Financial Performance - The company's revenue for Q3 2021 was ¥182,876,216.63, representing a year-over-year increase of 20.87% and a year-to-date increase of 28.04% to ¥513,641,897.44[5] - The net profit attributable to shareholders for Q3 2021 was ¥5,822,694.48, a decrease of 1.50% compared to the same period last year, while the year-to-date net profit increased by 81.72% to ¥14,835,676.23[5] - The basic earnings per share for Q3 2021 was ¥0.026, an increase of 80.72% year-over-year, and the diluted earnings per share was also ¥0.026, up 104.08%[5] - Total operating revenue for Q3 2021 reached ¥513,641,897.44, an increase of 28.1% compared to ¥401,154,376.39 in the same period last year[37] - Net profit for Q3 2021 was ¥14,468,469.20, representing a significant increase of 99.5% compared to ¥7,258,172.41 in Q3 2020[38] - Earnings per share (EPS) for Q3 2021 was ¥0.067, compared to ¥0.0368 in the same quarter last year, reflecting a growth of 81.4%[39] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,031,923,056.29, a decrease of 2.15% compared to the end of the previous year[5] - The total assets as of the end of Q3 2021 were ¥1,031,923,056.29, slightly down from ¥1,054,600,066.54 at the end of Q2 2021[35] - Total liabilities decreased to ¥534,253,412.15 from ¥558,364,917.83 in the previous quarter, indicating a reduction of 4.3%[35] - The company’s total liabilities included short-term borrowings of CNY 264,931,391.71[47] - Total liabilities amounted to CNY 558,364,917.83, with current liabilities at CNY 506,355,619.12 and non-current liabilities at CNY 52,009,298.71[48] - The company reported a total asset value of CNY 1,054,600,066.54, indicating a strong asset base[49] Cash Flow - The cash flow from operating activities for the year-to-date period was ¥22,409,979.97, showing a decline of 36.66%[5] - The company's cash flow from operating activities was ¥508,232,165.58, an increase from ¥366,657,967.79 in the same period last year[41] - The net cash flow from operating activities decreased by 12.97 million yuan, a decline of 36.66%, mainly due to increased cash payments for goods and services[16] - Total cash inflow from investment activities was CNY 14,924,555.02, down from CNY 54,945,524.83 in the same period last year[43] - The net cash flow from financing activities was -CNY 32,188,788.49, compared to -CNY 40,462,283.56 in Q3 2020, indicating an improvement[43] - The total cash and cash equivalents decreased by CNY 41,625,725.92 in Q3 2021, compared to a decrease of CNY 16,885,943.61 in Q3 2020[43] Operating Costs and Expenses - In the first nine months of 2021, operating costs increased by 104.11 million yuan, a rise of 32.43%, primarily due to the increase in operating revenue and contract performance costs[14] - Total operating costs amounted to ¥498,238,093.90, up 27.7% from ¥389,918,854.72 year-on-year[37] - R&D expenses in the first nine months of 2021 rose by 6.16 million yuan, an increase of 41.47%, due to increased internal R&D investment[14] - Research and development expenses for Q3 2021 were ¥21,012,512.31, up 41.3% from ¥14,853,336.58 in Q3 2020, highlighting a focus on innovation[37] Shareholder Equity and Stock Information - The company's equity attributable to shareholders was ¥499,551,891.49, reflecting a slight increase of 0.36% compared to the previous year[6] - The total equity attributable to shareholders of the parent company was ¥499,551,891.49, a slight increase from ¥497,750,189.03 in the previous quarter[35] - The company announced a 30% lock-up release for shares held by executives from July 23, 2021, to July 22, 2022[22] - A total of 1,645,000 shares are subject to a 30% lock-up release from July 23, 2022, to July 22, 2023[23] - The company reported a total of 109,106,432 shares outstanding, with 108,442,307 shares remaining after accounting for lock-up releases[24] Impairment and Provisions - Credit impairment losses decreased by 2.41 million yuan, down 122.29%, mainly due to the reversal of accounts receivable provisions[15] - Asset impairment losses increased by 1.00 million yuan, a rise of 204.66%, mainly due to increased inventory write-down provisions[15] - Tax and additional charges increased by 2.29 million yuan, up 63.35%, primarily due to increased revenue and tax provisions[14] Other Financial Obligations - The company has a total of CNY 33,818,922.87 in bonds payable, indicating a significant debt obligation[48] - The company has a total of CNY 1,412,706.98 in other current liabilities, reflecting additional short-term financial obligations[48] - The company reported a total of CNY 14,426,467.27 in employee compensation payable and CNY 7,433,506.03 in taxes payable[48]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 330,765,680.81, representing a 32.38% increase compared to CNY 249,854,809.66 in the same period last year[24]. - The net profit attributable to shareholders of the listed company reached CNY 9,012,981.75, a significant increase of 300.03% from CNY 2,253,101.19 in the previous year[24]. - The net profit after deducting non-recurring gains and losses was CNY 7,865,577.83, up 561.48% from CNY 1,189,089.36 year-on-year[24]. - The basic earnings per share increased to CNY 0.04, a 300.00% rise compared to CNY 0.01 in the same period last year[24]. - The diluted earnings per share reached CNY 0.04, reflecting a 900.00% increase from CNY 0.004 in the previous year[24]. - The company achieved operating revenue of 330.77 million CNY, a year-on-year increase of 32.38%[31]. - The net profit attributable to shareholders was 9.01 million CNY, reflecting a significant year-on-year growth of 300.03%[31]. Cash Flow and Investments - The net cash flow from operating activities was CNY 22,979,454.05, down 32.37% from CNY 33,978,730.74 in the same period last year[24]. - Cash flow from investing activities showed a net outflow of ¥23,493,242.59, a significant increase of 225.58% compared to the previous year, due to higher cash payments for fixed assets and intangible assets[47]. - Cash flow from financing activities improved by 34.55%, with a net outflow of ¥23,319,530.96, attributed to increased cash received from borrowings compared to the previous year[47]. - The company reported a total investment of 133.05 million in the automotive parts manufacturing project, with an expected return of 288.78%[62]. - The company has invested 213.33 million RMB in the committed investment projects, achieving a completion rate of 99.63%[73]. Research and Development - The company has increased its R&D investment and actively expanded its market presence, enhancing its core competitiveness[31]. - Research and development expenses increased by 39.23% to ¥13,340,287.99, attributed to higher internal R&D investments during the reporting period[47]. - The company aims to enhance its research and development capabilities for new products and technologies in the automotive sector[66]. Market and Industry Trends - The domestic plastic products industry saw a production increase of 18.20% year-on-year, with total profits rising by 24.9% in the first half of 2021[35]. - The automotive parts industry experienced a production and sales growth of 24.2% and 25.6% respectively in the first half of 2021[37]. - In the first half of 2021, China's home appliance market retail sales reached CNY 429.3 billion, a year-on-year increase of 16.3%[38]. - The