Financial Performance - The company's revenue for Q3 2022 was ¥110,061,967.55, representing a 54.33% increase compared to the same period last year[5] - The net profit attributable to shareholders was -¥3,242,173.64, a decrease of 52.98% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥6,584,012.55, an increase of 64.88% compared to the previous year[5] - Total operating revenue for the period was CNY 427,677,036.28, a decrease of 5.5% compared to CNY 451,117,871.53 in the previous period[21] - The net profit for the period was a loss of CNY 30,626,310.22, compared to a profit of CNY 10,939,992.37 in the previous period[22] - The company reported a basic earnings per share of -0.1602, compared to 0.0591 in the previous period[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,170,437,058.59, down 4.21% from the end of the previous year[5] - The total assets of the company as of September 30, 2022, amount to 2.17 billion yuan, down from 2.27 billion yuan at the beginning of the year[19] - Total liabilities decreased to CNY 652,936,980.73 from CNY 762,385,209.21 in the previous period[22] - The total equity attributable to shareholders of the parent company was CNY 1,467,827,622.30, down from CNY 1,497,814,562.35 in the previous period[22] Cash Flow - The company's cash flow from operating activities showed a net outflow of -¥28,146,110.00, a decline of 119.28% compared to the previous year[11] - Cash flow from operating activities was CNY 360,422,632.62, a significant decrease from CNY 568,382,126.17 in the previous period[25] - The net cash flow from operating activities was -28,146,110.00 CNY, a significant decrease compared to 145,987,765.84 CNY in the previous year[26] - The net cash flow from investment activities was 61,805,839.73 CNY, a recovery from -116,980,835.53 CNY in the previous year[26] - The company reported a total cash outflow from financing activities of 26,219,583.33 CNY, compared to 61,683,667.90 CNY in the previous year[26] - The net increase in cash and cash equivalents for the period was 17,732,337.70 CNY, contrasting with a decrease of 33,132,605.63 CNY in the previous year[26] Expenses - Research and development expenses decreased by 60.93% to ¥41,199,274.88 as the company adjusted its operational model[9] - Total operating costs amounted to CNY 454,622,595.89, down 2.4% from CNY 465,905,095.98 in the previous period[21] - The company experienced a 69.85% reduction in sales expenses, reflecting a significant decline in sales volume and pricing in the ETC aftermarket business[9] Shareholder Information - The total number of common shareholders at the end of the reporting period is 16,952[13] - The cumulative loss attributable to the parent company for 2022 is -30.16 million yuan, but the consolidated net profit for the year is expected to be profitable[14] - If the net profit of Beijing Juliy Technology in 2022 is less than 62.79 million yuan, it will trigger performance compensation obligations[15] - The company has a total of 17,962,702.46 yuan in excess performance rewards that remain unpaid due to the lack of a consensus among the original shareholders[15] Other Financial Metrics - The weighted average return on net assets was -0.22%, a decrease of 82.21% year-on-year[5] - The company reported a tax expense of CNY -11,300,267.05, compared to CNY -4,914,294.79 in the previous period[22] - Other comprehensive income after tax was CNY 173,889.11, with no previous period comparison available[23] - The company completed the acquisition of Guochuang Thermal Management Technology Co., Ltd. and included it in the consolidated financial statements after the capital increase[16]

Financial Performance - The company reported a net profit attributable to the parent company of approximately -26.92 million yuan for the first half of 2022[4]. - The company's operating revenue for the first half of 2022 was ¥317,615,068.73, a decrease of 16.37% compared to ¥379,802,175.53 in the same period last year[29]. - The net profit attributable to shareholders was a loss of ¥26,918,655.52, representing a decline of 303.36% from a profit of ¥13,236,999.28 in the previous year[29]. - The net cash flow from operating activities was a negative ¥27,273,495.77, down 145.41% from ¥60,058,189.46 in the same period last year[29]. - The total assets at the end of the reporting period were ¥2,104,627,629.76, a decrease of 7.12% from ¥2,265,942,526.56 at the end of the previous year[29]. - The company reported a basic earnings per share of -¥0.1430, compared to ¥0.0700 in the same period last year, a decline of 304.29%[29]. - The company's gross profit margin significantly declined, leading to an operating cost of ¥254,308,232.19, which is an increase of 4.49% from ¥243,391,454.57[69]. - The company reported a strong performance in the first half of 2022, with significant advancements in product technology and compliance with national standards GB/T20851-2007 and GB/T20851-2019[48][50]. Business Segments - The AFC business segment achieved operating revenue that remained flat compared to the same period last year, with a net profit of 8.95 million yuan, a decrease from the previous year[4]. - The ETC business segment generated operating revenue of approximately 79 million yuan, resulting in an overall loss of 34.61 million yuan due to factors such as a significant decline in market demand and increased raw material costs[4]. - The total revenue for the AFC business segment fell to ¥8,952,859.67, a significant decline compared to ¥35,783,328.24 in the same period last year[70]. - The ETC business segment reported a loss of -¥35,871,515.19, narrowing from -¥85,372,815.28 in the previous year, attributed to market changes and cost control measures[70]. Market and Competitive Position - The company focuses on two main business segments: AFC system integration for rail transit and ETC business for road traffic[36]. - The company is a major player in the domestic market for intelligent terminal AFC system integration and equipment manufacturing[36]. - The company has established a strong market presence, having entered over 20 urban rail transit lines across multiple cities and expanded its business internationally to countries like India, Malaysia, and the USA[44]. - The company holds a significant market share in the ETC industry, with its products accounting for