Financial Performance - The company's operating revenue for Q1 2022 was CNY 286,064,839.74, representing a 42.55% increase compared to CNY 200,676,921.66 in the same period last year[3] - The net profit attributable to shareholders for Q1 2022 was CNY 29,040,214.44, up 36.40% from CNY 21,290,792.04 year-on-year[3] - The net cash flow from operating activities increased significantly to CNY 16,317,460.51, a 278.42% improvement from a negative CNY 9,145,300.51 in the previous year[3] - The weighted average return on equity for Q1 2022 was 3.18%, up from 2.57% in the same period last year[3] - The company's basic earnings per share for Q1 2022 was CNY 0.1439, a 36.40% increase compared to CNY 0.1055 in the previous year[3] - Net profit for Q1 2022 reached CNY 28,795,866.30, representing a 31.8% increase from CNY 21,870,284.88 in Q1 2021[21] - Earnings per share (EPS) for Q1 2022 was CNY 0.1439, compared to CNY 0.1055 in the previous year, reflecting a 36.3% increase[22] - The company reported a total comprehensive income of CNY 28,814,493.03 for Q1 2022, compared to CNY 21,700,966.42 in Q1 2021[22] Assets and Liabilities - Total assets at the end of Q1 2022 reached CNY 1,880,162,956.68, an 11.69% increase from CNY 1,683,407,160.77 at the end of the previous year[3] - The total liabilities as of Q1 2022 amounted to CNY 894,216,621.13, up from CNY 731,407,818.25 in the previous year[21] - The total equity attributable to shareholders of the parent company was CNY 928,731,939.59, an increase from CNY 899,680,549.11 year-over-year[21] - The company reported a total non-current asset balance of ¥924,660,775.07, up from ¥886,601,457.55, indicating an increase of approximately 4.3%[17] Operating Costs and Income - The company's operating costs increased by 49.96% to CNY 225,141,558.51, driven by rising raw material costs and increased sales revenue[8] - Total operating costs for Q1 2022 were CNY 255,008,599.25, up 44.5% from CNY 176,435,976.53 year-over-year[20] - The company reported a significant increase in other operating income, which rose to CNY 441,379.65, a 1043.82% increase from CNY 38,588.07 in the previous year[8] Cash Flow - The net cash flow from investment activities was -93,022,199.97 CNY, compared to -24,686,662.22 CNY in the previous year, indicating a significant increase in cash outflow for investments[26] - The total cash inflow from financing activities was 233,658,750.00 CNY, a substantial increase from 20,385,692.50 CNY year-over-year[26] - The net cash flow from financing activities was 152,411,591.44 CNY, contrasting with a negative flow of -1,097,174.92 CNY in the same period last year[26] - The cash and cash equivalents at the end of the period totaled 142,357,504.20 CNY, up from 31,374,628.85 CNY year-over-year[26] - The company reported a net increase in cash and cash equivalents of 75,624,545.05 CNY, compared to a decrease of -35,279,885.21 CNY in the previous year[26] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,456[10] - The largest shareholder, Ni Maosheng, holds 24.33% of the shares, amounting to 49,117,012 shares[10] Employee Stock Ownership Plan - The second phase of the employee stock ownership plan acquired a total of 1,789,395 shares, accounting for 1.24% of the total share capital, with a total transaction amount of ¥49,458,037.03[14] - The company plans to establish a third phase of the employee stock ownership plan, with the specific scale to be determined later[14] Future Plans and Developments - The company is actively promoting a private placement of A-shares, which is pending approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission[13] - The company received an inquiry letter from the Shenzhen Stock Exchange regarding the private placement application, and responses were submitted by April 1, 2022[13] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[21] Research and Development - Research and development expenses for Q1 2022 totaled CNY 10,877,694.26, an increase of 28.3% from CNY 8,477,452.70 in the same period last year[21] Audit Information - The company did not undergo an audit for the first quarter report[27]

Company Overview - The company operates in the automotive parts industry, focusing on the development, production, and sales of EGR systems, new energy products, and precision components[6]. - The company's main business segments include engine exhaust gas recirculation (EGR) systems, new energy, and precision components, covering various vehicle types[122]. Financial Performance - Wuxi Longsheng Technology Co., Ltd. reported a total revenue of RMB 1.2 billion for the year 2021, representing a year-on-year growth of 15%[24]. - The company achieved a net profit of RMB 150 million in 2021, which is an increase of 20% compared to the previous year[24]. - The company's operating revenue for 2021 was ¥929,697,401.75, representing a 60.83% increase compared to ¥578,056,435.44 in 2020[32]. - The net profit attributable to shareholders for 2021 was ¥97,646,056.71, an increase of 81.94% from ¥53,669,453.56 in 2020[32]. - The total assets at the end of 2021 were ¥1,683,407,160.77, a 21.03% increase from ¥1,390,877,871.77 at the end of 2020[32]. - The company reported a significant growth in the automotive industry, with a 3.4% increase in production and sales of automobiles in 2021, totaling 26.08 million units[42]. - The company achieved a sales revenue of 929.70 million yuan in 2021, representing a year-on-year growth of 60.83%[63]. - The EGR product segment generated sales revenue of 328.21 million yuan in 2021, up 47.50% from 240.59 million yuan