哈尔滨中飞新技术股份有限公司 2020 年第三季度报告全文 哈尔滨中飞新技术股份有限公司 2020 年第三季度报告 2020-157 2020 年 10 月 1 哈尔滨中飞新技术股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人朱世会、主管会计工作负责人张威及会计机构负责人(会计主管 人员)王玮玮声明：保证季度报告中财务报表的真实、准确、完整。 2 哈尔滨中飞新技术股份有限公司 2020 年第三季度报告全文 | 项目 | 年初至报告期期末金额 | 说明 | | --- | --- | --- | | 非流动资产处置损益（包括已计提资产减值准备的冲销部分） | | 52,947.86 固定资产处置损益 | | 计入当期损益的政府补助（与企业业务密切相关，按照国家统 | 3,487,614.56 | 与资产相关的政府补助本期确 认 182.48 万元，政府奖励补助 | | 一标准定额或定量享受的 ...

Fundraising and Financial Strategy - The company plans to raise 11 billion RMB for its fundraising project, with 9 billion RMB still needed through debt financing[15]. - The company has conducted thorough research and planning for its fundraising projects, but uncertainties remain regarding timely implementation and expected returns[12]. - The company has a funding gap of 900 million yuan for its fundraising project, which is expected to be financed through debt[74]. - The company plans to invest RMB 5 billion in the infrared optics and laser device industrialization project, with a total project investment of RMB 20 billion[114]. - The company intends to issue 24.3025 million shares in a non-public offering, with the same number of shares being subscribed by Mr. Zhu Shihui[115]. Revenue and Profitability - The company's operating revenue for the current period reached ¥133,789,510.93, representing a 143.02% increase compared to ¥55,053,341.22 in the same period last year[29]. - The net profit attributable to shareholders was ¥4,731,493.38, a significant turnaround from a loss of ¥17,348,958.15 in the previous year, marking a 127.27% increase[29]. - The company achieved a total revenue of CNY 133.79 million in the reporting period, representing a year-on-year increase of 143.02%[48]. - Revenue from high-performance aluminum alloy materials was CNY 92.29 million, accounting for 68.98% of total revenue, with a year-on-year growth of 67.64%[45][51]. - The infrared optical and laser device segment generated revenue of CNY 41.50 million, contributing 31.02% to total revenue[45][50]. Cash Flow and Assets - The net cash flow from operating activities was negative at ¥-142,248,787.34, a decline of 1,692.93% compared to ¥8,929,996.02 in the same period last year[29]. - The company's cash and cash equivalents increased by 6,320.02% due to funding for new projects[40]. - Accounts receivable rose by 221.96% due to sales of infrared optical and laser materials[40]. - Inventory increased by 108.78% as a result of procurement for infrared optical and laser materials[40]. - The total assets increased by 103.82% to ¥1,003,897,505.28 from ¥492,547,024.82 at the end of the previous year[29]. Business Expansion and Market Risks - The company is expanding its operations to Chuzhou, Anhui Province, which may expose it to risks related to environmental changes[9]. - The company is expanding into the infrared optics and laser device market, with a new project in Anhui aimed at producing infrared optical materials and devices[37]. - The company plans to establish dual main businesses in high-performance aluminum alloy materials and infrared optics and laser devices, enhancing its market presence[38]. - The infrared optics and laser device business is expected to face market acceptance risks due to its high-tech nature[11]. - The company acknowledges potential risks from the actual controlling shareholder's influence on management decisions[7]. Management and Operational Challenges - The company has established a sound management system, but the dual business model may increase operational and risk management challenges[8]. - The company has identified management risks associated with rapid scale expansion and the need for improved coordination across departments[5]. - The company faces risks related to obtaining necessary certifications for its products in the medical field, which could limit market expansion[16]. - The company faces management risks due to rapid scale expansion, requiring adjustments in resource integration, market development, and internal controls[72]. - The company has established management systems to mitigate risks from controlling shareholders, but potential influence from the actual controller remains a concern[72]. Shareholder Relations and Commitments - The company will not distribute cash dividends or issue bonus shares[17]. - The company has committed to not transferring shares for twelve months following the acquisition report announcement[81]. - The company reported a commitment from shareholder Wang Qiang not to reduce his holdings in Zhongfei shares for the next 12 months, indicating confidence in the company's future prospects[82]. - The company is focused on financial investment rather than seeking control over Zhongfei, which may stabilize shareholder relations[83]. - The company emphasizes compliance with all commitments made by its shareholders to maintain stability and investor confidence[85]. Research and Development - The company is actively investing in R&D, with a reported R&D expenditure of CNY 2.35 million, a decrease of 21.84% from the previous year[48]. - The company has entered into agreements to acquire 47 patents related to the infrared optics and laser device project, including 18 invention patents and 28 utility model patents[115]. - The company has established a focus on the research, production, and sales of optical materials and components, including infrared optical components[130]. Legal and Compliance - The company has not encountered any major litigation or arbitration matters during the reporting period, reflecting a stable legal environment[104]. - The financial report for the first half of 2020 has not been audited, which may affect the perception of financial reliability[102]. - The company has committed to adhering to relevant legal procedures and disclosure obligations for any future strategic changes[99]. Market Outlook and Future Plans - The company has provided a positive outlook for the second half of 2020, projecting a revenue growth of 25% based on current market trends and user acquisition strategies[91]. - The company plans to continue expanding its market presence and is exploring new product development opportunities[137]. - The company has not provided specific future performance guidance or outlook in the available documents[127].