approximately 85% of the market, alongside competitors like Jinli Technology and Wanjie Technology[58]. - The company has received orders from over 20 domestic automakers, including Honda and Great Wall, which reflects its recognized R&D and production capabilities[57]. Research and Development - The company has accumulated 31 invention patents, 18 utility model patents, 14 design patents, and 42 software copyrights, showcasing its strong R&D capabilities[43]. - The company emphasizes core technology enhancement and maintains a consistent R&D investment to support ongoing innovation and product development[56]. - Research and development expenses increased by 25% to support innovation in smart terminal technologies[100]. - The company is investing 1.8 billion in research and development for new technologies in the upcoming fiscal year[101]. - R&D investment decreased by 64.74% to ¥26,155,365.87 due to mature products and significant declines in sales and prices[70]. Cash Flow and Financial Management - The company is taking measures to address cash flow risks by pursuing legal action against overdue accounts receivable and enhancing sales personnel incentives[6]. - The company has a sufficient order backlog of approximately 1.15 billion yuan, with most projects progressing smoothly despite delays in specific projects[4]. - The company is focusing on legal strategies to mitigate financial losses from ongoing disputes and ensure compliance with contractual obligations[141]. - The company is actively pursuing litigation related to the Urumqi BRT2 contract, with a claim amount of CNY 25.11 million, which is currently pending[144]. Legal and Compliance Issues - The company is involved in multiple lawsuits, with a total claim amount of approximately ¥3,123,800 (31.24 million) related to disputes with Fujian Ningde Huixiang Technology Co., Ltd. and Beijing Founder Technology Co., Ltd.[141]. - The company has ongoing litigation with Shanghai Aoteng Computer Technology Co., Ltd. regarding a sales contract dispute, with a claim amount of ¥14,760 (0.01476 million)[142]. - The company has reported a significant amount of overdue payments and penalties from various clients, indicating potential cash flow challenges[142]. - The company is monitoring the outcomes of its legal proceedings closely to assess their impact on future financial performance[142]. Future Outlook - The company expects to turn a profit for the full year 2022, influenced by factors including the ETC pre-installation business gradually ramping up and becoming a profit growth point[162]. - The company plans to further reduce losses in the second half of the year by adjusting its operational model and focusing on the front-loading market[70]. - Future product enhancements will focus on improving user interaction through advanced communication technologies and user-friendly interfaces[49]. - The company has set a performance guidance for the second half of 2022, expecting a revenue growth of approximately 10%[104]. Shareholder and Corporate Governance - The annual shareholders' meeting had a participation rate of 32.39%[126]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[129]. - The company has not reported any significant related party transactions or major contracts during the reporting period[154][161]. - The company’s independent director passed away in 2022, which was disclosed in a public announcement[166].

Financial Performance - The company reported a net profit attributable to the parent company of approximately -190 million yuan, with goodwill and intangible asset impairments impacting net profit by about -139 million yuan [6]. - The company's operating revenue for 2021 was ¥593,624,482.14, a decrease of 52.50% compared to ¥1,249,773,571.27 in 2020 [25]. - The net profit attributable to shareholders in 2021 was -¥189,713,650.15, representing a decline of 249.18% from ¥127,167,979.43 in 2020 [25]. - The net cash flow from operating activities improved to ¥166,325,050.98 in 2021, a significant increase of 268.53% compared to -¥98,691,562.50 in 2020 [25]. - The basic earnings per share for 2021 was -¥1.01, a decrease of 248.53% from ¥0.68 in 2020 [25]. - The company reported a quarterly revenue of ¥144,374,950.67 in Q1, ¥235,427,224.86 in Q2, ¥71,315,696.00 in Q3, and ¥142,506,610.61 in Q4 of 2021 [27]. - The net profit attributable to shareholders in Q4 2021 was -¥200,831,265.83, indicating significant losses in the last quarter [27]. - The company recorded a total of ¥35,437,809.92 in government subsidies for 2021, which are closely related to its normal business operations [30]. - The weighted average return on equity for 2021 was -11.75%, a decrease of 19.46% compared to 7.71% in 2020 [25]. - The company's net assets attributable to shareholders decreased by 12.41% to ¥1,497,814,562.35 at the end of 2021 from ¥1,709,989,100.81 at the end of 2020 [25]. Revenue and Market Segments - The AFC business segment achieved operating revenue of approximately 375 million yuan, showing a slight increase compared to the previous year, while the ETC business segment's revenue was about 225 million yuan, a decrease of approximately 70% year-on-year [6]. - The gross profit margin for the ETC segment dropped from 50% to 20%, significantly affecting profitability due to a sharp decline in sales volume and prices [6]. - The AFC equipment revenue accounted for 55.74% of total operating revenue, showing a year-on-year increase of 24.23% [102]. - The ETC product revenue decreased by 76.51% year-on-year, reflecting a significant drop in market demand [103]. - The company has approximately CNY 1.2 billion in AFC reserve orders, including projects like Zhengxu Line and Shanghai QR code interconnectivity [95]. - The company specializes in AFC system integration and ETC business, positioning itself as a leading manufacturer and integrator in the smart terminal market [55]. Research and Development - The company plans to continue investing in R&D for ETC backend applications and vehicle networking to enhance future profit growth points [7]. - The company’s R&D investment amounted to ¥137,381,385.36 in 2021, representing 23.14% of its operating revenue, a significant increase from 9.57% in 2020 [118]. - The number of R&D personnel increased to 260 in 2021, up by 3.17% from 252 in 2020, with a higher proportion of younger