849,291.80 at the end of Q3 2020[19] - The company's total liabilities increased significantly, with notes payable rising by 333.33% to CNY 52,000,000.00, attributed to increased material procurement[7] - Total liabilities increased to ¥412,539,438.72 from ¥331,668,703.60 year-over-year, reflecting a rise of 24.4%[19] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 40,726,815.69, reflecting an 11.40% increase compared to the previous year[3] - The company's cash flow from operating activities for the period was ¥407,912,033.32, compared to ¥399,580,079.45 in the previous year[25] - The net cash flow from operating activities for Q3 2021 was ¥40,726,815.69, an increase from ¥36,558,056.16 in Q3 2020, representing an increase of approximately 5.9%[26] - Total cash inflow from operating activities was ¥446,247,932.99, compared to ¥414,509,968.71 in the same period last year, indicating a growth of about 7.6%[26] - The cash outflow from operating activities totaled ¥405,521,117.30, up from ¥377,951,912.55, reflecting an increase of approximately 7.3%[26] Research and Development - Research and development expenses for Q3 2021 amounted to CNY 37,708,128.89, a 39.72% increase compared to the same period last year, indicating a focus on innovation[8] - Research and development expenses for Q3 2021 were ¥37,708,128.89, an increase from ¥26,989,140.06 in the same quarter last year[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 10,474[11] - The largest shareholder, Shi Xianggui, holds 22.47% of the shares, totaling 55,633,396 shares[11] - The total number of restricted shares at the end of the period is 61,883,378, with 5,127,250 shares newly restricted during the period[13] - The company has a total of 56,919,928 restricted shares at the beginning of the period, with 163,800 shares released[13] Government Support and Other Income - The company received government subsidies totaling CNY 10,379,678.61 year-to-date, which is a 213.68% increase compared to the previous year, contributing positively to other income[8] - The company reported a total of ¥10,379,678.61 in other income, up from ¥3,308,969.98 year-over-year[22] Inventory and Accounts Receivable - Accounts receivable increased to ¥325,269,370.81 from ¥266,511,220.41 year-over-year[17] - Inventory has risen to ¥231,298,835.85 compared to ¥189,087,248.50 at the end of 2020[17] Cash and Cash Equivalents - The company's cash and cash equivalents as of September 30, 2021, amount to ¥160,849,017.47, a decrease from ¥178,358,177.41 at the end of 2020[17] - The ending balance of cash and cash equivalents was ¥156,569,017.47, a decrease from ¥91,812,059.71 in Q3 2020[27] Tax Refunds - The company’s cash received from tax refunds increased by 108.35% to CNY 24,870,457.62, mainly due to export tax rebates[9] - The company received tax refunds amounting to ¥24,870,457.62, compared to ¥11,936,726.75 in the same quarter last year, indicating an increase of approximately 108.5%[26] Investment and Financing Activities - The net cash flow from investing activities was -¥35,935,584.86, worsening from -¥33,221,733.23 year-over-year[27] - Cash inflow from financing activities was ¥173,632,900.00, down from ¥350,000,000.00 in Q3 2020, a decrease of about 50.5%[27] - The net cash flow from financing activities was -¥24,094,749.13, compared to -¥26,965,371.86 in the previous year, showing an improvement of approximately 10.6%[27] Audit Information - The company did not undergo an audit for the Q3 2021 report[28]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥499,591,990.07, representing a 48.13% increase compared to ¥337,270,180.86 in the same period last year[19]. - The net profit attributable to shareholders was ¥62,545,215.43, a significant increase of 201.88% from ¥20,718,658.36 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was ¥53,566,951.97, up 188.61% from ¥18,560,408.72 year-on-year[19]. - The basic earnings per share rose to ¥0.2558, reflecting a 199.88% increase compared to ¥0.0853 in the same period last year[19]. - The total operating revenue for the first half of 2021 reached ¥499,591,990.07, a significant increase of 48.1% compared to ¥337,270,180.86 in the same period of 2020[174]. - Operating profit for the first half of 2021 was ¥70,610,247.24, up 174.4% from ¥25,742,516.03 in the first half of 2020[176]. - Net profit for the first half of 2021 was ¥62,545,215.43, representing a 201.5% increase from ¥20,718,658.36 in the same period of 2020[176]. - Research and development expenses increased to ¥24,351,844.54 in the first half of 2021, up 53.1% from ¥15,911,448.23 in the same period of 2020[176]. - Total operating costs for the first half of 2021 were ¥439,106,190.24, an increase of 40.0% from ¥314,025,288.83 in the first half of 2020[176]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,544,685,401.00, a 3.75% increase from ¥1,488,849,291.80 at the end of the previous year[19]. - The net assets attributable to shareholders increased to ¥1,198,196,404.88, marking a 3.54% rise from ¥1,157,180,588.20 at the end of the previous year[19]. - The company's total liabilities increased to CNY 346,488,996.12 from CNY 331,668,703.60, reflecting a growth of about 4.7%[168]. - The company's total assets at the end of the reporting period were 1,128,229,000 CNY, up from 1,070,629,400 CNY, marking an increase of about 5.4%[196]. - Current liabilities rose to CNY 300,625,230.91, compared to CNY 286,467,109.91, indicating an increase of about 4.0%[168]. - Non-current assets totaled CNY 