Financial Performance - Total revenue for Q1 2020 was ¥29,611,834.84, representing a 30.35% increase compared to ¥22,716,341.63 in the same period last year[8] - Net profit attributable to shareholders was -¥4,616,747.19, an improvement of 56.04% from -¥10,501,132.53 year-on-year[8] - Basic earnings per share were -¥0.0509, a 56.01% improvement from -¥0.1157 in the same period last year[8] - The net profit decreased by 56.04% compared to the same period last year due to the impact of the pandemic[19] - The net loss for Q1 2020 was CNY 4,616,747.19, an improvement from a net loss of CNY 10,501,132.53 in Q1 2019, reflecting a reduction in losses by approximately 56.1%[46] - The total comprehensive loss for Q1 2020 was CNY -4,616,747.19, compared to CNY -10,501,132.53 in Q1 2019, indicating a decrease in comprehensive losses by approximately 56.1%[47] Cash Flow - Net cash flow from operating activities was -¥11,046,176.48, a decline of 168.27% compared to ¥16,179,769.37 in the previous year[8] - The cash flow from operating activities showed a net outflow of 11,046,176.48 CNY, a 168.27% decrease compared to the previous year, mainly due to higher sales receipts than procurement payments[18] - Total cash inflow from operating activities was 39,654,931.37 CNY, while cash outflow was 50,701,107.85 CNY, resulting in a net cash flow deficit[54] - Cash flow from investment activities showed a net outflow of -3,381,533.44 CNY, compared to a net inflow of 125,784.00 CNY in the previous period[55] - The company reported a cash flow deficit in operating activities, indicating challenges in maintaining positive cash flow amidst increased expenditures[54] Assets and Liabilities - Total assets at the end of the reporting period were ¥499,744,588.16, up 1.46% from ¥492,547,024.82 at the end of the previous year[8] - Current liabilities rose to CNY 110,329,220.80, up from CNY 97,904,427.07, indicating an increase of about 12.9%[38] - Non-current liabilities decreased slightly to CNY 39,919,497.49 from CNY 40,529,980.69, a decline of approximately 1.5%[38] - The company's total equity decreased to CNY 349,495,869.87 from CNY 354,112,617.06, a decline of approximately 1.3%[39] - Total liabilities amounted to CNY 138,434,407.76, with current liabilities at CNY 97,904,427.07 and non-current liabilities at CNY 40,529,980.69[61] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 5,760[12] - The largest shareholder, Yang Zhifeng, holds 20.50% of the shares, amounting to 18,600,000 shares, with 13,950,000 shares pledged[12] Research and Development - Research and development expenses dropped by 89.12% to 329,394.32 CNY, attributed to delays in project progress caused by the pandemic[18] - Research and development expenses decreased significantly to CNY 329,394.32 from CNY 3,028,619.09, a reduction of approximately 89.1%[45] Fundraising and Investments - The company plans to raise up to 43,890.315 CNY through a non-public offering of up to 24,302,500 shares, aimed at funding the "Infrared Optics and Laser Device Industrialization Project"[22] - The total amount of raised funds is CNY 162.03 million, with no new investments made in the current quarter[27] - The company has not changed the use of raised funds, with a cumulative investment of CNY 162.03 million[27] Operational Metrics - The company completed 16.46% of its annual revenue target of 179 million CNY in the first quarter[20] - The gross profit margin improved to 3.82%, an increase of 5.35% compared to the same period last year, driven by product structure optimization[19] - Total operating costs amounted to CNY 34,814,473.38, compared to CNY 33,312,541.41 in the previous year, indicating a rise of about 4.5%[45] Financial Stability - The company maintains a strong capital reserve of CNY 188,091,648.97, which supports its financial stability[61] - The company has a short-term loan of CNY 55,000,000.00, indicating reliance on external financing for operational needs[61] Other Financial Information - The company reported other income of CNY 1,046,267.49, up from CNY 608,267.49 in the previous year, marking an increase of about 72.1%[45] - The company experienced a decrease in financial expenses to CNY 979,079.84 from CNY 1,412,755.62, a decline of approximately 30.6%[45] - The company has not encountered any issues with the use and disclosure of raised funds[29]