in 2020[79]. Research and Development - The company plans to invest RMB 200 million in R&D for new products and technologies in 2022, focusing on electric vehicle components[25]. - The company has a total of 319 valid patents, including 59 invention patents, 249 utility model patents, and 11 design patents[74]. - The company is actively involved in research and development, which is crucial for maintaining competitive advantage in the technology sector[141]. - The company’s R&D expenses amounted to ¥38,895,912.46, representing a 29.81% increase from ¥29,963,883.69 in 2020[101]. Market Strategy and Expansion - Longsheng Technology aims to increase its market share by 10% in the next fiscal year through strategic partnerships and market expansion initiatives[25]. - The company is exploring potential acquisitions to enhance its product offerings and technological capabilities, with a target of completing at least one acquisition in 2022[25]. - The company is focused on expanding its EGR technology application from light-duty to medium and heavy-duty diesel vehicles, as well as non-road machinery[68]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[153]. Corporate Governance - The company has established a governance structure that ensures effective checks and balances, promoting compliance with relevant laws and regulations[175]. - The company has a clear governance structure with independent directors and supervisors, ensuring effective oversight[137]. - The company has a dedicated internal audit system to monitor financial management and internal controls[133]. - The company has not reported any significant internal control deficiencies during the reporting period, with zero major or important deficiencies identified[171]. Risk Management - The company is subject to risks related to changes in automotive industry policies, which could impact its operational performance[6]. - The company acknowledges the risk of goodwill impairment due to potential adverse changes in the economic environment and customer demand[12]. - The company is closely monitoring macroeconomic trends and adjusting its business strategies to ensure sustainable high-quality development[8]. Employee and Compensation Management - The total number of employees at the end of the reporting period was 651, with 334 in production, 36 in sales, and 96 in technical roles[157]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 4.2285 million[147]. - The company has a compensation decision-making process based on annual operational targets and performance evaluations[145]. - The company has a training program aimed at improving employee skills and overall quality through a combination of internal and external training[159]. Environmental and Social Responsibility - The company emphasizes environmental responsibility and has not faced any administrative penalties related to environmental issues during the reporting period[174]. - The company is committed to sustainability initiatives, with plans to reduce carbon emissions by 20% over the next three years[181]. Future Outlook - The company has set a performance guidance for 2022, projecting a revenue growth of 18% and a net profit increase of 22%[24]. - The company provided a positive outlook for 2022, projecting a revenue growth of 15% to 1.725 billion RMB, driven by new product launches and market expansion strategies[180]. - The company aims to launch three new products in 2022, which are anticipated to contribute an additional 200 million RMB in revenue[181].

无锡隆盛科技股份有限公司 2021 年第三季度报告 证券代码：300680 证券简称：隆盛科技 公告编号：2021-073 无锡隆盛科技股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容提示: 1、董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在 虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2、公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告 中财务信息的真实、准确、完整。 3、第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末比上 年初至报告期末 | | | --- | --- | --- | --- | --- | | | | 增减 | 年同期增减 | | | 营业收入（元） | 222,187,547.15 | 48.69% | 617,970,414.64 | 67.22% ...

Financial Performance - The company's operating revenue for the reporting period reached ¥395,782,867.49, representing a 79.80% increase compared to ¥220,122,841.15 in the same period last year[24]. - The net profit attributable to shareholders was ¥42,759,994.45, a significant increase of 189.60% from ¥14,765,273.03 in the previous year[24]. - The net profit after deducting non-recurring gains and losses was ¥39,349,465.11, up 103.67% from ¥19,320,645.48 year-on-year[24]. - The company's total assets increased by 7.86% to ¥1,500,260,903.01 from ¥1,390,877,871.77 at the end of the previous year[24]. - The net assets attributable to shareholders rose by 3.47% to ¥844,729,631.69 from ¥816,416,718.35 at the end of the previous year[24]. - The company's revenue for the first half of 2021 reached ¥395.78 million, a 79.80% increase compared to ¥220.12 million in the same period last year, driven by the growth of EGR National VI products and small-scale new energy business[45]. - The company reported a significant increase in revenue for the first half of 2021, achieving a total of 1.5 billion RMB, representing a year-over-year growth of 25%[93]. - The company reported a total comprehensive income of CNY 44,151,629.56 for the first half of 2021, compared to CNY 14,640,510.57 in the same period of 2020[162]. - The comprehensive income for the current period amounted to 49.81 million yuan, reflecting a significant increase of 39.9% compared to the previous period[182]. Governance and Compliance - The financial report is guaranteed to be true, accurate, and