contribution rate of e-commerce channels to home appliance retail reached 53.65%, indicating a significant shift towards online consumption[38]. Corporate Governance and Shareholder Management - The company has established a comprehensive governance structure to mitigate risks associated with its actual controllers[85]. - The actual controllers hold 63.63% of the company's shares, which may influence operational and financial decisions[85]. - The company has a high customer concentration risk, with sales to the top five customers accounting for 64.38% of total revenue as of December 31, 2020[83]. - The company has not encountered any significant changes in the feasibility of the investment projects[73]. Stock and Equity Management - The company changed its name to "Ningbo Henghe Precision Industry Co., Ltd." and the stock abbreviation to "Henghe Precision" while maintaining the stock code "300539" as of May 17, 2021[130][131]. - The company granted 265,000 restricted stock units to 20 eligible participants at a price of 3.47 yuan per share on April 26, 2021[128]. - The company has implemented a stock incentive plan with various executives, with specific numbers of shares set to be released in the coming years[141]. - The total number of shares held by major shareholders remains unchanged at 53,244,675 for Hu Zhijun and 52,810,910 for Huang Xiuzhu, both with a 25% release commitment[140]. Risk Factors - The company faces risks from fluctuations in raw material prices, particularly for plastic pellets, which could impact operating costs[88]. - The company has faced challenges in project development due to external factors such as the COVID-19 pandemic and adverse weather conditions, impacting construction progress[65]. - The company is adapting its investment strategies in response to macroeconomic factors such as the US-China trade war and the ongoing pandemic[66].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 330,765,680.81, representing a 32.38% increase compared to CNY 249,854,809.66 in the same period last year[23]. - The net profit attributable to shareholders of the listed company reached CNY 9,012,981.75, a significant increase of 300.03% from CNY 2,253,101.19 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was CNY 7,865,577.83, up 561.48% from CNY 1,189,089.36 year-on-year[23]. - The basic earnings per share increased to CNY 0.04, a 300.00% rise compared to CNY 0.01 in the same period last year[23]. - The diluted earnings per share reached CNY 0.04, reflecting a 900.00% increase from CNY 0.004 in the previous year[23]. - The company's total assets at the end of the reporting period were CNY 1,045,557,233.72, a decrease of 0.86% from CNY 1,054,600,066.54 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company were CNY 491,082,484.29, down 1.34% from CNY 497,750,189.03 at the end of the previous year[23]. - The net cash flow from operating activities was CNY 22,979,454.05, a decrease of 32.37% compared to CNY 33,978,730.74 in the same period last year[23]. Revenue and Profit Growth - The growth in revenue and profit was driven by increased domestic demand for core components due to intensified global trade competition[30]. - The company achieved operating revenue of 330.77 million CNY, a year-on-year increase of 32.38%[30]. - The net profit attributable to shareholders was 9.01 million CNY, reflecting a significant year-on-year growth of 300.03%[30]. - The company has successfully developed and mass-produced multiple core component projects for home appliances and automotive sectors, enhancing its core competitiveness[30]. - The company has focused on cost control and management improvements, contributing to stable business growth[30]. Industry Trends - The plastic products industry in China saw a production increase of 18.20% in the first half of 2021, with total profits rising by 24.9%[34]. - The automotive parts industry is increasingly important, with China's vehicle production and sales growing by 24.2% and 25.6% respectively in the first half of 2021[36]. - In the first half of 2021, China's home appliance market retail sales reached CNY 429.3 billion, a year-on-year increase of 16.3%[37]. - The contribution rate of e-commerce channels to home appliance retail reached 53.65%, indicating a significant shift towards online consumption[37]. Research and Development - Research and development expenses rose by 39.23% to ¥13,340,287.99, reflecting increased internal R&D investments[45]. - The company has a strong focus on R&D and innovation, having accumulated extensive experience in precision plastic mold design and manufacturing[40]. - The company remains committed to the development of precision plastic components, focusing on high-quality service for clients in the home appliance and automotive industries[31]. Investment and Expansion - The company is strategically expanding its market presence and enhancing its product structure to improve profitability and competitiveness[32]. - The company has established subsidiaries to invest in automotive electrical projects, aligning with the growing demand in the automotive parts sector[35]. - The company is actively expanding its automotive parts business, leveraging its advantages in large and complex injection mold production[61]. - The company reported a total investment of 133.05 million in the Haidexin project, with a cumulative actual investment of 9.777 billion, reflecting a 21.59% completion rate as of the reporting date[60]. Financial Management - The company has established a comprehensive risk management framework to address potential risks from raw material price fluctuations and market competition[86]. - The company has a robust management team with extensive industry experience, enabling effective decision-making and operational efficiency[43]. - The company has not encountered any significant changes in the feasibility of the investment projects funded by the raised capital[71]. Shareholder and Stock Information - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[7]. - The company has a total of 21.97 million RMB in the special account for raised funds, with 5.10 million RMB used to replace self-raised funds previously invested in projects[72]. - The company has a stock incentive plan that allows for a 30% release of restricted shares annually based on the number of shares held at the end of the previous year[139]. - The company’s stock issuance and incentive plans are in compliance with relevant regulations and have been independently verified[141]. Risk Factors - The company faces a high customer concentration risk, with sales to the top five customers accounting for 64.38% of total revenue as of December 31, 2020[81]. - The company has adopted a cautious investment strategy since 2019, influenced by macroeconomic factors such as the US-China trade war and the pandemic[64]. - The company is evaluating customer and project risks to prioritize and select projects, which has resulted in fewer new projects than anticipated[62]. Miscellaneous - The company has not reported any changes in the projects funded by the raised capital during the reporting period[73]. - The company has not experienced any major litigation or arbitration matters during the reporting period[110]. - The company has not engaged in any significant related party transactions during the reporting period[112].