Financial Performance - In 2019, the company's sales revenue in the nuclear sector was CNY 2.6006 million, a decrease of 94.89% year-on-year, while non-nuclear sector sales revenue reached CNY 126.5338 million, an increase of 31.59% year-on-year[5]. - The company reported a net profit attributable to shareholders of CNY -112.4037 million in 2019, indicating a significant loss compared to the previous year[7]. - The company's operating revenue for 2019 was ¥129,134,394, a decrease of 12.19% compared to ¥147,054,140 in 2018[21]. - The net profit attributable to shareholders was -¥112,403,653, reflecting a significant decline of 9,475.58% from a profit of ¥1,382,067.28 in 2018[21]. - The total assets at the end of 2019 were ¥492,547,024, down 26.03% from ¥665,886,307 at the end of 2018[21]. - The net assets attributable to shareholders decreased by 24.15% to ¥354,112,617 from ¥466,880,939 in 2018[21]. - The basic and diluted earnings per share were both -¥1.2386, a decrease of 9,483.33% from ¥0.0152 in 2018[21]. - The company reported a quarterly operating revenue of ¥37,395,370.04 in Q4 2019, showing a growth trend throughout the year[24]. - The net profit attributable to shareholders in Q4 2019 was -¥87,007,895.41, indicating ongoing financial challenges[24]. - The company received government subsidies amounting to ¥2,890,638.28 in 2019, down from ¥11,853,870.00 in 2018[29]. Asset Management - The company recognized an asset impairment of CNY 59.5498 million in 2019, reflecting the challenges in the nuclear market and the need for adjustments in revenue forecasts[6]. - The company has recognized asset impairment and inventory write-downs totaling over 69.95 million yuan for the year due to declining market conditions[39]. - The company has established an independent and complete asset structure, primarily consisting of current assets such as cash, inventory, and accounts receivable, as well as intangible assets like patents and land, and fixed assets including production plants and machinery[173]. - The book value of fixed assets as of December 31, 2019, was RMB 317 million, with a significant decline in sales revenue from high-margin nuclear products by 94.89% compared to the previous year, leading to operational losses[194]. - The company recognized a fixed asset impairment loss of RMB 59.55 million due to adverse market demand fluctuations in the nuclear sector and changes in product structure[194]. Strategic Initiatives - The company plans to raise CNY 5 billion through a non-public offering to fund the "Infrared Optics and Laser Device Industrialization Project," with a total investment of CNY 2 billion for the project[8]. - The company is adjusting its product structure to increase focus on non-nuclear products due to declining demand in the nuclear sector[5]. - The company is exploring market expansion opportunities in the non-nuclear sector to mitigate risks associated with its reliance on nuclear industry clients[5]. - The company has initiated a strategic investment partnership with Yuebang Investment and Mr. Zhu Shihui, who has extensive resources in the rare metal and optical materials sectors[41]. - The company’s new strategic focus includes expanding into the infrared optics and laser device markets, leveraging the expertise of its new controlling shareholder[82]. Shareholder and Dividend Policy - The company has not distributed any cash dividends or bonus shares for the year, reflecting its focus on capital preservation amid financial challenges[9]. - The total distributable profit for the year was 56,223,733.60 yuan, with no cash dividends or stock bonuses proposed[95]. - The board proposed a capital reserve increase of 5 shares for every 10 shares held, based on a total share capital of 90,750,000 shares as of December 31, 2019[92]. - The cash dividend total for 2019 was 0 yuan, reflecting the company's focus on long-term strategic development[96]. - The company emphasized the importance of protecting the interests of minority shareholders in its dividend policy[92]. Management and Governance - The new controlling shareholder, Zhu Shihui, has over 20 years of experience in the rare metal industry and controls 30 companies, indicating a strategic shift in management[8]. - The company has a diverse board with members having extensive backgrounds in various industries, enhancing its strategic direction[149]. - The overall corporate governance structure has been strengthened with the appointment of new independent directors to ensure compliance and transparency[148]. - The company has maintained independence in operations, personnel, assets, and finances, with no reliance on the controlling shareholder for business activities[172]. - The company has established internal control measures to ensure accurate financial reporting and compliance with accounting standards[192]. Research and Development - The company has developed new high-value-added aluminum alloy products, including ZF008, ZF68, and ZM82, to address customer needs[39]. - The company conducted 21 R&D projects in 2019, with significant advancements in high-strength aluminum alloy production processes[57]. - Investment in R&D increased by 10% in 2019, totaling RMB 100 million, focusing on advanced materials technology[157]. - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market reach, with a budget of RMB 300 million allocated for this purpose[157]. Operational Challenges - The company faces risks related to the ongoing dependence on the nuclear sector and potential further declines in profit if market conditions do not improve[7]. - Management indicated that the expected returns from fundraising projects did not meet expectations, contributing to liquidity issues and increased operational losses[194]. - The company is facing challenges