complete by the company's management, including the chairman and accounting head[3]. - All board members attended the meeting to review the report, ensuring full participation in the decision-making process[4]. - The company has a comprehensive governance structure in place, as detailed in the governance section of the report[4]. - The company emphasizes high-quality management and lean production to fulfill its social responsibilities towards customers, suppliers, and consumers[84]. - The company has established a governance structure that respects and protects the rights of all shareholders, particularly minority shareholders[82]. - The company provides comprehensive social insurance and benefits to employees, ensuring a healthy and secure working environment[83]. - The company actively engages with investors through multiple communication channels to enhance transparency and trust[82]. - The company reported a commitment to comply with relevant laws and regulations to protect the interests of minority shareholders[90]. Risk Factors and Management - The company faces various risk factors, which are detailed in the section discussing risks and countermeasures[4]. - The company faces risks related to macroeconomic fluctuations and changes in downstream industry demand, which could impact overall performance[69]. - There is a risk of goodwill impairment related to the acquisition of Wuxi Weiyan, which could negatively affect the company's financial results if the subsidiary's performance deteriorates[71]. - The company emphasizes the importance of continuous technological innovation to maintain its competitive edge in the automotive parts sector[70]. Research and Development - The company has established a complete quality assurance system, emphasizing quality management and customer satisfaction, which has been enhanced by international clients' stringent quality control measures[42]. - The company's R&D investment increased by 90.38% to ¥18.68 million, reflecting the addition of new R&D projects[46]. - Research and development expenses for the first half of 2021 were ¥18,678,777.07, which is a 90.5% increase from ¥9,811,249.55 in the first half of 2020[157]. - The company is focused on the research and development of automotive components, particularly EGR systems, and is positioned to benefit from supportive government policies in the automotive industry[69]. - The company is focusing on enhancing its technological capabilities through R&D investments, with a specific emphasis on innovative product features[178]. Market Strategy and Operations - The company has made significant progress in the layout and expansion of core components in the fields of new energy, fuel substitution, and fuel cells[31]. - The main business includes the research, production, and sales of EGR system products, which encompass EGR valves, control units (ECU), sensors, and other components[31]. - The company has adopted a direct sales model to automotive manufacturers, focusing on R&D, quality, and supply capabilities[32]. - The company has begun mass production of motor iron core projects, with significant progress in partnerships with major electric vehicle manufacturers since May 2021[37]. - The company is actively expanding its market share in the heavy-duty truck sector, with rapid sales growth in EGR module products and an increase in major customer share[36]. - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the market[93]. - The company plans to expand its market presence and invest in new product development, aiming for a significant increase in user engagement[178]. Financial Position and Investments - The cash and cash equivalents increased by 23,499.12% to ¥50.83 million, primarily due to the redemption of financial products[46]. - The company's operating cash flow net amount decreased by 23.17% to ¥12.94 million compared to the previous year[46]. - As of the end of the reporting period, cash and cash equivalents amounted to ¥159.20 million, representing 10.61% of total assets, an increase of 4.69% compared to the previous year[50]. - The total amount of raised funds was ¥222.96 million, with ¥51.32 million invested during the reporting period and a cumulative investment of ¥158.83 million[54]. - The company has committed to invest in projects such as the electric motor core project with a total investment of ¥164.16 million, of which ¥40.31 million has been invested so far, achieving 65.19% of the planned progress[59]. - The company has set aside 76.6 million yuan for special reserves, reflecting its commitment to future investments and risk management[183]. Shareholder Information - The company reported a total of 10,000,000 CNY in entrusted financial management, with no overdue amounts or expected losses[63]. - The company has made commitments to small and medium shareholders regarding shareholding and management practices[97]. - The total number of shares held by the top ten shareholders with unrestricted shares includes 9,830,338 shares held by Ni Maosheng[134]. - The company has not reported any related party transactions among the top ten shareholders[134]. - The total number of shares held by the top ten unrestricted shareholders amounts to 56,779,802 shares[134]. Environmental and Social Responsibility - The report emphasizes the importance of environmental and social responsibility in the company's operations[25]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[81]. - The company adheres to various environmental protection laws and has not been classified as a key pollutant discharge unit[81].

