Financial Performance - Operating revenue decreased by 7.58% to CNY 93,447,905.29 for the current period, and by 14.38% to CNY 225,818,271.65 year-to-date[7] - Net profit attributable to shareholders increased by 5.56% to CNY 8,697,873.35 for the current period, but decreased by 21.67% to CNY 21,475,152.32 year-to-date[7] - Basic earnings per share decreased by 11.11% to CNY 0.08 for the current period, and by 36.36% to CNY 0.21 year-to-date[7] - The weighted average return on equity decreased by 10.66% to 1.48% for the current period, and by 49.74% to 3.57% year-to-date[7] - Total operating revenue for Q3 2017 was CNY 93,447,905.29, a decrease of 7.6% compared to CNY 101,116,592.71 in the same period last year[32] - Net profit for Q3 2017 reached CNY 8,697,873.35, representing a 5.6% increase from CNY 8,239,786.49 in Q3 2016[34] - Total operating revenue for the current period is $225.82 million, down from $263.74 million in the previous period, representing a decrease of approximately 14.4%[36] - Net profit for the current period is $21.48 million, down from $27.42 million, indicating a decrease of around 21.7%[37] - Basic and diluted earnings per share are both $0.21, down from $0.33 in the previous period[38] Assets and Liabilities - Total assets increased by 11.65% to CNY 1,058,411,621.77 compared to the end of the previous year[7] - Current assets increased to CNY 842,330,829.78 from CNY 706,069,384.28, reflecting a growth of 19.3%[28] - The total liabilities as of September 30, 2017, were CNY 454,491,336.28, compared to CNY 352,483,059.04 at the start of the year, indicating a rise of 28.9%[30] - The company's cash and cash equivalents increased to CNY 230,592,010.77 from CNY 196,350,609.46, marking a growth of 17.4%[28] Cash Flow - Net cash flow from operating activities showed a significant improvement, with a year-to-date figure of CNY -4,341,254.60, an increase of 76.53%[7] - Cash flow from operating activities shows a net outflow of $4.34 million, an improvement from a net outflow of $18.50 million in the previous period[40] - Cash flow from investing activities generated a net inflow of $33.45 million, compared to a net outflow of $26.87 million in the previous period[41] - Cash flow from financing activities resulted in a net outflow of $55.10 million, a significant decrease from a net inflow of $209.57 million in the previous period[41] - The ending cash and cash equivalents balance is $144.85 million, down from $193.16 million at the end of the previous period[41] Shareholder Information - The largest shareholder, Zhang Haibo, holds 55.24% of the shares, amounting to 56,570,000 shares[11] - The top ten shareholders collectively hold a significant portion of the company's equity, with the largest non-natural person shareholder holding 4.36%[11] - The company distributed dividends of CNY 1.30 per 10 shares based on a total share capital of 102,400,000 shares during the reporting period[22] Legal Matters - The company is involved in a legal dispute regarding a construction project, with a court ruling in favor of the company for CNY 23.4177 million, which is currently under appeal[19] Operational Changes - The company's accounts receivable decreased by 45.38% from CNY 50,127,396.84 to CNY 27,380,580.00 due to reduced sales receipts[18] - Prepayments increased significantly by 919.69%, rising from CNY 14,554,578.62 to CNY 148,411,567.62, attributed to higher material procurement payments[18] - Long-term receivables dropped by 71.67%, from CNY 37,391,967.66 to CNY 10,594,740.46, due to receipts related to the Dongfeng Avenue rapid transformation project[18] - The company's prepayments increased by 131.70%, from CNY 19,999,302.60 to CNY 46,338,083.41, reflecting an increase in advance construction guarantees[18] - Financial expenses decreased by 77.68%, from CNY 1,593,380.72 to CNY 355,676.95, due to reduced borrowings[18] - Operating tax and additional charges fell by 39.85%, from CNY 2,305,831.20 to CNY 1,386,912.42, following the implementation of the VAT reform[18] - The company received operating income of CNY 27,4205.94, a 724.37% increase compared to CNY 33,262.53 from the previous year, due to increased government subsidies[18] - Cash received from operating activities decreased by 40.08%, from CNY 28,367,691.29 to CNY 16,998,954.51, due to reduced material guarantees and bid guarantees[18] Inventory and Costs - Total operating costs for Q3 2017 were CNY 83,362,261.94, down 8.2% from CNY 90,823,455.11 in Q3 2016[32] - The inventory level increased significantly to CNY 203,922,826.91 from CNY 131,735,663.91, reflecting a rise of 54.7%[28] Audit Status - The third quarter report has not been audited[42]