in accurately forecasting future cash flows due to significant policy impacts on operations, leading to uncertainty in asset recoverability assessments[194]. - The company experienced a change in leadership with the resignation of Chairman Yang Zhifeng and several board members in September 2019 due to personal reasons[147]. Employee and Compensation - The total number of employees in the company is 306, with 220 in the parent company and 86 in major subsidiaries[163]. - The company has established a comprehensive compensation system that emphasizes incentive, competitiveness, and fairness[164]. - The total remuneration for directors and senior management during the reporting period amounted to CNY 2,830,997.74[162]. - The company has not granted any stock incentives to directors and senior management during the reporting period[162].

Financial Performance - Operating revenue for the reporting period was CNY 36,685,683.56, representing an increase of 28.25% year-on-year[7] - Net profit attributable to shareholders was a loss of CNY 8,046,800.31, a decline of 75.21% compared to the same period last year[7] - Basic earnings per share were CNY -0.0887, a decrease of 75.24% compared to the same period last year[7] - Total operating revenue for Q3 2019 was CNY 36,685,683.56, an increase of 28.5% compared to CNY 28,605,933.80 in the same period last year[38] - Total operating costs for Q3 2019 were CNY 45,797,892.98, up 27.5% from CNY 35,925,463.57 in the previous year[38] - Net loss for Q3 2019 was CNY 8,046,800.31, compared to a net loss of CNY 4,592,592.79 in Q3 2018, representing a 75.5% increase in losses[39] - The company reported an operating profit of CNY -8,144,675.09 for Q3 2019, worsening from CNY -5,483,450.48 in the same period last year[39] - The total comprehensive loss for Q3 2019 was CNY -8,046,800.31, compared to CNY -4,592,592.79 in Q3 2018[40] - The company reported a net loss of ¥25,395,758.46, compared to a net profit of ¥911,953.34 in the same period last year[47] - Operating profit was negative at ¥25,629,406.67, a significant decline from a profit of ¥242,964.96 in the previous period[47] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 32,441,023.99, an increase of 11,680.94% year-on-year[7] - Cash flow from operating activities was ¥110,027,190.72, down from ¥118,432,675.22 in the previous period[54] - The net cash flow from operating activities for Q3 2019 was CNY 32,441,023.99, a significant increase compared to CNY 275,368.80 in Q3 2018, reflecting a strong operational performance[55] - Total cash inflow from operating activities reached CNY 129,058,585.52, while cash outflow was CNY 96,617,561.53, resulting in a net cash inflow of CNY 32,441,023.99[55] - The company reported a net cash outflow from investing activities of CNY -1,453,619.89, indicating increased investment in fixed assets and long-term assets[56] - Cash inflow from financing activities was CNY 4,000,000.00, while cash outflow totaled CNY 61,997,910.35, leading to a net cash outflow of CNY -57,997,910.35[56] - The ending cash and cash equivalents balance decreased to CNY 3,325,807.85 from CNY 10,185,815.57 in the previous year, indicating liquidity challenges[56] Assets and Liabilities - Total assets at the end of the reporting period were CNY 587,292,257.73, a decrease of 11.80% compared to the previous year[7] - Total current assets decreased to ¥167,165,883.89 from ¥233,273,064.25, a decline of approximately 28.3% year-over-year[29] - Total liabilities decreased to ¥145,988,576.28 from ¥199,005,368.03, a decline of approximately 26.7%[30] - Non-current assets slightly decreased to ¥420,126,373.84 from ¥432,613,243.10, a decline of approximately 2.9%[29] - The company's retained earnings decreased to ¥143,405,216.62 from ¥168,982,474.49, a decline of approximately 15.2%[31] - The total equity attributable to shareholders decreased to ¥441,303,681.45 from ¥466,880,939.32, a reduction of about 5.5%[31] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 8,468[11] - The largest shareholder, Yang Zhifeng, holds 20.50% of the shares, amounting to 18,600,000 shares, which are pledged[11] - The company completed the transfer of shares and control to Guangdong Yebang Investment Management Co., holding 6.832% of the total share capital[17] Other Financial Metrics - The weighted average return on equity was -1.81%, down by 1.08% from the previous year[7] - The company reported non-recurring gains and losses totaling CNY 1,837,168.61 for the year-to-date[8] - Research and development expenses for Q3 2019 were CNY 759,961.28, a decrease of 35.4% from CNY 1,177,823.47 in Q3 2018[38] - Financial expenses for Q3 2019 were CNY 1,056,022.70, down 44.0% from CNY 1,892,723.55 in the previous year[38] - Other income for Q3 2019 was CNY 708,267.49, an increase of 16.5% compared to CNY 608,267.50 in Q3 2018[38] - Research and development expenses were ¥3,762,363.38, an increase of 12.1% from ¥3,354,801.51 in the previous period[51] - Other income for the period was ¥1,924,802.47, slightly up from ¥1,824,802.50 in the previous period[51] Market Outlook - The company expects a cumulative net profit loss for the year due to fluctuations in market demand for nuclear products and low overall gross profit margin[22] - The company did not engage in any repurchase transactions during the reporting period[12] - The company did not experience any violations regarding external guarantees during the reporting period[23] - The company did not undergo an audit for the Q3 2019 report, which may affect the reliability of the financial data presented[61]