Financial Performance - The company's revenue for Q1 2021 was ¥200,676,921.66, representing a 140.10% increase compared to ¥83,579,462.94 in the same period last year[8] - Net profit attributable to shareholders reached ¥21,290,792.04, a significant increase of 735.25% from ¥2,549,020.69 in the previous year[8] - The net profit after deducting non-recurring gains and losses was ¥21,181,686.70, up 548.34% from ¥3,267,076.49 year-on-year[8] - The basic earnings per share increased to ¥0.1477, reflecting a growth of 330.61% compared to ¥0.0343 in the same period last year[8] - Total operating revenue for Q1 2021 reached CNY 200,676,921.66, a significant increase of 139.9% compared to CNY 83,579,462.94 in the same period last year[59] - The company reported a total profit of CNY 24,859,139.55 for Q1 2021, compared to CNY 3,048,863.07 in Q1 2020, indicating an increase of approximately 715.5%[61] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,476,036,887.33, a 6.12% increase from ¥1,390,877,871.77 at the end of the previous year[8] - The total liabilities increased to CNY 755,067,649.80, up from CNY 685,178,338.17, reflecting a growth of approximately 10.2%[51] - The company's cash and cash equivalents decreased by 48.57% to ¥42,341,575.81, primarily due to increased payments for material procurement[20] - The company's total assets amounted to CNY 1,476,036,887.33, an increase from CNY 1,390,877,871.77 at the end of 2020, reflecting a growth of approximately 6.1%[51] Shareholder Information - The company had a total of 8,133 common shareholders at the end of the reporting period[12] - The largest shareholder, 倪茂生, held 24.33% of the shares, amounting to 35,083,580 shares, with 28,061,910 shares pledged[12] - The company plans to release 25% of the restricted shares held by executives annually based on the previous year's end holdings[16] - The company has committed to fulfilling its information disclosure obligations accurately and timely[34] Cash Flow - The net cash flow from operating activities was -¥9,145,300.51, a deterioration of 329.63% compared to -¥2,128,628.99 in the same period last year[8] - The company's operating cash flow for Q1 2021 was -6,649,466.24 CNY, an improvement from -12,190,078.49 CNY in the same period last year, indicating a 45.5% reduction in cash outflow[72] - Total cash inflow from operating activities was 41,538,922.68 CNY, compared to 15,847,737.53 CNY in Q1 2020, representing a 162.5% increase[72] Investment and R&D - Research and development expenses increased by 73.16% to ¥8,477,452.70, due to new projects and increased investment in R&D[20] - The company is investing in R&D, with a budget allocation of 5 million for new technology development aimed at enhancing product features[38] - The project for electric motor cores for new energy vehicles has a total investment of CNY 16,416 million, with CNY 7,716 million invested by the end of the reporting period[42] Future Outlook - The company plans to deepen its focus on EGR systems, anticipating explosive growth following the implementation of the National VI emission standards on July 1, 2021[22] - The company provided a positive outlook for the next quarter, projecting a revenue increase of 20% based on current market trends[36] - New product launches are expected to contribute an additional 10% to revenue in the upcoming quarter[37] Compliance and Governance - The company has committed to avoiding related party transactions and will ensure compliance with relevant laws and regulations[32] - The company will ensure that any share reductions by major shareholders will not exceed 25% of their holdings within two years after the lock-up period[34] - The company has established a commitment to avoid conflicts of interest and ensure fair dealings with its subsidiaries[32]

Financial Performance - The company's operating revenue for 2020 was CNY 578,056,435.44, representing a 42.19% increase compared to CNY 406,552,174.51 in 2019[25]. - The net profit attributable to shareholders for 2020 was CNY 53,669,453.56, which is an increase of 78.67% from CNY 30,039,092.35 in 2019[25]. - The net profit after deducting non-recurring gains and losses was CNY 49,611,261.73, up 102.65% from CNY 24,480,873.08 in 2019[25]. - The basic earnings per share for 2020 was CNY 0.40, an increase of 81.82% compared to CNY 0.22 in 2019[25]. - The total assets at the end of 2020 were CNY 1,390,877,871.77, a 39.49% increase from CNY 997,099,270.05 at the end of 2019[25]. - The net assets attributable to shareholders at the end of 2020 were CNY 816,416,718.35, which is a 49.20% increase from CNY 547,186,288.63 at the end of 2019[25]. - The net cash flow from operating activities for 2020 was CNY 44,072,277.96, a decrease of 32.31% from CNY 65,111,180.53 in 2019[25]. - The company reported a quarterly revenue of CNY 208,502,725.36 in Q4 2020, which was the highest among the four quarters[27]. - The net profit attributable to shareholders in Q4 2020 was CNY 23,724,048.15, showing strong performance in the last quarter[27]. Research and Development - The company emphasizes the importance of R&D in maintaining its industry-leading position, with a focus on developing EGR systems and related components[9]. - The company is committed to continuous improvement in its R&D capabilities to meet market demands and maintain competitiveness[10]. - The company acknowledges the potential