employees under 30 years old [118]. - The company is focusing on R&D in optimizing AFC core modules and payment integration software to enhance product market share and technological updates [149]. - The company plans to increase R&D investment in core modules, IoT, and V2X technologies in the rail and road transportation sectors to enhance competitive strength [151]. Strategic Initiatives and Future Outlook - The company aims to achieve profitability in 2022 by optimizing the supply chain and reducing unit costs, as well as leveraging new orders from major automotive manufacturers [146]. - The company plans to continue strengthening market development and optimizing management to enhance overall competitiveness in 2022 [100]. - The company is exploring opportunities in suburban railways and intercity railways, which are gaining traction as urban centers expand [40]. - The company aims to enhance its operational efficiency and service quality as part of its strategic transformation towards high-quality development [38]. - The company has identified the urban rail transit sector as a key growth area, with 35 new urban rail transit lines and 1,168 kilometers of new operational mileage added in 2021, representing a 15% increase year-on-year [150]. Operational Challenges - The company faces increased costs due to rising prices of raw materials and high-end technical talent, impacting operational expenses [9]. - The average accounts receivable at the end of the reporting period was 592 million yuan, with an average aging of over one year, indicating cash flow risks [9]. - The company reported a financial provision of approximately RMB 40 million due to impairment of certain raw materials and products, reflecting the impact of price declines [145]. - The company experienced a 102.19% increase in asset impairment losses, totaling -¥193,861,382.10, indicating ongoing challenges with asset valuations [124]. Corporate Governance and Structure - The company operates independently from its controlling shareholders in terms of business, assets, personnel, finance, and organization [162]. - The company has a complete and independent production, supply, and sales system for its main product, AFC equipment for rail transit [162]. - The company maintains a separate financial accounting system and operates independent bank accounts, ensuring no assets or funds are occupied by shareholders [163]. - The company has a diverse board of directors and management team, ensuring effective governance and oversight [166]. - The company has not engaged in any mergers or acquisitions during the reporting period [164]. Shareholder and Profit Distribution - The board approved a profit distribution plan with no cash dividends or stock bonuses for shareholders, indicating a focus on retaining capital [10]. - The company’s distributable profit for the year was ¥384,344,918.90, with no cash dividends distributed, resulting in a cash dividend total of ¥0.00 [200]. - The company maintains a cash dividend policy where at least 10% of the distributable profit must be distributed in cash, contingent on positive net profits and no major investment plans [197]. - The company’s profit distribution policy emphasizes stable returns to investors while considering sustainable development [196].

Financial Performance - The company's operating revenue for Q1 2022 was ¥90,501,011.91, a decrease of 37.32% compared to ¥144,374,950.67 in the same period last year[3] - The net profit attributable to shareholders was a loss of ¥12,693,832.86, representing a decline of 352.22% from a profit of ¥5,032,750.00 in the previous year[3] - The net cash flow from operating activities was negative at ¥20,651,105.04, a decrease of 139.73% compared to ¥51,978,553.04 in the same period last year[3] - The company's basic and diluted earnings per share were both -¥0.0674, reflecting a decrease of 324.67% compared to ¥0.03 in the same period last year[3] - Total operating revenue for Q1 2022 was CNY 90,501,011.91, a decrease of 37.3% compared to CNY 144,374,950.67 in the same period last year[26] - Net profit for Q1 2022 was a loss of CNY 12,770,210.18, compared to a profit of CNY 4,928,764.24 in Q1 2021, representing a significant decline[27] Cash Flow and Liquidity - The cash and cash equivalents at the end of the period were ¥286,624,881.01, a decrease of 3.04% from ¥295,620,615.82 in the previous year[13] - The company reported a cash inflow from operating activities of CNY 134,605,288.53, down 43.8% from CNY 239,643,879.47 in the previous year[29] - The net cash flow from operating activities was -20,651,105.04 CNY, compared to 51,978,553.04 CNY in the previous year, indicating a significant decline[30] - Cash inflow from investment activities totaled 263,300,000.00 CNY, up from 235,000,000.00 CNY year-over-year[30] - The net cash flow from investment activities improved to 62,646,147.32 CNY, compared to -29,690,919.63 CNY in the same period last year[30] - Cash inflow from financing activities was 10,000,000.00 CNY, while cash outflow was 17,409,797.73 CNY, resulting in a net cash flow of 10,000,000.00 CNY[30] - The total cash and cash equivalents increased by 52,688,741.16 CNY during the quarter, compared to an increase of 5,985,432.15 CNY in the previous year[30] - The beginning balance of cash and cash equivalents was 233,936,139.85 CNY, down from 289,635,183.67 CNY year-over-year[30] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,257,536,204.02, a slight decrease of 0.37% from ¥2,265,942,526.56 at the end of the previous year[3] - The total liabilities increased to CNY 766,765,821.84, compared to CNY 762,385,209.21 at the end of the previous period[25] - The total equity attributable to shareholders of the parent company decreased to CNY 1,485,104,004.49 from CNY 1,497,814,562.35[25] - As of March 31, 2022, total assets amounted to 2.26 billion yuan, a slight decrease from 2.26 billion yuan at the beginning of the year[22] Business Segments and Operations - The company reported a significant drop in revenue from the ETC business segment, contributing to the overall revenue decline[10] - The ETC pre-installation business generated revenue of 18 million yuan in Q1 2022, with expectations for gradual growth in subsequent periods[19] - The AFC business segment has a sufficient order backlog, with revenue gradually being released despite some project delays due to COVID-19[19] - The company completed a share transfer and capital increase agreement, acquiring 51% of Guochuang Thermal Management[19] Research and Development - Research and development expenses for Q1 2022 were CNY 15,143,497.20, down 17.5% from CNY 18,377,671.71 in the same period last year[26] Other Notable Events - The company received government subsidies amounting to ¥1,630,563.59 during the reporting period, which are closely related to its normal business operations[6] - The company experienced a 310.99% increase in net cash flow from investing activities, totaling ¥62,646,147.32, primarily due to the maturity of financial products[13] - The company’s independent director passed away in 2022, impacting the board's composition[20] - The report was released by the Board of Directors on April 25, 2022[33]