Financial Performance - The company's revenue from nuclear-related products was only 1.1271 million yuan, accounting for 2.05% of total revenue, a decrease of 97.13% compared to the same period last year[6]. - The net profit after deducting non-recurring gains and losses was -18.5907 million yuan, a year-on-year decrease of 564.69%[8]. - Total revenue for the reporting period was ¥55,053,341.22, a decrease of 35.18% compared to the same period last year[22]. - Net profit attributable to shareholders was -¥17,348,958.15, representing a decline of 415.18% year-on-year[22]. - Basic and diluted earnings per share were both -¥0.1912, down 414.99% year-on-year[22]. - The gross profit margin decreased by 28.97% year-on-year, primarily due to a significant decline in revenue from nuclear-related products[38]. - The company reported a net loss of ¥17,348,958.15 in the first half of 2019, compared to a net profit of ¥5,504,546.13 in the first half of 2018[123]. - The company reported a comprehensive income total of -15,188,135.48 yuan for the current period, indicating a significant loss[146]. Cash Flow and Assets - Operating cash flow for the period was ¥8,929,996.02, an increase of 29.43% from the previous year[22]. - The company reported a cumulative investment of RMB 40,554.59 million in committed investment projects as of June 30, 2019[50]. - The company's cash and cash equivalents decreased from 33,080,130.95 RMB at the end of 2018 to 9,699,515.04 RMB by June 30, 2019, a decline of approximately 70.7%[111]. - The ending balance of cash and cash equivalents was CNY 4,965,509.91 at the end of the first half of 2019, down from CNY 20,256,933.09 at the end of the first half of 2018, a decrease of approximately 75.6%[132]. - Total assets at the end of the reporting period were ¥638,574,221.71, a decrease of 4.10% from the end of the previous year[22]. - The company’s total assets included RMB 116,643,369.94 in inventory, representing an increase of 3.13% compared to the previous year[44]. Market and Product Development - The company is expanding its product structure to include military and civilian non-nuclear fields due to changes in the nuclear industry[6]. - The company has implemented strategies to expand into military and civilian markets in response to fluctuations in nuclear product demand[29]. - The company is actively developing new specifications for nuclear fuel processing equipment, with positive feedback on trial sales of new materials[35]. - The company plans to expand its market presence, focusing on new product development and technological advancements[140]. - The company has initiated a strategy for mergers and acquisitions to enhance its competitive edge in the market[141]. Financial Management and Strategy - The company plans not to distribute cash dividends or issue bonus shares[9]. - The company has not made any changes to the fundraising projects during the reporting period[52]. - The company has not engaged in any entrusted financial management or derivative investments during the reporting period[53][54]. - The company has not reported any new product launches or technological advancements in this period[145]. - The company has not disclosed any new strategic initiatives in this half-year report[145]. Risks and Challenges - The company has a high dependency on the nuclear fuel processing equipment sector, which poses risks due to market demand fluctuations[8]. - The company is subject to risks from potential adjustments in national nuclear industry policies[7]. - The company expects to continue operating at a loss until the end of the next reporting period[60]. - The company anticipates a cumulative net loss of RMB 2,600 million for the year, representing a significant increase in losses compared to the previous year's expected loss of RMB 2,100 million[60]. Shareholder Information - The total number of shares is 90,750,000, with 21.17% being restricted shares and 78.83% being unrestricted shares[94]. - The largest shareholder, Yang Zhifeng, holds 27.33% of the shares, totaling 24,800,000 shares, with 18,600,000 shares being restricted[96]. - The number of common shareholders at the end of the reporting period is 10,745[96]. Compliance and Governance - The half-year financial report has not been audited[70]. - The financial report indicates a significant increase in user data, with a growth rate of 15% year-over-year[139]. - The company’s financial statements comply with the latest accounting standards and accurately reflect its financial position and performance[166].

