Financial Performance - The company's revenue for Q1 2022 was ¥260,138,604.58, representing a 7.45% increase compared to ¥242,092,911.52 in the same period last year[2] - The net profit attributable to shareholders was -¥16,442,351.15, a decrease of 381.02% from ¥5,850,951.55 in the previous year[2] - Total operating revenue for the first quarter was CNY 260,138,604.58, an increase of 7.5% compared to CNY 242,092,911.52 in the previous year[22] - Net profit for the quarter was a loss of CNY 16,505,807.74, compared to a profit of CNY 5,340,757.63 in the previous year[23] - The total comprehensive income for the period was -14,771,260.42 CNY, compared to 10,719,131.68 CNY in the previous period[24] - Basic and diluted earnings per share were -0.0685 CNY, down from 0.0244 CNY in the previous period[24] Cash Flow - The net cash flow from operating activities was -¥80,533,515.40, a decline of 236.66% compared to -¥23,921,384.24 in the same period last year[8] - Cash inflow from operating activities was 237,114,669.24 CNY, a decrease from 241,902,808.54 CNY in the previous period[27] - Cash outflow from operating activities totaled 317,648,184.64 CNY, compared to 265,824,192.78 CNY in the previous period[28] - Net cash flow from operating activities was -80,533,515.40 CNY, worsening from -23,921,384.24 CNY in the previous period[28] - Net cash flow from investing activities was -6,115,498.48 CNY, compared to -10,581,525.06 CNY in the previous period[28] - Net cash flow from financing activities was -20,690,278.65 CNY, an improvement from -75,660,562.14 CNY in the previous period[28] - The ending balance of cash and cash equivalents was 135,801,245.43 CNY, down from 208,935,037.84 CNY in the previous period[28] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,134,774,306.47, down 2.74% from ¥2,194,869,565.43 at the end of the previous year[3] - Current assets totaled CNY 1,293,791,285.00, down from CNY 1,340,386,645.51 at the start of the year[19] - Total liabilities decreased to CNY 1,404,193,423.22 from CNY 1,449,827,510.01 at the beginning of the year[20] - The company's total equity decreased to CNY 730,580,883.25 from CNY 745,042,055.42 at the beginning of the year[20] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 29,391[10] - The company reported a total shareholding of 19,130,831 shares by Guangzhou Hengmao Venture Capital Partnership, accounting for 7.97% of the total shares[15] - The total number of shares with voting rights held by Guangzhou Hengmao after the transaction is 38,006,770, representing 15.84% of the total voting shares[15] - The company has a total of 29,688,223 restricted shares, which remain unchanged during the reporting period[14] - The company’s major shareholders include individuals with significant holdings, such as 21,965,591 shares held by Bu Fansheng, which are subject to a lock-up period until July 26, 2022[14] - The company has not reported any changes in the number of restricted shares during the current period[14] - The company’s financial report indicates that it is in compliance with the regulations regarding the transfer of control and shareholder agreements[15] - The company’s major shareholders have established relationships that may influence voting rights and decision-making processes[15] - The company has a commitment to maintain a consistent voting approach among its major shareholders[15] - The report indicates that there are no other known relationships among shareholders that could affect control or voting rights[15] Research and Development - Research and development expenses increased by 38.65% to ¥14,805,257.42 from ¥10,677,920.66 year-on-year[7] - Research and development expenses increased to CNY 14,805,257.42, up 38.5% from CNY 10,677,920.66 in the previous year[23] Other Information - The company reported a significant increase in financial expenses by 87.46%, totaling ¥11,460,471.49 compared to ¥6,113,596.13 in the previous year[7] - The company experienced a 620.61% increase in credit impairment losses, amounting to -¥15,521,016.59[8] - The company reported a decrease in sales revenue from 253,596,659.56 CNY to 232,150,369.02 CNY[26] - The company did not undergo an audit for the first quarter report[29] - The company has not disclosed any new strategies or product developments in this quarter's report[17]

Financial Performance - The company's operating revenue for 2021 was ¥1,160,148,829.15, a decrease of 5.19% compared to ¥1,223,635,327.18 in 2020[25]. - Net profit attributable to shareholders was ¥25,531,445.43, a significant increase of 107.81% from a loss of ¥326,972,968.33 in 2020[25]. - The net cash flow from operating activities reached ¥72,981,464.24, representing a 259.13% increase compared to ¥20,321,743.21 in 2020[25]. - The basic earnings per share improved to ¥0.1064 from a loss of ¥1.3631 in the previous year, marking a 107.81% increase[25]. - Total assets at the end of 2021 were ¥2,194,869,565.43, a decrease of 2.42% from ¥2,249,302,744.09 at the end of 2020[25]. - The company's net assets attributable to shareholders increased by 4.88% to ¥733,650,314.75 from ¥699,505,121.86 in 2020[25]. - The company reported a quarterly revenue of ¥326,786,260.30 in Q4 2021, showing a positive trend in the latter part of the year[28]. - The net profit attributable to shareholders in Q4 2021 was ¥9,857,967.10, indicating recovery in profitability[28]. - The company received government subsidies amounting to ¥8,313,528.51 in 2021, slightly up from ¥8,125,831.15 in 2020[32]. - The revenue from aviation maintenance and services decreased by 16.87% to CNY 738,949,186.63, primarily due to the pandemic's impact[65]. - The company's revenue from the aviation manufacturing and services sector was CNY 1,153,037,293, representing a year-on-year decrease of 5.24%[67]. - The gross profit margin for aviation manufacturing and services improved to 32.16%, an increase of 9.06% compared to the previous year[67]. - The gross profit margin for aviation maintenance and services was 24.25%, down 16.87% from the previous year[67]. Market Expansion and Strategy - The company aims to expand its market presence beyond China and Southeast Asia to Europe, the Middle East, and North Africa[43]. - The company is focusing on establishing an international comprehensive maintenance service model to enhance service capabilities[58]. - The company has expanded its aviation maintenance and service market from primarily China and Southeast Asia to Europe and Africa, achieving a full industry chain layout[53]. - The company plans to enhance its competitiveness in airborne equipment through ongoing R&D projects aimed at improving product reliability and functionality[77]. - The company is actively pursuing partnerships and collaborations to enhance its competitive edge in the aerospace technology sector[138]. - The company plans to invest in research and development to support the launch of new products and services in the aerospace industry[138]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 500 million yuan allocated for potential deals[143]. Research and Development - The company has indicated ongoing efforts in research and development, although specific new products or technologies were not detailed in the report[35]. - The company has developed a comprehensive health management system integrating flight status data, component failure data, life prediction, fleet management, and ground operations[36]. - The company is focusing on the development of aviation big data solutions, aiming to create a decision support system for aircraft maintenance based on data