Financial Performance - Total revenue for Q1 2018 was ¥88,833,928.68, a decrease of 17.37% compared to ¥107,510,626.96 in the same period last year[7] - Net profit attributable to shareholders was ¥23,876,007.65, down 17.93% from ¥29,092,272.69 year-on-year[7] - Net profit excluding non-recurring items was ¥12,948,817.94, reflecting a significant decline of 54.52% from ¥28,473,172.56 in the previous year[7] - Basic and diluted earnings per share were both ¥0.24, down 17.24% from ¥0.29 in the previous year[7] - Operating profit was 27.60 million RMB, down 19.37% year-on-year[22] - The total comprehensive income attributable to the parent company was ¥23,876,007.65, a decrease of 18.5% from ¥29,092,272.69 in the prior year[47] Cash Flow - Operating cash flow showed a net outflow of ¥34,134,261.34, worsening by 206.70% compared to a net outflow of ¥11,129,469.00 in the same period last year[7] - Net cash flow from operating activities decreased by 206.70% compared to the same period last year, primarily due to a reduction in cash received from sales of goods and services[21] - Cash inflows from operating activities totaled 62,277,752.83, down from 75,395,935.71 in the previous period, reflecting a decrease of approximately 17.5%[54] - Cash outflows from operating activities increased to 95,930,672.89 from 87,137,910.88, representing an increase of about 10.3%[55] - The net cash flow from operating activities was -33,652,920.06, compared to -11,741,975.17 in the previous period, indicating a significant decline[55] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,071,822,913.40, an increase of 0.94% from ¥1,061,827,807.34 at the end of the previous year[7] - Total assets as of March 31, 2018, were 1.07 billion RMB, an increase of 0.94% from the end of the previous year[22] - Total liabilities decreased to CNY 161,984,881.74 from CNY 175,634,680.29 at the beginning of the year, reflecting a reduction of 7.8%[39] - Accounts receivable at the end of the reporting period amounted to 222.18 million RMB, an increase of 34.10% from the beginning of the year[22] - Accounts receivable increased to CNY 222,177,496.81 from CNY 165,676,634.38, representing a growth of 34.1%[37] Expenses - Sales expenses increased by 49.86% year-on-year, mainly due to the expansion of the marketing team[22] - Financial expenses rose by 63.67% compared to the previous year, primarily due to a decrease in interest income[22] - The company reported a decrease in tax expenses to CNY 3,807,176.77 from CNY 5,141,423.91, a reduction of 26%[42] - The company reported a significant increase in tax payments, totaling 9,604,088.18, compared to 6,912,539.24 in the previous period[55] Strategic Focus - The company is focusing on innovation and industrial upgrading to enhance competitiveness amid a challenging economic environment[12] - The company is increasing R&D investment and strengthening collaboration with key domestic universities to maintain technological innovation[12] - The company faces risks related to economic cycles, technology, and management as it expands its business scale[12] Other Financial Metrics - Other income increased by 1,665.26% year-on-year, mainly due to the receipt of VAT refunds on military product sales[22] - The company incurred asset impairment losses of ¥2,643,320.27 in Q1 2018, down from ¥3,656,771.28 in the previous year[47] - The company did not engage in any repurchase transactions during the reporting period[16] - The total amount of raised funds is 30,510,000, with 1,009,560 invested in the current quarter[25] - Cumulative amount of raised funds invested is 23,475,010, representing 82.07% of the committed investment project for marine electrical equipment expansion[25]

Financial Performance - The company's operating revenue for 2017 was CNY 415,373,907.91, representing a 12.94% increase compared to CNY 367,775,284.48 in 2016[17]. - The net profit attributable to shareholders for 2017 was CNY 107,774,786.09, a 5.97% increase from CNY 101,707,416.15 in 2016[17]. - The basic earnings per share for 2017 was CNY 1.10, down 19.12% from CNY 1.36 in 2016[17]. - The weighted average return on equity decreased to 12.99% in 2017 from 21.82% in 2016, a decline of 8.83%[17]. - The company reported a total of CNY 10,523,030.57 in government subsidies for 2017, compared to CNY 7,320,366.27 in 2016[23]. - Total revenue for 2017 was CNY 415.37 million, representing a year-on-year increase of 12.94% from CNY 367.78 million in 2016[57]. - Operating profit reached 126.88 million yuan, up 13.11% year-on-year[29]. - The company reported a revenue of 1.5 billion RMB for the fiscal year 2023, representing a 15% increase year-over-year[146]. Dividend Distribution - The company reported a profit distribution plan to distribute cash dividends of 2.5 RMB (including tax) for every 10 shares based on 10 million shares, along with 6 bonus shares (including tax) for every 10 shares[7]. - The cash dividend distribution for 2016 was CNY 4.50 per 10 shares, totaling CNY 45,000,000.00 distributed to shareholders[93]. - The cash