Financial Performance - The company's revenue for Q1 2021 was ¥157,781,316.06, representing a 92.50% increase compared to ¥81,962,504.51 in the same period last year[8]. - Net profit attributable to shareholders was ¥3,991,591.90, a significant turnaround from a loss of ¥3,040,119.56, marking a 231.30% increase[8]. - The net profit after deducting non-recurring gains and losses was ¥3,464,225.89, up 195.61% from a loss of ¥3,623,348.42 in the previous year[8]. - The basic earnings per share increased to ¥0.02 from a loss of ¥0.01, reflecting a 300.00% improvement[8]. - In Q1 2021, the company's operating revenue increased by CNY 75,818,811.55, a rise of 92.50% year-on-year, primarily due to successful business strategies and a low base effect from the previous year's pandemic impact[20]. - The net profit attributable to shareholders in Q1 2021 was CNY 3,991,591.90, a significant increase of 231.30% year-on-year[20]. - The total operating revenue for the first quarter of 2021 was CNY 157,781,316.06, compared to CNY 81,962,504.51 in the same period last year, indicating a significant increase[54]. - The total operating costs for the first quarter of 2021 were CNY 152,024,867.24, up from CNY 84,991,923.10 in the previous year[55]. - The net profit for the first quarter was CNY 3,963,807.89, a turnaround from a net loss of CNY 3,218,437.27 in the same period last year[56]. - The total profit for the first quarter was CNY 4,834,142.92, compared to a loss of CNY 2,699,490.84 in the same period last year[56]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥1,031,595,001.14, a decrease of 2.18% from ¥1,054,600,066.54 at the end of the previous year[8]. - The net assets attributable to shareholders increased by 0.99% to ¥502,684,495.12 from ¥497,750,189.03[8]. - The company's total assets as of March 31, 2021, were CNY 878,485,987.70, slightly down from CNY 883,424,993.94 at the end of 2020[51]. - The total liabilities decreased to CNY 530,453,330.35 from CNY 558,364,917.83 year-over-year[49]. - The total liabilities increased to CNY 558,364,917.83 from CNY 563,389,142.16, reflecting a slight decrease[72]. - The total current liabilities were CNY 347,198,123.69, while total non-current liabilities were CNY 40,245,544.54, leading to a total liabilities of CNY 387,443,668.23[75]. Cash Flow - The net cash flow from operating activities was ¥19,428,749.91, down 32.12% from ¥28,621,913.08 in the same period last year[8]. - The net cash flow from operating activities decreased by CNY 9,193,163.17 in Q1 2021, down 32.12%, mainly due to increased cash payments for goods and services[19]. - The company reported a cash flow from operating activities of CNY 19,428,749.91, down from CNY 28,621,913.08 in the previous period[64]. - Operating cash flow for the first quarter was CNY 11,418,594.51, a decrease of 25.1% compared to CNY 15,248,895.76 in the previous year[67]. - Cash inflow from financing activities totaled CNY 68,069,947.10, compared to CNY 12,800,040.98 in the previous year, marking a substantial increase[68]. - Net cash flow from financing activities was a negative CNY 21,679,015.67, an improvement from a negative CNY 46,055,490.27 in the previous year[68]. Research and Development - R&D expenses increased by CNY 2,158,427.56 in Q1 2021, up 47.13%, reflecting a rise in R&D investment compared to the same period last year[18]. - The company reported a research and development expense of CNY 6,738,589.51, compared to CNY 4,580,161.95 in the previous year, reflecting an increase in R&D investment[55]. - Research and development expenses increased to CNY 4,574,341.83 from CNY 2,703,832.32 in the previous period, reflecting a focus on innovation[59]. Market and Strategic Initiatives - The company is actively expanding into the automotive parts market, which is expected to grow due to increasing vehicle ownership in China[23]. - The company plans to continue focusing on investment in new technologies and market expansion strategies to drive future growth[69]. - The company has committed to a new project with an annual production capacity of 5 million automotive functional parts, which is expected to be completed by December 31, 2021[37]. Governance and Risk Management - The company faces risks related to customer concentration, with the top five customers accounting for 63.17% of total revenue as of December 31, 2020[21]. - The company has established a comprehensive governance structure and internal control systems to mitigate risks associated with actual controllers and management[22]. - The company faces risks related to natural disasters and public events that could impact operations and profitability[24]. - There are uncertainties regarding the expected benefits of fundraising projects due to potential changes in market demand and regulatory support[24]. - The actual controllers of the company, Hu Zhijun and Huang Xiuzhu, have committed to avoiding any business activities that may directly or indirectly compete with the company's main business[29]. - The company has taken measures to ensure its independence in assets, operations, personnel, finance, and institutions[29]. Commitments and Legal Responsibilities - The company has committed to measures to ensure the compensation for any dilution of immediate returns due to the issuance of convertible bonds[28]. - The controlling shareholders have expressed their intention to hold shares long-term, with a potential reduction of up to 20% of their holdings after the lock-up period[28]. - The company has established a commitment to not occupy the funds of its subsidiaries through loans or other means[29]. - The company has promised to compensate for any economic losses caused by violations of commitments related to labor dispatch and other financial obligations[30]. - The company will ensure strict adherence to all public commitments made during the IPO process, accepting social supervision[32]. - The company will publicly disclose reasons for any failure to fulfill commitments and apologize to shareholders and the public[32]. - The company will use its own funds to compensate investors for direct losses incurred due to reliance on unfulfilled commitments[32]. - The company will extend the lock-up period for shares held by individuals who fail to fulfill commitments until all negative impacts are resolved[32]. - The company reported a commitment to ensure the accuracy and completeness of the prospectus, taking legal responsibility for any false statements or omissions[31]. - The company will initiate compensation for investors within three working days if any false statements or omissions are identified by regulatory authorities[32].