analysis[39]. - The company has established a flexible and modular open architecture for its automatic test equipment (ATE), enabling universal testing support for various aircraft types[38]. - The company has completed the development tasks for various airborne equipment for fixed-wing aircraft, helicopters, and drones, enhancing market competitiveness[62]. - The company reported a total of CNY 56,488,349.77 in R&D expenses, an increase of 23.95% year-on-year[76]. - The company's R&D personnel increased to 362 in 2021, a growth of 10.37% compared to 328 in 2020[79]. - R&D investment amounted to ¥79,926,801.71 in 2021, representing 6.89% of operating revenue, up from 5.14% in 2020[79]. Operational Challenges - The company faces risks related to the impact of COVID-19 on the aviation maintenance and service business, which could reduce demand from airline customers[7]. - The company is experiencing an increase in accounts receivable due to business expansion, which may affect cash flow and operational performance[7]. - The company is closely monitoring global pandemic trends and macroeconomic conditions to mitigate operational pressures[7]. - The company’s gross profit margin may decline due to changes in the product structure of its aviation maintenance and service business[7]. - Despite the impact of COVID-19, the domestic aviation maintenance and service business remained stable, with effective measures taken to adjust business structure and control costs[49]. - The global aviation passenger demand in 2021 decreased by 58.4% compared to 2019, but showed improvement compared to 2020, indicating a gradual recovery in the industry[50]. Corporate Governance and Management - The company has maintained transparency in information disclosure, publishing 106 announcements in 2021[126]. - The company emphasizes respect for stakeholders' rights and social responsibility, aiming for a balanced interest among shareholders, employees, and society[128]. - There are no significant discrepancies between the company's governance practices and the regulations set by the China Securities Regulatory Commission[129]. - The company maintains an independent business system, with no overlapping activities with the controlling shareholder[130]. - The management team includes experienced professionals, with terms extending until January 2025 for key positions[135]. - The company has established a robust investor relations management system to enhance communication with investors[128]. - The company has a well-structured organizational framework, with independent operation of internal bodies such as the board of directors and supervisory committee[130]. - The company has established a performance evaluation and incentive mechanism for senior management to align with its development goals[127]. Employee Management and Training - The total number of employees at the end of the reporting period was 1,271, with 284 in the parent company and 987 in major subsidiaries[165]. - The company conducted training for 2,555 employees, accumulating 10,962 hours of training, achieving a 100% training coverage rate[170]. - The company has established a differentiated incentive system to enhance employee motivation and satisfaction[166]. - The company emphasizes a competitive salary strategy, aiming to maintain a leading level in the industry/region[167]. - The company has a total of 506 technical personnel, representing a significant portion of the workforce[165]. Cash Dividend Policy - The company plans to distribute a cash dividend of 0.12 CNY per 10 shares, totaling approximately 2,878,714.31 CNY for the year 2021[176]. - The total distributable profit for the year was reported at 14,994,309.30 CNY, with the cash dividend representing 100% of the profit distribution[174]. - The company has committed to a cash dividend policy, aiming for a minimum of 30% of the average distributable profit over three years (2020-2022) to be returned to investors[173]. - The company has not proposed any stock dividends or capital reserve transfers for the year 2021[176]. Social Responsibility and Environmental Compliance - The company actively complied with environmental protection laws and did not face any administrative penalties during the reporting period[194]. - The company invested CNY 300,000 in a children's care public welfare project in Gansu Province, benefiting 159 targeted families[196]. - The company is committed to balancing economic and social benefits while fulfilling its corporate social responsibilities[195].

Financial Performance - Total revenue for the reporting period reached ¥567,900,639.51, representing a 97.19% increase compared to ¥287,993,745.94 in the same period last year[22]. - Net profit attributable to shareholders was ¥32,822,663.93, a 6.69% increase from ¥30,765,485.37 year-over-year[22]. - The net profit after deducting non-recurring gains and losses was ¥22,956,962.08, up 16.61% from ¥19,686,618.18 in the previous year[22]. - The operating cost increased to RMB 412.11 million, a rise of 127.85% due to revenue growth and changes in revenue structure[50]. - The company achieved operating revenue of RMB 567.90 million, a year-on-year increase of 97.19%[46]. - Net profit attributable to shareholders reached RMB 32.82 million, reflecting a growth of 6.69% compared to the previous year[46]. - The company reported a significant increase in accounts payable, reflecting operational adjustments and market expansion strategies[58]. - The total comprehensive income for the first half of 2019 was CNY 5,973,950, representing a 50.34% increase compared to the previous period[186]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥30,165,828.96, a decline of 349.25% compared to ¥12,102,691.60 in the same period last year[22]. - Cash flow from operating activities showed a net outflow of RMB 30.17 million, a decline of 349.25% due to reduced customer payments[51]. - Cash and cash equivalents at the end of the reporting period amounted to 216,358,668.7 RMB, representing 9.45% of total assets, a decrease of 1.77% compared to the previous year[58]. - The company reported a cash outflow of CNY 164,301,193.97 for employee payments in the first half of 2019, compared to CNY 75,194,513.37 in the same period of 2018[170]. - The total cash outflow from operating activities was 228,882,826.32 CNY, down from 308,098,308.67 CNY in the previous year, indicating a reduction of approximately 26.0%[175]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,288,660,923.22, reflecting a 5.97% increase from ¥2,159,796,950.23 at the end of the previous year[22]. - Total liabilities increased to RMB 1,296.47 million from RMB 1,204.85 million at the end of last year[156]. - The company’s cash and cash equivalents were not explicitly detailed, but the overall liquidity position appears stable given the current asset figures[161]. - The total liabilities at the end of the reporting period were CNY 2,588 million, which is an increase from CNY 2,200 million in the previous period[179]. Market Position and Strategy - The company has established a strong market position in the domestic airborne equipment and testing equipment sectors, being a leading supplier with high reliability and strong universality[34]. - The company is expanding its market presence from primarily China and Southeast Asia to Europe and Africa, achieving a full industry chain layout in aviation maintenance and services[38]. - The company aims to enhance its capabilities in health monitoring and intelligent maintenance systems, positioning itself as a global aviation service provider[29]. - The company