806,028,428.23, up from CNY 755,474,411.06, reflecting an increase of approximately 6.7%[167]. Investments and Projects - The company is advancing projects such as the "6000 tons precision rolling body project" and "8 million high-end large rolling body expansion project" to enhance production capacity[43]. - The company has committed to a new project with an annual production capacity of 16,000 tons of precision tapered rollers, with a total investment of approximately 27,686.79 million RMB[65]. - The JGBR Americas subsidiary's project for an annual production of 8,000 tons of bearing steel balls has a total investment of 25 million USD (approximately 16,234 million RMB)[67]. - The company acquired 100% equity of Fenghua Jinyan Steel Ball Co., Ltd. for 11,200 million RMB, which is expected to enhance its technological capabilities in the micro ball sector[66]. - The company has established a wholly-owned subsidiary in South Carolina, USA, to build a bearing steel ball production base[88]. Market and Industry Trends - The global steel ball industry is witnessing a clear trend towards specialization and scale production, with major bearing manufacturers divesting their steel ball production departments[27]. - The market concentration for high-end precision steel balls is expected to increase, driven by the demand for high-value precision rolling elements during the "14th Five-Year Plan" period[28]. - High-quality downstream customers will be crucial for the sustainable development of steel ball enterprises, with the top eight multinational bearing manufacturers accounting for over 60% of the global market share[29]. - R&D and technological improvements are becoming core competitive advantages for steel ball manufacturers, as they seek to enhance product performance and expand market space[30]. Cash Flow and Financial Management - The net cash flow from operating activities decreased by 40.98% to ¥20,520,925.02, attributed to a reduction in cash received from sales[46]. - The net increase in cash and cash equivalents was -¥28,847,279.87, a significant decline of 1,406.81% compared to the previous period[46]. - The total cash and cash equivalents at the end of the period were ¥149,510,897.54, down from ¥178,358,177.41 at the beginning of the period[184]. - The company received ¥100,000,000.00 in borrowings during the first half of 2021, compared to ¥290,000,000.00 in the same period of 2020[184]. Environmental and Social Responsibility - The company has committed to environmental protection and sustainable development, ensuring compliance with national standards for wastewater and hazardous waste management[108]. - The company has established wastewater treatment facilities with a design capacity of 400 tons per day for its main production site[101]. - The company has implemented an environmental self-monitoring plan, with online monitoring of COD, ammonia nitrogen, and pH conducted 24/7[103]. - The company has actively engaged in social responsibility initiatives, including a donation of RMB 67,940 during the reporting period[112]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[94]. - The company held its annual general meeting on April 30, 2021, with an investor participation rate of 38.49%[92]. - The company has implemented a restricted stock incentive plan approved by the shareholders, with the first grant date set for January 18, 2021[95][97]. - The company did not experience any major litigation or arbitration matters during the reporting period[121]. - There were no significant non-operating fund occupations by controlling shareholders or related parties during the reporting period[116].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥499,591,990.07, representing a 48.13% increase compared to ¥337,270,180.86 in the same period last year[19]. - The net profit attributable to shareholders of the listed company reached ¥62,545,215.43, a significant increase of 201.88% from ¥20,718,658.36 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was ¥53,566,951.97, up 188.61% from ¥18,560,408.72 year-on-year[19]. - The basic earnings per share increased to ¥0.2558, a rise of 199.88% compared to ¥0.0853 in the same period last year[19]. - The diluted earnings per share also saw an increase to ¥0.2509, reflecting a 194.14% growth from ¥0.0853[19]. - The company's total assets at the end of the reporting period were ¥1,544,685,401.00, up 3.75% from ¥1,488,849,291.80 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased to ¥1,198,196,404.88, a growth of 3.54% from ¥1,157,180,588.20[19]. - The net cash flow from operating activities was ¥20,520,925.02, which represents a decrease of 40.98% compared to ¥34,768,343.04 in the same period last year[19]. Strategic Developments - The company completed the acquisition of 100% equity in Jinyan Steel Ball, which will enhance its technology and experience in the micro ball field, significantly strengthening its market position in the bearing steel ball sector[27]. - The company has established a strategic cooperation agreement with Baosteel Special Steel, ensuring stable supply and favorable pricing for bearing steel materials[39]. - The company is focusing on continuous R&D and technological improvements to enhance product performance, which is essential for expanding market share and strengthening customer relationships[30]. - The company is actively developing new products and technologies, including micro-ball production and ceramic ball projects[44]. - The company has initiated the development of