Financial Performance - Total operating revenue for the first half of 2017 was ¥132,370,366.36, a decrease of 18.60% compared to ¥162,624,619.61 in the same period last year[20]. - Net profit attributable to shareholders was ¥12,777,278.97, down 33.37% from ¥19,177,426.33 year-on-year[20]. - Net profit after deducting non-recurring gains and losses was ¥11,905,556.37, a decline of 38.07% compared to ¥19,224,955.40 in the previous year[20]. - The net cash flow from operating activities was -¥25,244,556.78, a significant decrease of 179.42% from ¥31,784,339.79 in the same period last year[20]. - Basic earnings per share decreased by 52.00% to ¥0.12 from ¥0.25 in the previous year[20]. - The company reported a weighted average return on equity of 2.12%, down 3.66% from 5.78% in the previous year[20]. - The company's operating costs were ¥100,107,866.47, down 17.13% from ¥120,801,424.66, also due to decreased production[53]. - Sales expenses increased by 36.25% to ¥3,198,484.52, driven by intensified market expansion efforts[53]. - The company reported a comprehensive income of 12,777,278.97 CNY during the period, reflecting overall profitability despite operational cash flow challenges[146]. Assets and Liabilities - Total assets at the end of the reporting period were ¥958,973,757.66, an increase of 1.16% from ¥947,960,300.38 at the end of the previous year[20]. - The company reported a total current liabilities of ¥124,921,080.00, up from ¥79,173,458.10[132]. - Total liabilities amount to CNY 363,751,345.52, an increase from CNY 352,483,059.04 in the previous period[134]. - The company's total liabilities increased, impacting the overall financial leverage and risk profile[142]. Business Operations - The company’s main business is bridge steel structure engineering, which accounted for 100% of its main business revenue during the reporting period[28]. - The company operates on a contract-driven business model, focusing on project management and providing integrated services for bridge steel structure engineering[30]. - The company experienced a slight decline in overall operating performance in the first half of 2017, with revenue decreasing year-on-year due to a drop in project completion volume[34]. - The company has signed multiple significant contracts during the reporting period, indicating a stable development outlook for the second half of 2017[34]. - The company maintains a procurement model where steel accounts for approximately 70% of raw material costs, with procurement strategies varying based on contract terms[32]. - The company employs a sales-driven production model, ensuring that production aligns with contract requirements and customer specifications[33]. Research and Development - The company is committed to increasing R&D investment to enhance production efficiency and product quality, while optimizing cost management systems[50]. - Research and development investment increased by 150.79%, reaching 1,581,889.95 CNY, attributed to higher project funding[54]. - The company has developed advanced construction techniques and devices for municipal elevated bridges, leveraging its extensive experience in large-scale bridge projects[38]. - The company has developed multiple construction technologies to improve efficiency and reduce costs in complex urban environments, including a self-locking suspended sliding work platform[41]. - The company has established a list of qualified suppliers through annual evaluations, ensuring quality in the procurement of various raw materials[32]. Financial Management - The company plans to not distribute cash dividends or issue bonus shares[6]. - The company has committed to invest a total of 22,773 million CNY in various projects, with 100% of the funds allocated as of December 31, 2017[67]. - The total amount of raised funds was 257,024,000.00 CNY, with 12,116,000.00 CNY already utilized by the end of the reporting period[64]. - The cash balance from raised funds at the end of the reporting period was 136,249,478.35 CNY[64]. - The company reported a significant increase in prepayments, which rose by 62.43% to 35,960,664.77 CNY[54]. Risks and Challenges - The company faces risks related to macroeconomic policies that could significantly impact the bridge steel structure engineering industry due to its correlation with infrastructure investment[77]. - There is a