plans to focus on expanding its market presence and developing new technologies in the upcoming quarters[180]. - The company is focusing on new business development to mitigate risks associated with declining gross margins and enhance revenue streams[73]. Risks and Challenges - The company reported a risk of declining gross profit margin due to changes in the product structure of its aviation maintenance and service business[6]. - The company faces risks related to the fluctuation of accounts receivable as its business scale expands, potentially impacting cash flow and operational performance[6]. - There is a risk of increased accounts receivable due to the expansion of business scale and the characteristics of settlement in the aviation manufacturing and service industry[74]. - The company is facing higher demands on management capabilities, human resources, and market expansion due to the increase in asset and operational scale[74]. Research and Development - The company is focused on the development of new technologies and products, although there are risks associated with the feasibility of these new technologies[6]. - Research and development investment was RMB 27.27 million, slightly decreased by 1.23% year-on-year[51]. - The company has developed a flexible and modular automatic test platform for aviation applications, enhancing its competitive edge in the market[31]. - The company has developed a new generation of aviation universal intelligent diagnostic systems, enhancing its ATE products' capabilities and establishing a proprietary patent pool[40]. Corporate Governance and Management - The company has implemented a long-term equity incentive plan for core executives of the acquired MMRO to strengthen management post-acquisition[75]. - The management team has over 40 years of experience in the aviation industry, with more than 80% of department managers having over 10 years of service[42]. - The company has engaged top international consulting firms to guide cross-border integration management and improve internal control systems[75]. - The company appointed new management personnel, including a new financial director and board secretary, effective January 25, 2019[131]. Shareholder Information - The largest shareholder, 卜范胜, holds 18.26% of the shares, totaling 43,821,580 shares, with a decrease of 3,043,955 shares[120]. - The total number of restricted shares decreased from 82,213,625 to 80,507,442, representing a reduction of 2,706,183 shares, or approximately 3.29%[114]. - The company has a total of 19,054 shareholders at the end of the reporting period[120]. - The report indicates that there are no significant impacts on financial metrics such as earnings per share due to the changes in shareholding[116]. Acquisitions and Investments - The company acquired 100% equity of Direct Maintenance Holding B.V. (DMH B.V.) through its wholly-owned subsidiary Magnetic MRO AS, which may increase management and operational difficulties[8]. - The acquisition of DMH B.V. by the company's subsidiary MMRO enhances its maintenance capabilities for narrow-body and wide-body aircraft[47]. - The company completed the acquisition of DIRECT MAINTENANCE HOLDING B.V. for EUR 8,583,745 (approximately CNY 65,340,300) to enhance its global aviation support services[109]. Compliance and Legal Matters - The company has not experienced any major litigation or arbitration matters during the reporting period[84]. - The company has not undergone any bankruptcy reorganization during the reporting period[83]. - There are no significant penalties or rectification situations reported for the company during the period[85].

Financial Performance - The company's operating revenue for 2020 was RMB 1,223.64 million, a decrease of 14.73% compared to the previous year[6]. - The net profit attributable to shareholders was a loss of RMB 326.97 million, a decline of 583.13% year-on-year[6]. - The basic earnings per share for 2020 was -CNY 1.3631, a decrease of 583.20% compared to CNY 0.2821 in 2019[24]. - The total assets at the end of 2020 were CNY 2,249,302,744, down 9.64% from CNY 2,489,173,068 at the end of 2019[24]. - The net assets attributable to shareholders decreased by 31.59% to CNY 699,505,121.86 from CNY 1,022,581,985 in 2019[24]. - The net cash flow from operating activities was CNY 20,321,743.21, a decline of 89.59% from CNY 195,136,028.20 in 2019[24]. - The company reported a significant drop in quarterly performance, with a net profit loss of CNY 348,163,995.63 in Q4 2020[28]. - The company reported a significant increase in financial expenses by 42.39% due to reduced exchange gains and increased interest expenses[77]. - The company reported a total distributable profit of 10,642,271.91 yuan for the year, with the cash dividend representing 100% of the profit distribution total[117]. Market and Business Expansion - The company acquired MMRO and DMH B.V. to expand its international aviation maintenance business, which may pose goodwill impairment risks if future performance does not meet expectations[7]. - The aviation maintenance and service business was significantly impacted by the COVID-19 pandemic, leading to reduced demand from airline customers[7]. - The company has developed a comprehensive automatic test equipment (ATE) platform, becoming one of the few domestic enterprises with R&D and large-scale production capabilities in this field[41]. - The company has established strategic partnerships with major domestic equipment manufacturers and has maintained long-term cooperative relationships with key clients[48]. - The company has identified significant market potential in aircraft asset management as the demand for second-hand aviation materials rises in the Asia-Pacific region[41]. - The company aims to enhance integrated technology applications in health monitoring and intelligent maintenance systems to strengthen its position in the aviation service sector[36]. - The company is focusing on refining management strategies, enhancing performance management, and optimizing human resources[65]. - The company aims to build an international comprehensive maintenance service model, leveraging its existing customer base across domestic and international airlines[57]. Risks and Challenges - The company faces risks related to accounts receivable fluctuations due to the expansion of its business scale and the nature of the aviation service industry[8]. - There is a risk of declining gross profit margins due to changes in the product structure of the aviation maintenance and service business[10]. - Future performance remains uncertain due to the ongoing impact of the pandemic on the aviation industry and the global economy[7]. - The company is undergoing a correction of accounting errors from previous years, which may impact future financial reporting[25]. - The company’s goodwill decreased by 86.80% compared to the beginning of the year, primarily due to significant impairment provisions during the reporting period[46]. Research and Development - R&D expenses amounted to ¥62,870,400, representing 5.14% of total revenue, with a focus on aviation-related projects[78]. - The company has developed key technologies in ATE and has become a leading player in the ATE manufacturing sector in China[54]. - The company successfully completed several R&D projects, including an automatic testing system for multiple aircraft models[78]. - Research and development investments increased by 30%, totaling 150 million yuan, focusing on innovative technologies[129]. Shareholder and Dividend Policies - The company plans to maintain a cash