dividends for 2017 accounted for 44.24% of the net profit attributable to shareholders, which was 108,029,393.99 RMB[98]. - The cash dividends for 2018 were 25,000,000 RMB, representing 23.20% of the net profit attributable to shareholders of 107,774,786.09 RMB[98]. - The cash dividend represents 29.41% of the total distributable profit of 360,933,680.20 RMB[95]. - The company has ensured that minority shareholders' rights are fully protected during the dividend distribution process[94]. Business Operations - The company's main business focuses on the research, production, and sales of electrical and automation systems for ships and marine engineering, with significant revenue dependence on the shipbuilding industry[5]. - The company operates primarily in the ship electrical and automation systems sector, focusing on R&D, production, and sales of ship power distribution systems and automation systems[27]. - The company follows a direct sales model without distributors, engaging directly with shipowners, shipyards, and design institutes[27]. - The company has established long-term cooperative relationships with major domestic shipyards and design institutes, enhancing its market position[31]. - The company has formed a joint research center with Shanghai Jiao Tong University to focus on key technologies in marine electrical and energy management[48]. Research and Development - The company emphasizes the need for continuous investment in technology research and development to mitigate risks from technological advancements and competition[6]. - The company invested CNY 28.51 million in R&D, accounting for 6.86% of total revenue, and added 3 new national defense patents during the reporting period[49]. - The company added 3 new invention patents during the reporting period, with 8 more under review, totaling 42 patents including 12 invention patents[40]. - Research and development (R&D) investment reached ¥28,510,566.57, accounting for 6.86% of operating revenue, an increase from 6.58% in the previous year[69]. - The company aims to improve its technical research and development capabilities through partnerships with universities and research institutions[89]. Market Trends and Risks - The company faces risks related to fluctuations in downstream market demand, particularly influenced by global maritime transport industry trends[5]. - Military-related product revenue constitutes a significant portion of total sales, making the company vulnerable to risks associated with maintaining necessary qualifications and certifications[6]. - Significant increases in accounts receivable and prepayments were noted due to expanded production and sales growth during the reporting period[37]. - The shipbuilding industry in China saw a 20.9% year-on-year increase in completed shipbuilding tonnage, totaling 42.68 million deadweight tons[33]. - New ship orders increased by 60.1% year-on-year, amounting to 33.73 million deadweight tons[33]. Corporate Governance - The company has established a comprehensive corporate governance structure to manage rapid business and asset growth, requiring ongoing adjustments to management practices[7]. - The company is committed to addressing potential management risks that could hinder normal business operations and long-term development opportunities[7]. - The company has maintained a strong commitment to corporate governance, with all promised commitments fulfilled on time[110]. - The board of directors consists of 9 members, including 3 independent directors, meeting legal and regulatory requirements[166]. - The company has implemented a training and evaluation system to enhance core technical capabilities and transform human resources into competitive advantages[164]. Shareholder Information - The total number of shares for the dividend distribution plan is based on a total share capital of 100,000,000 shares[95]. - The company had a total of 9,764 ordinary shareholders at the end of the reporting period, up from 9,291 at the end of the previous month[125]. - The largest shareholder, Gong Ruiliang, holds 40.78% of the shares, totaling 40,781,250 shares[125]. - The second-largest shareholder, Suzhou Ruit Investment Co., Ltd., holds 13.05% of the shares, totaling 13,050,000 shares[125]. - The company has not reported any changes in shareholding for several other board members, indicating stability in management[136]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 20% based on anticipated market expansion and new product launches[103]. - The company expects a revenue growth of 10% for the next fiscal year, projecting a target of 1.65 billion RMB[146]. - New product launches are anticipated to contribute an additional 200 million RMB in revenue in the upcoming year[146]. - The company is planning to expand its market presence in Southeast Asia, targeting a 15% market share within the next two years[105]. - A strategic acquisition of a smaller competitor was completed, which is expected to enhance the company's technological capabilities and increase market share by 10%[106].