substantial risk associated with accounts receivable, as the company retains 5%-10% of project payments as warranty funds, which may delay cash flow[78]. - The company faces risks related to the fluctuation of steel prices, which can directly impact project costs and operational performance if prices change significantly between bidding and actual procurement[79]. - The company is in a rapid development phase and must attract and expand its core technical and management talent to maintain competitiveness in the increasingly complex bridge steel structure engineering market[80]. Shareholder Information - The total number of shares is 102,400,000, with 75% being limited shares[113]. - The total number of shareholders at the end of the reporting period was 15,835[116]. - The largest shareholder, Zhang Haibo, holds 55.24% of the shares, totaling 56,570,000 shares[116]. - The company reported a participation rate of 76.62% for the first extraordinary general meeting of shareholders held on March 24, 2017, and 74.87% for the annual general meeting held on June 27, 2017[84]. Legal and Compliance - The company is involved in a significant lawsuit with a claim amounting to 41.62 million yuan, which is currently under appeal[90]. - The company has not engaged in any major related party transactions during the reporting period[95]. - The company has not implemented any employee incentive plans or stock ownership plans during the reporting period[94]. - The financial report for the first half of 2017 was not audited[129]. Environmental and Social Responsibility - The company and its subsidiaries are not classified as key pollutant discharge units by environmental protection authorities[109]. - The company has no plans for significant environmental protection initiatives[109]. - The company has not engaged in any precision poverty alleviation work during the reporting period and has no subsequent plans[107].

Financial Performance - Total revenue for Q1 2017 was ¥56,832,393.53, a decrease of 11.51% compared to ¥64,227,420.22 in the same period last year[7] - Net profit attributable to shareholders was ¥4,916,490.04, down 15.66% from ¥5,829,077.17 year-over-year[7] - Basic earnings per share decreased by 37.50% to ¥0.05 from ¥0.08 in the previous year[7] - The company's operating revenue for the first quarter was 56.83 million yuan, a year-on-year decrease of 11.51%[24] - Net profit for the quarter was 4.92 million yuan, down 15.66% compared to the same period last year[24] - Total operating revenue for the first quarter was ¥56,832,393.53, a decrease of 11.0% compared to ¥64,227,420.22 in the previous period[42] - Total operating costs amounted to ¥51,499,748.72, down 8.8% from ¥56,510,830.85 in the prior year[42] - The total comprehensive income attributable to the parent company for Q1 2017 was CNY 4,916,490.04, down from CNY 5,829,077.17 in the previous period, representing a decrease of approximately 15.6%[44] - Basic and diluted earnings per share for Q1 2017 were both CNY 0.05, compared to CNY 0.08 in the previous period, indicating a decline of 37.5%[44] Cash Flow and Financial Position - The net cash flow from operating activities improved to -¥12,425,989.70, a 62.27% reduction in losses compared to -¥32,929,800.87 in the same period last year[7] - Cash inflow from operating activities totaled CNY 69,848,075.18, a decrease from CNY 89,940,326.36 in the previous period, reflecting a decline of about 22.3%[45] - Cash outflow from operating activities was CNY 82,274,064.88, down from CNY 122,870,127.23, resulting in a reduction of approximately 33%[47] - Cash inflow from investment activities was CNY 82,949,893.14, with cash outflow totaling CNY 74,009,439.45, resulting in a net cash flow of CNY 8,940,453.69[48] - The net cash flow from financing activities was CNY 2,419,067.58, down from CNY 12,668,460.70 in the previous period, indicating a decrease of approximately 81%[48] - The ending balance of cash and cash equivalents was CNY 169,767,858.10, compared to CNY 8,605,157.50 in the previous period, showing a significant increase[48] - Cash and cash equivalents at the end of the period were ¥194,366,391.62, a slight decrease from ¥196,350,609.46 at the beginning of the period[38] Assets and Liabilities - Total assets at the end of the reporting period were ¥895,131,246.66, down 5.57% from ¥947,960,300.38 at the end of the previous year[7] - Current liabilities decreased to ¥291,404,847.51, down 16.5% from ¥349,150,391.27 at the beginning of the period[40] - The total equity