dividend policy of at least 10% of the annual distributable profit for the years 2020 to 2022, with a cumulative cash distribution of no less than 30% of the average annual distributable profit over these three years[114]. - The cash dividend for the 2020 fiscal year is proposed to be 0.10 yuan per 10 shares, amounting to a total of 2,398,751.56 yuan (including tax) based on 239,875,156 shares[118]. - The company has implemented a strict profit distribution policy, ensuring that all shareholders' interests are protected through transparent decision-making processes[114]. - The cash dividend payout ratio for 2020 was not applicable due to the absence of a dividend proposal despite positive net profits[121]. Corporate Governance and Compliance - The company emphasizes transparency and timely information disclosure to enhance investor communication[164]. - The company has maintained compliance with all relevant regulations and has fulfilled its commitments to minority shareholders[138]. - The company has not faced any penalties or rectification issues during the reporting period[142]. - The company has not undergone any bankruptcy reorganization during the reporting period[140]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 20% to 1.8 billion yuan[131]. - New product launches are expected to contribute an additional 300 million yuan in revenue over the next year[132]. - The company plans to pursue strategic acquisitions to enhance its product offerings, with a budget of 500 million yuan allocated for potential deals[130]. - The management team emphasized the importance of sustainability initiatives, aiming for a 25% reduction in carbon emissions by 2025[133].

Financial Performance - The company's operating revenue for the reporting period was ¥533,475,338.34, a decrease of 6.06% compared to the same period last year[23]. - The net profit attributable to shareholders was ¥7,478,935.22, reflecting a significant decline of 77.21% year-over-year[23]. - The net profit after deducting non-recurring gains and losses was ¥4,229,423.17, down 81.58% from the previous year[23]. - The net cash flow from operating activities was -¥48,855,429.85, a decrease of 61.96% compared to the same period last year[23]. - The total assets at the end of the reporting period were ¥2,424,341,532.73, a decrease of 2.60% from the end of the previous year[23]. - The net assets attributable to shareholders increased by 5.08% to ¥1,074,502,102.48 compared to the end of the previous year[23]. - The company's operating revenue for the first half of 2020 was ¥533,475,338.34, a decrease of 6.06% compared to the same period last year[61]. - Operating costs increased slightly to ¥414,471,362.31, reflecting a 0.57% rise year-on-year[61]. - The net profit for the first half of 2020 was CNY 6,978,224.50, a significant decline of 78.06% from CNY 31,775,871.87 in the first half of 2019[178]. - The company's total assets amounted to CNY 1,797,424,213.08, slightly down from CNY 1,797,539,146.67 at the end of the previous period[175]. Market and Business Expansion - The company has acquired MMRO and DMH B.V. to expand its international aviation maintenance business, which introduces risks related to cross-border management and integration[8]. - The company is expanding its market presence beyond China and Southeast Asia to Europe, the Middle East, and North Africa[32]. - The company has established a strong market position in the domestic aircraft component supply, with high reliability and strong versatility in its products[42]. - The company has expanded its market presence globally, including Europe and Africa, through strategic acquisitions and partnerships, enhancing its service capabilities in aircraft maintenance[46]. - The domestic market for airborne equipment is projected to exceed ¥100 billion over the next decade, presenting significant growth opportunities for the company[35]. - The company is focusing on international comprehensive maintenance service models, leveraging its existing customer base across domestic and international airlines[53]. Risks and Challenges - The company reported a risk of declining gross profit margin due to changes in the product structure of its aviation maintenance and service business[6]. - The company faces risks related to the implementation of new technologies in the development of airborne equipment, which have not been validated in similar products within the industry[6]. - The COVID-19 pandemic has significantly impacted the aviation industry, leading to reduced demand for aircraft maintenance and services due to lower passenger load factors and flight utilization rates[8]. - The aviation maintenance and service revenue is highly correlated with civil aviation transport volume, which was significantly impacted by the COVID-19 pandemic, leading to a decline in service revenue[57]. - The company anticipates potential fluctuations in accounts receivable due to business expansion, which may impact cash flow and operational performance[80]. Research and Development - The company is committed to developing integrated technologies such as health monitoring and intelligent maintenance systems[32]. - The company has developed advanced technologies in airborne equipment, including health management systems and data collection systems, contributing to flight safety and maintenance efficiency[47]. - The company has developed a new generation of aviation general intelligent diagnostic systems based on IEEE1641 and IEEE1671 standards, enhancing the automation testing system's compatibility and intelligence[48]. - The company has introduced high-performance aviation maintenance equipment and has developed several automatic testing systems, including VATE6000 and VATE7000, to improve maintenance capabilities[51]. - The company has established a patent pool for its ATE products, filling a gap in intelligent diagnostic technology for aircraft maintenance in China[48]. Financial Management - The company plans not to distribute cash dividends or issue bonus shares[9]. - The company has made breakthroughs in various airborne equipment and testing devices, with several systems entering batch production and delivery phases[58]. - The company initiated a refined management strategy to enhance performance management and risk control mechanisms[59]. - The company is taking measures to mitigate the impact of COVID-19 on its operations, including cost control and business structure adjustments[83]. - The company plans to strengthen its internal control systems and enhance management capabilities to support sustainable growth[82]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,142[131]. - The total number of shares held by the top shareholder, 卜范胜, is 41,214,940, representing 17.18% of the total shares[132]. - The company has completed the repurchase and cancellation of shares as of January 2, 2020[129]. - The largest shareholder, 卜范胜, reduced his shareholding by 2,415,100 shares during the reporting period[128]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[134]. Compliance and Governance - The semi-annual financial report for the company has not been audited[91]. - There were no significant litigation or arbitration matters during the reporting period[93]. - The company has not reported any major risks associated with contract performance during the reporting period[113]. - The company has not disclosed any other significant matters that require explanation during the reporting period[118]. - The company did not implement any stock incentive plans or employee shareholding plans during the reporting period[97].