technology gap compared to international leaders, which could impact future operations[10]. - The company has a strong focus on R&D, with a total of 550 patent applications, indicating a robust pipeline for future innovations in automotive technology[49]. - In 2020, the company applied for 30 patents, including 12 inventions, demonstrating its commitment to innovation and technology development in the automotive parts industry[49]. - The company has completed the development of several new products, including high-pressure EGR systems for light-duty diesel engines and various components for hydrogen fuel cell systems[78]. Market and Industry Trends - The demand for EGR products is expected to surge due to the implementation of the National VI emission standards starting July 1, 2020, for light vehicles and July 1, 2021, for heavy vehicles[40]. - The automotive market in 2020 saw a total production and sales volume of 25.23 million and 25.31 million vehicles, respectively, maintaining its position as the largest market globally[40]. - The strategic focus on domestic sourcing of automotive components is expected to enhance supply security and reduce costs, driven by the pandemic's impact on global supply chains[40]. - The company is focusing on the EGR system for both gasoline and diesel engines, capitalizing on the implementation of the National VI emission standards, which is expected to significantly increase the market size for EGR systems[42]. - The natural gas heavy-duty truck market is projected to account for 25% of the entire commercial vehicle market, driven by environmental policies and the increasing penetration of natural gas stations[41]. Subsidiaries and Acquisitions - The company has a full acquisition of Weiyan Precision, which may pose goodwill impairment risks if the subsidiary's performance deteriorates[11]. - The subsidiary, Weiyan Precision, has shown significant performance growth, successfully meeting its three-year performance commitments[57]. - The company aims to strengthen its management of subsidiaries to enhance profitability and ensure stable development[11]. Profit Distribution and Shareholder Information - The company reported a profit distribution plan, proposing a cash dividend of 1 RMB per 10 shares and a capital reserve increase of 4 shares per 10 shares[11]. - The proposed profit distribution plan for 2020 includes a cash dividend of RMB 1.00 per 10 shares, totaling RMB 14,417,956.30[113]. - The company plans to increase its share capital by 4 shares for every 10 shares held, resulting in a total increase of 57,671,825 shares[113]. - The cash dividend accounted for 100% of the total profit distribution amount[109]. - The company did not distribute any bonus shares in the current year[107]. - The net profit attributable to ordinary shareholders for 2020 was CNY 14,417,956.30, representing a 26.86% increase compared to CNY 7,431,272.10 in 2019[115]. Financial Management and Stability - The company has reported an increase in cash reserves due to the rise in bank acceptance bill guarantees, reflecting improved liquidity and financial stability[46]. - The company reported a significant increase in financing cash flow, with a net inflow of ¥218.46 million in 2020, compared to ¥19.02 million in 2019, representing a 1,048.44% increase[80]. - The total cash and cash equivalents increased by ¥11.43 million in 2020, reversing a decrease of ¥3.33 million in 2019, indicating improved cash inflow[80]. - The company has committed to ensuring the feasibility of projects and addressing any significant changes in project status[94]. Compliance and Governance - The company has established measures to avoid competition with its controlling subsidiaries, ensuring compliance with relevant laws and regulations[118]. - The company has committed to not transferring or managing its shares for a period of 30 months from the date of listing[116]. - The company will adhere to legal regulations and fulfill disclosure obligations to protect the interests of shareholders[120]. - The company has implemented an employee stock ownership plan approved in early 2019, managed by GF Securities Asset Management[144]. - The company maintains a good integrity status, with no significant debts or unfulfilled court judgments during the reporting period[143]. Future Outlook - The company provided a future outlook projecting a revenue growth of 10% for the next fiscal year, targeting 1.65 billion yuan[124]. - The company plans to expand its market presence in Southeast Asia, aiming for a 25% increase in market share within the next two years[123]. - The company has allocated 200 million yuan for research and development in the upcoming year to innovate new technologies[124]. - The company plans to implement a stock repurchase plan if its stock price falls below the audited net asset value per share for the previous fiscal year[131].

无锡隆盛科技股份有限公司 2020 年第三季度报告 2020-101 2020 年 10 月 无锡隆盛科技股份有限公司 2020 年第三季度报告全文 1 无锡隆盛科技股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及除以下存在异议声明的董事、监事、高级管理人员 外的其他董事、监事、高级管理人员均保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人倪茂生、主管会计工作负责人石志彬及会计机构负责人(会计主 管人员)石志彬声明：保证季度报告中财务报表的真实、准确、完整。 2 无锡隆盛科技股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 无锡隆盛科技股份有限公司 2020 年第三季度报告全文 | 减：所得税影响额 | -736,120.56 | | | --- | --- | --- | | 少数股东权益影响额（税后） | 319,039.00 | | | 合计 | -4,490,388.82 | -- | 公司是否需追溯调整或重述以 ...