attributable to shareholders increased slightly to ¥600,393,731.38 from ¥595,477,241.34, marking a growth of 0.3%[41] - Inventory increased to ¥140,530,021.40, up 6.0% from ¥131,735,663.91 at the start of the period[38] - The company reported a decrease in accounts receivable to ¥237,186,848.28 from ¥240,098,602.21, a decline of 1.2%[38] - Accounts receivable decreased by 91.57% to 4.23 million yuan due to the expiration and transfer of notes[23] Operational Developments - The company plans to use raised funds primarily for the development and manufacturing of super heavy bridge steel structures and to enhance operational capabilities[14] - The company aims to strengthen its talent pool and technological capabilities to maintain competitiveness in the rapidly evolving market[13] - The company plans to expand the production capacity of the bridge steel structure from 40,000 tons to 50,000 tons[31] - The new project name is "Research, Development, Manufacturing, and Logistics Base for Super Heavy Bridge Steel Structures" located in Hannan District, Wuhan[31] - The new project location has an area of 230,899.50 square meters, which is 1.8 times larger than the previous site[31] - The company aims to enhance its brand recognition in the domestic market for large-scale steel structure bridge construction[31] Legal and Risk Factors - The company faces risks related to macroeconomic policies, which significantly impact the bridge steel structure engineering industry[10] - The company is exposed to accounts receivable recovery risks due to the large amounts involved and the nature of project payment schedules[11] - The company is involved in a legal dispute regarding a construction contract, with the case accepted by the court and hearings held on March 29, 2017[26][27] Fund Utilization - The total amount of raised funds is 257.02 million RMB, with 53.33% utilized in the current quarter[30] - The total amount of raised funds repurposed during the reporting period is 148.73 million RMB, accounting for 57.87% of the total[30] - As of March 31, 2017, the balance of the raised funds account is 148.00 million RMB, all stored in a special account[32] - The company has committed to utilizing all remaining unused raised funds for the new project[32] - The company has already used 1.92 million RMB for the original "Bridge Steel Structure Production Base Expansion Project" and 0 RMB for the "Enterprise Technology Center Construction Project"[31] - The original "Enterprise Technology Center Construction Project" has been canceled and merged into the new project[31] Miscellaneous - The company has not engaged in any repurchase transactions among its top shareholders during the reporting period[19] - The company did not undergo an audit for the Q1 2017 report[49] - The report indicates a focus on improving cash flow management and operational efficiency moving forward[47]

Financial Performance - The company's operating revenue for 2016 was CNY 378,942,410.10, representing a 0.85% increase compared to CNY 375,741,299.84 in 2015[16] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 40,488,102.46, a decrease of 9.52% from CNY 44,748,747.54 in the previous year[16] - The net cash flow from operating activities was CNY 43,809,839.53, down 41.31% from CNY 74,649,291.10 in 2015[16] - The basic earnings per share decreased by 15.25% to CNY 0.50 from CNY 0.59 in 2015[16] - The total assets at the end of 2016 reached CNY 947,960,300.38, an increase of 28.60% compared to CNY 737,112,744.56 at the end of 2015[16] - The net assets attributable to shareholders increased by 84.87% to CNY 595,477,241.34 from CNY 322,113,950.58 in 2015[16] - The weighted average return on net assets decreased to 12.23% from 15.15% in the previous year[16] - The company reported a quarterly revenue of CNY 115,201,197.78 in Q4 2016, showing a positive trend in the latter part of the year[18] - The company's total non-operating income for 2016 was approximately 2.86 billion, a significant increase from 540.26 million in 2015[30] Business Operations - The company's bridge steel structure engineering revenue accounted for 100% of its main business income in the reporting period[24] - The company reported a slight increase in revenue despite a decrease in completed engineering projects, indicating resilience in a competitive market[30] - The company’s marketing strategy is driven by contract acquisition, focusing on public bidding and invitation bidding to secure engineering projects[27] - The procurement model includes