Financial Performance - The company's operating revenue for Q1 2021 was ¥157,781,316.06, representing a 92.50% increase compared to ¥81,962,504.51 in the same period last year[8] - Net profit attributable to shareholders was ¥3,991,591.90, a significant turnaround from a loss of ¥3,040,119.56, marking a 231.30% increase[8] - The net profit after deducting non-recurring gains and losses was ¥3,464,225.89, compared to a loss of ¥3,623,348.42, reflecting a 195.61% improvement[8] - The basic earnings per share increased to ¥0.02 from a loss of ¥0.01, representing a 300.00% increase[8] - In Q1 2021, the company's operating revenue increased by CNY 75,818,811.55, a rise of 92.50% year-on-year, primarily due to stable market conditions and low base effects from the previous year's pandemic impact[17] - The net profit attributable to shareholders in Q1 2021 was CNY 3,991,591.90, a significant increase of 231.30% year-on-year[20] - The net profit for the first quarter of 2021 was CNY 4,277,321.04, a significant increase of 83.5% compared to CNY 2,333,271.90 in the same period last year[60] - The company reported a total comprehensive income of CNY 3,963,292.93 for Q1 2021, compared to a loss of CNY 3,210,076.16 in Q1 2020[57] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,031,595,001.14, a decrease of 2.18% from ¥1,054,600,066.54 at the end of the previous year[8] - The company's total assets reached ¥1,059,624,290.87 in Q1 2021, up from ¥1,054,600,066.54 in Q1 2020, indicating a slight growth in asset value[72] - The company's total liabilities were RMB 530,453,330.35, down from RMB 558,364,917.83, indicating a decrease of about 4.99%[48] - The total liabilities increased to ¥563,389,142.16 in Q1 2021 from ¥558,364,917.83 in Q1 2020, reflecting a rise in both current and non-current liabilities[72] - The company's current assets totaled RMB 515,133,955.40, down from RMB 546,850,485.69 at the end of 2020, indicating a decrease of about 5.79%[46] Cash Flow - The net cash flow from operating activities was ¥19,428,749.91, down 32.12% from ¥28,621,913.08 in the same period last year[8] - The cash flow from operating activities was impacted by an increase in payments for goods and services, totaling CNY 110,183,630.69, compared to CNY 72,256,715.24 last year[64] - The net cash flow from financing activities was negative at -¥17,630,843.57 in Q1 2021, compared to -¥45,465,563.65 in Q1 2020, showing an improvement in financing efficiency[68] Investments and R&D - R&D expenses in Q1 2021 increased by CNY 2,158,427.56, up 47.13% year-on-year, reflecting a rise in R&D investment compared to the same period last year[18] - The company reported a total cash inflow from investment activities of CNY 14,113,363.02, a decrease of 70% from CNY 47,099,043.01 in the previous year[65] - The company’s investment income in Q1 2021 decreased by CNY 65,599.99, a decline of 84.69% year-on-year, primarily due to reduced financial investment returns[18] Shareholder Commitments and Governance - The actual controllers of the company, Hu Zhijun and Huang Xiuzhu, have committed to avoiding any business activities that may directly or indirectly compete with the company's main business[29] - The company has ensured its independence in assets, operations, personnel, finance, and organization as per legal regulations[29] - The company reported a commitment to ensure the accuracy and completeness of the prospectus, taking legal responsibility for any false statements or omissions[30] - The controlling shareholders pledged to facilitate the buyback of all newly issued shares if any significant misrepresentation is identified by regulatory authorities[31] - The company has established a framework to protect the rights and interests of its shareholders against potential conflicts[29] Risks and Challenges - The company faces customer concentration risk, with the top five customers accounting for 63.17% of total revenue as of December 31, 2020[21] - The company faces risks related to natural disasters and public events that could impact operations and profitability[24] - There are uncertainties regarding the expected benefits of fundraising projects due to potential changes in national policies, funding availability, and market demand[24] Market Expansion - The company is actively expanding into the automotive parts market, which is expected to grow due to increasing vehicle ownership in China[23] - The project for producing 500,000 automotive functional parts, automotive lighting, and high-end interior and exterior parts is ongoing, with a planned completion date extended to December 31, 2021[37]

Financial Performance - The company's operating revenue for 2020 was CNY 578,167,831.67, representing a 3.86% increase compared to CNY 556,667,685.71 in 2019[25]. - The net profit attributable to shareholders for 2020 was CNY 14,512,225.92, a significant increase of 48.67% from CNY 9,761,176.96 in 2019[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 11,455,370.28, up 61.31% from CNY 7,101,526.19 in 2019[25]. - The net cash flow from operating activities reached CNY 63,627,352.79, marking a 93.08% increase from CNY 32,953,201.24 in 2019[25]. - Basic earnings per share for 2020 were CNY 0.070, a 75.00% increase compared to CNY 0.04 in 2019[25]. - Total assets at the end of 2020 amounted to CNY 1,054,600,066.54, reflecting a 5.10% increase from CNY 1,003,458,465.85 at the end of 2019[25]. - The net assets attributable to shareholders at the end of 2020 were CNY 497,750,189.03, which is a 1.76% increase from CNY 489,120,955.59 at the end of 2019[25]. - The company's total revenue for Q1, Q2, Q3, and Q4 were approximately ¥81.96 million, ¥167.89 million, ¥151.30 million, and ¥177.01 million respectively, showing a significant increase in Q2 and Q4[28]. - The net profit attributable to shareholders for Q1 was a loss of approximately ¥3.04 million, while Q2, Q3, and Q4 reported profits of approximately ¥5.29 million, ¥5.91 million, and ¥6.35 million respectively, indicating a recovery in profitability[28]. - The net cash flow from operating activities was approximately ¥28.62 million in Q1, dropping to ¥5.36 million in Q2, and then recovering to ¥28.25 million in