Financial Performance - Operating revenue for the reporting period was ¥89,294,445.39, down 19.70% compared to the same period last year[9] - Net profit attributable to shareholders of the listed company was ¥27,149,290.55, a decrease of 27.42% year-on-year[9] - Basic earnings per share decreased by 46.00% to ¥0.27 compared to the same period last year[9] - The weighted average return on net assets was 3.19%, down 4.56% from the previous year[9] - The company's operating revenue for Q3 2017 was CNY 89,294,445.39, a decrease of 19.8% compared to CNY 111,194,658.22 in the same period last year[38] - The net profit for Q3 2017 was CNY 27,149,290.55, down 27.5% from CNY 37,404,500.74 in Q3 2016[35] - The total profit for Q3 2017 was CNY 31,739,764.25, a decline of 28.2% compared to CNY 44,125,101.77 in the previous year[34] - The company's operating profit for Q3 2017 was CNY 31,839,801.65, which is a decrease of 26.9% from CNY 43,506,067.76 in Q3 2016[34] - The company's basic and diluted earnings per share for Q3 2017 were both CNY 0.27, down from CNY 0.50 in the same period last year[35] - The total comprehensive income for Q3 2017 was ¥85,439,214.71, slightly lower than ¥85,928,633.74 in Q3 2016, a decrease of 0.6%[44] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,029,694,283.62, an increase of 45.27% compared to the end of the previous year[9] - Net assets attributable to shareholders of the listed company were ¥864,630,342.17, reflecting a growth of 67.26% year-on-year[9] - Total liabilities decreased to CNY 165,063,941.45 from CNY 191,880,802.86, a reduction of 13.9%[27] - Non-current assets totaled CNY 315,896,475.36, up from CNY 265,145,204.36, indicating an increase of 19.2%[26] - Fixed assets increased to CNY 166,804,328.91 from CNY 154,625,793.39, reflecting a growth of 7.1%[26] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥59,545,421.19, a significant decline of 1,698.09%[9] - Cash flow from operating activities for Q3 2017 was negative at -¥59,545,421.19, compared to -¥3,311,602.13 in Q3 2016, indicating a significant decline in cash flow[50] - The cash flow from operating activities showed a total inflow of 211,255,323.82 CNY, down from 259,956,474.03 CNY in the previous period[52] - The company reported a decrease in cash received from sales of goods and services to 207,766,738.01 CNY, down from 257,355,712.76 CNY[52] - The cash outflow for purchasing goods and services was 159,104,566.35 CNY, slightly lower than 165,024,507.30 CNY in the previous period[52] - The company experienced a net cash outflow from investment activities of -57,695,898.53 CNY, compared to -84,743,152.27 CNY in the previous period[52] Shareholder Information - The company reported a total of 11,259 common shareholders at the end of the reporting period[13] - The largest shareholder, Gong Ruiliang, holds 40.78% of the shares, totaling 40,781,250 shares[14] Other Financial Metrics - The company did not report any non-recurring gains or losses during the reporting period[12] - The cash balance at the end of the reporting period was RMB 286.90 million, an increase of 101.24% compared to the beginning of the year, primarily due to the inflow of raised funds[18] - Accounts receivable at the end of the reporting period amounted to RMB 213.84 million, a growth of 131.85% year-to-date, driven by expanded production and sales revenue[18] - Prepayments reached RMB 15.66 million, up 199.93% from the beginning of the year, mainly due to increased advance payments for equipment and materials[18] - The balance of construction in progress was RMB 22.64 million, a significant increase of 335.71%, attributed to increased investment in the Shenzhen R&D center project[18] - The company's total equity increased by 33.33% to RMB 100 million, due to the issuance of 25 million new shares during the reporting period[18] - The company's capital reserve increased by 285.77% to RMB 381.01 million, primarily due to the premium from the issuance of new shares[18] - The balance of other payables increased by 538.21% to RMB 291,700, mainly due to an increase in special funds during the reporting period[18] - The company reported a 42.43% increase in taxes and surcharges compared to the same period last year, due to changes in accounting treatment for certain taxes[18]