Financial Performance - The company's revenue for Q3 2021 was ¥71,315,696, a decrease of 77.04% compared to the same period last year[4] - The net profit attributable to shareholders was a loss of ¥2,119,384, representing a decline of 103.28% year-on-year[4] - The basic earnings per share for Q3 2021 was -¥0.01, down 102.94% from the previous year[5] - The company experienced a 53.06% decline in revenue for the first nine months of 2021, totaling ¥451,117,872, primarily due to reduced demand for OBU products[11] - Total operating revenue for the third quarter was CNY 451,117,871.53, a decrease from CNY 961,119,552.15 in the previous period[22] - Net profit for the quarter was CNY 10,939,992.37, significantly lower than CNY 188,483,780.15 in the same period last year[23] - Basic earnings per share were CNY 0.06, down from CNY 1.00 in the same quarter last year[24] Cash Flow and Liquidity - The company reported a net cash flow from operating activities of ¥145,987,766, a significant improvement compared to a negative cash flow in the same period last year[11] - The company’s cash and cash equivalents decreased by 84.87% to -¥33,132,606, mainly due to cash inflows from operations during the reporting period[12] - Cash inflow from operating activities totaled CNY 655,023,504.89, down from CNY 1,032,028,539.16 in the previous period[27] - The net increase in cash and cash equivalents was -33,132,605.63 CNY, compared to -219,025,053.52 CNY in the previous period, showing a significant reduction in cash outflow[28] - The ending balance of cash and cash equivalents was 256,502,578.04 CNY, down from 332,676,302.87 CNY in the previous period[28] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,568,736,791, a decrease of 2.17% from the end of the previous year[5] - As of September 30, 2021, total current assets amounted to 1,952,660,221.52 yuan, a decrease from 2,068,867,337.37 yuan at the end of 2020[19] - The total liabilities as of September 30, 2021, are 874,866,946.53 yuan, down from 914,612,060.08 yuan at the end of 2020[20] - The total assets and equity amounted to CNY 2,568,736,791.31 and CNY 1,693,869,844.78 respectively, reflecting a slight decrease from the previous quarter[23] Research and Development - Research and development expenses increased by 36.79% to ¥105,457,077 due to higher technical service fees for OBU pre-installation[11] - Research and development expenses increased to CNY 105,457,077.13, compared to CNY 77,096,236.41 in the prior period, indicating a focus on innovation[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 19,381[14] - The largest shareholder, Zhang Liang, holds 28.37% of the shares, totaling 53,410,400 shares[14] Future Outlook - The company anticipates that the last quarter's operating performance will not improve, potentially triggering goodwill impairment[16] - The company is focusing on the replacement cycle of the 205 million existing market units, which typically spans 5-7 years[15] - The company is optimistic about future demand for RSU products driven by 5G infrastructure investments[15] Audit Status - The company did not undergo an audit for the Q3 report, indicating that the financial information is unaudited[3] - The report for the third quarter was not audited, which may affect the reliability of the financial data presented[30] Other Financial Metrics - The company recorded a significant increase in other payables, rising by 556.86% to ¥91,324,593 due to increased unpaid technical service and after-sales service fees[10] - The company recorded a significant increase in tax expenses, totaling CNY -4,914,294.79 compared to CNY 34,499,735.34 in the previous year[23] - Investment cash inflow was CNY 425,120,000.00, compared to CNY 590,000,000.00 in the prior year, indicating a decrease in investment activity[27] - The net cash flow from investment activities was -116,980,835.53 CNY, compared to -127,572,292.50 CNY in the previous period, indicating a slight improvement[28] - The total cash inflow from financing activities was 141,881,663.29 CNY, while cash outflow was 61,683,667.90 CNY, resulting in a net cash flow of -61,683,667.90 CNY, contrasting with a positive net cash flow of 53,210,366.51 CNY in the previous period[28]

Financial Performance - The company's operating revenue for the current period is ¥379,802,175.53, a decrease of 41.62% compared to ¥650,572,191.49 in the same period last year[25]. - The net profit attributable to shareholders for the current period is ¥13,236,999.28, down 89.32% from ¥123,968,035.60 in the previous year[25]. - The net profit after deducting non-recurring gains and losses is ¥6,171,525.49, a decline of 94.83% compared to ¥119,457,608.62 last year[25]. - The net cash flow from operating activities is ¥60,058,189.46, an increase of 116.68% from -¥360,071,276.06 in the same period last year[25]. - The total assets at the end of the current period are ¥2,562,996,897.38, a decrease of 2.39% from ¥2,625,755,069.24 at the end of the previous year[25]. - The net assets attributable to shareholders at the end of the current period are ¥1,695,012,943.34, down 0.88% from ¥1,709,989,100.81 at the end of the previous year[25]. - The company's operating revenue for the reporting period was ¥379,802,175.53, a decrease of 41.62% compared to ¥650,572,191.49 in the same period last year, primarily due to a significant decline in the ETC business segment[83]. - Operating costs decreased by 26.24% to ¥243,391,454.57 from ¥329,997,040.97, which