Q4, reflecting fluctuations in cash generation[28]. Market and Industry Insights - The company is actively expanding into the automotive parts market, which is expected to continue growing due to increasing vehicle ownership in China[11]. - The automotive parts industry is crucial for the company's operations, providing essential components for vehicle manufacturing, and is expected to grow with the globalization of the economy[39]. - The overall plastic products industry in China faced a production decline of 6.45% in 2020, but the profit increased by 18.39%, indicating resilience amid economic challenges[39]. - The household appliance market in China reached a retail scale of 833.3 billion yuan in 2020, demonstrating resilience despite the pandemic, with significant growth in high-end and small household appliances[41]. - The automotive parts market is expected to align with international advanced levels, driven by government support for energy-saving and new energy vehicles as outlined in "Made in China 2025"[40]. - The demand for precision injection molds and injection parts is projected to expand due to the increasing shift towards high-end products and enhanced service offerings[101]. - The plastic processing industry in China is transitioning to a mature phase, with a stable growth rate expected, driven by high-end applications and technological advancements[99]. Investment and Projects - The company plans to build a new project with an annual production capacity of 5 million automotive functional parts and 700 million automotive plastic components[9]. - The company plans to raise up to CNY 14,000,000 through convertible bonds for new projects, including an annual production capacity of 5 million automotive functional parts[25]. - The company is implementing a project in Ningbo to produce 5 million automotive functional parts and high-end interior and exterior components[25]. - The company is also developing a project in Jiaxing for the production of 160 sets of precision injection molds and 7 million automotive plastic parts annually[25]. - The company is actively developing new projects, with ongoing efforts to enhance product development and technological innovation[85]. - The company aims to ensure orderly progress in new project development despite external uncertainties[85]. Risk Management - The company has established a comprehensive foreign exchange management system to mitigate risks from currency fluctuations[7]. - The company faces risks related to raw material price fluctuations, particularly for plastic pellets, which can impact operating performance[12]. - The company acknowledges the potential impact of natural disasters and public emergencies on its operations and profitability[14]. - The company has implemented a cautious investment strategy in response to macroeconomic uncertainties[86]. - The company is assessing customer and project risks to selectively choose projects for investment, aligning with industry development trends[83]. Governance and Shareholder Relations - The company has implemented a robust governance structure to protect minority shareholders from potential adverse effects of the controlling shareholders[8]. - The company will distribute a cash dividend of 0.8 yuan per 10 shares (including tax) based on a total of 221,993,208 shares[14]. - The company implements a profit distribution policy prioritizing cash dividends, with a minimum of 20% of distributable profits allocated for cash dividends annually[110]. - The cash dividend distribution represents 122.38% of the net profit attributable to ordinary shareholders for 2020[123]. - The company has committed to measures to ensure the compensation plan is linked to the execution of its return compensation measures[124]. - The controlling shareholders have pledged not to interfere with the company's management activities or infringe on its interests[125]. - The company has established a long-term commitment to protect the legitimate rights and interests of small investors[125]. Financial Management - The company has engaged in financial management, with a total of 37 million RMB in bank wealth management products, and 4 million RMB overdue[158]. - The company’s cash and cash equivalents increased by 50.77% to 29.6 million yuan due to improved cash flow and concentrated collections at the end of the reporting period[44]. - The company's receivables increased by 446.80% to 4.47 million yuan, primarily due to an increase in bank acceptance bills received during the reporting period[44]. - The company's investment properties increased by 216.79% to 26.67 million yuan, attributed to the rental of properties during the reporting period[45]. - The company’s trading financial assets decreased by 66.67% to 800,000 yuan, primarily due to a reduction in bank wealth management products[44]. Compliance and Regulatory Matters - The company has not issued any non-standard audit reports for the reporting period[133]. - The company is in compliance with the new accounting standards and has made necessary adjustments to its accounting policies[134]. - The company has committed to fulfilling all public commitments made during its initial public offering and will accept social supervision[131]. - The company emphasizes the importance of maintaining the legal rights of the company and all shareholders during the issuance process[129]. - The company will ensure that all actions taken are in compliance with legal requirements and protect the interests of investors[129]. Shareholder Structure and Changes - The total number of shares for the 2020 dividend distribution is 221,993,208[119]. - Major shareholders include Hu Zhijun and Huang Xiuzhu, holding 31.98% and 31.72% of shares respectively, with no changes in their holdings during the reporting period[189]. - The actual controllers of the company are Hu Zhijun and Huang Xiuzhu, with Hu Zhijun serving as the Chairman and General Manager[193]. - The company’s total share capital now consists of 49.03% restricted shares and 50.97% unrestricted shares[178]. - The company’s total restricted shares at the beginning of the period were 106,888,094, with an increase of 2,005,000 during the reporting period[185].