Financial Performance - The company's total revenue for the reporting period reached ¥234,720,254.83, representing a year-on-year increase of 29.73% compared to ¥180,930,091.73 in the same period last year[18]. - Net profit attributable to shareholders was ¥58,289,924.16, up 20.13% from ¥48,524,133.00 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was ¥57,258,605.34, reflecting an 18.84% increase from ¥48,180,470.89 year-on-year[18]. - The company's total assets increased by 41.6% to ¥1,003,712,066.73 from ¥708,824,383.10 at the end of the previous year[18]. - Shareholders' equity attributable to the company rose by 62.01% to ¥837,481,051.62 from ¥516,943,580.24 at the end of the previous year[18]. - The net cash flow from operating activities was negative at -¥54,331,685.25, a decline of 375.60% compared to ¥19,713,997.99 in the same period last year[18]. - Basic and diluted earnings per share decreased by 9.91% to ¥0.5829 from ¥0.6470 in the previous year[18]. - The weighted average return on equity was 7.27%, down 3.77% from 11.04% in the previous year[18]. Investment and Fundraising - The fundraising projects, including the expansion of marine electrical equipment and the establishment of a research and development center, are expected to enhance overall corporate efficiency and competitiveness[6]. - The total amount of raised funds is CNY 30,510.00 million, with CNY 1,934.38 million invested during the reporting period[61]. - Cumulative investment of raised funds reached CNY 20,274.43 million, with no changes in the use of raised funds during the reporting period[62]. - The ship electrical equipment expansion project has a total investment commitment of CNY 23,370 million, with 73.95% of the investment completed as of the reporting date[64]. - The R&D center construction project has a total investment of CNY 4,140 million, with 31.26% of the investment completed[64]. Research and Development - The company emphasizes the need for ongoing investment in technology research and development to mitigate risks associated with technological advancements and competition[5]. - The company has developed a medium-voltage shore power device that significantly reduces the number of shore power cables and enhances the reliability and safety of power supply[34]. - The company holds 39 software copyrights and 39 patents, including 12 invention patents, showcasing its strong R&D capabilities[36]. - Research and development investment surged by 124.53% to CNY 14.09 million, driven by increased R&D activities[50]. Market and Industry Context - The company reported a significant reliance on the shipbuilding industry, which is currently facing downward pressure due to a lack of global economic recovery, impacting overall business performance[4]. - The growth in revenue and profit is attributed to the development of the shipbuilding industry and the company's competitive advantages in the market[30]. - In the first half of 2017, the national shipbuilding completion reached 26.54 million deadweight tons, a year-on-year increase of 57.4%, while new ship orders declined by 29% to 11.51 million deadweight tons[34]. - The main business income of the shipbuilding supporting industry was 38.61 billion yuan, representing a year-on-year growth of 2%[34]. Corporate Governance and Compliance - The company has not proposed any cash dividends or stock bonuses for the reporting period, indicating a focus on reinvestment[7]. - The company’s governance structure has been strengthened to support rapid business and asset growth, necessitating adjustments in management practices[6]. - The company has maintained consistent contact information and disclosure practices throughout the reporting period, ensuring transparency[15]. - The company’s registration details have remained unchanged, indicating stability in its corporate structure[17]. - The company has not engaged in any entrusted financial management or derivative investments during the reporting period[67][68]. - The company has not sold any significant assets or equity during the reporting period[70][71]. Risks and Challenges - The company faces risks related to market environment changes that could adversely affect the implementation of its fundraising projects[6]. - The company is facing risks related to economic cycles, technology, and management as it expands its business scale[73]. Shareholder Information - The company’s stock is listed on the Shenzhen Stock Exchange under the ticker symbol 300600, reflecting its public trading status[13]. - The total number of shareholders at the end of the reporting period was 11,250[114]. - The largest shareholder, Gong Ruiliang, holds 40.78% of the shares, totaling 40,781,250 shares[115]. - The second-largest shareholder, Suzhou Ruiter, owns 13.05% of the shares, amounting to 13,050,000 shares[115]. - Shareholders are restricted from transferring shares for 36 months post-IPO, with ongoing compliance[82]. Financial Reporting and Accounting - The half-year financial report was not audited[86]. - The company has no major related party transactions during the reporting period[94]. - The company has no major issues related to media questioning during the reporting period[90]. - The company’s financial statements are prepared in Renminbi (RMB) as the functional currency[177]. - The accounting policies comply with the enterprise accounting standards, ensuring the financial statements reflect the company's financial status accurately[174].