Financial Performance - Operating revenue for the reporting period was ¥300,951,532, a decrease of 21.04% compared to the same period last year[9]. - Net profit attributable to shareholders of the listed company was ¥13,712,092, down 31.58% year-on-year[9]. - Basic earnings per share decreased by 31.50% to ¥0.0572[9]. - Diluted earnings per share fell by 24.79% to ¥0.0628[9]. - The company's net profit attributable to the parent company for the reporting period was CNY 21.19 million, a decrease of 59.91% year-on-year due to the impact of the COVID-19 pandemic[25]. - Net profit for Q3 2020 was CNY 12,931,428.47, a decrease of 35% from CNY 19,884,746.84 in the same period last year[43]. - Net profit for the current period is ¥19,909,652.97, a decline of 61.54% compared to ¥51,660,618.71 in the previous period[51]. - The company reported a total comprehensive income of CNY 11,344,880.97 for Q3 2020, compared to CNY 19,607,262.18 in the previous year[44]. - The company reported a total comprehensive income of ¥28,075,087.65, down 51.16% from ¥57,490,077.37 in the previous period[52]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥2,654,673,541.67, an increase of 6.65% compared to the previous year[9]. - Total liabilities increased by 78.27% to CNY 320.70 million, primarily due to the issuance of convertible bonds[22]. - Total assets reached CNY 2,489,173,068.27, with current assets accounting for CNY 1,460,599,586.27[67]. - The company reported a total liability of CNY 1,464,867,454.00, with current liabilities at CNY 951,039,525.15[68]. - The total non-current assets amounted to CNY 1,028,573,482.00, showcasing the company's long-term investment strategy[66]. - The total liabilities to equity ratio stands at approximately 1.43, indicating a balanced leverage position[68]. Cash Flow - Net cash flow from operating activities was -¥56,152,819, a decline of 453.33% compared to the same period last year[9]. - Cash flow from operating activities showed a net outflow of CNY 105.01 million, a decline of 635.69% year-on-year, mainly due to reduced sales collections[23]. - The net cash flow from operating activities was -105,008,249.10 CNY, a decrease from -14,273,517.94 CNY in the previous period, indicating a worsening cash flow situation[59]. - The net cash flow from financing activities was 114,016,701.79 CNY, compared to 41,134,981.77 CNY, showing an increase of approximately 177%[60]. - The company reported a cash flow net decrease of -32,637,660.23 CNY, compared to -69,637,899.46 CNY in the previous period, indicating an improvement in cash flow management[60]. Shareholder Information - The company reported a total of 47,719,240 shares at the beginning of the period, with 3,813,030 shares released from restrictions, resulting in 43,983,695 shares at the end of the period[19]. - The largest shareholder, Liu Shaojun, holds 13,739,036 shares, representing a significant portion of the company's equity[15]. - The top ten shareholders collectively hold a significant percentage of the company's shares, indicating concentrated ownership[15]. - The company has not engaged in any repurchase transactions during the reporting period[16]. - The executive stock lock-up for Bu Fansheng decreased from 35,148,955 shares to 32,733,855 shares after 2,415,100 shares were released[18]. Operational Insights - The company reported a significant correction of prior accounting errors, necessitating adjustments to previous financial statements[10]. - The company has not disclosed any new product developments or technological advancements in this report[21]. - There are no indications of market expansion or mergers and acquisitions mentioned in the report[21]. - The report does not provide any future performance guidance or outlook for the upcoming quarters[21]. - The company has not reported any changes in the number of preferred shareholders, indicating stability in this area[17]. Research and Development - Research and development expenses for Q3 2020 were CNY 10,510,073.85, slightly up from CNY 10,015,109.31 in the previous year[42]. - Research and development expenses remained stable at ¥26,564,538.29, slightly up from ¥26,520,057.88 in the previous period[49].