Financial Performance - Operating revenue for the reporting period was CNY 151,299,566.73, an increase of 26.98% year-on-year[7]. - Net profit attributable to shareholders was CNY 5,911,099.19, representing a significant increase of 120.84% compared to the same period last year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 5,189,045.49, up 99.25% year-on-year[7]. - Basic earnings per share for the reporting period were CNY 0.0166, an increase of 66.00% compared to the same period last year[7]. - The weighted average return on equity was 1.19%, an increase of 64.00% year-on-year[7]. - The net profit for the third quarter of 2020 reached CNY 5,394,747.22, compared to CNY 2,639,338.30 in the previous year, indicating a significant increase of about 104.3%[50]. - The total profit for the third quarter was CNY 8,578,969.46, an increase from CNY 4,109,214.98, indicating a growth of approximately 108.0%[50]. - The basic earnings per share for the third quarter were CNY 0.0166, compared to CNY 0.01 in the same period last year, representing a growth of 66%[51]. - The comprehensive income for the third quarter totaled CNY 5,350,165.87, compared to CNY 2,651,651.64 in the previous year, indicating an increase of about 102.6%[51]. Cash Flow - The net cash flow from operating activities was CNY 1,400,032.94, a decrease of 89.76% compared to the previous year[7]. - As of September 30, 2020, the company's cash inflow from operating activities was CNY 386,260,962.33, down from CNY 460,103,830.39 in the previous year, indicating a decrease of approximately 16.1%[66]. - The net cash flow from operating activities for Q3 2020 was ¥35,378,763.68, an increase from ¥21,777,544.98 in Q3 2019, representing a growth of approximately 62.5%[68]. - The total cash inflow from investment activities was ¥54,945,524.83, significantly lower than ¥436,775,882.15 in the previous year, indicating a decrease of about 87.4%[68]. - The net cash flow from financing activities was -¥40,462,283.56, compared to a positive net flow of ¥57,264,029.49 in Q3 2019, reflecting a decline of approximately 170.8%[69]. - The company experienced a negative impact of -¥3,233,855.76 from exchange rate fluctuations on cash and cash equivalents[69]. - The net increase in cash and cash equivalents for Q3 2020 was -¥16,885,943.61, contrasting with an increase of ¥31,501,204.27 in Q3 2019, reflecting a decline of approximately 153.6%[69]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 972,359,678.14, a decrease of 3.10% compared to the end of the previous year[7]. - Total liabilities decreased to CNY 482,780,633.09 from CNY 512,740,270.33, a reduction of about 5.8%[41]. - Current liabilities totaled CNY 428,206,262.46, down from CNY 444,180,116.89, indicating a decrease of approximately 3.6%[41]. - Non-current liabilities decreased to CNY 54,574,370.63 from CNY 68,560,153.44, a decline of about 20.4%[41]. - Owner's equity totaled CNY 489,579,045.05, slightly down from CNY 490,718,195.52, a decrease of about 0.2%[43]. - Total liabilities to equity ratio stands at approximately 1.04, indicating a balanced capital structure[81]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,297[11]. - The largest shareholder, Hu Zhijun, holds 31.98% of the shares, amounting to 70,992,900 shares[11]. - The actual controller of the company, Mr. Hu Yongji, completed a share reduction plan, reducing his holdings from 2,809,545 shares (1.28%) to 0 shares[29]. - The company reported no violations regarding external guarantees during the reporting period[33]. - There were no non-operating fund occupations by the controlling shareholders or related parties during the reporting period[34]. Government Subsidies and Other Income - The company received government subsidies amounting to CNY 3,198,205.78 during the reporting period[9]. - Other income increased by CNY 1,367,665.14, up 74.71% year-on-year, primarily due to an increase in government subsidies related to daily revenue[23]. Investment and Projects - The company announced a delay in the completion of its investment projects to December 31, 2021, including the "Haidexin Project" and the "Jiaxing Project" for automotive components[27]. - The company completed the registration of its restricted stock incentive plan on July 23, 2020, in accordance with relevant regulations[26]. Expenses - Research and development expenses for the third quarter amounted to CNY 5,271,586.38, a decrease from CNY 6,224,717.86 in the same quarter last year, showing a reduction of about 15.3%[49]. - The total operating costs for the third quarter were CNY 142,347,122.75, compared to CNY 115,797,665.37 in the previous year, which is an increase of approximately 22.9%[49]. - The financial expenses for the third quarter were CNY 5,061,124.47, significantly higher than CNY 2,041,393.89 in the previous year, marking an increase of about 148.7%[49]. - The tax expenses for the third quarter were CNY 3,184,222.24, compared to CNY 1,469,876.68 in the same period last year, reflecting an increase of approximately 116.5%[50].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥249,854,809.66, a decrease of 8.87% compared to ¥274,163,507.16 in the same period last year[19]. - The net profit attributable to shareholders was ¥2,253,101.19, down 44.82% from ¥4,083,009.91 year-on-year[19]. - The basic earnings per share decreased by 50.00% to ¥0.01 from ¥0.02 in the same period last year[19]. - The weighted average return on net assets decreased to 0.46% from 0.91% year-on-year[19]. - The gross margin for injection molding products was 17.04%, reflecting a decrease of 1.61% compared to the previous year[45]. - The company reported a net profit of CNY 1,283,077.69 for the first half of 2020, compared to a net profit of CNY 3,613,381.34 in the same period of 2019, reflecting a decline in profitability[180]. - The company reported a net profit of 2,056 million yuan, which is a decrease of 8.54% compared to the same period last year[196]. Cash Flow and Liquidity - The net cash flow from operating activities increased significantly by 319.51%, reaching ¥33,978,730.74 compared to ¥8,099,714.47 in the previous year[19]. - The net cash flow from financing activities decreased significantly by 1,304.19% to -CNY 35.63 million, primarily due to increased debt repayments[43]. - The total cash and cash equivalents at the end of the period stood at ¥46,014,605.66, down from ¥11,281,983.00 in the previous year, marking a decrease of approximately 59%[190]. - The company's cash and cash equivalents decreased to CNY 30,695,094.61 as of June 30, 2020, from CNY 47,181,451.14 at the end of 2019, indicating liquidity challenges[176]. - The total cash outflow from financing activities was ¥127,110,883.92, compared to ¥87,344,955.16 in the previous