Financial Performance - The company's operating revenue for the reporting period was ¥220,122,841.15, representing a 27.52% increase compared to ¥172,614,049.71 in the same period last year[18]. - The net profit attributable to shareholders was ¥14,765,273.03, up 19.46% from ¥12,359,916.49 year-on-year[18]. - The net profit after deducting non-recurring gains and losses increased by 88.67%, reaching ¥19,320,645.48 compared to ¥10,240,411.58 in the previous year[18]. - The net cash flow from operating activities surged by 3,570.06%, amounting to ¥16,849,561.94, compared to ¥459,108.04 in the same period last year[18]. - Total assets at the end of the reporting period were ¥1,101,778,467.89, a 10.50% increase from ¥997,099,270.05 at the end of the previous year[18]. - The company's net assets attributable to shareholders increased by 1.33%, reaching ¥554,480,935.71 compared to ¥547,186,288.63 at the end of the previous year[18]. - The company achieved operating revenue of ¥220,122,841.15, representing a year-on-year increase of 27.52% due to sustained customer demand[49]. - Net profit for the period was ¥1,476.53 million, showing growth compared to the same period last year[42]. - The company reported a significant increase in revenue for the first half of 2020, achieving a total of 1.5 billion CNY, representing a year-over-year growth of 25%[94]. - The total comprehensive income for the first half of 2020 was 353 million, a decrease of 39% compared to the previous period[184]. Company Operations - The company operates in the precision stamping and injection molding sectors, focusing on automotive components[11]. - The company is engaged in the automotive parts industry, focusing on the research, production, and sales of engine exhaust gas recirculation (EGR) systems and has expanded into core components for new energy vehicles[26]. - The company has a wholly-owned subsidiary, Wuxi Weiyan Precision Stamping Co., Ltd., and a controlling subsidiary, Wuxi Weiyan Zhongjia Precision Technology Co., Ltd.[10]. - The company is primarily engaged in the research, production, and sales of EGR systems and precision stamping parts, with a focus on the automotive industry[75]. - The company has optimized its procurement system to enhance cost reduction, efficiency, and quality improvement during the reporting period[27]. - The company adopted a "dumbbell" business model, emphasizing product R&D and market development while maintaining core manufacturing processes in-house[27]. - The manufacturing department's responsibilities were adjusted to focus solely on product delivery, preparing for future market demand and large-scale lean production[27]. - The company has established a comprehensive quality assurance system, ensuring high product quality through internal and external quality control measures[36]. - The company has established a knowledge property management system to strengthen internal controls and protect its intellectual property rights[83]. Research and Development - The company has applied for a total of 515 patents, including 225 invention patents, with 221 patents currently valid, showcasing its strong R&D capabilities[34]. - The company’s R&D investment was ¥9,811,249.55, a slight decrease of 1.80% compared to the previous year[49]. - The company is focusing on research and development to enhance its product offerings and improve market competitiveness[184]. - New product development initiatives are underway, with an investment of 200 million CNY allocated for R&D in innovative technologies[94]. - The company has completed the development of EGR system products in line with the upcoming National VI emission standards, with core products including EGR valves, coolers, and throttle valves[43]. Market Strategy - The report outlines the company's strategic focus on technological innovation and market expansion[5]. - The company is actively expanding its presence in the new energy sector, leveraging existing customer relationships to support their transition and upgrade[34]. - The company has optimized its sales model from geographic divisions to customer series divisions, improving efficiency and coordination in business operations[28]. - The company plans to expand its market presence by entering three new regions by the end of 2020, aiming for a 10% market share in these areas[94]. - The company is exploring potential mergers and acquisitions to strengthen its market position and drive growth[184]. Risk Management - The company emphasizes the importance of risk awareness for investors regarding forward-looking statements and future plans[5]. - The report includes a detailed discussion of the company's operational risks and corresponding mitigation strategies[5]. - The company faces risks related to changes in automotive industry policies, macroeconomic fluctuations, and technological advancements, which could impact its operational performance[75][76][78]. - The company has implemented measures to monitor macroeconomic trends and adjust its business strategies accordingly to ensure sustainable development[76]. - The company acknowledges the risk of goodwill impairment if Weiyan Precision's operational performance deteriorates[79]. Shareholder and Governance - The company reported a plan not to distribute cash dividends, issue bonus shares, or increase capital from reserves[6]. - The company has committed to performance compensation agreements, where if the actual net profit falls short of the promised figures, compensation will be made in shares or cash[91]. - The company emphasizes synchronous development with clients, providing tailored solutions and enhancing its competitive edge in the EGR system market[35]. - The company will minimize and regulate related party transactions, ensuring they are conducted at fair market prices and comply with legal requirements[92]. - The company has established a commitment to protect the interests of minority shareholders during related party transactions[92]. Compliance and Legal Matters - The financial report is guaranteed to be true, accurate, and complete by the company's management[4]. - The company has not faced any penalties or corrective actions during the reporting period[104]. - There are no significant litigation or arbitration matters reported during the reporting period[102]. - The company has not provided any external guarantees, except for guarantees to its subsidiaries[118]. - The company has not engaged in any major related party transactions during the reporting period[109]. Future Outlook - The company provided a positive outlook for the second half of 2020, projecting a revenue growth of 20% to 30% based on current market trends[94]. - The management provided a cautious outlook for the next quarter, anticipating continued challenges in the market[184]. - The company plans to invest 100 million CNY in eco-friendly technologies over the next three years, reiterating its commitment to sustainability[94].