证券代码：300489 证券简称：中飞股份 公告编号：2019-050 哈尔滨中飞新技术股份有限公司 关于参加投资者网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流，哈尔滨中飞新技术股份有限公司（以下 简称"公司"）将参加由黑龙江省上市协会、深圳市全景网络有限公司共同举办 的"2019 年黑龙江省上市公司投资者网上集体接待日"活动，现将有关事项公 告如下： 本次集体接待日活动将通过深圳市全景网络有限公司提供的互联网平台举 行，投资者可以登陆"全景•路演天下"网站（http://rs.p5w.net）参与公司本 次投资者集体接待日活动,时间为 2019 年 6 月 19 日（周三）14:00 至 16:30。 届时公司总经理龚涛先生、董事会秘书杨宗璇先生和财务总监张威女士将通 过网络在线问答互动的形式，与投资者就公司治理、发展经营情况、融资情况和 可持续发展等投资者关注的问题进行交流。期间，公司高管将全程在线，通过全 景网投资者关系互动平台实时回答投资者的提问。 欢迎广大投资者积极参与。 特此公告。 哈尔滨 ...

Financial Performance - In 2018, the company's sales revenue from the nuclear sector was CNY 50.89 million, a year-on-year increase of 4.3%, while non-nuclear sales revenue reached CNY 96.16 million, up 1.16%[6]. - The company's net profit after deducting non-recurring gains and losses for 2018 was CNY -8.58 million, a decline of 214.10% year-on-year[7]. - The company's operating revenue for 2018 was ¥147,054,140.15, representing a 2.22% increase compared to ¥143,853,440.54 in 2017[21]. - The net profit attributable to shareholders for 2018 was ¥1,382,067.28, a significant decrease of 88.97% from ¥12,525,749.04 in 2017[21]. - The net cash flow from operating activities for 2018 was ¥23,356,484.25, an increase of 182.96% from -¥28,153,743.72 in 2017[21]. - The overall gross margin decreased by 13.82% compared to the previous year, indicating challenges in maintaining profitability amidst market changes[38]. - The company reported a total comprehensive income of ¥1,382,067.28, compared to ¥12,525,749.04 in the previous year[200]. Government Support and Subsidies - Government subsidies received by the company from 2016 to 2018 were CNY 10.58 million, CNY 2.25 million, and CNY 0.92 million respectively, significantly impacting profit levels[9]. - The company reported a government subsidy of ¥11,853,870.00 in 2018, compared to ¥6,652,697.91 in 2017[28]. - The company's future outlook includes potential risks related to government subsidies, which may not be sustainable[9]. Product and Market Dynamics - The company has a high dependency on the nuclear fuel processing equipment sector, particularly on its main customer, China Nuclear Mechanical Company, which poses risks to sales revenue due to market fluctuations[7]. - The company’s product structure has shifted, with a significant decrease in high-margin nuclear product sales and an increase in lower-margin civilian non-nuclear products[7]. - The proportion of revenue from non-nuclear sectors reached 65.39%, indicating a significant shift in product structure due to market demand fluctuations[38]. - The company developed 53 new customers in 2018, resulting in orders of 1,030 tons and a revenue contribution of CNY 22.48 million, accounting for 24% of total orders[38]. - The company is actively expanding into new business areas, including the development of radar monitoring systems for anti-drone applications[39]. Research and Development - The company has applied for a total of 32 patents, including 9 invention patents and 23 utility model patents, reflecting its strong focus on R&D[35]. - The total R&D expenditure for 2018 was ¥5,734,156.83, accounting for 3.90% of the operating revenue, down from 4.81% in 2017[57]. - The company successfully developed a new aluminum alloy for tool manufacturing, achieving quality comparable to imported products, thus reducing costs for users[56]. - The company has initiated small-scale trial sales of new specification materials for nuclear fuel processing equipment, with positive feedback received in 2018[79]. Financial Position and Assets - The total assets at the end of 2018 were ¥665,886,307.35, reflecting a 0.55% increase from ¥662,246,015.20 at the end of 2017[21]. - The net assets attributable to shareholders at the end of 2018 were ¥466,880,939.32, a slight increase of 0.04% from ¥466,678,621.37 at the end of 2017[21]. - Cash and cash equivalents increased by 32.77% year-on-year, primarily due to a decrease in cash outflow for purchasing goods compared to 2017[34]. - The company's total assets were reported at ¥603,368,181.24, down from ¥605,051,100.24[199]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 0.02 per 10 shares, with no bonus shares issued[9]. - The proposed cash dividend for 2018 is RMB 0.02 per 10 shares, totaling RMB 181,500, which represents 13.13% of the net profit attributable to shareholders[91]. - The total cash dividends distributed over the past three years were RMB 4,265,250, reflecting a consistent