year, indicating an increase of approximately 45%[190]. Investments and Projects - The company is strategically expanding into the automotive parts sector, with the "Haidexin Project" aimed at producing 5 million automotive functional parts annually[37]. - The completion deadline for the "Haidexin Project" has been extended to December 31, 2021, due to market and policy considerations[38]. - The "Jiaxing Project" for producing 160 precision injection molds and 7 million automotive plastic parts is also underway, with a completion deadline extended to December 31, 2021[39][40]. - The company has ongoing projects in the automotive parts manufacturing sector, with substantial investments planned[52]. - The company is focusing on expanding its market presence through new projects and investments in the automotive industry[52]. Research and Development - The company’s R&D investment decreased by 27.42% to CNY 9.58 million compared to the previous year[43]. - Research and development expenses decreased to CNY 9,581,750.20 in the first half of 2020 from CNY 13,201,126.01 in the previous year, showing a focus on cost management[180]. - The R&D expenditure for the first half of 2020 was 6,432 million yuan, accounting for approximately 2.93% of total revenue[198]. Shareholder and Governance Matters - The company plans not to distribute cash dividends or issue bonus shares[6]. - The actual controller and major shareholders have committed to avoiding competition with the company and have fulfilled their commitments as of the report date[79]. - The company has made commitments regarding shareholding intentions and potential reductions post-lockup period, with a maximum of 20% reduction in the first year after the lockup[80]. - The company has disclosed its commitment to avoid any direct or indirect competition with its main business[80]. - The company has committed to timely fulfill its obligations to minority shareholders[91]. Market Outlook and Strategy - The company provided a positive outlook for the second half of 2020, projecting a revenue growth of 25% year-over-year, driven by new product launches and market expansion strategies[89]. - The company plans to focus on market expansion and new product development in the upcoming quarters to drive growth[180]. - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the market[199]. - Future guidance suggests a cautious outlook, with expectations of gradual recovery in the latter half of the year[200]. Risk Management - The company has established a comprehensive foreign exchange management system to mitigate risks from currency fluctuations[70]. - The main raw material, plastic pellets, is subject to price volatility, which could impact the company's operating performance[73]. - The company acknowledges the potential impact of natural disasters and public emergencies on its operations and profitability[73]. Compliance and Regulatory Matters - The company did not conduct an audit for the semi-annual financial report[92]. - There were no significant litigation or arbitration matters during the reporting period[94]. - The company has not undergone any bankruptcy restructuring during the reporting period[93]. - The financial report does not contain any non-standard audit report[93]. Share Capital and Securities - The company issued 1.4 million convertible bonds with a total value of 140 million yuan, with a maturity period from July 26, 2018, to July 26, 2024[129]. - The company has received approval from the China Securities Regulatory Commission for the issuance of convertible bonds[129]. - The total number of common shareholders at the end of the reporting period is 12,272[132]. - The largest shareholder, Hu Zhijun, holds 32.27% of shares, totaling 70,992,900 shares, with 22,727,300 shares pledged[132].

Revenue and Profitability - The company's operating revenue for 2019 was CNY 556,667,685.71, representing a 0.45% increase compared to CNY 554,199,007.25 in 2018[24]. - The net profit attributable to shareholders for 2019 was CNY 9,761,176.96, a decrease of 3.50% from CNY 10,115,063.73 in 2018[24]. - The company's revenue for 2018 was 79.42 million, representing a 78.52% increase compared to 2017's revenue of 64.79 million[141]. - The cash dividend distribution represents 100% of the total distributable profit of RMB 141,788,712.18 for the year[135]. - The company's cash dividend for 2019 is 81.96% of the net profit attributable to ordinary shareholders, which is RMB 9,761,176.96[140]. Customer and Supplier Concentration - The revenue from the top five customers accounted for 68.43% of the total operating income as of December 31, 2019[5]. - The company has a high customer concentration risk, with significant reliance on a few key clients for revenue[5]. - The top five suppliers represented 18.46% of total purchases, with the largest supplier accounting for 4.76%[74]. Market Expansion and Strategy - The company is actively expanding into the automotive parts market, which is expected to continue growing due to increasing vehicle ownership in China[10]. - The company plans to increase production capacity with projects aimed at producing 5 million automotive functional parts and 700 million automotive plastic components annually[8]. - The company aims to enhance its core competitiveness through technology introduction and innovation in the precision mould and injection molding sector[34]. - The company has successfully expanded into the automotive parts market, aligning with its strategic plan to increase market share and enhance core competitiveness[37]. Financial Management and Investments - The company successfully issued convertible bonds totaling 140 million RMB in 2019 to support new projects[8]. - The company's cash and cash equivalents increased by CNY 55.44 million, a rise of 77.40%, primarily due to new loans during the reporting period[47]. - The company reported an investment of ¥44,517,559.84 during the reporting period, a decrease of 72.64% compared to the previous year[87]. - The company plans to use up to CNY 18 million of temporarily idle raised funds for cash management, investing in low-risk financial products[96]. Research and Development - The company has obtained 8 invention patents, 89 utility model patents, and 11 design patents as of December 31, 2019, showcasing its innovation capabilities[49]. - R&D expenses increased by 7.47% to ¥26.30 million, reflecting the company's commitment to innovation[76]. - The company has a total of 115 R&D personnel, accounting for 11.58% of the workforce, an increase from 9.69% in 2018[78]. Risk Management - The company has established a comprehensive foreign exchange management system to mitigate risks from currency fluctuations[6]. - The company faces risks related to