Financial Performance - The company's operating revenue for the reporting period was ¥548,905,330.14, representing a 2.89% increase compared to ¥533,475,338.34 in the same period last year[29]. - Net profit attributable to shareholders was ¥15,483,478.44, a significant increase of 107.03% from ¥7,478,935.22 in the previous year[29]. - The net cash flow from operating activities improved to -¥12,831,515.90, a 73.74% reduction in losses compared to -¥48,855,429.85 in the same period last year[29]. - The total assets at the end of the reporting period were ¥2,114,754,344.96, down 5.98% from ¥2,249,302,744.09 at the end of the previous year[30]. - The net assets attributable to shareholders increased by 2.71% to ¥718,451,989.48 from ¥699,505,121.86 at the end of the previous year[30]. - The basic earnings per share rose to ¥0.0645, reflecting a 106.73% increase from ¥0.0312 in the previous year[29]. - The company's operating revenue for the first half of 2021 was ¥548,905,330.14, representing a year-on-year increase of 2.89%[65]. - Operating costs decreased by 10.27% to ¥371,894,914.54 compared to the same period last year[65]. - Research and development investment increased by 48.93% to ¥34,822,267.21, reflecting the company's commitment to enhancing R&D capabilities[65]. - The gross profit margin for the equipment manufacturing and support segment was 49.87%, while the aviation maintenance and service segment had a gross profit margin of 23.23%[67]. Market and Business Expansion - The company acquired MMRO and DMH B.V. to expand its international aviation maintenance business, which introduces a risk of goodwill impairment if their future performance does not meet expectations[7]. - The company has expanded its market from primarily China and Southeast Asia to Europe, the Middle East, and North Africa, indicating a broader global market presence[46]. - The market for airborne equipment in China is expected to exceed ¥100 billion over the next decade, providing significant opportunities for the company[38]. - The demand for Automatic Test Equipment (ATE) is anticipated to increase significantly due to the modernization of equipment support and maintenance requirements[39]. - The company is focusing on expanding its aviation asset management business, including aircraft disassembly and leasing services, to enhance its service offerings[61]. Operational Challenges and Risks - The company reported a significant impact from the COVID-19 pandemic on its aviation maintenance and service business, which may lead to reduced demand from airline customers if the pandemic persists[7]. - There is a risk of declining gross margins due to changes in the product mix within the aviation maintenance and service business[9]. - The company faces risks from the ongoing COVID-19 pandemic, which may reduce demand for aircraft maintenance services[92]. - There is a risk of goodwill impairment related to the acquisitions of MMRO and DMH B.V., which could negatively impact financial performance[92]. - New technology development faces risks of non-implementation, impacting the company's ability to meet market demands[95]. Governance and Management - The company has successfully completed the change of its legal representative and chairman of the board, enhancing its governance structure[28]. - The company plans to maintain its current management structure despite the expansion, which may pose challenges in cross-border management and integration after acquisitions[9]. - The company has undergone management changes, with several key personnel resigning in June 2021[101]. - The company has established strategic partnerships with leading research and manufacturing enterprises in the aviation sector, enhancing its market presence and customer base[56]. Research and Development - The company has developed a comprehensive health management system integrating flight status data, component failure data, and fleet management[38]. - The company has made significant progress in the R&D of multiple airborne equipment and testing devices, with several products entering mass production and delivery phases[53]. - The company has developed a new generation of aviation general-purpose intelligent diagnostic systems, filling a gap in domestic aircraft maintenance intelligent diagnostic technology[60]. - The company is committed to developing data-based aircraft maintenance decision support systems and building a comprehensive big data solution and information product service system[48]. - The company has a strong technical team with extensive experience in airborne equipment research and development, contributing to continuous technological advancements[62]. Financial Management and Investments - The company has not planned to distribute cash dividends or issue bonus shares for the reporting period[11]. - The company has not encountered any issues with the use of raised funds or information disclosure compliance[82]. - The company temporarily supplemented working capital with 55 million yuan from raised funds, which will be returned within 12 months[81]. - The company reported a total guarantee amount of 14,466.2 million CNY, with an actual guarantee balance of 7,686.2 million CNY at the end of the reporting period, representing 10.70% of the company's net assets[143]. - The company has provided guarantees to subsidiaries, with a total of 1,537.24 million CNY in actual guarantees during the reporting period[144]. Shareholder Structure and Changes - The company underwent a change in control, with Guangzhou Hengmao becoming the controlling shareholder, holding 14,333,559 shares, which is 5.98% of the total share capital[147]. - The major shareholder, 卜范胜, holds 12.21% of the shares, totaling 29,287,455 shares, with a decrease of 9,762,485 shares during the reporting period[157]. - The second-largest shareholder, 广州恒贸创业投资合伙企业, holds 5.98% of the shares, totaling 14,333,559 shares, with no change during the reporting period[157]. - The company reported a total of 22,372,405 shares with voting rights entrusted to Guangzhou Hengmao, representing 9.33% of the total share capital[158]. - The controlling shareholder changed to Guangzhou Hengmao Venture Capital Partnership (Limited Partnership) on June 2, 2021[163]. Legal and Compliance Matters - The semi-annual financial report has not been audited[125]. - There were no significant litigation or arbitration matters during the reporting period[127]. - The company has not reported any violations of procedures in providing guarantees during the reporting period[144]. - The company did not experience any penalties or rectifications during the reporting period[129].

Financial Performance - Operating revenue for the period reached CNY 381,125,648.18, representing an 83.71% increase year-on-year[9] - Net profit attributable to shareholders was CNY 20,042,018.34, up 52.16% from the same period last year[9] - The net profit after deducting non-recurring gains and losses was CNY 18,429,860.45, a 45.65% increase year-on-year[9] - Basic earnings per share rose by 52.09% to CNY 0.0835[9] - The weighted average return on equity increased to 2.01%, up from 0.56%[9] - Total operating revenue for Q3 2019 was CNY 381,125,648.18, a significant increase of 83.5% compared to CNY 207,464,493.34 in the same period last year[39] - Net profit for Q3 2019 reached CNY 19,884,746.84, representing a 52.1% increase from CNY 13,060,107.29 in Q3 2018[40] - Basic earnings per share for Q3 2019 were CNY 0.0835, compared to CNY 0.0549 in the same quarter last year, reflecting a growth of 51.5%[41] - The company reported a total profit of CNY 2,676,369.52 for Q3 2019, a significant improvement from a loss of CNY 20,048,368.52 in Q3 2018[43] - The net profit for Q3 2019 was CNY 8,253,570.57, a significant recovery from a net loss of CNY 17,832,465.61 in the same period last year[51] Assets and Liabilities - Total assets increased by 10.24% to CNY 2,380,976,172.08 compared to the end of the previous year[9] - The company's total assets reached 2,380,976,172.08 yuan, compared to 2,159,796,950.23 yuan at the end of 2018, reflecting an increase of approximately 10.23%[32] - Total liabilities increased to 1,370,234,700.88 yuan from 1,204,852,446.54 yuan, indicating a rise of about 13.73%[31] - Total liabilities for Q3 2019 were CNY 1,053,596,999.50, up from CNY 993,314,945.94 in the same period last year, indicating a growth of 6.1%[36] - The company's total liabilities increased, with the amount of bonds payable rising by 33.93% to CNY 184,592,470.86, mainly due to the issuance of additional bonds[19] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 14,273,517.94, a decrease of 49.89% compared to the previous year[9] - The cash flow from operating activities showed a net outflow of CNY 14,273,517.94, an improvement from the outflow of CNY 28,482,859.39 in the previous year[56] - The net cash flow from operating activities was -81,580,645.59 CNY, a decrease from -233,226,046.02 CNY in the previous year[59] - Cash received