Financial Performance - Total revenue for Q1 2020 was ¥83,579,462.94, representing a 1.77% increase compared to ¥82,122,300.84 in the same period last year[9] - Net profit attributable to shareholders decreased by 31.05% to ¥2,549,020.69 from ¥3,697,090.72 year-on-year[9] - Net profit excluding non-recurring gains and losses increased by 19.14% to ¥3,267,076.49 from ¥2,742,242.83 in the previous year[9] - The company reported total revenue of CNY 83,579,462.94 for Q1 2020, an increase of 1.77% compared to the same period last year[18] - Net profit attributable to shareholders was CNY 2,549,020.69, reflecting a decrease of 31.05% year-on-year[18] - The net profit for Q1 2020 was CNY 2,156,599.02, down from CNY 3,711,038.01 in Q1 2019, indicating a decline of about 42%[43] - The total profit for Q1 2020 was CNY 3,048,863.07, a decrease from CNY 4,458,913.64 in Q1 2019, indicating a decline of about 31.7%[43] - The total comprehensive income for Q1 2020 was CNY 2,154,846.53, down from CNY 3,711,038.01 in Q1 2019, reflecting a decline of approximately 42%[44] Cash Flow and Liquidity - Net cash flow from operating activities improved by 59.65%, reaching -¥2,128,628.99 compared to -¥5,275,263.29 in the same period last year[9] - The company's cash and cash equivalents decreased to CNY 11,463,784.00 from CNY 31,891,586.73, a decline of about 64%[36] - The ending balance of cash and cash equivalents was 40,676,821.38 CNY, down from 54,679,496.62 CNY, reflecting a net decrease of approximately 26%[52] - The net cash flow from operating activities was -2,128,628.99 CNY, an improvement from -5,275,263.29 CNY in the previous period, indicating a reduction in cash outflow[51] - Total cash inflow from investment activities was 39,070,292.02 CNY, compared to 24,166,627.89 CNY in the previous period, showing a significant increase of approximately 62%[52] - The net cash flow from investment activities was -29,245,424.28 CNY, an improvement from -51,463,649.28 CNY in the previous period, reflecting better investment management[52] - Cash inflow from financing activities totaled 75,000,000.00 CNY, up from 56,882,985.00 CNY, marking an increase of about 32%[52] - The net cash flow from financing activities was 16,828,139.43 CNY, a decrease from 53,040,799.98 CNY in the previous period, indicating a shift in financing strategy[52] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,023,899,552.07, a 2.69% increase from ¥997,099,270.05 at the end of the previous year[9] - Total liabilities increased to CNY 433,001,495.55 from CNY 408,356,060.06, reflecting a rise of approximately 6.3%[35] - Current liabilities rose to CNY 358,606,500.53 from CNY 333,621,406.53, marking an increase of approximately 7.5%[35] - Non-current assets totaled CNY 636,811,829.04, compared to CNY 612,360,769.71 at the end of 2019, indicating a growth of about 4%[36] - The company's equity attributable to shareholders increased to CNY 549,734,257.83 from CNY 547,186,288.63, a marginal increase of 0.5%[36] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 9,620[11] - The largest shareholder, Ni Maosheng, holds 27.97% of the shares, amounting to 20,786,600 shares, with 630,000 shares pledged[11] Operational Highlights - Cash received from sales of goods and services rose by 38.80% to CNY 97,383,680.96, attributed to significant revenue growth in Q4 2019[16] - The company has successfully built a diversified layout in internal combustion engines, fuel alternatives, and new energy during the downturn[18] - Operating expenses saw a significant reduction of 33.53% to CNY 3,280,376.74, mainly due to lower warranty costs compared to the previous year[16] - The company has not achieved the expected benefits from the EGR system project as it is still in the installation and debugging phase, with no production yet[25] - The company has utilized 600 million yuan of idle raised funds to temporarily supplement working capital, with a balance of 600 million yuan remaining as of December 31, 2019[25] Investment and Development - The total amount of raised funds in this quarter is 12,005.37 million yuan, with a cumulative investment of 11,008.16 million yuan[24] - The investment progress for the engine exhaust gas recirculation (EGR) system project has reached 86.65% completion, with an investment amount of 7,513.71 million yuan[24] - The company anticipates benefits from the implementation of the National VI emission standards and is progressing with refinancing for new energy projects[18] Miscellaneous - Government subsidies recognized in the current period amounted to ¥216,000[10] - The company has not reported any non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[28] - There are no significant changes in the feasibility of investment projects reported[25] - The company has not disclosed any issues regarding the use and disclosure of raised funds[26] - The company experienced a credit impairment loss of CNY 474,982.99 in Q1 2020, which was not reported in Q1 2019[42] - The company has not undergone an audit for the first quarter report, which may affect the reliability of the financial data presented[56]

Financial Performance - Wuxi Longsheng Technology Co., Ltd. reported a total revenue of RMB 500 million for the year 2019, representing a year-on-year growth of 15%[20]. - The company achieved a net profit of RMB 80 million in 2019, which is an increase of 10% compared to the previous year[20]. - The company's operating revenue for 2019 was CNY 406,552,174.51, representing a 79.44% increase compared to CNY 226,561,229.21 in 2018[29]. - The net profit attributable to shareholders for 2019 was CNY 30,039,092.35, a significant increase of 684.89% from CNY 3,827,177.56 in 2018[29]. - The net cash flow from operating activities was CNY 65,111,180.53, an increase of 164.62% compared to CNY 24,605,286.05 in 2018[29]. - The total assets at the end of 2019 amounted to CNY 997,099,270.05, reflecting a 13.30% increase from CNY 880,047,589.27 at the end of 2018[29]. - The company reported a basic earnings per share of CNY 0.4 for 2019, a 700.00% increase