was less than the revenue decline due to reduced gross margin in the ETC segment[83]. - Research and development expenses increased by 79.19% to ¥74,172,489.02 from ¥41,394,018.42, driven by the development of automotive-grade products[84]. - The company's total assets included cash and cash equivalents of ¥229,658,504.31, which accounted for 8.96% of total assets, down from 11.75% the previous year[91]. - The accounts receivable increased to ¥815,589,755.16, representing 31.82% of total assets, indicating poor recovery in the ETC business segment[91]. Market Conditions - The company reported a significant increase in AFC system integration and equipment manufacturing, driven by urban infrastructure projects, although market risks remain due to economic conditions and budget constraints in second and third-tier cities[5]. - The ETC industry saw a substantial decline in demand this year, with a total of 204 million users as of 2019, and the market is expected to normalize over the next two years[6]. - The overall economic environment and the impact of COVID-19 have led to slower project acceptance and settlement cycles, affecting liquidity and net asset returns[6]. - The company anticipates future market stability will depend on the replacement cycle of the existing market and the adoption of new models by manufacturers, influenced by 5G infrastructure investments[85]. - The company faces risks related to market expansion, particularly in the AFC and ETC product segments, which require competitive bidding to secure orders[124]. Research and Development - The company plans to enhance R&D investments in V2X devices to align with market demands for smart transportation infrastructure[6]. - The company emphasizes the importance of research and development, with a dedicated team of 108 professionals focused on core module and new product development[41]. - The company reported a significant focus on R&D, with 125 R&D personnel and a total of 234 patents, including 4 invention patents, 120 utility model patents, and 110 design patents[66]. - The company is focusing on R&D to enhance product offerings, including facial recognition and digital currency applications, to maintain market share in the AFC segment[124]. - The company is exploring partnerships with automotive manufacturers to develop customized products for the ETC segment, aiming to improve competitiveness[124]. Operational Challenges - The company faces increased operational costs due to rising salaries for IT and R&D personnel, impacting overall financial performance[7]. - The management team is under pressure due to performance-based agreements, which may affect stability if targets are not met[7]. - The company is experiencing pressure on gross margins due to rising raw material costs, which account for approximately 70% of the main business costs[125]. - The company is implementing measures to improve accounts receivable collection, including enhancing sales personnel assessments and forming a legal and financial collection team[128]. - The company is at risk of business stagnation due to tightening regulations on metro projects, which may affect future growth prospects[129]. Product Development and Innovation - The company focuses on the AFC system integration and ETC business, emphasizing self-developed core technologies and market competitiveness[33]. - The main products include automatic ticket vending machines, automatic ticket checkers, and automatic recharge machines, primarily used in urban rail transit systems[34]. - The AFC system is integrated with multiple technologies, including computer technology, network technology, and automatic control technology, indicating a high level of complexity and innovation in the products[40]. - The trend towards cloud-based AFC systems and the integration of internet payment technologies are expected to optimize resource utilization and reduce operational costs[49]. - The company has integrated various payment methods such as Alipay, WeChat, and UnionPay into its AFC system, reflecting a trend towards diversified payment options[51]. Corporate Governance and Shareholder Matters - No cash dividends or stock bonuses will be distributed to shareholders for this reporting period[8]. - The company held four shareholder meetings during the reporting period, with investor participation rates of 36.46%, 31.80%, 35.03%, and 29.64% respectively[133][134][135][136]. - No cash dividends, stock bonuses, or capital reserve transfers to increase share capital were planned for the semi-annual period[135]. - There were no changes in the company's board of directors, supervisors, or senior management during the reporting period[134]. - The company did not implement any equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period[137]. Legal and Compliance Issues - The company is involved in a lawsuit with Gaoxin Modern, claiming 90,104.21 yuan in overdue payments and penalties, with the first instance ruling in favor of the company[149]. - The company has ongoing litigation with Huzhou High-tech, claiming 1,127.11 million yuan, with a court hearing scheduled[150]. - The company is pursuing a claim against Shanghai Mingxiao for 520,548 yuan in overdue payments, with mediation proceedings ongoing[150]. - The company has a claim against Founder Aode for 652.17 million yuan, which is currently in bankruptcy reorganization, resulting in a suspension of litigation[150]. - The company is involved in a dispute with Ningde Huixiang over a contract worth 182.42 million yuan, with the first instance ruling in favor of the company[151]. Financial Management - The total amount of funds raised by the company is RMB 11,585 million, with a net amount of RMB 11,585 million after deducting fees[104]. - The cumulative amount of raised funds invested by the company is RMB 8,190 million, representing 91.00% of the total commitment for the acquisition of Beijing Juli Cash[107]. - The company has restricted assets totaling RMB 235,225,714.07, primarily due to guarantees and long-term loans secured by land and construction projects[95]. - The company’s financial assets include trading financial assets valued at RMB 265,000,000 at the end of the period[94]. - The company has not experienced significant changes in the measurement attributes of its main assets during the reporting period[94].