a focus on steel materials, which account for approximately 70% of total raw material costs, with a strategy to lock in prices through contracts[28] - The company has developed innovative construction technologies tailored for urban elevated bridges, leveraging its extensive experience in large-scale bridge projects[35] - The company emphasizes a sales-driven production model, ensuring that production aligns with contract requirements and market demand[29] - The company achieved a welding pass rate of over 99% in bridge construction, demonstrating its strong capabilities in the core welding field[38] Research and Development - The company has a total of 7 invention patents and 13 utility model patents, demonstrating its commitment to technological innovation in bridge steel structure engineering[36] - Research and development efforts focused on innovative technologies, including a multi-point continuous pushing steel box beam installation technique, which improved installation precision and safety[61] - The company is investing in the research and development of heavy and super-heavy bridge steel structures to enhance its engineering capabilities and market competitiveness[90] - The company plans to increase investment in technology development and innovation to enhance competitiveness in bridge steel structure engineering projects[102] Market and Competitive Landscape - The competitive landscape is intensifying as more companies enter the bridge steel structure market, although the company maintains advantages in brand reputation and project management[81] - The company is positioned to leverage the opportunities presented by the "Belt and Road" initiative and other national strategies to expand its market presence[78] - The steel structure industry is expected to benefit from national policies and infrastructure investments, indicating substantial growth potential[78] Risk Management - The company faced risks related to macroeconomic policies, accounts receivable recovery, and fluctuations in steel prices, which may impact future performance[4] - The company has established a strict risk control system for accounts receivable, but faces potential risks of delayed or uncollectible receivables due to economic conditions and client financial health[86] - The company recognizes the risk of insufficient talent development and technology application, which could affect its competitive edge in the rapidly evolving market[89] Governance and Compliance - The company maintains a governance structure that protects shareholder rights and ensures transparent information disclosure[130] - The company has established a commitment to avoid direct or indirect competition with its controlling shareholders and their subsidiaries[103] - The company has established a clear labor and personnel management system independent of its controlling shareholders[192] - The company has established an independent financial department with a separate accounting system and financial management policies, ensuring financial decision-making autonomy[193] Shareholder Actions - The company plans to distribute a cash dividend of CNY 1.20 per 10 shares, totaling CNY 12,288,000 based on 102,400,000 shares[4] - The company has implemented a share repurchase plan to stabilize stock prices, with specific conditions including a maximum repurchase amount not exceeding the total funds raised from the initial public offering[99] - The actual controller holds 55.24% of the shares, leading to potential governance risks due to concentrated decision-making power[91] Employee and Management - The company employs 80 technical research personnel, accounting for 33.20% of its total workforce, including 6 national first-class constructors and over 40 skilled welders[39] - The total compensation for the board and senior management during the reporting period amounted to 144.71 million[175] - The company emphasizes performance-oriented compensation policies to align employee income with company performance[178] - A systematic training plan is in place to enhance employee skills and support career development[179] Legal Matters - There is an ongoing lawsuit involving a construction contract dispute with a claim amount of 41.62 million RMB[110] - The lawsuit has been accepted by the Shanxi Intermediate People's Court as of November 30, 2016, with no verdict yet[110] - The company has not faced any penalties or rectification issues during the reporting period[111]