return to shareholders[91]. - The total number of shares as of December 31, 2018, was 90.75 million[90]. Corporate Governance and Compliance - The company strictly adheres to corporate governance regulations, ensuring compliance with laws and guidelines, and has established a sound internal control system[156]. - The board of directors consists of 8 members, including 3 independent directors, meeting legal and regulatory requirements[157]. - Independent directors attended all board meetings and did not raise any objections to company matters during the reporting period[165]. - The company reported no significant internal control deficiencies during the reporting period, indicating effective governance[171]. Future Outlook and Strategic Goals - The company aims to achieve annual revenue of RMB 300 million from aluminum materials within 3 to 5 years, focusing on high-end, special, and moderately produced markets[78]. - The company plans to achieve annual revenue of RMB 300 million in the high-end equipment sector within 3 to 5 years, leveraging its expertise in radar communication products[78]. - The company aims to diversify its product line, introducing three new product categories by the end of the next fiscal year[145]. - The company projects a revenue growth of 10% for the next fiscal year, targeting 1.32 billion RMB[139].

Financial Performance - Total operating revenue for the first quarter was ¥22,716,341.63, a decrease of 18.31% compared to ¥27,807,413.78 in the same period last year[7] - Net profit attributable to shareholders was -¥10,501,132.53, representing a decline of 435.71% from ¥3,128,053.11 in the previous year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses was -¥11,188,159.90, a decrease of 535.75% compared to ¥2,567,541.56 last year[7] - The company reported a basic earnings per share of -¥0.1157, a decline of 435.36% from ¥0.0345 in the same period last year[7] - The weighted average return on net assets was -2.27%, a decrease of 2.94% compared to 0.67% in the previous year[7] - The overall gross margin decreased by 41.34% year-on-year due to the reduction in nuclear product revenue[24] - The company reported a gross loss of CNY 11,250,861.60, compared to a gross profit of CNY 10,062,693.10 in the same quarter last year[40] - The total comprehensive income for Q1 2019 was -8,585,558.57 CNY, compared to 3,558,963.04 CNY in the same period last year, indicating a substantial decrease[45] Cash Flow - The net cash flow from operating activities improved to ¥16,179,769.37, a significant increase of 201.60% from -¥15,925,674.27 in the previous year[7] - The net cash flow from investing activities improved by 105.13% to ¥125,784.00, due to reduced fixed asset purchases[15] - The net cash flow from financing activities decreased by 472.12% to -¥31,543,737.22, primarily due to the repayment of short-term loans[15] - The cash flow from operating activities for Q1 2019 was 16,179,769.37 CNY, a turnaround from -15,925,674.27 CNY in the same quarter last year[48] - The cash inflow from operating activities included 28,389,306.25 CNY from sales of goods and services in Q1 2019, compared to 10,535,956.46 CNY in the previous year[48] - The cash outflow from financing activities was -31,543,737.22 CNY in Q1 2019, compared to an inflow of 8,476,706.20 CNY in the previous year, highlighting a shift in financing strategy[49] Assets and Liabilities - Total assets at the end of the reporting period were ¥643,216,848.40, down 3.40% from ¥665,886,307.35 at the end of the previous year[7] - Net assets attributable to shareholders decreased by 2.25% to ¥456,379,806.79 from ¥466,880,939.32 at the end of the previous year[7] - The company's cash and cash equivalents decreased by 46.06% to ¥17,841,947.10 due to the repayment of short-term loans[15] - Total liabilities decreased from 199,005,368.03 CNY to 186,837,041.61 CNY, a decline of approximately 6.1%[31] - The total equity of the company was CNY 428,381,125.28, down from CNY 436,966,683.85, a decrease of 2.0%[37] Research and Development - Research and development expenses surged by 466.16% to ¥3,028,619.09, reflecting increased investment in R&D[15] - Research and development expenses for Q1 2019 were CNY 3,028,619.09, significantly higher than CNY 534,942.80 in the previous year, marking a 466.5% increase[38] Customer and Supplier Dynamics - The revenue from the nuclear sector fell by 93.49%, contributing only 5.47% to total revenue[16] - The top five suppliers accounted for 80.19% of total purchases, up from 85.45% in the previous year, indicating a slight diversification[18] - The top five customers' sales amounted to ¥6,359,264.23, down from ¥18,929,070.96, reflecting a significant shift in customer structure[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,944[11] - The company anticipates a cumulative net profit loss for the year, indicating a significant shift in financial outlook[24] Audit and Compliance - The company did not undergo an audit for the first quarter report, which may affect the reliability of the financial data presented[54]