Financial Performance - The company's revenue for Q1 2021 was ¥144,374,950.67, a decrease of 49.29% compared to ¥284,728,157.32 in the same period last year[8] - Net profit attributable to shareholders was ¥5,032,750.00, down 87.98% from ¥41,856,856.28 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥1,906,640.85, a decline of 95.32% compared to ¥40,743,844.53 in the previous year[8] - Basic and diluted earnings per share were both ¥0.03, down 86.36% from ¥0.22 in the previous year[8] - Total revenue for Q1 2021 was approximately CNY 144.37 million, a decrease of 49.29% compared to CNY 284.73 million in the same period last year, primarily due to a significant decline in the ETC business segment[21] - Net profit for Q1 2021 was CNY 4.93 million, representing an 88.20% decrease from CNY 41.77 million year-on-year, largely attributed to a loss of CNY 19 million in the ETC business[20] - Total operating revenue for Q1 2021 was CNY 144,374,950.67, a decrease from CNY 284,728,157.32 in the previous period[50] - Net profit for Q1 2021 was CNY 4,928,764.24, significantly lower than CNY 41,772,572.50 in the same period last year[52] - Earnings per share for Q1 2021 were CNY 0.03, compared to CNY 0.22 in the previous year[53] Cash Flow and Assets - The net cash flow from operating activities was ¥51,978,553.04, a significant improvement of 115.93% from -¥326,360,332.37 in the same period last year[8] - Operating cash flow for Q1 2021 was CNY 51.98 million, a significant improvement from a negative CNY 326.36 million in the same period last year[22] - The company's total assets increased by 1.57% to CNY 2.67 billion from CNY 2.63 billion at the beginning of the year[19] - Total current assets as of March 31, 2021, amounted to approximately 2.1 billion yuan, an increase from approximately 2.07 billion yuan at the end of 2020[42] - The company's cash and cash equivalents increased to approximately 333 million yuan from approximately 326 million yuan at the end of 2020[42] - Cash and cash equivalents at the end of the period totaled CNY 295,620,615.82, up from CNY 145,200,038.58 at the end of the previous year[61] Liabilities and Equity - The company's total liabilities increased by 6.74% to CNY 950 million, primarily due to an increase in contract liabilities[19] - The total liabilities as of March 31, 2021, were approximately 951 million yuan, compared to approximately 915 million yuan at the end of 2020, reflecting an increase of about 3.9%[44] - Owner's equity increased to CNY 1,386,786,948.72 from CNY 1,359,006,143.06 in the previous period[48] Business Segments and Contracts - The AFC business segment generated a net profit of approximately CNY 26 million, driven by revenue recognition from the Shanghai Metro Line 15 AFC equipment[23] - The ETC business segment's sales volume and prices significantly declined due to a market demand drop and seasonal factors, impacting overall profitability[23] - The total amount of signed but unfulfilled contracts as of March 31, 2021, was approximately CNY 1.3 billion, with CNY 1 billion related to Jule Technology and CNY 1.2 billion related to Huaming Intelligent[24] - The company signed a major contract with MTR Corporation for the Hong Kong MTR CS025-18E renovation project, valued at approximately 28.38 million RMB[25] Management and Operational Challenges - Management expenses decreased by 67.07% to CNY 16.28 million, due to the absence of excess performance bonuses from the previous year[21] - The company faces challenges with large accounts receivable, particularly from metro owners and government clients, and plans to improve communication and payment tracking[29] - The company is experiencing a noticeable decrease in demand for ETC business bidding, highlighting market risks[29] - The decline in gross profit margin is attributed to the continuous decrease in the bidding price of RSU products and insufficient market promotion of ETC pre-installation policies[34] Research and Development - The company has not reported any significant changes in its core technology team or major R&D projects during the reporting period[27] - Research and development expenses for Q1 2021 were CNY 18,377,671.71, down from CNY 31,925,459.60 in the previous year[51] Investment Activities - The company reported an investment income of CNY 2,099,669.26, compared to CNY 249,587.40 in the previous period[51] - The cash outflow from investing activities was CNY 264,690,919.63, compared to CNY 237,984,307.14 in the previous year, indicating an increase in investment activities[60] - The net cash flow from investment activities was -17,401,787.61, an improvement from -67,500,000.00 in the previous period[64] Shareholder and Fundraising Information - The company has accumulated a total of 8.19 million RMB from its fundraising efforts, with a utilization rate of 91%[32] - The company has a remaining balance of 34.27 million RMB in fundraising, including interest income of 0.32 million RMB[33] - The company is considering adjusting the distribution ratio of excess rewards to Juyi Technology's original shareholders to stabilize operations and protect shareholder interests[34]