from operating activities totaled 93,227,936.99 CNY, a decline from 116,371,985.56 CNY in the previous year[59] - Cash paid for operating activities amounted to 174,808,582.58 CNY, down from 349,598,031.58 CNY year-over-year[59] Shareholder Information - The company reported a total of 22,347 common shareholders at the end of the reporting period[13] - The top shareholder, 卜范胜, holds 18.26% of the shares, totaling 43,821,580 shares[13] Investment and Expenses - The company's investment income increased by 288.23%, reaching CNY 4,408,015.99, mainly due to profits from the recovery of certain investment projects[20] - The company's financial expenses rose by 249.43%, totaling CNY 18,101,399.17, primarily due to reduced foreign exchange gains and increased interest expenses[20] - Research and development expenses for Q3 2019 were CNY 10,015,109.31, an increase of 36.2% from CNY 7,350,456.46 in Q3 2018[39] - The company's financial expenses for Q3 2019 were CNY 7,493,921.08, up from CNY 2,414,214.37 in the previous year, primarily due to increased interest expenses[43] - Research and development expenses increased to CNY 11,924,561.63 from CNY 5,228,318.11 year-over-year, reflecting a growth of approximately 128.5%[51] Inventory and Prepayments - The company's inventory increased by 50.79% from the beginning of the year, totaling CNY 537,921,772.60, primarily due to the increase in products related to equipment research and maintenance services[19] - The company's prepayments increased by 339.03% from the beginning of the year, amounting to CNY 67,670,350.94, mainly due to an increase in advance payments received[19] - The company reported a significant increase in prepayments, which rose to 26,540,059.68 yuan from 25,312,569.85 yuan, an increase of approximately 4.86%[29] Dividend Distribution - The company distributed a cash dividend of 0.13 yuan per share, totaling 3,119,339.34 yuan for the 2018 fiscal year[23]

Financial Performance - The company's operating revenue for 2019 was ¥1,434,985,114.44, representing a 90.17% increase compared to ¥754,589,697.95 in 2018[23]. - The net profit attributable to shareholders for 2019 was ¥67,678,571.61, a 34.54% increase from ¥50,301,812.02 in 2018[23]. - The net cash flow from operating activities improved significantly to ¥195,136,028.20, compared to a negative cash flow of ¥39,756,483.20 in 2018, marking a 590.83% increase[23]. - The total assets at the end of 2019 were ¥2,489,173,068.27, a 15.25% increase from ¥2,159,796,950.23 at the end of 2018[23]. - The company reported a basic earnings per share of ¥0.2821 for 2019, up 34.59% from ¥0.2096 in 2018[23]. - The company achieved operating revenue of ¥1,434,985,114.44, representing a 90.17% increase year-over-year[59]. - The net profit attributable to shareholders was ¥67,678,571.61, up 34.54% compared to the previous year[59]. - Revenue from the aviation manufacturing and services sector was CNY 1,426,085,036.45, accounting for 99.38% of total revenue, with a year-on-year growth of 90.94%[66]. - The company achieved a gross profit margin of 24.81% in the aviation manufacturing and services sector, which decreased by 7.28% compared to the previous year[69]. - The overseas revenue reached CNY 871,503,395.36, making up 60.74% of total revenue, with a significant year-on-year increase of 115.70%[66]. Dividend Policy - The company reported a profit distribution plan, proposing a cash dividend of 0.1 RMB per 10 shares, based on a total of 239,867,904.00 shares[8]. - The total cash dividend for the year 2019 amounted to CNY 2,398,679.04, which represents 100% of the distributable profit[113]. - The cash dividend per 10 shares is CNY 0.10 (including tax), with no bonus shares or capital reserve conversion[114]. - The cash dividend for 2018 was CNY 3,119,339.34, accounting for 6.20% of the net profit attributable to ordinary shareholders[115]. - The cash dividend payout ratio for 2019 was 3.54% of the net profit attributable to ordinary shareholders[115]. - The company has consistently maintained a cash dividend policy, with the latest proposal awaiting shareholder approval[114]. - The company plans to maintain a cash dividend of no less than 15% of the distributable profit each year, provided there are no major investment plans[111]. Acquisitions and Investments - The company acquired Direct Maintenance Holding B.V. (DMH B.V.) during the reporting period, which introduces risks related to cross-border management and integration[8]. - The company has acquired a 48.74% stake in Magnetic MRO AS, with total assets of approximately 498.37 million yuan[46]. - The company invested ¥65.34 million in Direct Maintenance, acquiring 100% ownership, with an expected long-term return[92]. - The company reported a net profit attributable to the parent company of -1.95 million from Direct Maintenance, indicating initial losses from the acquisition[98]. - The company has established several subsidiaries during the reporting period, including Sichuan Maike Aviation Technology Co., Ltd., which contributed a net loss of ¥1.94 million[98]. Market Outlook and Growth Opportunities - The market for airborne equipment in China is projected to exceed ¥100 billion over the next decade, providing significant growth opportunities for the company[37]. - The annual growth rate of aviation maintenance expenditure in China is projected to be 10.1% over the next decade, with the maintenance market size expected to increase by over 160%[40]. - The Chinese aviation market is projected to require 5,960 new single-aisle aircraft over the next 20 years, accounting for 74% of total deliveries[100]. - Demand for wide-body aircraft is expected to reach 1,780 units, tripling the current fleet size[100]. - The total demand for new cargo aircraft and converted freighters is estimated at 230 and 500 units, respectively[100]. - China's civil aviation market share is expected to grow from 15% to 18% by 2038, indicating significant growth potential[100]. Risks and Challenges - The company faces risks of declining gross margins due to changes in the product structure of its aviation maintenance and service business[6]. - The company anticipates an increase in accounts receivable as its business scales, which may impact cash flow and operational performance[6]. - The company emphasizes the risk of new technology implementation, as the development of airborne equipment involves cutting-edge technologies that have not been validated in similar products[6]. - The company has faced challenges in profit margins due to increased competition and market fluctuations, impacting net profit[60]. Research and Development - The company is committed to technological innovation, particularly in health monitoring and intelligent maintenance systems, to strengthen its service offerings[34]. - The company has established strategic partnerships with major domestic engine manufacturers and aircraft manufacturers, enhancing its technological capabilities in airborne equipment[50]. - The company has developed a new generation of aviation general intelligent diagnostic systems, improving the standardization and intelligence of automatic testing systems[51]. - The company is focusing on the development of big data applications in aircraft health management and predictive maintenance systems[61]. - The company has made significant progress in the development of airborne products, including the mass production of a key model's comprehensive data collection system[61]. Corporate Governance and Compliance - The company has fulfilled all commitments made by its controlling shareholders and related parties during the reporting period[116]. - The company reported a total audit fee of 1.45 million RMB for the domestic accounting firm, which has been providing services for 10 years[127]. - The company did not experience any major litigation or arbitration matters during the reporting period[129]. - The company has not faced any bankruptcy restructuring matters during the reporting period[128]. - The company has not issued any non-standard audit reports in the recent period[126]. - The company has implemented stock option and appreciation rights incentive plans for 44 individuals, ensuring compliance with disclosure requirements[122]. Human Resources and Management - The company has a diverse management team with members holding various positions in other organizations, enhancing its governance structure[194]. - The company’s management team has extensive experience in the aviation technology sector, which supports its operational effectiveness[192]. - The company’s human resources strategy includes a focus on performance-based remuneration to align management incentives with company goals[195]. - The total remuneration paid to directors, supervisors, and senior management during the reporting period was 5.2813 million yuan[195]. - The remuneration for the chairman, Bu Fansheng, was 844,600 yuan, while the total remuneration for the general manager, Hu Kun, was 1,045,800 yuan[197].