Financial Performance - Total operating revenue for the reporting period was ¥101,116,592.71, a slight increase of 0.97% year-on-year[7]. - Net profit attributable to shareholders decreased by 16.23% to ¥8,239,786.49 compared to the same period last year[7]. - Basic earnings per share decreased by 30.77% to ¥0.09[7]. - The weighted average return on net assets fell by 49.85% to 1.66%[7]. - The net cash flow from operating activities showed a significant decline of 144.50%, amounting to -¥18,499,313.90[7]. - Total operating costs increased to ¥90,823,455.11 from ¥88,254,407.00, marking a rise of about 2.83%[63]. - Operating profit decreased to ¥10,293,137.60 from ¥11,894,415.40, a decline of about 13.43%[64]. - Year-to-date net profit was ¥27,417,212.82, compared to ¥26,777,046.78, showing a growth of about 2.40%[68]. - Basic and diluted earnings per share for the year-to-date were both ¥0.33, down from ¥0.35, a decrease of approximately 5.71%[69]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥926,809,722.01, an increase of 25.74% compared to the previous year[7]. - Total liabilities decreased to ¥349,532,340.55 from ¥414,998,793.98, a reduction of 15.8%[61]. - The company's equity increased to ¥577,277,381.46 from ¥322,113,950.58, showing a growth of 79.3%[62]. - Cash and cash equivalents increased by 233.65% to 235.34 million RMB, attributed to funds raised from the IPO[18]. - Accounts receivable rose by 192.33% to 17.54 million RMB, reflecting an increase in sales receipts[18]. - Inventory increased by 133.68% to 174.04 million RMB, due to ongoing large-scale projects not reaching settlement milestones[18]. Risks and Challenges - The company faces risks related to macroeconomic fluctuations, which could impact performance due to its reliance on infrastructure investment[10]. - The transition from business tax to value-added tax (VAT) may lead to reduced revenue and increased tax burden, affecting profitability[10]. - Steel price volatility poses a risk to project costs, particularly for contracts where the company is responsible for steel procurement[11]. - The company has identified important risk factors that may adversely affect future operations, which are detailed in the basic situation section of the report[24]. - The company is actively monitoring and managing risks associated with its operations and market conditions[24]. Investment and Growth Plans - The company plans to continue expanding its market presence and investing in new projects to drive future growth[20]. - The company aims to enhance market development and increase resource investment in marketing efforts[41]. - The company will strengthen cooperation with major domestic contractors to secure more quality bridge steel structure contracts[42]. - The company intends to increase funding and human resources for technology research and development to improve engineering efficiency[42]. - The company will focus on key technologies and challenges in bridge steel structure engineering to enhance competitiveness[42]. Stock Repurchase and Shareholder Management - The company plans to implement a stock repurchase program to stabilize its stock price, adhering to relevant regulations and ensuring compliance with listing requirements[29]. - The total amount allocated for stock repurchase will not exceed the total funds raised from the initial public offering[30]. - Each repurchase transaction will require a minimum of RMB 5 million and cannot exceed 2% of the company's total equity[30]. - If the stock price remains below the audited net asset value per share for 10 consecutive trading days, the board will terminate the repurchase plan[30]. - The controlling shareholder is required to increase their holdings if certain conditions are met, including the stock price being below the audited net asset value[31]. - The board must announce the repurchase plan within 15 trading days after the triggering conditions are met[34]. - The company will disclose the changes in shareholding within 2 working days after the repurchase is completed[35]. Operational Updates - The company executed its annual business plan without significant changes during the reporting period[23]. - There were no major changes in the company's intangible assets, core competencies, or key technical personnel during the reporting period[21]. - The company reported no cash dividend policy execution during the reporting period[53]. - The company had no violations regarding external guarantees during the reporting period[54]. - The company did not conduct an audit for the third quarter report[74].