Financial Performance - Total revenue for Q1 2017 was CNY 107,510,626.96, representing a 27.54% increase compared to CNY 84,292,357.46 in the same period last year[7] - Net profit attributable to shareholders was CNY 29,092,272.69, up 30.52% from CNY 22,290,055.58 year-on-year[7] - The total profit reached 29.09 million RMB, reflecting a growth of 30.52% year-on-year[19] - Net profit attributable to shareholders was 28.47 million RMB, up by 28.63% compared to the previous year[19] - The net profit for the first quarter of 2017 was CNY 29,024,672.27, an increase of 28.8% compared to CNY 22,517,550.61 in the same period last year[42] - The total operating profit for the first quarter was CNY 33,444,546.18, up from CNY 26,308,944.46, reflecting a growth of 27.5% year-over-year[42] Cash Flow - Net cash flow from operating activities improved to -CNY 11,129,469.00, a 61.03% reduction in losses compared to -CNY 28,557,593.16 in the previous year[7] - The net cash flow from investment activities was -33,025,656.92 CNY, compared to -22,006,280.44 CNY in the previous period, indicating a decrease of approximately 50.0%[50] - The net cash flow from financing activities was 305,194,000.00 CNY, showing a significant increase compared to the cash outflow of 8,056,000.00 CNY[50] - The company reported cash inflow from operating activities totaling CNY 75,470,601.56, slightly down from CNY 76,417,626.62 in the prior year[44] - The company reported a total operating cash outflow of CNY 86,600,070.56, down from CNY 104,975,219.78 in the previous year[46] - The company raised CNY 313,250,000.00 through financing activities, indicating strong capital inflow[46] Assets and Liabilities - Total assets increased by 46.29% to CNY 1,036,903,849.82 from CNY 708,824,383.10 at the end of the previous year[7] - Total liabilities decreased to CNY 183,620,449.67 from CNY 191,880,802.86, reflecting improved financial health[31] - The company's total assets as of the end of Q1 2017 amounted to CNY 1,036,564,310.12, compared to CNY 709,087,081.08 at the beginning of the year, reflecting a growth of 46.0%[34] - Current assets increased to CNY 737,591,744.16, up 70.8% from CNY 432,033,194.73 at the start of the year[33] - The company's equity attributable to shareholders rose to CNY 852,628,579.40, up 64.8% from CNY 516,356,359.91 at the beginning of the year[35] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 12,862[12] - Basic earnings per share decreased by 3.33% to CNY 0.29 from CNY 0.30 in the same period last year[7] - Basic and diluted earnings per share for Q1 2017 were both CNY 0.29, compared to CNY 0.30 in the same period last year[39] Investment and Projects - The total amount of raised funds is CNY 30,510 million, with CNY 193.31 million invested in the current quarter[23] - Cumulative investment from raised funds reached CNY 18,533.36 million, with a cumulative change in usage amounting to CNY 0[23] - The ship electrical equipment expansion project has a total commitment of CNY 23,370 million, with 73.06% of the investment completed by June 2, 2015[23] - The R&D center construction project has a total commitment of CNY 4,140 million, with only 31.26% of the investment completed[23] Risks and Strategic Focus - The company faces risks from economic cycles, particularly in the shipbuilding and marine engineering sectors, which are currently under pressure[10] - The company is focusing on innovation and industry upgrades to enhance competitiveness and sustainable development[10] - A core technology team has been established to address potential technology and product substitution risks[10] Miscellaneous - The company did not experience any significant changes in its core technology team or major risks affecting operations during the reporting period[20] - The first quarter report was not audited, which may affect the reliability of the financial data presented[51] - The company's legal representative is Gong Ruiliang, indicating continuity in leadership during this reporting period[52]

Financial Performance - The company's operating revenue for 2016 was CNY 367,775,284.48, representing a 21.87% increase compared to CNY 301,768,898.58 in 2015[16]. - The net profit attributable to shareholders decreased by 4.76% to CNY 101,707,416.15 from CNY 106,788,815.16 in the previous year[16]. - The net profit after deducting non-recurring gains and losses increased by 20.62% to CNY 95,453,061.37 from CNY 79,133,344.45 in 2015[16]. - The total assets at the end of 2016 reached CNY 708,824,383.10, a 22.13% increase from CNY 580,401,464.81 in 2015[16]. - The net assets attributable to shareholders increased by 24.49% to CNY 516,943,580.24 from CNY 415,236,164.09 in 2015[16]. - The basic earnings per share for 2016 was CNY 1.36, down 4.23% from CNY 1.42 in 2015[16]. - The weighted average return on equity decreased to 21.82% from 29.51% in the previous year, a decline of 7.69%[16]. - The net cash flow from operating activities was CNY 76,203,301.35, a decrease of 10.48% compared to CNY 85,124,736.19 in 2015[16]. - The company reported a total