from CNY 0.05 in 2018[29]. - The weighted average return on equity for 2019 was 5.61%, up from 0.96% in 2018[29]. - The company reported a total revenue of approximately 182.92 million RMB from its top five customers, accounting for 44.99% of the annual sales[71]. - The total operating revenue for 2019 was approximately ¥406.55 million, representing a year-on-year increase of 79.44% from ¥226.56 million in 2018[64]. - The automotive parts industry accounted for 91.89% of total revenue, with revenue of approximately ¥373.56 million, up 90.16% year-on-year[64]. Investment and Acquisitions - The company established a joint venture, Liuzhou Zhisheng Automotive Electronics Co., Ltd., with a registered capital of 10 million RMB, where the company holds a 49% stake[14]. - The company completed the acquisition of Weiyan Precision in September 2018, which resulted in the formation of goodwill on the balance sheet, subject to annual impairment testing[11]. - The company aims to enhance its market competitiveness through vertical and horizontal integration following the acquisition of Weiyan Precision[12]. - The company is exploring potential acquisitions to enhance its product offerings and expand its manufacturing capabilities[20]. - The company established a new subsidiary, Liuzhou Weiyan Tianlong Technology Co., Ltd., with a registered capital of 20 million RMB, increasing the scope of consolidation[70]. - The company has made strategic adjustments to its business balance, focusing on horizontal expansion in internal combustion engines, fuel alternatives, and new energy[44]. - The company has established a comprehensive layout covering internal combustion engines, fuel alternatives, and new energy sectors[39]. Research and Development - The company emphasizes the importance of R&D for maintaining its industry-leading position, despite existing technology gaps compared to foreign competitors[9]. - The company plans to invest RMB 50 million in R&D for new EGR systems and electronic throttle control technologies in 2020[20]. - The company applied for 30 patents in 2019, including 8 invention patents, and has a total of 514 patent applications, with 217 valid patents[48]. - Research and development expenses increased by 45.87% year-on-year to approximately 23.17 million RMB, representing 5.70% of total revenue[74]. - The company is actively pursuing technological advancements in hydrogen fuel cells as part of its long-term strategy[43]. - The company has implemented a new quality management system compliant with ISO9001 and IATF16949:2016 standards to improve operational efficiency[20]. Market Strategy and Expansion - The company is focusing on expanding its presence in international markets, particularly in Europe and North America, to diversify its revenue streams[20]. - Longsheng Technology aims to increase its market share in the automotive parts sector by 25% over the next three years through strategic partnerships and product innovation[20]. - The company is planning to expand its market presence in Southeast Asia, targeting a 25% market share within the next three years[117]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 500 million RMB allocated for potential deals[120]. - The company is focusing on the EGR system as a key business area, leveraging the implementation of the National VI emission standards to boost sales[42]. Risk Management - The company is exposed to risks from macroeconomic fluctuations that could impact demand in the automotive and consumer electronics sectors[8]. - The company acknowledges the risk of underperformance in external investments due to market and policy changes[14]. - The company plans to strengthen its investment management and control to mitigate risks associated with new ventures[14]. - The company is committed to improving its internal processes and adapting to industry policy changes to ensure sustainable growth[7]. Shareholder and Governance - The company has maintained a clear cash dividend policy, ensuring the protection of minority shareholders' rights[103]. - The proposed cash dividend is RMB 1.00 per 10 shares, totaling RMB 7,431,272.10, which represents 24.74% of the net profit[109]. - The cash dividend distribution plan is consistent with the company's articles of association and shareholder return plan[106]. - The company has ensured that minority shareholders have the opportunity to express their opinions and that their rights are protected[104]. - The company committed to avoiding any competition with its subsidiaries and will prioritize business opportunities for them[113]. - The company guarantees compliance with relevant laws and regulations, protecting the interests of minority shareholders[115]. Corporate Social Responsibility - The company donated 1 million to support COVID-19 prevention efforts in Wuxi, demonstrating its commitment to social responsibility[160]. - The company has complied with environmental protection laws and has not faced any penalties during the reporting period[164]. Operational Efficiency - The company has optimized its procurement system to enhance efficiency and reduce costs, focusing on supplier qualification and performance evaluation[40]. - The company has adjusted its manufacturing department's responsibilities to emphasize manufacturing functions, preparing for future market demand and lean production[40]. - The company has implemented targeted adjustments in operational management, including changes in procurement and logistics functions[60]. - The company aims to reduce operational costs by 5% through efficiency improvements and automation initiatives[117]. Future Outlook - The company anticipates a recovery in performance starting in 2020, driven by the benefits of the National VI policy and the gradual implementation of new projects[98]. - The company expects to enter a period of explosive growth and harvest in 2021 as regulations are enforced and product layouts are optimized[98]. - Future outlook includes continued market expansion and potential new product development initiatives[112].