Financial Performance - The company achieved a net profit attributable to the parent company of 127 million yuan in 2020, a significant decline of approximately 54.19% compared to the previous year[6]. - The company's operating revenue for 2020 was ¥1,249,773,571.27, a decrease of 13.22% compared to ¥1,440,180,755.33 in 2019[23]. - The net profit attributable to shareholders for 2020 was ¥127,167,979.43, down 54.19% from ¥277,572,290.59 in 2019[23]. - The net cash flow from operating activities was negative at -¥98,691,562.50, a decline of 132.77% compared to ¥301,161,995.18 in 2019[23]. - Basic earnings per share decreased by 64.21% to ¥0.68 in 2020 from ¥1.90 in 2019[23]. - The company reported a significant drop in the weighted average return on equity to 7.71% in 2020 from 31.73% in 2019[23]. - The company experienced a decline in net profit after deducting non-recurring gains and losses, which was ¥106,927,565.40 in 2020, down 58.91% from ¥260,231,635.00 in 2019[23]. - The company reported a significant increase in non-operating income, with government subsidies contributing ¥9,944,129.55, accounting for 7.37% of total profit[129]. - The company reported a total revenue of RMB 20,656 million, with a gross profit margin of 49.00%[141]. - The company reported a total of RMB 3,810 million in bank deposits as of the report date[146]. Business Segments - The AFC business segment's revenue and net profit remained stable year-on-year, while the ETC business segment's net profit decreased by about 70% compared to 2019[6]. - The company focuses on two main business segments: AFC system integration for rail transit and ETC business for road traffic, with a strong emphasis on independent R&D and manufacturing[32]. - The company has developed a variety of AFC terminal devices, including ticket vending machines, ticket checking machines, and automatic recharge machines, which are essential for the automation of ticketing operations[33]. - The company is strategically developing cloud access control products and enhancing product diversification in the ETC product line[160]. Research and Development - The company plans to continue investing in R&D for ETC backend applications and vehicle networking to create future profit growth points[7]. - The company has accumulated 30 invention patents, 13 utility model patents, 10 design patents, and 38 software copyrights, showcasing its commitment to innovation and technology[40]. - The company’s R&D team consists of 96 professionals, focusing on core module development and new product innovation, which is crucial for maintaining competitive advantage[40]. - The company reported a significant increase in R&D expenses, totaling approximately 119.58 million RMB, which represents a 139.79% increase compared to the previous year[123]. - The company is investing CNY 200 million in R&D for new technologies, focusing on AI integration in its products[185]. Market Conditions and Competition - The company faces risks related to market competition and pricing pressures in the ETC sector, with the market space expected to be compressed in 2021[7]. - The AFC industry is experiencing rapid growth due to increased urbanization and government support for domestic equipment manufacturing, creating significant market opportunities for the company[42]. - The company is actively expanding into international markets, successfully entering countries like India and Malaysia[87]. - The company aims to expand its market presence in cities like Zhengzhou and Nanchang due to limited new line expansions in Shanghai[56]. Profit Distribution - The company announced a profit distribution plan, proposing a cash dividend of 1.5 yuan per 10 shares to all shareholders[10]. - The cash dividend per 10 shares was CNY 1.5, based on a total share capital of 188,265,025 shares[174]. - The company has a policy to distribute at least 10% of the annual distributable profit as cash dividends, contingent on the company's financial health and operational needs[170]. - The company distributed cash dividends of CNY 28,239,753.75 in 2020, representing 22.21% of the net profit attributable to ordinary shareholders[177]. Operational Efficiency - The company operates on a made-to-order production model, aligning production with specific project requirements to ensure quality and customization[38]. - The company has maintained a project management model that ensures comprehensive tracking of projects from bidding to installation, enhancing operational efficiency[38]. - The company aims to enhance the reliability of the AFC system by categorizing different payment methods for efficient fare deduction[53]. - The company anticipates a reduction in operating costs by 15% through efficiency improvements and cost management strategies[185]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 20% to CNY 1.8 billion, driven by new product launches and market expansion[186]. - The company plans to continue enhancing market expansion, new product development, and management optimization in 2021 to improve overall competitiveness[104]. - The company aims to increase R&D investment in core modules, IoT, and V2X products to enhance competitiveness in the rail and road transportation sectors[161]. - The company is exploring market expansion opportunities to increase its competitive edge in the industry[190]. Compliance and Governance - The company is committed to transparent information disclosure regarding related party transactions to protect the interests of non-related shareholders[192]. - The company has established measures to avoid competition with its subsidiaries, ensuring no direct or indirect competition in the business operations[190]. - The company emphasizes the importance of fair pricing in related party transactions, ensuring compliance with relevant laws and regulations[192]. - The company is actively managing its commitments and ensuring compliance with performance targets to facilitate shareholder interests[178].