Financial Performance - Total revenue for the first half of 2016 was ¥162,624,619.61, an increase of 17.73% compared to ¥138,134,183.99 in the same period last year[17]. - Net profit attributable to ordinary shareholders was ¥19,177,426.33, reflecting a growth of 13.21% from ¥16,940,404.47 year-on-year[17]. - Basic earnings per share increased to ¥0.25, a rise of 13.64% compared to ¥0.22 in the same period last year[17]. - The company reported a net profit after deducting non-recurring gains and losses of ¥19,224,955.40, which is a 17.42% increase from ¥16,372,466.34 last year[17]. - The company achieved operating revenue of 162.62 million yuan in the first half of 2016, representing a year-on-year growth of 17.73%[27]. - Net profit for the same period was 19.18 million yuan, an increase of 13.21% compared to the previous year[27]. Cash Flow and Assets - Net cash flow from operating activities reached ¥31,784,339.79, up 25.26% from ¥25,374,883.73 in the previous year[17]. - The company's cash and cash equivalents increased to ¥90,740,076.65 from ¥70,535,623.43, representing a growth of approximately 28.5%[95]. - Accounts receivable decreased to ¥285,540,703.45 from ¥355,870,855.85, a decline of about 19.6%[95]. - Inventory increased significantly to ¥163,372,417.72 from ¥74,479,515.22, marking an increase of approximately 119.5%[95]. - Total assets at the end of the reporting period were ¥804,156,887.91, representing a 9.10% increase from ¥737,112,744.56 at the end of the previous year[17]. Operational Strategy and Market Position - The company is focused on adapting to macroeconomic changes and enhancing market research to guide operational policies[23]. - The company anticipates long-term growth opportunities in the bridge steel structure engineering industry due to urbanization efforts[23]. - The company is actively expanding its market presence in municipal bridge steel structure engineering, maintaining a leading position in the industry[39]. - The company is facing increased competition in the bridge steel structure engineering industry due to the development of the PPP model[39]. - The company plans to enhance market development and increase project bidding capabilities by investing more resources in marketing and establishing an efficient market information management system[74]. Research and Development - Research and development expenses decreased by 31.04% to 630,773 yuan due to the later initiation of some projects[28]. - The company will strengthen technical research and development, focusing on key technologies in bridge steel structure engineering to improve competitiveness[75]. Financial Management and Shareholder Policies - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company did not propose a cash dividend distribution plan for the reporting period despite having positive undistributed profits[49]. - The company has commitments related to share lock-up periods, with a commitment to not transfer shares for 36 months from the date of listing[68]. - The company plans to issue 25.6 million new shares, increasing total shares to 76.8 million[74]. - The company will initiate a share repurchase within 15 trading days after the triggering conditions are met, and the repurchase must be completed within 30 days of the shareholders' meeting resolution[72]. Risks and Challenges - The company is facing risks related to the fluctuation of steel prices, which significantly impact project costs depending on procurement agreements[25]. - The implementation of the "business tax to value-added tax" reform resulted in a 43.36% decrease in business tax expenses[28]. Corporate Governance and Compliance - The company has not experienced significant changes in its main business structure or profitability compared to the previous year[35]. - The top five suppliers and customers have changed during the reporting period, but these changes are considered normal and have no significant impact on operations[36]. - The company has not engaged in any financial investments, including entrusted financial management or derivative investments, during the reporting period[45][46]. - The company reported no major litigation or arbitration matters during the reporting period[52]. - There were no significant related party transactions during the reporting period[57]. Accounting Policies and Financial Reporting - The semi-annual financial report has not been audited[77]. - The financial statements were approved for external reporting on August 25, 2016, by the third board meeting[119]. - The company adopts the Chinese Yuan (RMB) as its functional currency for accounting purposes[125]. - The company follows specific accounting treatments for mergers and acquisitions, distinguishing between same-control and non-same-control transactions[126][131].