Financial Performance - Operating revenue for the reporting period was CNY 28,605,933.80, down 16.14% year-on-year [7]. - Net profit attributable to shareholders was a loss of CNY 4,592,592.79, a decrease of 440.74% compared to the same period last year [7]. - Basic earnings per share were CNY -0.0506, a decline of 439.60% year-on-year [7]. - The company reported a net profit attributable to shareholders after deducting non-recurring gains and losses of CNY -5,109,352.59, a decrease of 2,827.78% year-on-year [7]. - Total profit decreased by 92.93% to ¥1,130,864.96, primarily due to a decline in gross profit and an increase in period expenses [15]. - Net profit for Q3 2018 was a loss of CNY 4,592,592.79, compared to a profit of CNY 1,347,841.03 in the previous year, marking a significant decline [34]. - The company reported a net profit of $911,953.34 for the current period, down from $12,582,745.65 in the previous period, representing a decline of about 92.7% [43]. - The net profit for Q3 2018 was CNY 741,312.72, a decrease from CNY 7,976,954.63 in the same period last year, representing a decline of approximately 90.7% [46]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 661,257,826.57, a decrease of 0.15% compared to the end of the previous year [7]. - The total assets of the company were CNY 599,143,191.10, down from CNY 605,051,100.24 at the beginning of the period [31]. - The company’s total liabilities decreased slightly to ¥194,847,001.17 from ¥195,567,393.83 [27]. - Total liabilities decreased to CNY 162,719,846.97 from CNY 168,189,319.52, reflecting a reduction of 3.5% [30]. - Other current assets decreased by 86.52% to ¥533,975.65 due to a reduction in input tax credits [15]. - Other non-current assets decreased by 52.50% to ¥2,355,945.00, mainly due to the write-off of prepaid fixed asset purchases [15]. Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 275,368.80, an increase of 101.17% [7]. - Cash flow from operating activities improved by 101.17% to ¥275,368.80, driven by increased cash collections compared to the previous year [15]. - Cash flow from operating activities generated a net cash flow of CNY 275,368.80, a significant recovery from a net outflow of CNY -23,568,202.50 in the previous year [47]. - The company reported a cash flow from investing activities net outflow of CNY -8,855,079.78, compared to CNY -23,202,938.97 in the previous year, showing an improvement in cash management [49]. - Cash flow from financing activities resulted in a net outflow of CNY -3,531,375.47, a decrease from a net inflow of CNY 39,144,154.61 in the same period last year [49]. - The ending balance of cash and cash equivalents was CNY 10,185,815.57, down from CNY 24,608,594.46 at the end of the previous year [50]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,916 [11]. - The largest shareholder, Yang Zhifeng, held 27.33% of the shares, amounting to 24,800,000 shares, with 18,600,000 shares pledged [11]. Research and Development - Research and development expenses rose by 78.05% to ¥3,354,801.51, reflecting increased investment in new product development [15]. - Research and development expenses were CNY 1,177,823.47, compared to a negative expense of CNY -433,290.50 in the previous year, indicating increased investment in R&D [32]. - Research and development expenses increased significantly to $1,177,823.47 from a negative expense of $433,290.50 in the previous period [37]. Financial Ratios - The weighted average return on net assets was -0.73%, down from 0.10% in the same period last year [7]. - Basic and diluted earnings per share for Q3 2018 were both CNY -0.0506, compared to CNY 0.0149 in the same period last year [35]. - Basic and diluted earnings per share for Q3 2018 were both CNY 0.0082, a significant decrease from CNY 0.0879 in the same period last year [46].