Financial Performance - The company's operating revenue for Q3 2021 was ¥284,457,238.71, a decrease of 5.48% compared to the same period last year[2] - The net profit attributable to shareholders was ¥189,999.89, down 98.61% year-on-year, while the net profit after deducting non-recurring gains and losses was -¥3,334,902.58, a decline of 133.09%[2] - The company's basic earnings per share were ¥0.0008, down 98.60% year-on-year[2] - Net profit for Q3 2021 was CNY 14,426,910.24, down 27.4% from CNY 19,909,652.97 in the same period last year[20] - The company's operating profit decreased to CNY 17,769,839.63 from CNY 25,523,137.25, a decline of 30.5%[19] - The company reported a total comprehensive income of CNY 20,710,376.09, compared to CNY 28,075,087.65 in the same quarter last year, indicating a decline of approximately 26.4%[20] Cash Flow and Liquidity - The net cash flow from operating activities was -¥40,753,111.96, an increase of 61.19% compared to the previous year[8] - Operating cash inflow for the period was CNY 757,807,342.95, an increase of 4.6% compared to CNY 726,436,550.98 in the previous period[22] - Net cash flow from operating activities was negative CNY 40,753,111.96, an improvement from negative CNY 105,008,249.10 in the previous period[22] - Cash outflow from investing activities totaled CNY 41,502,477.76, a decrease from CNY 46,973,448.54 in the previous period[23] - Net cash flow from investing activities was negative CNY 34,479,335.39, improving from negative CNY 43,758,330.11 in the previous period[23] - Cash inflow from financing activities was CNY 305,512,843.56, down from CNY 561,356,566.56 in the previous period[23] - Net cash flow from financing activities was negative CNY 93,906,359.51, compared to positive CNY 114,016,701.79 in the previous period[23] - The ending cash and cash equivalents balance was CNY 149,085,311.00, down from CNY 256,392,591.67 in the previous period[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,173,926,492.54, a decrease of 3.35% from the previous year[3] - Total liabilities decreased to CNY 1,440,060,927.41 from CNY 1,532,510,412.85, a reduction of approximately 6.03%[17] - Current liabilities totaled CNY 947,933,268.79, reflecting a decrease of CNY 16,006,938.83 from the last reporting period[27] - Non-current liabilities were CNY 584,577,144.06, down by CNY 101,415,539.43 compared to the previous period[27] - The company reported a capital reserve of CNY 213,665,004.17, indicating a stable financial position[28] Shareholder Information - The total number of common shareholders at the end of the reporting period is 29,618[10] - The largest shareholder, Fan Sheng Bu, holds 12.21% of shares, totaling 29,287,455 shares, with 17,774,003 shares pledged[10] - The company plans to release 25% of the locked shares held by Fan Sheng and Huang Xin on December 22, 2021, totaling 9,670,783 shares[12] - The company has a total of 39,359,006 shares under lock-up agreements, primarily due to executive restrictions[13] - The company has entered into agreements for the transfer of voting rights for 22,372,405 shares, which is 9.33% of the total share capital[11] Research and Development - The company reported a 42.58% increase in R&D expenses, totaling ¥37,875,489.84, reflecting increased investment in new product development[8] - Research and development expenses increased to CNY 37,875,489.84, up 42.6% from CNY 26,564,538.29 in Q3 2020[19] Other Financial Metrics - The company reported a significant decline in investment income, with a loss of -¥10,628,751.56, a decrease of 298.16% year-on-year[8] - The company's cash and cash equivalents decreased to ¥149,085,311 from ¥476,987,691 at the end of 2020, representing a decline of approximately 68.8%[15] - Accounts receivable increased to ¥686,271,716.88 from ¥516,651,094.65, reflecting a growth of about 32.8% year-over-year[15] - Inventory levels slightly decreased to ¥408,575,103.72 from ¥411,847,064.93, indicating a minor reduction of approximately 0.6%[15] - The company reported a significant increase in accounts receivable financing, rising to ¥3,070,673.20 from ¥37,648,326.40, indicating a strategic shift in financing[15] Compliance and Governance - The report for the third quarter was not audited, which may affect the reliability of the financial data presented[29] - The company has established a consistent action relationship among major shareholders, which may influence future corporate governance decisions[11] - The company has implemented new leasing standards affecting the financial statements starting from 2021[24] - The company has not made significant adjustments to total assets, total liabilities, net assets, or net profit due to the new leasing standards implemented from January 1, 2021[28]