Financial Performance - Net profit attributable to shareholders increased by 390.36% to CNY 64,517,030.34 for the reporting period[7] - Operating revenue surged by 631.18% to CNY 310,547,360.66 compared to the same period last year[7] - Basic earnings per share rose by 240.00% to CNY 0.34 for the reporting period[7] - The net cash flow from operating activities was CNY 216,325,087.94, an increase of 784.05% compared to the same period last year[7] - The weighted average return on equity increased by 87.94% to 3.74% for the reporting period[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 1,145.00% to CNY 61,909,458.64[7] - Operating profit for the period was ¥78,217,334.79, compared to ¥15,254,412.64 in the previous year, reflecting a growth of 413.5%[40] - Net profit attributable to shareholders was ¥64,517,030.34, up from ¥13,157,009.26, marking an increase of 389.5% year-over-year[40] - The net profit for the third quarter reached ¥188,483,780.15, compared to ¥45,570,526.30 in the previous year, marking an increase of about 313%[48] Assets and Liabilities - Total assets decreased by 9.52% to CNY 2,876,951,079.42 compared to the end of the previous year[7] - As of September 30, 2020, the total assets of Shanghai Huaming Intelligent Terminal Equipment Co., Ltd. amounted to CNY 2,876,951,079.42, a decrease from CNY 3,179,684,072.66 at the end of 2019[30] - The company's current assets decreased to CNY 2,348,116,222.44 from CNY 2,678,222,562.09, reflecting a decline of approximately 12.3%[30] - Total liabilities decreased to CNY 1,109,502,867.19 from CNY 1,587,352,310.26, a reduction of approximately 30%[32] - Total liabilities increased to ¥653,100,455.44 from ¥421,534,399.41, representing a growth of 55%[39] - Total equity rose to ¥1,372,323,929.21, up from ¥1,350,741,978.02, showing a modest increase of 1.6%[39] Cash Flow - The company reported a net cash outflow from operating activities of ¥143,746,188.12, a decline of 322.33% compared to the previous year, attributed to higher payments to suppliers[20] - Cash and cash equivalents dropped to CNY 369,356,733.17 from CNY 575,012,383.22, representing a decrease of about 35.8%[30] - The net cash flow from operating activities was -34,054,344.51 CNY, a decrease from 67,481,112.08 CNY in the previous period[58] - Total cash inflow from investment activities was 612,734,600.00 CNY, compared to 486,000,000.00 CNY in the prior period[60] Research and Development - Research and development expenses surged by 373.75% to ¥77,096,236.41, driven by the integration of

Financial Performance - The company's operating revenue for the reporting period reached ¥650,572,191.49, representing a 230.11% increase compared to ¥197,078,050.99 in the same period last year[25]. - Net profit attributable to shareholders was ¥123,968,035.60, a significant increase of 277.28% from ¥32,858,735.16 in the previous year[25]. - The net profit after deducting non-recurring gains and losses was ¥119,457,608.62, up 324.15% from ¥28,163,842.50 year-on-year[25]. - The basic earnings per share increased to ¥0.660, reflecting a growth of 175.00% compared to ¥0.24 in the same period last year[25]. - The company reported a negative net cash flow from operating activities of ¥360,071,276.06, a decline of 996.02% compared to the previous year[25]. - The company reported a net cash outflow of ¥378,279,679.02 in cash and cash equivalents, a 424.36% increase in outflow compared to the previous year, largely influenced by operational cash flow issues[89]. - The company achieved an operating income of 650 million yuan and a net profit attributable to the parent company of approximately 124 million yuan, significantly increasing compared to the same period last year[84]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,778,191,429.81, a decrease of 12.63% from ¥3,179,684,072.66 at the end of the previous year[25]. - The net assets attributable to shareholders increased by 6.01% to ¥1,687,578,389.59 from ¥1,591,850,107.74 at the end of the previous year[25]. - Total liabilities reduced to ¥1,090,231,197.43 from ¥1,587,352,310.26, a decrease of about 31.29%[192]. - The company's overall asset-liability ratio is below 40%, indicating strong financial capability to support large-scale AFC projects[77]. - The company's total liabilities to equity ratio as of June 30, 2020, was approximately 0.35, indicating a relatively stable leverage position compared to previous periods[197]. Research and Development - The company has developed over 30 invention patents, 13 utility model patents, and 10 design patents, showcasing its commitment to innovation in AFC terminal equipment[41]. - R&D expenses increased by 253.53% compared to the previous year, primarily due to the expansion of the ETC business segment[86]. - Research and development expenses for the first half of 2020 were CNY 41,394,018.42, significantly higher than CNY 11,708,718.17 in the same period of 2019, representing an increase of about 253.5%[198]. - The company has a dedicated R&D team of 108 professionals focused on developing core modules and new products, enhancing its technological capabilities[41]. Market Presence and Strategy - The company plans to actively expand its market presence through bidding and participation in new infrastructure projects, particularly in the rail transit sector, in response to national policies[7]. - The company has received pre-installation ETC notifications from approximately 20 mainstream automotive manufacturers, including FAW-Volkswagen and Geely, although market penetration and winning rates remain uncertain[7]. - The company plans to enhance its market share in the automotive ETC pre-installation market and invest in new technologies such as millimeter-wave radar[83]. - The urban rail transit construction market in China is rapidly expanding, driven by government support for domestic equipment manufacturing and increasing urbanization[43]. Challenges and Risks - The company has faced significant cash flow risks due to large accounts receivable, amounting to 930 million, primarily from ETC business clients, which have been affected by delayed payments[10]. - The company anticipates that the new regulations regarding ETC vehicle installations will create uncertainties in market competition and product quality assurance[9]. - The gross profit margin is under pressure due to rising raw material costs, with direct material costs accounting for approximately 70% of the main business costs[118]. - The company has faced challenges in cash flow due to poor operating returns and supplier payment delays in the ETC business[72]. Shareholding and Corporate Governance - The total number of shares before the changes was 188,265,000, with 58.90% being restricted shares[154]. - After the changes, the number of restricted shares decreased to 96,549,550, representing 51.28% of the total[154]. - The company plans to continue monitoring shareholding changes and will comply with regulatory requirements for disclosure[156]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[163]. Product Development and Innovation - The company is focusing on the development of V2X communication devices in response to the growing demand for smart transportation infrastructure as outlined in national strategies[9]. - The AFC terminal equipment integrates multiple advanced technologies, including computer technology, network technology, and automatic control technology, reflecting the complexity and high standards of the industry[40]. - The company is committed to maintaining innovation in response to market demands for virtual ticketing and interconnectivity[53]. - The ETC products developed by the company effectively suppress adjacent lane interference and feature an OBU zero wake-up function, addressing communication issues in electronic toll collection systems[55].