G3 and G5 grade high-precision small and micro balls, with successful testing completed at the National Bearing Quality Supervision and Inspection Center[86]. Market Position and Industry Trends - The company is a leading domestic enterprise in the precision bearing steel ball sector, focusing on the R&D, production, and sales of precision bearing rolling elements, including steel balls and rollers, with product diameters ranging from 1.588mm to 100mm and precision grades from G3 to G60[26]. - The domestic steel ball industry is expected to see an increase in market concentration for high-end precision steel balls, driven by rising demand for high-value-added precision rolling elements during the 14th Five-Year Plan period[28]. - The global demand for high-precision steel balls is expected to grow, leading to a shift in market demand towards large-scale steel ball production enterprises[28]. - The company is the only domestic steel ball enterprise included in the global procurement system of the world's top eight multinational bearing manufacturers, indicating its strong competitive advantage in the high-end bearing steel ball market[34]. - The company has established long-term stable relationships with major global customers, including SKF Group, which is crucial for sustainable development in the steel ball industry[29]. Research and Development - The company holds 150 patents, including 42 invention patents, and is recognized as a "National High-tech Enterprise" and a "Key High-tech Enterprise of the National Torch Program"[33]. - Research and development expenses increased by 53.05% to ¥24,351,844.54, attributed to the expansion of R&D projects[46]. - The company has completed 10 patent applications in the first half of the year, including 5 invention patents and 5 utility model patents[44]. Environmental and Social Responsibility - The company has implemented an environmental self-monitoring plan, with online monitoring of COD, ammonia nitrogen, and pH levels, ensuring continuous compliance[102]. - The company actively engages in social responsibility initiatives, promoting environmental protection and community welfare[104]. - The company organized social welfare activities, including a donation of 67,940 RMB to support employees in need during the first half of the year[111]. Shareholder and Capital Structure - The total number of shares increased from 242,465,404 to 247,635,404, with a net increase of 5,170,000 shares due to stock incentive plans and repurchases[140]. - The company granted 5,230,000 restricted shares as part of the stock incentive plan, effective from January 26, 2021[141]. - The largest shareholder, Shi Xianggui, holds 22.46% of the shares, totaling 55,633,396 shares[150]. - The company’s shareholding structure remains predominantly domestic, with no foreign holdings reported[140]. Risks and Challenges - The company has outlined potential risks and countermeasures in its management discussion section, which investors should pay attention to[4]. - The company has faced delays in project progress due to high technical requirements and long customer certification cycles, impacting expected benefits[66]. - The COVID-19 pandemic has significantly impacted the company's operations and receivables, with the extent of the impact depending on the progress and duration of pandemic control measures globally[88].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥499,591,990.07, representing a 48.13% increase compared to ¥337,270,180.86 in the same period last year[20]. - The net profit attributable to shareholders was ¥62,545,215.43, a significant increase of 201.88% from ¥20,718,658.36 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥53,566,951.97, up 188.61% from ¥18,560,408.72 year-on-year[20]. - Basic earnings per share dropped by 70.01% to ¥0.2558 from ¥0.853 in the same period last year[20]. - The total amount of raised funds was ¥569,999,984.64, with a net amount of ¥551,209,731.84 after deducting issuance costs[58]. - The company reported a total profit of ¥70,533,274.76, which is an increase of 177.7% from ¥25,347,628.38 in the same period last year[176]. - The total comprehensive income for the first half of 2021 was ¥62,070,195.08, compared to ¥21,542,942.86 in the same period of 2020, reflecting a growth of 187.5%[177]. Cash Flow and Expenses - The company's cash flow from operating activities decreased by 40.98%, amounting to ¥20,520,925.02 compared to ¥34,768,343.04 in the previous year[20]. - Operating costs amounted to ¥381,742,842.91, which is a 43.85% increase compared to the previous year, primarily driven by the rise in sales revenue[46]. - Research and development expenses increased by 53.05% to ¥24,351,844.54, attributed to the expansion of R&D projects[47]. - The company reported a net cash outflow from investing activities of CNY 24,224,700.31, compared to a net outflow of CNY 22,966,206.10 in the previous year[185]. - The total cash outflow from financing activities was CNY 147,078,829.79, compared to CNY 305,923,030.61 in the first half of 2020, indicating a reduction of 51.9%[185]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,544,685,401.00, reflecting a 3.75% increase from ¥1,488,849,291.80 at the end of the previous year[20]. - The total owner's equity increased to CNY 1,198,196,404.88 from CNY 1,157,180,588.20, showing a growth of about 3.5%[169]. - Current liabilities totaled CNY 300,625,230.91, compared to CNY 286,467,109.91, reflecting an increase of about 4.0%[168]. - The company's