of CNY 6,254,354.78 in non-recurring gains for 2016, down from CNY 27,655,470.71 in 2015[20]. Dividend and Profit Distribution - The company reported a profit distribution plan, proposing a cash dividend of 4.50 RMB per 10 shares (including tax) based on a total share capital of 100,000,000 shares[6]. - The proposed cash dividend is 4.50 yuan per 10 shares, totaling 45,000,000.00 yuan, which accounts for 44.24% of the net profit attributable to shareholders[80]. - The total distributable profit for the year was 308,917,615.31 yuan, with the cash dividend representing 100% of the profit distribution[77]. - The company has a cash dividend policy that requires a minimum of 20% of profit distribution to be in cash dividends during its growth phase[79]. - The remaining undistributed profit will be carried forward to the next year[80]. - The company has established a three-year dividend return plan in accordance with its articles of association[77]. Research and Development - The company continues to focus on the research and development of marine electrical and automation systems, maintaining its position as a high-tech enterprise in the industry[25]. - The company’s R&D efforts led to the acquisition of 5 new software copyrights and 5 new patents during the reporting period[34]. - Research and development expenses totaled 24.19 million yuan, accounting for 6.58% of total revenue[44]. - The company added 5 new software copyrights and 5 new patents during the reporting period, including 1 invention patent and 4 utility model patents[44]. - The company is investing in research and development, allocating 10% of its revenue towards new technologies[90]. - The company plans to enhance R&D and product integration capabilities to capture opportunities in the domestic shipbuilding industry[70]. Market and Sales Performance - The company’s military orders grew by 37.67% compared to 2015, while public vessel orders decreased by 2.78%[31]. - Domestic sales accounted for 98.90% of total revenue at ¥363,715,637.15, reflecting a 23.52% increase from ¥294,467,433.84 in 2015[48]. - The ship power distribution system generated revenue of ¥214,488,107.73, accounting for 58.32% of total revenue, with a growth of 6.26% from the previous year[51]. - The ship engine room automation system saw significant growth, with revenue of ¥150,018,850.07, up 55.19% year-on-year[51]. - The company achieved a significant increase in revenue, achieving a year-over-year growth of 25%[86]. Corporate Governance - The company has established a comprehensive corporate governance structure to manage rapid business and asset growth effectively[6]. - The company is committed to improving its internal control and management systems to adapt to market competition and operational expansion[6]. - The company has fulfilled its commitments regarding shareholder rights and interests during the reporting period[84]. - The company’s governance practices align with the guidelines set by the China Securities Regulatory Commission, with no significant discrepancies[146]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[144]. Risks and Challenges - The company faces risks related to market demand fluctuations, particularly in the shipbuilding industry, which is influenced by global economic conditions[4]. - The company acknowledges the need for continuous technological innovation to mitigate risks from emerging technologies and lower-cost products in the market[5]. - The company recognizes the risk of talent loss in a competitive market for skilled technical personnel, which could impact its R&D capabilities[5]. - The company’s future plans and forecasts are subject to risks, and investors are advised to understand the differences between plans, forecasts, and commitments[4]. Management and Personnel - The company has a total of 481 staff, including 474 in the parent company and 7 in major subsidiaries[137]. - The professional composition of employees includes 239 production personnel, 27 sales personnel, 106 technical personnel, 7 financial personnel, and 102 administrative personnel[137]. - The company has established a performance-based compensation system that combines individual and team performance to attract and retain talent[138]. - The management team has a strong focus on R&D, with several members having extensive experience in technology and engineering[124][125]. - The company has maintained a consistent leadership structure, with all current directors and supervisors in their roles since at least 2012[123][124]. Audit and Compliance - The company has not reported any significant audit opinion or internal control deficiencies for the year[4]. - The company maintained a standard unqualified audit opinion for its financial statements, affirming compliance with accounting standards[164]. - The audit committee held 4 meetings during the reporting period, providing effective support for the board's decision-making[152]. - Independent directors attended all board meetings and did not raise any objections to company matters during the reporting period[150].