raw material price fluctuations, particularly for plastic granules, which could impact operating performance[11]. - The company has implemented a robust governance structure to protect minority shareholders from potential risks associated with the controlling shareholders[7]. Profit Distribution Policy - The company implements a profit distribution policy that prioritizes cash dividends, with a minimum of 20% of distributable profits allocated for cash dividends in profitable years[128]. - The company plans to review and adjust its profit distribution policy every three years based on future profitability and cash flow forecasts[131]. - The cash dividend distribution plan requires approval from more than half of the board and two-thirds of the voting rights at the shareholders' meeting[133]. Corporate Governance and Compliance - The company has established measures to ensure independence in assets, business, personnel, and finance from other entities controlled by the actual controllers[145]. - The company has committed to fulfilling all public commitments made regarding its initial public offering and listing[146]. - The company will ensure that the remuneration system for executives is linked to the execution of compensation measures[148]. Accounting and Financial Reporting - The company has adopted new accounting policies related to financial instruments, effective from January 1, 2019, which include a shift to an expected credit loss model for impairment measurement[154]. - The adjustments made to the financial statements due to the new accounting policies and estimates are aimed at providing a more accurate reflection of the company's financial position[155]. - The board of directors approved the changes in accounting estimates on April 9, 2019, to enhance the objectivity and fairness of financial reporting[156]. Social Responsibility and Environmental Compliance - The company has maintained a commitment to social responsibility, focusing on labor rights and investor relations since its listing in August 2016[181]. - The company is not classified as a key pollutant unit by environmental protection authorities[184].

Financial Performance - Total revenue for Q1 2020 was ¥81,962,504.51, a decrease of 38.35% compared to ¥132,956,077.27 in the same period last year[7] - Net profit attributable to shareholders was -¥3,040,119.56, representing a decline of 184.08% from ¥3,615,840.47 in the previous year[7] - The company's operating revenue for the reporting period decreased by 38.35% year-on-year, amounting to 81,962,504.51 yuan, primarily due to delays in resuming operations caused by the COVID-19 pandemic[19] - The total profit for the reporting period resulted in a loss of 2,699,490.84 yuan, with a net loss attributable to shareholders of 3,040,119.56 yuan[19] - The company's net profit for Q1 2020 was -3,218,437.27 CNY, a significant decline from the previous year's profit of 3,687,308.72 CNY[55] - The total comprehensive income for Q1 2020 was -3,210,076.16 CNY, contrasting sharply with 3,665,151.14 CNY in the previous year[55] Cash Flow and Assets - Net cash flow from operating activities increased by 84.68% to ¥28,621,913.08, up from ¥15,497,868.30 in the same period last year[7] - The company's cash flow from operating activities increased by 1,312.40 million yuan, up 84.68%, mainly due to increased tax refunds and reduced cash payments related to operations[17] - The company's cash flow from investing activities increased by 1,203.12 million yuan, up 65.74%, primarily due to reduced cash payments for fixed assets and intangible assets[17] - The company's cash flow from financing activities decreased by 4,779.14 million yuan, down 2753.16%, primarily due to increased cash payments for debt repayment[18] - As of March 31, 2020, the company's total assets amounted to RMB 939.59 million, a decrease from RMB 1,003.46 million as of December 31, 2019, reflecting a decline of approximately 6.36%[45] - The company's cash and cash equivalents decreased to RMB 38.72 million from RMB 58.30 million, representing a decline of about 33.67%[45] - The ending balance of cash and cash equivalents decreased to 11,504,804.98 CNY from 24,339,108.91 CNY, reflecting a decline of 52.7%[66] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 12,299[11] - The top two shareholders, Hu Zhijun and Huang Xiuzhu, held 32.27% and 32.01% of shares respectively, with significant portions pledged[11] - The company has committed to long-term shareholding intentions by major shareholders, with a maximum of 20% share reduction expected in the first year after the lock-up period ends[29] - Major shareholders have pledged not to engage in any business activities that directly or indirectly compete with the company's main business[29] - Shareholders will announce any share reduction plans three trading days in advance, ensuring transparency in their actions[29] Operational Changes and Commitments - On January 20, 2020, the company's subsidiary, Ningbo Haidexin, was recognized as a high-tech enterprise, receiving a certificate valid for three years[24] - On February 17, 2020, the company announced a change in the business scope of its subsidiary, Shenzhen XG, adding medical devices and masks to its production and sales[25] - The company has committed to compensating for any economic losses incurred by subsidiaries due to lease disputes or production disruptions[30] - The company is actively seeking suitable alternative production facilities to mitigate any operational disruptions[30] - The company has established measures to protect investor interests, including a commitment to not transfer benefits to other entities or individuals unfairly[32] Regulatory Compliance and Governance - The company is focused on ensuring compliance with all relevant laws and regulations regarding its operations[29] - The company has committed to not using funds from its subsidiaries through loans or other means, ensuring financial integrity[30] - The company has outlined a strategy to maintain compliance with tax regulations to avoid future liabilities[30] - The company has pledged to comply with the latest regulatory requirements from the China Securities Regulatory Commission regarding return compensation measures[34] Investment and Financial Management - The total amount of raised funds is 13,356.06 million CNY, with 673.13 million CNY invested in the current quarter[36] - Cumulative investment of raised funds amounts to 13,246.84 million CNY[36] - The company has completed 99.18% of its committed investment projects, with a total investment of RMB 13.36 million[37] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[40] - The company has established measures to ensure the fulfillment of return compensation measures[34]