total liabilities increased to CNY 346,488,996.12 from CNY 331,668,703.60, reflecting a growth of about 4.5%[168]. Market Position and Strategy - The company is a leading domestic enterprise in the precision bearing steel ball sector, focusing on the R&D, production, and sales of precision bearing rolling elements, including steel balls and rollers, with products ranging from 1.588mm to 100mm in nominal diameter and precision grades from G3 to G60[27]. - The company completed the acquisition of 100% equity in Jinyan Steel Ball, which will enhance its technology and experience in the micro ball field, significantly strengthening its leading position in the bearing steel ball market[28]. - Continuous R&D and technological improvements are identified as core competitive advantages, with a focus on enhancing product performance to meet the evolving demands of high-precision bearings[31]. - The company aims to optimize its technical parameters to expand its market share in various downstream segments, reflecting a strategic focus on market diversification[33]. Environmental and Social Responsibility - The company is classified as a key pollutant discharge unit, with total chemical oxygen demand emissions of 27.53 tons, which is below the annual limit of 85.18 tons[100]. - The company has implemented wastewater treatment facilities with a design capacity of 400 tons per day for its main production site[100]. - The company has actively engaged in safety management, conducting training and emergency drills to ensure workplace safety[110]. - The company participated in public welfare activities, demonstrating its commitment to social responsibility[111]. Future Outlook - The company plans to continue investing in new product development and market expansion strategies to drive future growth[197]. - Future guidance indicates a positive outlook for revenue growth, driven by new product launches and market penetration strategies[197].

Financial Performance - The company's operating revenue for Q1 2021 was ¥245,532,325.21, representing a 67.79% increase compared to ¥146,336,413.39 in the same period last year[7] - Net profit attributable to shareholders for Q1 2021 reached ¥33,508,380.17, a significant increase of 380.50% from ¥6,973,640.61 in the previous year[7] - The net profit after deducting non-recurring gains and losses was ¥25,355,985.59, up 408.98% from ¥4,981,697.02 year-on-year[7] - Basic earnings per share for Q1 2021 were ¥0.1353, a 369.79% increase from ¥0.0288 in the previous year[7] - The company reported a net profit of CNY 194,286,544.14, compared to CNY 156,739,301.39 in the previous year, marking an increase of approximately 23.9%[39] - The total comprehensive income for the period was CNY 33,508,380.17, compared to CNY 6,973,640.61 in the previous year, reflecting overall growth in financial health[47] Cash Flow - The net cash flow from operating activities was ¥28,781,737.93, showing a remarkable increase of 1,923.89% compared to ¥1,422,100.56 in the same quarter last year[7] - The net cash flow from operating activities for the first quarter was CNY 22,609,619.05, a significant increase from CNY 2,014,098.02 in the previous year, reflecting a growth of over 1000%[57] - Total cash inflow from operating activities reached CNY 248,664,078.86, compared to CNY 107,281,960.70 in the same period last year, indicating a year-over-year increase of approximately 132%[57] - The company reported a net cash outflow from investing activities of CNY -29,226,235.13, worsening from CNY -4,766,515.52 in the previous year[58] - Cash inflow from financing activities totaled CNY 73,901,100.00, down from CNY 170,000,000.00 in the prior year, representing a decrease of about 56.5%[55] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,477,647,629.91, a slight decrease of 0.75% from ¥1,488,849,291.80 at the end of the previous year[7] - The total liabilities decreased to CNY 328,466,572.98 from CNY 371,068,266.23, a reduction of about 11.4%[42] - Current liabilities decreased to CNY 288,803,975.06 from CNY 329,967,678.63 in the previous period, reflecting a reduction of approximately 12.5%[42] - The company's equity increased to CNY 1,150,796,430.44 from CNY 1,098,897,765.54, representing a growth of about 4.7%[42] Investments and Projects - The company completed the acquisition of 100% equity in Lixing Jinyan, expanding its asset scale and business scope[24] - The company has established a wholly-owned subsidiary in South Carolina, USA, to build a bearing steel ball production base[24] - The company is currently developing several key projects, including non-destructive testing technology for wind power steel balls and specialized steel ball processing for 5G communication[19] - The company is expanding its production capacity with a project aimed at producing 10 billion steel balls annually, with an investment of 5,000 million CNY[28] - The company has committed to a new project with an annual production capacity of 16,000 tons of precision tapered rollers, with an investment reduced from 27,000 million CNY to 15,800 million CNY[28] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,596[10] - The company reported non-recurring gains totaling ¥8,152,394.58, which included government subsidies and other income[8] Risks and Challenges - The company faces risks from macroeconomic fluctuations that could impact market demand and order volumes[21] - The ongoing COVID-19 pandemic poses uncertainties that may affect the company's production and operations[24]